Evening Star Newspaper, July 23, 1926, Page 19

Fi A NCIAL SOR R CRCRRI R i i < A SR S SR OO o e o L ST D D s L TP e S LR PR B R L L RGO el LA o BUSINESS BRISK - ATFISH MARKET rade Rather Draggy in Oth- er Products, With Pur- chases Smaller. Municipal Fish Market was a busy iace this morning. Dealers said the ombination of Friday and hot weather ssisted in boosting trade. Business \lways is good on Friday, dealers tate. and fish is more in demand in hot weather than at other times, many bonsumers satisfying their appetites vith seafood rather than with meats. Dealers in eggs are communicating vith shippers of the hennery product vith a view to having more care aken in the matter of gathering egss. t is naturally to be expected that andling losses will be heavier in hot ather, dealers say, but the losses bould be largely reduced if farmers vould exercise more care in promptly athering the egg: Market conditions generally were iraggy this morning. Buvers were v to escape the heat, but pur- s were not large, it is stated, many of the buyers holding off until gmorrow morning for stock for thelr aturday trade Wholesale Pric 1-pound prints, 46a storepacked, 2, sh, selected, 30; hennery, | current receipts, 27. | alive—Turkeys, 38 . 33a40; white Leghorns, 20a30; 0a3l Poultry, wis, oun 0; old, oroilers, 38a4! 1d, 40a50. Live stock—Calves, choice, 12; me- dium, 9: thin, 6a7; hogs, heavy and medium, 13%; light, choice, 15; lambs, 13214 ¥ Meats—Beef, 17ai8: lamb, 30; veal, , 19; pork loins ! hams, 32a3 fresh hams, 32a3 shoulders, Fruit and Vegetable Review. Today's market report on fru vegetables (compiled by the Market News Service, Bureau of Agricultural Supplies de- | market dull s, standards, 4s, 2.00; jumbos, 43s, 2. ; North Carolina, standard 36s, Green Meats, 2. nd 15s, 1.00; California, Tur- | Imon Tints, standards, Imperial Valley, Sal- liberal; ri: 5, s, Mon Tints, 2 Lettuce—Supplies liberal slow, market dull; New York, dozen crates Blg Boston type, 50a75. Onions—Supplies moderate; demand light, market dull; Texas, standard crates vellow Bermudas, U. S. No. 1, 2.00; Virginia, East Shore, bushel hampers yellows, U. S. No. 1, 1.00a1.25. Peaches—Supplies liberal; demand light, market dull; Georgia, Hileys, medium to large sizes, 1.50a, .75; bushel baskets, medium to large size, 1.50a1.75; wasty 1.25; - sixes, Elpertas, large size, fair color, 2.00a 2 Potato Market Steady. Potatoes—Supplies moderate; de- mand light, market steady; North Carolina and Virginia, East Shore, cloth top stave and slat barrels, Cob- blers, U. 8. No. 1, 3.50; slightly wasty, 8.2 ‘Watermelons—Supplies heav: de- mand improving, market steady; car- Jot sales, Georgia and South Carolina, bulk, per car, Tom Watsons, 32-Ib. average, 3. Thurmond Grays, 32-b. average, Excels, 28-32-1b. aver- age, 2.00a2.50. Corn—Supplies light; homegrown !,uppliefl liberal; demand moderate for ood stock, market steady; North Carolina, crates, 1.50a2.00; poor qual- ity, 1.00. Cucumbers—Supplies lberai: de- mand slow, market dull; Virginia, East Shore, bushel hampers, fancy, best, 1.00; poorer, 50. Peas—Supplies moderate; demand light, market dull; New York, bushel baskets, Telephone, 2.00a2.25. Lima Beans—Supplies moderate; demand slow, market weak:; North and South Carolina, bushel hampers, 1.50a2.00; poorer. low as 1.00. Mary- land, East Shore, bushel hampers, mostly around 2.00. WILL BUILD TERMINAL. * NEW ORLEANS, July 23 (Special). ~—President Markham of the Illinois | Central has announced that the road is prepared to spend $7,000,000 on a.| new passenger station.here, provided the city authorities agree to the clos- ing of certain streets. this demand will be acceded to. EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. Differences in Foreign Bonds. Continuing the discussion of foreign bonds, another distinction is too often overlooked. There Is a great differ- yence between foreign government and foreign industrial or utility obliga- tions, Many times they are classed Yogether simply as foreign bonds. “The ‘nly feature the two classes have in common !s that they are outside the United States It ought to be perfectly plain that the tests to be applied to a govern- ment