Evening Star Newspaper, July 16, 1926, Page 24

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ATNEW TOP MAR ‘J Nolume of * Trading Small. | Other Auto Shares Aided " by Market Leader. . BY STUAKT P. WEST. | Bpecial Dispatch to The Star. NEW YORK, July 16,—It was | < another specialty market on the Stock [ Exchange today. The vohime of busi- ness, which had been dropping all week, did not pick up much. This failure of transactions. to Increase to any extent showed better than-any- thing else could have done the lack of outside response to what the Wall Street professionals were doing. The market hinged largely around [ General Motors, which was bid up to ' _another new high record. The finan- | clal community reasoned that the . same powerful support coming into . this lloek when it went off like it did Yyesterday was a sign that prominent banking attitudes had not changed. E There were other strong features. [, One of these was New Haven, which was unusually active. Every time this stock gets strong independent of the other rails it raises the discussion which has been going on intermit- tently for, the last three years of the Whll"y of the New Haven roads being operated jointly by trunk lines leading to the West. ‘The great strength in General Mo- tors had some effect upon other mem- |© bers of the motor group. Mack Truck " reached the best prices of the pres- ent move. DuPont_got well up te its top figures.. Realizing sales, which had _been going on for several days in | Willys-Overland, appeared to have + been absorbed and the stock rebound- ed over a point. Buying continued in Dodge A, still in antic] on of a . highly favorable semi-annual report. Plerce Arrow, which has been idle recently, suddenly awakened. Among the motor supply shares there was a moderate demand for Stewart Warner and Timken Roller Bearing. The story that Standard Oil of New Jersey proposed to call in its pre- ferred stock brought some buying into the common. It had closed the pre- vious day at 43%, it went up to 44%. But subsequently the stock came down when officials of the company referred to the retirement report as being premature and stated that no Dhn hAd been approved, shares kept on "lelsurely 'l!.h lhe{r upward movement, which started a week ago when thg price of copper metal began to Improve. Anaconda, selling ex the quarterly dividend at 75 cents, made this up with a half point or more besides. American Smelting was nroni again and so was Cerro de Pasc In the industrial mtlon Electric BStorage Battery attracted some at- tention and so did Certain-teed Prod- ducts, which ran up a point and a Ralf. Coca Cola was higher for a time and Pullman gained nearly two nts. International Harvester and ngoleum weré features, and in the public utility . division the demand continued keen for American Power and Light. NEW YORK (#).