Evening Star Newspaper, July 29, 1926, Page 30

FINANCIAL STEEL AND MOTORS SET HIGH RECORDS Other Shares Drawn Along in| Wave of Buying in Two Big Leaders. BY STUART P. WEST. Epecial Dispatch to The Star. NEW YORK, July .—In the most ctive market since the present up: ward swing began, United States Steel common and General Motors sold at the highest point in their history today. Steel common was dealt in_around 145, which was the previous high, in enormous blocks, finally pushing through that figure to a new top at 145 (reneral Motors opened at a new high and with only insignificant reactions pushed ahead until in the late afternoon it had scored a net gain of approximately 9 points at 188%. Transactions in this favorite also were very large. More than at any time, too, other stocks were drawn along, although the strength was not uniform throughout the list. Mack Trucks was an outstanding feature up about 3 points and White Motors went along to a less decree. Operations For Rise. Operations for the rise went ahead vigorously in Allied Chemical, Texas Gulf _Sulphur, Timken Roller Bear ing. Consolidated Cigar, Dupont, . S. Cast Iron Pipe. the lower priced motor snares and some of the inde- pendent steels. Public Service Corpo- ration of New Jersey was conspicuous- 1y strong in the utility group. General Motors Feature. The spectacular rise of General Motors into new high territory over- shadowed everything else that hap- pened. Wall Street was almost unanimous in Its belief that directors | at the meeting August 12th would act favorably on a proposal to reward share owners with a substantial extra stock distribution, and a dividend of as much as 50 per cent was talked of. General Motors left off yesterday at 179. It crossed 188 today before the demand spent itself. Mack Trucks mover forward brisk- Jy before profit-taking sales checked the upward drift. Hudson Motors, at 64, gained more than a point, but came off later when realizing sales came into the market. The buying, which carrfed Timken Roller Bearings across 60 to a new high for the year, appeared to be based on bellef that in view of the excellent earnings. directors at the meeting next week might be disposed to place the shares on a regular an- nual $4 basis and declare something extra. Dividends at the present are being pald at the regular rate of $3 with $1 extra. The favorable disclosures in the mid- week steel trade reviews concerning operations in the industry ho doubt were having their effect upon speculative sentiment tfoward the steel stocks. The olls and ralls were neglected for stocks of the specialty glass, where chances for quick profits were more favorable. The coppers continued to reflect the improved outlook for the ! copper metal and further gains oc- curred in American Smelting and Re- fining and Cerro de Pasco, the latter at new high prices for the vear. Markets at a Glance NEW YORK (#).—Stocks higher; U. 8. Steel and General Motors reach new peaks. Bonds irregular; War- ner Sugar issues recover. Foreign ex- changes steady: Belgian franc higher. Cotton steady: heavy rains Atlantic States. Sugar featureless. Coffee lower; easier Brazilian reports. CHICAGO.—Wheat_strong; bullish private Canadlan estimates. Corn steady: unfavorable Iowa weather re- port. Cattle easy. Hogs lower; slow demand. WALL STREET BRIEFS NEW YORK. July 29 (#).—An dn- crease of 14 per cent is shown in ag- THE NEW YORK STOCK EXCHANGE Received by Private Wire Direct te The Star Office Abrahm&Straus. Adams Exp (6). Ahumada (v1).. Alr Reductn (15) Ajax Rubber-.... Albany Paper. .. Allled Chem (4). AllledCm pf (7). Allis Chalm ().. Amal Leather Amerada (2).... Am Agricul Chm Am Agri Ch pf. . Am Bank N. 1.60 Am Bosch. ..... Am Brake Sh(6) | Am Br Bov EI(2) Am Br Bo pf (7) Am Can (2). | Am Car&Fay (6, | Am Chicle (3).. | Am Drue....... | Am & Ior Pow. . Am Hide & L pf. Am Ho P (2.40). Am Ice (110). Am Internatl. Am La Fr (1)... Am Linseed. Am Locomot Am Metals (4).. Am Plano pf (7) Am Po&Lt (g1). Am Radiator (4) Am Safety R (3) Am Ship & Com. Am Sm & Ret (1) Am S & R pf (1) Am Snuff (12).. Am Stl Fdys (3). Am St Fy pt(7). Am Sugar (... Am Sugar pf (1) ‘ Abitidi Pow (4). Am Tel & Tel(9) A Tel& Teieg rts Am T)bacco (8). Am Tobac pf (6) Am Typ Fdrs(8) Am Wa Wo ¢1.20 Arg Woolen. Am Wool pf Am Writ Pa pf.. Am Writ Pa ctfs Anaconda (3).. ArmourDel pf(7; Armour of I11(A) Armonr of 111(B) Arnold Con (n). Asso Dry G(2%) Atchison (1) - AtIC Line(19% Atl Guif & WI.. At] Birm & At... Atlantic Refing. . Atlas Powdr (4). Austin-Nichols. Austin Nie pf(7) Auto Knitter. .. Autosales pf Baldwin L (7). Balto & Ohto(5). Bang & Ar (3).. Rarnsdall A (2). Bayuk Clgar. Belding Bros Bethlehem St Beth Stl pf (7) Bloomingdale. . . Booth Fisherles. Botany A (4).... Briggs Mfg (3).. RBkin Edison (8). BkIn-Mn Tr (4). Bkln Un G(111). Brown Shoe (2). Brunswick Ter.. Burns Bro (10).. Burns Br B (2). Burroughs (14). Bush Terminal.. Bush Ter de (7). Butterick Calif Packing(8) Calif Petrol(2) Callahan Zine. Calume&H(1%). Can Paclflo (10). Case Threshing. Case Thr pt (7). Cent Leather. Cent Leather pf. Cerre De P (4). . Chand.Cle pf(4). Ches & Oh (112). Chi & Alton... Chi & Alton pf.. Chi & East Iil. Chi Great We: Chi Gr West p! Chi M1 & StP... Chi Mil & St P pf C M11&StP pf cfs Chi & Nws (4).. Chi Pneu T (5).. ChiR1& Pao... CRI&PPL(T). Childs (32.40)... Chiia Cop (2%). Chrysler Corp(3) gregate net operating income of 45 railroads that rave reported earnings for June, the total of $73,032,058 com- paring with $64,053,500 for the same number of carriers in June last year. The amount for May this year on the same basis was $66,825,950. Gross revenues galned 6.5 per cent, $365,580,- 285, against $343,218,183 in June, 1925, and $350,213,552 in May this year. Formation of a new public utility In Connecticut, the Derby Gas & Hlectric Corporation. and its acquisi- tion of more than 99 per cent of the capital stock of the Derby Gas & Elec- tric Co. and all the capital stock of the Wallingford Gas Light Co., were announced today. The properties will be supervised by the Utilities Power & Light Corporation. Public offering of $5,500.000 first lien bonds of the new corporation, 5 per cent series of 1926, soon will be made by a syndicate headed by the Chase Securities Cor- poration.” A merger of the National Butchers & Drovers’ Bank into the Irving Bank- Columbia Trust Co. has been approved by directors of both institutions. Shareholders of National Butchers & Drovers' for each two shares held will receive one share in the Irving Bank-Columbla Trust, which had re- sources of $446,228,000 on June 30, eapital stock of $17,500,000 and su plus and undivided profits of $1 444.000. National Rutchers & Drovers’ had capital of $2,000,000 on July 26 and surplus and undivided profits of $1,309,736. Capital stock of the larger bank will be increased 45,000 shares. Sinclair Reflning Co. today advanced kerosene in railroad tank cars one- half cent a gallon to 10 cents, at New York, Philadelphia and Atlantic, ter- minals. The Great Northern's net operating tncome for June declined to $2,308,517 from $2,359.931 in June last year, but for the half vear was $7,022.941, against $6.844,506 for the first’ haif of 5. A million dollars in gold has been shipped to the Canadian Bank of Com- merce in Montreal by the J. Henry Schroeder Banking Corporation, part of a movement which the financial district hears will be of small pro- portlons.” Consolidated profits of Phillips Pe- troleum for the half year rose to $14,201,016 from $10,456,494 for the first half of 1925. Atlantic, Gulf and West Indies Steamship Lines had a deficit of $5 823 for the first five months this year, in contrast to surplus of $920,252 in the same period of 1925. Surplus for May was $18,540, against surplus of $280,905 in May last year. Plans for the consolidation of sev- eral public utility companies in north- ern California, including the Alturas Light and Power Co,, the Fort Bragg Light and Power Co. and the Men- docino Light and Power Co., were an- nounced yesterday by the W. D. Foshay Co. The properties will be combined in a new corporation to be known as the People's California H: -electric Corporation, which will be der the direct control of the orpora- | Gol Coca-Cola (1) Collins & Alkmn. Collins&ALk pt 7. Col Fuel & Iron. Col Gas & El (5) Col Carbon (4) .