Evening Star Newspaper, July 13, 1926, Page 24

. powerful ‘buying which had shown s o FINANCIAL, ‘STEEL AND MOTOR SHARES GO UPWARD i More Confident Tone Is As- ! sumed in Stock Mar- ket Today. BY STUART P. WEST. + Special Dispatch to The Star, i NEW YORK, July 13—The stock i market assumed a more confident { tone today and stoeks which had | been the Jleaders in the advance of ! the last two months once more took i the place of prominence. i Yesterday, United States Steel had ! mold down While General Motors was iadvancing. But loday both stocks | swung forward again, the former ‘easily regaining, ¥ith 'a substantial amount besides, ‘he ground lost. General Motors made another new high record under the same sort of I ftself all the way up. ! Wall Street has accepted right 1 along the action of Steel and Gen- ) eral Motors as an indication of the attitude of leading banking interests. It was quick, therefore, to conclude i that it was safe to go ahead in other ‘Hnes. Buying = of semi-investment !nature made its: appearande in some of the rails, especially New York ! Central, which above 133 was not far from its top of/the vear. This buy- ing also took in Atchison, B, & O., C. & O, Southern Pacific, Southern | /Railway and Illineis Central. Some of the indenendent steels were drawn along as United States Steel started forward. Sloss Sheffleld ran tup and Crucible was rather notably strong. On the other hand, there ap- peared to be plenty ‘of Bethlehem Steel for sale around 45, and Youngs- town at one time was off a point. The opening of the new production in California continued to have a de- pressing effect upon some of the oil shares. Marland, however, received some support under 59 and Union Oil of Californa was up over 2 points. Among the, specialties the strength of shares of agricultural implement makers was the notable feature. Case Threshing Machine went to a new high for the year and International Harvester was bought at sharply ad- vancing prices. American Safety Razor took quite a jump.’ There was gurther buying in Coca-Cola and May Department' Stores, while realizing sales appeared in Fleishmann. Markets at a Glance NEW YORK P).—Stocks strong; many investment rails at new highs. Bonds mixed; stiffer money rates de- press Treasury issues. Foreign ex- changes firm;.- French and Belgian francs recover. Cotton firm; bullish crop reports. Sugar lower: Cuban gelling. Coffee easier; lower Brazil market. CHICAGO.—Wheat strong; bullish Canadian crop report. Corn higher; sympathy with wheat. Cattle dull. Hogs higher. SALES OF MACHINERY ARE ABOVE NORMAL ‘Buying Interest s En- livens Marke ] From Auto Trade. . A PR ST Bk & NEW! YORK, July 18 (Speciali: he important industrial centers are wxperiencing a steady, flow of business in machinery and machine tools, and. nquiries on hand ‘point to a good sales volume for some, time ahead,| American Machinist, ... ‘The present . market gives gr promise of living up to predictions to the ef: fect that Summer business woul show a better volume than is ordinar- fly expected for that season of the r. In the automotive center around De- troit sales have increased and interest. in new developments in eonunection. with - the recently. announced »expan: sfons by more than one large factor is running high. -Business has picked up in Chicago, but most of the orders ‘have been for replacements. , Cincin- nati reports a fair volume of business, with plenty of new inquiries. Small tqols and shop equipment are keeping up the volume in Indianapolis. Abrasitras 1% p: 308 108 108 Adams (6). 