Evening Star Newspaper, July 28, 1926, Page 24

2% * » FINANCIAL. STOCKS STRONGER IN TRADING TODAY Steel and Motors Reflect Eara’ngs Reports in Rapid Advances. BY STUART P. WE YORK. July poriant developmer night news. an elfect was concerned ihe earnings statements of the United States Steel Corporation and General Motors Corporation. In each instance the result of the second quarter v erations exceeded expectations of the sanguine, and it was not surpri that the recovery in the stock market which set in at the cutset of the week should have gained momentum It was sometime xfter the opening Lefore Steel common made Its .I‘\" pearance on the tape. Then onta Vlock of 25.000 shares, the price opened 3 4. after which jt was carried across 141, against yesterday’s final of 140. No Surprise Occasioned. Declaration of only the vegular quarterlv dividend at this tima gc casioned no surprise in Wall Stre ‘The best opinion was that if any dis- iribution of part ¢f the corporation 10 be made to stock- ction will come before Two the im over, having upon speculative sentiment were publications of 28. in so far a as October. G veport for first six revealed net earn a share on the the largest net earn of the organi: .0 with ) operatic ings equal to common stock ings in the history tion. This compared share in the same period tieneral Motors went forwar establishing a new high record when it crossed 174 for a gain of almost 3 points on the day. Its strength had « sympathetic etfect upon the market for other motor shares, all of which \were in better demand at somewhat higher prices. The gain h Mack Trucks extended elose (o 2 points. Hudson got up more than a point at one time. White, Dodge Brothers and Pierce Arrow were up a half point to a poini be- fore the demand subsided. Profit taking set in in the later trading and was sufficient enough to carry prices down somewhat from the high level. but most of the improvement was maintained Specialties Bid Up. he usual number of industrial specialties were brought up to_the front and in several instances bid up shafply. Their strength, however, Aouin failed to have any material ef- fect upon the main body of stocks There were many parts of the list which continued to be neglected, or at best moved forward only moderate ly. The demand for Texns ‘(’;;:}f shur kept on, carrying the o e high level, and Freeport Texas joined in to some eu_enL Aside from talk of a recapitalization of the financial structure of the former com- ;. about which so much has been d recently. many were expecting sort of an extra distribution in the near future. ; New high records also were esiabe lishea in _Butterick, Consolid (igar and Loew, while Arnold Con- stable, Davison Chemical, Commer- efs] Solvents B and Remirgton were bla up sharply. The coppers. uider leadership of American Smelting and Anaconda, were reflecting the im provement which has taken place In the market for the copper metal. but .some doubt was expressed as to whether the turn would be a lasting one N — Tarkets at a Glance iR RSEAT L NEW YOR! strong: Gener: A high above 176. B issues active. " )l—oll'm[l,'c:\ > mixed; francs slightly low Joffee higher: bullish crop reports, Sugar easy: increased spot offerings. Coffee advanced:; steadier ‘Brazilian markets. CHICAGO.—Wheat easy: lower tem- peratures nada. Corn lower; bene- ficial shower: Cattle dull: liberal sup- plies. Hogs lower FEDERAL LAND BANK BONDS. (Quotad by Alex. Brown & Sons eady: rail exchange Coffee NEW YORK, Jul elated Gas and Electr] ord gross earnings of $26, the 12 months ended May 31, an in- crease of $18,076,343 over the preced- we vear, the figures being earnings ot various properties sinue dates icquisition. Surplus aft all charges and preterred dividends was $2,048,783, available for cl A vriori stock., against $577,026 the vear before. TOURIST TRADE LARGE. DETROIT. July 28 (Speclal).—It is imated Michigan's tourist business )is year will amount to $100,000,000. ‘This will make it the ‘biggest’ year in the history of the State. Big Summer resort developments are under way \long Lake Michigan and on sites hordering interior lakes. ) METAL MARKET. NEW YORK, July 28 (#).—Copper firm; electrolytic 143 Tin steady e spot_and nearby. 75; futures, 63.37. Iron stead ices unchanged. Lead stead: spot 8.75. Zinc steady: East St Louis spot and futures, T7.50. Antimony spot, 16.00 FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) pes Nominial Selling checis \don, r pound ntreal dollar Viepna, crown.. . Hudapest. crown ‘cague, crown. zloty. .. . ‘nhagen. (rown. Crown. . ... sfockholm. crown NEW YORK, July 28 (#).