bond are of totally different character than those to be used in determining the investment worth of an industrial company operating in | the same country. That is evident enough at home. Liberty bonds are not in the same class as railroad or utility issues the operations of which are confined entirely to this country. So it may well be that the bond of a certain foreign government is a con- servative Investment but that of some industrial organization operating in that country is an extreme specula- ton. Now while there are exceptions, the rule is that the government bond is he better investment than the cor- rate obligation. There are certain factors which apply to both as far as the American investor is concerned, but ordinarily the preference belongs ‘to the government issue. Take the case of German bonds, for instance, using them here simply as an illustra- tlon, German provincial and municipal sixes, p It is probable |; BY WILLIAM F. HEFFERNA! NEW YORK, July 23.—Owing to the uncertain character of the outside news little or no initiative was taken on either side in the operations of the curb exchange today. Whatever attempt there had been a week or two weeks ago to work for higher prices in the oil group was not resumed. Some recovery occurred following the recent selling but this was due to technical market condi- tions. Vacuum Ofl at 192% rallied a point from the previous closing quo- tations and slightly higher prices were ‘r reached by Standard of New York and other prominent issues., One of the outstanding issues in a market that was almost devold of feautre was the heavy offering of United Gas and Improvement. At NEW YORK, July 23.—Following is a list of bonds and stocks traded in on the New York Curb Market today with the volume of sales and prices up to 1:15 o'clock: Sales in INDUSTRIALS. hundreds. High. # Alb Pick B vte, li{ l? Am; Il»lher“. 1d d B. 233832833 PEpRrrsRrrny 3 m Superpow Am Supern 1st b Asso Gas & El Auburn Auto atz. vie, artf Corp 202 S == S S [ SO = ol % 3 ISR SRR SRR aF S ao sk R sty 90 SoEESIRRLSRRNEINEESI2RIRER Susize o E2Ea0 13 30 e NN S IBDD I T - @ FFE El 1 Engi Pub Serv.. i3 Engi Pub Ser. pfd a5 Ty RS (s D 5B isn o ™ oz esZou az Atlas Gl 1 Hollander & § 4 Horn & Hard Dm0 % D Bt 8 R B e G5 RS RRRERE R R s - oS3 pesjetet & e & Moore 2 Municipal 1Nat Baki e S F= D S S 1820 D L CHeE- RNty s 5 Safe C % Singer” Mte . 1 Singer Mfs Lid m_ousor_cieis SisS il B AN A B = SR B B IS DB OISO DS} s WRPPPE FEE WNE R 2 03 fos White 48 1Yel Toxi N Y.. 15 Sales in MINING STOCKS. 75 i 2 So Am 0 Spearhead Gold. 3 Uai Verde Ext.. 20 4Am Cont Oilfds . 2 Am Maracaibo C o e 3nas OB ortis 1SR 1SR D10 R D B IR S FREPIRIRRE B PRRASEES F BT Wmm’:’;w ® o ¥ o9 13 b 21 S D1 A B BB BEE FRFER FSRREPTENERRE S8 SRR 9 1 2 Cit Serv. 22 Columbia Synd 1 Cons Royalties. 180 Cre b £ oni TR 519N DD » -, asuse B ST S A BT aagise aizige ST S ao B mam s BB Sasioey S2884388 30 PEE ST J§ Yoneauaian Fat. 26 Warner Quinlan 33 Wilcox 0°& G 1 i Woodley Pet 100 Y™ Ol . % : Salesin STANDARD OIL ISSUES. units. 100 AUl Lobog .. 100 Buckeve 100 Chesebr'gh Mig. 1800 Continent_Oil n. R PR ) is_eno is o 50 Ind - 1700 Inter Pet' G Lid. 32 000 Brafric” 0ée w814 820 Pralrie B4F. "% 13 NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office 11z the price compared with the hlnl":Q of yaarzetday of 116. With the declaration of a 25 per cent extra stock dividend made public, it was evident that the selling represented nothing more than profit taking fol- lowing the good new: Despite the optimistic predictions concerning the outlook for pipe manu- facturing companies; efforts to bring about higher levels for Centrifugal Pife met with lttle or no success. Electric Bond and Share securities after being held in check at the outset rallied for a gain of a half point or so while other public utili- ties worked fractionally higher. General Baking class “A” stood.out strongly in its group but failed to have a steadying effect upon others of the baking shares. 51Ind Limes 68 Int R Cen Am ds 06 B Nov bs B 955k 29 08 0o 09 8"“ 102Y 07 :z e - D2 D! > E3333323833233332822 FEPFESFRITTE, 235252 BONDS. Sales in FOREIGN thousands. 18 Antioqua 7s B. 1 Baden 78 . 