Evening Star Newspaper, July 22, 1926, Page 30

FIN TRADING LIGHTER IN'STOCK MARKET Shares Move With Good Deal of Uncertainty in Today’s Session. BY STUART P. WEST. cial Dispatch to The NEW YORK, July —On a much reduced volume of business, prices moved about today with a good deal ©f uncertainty. During the first half of the session fhe market was strong. During the seécond half more selling appeared and this brought about irregular reactions. Inasmuch as the market has been concerned at the close Wednesday over the French financial crisis, it was inot surprising that when the franc *had a further rally today in response 20 the governmental changes, this ¥hould have been an influence. Republic Steel Gains. General Motors at the outset rallled bver 3 points, but subsequently re- ceded. There was considerable profit- taking in Hudson Motc scks. During the grea time Dodge Brothers were only fractionally stion of Republic Iron and ctors in placing the comraon stock on a $4 basis had been known In Wall Street half an hour or so be- fore the close of business yesterday but it had not been generally known outside. Consequently on what ap- peared to be outside buying, the stock ran up over a point. Bethlehem Steel and Crucible were hetically af- fected, both of them gaining ground. Youngstown Sheet and Tube at one stage was up over a point. United Btates Steel common rose a point, then svas rather freely offered Sulphur stocks were in demand— Texas Gulf and Freeport New York Canners rose nearly 2 points. - Afr re- fuction made a new high after a Fharp r Better support was ac- gorded to International Combustion &nd Engineering. Fleischmann, Fa- mous Players, American Safety Razor £nd Allied Chemical were other stocks of the so-called specialty class which Sworked upward. The same powerful Rwying which has been seen along in American Can was again in evidence, the stock crossing 58 after having closed yesterday at 56%. . 0il Shares Do Better. Oil shares, on probably what was short covering, either did better, or were little changed. The selling pres- sure was relaxed in the case of Pan American “B” and Marland. Lorillard closed sterday at 3414 at a drop of nearly 3 points. It rallied to 35% on the report which turned out to be not correct but that instead of the regular $3 cash dividend, 12 per cent stock dividend would be paid on the $25 par common. When this re- port was corrected and*it was found that instead of the cash dividend a stock distribution at the rate of 8 per cent had been voted, Lorillard came down again. American Tobacco ' issues were noticeably strong. Markets at a Glance NEW YORK, (P).—Stocks weak; prices react sharply on fears of higher bank rate. Bonds steady; French issues rally. Foreign exchanges mix French francs recover. Cotton eas expected moderately bearish bureau report. Sugar steady: steadier spot market. Coffee firm; firmer Brazilian markets, CHICAGO.—Wheat easy; terfor receipts. Corn lowe rains. Cattle steady. Hogs we: WALL STREET BRIEFS NEW YORK, July 22 (#)—Uni- versal Chain Theaters Corporation has acquired the Brody chain ef eight motion picture theaters in Cleveland, Ohlo. Last week the company ac- quired 28 theaters in Missouri, the Southwest, Oregon and Wisconsin, and now operates 198 movie houses, with aggregate seating capacity of about 150,000. Eighteen additional theaters are under construction. Net the Great No large in- good Iway operating income of thern Railway for the first half of 1926 rose to $7,020,000 om $6,844,566 in the first half of 5. Ralph Budd, president, reports present_indications for earnings for be somewhat better than Crop conditions in the territory are spotted. The volume of grain traffic promises to he about the same as last year. Owing to the late opening of navi- sation on the Great Lakes this vear ana the shortage ,of vessels for carry- ing ore, 3,803,366 tons of iron ore were moved, compared with 4,843,- 909 tons in the fi half of 1925. The New York Title and Mortgage Co.. which insures titles to real estate here in the United States, re- an increase of 87 per cent in for road’s of 1926, es having been fssued to applicants from 38 States. “Customary mid-Summer dullness not -only is strikingly absent in iron and steel, but demand is giving every evidence of further expansion,” s Iron Trade Review. “Almost univer- sally, mill specifications fn July to date are reported well ahead of June, which developed exceptionally good volume for that month. Shipments also are heavier than last month and for July, 1925. More producers are finding July business, both from the standpoint of shipments and pro- Auction, the best in their history. Others go back to the war period for parallel. Steel production is showing an upward