Evening Star Newspaper, July 26, 1926, Page 22

0 ¥ PRICES ARE BETTER - INSTOCK MARKET, i i: ! S. Steel and heral Mo- fors Lead P.se—ml Shares i h.ot Prominent. BY .'s'l'l ABT P. WEST. Bpecia! Dispaich to The Star. NEW YORK., July 26.—TFollowing last week's shurp decline on the Stock Exchange, prices did better today There were no grounds for antici- pating that what was no more than a market correction woukl run into a more serious decline. The check to operations for the rise had come through the discovery that these were obtaining little outside fol- lowing and they depended mainly upon the activities of professional Street. But when the professionals had done their selling and taken the short side the marget was in a position to rally. United States Steel common had gone down last week over six points: Amerjcan $melting eight points, Gen- eral Mgzors two, while more or less violent breaks had occurred in some ;_; the highly manipulated specialties. he Street reasoned from this that the reaction had gone pretty far and that it was time to think about some sort of movement in the opposite direction. Once more it was a case of Steel and General Motors being the leaders. Both stocks rallied briskly. Hudsen Motor appeared to be encountering support around 60. White and Mack Trucks were both higher. Studebaker wag comparatively unresponsive o the report of the second quar al for the half vear. Colorado Fuel & Iron, which had, | sold as high as 47% last week and had left off at 453, dropped a point ] right at the start. but subsequently ot back most of the loss. 0Oil shares were not promineut in} the trading. Neither were the cop- pers. American Smelting dropped another point, then hardened. Bald- win Locomotive gained a fraction. American Can succeeded in ho!(lin!' around top figures. The demand con: tinued for Texas Gulf Sulphur and Burns Brothers “A” was quite feature on the buying side. On the other hgnd. some selling was going! on_in, Famous Plavers and in Coca- | Cola. which at one time was off nearly | &, voint. 1n the late .‘\fler(‘\\m\ trading picked up a bit. Previously it had gonej through considerable intervals of dull- ness. Motor shares led the way. eral Motors, Hudson and Mack Tru and such members of the groud as; Pierce-Arrow and Dodge A were mod-| erately higher. Outside the motors| nited States Steel and Baldwin Loco- motive were the features. American; Smelting rebounded from its low. In the rails there was a brief period of bidding for the Wheeling and Lake Erie issues and a.small gain in New Haven. Kansas City Southern did nothing to speak of on the announce- ment of the application for permission to put through the Loree merger in the Southwest. * CLOSING U. S. Steel Commands Attention in Late Trading Today. NEW YORK. July 26 (®.—7The closing was firm. Although the rise in the rail shares remained the fea- ture of the late trading, United States Steel commanded special attention hecause of predictions that unfilled FIRM. | Wall | FINANCIAL. NEW YO i i Ahumaéa (y1).. \XrRMueln(ti) HNE ll." | Ajax Rubver. ... | Albany Paper. .. All Am Oable(7) | Allted Chem (4). AllledCm pf (7). Allls Chalm (). Allis Chal pf (7) Amerada (2).... Am Agrieul Chm Am Agri Ch pf.. Am Beet Sugnr.. Am Boseh Am Brake Sh(l) | Am Br Rov BI(2) | Am Br Bo pt (7) | Am Can (2).. Am Can pf (7). Am Car&Iay (8) Am Chain A (2 i Am Chicle cta(3) Am Drug. . Am Express ). Am & Vou Pow. {Am 1T1de & Lew . ; Am Hide & L pt. {Am Ho P (2.40). Am Internat AmLa Pral).. Am La¥Fra pf( Am Linsd pf (7). Am Locomot (8) Am Metals (4).. | Am PolLt (g1). Am Republic. . .. Am Safety R (3) Am Ship & Com. Am 8m & Ret (7) Am Stl Fdys (3). Am Sugar (6)... Am Sugar pf (7) Am Sumat A cfs Am Tel & Tel(9) A Tel& Teieg ris Am Thdacco (8). Am Tobac B (8). Am Typ Fdrs(8) Am Wa Wo cl.2v Am Wool pf (%) n Writ Pa .. n Zine. . Am Zine pt | Annconda (2). Archer-Danie's. Armour of T1(A) Armour Il pf(7) Arnold Con (n). | Atchison pt (6)7" AtI Birm & At... AN C Line(19%) A1 Guif& W1, Atlantic Refine.. Atlas Powdr (1), Austin-Nichols Austin Nic pf(7) Radwin L (7)., Ralto & Ohlo(5). Rang & Ar (3).. Rarnsdall A (2). Barnsdall B (2). Reech-Nut (13 Bathiehem Ste Beth Stl pf (7) Botany A (4).... Briggs Mfg (3).. Bkin Edison (8). BKkIn-Mn Tr (4). BKkIn Un G(t11). Brown Shoe (2). Brunswick Tar.. Burns Brd (10).. Burns Br B (2). Burroughs (4). Bush Terminal.. Bush Ter de (7). Butte&Super(2 Butterick. .. Calif Petrol(2).. Calumet& Ar(6). Calume&H(114). Can Paeifie (10). ‘Casé Threshing. Case Thr pt (7). Cent Leather.. .. Cent Leather nf. Century Rib M. Cerre Da P (4).. tonnage at the end of July would snow the first increase this year. General Motors, du Pont and various specialties also reached the day's best prices in the final hour. Total sales fell below a million shares. Markets at a Glance YORK (#). aves tead advance foreign issues higher. changes steady: French recovery. Cotton in Southwest Coffee markets, 30.