Evening Star Newspaper, August 11, 1926, Page 24

FIN . TRADING FALLS OFF - ONSTOCK MARKET Yesterday s Decline Inspires Caution—General Motors’ Dividend Discussed. BY STUART P. ial Dispatch to The Star WALL STRE gust 11.—Following yesterd decline the stock market today pro- ceeded on the fdea tha position had strengthened the ri 3 safely ever, Iweek on the previ inspire ¢ considerably crations for might check administered and the volume husiness fell off substantially Estimates of the Ge dividend to be voted upon lnmunn\\ tran as high 2 per cent in stock This was purely speculative g it received credonce, that the market IMotors would prove jwell discounted the “when it came. Other Motors Variable. rs of the motor ziow After a 15 Tuesday Dupont h: talk for announcement - Other meml vari break on rally b with Some repurchasing of Hud sold at higher price: wted when the stock d During stocks lik land were clal buyin vement going on in Mack True of the fluctuaticn in the General Motors. on Motors, cler and Willys-Ov« L s, regardless general list, eekly lr.u]fl Teview. . Indepcsifent Steel s were 1 good deal mixed. For the niost part Bethlehen Steel and Cruci- ~d little Youngst point, whil *strong The sha were in Pipe and i'niv Other Stocks Strong. In the industrial section Southe Dafries B was active Ward Baking B rose did Allied Che Ktocks 1 partment s Butterick 1 revival of pund top figu manufactu “ast Iron e e ed in the oil selling of Standard ¥ was noted, but other oils were little ite all the encou ment given from broke recent. months, possible to awuken any terest in the oil group. ‘ WALL STREET BRIEFS | NEW YORE 11 (®).—The regular meeting tors of the American Sugar Refining Co., sch nled for today. has 1 postponed until August 13 because of inability to zet a quoruni. The meeting of Conti- nental Can directors, also set for to- day, was put over until tomorrow for action on preferred dividends A balance of §1 viding for the 1 shown by the profit and loss state ment of the Sheil Union Oil Corpora- tion and subsidiaries for the quart ended June oss income $19,0 of the genuine in- August ¢ the 44.485 bLefore pro income The Tidewater f1s first quarterly sociuted Ol Co. in statement after the consolidation of the Tide r Oil Co. and the 1 0il up to June r payment of preferres his is equivalent to a share on the common stock The Staten Island of the properties Gas & Electri ison Corpora of the irities of $610, previou: 1 the quir Pederal re on common Share earning for the same period last v were $1.7 it of gold to « he premium comn \ exchange, cont the shipment of Bank of Montreal The resultin od by Ca vester h 500,000 by the With director: 0. of Ne within a of the Standard Ol y scheduled to meet ports have heen evived that action may be tuken to atire the company's $200,000,000 pre ferre hrough the i; the same n shares. W ent of the company, has d cltned cuss the rumor If new com mon shares are issued, It is expected be offered to stockhold ion committee of the n ) rday issued Kholders and’ ereditors n extension of the time »sitx to August 21 A sub unt of th the company has already in assent to the reorgani limit on de; stantial ar and stock « heen pled zatfon plan Motor fiscal year ended July 3 . surpassing the best any year by 69.375 Retail ». for the were 240,424 c cars. Directors Tobacco ¢ the Americ Tobacco Co., today declired < Al dividend of $3.50 on the preferred stock, payable September 1 on stock_of record Au- sust 23 to BOURSE PRICES FIRM. PARIS, August 11 (). —Prices were firm on the Bourse today. Threa per rentes, Exchange on London Five per cent loan, oentimen. Tbe do'lar was quoted at 36 francs 10 centimes francs. 176 francs. 50 franes 75 SUGAR MARKET EASY. “NEW YORK, August 11 (#).—The raw sugar market was easy today. No sales were reported. Prices were unchanged at 4.27, duty paid. with offerings increasing at that level Raw sugar futures were weak dur- fng the forenoon session, with prices ¢ midday showing declines of 3 points w Proted by the increased offerings Fhe spot market and reports of & 0»{- active demand for refined t the internal | y was sufficient to | of ip. as did the General | to have pretty then settled down to | wter part of the time headed by | indebtedness | S 1 liquidation pro- | in | 1 ADbitibi Pow (4). Ahumada (v1).. Alr Reductn($5) Ajax Rubber.... Albany Paper. .. Alifed Chem (4). Allls Chalm ().. Amal Leather. Amerada (2). ( Am Br Bov E1(2) Am Br Bo pf (7). AmCan (2).. Am Car&Fdy (8) Am C&F pf (1) Am Chain A (2). 