Evening Star Newspaper, July 24, 1926, Page 24

24 - - SELLING CONTINUES| [ ~ew IN STOCK MARKET Drive Against Auto Shares ! Sends Hudson and General Motors Down. BY STUAY'T P. WEST. Bpectal Dispatch to “he Star NEW YORK, July 24—Further selling occurred in the stock market today and for the same cause that has applied all week, namely, the failure of recent operations for the rise to make any Impression upon the outside public. Soon after the opening a sharp drive was made against the automo- bile stocks. Under this selling Hud- son Motor broke two points, General Motors over_a point, Mack Trucks thé same. United States Steel made a new low for the week as it dropped beneath 138. It was then off 6 points from its recent high. The de- cline in this stock {llustrated better than anything else the change in the general market conditions as com- pared with a week and two weeks ago. | Industrial stocks were under pre sure. Woolworth broke over 2 point iShares of mail order companies like Montgomery Ward were offered freely. Baldwin Locometive, which as late as last Wednesday sold at 124%, dropped well below 11S. The volume of business was considerably reduced. It was a typical half-day imarket of the Midsummer. Outside iof the leading steel, motor and spe- clalty shares the changes were too slight to be of any consequence. The market closed generally heavy with United States Steel around its fowest and with other industrial lead- ers the same. Southern Pacific was the feature among the rails. Tts strength revived reports that there /might be an increase in the dividend. Markets at a Glance NEW YORK (#).—Stocks irregular; motors rally slightly after bear at- ‘tack. Bonds steady; French issu rally on better feeling abroad. For- lelgn exchanges mixed; French francs rally to 2.4432 cents. Cotton higher; firm cotton goods market. Sugar and coffee holiday. CHICAGO.—Wheat: Higher; fears hot spell in the Northwest. Corn: ‘Firm; unfavorable crop talk. Cattl Dull. Hogs: Steady. NEW YORK, July 23 (#)—Earn- ings of the Southern Pa both for June and the half year, show substan- tial gains over the corresponding periods of June net operating income of §$5,153,500 was a gain of although gross revenues were 417 larger. Net operating in- come for the first six months of this year reached $19,345,942, an increase of $4,195,6T1. Gross 663, & gain of §1, Increases in production, shipments and new business in the week ended July 17 are shown in reports to the National Lumber Manufacture) As- sociation from 389 of the larger soft wood and 152 of the chief hardwood mills of the country, compared with the week before. nfilled orders of 231 Southern pine d West coast ‘mills were 684,309,025 feet, against 1866,508,138 feet the previous week. Soft wood mills had shipments of 102 per cent and orders of 102 per cent jof actual production. For the Southern | pine mills these were percentages 102 | and 100 respectively and for West |coast mills 106 and 111. i Midland Steel Products had profits n(} 1$696,592 for the second quarter, after Anterest and depreciation, but before Federal tax equal after preferred { ‘dividends to $2.81 a share on the com- mon, against $768,094, or $3.09 a share { ‘on the common in the y ding quar- ter and net profit of $§762,013 after Federal taxes, or $3.26 a share on thae | common in the second quarter last year. . June net operating income of the Norfolk-Southern increased to $212,- 476 from $82,185 in June last vear and Jor the half year to $946,149 from $609,178 for the first half of 1925. Net income of Union Carbide & Car- on Co. for the first half of 1926 ad- ~vanced to $10,031,981, equal after pre- ferred dividends of subsidiaries, to #$3.77 a share, compared with $7,552,- ®17 or $2.83 a share in the first half wof 1925, FOREIGN EXCHANGE. Quotations furnished by W. B. Hibbs & Co.) Nomirial Selling checks old value. A ¢ i ondon, fontreal, arls, {r: Oslo, crow, Stockholm, ¢« NEW YORK, July 24 (#).—Foreign Jexchanges irregulai scents): Great Britain, demand, 485 *11-16; cables, 486 3-16; 60-day bills on banks, 48113-16. France, demand, 441%; cables, 2.4615. Italy, deman 81y; cables, 8.29%. Demand: Bel gium, 2.44; Germany, 23.80; Holland, 40.15; Norway, 21.96; Sweden, 26.76; Denmark, 26.50; Switzerland, 19.35% Spain, 15.58; Greece, 1.11%; Poland, 1 Czechoslovakia, 2.96; Jugoslavia, 1.77; Austria, 14.12%; Rumania, .45%; Argentina, 40.37%; Brazil, 15.35; Tokio, 5; Shanghai, 71.25; Montreal, 100.15%. _——— FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Closing.) App! - iy 2293 e RESSESERE FEFEEERE T AEEF SIR2ES CHICAGO STOCK MARKET. CHICAGO, July 24—Following is a report of today's sales, high, low and closing quotations at the Chieago Stock Exchange: les. 200 All Amer Rad .. 