Evening Star Newspaper, July 30, 1926, Page 14

14 o STEEL AND MOTORS STILL LEAD STOCKS Strength in Both Issues Over- shadows Everything Else in Market. BY STUART P. WEST. Special Dispatch to The Star. NEW first half of today's session on the Stock Exchange little change curred in the character of the trad- ing. The great strength of United States Steel common and General Motors overshadowed everything else in the proceedings. But when the de- mand for both issues appeared to have been supplied, at least for the time being, the elements working for higher prices transferred their activ- ities to the rallway group in the aft- ernoon, and substantial advances were recorded all through the group. General Motors, after having open- ed between 193% and 194 on a hlock of 7,000 shares, was carried to its highest price so far, reached at 194%, before profit-taking set in. Trading in General Motors furnish- &d the outstanding feature In the after- noon. After having reached a record high of 1943, heavy profit-taking set in, carrying the price off sharply and considerably below that figure at which it had closed Thursday. Call money. after having renewed at 4 per cent, loaned as high as 5 per cent later in the day. But this inci- dent could hardly have been used as se for the abrupt suspension > in the stock market. teel common, however, was not so much affected, although the price came off substantially from the high. Railway shares came down from their best prices but the selling was not active. Profit-Taking Heavy. Independent Steel shares were in- fluenced more so than at any oth time by the strength of steel cofn- mon. Youngstown Sheet and Tube, in view of its highly favorable show- ing of $7.58 a share for the first six months, was taken in hand and bid up sharply. Sloss Sheffield gained almost 3 points at one time while the demand for United States Cast Iron Pipe and Republic Steel result- ed in higher prices. Rail Group Is Strong. There was nothing that was not already known to account for the sudden demand which made itself felt in the railway group. The best opinion was that the market for these stocks so far has failed to re- spond to the favorable comparison in the June statements, both as to gross and net income, within the month previous and that of a year ago. Baltimore and Ohio stood out strong- ;. New York Central ran up some 2 s, Union Pacific, Southern Rail- way, Southern Pacific and Louisville and Nashville responded rapidly and there was special strength in Atchi- son, Atlantic Coast Line and Ca- nadian Pacific. ‘Among industrial specialties Ameri- san Can, selling ex the quarterly 50- cent dividend, sold .at a new top, taking into account the amount de- ducted from the selling price. The upward movement which got under way in the sugars on the previous day was not as pronounced and the buying centered in American Sugar and South Porto Rico, both of which gained more than 2 points. The to- baccos, under the lead of United Cigar Stores, were given a whirl, but the movement falled to follow through. ot the ri: . s, Markets at a Glance NEW YORK, (#).—Stocks irregular; United States Steel and General Mo- tors at new highs despite profit-taking. and rail exchanges Cotton Sugar steadier favorable featureless. Coffee higher; Brazilian markets. CHICAGO.—Wheat export sales. Corn ea rains. Cattle lower. broad shipping demand. LEASE OF BIG FOUR IS SOUGHT BY N. Y. C. Permission Also Asked to Rent Michigan Central and C., K. & 8. for 99 Years. steady; good beneficial Hogs higher; The New York Central applied to the Interstate Commerce Commission today for authority to acquire control by 99-year leases of the Cleveland, Cin- cinnati, Chicago and St. Louis, known as the Big Four Railroad. Permis- slon also was asked to acquire by lease the Michigan Central and the Chicago, Kalamazoo and Saginaw Railroad. In another application the Big Four requested permission to acquire by lease the Cincinnati Northern and the Evansville, Indianapolis and Terre Haute. These roads now are operated 2s part of the Big Four system. The arrangement proposed, the ap- plication said, would result in operat. ing economics, increased efficiency and improved service. The Big Four has mileage of 2,398 in Ohio, Illinois, Indiana, Michigan and Missouri. The New York Central already owns 84,681 shares of Big Four preferred stock, with a par value of $8,468,100, or 84.694 per cent of the total out- standing, and 429,411 shares of com- mon, with a par value of $42,941,000, or 91.308 per cent of the total. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks old value, 3 London, pound. SR005 $4R0T Montreal. dollar ! 00 - Parl 3 - Copenhagen. Oslo, crown. A Stockholm. crown. NEW YORK, July 30 (#).—Foreign exchanges steady. Quotations (in cents): Great Britain, demand, 485 9-16; cables, 4861; 60-day Dbills on banks, 481%. France, demand, 2.40 cables, '2.42. Italy, demand, 3.21% cables, 3,23. Demand: Belgium, 2.55; Germany, 23.79; Holland, 40.14; Norway, 21.90; Sweden, 26.76; Denmark, 26.52; Swit- zerland, 19.35; Spain, 15.35; Greece, 1.10%; Poland, 11.75; Czechoslovakia, 2.96; Jugoslavia, 1.77; Austria, 14.12%; Rumania, .45; Argentina, 40.56%: Bra- 211, 15.31%; Tokio, 47.31%; Shanghal, 71.00; Montreal, 100.15%. r SUPERIOR STEEL PROFIT. NEW YORK, July 30 (#).—Superior Steel reports net profit of $223,395 for the half year, equal to $2.23 a share after preferred dividends, in contrast o a deficit of §83,521 for the first half oL 1925, YORK, July 30.—For the oc- FINANCIAL, THE EVENING STAR, WASHINGTON, D. ©. NEW YORK STOCK EXCHANGE Received by Private Wire Direct te The Star Office Open. High. Low. Close. Abitib! Pow (4). 80 81 Abrahmé&Straus, 48% 48% Adv. Rumley.... 12% 13% Ahumada (v1).. 84 8% Alr Reductn(t6) 121 1213 Ajax Rubber.... 8 8% All Am Cable(7) 153 - 164 Allfed Chem (4). 1364 137 AllledCm pf (7). 122 Allls Chalm ().. 90% Amal Leather. .. .16 Amal Lthr pf(7) 102 Amerada (2).... 30 Am Agri Ch pf.. Am Beet Sugnr.. Am Bk N pf (3). Am Bosch...... Am Brake Sh(6) 127% Am Br Bov E1(2) 37% Am Br Bo pf (7). 95% Am Can pf (7).. 126 Am Can (2)..... 62% Am Car&Fdy (8) 99% Am Chain A (2). Am Chicle (3).. Am Drue....... Am Express ().. Am & For Pow.. Am Hide & Lea. . { Am Ho P (2.40). Am Internatl. Am La Fr (1) Am Linseed. Am Locomot (8) Am Mach & Fy.. Am Metals (4).. Am Po&Lt (g1). Am Radiator (4) Am Safety R (3) Am Sm & Ref (7) Am S & R pt (7) Am Stl Fdys (3). Am Sugar (5)... Am Sugar pf (7) Am Sumat A cfs Am Tel & Tel(9) A Tel& Teleg rts Am T)bacco (8). Am Tobac B (8). Am Wa Wo ¢1.20 Am W W 1st (7) Am Woolen..... Am Wool pf (7). Am Writ Papt.. AmZinepf. 5. Anaconda (3). Armour of T11(A) Armour of 111(B) Armour TNt pf(7) Arnold Con (n) Artloom (3).. Asso Dry G(2%) Atchison (7).... Atchison pt (5). At C Line(9%) At1Gulf & WI... At] Gulf&WI pf. Atlantic Refing.. Atlas Powdr (4). Atlas Pack . Austin-Niohi Auto Knitter. | Autosales pt Baldwin L () Balto & Ohlo(5) . Balto & Oh pf(4) Bang & Ar (3).. Barnet Leather. | Barnsdall A (2). Barnsdall B (2). Bayuk Cigar.... Beech-Nut (13). Belding Bros(3). Bethlehem Steel. Beth St pf (7).. Bloomingdale. . . Booth Fisherle: Botany A (4). Briggs Mfg (3).. Bkin Edison (8). BkIn-Mn Tr (4). Bkin Un G(t11). Brown Shoe (2). Brunswick Ter.. Burns Bro (10).. 140 3 Burns Br B (2). 85% 36% Burroughs (t4). 101% 101 Bush Terminal.. 30 30 g Butte Cop (50c). 5% 5% Butterick....... 43% 43% Calif Packing(8) 189 Calif Petrol(2).. 83 Callahan Zinc. .. 1% Calumet& Ar(6). GS:‘ Calume&H(1%). 15% Can Pacific (10). 164 Case Threshing. 142 Case Thr pf (7). 13 Cent Leather.... 48% 48% 12% 13% 8 8 120 120 8% 8% 158 153 183% 184% 122 122 95% Z95% 1256% 125% 169% B60% 45 26% 24 45% 58% 1% 6% 102% 30% 6% 22 29 144% 63% 91% 36% 13 140 | Cerre De P (4)... Certain-Teed (4) Chand.Cle pf(4). | Ches & Oh (112). ! Chi & Alton...... | Cni & Alton pt Chi Great West. Chi Gr West pf.. Chi Mi1 & St P. | Cni Mil & St P pf | C Mil & St P ct! C MII&SLF pt ofs Chi & Nwa (4)... ChiRI& Pac... CRI&P L (6). CRI&P DL (D). Childs ($2.40)... Chile Cop (2%) - Chrysler Corp(3) Coca-Cola (7). Collinis & Atkmn. | Collins&Alk pf 7. Col Fuel & Iron. Colo Southern. ... Col Gas & El (5) Col Carbon (4).. Com Cred 15t 6% Congoleum- Congress Cgr(3) Consol Cigar. ... Consol Distribut Cont Mot (80¢)... Corn Prod(12%) Cructble Stl (5). Cuba Cane Sugar Cuba Cane Su pf. Cuba Co (4)..... Cuba Co rights. . Cuban-Am 8 (2). - Cuban-Dom Sug. Davison Chem. . Del & Hud (9).. Del L & Wn (17) DRG Wstpf... Devoe&Ra(2.40) Dodge Bros Cl A Dod, Dome Mines (2). Douglas Pec (1). Dul 8 S & Atlan. Dul § s&';\'t)l pf. Dupont (119)... Duquesne pf (7). Eastman (18)... Eaton Axle (2).. Eisenlohr & Bro. Electric Boat. .. BElec Power & Lt Elec P & L pf(T) Elec Refrig(f2). Elec Sto Bat(16) Engineers Pub § Engnrs PS p£(7) Equitable pf (7) ErfeRR..oenee Ere 1st pf. Erie2d pf.....e: Eureka Vac (4). Exchange (1%). Fairbanks (3)... mous P} g?) Famous p >» FodlAght(*1.40) 30% Fisk Rubber. ... 