- Com Cr rf (1%). Com SolvB..... Congoleum-N. ... Congress Cgr(3) Consol Clgar. ... Con Cigars pf(7) Consol Distribut Consol Gas (5).. Cont Insur (8).. Cont Mot (80c).. Corn Prod(t2%) Crown Pa 1st(7) Cructble Stl (5). Crucible pf (7). Cuba Cane Sugar s Cuban-Am 8 (2). Cudahy Pkg (7). Davison Chem.. Del & Hud (9).. Del L & Wn (17) DRG Wstpf... Detroit Ed (8).. Devoe&Ra(2.40) Dodge Bros Cl A Dodge pf (7)... Dome Mines (2). Douglas Pec (1). Dul S S & Atl pf. Dupont (119) Dupont deb (6). Durham Hose. Eastman (18)... Eaton Axle (2).. El Auto Lt(16% Bleetric Boat. .. Open. High. % 48% 118 8% 8y 121% 122 8% 8% 27 131% 122 90% 16 30 18 59 40% 20% 123% 127% 38% 38% 95% 62 101 40 ™ 22% 85 26% 127% 33% Am Sumat A cfs 189% 334 1% 16% 168% 143 112% 10% 1% 17 1% 116% 56% 100 62 34% 35 161 45 105% 45% 84% 61 Blec Power & Lt EP&LpE 40% (1) Elec P & L pf(7) Elec Refrig(f2). Elec 8to Bat(16) Engineers Pub S Engnrs PS pf(7) Equitable pt (7) Erie R R. . Famous P1 (J2). FedLight(®1.40) Fed Min pt (1. FratNP 1st19. First Nat S(1%) isk Rubber FiskR 1st pf 8(7. Fleischmn(12%) Foundation (8). Fox Film A (4) Freeport-Texas Gabriel A(t4%). Gardner Motor.. Gen Am Tnk (3). Gen Asphalt.... Gen Cigars (4).. Gen Elec (H3).. 8 Gen Elec (112) - Gen Elec sp(60c) Gen G&E A E1% Gen Motors (116) Gen Mot deb (6). Gen Mot pf (8) Gen Mot p£ (7). . Gen Outdr Ad(2) Gen Petrm (3). Gen Ry Sig t4%. Glidden (2) 4 o A 88% 1% 37% 181 104 104 118 88% B5% 1024 29 142 6 120 110% 120% 63% 89% 36% 14% 140 36% 101 30% 92% 42% 139 164% 25% 70 104 4 103% 1% 83 130 11 4% 98% T6% 100% 9% 38% 50% 11% 112% 29% 66 6% 19% 105 95% T0% 128 33% 65% 65% 86% 85% 17% 17% Goodrich Ru (4) Goodyear pf (7). Gothm 8 H (2%) Gotham S H new Gotham pf (7).. Granby Consol. . | Grt North pf (5) Gt Nor Ore (1%) Green Canan. ... Guif Mo & Nor. . Gulf States S (5) Hanna 1st pf. | Hartman....""" | Hayes Wh(t3%) Hoe & Co A Howe Sound (3) HudsonMan (2% Hudson Mo(3%) Hupp Mot (1).., Indep Of1 (1)... Ingersoll R (14) Inland St (21). Inspiration (2)... Interurb Rap Tr. Intcontl Rub(1). Internat Agri. .. ™t Bus Mx (3).. Int Cement rts. . Int Com Eng (2) Int Harvstr(). . ThtMtch pf(3.20) Int Mer Marine. Int Mer Mar pf. . Int Nickel (2). .. Int Paper (2). Int Paper pf (7), nt Tel & Tel (6) Int T&Teleg rts. Intertype (t1%) Jones Bros Tea. Jordon Mot (3).. Kan City South. Kan C So pf (4). Kansas & Gulf. . Kelly-Spring. .. Kennecott (4) Kresge S8(1.20 Kresge Dept S.. Kresge DS pf(8) Laclede Gas (8). Lago O1] & Tran. Lambert (83%).. Lee Tire & Rub. Lel:igh Val(314) & 17ink stf(3) Life Sav (1.60). Liggett & M (+4) Lig & M B (14). Lig & Mpf (7).. Lima Loco (4).. Loew’s It (2) Loutsiana O1l. .. Lou&Nash (16%) Lou1sGasA (1.75) Ludlum Steel (2) McCrory B 15.60. Mack Trucks (8) Macy HR & Co. Macy pf (7) Magma Cop (3). Mallison & Co. Manati. . Man EI Su ) Man Bl gtd(D5) . Shirt (13). Maracaibo Ol Market St pt Mariand Of1 (4). | Marlin Rock (2) fathieson (4).. May Dept St (5) Maytag Co (2 Mexican Seabd Miami Cop (1) Mid-Continent. . Mid.Cont pf (7). Middle States. .. Midland pf(+10) Miller R cHs(2). Mis Kan & Tex Mo K & T pf (8). Missour! Pacific. Missour! Pac of. Montana Pow(5) Montgom Ward. Moon Mot (3)... Mothr Lode(75¢) Mo Plcture(1%) Motor Met(3.60) Motor Whi (2).. Murray Body... Nash Mot (13).. Nash & Chat (1) Nat Biscuit t4% Nat Cash Reg(3) Nat Cloak pf (7) Nat Dairy (3)... Nat Distillers. .. Nat Distlllers pf Nat Po& Lt(40e) Nat Fy Mex 1st. Nat Ry Mex 2d.. Nat Supply (4).. Nevada Cop (1). NY Alr Brake(2) N Y Afrbrake rts N Y Canners C2. NY Central (7). NY Chi&StL(11) North A (B3.40). NthAm Ea pf(7) North Pac (6).. Norwalk (80c). . 011 Well Sup (2) Omnibus. ...... Oppenheim (3) Owens Bot (14). Pacific Gas (8) Pac Oil Stubs Packard (12.90). Paige Mot(1.80). Pan-Am (8).... Pan-Am B (6)... Pan.AmWnB(2). Panhandle. ..... Park Utah (80¢: Pathe Ex (c3)... Penick & Ford. Penn C & Coke. Pennsy RR (3). Penn-Seab el. Peoples Gas (8). Phila& RC&I. Phillips Pet (3). Phoenix pf (7).. Pierce-Arrow. .. Plerce-Ar pf (8) Pierce Ofl Plerce Petrolm. Pitts Coal pf Pitts & W V Postum (5) Producrs & R pf Pub Ser N J (6). Pullman Co (8). Punta Aleg Sug. Pure Ofl (1).... Radio Corp of A. Ray Cons Cop (1 | Reading (8).... | Reading ris Reading 1st (2). Remington Type Rens & Sara(3). | Rep Ir & St1 (4. Rep 1 &S pt (7). Reynolds Spng | Rey Tobac B(5). Robt Ret: Royal D( Rutland pf. St Jaseph L(13). StL & SanFr (7) St L Southwe: St L Swn pf (5). Savage Arms (4) Schulte (§8). Seaboard Air L. Seabd Alr L pf. | Seagrave(e1.20). Sears-Rn (23%). Shattuck F G(2) Shell Tra as6%¢. 1 Un (1.40) Shubert Theatre Simmons(12.26). Simms Pet (1). Sinclair Oil Sinclair pf (8). Skelly Ol (2) ison Sou Dairies A(4) Sou Dairies B. S| Shell Un pf (6). | Open. High. Low. Close 48% 60% 48% 60" 105% 108% 1054 49 494 4B 48% 48% 484 108 108 28% 22% 73 124 20 20 21% 19% 34 3% % 116% 115% % T4 21% 21% 13 18 24 23u% 43% 434 66% 66% % % 13% 13w 56% 56% 53% 22 79 168% 22% 54 8 8914 384 214 1 Southern Ry (7). South Ry pf (6) pear & Co pf(7) Spleer Mfj | Activity Centers Around Few Selected Issues in To- day’s Trading. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, July 29.—Bonds held quietly Airm in today's market. Activ- ity centered around a few selected is- sues. Attention in the investment division was attracted by the sudden demand for Western Pacific 68 of 1946, which gained nearly a point following the ad- vance of vesterday. Among speculative bonds there was an even more pronounced demonstra tion in Denver and Rio Grande West- ern General 5%, which had sold as low as 69 on Wednesday, but today crossed 70 to a new high record. ne Earnings Report. The June earnings statement of the last named may have had something to do with the upswing in the bonds. | 1t showed a jump in net operating in- | come of over 25 per cent. The West- | ern Pacific report was almost as good | Vigorous demand for the Western Fa- cific 68 was apparent in the outside market as well as on the exchange. Another speculative railway issue in which unusual interest was taken was International Great Northern adjust- ments, selling in volume at the high of the vear. Here, too, there was the justification of an improved earnings position. Interest is now heing paid on the bond at the rate of 4 per cent, but after January 1, 1928, interest is | cumulative at § per cent. Tractions were active bhut irregu lar. Nassau Electric 4s dipped below 60, Oil honds were well supported, although General Petroleum 5s at one time sold below par. Copper obliga- | tions were firm, but some of the sugars sagged. Kresge Foundation 6 | per cent notes were introduced to trading on the Stock Exchange and sold at a half point premium over the | offering price last May. Foreign Bonds Hold Gains. Foreign bonds maintained the gains of the day before for the most part. Argentine Internal s at 80, were at a new high for the past two vears. German 78 sold above 105 | Today's new issues were well ceived. The $14,500,000 Central Power and Light first 58 of 1936, offered by a syndicate headed by How | Bertles at 96, to yield ove: |cent, were heavily oversubscr the " books closed. The $4.040.000 Liguid Carbonic Corporation ' first mortgage convertible 6s, due 1941, paid also all sold and the books closed. The day's foreign offering was the $15,000,000 Silesian-American Corpora- tion 15-year 7 per cent collateral trust bonds, maturing 1941, paid at 94%, to vield about 7.60 per cent. This, too, was well taken, The syndicate was headed by W. A. Harriman & Co OPENING POWER UNITS. NEW YORK, July 29 (®.—Gen eral Gas & Electric Corporation in the next 60 days will place in opera- tion three large power units, one of 130,000 kilowatts for Broad River Power Co. at Parr Shoals, S. C.; one of 12,000 kilowatts for the Florida Public Service Co.. and one of 30.000 kilowatts for the Metropolitan Edison system at Middletown, Pa. Operating income for the vear ended June 30 rose to $7,606,041 from $6,333,876 for the vear before. > PRICES ON PARIS BOURSE. PARIS. July 29 (#).~Prices moved trregularly on the Bourse today. Three per cent rentes, 47 francs 75 | centimes; exchange on London, 203 francs 25 centimes; 5 per cent loan, 51 francs 90 centimes. The dollar was quoted at 41 francs 93 centimes. Std Gas&El (g4) S14 G & Bl pf(4) Sta Ol Cal (2).. 60% StAOINJT (1).. 444 Std Ofl NJ pf(7). 116% Sterling Pro (5). 86% | Stewart War (6) Stromberg (6). .. Studebaker (§). Submarine Boat, 54\ 6614 Sweets of Amer. Symington Symington AG) ‘Tenn Copper (1) Texas Co (3)... Tex Gulf 8 (10). Tex & Pacific. .. Tex& PacC& O Third Avenue. Timken (14). ‘Tobac Prod (7). Tob Prod A (7). Transcont Ofl.... Underwood (4).. Un Bag & Paper, Un Carbide (6).. Un Ol (2)...... Un Pacific (10). Un Pacific pf(4). Un Tank Car(5). Utd Alloy (2). Utd Clgar S(c2). Utd Drug (8)... United Fruit (4) U S CI1P&F(10) USCIPpf (7). U S Distributing US Hoffmn $3% . U 8 Ind Alcohol. U S Realty (4).. U S Rubber... U S Rub 1st ( U 8 Steel (7) U S Steel pt (7). U S Tob pf (7).. Universal Pipe. . Utl P& Lt A (e2) vanadium (8)... Va-Caro Ch(n).. va-CarCh 6% pf Va-Car Ch pf(7) Vivaudou Wabash..... Wabash pf A(6). waldorf (1%). Ward Baking B Wwarner Bros er (4) . West Maryland. West Pacific. West Pac pf (6). West Unton (8) . West A Br(16%) Westinghse (4). Weston Elec. Wheel & L Erle Whie Eagle (2. White Mot (4).. White Rock (2). White Sew pf Willys-Overland Wilys 0d pr(h). 8 Wilson ney WoolwthF'W (15] 166 Worthn Pump. .. 