—Foreign exchanges easy; quotations {in cents): Great Britain, demand 485 11-16, cables 486%: 60-day bills on banks, 481%. France, demand, 2.3812; cables, 2,40. Ttaly, demand, 3.22 3.24 Demand: Belgium, 2.4 v 23.79; Holland, 40.15; Norway, 21.90. Sweden, 26.73; Denmark, 26.4i zerland, 19.35; Spain, 15.32 1.113: Poland, 11.25; Czechoslovakia, 2.96; Jugoslavia, 1.77; Austria, 14.123% Rumania, .45; Argentina, 40.50; Brazil, 15.37%;8 Tokio, 47.35; Shanghai, 70.98 MR ng | spot and futures, | | Low. Close. 47 13% 8l 121 9 128% 90 30 17% Open 46 12% Abralim&Straus. Adv. Rumley. Ahumada (v1).. Alr Reductn (+5) Ajax Rubber. ... Alled Chem (4). Alils Chalm () Amerada (2).... Am Agricul Chm Am Aeri Ch pf Am Bank N. 1. \m DReet Sugar. . \m Bosch. . Am Br Bov E1(2) er Bo pf (7) m Can (2)..... Am Can pf (1) Am Car&Fdy (8) Am C&F pf (1) Am Chain A (2). Am Chicle /3) Am & Ior Pow. . Am Ho P (2.40). Am Ice (+10) Am Tce pf (6). Am Internatl. AmLaFr (1)... Am Locomot (8) Am T.oco pf (7). Am Ma & Fy pf 7 Am Metals (4).. Am Po&Lt (g1). Am Radlator (4) Am Safetv R (3) Am Ship & Com. Am Sm & Ref (71 Am S & R pf (T) { Am Snuff (12). Am St Fdys (3). Am Suzar (5)... Am Sugar pf (T) Am Sumat A cfs Am Tel & Ca (5) Am Tel & Tel(9) A Tel& Teiegrts Am T)bacco (8) Am Tobac B (8) . Am Tobac pf (6) Am Wa Wo ¢1.20 Am Woolen. .. Am Wool of (7). Am Writ Pa pf. . Am Writ Pa ctfs Anaconda (3).. Armour of TII(A) | Armonr of TI(B) ArmourDel pf(7; Arnotd Con (n). Asso Dry G(23) Asso Ol (12.40). Atchison (7) Atchison pf (5). Ati C Line(4913) Atl Guif & WI.. Atlantic Refing.. Atlas Powdr (4). Atlas Tack...... Austin-Nichol Austin Nic pf(7) Baldwin L (1) Ralto & Ohlo Bang & Ar (3) Rarnsdall A (2). Beech-Nut (13). Belding Bros(3). { Bethlehem St Reth St1 pf (7) Bloomingdale. Botany A (4) Briggs Mfg (3). Bkin-Mn Tr (4). | Bk-Man T pf(8). BkIn Un G(111). Brown Shee (2). Brunswick Balk. Rrunswick Ter. . Burns Bro (10).. Burns Br B (2). Burroughs (t4). Bush Terminal.. Bush Ter de (7). Butte Cop (500). Butte&Super(2) Butterick Calif Packingz(8) Calif rol(2).. CalumeéRH(1%). Can Paclfic (10) Case Threshini | Case Thr pt (7). { Cent Leather.... Cent Leather pf. Cerre De P (4).. Certain-Teed (4) Chand.Cle pf(4). Ches & Oh (112). Chi & Alton. Chi & Alton pf. Chi Great West. Chl Gr West pt.. Chi Mil&StP.. Chi Mil & St P pt € Mil & St P ctfs C MII&SP pf ofs | Chi & Nwa (4).. Chi & Nw pf (7). ChiPneuT (5).. ! chiR1& Pac |CRI&Ppf (6). CRI&PDL (1. Chila Cop (2%) - Chrysler Corp(3) | Chrysier pfA(8) | *Ciev & Pitt(3%) Coca-Cola (7). | Collins & Atkmn. Collins&Aik pf 7. Col Fuel & Iron. | Colo Southern. .. Col Gas & El (5) Com Cred (2) Com Solv B Congoleum-N. ... Congress Cgr(3) Consol Cigar. ... Con Clgars pf(7) Consol Distribut Consol Gas (5).. Consol Textil Cont Can (18) . Cont Mot (80c).. | Corn Prod(t2%) | Corn Prod pf (7). Cructble Stl (5) . Cuba Cane Sugar Cuba Cane Su pf Cuba Co (4)--.. | Cuba Co rights Cuban-Am S (2). Cuban-Dom Sug. Cudahy Pke (7). | Davison Chem. . Deere&Co pf (1) Del L & Wn (17) | DRG Wst pt. ! Devoe&Ra(2.40 Dodge Bros C1 A. Dodge pf (7).... Dome Mines (2). Douglas Pec (1). { Dupont (119). .. | Dupont deb (6). Eisenlohr & Bro. Eleetric Boat. .. Elec Power & Lt Elec Refrig(f2). Elec Sto Bat(16) End-John (5)... Equitable pf (7) Erie R R. Eureka Vac (8. { Famous P1 (J2). | Famous pf | FedLight(s Fed Min & Smolt Fed Min pt (T).. Fisk Rubber. { FiskR 15t pt 8(7. Flelschmn(t2%) Foundation (8) Fox Film A (4) Freeport-Texas. Gabriel A(14%). Gen Am Tnk (3) Gen Asphalt.... 68 Gen Bakg pf (8). 112k Gen Cigars (4).. 50% Gen Cig deb (7). 118% Gen Eles (H3).. 850% Gen Elec (112).. 87% Gen Eleo 5p(600) 11% Gen Motors (118) 178 Gen Mot deb (6). 108 Gen Mot pt (7). . 118 Gen Outdr Ad(2) 32 Gen Outdr A (4). BS% Gen Ry Sig 4% . Gimbel Bros. Gildden (2). Gold Dust. Goodrich Ru (4) 48 48% 48 48% Goodyear pf (7). 