—Stocks, strong; ‘buoyancy of General Motors features ' trading. Bonds, steady; Chesapeake & Ohio conv les advance.. For- elgn exchange, mix French francs at new record low. Cotton, steady; [ firm _cotton goods market, Sugar, Cuban buying. Coffee, lower; easier cables. CHICAGO. — Wheat, higher; less favorable Canadian report. Corn, * parely steady; warmer weather. Cat- _tle, easier. Hogs, weak. CHICAGO LIVE STOCK MARKET . CHICAGO, July 16 (Upited States Department of . Agriculture),—Hogs— Receipts, 21,000 head; active; mostly 15 to 25 cents lower than yesterday’s ayerage. Spots, 50 cents off from high e; top, 14.50; bulk desirable 210 pounds, down, 14.15a14.40; better ~-grades ‘butchers averaging 240 to 320 pounds, 13.00a1 bulk packing sows, 11.26a11.5 ost slaughter pigs, 14.00214.35; heavyweight hogs, 12. a13.85; medium, 13.50a14.40: ll,gh 18.76a14.50; , light 1light, - T5a14. packing - sows, Bl.ll 76; “slaughter vln. T5.75014.40, Cattle—Receipts, 4,000 head; lifeless, trade on most, killing classes: " spots shade lower on grass steers; best fed yearlings, 10.35; heavies, up- . ward to 9.85; several loads matured steers and yearlings, 9.50; some Texas s, 6.50a6.85; most grass cows, = 50' lew g1 fed upward to _ 700 and better: cacilond o maedins bulls, 6.00; vealers, largely 12.00a12.50 to packers: outsiders, upward to 13.0 Sheep—Receipts, 3,000 head; ge: erally steady; no westerns on sale; bulk desirable, sorted, native 70 to 78 pounds, 13.75; few 14.00 to small kill- < ers; some sales downward to 13,00; buck lambs scaling 90 pounds and up around 12.00; culls mostly 10.50a11.00; bulk small*supply fat ewes, B.M.W. one double 94-pound yearling wethers, + 11.50; few two-year-olds, 102 pound, 10.00; late yesterday Idaho and Wash. ln‘tun feeder lambs scaling 61 pounds, 18.65; some 70 to 73 pound kind, 12.75a 13. FEDERAL LAND BANK BONDS. (QIIM by Alex. Brown & Sons. - Closing.) "%’.‘h |)ll FOREIGN EXCHANGE. (Quotations furnished by ".f bba & Co. ot iy NEW YORK, July 16 (4).—] ign |- exchanges frregular. Q ne (in ipents): Great Britain, demand, 486; . cables, 486 7-16; 60-day bills an banks, | 482, France, demand, 2.43%; cables, 3 3::0 Italy, demand, 3.30;" cabl ; 8 .J Dd . 1.20%; Poland, 11.00; Czecl kia, 1 2. ”K. J\lm vh % ?‘l’!?' Shanghal, 711;%930111:3., Jul; mm uly. A 75| Chi R 1& Pac. NEW YORK STOCK EXCHANGE | Received .y,mm Wire Direct 'go The Star Office Abitid! Pow (4). Adv. Rumley. ., Ad Rumley M(" Gl% Biw Ahumada (v1).. 8.° 8% ll 53 8% !“ 115 8% 8K Albany Papr pf 7 98 All Am Cable(7) 151 Allied Chem (4). 129 AllledCm pf (7). 121% 121% Allis Chalm ().. ' 88% 89 Allis Chal pf'(1) uo Amerada (' ).. 160 150 . 128% 129% 121% 121% 88 87 41 m Br Bov E1(3) 40 95% 95% Am Br Bo pt (1) Am Can (3). Am % Am Express ().. Am & For Pow, . Am Hide & Lea.. Am H!dl&bopl. Am Loco pf (7). Am Mach & Fy.. Am Ma & Fy pt 7 Am Po&Lt (g1). Am Radiator (4) Am Safety R (3) Am Ship & Com. Am Sm & Ref (T} AmS& R pf (1) Am Stl Fays (3). Am Sugar pf (7) Am Sumat A cfs Am Tel & Tel(9) Am Tobae pt (6) Am Typ Fdrs(8) Am Wa Wo ¢1.20 Am Woolen. . Am Wool of (7). Am Writ Pa px. : Am Zinc. Am Zine pf...-. Anaconda (3) Argher-Daniels. Armour of TI1(A) Arnold Con (n).. Artloom (3).... Asso Dry G(2%) Asso Ofl (12.40). Atchlson (7). Atchison pt (5). At] Birm & At. Atl C Line(19% AtIGulf & WI... 43% d4d% Atl Guif&WIpt, 44 . 44 Atlantic Refing.. 112 113% Bajawin L (7).. 116% 116% Balto & Ohto(§). 97 97 1% 26! Balto & Oh pf(4) Barnsdall A (2). 