30 Wright Aero (1) Yale&Town(15). Yel T&C(75¢) Yellow T&C 1 24 Yel Tr&C pf (7). -100% Youngstown (4) 82% idend rates wivel PR Y e X B N B ’%". ot gcx'i?;? o oty ok B, arie. Lapasabe 1% auarterly. tPlus 3% in stock; o Pajd ihfs year—no recular rate., b%u-m!.l'l D fi;’fn- 55 i stock. ‘Etvlb‘fn hen e 5 & Paable’n cash or stock. T 250, sharg, in B v v e selling | at 99, offered by Potter & Co., were | PRI e (Sales Tdb 3d 4%s. b@n Lib 4th 4% s 18 UB3%s.... Argentine 5s. Argentin Argentine s Oot 52 1 Austria 7s. . A Bank of Chile 6148 Bank of Japan 8s. . Canada 58 1931, Canaca 68 1952. Chile 75 1943 Chile 85 1926 Chile 85 1941...... Chile 85 1946...... Con Pow Japan 7s. Copenhagen 6%s. . Cuba 5%s. ! Czecho T%s Czecho 8s 1951 Czecho 8s 1962 ct.. Danfsh Munic 8s A. Danish Munic 85 B Denmark 8s.... D E In §5%s Nov iteh East 168 47. Dutch Bast 165 62. Finland s £ 65 45. .. | Finlana 7s. | Framerican 7%s French 7s. French 7% French 8s German B GermanTs........ Gor Agr Bank7s. .. Ger Gen Elec Ts. Greek 7s. i Halti 63 ¥ | Holland Amer 6s.. | Maty 7s. .. | Tapanese 48 | Tapanese 6% Lyon 6s. farseille 6 i Mexico 45 04 asntd Mexico 4% 10 asntd | Netherlands 68 54 | Nora 6%s. g Norway 5% Norway 6s 1943. Norway 65 1944 .. Norway 68 1952. | Orient Dev deb 6s.. | Paris.Ly-Med 6s.... | Paris-Ly Med 75 Paris Orleans Ts Rhinelbe Un 7s. ... Rio de Jan ¥s 1948 Rio de Jan 88 47... | Rto Gr Do Sul 83 Sao Paulo City 8s. . Sao Paulo 8% 1936. . Sao Paulo 1950 Saxon (PW) 78 Seine 78 42.. Serbs Crot Slo 88 Sweden 5%s ct | Swiss 538 19 : | Swiss Conted 8s... | Toho Elec Power 7s Toklo 5s. ... 100 8 1026 101 8 89% 99% 29% 99% 9914 99% 99% 9 | Utd Kingm 5148 28. 10 | Utd Kingm 53%s 37 | Uta Steam Copen 6: 10 | MISCELLANEOUS. | Am Agri Chem T3gs 17 Am Smit& R 1st 68 25 Am Smit & R 6s. Am Sugar ref 6s AmT&Tecl tr 4 AmT&Yeltr AmT& Tstbs. Am T & T deb 5% Am Water Wks 5s. Anaconda 1st 6s... Anaconda cv db 7s. Andes Cop Ts rets. . Armour&Co 4%srf Armour Del 5%s. Assoclated Oll 6s. . Atlantic Refin 68 Barnsdall 6s etrs. . Bell Tel Pa 68 B. Bell Tel Pa 58C. Beth Steel pm 5 Beth Steei rf §s Beth Steel %8 Bklyn Ed gen 5s. .. Bklyn Union 5%s.. Bush T Bldg 5s 60. Calif Pete 6%s. . Cen Leath 6s 45 cfs Col Gas & E1'5s sta. Commonwlth P Con Coal Md 1st Con Gas N Y 6% Consumers Pow 63 Est Cuba Sug 7%8. Empire G & F T %s. Goodrich 6% Good year 85 1931.. Goodyear 8s 1941.. Hershey 5%s Hoe & Co 6% Humble O &R Tllinois Bell 18t Tiinols Steel 4% Indfana Steel 5s. .. Int Mer Marine 6 Int Paper bs 47 Int Paper 6: : Int T & T 5% 5 Kan CP&L 55 A 52 Kan G & EI 65 52 Lackawa S 55 60 Laclede G 5%8 5! Loril'ard (P) 5 Liggett & Myers 58 Louisv G & E bs 52 Manati Sugar sf 7% Mid-Con 6%s 40. Midvale Steel b Montana Pow Bs. New Eng Tel & N Y Eason 58 4 N'Y Edison 6%s. .. Y GE L H&P 5s. Pac T & T b8 52. pan-Amer Pete 6 Phila Co 5%8 38. Phila Corf 68 A: Phila& RAC&I Pierce-Arrow 8s. Producers & Ri 104% 100% 108 104 97% 102% 100 105% 878 108% 107% 102% 0% 93% 103 1005 974 102 102% 96% 104% 108% 1044% 93% 2 97 7 98% 98 8. 59, A% Close. 1012 1016 190 16 160 16 100 10 1025 100 24 100 24 10110 | 10217 10219 | 101 16 101 17 103 23 103 30 10729 107307 Low. Close. 90 EVENING STAR, WASHINGTON, D. C. THURSDAIY BONDS HOLD FIRM [ BONDS v Raceived by Private Wire Direct to The Star Office. UNITED STATES. e in $1.000.) Sales. High. Low. . 182 1015 1100 16 30 100 10 3 1028 %s. 398 100 26 101 10 10219 16 101 19 . 151 103 30 43 107 30 FOREIGN. Sales. High 3 90 ' | Warner Sug 78 41. . West Elec 557 Westn Unton 6%s.. Westinghouse 7s | Willys Ov 6%s 33 | Wilson & Co 1st 6s. Youngstn S & T 6a. Atchison gen 4s. Atlantic C L cl Atlantic C L 1 Atlantic CL 7s Bklyn Manhat Buff R & Pitt 43 Canada South 5s Canad North 6% Canad North 7s. ... Canad Pac deb 4s.. Cent of Ga 5%s.... Cent Pac 1st 58 90. Ches & Ocv 4%s Chi & Alton 314 CB& Q- 31s, Chi& Elgnbs.... Chi Great West 4s. CM& Puget S 4s. . CM&StP4s25. .. M & StP4s 25 cfs CM&StPdeb 4s cfs. CM&StPensy. . CM&StPeviks. CM&SPev4 1 s32efs CM&St Priils CM&StPevbs. CM&SP cv s o CM&StPéa. Chi & NW 78, Chi Rys bs. .. ChiRT& P gnds ChiRT&Prfds ChiTH&SF5s Chi Unlon Sta s 44 Chi Unton Sta 614s. Cht & W Ind en 4 C& WI5%s62. CCC & StLSs. Cuba R R 5s. Cuba RR7% Cuba NR 6s 66 Del & Hud 1st rr 4s Den & Rio G cn 4s. N Rio G West b8 Frie gen 4s. . Erfe conv 4 A. Frieconv 4sB..... Frie Genessee R 8s. Frie (PaY eit tr 4s [ Fla B C5e74 Gr Trunk sf Ak 8s.. Grand Trunk 7s. Nor 416576 D. . Great North 5s Great North 5148 Gr North gen s Havana ERL&P 50 Hockinz Val 4%s. . Hud & Man ref 5s. . Hud & Man aj §a. . 