Evening Star Newspaper, July 21, 1926, Page 24

~ WEAKPOINTSHIT N STOCK MARKE dson Driven Down—Gen- £ eral Motors Breaks Two. % _Points. £ BY STUART P. WEST. 8 al Dispatch to The Star. NEW YORK, July 21.—Price clanges in stocks were again much cdpfused today. It was a market daminated by professionals, who for ] most part were at work exposing weak points. A sharp drive against th® leading motor shares occurred shortly after the opening, and, while it was checked later on, had a damp- ening effect upon sentiment. Hudson Motor, which closed at 67 yvesterday, was driven down to 63% before buying orders made their ap- pearance in sufficlent quantity to stop the decline. General Motors broke r 2 points and Dodge Brothers “A" jver a point. Later on part of these 8 were made up. ‘The rise in the equipment shares a8 checked. Baldwin Locomo- ive, American Locomotive and leneral Railway Signal all came lown. Texas Gulf Sulphur made a éw high record as it crossed 160. ‘ongoleum was strong for a time and were American Safety Razor and Fational Biscuit. On the other hand, ernational Combustion broke sharp- and the little buying which ap- red the previous day in the mer- ndising stocks disappeared. # Woolworth and Montgomery-Ward eére lower. Wall Street thought that e persistent selling of Lorillard com- on was due to uncertainty regarding s dividend. American Can was of- fered freely. It went down a. point terday and it continued to decline day. Anaconda was the leader in the per group. Its ability to get above e 50 level, where, supposedly, there as a lot of stock for sale, made favorable impression. Anaconda, ugh its holding of Chile copper, is-in the position of the South Ameri: cffi companies, which have a great a@antity of low-cost ore to sell. Cerro d8 | Pasco was strong, but realizing s made their appearance in Ameri. c4n Smelting. Kennecott appeared to b§ stopping around 56. Calumet and na was bid up nearly a point. gl)él stocks continued to sag. Mar- bt reached the lowest it sold at in sdme time. Pan-American B was offered down again, then had a small rally. Stocks like Sinclair, Atlantic Refining, Mid-Continent and Union Oll.of California were only fractionally cBanged. ilway shares were generally loWwer. Atchison at one stage was off ngarly a point. Southern Pacific was dgwn a half point anl Reading @ point apd a half. On the other hand, the sgecial buying in Chicago, Rock Island d Pacific which had carried the sfock up over 3 points on yesterday cénitinued. Markets at a Glance NEW YORK (#).—Stocks, higher; sfel shares lead recovery. Bonds, | hedvy; French issues continue to de- cline. ' Foreign exchanges, steady: Fyench francs recover 20 points. Cot- tdy, firm; predictions, further rains SOfthwest. Sugar, barely steady: Cuban selling. Coffee, easy; easier Bffzilian markets. i}flCAGO.—\\'heat. steady; report ofSpring wheat damage. Corn, lower; liquidation July. Cattle, lower. Hogs, weak. ‘BALTIMORE CUSTOMS RECEIPTS SHOW GAIN shington Collections Included, ¢ Total Is $16,051,727 for th= Fiscal Year. Special Dispatch to The Star. BALTIMORE, July 21.