Evening Star Newspaper, August 10, 1926, Page 22

Sy STOCKS TAKE DOWN TURN ON MARKET Sudden Selling Movgment Breaks Out, Due to In- creased Loans. BY STUART P. WEST. Special Disnatch 1o The R! . New York, Au <udden gelling move- on the stock exchange | commonly ascribed to | - Jatest statements of Wall Street ns. showing for the week ending | » FIN zust mant broke out Sy 3t Iuly 28 an increase of $86,000.000. Since the end of July there has been. f course, a further heavy draft upon { redit resources due to the continued | rise in nyic Nobody charged that the stock ex-| change demands upon the money | market had reached serious propor- ions. If this had happened it would & shown in money rates, and these ere unchanged on the day. But with # remembrance of what has occurred 1 the past, cautious people did not like this big loan expansion. They » vital matter in . but as a_legitimate reason for action which Wall Street has | king for after weeks of almost pted advance Motors and United States all through the rket of the last month and a_half, ir example felt on the down Right at the operiing, sold as low as 211, at the close Monday. Lat- er the decline of the stoci continued Steel common broke over 3 points, rallied over a point, then when the monthly tonnage figures appeared, was freely offered again. This statement on unfilled orders was a disappointment. It was true 1hat there was an excess of new busi- ness over shipments, for the first time this vear. But the financlal commu- nity had been king of an increase of between 150,000 and 200,000 tons and the actual proved only to be 123,- 880 tons. The selling of Steel shares, which followed the publication of thes statistics, checked what little rallving tendency there had been around the noon hour, and brought about anoth- er rush of offerings. First Fall in Month. 1t was the first day in over a month when the market had had a reral and at the same time sub- stantial fall. _All classes of stocks went down. The motors and steels were naturally weakest because theyv had been the leaders of the rise. But their bre was closely imitated by numerous trials mostly of the =pecialty e, which broke all the way from 2 to 5 points. On this list were Air Reduction, J. I. Case, Loose Wiles. Remington Typewriter and \Warner Brothers Pictures. Du Pont, following General Motors, dropped over 10 points. Consolidated G quoted ex the quarterly dividend, was off nearly 2 points. Independent Steel shares, like Rethlehem and Youngstown, followed 1he course of United States Steel. To- bacco Products, United Cigar Stores and Schultz Retall Stores received bet- ter support than most of the others. Atchison and New York Central, as s of the railway list, were its from their recent high Baltimore and Ohio mnearly 2 CLOSING IS WEAK. Motors Slumps to Day's Lowest Level. General | NEW YORK, August 10 (®).—The closing was weak. Advances in a handful of stocks, including Schulte, United Cigar Stores, Baldwin and | Truck in the final hou | counteracted by anoth 1t il | in the pivotal issues. Unable to! maintan its recovery, Generad Mo {ors slumped to the day's lowest level. | while United States Steel sold unde: 150, more than 4 points below last night's closing. ‘Total sales appro mated 2,200,000 share: Markets at a Glance ANCIAL. ‘"THE EVENIN NEW YORK STOCK EXCHANGE i Received by Private Wire Direct to The Star Office Open. High. -1 Ope: 49 9 | Flelschmn(12%) Abrahmé&Straus. 49 9 A Adams Exp (6). 114% 114% 114 114 | Foundation (8). Adv. Rumley.... 16 16 156 156 |FoxFimA(4).. 7¢ 174 732 712% | Ahumada (v1).. 8 8% !’ 1.‘1: Freeport-Texas. 31 81 30% 30% | Alr Reductn (16) 144% 145% 12’ i Ajax Rubber. 94 9% 9% % | Carane Motes: ai“: o ':0‘: o Albany Paper 27 27 n Am Tnk (3). 46 46 45% 45% Allled Chem ( Gen Asphalt.. . 72% 2% 70 70 Allls Chalm O).. 91% Gen Asph bf (5). 111% 111% 111% 111% Amal Leather... 19% Gen Cigars (4).. 50 50 49% 49% Amerada (2).... 31% GenElec (112).. 90 90 88% 88% Am Agricul Chm 17% §en Elec sp(60c) 111 11% 114 11% Am Agri Chpf.. 62% GenGREAEl% 60% 50% 48% 49 Am Bk N pf (3). 574 Gen Motors (116) 219 219 206 206% Am Brake S| ) 141 Gen Outdr A (4). 54:2 2:’: B‘x a Am B Shoe pt (1) 119% Gen Ry Sig t4%. 90% 90% B8% 89% Am Br Bov El(2) 49% Gimbel Bros. ... 54 857 AmEr Bopf (1), 96% Giidden (2). 184 18% AmCan (3)..... 62% Gold Dust. 51% B1% Am Car&Fdy (§) 100% Goodrich Ru (4) 50% * % 49% 49% Am C&F pf (1) 126% Goodyear pf (7). 105 1(5_ 1041 104% Am Chicla 13).. 38% Gothm SH (2%) s1% 1% 61 i m Drue. .. e 8 am new 50 0 e il g e Gould Cou (237, 18 14 16 10 DS rore . i Granby Consol.. 25 264 24% 24% AmHido& Lpt, 36% Grt North pf (5) 74% 74% 178% 74% AmHo P (2.40). 26% GtNor Ore (1%) 19% 19% 19% 19% AN ThtGindt . She. Grt Watn Su (8) 97% 7% 974 9% AmLaFr)... 124 Green Canan 21 21 206 20% Am Linseed.... 374 Guantanamo.... 7% % % % Am Linsd pf (7). 81% Gulf Mo & Nor.. 35 35 84 34 A5 Dcennt o) igts: Gu M & N pf (6) 105% 105% 106% 105% M vy o Guit States S (5) 74% 74% 724 724 Am Matals (4).. 