Evening Star Newspaper, August 24, 1926, Page 22

P e _—c AT FINANCIAL. 1 rigy T® INTEREST CENTERS INRAILROAD STOGK Steel Shares Lower, While Ca ers and Industrials’ Shares Ascend.” BY STUART P. WEST. Speaa’ Dispatch to The Star MEW YORK, August 24.—In to- dar's stock market steel shares were ‘cwe., while most of the rails and a in"er of the industrials were higher. This was the same sort of mixed mosement which has been going on for the last month. It was the sort 5 thing which denotes professional sp.carion going rapidly from one “us - another, as contrasted with »ublc ouying movement which wou.d eweep forward the entire 1 Interest Centers in Rails. Interest centered in the rails. The notlon was that with any crop sea., %01 .n the Northwest these roads mizat have a falr chance of resum in part at least, the dividends they used to carry in the y 1wfure 1920 and 1 At that time Ley were feeling the full effects of | tae great agricultural depression, which was especially marked in the Bpr.ng wheat States. .icrchern Pacific, Great Northern 2% rred and Chicago and Northwest v all used to pay 7 per cent. The 18, two are now paying 5 and the rd for the year, as it crossed ~0 on active trading. Great Northern preferced was steady.” Chicago and No.thwestern had a large rise pre- viously and was under the influence | { *m Wanlan. . of profit-taking. A chison crossed 130, but ran into a lot of stock and subsequently came down. The Seaboard Air Line issues were strong and active. So were St. Louis-San Francisco, Rock Island, Wabash common, and Wheeling and | Lake F common. Seaboard was a big reature, and was evidently moving for special reasons. Public Utilities Prominent. Public utility issues occupied a more prer inent place than they have for sone time. International Telephone aru Telegraph was a leader, unusual- v active as it climbed. Brooklyn Unlon Gas went up over 2 points. North American was higher. General Asphalt was heavily 1 the explanation being that favorable rumors did not eventuate and that there was a large speculative fol- lowing anxious to take profit General Motors ran up “then lost part of its gain. Du Pont fluctuated in sympathy. Mack Trucks was bid up, and Hudson Motor was slightly higher. Studebaker and Nash Wwere up a point on more active trad- sharply, . What seemed to be a sharp drive fgainst the market occurred midway through the afternoon. For space of 15 minutes or so there was an ap- pearance of weakness in the specula- tive industrigs, while the rails lost most of theif early gains. On this decline supporting orders came into play. United States Steel was around 150; Hudson Motor, which gave a bet- ter account of itself than it has for some time, was evidently in demand, as it neared 67; while the market for General Motors was well protected. These stocks all came back readily and as they were accepted leadens their recovery steadied the entire list. Money Unchanged. The money market continued has been for the last 10 day more with time loans quoted 4% to 5 per cent and with money renewing at 4. Railway traffic statements for July continued to indicate a larger volume of gross receipts and an unusually good sized percentage for net. Union reported an increase in gross of §1,316,000, while net was up $67 000 from a year ago. No such