trend almost be- vond precedent for this time of the vear.” Net earnings of Dodge Brothers, m(\tor car manufacturers, for the i six months of 1926 totaled $15,- 364, compared with $15,843,259 for the first half of last vear, E. G. Wilmer, president of the company, mnounced after a meeting of the directors yesterday. The income was equivalent of $3.88 a_ share on the common stock, or at the annual rate of Considerable .improvement Was noted in the second quarter, when net earnings were $2,800,000, Jarger than in the first three months of the year, and $300,000 above those of the corresponding period last year. Net sales in the first half of the year totaled $156,041,866, compared with $117,045,569 for the same period of 1925. ANCIAL. THE EVENING ‘STAR, WASHINGTON, D. C, NEW YORK STOCK EXCHANGE Received by Private Wire “Oven. High. Low. Close. Abrahm&Straus. 43 ' 45 45 45 Abr&Stras 7% pi 106% 106% 106% 106% AdamsExp (6). 113 113 113 113 Adv. Rumley.... 13% 18% ls% 18% Ahumada (y1).. 8% 84 8% Air Redhotn(15) 120% \23» n’m 119% Ajax Rubber.... 8% 8% 8% Alaska Junea. m 1% 1% Allled Chem (4 129% 128% 125% AllledCm pf (7). 122 122 122 122 AlllsChalm ().. 87 87 86% Amerada (2).... 29% 30 20% Am Agricul Chm 17% 17% 1% Am AgriChpf.. 61% 60 Am Bank N. 1.60 40% 40% 40% Am Bk N pf (3). 57T% 5% Am Beet S pf(7) 01 Am Bosch, 19% 18% Am Brake S| 123% 128% 128 Am B Shoe pf(7) 112% 1124 112 Am Br Bov EI(2) 39% 39% 38 AmBrBopf (7). 95 95 94% 94% AmCan (2)..... 56% B58% B6W b57% Am Car&Fdy (6) 101 101 98% 99% Am Chain'A'(2). 26% 26% flglh z_s,% ki % Drue.. Am Express ().. 123 "123 122 122% Am & I'or Pow.. 214 21% 21% 21% AmHide & L pt. 38 88 37 37 Am Ho P (2.40). 26% 26% 26% 28% . 124% 125% 124% 124% 33% 38% 382% 334 33% 38% 33w 383% Am Linsd pf (7). 79% 79% 78 78 Am Locomot (8) 104 104% 101 102% Am Loco pf (). 117% 117% 117% ll'l'r‘ Am Mach & Fy.. 72 72 72 Am Metals (4).. b52% b52% 652% MM Am Po&Lt (‘1) . 67 67% 66% 664 Am Radiator (4) 110 110 109 109% Am Safety R (3) 62% 64% 60 61% AmShip&Com. 8% 8% 8% 8% Am Sm & Ref (7) 133% 133% 180% 131% AmS&Rpf (7) 119% 119% 119% 119% Am Snuff (12).. 126% 126% 126% 126% Am St] Fdys (3). 42% 42% 424 42% Am Sumat A cfs 26 26k 26 25 Am Tel & Tel(9) 141% 141% 141% 141% ATel& Telegrts 6% 6w 6% 6% Am Tobacco (8). 120% 121% 119% 119% Am Tobac B (8). 120 121% 119% 120% Am Typ Fdrs(8) 119% 119% 1;9». 119% NICKEL PLATE SURPLUS. NEW YORK, July 22 (®.—June surplus of the New York, Chicago & St. Louis (Nickel Plate) amounted to $192,490 after charges, against $364,036 in June last year. YFor the first half of 1926, however, the total was $4,128,- 252, against $2,917,953. TREASURY CEETIHCATES (Quotations furnished by Redmond & Co.) id, . 1007 100 L 100% 100 100 2732 100 0 Yo 101 7-16 101 1 Am Wa Woc1.20 62 62 €0 2% 22% 22% 1% T 34% 487% 941 14% T4 2% Anaconda. (3) ArmourDel pf(7} Armour of III(A) Armonr of 111(B) Arnold Con (n).. Articom (3).... 56 Assgo Dry G(2%) 40% Atchison ('n.... 1303 1xnv. xssu 135% Atchison pf (6). - 3 99 984« 95'4 At] Birm & At. .. At1C Line(+9%) ns 2l8 A 211k AtIGuif & WI... 43% 43% 43% 43% Atl GuH&WT pf. 45 45 45 Atlantic Refing.. 108 Atlas Powdr (4). 57 Atlas Tack...... 12 Austin-Nichols.. 18 Austin Nic p£(7) 72% 72% % % Auto Knitter... Baldwin L (7).. 122 128% 1 Balto & Ohlo(5). 95% 95% Balto & Oh pf(4) 71% T71% Bang & Ar (3).. 40% Rarnsdall A (2). 25% Bayuk Clgar.... 44 Beech-Nut (13). 57 Belding Bros(3). 31% 45% Bethlehem Steel. Bloomingdale Bloomingdle pf 108% 106% 106% 106% Briggs Mfg (3).. 80 30 20% 294 Bkin Edison (8). 142% 142% 141% 141% Bkin-Mn Tr (4). 63% 64 621 62 45 109% 107% 108% BT BT BY 17% 119% 93% 94 1% Direct to The Star Office High, Low. Close. % 317% 117 1170 80% 30% 30% 63% 64k, 86% 664 86% 50% 50% 16% 83 Goodrich Ru (4) 48% Goodrich pf (7). 97w 974 Goodyear pf (7). 105% 106 Gotham S Hnew 48% 48% Granby Consol.. 23 234 GriNorth pf () 72% 724 | Gt Nox Ore (1%) 20% 20% Grt Wstn Su (8) 95% 95% Gt West § pf (7) 118% 118% Green Canan.... 19% 21% Gulf Mo & Nor. . Gulf States 8 (5) Hartman. Helm Geo (16%) Hoe & CoA... Househd (13% ). Howe Sound (3). HudsonMan (2% Hudson Mo(3%) Hupp Mot T1)... Illinots Cen (7). Indep O11 (1).... Indian Refgotfs. Inland St (2%).. Inspiration (2).. Interurb Rap Tr. Intcontl Rub(1). Internat Agri... Int Bus Ma (3).. Int Cement (4).. Int Cement Int Cement pf(7) 1om IOSK Int Com Eng (2) b64% b4t Int Harvstr(8).. 126% 126% IntMtch pf(3.20) 66 65 Int Mer Mar pf.. 82 82 Int Nickel (2)... 38% 38% Int Paper (2). 61% b1 Int Paper pf (7). 94% 94% Int Tel & Tel (8) 1234 123% Int T&Teleg rts. 7% el Intertype (t11%) 224 Jewel T8a...... 37% Jordon Mot (i) . 22% Kan City South. 43% Kan CSopf (4). 67% Kayser J (3) Kelly-Spring. ... Kennecott (4). Keystone T & R. Kinney G R (4). Kinney pf (8)... Kresge S8(1,20). 