106 1064 105% 105% THE Goodyr pr pf(8). Gothm S H (235) | Gotham S H new | Gotham pf (7).. | Granby Consol. . { Grt North pf (5) | Grt Wstn Su (8) | Green Canan. ... Gulf Mo & Nor. . Gulf States 8 (5) | Hartman. . Hoe & Co A. Howe Sound (3) HudsonMan (2% Hudson Mo(3%) Hupp Mot (1)... {1linots Cen (7). [1l Cent pf (6).. | Indep Oi1 (1). .. Indian Reflning. Indlan Refgotfs. Ingersoll R (t4) Inland St (2%). Inspiration (2).. Interurb Rap Tr. Intcongl Rub(1). Internat Agri. .. Int Cement (4).. Int Cement rts. . Int Cement pf(7) Int Com Eng (2) Int Harvstr(8).. IntMtch pt(3.30) Int Mer Mar pf. . Int Nickel (2)... Int Paper (2). Int Ry CA pf (5) nt Tel & Tel (8) Int T&Teleg rts. Intertype (t13%) Jewel Tea. Jordon Mot Kan City South. KayserJ (3)..., Kennecott (4). .. Kevstone T & R. Rinney pf (8)... Kresge S8(1.20). iKresge Dept 8. . Kresge DS pf(8) Lago Ol! & Tran. Lambert (3%).. Lee Tire & Rub. Lehigh Val(3%) Leh&i™Mnk stf(3) Life Sav (1.60).. Lig& M B (14).. Lima Loco (4) Loew’s Ine (2) e T Long Bell A Loose Wiles, Lortllard(3). Loutsiana O11. LoutsGasA (1.76) Lou&Nash(16%) Ludlum Steel (2) McCrory B 15.60. Mack Trucks (6) Mack T 1st (7).. Macy HR & Co. Macy pf (7). Manati. ... Manati Sugar pf. Man El Sup(51;) Maracaibo Ofl. .. Market St 2d pf. Market St prior. Marland Ofl (4). | Marlin Rock (2). Martin-Pary(2). Mathieson (4).. May Dept St (5). Maytag Co (3).. Mid-Continent Middle States. .. Mic States Ofl ot Midland pf(+10). Mis Kan & Tex.. Mo K & T pf (6). Missour! Pacific. Missour! Pae pf. Montana Pow(5) Montgom Ward. Moon Mot (2)... Mors & Fsx(3%) Mothr Lode(760) Motor Met(8.60) Motor Whi (2).. Murray Body... | Nash Mot (13).. Nat Acme (sta) . Nat Biscult 143 Nat Cash Reg(8) Nat Cloak & Sult Nat Datry (3)... Nat Distiller Nat Enamel & S. Nat Lead (8)... Nat Po& Lt(400) Nevada Cop (1). NY Air Brake(2) N Y Airbrake rts N Y Canners C2. NY Central (7).. NY Chi&StL(11) NYCA&SLL pf () NY Dock pf (5 NY NH & Hart. . NY On & West. . Norfk & Wn (18) North A (B3.40). North Am pf(3). North Pac (5)... Norwalk (80c).. Omnibus....... Orpheum Cir(2) Otis Elevator (8) Otis Steel....... Owens Bot (14). Packard (12.90). Palge Mot(1.30). Pan-Am (8 ; Pan-Am B (8). Pan.AmWnB(3) Panhandle. ..... Park Utah (60c) Pathe Ex (c3)... Penick & Ford Penn C & Coke Pennsy RR (3). Penn-Seab Steel. Peoples Gas (8). PhtlaCo (4).... | Phila Co pf (3).. Phlla& RC&I. Phillips Pet (3). Pierce-Arrow. . . Plerce-Ar pf (8) Prod & Refiners. Pub Ser NJ (6). Pullman Co (8).. Punta Aleg Sug. Pure Of1 (1). Pure Oll pf (8).. Radio Corp of A. ‘Ray Cons Cop (1. Reading (4).... Remington Type Replogle Steel. Rep Ir & St1 (4 Rep I &S pf (7). Reynolds Spngt Rey Tobac B(5). Robt Rels & Co. . Robt Rels 1st pf. %% | Rossia Ins (6). . | Royal D(a1.339)- Rutland pf. . Safety Cable (4) St Jaseph L(13). StL & SanFr (7). St L Southwest. St L. Swn pf (5). Savage Arms (4) Schuite (§8) Seaboard Alr Seabd Alr L pf.. Seagrave(el.20). Sears-R 0 (2%). Seneca Copper) . Shell Tra a%8%e. Shell Un (1.40).. Shubert Theatre Simmons(12.26). | Stmms Pet (. Stnclair 011 Sloss-Shf pf (7). South Port S (6) Sou Cal Edison. . Sou Dairies A(4] Southern Ry (7). South Ry pf (5). EVENING STAR, WASHINGTON, D. C. NEW YORK STOCK EXCHANGE Received by Private Wire Direct te The Star Office Open. 107% 1 49% 23% 122% 124% 23% 11 10 92% 41% 264 45 17% 13% 56% ] 104% 54 .1 Magma Cop (3). 122% 124% 24 1% 10 92% 41% 25% 46% Low. Close. | 28% 122% 1242 24 111% 108% | TONEIS IMPROVED IN'BOND MARKET Upward Trend More Pro- nounced Today—Treasury Issues Stronger. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, July 28.—The im- provement which first appeared In the bond market on yesterday be- came more pronounced today. It was apparent that the recent reaction had measured the change in the money situation, brought about by the de- mand for time funds, and that inves- tors, both individual and institutional, were satisfied that bonds had been stabilized at current levels for the present, at least. In the United States Government list demands for the Treasury issues was a little better than for the Lib- ertys, but the latter held the gains of the day before. There was also lar- ger inquiry for such typical bonds as Rock Island refunding 4s, above 90 again; Wabash 5l4s, above 103, and Kansas City Terminal 4s. Among the high-yielding ralls the leaders were Chicago-Great Western 4s; Missouri-Kansas-Texas adjust- ments, which were quite strong after a long period of quiet; Seaboard Air Line adjustments and St. Louis-San Francisco income 6s. The last named gained half point on what seemed to be confident buying. Chesapeake and Ohio convertible 5s, ony which the con- version privilege expires September 1, touched 140. The active utility con- vertible bond agnin was PErooklyn Union Gas 5%s. Traction issues were generally steady. Hudson and Manhattan obli- gations met a better demand. West Virginia Coal and Coke 6s continued their recovery and at 78 were three points on the day. Trading in the ‘Warner Sugar bonds, which were so weak on Tuesday, quleted down. Forelgn descriptions marked time. There was special buying in Rhinelbe 7s, carrying the price above 105 on fairly large transactions. The Bel- glan high coupon issues were strong for a time. Public offering is expected shortly by Hoagland, Allum & Co., and Hal- sey, Stuart & Co. o fa new issue of $3,000,000 first mortgage 6 per cent real estate bonds of the General Neoessities Corporation. group headed by Howe, Snow & Bertles has purchased a new issue of $14,600,000 bonds of Central Power and Light, secured by first mortgage carrying a 6 per cent coupon and due 1955‘.