69% 81% 46% 53 - 53 137% 137% 9 99 % % 220 2224 44 44 1124 112% 116% 116% Beech-Nut (13) Belding Bros(3 Beth Sti pf (7). Bloomingdale. British Emp 2d. Bkin-Mn Tr (4). Bk-Man T pf(6). Bkin Un G(+11). Brown Sh of (7). Brunswick T Buff R&P pf (6). Bur Add Ma (3,. Bush Terminal. Bush Ter de (7). Butte Cop (50¢). Butte&Super(2). Rutterick. . X By-Products (2) Calif Packing(8) Calif Petrol(2).. Calumet& Ar(8). - Calume&H(1%). Can Paeific (10). Case Threshing. Case Thr pf (7). Cent Léather.... Cent Leather pf. Cen Ry NJ(12). Cerre De P (4).. Teed ( 189% 139% fll“ 188% 33 334 33' 383K 15% 16% 16% 164% 164% 163 181% 136%-131% ns 13 13 9 9% 9 5% B4% B4%: 204 204 204 61% 68% 674 9% 9% 25% 26% 2% 10% 11 . 10% 18% . 184 184 1 1% 11 18% 184 18y %% 2% 72 13 . B2% 53K B2% CRI&PDL(6). 88k 834 Chile Cop (2%). 84% 34% 34 Chrysler Corp(3) 34% 354 344 Chrysler pfA(8). 102% 102% 102% Coca-Cola (7)... 169 159% 168 ! Afkmn. 46% 46% 46 ik pf 7. 106% 105% 105, Col Fuel & Iron. ‘S\‘ 46% Colo Southern. .. Col Gas & El g ) 115 62% Chi Gr West pf. Chi M1l & St P Chi Mi1 & St P pf C M1l & StP ctfs C MII&StP pf cfs Chi & Nwa (4).. Chi Pneu T (5).. 118 ColG&Epf Col Qrbol:'(l)-. % | N Y Canners C2. % | Ntag F pf (1%). ot 62% | Norfk & Wn (18) 153 5% 'uu 'uu 'uv. 'uul en Outdr A (4 14% 18% g:n Gen R! lil‘-““. Giidden (3 Gold Dust. Mrhh Ru () Goodrich pt (7). 98% 98% Goodyear nf (1): l“‘i wm 106% lfll‘l Goodyr pr pt( 108 108 Gould Cou (l . Granby Consol Grt North pf (6. Gt Nor Ore (1%) Grt Wara Su (8) Green Canan Gulf Mo & N Nor,. 35 85 35 Gu M & N pt (n losu 106w mnu lou Guif States 8 (5) 6% Hoe&CoA,.. Homestake (17 Househd (13% Houston Ofl. Howe Sound (38). HudsonMan(2%. 8 Hudson Mo(3%) Hupp Mot (1). Indep O1! (1) Indian Refin; Indian Refgotf Ingegsoll R (14). Inland St (234).. Inspiration (2).. Interurb Rap Tr. Internat Agri. ., In Ag C pr pf(7) Int Bus Ma (3).. Int Cement (4).. 56% Int Cement D!U) lNK mn 104% Int Com Eng 62% 64% 52% Int HArvltr(l) 128% 128% 127 IntMtoh pf(3.20) 66 65 64% Int Mer Martne.. 7%’ 74 7 Int Mer Mar pf.. 84% - 35 83% Int Nickel (2)... 89 «‘m WK Int Paper pf (7). 98% Int Tel &Tel (6) 123% lllh lll\‘ Int T&Telegrts. 7Th % Th. Intertype (11%) ” 23 Jewel Tea...... 7% Jordon Mot (8).. 21“ Kan City South. . 44 Kayser J (3) 38%, Kennecett (4)... 56% Kinney G R (4). 64 Kresge S8(1.20). 53% 22% t!\t fl\t Kresge Deft 8. . Laclede Gas (8) no 170 170 281K 28 Leh&\"ink stf(3) Life Sav u.uo).; Loew's Inc (2). Loft v | Long Belt 4 (1) Loose Wiles., ... 1!fl Lortllard(3). Lorillard pf (7). ll. Loutsiana Of1. La Oll pt (7). LouisGasA(1.75) Ludlum Steel (2) McCrory B 15.60. Melntyre P ( 26 Mack Trucks (8) 120% Mack T 1st (7).. 118 Macy HR & Co Magma Cop (3). Mallison & Co... Man El Sup(5%) Man-Elev gtd. .. Man El gtd(D5)y Man Shirt (1%)° Manila Elec rts. Maracaibo Ofl. .. Marland Ofl (4). Marlin Rock (2). % May Dept St (5). 118 Maytag Co (2).. 23% MetraG pf(1.89). Mexican Missour! Pacifie. Missour! Pac pf. Montgom Ward. Moon Mot (3)... Mothr Lode(760) Moter Met(: Motor Whi (2).. Mullins Body... ‘Munsingwr (3). Murray Body... Nash Mot (13).. Nat Acme (sta). 9% | Nat Biscult t4%. 4“4 68% 21% 21% 21 168% 162 162 116% 116% 1;:'4 Nat Cash Rex(3) Nat Dairy (3)... Nat Enamel & 8. £} 16! f (1), 116% Nat Po& Lt(40e) 23 Nat Supply (4).. 68 Nevada Cop (1). 18% NY Afr Brake(2) 40% - N Y Airbrakerts . 2% 4% NY Central (7).. 181% NY Chi&StL(11) 180 NY NH & Hart., 4f% NY On & West.. 23% N Y Rys 2d stpd. 111 lll 111 NY State Rys... 204 204 - 204 uu 2RY ~28Y 864" 36% 158 152% North A (B3.40) 52% B4 North Am pf(8). 1 NthAm Ed pf(7) 05% 956% %724 o 3% :3‘ 1% ‘flfl l”\‘ 130% 180 ° 1% lfiK % T 23% 26 Norfolk South. . Il“ ). % | Oppenheim (l).. 