sults as this would have been possible during the period of excess main- | tenance appropriations in the vears! following the resumption of private control Very little happened in foreizn hanges. French francs were for the most part unchanged. Italian live and | Belgian francs, were slightly higher. But the changes were too small to be worthy of comment. All these curren- es are awaiting political develop- | ments, while in the case of France and Belgium they are also looking to tee what the effect will be of the econ- | omies in purch which have been put forward as patriotic measures. or call Stocks heavy: | ks helow firm on | | YORK (#). Ronas st rain liens July earnings. For wixed: Spanish pesct Cotton unfavorable erop vi wr easy: commission house liquidation. Coffee lower: trade sell ing. CHICAGO threshing w cash nd regula Wheat low ather. Corn Cattle firm Letter slow s i i SUGAR UNCHANGED. Futures Are Shade Lower—Sep- tember Contracts Heavily Sold. NEW YORK 28 (PL—‘ riaes unchanged the raw | rugar market eu toda, 4.24 for Cuban duty paid. N were resorv u huv sugar futures were a lowe: azain, heing featured by heavy Yiq udaiion of September contracts and tne exchangin of, t delivery | 1o li. positions. Offerings were | \ugust in at sales were shade | from | { col Carbon (9).. | Cont Mot (80c).. | Dodge pf (7). | Anitibl Pow (4). Abrahm&Straus Adv. Rumley.... 13% Ad Rumley pf(3) 57 Ahumada (v1).. 7% Alr Reductn(t6) 183 Ajax Rubber.... . 9% Allled Chem (4). 139% AllledCm pf (7). 121% Allix Chalm ().. 88% Amal Leather. .. Amerada (1.60) . { Am Azricul Chm | Am Aeri Chpf.. Am Rank N. 1.60 Am Tteet Suear.. Am Beet S pf(7) Am Rosch. Am Rrake S| Am Rr Bov E1(2} AmCan 2V, ... Am Car&Fdy (6) 100 Am Chafn A(2). 25% 0 Am Exnress (). . Am & Vor Pow. . Am Hide & L pf. Am Ho P (2.40). Am Ice ($10) Am Tnternatl. Am Ta Fr (1), Am Linseed. Am Po®Te fgl). 6A Am Radiator (4) 117 Am Ry Bxn (). 804 Am Qafetv R (1) 66 Am Shin& Com. 7' Am Sm & Ref (7] 146% Am @ TAys (1) A5 Am Stl Fy pfe7). 112% Am Snear (5)... 724 Am Eumatra 314 Am Tel & Tel(9) 144% Am Tahac R (fy. 119 Am Tohae nf (6) 111% Am Tvpe nf (7). 10! Awn Wa Wa c1.20 A Waol of (7). Am Zineof... . Anaconda (R) Armour of TII(A) Armonr of 111(B) Artlaom (2). Asan Dry 6( atehimon () At1 Rirm & Al " At1C Line(+913) 2275 At Guif & WT.. “Atlantic Refine.. Atlas Powdr (4). Paldwin T, (7 Ralto & OhlofF). 103% Ralto & Oh nf(4) 73% Bang & Ar (3).. 41% Rarnsdall A (7). 25% Barnsdall B (2). 23% Bayuk Clzar 471 Reech-Nut (+3). (0% Rethlehem Steel. 47% Reth St1 pf (7).. 103% Rloomingdale.. 82% Bloom:ingdle pf 7 106% Rotany A (4).... 24 Briggs Mfe (3).. RkIn-Mn Tr (4). BKIn Un G(*+11). Brunswick Ter.. Rurns Bro (10).. Burronghs (14). Butte&Super(2) Butterick. . Byer & Co. Calif Packg (). Calif Petrol(2).. Callahan Zine. .. Calumet& Ar(6). Calume&H(1%). Can Pacific (10). 166 Case Threshing. 15! Cent Leather.... 8 Cent Leather nf. 2% Century RibM.. 17 Cerre De P (4).. 70 Certain-Teed(4) 43% Chand.Cle pf(4). 30 Ches & Oh (+12). 152% Chi & East Tl pf 41% Chi Great West. 10% Chi Gr West nf.. ChiMN&StP.. ChiMi1&StPof 23% CMil &St Petfs 12% C MII&StP ptefs 23% Chi & Nwa (4) 8% ChiRI& Pac... 63% CRI&PDL(6). 90 CRI&PL (7). 102% Childs (32.40)... 66% Chils Cop (2%). Chrvsler Corp(2) 364 1087% 10% 61 lcCcR&StL(5). 275 66% . 