116 116% 114% 114% Adv. B,uzm.... 166 144 13% 18% Ad Rumley pf(3) 55 66 = 54% 5% Ahumada (v1).. % 8 % 8 Alr Reductn(16) 116% 116% 115% 115% Ri 8% 8% 8% 8% Allfed Chiem (4). 129% 181% 120% 130% AllledCm pf (7). 122 122 122 122 90 - 90 90 90 29% 80% 18 18 624 40% 57 67 23% 21% 214 21% 123 123 ‘128 40 a0% Am BE N pE ) o1 m t Sugar.. 2 Am Bosch...... 21% Am Brake Sh(8) 123 AmBrBovEI(2) 40% 41 40% 40% Am Br Bopf (7). 944 g 84 94% AmCan (3)...s, BON BO% B6% G564 Am Car&Fdy (6) 100% 101 . 100% 100% AmC&Fopf (T) 128 ‘128 128 128 Am Chain A (3). 2% 26 AmChprpfets(7) 85 Am'Drue....... % Am Express ()., 1254 Am & For Pow.. 20% Am & Fo P pt(7). 89% Am Hide & L ptf. Am Ho P (2.40). 25% 181% 130% 180% 34% 4% 33% 12% 18 Am Ry Exp ().. Am Safety R (3). 63% Am Ship & Com. Am Sm & Ref (7] 184% AmS&Rpf (T) 118 Am Snuff (12).. 128 mlllnr.(l)... Atn Sugar pf- (1) Am Tel & Vel (9) A Tel& Teleg rts 9% 9% 186% 184% 136% 118 ‘118 18 128 127% 12T% 6o% 69 69 101% 101% 101% 12 14z, 142 Am Tabac pt (8) Am Wa Wo ¢1.20 Am Woolen. .... Am Wool pf (7). Am Writ Pa pf. . Am Zinepf... . Anaconda (3).. . Armour of 111(A) Armour of NII(B) Armour J11 pf(T) Arnola Con (n).. Artloom (3)... Artloom pf (7). Asso Dry G(2%) Asso Of] (12.40). Atchison (7) At1C Line(t9: Atl Guif & WI. 62% 61% 62% 24 24 24 2% 2% 2% 16% 16% 15% 8 T % 85% 85% 85% 25% 24 55% 65% 56% 111 110% 111 42% 41% 41% 52% b52% 52% 189% 137% 138% 226% 223 224 42% 42% 42% 42% 42% 42% 114% 118 113% 12 12 12 117% 116% 117% 110% 110% 110% 98% 97% 9% 8% T2k T34 Atlas Tack. . Baldwin L (7). Bald Loco pf (7) Balto & Ohlo(5) . Balto & Oh pf(4) Barnsdall A (2) Barnsdall B (2 Bethiehem Steel. Beth Sti pf (7) Bloomingdal Briggs Mfg (3) Bkin Edison (8). Bkin-Mn Tr (4 Bk-Man T pf(6 Bkin Un G(t11). Brown Shoe (2). Brunswick Balk. Brunswick Ter Burns Br B (2). Bur Add Ma (3). * Bush Terminal.. 32 Bush Ter de (7). Butte Cop (500). II!!..B (2) ut 45% 44% 41% 102% 102 102% 31 30% 31 144 €5% €6% 66% 85% -F6% 864 85% 85% 85% 30%, 30% 80% 26 ‘26 26 1% 1% 1% 88% . 36% 88% 954 921 95% 821 31% 824 9% 90K 90% 5 5 . B i 10w 1k 30, 30 30 59% 59 69% 3% 33% 1% Calumeté& Ar(6). Calume&H(1%). Can Pacific (10)." Case Threshing. Case Thr pf (7). Cent Leather. 667 138% 136/ 112% 112% Cerre De P (4) Certain-Teed ( Chana-Cleve Chand.Cle pf| Ches & Oh (113! Ches&0 pt(6%). Chi & East Il pt Chi Great West. Chi Gr West pf.. Chi Ml & St P, Chi M1l & St P pf. C'Mil & St Pgtfs CMu&stP pfefs 18 Chi & Nwa (4).. 14% Chi Pneu T (6).. 114% ChiRI& Pac... 556 CRI&PDI(6). 8% 30% 2! 1447 142% 144 144 8% 8% a2 a2 ; 25% 24% % 11 18% 18% 1% 11 18% 18 74% 78% 1164 114% 55% 5% 87l Railroads are buying in the New England district, with good sales re- ported in the electrical industry and by auto accessory makers. Railroad buying bas been a feature in the New York matket. General industrial ae: tivity and construction work in the South have improved the outlook in that territory. A The steel interests have been steady :uyers of tools in the Canadian mar- et. . COPPER STOCKS SMALLER. NEW YORK, July 13 (#).