1| Am Chicle (3).. Am Drue. Am Expre: Am & For Pow.. Am & Fo P pf(7) Am Hide & Lea. . Am Hide & L pf. Am Ho P (2.40). Am Ice of (6) Am Internaf Am Linseed Am Linsd pf (7). Am Locomot (8) Am Mach & Fy.. Am Metals (4).. Am Po&Lt {g1). Am Radiator (4) Am Safety R (}) Am Ship & Com. Am Sm & Ref (T) Am S & Rpf (1) Am Stl Fdys (3). Am Sugar (5)... Am Sumat A cfs Am Tel & Tel(9) Am Tobacco (8). Am Tobac B (8) . | Am Typ Fars(8) | Am Wa Wo c1.20 Am W W 1st (7) Am Woolen. . ... Am Writ Pa pt.. Am Writ Pa ctfs Am Zincpf...-. Anaconda (3).. - Armour of TII(A) Armonr of 1I(B) Arnold Con (n). Art Metal (1)... Asso Dry G(2%) Atchison (7). .. At1C Line(19%) Atl Gulf & WI. .. At] Gulf&WI pt. Atlantic Refing.. | Atlas Powdr (4). ustin-Nichols.. Austin Nic pf(7) Baldwin L (7). Palto & Ohlo(5) ' Balto & Oh pf(4) Barnsdall A (2). Barnsdall B (2). Bayuk Clgar.... Beech-Nut (13). Belding Bros(3). Bethlehem Steel. Briggs Mfg (3).. Bkin Edison (8). Bkin-Mn Tr (4). Bkin Un G(t11). Brown Shoe (2). Brunswick Balk. Buff Roch& P(4) Burns Bro (10).. Burns By B (2). Burrongl Butte&Super(2) Butterick. Byer & Co | caur Packing(8) Caltf Petrol(2).. Callahan Zinc Calumet& Ar( Calume&H(1%). { Can Pactfic (10). Case Threshing. Cent Leather. ... Cent Leather pf. Century RibM.. Cerre De P (4).. Certain-Teed (4) Chand-Cle pf(4). Ches & Oh (112). Chi & Alton. Chi & Alton Chi Gr West pf. | ChiMI&StP.. Chi Mil & St P pf C Mil & St P ctfs C MIIGStP pf ofs Chi & Nwa (4)... ChiRI& Pac... Childs (32.40) Chils Cop (2%)- Christle B (1.20) er Corp(3) er pFA(8) l¢ meu Peab (5) | Ciuet Pea pf (7). | Coca-Cola (7). | Colltna & Atkmr Collins&Alk pf 7 Col Fuel & Iron. olo Southern. .. Colo Sou 1st (1) Col Gas & El (5) Col G & E pf (T) Col Carbon (4).. Com Cred (2)... Com SolvB..... Congoleum-N... Congress CEres: Consol Cigar.. . Consol Distribut Consol Gas (5).. Consol Textlle. . Cont Can (16) Cont Mot (80¢).. Corn Prod(t2%) Coty Inc (4). rown Pa 1st(7) Crucible Stl (6) . | Cuba Cane Su pt. Cudahy Pkg (7). Cushman's (8). | Cuyamel Fr (4. | Davison Chem. . | Del & Hnd (9).. | Del L & Wn (+7) { Detroit Ed (8).. | Devoe&ta(2.40) Dodge Bros Cl A | Dodge pf (7).... | Dome Mines (2). | Dourias Pec (1). | Dupont (119) . Dupont deb (6). | Duquesne pt (7) Eastman (18). Katon Axle (2).. Eisenlohr & Bro. Electric Roat. Elec Power & Lt Eiec P & L pf(7) EP&LpL 40%(7) Elec Refrig(f2). Eiec Sto Bat(16) Flk Horn pf. . . Emrsn-Br pf cfs Engineers Pub § ErifeRR... . Erie 18t pf. Erie 2d pf. Eureka Vao (4). Fatrbanks (3).. { Famous P1 (32) Federal Truck. FrstNP 1st10.44. Fisk Rubber. Flefschmn (12%) Foundatfon (8). Fox Film A (4) Freeport-Texas Gabriel A(14%). Gen Am Tnk (3) Gen ATC pf (7). Gen Asphalt. ... Gen Cigars (4) Gen Elec (I112) Gen Elec sp(60c Gen GRE A E1% Gen Motors (116) Gen Mot pf (7). Gen Outdr Ad(2) Gen Ry Sie 4% | Gen Ry S vt (6). n |.FfiRC ). mbel Bros. . Giidden (2 Gold Dust. . Abrahm&Straus. Adv. Rumley.... Ad Rumley pf(3) 56 Am Agricul Chm ' Open. 81% 49 14% 8% uou 2'1 l'i7‘6 s (14). 1 33w 89% 45 85's 18 1% 27 20% 91 % 35 26% 104% 3 53 67 115% 65% 8% 187% 118% 45% 72% 82% 145% 118% 39% 42% 111% 8% 12 65 118 101 2% 26% 24% 55 86 184 18% 0% 50% THE EVENING STAR, WANHINGTON, D. U. 'WEDNESDAY. AUGUST II, 19%. Goodrich Ru (4) Goodyear pf (7). Goodyr pr pf(8). Gotham S H new Gould Cou (2) Granby Consol. . Grt North pt (6) Gt Nor Ore (1%) Grt Wstn Su (8) Green Canan. ... Gulf Mo & Nor. . Gu M & N pf (6) Guif States 8 (5) Hartman. Hayes Wh HelmeGW pf('n Hoe& CoA..... Houston Of1 Howe Sound (3). HudsonMan(2%: Hudson Mo(3%) Hupp Mot (1)... [1nots Cen (7). Indep O11 (1)... Indlan Refgctfs. Ingersoll R (t4) Inland St (234). Inspiration (2).. Interurb Rap Tr. Intconti Rub(1).’ In Ag C pr p2(7) mtBus e (3).. Int Harvatr(6). IntMtch nf(3.20) Irt Mer Mar pf.. Int Nickel (2)... Int Paper (2)... Int Ry CA pf (5) Int Shoe (6)., .. Int Tel & Tel (8) Int T&Teleg rts. Jewel Tea.... Jewel Tea pf (7) Jordon Mot (3).. Kan City South. KayserJ (3).... Kelly-Spring. Kennecott (4). .. Kresge S8(1.20) Lago Ofl & Tran. Lambert (3%).. Leo Tire & Rub. Lehigh Val(3%) Leh&Tink stf(3) Life Sav (1.60).. Liggett & M (t4) Tig & M B (14).. Lig &M pf (7).. Lima Loco (4) Loew’s Inc (2) Loft. . Long Bell A (4). Loose Wiles. Loose W 2d (7). Lorillard(3).... Loulstana Ofl... Lou&Nash(16%) Ludlum Steel (2) Mack Trucks (6) Macy HR & Co.. Macy pf (7). Magma Cop (3). Man El Sup(5%) Man El gtd(D5) . Manila Elec (2). Maracaibo OIl... Market Street. .. Marland Ol (4). Marlin Rock (2). Mathleson (4).. May Dept St (5). Maytag Co (2).. Mexican Seabd. . Mtami Cop (1).. Mid-Continent.. Mid.Cont pf (7). Middle States. .. Minn & St Louls. Min St P & SSM. Mis Kan & Tex. . 