— Customs regeipts through the port of Baltimore for the fiscal year ending June 30 shbwed a marked increase In activity as compared with the previous year. he total collections for Baltimore and Washington, which is in the loeal | customs district, were $16,051,727 for 1928, as against $14,624,742 n 1925, iis was done at a relatively lower eXpense, since it cost only 2.784 cents 14} collect a dollar during the last al year, while in the previous year t4® cost was 3.039 cents. i{Bugar paid the highest duties of apy of the imports, both in amount relative value. The dutlable im- ts for the year were assessed at 19,884 and pald duty of $6,853,408. ganese ore was next, with a valu. n of $2,820,342 and dutles paid of $1/803,859. Other items that loomed in the customs collections were manganese, egg volk and al- en, cherries in brine, seed leaf co, olive oil, magnicite brick, s, earthenware and china. he number of vessels entering the t, foreign and coastwise, totaled 3, with a tonnage of 3,982,103 tons. figures for last year were 1,273 sljjps and 3.835,753 tons. | POTATO MARKET WEAK. ICAGO, July 21 (#).—Potatoes— eipts, nine cars; total United States yments, 504; on track, 209; trading ‘very slow, market weak; Kamnsas and uri sacked Irish cobblers, very 1 sales, 1.25a1.50; Virginia, barrel Irish cobblers, 3.90a4.25, according to quiality and condition | IRON AGE COMPOSITE. INEW YORK, July 21 (®.—The Iron Age pig iron composite price re- mhains at $19.46 per gross ton, the low point of the vear reached last . week. The finished steel composite price is unchanged for the fifth con- secutive week at 2.431 cents per pound. GERMAN BONDS AND STOCKS. {Quoted in dollars per million marks.) | Asked. oted bt 3 g ] B 5 8 % 25105 83823533" 58888533 8853332 BomrBEEEEE Somm B = 7 d k) NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Oven. Abitibl Pow (4). T4 Abrahm&Straus. Adv. Rumley.... Ahumada (v1). . Alr Reductn(15) Albany Paper. 27 21 Allled Chem (4). 127% 129 Alliance Rity(2) Allis Chalm ().. Allis Chal pf (7) Amerada (2) Am Bank N. j Am Bk N pf Bid. Asked. 914-18 112600 1175.00. G St ana e 1 111800 119800 8eE oo for In) .. 200 : ih dollars 28888252883383 gk Am Beet S pf(7) Am Bosch Am Brake 1 Am Br Bov E1(2) 39% 40 (..) 56% 57% B6% G6% Am Car&Fdy (6) 100% 101 Am Chain A (2). Am Drug....... 7% 7 Am Express ().. 126% 126% 1264 126% 21% -21% 2}\‘ 21% Am Can (2). Am & J">r Pow. . Am Hide & Lea. . Am Hide & L pf. Am Ho P (2.40). 43 18% 18% 134 18% 8% 8% 8 . 8 118% 122 118% 1194 8% 8% 8% 8% 45 874 110 264 26% 26 8 39 Do 124% 124% 120 124% 12 33k 32% 33 Am Locomot (8) 105% 105% 103% 104 Am Mach & Fy. . 7 33 2% Am Ma & Fy pf 7 116 Am Metals (4).. Am Po&Lt (g1). b63% 54 67% 67% 66% 67 Am Radiator (4) 110% 110% 110 Am Safety R (3) 624 66 Am Sm & Ref (7) 134% '134% 182 AmS &R pf (7) 119 Am Sugar. (5)... 67 Am Sugar pf (T) 102 Am Stl Fdys (3). Am St Fy pf(7). 111% 111% 1 Am Sumat A cfs Am Tel & Tel(9) 141% 141% 141% 141% 6% 6w 6% A Tel& Teleg rts 42% 42% 42% 42% 26 Am Tobaceo (8). 121 Am Tobac B (8) 123% 120% 119% 120 12t Am Writ Pa pf.. AmZine pf... . Anaconda (3) Archer-Danlels. Armour of II{A) Armonr of T11(B) Arnold Con (n). Artloom (3).... Asso Dry G(2%) Atchison pf (5). At Birm & At.. . % ) % % At1C Line(1933) 218 218 218 218 48% 44% 43% 44 46% A45% 45% 46% 108 111% log .1021. 12 -1 M - 8% T34 8% 8% Baldwin L (7).. 124% 124% 120% 121% Bald Loco pf (7) 11 At1 Guif & WI... Atl Gulf&WI pf, Atlantic Refing.. Austin Nic pf(7) Balto & Ohto(§). Bang & Ar (3).. Barnsdall A (2). Bayuk Clgar... Beech-Nut (13). Belding Bros(3). Bethlehem Steel. Bloomingdale. Booth Eisherles. Botany A (4).... Brigegs Mfg (3) British Empire. . Bkin Edison (8). Bkin-Mn Tr (4). Bk-Man T pf(6). Bkin Un G(#11). Brown Shoe (2). Brunswick Ter. . Buff R&P pf (6). Buft & Susq pf- . Burns Bro (10).. Bush Ter de (7). Butte Cop (50¢). Butte&Super(2 Butterick. . By-Product Calif Petrol(2).. Callahan Zine. ... Calumet& Ar(6). Calume&H(1%). 