135 Armour Leather . Quotations (in | Adv. Rumley.... Ahumada (y1).. Alr Reductn($5) Ajax Rubber.... All Am Cable(7) Allled Chem (4). Amerada (2). Am Agri Ch pf. Am Bank N. 1.60 Am Br Bo pf AmCan (2)..... Am Car&I'dy (68) Am Chicle /8).. Am Drug.... Am Express () Am & For Pow. . Am Hide & Lea. Am Hide & L pt. Am Ho P (2.40). Am Tce (110). Am Internatl Am La Fr (1) Am Locomot (8) Am Mach & Fy.. Am Po&ILLt /g1). Am Republie. ;.. Am Safety R (3) Am Ship & Com Am Sm & Ref (7) Am Snuff (12).. Am Stl Fdys (3). Am Sugar (5)... Am Sugar pf (T) Am Sumat A ofs Am Tel & Tel(?) A Tel& Teleg rts Am Tabacco (8). Am Typ Fdrs(8) Am Wa Wo c1.20 Am Woolen..... Am Wool nt (7). Am Writ Pa ctfs AmZnepf... , Anaconda (3). Armour of TII(A) Armonr of TI(B) Artloom (3).... Asso Dry G(2 Atchison (7).... Atchison pf (5). At1C Line(19%) Atl Gulf & WI. Atlantic Refing . Atlas Pow pf (6) Atlas Tack Austin-Nichols. Austin Nic pf(7) Raldwin L (7). Balto & Ohlo(5) . Bang & Ar (3).. Rarnsdall A (2). Belding Bros(3). Rethlehem Steel Beth Stl pf (7). Bloomingdale. .. Bkin Edison (8). Bkin-Mn Tr (4). Bkin Un G(111). Brown Shoe (2). Burns Bro (10).. Burns Br B (2). Burroughs (14). Butte&Super(2 Butterick. Calif Petrel(2).. Calume&H(1%). Can Pacific (10). Case Threshing. Century Rib M. Cerre De P (4).. Certain-Teed(4) Ches & Oh (112). Chi Gr West pf. Chi M1 & StP... Chi Mil & St P pf Chi & Nwa (4).. ChiRI& Pac... Christie B (1.20) Chrysler Corp(3) Coca-Cola (7)... Col Fuel & Iron Colo Southern. .. Col Gas & El (5) Col Carbon (4).. Com Cred (2)... Congoleum-N... Consol Cigar.... Consol Distribut Consol Gas (6).. Cont Can (16)... Cont Mot (80c).. Corn Prod(t2%) Coty Inc (4).... Crown Pa 1st(7) Cuba Cane Su pf. Cuba Co (4)..... Cuban-Am 8 (2). Cuyamel Fr (4). Davison Chem. . Del L & Wn (17) Detroit Ed (8). . Devoe&Ra(2.40) Dodge Bros Cl A Dodge pf (7).. Dome Mines (2). Douglas Pec (1). Dupont (119)... Eastman (18) Electric Boat... Elec P & L pf(7) EP&LpE 40% (7) Elec Refrig(f2). Elec Sto Bat(16) End-John (5)... ! Equitable pt (7) Erie R R. . Erfe 1st pf. Erie 2d pf. Eureka Vac (4) Famous Pl (J2). Fed Min pf (7).. { Fisk Rubber. ... Fleischmn(t2%) Foundation (8). Fox Film A (4).. Freeport-Texas. Gen Am Tnk (3). halt. ... Gen Clgars (4).. Gen Elec (H3).. Gen Elec (112).. Gen Elec sp(60¢) Gen Motors (116) Gen Mot pf (7). . Gen Outdr Ad(2) Gen Petrm (3).. Gen Ry Sig t4%. Goodyear pf (7). Goodyrpr pf(8). Granby Consol. . Gt Nox Ore (1%) Grt Wstn Su.(8) Green Canan.... Hartman....... Hoe & Co A . Howe Sound (3) HudsonMan(2%: Hudson Mo(3%) Hupp Mot (1)... Indep O11 (1)... Indian Refgctfs. Inland St (2%). Inspiration (2).. Interurb Rap Tr. (ntcontl Rub(1). ht Bus Ma (3).. Int Com Eng (2) Int Harvstr(6). . IntMtch p2(3.20) Int Mer Mar pf.. Int Nickel (2)... Int T&Teleg rts. .| Intertype (11%) Jones Bros Tea. Jordon Mot (3).. Kan City South. Kan C So pf (4). Kinney pf (8)... Kresge S8(1.20). Lambert (3%).. Lee Tire & Rub. I 31 10 il 107 5035 e T i sitee 55 2 U 'm O 0 Yates Machine. . 480 Yellow Cab tal sales. 18 | oot i WEER s SO Originality, ke beauty, is a fatal ift. » Leh&iink stf(3) Loew's Ine (2) Loft. . Long A Lortllard(8). Loutsiana O11. LouisGasA (1.75) Lou&Nash(18%) McTntyre P (1).. Mack Trucks (6) Mackay (7). . Magma Cop (3) . Man EI Sup(6%) Man El gtd(P5). Marland O11'4). Mathieson (4).. Maytsag Co (2).. Mexican Seal Miami Cop (1 FINANCIAL. YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office” Open. High. 15% 8% 119% 8% 148 126% 30 49% 346 87 11% 166% 118 30% 106 107% 22% 126% 66% 314 37% 6% 18% 11% 24 43% 129 ° ~25% 119% 134% 40 15% 8% 19% 8 Low. 139 8is 118% 8% 148 58% 120 20% % 36 28% 122 33% 12% 101% 1% 6% 55 61% 8% 128% 126 42% 66% i 101% 26% 141% 6% 119% 119% 68 4 117% 9% 40% 25 82 45% 103" 30% 141 63 8714 33% 142 38 103 10% 32 82% 16% 163 % | Nat Cash Reg(3) THE EVENING 'STAR, WASHINGTON, D. C., SATURDAY, JUL? 24, 1926. NDS o secaaver] | 28! 1% mt 87\ 88% 80 Mid-Continent. . Middle States 1 Midland pf($10). 111 Missouri Pacific. 37% Missouri Pac pf. -89 Montana Pow(5) 79% Montgom Ward. 69 Mothr Lode(75¢) 6 Mo Plcture(1%) Motor Met(3.60) Motor Whi (2) Murray Body ... Nash Mot (13). . 28% 28% 1% 111 3TW 89 80 69 68% 64 6% 9% 43k 28% B 63% 44 674 18 5% 22 63% 13% 38% 1% 45 129% 4% 151% B17% 95% % 8 Nat Dairy (8)... Nat Distillers. .. Nat Fy Mex 1st. Nat Po& Lt(40e) Nat Supply (4). Nevada Cop (1). NY Air Brake(2) N Y Afrbrake rts N Y Canners C2. NY Central (7).. NY NH & Hart. . Norfk & Wn (18) North A (B3.40). NthAm Ed pf(7) North Pac (5)... Norwalk (80c). 