55 . [§ .. 9% Cont Mot (80¢).. 11 Corn Prod(t2%) llh Coty Inc (4) Crucible St1 Cushman's (8). . Cuyamel Fr (4). Davison Chem. Del & Hud (9) 98 46 95% EP&Lpt 40% (7) 106% E P&L full pd(7) 108 Blec Refrig(f3). 124 Blec Sto Bat(16) 834 Emr-flr l'f cll 84 FedLigh:! 9 Fed u’l“ Pe2(8)s Fed Min & Smelt Orpheum Cir(2) 30' 80 i Otis Blontur (O} IIOK l!OI‘ lm Otis PN . 28% 20% 12 s % ”2: be encountered if declines, fnasmuch 28% 28% “’l “'96 Ir C&C pt(5) d Valr pL(E). Vivaudou o BEST-GRADE BONDS @ONDS@ ummwmnu-aumanm STILL ARE HEAVIER W % Speoulative Railroad Issues Are lrreqular—Forelgn 0b- . ligations Steady. . \ BY GEORGE T. HUGHES., Special Dispatch to The Star. NEW YORK, July 16.—High-grade bonds were: still heavy in today mar- ket, with quotations around the lows of the reaction, and only in a few in- | stances was any substantial recovery shown. Apparently then had been a m-un in institutional buying, which, com bined ‘with alarge financing, actual and pmpocflvo. and a firmer tone in timé brought the bond ru.\'m to n. halt, témporarily, at least. .It is reasonable to -expect, however, that support will there are further the long-term for money .remains un- 8 Central Pacific §s, selling today at par for one blogk of $102,000 par ue, were down 2 points from tho h of June. Baltimore & Ohlo Southwestern 5s at 108 were down 11y points from their top. -Bt. Louls, San Francisco llens A 4s dipping below 83, compared with 845, the year's max imum, Illinojs Central joint 6sat 101% today gad lost almost 2 pdints from the best earlier in the year. More or less the same conditions prevalls throughout this of the list. Even the speculdtive railroad bonds continued irregular today. New Haven convertible 6s were in_supply around 103, against the high of 104%. Small losses were recorded by the bonds of the type of Chicago-Easte! Illinois 5s, Chicago Great Western Denver and Rio Gnndo ‘Western §s and Western 45. The strongest section of thl ‘high- Yleldln( part of the market was copper group. Anaconda 7s, Chile Copper. 6s and Andes 7s were all in good' demand. Detroit United 4%s, at 95, were up a point from yesterday's Tow. There was unusually heavy selling of Brook- lyn Manhattan 6s, carrying the price down 3% point to 96%, which com. pares with the year’'s high of 98. Sin. clair Oil 6%s held around the low of the day before. Foreign bonids were steady. French issues again displayed indifference to the fate of the franc. German Gen- eral Electric 7s were strong, up over a point. Japanese obligations were amount of uw F UNITID CTATI.- 888 102 28 102 20 ‘102 21 1101 2L 101 22 10t ll 11045 1045 1045 63 1086 1083 10 FOREIGN. Low. Closs. Juby. 14 l‘l’? ”\i 9% Argentine 6s Oct 62 12 99% 89% Argentiné 8s A.... 13 100% nu 9% Argenting 00% 09% 894 100% 100% .100% 98% 98% 98% % lOH‘ IOIK m'/. 104% IN% mu 101% 101% 101% 20 102% 10214 1024 101% 100% 100% 1004 100% 100% 108% 108% 108% 91031024 102% 15 102% 102 102 4112 111% 12 2 111% 111 111 9 104% 104 104% 2 103% 103% 103% 2 108% 108% 103% 106 108% 105% ll 105% 106% msu 8% 98! 