0 K & T pf (8) 1ssour! Pacifie. ssourd Pac pf. Montana Pow (6) Montgom Ward. Moon Mot (3)... Mothr Lode(75¢) Mo Plcture(1%) Motor Met(3.60) Motor Whi (2).. Murray Body... Nash Mot (13).. Nat Biscult t4% Nat Cash Reg(3) Nat Cloak & Suit Nat Dairy (3)... Nat Dpt Stores. . Nat Distillers. .. Nat Distillers pf Nat Enamel & S. Nat Supply (4).. Nevada Cop (1). NY Alr Brake(2) N Y Canners C2. NY Cannrs pf (6) NY Central (7). NY Dock. .. NY Dock pf (5). NY & Harl (5).. NY NH & Hart.. NY On & West NY Rys part efs. Niag F pf (1%). Norfolk South. . Norfk & Wn (18) Norf & W pf (4) North A (B3.40). North Pac (5) Norwalk (80¢). . 011 Well Sup (2) Omnibus....... Onyx Hos (3.20) . ‘Oppenheim (3).. Orpheum Cir(2) Otts Elevator (6} Ouzlet Co pf (T). Owens Bot (t4). Pac Ofl Stubs. .. Packard (12.90). Pan-Am (8) Pennsy R R (3). Penn-Seab Steel. Peoples Gas (8). Pere Marg (18) . Pere Marq pf (5) PhilaCo (4).... Phila Co pf (3).. Phila&RC&I. Philip Morris. .. Phillips Pet (3). Phoenix Hoslery Plerce-Arrow. . . Plerce-Ar pf (!) Plerce O1l. Pierce Petrolm. . Pitts FtW pf (1) Porto Rico Tob. . Postum (5)..... Pressed stw(n) Pr Sti Car pf (7) Prod & Refiners. Pub Ser NJ (). Pub Serv pf (6). Pub SE&G pf(6) Pub SE Po pf(7) Pullman Co (8). Punta Aleg Sug. Pure OHl (1)..... Pure Ol1 pf (8).. Radio Corp of A. Radto C pf (3%) Ray Cons Cop (1 Resding (4).... ReadIng rts..... Reld Ice Cm (8). Reld IceCr pf(7) Remington Type Replogle Steel . . Rep Ir & Stl (4). Rep1& S pf (T). NEW YORK STOCK EXCHANGE' Received by Private Wire Direct to The Star Office Open. High. lmv.C)o-a. 50% 50 105 105! 108 50 16 24% 6% 19% 96% 20% 35 105% 3 27% 1 1 G 35 58% 87% 38% 69 25% 120% 26% 10% 91 423 25% 105 16 64% 30% 3% 52% 63 167 118% 8 38% 124% 24% 44% 135 36 129% 110% L 117% 100% 102% 113 111 85' 264% 111 43% Rey Tobac B(6). Robt Rels & c«. Royal D! Rutland pf. Satety Cable (4) St\raseph L(13). StL & SanFr (1) St L Southwest. Schulte (§8). ... Seaboard Air L. Seabd Afr Lipf. . Shell Un pf (6). 88% 564 51 51 4% 43w 41% 2 2 105% 106% 105% SOt 417 27% 108% 49% 49% 106% | HIGH-GRADE BONDS | SHOW RECESSIONS| “’Slight Falling Off Brought About by Hardening of Money Rates. BY GEORGE T. HUGHES. Special Dispateh to The Star. NEW YORK, August 11.—Harden- ing of money rates brought about fractional recessions in high-grade bonds today, but offerings were not large and there was no pressure to sell. A more important test will come later in the month with the expected increase in new financing. The gight losses of the day were recorded in such bonds as Atchison General 4s, Baltimore and Ohio_first 4s, New York Central s, New York, Chicago and St. Louis 51s, Baltimore and Ohio Southwestern 5s, among the rails and Consolidated Gas 5%s and United States Steel sinking fund bs, among utilitles and industrials. 3 Rails Are Irregular. Movement of the high yielding rails was very lIrregular. International Great Northern adjustments, which had been a feature of the market all the iweek, dipped below 77 and then rallied. In the same way Denver and Rio Grande Wi s with subsequent recovery. Missouri, Kansas and Texas adjustments were In good demand and Seaboard Air Line issues were well supported, so were Chicago, Terre Haute and Southeast- ern obligations, A sharp advance in Granby Mining 75 featured the industrial division. The bonds reached a new high today approaching 115 in sympathy, with the rise in the stock. Other copper bonds were firm and so were most of the steel issues, although Trumbull Steel 63 reacted early in the day. There was a better market for Inter- borough Refunding 5s, stamped and unstamped, than in a_long time. Third Avénue bonds and New York Railway 6s were likewise higher at one time. Ofl issues continued to drag. Some of the sugar bonds were a shade higher. Foreign bonds marked time, ing and selling orders being well matched. Bogota 8s, however, lost a point at 103, and Brazil 7s were down slightly. New financing is anticipated shortly for account of Havana Electric. It is expected that the new bond will carry attractive stock purchase privi- leges. Another new offering scheduled for the near future will be $15,000,000 30-year 53 per cent debentures of Yorth American Light and Power was announced that the Han- e fonal Bank had bought $3,- 000,000 in 10-year 7 per cent notes of the Scranton Coal Co. and $1,600,000 in 10-year 7 per cent notes of the Elk Hill Co., both anthracite mining sub- sidlaries of New York, Ontario and Western. buy- Co; M $3,000,000 Loan in Germany. BERLIN, August 11 (#).