—Stocks of refined copper in the hands of North and South American produ- cers on July 1 amounted to 66,006 short tons, a reduction of 3,273 tons compared with the month before, the American Bureau of Metal Statistics reports. Foreign and domestic ship- ments in June were 120,016 tons against 117,173 in May and 118,864 4n April. Domestic shipments for the first half of 1926 aggregated 453,996 tons, the largest for any six months. June production by North and South American refiners was 116,743 tons against 113,898 in May. METAL MARKET! NEW YORK, July 12 . —Copper spots a futures, 14%. spot and mnearby, 62.25; futures, 61.75. Iron steady; No. “1 Northern, 20.50421.50; No. 2 North- ern, 19.00a20. No. 21,00222.00. a Zinc firm; Eastd futures, 7.50a7.62 14.00. Tin ea: —_— POTATO MARKET STRONGER: CHICAGO, July 13 (#).—Potatoes, trading fair; market stronger on sacked and steady on barrels; sacked Kansas and Missouri 235 for best stock and sacked early Ohilo, 1.90a2.10; Virginia barrel Irish cobblers, 4.26a4.50; barrel Irish’cobblers, 3.75a4.25. t | COTTON GOODS ACTIVE. NEW YORK, July 18 (Special).—The catton goods. market showed more “adtivity today, with print cloth quo- tations. unchanged at 7% for 64 and 8 for 68x72s. 'The cobblers, 2,008 | mies CRI&PDL (D). Childs (32.40)... hryaten Coratd) 26 rysler by Chrysfr pfA(8). 102} 102% 1024 Cluett Peab (5). 64 64 - 64 Coca-Cola (7)... 1 164 1624 Collins & Alkmn. 44% 46% 44% Collins&Atk pf 7. 3 Col ¥uel & Iron Col Gas & E1 (5). 86% 86% .85% Col G & Ept (7) 115% 115% 115 Carbon (4) 621 1/ A% 4% 44 Clgar.... 68% ~66% 65% Consol Distribut 8% 8% Consol Gas (5)., 1 to1% L 1% 1% Crucble 8t1 (5) ., Cuba Cane Su pf. Cuba Co (4) Cuba RR i ‘Cuban-, Cuban :: PI(T) Cuban-Dom Sug. Cudahy Pkg (7). Cushman's (8).. L §=f§5 4 - 1 855580578 % | Gotham 8 Hnew 474 49w 20% | HudsonMan(33: . Jones & Lau (7) 116% 264 | K | MisSourt Pac of. 9% Montana Pow(5) 7% -Monsingwr (3).. §357855°5 [NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Ofice & B0% 60% 50% 08% 107 1061 107 50% B3 50 6% 47% . 4% Gotham pf (7).. 109% 110 109% 110 Granby Consol.. 22 23% % 23% GrtNorth pf (5) 74% 75% 174% 74% Green A 17 41T 16% Gulf Mo & Nor.. Gu M & N pf ( le Guif States 8 (5). 76 1d Dust... . rich Ru (4) ear pf (7). 1 Gothm 8 H (3%) 36% 106 108 7% 76 6% 20% 26% 264 26% 107 107 107 107 6% 764 764 T Hartman (3%).. Hays Wpf(7%). Helm Geo (16%) Hoe & Co A. Houston Of1 58% Howe Sound 23% 23% 23% 884 58 B8% i i B Hudson Mo(3%) 64k 56% Hupp Mot (¥)... 24 24% 24 Tilinots Cen (7). 128% 124% 128% 101 Cent pf (6)... 125 126 1! Indep O11 (1).... 23% Ingersoll R (14). 90% Inland St (3%).. Inspiration (2).. 