63% Hanna 1s . A Metais pr (72 116 Hartman o S 8 88, B Am Plano pf (1) 98 Helm Geo (16%) 77 77 77 177 Am Po&Lt ig1). 68% Hoe & Co A. 34 84% 84 54"1 Am Radlator (4) 117 Homestake (17). b5 65% Bb% 55% ARy Exp (.. 82% Househd (1334). 48% 43% 43% Am Safety R (3) 69% Houston Ofl.... B59% B69% 69 69 AmShip& Com. 8% HoweSound (3) 88 38 87% 37% Am Sm & Ref (7) 138% HudsonMan(2%: 38% %4 %. 38% 38% 838% 8% AmS & R pf (7) 117% Hudson Mo(3%) 71% 71% 68% AmStiFays ). 457 Hupp Mot (1)... 26% 26% 25% 25% AnsHEr) U Tlinots Cen (7). 1201 121 120% 121 Am Sugar pf (1) 103% PNy Mk B 5 08 A Sowar PR Ingersoll R (14). 91k 914 91 91w Am Tel & Tel(9) 143% Ea . Wk Ak 3 & e e Inwplration (2).. 25% 26% 25% 254 IS nterurb RapTr, 43 434 43 43 Am Typ Fdrs(8) 123 ::lcnn!l Rub(1). 16% 16% 15% 16% e MmtBusMa @), 49k 49K d9wi 49w LI T ntCement (4).. B4 B5% B4 54 Am Woolen. ... 24 I'ntCeman! rts. . L % % % e IRE ntCom Eng (2) 59 ' 59% b8% 68 IR T Int Harvatr(6). . 13246 1324 130% 130% AL IntMtchpf(a20) 63 63k 63 €3k A pcliectta it Mer Marpf.. 304 80% 20 30% e Int Nickel (3)... 374 371 87 87 5 v CA p 3 63 63 63 ArmourDel pf(7: 94k Int Tel & Tel (8) 119% 119% 118% 118% Armour of 1I1(A) 14% Int T&Tel ts. 2 . Armourof II(B) 7% el G L L A iy, 1o1% JewelTea...... 38% 80 88% 89 Artioom (3).2. 61 Jordon Mot (8).. 24% 24% 24k 24% rtloom pf (7).. < Art Mrotay (13 20 Kaveer 7 (Ders. S0° 19 d3% 4o Asso Dry G(2%) 45% Kelly-Spring 134 13% 18 13 Asso DG 2d (7). 105 Kennecott (4 58% B8% B7% B7% Sl 1z Krenco 88(130) b3 684 6214 621 At1C Line(1913) 226 Kresge Dept 8. 23% 23% 23% 28% AtIGuif& WI.. 39% LagoOll & T: 22 224 21% 22 Atlantio Refing.. 113% Tambert (83 86 56 G6% BG% Atlas Powdr (4). 58% Leh&IMnk atf(3) 87% 37% 374 874 Aasnn b 61 TifoSav (160).. 21 214 ‘21 214 Auto Knitter. 1 Liggett & M (14) 85 85 85 86 TS Ulme Loco (0 o1 2" oy 03" Ima .. 1% 62 BaldwinL (T).. 124% LoewsIno (3).. 42k 424 41k 414 Balto & Ohto(5). 101% Toft Balto & Oh pf(4) 72% Bang & Ar pf(7). 99% v%ggwglz‘;'(n Rarnsdall A (2). 26% Tortilard(2). ... Bayuk Clgar.... 50% Loutstana Of1... 1 S B St Lou&Nash(16%) 135 135 1344 134% Belding Bros(3). 304 Ludlum Steel (2) 86% 6% 85% 85% Beth St1 pf (1).. 108% McCrory B15.60. 80 80 80 80 Bloomingdale... 33 Mack Trucks (6) 120% 181 1264 129 Bloomingdle pf 7 106% Mack T 1st (). 111% 111% 111% 111% Briggs Mfg (3). 28% Mackay (7). NEW YORK i h-priced issues { ds heavy; French and Mexican | gations lower. Toreign exchanges ed; French franc easi Cotton Sugar P).— al CHICAGO.—Wheat tation bullish Government port (orn firm: excessive heat. Cattle ir- regular. Hogs lower; slow demand. higher; expec- FLOWER GOES LOWER. Special Dispatch to The Star BALTIMORE. August 10.—A reduc- tion of 25 cents a barrel on carload | lots of Western grades of Winter | patent and old Spring patent and old | pring stralght flours was announced | 1 This makes the market prices | to $1 a barrel less today than market quotations a year ago on these grudes of flour. . CRUDE RUBBER UNCHANGED. YORK. August 10—Crude , smoked ribbed sheets, was un- \rice at today’s noon quo- | tation of 3 This_compares with | 41% a month ago and 74 a vear ago. Tobacco Sales Set Record. ATLANTA, Ga., August 10 (®).— Tobacco sales in Georgie vesterday et all time, when s were sold for §8id. average of nearly 30 conts | per pound | i WASHINGTON GRAIN. 2 follow and stra ington 1 Hay- of grain, hay in the Wash- 0 a ton: no quo- tatiol luct Straw—\Wh long rye.| 22.00; tangled ry -ain—-\Wheat 2, garlicky, 1.30;{ red or white, on cob, 4.30 . RAILROAD GETS 0. K. The Beit Nailway Co. of Chicago 1zed by the Interstate Com ¥ to eper- er certain | nd Western | E 1t Line was | ithorized to assume liabilities 8 of the other road first wding mortgage bonds, % . ; BAR SILVER RATE. ! NEW YORK, August 10 (P).—-Bar| silver, 621y Mexican dollars, 47%. FEDERAL LAND BANK LOANS. ted by Alex. Brown & Sons. Closi Al - S T [3 ¢ | Cont Insur (6).. 129% | e Macy HR& Co.. 111% 111% 110 110% et Magma Cop (3). dl% 41% 41 41 B D Mallison & Co... 174 17% 17% 17% Brown Shae (2). 88% sl g Sl o L T O e Man I gtd(D5). 53 62 63 63 Brunswick Ter.. 13 Manfla Elec (2). 85 35 85 35 Burns Bro (10).. 135 MarncalboOIl... 22% 224 24 22% BurEouEhS(Ee)- Q0B Market Street. .. 4% 4% 4% 4% Bush Terminal.. 20% Markst St prior. 40% 40% 40k 40% Butte Cop (500). & Market St 2d pf. 18% 13% 18% 184 Butte&Super(2). 11% Marland Ofl (4). 68% 69 B7% b3 Butterlck....... 60% Marlin Rock (2). gsw. 20% 20 20% ng(s) 73% Mathieson (4).. 78 % 76% it Pocratcir., 38 May Dept St (5). 122%123% 122% 1234 t& Ar(8). T3% MetroG pf(1.89). 23% 4 Calumesti(isy. igh Mextcan Seabd.. 11% 11% 11% 11% Case Threshing. 168 Miami Cop (1) 15% 18% 154 15% Case Thr pf (7). 118% Mid-Continent.. 32% 52% 81% 31% Cent Leather.... 8% Middle States... 1% 14 1% 1% Cent Leather pf. 68% W12 States Ofl ot h T % Cen Ry NJ (112). 288 Midland pf(10). 125 125 125 128 Century RibM.. 16% Minn& StLouls. 1% 1% 1% 1% Cerre De P (4).. 12% Min St P& SSM. 86% B6% 364 364 Certain-Teed(4) 47 Mis Kan & Tex.. 87 87 86 26 Ches & Oh (112). 145% Mo & Tof (8). 92% 82% 621 924 Chi & Alton..... 5% Wievour! Pacifie. B88% 88% 38 88 Chi & Alton pf.. 8 Arissourf Pac pf. 914 S1% 89% 90 (:hl & East Iil... 81% Vontana Pow(6) R0% R0% BOW ROW ni & East 1l pf 40% Monteom Ward. 74% 6 7% 72 Chi Great West. 9% Voon Mot (3)... 28% 23% 23% 23% ChiGr West pf.. 24% Maothr Lode(7hc) 64 6% AW 6% ChiMN&StP... 12% Mo Ploture(1%) 18% 19% 194 18 ChiMI&StPDf 204 Motor Met(3.60). 41% 42 4% 41% CMil&StPotfs 11% Motor Whi (2).. 2 25 24 24 CMI&SPpfcts 19% Murray Body... 8% 8% 8% va (4).. T4% = = gg::v::'r(m.. 1144 5:‘: 5:'6 ng“; Szv- CEIRR D o Nnt Biscult +4% 0% 04% 021 93% . Not Riscu pf (1) 150 180 130 130 . s Nt Cash Reg(3) A1k 42 414 42 ST e ol Nat Cloak & Sut 2% 24% 24% 24% Oy s 10% Nat Cloak pf (1) 74% 76 T4% T4% e ). i NatDalry (3)... 72% 78 7I% 172 o e Nikan, 4T% Nat Dpt Stores.. 26 26 26 25 S AP T. 106 Nat Distillers... 21% 21% 21 21k o Huer & Tron.. 46 Vat Distillers pf ¢4 46 44 44 i et at Enamel & S. 22 22 22 221 oG S Bl (5) 83w at Lead (8)... 161% 168 161% 162% S e at Po& Lt(40e) 22% 224 22 22 o Cea ... 214 at Fy Mex 1st. 8% 6% 6% 5% o ko) Meen NatRy Mex2d.. 2% 2% 2% o% ot Nat Supply (4).. 844 644 68% 634 Congoleum-N. . 24% NatTea (4)..... 1 18614 “onley (sta).... % Nevada Cop (1). 4 14% Conley NY Afr Brake(2) 43% 43% 42 42 Congress Cgr(3) 42% N Y Canners C2. bt Consol Cigar.... 2% NY Central (7). 136% NY Chi&StL(11) NYC&StL pf (8) NY Dock. .. NY NH & Hart.. NY & Harl (5) 1 NY On & West Con Cigars pf(7) 103% Consol Distribut 4% Consol Gas (6).. Consol Textlle. . Cont Can (16) Cont Mot (800).. 12% NlacFpf (1%). 28 28 28 28 Corn Prod(12%) 45% Norfk & Wn (18) 168% 158%% 156 156 Corn Prod pf(7). 126% North A (B3.40). B5% 554e 544 85 Coty Inc (4).... 60 . NthAm Ed pf(7) 95% 984 854 96% Cructble Stl (). 77% North Pac (5)... 76 15 7T4% T4k Cuba Cane Sugat 9% Norwalk (80c).. 7% 8 1% 8 | Cuba Cane Su pf. 40% Nunnally (160). 168 18% 16% 15% CubaCo(4)..... 5L Of Well Sup (2) %4t S5 84% 88 Cuba Co rights.. 11% Omnibus 16 15% 16% 15% Cuban-Am S (2). 264 st st Cudahy Pkg (7). 984 g 122 122 122 Cushman's (8).. 97 97 97 = 97 | 10 10 10 Cushimann p£(7) 107% 1073 1075 1075 | 5413 Steel pf. ... 100 100 100 100 | pavisonChem.. 39% 39% 23 38 |OwensRot(t4). 73 78 73 784 | Del& Hud (9).. 168% 168% 165 o e DelL & Wn (17) 145 145 145 Pactfie Gas (8. 129 129 129 \ig DRG Wstpf... 44% 454 44% Packard (+2.90). 43% 43% 2 > - Paige Mot(1.80). 16% 167 164 164 Detroit Ed (8).. 136% 136% 136 2 e s Dodge Bros CIA 32% 32% 314 Pan-Am (6).... 7% 67! » 7 Pan-AmB (§)... 68 68 6I% 67 Dodge pf (7).., 87% 88 8T% 6 Mines (2). 11% 11% 1l Pan.AmWnB(2). 88 33 38 38 R e . 3 Panhandle...... 20% 204 18% 19% Douglas Pec (1). 31 31 31 TRl D { Dupont (119)... 809 309% 295 L | Dupont deb (6). 106 106 106 Duquesne pf (7). 116% 116% 115% Eastman (18)... 1144 114's 114% Eaton Axle (2).. 20% Penn-Scad Ste { El Auto Lt(t6%. 72 Peoples (as (8). 124 124 124 124 Electric Boat... 7% Pere Marg (18). 99 99% 98% 98% Elec Power & Lt 194 Pere Marqpf (5) 90 90 90 90 Elec P& L pf(7) 96% Pere M prior(3). 93 93 83 93 Elec Refrig(f2). 664 Phla& RC&I. 38% 884 38 38 Elec Sto Bat(16) 85% Phillp Morris... 224 224 224 224 Horn. 10 Phillips Pet (3). 47'% 48 47% 474 Elk Horn pf 25% | Prerce-Arrow... 31 31 20% 20% Emmerson B pf. 12 Plerce-Ar pf (8) 117% 1174 116 116 Emrsn-Brpfefs 12 Pierce Ol % % % nd-John (5)... 67% Plerce Petr 8 8% 2% 2% Engineers PubS 24 Pitts & W Va(8) 109% 109% 109% 109% Equitable pf (7) 128% 123% 1234 123w | Postum (5)..... 104 105% 108% 1044 Erie R R. . 85 35 344 84%|PubSerNJ(B). 914 9I% 894 904 Erle 18t pf. 44% 44% 44 44w | PullmanCo (8). 179% 179% 177 177 Lrie 2d pf. 41 d1% 41 41%|PuntaAlegSug. 36 38 35 354 Hureka Vac 53% 63% 02% 63 | PureOll (P.... 27 27 264 26% Famous Pl (J2). 117% 117% 116 116% | Radio CorpoT A. 3% 8% 43% 48% FedLight(*1.40) 33 33% 33 33% | payConsCop(1 15 15 15 15 FedMinpf(7).. 75 75 7 75 | Reading (4).... 98% 06% O84% 95% Fid Phoenix (6). 185 185 185 185 | Readinglst(2). 40K 40% 404 40% Federal Truck.. 32% 83 31 81% Rexding2d (3).. 42 42 42 42 First Nat S(1%) 33% 33 334 83w ReldIceCm (3). 48% 48% 48% 46% ,Fisk Rubber.... 18% 18% 18 18%| Remington Type 128 125 na 118% FiskR1stpfs(7 81 81 8I 81 | ReplogleSteel.. 9% 9% % STAR. WASHINGTON, D. TUESDAY, AUGUST 10, 1926. BONDS SHOW SIENS | Lo rors_BONDS o] ved by Private Wire OF STOCKS' BREAK React to Slight Extent in Sympathy—Trade Dull for Most Part. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, August 10.—Bonds of the more speculative type reacted to- day in sympathy with stocks, but not to any great extent. For the most part trading quickly turned dull, while high-grade industrial issues were un- affected, and in a few instances ac- tually higher. There particularly good demand for New;York, Chicago and St. Louis 5%s around 104, within a fraction of the year's high. Central Pacific 53 sold above 101 again and Virginian Railway 5s at the high of the day before. There was noticeably more interest in short-term securities of the type of Southern Pacific 4s of 1920. United States Government bonds were steady. The high-yielding railroad bonds that gave ground were naturally-those in which buying interest had been most active during the past 10 days. Instances were International Great Northern adjustments, Denver and Rlo Grande Western 5s, Missouri, Kansas, Texas adjustments, and Chi- cago, Terre Haute and Southeastern incomes. In mnone of the issues did the selling go far before support was encountered. Steel Bonds Hold. Independent steel bonds held well particularly the Bethlechem Steel is isues. On the other hand, Trumbull UNITED STATES. (Snlen 2. g, Low. Close. b 3% 4 10t2 14 Lib 1st 4 51024 102 102 Lib 2d ¢%s. 549 100 26 100 22 100 23 Tib3d4is. 71 1017 1014 1014 Lib4th 438 21 10216 10212 102 14_ UB3%s.... 2 10118 10114 101 18 UB4s1944. 3 10829 10324 10324 UB4%sb2. 210729 10724 10729 FOREIGN. Sales. High. Low. Close. JuB9. 10 99% b9 99% Argentine 6s Oct 52 17 Argentine 65 A.... 7 Argentine6sB.... Argentine 7s. Australian b8 Austria 7s.. . Bank of Chile Belgium 6s Beigium Belgium 7 Belglum 7%s. Belgtum 8 Bolivia 8s. Bordeaux 6s. Brazil 7s. Brazi] 8 Canada 5s 1982 Canada 5%s 1929 Chile 75 1943. Chile 851941 Chinese Gov Ry 6. Con Pow Japan 7 Copenhagen 5% Cuba 5%s...... Czecho 7% rets. Czecho 88 1951..... Denmark 8s DEI5%s M DE In 5%s Nov 53 Dutch East I 6s 47. Dutch East I 6s 62. Finland 7s French 7s French 7%s French 8s.... German EI P 6%s.. German 7s... Steel 68 at one time were off about a point from thelr recent top. In the ofl group Sinclair bonds sold down _fractionally although Sinclair Pipe Line 58 early in the day, went higher, There was not much change in the local traction, but here, too, the trend was slightly downward. Granby Mining 7s were off a point at 113. The reactionary influence extended to the forelgn group, where French bonds lost ground and this time took with them German industrials. New Financing. The day's new financing Included $5.000,000 Midland Utllitles 5 per cent serial motes, offered by Halsey, Stuart & Co., on a 5.17 to 5.30 per cent basls, and maturing from 1929 to 1931 I clusive, and $2,000,000 Electric Public Service ls-vear secured 6s at 98 to yleld over 6.20 per cent by a syndicate headed by R. E. Wilsey & Co. A _group headed by Stifel, Nicolaus & Co. is offering a new Issue of $1,500,000 secure 6% per cent con- vertibie gold debenture bonds of Jones Stores Corporation, maturing serially 927 to 1936, inclusive, and yielding from 5 to 6.57 per cent. e Rep Ir & Stl (4). 61 62 Reynolds Spngs. 6% 6% Rey Tobac B(5). 97 97% Royal D(1.339) 48% 50% St Jaseph L(13). 43% 444 StL & SanFr (1) 07 97 StL Southwest. 69 £9% Savage Arms (4) 9% T79% Schulte (§8).... 49 Bl% Seaboard Afr L.. 33% 54 Seabd AIr L pf.. 87% 87% Sears-Rn (2%). 57% 57% Seneca Copper). 6 6 She!ll Un (1.40).. 27% 284% Shubert Theatre 69 69 Simmons(t2.25). 34 34% Simms Pet (1).. 17% 17% Sinclair O11 Skelly Oil (2) Sloss Shefl (6).. South Port S (8) Sou Cal Edlison... Sou Dairies A(4) Sou Dairfes B... South Pac (8)... Southern Ry (7). South Ry pt (5), Splcer Mg, Std Gas&El St4G&EIpf(4) 67 67 67 57 Std 011 Cal (3).. 58% BI% B8Y% 587 SKOBNJI (1).. 43 434 42 43y Std Ol NI pf(7). 116 116 116 116, Sterling Pro (5). 86 864% 86 864 Stewart War (6) 76% 76k 74% 744 Stromberg (8)... 63'% 68% 67% 67% Studebaker (5).. 56'a 564 53% hd% Submarine Boat. 1% 1% 1% 1% Superfor Ofl.... 1% 1% 1% 1% Superfor St1(2). 25 26 26 26 Sweets of Amer. 13% 134 134 13% Symington. ] 8% I 8% 8 SymingtonA®®). 17 17 17 17 Telautogra(60c) 12 124 12 124 Tenn Copper (1) 124 12% 12 12 53% bs% b52% 627 169% 170% 1674 167% T BUh B4% bdu baw Tex& PacC& O 14% 14% 14% 14% The Fair (2.40). 28% 28% 2T% 2% Third Avenu 86% 35% 864 364 Thompson(3.60) 46 46 46 46 Tide Water(14%). 81 81 81 81 Timken (t4).... 61% 61% 60% 60% Tobao Prod (7). 108 108% 106% 1064 Tob Prod A (7). 112% 111% 112% 112% TranscontOll... 4% 4% 4% 4% Underwood (4).. B4 04 B4 b4 Un Bag & Paper, 60% 61% 58 8% Un Carbide (5).. 90% 90% 88 884 UnOfl (3)...... 53 7 634 524 bu% Un Paciflo (10). 1574 167% 165% 165% Un Pacific pf(4). 80 80 80 80 Utd Alloy (2)... 88 33 33 33 Utd Cigar S(c2). 103% 104% 102% 103 Utd Drug (8)... 160 160 159 169 United Frult (4) 115 118 116 116 USCIP&F(10) 241 241 28¢ 234% USCIPpf (7). 107 107 107 107 U S Distributing 55% b6% 5% 66% UBInd Alcohol. 61% 82% 60% 62 us Us U S Steel (7).. U 8 Steel pf (7). Uhiversal Pipe. Univ Pipe pt ( Vanadium (3)... Vick Chemical Va-Cara Ch(n).. Va-CarCh 6% pf Va-Car Cn p£(7) Vivaudou. . Wabash........ Wabash pf A(5). Waldorf (1%) Walworth (1)... Ward Baking B. Ward Bak pf (7) Warner Broa. Weber (4).. West Maryla 13% 13% 12h West Pacpf (6). 85 85 84w 844 West Union (8). 144% 144% 14d4a 14d% Westinghse (4). West A Br(t6%) Weston Elec. . Weston A (2)... Wheel & L Erle. Whize Eagle (2) White Mot (4).. White Sew pf. .. willys-Overiand lys Od pf(7). ‘Wilson & Co new Wilson A (new). Wiison pf new.. ‘WoolwthFW (5] \Worthn Pump. . ‘Wright Aero (1) 87 Wrig Wm (14).. b8% Yale&Town(ts). 