—Dlllon, Read & Co. has concluded arrange- ments for a $3,000,000 loan to the Berlin electrical works. These works embrace the municipal power and light plant. | Shubert Theatre 674 2 Simmons($2.35) Stmms Pet (1) Sinelair O11 Sloss Sheft (8).. South Port 8 (6) Sou Cal Edison. . Sou Dairfes A(4) Sou Dairfes B... South Pac (8). Southern Ry (7). South Ry pt (6), Splcer Mfg...... Std Gas&El (g4) Std G & El pf(4) Std Mill (5) Std 011 Cal SO NJT (1).. §td O11 NJ pf(7). Std Plate Glass. Sterling Pro (5). Stewart War (6) Stromberg (€)... Studebaker (5).. Submarine Boat. Sun Ofl (11). Supertor Ofl... Sweets of Amer. Symington. Symington Tenn Copper (1) Texas Co (3)... Tex Gulf S (10). Tex & Pacific. .. Tex & Pac C & O Third Avenue. .. Thompson(3.60) Tide W Ol pf(5) Timken (14).... Tobac Prod (7). Transcont Oil. .. Un Bag & Paper. Un Carbide (5) Un Ol (2).. Un Pacific (10). Un Pacific pf(4). Utd Clgar S(c2). Ctd Drug (8)... United Fruit (4) U S C1P&F(10) U S Distributing U'S Ind Alcohol. S Sm pf (33%). U S Steel (7) U S Steel pf (7. Unlversal Pipe Univ Pipe pf (7) Utl P& Lt A (e2) Vanadium (3). VanRaalt 1st(7). Vick Chemical.. Va-Caro Ch(n).. -CarCh 6% pf Va Iron Coal & C Vivaudou. 5 Wabash.......e Wabash pf A(6). Waldorf (1%).. Walworth (1)... Ward Baking B. Ward Bak pf (7) Warner Bros. ... Warren Bros (4) Weber (4)...... West Maryland. West Pacific. . West Union (8) . West A Br(16%) Westinghse (4). Whize Eagle (2) White Mot (4)... Willys-Overland Willys Od pf Wilson & Co new Wilson A (new). Wilson pf new. . WoolwthFW (15) Worthn Pump. .. Worthtn A (7). . Wright Aero (1) Wrig Wm (14).. Yale&Town(15). Yel T&C(76¢). .. Yel Tr&C pf(7). 103% 103% Youngstown (4) 924 934 90% 904 Dividend rates sa siven in the sbave table are the annual fitest auarterly or b2t Yeary ‘deciara lon ted. exira or spect xtra. 4 Waruy e Phis 45 1n m'— in common stock. ble 1% quarterly. this year—ni common, % Plu e 5 °«k.. ;Tw cial stock. ) Btock. TPlus 3% 0 N NEW YORK Racelved by Privat UNITED STATES. (Sales are in $1.000.) Slh High. Low. Close. b3¥e.... 11014 1014 1014 Lib1st4%s 651024 1022 1022 Lib24a 4%s. 161 100 25 100 23 100 23 T.4b 3d 4% 77 1017 1014 1016 Lib 4th 438 172 102 15 102 11 102 12 Ull%l 110118 10118 10118 % 1 108 29 103 29 108 29 UB lKlll.r 4 10727 107 25 107 27 FOI‘(EIGN.1 - ‘Higl Argentine 6s Ju 9. 81 904 Argentine 6s Oct 62 37 99% Low. Close. 99 99% 99 99 99 89 99 99% 100% 100% 954 98% 102% 102% 964 96% 100 100% 86% 86 814 1% 93% 93% 107 107 106% 107 101% 101% 85% 8% 94 95 107 107 104% 104% 101% 101% 102% 102% 101 101 101 10! 109% 109% 1094 109% 94% 94% 99Y% 99% 1015 101% 99% 997 102% 103 102% 102% 1 1% 111 111 1% 103% 108% 103% 108% 103% 105% 106% 105% 105% 89 89 99 99% 91k 91% 91k 91% 964 96% 102 102% a1k 1% 106 105 99% 99% 1024 102% . 98 98 83K 83% 100 100 88% 88% 89% 89% o7 97 86 86 857 86% 264 25% 28% 23% 43 43 100 104 109 80 98 9 101% 101% 100% 100% 100% 100% 91% 81% 5% 76 85% 85% 84 84% 9% 99% 68% 68% 86% 86% 102 102 101 101 1054 105% 113% 113% 1074 108% 103% 103% 101% 101% 103% 103% 106 105 105 105 984 98Y 88 188 92 92% 84 84 103% 103% 104% 104% 103% 103% 118% 113% 94% 95 118% 118% Belgtum 7s. Belgtum 7%, Chile 85 1926. Chile 8s 194 Chile 85 1941 Con Pow Japan 7s. Copenhagen 5% Cuba 534s..... Crecho 778 ret Czecho 8s 1951. ... Czecho 8s 1952 ot. Danish Munic 8s A. Danish Munic 8s B. Denmark 6s. Dutch East 68 47. Dutch East I 6s 62. Finland s £ 65 45. Finland7s....... Framertean T4 Ger Gen Elec 78 Haiti 6s. ... Holland Amer 6 Hungary 7%s. . Italy 7s. Japanese Mexico 4s 10 asntd. Mexico s assented Montevidio 7s. . Netherlands 6s 54 Netherlands 6s 72 Nord 6% Norway Norway 6s Norway 6s 1944 Norway 6s 1952 Orlent Dev deb 65. Paris.Ly-Med 6s. Porto Alegre 8s. Prague 7%s Queensland Queensland 7s. Rhinelbe Un 7s. Rto de Jan 8s 19 Rio de Jan 88 47 Rio Gr Do Sul 8s. Sao Paulo City 8s. Sao Paulo 8s 1936 Saxon (PW) 7 Seine 78 42........ Serbs Crot Slo §: Solssons 6s. Swiss6%s Swiss Confed 8s. Toho Elec Power 78 18 Utd Kingm 5% 29. 2 Utd Kingm 5%s37. 