18% Fleischmn(12%) 48% Foundation (8). 9 Fox Film A (#).. - 3% Freeport-Texas. 30% Gabriel A(t4%). a8 Gardner Motor. Gen Am Tnk (3). Gen Asphalt. ... Gen Clgars (4).. 50% Gen Elec (H3).. 859 Gen Elec (112).. 89% Gen Elec sp(60¢) 11% - GREAE1% 38 88 Gen Mot pt (7). Gen Outdr Ad(2) Gen Outdr A (4). Gen Petrm (3).. Gen Ry Sie t4% . Gimbel Bros. ... 504 Gimbel Br pf (7) 106 53 116 120 68% % 50% .- 867% 38 188% 118 33% 65 664 855 48% 106 85% 60% 49% 106 106 Glidden (2). Gold Dust...... Goodrich Ru (4) Goodyear pf (7). Gothm S H (2%) Gould Cou (2)... Granby Consol. . Grt North pf (6) Gt No Ore (1%) Grt Wstn Su (8) Green Canan. .., Gulf Mo & Nor. . Gulf States S (5) Hanna 1st pt. .., j Hartman. .. Hayes Wh(13%) Hoe & Co A."“.) Househd (1334) Houston O11., Howe Sound (3). HudsonMan (2% Hudson Mo(334) Hupp Mot (1) Tlinots Cen (7). 111 Cent pf ¢6) Indep Of1 (1).... Indian Refining. Indian Refgotfs. Ingersoll R (14). Inland St (2%).. Inspiration (2).. Interurb Rap Tr. Intcontl Rub(1). Internat Agri. .. Mt Bus Ma (3)., Int Cement (4).. int (éament rts.. nt Com En Int Harvetr( 5, 106 49 ). . 1 Inter Har pf (7). IntMtch pf(3.20; 12t Mor Mag pt., Int Nickel (2) Int Paper (2). Int Paper pt (7). Int Tel & Te! (8) Int T&Teleg rts. Intertype (t1%) Jewel Tea...... Jones Bros Tea. Jordon Mot (3).. KCP& L 1st (7) Kan City South. Kansas & Guif. . Kayser J (3). KKelly-Spring. Kennecott (4) Kevstone T & R. Kinney G R (4). Kresge S8(1.20) Lago Ol & Tran. Lambert (3%).. Lehigh Val(3%) Leh&Mink stf(3) Life Sav (1.60). . Liggett & M (14) Lig&MB (14).. Lima Loco (4).. Loew’s Ine (2). . Long Bell A (4). Loose W 2d (7). Lortllard(s) Loutstana Of1. La Oil pf () Lou&Nash (16 LouisGasA (1.76) Ludlum Steel (2) MelIntyre P (1). McCrory B 15.60. Mackay (7). o % Mack Trucks (8) Mack T 1st (7).. MackTk 2d pf(7) Macy HR & Co.. Magma Cop (3). Man El Sup(5%) Man El gtd(D5). Man Shirt (1%). Market St prior. Marland Of1 (4). Marlin Rock (2). Mathieson (4).. May Dept St (5). Maytag Co (2).. Mexican Seabd. . Mtami Cop (1) Mid-Continent.. Middle States. .. Midland pf($10). Miller R otfs(2). Mis Kan & Tex. . Mo K & T pf (8). Missouri Pacific. Missouri Pac pf. Montana Pow(6) Montgom Ward. Moon Mot (3)... Mothr Lode(75¢) Motor Met(3.60) Motor Whi (2).. Murray Body. Nash Mot (13).. Nat Acme (sta). Biscult 4% Nat Biscu pf (7) Nat Cash Reg(3) Nat Cloak & Suit Nat Dairy (3)... Nat Dpt Stores.. Nat Distiller: Nat Distiller. Nat Lead (8).... Nat Po& Lt(40e) Nat Ry Mex 2d.. Nat Supply (4).. NY Afr Brake(2) N Y Afrbrake rts N Y Canners C2. NY Central (7).. NY Chi&StL(11) NY & Harl (5) NY NH & Hart.. NY On & West.. NY Rys 2d stpd. Niag F pf (1%). Norfk & Wn (18) North A (B3.40). North Am pf(3). North Pac (5)... Nunnally (1.50). Omnibus. ...... Orpheum Cir(2) Otis Elevator (8) Otis Steel. . Owens Bot Pacific Gas (8).. Packard (12.90). Paige Mot(1.80). Pan-Am B (6)... Pan.AmWnB(3). Panhandle. ..... Park Utah (60c Park & Tilford. . Pathe Ex (c3) Penick & Ford. . Pennsy RR (3). Penn-Seab Ste Pere Marq (18). Pere Marq pf (5) Phila Co pf (3). Phila&RC&I. Philip Morris. ., Phillips Pet (3). Pierce-Arrow. .. Plerce-Ar pf (8) Plerce Petrolm.. Pitts Coal pf.... Pitts & W Va(8) Postum (6) Pub Ser N J (5). Pub SE&G pf(6) Pullman Co (8).. Pure Ol (1).... Radio Corp of A. Ray Cons Cop (1 Reading (4).... Reld Ico Cm (3). Remington Type Rens & Sara(8). Replogle Steel. . Rep Ir & Stl (4). Rep I&Spf (7). Reynolds Spngs. Rey Tobac B(5). Robt Rels & Co. Royal D(a1.339) Rutland pf. St Jaseph L(13). StL & SanFr (7). St L Southwest. Savage Arms (4) Schulte (ll).i‘u Sears-Rn (3. Seneca Copper) . Shattuck F G(2) Shubert Theatre Simmons(12.26). Simms Pet (1).. Stnelair Oil. Skelly Of1 #2) Sloss Shefl (8). Sou Cal Edison. . % 89% | Shell.Un (1.40).. 28% 28k 284 11% | Shell Un pf (6). 107% 107% 107% 8% 68% 67% 84% 35 34 9% 112% 109 82% 32%. 31% TRADING LIGHTER INBOND MARKET Financial Community’s At- tention Taken Up With Stocks Today. BY GEORGE T. HUGHES. Special Dispatch to The Star’. NEW YORK, July 30.