— \Wheat higher: Spring wheat repor decreasing stock: Hogs firm to higher. tocks higher: Bonds firm; Foreign “ex- | francs con: ! higher: too | Sugar Tt weak; lower unfavor Cotton Cattle steady. NEW YORK, July 26 () —Business enters latter half of the year with the domestic situation in ger han was anticipated ‘s the Guaranty T York. Developments in most of the ding branches of industry and trade have been reassuring. Prices of membership on the New York Produce Exchange have made sharp advances in the last week, pre- liminary to the opening of a grain f tures market on August 2. One seat was bought at a new high figure of $3.150. Memberships recently have heen bought by Winnipeg operators, millers in Baltimore, Duluth, Buffalo, Kansas City. Chicago and in Liver- pool. either to trade actively in the market here or hedge herc against purchases in the other mar The effect of the general n the British iron and steel industry was to cause most of the 147 furnaces in blast at the end of April to be damped down or blown Ofit, says the Bankers’ Trust Co. the end of May on in _operati; g fell” from .100 tons 88,000 tons in May. Steel production fell from 661,000 tons in April to 45.700 tons in May. These figures compare with monthly averages of £55,000 tons of pig iron in 1913 and 00 in 1925. The 1913 nfonthly average of steel production was 638, 600 tons and 616,400 tons in 1923 production in April te The export of Polish coal fa develop- ing favorably. showing a contihued rise, the American Polish Chatber of Commerce and Industry in the United States reports. In the first half of 000 tons of coal were ex- ported. a gain of 151500 tohs over the first half of May. Increased pur chases were made by England, Aus. ! tria, Crzechoslovakia, Denmark and Hungar: The New York security holders com- mittee for a fair returh for the North- western railroads. organized by Roose- velt & Son, is mailing a letter to all who supported the committee, stating that the railroad executives will be asked immediately to také steps to correct improper rate relations in the Northwestern territory. The commit- tee has declared that the failure of | the railroad exécutives to agitate for Certain-Teed (1) Certain-T 2d (T) Chand-Cleve. Chand.Cle p( Ches & Oh (fll) Chi & Alton. ... Chi & East I11. Chi Great Weat. Chi Gr West pf.. ChiMII & StP... Chi Mil & St P pf C Mil & St P ctfs C MII&SLP pf ofs Chi & Nw» (4).. Chi Pneu T (5) ChiR1& Pac... CRI&EPDL(T). | Chita Cop (2%) Chrysler Corp(1) 1 *Clev & Pitt( | coea-Cola (7). Collins & Afkmn Col Fuel & Tron. Colo Southern. (Col Gas & EI (5). 'Com Cred (2)... Com Cred 15t 8% Com Solv B Congeloum-N. Congress Cgr(3) Coniol Cigar. Con Cigars p(1) Consol Distribut Consol Gas (5).. Consol Textile. . Omn 2. 158 125 121% ' 102% "y 218 a“ 108% 57% 13 a8 18% Y 40 25t i 57% A 102% 5 "Q's 83% 124 142% | Calif Packing(8) 158% 32% 815 163% 127 m 9 lls“ " 9% 128% 10 16% 97 164 Cont Can (16)... g 1 Cont Insur (6 Cont Mot (80¢).. Corn Prod(12%) Corn Prod pf(7). Joty Ine (4).... Crueible Stl (5). Cuba Cane Sugar Cuba Co (4)..... Cuban-Am S (2). Davison Chem. . Deé) & Hud (9).. Del L & Wn (17) Detroit Ed (8).. Devoe&Ra(2.40) | Dodss Bros ClA pt(D... Dnml Mines (2). Douglas Pee (1). Dupont (t19).. Duquesne pf \1) Eastman (18)... Eaton Axle (2) Eiseniohr & B Bl Auto Lt(16%: Blectric Boat. . Eiéc Power & Lt Elee P& L pf(7) Bleo Natrig(£2). Eleo Sto Bat(16) End-John (5) Equitable pf (7) ErieRR.... Brie 1st pf.. rie 2a pt. . Fureka Vac (4). Exchange (1%). frameus P1 (JZ\ werLight(*1.40) wed Min pf (7). FrstND 1sc9. 48, Fisk Rubber. . Fisk 15t pf ev(?) Flelschmn(t2%) Foundation (8). Fox Film A (4). Freeport-Tex! Gabriel A(t4%). Gen Am Tnk (3) ot Gen Cigdeb (7). Gen Elée (H3).. Gen Tatee (112) . Gen Biee sp(80e) 15 rate relief was largely responsible for | Gén Motors (118) 166% the commission’s refusal to grant the increase requestec. . RUBBER UNCHANGED. | NEW YORK, duly 25 (Special.