63% Laclede Gas (8). 1654 lGoK Lago O1l & Tran. 224 Lambert (3%).. Lee Tire & Rub. Lehigh Val(3%) Leh&iMnk stf (3) Life Sav (1.60).. Liggett & M (t4) Lig & M B (14).. Lima Loco (4).. Loew's Inc (2) ft Gen Mot pf (7).. Gen Outdr AO(I) Gen Outdr A (4). Gen Petrm (3).. Gen Ry Sig t4% . Gimbel Bros. .., 122 2% 37% 23 43% 165% 21% 58% 8 87% 87% Lortllard(8)... Lortllard pt (7). 113w Lou&Nash (16 Ludlum Steel (2) 88% McCrory B 15.60. 80% McCrory pf (7). 108 ‘Mack Trucks (6) 123% Mack T 1st (7).. 113 Macy HR & Co.. 102 Magma Cop (3). 40% Mallison & Co... 17% Manat! Sugar pf. 60 Man El Sup(5%) 83 Bk-Man T pf{6). 84ls 8415 .84 84 Bkin Un G(t11). 88 884 8Tk 87% Brown Shoe (2). 81% 31% 31% Brunswick Balk. 30% 30% 29% Brunswick Ter.. 12% 12% 12% Burns Bro (10).. 138% 139% 138 Burns Br B (2). 36 36% 36 36% Burroughs (t4). 103% 104 103% 103% Butte&Super(2). il% 11% 10% 10% Butterick....?.. 31% 31% 81% 314 By-Products (2) 58 58 57 87 Calif Packing(8) 137 138% 135% 1354 Calif Petrol(2).. 32% 32% 3824 824 Callahan Zinc 1% 1% 1% 1% Calumet& Ar(6). 68 68 66 66% Calume&H(1%), 154 15% 15% 15 Can Pacific (10). 162 162 161 161 Case Threshing. 132% 133 180 130 Case Thr pf (7). 112% 112% 1124 112% Cent Leather.... 8% 8% 8 Cent Leather pf. 54 54 52% 52% Century RIbM.. 17% 18% 17% 17% Cerre De P (4).. 674 67% 66% 66l Certain-Teed(4) 47% 48% '47% 48% Chand.Cle pf(4). 28% 28% 28 ' 28 Ches & Oh (112). ltl 141 138% 139 Chi & Alton. .... 5% 5% 5% Chi & East I11 pf Il% 41% 41 T4l Chi Great West. 9% 9% 9% 9% Chi Gr West pf.. 23% 23% 22% 22% Chi Mil & StP 10% 10% 10% 10% ChiMil&StPpf 17% 17% 17% 17h% CMIl&StPpfefs 17% 17% 1% 17! Chi & Nwu (4).. 69% 69% 69 69% ChiPneuT (6).. 114 114% 114 114 ChiRI& Pac... 66% 55% 63% b4 CRI&Ppf(8). 8 _89% 89 89% Childs ($2.40) 62% 52% B2 62 ChileCop (2%). ®4% 34% 33% 383% Chino Copper... 22% 22% 22% 22% Christie B (1.20) 45% 45% 44% 44% Chrysler Corp(3) 37% 37% 36 36% Chrysler pfA(8). 104% 104% 104% 104% Coca-Cola (7)... 1568% 168% 157% 158% Collins & Atkmn. 468 46 45% 4b% Col Fuel & Iron.. 46% 47% 4i% 45% Colo Southern 61% 61% 61} 61% Colo Sou 1st (4)." 68 68. 68 68 Col Gas & E1 (5). 83% 84 82y 824 ColG&Epf (7) 116 1156 115 115 Col Carbon (4).. 60% 60% 60% 60% Com Cred (2)... 28 28 28 28 Com In Tr pf 6% 91% 91% 91% 914 Com Solv B..... 164 164% 160 161% Congoleum-N... 23 23 21% 22 Congress Cgr(3) 42% 42% 42 42 Consol Cigar. 67% 68 66 66% Con Cigars pf(’ ) 103% 104 Consol Distribut 3% S Consol Gas (5).. 102!\ IUGW 102 102% Consol Textlle. . 1% 1% Cont Can (16) 80 80 129% 129% Cont Insur (6).. 10% 10% 10% 10% Cont Mot (80¢).. Corn Prod(12%) 44% 45 43% 44% 74 74 18 4 Crucible Stl (5). 100 100 100 100 Crucible pf (7).. Cuba Cane Supf. 37% 37% 36% 36 Cuba Co (4)..... b1 61% 650% 51% 24% 24% 24% 244 Cuban-Am 8 (2). Cuyamel Fr (4). 45% 46% 46% 456% 36 36 35 Davison Chem. 34% 162% 162% 161 161 Del & Hud (9).. Del L& Wn (17) 145 145% 141% 141% DRGWstpf... 42 42 42 42 Detroit B (8).. 134% 134% 184% 1343 Devoe&Ra(2.40). 39% 39% 87% 37% DodgeBros CIA 34 384w 32 33 Dodge pf (7)..,. 89% 89% 88% 89 Dome Mines (2). 10% 10% 10% 10% Douglas Pec (1). 25 27% 25 27% Dupont (119)... 259 259 254 256 105% 105% 106% 106% Dupont deb (6) . Eastman (18)... 1134 113% 113% 118% Eaton Axle (2).. 29% 29% 28% 28% Electric Boat... 6% 6% 6% 6% Elec Power & Lt 19% 19% 19% 19% EP&LDE 40% (7) 105% 105% 105% 105% B P&L full pd(7) 107 107 Elec PAL pI(T) 9% 97 Elec Refrig(£2). Elec Sto Bat(16) lg“ Eg" 3;‘6 B!‘l‘/, 8% 8% 8% 8% Elk Horn. 66 66% 656% 66% Emrsn-Br pf ofs End-John (5). 116 118 115 116 35 34 63% Equitable pf (1) 43% 40% 40% 63 63 15 Exchange (1%).. 15 15 airbanks (3). 52 52 :lmous Pl (J2). 117% llln IIS% 116% FamousPirts.. 4% B% 4k 44 Fed Min pf (7. 2% 2% T2% 2% Fisk Rubber.... 18% 18% 17% Fisk 1st pfcv(7) 96% 96% 96 Flelschmn(12%) 49 49w 484 Foundation (8). 100 100 96% FoxFilmA (4).. 78 18 7% Freeport-Texas. 32 32k 30% Gabriel A(t4%). 32% 32% 32% Gen Am Tnk (3). 46% 46% 45% Man El gtd(D5). 53% Man Shirt (1%). Manila Elec (2). Maracafbo Ofl. .. Market St 2d pf. Market, St prior. Marland Oil (4). Martin-Pary(2). 21% ay Dept 8t 5). 117 Miami Cop (1).. Middle States. Midland pf(110). 112% 112% Miller Rctfs(2). 36% 36% Minn & St Louis. 1% MStP&SSM 11(4) 65 Mis Kan & Tex.. 36% MoK & T pf (6). 91% Missour! Pacific. Missour! Pac pf. Montana Pow(5) Montgom Ward. Moon Mot (8) Mothr Lode(75¢ Mo Picture(1%) Motor Met(3.60). Motor Whi (2).. Mullins Body.. . Munsingwr (3) Murray Body... Nash Mot (13)... Nat Biscuit f4% Nat Cash Reg(3) Nat Dairy (8)... Nat Enamel & S. Nat Lead (8).... Nat Po& Lt(40e) Nat Ry Mex 2d. Nat Supply (4 Nevada Cop (1). NY Alr 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 NH & Hart. NY On & West.. Norfolk South Norfk & Wn (18) North A (B3.40). North Am pf(3). North Pac (6)... Nunnally (1.50). 