90 Czecho 8s 1953 et. Danish Munic 8s A. Danish Munie 100 100 156 103% 102% 9 88% 88% 8 98K 98% 8 82 82 9% firm. The new Toho Electric 6 per|Nord 6 per cent notes sold at a premium over the oflurlng price, Of the day’s new offerings, the $10,- 000,000 Free State of Bavaria 20-year 63s, priced at 92% to yleld over 7.20 per . cent, were “quickly sold. The bankers were the Equitable Trust Co. and Harris, Forbes & Co. A syndicate headed by the Continental Commercial Trust and Savings Bank of Chicago is offering $2,500,000 Brown Paper Mill serial 6s, maturing 1926 to 1941, at prlcten to yield from 5.60 to 6.20 per cent, i sk ALLIS-CHALMERS PROFIT. NEW YORK, July 16 (#).—Net profit of $1,364, reported by Allis- Chalmers Mmummflnl co for the first five months this y is_equal after preferred fllvldend. to fl 42 a share on the common stock outstand- ing. 'Profit and loss su: was $14,- 948,203, against 311.2‘! 302 ll. the close of 1925. bert Theatre !lmmvnlgn.!l). 64 6t 36 > §td Of1 NJ (7). Sterling Pro (5). Stewart War (6) Stromberg (6)... 62 Studebaker (§ Superdor Ofl.... !wutlot ltn...... svmhm ‘Thompson (3.60) Tide w-.:o:(’xm Timken (14)..-. B5d! Tol 7 1085 U 8 Distributing Us Exprtuunf Va IronCoal &C ° 1044 1024 108 1 ’IN% 104% 8 105 104% 20 09% 98% }: 8% 87% Sao Paulo l-‘l 8. Sao Paulo 19! 1 84K 84k 42 103% '108% 1084 2 104% 104% 104% 8 1043 104% 104% & b 118% 118% 118% Utd Kingm 53837, 21 104% 104% 104% Uruguay 6110 109% 109% MIUCILLANEOU‘. 1 108% 103 108 103% 108% 103% 8K 98 102% 1024 102% 1004 1004 100y | Mo Pac 84 105% 104% 104% 88 97T% 97T% 104 103% 1 ll 107% 107% I 65 102 101% 101% :ll( 1 91 08 A01% .100% 100% 98% 98 984 :02‘ 102% 102% 101% 101% 101% 108% 103% 103% 167% 146 147% 99% 99% 99 104% 103% 10434 10216 102 1024 1085 108 1084 1004 100 - 100% Iflh 106 = 081 JOPNI Sume Cen ofs ‘Chile Copper §s 32. 2 - acRaw 106% Iggu 107% s :0‘ 1035 l.l 16 il 1t 1084 106 106% 1104 1104 110K 1216 120% 12140 101% 101% 10}% 102% 10214 102% 2 108k 1024 0% § 104% 104% 1004 72 92% 914 91y 9 95 94% 9u% 17 90% 994 oon 3 n 1054 : 104% Io:: lNu Lacl G ref 58 34%. 0’\ 100% 000 mlfl‘fli“lu-- !0 103% IOIH 108% tt & Myers 78 I 122% 12 W i 185% 100 Lorillard (P) 5s. 2 100% -un 17.100% 100 - §00% 0 mu 104%- lgg'u lI Nl‘l Wlu .lu: z;zzz &% 3 Ze & S H : ;a g? e S Sy £2 s-- - st H g & “100% 300% M‘”a 104% 110 110 m l"lt ¥ 8 §§5 v 3 3883 : 104% 104'% 104 Youngstn 8 & T €s. l‘ 104% 104% 104% BAILROAD. 10 84k &3% 5 102% 102% Cent Pao 15t 53 Ches & O cv 4% Chies & O gn 414, Ches & cv bs. y | market was credited CM&StPov4ys, CM&SPove 4 aszote CM&StP gndtys. CM&St Predats.. 2 CM&StP r 4348 of14 CM&StPovbs... CM&SP cv 58 ofs 14 CM&StPes % |2nd hot sun. Heat in Northwest and Lack of General Rainfall Give Values a Boost. By the Assoclated Press. CHICAGO, July 16.—Wheat prices ran upward 3 cents a bushel in the early trading today before there was ‘\any important reaction. High tem- peratures in the Northwest and ab- sence of any meral rainfall in the Spring crop States acted as a de- cided stimulus to buyers. Opening % to 1%c up, the wheat market quick- ly developed notable strength. Corn And oats sympathized with the wheat advance, corn starting unchanged to % cent higher and subsequently scoring gains all around. Provisions werd easfer. ‘Wheat in North Dakota especially 1s reported going back fast under wind One crop authority tele- graphed from Minot, N. Dak., says that for 150 miles from Jamestown, north and west, the wheat crop is gone. Scores of mowing machines are cutting 6-inch wheat