— Crude rubber, smoked ribbed sheets, were unchangéd at tofda:'s noon un: tation of 41. This compares with 4214 a month §&0 .md L3 A year agw. . { BAR mVEB PIX\.E!. NEW YORK, duly 26 U, ——Er sile 5 Mexican dollars, Gen Mot pf (7). Gen Ouidr Ad(2) Gen Outdr A (1) Gen Ry Siz t4%. Glidden (2).. ... Gold Dust. nulmm Ru r4) Goodyear pf (71 dotham 8 H hew ritiby Consol. ! Grt North ot (3 Gt Ne. Ore ul.; Green Canan . .. Gult Mo & Nor. . ngnmn 118 High. Low. Close. 8! 8% B4 118% 118% % 9 20 27 158 153 124% 12§ 121% 85" 'le's 215 216 44 434 43% 108% 107% T BN 2 29 290 1428 182% € 65 87 87 86% 38% 1% 124 144 141% 3T 871 108% 108% 31k 814 924 924 1 10% 31% 82 18815 138% s2u 32 6815 684 16% 16% 1631 1681 1331 127% FEVIIRTYY £ v 921 10% 37 138'% 32% 68% 15% 163% 1384% 1t 9% 54 16 6% 48% 12 214 21% a3 43 1164 303 2 10115 652 9% 113% 345 86 21 | 121% | THE EVENING STOCK EXCHANGE /lcuhfi by Private Wire Direct te The Star Office Open.. High. Houston Oll,... - 58 Howe Sound (3) HudsonMan(2%; Hud Man pf (6) . Hudson Mo(3%) Hupp Mot (1)... T1iinols Cen. (7). Indep Ol1 (1). Indian Metor (2) Indlan Refining. Tndian Refgotfs. Tnland 8t (2%). Iniand Stl pf (7) i Inspiration (2).. incerurd Rap Tr. { ™t Bus Ma (3).. | Int Cement .. int Com Eng (2) { Int Harveer(8).. Int Mer Mar !.‘ Int Nickel (2). Int Ry Cent Am. { Int Tel & Tel (8) {.Int T&Teleg rts. Intertype (t113) Jewel ‘lea { Jones Bros Tea Jordon Mot (3). Kan City South Kayserd (3).... | Kelly-Spring. Tennecott (4). Kevstone T & R. Kresge 88(1,20) Lac'ede Gas (8). Lago Ol1 & Tran. Lambert (31) T.e8 Tire & Rub. Lellzh Val(3%4) \&1MInk ste(3) Liggett & M (t4) LIg&MB (t4).. Lig& Mot (7).. Lima Loco (4) Loew's Ine (2).. Loft. mnmr{ul) Lorfliard pf Loutsiana OML. .. Tou&Nash(+614) Ludlur Steel (2) MeCrory B Man El Sun(51) Man Shirt (1%4). Man El gtd(D5). Maracatbo Oll. .. Mariand Oll (4). Martin-Pary(2). Mathte=on (4 tag Co (2 fcan Seabd Miami Cop (1) \tid-Continent ., Middle State: AMiller R etfs inn & St Louls, | Mis Kan & Tex | Misvour! Pacifie. | VMissour! Pae »f | Wontana Pow(5) | Monteam Ward. Vaon Mot (2) Mors & Esx(31:) | Mothr Lode(75e) Mo Pleture(1%4) Motor Met(3.60) Murray Body... Nash Mot (13).. Nat Acme (sta). Nat mucuit tey Nat Enamel & 8. Nat Po& Lt(40e) Nat Ry Mex 2d. . Nevada Cop (1). | NY Air Brake(2) N Y Airbrake rts N Y Canners C2. NY Central (7). NY Chi&StL(11) NY NH & Hart.. NY On & West Nortk & Wh (18) North A (B3.40). Northn Cent (4). North Pac (5).. Norwalk-(80¢) . . 011 Well Sup (2) Omnfbu Otis Elevator (8] Qtis Steel . Otis Steel pf.... Pac Ofl Stubs .. Packard (12.90 Palge Mot(1.80). Pan-Am B (8)... PanAmWnB(2) Panhandie. Park Utah Pathe Ex (e8) .. Pennsy R R (3). Penn-Seab Steel. Peoples Gas (8). | Pere Marq (18). Pere Mara pf (5) {Phila& RC&I. Phiiip Morris. .. Phillips Pet (3). Pierce-Arrow. Plarce-Ar pf (8) Plerce Petrol. . Postum (5)..... Prod & Refiners. Pub Ser NJ (5 Pub Serv pf (6. Pub S NJ pf (7). Pub 8 NJ pf (8). Pub SE&G pf(6) Pullman Co (8). Pure O11 (1). Radio Corpor A. Ray Cons Cop (1 Reading (4). Reading fi8..... Reading 2d (2) Remington Typ: Rep It & St1 (4 Reynolds Spng! Rey Tobac B(5. Robt Rels & Co Bafety Cable (4) StL & SanFr (7) St L Southwest. | Savage Arms (1) Schulte (§8) Seaboard Afr L. Sears-Rn (2%). | Shell Traad6isc Shell Un (1.40).. Simmons(12.25). Simms Pet (1) { Sinciair Ol ;| Stuclair pt (8).. Shelly O11 12). Sloss Sheft (6).. 1 South Port 8 (8) Sou Cal Edison. . Sou Dairles A(4) Sou Dairles 3. South Pac (8)... Southern Ry (7) % | South Ry pt (5), ) Std Gas&EL (‘fl 1 Std Mill (5)..... Std Ofl Cal (2).. | StdOnNJ (). [ Std O1l NJ l!f(u) | Std Plate Glass. Sterling Pro (5). | Studebaker (&). Submarine Boat. Sun Ofl (11 i Superior O1l | Sweets of Amér. Tenn Copper (1) Texas Co (3).... Tex Guif 8 (19). Tex & Pacll Tex & Pac C & O *Tex Pae Ld Tr. Tide W OIl p2(5) Timken (14).... Tobas Prod (T). Trahséont Oll. .. Uhiderwoed (4).. ' Bag & Paper. i'n Cathide (5). 1 Un Ol (2).. Ul Tk Car pf(7) P 'iabr: liut Bis U S CTP&F ) ot U8 Distribuiing Al U Sdnd Aleoho,. U S Realty (1), © S Rubher. .../ 6k% S‘im Pt 3ia). 49 S Stesl (T) .. 