111 Central ref 4s. . §1'1Cen 4553 | 111 Central rf 55 5§ Tl Central 5148 | M1-C-C RILANO 5s. | Int Rap Tran fs. | Int Rap Tr 6s stpd. Tnt Rap Tran 6s. 103% | "Nt Rap Tran 7s. 104% | 1t & G Nor 15t 6a. 105% | It & G Nor ad éa.. Snte | KanCity Ft S 4a .. 74 | Kan City S bs. 9274 | Kan City Term 4s.. | Lake Shore 45 28. . | Tiake Shore 4s 31 101% 16% | 105 | Man Ry 1st 90. 88 | Market St 7s 40, ; M1 E1 Ry & L 58 | MSt P& SSMen ds |04=‘1'} \IStPRSSM5s38ctd MK&Tady5s. ... MK&ToprinssA. | Mo Pacific zen 4s. . Mo Pac bs 1965 | Mo Pac 6s 49 D Mo Pac 6366 . ... | Morit Trm ref 5= 41 Nassau E Ry 45 57. NO Tex & M in 5a. NOTex&MEsB.. NOT&MbY%s | N Y Cengen3ys.. | N Y Cent 45 N ¥ Cent deb NYCrfim4%si3 | N Y Centrtés N Y Cent deb 6s. NY Cent LS el 3%s NYChI&SIL 515 8A. NYC&StL6sA.. Norfolk & W cv 6s. 100% | Northern Pac 3s 105% | Northern Pac 4s. 81% | Northern Pac 5s D. 1065, | Northern Pacr 1 68 Ore Short L rfs 4s Ore Short L cn 5s. . Pennsyl gen 4%s Pennsyl gen 58 Pennsyl 5s 64 | Pennsyl 6%: Pennsyl gold 7s Pere Marq 1st b PCC & St L 55 B 75. Port RL & P 55 42. PorRL &P 6s47.. Rio G West cl 4s RIArk& L 4% St L IM&S R&G 4s. StL&SFpldsA.. StL &SF prinss. ! St P & KCShL 43%. Seab A L ref 4s. . Seab A Ladj 6s. ... Seab A L con Seab All Fla 6s Sou Pacific clt 4s, 104% | Sou Facinc rer 4s. . 974 ! Southern Ry gen 4s 100% | Sou Ry con 55 94... 102y | Sou Ry 68 56. 1024 | Southern Ry 115% 105% | Term AssoS L ds.. Third Ave ref 4 | Third Ave adj & TolStL & W ds. Tol Tr L&P 5%s 30 Union Pac 1st & Union Pac 4s 27 Union Pac ev. Virginia Ry 1st SYMINGTON mon stock after NEW YORK, 98% 5841 4 Sales. Ore & Calif 1st §s.. 2 High. Low. Clfhe. | !a 9% 794 10 100 i 13 1125 112 112% ] 4 105% 106% 106% 4101 102% 102% | 2 98% v 10 104% RAILROAD. & 93% il Chi B& Q 1st rf s. Chi Un Sta 4%4s. .. 1 3 11 1033 | 1084 “13 27% 53% T1% 152% 65% /8% 1017 1% 100% 98 105% 974 104% 101 111% 107% 102% 1034 92 101% 81% 81y 93% 93% 2 92 825 B2y 7H 97U 101% 101% % 96 96 - L Sou Ry Mo & O 4s.. % | cent of the ground lost since the March | the prospect of bumper crops, profes- , | 41a43; ladles, 32a33: rolls, 28a30; store packed, 23a28%: dairy prints, 28a30; jerally 10 to 15 off; spots more on de- FINANCIAL Good Fall Trade Is Seen in Trend Of Stock Market By the Associated Press. P NEW YORK, July 29.—With the stock market having recovered 85 per reaction, there is a growing opinion in Wall Street that the recent advance in prices represents the discounting of good business this Fall. Midsumm | activity in several leading industries. | particularly the steel, automotive and copper, have greatly exceeded con-| servative ‘expectations. Even the building industry has held up better than most people expected, although there has been a falling off in some sections. With freight car traffic and bank clearings being malintained at record levels, relatively little unem ployment, aboundant supplies of money for all legitimate purposes and | sional interests sponsoring the rise in prices are extremely confident of their | position. WHEAT VALUES RISE ON CANADA’S OUTLOOK Reduced Estimates, Firm Cables and Unfavorable Weather | News Factors. ! By the Associated Press. CHICAGO, July 29.—Wheat made quick early upturns In price today as a result of unexpected firmness of Liverpool quotations, less favorable weather conditions in Canada and much reduced estimates of the prob- able Canadian yield. Opening % to lc higher, the wheat market here re- acted somewhat, but soon scored ma- terial fresh gains. Corn was firm, oats easy and provi- sions inclined to sag. corn starting unchanged to 7 higher and subse. quently rising all around According to reports today from a ecognized American crop authority, who has been on an extensive tour of Spring wheat territory, the three prairie provinces of Canada will har- vest only about 279,000,000 bushels this season, giving Manitoba 35,000, 000 bushels; Saskatchewan, 196,000, 000 bushels, and Alberta, 48,000, 000. These figures, he says, are the maximum that may be expected. Considerable notice was also taken today of United States Department of Agriculture advices, that important European producers, such as France and Germany, will harvest less wheat than last year. The department’s in- formation says grain in many areas | of central Europe is badly lodged and | European crops in general are two to | three weeks late, | =58 R > ik miEh) e 2 a%= 233 September em| 3 £ FE SRR ERr SR 3 DAIRY PRODUCTS. | Live Poultry — Spring chickens, | pound, 30ad40; Leghorns, 25a32; old hens, ' 27a29; Leghorns. 