( The bonds will be offered this weel. SURPLUS IS LARGER. NEW YORK, July 28 ().—June surplus of the Public Service Corpora- tion of New Jersey rose to $1,094,331 from $726,814 in June last year and for the year ended June 30 to $12, 791,677 from $7,987,500 the vear be- fore. The year's gross gained more than $10,000,000, to $100,983,856. POTATO TRADING FAIR. CHICAGO, July 28 (#).—Potatoes— Recelpts, 71 cars; total United States shipments, 476; on track, 198; trading just fair; market barely steady on sacks, stronger on barrels. Kansas and Missourl sacked Cobblers, 1.75a 1.85; ordinary, 1.50a1.65; Virginia, bar- rel, Cobblers, 3.86a4.00. — PRICE FORCED DOWN. NEW YORK, July 28 (#).—Compe- tition for control of the German oxy- gen market has reduced prices 50 per cent, says a wireless dispatch fro Berlin to the Ofl Paint and Drug Re- porter. Monopolization of the market by the Greisheim Elektron-Linde- group is being opposed by the so- called independent oxygen works. The price has been forced down to 0.40 reichsmark, a figure said to be below the manufacturers’ actual cost. StaOINJ (1).. Std Oil NJ pf(7). Sterling Pro (5). Stewart War (6) Stromberg (8) Studebaker (5). Superior Oil Sweets of Amer. Symington...... Tenn Copper (1) Texas Co (3) Tex Guif 8 (1 Tex & Pacific. .. Tex & PacC & O Third Avenue Thompson (3.60) Tide Water(1%) Tide W O11 pf(5) Timken (t4).... Tobac Prod (7). Transcont Ofl. Transue & W (2 Un Carbide (8) .. Un Ofl (2).. Un Pacific (10). Un Pacific pf(4). Utd Alloy (2). Utd Clgar S(c2). Utd Drug (8)... UtdDrg 18t (3%) United Frult (4) U S CIP&F(10) USCIPDL (7). U S Distributing US Hoffman $3% U 8 1nd Alcohol.. U S Realty (4 U 8 Rubber. U S Rub 1st (3). U S Smelt (3%). U S Steel (7)-... L U S Steel pf (7). Universal Pipe. . Utl P& Lt A (e2) vanadium (3)... vick Chemical Va-Caro Ch(n).. Va-CarCh 6% pf va-Car Ch pf(7) Vivaudou....... Wabash. .. Wabash pf A(5). waldort (1%) walworth (1)... Ward Baking B. ward Bak pf (7) Warner Bros. ... Weber (4)...... West Elec pf (7) west Maryland. West Pacific. . West Union (8). West A Br(16%) Westinghse (4). ‘Weston Elec. ... Weston A (2) . Wheel & L Erl White Eagle (2) White Mot (4).. willys-Overland willys 0d pf(7). Wilson & Co Wilson A (new). WoolwthF W (15] Wright Aero (1) Wrig Wm (14).. Yel T&C(76¢)... Yellow T&C rts. Yel Tr&C pf(7). 100% 100%" Youngstown (4) 81k * 82% rates as given in the above Dividend B e terly O Tearly deciurat < ierwige hoted. exira or svecial v artly ira. = D e stock. mfim*fi: 2 palh 44 4% 116% 116% 87 87 BYU uw 3% 65 lar rate. 1 vabie 238 % ausriery. A8 A banking | | | W ED) ON NEW YORK (Bales_are in $1.000.) Sal Low. 1 1 102 8 Lib 24 4 %s. 1 Tdb3d 4%s. 1 1019 102 18 High. 016 00 ¢ 101 100 102 100 101 102 101 00 25 0117 DAY, JULY 28 1926. INDS srock excaance Received by Private Wire Direct to The Star Office. UNITED STATES. ! Clone. 2 1012 4 1004 4 1028 24 100 25 6 1019 16 102 16 14 101 14 103 80 103 28 108 30 107 29 107 26 107272 FOREIGN. Sales. Hich. Low. Close. Austria 7s. o Rank of Chile 6% 8 Bank of Japan 6s. . Bolivia 8s. Bordeaux 6s. . Canada 6s 1931 Canaéa 5s 1952. Canads 5% 19! Chile 7s 1943 Chile g Chile 8s 1941. . Con Pow Japan 7s. Copenhagen 5%s. . Cuba 534s...... Czecho T%s rcts. Czecho 8s 1951 Czecho 962 Danish Munic 8s A. Daniah Munie 88 B. Denmark 6s....... DET6%s Mch 53, DE In5%s Nov 68, Dutch Enst I 68 47. Dutch Fast T 6s 62. Finland s £ 85 45 Finland 7s. . Japanese 6148. Lyon#s...... Marsetlle 8s. . Mexico 45 04 asntd. Mexico 45 10 asntd Mexico s assented Montevidio 7 Netherlands Nord 6%s Norway b%s Norway 6s 1943 Norway 6s 1944 Orlant Dev deb 6: Paris.Ly-Med 65 Paris-Ly Med 7s Paris Orleans 78 Peru 7%s Poland § Porto Alegre 5. Prague 74s. Queensiand 63 Queensland 7s. Rhinelbe Un 7s. Rio de Jan ¥s 1948. Rio de Jan 88 47... Sao Paulo City 8s.. Sao Paulo 83 1936. . Sao Paulo 1950 Saxon (PW) 78 Selne 78 42.. Serbs Crot Slo Soissons 6s. . Sweden 6%s ct Swiss 5155 1946 | Swiss Confed 8s. Toho Elec Power 78 | Tokio 