60 105% 105 105 Utd Steam Copen 61 2 87% 87% 8% MISCELLANEOUS. Am AgriChem 7%s 1 104% 1041 104% Am Smit& R 1st 6s 13 100% 100% Am Smit& R és 108 108 Am Sugar ref 6s. 103% 104 AmT&Tecl tr s 98 98 AmT &1 cltrbs 102% 102% AmT&Ts6s.. 100% 100% AmT& T deb5%s. 15 106% 105% Am Water Wks 5s. 99 99 Anaconda 1st 5 102% 1087% Anaconda ov d! 107 107 Andes Cop s rets. . 102% 102% 93% 93% 102% 102% 101% 1014 97% 914 1024 103% 108 103 9T% 974 101% 102 97 9Ty 101% 101% 168% 160% 99% 9914 104% 104% 101% 1017% 107% 107 100 100 100 100 105 105 824 824 106' 105% 100 100 9 95 108% 108 9% 974 107% 107% 6 9%y 9% 95 103% 1037% 103 103 106% 106% 1104 110% 121 121 101% 101% 974 974 1025 1025 88 88 96% 96% 100 100% 108% 108% 1024 1024 105% 106 104% 104% 99% 9974 14 108% 1084 101% 101% 124 124 9% 99% 99% 100 . 104% 105 96% 9614 101%.101% 86% 86% 101% 101% 10244 1023% 1164% 1154 Beth Steel pm bs. Beth Steel rf 5s.... Beth Steel 6%8 58. 30 Beth Steel 6s. .. 35 Bklyn Union 5%s..101 Bush T Bldg 6s 60. Calif Pete 6%s.... 12 Cen Leath 6s 45 cfs 22 Chile Copper 6s 32. 29 Consumers Pow 5s. Cuba Canecv 8s... Cuban Am Sug 8s... Denver Gas 5s. . Det Edison ref 6s. Dodge w | 6s. Donner Steel 7: . Est Cuba Sug 7%s. Empire G & F 74s. 11 Goodrich 634s..... 8 Good year 85 1931.. 16 Goodyear 83 1941.. 20 Hershey 53%8...... l; % Kan CP&L b8 A 82. Kan G & El 63 52 Kelly-Spring 8s.... Lackawa S6s£0... Laclede G 6%s 52.. 38 Liggett & Myers 6 Liggett & Myers7s 1 LouisvG & E 68 62 21 Manati Sugar sf 7% ‘5 Mor's & Co 15t 448 New Eng Tel & N Y Eaison Gs 44 N Y Edison 6%s. .. NYGEL H&P bs. North Am Ed Nor Ohlo T & L 6: Nor States Pow 68s. Nor States Pow'ss. 105% 105% 99% 99% 101% 102 101% 101% 1064 107% 106% 105% 102 102 104% 1043 100 100 107% 107% 108 103 108 108 104 104 2% 93 9814 98% 101 101 91% 91% 102% 102% 98% 98 104% 1047% 108 108 94 U4 108 106 9Tl5 HT%H 98K 954 1 6 Pan-Amer Pete 75. Peoples Gas 58 PhilaCorfésA... 1 Phila & RAC&I5s 28 Plerce-Arrow 8 Toledo Edn 1st 7 USRublstrebs.. 1s . { U S SteelsfBs.... Utah Fow & Lt bs. Vertientes Sug 7s. . Warner Sug 78 39.. 6 97% 1 98% 1 61 ¥ EXCHANGE DS STOCK e Wire Diréct to The Star Office. jales. High. Low. Close. T 841 83% 84 . 16 100% 100% 100% 13 106%_105% _! IO&% 9 1024 102 | 1 984k 984 Youngstrn 8&T 3 104% 104% NAILROAD. ‘Warner Sug 7s 41.. 92% 9% 3% a1 96% 98% 102% 102% 103 102% 107% 106% 91% 90 100% 100% 804 804 96% 961 90% H0% 99% 994 115% 115% 86% 854 107% 107% 9l% 9l 101% 101 $8% S8% 95% 95% 142% 142% 68% 68% 874 b67% 924 917% 4 106% 106% .23 93% 983% 14 7% 7% v 69 68% 63% 58% 55 4% B4% 54k 65 63 55 64% 54% 644 b5 B4k 92 92 66% 65 5% 164% 56 b3 B4% 61% 103% 108% 88 87 111% 111% 107% 107% 72% 12% 90% 90% 89% 8% 98 08 1044% 104% 102 101% 117% 117 83% B85% 104 104 1024 102% 103% 103% 109 109 $8% 98 92% 92% 113% 118 103% 108% 80% 90% 95% " 98% 72 0% 9% 19% % 1% 3% 5% 5% 5% 826 82 107 107 110 110 110 110 98% 98% 98% 98'% 107% 107% 925 92% 100% 100% 106% 106% 113% 113% 104% 104% 96% 96% 8i% 3l% 9213 924 103% 103% 101% 101% 4% T4% 4% T% Bklyn Manhat Buff R & Pitt I%l. Can Nat 4%s830... Car Clinch & O Central Pacific CB & Q-1 div 4s. Chi&EIgn Chi Great West 4s. CM & Puget S 4s. CM&StP4s26... C M & St P 4s 25 of CM&StPdb4s... CM&StPdeb 4s ofs. M & St Pev4Ks. CM&SPev4 ¥ s32cfs CM&StPgn4l% CM&St Pridys. . CM&StP r 438 of14 CM&StFcvbs... CM&SP cv 5s cfs 14 CM&StP6s. Chl & NW gen 48 Cayad North 63s. . Chi Unlon Sta bs. .. Chi Union Sta 5s 44 Chi Union Sta 6%3s. Chi & W Ind cn 4 C& WI5%s62. Del & Hud 1st It 48 Del & Hud cv 58 35. Erfe 1st cons 4s. . Erle gen 4s Erieconv 4s A. Erle conv 4s B. Frle conv 43 D. Erle conv ext 78 Erie & Jersey 6 Erle Genessee R Erie (Pa) cit tr 4s. FlaECb6sT4...... 19 Gr Trunk sf db8s... | Gt Nor 43%s 76 D.. 29 Great North 5s. ... Great North 5%s.. Gr North gen 7, Havana ERL&P 50. 36 111 Central ref 4s. 111 Central 5%s. 11-C-C SL&NO 63. Int Rap Tranb6s... 83 Int Rap Tr bs. ntpd zsa Int Rap Tran 6s. Int Rap Tran 7s. Int & G Nor 1at 6, Int & G Nor ad Towa Cent 1st 58 Kan City Ft S 48 Kan City 8 bs. Kan City Term 4s. Lake Shore 4s 28 Lake Shore 43 31 Lehigh Valcn 4s Louls & Nash 7s Man Ry 1st 90. MINEIRY & L M&StL1stre4 M St P & SSM en MStPRSSM5sisgtd 56 Ge 58% 58% 924 92 974 674 87% " 87 024 987% 9% 9% 85% 85% 106% 106% 66k 9% 13% 88% % 98% 103% 1034 86% 264 847 8% 93% 82% 101% 101 2% 124 724 97% MK&Tadj6bs.... MK&TprinbsA. 10 Mo Pacific gen 4s.. 50 105% 105% 106'% Mont Trm ref 65 41 7% 9% 9TH New Or Term 4s... 88% 85% 85% N O Tex &M in 6s. 9914 99% 994 9% 99% 997 9105 105 105 9% 79% FINANC WHEAT STARTS DOWN; CORN HITS HIGH MARK U. S. Government Crop Figures Re- sponsible for Setback in Wheat Market. By the Associated Press. CHICAGO, August 11.