011 Well Sup (2) Otis Elevator (6] Otis Steel. ...... Twens Rot (14). Pacific Gas (8).. Packard (12.90). Palge Mot(1.80) Fan-Am (6).... Pan-Am B (6)... Pan.AmWnB(2) Fanhandle. Panhandle pf. .. Pennsy R R (3). Penn-Seab Steel. PhilaCo (4).... Phlla&RC&I. Phillips Pet (3). Pierce-Arrow. ... Plerce-Ar pf (8) Fiedce Oil pf.... Plerce Petrolm Postum (5) Producrs & R p Pub Ser N J (5). Pullman Co (8). Pure Ofl (1).... FMdio Corp of A. Ray Cons Cop (1 Resding (4).... Reid Ice Cm (3). Remington Type Rtep Ir & Stl (4). Reynolds Spngs. Rey Tobac B(5). Hobt Reis & Co. . Robt Refs 1st pf. Royal D(a1.339) Safety Cable (4) St Jaseph L(13). StL & SanFr (7) Schulte (§8).... Seaboard Alr L. Sears-Rn (2%). Shattuck F G(2) Shell Un (1.40).. Shell Un pf (6). Simmons(12.26). Stmms Pet (1. Sinclair O1l. . Skelly Of1 i2) Sloss Sheffl (6). Sou Cal Edizon Sou Dairles B 84 117% 109% 109% 13% 13% | South' P10 (8).~. :Southern Ry (7). South Ry pf (5), “Splcer Mfg...... Std Gas&El (g4) Std G & El pf(4) Sta Ofl Cal (3).. StdOIINJ (1).. Std O1l NJ pf(7). Stewart War (6) Stromberg (8) . Studebaker (5). Superior Ofl.... Sweets of Amer. ‘renn Copper (1) Texas Co (3).... Tex Gulf 8 (10). 1 Tex & Pacific. .. | Tex & PacC &0 | Timken (t4).... Tobac Prod (7). Transcont Ofl. .. Underwood (4).. Un Bag & Paper, Un Carbide (5) UnOil (2)... Un Pacific p£(4). Utd Alloy (2)... Utd Clgar S(c2). Utd Drug (8)... UtdDrg 1st(3%) U S CIP&F(10) U S Distributing U S Ind Alcohol U S Rubber U S Rub 1st (3). U S Steel (7)..., U S Steel pf (7). Universal Pipe. . Untv Pipe pf (7) Utl P& Lt A (e2) Vanadiam (3)... Wabash. . . Wabash pf A(5). Warner Bros. ... West Maryland. West Md 2d p! West Pac pt (6). West Union (8). West A Br(16%) Wheel & L Erie. % | White Eagle (2) TH 42% 884 16 24% 129 26% 119% 184% 39% 79 bi% 6% 77 13% 14% White Mot (4). White Rook (2). Willys-Overland Wiison & Conew 9% WoolwthE'W (16) 160% Wright Aero (1) 36% Yel T&C(76¢)... 23% Yel Tr&C pf(7). 100 Yellow T&C rts, 1% 1% Youngstown (4) 80% 804 ven ‘l'ffle’--qc:in;;f%cflw. extra or special Gl R artly "stock. TPartly extra. §Pavable in common' stock. jrlua 4% [ stack Blo D% auarterly: 1Plus 3% in sloc B o jecular rate. b Plus 1 ar rate, stock al 8t us 2- ecial stock. i Plus % in sizck. 1 stock: TPius £ SOUTHERN GAS INCOME. NEW YORK, July 24 (#).—Gross income of Southern Gas Co. for the year ended June 30 rose to $931,075, an increase of $318,083 over the pre- ceding 12 months. Net earnings, after bond interest and preferred dividends, were $349,054, a gain of $186,084. The company stated these earnings were greater than thef most liberal es- timates when $3,000,000 sinking fund 61 per cent gold bonds were issued last November. STRUCTURAL STEEL. NEW YORK, July 24 (®).—Book- ings of fabricated structural steel in June amounted to 197,683 tons, or 75 per cent of capacity, compared with bookings of 76 per cent of capacity in May and 86 per cent in June last year. MERGER IS RUMORED. | NEW YORK, July 24 (#).—A sharp advance in capital stock of the Na- tional Butchers and Drovers’ Bank is attributed to rumors of a merger with the Irving Bank-Columbia Trust Co. | Uncertainty as sto the terms raused erratic fluctuations, trading in Butch- ers & Drovers ranging from 200 to + 216, BIG PIG IRON ORDERS. NEW YORK, July 24 (®).—Activity in the pig iron industry in‘ north- | eastern Ghio is reflected in unfilled jorders of makers in that district { amounting to 1,000,000 tons for third &, and fourth quarter delivery. — e PRICE OF SILVER. NEW YORK, July 24 (A .—Bar sfiver, 637%; Mexican dollars, 48%. 7 o ! | Open. High. Low. Closs. ! 28 FRENCH BOND LIST IMPROVES TODAY \General Market Is Dull, With‘ Price Changes in Nar- row Range. BY GEORGE T. HU Special Dispatch to The Star. NEW YORK, July In sympathy { with the present recovery in { French franc following the fermation { of the coalition ministry, French bond fssyes.as a rule were some- what better today. The French gov- ernment 7s were an exception for while. They left off vesterday at §9%. They sold down today to 89. Before the close, however, they regained practically all of their loss. French government 8 were up ractionally and the 7%s yere steady. Department of the Seine 7s were quite strong and French city issues aid_better. Kingdom - of Italy were quite active at declining prices. From 89, which was the close yesterday, these bonds went off about a half a point. Saxon 7s were slightly easier. Brazil 7s were dealt in for the most part at unchanged prices. Bolivia S were somewhat higher. The demand for German government 7s continued, but without any further advance. Belglan issues, which all along have been af- VHES. the | fected by the French conditions, were, some of them, higher, the 61s up half a polnt. Scarcely any change