0il Well Sup 2) Omnibus. . Otis Steel. Owens Bot (t4). Pac Oil Stubs. .. Packard (12.90). Paige Mot(1.80). Pan-Am (8).... Pan-Am B (6)... Pan.AmWnB(2). Panhandle. Panhandle pf... Park & Tilford. Park Utah (80c! Pathe Ex (c8)... Penick & Ford. . Pennsy RR (3). Penn-Seab Steel. Pere Marq (18) . Pere Marh pf (5) Pere M prior(5). Phila& RC&I. Philip Morris. .. Phillips Pet (3). Phoenix Hosiery Plerce-Arrow... 28% Plerce-Ar pf (8) 111 Plerce Petrolm.. - 8% Pitts & W Va(§) 107 Postum (6)..... 101 Pub Ser NJ (6). 90% Pub SE&G pf(6) 108 Pullman Co (8).. l'l!\( Punta Aleg Sug. Pure Ofl (1).... Radio Corpof A. Radio C pf (3%) Ray Cons Cop (L Reading (4).... Réading res Reading 1st (2). Reld Ice Cm (3). Y Remtngton Type 118% Replogle Steel.. 9% Rep Ir & Stl (4). Rep I'&S pf (7). Rey Tobae B(5). Robt Rels & Co.. Rossfs Ins (6). . Royal D(a1.339) Rutland pf...... 167% 2% 2% St L Southwest. St L Swn pf (5). Gen Asph! . 61% 6’!% 66% Gen Cigars (4).. 60 48% 49% Gen Elec (H3).. 354 865% 844 B47% Gen Elec (112).. 88% 88% 86 86% Gen Elec sp(60c) 11 11% 11 11% GenGE&EAE1% 387w 37% 387% 37% GenGaspfB (1) 944 9% 94% 94% Gen Motors (116) 168'5 170 164% 166% Savage Arms (4) Schuite (§8). 4 Seaboard Air Seabd Air L pf.. Sears-Rn (23). Seneca Copper) . Shattuck F G(2) Shell Un (1,40)., 6% 68% 2% THURSDAY, JULY 22, 1926. IFRENCH BOND LIST | Coxrew vons“BONDS o ] . STAGES RECOVERY News From Paris Checks Selling and Starts Rise. Market Is Dull. BY GEORGE T. HUGHES. NEW YORK, July 22.—Recovery in French bonds was the feature of today’s trading, just as the break was the principal episode of the day before. News from Paris\overnight ohecked the selling which had reached S0 large a volume in the last quarter of an hour on Wednesday. French 7s which had c.losed at thefr extreme low of 86% opened at 89%. French 7%s had an initial gain of a point at 94, and French 8s, which had sold down to par, crossed 101. Gains in these direct obligations of the central government were larger thafi in the provincial, municipal or industrial issues. In fact one of the latter, Est Rallroad of France went to a new low for the year before encountering support. Belgium Bonds' Higher. Some Belgium bonds were mod- erately higher, but the improvement was not as pronounced as in jthe French list and others continued to sag, the 7s at 92 equalling the low of the year. There was heavy selling also of Italian 7s below 89 within a fraction of thefs record low. Ger- man descriptions were inclined to sell off, but dealings were on a small scale. There was no change in the situa tion as it affected domestic invest- ment issues. Prices did not fall away except fractionally, and that only in a few instances, but there was no lack of offerings at current levels. Central Pacific 5s changed hands in large biocks at par, which was the low of the movement. American Telephone and Telegraph sinking fund 58 held around 100.and the ground lost on the day before in the United States Government list was only pertially regained. Dealers were in- clined to look for larger demand on the money supply for commercial paper. Rails Are Irregular. Speculative ralls were irregular. New Haven convertible 6s advanced and so did Missouri Pacific 6s, but St. Louis-San Francisco incomes were heavy just above 93. Six dollars comes off tho price on October 1, when the annual interest disbursement is made. Copper and steel bonds were steady, but the ofls still dragged. So did Hudson and Manhattan income 5s, which at 81 were off nearly 2 points from the high of a month ago. There was a selling movement in Chicago Raflway 55 which carried the price down to 72. The most important new _fssue was the $25,000,000 Gatineau Power first 5s, due 1956, offered at 94, to yield over 5.40 per cent, by a syndicate headed by the Bankers' Trust Co. and Harrls, Forbes & Co. The bonds were quickly oversubscribed and the books closed. Other new issues in- cluded $2,500,000 Eppley Hotels Co. first 61s at par by Howe, Snow & Bertles and $3,1 Public Service first and refunding_5s, due 1956, at 94%. to yield over 5.37 per cent, by A. C. Tliyn & Co. Shell Un pt (6). 108% Shubert Theatre 644 Simmons(12.26). 35% Simms Pet (1).. 16% Sinclair Oil. . 