5s...... Utd Kingm 5% 2! Utd Kingm 538 37. Utd Steam Copen 6¢ Uruguay 8s. 32 1 Netherlands 6s 72. & OB 1 89% 89% 99 99 95% 95% 107% 107% 101% 101% 85 85 81% 95 107 107 104% 104% 102 102 104% 104% 102 102 100% 101% 100% 100% 108% 108% 98 96% 99% 09% 101% 102 90% 99% 103% 108% 102% 102% 1t -1 110% 110% 103% 104 103% 103% 108% 108% 105% 105% 105% 106 89% 89% 93% 98% 89 89 29% 90% 94% 96% 101% 101% 91% 1% 104% 105 99% 09% 101% 101% 101% 101% 104 104 10874 109 8% 78% % 97N 102 109% MISCELLANEOUS. Ajax Rubber 8s.... Am Agri Chem T%s Am Smit& R 1st 5s Am Smit & R 6 Am Sugar ref Am Water Wkas 58 Anaconda 1st 6 Anaconda cv db 7s. Andes Cop 7s rets. . Armour&Co 4%srf Armour Del 5% Associated Oll 6 Atlantic Refin 5s Barnsdall 6s ctrs. Beth Steei rf 51 Beth Steel 5%9 53. Bkiyn Union 5%s. . Bush T Bldg 5s 60. Cen Leath 6s 45 cfs Callf Peta 6%s.... Chile Copper 6s 32. Col Gas & ¥l 5s.... Col Gas & Fl 6s sta. Consumers Pow Cuba Cane cv 78 Cuba Cane cv 8s. Cuban Am Sug 8 Denver Gas 5s. Det Edison 5s 40 Det Edison ref 6 Dodge wi6s...... DuqL&P5%s49. Est Cuba Sug 7%s. Empire G & F 7%s. Goodrich 6% Good year Goodyear 85 1941.. Humble O & R5%# Ilinois Bell 1st 5s. Tilinols Steel 4%8.. Indfana Steel 68 int Mer Marin Int Paper 58 47. Int Paper 6s. Int T&T6%S Kan CP&L 58 A 52. Kan G & El 68 52. Kelly-Spring 8 Lackawa S 5s 60 Toulsv G & E 68 63 ! Manat! Sugar sf 7% Mid-Con 67%840... Midvale Steel 5s. Nor States Pow 68 Nor States Pow 6s. Pac Gas & E168.7 PacT&T 1st b8 PacT & T bs 53. Fan-Amer Peote 68, Peoples Gas 5s.... Phila Co 5%8 38 Phila Co rf 6s A, Phila&RAC&I Public Service 6s. . P Serv Gas 5%8 59, Stnclair O11 7 Sin Crude O11 Sin Pipe Linets... Southwest Bell bs.. 2 [ 5 1 108% 104'% 100% 108% 1044 98U 1025 1 Ar et e o - R R e o Buand ~Impe-mReo oneronctostaaan- ael 1 S amnvmedsQuano~an—~ 2 3 1 a E —. RoSmmane~usSSus ~onwdlnaama 183.91% 2°402% 1084 104% 100% 108 1037 | Sug Est Odtent 7 ‘Tenn Elec Pow . Toledo Edn 1st 7s.. US Rublstrfbs.. U S Rub T%s U S Steel st 58 Utah Pow & Lt Vertlentas Sug Warner Sug 78 89. . Warner Sug 78 41.. West Elec b Westinghouse 7s. Willys Ov 635 33. Wilson & Co 18t 6s. Winchester A 7%s. Youngstn 8 & T 6s. RBklyn Manhat Buff R & Pitt 4% Can Nat 434830 Canada South bs. Canad North 8% Canad North 78 Canad Pac deb 4s. . Car Clinch & O Car Clinch& O 6s.. Cent Pac 1st 55 90. Ches &£ O cv 4%s Ches & O gn 4%s Ches & cv bs. . Chi& Elgn6s Chi Great West 4s. CM&StPevith CM&StPenaks CM&St Prid%s.. CM&StPevh CM&StPés. Chi & N'W ref 68, Ch1 & NW 8%s Chi & NW 7 Chi Rys § ChiRI&Prfds ChITH&SESs Chi Unfon Sta 5s. .. Chi Union Sta bs 44 Chi & W Ind cn 4 Del & Hud 1st rr as Del & Hud cv 5n 35. Den & Rio G en 4 D Rio G West 6s Erfe 1st cons 4s Erie gen 4s Erleconv4s A. Erieconv 4s B. Frie Genessee FlaEC5s74.. Grand Trunk 7s. Great North 58 Great North 54s.. Gr North gen7s. .. Hocking Val 4%s. . 111 Central ref 4s. 1] Central 534s. 11-C-C StL&NO bs Int Rap Tran 5: Int Rap Tran 6 Int Rap Tran 7s. .. Tnt & G Nor 1=t 6s. Int & G Nor ad 6x Kan City Ft & 4s. Kansas Clty S 3a Kan City § b8 Kan City Term 4 Lake Shore 4228 .. Lake Shore 4s 31.. Louis & N unf 4s L & N 438 2003. Loufs & Nash 53s. Man Ry 1st 90. . Market St 75 40.... M1 EIRy & L 68 MK&T 1stds . MK & T adj 5s. MK&TprinbsA. MK&T6sC Mo Pacific gen 4s. Mo Pac 55 1965 Mo Pac 6s 49 D. Mo Pac 6s 55 B. Mont Trm ref 55 41 Nassau E Ry 43 57. New Or Term s NOTex&M5sB. NOT&M5% NYCrfim4%s13 NYCentribs.... NYChi&StL 5%sA. YChI&StL 5%8B. NYOutW istds.. N Y Rys 6s 65. NY W& Bos4%s Norfolk & W cn Norfolk & W cv Northern Pac 48 Nor Pac 418 2047. Northern Pac 6s D. Northern Pacr | 88 Ore Short L rfs 4s. Ore Short Licn 5s. . Ore Wash 1st rf 4s. Pennsyl con 4% Pennsyl gen b8, Pennsyl bs Pennsyl 6%s Pennsyl gold 7 Peoria & E inc 4., Pere Marq 1st s, Port RL & P s 42, Reading gen 4% StL&SFpl4sA, StL&SFprin StL&SF 5%s St L& SF adj 6s.. StL&SFincés... StL&SFplésCy/. StLSWistds.... St L. S W con 4s 33, St P & KCShL 4%. | Seab All Fla 6s. { Sou Pac 43 29. Sou Pactfic clt 4 Sou racine rer Texas & Pacific 1st Third Ave ref Third Ave adj Union Pac 1st 4s Union Pac cv Virginia Ry 1st 6s. VaRy & P §s. Wabash 1st 6s W 1064 | Western Pacific 4 108 1o Wilkes & E 1st 61 . 31 <11 .13 72 Tnt Rap Tr 68 stpd. 12 Sales. Hixh. 88! 2 12 104% 6 108% 29 98% 2 106% 9 104% RAILROAD. .7 92 1 ChiB&QRrn4sbs. 1 107% Low. Clgse. 98 m 104% 104% 108 108% 93% 106% 106% 6% 28 Bo% 02 108 108% 100% 96% 91% 9% 105 117% 105 117% 115 115% 3% “84% 101% 102 107% 107% 10C% B34 53% 2% 524 102% 102% 102'% 102% 111% 111% 107% 107% W% 71 °71% 10 91% 22 111% 15 90% 6 95% 69% 9% 14 76 4 3% 2 76 18 50y 11 106% .50 75 1 92 3 72% 39 974 5 108 2 6% 21 97% 34 971w 6 BCly . 