occurred In the Liberty group. The general bond market was dull and, as had been the case all week, inclined to soften. Ana- :onda 6s, United States Rubber 5s and International Mercantile Marine 6s were all off fractionally. Little happened in railroad bonds, Issues like Baltimore and Ohfo 68 and Atchison general 4s were dealt in at 13 to % of a point variation. This was typical of what was going on in the investment section of the market. LOREE MERGER PLAN TO GET CLOSE STUDY New Transcontinental Line Seen in Linking Up “Katy” System. Action Expected. Announcement yesterday by L. F. Loree, president of the Delaware and Hudson, of plans for a merger of three railroads in the Southwest is seen here as possibly foreshadowing a new trans- continental railroad. While it had been known for some time that plans to merge the Kansas City Southern with the St. Louis Southwestern and Missouri, Kansas and Texas have heen in the.making, announcement that terms had been drawn up for early submission to the Interstate Commerce Commission aroused considerable interest in com- mission circles. Mr. Loree conferred recently with several commission members and it was indicated at that time that he had janother project under consideration. Since then the Delaware and Hud- son has applied for authority to ac- quire the Buffalo, Rochester and Pitts- burgh, and Mr. Loree also has pend- ing a proposal to build a 284-mile line across Pennsylvania with a view to shortening the route between New York and Chicago. The proposed Southwestern group- ing coincides in some respects with the commission’s tentative consolida- tion plan, and it undoubtedly will be given far-reaching study by the com- mission in its effort to work out, under congressional order, a_transportation network comprising a limited number of railroad systems. While the St. Louis Southwestern is linked with the Missouri, Kansas and Texas in the commission’s Frisco- Katy cotton belt system, the Kansas City Southern is included in the sug- gested Chicago-Missouri Pacific group with the Missouri Pacific and several other roads. The variation in the two plans, how- ever, would not preclude commission approval if it found the Loree project met its requirements on financing, which it laid down in disapproving the Nickel Plate merger. WESTERN MARYLAND EARNINGS GAIN IN JUNE BALTIMORE, July 23 (Special).— The Western Maryland Railway is maintaining the favorable earning record it set more than a year ago, it is revealed by the statement of re- sults for June and the first half of the year just made public. June figures show a comparative gain in operating revenues of $240,198. Operating expenses increased $112,- 883, while net operating revenue in- creased $117,315. Net income, after deductions, was $126,342 greater than in June, 1925. For the six-month period operating expenses increased $823,780. Net operating revenue was $461,125 greater than in the corresponding period {n 1925. Net income increased $517,408, or more than 95 per cent comparnd with a year ago. N MR N5 S BRreeel BUILDING TO GO ON. Dominick & Dominick Foresee No Construction Slump. 4 NEW YORK, July 24 (#).—Although final figures for building construction in 1926 probably will show a decline from 1925, this recession will not in- dicate any depression, but simply a return to normal building dctivities, says a review by Dominick & Domi- nick, stock exchange brokers. “The tremendous boom of 1925 has not been attended by the usual conse- quence of inflation in the industry. There has been very little overcon- struction, From mow on the industry will keef busy at a more moderate rate, subject to the customary sea- sonal decline in the last half of the year.” RUBBER UNCHANGED. Special Dispatch to The Star. NEW YORK, July 24—Crude rubber smoked ribbed sheets were un- changed at today's quotation of 41 cents, This compares with 44 cents a month ago and $1.16 a year ago. ISR RN R GERMAN BONDS AND STOCKS. (Quoted in dollars ver ln“lloa’ marks.) -18 1150 e 53g 2 28252283852333383 822 (Quoted in dollars per thousand mark: ¥ Gen Blee 433 prewar . Ger Gen Elec 4148 1010. 300 rlin 45 pre-war, 500 mburg Anser ine 4 50 Nortn Gorman Liovd A 6 Belitelan Conmols %28 788 ‘onsols’ i Kruipp 08 1951 - 1§ - B DR EE S oo S S 5ol N NEW YORK Raceived by Private Wire Direct to The Star Office. UNITED STATES. 1 (Sales a Sales Lib 8%s. 2 Uib 1st 4%s 356 T4b 3d 4%s. Lib 4th 4% s 190 US3¥s.... 176 USds1044. 21 UB4Y% 2 i $1,000 High 1014 1023 100 25 1015 10217 101 12 103 28 107 27 FOREIGN. Saios. Hisgh, Low Argentine 6s Juf9. 