28% B6% . n 124 125 36% 106 Speculative and High-Yield- ing Obligations Compara- first tgage ralls and to a limited extent of United States Government bonds, although the latter as in the preceding session. itimore and Ohio first for example, at 91 were down a nt and a half from the high of the year. e 0 Greater interest was shown in the junior rails and some. of the indus- trials. All the Erle igsues were active, but offerings about equaled demand, Ch and yesterday’s high were not | Chi materially exceeded. New York, West- chester and Boston 4%8s were the fa- vorites in the New Haven list. Better Tone in Coppers. Among convertible bonds Delaware and Hudson convertible 58 .lllll ‘were low. Copper bonds came in for more at- tention in sympathy with the better % | tone in copper stocks. Granby Con- sol 37 37 (nt Paper pf (7). 93% 94 93% 94 Int Tel & Tel (6) 122 128 121% 128 Iot T&T % 9% % ™% .89 38 . 38 128 128 ‘12¢ 116% 1164 Jordon Mot (3).. 28 21T% 2™ Kan City South. ~ 44% d5% 44% 45% Kan CSopf (4). . 66% 66% 66% 166% 39 39 384 KayserJ (3) Kayser J pf (8). 101% 101% 101% 101% 13% 13% 13% 13% 56 56 97% 98 1 4% 2 28 174 174 174 174 23 28K 22% 23 85 B53% 655 SO R ] 921 Ol% 91% 37 21% 838 81% 39% 7% 124 116% 28% Kresge Dept 8, Laclede Gas (8. Lago O11 & Tran. Lambert (3%) Lee Tire & Rub.. Loew's Inc (2) Loftl... Long Bel Loose Wiles Loose W 1ai 4% de% 122% 127% 116% 116% 133% 136% 39% 3% 104% 16% 24 5 2 1837% Loutsiana Of! LoulsGasA (1. Lou&Nash(t6% McCrory B P5.60 83% 88% Mack Trucks (6) 120 121 MackTk 2 pf(7) 105% 105% Mackay (7). 134% 134% Magma Cop ( Mallison & Co. Man El Sup(§ Man-Elev gtd.. Man ElI gtd (€5). Mantla Elee (2). Manila Eleg rte Maracaibo Oil. Marland OH (4 MartinPary(2). Mathieson (43.: 80% ' 8F May Dept St (5). 118% 120% Maytag Co 21% 28 140% 140 - 140% | 3 33 Mis Kan & Tex. 88 MoK & T pf (6). 92% Missouri Pacific. 39 90% Montgom Ward Moon Mot (3) Mothr Lode(’ Mo Pleture(1%) Motor Met(3.60). 41% Motor Whi (2), Mullins Body. o) 88% Murray fody... Th Nash Motors.... 56% 58% Nat Acme (sta). T T Nat Biscult $4%. 96 = 974 Nat Bfscu pf (7) 180 130 Na¥Cash Reg(3) 43% 444 Nat Dairy (8)... 68% 7 Nat Distillers... 18% Nat Distillers pf 46 N-t!}nsmnl&l, 22 Nat Enem pf (1) 76 Nat Po& Lt(40e) 28 Nat Fy Mex 1st. ' ' 64 Nat Supply (4).. 62 Tea (4) 182 levada Cop (1). 13% 1 Y Afr Brake(3) 414 41% rts 84 3% H - 'Orph”«m Cir(2) 30 80% Otis Elevator (6] 121% 8 « o 10% 1 - 20% LR 1918 120% § 9% 1w 1ain 96% | lidated debenture 7s of 1930 were especially strogfg, up over a- point. Andes Mining convertible 7s at 102 equaled the previous high. There was little Emn in the local tractions or the 4 Most foreign bonds were higher. At one time French government obliga, tions were up half a point or more. ‘The Belgian issues did better also. In the German group, German General Electric 6%s renewed their advance. Uruguay 6s, the new issue, e a new high-at 97. > The Chesapeake and Ohio has call- ed for redemption on October 1 next its 6 per cent convertible bonds due April 1, 1946, at 105 and Interest. The Gonversion privilege into common stock at par expires September 1, and holders who do not convert before that time will lose the present pre- mium of around 37 points. Important New Offerings. Important new offerings included $4,265,000 East Bay Water Unifying and Refunding 30-year 58, series “E,” at 97%, to yleld 5.15 per cent by Pilerce, Fair & Co. and Blyth, Witter & Co.; $1.000,000 St. Louis Joint Stock Land Bank 4 to_yield ‘about. 