114% Cluett Peab (5). Cluet Pea pf Coca-Cola (7)... 162 Colling & Atkmn. 50 Collins&Alk pf 7. 111 Col Fuel & Tron.. 44 Col Gas & El (5) 81% ol G & Epf (7) 1134% 63% ~om Cred (2). 2% Com Inv (3.60).. 65 Com SolvB..... 160 Congoleum-N... 25% Congress Cgr(3) 43 Consol Clgar.... T1% Consol Distribut 2% Consol Gas (5).. 107% Consol Textlle. 214 Cont Can (16)... 79% Cont Insur (6).. 131 11% 45% 4 3% 7% Corn Prod(t2%) Crucible St1 (5). Cuba Cane Su pf. CubaCo (4)..... 8 Cuba Co rights.. 10% Cuban-Am S (1) 21% Cuyamel Fr (4). 46% Davison Chem.. 37 Del & Hud (9).. 172 Del L & Wn (17) 143% DRG Wstpf... 45% Detroit Ed (8).. Devoe&Ra(2.40) 2o% ze Bros ClA 2 Dodge . Pome Mines (2). 11 Douglas Pec (2). 354 Dupont (14).... 308% Fastman (18)... 117 Eaton Axle (2).. 2T% #isenlohr & Bro. 18 Electric Boat... 7% Elec Power & Lt 18% Slec Refrig(f2). 63% .ec Sto Bat(16) 92% ¥.nd-John (5)... 66% Engnrs PS pf(7) 964 3518 309 117 27% 13% 214 106! 2% 24 : THE EVENING STAR, WASHINGTON, Grt Watn 8u Green Canan Guantanamo. Gu M & N pf (6) Gulf States S (5) Hartman (B)... Hayes Wh(13%) Hays Wpf(7%). Hoe& CoA..... Homestake (17). Howe Sound (3) HudsonMan(23: Hudson Mo(3% ) Hupp Mot (1)... [llinots Cen (7). Indep O11 (1)... Indian Motor (2) Tngersoll R (14) Inland St (213). Inspiration (2).. Interurb Rap Tr. Intconti Rub(1). Internat Agri. Int Bus Ma (3) Int Gement (4).. Int Com Eng (2) Int Harvstr(6). . TntMteh pf(3.20) Tnt Nickel (2). .. Inter Nick pf (6) Int Paper (2)... Int Paper pf (7). Int Tel & Tel (6) Int T&Teleg rts. Jewel Tea. .. Jordon Mot (3).. Kan City South. Kayser pf (8). Kelly-Spring . Kennecott (4). Kevstone T & R. Kresge 88(1.20) Kresge DS pf(8) Lago Of1 & Tran. Lambert (3%).. T.es Tire & Rub. Leh&iMink stf(3) T.ife Sav (1.60).. Ligzett & M (t4) Lima Loco (4) Loew's Inc (2).. Lortllard(2).... Loutstana Oll. .. LouisGasA (1.75) Lou&Nash(t6%) 36 106 2% Mack Trucks (6) 1 Mackay (1) . Mackay pf (4) Macy HR & Co.. Macy pf (7)..... Magma Cop (3). Vallison & Co. .. Man I Sup (5). Man El m g ( Man Shirt (13%). Market St prior. Maracaibo Ofl. .. Marland O11 (4). Marlin Rock (2). Mathieson (4).. May Dept St (5). Maytag Co (2).. Mexican Seabd. . Miami Cop (1) A1§d-Continent Middle States. Mie States Oll e Midland pf(+10). Miller R ctfs(2). Min St P & SSM. Mis Kan & Tex. . Mo K & T pf (8). Missour! Pacifle. Missourt Pac pf. Montana Pow (5) Viontzom Ward. Voon Mot (8). Mors & Esx(314) Mo Plcture(1%) Mothr Lode(75¢) Motor Met(3.60) Murray Body... Nash Mot (13).. Nat Aeme (sta). Nat Biscult t4% Nat Cash Reg(3) Vat Cloak pf (7) t Datry (3). Nat Dpt Stores. Nat Distillers. Nat Enamel & S. Nat Lead (8)... Nat Lead of (7). Nat Pw&Lt(80c) Nat Supply (4).. Nat Tea (4). Nevada Cop (1). NY Afr Brake(2) N Y Canners C2. NY Cannrs pf (6) NY Central (7). NV ChI&StL(11) NY & Lack (7).. NV NH & Hart.. NY On & West NY Rys part cfs. Norfolk South. . Norfk & Wn (+8) North A (B3.40). North Pac (5). Norwalk (80c). . Ol Well Sup (2) Omnihus Onyx Hos (3.20) Onpenheim (3).. Orpheum Cir(2) Otis Flevator (6} Otis Steel | OwensRot (t4). | Pas 011 Stubs,. .. Packard (+ Paige Mot(1.20). Pan-Am R (6). Pan.AmWnB(2). Panhandla. ... Park & Tilford Pathe Ex (e3)... Penn C & Coke. Pennsv R R (3). Penn-Seab Steal. Peonles Gas (8). Pere Mara (18). Philn & RC&T 118% 36% Thila&R C&T cfs Prilip Morris. .. Phillips Pet (3). Pierce-ArTow. . . { Pierce-Ar pf (8) Piarce Ofl....... | Pierce Petrolm Pitts Ceal. ... r | Porto Rico Tob.. | Postum (5). ... ! Prod & Refiners. Producrs & R pf Pub Ser N J (5). Pub S NI pf (1. Pullman Co (8). | Punta Alex Sug. Pure Of (). | Radin Corn of A. NEW YORK STOCK EXCHANGE Received by Private Wire Direct te The Star .Office . Low. Close. 