187 93 8 101% 1R 108% 39 78% 13 83 2 105% - 27 105% 2 574 89% 90 7 867 86% 104% 101% 101% 101% 854 85% 102% 102Y% 103 103 95% 95% 109% 109% 9T% 9% 91% 91% 1% 111% 0 80 96% 984% 60 69% 79% "79% 1% T1% 5% 5% To% T6% 110 110 88% 99 1154 115% 108% 100% 105% 106% 112% 1134% 964 964 6% 05% 31 JB1% 91% 91 103 103% 101 101% 74 T4% 94 984 108 9TH 9T% 97 9Tu 86% 864 924 98 101% 101% 105 103w 2% A% 9T% 98% 105% 105% 105% 105% 9% 97Ty 59% 60 85 103% 104% 103% 108% 4 103% 163% ' 101% 101 103% 108% T4 Tal 1034 108% 3% T34 27% 2% V% 1% 92 92 151 877% 884 924 92% 102 102 110% 1115 97% 981y 106% 105% 865 10435 104% 100% 100% 1121 1121 107% 107% 4% 41y 102 102% 92 92 7% 97 ‘. 96% 96% 93% 937 % 101% 101% 86 86 93 93 894" 89% 104% 104% Y 80 1 Tol Tr L&P 5%s 30 | “ | Whel & LErf 4%s FINANC RAINS IN NORTHWEST SEND WHEAT DOWN July Displgys Strength as Saturday Is Last Day for Deliveries. Corn Easy. By the Associsted Pross. CHICAGO, ! cooler weather in Canada gave a gen- | eral downward trend to wheat prices of Trade session. With Saturday the tracts, however, July wheat displayed | relative strength. Opening 'z to 1 down, wheat fluctuated near to the initial range. Corn, oats and provi- sions were easy, corn starting 4 to| % of and later declining further. | ‘Absence of selling pressure today on the July delivery of wheat here was partly accounted for by unexpected scantiness of receipts of new wheat in Chicago. Arrivals here today totaled | only 266 cars, as against 403 cars a | year ago. On the other hand, today's | receipts at Kansas City—843 cars— ‘were more than double those of a year back. Continued ready absorption of wheat receipts at primary markets in this country is taken in some quarters as positive evidence of an immense do- mestic demand for wheat and flour. Opinion today, though, appeared to be | divided as to whether the urgency of | the demand will outlast the heavy | run of receipts in the Southwest. | Chicago millers absented themselves from the market today, and gave as a reason the widening difference here | between July and September quota- tions. qule. v September December CORN July . September . Decamber OATS— July .. September December RYE— 41y s 4615 1.04% 10655 1101 July . Septembes December | BONDHOLDERS ACQUIRE $50,000 Paid for Cumberland and Westernport Railway at Trustees’ Sale—Has Bus Service. CUMBERLAND, Md., July 28 (Spe. cial).—The property, franchise and equipment of the Cumberland and Westernport Electric Railway Co. was sold at a trustees’ sale today to Judge Richard H. Koch, Pottsville, Pa.; Paul L. Hitchins, Frostburg, and F. Brooke Whiting, this city, a committee of the bondholders, for $50,000. The property. which had been in the hands of recelver, was offered for sale follow- ing default in payment of the princi- pal and interest of $660,000 in bonds, which had fallen due. It is reported to be the purpose of the purchasing bondholders to reor- ganize and continue operation of the road with electric train service be tween Curaberland and Frostburg and bus service between Frostburg and Westernport. The road traverses the entire Georges Creek Valley, touch- ing practically all the mining towns. The line was first offered in four parcels, the three sections of the road bringing a total of $39.000, while a number of tracts, buildings and the| Cumberland freight statfon brought | $10,000, making $49,000 for the entire property. GRAIN AND PRODUCE. BALTIMORE, July 28 (Special). Potatoes, barrel, 1.00a3.25; bushel, 1.00 al.25. Sweet potatoes, barrel, 5.00a 8.50. Beans, bushel, 1.00a1.15, Beets, 100, 2.00a3.00. Cabbage, 100, 2.00a 4.00. Carrots, 100, 3.00a5.00. Celery, crate, 2.50a4.00. Corn, dozen, .08a.20. Cucumbers, basket, .202.30. Egg- plants, crate, 2.00a3.50. Lettuce, box, 50a1.25. Lima beans, bushel, 2.00a |3.00. Onions, bushel, .75a1.25. Peas, shel, 1.50a1.75. Peppers, bushel, 1.2521.50. Squash, basket, .20a.30. To- matoes, ripe, crate, .50a.75. Apples, barrel, 1.00a2.; a1.00. Blackberries, quart, Cantaloupes, crate, 1.40a2.00. dews, basket, .75a1.25. Cherries, bas- ket, .50a.75. Currants, quart, .20a.25. Peaches, bushel, a2 Huckle- berries, quart, .15a.20. Watermelons, 100, 15.00 a4d0. Selling Prices at Noon. red Winter, domestic, red Winter, garlicky, ‘Wheat- spot, 1.50; spot, 1.40. Sales—Bag lots of nearby at wharf sold at a range of 1.22 to 1.30. Corn-—Domestic, No. 2 yellow, 91a 92 per bushel in carload lots; No. 2, spot, export, 87; No. 3, spot, export, 85. Oats—No. 2, 521 per bushel; No. 3, 511 per bushel, nominal. Nearby, old, 90a1.00 per No. 2 export, spot, no quota- 5 Hay—-Recelpts for today, 36 tons. The Inquiry for hay is confined al- most wholly to the better grades of timothy, choice light clover mixed and No. 1 clover, of which sorts there is no oversupply offering. Low- grade and inferior hay is dull and hard to move. Quotations, per ton, today—No. 2 timothy, 26.00a26.50; No. 3 timothy, : No. 1 light clover mixed, 00a25.40; No. 2 light clover mixed, No. 1 clover mixed, 24.00a 2 clover, 20.00a21.00. 