20a22; old roosters, 18a20; ducks, 25a28; old, 15a 22; pigeons, pair, 30a40 Eggs—Receipts, 1,2 and nearby curren at_25: bid, 26%a27. Butter—Good to fancy creamery, pound, 39a41%%: prints, 42a44; blocks, cases; nativé receipts offered process butter, 35a36. CHICAGO LIVE STOCK MARKET CHICAGO, July 29 (United States Department of Agriculture).—Receipts, 25,000 head; general market mostly steady to 10 lower; packing sows gen- sirable light sows suitable for shippers; top, 13.75; choice 200-pound selections upward to 13.60; bulk desirable 180 to 220 pound weight, 13.10a13.60; most 240 to 325 pound butchers, 11.90a12.25; bulk packing sows, 10.00a10.40; most slaughter pigs, 13.25a13.65; top, 13.75; heavyweight hogs, 11.85a12.90; medium, 12.25213.60; light, 12.90a13.75; light lights. 13.00a13.75; packing sows, 9.60a10.50; slaughter pigs, 13.00a13.65. ttle—Receipts, 8,000 head: general steer . trade about steady; yearlings getting some action: heavies very slow at week 50 decline; spots off more; downturn from two weeks ago often amounting to 75 to 1.00; most fed steers, 8.25a9.50; yearlings leading; best yvearlings today, 10.25; heavies, 9.50; bulls weak to 25 lower; vealers, 12.00a13.50. steady. Sheep—Receipts, 12,000 head; slow; fat lJambs steady to weak; no West- erns sold; early sale# of natives to packers, 13.50: upward to 14.15 for ewe and wether lambs to small killers; cull natives weak, few sales around 10.50; sheep steady: early sales of fat ewes, 6.00a7.25; few breeders, 8.50; aged wethers, 8.00; yearling wethers, 11.00a12.00; few 70-pound feeders, 13.00; steady; late yesterday feeder lambs mostly 25 lower than Tuesday; bulk 58 pounds, 13.75; 64 to 67 pounds. 13.00a13.25; heavier and rough kind downward to 12.50. o BUICK SALES GAIN. NEW YORK, July 29 — The Buick Motor C};. h!a‘sszfii:el:'ed through its New York office, since Au- gust 1, 1925, 28,501 cars, of which number 10,489 were delivered by deal- ers in the five boroughs, showing a g:i’:del !m:"t;hln 68 per cent as com- wi e correspondin, of the preceding yennp i g, FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks 1d Value. e sf,g'g“«’s siS6Y o, crown. .. Stockbolm. erows NEW YORK, July 29 (#).—Foreign exchanges firm. Quotations (in cents): Great Britain, demand; 485%; cables, 486 5-16; 60-day bills on banks, 4817%. France, demand; 2.40; cables, CO0. PROFIT. class A dividends, from $429,957, or 73 cents a share, in the first half of 1925. PSR GOULD COUPLER PROFIT. July 29 (#).—Net profit of Gould Coupler for the half year fell to $281,931, equal to $1.61 2.41. Italy, demand, 3.26; cables, 3.27%. Demand: Belgium, ,2.50; Germany, 23.79; Holland, 40.14; Norway, 21.90; Denmark, 26.50; Swit- Spain, 15.40; Greece, | month just passed | day. m———— W.R.E. AND PEPCO EARNINGS INCREASE Power Firm’s fiiefit in June $183,395.32, Against $175,634.59 in 1925. BY EDWARD (. STONE. Net income of the Potomac Elec- tric Power Company for June was $183,395.33, compared with $175.634.50 in June, 192 showing a gain of 60.75. according to the month Iy report filed with the Public Utllities Commission today. Gross earnings from operations for June of this year were $615,536.07. compared with $545,001.90 for the same month last vear, an increase of § total operating expe: were against $242,481.97 last year, another gain being revealed $42,659.47. Net income for th June 30 pared with $1 period last $88,474.06 W. R. & E. Report Is Also Filed. The monthly report of the Washing ton Railway and Electric Co. was also filed with the Utilities Commission to This showed operating revenues for June reached $414,338.90, against $399,664.95 for June, 1925; and that | operating expenses and taxes in June this vear totaled $334,935.64, comparea with the smaller fizure of $316,166.46 in June a vear ago. Net income for the month this vear was $36,114.09, against $33.642.73 for June, 1925, or a gain of $2.470.36 The city and suburban lines re ported the June net income as $5,490 93, against a loss a vear ago of $14,° 430.06. The same lines also re. ported marked improvement for the first six months of the year, the total net being $52,358.60, against a loss a vear ago of $18,374.53. On the Georgetown and Tenley town line thq net June income showed a loss of $11.321 but this was a de. cided reduction over the loss of $21.- 533 for the same month last vear. For the six months the loss was $14. 