40% Atchison (7).... 186% 1 9 3% 44% 46% 44% 102% 102% 102% 1 80% 30% 30% 30% Bloomingdle pt 7 106% xog% lOGa 106% 6% 24 30% 30% 29% 30 % % % 142% 142% 142% 14 64% 64 84% B8d% B4% 84% 88 81% 31% 31% 31% Brunswick Balk. 28% 32 18 98 43% 43% 43% 48% 138 ughs (14). 104 foieoi ot 921 92% 92% 92K 5 5, 5 5 11% 1% 31% 31% 28% 68% b68% 38% 11¢ Packing(8) 137% 137% Callt pecrol(s 321 32% 1% €9 16% 16% Can Pacific (10). 162k 162% Case Threshing. 132 Case Thr pf (7). 112 Cent Leather.... Cent Leather pf. Century Rib M. Cerre De P (4). . Certain-Teed (4) Ches & Oh (112). 14 Chi& Alton. ... Chi & Bast Chi&East Ilpf 41% 41% Chi Great West. ChiGr vzesn Ip.l'. ChiMil&StP.. ChiMil &StPpt 17% 17% CMil&St Petfs '10% 10% C MU&StPptefs 17 Chi & Nwa (4).. Chi Pneu T (6).. 114% 114% ChiRI& Pac... b6% CRI&P DI (6). CRI&P DL (D). Childs (32.40)... Chile Cop (2%). Chino Copper. ... Christle B (1.20) | Chrysier Corp(3) 38% 38 Chrysler pfA(8). 104% 104% Coca-Cola (7)... 159% 160 Collins & Atkmn. Collins&Alk pf 7. 106 Col Fuel .r. Iron., Colo Southern. .. El (6). ' 83% 83% Col Gas & El (6) o o Col Carbon (4).. Com Cred 1st 6% 60). . Consol Cigar. ... Consol Distribut Consol Gas (6).. 1 Consol Textile. . ‘Cont Can (18) Cont Mot (80¢).. Crucible 8tl (5). 8% 54 16% 67% 68 47% 48 1% 142 6% b 2% 82% 9% 24 11 70 £8% 8% 99l 99% 63% 53% 33% 34% 23% 28% L46% 46 46 93 63 . 161 164% 3 21% 28% s Cer(3) 48 s s 694 3% 01% 103% 1% 1% 80% 81 £ (7). 122% 1224 Cont Can pf (7) e 0% Corn Prod(i2%) 45% 46% 6 Crueible pt (7).. 100 Cuba Cane Su pf. Cuba.Co (4):-..e Cuban-Am 8 (2). Cushman’s (8).. 100 Cuyamel Fr (4). Davison Chem. . 45 36% 387 Del & Hud (9).. 162% 162 Del L & Wn (17) 146 Devoe&Ra(2.40) Lodge pf (1).... Dome Mines (2). Douglas Pec (1). t (119)... 2574 261% gfl;;::‘ 3» (8)..106% 106% 118 113% Eastman (18) Eaton Axle (2). Eisenlohr & Bro, Electric Boat. .. Eleo Power & ; 106% 105% 1 £ 40% (7 EP&Lp! '96% Bleo P & L p2(7) Eleo Refrig(f2). End-John (6)... d 2 (7) 1164 116% Equitable p! (3 g 44% a4 54 B4% MRB.‘ Brie 18t pf... Eureka Vac (4). Fairbanks (3). 5% ls 1(J2). 1L Famous P1 (J P % 1 res. . Famous edLipht(*1.40) 0% 30% Fea'Min & Smelt o First NatS(1) 324 32 4%). 824 824 Ry L (7). Outdr A () 1 6% 20 46% 46 100% 100% 68 69% (60c) 11% 11% 11 (116 166% 170% 1% 117 8 3 1% 111% 1 6 96% 106% 105% 105% 461 47% 46% A46% 60% 61% Gen Ry Sig t4% . Glmhm:l b Goodrich Ru (4) Goodrich pf (7). Goodyear pf (7) Grt North pf (5) Gt Nov Ore (1%) Grt Wstn Sa (8) Green s | Gulf Mo & Nor. . Guit States S (5) ll:ow . udson Mo(3%) Hupp Mot (1)... Tllinots Cen (7). Indep Ol (1). Indian Motor (2) Indian Refining. Indlan Refgetfs. Ind Ref pf (7). . Ingersoll R (14). Inland St (2%) Inspiration (2). Int Bus Ma(3). Interurb Rap Tr. Intconti Rub(1). Internat Agri. .. Int Cement (4). Int Cement. Int Com Eng (2) Int Harvstr(6).. 127 Inter Har pf (7). 124% 124% IntMtch p£(3.20) 66% 656% a3 Int Mer Mar pf. Int Nickel (2) Int Paper (2). Int Ry Cent Aj . 27% Int Tel & Tel () 124% 124% % Int T&Teleg rts. 7% Intertype (t1%) 28 Jewel Tea...... 387 Jordon Mot (3).. 22 KCP& L 1st (7) 112 Kan City South. Kayser J (3). Kelly-Spring. Kennecott (4)..: KeystoneT & R. Kinney G R (4). Kinney pf ¢8).. . Kresge 88(1.20), Lago Oll & Tran. Lambert (3%).. Lee Tire & Rub. . Lehigh Val(3%) Leh&i™nk stf(3) . Life Sav (1.60).. % | Loose W 2d (7).. Lorillard(3).. Lorillard pf (7). Loutsiana Oll. LouisGasA(1.76) Lou&Nash(16%) Ludlum Steel (2) 37% I8% McCrory B 15.60. 81 McCrory pf (7). 108% 108% Mcintyre P (1).. 26% 25% Mack Trucks (6) 124% 125% 1 | Mackay pf (4).. 