0. 1 wheat, 13.50214.00; No. 1 oat, 15.00a15.50. (WREREE Y CHICAGO LIVE STOCK MARKE CHICAGO, July 28 (United States Department of Agriculture).—Hogs— Receipts, 17,000 head; mostly 15 to 25 lower than best prices yesterday; or 10 to 15 lower than average; top, 13.75; paid for 140 to 180 pound averages; bulk, desirable 160 to 210 pound weight, 13.40a13.65; most 230 to 270 pound butchers, 12.50a13.15: bulk 280 to 326 pound butchers, most packing sows, 10.25a10.50; lots slaughter pigs, 13.40a13.65; heavy- weight hogs, . 12.00213.00: medium, 2.35218.70; light, 13.00a13.75 light, 13.10a13.75; packing sows, 9.85 a10.75; slaughter pigs, 13.25a13.75. Cattle—Receipts, 12,000 hea steer trade on specialty basis; buyers showing some action on choice year- lings at 10.00 upward; early top, 10.35; heavies in liveral supply; practically at standstill; few loads early around 9.5009.75, with strictly choice 1313- pound averages, 10.10; smaller receipts necessary to stabilize market; other classes slow, draggy, about steady; vealers, 12.00a18.00. b Sheep—Receipts, 16,000 head: slow, around 25 lower on fat lambs; no Westerns sold; Best natives early at 14.00 to small killers; few others held at that price; early bulk to packers, 18.60a13.75; culls, 25 to 50 lower at 10.50 mostly; some sales 11.00; sheep, steady; bulk fat ewes, 6.00a7.00; few at 7.50; feeding lambs pending lower; late yesterday bulk, 657 to 65 pound Idaho and Washington feeding lambs, 13.75a14.00; bulk of 65 to 70 pounds, 13.00a13.50; few around 78 pounds at 12.50; light feeders steady; heavy kind weak as compared with Monday. ' PRICES ON PARIS BOURSE. PARIS, July 28 (#).—Prices moved irregularity on the Bourse today. Three per cent rentes, 49 francs 25 centimes; exchange on London, 205 francs; § per cent loan, 52 francs 60 centimes. The dollar' was #juoted at 42 francs 9 centimes. k AT July 28~—Rain and| last day for deliveries on July con-| | port just filed with g MARYLAND ELECTRIC LINE |, .50a1.00; green, | Honey- | IAL. CAPTTAL TRACTION JUNEINCOME CAINS Above Last Year, But Falls Below May This Year. More Passengers. today in the first part of the Board | By EDWARD C. STONE. Net fhecome of the Capital Traetion Co. for June was $69,478.29, compar. ed with $59,350.66 for the same month in 1925, according to the monthly re x the Public Utlli ties Commission. While the net reve- nue showed a marked gain over the similar period last vear, yvet it was less than for the month of May this car, when net income reached 380, 4.59. Gross operating revenues for Jume were $386,074.74, revealing a MNberal increase over June, 1925, when opera- tions brought In $877,611.84. After deduction of expenses, including taxes, the road's operating income fer the month was $94,861.31, compared with §$52,301.70 last year. Expenses in June were quite a little lighter than a year ago, but there was an increase of $1,358.59 in taxes. The total number of passengers carried on the company's lines was 7.120,826, just 321 more patrons than sed the cars in June a year ago. Local Securities Again Strong. _Trading in Washington Rallway & Electric Preferred led the local ex. change session today, 68 shares in seven transactions selling at §9%, an advance of half a point since yester day. Potomac Electric Power pre- | ferred gained an eighth of a point to- day and sold at 108%. Two bank stocks appeared on the board, 10 shares of Federal-American Natlonal selling at 316, and 16 shares of Con- tinental Trust Co., bringing 91% Twenty shares of National Mortgags & Investment preferred sold at 8% and later 50 shares changed hands at §14. The first transfer for some time in Merchants Transfer & Storage | preferred took place when 10 shares | sold at 101, On the bond side a $500 transfer of “apital Traction 5s sold at 1007, | Washington Raflway and Electric s sold at 8214 and the general and re- | funding 6s brought 104. Railroad Earnings Jump. The June earnings report of the | Pennsylvania Railroad shows substan- tial gains over June last year, met operating income rising to $10,002,235 | from $8,296,024. Gross galned $4,597. 