—The atten- tion of the financial community was s0_exclusively taken up with stocks today that trading in bonds was on a small scale. Prices, however, were zllnt'n almost uniformly throughout the Ist. Apparently the money situation had been pretty well discounted in the re- cent reaction. The weekly statement of the Federal Reserve Bank was re- assuring also. In the high-grade list, United States Government bonds did better, especially the fourth 41, Lib- erties for which there was better de- mand than in some time. Baltimore and Ohlo issues were strong. As le- gal investments for savings banks, the return on the bonds secured under the refunding mortgage is higher than the average. Denver and Rio Grande Western. Speculatively, the favorites were Denver and Rio Grande Western gen- eral bs, an income bond on which noth- ing is now being paid, but which i showing increased earnings, and In- ternational Great Northern adjust- ments, where there has also been a sharp turn for the better in the in- ome account. At 75%, the last named duplicated their previous 1926 high. Only $4 is now being paid, but interest at the rate of 6 per cent becomes cumu- lative in 1928. New Haven convertible 6s were high and Chesapeake and Ohio convertible 5s went along at the stock. Missouri, Kansas, Texas adjustments held their recent improvement. There were no pronounced weak- ness among the industrials. Atlantic Gulf and W Indis t 71 were at a new high. Local tractions were not much changed. ing orders were well matched. Among the ofls General Petroleum 5s sold below par again, but Barnsdall 6s were up fractionally. Brooklyn Union Gas 5%s was the feature in the pub- lic ufility group. Foreign bonds were inclined to sag, but not significantly so. German 7s held above 105, maintaining their reputation for consistent steadiness. Kuhn, Loeb & Co. and the Ctuaran- tee Co. announced that the books had been closed on the $20,000,000 Mort- gage Bank of Chile guaranteed 6% per cent bonds of 1926, due 1961, of- fered by them today. The issue price was 991, to yleld over 6.80 per cent to maturity. o headed by y figst 5s 1946 at 95, to vield over 5.40°per cent. The $3,000,000 in first mortgage 6 per cent real estate bonds of the General Necessities Corporation were offered today by Hoagland Allum & Co. and Halsey Stuart & Co. R TREASURY CERTIFICATES. (Quotations furnished by Rediond & Co.) o NOON — Derby FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Closing.) Aprok Asked. Tsield 1005 FEESETRTERIRET Sou Dalries A(4) 58% Sou Dairfes 3... 32 South Pac (8) Southern Ry (7). South Ry pt (5) Spicer Mfg...... Std Gas&El (g4) Std G & El pf(4) Std Mill (5)..... Sta 04l Cal (2).. StdOIINJT (1).. Std Ofl NJ pf(7). Std Plate Glass. Sterling Pro (5). Stewart War (8) Stromberg (8). Studebaker (5).. Submarine Boat. Sun Of1 (T1).... Superior Ofl.... Superior St1 (2). Symington. ..... Telautogra (60¢) Tenn Copper (1) Texas Co (3).... Tex Gulf 8 (10). Tex & Paciflc. .. Tex & Pac C & 0 Third Avenu. Timken (+4).... Tobac Prod (7). Tob Prod A (7). Transcont Ofl Transue & W(2) Un Carbide (5).. UnOfl (2)....ue Un Pacific (10). Un Pacific pf(4 Utd Alloy (2)... Utd Cigar 8(c2). Utd Drug (8)... Unlversal Pipe. . Utl P& Lt A (e2) Vanadium (3)... Vick Chemical. . Va-Car Ch pf(7) ‘Ward Baking Ward Bak pf ‘Warner Bro: Weber (4) West Maryland. West Md 2d pf.. West Paclfic. ... West Pac pf (6). West Union (8). West A Br(16%) Westinghse (4). Weston Eleo. ... Wheel & L Erle. Wheel & L E pf. ‘White Eagle (2) White Mot (4).. ‘White Sew pf... ‘Willys-Overland Willys 0d pf(7). Wwilson A (new). Wilson & Co new ‘WoolwthF'W (16) Worthtn B (... ‘Wright Aero (1) Wrig Wm (14) ... Yel T&C(76¢) Yellow T&Crts. 24 2% 24 Yel Tr&C p£(7). 100% 101 100% Youngstown (4) 88 87 85% idend rates iven in Gihiorwise Hoted. eXira or special dive: are not included. P — al 3 lus £% in stock paya: auarterly. § "’:‘;‘Efl‘s‘% Stock; a Paid @ artly stock. 1. us i0% in 2 arterly. .ms;:;{pi,..}g.l‘jjwh:n“qm'i;_ lock. lus 2 Plus 2-50 sh i ck. oSl Aty S0 R Sock THIE S8 awckt” Buying and sell- | (Sales are in S Lib 3%, Lib2d4s... 15 Lib 1st4%s 24 o 1019 1028 100 2i w19 1022 66 1044 Argentine 5s. Argentine 6s Ju Argentine 6s Oct Arcentine Bank of Japan 6s. . Belgium 6s | Betgtum Beigtum 7% Belgium 8s. .. 