20 Sinclafr pf (8). Skelly Of1 (2) Sloss Sheff (6).. South Port 8 (6) South Por pf(8). Sou Cal Edison. . Sou Dairies A(4) Sou Dairfes 3... South Pac (8). Southern Ry (7). South Ry pf (5), Spicer Mfg...... Std Gas&El (g4) Std G & Bl pf(4) Std Mill (6)..... Sta 011 Cal (2). Std Ol N J (1) Std Ol NJ pf(7. Std Plate Glass. Stewart War (6) Studebaker (5). Submarine Boat. Superior Ofl.... Sweets of Amer. Symington. ... Symington AGZ) Tenn Copper (1) Texas Co (3).... Tex Gulf 8 (10). Tex & Pacific. .. Tex& PacC& O The Fair (2.40)., Third Avenue ‘Thompson (8.60) Tide W Oll pf(5) Timken (14).... ‘Tobac Prod (7). Tob Prod A (7). Transcont Ofl... Un Bag & Paper, n Carbide (5) n Ofl (2)...... Un Pacific (10). Utd Alloy (2)... Utd Cigar S(e2). Utd Drug (8)... United Fruit (4) U 8 CIP&F(10) U S Distributing US Hoffman t33§ U S Ind Aleohol. U 8 Realty (4). U 8 Rubber. . U SSmelt (3%). U 8 Steel (7).... U 8 Steel pf (7). Unlversal Pipe.. Utl P& Lt A (e2) | anadium (3)... Va-Caro Ch(n).. Va-CarCh 6% pf Va-Car Ch pf(7) Vick Chemieal. . Vicksbg S&P (5 Vivaudou Viva pt new (7). Wabash. . ... Wabash pf A(6). Waldorf (1%).. Walworth (1) Ward Buking 5. ner Bros. Webor (- W Penn EL A ( ‘West Elec pt (7) 108% 108'% 63% 24 59% ST 40% 138% 128% 20% 29% 5% 15 47 45% 98 28% 7 484 6% 20% 34% 146% 128% 68% 16% 24 456 26% 67% ‘West Pacific. .. ‘West Unton (8) . - ‘West A Br(16%) ‘Westinghse (4). ‘Weston Elec. ‘Wheel & L Er] Wheel & L E pf. White Eagle (2) White Mot (4).. White Rock (2). Wickwire ctfs:. merv-rl-nd Willys 0d pf (7). Wilson & Co new Wilson A (new). ‘Wilson pf new. . ‘WoelwthFW (15) lb1 ‘Wright Aero (1) - 37% Wrig Wm (14).. 58 Yale&Town ({5, 68 Yel T&C(75¢) . 23% Yellow T&CTts. 2 1% Youngstown (4) 81 81% 9% n:‘}"%:nd rm-o:x:tven in tl.he -buvu mfle e yenry u cli rulv:r o 3 'afs ot Am i 'P“B,flc f, Sy gt Dava. x5 i olus 3% in Iock -Pnd gg‘;ffgg‘f“flflm Gl 28% 9% 10 18% 58% 164% 68 28% in al stock. lus 2% in UNITED STATES. (Sales are in $1.000.) . 187 1012 100 81 101 Lib 1st 4 9 1026 1022 1026 Lib 2a 4%s. 192 100 24 100 23 100 24 Tdb3d 4i4s. 196 1015 1011 1013 = Lib 4th 4% s 139 102 !6 102 11 102 13 UBS¥s.... 110119 10119 lol 19 UB4s1944. 1104 104 UB4Kes2. 710731 10730 lMllI . FOREIGN, Sales. High, Low. Close. Argentine8sJub9. 7 99% 98% 98% Argentine 6s Odt 62 44 99 99 Lib 3% Bank of Japan Belglum 6s. . Belgium @%s. Belgium 8 Bolivia 8s. Bordeaux 8 Brazil 7 Brazi] 8 Canada 58 1931, Canaéa 55 1952 Canada 5%s 1929.. Chile 75 1943. .. Chile 85 1941 Chile Chine: Con Pow Japan 7s. Copenhagen 5%s. . Cuba 5% Czecho 7%s rots Czecho 88 1951. . Czecho 85 1952 ct.. Denmark 6s....... DFET6%s Mch53. D E In 5%s Nov 53 Dritch Fast T 68 47. 2 Dutch East I 65 62. Finland = £ 68 45 Finlana 7 F-american T%s French 7a. French T%s. French 8s. German EI P 6% German 7s. Gar Agr Bank7s Ger Gen Elec 7s. Greek 7s. .. Hungary 7% Ttaly 7s. . Japanese 4. Japanese 61%4s. Jergens UM 6s . TLyon 8s Marseille Mexico 45 04 asntd. Mexico 45 10 asntd. Mexico 5s assented Netherlands 6s 54. . Netherlands 65772, Nord 6%s Norway 5%s Norway 6s 19 Norway 65 1944. Norway 6s 1952 Orfent Dev deb 6s.. 2. Paris.Ly-Med 8s Paris-Ly Med 7. Paris Orleans 7s 56 39 Prague T%s. Rio de' Jan 8s 1900. Rio de Jan 8s 47. Rio Gr Do Sul 8s Sao Panlo 8= 1936. . 000 North Carolina | Sao Paulo 1950 Saxon (PW) 7s Seine 7s 42. . Serbs Crot Slo 8s. . Solssons 6s. Sweden 514s ot Swiss 514 s 1946. Swiss Confed 8: Toho Elec Power 8 Utd Kingm 5%s 2. Utd Kingm 5%s37. 12 Uruguay 8s... « 30 1084 MISCELLANEOUS. Am Agri Chem 73%s 26 1044 104% Am Repubdeb 6s.. 1 100% 100% Am Smit& R 1st 5s 13 1014 101 Am Smit & R 6s 108 108'% Am Sugar ref 6s 103% 103% Am T & T cl tr 4 984 98 Am T & 1 cl tr 5 102% 102% AmT&Ts 6 100% 99% AmT& T deb5%s 105 Am Water Wks 5 98 Am Writing Pap 55% Anaconda 1st 6 103% Anaconda cv db7s. 94 Andes Cop 7s rets. .140 Armour&Co 4%s l'f fl Armour Del 5%s. Atlantic Refin s Barnsdall 6s ctrs. . Bell Tel Pa §s B. Rell Tel Pa 53 C. Beth Steel pm 5s.... Beth Steel 5% 8 53. Beth Steel s . Bkiyn Union 5%s. . Bush T Bldg 5s 6 Cen Leath 6s 45 cfs 3 Chile Copyer 6s 32. Col Gas & R16s. ... Col Gas & El 53 sta. Commonwlth P 6s. Con Coal Md 1st §s Con Gas N Y 6% Consumers Pow 5 Cuba Cane cv Denver Gas b: Det Edison s 40 Dodge w 1 8s. Duq L& P 5%s 49. Duquesne Light Est Cuba Sug 7% EmpireG&F T%s Fisk Rubber Goodrich 6%: Good year 8s 1931.. 11 Tllinois Steel 4%s.. Int Mer Marine 6s. Int Paper bs 47 Int Paper 8s. Int T & T 6%8. Kan CP&L 63 A 52. Kan G & Bl 6s:52 Kelly-Spring 8s. Lacl G ref 58 34. Laclede G 6% 5! Liggett & Myers Liggett & Myer: Lorillard (P) & LouisvG & E 58 53 42 Manati Sugar sf 7% 1 Mid-Con l%llo. . 81 Midvale Steel 5 2 North Am Ed North Am Ed 635, Nor States Pow §8. 