4.31 to op- tion date, by William R. Compton & Co. and Halsey-Stuart & Co.; $1,650,000 People’s Light and Power Convertible 6% per cent serial notes, to yield 5.50 to 6 per cent, by G. L. Ohrstron & Co. and $3,600,000 Moffat District 53s, wield 4.7 per cent, by R. M. Grant|Rio & Co. —eeeee Seagrave(ei.20), Sears-Rn (24). Seneca Copper) 89% | Shattuck F G(2) !:dl Un (1.40).. Sou Cal Edison. . Sou Dairies A(4) Sou Dairfes B. ( South Por pf(8). 115 ith Pac (8). .. 1 Southern Ry (7). 1184 South Ry pf (6), 92% icer 21% Std Gas&E!l (g4) % SWaG & El pf(4) B Std Mill (5) Std Ofl Cal ( StaOILNJ (1).. 48% Std Ofl NJ pf(7). 116% Sterling Pro (5). 894 Stewart Wi 8% | Sweets of Amer. Symington. ..... g . 86 8 Realty ()., 61 S Rubber..... U'S Rubist (3). B b’§§_::g_§'g§::;g sizesy; s 3 were fot as heavy | ; 99% 99% 52.101% 101 9 98K 9R% 98BN Austria 7s. . 38 102% 102% 202% Bank of Chile 6%s. 6% 96% Belgium 6s. 1 84N 52 9% % 21109 108% 1084 7 107% 107 107% 21 102 101% 102 B 85% 84% 85% 1 95 9% 63 105 104% 2 101% 101% 19 104% 104% 17 102% 102% 21 101% 101 11-108% 108 74 108 108 100 99% 102% 102% 1124 (11% 12 111% 104% 104% Danish Munic Danish Munie Putch Fast I 65 62. Finland s £ 6 45... % g Jergens UM 6s 47. Orient Dev deb Paris.Ly-Med ‘Paris Orleans 85% 85! 101% 101% 105% 105% e A 104% 104% 103% 103% 102% 103% Innd Queensiand 7s. . 104% 1034 8s. ‘Toho Blec Power 78 69 5% Utd Kingm 5%s.29. 1 118% Utd Kingm 6%s 37. 38 105 Utd Steaim Copen 85 20 88% Oruguay £8, .. ..~ 2 109% .1 Q'B LAN s L 101% 100% 101% 104% 108% 104% 146% 146% 146%. 102% xz 4 35 108" 407 ma 90% - 95% ' : ;g.fi v efif fgsf 2222222 o = s = 588 gt o 3 'gsifés § : I | sai: ‘4449 4 Sales, High. Low. Close. b 108 108 8 % 98% V8K 9 108% 108'% 108% 17 104% 104% 104% ROAD. 12 92% 2% 93 BR% 4% % % 108% % 100 107% 108% 91% 9% 100% 100% % 804 804 974 97% 0% 18 I:K 104% 100% 3 Atlantie CL 1st 48, ' 9 Atl & Dulmtd 45 48. 'll; FINANCIAL.' WHEAT PRICE LIFTED 'BY CANADIAN REPORT Sharp Upturns Also Influenced by Unfavorable Weather Condi- ‘ By the Associated Priss: tions in the West. CHICAGO, July 13.—Sharp up- turns in the price of wheat resulted todny from active buying based large- ly on the Canadian gove'nment crop report. Unfavorable weather condi- tions both In the Northwest and Southwest tended also to lift values. Starting at %c to 3c advance, wheat went in some cases to nearly 4c above yesterday’s finfsh. Corn, oats and provisions were likewise firmer, corn opening %c to 1c up and scoring some ditios gain. ‘With 1926 Canadian wheat produc- tion officially estimated as showing a curtainment of about 74,000,000 bush- els compared with the 1925 harvest, a rush to buy wheat was made as soon % |as the market here opened. The 0% 51% 92% 105% 9% 70% 63% 32% 6% *53% £ 53 88% 52% 52% 108% 112% 112% 107% 107% Bn 48 68, Chi B&Q 1strfbs. Chi&EIgnbs.... Chi Great West 4s. 108 CM&StP4s25ofs It CM&StPdbds... 3 CM&StPdeb 45 cfs. CM&SPev4 8320t CM&StPgnékhs. C M &St Predys. . CM&StP r 4345 of14 Chi Union Sta 5s 44 COC&StLrfésA. Ciev Term 6s...... Cleve Term 6%s. .. 107% 107% 9% 99% 96% 96% 1094 100% 924% 112% 0% 69% 9% 2% 0 76% 83% 107% 110 99% Cuba RR7%s Del & Hud 1st rras 924 924 Del & Hud cv 5» 113 1124 0% S0% Erie conv Erfecouv 4s B Erleconv 4s D. Erfe conv ext Erie & Jersey FlaECSs 74. 107% 115% 107 113% 7% 06% ‘82 106% 103% % 4 3 964 105% % 74% . 