97% 97% | were dealt in ¢ 17% Alh 39% 12 [ 81 4% | 70 72'% 26% 204 21% 160 117% 20% 78% 8 34% 15% 40 61 - 30 118! 9 1% 36% 15% 667 15% 21 54 10% 54% 14% & 125 102 0% 41% 23% a7 20% 120% % 2% TRADING 5 QUIETER - NBOND MARKET No Signs Seen of Revival of Investment Interest—Little Weakness Is Noted. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, August 24.—Bond | trading today was. if anything, some- | what quieter than yesterday. This | meant a dull market, judged by the standards of two months ago. Thege were no signs of a revival of invest- ment interest. - On the other hand, | there was certainly no weakness of any sort. Considerable interest was taken in some of the foreign bonds. Saxon Public Works 7s had closed Monday at 98%. They opened at 98% and ran up well across 99 with the course of the day. This movement was a companied hy good-sized transactions. Poland 8s Are Feature. Poland $s were another feature, not | that they changed so much in price, but they were actively dealt in over a range of a point most of the time. Kingdom of Italy 7s were also fairly active around 89% to 89%. Hungarian 71,8 were dealt in at 993 and 99%. Jupanese ssues were down a fraction, While Swiss E3s were slightly higher. | French government 8s: cr ed 103 after closing on Monday at 1027%. The 7s were also slightly higher Not much change oceurred South American issues. Bolivia rourl 1013 and 1017%. Rio de Janlero 8s of 1946 were off | a fraction. Brazil 7s changed hands The in Brazil $s Germare bonds were not as active. The Rhinelbe 7s were slightly lower. German General Electric 6138 were als> down, but not to any important | extent. | Chicago Rallways s were one of | the features in point of activity, opening lower, then rallving, then holding around yesterday's final. A fair amount of business was done again in Andes Copper 7s and in Anaconda issues, but without any noticeable change in price. Intel national Paper 6s sold at par. War- ner Sugar 7s did somewhat better. At least the recent selling was not pursued. International Telegraph and Telephone 53zs, convertible into stock at the rate of $125 bonds for $100 par value of stock, naturally went up with the latter. Citles Serv- ice Power and Light 6s were bought | at advancing prices. S. A. L. Adjustments Active. In the railroad section Seaboard Air Line adjustments were active and higher and the Consolidated 6s the same. Delaware and Hudson convertible 5s fluctuated between 115% and 115 most of the time. Chesapeake and Ohio convertible 5s went up with the stock. The banking group, headed by Dominick & Dominick, offering the | $5,000,000 Compania Cubana 3-year 4 [\6 per cent guaranteed gold notes, | announced that they have all been | sold. Other nmew offerings included $3,000,000 additional fssue of Budd Realty Corporation first and refund- | ing 6%, due 1941, paid at 99 and ac- | erued ‘interest to yvield over 6.10 per cent, by a syndicate headed by Lee, Higginson & Co., and $1,500,000 | Amalgamated Phosphate Co. first “closed” mortgage sinking fund 6s at 98 and interest to yield 6.27 per cent, offered by the Natlonal City Co. | MAY CHANGE POLICY. | BOSTON, August 24 (Special).—The Waldorf System, Inc., operating a chain of 120 restaurants in New Eng- land and the Middle West, may L change its policy as a result of re- [ cent sur Figures complled so far indicate the neighborhood restau- rant is more profitable than one in | the bisiness section. | S1d G & Bl p24) - 674 Sta Ol Cal (2).. 61% |StaoNJT (1).. 43% [ Sta 0il NJ pf(7). 116% | Std Plate Glass. 6 | Sterling Pro (5). i | Stewart War (8) | Studebaker (8). Submarine Boat. | Supertor Oll.... Sweets of Amer. | Telautogra(60c) | Tenn Copper (1) | Texas Co (3).... | Tex Guirs (10). | Tex & Paciflo. ... Tex & PacC& O he Fair (2.40). | Thompson(3.60) | Third Avenue. . | Tide Water(1%) Timken (5).... Tobac Prod (7). ‘Tob Prod A (7). Trunscont Ofl. .. Un Bag & Paper. Un Carbide (5).. | unot @.... | Un Pacific 110) Un Pacific pt(4). | Uta Alloy (2). | Utd Cigar S(e2). Utd Drug (8)... UtdDrg 15t(3%) | United Frute (4 | uscriparan ] USCIPDf (1. U S Distributing U S Ind Alcohol. U S Steel (7)-.. U S Steel of (7). | Universal Pipe.. | Univ Pipe pf (7) Utl P& Lt A (e2) Va Iron Coal & C Vir-Caro Chem. . | va-car Ch p1(7) Vivadou (3). . D. C., [ UNITED STATES. (Sales_are in $1.000.) Sales. High. Low. 1014 1014 1014 101 30 101 28 101 28 100 23 100 21 100 23 w16 1013 1027 1024 1024 11019 1019 1019~ 108 20 103 3 103 20 107 16 107 11 107 16 FOREIGN. Sales. High. Low. Close. 9 Lib3%s.... 8 Lib 1st 4%s 27 Lib2da4%s. 123 Tib3d 4%s. 35 Lib 4th 4%s 250 USSYs.... US 48 1944, 3 UsSiyss2. 3 Argentine s Ju §9. 10 Argentine 6s Oct 69 22 Argentine 6s A. 22 Argentine i'anada 5s 1931, Cana¢a 6s 1962. Canadu B7%s 1929 Chile 73 1943.... hile 8= 1941. Danish Munic 8s A. Denmark 6s....... DET5%s Mch 53, D E In s Nov 63 Dutch East I 6s47. Dutch Fast I 6s 62, Finiand s f 63 45. Finland 7s. .. Framerican 7 French 7s. French T%s French 8s. . German 7s. .. IS - NN N RN ONO RO~ ENION PRINERN R ORA LR R® CANNRL-ERD~ B0 Japanese 43 Japanese 6% s Jergens U M 6s 47. @ Mexico 45 04 asntd. Mexico 4s 10 asntd Mexico 5s assented Montevidio 7s. . Netherlands 6s 54.. Nord 8%s. . Norway 5%s. Norway 6s 1943 Norway 6s 1944 wa - Paris Orleans 7i Peru 7%s. Poland 8s 40 Poland $8s.... Porto Alegre 8s. Prague 7%s Queensland 7s Rhinelbe 7s war Rio de Jan ¥s 194 Rio de Jan 88 47. Rio Gr Do Sul Sao Paulo 8s 1936 Sao Paulo 1950, Saxon (PW) 7s.. Seine 7s 42. Serbs Crot Slo 8: Sweden 5%s ct. Sweden 6s. . Swiss 5%s 19 Toho Elec Power 7s L 1 Ut Kingm 5%s 37. 28 N Ajax Rubber 8s.... Am Agri Chem 7%e Am Smit & R 1st bs AmSmit& Rés.... Am Sugar ref 6s. AmT&Tecl trds.. Am T & 7' ¢l tr bs, Am Water Wks bs Am Writing Pap 68 Anaconda 1st Anaconda cv db 7s. Andes Cop 7s rets. . Armour&Co 4%srf Armour Del 5%s. .. Assoclated Oil 6s Atlantic Kefin 5s... Barnsdall 6s otfs. . Bell Tel 'a 68 B. Beth Steel pm b Beth Steei rf 58 Beth Steel 5%38 6 Beth Steel 6s. . Brier H St 15t 5 Bklyn Ed gen 6s. Bklyn Union 5% Bush T Bldg 53 60. Callf Pete 6%s. Cen Leath 6s 45 cfs Chile Copper 6s 32. Commonwith P 6s. Con Coal Md 1st bs. Con Gas N Y 6%8.. Consumers Pow 5s. Cuba Cane cv 8s. Cuban Am Sug 8s.. Rery (DG) 7s. odge W 163, ... Donner Steel 7s. ... Dugquesne Light Est Cuba Sug 7% Empire G & F T%s. Fisk Rubber 8 Goodrich 6% Good year 8s 1931.. Goodyear 8s 1941 Hershey 518, Hoe & Co 6%s.. ... Humble O & R5%8 Titinois Bell 18t §: lilinols Steel 4% Indiana Steel 5 Int Mer Marine 6 6847 900 ND DD R W WD W m 5 © . =n Buexns it T&T5% - Kan CP&L 68 A 52. Kan G & Bl 63 52... Lackawa 855 60... Laclede G 6%853.. Liggett & Myers 78 Loulsv G & E b8 52 Manati Sugar sf 7% M1d-Con 6%s 40 Close. 98% 88% 8% 984 99% 89% 100% 98Y% % 964 100% 86% .91% 93% 107% 107% 101% 94% 104% 101% 105% 1015 - 102 113% 109% 102% 102 103% 104% 118% 105% MISCELLANEOUS. 104 104% 100% 107% 104 977% TUESDAY, AUGUST 24, 1926. RK i ONDS STOCK EXCHANGE l ON NEW YO! Recelved by RAILROAD. Sales. High. Low. Atchison gen 4 Atlantic CL 1st Bkiyn Manhat 6s. . Buff R & Pitt 4%s. Canada South 5s. a. Canad North 78 Canad Pac deb 4 Central Pacific 4 Cent Pac 1st Ss 90. Ches & O cv 4%s. Ches & cv bs. . CB& Q-1 dlv 4 Chi & E I gn bs. Chl Great West CM & Puget S 4s.. CM&StP4s26... CM&StP 426 cfr CM&StPdeb 4s cfs. CM&StPev4ks. CM&SPev4 i s32cfs C M & St Prf4%s CM&StP r 4%s cf14 36 CM&SPcvbscfs14 4 Chi & NW 6%s. Chi Union Sta 6 Chi & W Ind cn C&WIbY%s62.... CCC&StLrfésA. Cleve Term 5%s. Cuba RR6s.. Del & Hud 1st rr s 10 Del & Hud cv 68 35.119 Del & Hud 6%s. Den & Rio G cn 4s. Det United 4%s Erle gen Erle conv 45 Erie conv 48 B Erle conv4sD.. Fla EC 74 new. Gt Nor 435 76 D... Gr North gen 7s. ... Havana ERL&P 50. T1l Central ref 4s. 111 Cen 45 63. . 111-C-C StL&NO 5 Int Rap Tran bs. Int Rap Tr 6s stpd. Int Rap Tran 7s... Int & G Nor 1st 6s. Int & G Nor ad 6: Int RysCA5s7 Towa Cent rf 4s. Kan City S 6s. Kan City Term Lake Shore 4s 28 Lake Shore 4s 31. Lehigh Val en 4s, L & N 4%s 2003 Man Ry 1st 90 Market St 7s 4 M1l El Ry & L 6s. M St P & SSMcn 4s MStP&SSM5s38gtd MK&T4sB. 1 M K & T adj 5s. MK&TprinbsA. Mo Pacific gen 4s.. Mo Pac 68 1965.... 3 Mo Fac 6s 49 D. Nassau E Ry 4s 67. NOTex&M6sB N Y Cent deb 6s... N Y Cent LS cl 3%s NYCh&SL 514sA. NYChi&StL 5%8B. New Havd4sb67... New Havancd @s. NY Ont W 1st 4s, N Y Rys 6s 65.. N Y Rys 63 A 65 N Y State Ry 4%s. N Y W & Bos 4%s.. Nor & S gen 5s 64 Northern Pac 4s Northern Pac r1 6: Ore Short L rfs ¢s. Pennsyl s 64. . Pennsyl 6%s. Pennsyl gold 7s. Pere Mar 1st 4s 56. PCC & St L 55 B 76. Port RL & P 6s 42. Por RL & P 63 47. Reading gen 4%s. . Rio G Westcl4s. .. St L IM&S R&G 4s. StL&SFpl4sA.. StL&SF prinbs. StL&SFb5%sD StL&SFadj StL & SFuc 6s. StL&SFplésC StLS W 1st4s. St LS W con 4s 32, St P & KCShL 4%. StP UnDepbs.... Seaboard A L 4s sta Seab A L con 6s.. Seab AllFla6s.... Sou Pac 48 29. Sou Paeific clt 4s. Sou Pacine rer 4s. Southern Ry gen 4s Sou Ry con 55 94... Sou Ry 68 566. Southern Ry 6%s. Term Asso S L 4s.. Tol St L & W ds Tol Tr L&P 5%s 30 Union Pac 1st 4s... Union Pac 1st rf 4s Union Pac 4s 27 Virginia Ry 1st 6 Wilkes & E 1st 5s... Private Wire Direct to The Star Office. o1 2% 8% 0% 96% 98% 102% 102% 100% 2% 97% 104% 59 99% 105% 8% 884% $57% 10 88 1 2% 2% LEAD PRODUCTION. NEW YORK, August 24 (P) duction of lead in July by countries which contributed 85 per cent of the Close. % 2% T8% #0% 6% 98% 102% 102% 107% 1 96% 1% 108% 116% 81% 9CH 100% 98% 151% 60 92 106% 2% 7% 69% 54% FINANCIAL. WHEAT VALUES TEND TO LOWER LEVELS Better Weather Conditions for Ca- nadian Harvest and Yield News Depressing. , By the Associated Press. CHIGAGO, August 24.