9 99% Argentine fs Oct ¢ 20 99% Arrentine 6s A.... 13 100% Argentine 6s B. 9% Argentine 79 101 Australian b Austriafs. ... Rank of Chile 8% Rank of Japan fs. Relgium 6. o Retgium 61 Relglum 78 Helglum 7% Relgtum 8. .. Aolivia 8 Rordeaux 88 Brazil 78 Brazil 88 Canada s 1931... Canaca 58 1952 Canadw 5%s 1929 Chile 78 1948, Chle 8s 1941, “on Pow Japan 7s. Czecho 88 1962 ct. . Dantsh Munic 8s B. Denmark 88. . Duteh Fast T 6n 47. Dutch Rast T 6s 62. Finland s £ 68 45. .. Finland 78 . Peamerican 7%8. .. French 7n. French T%s. French fs. German s Gor Agr Banl Halti8s. ... Holland Amer 6s. . Ttaly 78 . TJapan Tapanese 6% Lyon 8s. Marsellle 6s. o . Mexico 48 10 asntd. Mexico 58 ansented Netherlands 6s 72. Nord 615 5 o Norway h%s Norway 65 1943. Norwav 6s 1944 .. Paris.Ly-Med 6. Paris-Ly Med 7s Parfs Orleans Ts. Peru T%s. Poland $s. Prague 1% Queensland 8s Oueensland 78 Rio Gr Do Sul 8s Selne 7s 42. . Serbs Crot Slo Swiss 5%s 194 Swiss Confed 8s. ‘Toho Elec Power 78 Toklo 5s.... . Utd Kingm 5%s 29. 22 Utd Kingm 5%s 37. 25 Uruguay 8s 1109% MISCELLANEOUS. Am Agri Chem 7%s 10 104% Am Smit& R 1st 53 AmSmit& R 6s Am Sugar ref AmT&Tol tr 4 AmT&Tsf6s... AmT & T deb 5%s. 20 Am Writing Pap 6s 6 Anaconda 1st 6s... 19 Anaconda cv db 7s. 12 Andes Cop 7s rets. . 15 Armour Del 5%s 10 Associated Ofl 6s.. 13 Atlantic Refin 6s... 3 Barnsdall 6sctrs.. 1 Rell Tel Pa5sC.... 2 Beth Steei rf 5 1 Beth Steel 6348 53. 22 Beth Steel 8s. 1% Bklyn Ed gen 58 Bush T Bldg 5= 60. Cen Leath 6s 45 cfs Col Gas & El5s sta. Commonwlith P 6s Donner Steel Dugquesne Ligh fst Cuba Sug 7%, EmpireG & F 1% Good year 85 1981.. Hershey 5%s. ‘Hoe & Co 818 Humble O & R 5% Illinofs Bell 18t & 1nt Paper 6 It T&TE%S. Lacl G ref 58 34. Ligrett & Myers 7s Loulsv G & E 55 62 M1d-Con 8%s 40 Midvale Steel 6s. N Y Tel 65 49. North Am Ed 6%s. Nor States Pow 58 Pac Gas & E1 5. PacT & T 18t 5s.. Pan-Amer Pete €. Peoples Gas 58 Phila Corf 68 A Piarce-Arrow 8s. Public Service 6 Punta Alegre 7 Sinclair Of1 Sinclair Ofl 6%s. Sinclair Ol 7 Sin Crude O118s. 1. Sin Pipe Line bs. .. Southwest Bell 5s. Sug Est Odlent 7s.. ‘Tenn Elec Pow 8s. Toledo E2dn 1st 7. U S Rub 1stre6s.. U S Steel sfb8.... Utah Pow & Lt 5s. Vertientes Sug 7 Warner Sug 78 Warner Sug West Elec 58 ‘Westn Unlon Westinghouse ‘Wilson & Co 1st Winchester A 7 Youngstr 8 & T RAILROAD. Atchison gen 4s Atlantic C L 1st 4 AtlanticCL Ts - = . RN D Rt N =PRI A N~ — =D O~ ®D 0 - B&Orfimo 8 b&OSwDivisefs 1 B & O Toledo 48 Bklyn Manhat 6 Buff R & Pitt 4%8, Canad North 6% Canad Pac deb 4 Car Clinch & O 6 Central Pacific 4 Cent Pac 1st 58 90 Chi Great West 4s. CM &StP 4s25cfe l: 87 102% 2% 88% 87 ! 96% 85 Low. 4 10A% 106% 4 101% 101% i 108% 108% i 100% 100% % 1027 102% ) 3102 17 10110 10327 | 107207 Close 99% 99% | 69l 96¥ 99% 997 99 69% 100% 100% R ORI 102% 102% a1 97 100 100 814 84'% 894 90 92% 92% 106% 10%% 83% 83% 914 941 104% 104% 101% 101% 104%,104% 102% 102%4 10115 101% % % 102 102% 904 99% 102% 102% 101% 102 110% 110% 104 104 106% 105% 105% 10A% 88% 89% 93% 99 89% RI% <0 §9% 94% 9% 101% 101% 104% 104% 99% 99% 58 99 82 81 s8% 88% 89% 89% 27 97% R3Y A3 B3% 83% 26% 6% 42% 42% 108% 108% 79 79 a7y 87% 101% 102 100% 100% 74 74 3 83% £3 R3 99 99~ 86% 86 105% 105% 114 114 103% 103% 101% 101% 1017% 102 102% 102% 98U 98% 86% °85% 92% 92% 103% 108% 14 114 95 95% 3% 14 118% 118% 104% 104% 109% 109% 104% 104% 100% 100% 108 108 103% 103% 981 97% 102% 103 29% 100 105 106% b5% B5% 108% 102% 106% 107% 103 108 93% 93% 102% 103 100% 100% 97% 97% 100% 100% MUY 947% 10t 101% 102% 102% 29 99 1017 1024 100% 100% 104% 104% 82% 824 105 105% MU% 94N 107% 107% 107% 107% | 95% 96 94% 944 105% 105% 104 104 108 103 115 115 106% 106% 110% 110% 101% 101% 93 98 102% 102% 102% 102% 884 89 100 100 107% 107% 100% 100% 122% 122% 99% 99% 104% 104% 97 97 102%_102% 115% 115% Close. 103 1034% 95% | 109% | 89% 995 68% % Sales. High. Low 103 5 102 &StLrt6sA. Den & Rio G en 48, D & Rio G imp D Rio G West b8 Frie gen 4s. . Erle conv 4s A Erlecenvas D. .. lirie conv ext 7s Kirie Genessee R 68, MaBCisT4...... Gr Trunk of dt 8s Grand Trunk 7s. Great North 5%s. . Gr North gen 7s. .. Havana ERL&P 50. Hud & Man ref §s. Hud & Man aj 6s. 11 Central 5%s. M-C-C StL&NO 5s. Int Rap Tran bs. .. Int Rap Tr 68 stpd. Tnt Rap Tran 6s Int & G Nor ad 6x Towa Cent 1st 5s. Kan City F't @ 48, Kan City 8 6s.. Kan City Term 4 Take Shore 4s 31, Louis & N uni 4s. Louls & Nash 7s Market St 7s 40. Mi1 El Ry & L bs. . M St P & SSM en M St P & SSM 5%s. Mo Paciflc gen 4s. . Mo Pac 55 1965. Mo Pac 6s 49 D. Mont Trm ref 55 41 NO Tex & M5sB.. N g S ~BeSami8ann - 100% 74 8% k3 4% 584 9214 9T 87 97 944 FINANCIAL. CANADIAN WEATHER | BOOSTS WHEAT PRICE| Farly Setback Offset—Big Charter- ing of Vessel Room Is in | Progress at Gulf Ports. I Special Dispatch to The Star. CHICAGO, July 24.