for hay. Much of today's buying in the wheat to the East. Some leading houses that sold on flur- ries yesterday were aggressively on the buying side today. Notice was taken of advices that the Canadian crop is approaching the critical pe- riod. In this connection it was re- ported that some good rains had taken place in Canada,- particularly around Saskatoon. Saskatchewan. WH] e\ ek Re8 5237 285 P 5 52“ s ininds C &S 1st 48 3 Colo & Sou 4% Cuba R R 68 8 109% Del & Hud Istrras 5 924 Del & Hud cv 58 35. 70 113 Del & Hud D& Rio G Imp Bs.. |6 D Rio G West b Erie conv4s D. Erie conv ext Erte & Jersey 110% 110% 99 9 107% 107% 115% 115% 1004 Gr North gen 7. ... 5 Havana ERL&P §0. 4 Hud & Man ref 6s.. 23 Hud & Man aj 5 Il Central ref 4; =] ® Buying in Winnipeg. Trading Is More Active To- day—Two Bank Stocks Are Dealt In. BY EDWARD 0. STONE. Stock prices were firm on* the ‘Washington Stock Exchange today When trading was much more active than yesterday. Capital Traction ap- peared on the board at 104%; Potomac Electric Power Preferred came out at 108; five of the interim certificates sold at 106%; while one share of Washington Rallway & tional Bank of Washington stoc! sold at 285, The day's trading in- cluded two sales in Mergenthaler Linotype at 106%. In the bond di- visfon Washington Gas 5s brought 100%, the 6s sold at 103, while Georgetown Gas bs sold at par. Wash- ington Railway & Electric 4s changed hands at 82% and Capital Traction 68 at 100%. Building Association Elects. At the annual meeting of the stock- holders of the Northeast Building As- sociation, held in the association’s of- flce, Twentieth street and Rhode Island avenue northeast, yesterday, the following were elected directors for the ensuing year: H. C. Alt.hofl L. L. Anderson, K. P. Armstrong, N. “|D. Hllan Julian ¥. Belfield, Allen E. Cowle D.. Donovan, J. E. Dono- Dow A. L. Foster, Frank ‘W. Charles Heitmuller, ’l‘homu P’ Hickman, Alfred Jeffery, hn L. Knopp, Thomas S. Mallon, Rndmon Mayo, James E. Payne, James L. Sherwood, Joseph P. Stubener, Schuyler 8. Symon: William 8. Torbert, N. J. Ward, Roy L. Swenson, John Rubino, John A. Openshaw and J. L. Sherwood, jr, At the directors’ meeting the fol- WINNIPEG, Manitoba, July 16:(#). lnwm‘ officers were re-elected: James 1 | —Speculative buying continued today as the Winnipeg Grain Exchange opened, in which wheat rose 4 to 4% cents a bushel. Grain for delivery in July reached $1.64, October, $1.44%, and December, $1.43. - GRAIN AND PRODUCE. BALTIMORE, July 16 (Special).— New potatoes, barrel, 1.00a3.50; 'gushe‘ 1.00a1.25. Bean!, bushel, corn, dozen, 15a30; cucumbers, bask 40a50; eggplants, crate, 2.00a3.5 75a1.00; peas, bushel, 1.50a2.25; pep- pers, crate, 2.00a3.50; squash, basket, 30a40; tomatoes, crate, ripe, 75a1.50; sreen, 50a100. Apples, barrel, 1.0023.00; bushel, blackberries, quart, 10a14; cherries, pound, 10al8; cantaloupes, 90a4.50; huckleber: apples, crate, pint, 8a12; blackberries, quart, 10al watermelons, 100, 25.00a50.00. Selling Prices at Noon. ‘Wheat—No. 2 red Winter, domes- tic, spot, no quotations; No. 2 red ‘Winter, garlicky, spot, 1.48%. Sales—Bag lots of nearby at wharf sold at & range of 1.33 to 1.40 per % | bushel. 3 MStP&SSMbs3sgtd 22 M StP & SSM 6% MK&T4sB MK & T adj b Py MK&TprinbsA. %s 2 71y Nrchlumugu. 