2 218 Brazil 6146 . 116 Brazil 6348 nw V3 Bur & Wain Ltd 2 Caldas 7348 ... 3 Denmark 7 Free S B 6158 wi 93 Con Mun 7s. 5 081} a8 88% . STEEL SHEET ADVANCE. NEW YORK, July 23 (#).—Youngs- town dispatches to Wall Street say makers of full finished automobile sheets are discussing an advance of 2 a ton to the base of $4.30 a hun- dred pounds for No. 22 gauge auto body stock, effective August 1, and another’$2 advance to $4.40 a_hundred pounds on September 1. Stocks of automobile builders are said to be Tow. o CALL MONEY STEADY. NEW YORK, July 23 (P)—Call money steady; all loans 4; closing bid 4; time loans firm; mixed collateral, 60-90 days, 4%a4%: 4-6 months, 43; prime mercantile paper, 4 METAL MARKETS. W YORK, July 23 (#)—Copper firm; electrolytic, spot and futures, 141,. Tin irregular, spot and nearby futures, 63.25. prices unchanged. Lead firm. 8.65. Zinc steady. East St. spot and futures, 7.45. Antimony, spot, 16.00. WILL DISTRIBUTE ASSETS. WILMINGTON, Del,, July 23 (#).— Chancellor Josiah O. Wolcott has signed an order directing distribu- tion of the assets of the Czechoslo- vakia Trading Co., after preferred stockholders have been given op- portunity to file exceptions to a re- ceiver’'s report. The company operat- ed in Philadelphia. PRICES ON PARIS BOURSE. PARIS, July-23 (#).—Prices moved irregularly on the Bourse today. Three per cent rentes, 49 francs 25 centimes; exchange on Londen, 208 francs § centimes; 5 per cent loan, 50 francs 90 centimes; the dollar was | b quoted at 42 francs 87 centimes. — FOREIGN EXCHANGE. Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checl wolgvate: . odur o ndon. pound. . . .. .$4.8665 ontreal. dollar. ... 1.00, aris. franc. russels, lr;nc. ague, cro ‘arsaw, zlot; Gopenhagen. cfotwn Osio, crown... Stockholm, - ¢ro NEW YORK, July 23 (#).—Foreign exchanges firm. ~ Quotations (in cents): Great Britain, demand, 485%; cables, 486%; 60-day bills on banks, 482. France, demand, 2.35; cables 2.36. Italy, demand, 3.25; cables 3.26. Demand: Belgium, 2.39; Germany, 23.80; Holland, 40.16; Norway. 21.93; Sweden, 26.76; Denmark, 26.49; Swit- | Riggs zerland, 19.35%; Spain 15.51; Greece, 1.14; Poland 11.25; Czechoslovakia, 2.96; Jugoslavia, 1.77; Austria, 14.121%; Rumantia, .45%; Argentina 40.50; Bra- zll, 15.43%; Tokio, 47.20: Shanghai, 71.37%; Montreal, 100.158%. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY FORT WORTH, July 23.—Crude ofl production in the west Texas fields rose 9,906 barrels in the last weck to a daily average of 238,190 barrels. 00 S0, Benn. Ol hew 37 nn Ol hew 0 Tnctana - 64 % S 7 Srsras . 8853333 oSt Sazus ‘4 obligations are affected by the same exchange difficulties as is the German industrial but the industrial carries the additional hazard inherent in all business operations conducted for profit. A German steel company, and this, too, is simply to make the point clear, might meet financial difficulties lowering the ratinng of its obligation, without in any way affecting the standing of the bond of the German municipal division in which the steel company operates. v That is just as true of countries and of companies in South America as it Is in Rurope with this exception. that when the industrial organization is American owned and American man- waged it can sometimes be appraised without regard to the financial stand- (o) 22522232833 ing of the foreign country in which it 1s located, FE A = 23 : TS ECR PRPE PEEIFERE SRR E o S5ee3se S §§§ PHILADELPHIA.—The market for common brick has not slumped from the levels to which it was raised early this month, although demand is not quite so pressing as it was during late June and early July. CUMBERLAND, Md.—A new glass’ factory will be built by the Queen City Glass Co. to replace the plant recently destroyed by fire. The West- | e:—‘n Maryland Railroad has donated a site. Markets at a Glance NEW YORK (#).—Stocks irregu- lar; local tractions rally on end of subway strike. Bonds steady; French issues continue recovery. Foreign exchanges. firm; French and Belgian francs higher. Cotton firm; excessive rains Southwest. Sugar steady; com- mission house buying. Coffee irreg- ular. CHICAGQ.