—General buy- ing developed in all grain today after an early setback that was due largely to the liberal winter wheat movement, with Kansas City wheat receipts to- day at a new high record. fears of «a return of dry, hot weather in Can- | ada were chiefly responsible for the | upward swing of wheat values. Word | was also at hand that the big charter- | “ing of vessel room for wheat is in progress at the Qulf of Mexico. | Wheat closed firm, 1% to 1% t higher; corn 1% to 1 % up; oats show- ing 1% to 1% gain, and provisions un- changed to 20 advance. On the declines in the wheat market today buying appeared to be of a more substantial character than the selling. A good deal of this class of purchasing was apparently based on Canadian advices that suggested ris- ing temperatures, with prospects of a warm wave over Sunday. Sellers of wheat today, however, laid considerable stress on announce. ment that since Monday there had been 2,281,000 bushels increase of stock of wheat at Kansas City. Such traders urged that with reasonable fa- vorable conditions in Canada the heavy farm marketings of Winter wheat in the United States made further price declines probable. N Y Cent deb 4s. .. NYCrfim4%s13 NYCentri6s.... N Y Cent deb 6s. . . NY Cent LS cl 3%s NYChI&StL 5% sA. NYC&StL6sA.. New Havd 48 67... New Havan c d 6 N Y Rys 6s65. . NY W & Bos 4%s Norfolk & W cn 4s. Nerthern Pac 3s Northern Pac 48 Northern Pacr1 8 Ore & Calif 1st 5s. . Ore Short L rfs 4s. Ore Wash 1st rf 4 Pennsyl gen 5s. Pennsyl 5s 64. . Pennsyl 6%s N = o R O A e o e o Por RL&P T%s 46. Reading gen 4%s Rio G West cl 4s. St L IM&S 4s 29 StL&SFplésC.. St P& KCShL 4%. San A& ArnPds.. Seaboard A L 4s sts Seab A L ref 4s. Seab A L ad] b: Seab A L con 68 Sou Pac 4s 29. . Sou Pacific elt 4 Sou racine rer 4 Southern Ry gen Sou Ry con 58 94 it @ Lafitmaun Union Pac 4s 27 Union Pac cv 6 Virginia Ry 1st Wabash 5%875... ‘West Shore 1st 4s. Wisconsin Cent 4s 13 82% 84 FRANC IMPROVES. PARIS, July 24 (#)—While the Bourse was closed today, the franc showed steady improvement on un- official quotations. It was quoted at 9 o'clock at 41.75 to the dollar and 204 to the pound sterling, as against last night's official closing of 42.87 and | 208.25, respectively. At 10 o’clock the Deny Crop Damage. WINNIPEG, July 24 (®).—Although rain is unodubtedly needed in many sections of the Canadian wheat belt, advices received by the Canadian press fail to_substantiate reports emanating from Chicago vesterday that there had been considerable damage to wheat crops from Iack of moisture. Weather conditions have been favor- able to the crops in southern Sas- katchewan and, according to these re- ports, damage from heat and lack of moisture in other parts of that prov- ince and in Alberta has been not more than is usual at this time of the year. BRITISH SHIPS CARRY LARGE EXPORTS OF COAL BALTIMORE, July 24 (Special)— American steamships lag far behind in coal deliveries to Europe in the present rush resulting from the Brit- ish strike. In this month only one vessel flying the Stars and Stripes has cleared with that cargo, maritime rec- ords show. British ships show a great majority in the heavy exports. Twenty- vessels of the nationality arrived and departed from Baltimore since July 1 with coal cargoes. Italian freight- ers were next with 9. Of Spanish there were 2, Norwegian 3, German, Japanese and Danish, 2 each, and American and Belgian 1 each. Approximately 264,887 tons of coal was shipped from this port since July | 1. Fifty-one vessels carried this amount. Fifty-seven other cargo car- riers are en route to Baltimore to take coal from here, and the number is growing daily by new sailings. B A I 1 BALTIMORE PRODUCE. BALTIMORE, July 24 (Special).— Potatoes, barrel, 1.00a3.25; bushel, 1.00a1.25; sweet potatoes, barrel, 7.00 al14.00; beans, bushel, 80al.25; beets, hundred, 2.00a3.00: cabbage, hundred, 2.0024.00: carrots, hundred, 3.0025.00: celery, crate, 3.00a5.00; corn, dozen, 10a35; cucumbers, basket, 25a35; egg- plants, crate, 2.00a5.50: lettuce, box, 50a1.00; onions, bushel, 75a1.25: peas, bushel, 1.50a2.00; peppers, bushel, 1.25a1.50; squash, basket, 20a30; to- matoes, ripe, ecrate, 50al.75; green, quotations were 41.12 to the dollar and 200 to the pound; at 11 o'clock, 40.87 and 198.75, and at noon, 40.91 and 199. S SEES SLUMF ENDING. CHARLOTTE, N. C., July 24 (#).— Indications are that the period of severe depression in the cotton-spin- ning industry in the South has about passed, according to a bulletin issued by C. Singleton Green, secretary of the Southern Yarn Spinners’ Associa- tion. He added that within a short time it is reasonable to expect a nor- mai demand for yarn and other ~ot- ton goods. POTATO MARKET DULL. CHICAGO, July 24 (#).