3olivia 8s. Bordeaux §; Brazfl 7s.. Brazil 7%s... Brazil 88 Canada 65 1962.... 1 Canadu 5%s 1929. Chile 75 1943. Chile 85 1926. Chile 851946 Chinese Gov Ry bs. Con Pow Japan 7s. Copenhagen 5% Cuba 5%s. ... Czecho 7% rots Czecho 85 1951. Czecho 8s 1952 ct.. 13 Dantsh Munic 8s B. 8 Denmark 6s....... 10 Dutch Fast 16347, Dutch East 163 62. El Salvador 8s48. Finland s f 63 45 Framerican T%s Greek 78.. Halti 6s. Holland Amer 6 Hungary 7%s Ttaly 78.....c0e 4s. Marsellle 6s. Mexico 45 04 asntd. Mexico 45 10 asntd. Mexico 5s assented Montevidio 7s..... Netherlands 6s 54 Netherlands 6s 72 Norway 6%s. Norway 63 1943. Norway 63 1944. orway 6s 1952 “Orlent Dev deb 6s. Paris.Ly-Med 6s. Rhinelbe Un 7s. Rio de Jan ¥s 1946 Rio de Jan 8s 47 Sao Paulo City 8 Sao Paulo 1950. Saxon (PW) 7s. Seine 7s 42 Serbs Crot Sweden 5%s ct. Sweden 6s. . Swiss 5% s 194 Swiss Confed 8s Toho Elec Power 78 14 Utd Kingm 5%s 29. 2 Uud Kingm §%s 37. 63 Uruguay 8s. Am AgriChem 7%s 54 AmSmit&R1stbs 5 Am Sugar ref 6s. Am Water Wks 58 Am Writing Pap 68 Anaconda 1st 6s. Anaconda cv db 7i Andes Cop 7s rets. . Armour&Co 4% s rf Atlantic Kefin & Bell Tel Pa 53 C. Bush T Bidg 53 60. Cen Leath 6s 45 cfs 26 Chile Copper 6s 32. 15 Con Coal Md 1st 58. 6 Con Gas N Y 5%s Consumers Pow 5 Cuban Am Sug 8s Denver Gas §s Dodge w 1 6s Donner Steel 78 Duq L& P 5%849. Duquesne Light és. Est Cuba Sug 7% Emplre G & F 7% Goodrich 6%8..... Good year 8s1931.. Goodyear 8s 1941 Int Mer Marine Int Paper bs 47. Int Paper 6s Int T & T 5%S... Kan CP&L 58 A 52. Kan G & EI6552... 1 Lackawa S 58 60. Laclede G 5%8 52 Liggett & Myers t & Myers 7 Louisv G & E 53 62 M1d-Con 6% 40... Midvale Bttoll 5 12 ooy Phila Co 6%838... Phila Co rf 88 A. AR RO B AR RRENO N TEIDme NS - Sinclatr Ol Sinclair O1l 6% Sinclair Of1 78 Sin Crude O11 Utah P Vertientes Sug 7s.. Warner Sug 7s 89. ‘Warner Sug 78 41.. West Elec 58. ‘Wilson & Co 1st. Youngstn S & T 6s. Atcnison gen 4s.... 7 Atlantic C L ol 4s. . Atiantic C L 1st 4s. Atlantic C L. 7s Hikh. 100 16 101 20 RAILROAD. | UNITED STATES. 1.000.) Low. 2:30. 1016 1019 102 & 8 1018 100 0 100 10 102 8 100 24 100 24 1019 1 102 18 102 21 1041 90% 90% 99% 99 99% 9% 104% 102% 101% 101 108 40% 2% 102% 111 103% 106% 105% 107% 4 89% 9% Y84 294, 101 18 101 20 1044 1 107 28 107 23 107 283 FOREIGN. Salex. High. Low. Closa. 1 90% 99% o5% 102% 102% 11t 9% MISCELLANEOUS. 104% 100% 104% 100% 103% 9% 102% 100 92% 1043 1084 934 107 105% 9% 98 97% 08 102% 1625 102% . 102% 163 FRIDAY, JULY 30, 1926. Bklyn Manhat 6s. . Buff R& Pitt 4%s. Canad North 6% | canad North 7s. Canad Pac deb 4s. . Car Clinch & O 6s. Cent of Ga 5%s. Central Pacific Ches & cv 5s. . Chi & Alton 3% 4. ChiB & Qgn 4s 58. CB&Q-I3Y% Chi&EIgn Chi Great Wes CM & Puget S 4s.. CM&StP4s25... CM&StP 4525 cfs lCM&StPdbds... CM&StPdeb 45 cfs. CME&StPev4¥s. & CM&SPev4 1 sd2efs § CM&SPr 4%s cf14 CM&StPevbs CM&SP cv 5s cfs CM&StPés. Chi& NW gen 4s.. Chi& NW 6%s Chi Rys 5s. . Chi RT& P gnds. ChiR1&Prf 4s. ChiTH&SE5s. Chi Un Sta 4%s. Chi Union Sta 6% Chi & W Ind cn 4s. C& WIbsY%s62.... C & St L 6s. . CCC&StLrf6sA. Colo & Sou 4% Cuba R R 6s. Cuba RR7% Cuba NR 63 66. Den & Rio G cn 4s D & Rio G imp §s.. D Rio G West bs. Erie 1st cons 4 Erie gen 4s. Erie conv 4s A Erieconv 4s B Erie conv 48 D. Erie & Jersey Erie Genessee R FlaECS5sT4... Gr Trunk sf db 8s. Grand Trunk 7s. Gt Nor 4%s 76 D.. Great North 5s. Great North 5% Gr North gen 7s Green B & W db B. Havana ERL&P 50. Hud & Man ref 5 Hud & Man aj 6s. .. 111 Central ref 4s. 11l Central 53s. 111-C-C StL&NO 5s. Int Rap Tran 6s... Int Rap Tr 68 stpd. 7 Int Rap Tran 6s... Int Rap Tran 7s. .. Int & G Nor 1st 6s. Int & G Nor ad 6s.. 5 lowd Cent 1st 5s. Kansas City S 3s Kan City 8 5s. . Kan City Term 4s. Lake Shore 4s 31. Lehigh Valen 4s. Louis & N uni 4s Louis & Nash 7s k\dun Ry 1st 90 arket St 7s 40. Mil El Ry & L 58 M St P & SSM cn 4s MStP&SSM5s38gtd MStP & SSM 6%s. MK&T Istds MK &Tadj5s. ... MK&TprinbsA. ° MK&T6sC. GmapmoRsoRRwe Mo Pac 68 1966.... Mo Pac 6s 56 E Mont Trm ref 58 41 Nassau E Ry 4s 67. 