187k | US Stesl pt (1), 1200 " lin the | Steel sinking fund s at one time were Jlnryhnd Canners’ Pro-pects Nono| '4} IRADING ISACTIVE INBOND MARKET iMost Intmst Shown in For-| eign Lists—General Range | «Is Narrow. “l | JORGE T. HUGHES | Special Dispatch to The Star, EW YORK, July The bond | market today was somewhat more active; yet as compared with the standards of a month or so ago it was still - dull. More interest was shown in’ the forefgn section than in any other changes . wkere slight. French Fn\ were dealt in most of the time at an | advance of a quarter to a half point | over the Saturday flnak The 7lgs covered a still ower range. The French 83 did somewhat better Department of the Seine s weére oneé time a half point. ' Parie and ‘Mediterranean 6s im oved fractionally. Tt did notappear, however, that the latest developments rench situation, including. the | | unofficial outline of the new tax program, was having much effect. Helgian s, as compared with most | | others in the foreigir group, were quité | jactive, with little t'hanle All that could have heen said was that both the 7s and 7T';s had a slight impulse | toward higher figures, } Nothing of consequence happened | in the mar ierman 7s. Among Americans the Bolivia 8= one time a half point. I 85 sold up % of a point, then | eaxed off, Kingdom of Italy s were quite active again, but for the most part at unchanged prices. | Liberty bonds were irregular., but| with only the slightest possible varia- | tion in either direction. Among cor | | porate issues sugar honds were quite | a feature. Some selling appeared in | the Warner Sugar issues and in the Vertientes 7s. There was nothing| new in the sugar trade situation to {account for this decline. United States a {up a half peint. 1ligh grade rail- road bonds. like the Atchison zeneral | 4s, were little changed. Interbero Rapid Transit 7= came down a frac. | tion_ and so did Bethlehem Steel | issues, The largest plece of new | at_the start of the week was the $1 0.000 Gatineau Power Co. 6 per cent | sinking fund gold debentures financing | STAR., WASHINGTON. Argentine 78 Australian’ Austria 7s, . :nnh of Chill t of the list, but the net | CEEESF Retglum 61 Balgium 78, Gor Agr Bank7s. . Ger Gen Blec 7 Greek 78. Hungary T%s.. Ttaly 7 . Jup‘-’n-n . 13- s 80% Japanese 6% N Jernvu UM Lyon 6s. Marseills 6s. Mexico 4n 10 aantd Mexico Gsa N N ON NEW YORK "UNITED STATEQ. (Sales nlr:. n Hi 3 Lib3%s.... 111 1016 Iol\ Lib1stde 64 1027 1024 Lib2d 4Xs. IBZ 100 25 100 23 Tibdd 4%s, 120 104 6 Lib 4th 0\( 208 102 13 UBSKs.... 110113 us . 110327 2. 289 107 FOREIGN. Sales. High. Low. Ciose. 3 804 894% 29 %9 9% 99 100% 9814 10°% LAy k of J: 9% RBordeanx §8 81 azi] 7 | Braziigs. . | Canada s 1931... Canace 6% 1952, Canadi. 544 192! Chile 78 1043 Chile 83 1941 Coa Pow Japan is. goucn'hlun 5%s.. Czecho 8# 1961 Czecho 8s 1952 ct. . Danish Munie 88 A. Panish Muni¢ 88 B. Denmarl 6. IDETEY:s Mcl Dnteh Bast 1 6: 4T, Dutch Fast 168 62 Finland & £ 68 45 Finland 7 Framerican T8 French Tn. . Prench 7 French 8« German KI P 6139, 917% 08% lflS't 89% 98y 891 9 Y% 101% A 104% 9% 1024 8 100 £8% erman T !OSW 26'% 434 16 etheriands ord §'2m Norway Gigs. .. acerued interest to yie and was promptly ove Neubadribed; was alko annouynced that the offering » Power rporation fAirst mo e T per cont r 1« by P, W. Chapman & Co and A. M. Lamport & Co.. Inc. had been sold and the books closed. | OUTLOOK 1S DARK. to Good This Year. | Special Dispateh to The Star. * BALTIMORE. July 2 Ni ‘orway fe 1943 Orlent Dey | Quesnsland [ |/ Quesnsiand 78 nhmllM Un7s. orway 68 1952, .. e 914 iale i 094 1084 £6% 103 10044 1064 114 108% 101% oh 6x. + | adverse market conditions which have | saxon (PW) § 4ty l?!h lfil 3 l) 2 8 Rau 18% 117% 10! 101 1% 0% 16% 61 0 el creased 6| 28% | (Quotations furnished w Redm ng . o) 177 26% | an 14 suu 404 | 8 B4t | 564 T2 | 1024 6% - | ners, n the last few | which reached their climax in 1925 | the prospects for the season in Mary-| s years and | Seine 78 42.. 5. | Serbs Crot 8o 3., weden 534= et. ng industry and for a large [ Sw nuntber of farms chiefly dependent on | this industry £o o are regarded {J! far from encowaging. In many instances, the entive 1925 { pack remains unsold on the shelves of | | canners and jobbers, and 1 can- unable ® finance under these conditions, cannot operate this year. | It is estimatéd that about 25 per cent of Maryland's canneries will opened this season | v " VISIBLE GRAIN SUPPLY. NEW YORK, July 26 (#).—The vi ible supply of American grain shows the following changes, in bushels: Wheat, increased 4,2556,000: corn, de- 77,000; oats. decreased $46 00: rye, decreased 13 SV)OO barley, de. g 24,000, 0IL W‘EI.L BROUGHT IN. W YORE. July 26 (Special).— sntinentul Ofl Co. has_com | pletest its second oll well near Mexia, Nigger Creek structure, | nd i estimated to be ,mmm flow of &, mm barrels. i dnsmacs 'IREASURY CERTIFICATES. . |G SKOIT TERM !EOUB.ITKES (Quotations furnished by Redmond & Co.) g Noone— 29, 104 | Ad(ron% Pk . 