—Wheat lower; increas- ing stocks Southwest. Corn barely steady; ‘rains in Dakotas. Cattle steady. Hogs highes, COTTON IS STEADY, SLIGHTLY HIGHER Firm Cables and Better Stock Market Are Factors in Trading Today. By the Associated Press. NEW YORK, July 23—Cotton fu- tures opened steady. October, 17.38; December, 17.2! January, 17.36; March, 17.60; May, 17.71. The market had a steady opening today at 1 to 6 points advance, with business rather quiet pending the Government report at noon. In addition to firm cables and a bet- ter stock market, early buying was stimulated by officlal reports of a tropical disturbance in the West In- dies and by further reports of show- ers in the Southwest. Offerings came mainly from the South, Wall Street and Liverpool, but were well absorbed, and the market held firm, with Octo- ber up to 17.45 and January 17.37, or 6 to 8 points net higher. Just before the market closed to receive the Government report, it was in a very firm position through actlve covering due to .the strength of cables, and Southern buying on the tropical storm and showery weather over the belt, October sell- ing up to 17.57 and January, 17.49, or 18 to 20 points over'the previous close. The report itself, making con- dition 70.7, and indicated crop 15,368, 000 bales, was considered a little bearish and on the reopening the market was off 13 to 21 points from the 11:55 close and 12 lower to 2 higher than last night's close. New Orleans Market. NEW ORLEANS, July 23 (#).—The Governiment estimate of condition average of the crop, 70.7 per cent of normal, and the indicated yieid, 15,368,- 000 bales, caused only a small decline on the New Orleans Cotton Exchange, as the condition figure was lower than expected and the indicated yield only a little above trade expectations. The market dropped 27 points on October and 20 points on December, but at once began to rally and was soon only 15 to 17 points below the prices ruling before the report came out. RN PNSULL.INTERESTS PLAN TO BUY BIG POWER FIRM New York Times Says Negotiation Under Way for Purchase of Na- tional Electric Power Co. By the Associated Press. NEW YORK, July 23.—Negotiations are under way for the purchase of the National Electric Power Co. by the Insull interests of Chicago, the New York Times says today. Officials of the National company have declined to The National , Electric Power Co. controls public utility properties with an asset value of $95,000,000, includ- ing the Pep Central Light and Power, Cumberland County Power and Light, Portland Railroad, Kansas Elec- tric Power, Eastern Kansas Power, Northwestern Public Service, South- west Power, Ohio Electric Power and Michigan Electric Power companies. SALES. Pot. Elec. Power pfd. int. ctf.—1 at 106. Rikis National Bank:—10 at 460 Continental Truet Co—> at 8113, 10 at 1h,D ot 01%.5 at 91%.°5 at B, 10 at 91 Natl’ Mtge. & Tnv. ptd.—50 at 81;. AFTER CALL. Washington Gas Be—S1.000 at 101 (Georseiown Gas 5—$1.000 at 100, $4,000 a Wash. Rwy. & Elec. pfdi—10 at 88%. 10 at B8R s i Money—Call loans. 5 and 6 per cent. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid American Tel, & Telga. 4 8 Amer, Té Telga. 4 as. . ctl. tr. b Szos! 333323355 555532552 RERE ot F Wash. Rws. & Elec. 4a. Wash. Rwy. & Elec. ge MISCELLANEOU: s Dairy 34 Y G ok Lana B 83232533 Sno22 I 2 B e e 225323 352232 PUBLIC UTILITY. American Tel. Am. Tel. & Tel. on. g o 2233522.5 SRATBDD ® NATIONAL BANK. o HESTSSENEEER 3335035033 1 omaian = ‘hants' Bank. Herhin, Bankcy Cnion Wash. ree & Bavins £a8t"Wasningion ecurity Savings & Com. Street. States. ington S=Eo 8 el Loan & rist. 37 it ouss i 338 i FIRE INSURANC s i Kiromon'e National Union TITLE INSURANCE. R MISCELLANEOUS. B. & Paper. pid. ol i ergonthaler Lino Natfitge. & Tuve B Unlisted Department. ° BONDS. érm.v lgfll‘:vv‘ gl:nb Bl‘ S S i s Bank Anlu‘utél P, 'ln Chabin-gacks 75 ¢hasin-Sacks 17 Bf nmfiy'fm?mk j Boom } t Title Ins. Co.. kit Nadonal Saak Mitler Train: Control Munsey "L . 1 Norih 'Capilol Savings Hanie.. Siich MKt UL of V wvings Bank - . Your Banker Rnows. When in doubt about a security consult your banker. It is equally as much hie interest as yours to protect your savings. 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