—Wheat val- ues turned downward today after a wavering start, whereas corn touched a new high price record for the sea- son. In each case United States Gov- ernment crop figures were the domi- nating influence. Opening at % de- cline to % gain, the wheat market underwent a material setback all around. Corn opened unchanged to 1% higher, but later receded from initial top figures. Oats held about steady. The provision market sagged. ‘With the United States shown offi- cially to have 71,000,000 bushels great- er wheat production than was forecast a month ago, bullish aspects of the Canadian government crop reports were largely counterbalanced today. In this connection due notice was also taken here of the fact that the com- bined United States and Canadian ex- port surplus indicated for this season is of more liberal size than has of 7 £8% 88y "96 '96% 97 96% 104% 103% 104 103% 1087% 10315 163% 103% 671 67 108% 103% 2 8% 3% 281 NYCrfim I%sll NYCentri6s..... NYChI&StL 5% sA. NYChi&StL 6%sB. NYC&StL6sA.. New Havd 4s57... Norfolk & W cn 4s. Nerthern Pac 3s Northern Pac 4s. Nor Pac 4158 2047. Northern Pac 53 D. Northern Pacr 1 6s Ore & Calif 1st 5: Ore Short L rfs 4a Ore Wash 1st rt 4 Pennsyl con 4%s. Pennsyl gen 434s. Pennsyl 58 64..... Pennsyl 6% Pennsyl gold 7s.. Pere Marq 18t b PCC&StLGs B Port RL & P 58 42. Reading gen £%3. Rio G W 1st 4s. Rio G West cl 45, RIArk& L 4% StL &S F pl 4 St L &S F prin 5 StL&SF 6%sD. St L &S Fadj StL&SF inc StL&SF pl 6 SlP&KCShL‘%. St P Un Dep bs. . IDIK 101% 111% 111% 100% 100% 102 101% 1% 11% 107% 107% 102% 102 102% 102% 92% 924 1017 xom 7% 97y 9% 94y 102 102 90% 904 £ los 104% Sou racino rex Southern Ry gen 4s u Sou Ry con 58 94...'10 Sou Ry 6s 66 Southern Ry 6%s.. 10 Texas & Pacific 1st | Third Averef 4s... 4 Third Ave ad] b Tol Tr L&P 5%s 30 Union Pac 1st 0!. Union Pac Unton Pac 8: % 1073% 107% 111% 111y 1% 117% |:5K 105% 7 28 2 lfi 2 102% 102% 22 102 101% 5 99 99 1 100% 100% 18 103% 1034 3 2% T2% 12 Western Pacific 6s. 19 99% 99 994 FINE WOOL IS DEMAND. Special Dispatch to The Star. BOSTON, August 11.—Fine and ‘medium territory wools continued in best demand today. Some improve- ment was noted in foreign wools, with sales of very choice lots of Australian 64x70s made at 1.00a1.05 clean basis in bond, considerably above domestic parity. Top makers are reported to be accepting business at June prices, as a result of Ereuun exerted by the low, basts for late seemed probable. Both December and May corn today commanded at times the highest prices yet this season. In addition to the Government’s corn harvest fore- cast having been cut 84,000,000 bush- els from last month's estimate, the corn market was strengthened by re- ports of turther deterforation and by fears of frost danger. Houses with Eastern connections, though, were prominent as sellers on today' up- turns in price. WHEAT— September December . Clare. 1.3615 a1 1483 High. . 140 1441, ay D 1aas CORN. September December Mo A September December RY September December LAR September October . October BELLIE: October Baltimore Markets Specia! Dispatch to The Star. BALTIMORE, Md., August 11.—Po- tatoes, barrel, 1.25a4.00; bushel, 75a 1.50; sweet potatoes, barrel, 4.60a10.00; ams, barrel, 4.00a8.00; beans, bushel, 751,158 beets, 100, 2.00a2.50; cabbage, 100, 2.00a4.00; carrots, 100, 3.00a5.00: celery, crates, 2.00a3.00: corn, dozen, 10 a20; cucumbers, basket, 40a50; ezg- lettuce, bas- bushel, 1.50a 2.50; 75a1.00; peas, bushel : peppers, basket, 25a35: squash, hx sket, 25a35; tomatoes, ri basket, 25a50; tomatoes, green, 25a50; apples, barrel, 1.00a2.50; bushel, 40a 1.25; blackberries, quart, 123al6: can- taloups basket, 25a80; neyde 1.50a2.00; peaches, bushel, 75al huckleberries, quart, 15a18: watermel: ons, 100, 8.00235.00. Grain and Hay Prices. ‘Wheat—No. 2 red Winter, domestic, spot, 1.44; No. 2 red Winter, garlick) spoty 1.36. Sales—Bag lots of nearb; at a range of 1.15 to 1.30. Corn—Domestic, No. 2 yellow, 91a92 per bushel in carload lots; No. 3, spot, export, 861; No. 3, Spot, export, 8415, Oats—No. 2, 5213253 per bushel; No. 3, 51 per bushel. Rye—Nearby, new, 90a1.00 per bushel; No. 2 export, spot, no quota- tions. Hay—Receipts for today, 23 tons. Desirable qualities of old hay are sparingly offered, and on the better grades of old timothy and choice light clover mixed the market is firm, but low grades of old hay and new hay that arrive in heated condition are hard to move at any pric Quotations, per ton, today—No. 2 timothy, 26.00a26.50; No. 3 timothy, 23.00224.0 . 