—Potatoes— Receipts 39 cars; total United States shipments, 664; on track 173; trading rather slow; market dull; Kansas and Missouri sacked Irish ocobblers, 1.25a 9% 97% 108 108 110% 110% 105 105 | 99% 100 99% 99% 101% 102 105% 106% 101% 102 104'%% 104% 107% 107% 103% 103% 108 108 103% 103% 98 93« 97 9% 100% 100% 90% 90K 2% 106% 96% 9% 102% 106% 100 964 | 90% | 17% 84 108% 91 10¢ 98% 138 69% 6% 68% 62% 62% 102 86% 87 102% 102% 12 124 89% 89% 87 87 96% 8. 150; few shade higher; Virginia, bar- rel, Irish cobblers, 3.65a3.75. B DAIRY PRODUCTS. BALTIMORE, July 24 (Special).— Live poultry — Spring chickens, ound, 30a40; leghorns, 25a32; old ens, 27a30; hens, 27a30; leghorns, 20a 22; roosters, 20; ducks, 25a28; old, 15a20; pigeons, pair, 30a40. Eggs—Receipts 278 cases; native and nearby, firsts, dozen offered at 271 and 29. 5 Butter—Good to faficy creamery, pound, 40a42; prints, 42ad4; blocks, 41a43; ladles, 32a33; rolls, 28a30; store packed, 27a28; dairy prints, 28a 30; process butter, 35a36. SR MR LR BUTTER IS STEADY. NEW YORK, July 24 (#).—Butter steady; receipts, 14,466 packages. Creamery, extras (92 score), 41; cream- ery, firsts (88 to 91 score), 36a40%4; packing stock, current make, No. 2, 27, PRI AP SRR R COTTON GOODS ACTIVE. Special Dispatch to The Star. & NEW YORK, July 24 (#).—Cotton goods markets were somewhat more active today, especially in sheetings. Print cloths were unchanged at 73% cents for 64-60's and 8% for 68-72's. lRawl' silks were quiet at unchanged evels. WOOL MARKET DULL. Special Dispatch to The Star. BOSTON, July 24—Raw wool markets closed the week dull but ‘without quotable price changes. Do- mestic wools are moving in small amounts, with best demand for low grade territory and fleece wools. There | A is little demand at the moment for foreign sorts. S. A. L. WANTS ENGINES. NEW 'YORK, July 24 (#)—Sea- board Air Line is in the market for 10 locomotives of the 2-8-2 type and it N 25 of the 0-6-0 type, the first sizeable 5!11!!:!1 inquiry for engines in some time. BANK CLEARINGS. NEW YORK, July 24 (Special). lew York bank clearings, $§885,000, 000,000; New York Federal bl 50a1.00. Apples, barrel, 1.00a2.50; bushel, 40 a1.00; blackberries, quart, 8al4; canta- loupes, crate, 75a3.25; honeydews, 60a 2.00; cherries, pound, 8al5: currants, quart, 20a25; peaches, bushel, 1.00a 2.00; huckleberries, quart, 12a20; water- | utilized melons, hundred, 15.00240.00. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY ATLANTA, July 24.—The peak of the Georgia peach inovement has passed, but shipments will continue for a month or more. The first ex- periments in exporting peaches in re- frigerator ships have been very suc- cessful. Fine prices were received in England and new markets opened in the Virgin Islands, British West Indies and Central America. PORTLAND.—emand for hops is exceedingly strong, with only 67 bales remaining unsold in growers’ hands in Oregon. Offers of 30 cents a pound or better are being refused. Con- tracts for three years, beginning in 1928, are reported above 22 cents a pound. CHICAGO.—Although steel produc- tlon in Western mills is proceeding at a good rate, the scrap market here is lagging, with prices quoted from $14.25-to $14.75, as compared with a recent top of $15.- SAN FRANCISCO.—Crude oil pro- duction in California is showing a slight increase. Stocks have fallen off, showing increase in consumption. Daily production last week averaged 616,900 barrels. NEW ORLEANS.—Jobbers who have traveling men out in this sec- tion say orders are coming in very satisfactorily. Wholesale dry_goods orders for Fall delivery are ahead of those of last year and shipments for Fall are beginning to move in good volume. TREASURY CERTIFICATES. (Quotations furnished by Redmond & cd) Offar’ 2 1005-32 100732 4 ".E'éz,‘l's. igggl 100393 100633 H S AN 180 e SHORT-TERM SECURITIES, & Co. (Quotations furnished by mdmonN:“B__)‘ . = S83BEITIRIRT s b s 8Z2seeEteREEzREE P GAIN DURNG WEEK | INBANK LEARINES Richmond and Atlanta Have Decreases—Rail Appeal to I. C. C.