11 104 NYChi&StL u.n_ % | 693 in the first half of 1925. Corn—Domestic, No. 2_yellow, 90 per bushel in carload lots; No. 2, spot, export, 84; No. 3, spot, export, 82. Oats—No. 2, 60 per bushel; No. 3 49 per bushel, nominal. Rye—Nearby, old, 80a30 per bushel; No. 2, export, spot, no quotations. Hay-—Receipts for today, 36 tons. The demand for hay is quiet and centered on the better grade of tim- othy and clover mixed and No. 1 clover. The medium ahd poorest les are in ample supply, with very % little outlet for common hay at any price. Quotations, per ton, today: No. 2 timothy, 26.00a26.50; No. 3 timothy, 14 | 23.00a24.00; No. 1 light clover mixed, 25.008.25.50; No. 2 clover mixed, 23.50a 24.00; No. 2 clover, 20.00a21.00 Straw—No 1 wheat, 13.50a14.00; No. 1 oat, 14.00a14.50. OTIS ELEVATOR PROFIT. NEW YORK, July 16 (#).—Net profit of the Otis Elevator Co. for the first half of 1926 rose to $2,683,018, after depreciation, Federal taxes and other charges, compared with $2,301,- Net for the seconfl quarter was $1,319,817, against $1,051,350 in the second quar- ter last year. NEW PREFERRED OFFERING. * NEW YORK, July 16 (P).—Public % | ofterings today include a new issue ot 1% 1% 10016 100% Pennsyl con 4%s. , Pennsyl gen ¢3s. . 30 112 9 107y 107% 1 . ‘Ufi % 1075 41% a1l 4 10216 1034 101% 1014 7% 97 83 53“ i | seconds, 33a34. W 106% 106% 116 121% 107% 1174 [l . 10 101 Jor 1o 2 “s9u % lo ')‘ 991 2 1004 105 1000 .a 108% 103% ‘n’:..m ’!K i‘“ on s, m | Whela LEre4}s 2 so son son % $7,000,000 cumulative 7 per cent pi ferred stock of the Middle West mm- ties Co., priced to )1eld about 6.54 per oenl The company’s common stock a market value of about S“ 000,800. . —— PRICES ON PARIS BOURSE. PARIS, July 16 (#).—Prices were firm on the Bourse today. Three per cent rentes, 45 francs 5 centimes; ex- change on London, 206 francs 40 cen- times; 5 per cent loan, 45 francs 65 centimes. The dollar was quoted at 42 francs 49 centimes. BUTTER IS HIGHER. . CHICAGO, July 16 (#).—Butter higher; recemu, 1) 157 tubs; creamery extras, 38%; dards, l’l%l.l'l%. firsts, e WOOL BUYING ACTIVE. BOSTON, July 16 (Special).—Free mvoement of quarter-bloed fleece wool featured the wool market today. Buy- ing by knitters and weavers ‘is active around, 43 cents, and some dealers are for 44 cents, which is the cqulvalant of 75 clean basis. n- siderable quarter-blood Territory wool has moved at the equivalent of 80 clean, There is a broader inquiry ‘for low foreign cross-bred, sool with Men- tevideo 3s at 32 and d4s at 30, The market was slightly more active than at 2h. start of the week, > SHORT TERM SECURITIES. (Quotations turnished by m‘&ur Sherwood, president; W. Charles Hellrnullar, first vice pr!lldcn(‘ John L. Knopp, second vice president, Schuyler 8. Symons, secretary; Allen E. Cowles, assistant secretary: Frank M. Hatley, treasurer, and Wiiliam S. Torbert, counsel. Mr. Sherwood was elected for the eleventh time. He is the only presi- dent the association ever had, it hav- ing been organized in September, 1916. Gets Cotton Exchange Seat. George A. QGarrett, the resident partner of F. B. Keech & Co., mem- bers of the New York Stock Ex- change, has been elected a member of , |the New York Cotton Exchange, the New Orleans Cotton Exchange and the Liverpool Cotton. Assoclation, This firm has taken over the busi. ness