7 Macy HR & Co.. Magma Cop (3). Man El Sup(6%) Man-Elev gtd. ... Man El gtd(D5). Maracaibo Oil. M FZrn Martin-Pary(2). Mathieson (4).. May Dept 8t (5). Maytag Co (2) MetroG pe(1.89). Mexican Seabd. . Mitami Cop (1) Middle States. .. Mid-Continent. . Midland pf(t10). M Missouri Pacific. Missouri Pag pf. Montana Pow(5) Montgom Ward. Moon Mot (3)... Mothr Lode(76¢c) Motor Met(3.60) Motor Whl (2) Murray Body. Nash Mot (13).. Nat Acme (sta). Nat Biscult t4% Nat Cash Reg(3) Nat Dairy (3)... Nat Distillers. Nat Lead (8) Nat Po& Lt(40e) Nat Fy Mex 1sf Nat Ry Mex 2d.. Nat Supply (4).. Nevada Cop (1). NY Afr Brake(2) N Y Airbrake rts N Y Canners C2. NY Cannrs pf(6) NY Central (7). NY Chi&StL(11) NYC&StL pf (6) NY Dock. . NY Rys part efs. N Y Rys 2d stpd. Norfk & Wn :;:) 168 2% 2% . 14% 011 Well Sup 34% 4% 1 Omatbus... 5 Oppenheim (3).. Orpheum Cir(2) 30 Orpheum pf (8. Otis Elevator (8] % | Owens Bot (14). 0% | Pac Of1 Stubs Pennsy R R (3). Penn-Seab Steel. Pere Marq (18) .. Pere Marq pf (5) Phila&RC&I. Phillips Pet (3). Pierce-Arrow... Pierce Oil. . Pierce Petrolm. . 3% 3% Pitts & W Va(6) 106% 107% Postum (5)..... 100% Pressed Steel(n) 3 Prod & Refiners. 1% Producrs & R pf. % % . 83 s 18%. 18% 18y | BubSer NJ (5)." B9k 900% € 6% 6% Pub SE&G p£(8) 102 Pullman Co (8).. 179 Punta Aleg Sug. 8% | 96s | Pure Ofl (1) 26% % 1% 'nu' % Tk Radio Corpof A. RSIliCefs (4). Rand Min(al.52) Ray Cons Cop (L Reading (4).... Reading {d (2., Iron & Steel mt&lflfl). 15| Reynolds Spngs. Rey Tobac B(5). bt Rels & Co.. 9 toos - 88% D Safety Cable (§) . Bl% | 5t Jaseph L(13). 42% StL & SanFr (7). 96% Savage Arms (4). 80 Seh uite (1) 46 Seaboard Afr L., 38% % Seagrave(el.20). 13% 13% 87% | Sears-Rn (ll.)). 54 Seneca Shattuck F G(2) 64% Snell Un (1.40).. 28 21% ‘Stmmona(12.25), 36 36 36 SELLING OF FRENCH BONDS 1S FEATURE Market for Belgian Issue.s Also Weak—German Se- curities Strong. l ON NEW YORK' B . Racelved by Private UNITED STATES. Atlantie CL7s. .. 188 1014 10080 to} _ 111 1026 1023 1023 589 100 24 100 23 100 28 * 41 1014 1011 102% 819 102 18-102 14 15 101 20 101 14 8104 10324 24 16 108 10780 107303 Sales. High. Low. Close. 89% 89% BY. GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, July 21.—Selling of French and Belglan bonds was agaln the feature in today’s market. Offer- ings were not especially large in either group, but to effect sale prices had to be shaded. and all the active obligations of both countries made new lows for the movement although still well above their record lows of 108% 106% 106% 101% 1015 101% 8¢ 84 84 91% 95 7% 104% 104% 104% 104% 108% 1024 102% 102% 101% 101% 101% 108% 108% 108% French 7s dipped below 89, against the 1926 minimum of 86%; 3s sold below 101, against their record of 981, and French 7%s at 94 com- pared with the extreme low of 92%. % All the record low points were made last March. French provincial, mu- nicipal and raflway issues suffered more or less with the direct obliga- tions of the central government. Belgian Bonds Wealk. In the Belgian list 6%%s were the weakest, down over a point. German 7s were the outstanding ex- ception to the general heaviness in Just at the close yes- terday, one bond sold at 1053, which high’ since the bonds Czecho 7%s rots. .. 4L Czecho 8s 1962 et. . foreign bonds. was a record were first issued: ruled above 105 again. nicipal and industrial issues did not advance with the international loan. The general market continued to show a sagging tendency. One or two issues among the high-grade invest- ment bonds were firm, one of them being Atchison general 4s, but these were exceptions. Even Libertys failed to rally. Most of the active specula- tive and semi-speculative rails were under pressure. Missourl Pacific 6s %| at one time were off nearly a point. Erie convertible “A’ 4s at down a point. It was much the same among the Sinclair 6%s at 93 were down 1% points from the high of 10 days. Local tractions dragged. On the other hand, copper bonds were strong. Andes 7s, at 104, were at a new high. New Offerings Absorbed. In contrast with the market for sea- soned issues, new offerings were well The most interesting of these was the $18,5600,000 West Penn- sylvania Power first mortgage series G Bs, priced at 100%, to yield less than e issue was largely notwithstanding the Institutional buying was The offering syndi- Today's quotations German mu- Jergens U M 6s 47. 3 Mexico 4s 10 asntd. Mexico 5s assented Montevidio 7s. Netherlands 6s 54 Netherlands 6s 72 Paris Orleans oversubscribed, said to be heavy. cate was headed by Langley & Co. Other new issues included $3,500,000 Commander-Larabee Corporation first mortgage 6s at 98%, to yleld over 6.15 per cent, by Dillon, Read & Co., and $2,800,000 Master Printers’ first 614s, at par, by Peabody, Hough- teling & Co., Inc. ARt RN CANADIAN COLONIZATION. ‘WINNIPEG, July 21 (Special).—The Canadian Colonization Association, es tablished to aid settlement of private- ly owned lands along the Canadjan Pacific, reports that 643 families have settled on 8,150,665 acres of farm land in the prairie provinces. Queensland 7s Rhinelbe Un 7s. Rio de Jan ¥s 1948 Rio de Jan 88 47 Rio Gr Do Sul 88 Sao Paulo 83 193 Saxon (PW) 7 Seenios Ba% Swiss Confed Toho Elec Power Ts PER R aBE= Utd Kingm 5% 2! Utd Kingm 5%s 8 MISCELLANEOUS. Am Agri Chem T%s 12 AmSmit&R1stls 1 Simms Pet (1). Skelly Ol (2) South Ry pf (6). Std Gas&El (g4 Std G & El p(4) Atlantic Refin Barnsdall 8s ctrs. Bell Tel Pa 68 B Rell Tel Pa 55 C. Studebaker (§). Submarine Eoat. Superior Ofl.... ° Sweets of Amer. Symington A(3) ‘Tenn Copper (1) Tex Gulf 8 (10). & Pacific. % ‘Third Avenue. .. t| Tide Water(13%) Tide W Ofl p£(5) Timken (t4).... Tobac Prod (7). ‘Transcont Oll.... Underwood (4) Un Bag & Paper. TUn Carbide (5) Un Pacific (10). Un Tank Car(5). Utd Alloy (2)... Utd Cigar S(e2). % Tilinots Steel 4% rine Loriard (P) 68 A B85 24 1004 100 100 B s % 4 90 99 99 | le Steel s, m’d;:"c%‘flm' 4 10214 1021 1085 o e ¥ 10245 1024 1021 9k 91% 91% 4 98 9T 9% 4 108% 108% 108% 104 103% 103% 105% 106% 106% 96% 96 Utl P& Lt A (e2), ‘Vanadium (3). ~Caro Ch(n).. Va-CarCh 6% pf Va-Car Ch p1(7) Wabash...ooeed Wabash pf A(6): ‘Walworth’ (1).'. . Bhko e 106% 105% 106% + 10 101% '101% 101% 00% 100% 5= rs~Over| 8% n i per 1k Pump... 30% i su B3% B3% 63 | i ’lm.mr-nu . . Yellow T&C rts. Youngstown (. i | > sanducaBBalnaatel % b £ (- £y H 2, 23 ONDS oo caurar] Wire Direst to The Star Office. Sales. High, Low. 10t 05 Bklyn Manhat 6s. Canad North 6%s. . Lanad North Canad Pac deb Car Clinch & O Car Clinch & O Cent of Ga ChiB&Qgn4s68. Chi B& Q 1st rt s, Chi&E I gn bs Chi Great West 4s. CM&StP 4s 25, CM&StP 4s 25 CM&St Pdb 4s CM&StPdeb 4s ef: CM&StPgn8y. CM&St Pav 4%, . 1 CM&SPev4 14s32ets CM&StP gn 4%s. CM&StP r 434's of1. CM&SP cv 68 ofs 14 % | Chi & NW gn 334 Chi & NW 7s C&WIb%n62, ccc&nu‘fs CCC& StLrt6s A. Clev Term bs. . Cleve Term 5%s. . Colo & Sou 43 Cuba RR7%4s. Del & Hua 1strras Den & Rio G cn 4 D & Rio G tmp b8 D Rio G West 5 Det United 434s. Erle gen 4s. . Frie conv 4s A. Frfe conv 4s B, Firle conv 4s D. Brie Genessee R Great North 5%s Gr North gen 7s. Havana ERL&P §0. Flud & Man ref 5s. . Hnd & Man aj §s Tl Cen 4563, T Central 5w, ... 111-C-C StL&NO §s. Int Rap Tran 6s... Int Rap Tr 6s stpd. Int Rap Tran @s. .. Int Rap Tran 7s. Louis & N uni 4s Louis & N5s B. Louis & Nash §%s. Man Ry 1st 90. Market St 7s 40 M St P & SSM en MStP &SSMen MStPASSM5s38gtd MStP & SSM 6%s. MK&T st és MK&T4sB MK & T adj 68, 2 MK&TprinbsA. MEK&TésC.. Mo Pac 63 55 1. . Mont Trm ref 5» 41 Nassau 2 Ry 45 57, NOTex&M6sB.. NOT&Mb%s N Y Cent 45 98. N Y Cent deb 4s. 24 NYCrfim4sysis NYCentriés.... N Y Cent deb gs. NYC & StL db 4s. NYChI&StL 5%sA. NYChI&StL 5%sB. NYC&StL6sA.. New Hav deb 45 56. New Havenc d & N'Y Out W 1at ds.. Norfolk & W cn Northern Pac 3 StLSWistds. StLSWcondsa2. g SanA&Arn P ds Wi ‘West Shore 1st 4s.. Whel& LErf4%s ‘Wilkes & K 1st 6s. ‘Wisconsin Cent DAIRY PRODUCTS. WHEAT HAS SETBACK, FINANCIAL BUT STAGES RALLY Close. ‘2:: Corn, Oats and Provisions Are Easy—Grain Damage in North- west Is Great. By the Assoclated, Press. CHICAGO, .July 21.—Wheat went downward early today, but showed surprising power to rally. Bearish effscts of rains and cooler fempera- tures in the Northwest were largely counterbalanced by reports that much damage done to wheat by heat and drought was beyond repair. Starting 3¢ to 2%c off, the wheat market soon recovered most of the setback. Corn, oats and provisions were easy; corn opening at %c decline to %c advance and later sagging all around. The fact that wheat prices at times today showed 65 cents u bushel decline from yesterday’s top quotations had apparently much to do with giving a strong undertone to the market. It was pointed out that the G-cent break amounted to about half the advance which had taken place since the issuance of the Ca- nadian government report showing a far greater probable reduction of yleld than had been generally looked for. Crop advices from the Spring- wheat belt continue mainly pessi- mistic. A leading expert sends word from Swift Current, Saskatchewan, indicating that as a whole the Ca- nadian prospect is decidedly below last year. He says that a large area 45 in desperate shape, rain having been streaky, and that crop possi- bilities are shrinking daily. 142 145 1 EEE i mimy hand £33 BiS Bb3 ane RRERE R A MUCH FRUIT IN PROSPECT. Maryland Apple, Peach and Pear Orchards- Heavily Laden. Special Dispatch to The Star. BALTIMORE, July 21.—Maryland apples, peaches and pears each showed a condition on July 1 about 45 per cent higher than the average con- dition treported on that date during the last 10 years. On the whole the prospect may be described as uniformly good, accord- ing to John S. Dennee, Federal crop estimator for Maryland. Apples, he says, are forecast at 2,840,000 bushels, against 1,870,000 last year and 1,541, 000, the average of the preceding five years. Peaches promise a production of 560,000 bushels, compared with 240,000 last year. Pears 387,000 bush- els this year against 280,000 in 1925 season. X AR ten EARLY ACTION SEEN. I C. C. Weighing of Nickel Plate Merger Expected in February. By the Associated Press. NEW YORK, July 21.—Action by the Interstate Commerce Commission on the modified Nickell Plate Railroad merger plan, now being whipped into shape by the Van Sweringen brothers of Cleveland, is expected not later than next February. This was revealed today when it was learned that the agreement under which the Pere Marquette Railway will enter the consolidation provides that the road be freed from any com- mitments if the commission has not handed down its decision on the new plan by that time. The amended proposal is expected to reach the com- mission at an early date and to come up for hearings early in the Fall. WILL BUY NEW TRAINS. W., B. & A. Purchase of Equip- ment 0. K’d by Commission. Special Dispatch to The Star. BALTIMORE, July 21.