8% 92% 5% 8% 8T% 9% % 97w 103% 95% 106 105% 7 Tl Central 5%s. Int Rap Tran 6s. .. Int Rap Tr 63 stpd. Int Rap Tran 6s... Market St 7 40.... Ml H Ry & L 58, M St P& SSMon 4s 10 % Canadian figures proved to be a big sul to the majority of traders, ajthough leading crop experts con- tend that such a forecast has of late plainly indicated by moisture conditions alone. H According to one prominent crop ! authority here, more than a third of the official rainfall “reporting points in Capada have held only 2.7 inches of moisture in the last three months against & normal amount of 5.7 inches. Under these circumstances, a quick collapse of a large part of the crop as a result of high temperature had been looked for by competent ob- servers. T e - ninds Bh wminl 130% e 855 Advance at Winnipeg. WINNIPEG, Manitoba, July 13 (#). —Yesterday's government crop report, which - was construed as bullish, caused an advance of 3 cents in the price of wheat on the Grain Exchange heére today, when short covering de- veloped at the opening. Wheat—July opened 1% to 3% tl:a;zn:o l;uher':'al:ulft to 15,51; October, cent er, at 137 to 137%; December, 1 to 2% cents higher, at 134% to 135%. . s CHICAGO LIVE STOCK MARKET CHICAGO, July 13 (United States Department of Agriculture).—Hogs— 8 Receipts, 18,000 desirable hogs suit- able for shipment, mostly 15 cents to 25 cents higher than yesterday’s aver- age; few outstanding sales showing fully 25 cents gain over best prices; big packers Inactive; bulk desirable, 160 to 220 pounds averages, 14.10a14.40; se- lected 140 to 150 pounds weight up- ward to 14.50; bulk, 240 to 300 pound butchers, 18.25a18.85; better grades of packing sows, 11.50a12.00; heavies, mostly 11.00a11.50; few slaughter pigs, 13.75a14.25; heavyweight hogs, 12.90a 13.80; medium. 13.75a14.40; light, 13.90 al14.40; light lights, 14.00a14.40; pack- ing sows, 11.00a12.00; slaughter pigs, 13.50a14.25. + Cattle—Receipts, 9,000 head: dull; draggy trade on general run fed steers; grassy and warmed up offer- .|it was last year. ing and grass cows; some action on e yearlings; best, 10.35; most. 1y heifers; best matured steers, 10.1 stockers and feeders weak to uneven- % |1y lower; buyers discriminating ‘against 92% 1024% 103 74 98% 1065 106% 100 100% 108 T0% 5% 96% 104% 106% TT% Mo Pac 6s 55 E. Tex & M in 5s B 104% 29% 8% 2% 65% 88% 101% 1% 1% 100% 1004 oMy 98 86% .2 100% 100% 100% 7 97% 9% 97y 106 106 101% 101% 13K 1124 1126 1076 1073 107% 3 1024 102% 1024 Northern Pac Northern Pac [N Northern Pacri6s 95 1 101% 1:12% Ore & Calif 1st 5s. 100% 40 106 ; 101% 7 92% 83% 88 % Y 5% s 9% 95 8% Nk weight in fed steers; grass movement expanding; grassers selling largely at 8.256 downward; bulls, steady to week; mostly 6.00a6.25; vealers strong at 12,00213.00. Sheep—Receipts, 10,000 head; fat lambs, steady to strong; several lots westerns unsold; two decks 78 pound Idahos, 14.35, to small killers; early bulk, 14.00a14.35 to packers; native lambs mostly 13.76 to packers; some 13.50; sorted light; culls, mostly 10:50 al1.00. Sheep steady; bulk, small supply, fat ewes, 5.00a6.50: two dou- bles mixed wethers scaling 95 pounds, 7.35 to feeders; late yest 's bulk western fat lambs, 14.00a14.25; 59 to [daho and Washington feed- er lambs, 13.50a13.85; 25 cents to 50 cents lower than Friday; 72-pound kind, 13.25. RS D e e GRAIN AND PRODUCE. BALTIMORE, July 13 (Special). New potatoes, barrel, 1.5024.00; beans, bushel, 50a9 . 