—Notes. BY EDWARD ¢ Substantial ns in bank clearings were reported most of the leading cities of the country this week, the aggregate increase being $8,916,407,- 000. According to Dun’s Review the largest expansion in Boston, which reported an 15.3 per cent gain. In New York the gain was over 7 per cent. Baltimore had an 8 per cent increase but Richmond had a de- crease of 8.8 per cent and Atlanta recorded a decrease of 12, which was the largest slump of any eity in the country, all the comparisons are being made with the corresponding week in 1925. Finds Business Doing Well. George E. Roberts, a former Wash- ington man, who prepares the month- v bank letter for the National City says of general business condi-, TONE. was “Despite the skepticism as to the outlook that has heen continuously displayed during the past six months, and the handicaps of weather, falling commodity prices and n bear stock market much of the time, business display vitality that gives e as to the soundness of its foundations. Already many of the prophets of building decline have gone astray because they have failed to recognize that the present building boom is founded not alone upon the shortages accumulated during the war, but is the result also of the great changes that have taken place in standards of living and in stand- ards of efficiency in industry. These changes have rendered our dwellings and office buildings and factorles ob- solete, and necessitated the recon- struction of large sections of our cities and our manufacturing plants to conform to more modern ideas and requirements Amendment of Order Requested. The Western Maryland Raflway has the Interstate Commerce don that the sale of $2,278,000 / company's equipment trust certificates has been hampered by the statement in the commission’s author- tion of the issue describing the 1,800 box cars as rebuilt equipment, says the New York Commercial. ‘The bankers who purchased the cer- tificates have represented to the com- pany, it was asserted, that they un- derstood and so represented to their customers that, although some pre- viously used materials were to be in the construction of the equipment, the cars when constructed would be new cars. The commission has been asked, therefore, to amend the wording of its order. Records of Week's Failures. The number of failures in the Unitea States this week only slightly exceeds the total for last week, 359 defaults comparing with 354 in the earlier period. A considerably more favorable showing is made than was the case a sar ago, when 426 insolvencles were reported. Piggly Wiggly Sales Gain. Piggly Wiggly Stores report for the first half of this year sales of $77,033,- 841, compared with $65,080,747 in the same period last year, a gain of 18.3 per cent Donaldson on Vacation. R. Golden Donaldson, president of the Commercial National Bank, left here last evening for Asheville, N, C., where he will spend several days of a brief vacation. He will also visit ashville, Tenn., on his trip, which » will last about 10 days. CANADIAN ELECTION SET FOR SEPTEMBER 14 — . Prime Minister Meighen Opens Campaign With Attack on Former Cabinet. By the Assoclated Press. OTTAWA, Ontario, July 24.—A par- , liamentary election will be held Tues- day, September 14, Prime Minister Arthur Meighen h: definitely an- nounced. In opening the Dominion campaign, he charged bungling on the part of the fromer Mackenzie King govern- ment in evel attempt at initiating important legislation. Many times, he said, his predecessor’'s government had been compelled to reverse its proposals and withdraw its bills Touching on the customs reports Mr. Meighen declared the King gov ernment had been responsible for “the loss of millions of money and frauds unnumbered. He declared Mr. King had seen that his administration was doomed and had decided ‘“to change the Jury Mr. King’s dissolution of the Parliament while a vote of censure was under review, he added, had con- stituted “pleading for an irre- sponsible and not a responsible gov- ernment.” PURE FRENCH PICTURED. | Exhibit Opened Recently Planned to Show True National Type. PARIS, July 24 (@).—Undiluted blue blood was essential before a por- trait could figure in an exhibition which President Doumergue has just opened. The 70 photographs of society ‘women, grandmothers, mothers and daughters on view represent an effort to establish the true type of the aris- tocratic French woman. In_ order that this type might be purely French, no photograph is shown of any fe- male members of the French aristoc- racy into whose family a foreigner has entered by marriage during the last 200 years. Duchesses, countesses and mar- quises responded readily to the ap- peal made to them by the Countess of Mortemart, who initiated the schem the more so as the money raised by the admission fees to the exhibition will be handed over to the anti-tuber- culosis dispensarfes run by the countess. America will be able to draw fits own conclusions as to the French woman's type, as the photographs are to be shown there affer the ex- hibition closes in Paris. BB R e BOSTON STOCK MARKET. BOSTON, July 24.—Following is a list of today’s highest, lowest and closing prices for the most active stocks dealt in here: