Subscribers enjoy higher page view limit, downloads, and exclusive features.
e me W FIN STOCK LIST SOARS \ WAVE OF BUYING - Upward Sweep—Steel Also Advances. UART P. WEST. to The Star BY Bpecial Dispat NEW YORK, August 3.—In one of the spectacular markets Wall st%er has experienced this year, in dustrial® stocks were swept forward today, many to the highest prices they have ever sold. The outstanding incident of the entire proceedings was the great strength of General Motors which has furnished the sensation all through the upward movement. The highly optimistic statement at Aributed o Thomas Cochran. & part ner of J. I. Morgar, and Co., con- cerning the outlook for the corpora- tion and what could be expected of the market for the stock was all that was needed to encourage further _operations for the rise. General Mo- tors left off last night at 201. Tt opened four points higher today and on an enormous volume of trading was swept forward across 211 before reaction set in. most Influence on Group. ‘T'he great strenzth of General Mo- tors acted as an influence upon others of the group, all of which were car- ried forward for substantial gains. Tupont, because of its holding of the former stock. moved upward sym pathetically. Hudson Motors was car- ried across 7i. hut broke rather sharply after having exceeded this figure. The gain in Mack Trucks ex- rended more than 2 points. Yellow Truck and Coach because of its affili ation with General Motors rose spec- tacularly to the highest prices so far reached. and operations for the rise were active in_Pierce Arrow, Willys. Overland and White Motors. But the motor stocks by no means absorbed all the attention. At the §ame time that this group was rising &harply, enormous buying orders were coming into the market for United States Steel common and other recent favorites. At midday a block of 2.500 shares Steel common changed hands at which represented the highest pri at which the stock has sold. Youngstown Sheet and Tube was looked upon as the best of the inde. pendents, A it established a new high for the year, and compared with the Monday final of $9%. Crucible &teel. Republic and United States Cast Iron Pipe also bore their share in the fmprovement Allied Chemical Feature. It was evident. from the action of the industrial shares generally that the speculative element was paying more attention than it had heretofpre to the optimistic statement coming from prominent quarter concerning the outlook for the future. Shares of companies whose earnings are favor- able and stocks in which special de- velopments are thought to be pending were in urgent demand, and little dis- position was shown to fight the ad vance. There appeared to be no top for Al- lied Chemical. At 14115 it was carried up 2 points on the day, and within a fraction of its best figure reached on the recent upturn. .Texas Gulf Sul- phur, which had been held in check recently by profit-taking shot across 1701 American Safety Razor estab- lished a new high record around 67, the equipments, under leadership of American Brake Shoe and Baldwin Locomotive, rose sharply, while cop- per and smelting shares came in for more attention. As the session progressed the ex- citement quited down, and in the afternoon trading assumed a normal character. Some of the leaders among the industrials came off from the best prices, but the declines were slight. U. S. Cast Iron Pipe was given a whirl, the rMse extend- ing 8 points. U. S. Steel common sold at its highest prices in the late afternoon. CLOSING IS § of 150, STRONG. Urgent Demand l«w Inrurmem Stocks Develops in Hours. NEW YORK, August 3 (P).—The| olosing was strong. An urgent demand | developed for high-priced investment | stocks in the final hour, when United States Steel common was carried more than 4 points above last night's closing levels 1o a new top above American Brake Shoe & Foundry, 1'nited Drug and Postum Cereal all sold 4 or more points above yester day’s final quotations. Sales approx- imated 2,800,000 shares. Markets at a Glance NEW YORK, (®). Motors and el at new n!l»tl\fi Granby Mining exchanges firm; tocks strong; United States Bonds irregular; strong. Foreign franc continues re- improved weath- . Sugar firmer; better spot demand. Coffee steady: trade buying. CHICAGO.