68% Yel T&C(75¢) 95 95 Dividend rates as given in Youngstown (4) 9l the above table ‘annual cash, payments based e en Guarierly OF hAl{ Fearly Geciaraticois Gor Agr Bank 7s... Haiti 6s. Hungary Italy 7s.. Japanese 4s Marsetlle 6s. Mexico §s assented Montevidio 7s.. .. Netherlands 63 54. . Netherlands 6s 72. Nord 6%s. . Norway 6%s. Orient Dev deb 6s. . Paris.Ly-Med 6: Paris-Ly Med 7. Peru 7% Peru 8 Poland 3s. Prague 7%s Queensland 7s. Rhinelbe Un 7s Rio de Jan 8s 19: AmT&Tsfbs.. Am T & T deb 51%s. Am Water Wks 5s. Am Writing Pap 68 Anaconda 1st 8s. .. Anaconda cv db 7s. Andes Cop 7s rets. . Armour&Co 4%srf Armour Del 6 %s. .. Atlantic Kefin 5s. .. Barnsdall 6s ctrs Bell Tel Pa 58 B. Bell Tel Pa 58 C Beth Steel pm 5s... Beth Steel 5%s 68. Beth Steel 6s. Bkiyn Unicn 5%s. Cen Leath 6s 45 cfs Chile Copper 63 32. Col Gas & £l 58 Col Gas & El bs sta. Commonwlth P 6s. Con Coal Md 1st 5. Con Gas N Y 5%8s.. Consumers Pow 53. Cuba Cane cv 7s. Cuba Canecv 8s. Denver Gas 5s..... Det Edison ref 6s.. Dodge w16s... Est CubASug 7% Empire P& F 7%4s. Goodricl 6%s. \Good year 8s 19 Goodyear 8s 1941 Hershey 5%s8. . HumbleO&R & Tilfnois Bell 1st 58. Int Mer Marine 6 Int Paper 55 47 Int Paper 6s. It T&T5% . Kan CP&L 68 A 52. Kah G & E| 63 52 Lackawa S 55 60.... Caclede G 6%852. . Louisv G & E 53 62 Manatl Sugar sf 7% Mid-Con 6%s 40... Midvale Steel 5: Montana Pow 6s... New Eng Tel 5 N Y Edison 6%s. .. NYGE L H&P 5s. N Y Tel 43%5. N Y Tel 6s 41 N Y Tel 65 49 North Am Ed 6s. North Am Ed 6% Nor States Pow 6s. Pac Gas & El 58. | Pac T & T 68 62 Pan-Amer Pete 6 Phila Co 535 38. PhilaCoTf 6S A... Phila & RAC & 158 Public Service 6s.. Pub Serv Elec 6s. . p Serv Gas5%s 59, Sinclair Ol 6s. Sinclatr Oll 6% Sn Por Rico Sug ‘Tenn Elec Pow 6 Toledo Edn 1st 7 U S Rub 1st rf 5: U S Rub 7%s U S Steel s f 53, Utah Pow & Lt 5s. Warner Sug 7s 41. st Elec 5s. . Westn Union 6%s. Westinghouse 7s. . Wilson & Co 1st 6s. Youngstn S & T 6s. Atchison gen 4s. .. Atlantie C L cl 4s. Atlantic C L 1st 4s. AdanticCL7s.... At] & Dan 1st 48 48. Onl ‘otherwise noted. extra or special divi- depdace nol ncluded. Fastly TPartis extra. $Payable n common stock. (Plus 4% o stock para: b& 1% quarterly. lus 3% in stock, a Paid this ’M.I:ka‘l nr.brm.n b Plus 122:; in o 230 % 3 e mtocks ' Bayath when sunik: Pk fié 5 lus 2% W stock. S L Car Clinch & O bs.. Rio de Jan 8s 47. 2 102 Sao Paulo 8s1936.. 9 103% 105% 105% Saxon (PW) 7s. 4 98'% 984 98% Seine 78 42... 22 we% 88 88 Serbs CrotSlo8s... 8 924 92 92 Sweden 5%sct.... 2 1037 103% 103% Sweden 6s. 1 104% 104% 104% Swiss 518 1946.... 1 1087 103% 103'% Swiss Confed 8; 4 113% 118% 113% Toho Elec Power 7 26 95 95 95 Toklo 53 ees T T4% 4% Utd Kingm 5%s 29. 1 118% 118% Utd Kingm 6%s37. 8 105% 106% 105% MISCELLANEOUS. Ajax Rubber 8s.... 7 103% 103% 103% Am Agri Chem 7%s 14 104% 104% 104% Am Smit& R 1stbs 8 100% 100% 100% Am Sugar ref 6s... 10 AmT&Tcltris.. 45 AmT&Yeltrbs.. § Soutnwest Bell 58. RAILROAD. 107%_107% 106%°106% 101% 101% 85% 85% 945 95 104% 104% 104% 105 102 102 100% 100% 109% 40% 12 3 L3 14 10 83 1084 107% 107% 1100 100 100 1100 100 100 3 104% 1047 104% 4 83 8244 83 21 106 106% 106 1100 100 100 4 92 92 92 97 9643 7 v1 97 97 107% 107% 107% 14 96% 96 99% 1034 103% 99% 99% 99 a9 104% 104% 96% 96% 101 101 102 101% 1164 1154% 106 105 105% 105% 100 9% 997% 99% 101% 101% 106 _106__ 105 100% '100% 100% 104% 104% 104% 100% 100' 100% 103% 108% 103% 106% 106% 106% 104% 104% 104% 104% 104 1045 93 9u% 9% 99 98% 98% 101% 101 101 C91%_91% 9% 135% 185% 108% 108% 108% 102% 102% 102% 3 1 1 4 6 1 6 2 2 5 4 2 3 1 2 4 2 0 1 2 13 2 1 2 T 0 105 104% 105 103% 108 108K 9¢ 93% 93% 107% 107% 1074 106% 106 10644 9T% 9TH 9TH% B4% 844 Bd% 100% 100% 100t 112% 1124 112% 106% 106 106% | 5 984 984 93y 10 104% 104% 104% 13 20 93% 93 984 .6 92 2 92 T 94 93% 5% 105% 105% 106% 80% 80 80 S1% f14 f1% 96% 96% 96% 984 984 98% 9 102% 102% 1027 163% 1027 1034 | 107% 107% 107% 90% 90% 90% 100% 100% 100% B0 B80% 80% 964 96% 06% % | CM&StP r 438 cfld 5; Direct to The Star Ofice. Sales. High. Low. Close Tiours 1084 108% 02% 102% CM&StPev4ks. 26 CM&SPcv4 %4s32ofe 78 CM&StPrié%s.. CM&StFcv CM&SP cv Sscfs Del & Hud 1strras 1 Del & Hud cv 68 36. 17 Del & Hud 5%s. = Den & Rio G cn Erie 1st cons 4 Erie gen 4s. Erleconv 4s A Erfeconv4sB..... 1 154k 176% 76% Erleconv4sD..... 49 82% 824 82% FlaEC5s74 11 99 98% 9S% Grand Trunk 7 5 116 114% 115 Gt Nor 4%s76 D.. Bl 92% 024 92% Great North 5s.... $ 100% 100% 100% Great North 53%s.. 3 106% 108 106k Gr North gen 7s... 49 113% 113 113 Green B & W d 00 20 20 20 Havana ERL&P60. 23 1044 108% 104 Hocking Val 4% 2 96% 9Ck 96% Hud & Manref 6s.. 11 96% 86% 96% Hud& Manajbs... 5 Bl% 3l 8% 10 Central 5%s.... ¢ 103% 103% 103% -C-C StL&NO 6s. 3 102 102 102 Int Rap Tran$s... 66 74% 74% 74% Int Rap Tr Ssstpd. 9 74% 74% Ti% IntRap Tran 8s... 13 76% 76% 76% Int Rap Tran7s... -9 66 9% 06 Int & G Nor 1st 6s. 4 103'5-105% 105% Int&GNoradés.. 93 77% 77 Z17% Towa Cent rf 4s. 6 Towa Cent 1st 5. Kan City Ft £ 48, Kansas City S 3s. Kan City S 6s. Kan City Term Lake Shore 4s 28. Lake Shore 43 31... Louls & Nash 7s. Market St 73 40. S 5 103 3 MK&T 1st4s.... 2 86% 86% 80% MK&Tadfbs.... 