— Purchase of néw equipment by the Washing- ton, Baltimore and Annapolis Electric Railway for use in service between Baltimore and Washington- was ap- proved yesterday by the Public Serv- ice Commission. ‘The proposed equipment consists of 10 articulated trains of two cars each. Present trains run by the company consist of single cars coupled together. The articulated trains are expected to be placed in service this Summer. BUYS OIL FIELD. NEW YORK, July 21 (#).—Tide- water Assoclated Oil Co. has acq: adjoins propertie les of % |in the same fleld. ENDICOTT JOHNSON. NEW YORK, July 21 (#).—Endi- cott Johnson Corporation reports net profit of $1,675,284 for the half year, equal to $3.07 a share on the common. Surplus amounted to $12,734,613. COMMERCIAL SOLVENTS. NEW YORK, July 21 (#).—Net profit of Commercial Solvents Corpo- ration for the first half of 1926 rose 84! : to $688,312, equal to $6.32 a share on the class B stock, compared with $281,071, or $2.68 a share, in the first half of 1925. | LIFE POLICY SALES GAIN IN SOUTHEAST Middle Atlantic States, In- cluding D. C., Lead All Other Sections. BY EDWARD C. STONE. Life insurance sales in the South Atlantic section, which includes the District of Columbia, show the largest gain of any part of the United States for the first six months of the year, according to reports received today from Hartford, Conn., the increase being 10 per cent. This same section also wins the national honors for June, the best increase in all the States beins made by Florida, which boosted sales 44 per cent, sales in Florida totaling $11,694,000 as com pared to $8,133,000 in June, 1925. The section which has hung up these records for new business takes in Maryland, Virginia, Delaware, West Virginia, North Carolina, South Carolina, Georgla and Florida. Wash- ington is added for good measure and has reported a high rate of increase for every month this year. The re. port shows the whole country is well ahead of last June, the figures being secured from the companies which have 88 per cent of the life insurance now in force. The record for June has been exceeded in only two pre vious months, in December, 1925, and in March, 1926. Washington Gas Stock Strong. ‘Washington Gas Light stock led the market. again today, 72 shares changing hands during the session, the issue opening at 68%, advancing to % and closing at 69, the highest price reached in some time. Railway and Electric preferred sold at 88%, and Potomac Electric Power preferred sold at 108, off a fraction from yesterday. Merchants’ Transfer & Storage com- mon sold at 110 and the preferred at 101. Fifty shares of National Mort. ge and Investment preferred brought 8%. In the bond division Potomac Electric first s recorded a $2,000 sale at 100%; Georgetown Gas 53 figured in $2,000 and $3,000 transfers at 100%. while Washington Gas 6s registered 104%. Bank Campaign Idea Spreading. The educational campaign being carrfed on by the District Bankers’ Association through the advertising columns of the local newspapers has aroused wide interest outside of Wash- Pitsburgh, Indianapolis, Cleveland and many other citles have sent inquiries in regard to the way in which the campaign is being handled and asking for coples of the informa- tion published. S The next chat will appear in The Star tomorrow on “How Bank Credit Is Granted.” It is an excellent talk on a very important subject. The other two talks in the series are on “What Determines Interest Rates" and “The Service Charge on Checking Accounts.” New Issues Announced. The Standard Co. is today offering local investors a portion of the $2,100,000 of the Central Manhattan Properties, Inc., secured sinking fund 5 per cent gold bonds at 85 to yield over 6.33. D. A. Schulte, Inc., oper- ators of 268 tobacco stores, will lease the real estate to be owned by the Manhattan Co. S. W. Straus & Co. are offering an issue of $900,000 first mortgage fee 6 per cent sinking fund gold bonds of 1925 Realty Corporation, due in 1936 and secured by the land and a large Kelth-Albee Theater, store and office buflding on Main street, New Rochelle, N. Y. Personal and Other Notes. John M. Riordon, cashier of the Bank of Commerce & Savings, is taking his vacation. He started out with a visit to Skyland, Va., and has now gone to Atlantic Cit; I. A. Fleming has returned to the city after spending a week on South River at the Summer home of George O. Walson, president of the Liberty National Bank. Reports have it that the fish he caught were much larger than any taken by President Coolidge ;’llll:n‘ his recent run of extra fine uck. The Washington delegates to the institute convention at Dallas, Tex.. are homeward bound on the high seas today, somewhere between New Or- leans and New York. The latest word recelved from them stated that “Dollars and Sense,” the local chap- ter’s annual year book, made a fine impression at the convention. A survey of the building and loan assoclations of the country has been completed and issued in pamphlet form by the savings bank division &i the American Bankers' Assocla- n. Stock Buyer Loser in Suit. negligence in any error that may oc- cur. Campbell W. Fair, a wealthy Omaha man, submitted to the Postal Telegraph Co. a wire to J. S. Bache & Co., New York City, advising the broker to sell a hundred “Ino,” or In- ternal Combustion Engine Co. stock. ‘The telegrapher, not understanding the letters and being unable to locate Fair, sent “Ino” as “two,” and as a result of the error Fair suffered a loss and sued th !:esflph company. MATHIESON ALKALI CO. NEW YORK, July 21 (#.—Net in- come of Mathieson Alkali Co. for the first half of 1026 advanced to $776,156 from $784,403 in the first half of .| 1925, equal after preferred dividends BUTTER UNCHANGED. to 67 a share on the common, against $4.64 a share a year ago. CHICAGO, July 21 (®).—Butter un- | changed; receipts, 8,649 tubs. CLOAK AND SUIT SALES. NEW YORK, '"“a’ 21 (#).—Sales of National Cloak and Suit for the first half of 1926 declined to $19,5692,624, !l:;‘n $21,307,010 in the same period of 1926. STEEL IS LOWER. NEW YORK, July 21 (#)s—Hea lml’h.n r«i{x_uflg PRICES ON PARIS BOURSE. PARIS, July 21 (#).—Prices moved ly on the Bourse today. ‘Three per cent rentals, 46 francs ex- change on London, 222 francs 75 centimes; 5 per cent loan, 46 francs: the dollar was quoted at 46 francs 95 centimes. S e RSO CRANE STOCK DIVIDEND. NEW YORK, July 21 (#).—A stock dividend of 10 per cent has been de- clared ucno the oemmow;e.k (;(s n‘:o Crane Co., payable ober o holders of neodav‘%wnlflo.mbor 16. Regul uarterly lends on com- P qm‘lm‘d also were author- BOS'TON, July 21 Special).—The Hoosac tunnel of the Boston & Maine Rallroad will be enlarged to accommo-