—Wheat steady: unfavor- able Canadian reports. Corn higher; less favorable crop prospects. Cattle | steady to higher. Hogs eas) ckers inactive. RAW WOOLS ACTIVE. BOSTON, August 3 (Special).—Raw wool markets were moderately active today at fully maintained price levels. Tremand still centered in fine and fine medium _territory wools, with good inquiry for Texas‘wools. Fleece wools and pulled wools are slow. FOREIGN EXCHANGE. (Quotations furnished bs W. B. Hibbs & Co.) oiaminal Selling checks old value. ~_ todar London. pound S0 seBol Montrea). " dollar 1’00 ‘rane. Tranc.. ¥ 5 (o:»nnum ~erown... o, crowi Stocknolm Stack of rece Mg 16 o 1) Au 16 HigH ot’ g 12 S L (n ’Hm o FEDERAL I.AN'D BANK BONDS. (Quoted by Alex. Brown & Sons. Closing) General Motors Agam Leads | ANCIAL Abrahm&Straus. Adv. Rumley. ... Ad Rumley of(3) Ahumada (v1).. i Alr Reductn(15) | AJax Rubber Alaska Junea Albany Paper Albany Papr pf 7 Allis Chalm 0).. Allis Chal pf (7) Amal Leather. . Amerada (2) Am Agricul Ch Am Agri Ch pf.. Am BK N pf (3). Am Beet Sugar Am Boseh. .. Am Br Bov Bl(2) Am Can (2)..... Am Cha'n A (2). Am Drue. Am & FoP pt(is Am Hide & L pf. Am Ho P (2.40). Am Internatl Am Linseed. Am Linsd pf (7). Am Locomot (8) Am Loco pf (7). Am Metals (4).. Am Po&Lt (g1). Am Radiator (4) Am Safety R (3) Am Sm & Ret (7) Am S & R pf (7) Am Snuff (12).. Am St] Fdys (3). Am Sugar (5)... Am Sugar pf (1) Am Sumat A efs Am Tel & Ca (5) Am T)bacco (8). Am Tobac B (8). Am Tobad pf (6) Am Wa Wo e1.20 Am W W 1st (7) Am Woolen. ... Am Wool f (1). Am Writ Pa pf.. Anaconda (3). ArmourDel pf(7: Armour of I11(A) Armour of 111(B) Arnold Con (n). Asso Dry G(2%) Asso DG 2d (7). Asso Ofl (12.40). Atchison (7).... Atchison pf (5). At] Birm & At.. Atl Gulf & WI. Atlantic Refin, Austin-Nicho! ‘Baldwin L (7). Bang & Ar (3).. Barnsdall A (2). Barnsdall B (2). Beech-Nut (13). Belding Bros(3). Bethlehem Steel. Beth Stl pf Bloomingdal Briggs Mfg (3) Bkin Edison (8) . Bkin-Mn Tr (4). Bkin Un G(t11). Brown Shoe (2). Brunswick Balk. Brunswick Ter Burns Bro (10).. Burns Br B (2). Butte&Super(2). Butterick. ...... By-Products (2) | Calif Packing(8) Calif Petrol(2).. Calumet& Ar(8). Calume&H(1%). Case Thr pf (7). Cent Leather.... Cent Leather pf. Cerre De P (4).. Chand-Cl Chand.Cle Chi & Alton..... Chi & Alton Dl Chi Great West. Chi Gr West pf.. ChiMN&StP.. Chi M!1 & St P pf C Mil & St Potfs Open. 484 12% 504 8 128 8% 1% 27 98 89% 110 16% 20% 21 Am Brake Sh(6) 131% 143 ‘1!"- 40% 62 Am Car&Fay (8) 100% 100% 26% l"l' 2 Il 374 26 344 32 % 104 116% 53% 70 111 6512 136 120 1281 45% 704 108 a2 294 121% 120% 111 62 Il)fi 1 50 L0 14% K 28 41k 104 52 189% 994 “ 41% 1154 12% 122 42 256% 24 59 30 46% 103 30% 29% 148 28% 4 1 136% 35 Burroughs (14). 101% 101% 10% 49 b7 T4 334 691y 16 113% 8'a 54 70 12% 28% 8\6 10 24% 11 18 10% - 14 Low. Close. 48% 484 12% 13 50% 51 8 ] m». High. 48'% 18 51 8 128 M 1% 27 98 Alited Chem (4). 138% 143% 90 110 6% 142 6l% 100% 25% Aua. 50« 264 L 125 4 l"S % 21 105% 116% 53% 70 11t 67 1874 120 128% 47 % 108 33 29% Am Tel & Vel(9) 143'% 1434 122 121% 111 62 106 24 2% 1 50% 940 14% T 28% 43% 104 52 140 9% L At1C Line(19%) 2264 229 Al 117% 13% 124% Balto & Ohlo(5). 101% lollfi | Goodyr pr pecs). Gothm 8 H (2%) Gotham S H new Gould Cou (2). Granby Consol. . Gt Nos Ore (1%) Grt Wstn Su (8) Gt West S pf (7) Green Canan.... Gulf Mo & Nor Gu M & N pf (6) Gult States 8 (&) Hartman. .. Hayes Wh(13%) Househd (13%). Houston Ofl. ..., Howe Sound (3) HudsonMan (2%’ Hud Man pf (5). Hudson Mo(3%) Hupp Mot (1)... Ulinots Cen (7). 11 Cent pf (6).. Indep O11 (1)... | Indlan Refining. Indian Refgctfs. Inland St (2%). Inspiration (2).. Interurb Rap Tr. Intcont: Rub(1). In Ag C pr pf(7) mt Bus Ma (3). Int Cement (4 Int Cement rts. Int Cement pf(7) Int Com Eng (2) Int Harvstr(8).. Inter Har pf (7). Intditeh pf(3.20) 15t Mer Mar pf. Int Nickel (2) Int Paper (2)... Int Ry CA pf Int Shoe (6) int el & Tei (§) Jones Bros 1ea. Jordon Mot (3). n City South. Kinney G R (4). Kinney pf (8)... Kresge 88(1.20) Lago Oll & Tran. Lambert (3%).. Les Tire & Rub. Lekigh Val(3%) Leh&1™ink stf(3) Life Sav (1.60).. Lig& M B (14). Lima Loco (4).. Loew’s Inc (2).. Loft. Long Bell A m Loose Wil Lorillard(3) Lou&l\uh("%) Ludlum Steel (2) Mack Trucks (6) 103 30% 31 29 29 148 148 64 64 93 93 36% 6% 28% 284 14° 14 136% 137% 3 35 101 u 48% 37 3% 108% 31 29'% 28% 137% 35 1 50 57 i 334 Tl 16% Can Pacific (10). 164% 164% Case Threshing. 141% 143 114 o b 70'a Certain-Teed(¢) 46% 47 12% 32% Ghes & Oh (112). 1k 140 8% Chi& East Il pt 4l 41} 10 2 9% 24% 2410 11 184 18 104 10% CMiI&StPpfefs 17% 17% 17% Chi & Nwa (4).. chibl\w pt (7). RI& Pac... CRILPD! ON CRI&PDI(T). Childs (32.40)... Chile Cop (2%) . i Cluet Pea pf (7). | Coca-Cola (1) | Collins & Alkmn | Col Fuel & Iron. | Col Gas & E1 (8) Col Carbon (4).. Com Cred (2)... Com Solv B Congoleym-| Consol Cigar.... Cont Can (1! “ont Insur (6).. | Cont Mot (80¢).. Corn Prod(12%)’ | Coty Inc (4). | Cructble st (6). | Cuba Cane Sugar | Cuba Cane Su pt. AmS ). mel Fr (4). Davison Chem.. Del & Hud (9).. | Del L & Wn (17) | DRG Wstpf... Detroit d (8). . Devoe&Ra(2.40) | Dodge Bros Cl A Dodge pf (1)... Dome Afines (2). Douglas Pec (1). Dupont (119). .. Dupont deb (6). Eastman (18)... Eaton Axle (2).. 11 Auto Lt(16%: Electric Boat. .. Blec Power & Lt | EP&Lpf 40% (1) Eiec P& L pf(7) Elec Refrig(2). Kleo Sto BAt(16) End-John (5)... Engineers Pub S | kquitable pf (7) Erie R R. Erfe 18t pf. Lrie 2d pf. . | Eureka Vac (4). Famous PI (J2). | FeaLight(*1.40) Fed Min pf (7). Federal Truck | Fisk Rubber. ... FiskR 1st pf 8(7 | Fleischmn(f2%) | Foundation (8). Fox Film A (4).. Kreepasi-Texas. abriel A(T4%). l'gml-ux- Motor.. Gen Am 'rnk @) Gen As) Gen Cigars 0 Gen Elec (112). . Gen Elec 5p(60c) Gen GEE A E1% Gen Gas pt B (T) Gen (116) Gru Mot pf (7). (Gen Ouidr Ad(2) Gen Outdr A (4) iy Sk 1% | ¢ uvm Dust. Goodrich Ru (4 Goodrich pf (7). 3 121 58% 89% 100% 62% 34% 112 169 44% 4% 85% 62 28 165 26% Congress Cgr(3) 42% 42% Gfih 109 1% ' 82% 131 45 . §50% 5% 9% 381 51 6% 36% 166 146 434 137w 39% 33% 8% 11% 29% 292% 106% 114% 29% 66 6% 20% 106% 96% 68% 23% 120 34! 116% 0! 32% 6% 49% 72 50% 88% 1% 42 95 205 3% 2% 121 121 58% 567% 80% 89% 101 100% 52% B2% 34% 34 Chrysler Corp(3) 37% 38% 36% 12 112 161% 159 44% 43% Collins&Aik pf 7. 104% 104% 104% 4T 4d% 6% 844 Col G & E pf (7) 116% 116% 115% 63 62 28% 28 Com Cred 1st 6% 91% 91% ., 91% 165 ‘162 26% 244 42% 59‘4 ssv. uw l01h 1% 1% 84 B2% 182% 131 10% 44% o652 50k % 5% 9% 9% 39 38% B1% 50% 1n 10% 6 2% 46% 146 4 36% 306% 166% 165% 146% 145 434 48y 137% 187 39% 39% 34% 33 88% 88 11% 294 2924 106 106% 114% 114% 24 120 34\ 34 43% 42% 40% 40 63 02% 116%" 1154 30% 8% 25% ! 18% | 80% 72% | 807 8% 1% 42 Macy HR & Co. Magma Cop (3 Man El gtd(D5). Man El Sup(5%) Man Shirt (1%). Maracaibo Oll. .. Marland Ofl (4). Marlin Rock (2). Mathieson (4). . May Dept St (5). Maytag Co (2).. Mexican Seabd. . Miami Cop (1) Aid-Continent. . Miller R ctfs(2). sfinn & St Louls. Min St P& SSM. Mis Kan & Tex. . Mo K & T pf (6). Missour! Pacific. Missouri Pac f . Montana Pow (5) Montgom Ward. Moon Mot (3)... Mothr Lode(75¢) Mo Plcture(1%) Motor Met(3.60). Motor Whi (2).. Kullins Body ... Murray Body... Nash Mot (13).. Nat Acme (sta). Nat Biscuit t4% Nat Cash Reg(3) Nat Cloak & Suit Nat Datry (3)... Distillers Nat Distillers pf Nat Lead (8)... Nat Po& Lt(40e) Nat Supply (4 Nevada Cop (1). NY Alr Brake(2) N Y Canners C2. NY Central (7). NY Chi&StL(11) NY NH & Hart.. NY On & West. . ¥ Rys 2d stpd orfolk South orfk & Wn (18) Orpheum Clr(l) Otis Elevator (6} Otis Steel. ... . Outlet Co (3% ) Owens Bot (t4). Pacific Gas (8).. Pac Ofl Stubs. ... Packard (12.90). Paige Mot(1.80). Pan-Am ( Pan-Am B (6)... Pan.AmWnB(2) Panhandle. Park & Tilford. . Park Utah (8vc) Pathe Ex (c3) . Penick & Forad. . Penick&F pf(7). Pennsy R}t (3). Penn-Seab Stee! Peoples Gas . Pere Marq (18). PhilaCo (4).... Phila& RC&I. Philip Morris. .. Phillips Pet (3). ! Phoenix pf (7). . Plerce-Arrow. . . Plerce-Ar pf (8) Pierce O11 Plerce Petrolm Pitts Term Coal. Pitts & W Va(8) Postum (6)..... Pressed Steel(n) Prod & Refiners. Pub Ser NJ (5). Pub SE Po pf(7) Pullman Co (8). Punta Aleg Sug. Pure Otl (1).... Pure Oil pf (8) Radio Corpof A. Radio C pf (3%) Ray Cons Cop (1} Reading (4). Reading res. . Reid Ice Cm (3). Remington Type | Replogle Steel. . RepIr & Stl (4). I Rep1&Spf (7). | Reynolas Spngs. | Rey Tobac B(6). i '\onl D(al.389) Rutland of . Safety Cable (4) St Jaseph !-fll). ‘StL & SanFr ( StL-SanFr pt(1) St L Southwest, poard s-.u Afr L pf 9 9% 95 2134 2033 213% | um Tlat 118% Sst 34 55% b6 by A8h Seagrave(e1.20), Seurs-R 1 (2%). Seneca Copper) . | Suattuck ¥ Gi2) ! Sue.. Un (1.40).. Shubert Thea! mmonst 2. Grt North pf (5) ” Open. 107% 49 49% 17 241 Ta% 20 % 115 20% 36% 106% T4% 27% 33% 3% 60% 38% 12216 1224 1200 2T itn 10% 4z % 104 8% 129 124 63 304 135% 36 126% Panhandle pf... . 109% 103 86% 112 177% 34l 27% 110% G -STAR. WASHINGTON, D. C. TUESDAY, AUGUST 3, 1926 NEW YORK STOCK' EXCHANGE Received by Private Wire Direct to The Star Office . Low. Close. 107% 107% 4 9% 620 1670 us 8 13% 24 4% 39 13% 100 b6% ~ 68y 96 54 2% 24% 1% 28% 13 K 60% 8 \DEALINGS LIGHTER IN BOND MARKET Principal Feature Is Strength of Foreign Obligations. Oils Dq Better. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, August 3.—Trading in honds was in small volume and price changes were irreguldr in today’s mar- kei. Speculative attention was con- entrated entirely on stocks and little nterest was shown in fixed-chiarge ob- ligations. The principal feature was the strength in the foreign list, especially French bonds. Here there was the same confidence in evidence as on the day before. French 7s stood out, crossing 91, within a fraction of the vear's high. Demand for this issue was particularly good. Belgian bonds were moderately higher. In the domestic group some of the oils did better, notably Sinclalr 7s. Sinclalr’s half-yearly statenient, issued today, made a highly favorable com- parison with the same period in 1925 al tractions re barely steady. w Virginia Coal and Coke 63 dropped back a point again. (iranby Mining 7s were strong. establishing a ! new }}:gh for the second day in suc- cession. In the railway group Inter- national Great Northern adjustments i held around their new top and there was more buying of Missourl Pa- cific 4s. The leader in the steel honds was Trumbull 6s. which got to 99 for the first time on the movement. Bethle- hem Steel 5las were well Rock Island refunding 4s were firm, around the best price of the recent re: covery. Today's new offerings included $300,- 000 additiona) issue Martel Mills, Inc., first mortgage 648, series B, with stock purchase warrants, 9412, 10 vield 7.20 per cent, by Peabody, Houghteling & Co. 4 PLANS OFFICE BUILDING. NEW YORK: August 3 (#).—The Missouri Pacific Railroad Co. has an nounced the completion of plans to erect in St. Louis tie most modern railroad office building in the West The structure will be 17 stories high and will cost $2,000,000. LOSS Is REPOB.TED NEW YORK, August 3 (). American Hide and Leather Co. re- June 30 of $149,506 after interest, taxes and depreciation. This compares with a net mrofit of $1,4 ceding quarter, or 1 pe; on $11,048,300 of prefel the second quarter last year. loss cent a share he first half of this year was $148,037. compared with & net profit of $305,113, or $2.43 a share on the preferred stock, for the first six months of 1925. TREASURY CEETIFICATES (Quotations furnished by Redmond & Co.) fler 4 i 100 101 3548 1011137 a3 132% 107% 11 344 34y 133 244 133 107% 12 31% Skelly Ol1 £2). 8 Sheff (8) South Port 8 (l) Sou Cal Edison. . Sou Dalries A(4) Sou Dairles 3... South Pac (%). . Southern Ry (7) South Ry pf (5). onv | Spicer Mfg. .. ... 1o% | Std Gas&EI (g4) 24% 68% 17% 4l 161 22% 65 13% 40 46% 136% 4 179% 46 24 12 354 166% R4% b3 14% 964% 17 4 114 ¢ 9% 59% 97 6% 9% Bty tw Sud G & El p2(4) Std Ot Cal (2).. StdOIINJ (1).. Std Oll NJ pf(7). Sterling Pro (5). Stewart War (6) Stromberg (8) Studebaker (5). Superior Ofl... Superior 8t1 (2) Symington..... Symington A(2) ‘Tenn Copper (1) Texas Co (3)... Tex Gulf 8 (19). Tex & Pacifle. .. Tex & PacC& O *Tex Pac Ld Tr. The Fair (2.40) Third Avenue Tide Water(1%) Tide W Oll pf(s) Timken (14).... Tobac Prod (7). ‘Tob Prod A (7). Transcont Oll. .. Underwood (4).. Un Bag & Paper. Un Carbide (5).. UnoOfl (2)... Un Pacific (10). Un Tank Car (5). Utd Alloy (2)... Utd Cigar S(c2) ‘Utd Drug (8)... UtdDrg 18t(8%) United Fruit (4) USCIP&F(10) U S Distributing { US Hoftmn 1315 . U S 1nd Alcohoi. U S Realty (4).. U S Rubber..... U S Rub 1st (3). U 8 Smelt (3%). U S Steel (7).... U 8 Steel pf (7). U S Tobacco (3). Universal Pipe. . Univ Pipe pf (7) Ut P& Lt A (e2) Vanadium (3)... Vick Chemical. . Va-Caro Ch(n).. Va-Car Ch p(fl) wuudo 37 !D‘t 6% | 50% 13% 32% | w-mh Dt A( Waldort (1%).. Walworth (1).. Ward Baking B. i wut Pacific. ... West Uinion (8). Westinghse (4). | West A Br(i6%) Weston Elec. ... Wheel & L Erie. { Wheel & L Epf. White Eagle (2) White Mot (4).. White Roek (2). White Sew pf ... Wickwire ctfs. . wmn-ourlnnd Wwillys0d pf(7) Woolwv.hFW(tH Worthn Pump. .. ‘Wright Aero (1) 88 wrig Wm (14).. 68 6% hvrrscvlfl) 101% lol‘ 101“ Youngstown 4) 89% 4% l?vlfllld rates as given in the above ‘Ih‘l e ":'.-*h pie b e e otherwise noted. special di e *Partly "';\-. s S At M‘"»I auart: P ~ 5% 101% 89% ot 3% Im- i 5o qu.rler when =are ut 25 »%‘-’t'-a oo, ; 3 'k e .'.f‘?;'.“.f":*“ ZE” % Pl 2-50 & | Dutch East 1 { Finland s f 6s 45 bought. 2 ' { ~The | ports a net loss for the quarter ended; for the pre-! ed stock for| The net | 8| 90 | e 'P-ccuur.ln NEW YORK UNITED STATES. |s.1e- Ll in $1.000.) s. High. Low. Close. l7| 101 17 101 14 101 14 1024 1022 101 6 _Lib 4th m- 48 102 19 102 15 102 15 “Uss 110116 10118 101 16 5 108 26 103 26 103 26 2 10824 107 24 107 24 FOREIGN. Sales. Hu’h Low. Close. 99% §9% 5% 98l 9% 99 Lib3%s. Liv1e A% " B'?\: 99% Canaca 58 1952 Canadi. 6%s 1929, Chile 78 1943 Chile 85 1941 Chile 85 1946 Chinese Gov 109% 400 954 100 % 101% 99% 102 102% 111 Czecho 7% rets Czecho 8s 1961. . Czecho 8s 1952 ct. . Danish Munic 8s B. Denmark 6s. DE16%s Mch 53. D EIn §%s Nov 63 Dutch East 168 47. 102% 1 102% 103% 108% 106% 105% French 8s.. | German EI P 613s. 1 German 7s. Gor Agr Bank 7s Ger Gen Elec 7 Greek 7: Haliti 68 Hungary 7% Italy 7s. B Japanese 4s. Japanese 6% | Lyon 6s. | Marsellle 6 Mexico 45 04 asntd. Mexico 4s 10 asntd Mexico 58 assented Norway 65 1944 . Norway 63 1952. .. Orlent Dev deb 6s.. Paris.Ly-Med 6s Paris-Ly Med 7s Paris Orleans 7s. .. Peru 7%s Perufs. ... Poland $a. . Prague 7%3. | Queensiand 6s. . | Queensland 7s. { Rhinelbe Un 7s_ ... | Ro de Jan ¥s 1946. | Rlo de Jan 8s 4 | Rio Gr Do Sul 8 Sao Paulo City 8s.. Sao Paulo 85 1936. | Sao Paulo 1950 | Saxon (PW) 7s. Seine 78 42. . Serbs Crot Slo | Sweden 5%s ct { Sweden 6s. ... | Swiss 518 1046 Swiss Confed 8s. .. | Toho Elec Power 7s Toklo 55. Utd King 9. Utd Kingm 5%837. 9 1054 MISCELLANEOUS. Ajax Rubber 8s.... 5 108% 1034 Am Agri Chem 7%s 80 104% 104% Am Repub deb 6s. 100 100 Am Smit& R 1st 537 6 1003 100 Am Smlt& R 6 AmT&Tecl tr 4 AmT & %' ¢l tr 5 AmT&Tsfbs... AmT& T deb5%s. Am Writing Pap 6s | Beth Steel 6% 63. Beth Steel 6s...... | Brier H St 15t 5% { Bklyn Ed gen 5s. .. Bklyn Union 5% Calif Pete 6 Chile Copper Commonwl!th Coa Coai Md 18t & Con Gas N Y 5%s. . Det Edison 58 40. . Dodge w 1 6: Donner Steel 7. Dugquesne Ligh! Est Cuba Sug 1% EmpireG&F 7 Goodrich 6% Good year 8s 1931 Goodyear 8s 1941.. Hershey 5% Hoe & Co 6138 Humble O & R Inois Bell 18t 6s. llitnols Steel 4 Int Mer Marin: Int Paper bs 47... Kan G & EI 6852, Kelly-Spring 8s Lackawa 8 5 50 | Lacl G ref 58 3 | Liggett & Myers7s Loril'ard (P) 5s... LouisvG & E M1d-Con 6%s 40 Midvale Steel bs. Montana Pow 68 Mor's & Co 18t 4348 Pan-Amer Pete 6s. Phila Corf 68 A Phila & Rd C&16s Remingtn Arms Sinclair O] Sinclair Of Stnelair Oil Sin Crude Ol Sin Pipe Line Skelly Ofl 6%, So Por Rico Sug 78 Southwest Bell Sug Est Odent 7s. ‘Tenn Elec Pow 68 U'S Rub 1st rf 5 1024 102% 88y 9S4 105 104% 93% 084 107% 106% 106% 105% 9T%. 974 93% sdly 59 M4 5 B0t B0l Utah Pow & Lt 5s. | Vertientes Sug 78 warner Sug 7s 29 Warner Sug 78 41.. | | Mstp&ssSM5sasgrd . Sales, Willys Ov 6%s 33 Wilson & Co 1st Youngstn § & T 6s. 4 IN‘G 98% 104% 8% RAILROAD‘ Atchison gen Atlantic C Ll 4s. . (l Atlantic CL 1stds. 1 At1 & Dan 1st4s48. 9 Atl & Dan2d 4s48.. 1 B & O gold 43 B& Ocvi%s B & Oref bs. B&O 1st B&O6s... B&Orf imp b & O SwDIiv Ruff R & Pitt 4% Canada South 5s. .. Canad North 78 Canad Pac deb 4s Central Pacific 4s. Cent Pac 1st 55 90.. Ches &£ Ocv 4%s. Ches & O gn 4%s Ches & cv bs. .. Chi & Alton 3%s. .. Chi Great West 4 CM&StP4s25. C M & St P 4s 25 cf: CM &St Pdbds. CM&StPdeb 4scfs. CM&StPgns). .. CM&StPev4ks. CM&SPev4 Y s32¢fs 2 CM&StPgnd%s. COM&StP r 4%8 cf14 CM&SP cv 5s cfs 14 CM&StFevss. CM&StPés Chi & NW gn g Chi & NW gen 4s.. Chi & N W ref 5s Chi Rysbs... ChiR1& P gnés ChiRT&Prfds... ChiTH&SESs... Chi & W Ind cn 4s. C& WI5%s62 CCC&StLSs CCC & St L rf 68 Ciey Term bs. . Cleve Term 5%s... C&S1istds29. Cuba R R b8 Cuba RR7%8. Cuba N R 68 66. Del & Hud cv 58 35. Den & Rio G cn 4s.. D & Rio G imp 68 D Rio G West 5t Erie gen 4s. . Erle conv 48 A. Erie conv 4s B. Erleconv4s D.. Erie cony ext 7 Fla EC 5s 74 Gr Trunk sf dt 8s.. Grand Trunk 7s. .. Gt Nor 4135 76 D... Great North 5%s. Gr North gen 7s. Green B & W db B. Havana ERL&P 60. Hud & Man ref 5s.. Hud & Man aj 58 1! Cen 45 63. 111 Central 5% Int Rap Trin & ! Int Rap Tr 6s stpd. Int Rap Tran 6s. Int Rap Tran 7 Int & G Nor 1=t 6s. Int & G Nor ad 63.. Kan City § 68 Kan City Term Lake Shore 4s 28 Lake Shore 45 31 Lehigh Val cn 4s Louis & N uni 4s Louts& N5s B Loyls & Nash 7 Man Ry 1st 90. Market £t 78 40 M1l EI Ry & L bs. .. M & St L 1st rf 4s. M St P & SSM 64s. MK&TadjSs.... MK&TprinbsA, Mo Pacific gen 4s. . Mo Pac 6= 1965.... Mo Pac 6s 49 D. Mo Pac 6s S5 E. Nassau E Ry 43 57. N O Tex& M in5s. —o o IS S RN 1 P TN m e D N ¥ Cent deb 6s. .. N ¥ Cent LS ¢l 3%s NYChI&SIL 5%8A. NYC&StL6sA. New Hav deb 45 56. New Havancd 6s.. NYOnt W ist4s.. N Y Rvs 6s 65. N Y State Ry 4345, N V'W & Bos 4%s. Nor & S zen 58 54... Nerthern Pac 3s .. rthern Pac 58 D. Ore Wash lst rf'¢ Pennsyl gen 4% Pennsyl gen 5s. Pennsyl 58 Pennsyl 6%s. Pennsyl gold 7s. .. Pere Marq 1st 58 PCC & St L5s B75. Port R L & P 53 42 Por RL & P 65 47. StL IM&S 4229... 2 St L IM&S R&G 4s. StL&SFpl4sA. StL&SF prinss tL&SF5%sD.. 2 tL&SFadjés.. (8 StL&SFinces... StL&SFpl6sC.. StL 'S W con 4s 32. StP & KCShL 4%. San'A & Arn Pds.. Seab A L ref 4 Seab A L ad) bs. Sou Pac 48 29. Sou Pacific elt Sou racine re Southern Ry Southern Ry 6% Suu Ry Mo &0 4s.. Texas & Pacific 1st Union Pac 1st 48 Union Pac 1st rf 4s Union Pac 48 27 Union Pac v 6t virginia Ry 1st 5s. | west Maryland W | Wheel & LEcn4s. 1 FEATRIEIES (, g‘rfl 5 xumm. I 628 1032 LSt P &S, S/ M. xo'i-c BR Co. irm Central D 1id jern Union \\'e |In:|\rm e 100% 100% 124 1124 West Elec 58, .. ... Westn Union % s. ‘ H I Innocence 18 wost fortunate if it| ' nds ho-SameaDICiection a5 Grimes hort Line de 1029, 93 s 92% OZ‘/: 83 54% B50% | Bk 164t ONDS o] Received by Private Wire Direct to The Star Office. . High. Low. Close. | 1 IOZK 1024 1024 1 ¥y 104y | 93 91 1027 103 107 95 109 91 113% $0's 99’ 70 1158 20 98Y uF £t 78 985 104 109 77 103! 2 103 864 8BS $1's 91y 831 83% 10715 1071 11t ll'l‘i 17| © 88% S = S2EES 532233555233 PSPOLE SIS, ) oo nmiuz & =e PR | 103%5 73 27! 63 111 92 SHORT-TERM SECURITIES. (Quotations fursished by Redmong & Co.) i ——Noon.— 3 SR R FE FEEEPSES ST 3233325332 2cso00 F23% 113 106 FINANC \WHEAT PRICE RALI.IES, ' AFTER EARLY DROP| | v+ | Friends of Higher Prices Seem In-| clined to Be Cautious and to | Buy on Declines. %] | By the Amsociated Press i CHICAGO, August 3.—Lower quota- i tlons at Liverpool, together with con- | tinued notice of bearish estimates of | the domestic Winter crop, did a good : deal to bring about a firesh setback in wheat values today during the early dealings. Wheat buying, expanded on | declines in price, however, helped to rally the market. Opening 14 to 1% lower, wheat recovered in some cases to the same as yesterday's finish. Corng oats and provisions were easy. corn starting unchanged to !4 off and |later eeping within fractional limits. ‘ Increasing supplies of wheat in Chi | cago and at other domestic Winter | wheat terminals acted as a weight oo values today. Friends of higher prices | appeared to be cautlous for at least the time heing and disposed to pur- ) | chase only on setbacks in the mar ket. Opinlons were expressed from | | various sources that the peak of de- | mand from domestic millers had been reached. According to some advices at hand the world breadstuff outlook has heen greatly improved. The chief reasons glven are the increased estimates of North American crops and reports of beneficial rains in Canada. On the other hand European new crop pros pects are about unchanged, and good- | sized continental European import ‘re- quirements are looked for. WHEAT— September December CORN— September December OATS— | September 1308 a0, Wz, 455 September . Degember cid 22 WELI.S COMPLETED %| NEW YORK. August 3 (Special). | Phillips Petroleum announced it has | successfully completed 22 producing % wells in Kansas, Oklahoma and Texas in the past week and that its total i rduction reached a new peak 3 barrels. Gross production 0 barrels from over 2,000 is is more than double the average daily production 5 | % | was | wells. ENGINES NEED REi’AIBS. SW YORK, August 3 (#).—Loco % | motives needing irs on July 15 totaled 9.709, or 15.5 per cent of those | |in operation, says the report of the m American Raflway Association. This |is an increase of 481 over the number 1 | needing repairs July 1 i % gl g COTTON GOODS ADVANCE. ’ NEW YORK, August 3 (Special).