94 9314 83 03 MK&TprinSsA. 4 101 101 101 Mo Pacific gen 48.. 24 734 724 734 Mo Pac 5= 1965. 2 97% 97TH 9ThH Mo Pac 6s 49 D. 2 105% 106% 105% Mo Pac 6s 55 B. 9 105% 105% 1054% Nassau E Ry 4s67. 16 59% 69 69 NOTex&MSsB.. 2 99% 99% 99% 3 T9% % T9% 31 %6 56 96 NYCrfim4%s13 5 974 97w 974 NYCentribs.... 22 1041 104% 10415 N Y Cent deb 6s 5 106'% 108% 10834 NYChI&StL6%sA. 19 1044 103% 103% NYChi&StL 5%sB. 18 108% 103% 103% NYC&StL6sA.. 5 163% 103% 103% New Havd4857... ew Havan c d 6s N Y Rys 63 65 N Y Rys 63 A 65 N Y W & Bos 4%4s. Nor & S gen b3 54..1 Norfolk & W ev 6s. Northern Pac 5s D Northern Pacr f 6; Ore & Calif 1st 58 Ore Short L rfs 48 Ore Wash 1st rf 4 Pennsyl con 4%s. Pennsyl gen 4% PCC & St L 5s B 765. PorRL &P 6s47.. RIATk& L4 St L IM&S 48 29, St L IM&S R&G 4 StL&SFplés A St L &S F pr In 6 St L& SF 5%s D, St L& SFad) St L& SF inc .. StL&SFplésC.. St L S W con 4s 32, St P & KCShL 4%. San A& Arn P ds. Seab A L ref 4 Seab A L adj Sou Pac 48 29.. Sou racine rer Southern Ry gen 4s Sou Ry con 58 94... Sou Ry 68 56... 1 Southern Ry 6% Texas & Pacific 1st Third Averef 4s... 1 Third Ave adj 63... Tol Tr L&P 5%s 30 FINANCTRL. WHEAT GOES HIGHER IN GENERAL ADVANCE Predictions That Report Would Show Estimates Too Large Re- sponsible for Rise. By the Associated Press. CHICAGO, August 10.—Assertions in some quarters that the United States Government crop report today would show that wheat yield estimates by leading private experts have been | too large tended to give an early up- ward slant to the wheat market today. Opening at % off to % up, wheat prices soon scored a moderate general advance. Corn and oats were also firmer, corn starting unchanged to 3 higher, and subsequently making gains all around. Provisions were lower. In addition to predictions which were current that the United States Government crop report this afternoon would indicate less production of. do- mestic wheat this season than un- official authorities have forecast, there was conslderable talk today that the Canadlan government report would also turn out to be far below extreme private estimates. It was also con- tended that in any event there is a domestic and world demand for all the wheat North America may have to_sell. One of the foremost grain authori- ties here declared today that present prices of wheat will probably prove to be under the average for the 12 months ending July 1 next. He based this on apparent evidence that flour demand has been of such magnitude as to justify belief that it has come from big bakers, biscuit-makers and chain stores, who know about what they can get throughout the vear for | finished products and can afford to | stock up with raw materfal well in advance. Close. ! WHEAT— Low September 1A8% 1A | . 20 1 m"{'“?" 1478 14e% Septonber U 3 Ragmeer o SA 1% § September . 41 41 December 44 45 Mg a8 Rt September 101% 103 Decomber 1088 107% Sept 1530 1530 Sotatar . 1835 1635 RIBS-— September 15.10 16.20 Seioher ™. e 26000 September 17.80 1788 October .. . 17.6 GOLD EXPORTS RESUMED. $2,500,000 Forwarded to Germany During Last Week. NEW YORK, August 10 (#).—The export movement of gold to Germany, which reached large proportions shortly after the flotation of the $110,000,000 German loan here in 1914, has heen resumed with a consignment of $2,500,000, forwarded late last week. Additional shipments probably be made from time to time b: Federal Reserve Rank of New York to the German Reichsbank. - NEW YORK, August 11 (P).—Ap- proximately $15.000,000 in loans was called shortly after the opening of the stock market today. Money was, however, in supply at the renewai rate of 4% per cent. The slight firm- ness was due Jargely to the report of the Tederal Reserve Board showing brokery’ loans increased nearly $8 000,000 during the week ended August | 4. ‘Commercial loans of the reporting members also showed a jump of $26,000,000 for the week, indicating heavier demand from interior points for farming and commercial purposes. ATLAS DECLARES DIVIDEND. WILMINGTON, Del, August 10 ).—The board of directors of the Atlas Powder Co. today declared a dividend of §1 per share on the no par common stock of the company, payable September 10 to stockholders of record August 31. CHICAGO POULTRY MARKET. CHICAGO, August 10 (#).—Poultry, alive, unsettled; receipt: 13 cars; wle, 20a24; brollers, 25a29; Springs, 28; turkeys, 34; roosters, 18; ducks, 4, geese, 20. CHICAGO LIVE STOCK MARKET CHICAGO, August 10 (United States Receipts, 26,000; generally 15 to 25 lower than Monday" grade hogs showing mintmum loss; top, 13.65 on 170 to 190 pound aver- % { ages; bulk desirable, 210 pounds down, 13.20a13.60; most to 300 pound most packing | 10.40; few lightweight on butcher order upward to 11.00 looks 2 slaughter pigs, 13.25; few, 140 to 150 pound averages a instances showing 25 to 35 downturn. Heavywelght hogs, 1 um, 12.25213.60; light, 12.60a13. light light, 12.75aa13.60; packing sow: 9.75a10.75; slaughter pigs, 12.50a13. 