2t o Contril | Gregon ‘Short Ling | P R R s 58 u “fhas ¢ 192 o1 RS 96% 983 20% 21 29 20, 5% Uni Pic 1st pf(8) Universal Pipé. . ) | vanadium (3)... | Viek Chemieal.. Care €hin).. | va-Car Cn pf(7) | Vivaudou. f Wabash. bash pf A(5). Waldorf (1%) Ward Baking \Vard Bak pf (7) | Warner Bros. ... Weber (4) west P Po pt(7) west MAfyland west Md zd pf.. West Union (8). WWest A Brii6%) Westinghse (1). 1 Wll "‘ 08 priT Yellow T&C rts. Yel Tr&C vt")p flb’l oungstown (4) 80% Dividend m\ are toe ainial B} latest_aiix or | Aeacy u~ 'axtvs or soccin J.ly extra, o al di: naking an | Beth Stesl 65 | Bklyn Ed gen 5 | Bush T BIdg §i Chile Copper Col Gas & il 6 Commonwlith P Con Gas N Co Donner Steel T8, Duquesne Light & Bmpire G & F Fisk Rubber 8s. Goodrieh 8%4e. Good year 85 193 Goodyear 8s 1941.. Hi | Hoe & Co 838 Humble O & R5%#8 1hiineis Bell anknvm 86800, Lacl G raf 68 24 Liggett & Mye Lu‘u‘uv G&Bbs :; N Y Tél 6s41. N Y Tel 68 49 Nerth Am Ed North Ani B4 Nor Oblo T & b b Nor States Pow 65 | Pac Gas & El 58 Pac T & T b8 62 van-Amer Pete | th Cobks u Publie Serv! mm- &HACETSS Remingtn Arms 6s. | 8in Pips Line 58 86 Por Rico SUg 78 ‘Fenn Elee Pow 6. . Toledo Ldn 1st T8 U 8 Rub-18t £ 6 U S\.n ow Vertienies Warner Sug 78 89 Warner Bug 7s 41 | West Elec 6. | Westn Utiion 618, ruguey h [ MISCELLANEOUS.’ 103 98 1 09N 104% % 5% 103% 1067 Andes Cop Ts rets. . Armour&Co 418 rf Armour Del 53%s... 1 Atlantic Teefin Gs. . Bar! Bell Reil. Tel Pa b8 Beth St Beth Steei rf bs. .. dall 68 trs. . ‘el Pa b8 B... 1pm bs. 10ty 93 Calif Pe en Leath 6s 45 en 1074 100t 104% 82 108 95% 9l (oY 1070 Ui 1014 107% 95% 91 196 1034 193 145 108 10% 121 018 93 10214 1024 8 01 Coal Md 18t & T 5% Dodge w 1 6s 103'% 103% 4 105 110% 121% st Cuba !Ilt %! TH shey 544 vis 3| 109 108 101% 105 @ 1014 0844 100% 1084 99% 88% IIN‘\ Mor's & Co 15t 4% New Eng Tel & . Y Duison 68 44. YErhlcn 6%s 115% 107% 0974 9 100 1054 951 1005 or States Pow llM’i 108 P Serv GII‘%!!!- 104% 103% B2 m: cents): Great’ Britain, demani, 4853%; d In Crude i buthwest Bell bs. st Odlent 7s.. 108 Rub 7% Steel s f58. ... Te6s.. ug 78. . 5 100%" 100'% 100% 1l 1115 111 105%.105% 106% lo_n m:as 102% D. C. MONDAY. JULY 26. 1926. NDS e ] Received by Private Wire Direst to The Star Ofice. Close. 101t 1027 100 28 1018 1018 % 102 13 102 15 10113 10113 103 27 103 27 26 10721 107219 8974 9% 101% s 104% 102% 101% 111% 1M1% 1057 »0% 99 "oy, 9 9% 101% 92 104t 9 I 1024 88 100 “’% 89% 964 mfiu I'M M'l | Gr North ren 7s. .. 264 3% » 1037 1020 | 9 "4 K34 90'4 1084 6 103 1001 105% s 10874 101% 1034 1034 | 10| 04 “Toby 1084 Am Agrl Chem T%s 77 Wl‘q 104% 1024 t s 1005 100% | 103% 9 100 105% 8 B56% 108% 1074 i 102% 1023, 107% 100% 104% 82 105 9% Yy 4% 108 o114 101% 108 b5y 9 106 10315 103 145 106 1104 1214 1oty [ w24 1024 59 10 108 101y | 103 1044 98's 1004 1034 100% 100 u8Y 104% 115% 107% 10074 1044 \ou 105 5 I8! nd?:. D \md ml)\ 1054 98 1003 |\ 106% 10044 1045 1034 1047 | S 1004 100% 86 * (] " 100% 100% 91 107% 107% 10245 1024 9515 98 1043 1082 108 i e 1 Sales. High. Low, Close. Wmchm.rA1%l 15 104% 104 164 Y.llllnlll'!'“ 16 104% 104% 104% RAILROAD. Apn Arbor 48 81 Atchison gen 93 Atlantic C L cl 4s AtlanCL 4%s=64. . Atlantie CL 7s. At1 & Dan 1st 4s 48 Atl & Dan 24 4s 48. 1 81 81 924 93 % 911 914 97% 97% 105% 108% 0% 804 4% 18 9 9% 6% 904 6% 97 102% 102% 106% 106% 09% 99% 804 80% 96% 964 - 99% 99 115 116 » O 8wDiv bs efu B & O Toledo 4 Bklyn Manhat Can Nat 4%530... Canad North 7s. Canad Pac deb 4 $37% 887 Cent of Ga 5% 104% 104% Cent of Ga 65 ! Central Pacific Chi& Alton 358 .. Chi & Alt 335 ctfs. ChiB& Qgn4s 68, Chi & E I gn b: Chi Great West 4s. CM&StP4s26... CM & St P 4s 25 cfs CME&EStPeviths. CM&SPev4 1 s32cte C M&St Pria%s. . CM&StP r 4%8 of14 CM&StPcevbs... CM&SP cv bscfs 14 CM&StP6Es. Cht Pys 5s. ChiRI&Prfds Cuba R R bs. Cuba R R7%s. Del & Tud 1strras Del & Hud ev 6n 35. Den & Rio G en 4 D Rio G West 6s. .. Det United 4%s. .. Erie gen 4s. . Brie conv 4s A Erieconv 4s B, Erie conv 4s D Erle Genessee R 6 FlamCss74.. Gr Trunk sf 4b §: Grand Trunk 7s. Havana ERL&P 50 Hud & Man ref 5s. . Hud & Man a) 5= 111 Central ref 4s. T1i Central 51s. T11-C-C StL&ENO 5. 11 Int Rap Tran 6. 29 Int Rap Tr bs !tpd IH Kansas City S 38 Kan City S6s..... Kan City Term 4s. Lake Shore 4s 28 T.aké Bhore 4s 31 Touis & N uni 4s. Louls & Nash 7s. .. Man Ry 18t 90. Ml El Ry & L 68 M StP & SSM 5%s. MStP & SSM 6%s MK&T4sB. MK & T adj MK&TprinSsA. MK&TS6sC Mo Pact | Mo Pae Mo Pac 6s 49 D. | Mo Pac fe 5b B, Mont Triret 5= 41 la \n I Ry 4557, NOT&MBY N Y Cengen3y | N ¥ Cent 45 98 10‘&‘; 107% 93% 108 1034 103 27% 8215 634 77 857 6874 881 3y 1004 9 857y 1 I\TCMMI.L 5%8A. N YL&,S!L‘IA. NV W & Bos 4148/ Nor & S wen 6 54. Nerthern Pac 3a. . Northern Pac 48 | Northern Pacr | 8s Ore & Calif 1st 5 Ore Bhort I, rfs 4s. | Ore Wash tstrt4s Pennayl zen 438, . 