1! Nor States Pow 6 Pac Gas & El 5s. PacT& T 6852 Pan-Amer Pete 8 Phila Co 6%s 38. PhilaCorf6sA. Phila&RAC&I Public Service 6s Pub Serv Elec P Serv Gas 5. &Cost Sinclair-Ofl Sinelair Of Sinclair Of! Sin Crude Pipe Line b Skelly Oll 6% Southwest Bl ‘Tenn Elec Pow Toledo Edn 1st 7 U S Rub 1strf U S Rub 7%s. Utah Po Vertientes Sug ‘Warner Sug 7 Warner Sug 7s 41. t Elec 68. % 100% 100! W:!ln.houfl 7 l 103% I.Ni 106% Wilson & Co 98 8 ‘Winchester A 7%s. lfl 104% l.l“ 108% Youngstrn S & T 6s. 9 1044 104% 104% 104% 104% 100 100 108% 103% 107 107 104% 104% 110 110 103% 103% 6% % % 104% 104% 104% 108 10%% 107% 94 93% 94 106% 106 106% mm 106% m:u Wire Direst to The Star Office. RAILROAD. - Sales. High, Low. Close. Atchison gen 4 10 924 92% 92% Atlantic C L cl 4s. . Atlantic C L 1st 4s. At] & Dan 1st 48 SwDiv bs efl B & O Toledo Can Nat 4%s30. Canad Pac deb Car,Clinch & O Ches & Ocv %8 Ches & O gn ¢%s. Chi & Alton 3%s.. .. ChiB&Q1str Chi& ET gn 5 Chi Great We: CM& St ngs. CM &St P 4s 25 ofe CM&StPdeb 4s cfs. CM&StPgn8y 84 52% T52% 924 524 5% 5% 102 102 86% 86% 103 103 111% 111% CM&StP gn 4%s. CM&SIP r %8 of14 CMA&SP cv bs ofs 14 CM&StP6s. Chi & N W ret 5s. . - wenmulisuil-Buomanemmna Chi Un Sta ua- Chi Union Sta §s Chl & W Ind cn 4a. C&WI6s62. CCC&StLreesA. C&S1istds? Colo & Sou 4% 2t Del & Hud 1strr4s 5 Del & Hud cv 5r 35. 72 Del & Hud 5%s. . Den & Rio G en ll Friegends..... FErieconvis A. Erle conv 4s B. Erfe conv4s D. FlaRC5s74 Gr Trunk st dl Grand Trunk Great North 5s . Great North 5%s. . Gr North gen 7s. G Mob&N 515 B 50 22 12 Int Rap Tran bs... Tnt Rap Tr 5s stpd. 130 Int Rap Tran 6s... 36 Int Rap Tran 7 Int & G Nor 1st 1 Tnt & G Nor ad 8y.. 51 Towa Cent 1st 5s. .. Kan City F't € 4 Kansas City S 3s Kan City S bs. Kan City Term 4 Lake Shore 4s 28 Lehigh Val en 4: Louls & Nash 7 Man Ry 1st 90. . Market St 7s 40. Ml El Ry & L 68 M St P& SSMen 4s MStP& SSM5Y%s MK&T istds MK & T adj s MK&TprinbsA. Mo Pacific gn‘l’ 4s.. Mont Trm ref 5» 41 Nassau E Ry 48 57. N O Tex& M in 5s. NOTex&M5sB.. NOT&MS5%s.... N Y Cengen 3%s. . N Y Centdeb ds... NYCrfim4%si3 NYCentriss N Y Cent deb 6s. NYChi&StL 5%sA. NYChI&StL 53! New Hav deb 4s 56, New Haven e d 6; N Y Ont W 1st 4 FINANCIAL. BIG RECEIPTS SEND WHEAT VALUES DOWN| Heat Wave Break, With Good Rains, in Nebraska, Iowa and Iilinois Also Factor. By the Assoclated Press. CHICAGO, July 22.—Huge receipts, including 977 carloads arriving at Kansas City, had a bearish early of- fegt on wheat values today. Besides, the heat wave had been broken, with g00d rains in Nebraska, Towa and Illi- nois. Opening % to 1% lower, the wheat market later showed a ma- terial further decline. Corn, oats and provisions were weak; corn starting % to 1% off, and subsequently re- ceding further. Indications that early estimates of domestic ylelds of Winter wheat are being exceeded gave emphasis today to news of big arrivals at primary points. Nebraska messages were at hand saying reports from threshers telling of 25 to 40 bushels an acre are common. Cutting of Spring wheat 1s reported as general in the southern parts of the American Northwest, with the Winter wheat harvest on in Montana. An estimate of 350,000,000 to 375, 000,000 bushel yield for the three prai- rie provinces of Canada did a good deal to increase selling pressure at times today in the wheat market here. It was stated that recent rains had been a great relief, and that present cool temperatures in the Canadian Spring crop belt are ideal. WHEAT— 3 ) £ ¢l 14 i 1 nnia fotet £3 b September " 7 July September 33 atS & ® e o> binia o0t o Debeeiber B, C. &A. LINE LOSE SUPPORT OF PENNSY Committee Likely to Be Named to Take Care of Boat Company, oRad eHad Says. Special Dispatch to The Star. BALTIMORE, July 22—Following the refusal of the Penhsylvania Rail- road to purchase more coupons from the first mortgage bonds of the Bal- timore, Chesapeake and Atlantic Ral way, officials of the latter compan refuse to make any comment, and shipping men here are wondering what will be the result. The Pennsylvania Railroad has been purchasing these coupons since 1921, hoping the B., C. & A. would recu: perate from war conditions and, tion. In railroad circles the decision of the Pennsylvania Railroad directors no longer to aid the Baltimore, Chesa- peake and Atlantic is looked upon as other lines where competition of private and public motor cars is cutting into rail- | forecasting similar action in road revenues. The Baltimore, Ch!upeflke and At- lantic was organized in 1894. It oper- ates about 88 miles of track between Md., and The road is capitalized for $2,500,000 and has 00,000. Claiborne and Ocean City, Salisbury and Fuiton, Md. assets of more than The company also operates and con- trols the steamship lines serving the Eastern Shore of both Maryland and Virginia, as well as the Potomac River route of the Maryland, Delaware and Virginia Railway. Unless the boat company can pay coupons due in September, it is likely that a protective committee will be named. There are $1,250,000 bonds in- outstanding, bearing 5 per cent terest. Trunbull general N Y Rys 65 65. N Y State Ry 434s. NY W& Bos 4% Northern Pac 8s. Northern Pac és. Northern Pacr 1 6s Ore & Calif 1st §s. . Ore Short L rfs 4s. Ore Wash 1st rf 4s Pennsyl gen 4%s. . Pennsyl 55 64. Pennsyl 6%s Pennsyl gold PCC&StL6sB 76 PorRL&P 6347.. Reading gen 4%, Reading J C 4s StL&SFpl6sC.. St LS W con 4s 32, St P & KCShL 434 111y 111 17 nm h1iA “v 864 [ 6415 56 Union Pac 1st 4s... Union Pac 1st rf 4s 47 9% 99K 102% 102%. l°ll6 lOIK 99% 99! 