407. Net operating income for the was $44,567,706, ,978 in the same period while gross revenue amounted 36,815,499, compared with $317, ear ago. Net income of $9,446,000 reported by the Southern Railway for the haif r is equal, after preferred divi- dends, to $6.62 a share on $120,000,000 | common_stock, against $8,340,000, or | $5.70 a share, in the first half of 1925 | Surplus _for June was $2,091,000 | against $1,478,000 in June last year. Net earnings of the Norfolk and Western Railway in June were $3,041. 1536, as compared with $2,913,239 in ay, the road's monthly financial | statement shows. Net earnings for | the first six months of this year were | $16,640,051 and for the same period last year they were $0,938,279. Insurance School Closes Tonight. The intensive training of insurance agents during the past six weeks at the Central Y. M. C. A. has been con- cluded and the commencement dinner of the Washington class of the Rock- vell School of Life Insurance, prin- ciples and salesmenship will be held at the Beaver Dam Club this evening. The school has been sponsored by the District of Columbia Underwriters’ Association, the session being the first of the kind ever held here. The prin- cipal speakers at the dinner will be N. E. Ellsworth, head of the local as- soclation, and Charles J. Rockwell, founder of the school. The officers | of the graduating class are H. Cochran Fisher, presiden: Miss Marjorle Daniell, vice president, and E. W Fenn, secretary-treasurer. Memorial Half Dollars Used. In making change for patrons in Baltimore and Ohio dining cars, ticket agents and stewards are giv- ing out “Stone Mountain Memorial” half doilars at their face value, as souvenirs. These special coins were purchased from the Stone Mountain i,\iemoflal Association, at $1 apleoe, | by the company, for distribution | among its patrons. Loan Being Rapidly Retired. The Treasury Depurtment reports that the Third Liberty Loan. matur | ing in 1928, which is the next of the | original war issues to fall due, had at the end of the Government's fiscal year on June 30 been approximately 40 _per cent retired. The Third Liberty Loan was a straight 10-vear loan and the original amount. issued was $4,175,650,060. Today's Financial Notes. Paul B. Detwiler of Philadelphia. who was elected president of the American Institute of Banking, is & decided favorite among the members of the Washington chapter. He made an address here last year which was very enthusiastically received. Net income of S. S. Kresge Co. for the half year rose to $5,382.246 from $4,804,105 in the first half of 1925. equal to $1.43 a share on the common after preferred dividends, against, $1.28 a share a year ago. The seat acquired by Thomas W Brahany on the Washington Stock Exchange yesterday was formerly | held by Peter A. Drury, president of the Merchants’ Bank & Trust Co. ‘An additional $250,000 Georgetown Gas Light first gold 5s have been ad- mitted to trading on the local ex- change. A sales galn of 40 per cent over the same period of last year is re- ported for the six months ended June 30, last, by Canada Dry Ginger ‘Ale, Inc., in spite of what President P. D. Saylor describes as the “worst weather conditions in 25 years.” DAIRY PRODUCTS. BALTIMORE, July 28 (Special). Live poultry—Spring chitkens, pound, 30a38; Leghorns, 25a32; old, hens, 27a 29: Leghorns, 20a22; old roosters, 20; ducks, 25a28; old, 15a22; pigeons, pair, 30a40. Eggs—Receipts, 574 cases; native and nearby firsts, dozmen, offered at 28%. ‘)!Iutlor—dood to fancy creamery, pound, 39a413%; prints, 42a44; blocks. 41a43; ladles, 32a33; rolls, 28a30; store packed, 26a26%; diary prints, 28a30; process butter, 35a36. BELGIAN FRANC DROPS. BRUSSELS, July 28 (#).—The Bel gian franc, which has been improving recently, today slumped to 417628 to the dollar and 202.50 to the pound. On Monday the franc was quoted at 38.325 to tae dollar and 187 to the pound. —_— DIVIDENDS DECLARED. PITTSBURGH, July 28 (#.—The regular quarterly dividend of 1% per cent on its preferred stock, payabie October 1 to stockholders of record September 15, was declared yesterday by the Jones & Laughlin Steel Cor- poration. A dividend of 1% per cent on the cnm‘:‘mn stock b:“l :no de- clared, pavable September stook- holders of record August 16.