074 Pennsyl gen 5s. 104% Pennsyl 6s 84. 100% Pennsyl 6348, v | Pennsyl gold 7 1078, | Pere Mar 1st 4s 56. 86 Pere Marq 18t 58. .. PCC & St L 5s B 75, 1058 o Por RL&P 7145 46. 10715 1074 Rio G W ist4s.... Sk 91y 81 st Rio G West el R1Ark& Lils. 83% 98% l&. 98% 82 82 %97 97w St L IM&S 48 2§ 101 104 . “ | 1 | St L IM&S R&G 4. StL&SFpl4sA StL&SFoprin StL&SFERED. |8t L &SFadfés.. |StL&SFincés StLSWist4 StLL S W con 4s SLP & KCShL 4%. St P Un Dep 5s. m s Seaboard A L 45 sts e i 4 : $ %% B 3% % » 874 90 ! 831, 10674 10674 | ne o 1031 105% 81 Bdw | u\ 58% " 99% a4 09% 90% 1021 1024 100% 101% 99 99 1025 103 N, Ta% 2% 98% " 98% 894 89 Sou Pacific elt 1a.. Sou racific ret 4 | Southern Ry gen | Sou Ry con 58 9. | Sou Ry 65 68 | o exas & Pacific 1st { Third Ave ref 4s Third Aye adj Tol Tt L&P G4 30 Unidn Pac 1st 48. 98 FOREIGN EXCHANGE: (Quotations furnished by W. 5. nuhll mn@ 848 Co.) cks FINANCIAL WHEAT SCORES GAINS ON DRY, HOT WEATHER Unfavorable Condition in Canadian Spring Crop Area Sends Prices Soaring. By the Associated Press. CHICAGO, July 26.—Buying rushes cartied the wheat market up_ quickly today in the early dealings. Dry, hot weather over the Spring crop region of gave unusual breadth to wheat buying here. Starting 1Y to 214 cents higher, wheat scored further gains before beginning to react. Corn, oats and provisions were firmer, with corn opening % to 1% up, but later easing back somewhat. Higher quotations at Liverpool, as well as fear of Canadian crop dam- age from dought and excessive tem- peraugre, did much to encourage af. timea today enlarged demand for futur® deliverfes of wheat in Chicago. Liverpool messages told of decreasing stocks of wheat there, a smalluess of world's shipments and of nervousness over adverse crop reports from Canada. Besides, a wet harvest in portions of Furope was noted, and 30.000,000 bushels falling off in the world’s visi- ble supply as compared with last year. Enormous receipts of wheat at do- mestic primary points today had but little immediate influence toward checking the upward swing of the market. Kansas City especially re- ported huge arrivals, 2,121 cars today as against 695 a year ago. Stocks of wheat today at Kansas City showed an increase of 1,501,000 bu‘hels for the week. i gi WHEAT— Lol epte: Del!nfi July El o progreRnvor ] 333 Ge0 25 2555 ety aaatt Eerd 380 SRES ‘L" l’;f -MP e Decembe: GRAIN EXPORTS DROP. Fall to 4,119,000 Bushels for Week Ending July 24. Eixports of grains from the United States for the week ending July 24 | totaled 4,119,000 bushels as against | 6,716,000 the previous week. | Figures announced today by the Commerce Department gave the fol- | lowing export totals for last week and | the week before: Harley, 560,000 bushels. against 105, 000; corn. 183,000, against 128.000 oats, 58,000, against 319.000; rve, 123 000 against, 906,000; wheat, 3,195,000, against 5.258,000. Canadian graing in transit from the | United States totaled 1,578,000, against 1.308,000, while wheat flour, United States and Canadian, in transit | amount to 156,000 barrels, against | 255,000. 5> oo aba STOCKHOLDERS TO LOSE. | Premier Cab Co. Investors May Not |e Get Money. CHICAGO, July 26 m—ummcml reports based on a survey by Sam | | Tloward, receiver, indicated today | | that stockholders of the defunct | Premier Cab Co. would lose all they had invested, whout $500,000. The | company failed with liabilities that | pay total $1.500,000. more than $1.- 006,000 of which was covered by mottgages. | The offieial survey, It is reported. has shown about $300,000 will be salvaged, but much of this may be | tied np in ltigation instituted mortgage holders. U. 8. RUBBER 00 EABNINOS. NEW YORK, July 26 (P).—Pre- liminary estimates of earnings of the United States Rubber Co. for the half vear indicate slightly more than $4,- 000,000, before preferred &ividends, compared with actual earnings of $5,875,204 in the first half of 1935. It is ‘calculated that net profit, after al- lowing for the $4 half yearly require- ment on the preferred. would be equal to slightly more than $1.70 a share on | the cominon, against $4.02 a share a vear ago, Earnings do not include a reported profit of about $3.000.000 the | first half of this vear made by Gen eral Rubber Co., a subsidiary which | operates in Sumatra | ATCHISON EARNINGS. | NEW YORK, July 26 (®).