—Wheat prices taok an early downward course today, influenced by better weather conditions for the Canadian harvest. Besides, crop. repérts from Canadian railroad sources tended to confirm re- cent optimistic forecasts of a liberal vield. Opening unchanged to 3% off, wheat underwent a moderate general setback. *Corn and oats were easier, corn starting at % to % decline, and | subsequently sagging a little more. Provisions showed strength. Higher estimates of wheat produc- tions in Canada appeared to be again of the wheat market ‘today, Jargely off- setting unfavorable Eurdpean crop ad- vices and a falling off i nthe amount of wheat on ocean passage. Notice was being taken, -too, that for the fourth consecutive week the United States’ visible supply showed a large increase. With no indications of immediate liberal export business, and with the acting as a handicap to the buying side } STANDARD BANKING FORMS DISCUSSED District Body to Seriously Consider Matter at Meet- ing Tomorrow. The question of simplifying ar standardizing bank forms in the trict of Columbia will be seriously con sidered tomorrow at the regular Wed nesday luncheon meeting of repre. sentatives of the District of Columbia Bankers’ Association, which will has before it a report from its special committee on the subject. The report, which was rendered by the committee on standardized bank ing forms, at recent convention of the association at Hot Springs, 8 aroused much interest amoun ers of the city and extended . sion and consideration of the questic is expected to morrow. No final ac- tion is probable at the meeting tome row, according to indications today Wide diversity in the shape,. size and style of checks, bank d t tificates of deposit, cashiers’ che movement of the Canadian wheat crop close at hand, considerable attention was given to the fact that the price level of future deliveries of Canadian wheat is below the current quotations for United States wheat. Friends of % | higher prices, however, contended that the world situation in wheat for the season looks very bullish after the market had felt the full effect of the Spring crop movement. < V:'HIE.:T— h. l!@w. l4s re g S ¢ cl .33'1: 38% 44 91k 104% 96% 81% 1% 87% 101 1 100% 2% 97% 104% 69 99% 105% 78% 834 957 96% 102% 107% | fully steady; top vearlings 3 : 78 Br 8% STEEL COMBINE SHARES GOBBLED UP IN BERLIN First Quotation of 130 in Bourse Rises to 147—Orders More Than Double Capitalization. By the Associated Press. BERLIN, August 24.—Shares of the United Steel Works of Germapy, comprising the Thyssen, Phoenix, Rheinstal and Deutsch Luxemberg Steel Works, with a capital of 800.- 000,000 marks, were introduced in the Berlin Bourse yesterday. The Bourse eagerly awaited announcement of the first quotation, which was 130. This rose later in the open market to 147. There was a heavy demand, as for some days past Berlin's big banks had received thousands of orders amounting o more than double the total capital of the combine. It is reported that shares to the amount of 30,000,000 marks were of- fered by the brokers in charge, but they were at a loss, however, to dis- tribute them among the applicants. Sl TAKES HIGH A. T. & T. POST C. P. Cqoper Becomes Vice Presi- dent of Telephone Company. CLEVELAND, Ohlo, August —C. P. Cooper