183 compared with a deficit of $27,280 for the first six months of 192 There was an increase of 50,907 in the number of paying passengers car ried on the W. R. & E. lines in the District in June. Passenger traffic however, was lighter than in May of this year, as June is always one of the quletest months of the year. Gas Light Issue Being Offered Dean, Onatavia & Co. and J. & \W Seligman & Co. are now offering the $250,000 Georgetown Gas Light Co. first mortgage 5 per cent gold bonds which they recently bought from the gas company. These bonds are due August 1, 1961. They are the last $250,000 of a $1.000.000 issue and are not callable prior to maturity. The statement sheet announcing the of fering shows that the Georgetown Gas Light Co.’s earnings have steadily improved during the past three years. The price is 1001 and accrued inter- est, to yleld more than 4.96 per cent Potomac Power Stock Strong. Potomac Electric Power preferred stock led quiet trading on the local ex change today, maintaining its recent strength, when 50 shares in three transactions sold at 108%. Capitai Traction came out at 103% and Mer- | genthaler Linotype was off to 105 on sales of two 10-share lots. Five shares | of Riggs Natfonal Bank stock sold at | 460. There was little doing in the | bond market, prices remaining steads Chapin Sacks 8 per cent preferred stock sold in the unlisted department at 100. Names Publicity Chairman. Howard Moran, president of the District Bankers' Association, has ap- pointed Frederick P. H. Siddon: retary of the American Security & Trust Co., chairman of a newly formed committee to look after the publicity for the association during the present year. Some six or eight representa- tive bankers are soon to be appointed to complete the committee. Mr. Mo- ran believes this new committee will be able to keep the work of the or- ganization very prominently before the public. Insurance Men Get Honors. The graduating exercises of the Rockwell Life Insurance School will be held tonight at the Central Y. M C. A. A large number of Washington life insurance agents will receive di- plomas after their intensive trainins of the past six weeks. N. L. Ellworth. president of the District Underwriters Association, reports that the schoc has been an unqualified success. Bank President Going Abroad. Peter A. Drury, president of the Merchants Bank & Trust Co., will for an extended trip abroad. While away his delightful summer home at Bluemont will be occupied by the Egyptian Minister. Mr. Drury wiil cover the usual tourist route while in Europe and will be away about two months, returning early in October. William D. Hoover, president of the National Savings and Trust Co.. will leave here next week for Hot Springs, Va., where he will pass his vacation at the Homestead. He will be accom- panied by Mrs. Hoover, and they will at Winchester and Staunton on the way. Mining Concern Organized. John E. Logan, Washington in ventor, reports that he has perfected a machine for saving fine gold that he believes will change methods in the gold mining industry. He secured a patent on it on June 29 after four years' experimenting. He says his ma- chine will save gold without the use of quicksilver. The device is to be handled by the Logan Mining and Machine Co., which is being backed by Washington and Kansas City in- terests. Woman Stockholders Number 69,939. On July 1 there were 69,939 women holding stock in the Pennsylvania Railroad, their total holdings being 32.44 per cent of the stock. They con- stitute 49.47 per cent of the total stockholders and are carrying an ev erage of 46 shares each. June was the first month of the present year to show a decrease in the total number ot stockholders. The oft-heard state ment that women own the railroad is not borne out by the percentage fig ures. . RUBBER DECLINES. NEW YORK, July 29.—Special) Crude rubber, smoked, ribbed sheets. declined another % cent at today noon quotation of 40%c. m pares with 42c a month ago and 95¢ 1.11%; Poland, 11.25; Czechoslovakia, 2.96; Jugoslavia, 1.77; Austria, 14.12%: Rumania, - .45%: Argentina, 40.50: NEW YORK, July 29 (#).—Net|Brazil, 15.31%; Tokio, 47.31%; Shang- profit of the Symington Co. for the | hai, 70.93%; Montreal, 100.15%. first half of 1926 declined to $344,593, equal to 48 cents a share on the com- FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Closing.) Y i a year ago. - stz i 2RRR2ARERIARRRR & g g ‘1 S PR S R > - leave Washington in a_week or two ' take the trip by motor, making stops * This com- ~ ’