8, Union Pac 1st és... Union Pac 4s 27 virginia Ry 1st 6 ‘Wabash 2d 58 Wabash 6% s West Maryland % 1 103% 103% 103% 4 T2% T2% 2% COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY HOUSTON, August 10.—The ques- tion which is worrying Texas plant- ers today is not how much cotton can be made, but how much can be gathered. A shortage of pickers Is impending and the United States Employment Bureau already has a call out for 20,000. CUMBERLAND —Heavy coal ship- ments are being made from the up- per Potomac and Somerset mines of the Davis Coal and Coke Co. About 900 miners are employed at present and it is reported there is work for more men. MAINE.—Acreage planted to cer- tified seed potatoes in Maine, New Hampshire, Vermont, New York and the maritime provinces of Canada will average about 72 per cent of that for 1925, according to latest crop reports. ‘Total acreage is esti- mated at 23,163, as against 32,28¢ acres last year. CHICAGO.—Packing house trade is picking up, with both pork and beef showing more activity. Recent price reductions in pork have at- tracted buying and this trade is at steady values. Beef prices are a shade firmer. CLEVELAND.—Unfllled orders of the Trumbull Steel Co. range frem 120,000 to 125,000 tons. These orders will give the company at least three | months’ work at the same. rate of production which has been main- tained this year. COTTON GOODS QUIET. NEW YORK, August 10.—The cot- 91 3 101% 101% 101% uotations were un- changed at 7% for 64a60s and 8% for 68x72s. Raw silks continued quiet. 5. Cattle—Receipts, 12,000 head; largely steer run: vearlings and few choice weighty steers, steady; other fed steers mostly 10 to 15 lower; general trade slow: best vearlings and medium weight, 10.65: strictly choice weighty steers, 10.00; she stock relatively scarce; steady; bulls steady to strong; vealers, 50 to 75 higher; bulk to out- siders, 14.00a14.50. Sheep—Receipts. 18,000 head; slow; fat lambs mostly lower; early sales seven doubles Idaho lambs, 13.90: na- tives, 13.50a13.75 to packers; culls a big 25 lower at 9.00a9.50; sheep steady to weak; bulk ewes, 6.50a7.50; indica- tlons for a steady market on'feeding lambs; late Monday light feeding lambs, steady; héavy kind weak as compared to close last week: bulk, 12.50213.85; some sales 12.25 and below. e Baltimore Imports Decrease. Special Dispatch to The Star. BALTIMORE, August 10.—Imports through the port of Baltimore last week showed a decrease of $850,675, compared with the previous week, while exports increased $144,266. ac. cording to the weekly report of the collector of customs. Imports amount- ed to $1,762,729. of which only $472. 674 was dutiable; whils exports to- taled $3,692,400 and consisted princi- pally of copper, coal, grain, lubricat- ing ofl, ocatmeal, flour, raflroad car material, steel pipe, tinplate, paraffiin wax and coke. CHICAGO BUTTER HIGHER. CHICAGO, August 10 UP).—Butter— Higher; receipts, 14,064 tubs; cream- ery, extras, 39: standards, 39%a39%; extra firats. 383835 firats, 354226 4 unchanged; receipts, 11,460 Sy WOoOL BHEWVE. BOSTON, August 10.—The most en- couraging feature of the wool market s that a fair volume of wool con- tinues to move within the recent range of prices. Mills are receiving more orders for goods, as reflected in improved demand for tops and yarns. At the moment attention is directed to openings of fancy lines of light ‘welght goods dater this week for evi- dence as to the future trend of values. Department of Agriculture).—Hogs— | s average; better | out of line: light light and slaughter | pigs very uneven; best strong-welght | ve 13.35; these in | 50212.75; medi- | | BANKS' RESOURGES JUMP DURING YEAR Treasury Reports Increase of $1,000,000,000—Exchange to Elect Head—Notes. BY EDWARD C. STONE. Total resources of the 7,978 national banks in the United States, Alaska and Hawall on June 30, the closs of the fiscal year, aggregated $25,316.624.- 000, an increase of almost $1,000,000.- 000 over a year ago, it was reportad today by Controller of the Currency MclIntosh. The total resources amounted to $24.893.665,0000 on April 12, the date of the last national bank call, and $24,350,863,000 on June 30, 1925. Loans and discounts, including re discounts, amounted to $13,417.674,000 on June 30 this year. This was §116.- 368,000 more than in April and $743.- 607,000 more than a year ago. The percentage of loans and dis- counts to total deposits on June 30 was 63, as compared with 65.93 on April 12, and 63.66 on June 30 a vea: go. Cash in the banks totaled $359,951.- 000, & decrease of $7.822,000 sinca April, but an increase of $346,000 over June of last year. Total deposit liabilities amounted ta $20,642,164,000, an increase of $46§ 366,000 over April, and $732,495,00 over June of last year. Prices Strong on Local Board. Peoples Drug Store preferred mads a new high on the local stock exchange today when two flv-share lots changed hands at 105. Cepital Tra tion was also stronger than yesterday. 