16 NOTex&M6sB.. NOT&MbY%s. N Y Cent deb 4s... 3 NYCrfim4%s13 NYCentriss. CentLSecl3 NYChi&StL 5%sA. NYChi&StL 5%sB. NYC&StL6sA.. New Havencd 6s.. 2 N Y Rys 68 65.. Norfolk & W cn 4s. Norfolk & W cv 6s. Nerthern Pac 3s Northern Pac 4s. Nor Pac 435 2047. Northern Pac 53 D. Northern Pacr 1 68 Ore & Callf 1st 5s. Ore Short L rfs Ore Wash 1st rf 4s. Pennsyl con 41 Pennsyl gen 4% Pennsyl gen 5s. Pennsyl bs 64 Pennsyl 6%s. Pennsyl gold 7s Pere Marq 1st 6s. PCC & St L 55 B 75. Port RL & P 5s 42. Por RL &P 65 47.. Por RL&P 7T4s 46. Reading gen §%s. . Rio G W 1st 4s. Rio G West cl RIArk& Ld% St L IM&S 45 29, St L IM&S R&G 4s. StL&SFpl4sA P St L & SFadj StL&SF tne StL&SF pl StLS W 1st4s. StL S W con 4s 32. San A& Arn P ds.. Seab A L ref 4s. Seab A L adj bs. Seab A L con Sou Iacine rer as. . Southern Ry gen 4s Sou Ry con 58 94... Sou Ry 68 56 Southern Ry 6%s.. Term Asso St L 5s. Third Ave ref 4 Third Ave adj 6s... 8 Tol Tr L&P 5%s 30 Union Pac 1st 4s. .. 3 Union Pac 1st rf 4 Union Pac 4s 27 Union Pac cv 6: virginia Ry 1st Va Ry & P 6i Wabash 1st 6s Wabash 538 76, West Maryland ‘Western Pacific 5 Wilkes & E 1st 58.. A [ o BONDS o rcvw] n-gmupmmwmmumsmom Sales. High, Low. Close. 22 106% % a1 00! 80 106% 106% 9% 9% 100 100 80% 80% 98 96% 91% 91Y% T17% 117% 114% 114% £4% T84% 1071 1074 | 105 1065 o1 91 100% 10C% 8% 98% 53 103% 105% 86% 86% 11% 111% U« T1% 86% 86% 90 90% 8% 8T% 96% 96% 4 117 117 854 86% 103% 103% 102 102 103 103 95% 95 95 109 109 9T 91% 50% 80% 199% 99% 69% 70 79% L79% % T1%: 5% T5% W% 5% 82% 82% 110 110 110 110 98% 98% 107 1074 115% 115% 92% 924 .100% 100% 106% 105% 113 118% 18% 19% 9% 9% 86% _98% 8l I81Y% 91% 8l 103 103% 161% 101% 14 14 8% 18% 6% 15% 96l 96% 104% 104% 75% 21 94 4 106'; 166 66k 664 97% 98 9% 9T% 33% B84 98 98 103 105 £6'% 86% $3% 934 101% 101% 103% 103% 105% 106% 9% 9T 59% 59% 9915 99% 105 105 $5% 93% 96% 95% | 104%: 1044 76k T6% 103% 108% 103% 103% 103% 104 % 103% 103'% 2T 21% B2% 82% 53% 631 6% 6% 9% 91% 158% 153% 654 68% 884 884 9214 921 101% 101% 1% 1ls 100% 100% 934 98w 854 854 100% 101 974 974 5 105 105% % 101% 1010 11% 1125 107% 107% 10254 1024 103 103 92 92 101% 101% 107 107 7% 0% 823 93% 96% 924 82y 7% 101% 101% 96% 96% 94 94 “ 107% 1074 1 1% n7% 175 1024 102% 63% 64 564 56% 9% 99% 2% 9% 89% 89% 99%, 99% 102% 102% 102 102 984 98K 103 103 103 108% 2% 12 T 99% 99% 99% L 2% 2% 2% SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) Adirond. P. & L. C. 6s 1029. Alum. Co. of Amer. 78 1933. Amer. Beet Sugar 6s 1935. . Am. Tel. & Tel. Co. 4s 1020. Anaconda Copper 6s 1920 Associated Oil 6s 1935. Balti Ohie Bathieren Secel 81030 Gentral, of Ge 1t i, Mil, & ntis i & Federated Metal ks rih E. Ilg. s e e o 2R 2RRSESSB23BRRE ®RRERE id. O Gffer. 102% 108 % 02% 97% 1025 102% 102% # F s Tinion Pac. R. 7 9; o il Wl ..._u E853! WS FINANCTAL.’ BAD CROP WEATHER GIVES WHEAT B0OOST Unfavorable Conditions in Cana- dian Northwest Have Bullish Effect on Prices. By the Associated Pres CHICAGO, July 30.—Sharp new up- turns in the value of wheat took place early todey as a resu't of persistent urfavorable weather over the Ca- nadian Northwest. Higher quotations at Liverpool tended to emphasize indi- cations of further damage to Canadian crops. Opening at 8 to 2%c gain, the wheat market here fluctuated rapidly, but held a good part of the advance. Corn, oats and provisions were easy, | corn_starting unchanged to 17c off, and later sagging all around. Special notice by wheat traders was taken of crop reports today from Canadian banking sourc: hese re- ports said that in the prairie provinces extreme heat has prevailed with little rain, and tnat crops, particularly on light land, have suffered. According to prominent wheat authorities, tion is the key to the situation in wheat. Not all the experts are agreed, however, that this necessarily means higher prices. One trade leader main- tains that no lower estimate of yield is now probable than has already been made, and that with the worst known a reaction is due. nt Chicago Canadian produc- December RYE— iy 5 December TELEPHONE REVENUES $983,551.61 IN JUNE C. & P. Gross for Six Months Is $5,795,099, Monthly State- ment Shows. Special Dispatch to The Star. BALTIMORE, July 30.—Total rev- enues of the Chesapeake and Potomac Telephone Co. for June were $983 1.61, against $908,910.40 for June 5, an increase of $74,641.21, accord- ing to the monthly statement filed with the Public Service Commission. For the six months ended June 30, to- tal revenues were $5,795,099.23, agai $5.452,212.33 for the corresponding months a vear ago, a gain of $342. 886.90. Total telephone expenses in June were $765,888.69, against $755.