8 102 Wabash 2d 5!..... 9 l(')lK 1‘:5“ :4.):3 Wabash 538 75, 44 108% 108 West mllnd 4s. 31 72% 12: lggz Western Pacifio 5. 6 98% 984 'I% ‘Wisconsin Cent 4s. | 83 83 101% FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) - Nominal &ol Vflu% 7100 $4.80 Stocknoimm, cro, NEW YOR, July 22 (M—lel exchanges _irregular. S B 4.86 5-16; 6! on banks, 4.82. l"nnes, dcn:l.nd, 2.23; cables, 2.24%. Italy, demand, 3.23; S 1gi rma; man um, 2.28; A 23.79; Holland, 40.16; Nol’wgye 1‘:¥ n, 26.76; Denmirk, 26.49: zerland, 19.35; Spain, 16.65; Greece, 1.17; Poland, 11.00; Clechoswvl.kh. :tn, Jugoslavia, 1.99; Austria, 14.12%; umania, .46; Argentina, zil, 156.50; Toklo, 47.12%; th’fll. 1!‘. mmn. lWl‘IIC. Selling checks Vi 40.37%; Bra- | 148, Chesapeake and Atlantic, said: Pennsylvania Railroad. It care of the company. I have nothing to say CHICAGO LIVE STOCK MARKET CHICAGO, July 22 (Unfted States Department of Agriculture).—Hogs— fairly active, generally 25 lower than yesterday's average; top, 13.75; bulk desirable 140 to 210 pound weight, 13.30a13.75; most good and choice 240 to 310 pound butchers, 12.30a13.00; early bulk pack- light- weights upward to 10.75 or above; slaughter _pigs, 12.00a 13.00; medium, 12.50a13.60; light, 13.00 13.00213.75; pack- ing sows, 10.00a11.00; slaughter pigs, Receipts, 27,000 head; ing sows, 10.00a10.50; few bulk better grades 13.50a13.75; heavy-weight hogs, al3.75; light light, 18.25a13.75. Cattle—Receipts, 14,000 head; year- lings and medium-weight fairly ac- tive, fully steady; heavies slow, weak some weighty steers as low as late last week; best yearlings, 10:55; medium- other active, to 15 lower; spots off more; weight, 10.40; heavies, 10.2 killing classes moderately steady to strong; vealers, 12.50a13.50. Sheep—Receipts, 14,00 head; year- lambs strong to around 25 hther. no Westerns sold; early sales natives light sort; some 14.25; top to small killers, 14.40; culls steady; 11.00a11.50 mostly; sheep steady; bulk feeder lambs largely 14.00, fat ewes, 5.00a6.50; it possible, avoid a financial reorganiza- Murdock, president and manager of the Baltimore, “I was informed of the action taken by the appears certain that a protective committee will be appointed in September to take Other than that, IDEALINGS IN BONDS HERE ARE HEAVIER !Washington Gas Light Is Ac- tive Again Today on Local Exchange. BY EDWARD C. 'ONE. Bond trading on the Washington Stock Exchange was by far the heaviest today that it has been for several months, when seven trans- actions took place in Potomae Electrie consolidated 5s at 101. The sales were in $10,000, $15,000, and $25,000 lots and totaled just $1000,000. Buy- ers and sellers in this issus ntade the session a busy affair for Mid- summer. ‘Washington Gas» Light stock was also active against today, scoring a fractional advance over yesterday's close. The stock opened at 69, went to 69%, to 69% and closed at 69% Sales totaled 57 shares. Potomac Electric preferred opened at 103 and closed at 108%. Georgetown Gas §s sold at pa Washington Raflway & Electric 4s came out on one sale at 82% and Cap- ital Traction 5s sold at 101 on a $500 turnover. With Metropolitan 59 Years. J. Gales Moore, auditor of the Na- tional Metropolitan Bank, has been with the institution just 59 years today. His desk was covered with flowers and he received scores of felicitations from bank officials and friends during the day. His nearly six decades of service has been remarkable. He be- gan at the bottom in the banking business and for many years has held very responsible positions. Mr. Moore is enjoying good health. The entire banking fraternity in the city hopes he will have many years more of service, health and happiness. New Issue Is Oversubscribed. Crane, Parris & Co. received word from New York today that the $25.- 000,000 Gatineau Power Co. first mortgage gold bonds, priced at 94 and accrued interest to yleld over 5.40 per cent, has been very largely over- subscribed. It is considered interest ing that such a large issue should be 80 quickly taken and indicates there is plenty of money in the country awaiting for new investment oppor- tunities. Land Bank Issue Announced. | ;A mew issue of $1.500,000 Lincoin Joint Stock Land Bank of Lincoln, Nebr., 414, per cent farm loan bonds, due July 1, 1966, is being offered to- day at 101% and interest, to yield 4.31 per cent to the optional date, July 1, 1936, and 4.50 per cent there- after, by the First National Corpora tion of Boston. the Equitable Trust Co., of New York, Old Colony Cor- poration, First Trust and Savings Bank of Chicago, Central Trust, Co. of Illinois. Chicago, and Brooke, Stokes & Co.. of Philadelphia. Half Year's Realty Financing Compilations by S. show 2 total of $419 estate bond issues under: United States during the first half of the present year, the distribution $83,082,000; March, S‘Sb 4. 