10 shares selling at 104. Forty shares of Natlonal Mortgage and Investment preferred sold at 814, and one sale of five shares of Mergenthaler Linotyps was recorded at 107. Railway and Electric preferred sold at 91. Bonds were very quiet, one transaction in Capital Tractlon bs registering 101 and two sales in Washington Gas 6% taking place at 1043;. ‘Washington traders were notified today that Mergenthaler Linotypa stock has been stricken from the New York exchange. There has been very ittle trading in this issue In New York for some time. Most of the trad- ing in it takes place on the Washing- ton exchange where it has long besn one of the leading issues and on tha Boston exchange which also records considerable activity in it. At today's meeting of the local ex- change Secretary Gockeler was in: structed to send notices to the mem- bers calling a meeting for September 15 for the election of a president to succeed the late John L. Edwards. 1t was deemed best to delay the election until the majority of the members have returned from their vacations. Advisory Committee Formed. In order to get the benefit of the advice ' and experience of Washing- ton’s senior bank officers of rthe local chapter, American Institute of Bank- ing, T. Hunton Leith the president. has organized an advisory committee and named the following members. Franeis G. Addtson, jr., vice presi- dent, Security Savings and Commer- clal; Victor B. Deyber, president, Sec- ond National; Joshua Evans, jr., vice president, District ational;, Robert V. Fleming, president, Riggs Nation- al; Harry V. Hayne: ers and Mec! vice & president, Farm- anics National; Howard president an Trust 5 Moran, Security president Federal-American National; W. W, B. Hibbs & Co.. and R. Jesse Chaney, past president of the Institute. Tt is considered that the sugges tion of these men will be of great value during the coming year. Tha class work at the Instituta opens in September and it is now expected that another course will be added to the corriculum. Refers to Miller Control. ) President W. W. Salmon of the General Rallway Signal Co., In his half-vearly report. just issued, says “Our ecompany has devoted a great deal of time and money toward per fecting devices which we already con trol and tn the acquisition of other devices which have been considered necessary. Our contract with the Miller Train_ Control Corporation. which was effected in June of this year, is an instance of the desire of our management to acquire such ap pliances as may be an important im provement upon or addition to those which we already have control of. “The major part of railroad mileags in this country is not yvet equipped with automatic signals. The installa tion of train control apparatus is still in its infancy, and we look forward to the time when practically all roads carrying a good volume of passen- gers will equip their lines and loco- motives with automatic train-contro! apparatus.” Saul on Telephone Board. B. F. Saul, realtor, has been electe a_member of the board of directors of the Chesapeake & Potomac Tele phone Co. to fill the vacancy o casioned by the recent death of Alex ander P. Britton. The membershij of the board is: A. E. Berry, presi dent; Charles J. Bell, John Poole, ¥ C. Graham and Mr. Saul of this eity and W. S. Gifford, president, and ¥ S. Wilson, vice president of the American Telephone & Telegraph Co New York City Childs Sales Gain. Childs Restaurants sales in .Julv were 2,050,235, against $1942,782 in July, 1925. Seven months sales wera $14,687,468, as against $13,450,511 for the same months last vear, a gain of $1,236957. Meuls merved totaled 3,902,300 in July, while in July las: year they amounted to 3,838,881 meals. Heavy storms over week ends cut down sales at resort locations, while the country-wide heat spell pre- vented July from showing as good a gain as June. McCrory Cash Dividend. The McCrory Stores Corporation yestérday declared a cash dividend of 1 per cent, equal to 40 cents, on the Class A and Class B common stock The dividend is payable September | to stock of record August 20. In the preceding quarter a dividend of | per cent in common stock was pald and on March 1 a cash dividend of 49 cents. w Other Financial Notes. The Seaboard Air Line has been authorized by the” Interstate Com- merce Commission to sell $8,000,000 of first and consolidated mortgage 6 per cent gold bonds at not less than 93% per cent of par and accrued interest. The announcement was made yes- terday by the commission. A profit of $2,714,347 before taxes is reported by the BSchulte Retail Stores Corporation for the first six months this year. This compares with $2,500,837 for the same period last year. Sales for the first half of this year were $18,038,552 against $16,710,095 for the first half of 1925. The share earnings on common stock for the period this year were $2.1 with $1.9 for last year. ‘The Chesapeake-Western Railway operating between Elkton and Stokes- ville, Va., a distance of 40 miles, will petition the State Corporation Com- mission for authority to discontinue operations, owing to motor bus com- petition.