- 851.40 in June, 1925, an_ increase of $10.007.29. For six months, expenses ;(]fl_ale«»l $4,559,776.66, an increase of ent to-5.97 per cent erage of the telephong, property for that period. e DEFICIT ON BALANCE SHEET OF W., B. & A. Electric Line and Associated Firms Have Loss for Past Six Months. Special Dispatch to The Star. BALTIMORE, July 30—The con- solidated income account of the Washington, Baltimore and Annapo- lis Electric Raflway, covering opera- tions of that company, the Annapolis and Chesapeake Bay Power Co., Ter- minal Real Estate Co., and Maryland Development and Realty Co. of Anne Arundel County, for the six months ended June 30. last, just made public, reveals a deficit of $12,172.63 after provisions for interest on funded debt. amortization of discount on funded debt, provision for depreciation, etc. This compares with a profit and loss surplus of $33,445.25 for the cor- responding period of 1925, The consolidated summary of in- come and profit and loss in detail for the first half of the year is as fol- lows: 1926. Increase. $1.237.495.10 28106.670.77 Operating reve- nue. . 894.786.64 Net oper. rev. prior to prov. for $342.708.46 o to railway and other oper.... 263.013.7: 2843.657.04 i’ 23.658.51 income 1 to o 327862548 15.581.38 28$39.998.53 1.706.43 Gross for period applicable to int. and funded debt. Deductd from $38 $204.006.86 ns income: Int. on funded debt Amortization * of discount” _on debt. $261.288.01 ~ $3.397.01 fune 25.602.03 22.822.87 Tota! deduc'ns Net income for $309.802.91 x$15.796.06 2$38.070 42 3.62342 37.547.46 LNOTVPELEADE ONEXCHANGE HERE 226 Shares Change Hands in Today’s Session—Price Changes Narrow. BY EDWARD C. STONE. Mergenthaler Linotype stock fea- tured trading on the Washington Exchange today, changi hands during the The stock opened at 105% for 0-share and 10-share lot. Thé best three sal totaled hares and brought 105 After 93 shares sold at 105, seven shares went at 105% dropped back to 105 but advanced to on another 20-share by far the buslest tradi | Sue that has been witness months. Four shares of ¢ stock sold at 10315, Washington Railw Preferred went at s of District stock sold at Peoples Drug long time took | . moving at the strong price of 1041 One hundred shares of Department:l Bank stock sold in the unlisted de partment at €14 Georgetown sold at Washing ias 6s sold in small lo 0 bond brought 1 and % and Nhtional The first sale preferred Washington opened at 823 and while the general and refunding 6s brought 104, i Resigns as Bank Director. Elisha Hanson has resigned of the directors of the District al Bunk, and h ignation h: accepted, informati given out at the today. M Hanson, who is a orney, has apidly growing law practice. and ie ke | well known in the local finaneial ! trict. To many people he is best kn through hi ing fancy being the finest of their class to be found anywhere in the world. Galliher Notes Birthday. W. T. Galliher, chairman of board of di of the American Bank his entieth v vesterday. He received best from a host of friends, while many pro 'd their sentiments with flowers. Mr. Galliher is a very active banker, as is shown by the fact that his Sum mer vacations are much shorter than those taken by most men many years his junior. He has been chairman of the board since the merger of the old American National Bank, of which he was president. with the Federal. The consolidation took place in 1922 Exhibition Coins Arrive. The first shipment of the official gold and silver Sesquicentennial coins sent,to the Capital arrived here by airplane today, consigned to the American Security & Trust Co. They were shipped here by the Franklin Trust Co. of Philadelphia, which has | been appointed the official depository by the exposition managers. The coins are 50-cent silver’pleces and 2.50 gold pieces. The Government permits the sale of issues of this kind at a premium. The silver coins are being distributed at $1 each and the gold pieces at $3.50. Maryland Banks Booming. Aggregate resources of the bank- ing institutions fn Maryland under State controt totaled $593,280,725 on June 80, according to an abstract rendered by George W. Page, bank commissioner. Maryland led all Southern States in the amount of bank resources, ranking just ahead of