- Cotton goods markets were active to- | | day at advancing prices. Print cloth | quotations were pushed up an eighth of a c to 7% for 64x60s and S& for 68x taw silks were fairly active and unchanged. S ~ WILL OFFER PREFERRED. | NEW YORK. August 3 (Special). 7{ | Purecold Products of America, Inc.. | a company organized to do a general | business of manufacturing: and tributing new types of iceless refrig | erator devices, is planninz to offer | the near future a new issue of 5.000 shares of common stock out of an authorized issue of 250,000 shares fully paid and non-assessable. The company has no bonds, preferred stock or funded debt. BUTTER IS KIGHEB CHICAGO, August 3 (®).—Butter- Higher; receipts, 15,052 tubs; creamer: | extras, 381;: standards. 38%: extra firsts, 371,a37%; firsts, 35'2a36; sec- onds, 33a34 RUBBEB. LOWER. %| NEW YORK, August 3 (Special).— % | Crude rubber, smoked ribbed sheets, % | declined % at today’s noon quotation of 381;. This compares with 41 a month ago and 96 a year ago. —— DIAMOND MATCH CO. NEW YORK, August 3 (#).—Net income of $822.261 after depreciation, amortization, Federal taxes and other charges, equal to $4.89 a share on | $16,800.000 of stock. was reported | the Diamond Match Co. for the s months_ended June 30. During the first half of 1925 the company earned $5.01 a share on $16,965,100 of stock. BONDS TO BE CALLED. NEW YORK. August 3 (#).—Cor- porale securities which will be called for redemption in advance of matur- ity during August total $121,294,000 par value, compared with $103,631,560 in the preceding months _and $98,803.000 in August last year. Many | high finterest bearing bonds issued | during the war and immediately after will be called at premiums and in some replaced with obligations of lower coupon rates. COPPER DELIVERIES. NEW YORK, August 3 (#).—Do- mestic deliveries from primary cop- per refineries in the second quarter of this year totaled 226,433 tons. says the American Bureau of Metal Sta- tisties. Deliveries during the first three months this vear were 226,808 tons and for the second quarter last year, 194,17 PRICES ON PARIS BOURSE. PARIS, August 3 ().—Prices moved irregularly on the Bourse today: 3 per cent rentes, 50 francs 80 centimes; ex- change on London, 183 francs 25 cen- times: 5 per cent loan, 53 francs 75 centimes; the dollar was quoted at 37 francs 74 centimes. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY | CHICAGO, August 3.—Beef trade is showing some recovery from its ex- | treme slowness. Prices are about steady. Pork trade continues slow at about unchanged prices. PORTLAND.—The mills of the West Coast Lumbermen’s Association in the past week produced 104,719,755 feet. sold 112,936,279 feet and shipped 10 398,588 feet. Figures so far this year show a gain in production and sales as compared with 1925, CUMBERLAND.—The Consolidation Coal Co., chief producer in the Georges Creek territory, is exporting about 200,000 tons of coal & month, chiefly through Baltimore. This is the result of the British strike. Other producers are active. ' > TURLOCK, Calif.—Cantaloupe grow- ers of this section have had an un- profitable season. Under heavy ship- ments prices dropped to where cost of production was barely covered.. Oth- ev fresh fruits and vegetables are in héavy supply in West Coast markets. PITTSBURGH.—Pipe mills are. be- ing crowded to make deliveries of oil country tubular goods. Phey will not promise deliveries on new orders un- der four Lo five weeks. Mer':hln& pipe . 1 % | o &l % ! President | the {cial subjects and his | dition which | rectors were elected far IAL. J.B. LARNER HAS b8TH BIRTHDAY of ~ Washington Loan and Trust Has Led an Active Life in Capital. BY EDWARD (. STONE. Johh B. Larner, president of Washington Loan and Trust reached his sixty-eighth birthday day, passing the milestone quietly his ‘Summer home in southern Penn sylvania and thus denying his friends the opportu flower Mr. extremely active 4 guldance the trust company has made splendid strides. After being the bank's vice and genera counsel* from he elected to the pre John Edson becoming man of hoard rlv in life law appealed to M Larner more than financ graduated in 1879 from w the George Washington 1 being admitted to the bar year. He soon gained y a lawyer, but after becoming nected with the trust