1 light clover mixed, 24.50225.00; No. 2 light clover mixed, 22.00a23.00; No. 1 clover mixed, 24.00a.| No. 2 clover, 20.00a21.00. traw—No. 1 wheat, 13.00a14.00; 1 oat, 15.00a15.50. Dairy Products. Live poujtry —Spring _ chickens, pound, 28a35; Leghorns, 25a30; old hens, 28a35; Leghorns, 20; old roosters, 18; ducks, old, 15a22; pigeons, pair, 20a35. Eggs—Recelpts, and nearby firsts, 2814a30. Butter—Good to fancy creamery, pound, 39ad1%; prints. 42a44; blocks, 41243; ladles, 32a33; rolls, 24a26; store packed, 24; dairy prints, 24a26; process butter, 35a36. COTTON GOEES ~QVUIE'L‘. NEW YORK, August 11.—The cot- ton goods market continued quiet to- day at unchanged prices for print cloths, which were quoted at 75 for 64x608 and 8% for 68x72s. Raw stlks were quiet at slightly improved prices. BOND MATURITY EXTENDED. The Interstate Commerce Commis- sion today authorized the Gettysburg and Harrisburg Railway- to’ extend from October 1, 1926, to the same date in 1956 the maturity of $563000 of its mortgage bonds. The commis- sion also authorized the Reading Com- pany tb assume obligation for the bonds. 2 No. 591 cases; native dozen offered at BIG STEEL YEAR SEEN. NEW YORK, April 11 (#).—The opinior is growing among producers and consumers that 1926 will exceed 1925 as a steel year, says Iron Age in its weekly market summary. In so far as the first third of the month is a gauge, August promises to equal July in steel output and in volume of specifications and new business, while indications accumulate of a continu- ance of the present sale of activity into the Fall. Increased buying of sheets at firmer prices is reported. —_— CHICAGO POTATOES STEADY. CHICAGO, August 11 (#).—Pota- toes—Receipts, 47 cars; total United States shipments, 601; on track, 156 cars; supplies liberal; demand and trading moderate, market steady; Ki sas and Missouri sacked Iris] blers, 2.00a2.15; Minnesota sacked ear- 1ly Ohios, 1.70a1.80. DIV IDI{N DS DECLARED. - Stock of e Glidden & C: do ot RapRea S 't Nat No Penn R R Quaker | Oata o do pt Mo 7 D) e ) AR et e St R{ 50 1s. pasable Jan: 16, 1027, to stock of < payable Jan record date Aug. 28. & 1m talinent i« payable Oct 1 1o stock A I IAL. MFADDEN APPEALS TONATIONAL BANKS Ur&es Bankers to Give Views to Congress—Local Stocks Strong—Other Notes. BY EDWARD C. STONE. Into the limelight again comes 1ha McFadden banking bill, Chairman Mecs Fadden of the House committee on currency and banking and author of the original measure, having sent out letters to national banks urging banke ers all gver the country to decide on a policy toward the Hull amendments and express their wishes in unmistak- able language to their Senators and Representatives. “It 1s suggested that you give thoughtful attention to this situation,” Mr. McFadden's letter reads, “and de- cide whether you are willing to have the entire legislation lost because of n dispute over a question that is to a great extent academic. The proposed legislation is in the interest not onl of the national banks but it is a m: ter of serious concern to the business interests of the United States, hecause, if this bill does not become a law, the surest foundation of the Federal re serve system will be weakened by the n_of many national banks ate banks. Issue Put Up to Bankers. “If you feel that city branch bank ing should be confined to the 2 that now permit branch banl are earnestly requ wishes known. If national banks located in the other 26 States that do not authorize branch banking now, should be permitted to engage in city 'branch banking aute matically in the event the laws of those States are changed to favor branch banking, you should tell 3 Senators and Representatives you belleve the Hull amendment should not be included in the bill The main purpose of the Mc den-Pepper bill is to enable national banks to compete fairly with State banks and to establish a national pol- icy with respect to branch banking “The House,” Mr. McFadden says “in’ restricting the privilege of city branch banking to national banks in those States that authorize branch bankings at this time, believed it wax carrying out the wishes of the banik ing fraternity as expressed by tie resolution of the Amprican Bankers