25a50; carrots, 100, cal , hamper, 2.00a5.00; corn, bn-nd,oaow.w; cu- 50a1.00; onions, bushel, 76a1.00; peas, bushel, 1.5012‘:‘5‘: P.DD’GK‘I. crate, 2.00a raspherries, pint, 8al2; blackberries, quart, 10alf; watermelons, 100, 2520 260.00. y 4 Selling Price® at Noon. ‘Wheat—No. 2 red Winter, démes- tie, spot, mo quotations; No. 2 red ‘Winter, garlicky, spot 1.42. Sales—Bag lots of nearby at wharf sold at a range of 1.15 to1.33. estic, No. 2 yellow, 87a $7% per bushel in Yarload lots; No. 2, spot, export, 82%; No. 3, spot export, Sale—] Bag lot of nearby white at ‘wharf at 85. Oats—No. 2, 49 per bushel; No. 3, nominal. 32, export, 8pot, no q ‘Hay—Receipts for today 56 tons. The demand for hay is quiet and on the better grades of tim- lover mixed and No. 1 medium and poorest in ample supply, with very for commen hay at any , per ton, today: No. 2 ; No. 3 timothy, light ‘mixed; L0315 REPORTED BYW.R.T.FOR MAY Net Revenues $436.05 Below Operating Expenses, Utili- 4 ties Body Is Told. ¢ BY EDWARD C. STONE. Passenger traffic on the Washington Rapld Transit Co.'s busses during May was . not .sufficient to return a profit to the company, net operat- ing revenues showing a loss for the month of §436.05, according to reports just filed with the Public Utilities Commission. Total operating reve- nues for May were $42,546.16, while 7 total operating expenses, including taxes, for the same month were $42 982.21, leaving the small deficit in net income already mentioned. Total operating revenues for the samé month last year reached $43,144.71, Revenue passengers carried during the month of May this year totaled 459,149.°, This was a drop of 13,000 over April of this year whe i mately 472,000 people were the company’s busses. Passenger traffic in May also was lighter than it was during the corresponding month a year ago. This was partl ue to the fact that the weather in May this year was not nearly as favorable as It is said that the weather kept many Washingtonians ) from patronizing the busses and that there were fewer visitors than came here in May, 19 A ye: ago hundreds of local people also w riding on the double-decker busses, b eause they were a novelty. The novelty of upper déck riding has worn off and the bus revenues are feeling the difference. Capital Traction Leads Market. Capital Traction stock led the local market today when 107 shares sold on five transactions at 104, a price fractionally below that prevailing last week. There was one sale in Norfolk & Washingtpn Steamboat Co. at 275; - Washington Gas Light stock stood at 69%; Washington Railway & Electric preferred registered three sales total ing 40 shares at 88%, while 20 shares of National Mortgage & Investment preferred sold at 8%. Two shares of Farmers & Mechanics’ National Bank stock brought~295 and seven shares of Federal-American National sold at 310. , Potomac Electric Power 7s sold at 105% and Washington Railway & Electric 4s recorded three sales at %. Tribute Paid to Late F. P. Reeside. Following action taken at the last meeting of the Washington Loan and Trust Co.’s directors, a glowing tribute paid by John B. Larner to , the late Frank P. Reeside, and reso- lutions passed by the board have been printed. Mr. Larner lauds the de- ceased ‘director’s loyalty to the bank, his courage, rare business ability, religious example and high Ideals. The resolutigns, prepared by a com, mittee .headed by John Joy Edson! refer to his early education in Wash- ington, his = connection with the Equitable Co-operative Building As- sociation, unusual interest in finance and civic activities, love of music and his. strong persongdity. One of his latest and best pictures appears in the tribute. The tribute shows very high appreciation for the splen- did service he rendered the trust company over a period of mafy years, . Demand Deposits Gain Here. The Federal Reserve Board's week- Iy condition statement of 701 report- ing member banks in leading cities as of July 7 shows declines of $77.000.- 000 in loans and discounts, $28,000,000 in investments, $240,000,000 in net de- marid depesits and an increase of $100,000,000 in borrowings from the Federal Reserve Banks. Member, banks in New York City reported re* ductions of $73,000,000 in loans and Qiscounts, $191,000,000°in net demand ¥ deposits and an increase of $134,000,- 000 in borrowings from the Federal Reserve Bank. . Demand deposits in the fifth dis- trict, -which; includes Washington, showed an increase -of $8,000,000. Bonds Called for Redemption. The Chesapeake & Ohlo Railway has called: for redemption on Oct ber 1 its 5 per.cent convertible 30- year bonds, due April 1, 1946, prin ‘pal with 5 per cent premium and a trued interest to October 1 being payJ able through J. P. Morgan & Co. The conversion privilege expires Septem- b‘uflmore and Ohio has a net profit of about $90 a share on its holdings of Reading common stock, acquired 23 years ago. With the Reading junior shares selling last week at double par, or $100 a share, this block of stock was worth $18,000,000 more than the $5,576,928 it cost the Baltimore and Ohio Railroad in 1903. Other Financial Notes. - The Washington delegation to tne American Institute of Banking -Con- Vention has arrived in Dallas, “Tex. According to the program, today’s ses- sion is being given over to confer- eng'finuk! will be mailed out tomor- row to cover the 1% per cent dividend declared by the Washington Me- chanics’ Mortgage Co., which: is pay- able July 15. ; Thomas W. Brahany, who ha§ re- cently become a partner in Crane Parris & Co., is taking a week's ¥: cation and on hlsflremm will activel n the banking firm. . ”‘m John L. Edwards Co., local ‘rép- resentatives of Hornblower & Weeks, recelved a special telegram fromr-tho firm announcing the death of the late War . Years ago 'Mrl.]wod(u a very strong part in buildn: BV IY ot v n S banking and investment houses in the country. Many people in Washing- ton’s financ] jal mo\lrn_ !’ll'l dA Harriman & Co. xl:“ .fi-n unce that F, B. Krom - Pointed. manager of thelr New Y¥ér -sales department. pxsies FOREIGN EXCHANGE. . Quotations furnished by W. B. Hibbs & Co.) ¥ - Nomizal mag.dum 3 5 sase 4 . NEW YORK, July 18 U —Foréign .