00; April, $59,831, May, June, 3’44 600,000, The r.dmher of issues was 485. Railroad Farnings Grow. Surplus of the Western Maryland for the first half of 1926 was $1,115.- 140, equal to $6.28 a share on the cumulative first preferred stock. against §597.734, or $3.36 a share, in the first half of 1925. Southern Railway's gross operating revenues for the first six months are estimated to be about $5,000,000 ahead of the same period last vear, totaling $76,000,000 and establishing a new high record. et income for the half year is expected to approximate $13 700,000, against $14,586,000. Dillon, Read & Co., have prepared a special analysis of the Seaboard Air Line Railway which shows that the first and consolidated mortgage bonds are substantially equal to the refund- ing mortgage bonds and rank close to the first mortgage bonds in invest ment value. Personal Mention. Charles C. Glover, chairman of the board of directors of the Riggs Na tional Bank, is passing several weeks at hix Summer home at York Harber, Me. Mr. Glover has spent many Sum mers at York Harbor and is one of the best known visitors at the beauti ful shore resort. A. M. Nevius, vice president of the Riggs Bank, is also away on his an- nual vacation, as are several other officials of the same institution. Charles J. Beil, president of the American Security and Trust Co., left here yesterday afternoon for Maine, where he will spend the first part of his vacation. He will then go on to Quebec. He expects to spend much time in hunting and fishing and will return to Washington early in September. Corcoran Thom, vice president of the American Security and Trust Co., has returned to his desk at the bank after spending a month at his Sum- mer home in New Hampshire. Rolfe E. Bolling, vice president of the Merchants Bank and Trust Co.. is passing his vacation at his old home at Abington, Va. This is also his wife’s native city, so they are both seeing a host of old friends. E. J. Stellwagen, president of the Union Trust Co., is thoroughly enjoy- ing his thirty-first season at the Po- February, scarce; around steady; load feeder|jand Spring House, Poland Spring. yearlings, 10.75; late yesterday, ington, 13.25; steady with Tuesday. i 5 DIVIDENDS. riod. Rate. Am np ick Cor 28 Citles sErice’c o' .. Mo oris s ot St Y P DAIRY PRODUCTS. BALTIMORE, July 22 (Special).— Spring chickens, pound, 32a4 leghorns, 27a35; old hens, 28a32; le; horns, 24a28; old roosters, 20; ducks, 26a30; old, 18a23; pigeons, 30a40. ‘Eggs—Receipts, 738 cases; native and nearby, firsts, dozen, offered at 20a29%. Butter—Good to fancy creamery: pound, 40ad2; prints, 42a44; ladles, 32a33; rolls, IMO' store pu:ked. 27%a 28; prints, "28a30; process butter, lilru-, PENNSY'S TRAFFIC. YORK, July 22 (Special.— hn.ndl by Pean- NEW Total loaded cars vania 167, ‘Nl In “the 1925, bulk 60 to 65 pound Idaho feeding lambs, 18.7&14400; one deck 71-pound Wash- Stock of record, | July 26 July 28 Aug 15 Aug 15 syl Rallroad for week mded er !7 were 112 m. umlm: the preceding week an ing week of | ments. Net Me. On account of the heat in Wash- ington it is specially interesting to note that when Mr. Stellwagen ar- rived there he had a fire in the fire- place in his hotel suite several eye- nings. HEADS TEXTILE BODY. Former Senator Lippitt Elected President of Research Institute. NEW YORK, July 22 (®).—Former United States Senator Henry F. Lip- pitt of Pawtucket, R. I, was elected president of the Cotton-Textile Insti- tute when it was organized in the Ho- tel Biltmore yesterday. The object of the organization, ac- cording to its articles of association, is to bring about a co-operation among cotton textile manufacturers and grow- ers, to institute trade research and prepare a mobilization in national emergencies. Legislative and polit- ical questions will be excluded from its activities, the articles provided. OUTDOOR ADVERTISING. NEW_ YORK, July 22 (#).—Net profit of General Outdoor Advenlflng Co. for the second quarter was $1,065.- 466 after depreciation ,and Federal taxes, compared with 3676 005 in the corresponding period last year, and $501,886 for the first quarter this year. Surplus for the firs half of 1926 after dividends was '8!6 149 BUSINESS INCB.EASBS. NEW YORK. July 22 -(P).—Gross business of the Commercial Invest- ment Trust Corporation for the haif year rose to $111,049,752 from $69,800,- 404 in the same period of “26 lm business is financing on profits were 51)1‘.616. anrvuv of $585,616 or 42 per cent.