Association, adopted at the Chicazo convention, which approved the pro posed legislation. Local Stocks Are Strong. Potomac Electric Power preferred sold at 108 on the Washington Stock Exchange today and the interim cer tificates at 106%. Washington Rail- way & Electric preferred opened at 908 and closed at 91. Mergenthaler opened at 106% for 1 share and closed at 107 for 20 shares. Natlonal Mortgage & Investment preferred was another stock to advance during the session, opening at 8% and go ing up after call to 8%. Many more bank stocks than usual eppeared on the board, trad- ing starting with elght shares of Federal-American selling —at 310, Fifteen shares of National Bank of Washington went at 285 and seven shares of American Security & Trust at 375. The most active bank stock trading was in Contineial Trust shares, the issue opening at 91% for 20 shares, advancing to 91% for a 10-share lot and closing at $1% on a 20-share transaction. The only sales in the bond divisiory were two $1,000 Capital Traction 5s at 101%. Maj. H. P. Erwin Takes Charge. Business is golng on as usual in the office of John L. Edwards & Co., 1416 H street northwest. Maj. Henry P. Erwin, the active partner, who has béen assoclated with Mr. Edwards since 1920, is taking full charge ofsthe business, D. P. Gafllard remaining as special partner. The excellent office organization built by Mr. Edwards and Maj. Erwin is continuing ander the management of J. William Har rington, essisted by Robert P. Jones and Charles Carroll Morgan, who is manager of the bond department, and John E. Parker, Mr. Edwards’ son-in- law, who recefved his early business trafning under the instruction of the New York office of the brokerage firm of Hornblower & Weeks; Alfred C. Flather and Josephus N.,Thompson Undoubtedly, there will be no change in the iness policies established by Mr. Edwards and bl partners. Assistant Cashier Elected. At a meeting today of the board of directors of the Potomac Savings Bank Elmore T. Burdette was elected assistant cashier. The new official was with the Riggs National Bank for nine years and has been with To- tomac Savings since 1919. He was born and reared in Georgetown, re- celving much of his education in the publio schools in that section of the city. He will be one of the younger bank cashiers in the Capital, as he is only 34 years old. Made U. S. Bank Examiner. W. T. Van Doren, former receiving teller in the Commercial National Bank, has been appointed one of the assistant national bank examiners in the fifth district. The new examiner Joined the Commercial National staff about six yvears ago and had ad vanced rapidly until he received his present appointment. He is a grad- uate of the local chapter, American Institute of Banking. Committee Meeting Today. The board of governors of the in- stitute will hold a meeting late this afternoon to discuss the budget for the coming year. The ways and means committes, of which R. Jessa Chaney 1s chairman, met yesterday and prepared a report to be presented at the session. The educational com- mittes, I. J. Roberts, chairman, also met yesterday and will outline plans at today’s gathering, the matter of arranging for next year's teaching force being the most important mate ter now before this body. The American Telephone and Teles graph Co., while it gained in gross for June and the first six months, showed a loss in operating income for the same perfods. June gross amounted to $7,493,214, compared with $7,010,238 in’ June, 1925. Operating income for the past June was $2,933,17 $3,052,354 in the preceding Bix months’ gross was $45,226,978, against $41,606,965 for the same perlod last year, while operating income for aix months came to $18,215,025, as com- fnrlmzsmm $18,657,406 for like period n 1925. Other Financial Jottings. Frank Owings, assistant cashfer f the Bank of Comerce and Savings, will start on his annual vacation next week. He will spend most of the time at_Atlantic City. Bankers who are golf enthusiasts were greatly interested in the Asso clated Press report from Hot Springs vesterday that Willlam D. Hoover. president of the Natjonal Savingsand ‘Trust Co., had made a hole in one. It was the 199-yard fourth hole on the difficult Cascades course. One of his friends here today intimated that luck might have played some part in the remarkable feat. Fieh and Chips were the names of bride and bridegroom at a recent wedding In London. v s '