company | gradually found himself givi and more time to financi until_he finally gave up active law practice. Yet his legal advice I always been in demand, as is sho by the fact that he is president an {counsel of the Home Plate Glass In surance ('o., directdr and counsel N tional Union Insurance Co.. counse for the Young Men's Christian Assc ciation, trustee of the George Wa ington University, the Public Libra Washington Humane So New York Avenue “Wurch; president of the Pres Home for the Aged. tre Columbia Historical _Societ John Dickson Home sident of the Washing ‘oundlings. . Larner is under h dminence d District Bankers Americar de,.mn jce pres dent of - the Building * Associatior ber of the Archeolo; Amer| nd among h Che se, Univer Cosmos, National Press and ¢ bank president found time quite extensively on | and fina ranslation int Life of Napole Ch English of Dumas brought him much renown. He is contributor to Trust Companies Maga and has edited the Columbia | 1 Society’s records since 19 a former member of the Be of Education, and on a recent trip visited some of the oldest leges in the co among Bowdoin. at Brunswick. Me, Dartmouth, at Hanover, N. . He dent in his belief that the ¢ sics should still be taught In schools. Before his next birthda) ner will see the completion will double t his bank. construction being due start next week Today’s Market Session Quiet Prices held well but trading light on the local exchange toda: | Washington as Light reached Raflway and Electrig preferred at 903, after vesterday's record activ ty: Mergenthaler at 1051 20-share transfer. Poton Power preferred regist at 108'%% and Capital " tion did 1 same, the price for this stock bef 10315. Five shares of District N al Bank stock sold at 23 in bonds was fairly varied and at th recently prevailing quotations t the Mr. La an New Insurance Directors Named. At the annual meeti rectors of the Potomac In held late yvesterday. the following d the comins Charles E Moore, F. Noric vear: Charles E.. Hood Howe, Thomas C. Miller, C. F. R. Ogilby, Richard E Pairo, Alexander K. Phillips, Edmund D. Rheem. Frederick Richardson and George W. White. Lee Brown and Maurice Besnard were elected as ne members of the board. Appointed New Manager. A. D._Carpenter has been appoin manager of the local office of the Sur Life Assurance Co.. succeeding the |late Orville B. Drown. whose death oc {curred in June new manage 1has risen very y:p:vlh in the ance world. having been in the T ness only since March, 1922, startine in with the National Life of Vermont {In November, 1924, he was appointe presentative of the Mutual Life o | New York. stayving with that com pany until his present ‘appointment The Sun Life. which has had an offic here since 1923. operates in 44 differ ent countries. The new local manag« is receiving hearty congratulatior from his friends. Steady Decrease in Fallures. A continued decrease in the numbe of commercial failures in the TTnite States for the last four months i shown in July reports to R. G. Dun & (0. The total for July was 1.605, the { smallest since last October. This ren resents a decrease of § per cent fron June and 30 per cent from Januar: Interest Rate Ordered Cut. A reduction from 5!z to 5 per cer in the interest rate on loans from the Houston, Tex.. Federal Land Bank was ordered vesterday by Comm jonér A. C. Williams of the Federa Farm Loan Bureau Deposits Off $35,000,000. The Federal Reserve Board's weeki condition statement of 639 reporting member banks in leading cities as of July 28 shows declines of $7.000,000 & loans and discodnts, $12.000,000 in in vestments and $75. 0 in net de mand deposits, and an increase $15.000,000 in borrowings from Federal Reserve Banks ns the GERMAN BONDS AND STOCKS. lars r million marks | (Quoted in dollars pe: iog, 2 Sear Bertin 4 "4 pre: ‘,’( e Amer Line s fa '"'B“'c’-.-m.n Tioed 1% North German Ligvdt Prissian Contols 522 ust A snrnner Handals. BALTIKOBE nnon.'rs BALTIMORE, August 3 (Special).- Bulk imports received through the of Baltimore last week jincluded the following tonnages: Bananas, 73, 104 bunches; chrome ore, 1.900 tons: coffee. 12,250 bags: copper. 9,378 slabs: gasoline, §2,000 barrels iron ore, 41, 400 tons; manganese oge. 25,104 tons manure salts, 3.387 tons 2,850,000 gallon nde potash, pyrites ove, : wood pulp, 700 cases