—June net operating income of the Atchison, Topeka and Santa Fe Rose to $3,861,- 869 from $3.123,111 in June last year. Gross was $19,764,226 against §18,725,- 314. Net for the half vear jumped to $19,008,076 from $15,384,945 in the first half of 1925. Gross gained nearly $3,000,000, to $109,080,804. BETTER WOOL INQUIRY. | BOSTO\' July 26 (Special).—Reports 1 of a better inquiry for goods in the | New York goods market imparted a more hopeful attitude at the start of | the week in the wool trade here. How ever, the price situation was un- changed, with the lightweight sea- ' son's goods guaranteed against fur- ther downward revision in price. Bet- | ter inquiry for fine wools is develop- ing and a fair weight of quarterblood | continues to move. | - DAIRY PRODUCTS. BALTIMORE, July 28 (Special).— 20a old ducks, 30; Leghorns, ducks, 25a: pair, 30a40. hfll!«—Recolnl! and nearby firsts, 27a28. Butter—Good to fancy creamery, pound, 40a42: prints. 42add; blocks, 41a43: ladles, 32a33: rolls, 28a30; store packed, 27a28; dairy prints, 28a30; process butter, 35a86. ECONOMY IS NEEDED NEW YORK, July States and municipalities is indicated in the greatly increased .expenditures of these smaller political units, says { the New York Trust Co. Since 1019 State and local taxation has increased 76 per cent, while the borrowings of NEW YORK July 26 (#).—Foreign \exchanges steady. Quotations (in cables 486,14: 60-day bills on banks, 4817, France, demand, 2.47; cables, ‘718‘& Ihl!‘ demand, l Demud Belgium, 2.52; German: 23.80: Holland, 40. ll‘ Norw .Swaden. 26. i zerland, 19.35%: Spain. 30; G 1.0!: Poland, 11.25; Cazec! oslo\ald( 2.96; Jugosluvfi 1.77: Austria, 14,127 ; Argentina, 40,43 Tokio, 47.311; Shang- ontreal, 100.15%. iogd mxn1 PRICE INDEX. NEW HAVEN. Conn.. July 26 (Sp: Idm .—Prites, 149: b:::‘chll'sml power, -1 1-10; Crumps, Irving econ: 8.28; cables, | 35a34 State and local governments have in- creased 102 per cent, thus offsetting the steady decline In Federal taxation and Federal indebtedness. —_— BUTT“ISI.DWEL CHICAGO, July 26 (#).—Butter lower; meipu‘ 13,978 tubs; creamery extra 88%: extra gul!. e PRS- LEAD ADVANOES. NEW . YORK, July 26 P).—The American Smejting and Refining Co. today advanced the price of lead from 8.65 to 8.71 cents per pound.: St st e S PRICES ON PARIS BOURSE. PARIR, July 36 (P .—Prices were heavy on the Bourse today. Three pei cent rentes, 52 franes. 35 centimes. | Exchange on Loudon, 190 francs. Five per cent loan, 53 francs 50 cen- In‘\? 26 (#).—Need | spot, no quotation: for économy In the administration of | garlicky, e s, ¥ 873714 nrstb, 35a36; seconds, | LIST 1S STRONGER ON EXCHANGE HERE Thomas W. Brahany Be« comes Active Partner In Crane, Parris & Co. BY EDWARD C. STONE. Stocks and bonds were strong on the Washington Exchange todas when the week's trading opened, ‘Washington Railway and Electric pre. forred leading the market on a trans fer of 85 shares at £9, an advarce «f quarter of a point over the last sale. Potomac Electric Power pre ferred sold at 1083 and the interim certificates at 106. One share of Washington Loan and Trust Co. stock sold ex-dividend at 476 and 30 shares t])sfi Mergenthaler Linotype Lrough: In the bond division Wasalngton Gas 6s opened at 103%. sold off 1 10313 and advanced to 1045 on small fales at the close. Georgetown Goe 5s were out at par, while one small Ello in Capital Traction 3s brought Brahany Becomes Active Partner. Thomas W. Brahany, local invest ment banker, today became an acti partner in the firm of Crans, Varris & Co. Te has just returned to Wash- ington after a three-weel motor trip and visit at his old home in Wiscon- sin. Mr. Brahany, who has been a resident of the National Capttal for about 20 vears, organized the firm of Thomas W. Brahany & Co.. specializ ing in public utility securities. He fe a former newspaper man and was at one time secretary of the Tariff At present he is the local correspondent of H. L. Doherty & Co president of the Lions Club, as well as a member of the Gridiron, Natloral Press, Racquet, Columbia Country and several other clubs. Evans to Attend Conventlon. Joshua Evans, jr., executive vica president. of the District National Bank, is another local banker wha expects to attend the convention of the American Bankers Association at Los Angeles in October. It now ssems probable that about a dozen Washing. ton bankers will take this trip. Tn