of Stephen M. Weld & Co., for- merly one of the oldest and largest cotton brokerage firms in New York, which was dissolved July 1. Messrs. Edward M. Weld and Bulkeley L. Wells, heretofore members of the firm, will be in charge of the cotton department with F. B. Keech & Co. Mellon’s Bank Charter Views. ‘Whether the question of renewal of the charters of the Federal Reserve Banks will come up at the next ses- sion of Congress remains to be seen. Even though the present charters have eight years to run Secretary Mellon feels that they should’ be re- newed far in advance of their expira- tion. “Renewal does not place them be- , | yond statutory improvement, as Con- gress would still retain power to abolish the system at any time or, as has already been done 17 times, to amend the act. Postponement of action until the charters are about to expire might find the banks fac- ing an economic situation like that of 1920-21, In that event renewal could hardly be obtained without bargaining and _concessions that might be politically necessary, but economically indefensible Apprecis ation of the advantages of the systemn seems to be more widespread than ever, and the question is one that should be brought up while the country is in a quiet and prosperous condition,” he says. Recalls Bankers’ Great Friendship. In speaking of the death of John M. “'em. John L. Edwards, head of John L. Edwards & Co., said today that a most remarkable friendship existed between the senior partners of Hornblower & Weeks. They were like brothers. Mr. Hornblower was abroad on one occasion when Secre- tary Weeks was taken Il here in ‘Washington. He sailed for home at once and ed to the Capital to see his friend and partner. “T would not trust the cablegrams, as I wanted to see John Weeks and see how he looked,” said Mr. Hornblower on his arrival here. Dallas Convention Ends Today. The national convention of the American_Institute of Blnkln', at Dallas, Tex., ends today with el of officers, followed by a farewell L this evening. The Washington dele- gates are to leave Dallas at midnight for New Orleans. They will s three days there and then sail for New York by boat. They expect to arrive in “nhlnmon on July 26. B. & 0. Passenger Traffic ‘Passenger revenue for 1925 on the Baltimore and Ohlo was $27,904,665.29 and comprised 11.75" per cent ot g operulnx revenues, showing a d.~ , as compared with 1924, of ll 143,053.09, or 3.94 per cent. There were = 14,745,684 passengers carried during the year, a decrease of 2,161, 531 passengers, or 12.78 per cent un- der the pn‘goul yun:‘ r'nne Immw distance each passe: was 59.57 miles, compared with 53.38 miles in 1924, an increase of 11.60 per n “T‘l;em ‘were 81,221 ltoelbo!dm of the company recorded as of Decem- ber 31, 1925. Reserve Bank Discounts Drop. ding® at the Federal Reserve Ba?:‘{l g:‘ o nd continued to con- during the noond week in !h.alohl n:odhdns $4,724,000. Bils discounted amounted to $4 OIOIM against O“.IQIN the week bef: a decrease of u.mm fl‘hmfi in the apen lower, at “-'"-m v ol Reserve n stood at $70,207,000, & reduction of u.nem ln week. * Member bank deposits totaled $68,129,000 and were $5,054,000 lower. ~Reserves to] $87,648,000, against .$89,091,000 Other Financial Notes.

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