Florida and North rolina. The 145 State banks and trust companies had assets of $418,687,743 at the close of the first half of the vear, an increase of $9.020,534 over the call of May 4. Deposits were $8.453,675 mowe than May. | Reserve Banks' Assets Gain. The consolidated statement of coj dition of the Federal reserve ban | on July 28, shows an increase of $2 | 000,000 in holdings of discounted bi largely offset by reductions of $1 900,000 and $6,300,000, respectively . holdings of Government securities and acceptances purchased in open market. These changes in bill and security holdings were accompanied by a decline of $9.600,000 in Federal reserve mnote circulation apd an in- crease of $9.900,000 in cash reserves North American Earnings Up. Combined earnings of the North American Co. and operating sub- sidiaries for the 12 months ended June 30 are expected to make extraordinary showing. " Both gros and net, it is said. will be the lars- est ever reported by the system for any 12-month period, with the for- mer topping the $100.000.000 mark. The halance to be shown for the comon, however, .will not reflect the full earning power on the junior shares, since the forthcoming con solidated statement will not include 2 full year's earnings of large prop erties acquired in the latter part of 1925. in New Issues Announced. Offering of a new issue of $1.600.- 000Virginia Public Service Co. 7 per cent series cumulative preferred stock is announced for today by A. E. Fitkin & Co. and_Stroud & Co., Inc. Virginia Public Service Co. and its subsidiaries, Newport News and Hampton Railw Gas and Elec- tric Co.. Charlottesville and_Alber- marle Railway Co. and Virginia Northern Ice Co. furnish electric light and power, gas and ice to 141 communities with an _aggregate surplus_ for Lhi riod . gt surplus at be- 773.080.72 Profit and loss surplus at the close of x812,172.63 2845.617.88 245.242 .84 $760.908.09 $109.624.96 zDecrease. A A GETS CREDIT'IN U. S. British Cotton Mill Breaks Prece- dent by Applying to America. OLDHAM, England, July 30 (#).— A sensation has been caused through- out Lancashire by the announcement that, for the first time in its history, the cotton trade is oblized to resort to forelgn sources for credit. A local spinning company has ob- tained an advance of £50,000 from an American trust company to /avoid making a call on its stockholders. It is rumored that other companies contemplate similar steps to meet the situation, which resuilts from the pro- longed depression. MEXICAN GOLD IN U. S. MEXICO CITY, July 30 (P).—It is learned that within the last two months the Mexican government has sent about 17,000,000 pesos gold to American banks, principally in New York, for deposit to stabilize Mexican exchange, which has been adverse. ‘These shipments are in addition to re- mittances for the payment of the ex- ternal debt. | T xDeficit. Ppopulation in_excess of 228,000, serv- fce being rendered to 43,160 electrical customers and 6,593 gas custome Street railways are operated in New port News and_ Charlottesville. C. F. Childs & Co. will offer next week & new issue of $1,500,000 Denver Joint Stock Land Bank of Denver § per cent farm loan bonds, due July 1, 1956, priced at 103% and interest, to vield 452 ver cent to redeemable date (1936) a=nd 5 ver cent thereafter. Other Financial Notes. A. M. Nevius, vice president of the Riggs National Bank, H. G. Hoskin- son, another vice president, and L J. Roberts, secretary to President Flem- ing, are back at their desks, having returned from their vacation earlier in_the week. The Nunnally Co. reports a profit of $123,000 before taxes for the first half of this year against $70,113 for the same period last year. The syndicate which yesterday of- fered a mew issue of $15,000,000 15- year 7 per cent collateral trust sink- ing fund gold bonds of the Sileslan- American Corporation announces that the bonds have been, oversubscribed and the books closed. 3 PLAN STOCK SPLIT-UP. YORK, July 30 (#).—Stock- holders of Texas Gulf Sulphur Co. will vote September 9 on a proposed change in capital stock from 635,000 shares, $10 par value, to 2,540,000 shares of no par value, and a stock split-up in the ratio of one for four. Harvey S. Mudd has been elected director to succeed his father, Seeley Mudd, who died.