formation sent out from the associa tlon's headquarters in New York states that the raiiroads ars offering | some most attractive tours over many | different routes. The various lnes are offering round-trip tickets from \\a!hmnon and Richmond at about The convention business pro gram {= now being worked out by President Oscar Wells and F. N Shepherd, executive manager. Building to Be Done in Year. Work will begin on the new addi tion to the Washington Loan & Trust | Co.’s bullding at Ninth and I streets on August 14, and the structure, | which will have a frontage of about 67 feet, is to be completed within a year. The addition will house the offices of the real estate department on the first floor and there will also be space for one store, the Liggett mpany already holding a lease for this space. On the second floor will be located the trust department and also the hookkeeping ~department Much space is required for the bhook keeping department as the work fo the branch at Seventeenth and G streets is also done in the main office. The annex will be so connected with | the present bank to make the street floor offices very pretentious. Dividends Paid in 80 Years. Dividends of more than $183,000, 0, an average of 6.20 per cent a vear on its stock, have been paid | the Pennsylvania Railroad since | Incorporation 80 yvears ago, the New York stock exchange firm of Harvey Fisk & Sons calculates. The systen is described as the -largest of Ame: can enterprises. Total investment in the system stands at close to $2,500 000,000, its closest competitor in this respect being the New York Central The net tangible asset value of the Pennsylvania stock, without taking Into account the- company’'s equity in the undistributed surplus of iis | subsidiaries, is about $87 a share, the firm states. Other Financial Notes. T.ocal delegates to the convention of the American Institute of Banking at Dallas, Tex., are due to reach honie 4 some time loday. They are coming' to New York by boat from New Or- lean - Twenty new theaters are being built by Loew's Inc. The many stock holders in this city will be interested to know that earnings so far this year are ahead of the 1025 figures. The American Security and Trust Co. has published a “service book,” a very attractive booklet aiming to give customers full information regarding {all the bank's activities. Joseph Schiavone, president of the International Exchange Bank, reports that the directors’ campaign to in- crease deposits is proving highly suc cessful. The $1,500,000 Lincoln, Neb., Joint | Stock Land Bank 433 per cent farm loan bonds have been oversubscribed. | subscribed. GRAIN AND PRODUCE. BALTIMORE, July 26 (Spécial).—~ Potatoes — Barrel, 1.00a3.25; bushel, 1.00a1.23; sweet potaioes. barrel, 1.00 a14.00 . bushel, 73a1.00; beets, ; 100, 2 i , 100, 2.00a4.00 varvots, 3.0 5 cell crate, 3.0085.00 . dozen, 10a35: cucum hers, basket, 23a35; eggplants, crate, 00a4.50; lettuce, box, beans, bushel, 1.00a: el, peppers, | basket, 100, 1.50a2.00; 1.25a1.50: squash, tomatoes, ripe, crate, bushel, 8al4; honey pound, Sals; peaches, bush- 20a30; 1569 cases; native | P ‘)Rl reen, 50al.00. dozen, oftered at | U5n1o: ¥ Barrel, 1.00a2.50; 4001.00: blackberries, qua cantaloupes, " crate, T5a; dews, 60a2.00; Lhr'rrle! currants, ", el, 1.00a2.00; “Huckiciberrien, - quart, 1%a20; watermelons, 100, 15.00a40.00. Selling Prices at Noon. Wheat—No. 2 red Winter, domestic, No. 2 red Winter, Apples spot, 1.41. Bales—Cargoes on grade at whaf. Ne. 2 red Winter, garlicky, 1.40% % v Bag lots of nearby wharf seld at a range of 1.10 to 1.30 Corn—Donestic, No. 2 vellow. 80a 91 per bushel in carload iots; No. spot, expert, 85; No. 8, spot, export, £3. Sale of bag lot of white at wharf at 90. Oats—> 52 per bushel; 3, 51 nex huahel nominal. earby, old, -.90a1.00 per bushel; No. 2 export, spot, no quota- tions. ‘Hay—Receipts for today, 60 tons. The inquiry for hay is confined al- most wholly to the better grals of timothy, cholce light clover riixed and No. 1 clover, of which soris there is no oversupply offering. Low- grade and inferfor hay is dull lnd hard to move. Quotations, per ton, today--Neo. 2 ummhy‘ 26.00a26.50: No. 1 timethy, ! 93.00024.00; No. 1 light elover mixed, 5.00a25.40: No, 2 light clover mixed, | : No, 1 clover mixad, 24.00a . 2 clover, 20.00a71.00. - | Straw--No. 1 wheat, 13.50a1%.00; | 1 oat, ‘Thé public laundry at Puesto € times. The aollnr was quoted at 3% only tilla, Honduras, is the 1hat.cily, having an '