today resigned as president of the Ohio Bell Telephone Co. to become a vice president of the American Telephone and Telegraph Co. Edwin F. Carter of St. Mo., a vice president of the. South: western Bell Telephone Co., was elected by the board of directors at its meeting here today to succeed him. Mr. Cooper succeeds Edgar S. Bloom, who has been elected presi- dent of the Western Electric Co. The board declared the regular quarterly dividend of $1.75 a share of the pre- ferred stock, payable September 1 to stockholders’ of record August 20. CHICAGO LIVE STOCK MARKET CHICAGO, August 24 (United_States Department of Agriculture).—Hogs— Recelpts, 20,000 head; uneven; finished hogs, averaging 250 pounds down- ward, active: strong to 10 higher; others weak: heavy kind in_ narrow demand: packing sows generally 10 to 15 lower: big packers inactive; top, 13.90; bulk, desirable 210 pounds down, 1 most 0 to 300 pound 12.00213.00; bulk packing sows, early, 10.15a10.f few lightweights up to 10.85; heavies, downward to and below; pigs about stead: k desirable strong weights, 12 5: few upward to 13.50: heavyweight hogs, 11.50a13.00; medium, 12.65a13 light, 12.90a light light, 12.75a13.85; packing 9.75a10.85; slaughter pigs, 12.25 tle—Receipts, 11,000 head; fed and yearlings strong to 25 higher; heavies active at advance; grassers and stockers and feeders 10.85; some 1,450-pound _bullocks, 10.25; Western rangers to killers, mostly 7.50 down- ward; she stock mostly steady; Kinds in cutter flesh active; firm; bulls fully 0 to 100 higher; largely, outsiders, up- ward to 16.00 in odd lots. Sheep—Receipts, 14,000 head; slow; fat lambs, mostly 25 higher; good Western lambs, 14.75a14.85; choice kind held above 15.00; top natives to city butchers, 15.00; early bulk, 14.50 al4.75; culls, strong to 25 higher; bulk, early sales, 9.50a10.00; sheep strong: fat ewes. mostly 5.50a6.50; early sales of 55-pound feeding lambs, 14.00; indlcations strong market. BUYé. THEATEB. CHAIN. NEW YORK, August 24 (®).—Uni- versal Chain Theaters Corporation has acquired the chain of 11 motion pic- ture theaters operated in Milwaukee by the Stiliman Theaters, Inc. This 24 the 234 movie deposit slips, customers’ checks of all kinds, and other forms exists in Wash- ington, according to the report mitted by E. J. McQuade, vice dent of the Liberty National A chairman of the committee, and much benefit would be derived from simpli catfon and standardization of these some form. Have Specimen Forms. Spectmen forms have been suls ted by the committee for consider tion. Other members of the commit tee making the report were: J. D). Howard, treasurer of the Seventh Street Savings Bank; C. F. Jacoheen, cashier of the National Metropolitan Bank; L. P. McLachlen, president of the McLachleh Banking Corporation Frank J. Stryker, president of unf- bia National Bank, and E. E. Swan, assistant treasurer of American Se curity ahd Trust. Washington was deeply_ Interested today in the action of the board of directors of the North American Co. yesterday in declaring the regular quarterly dividends of 13 per cent on the preferred stock and 213 per cent on the common stock of tha company. _The North American Co. owns the Washington Rapid Transit Co., and is understood to hold a large interest in both the Washington Rail- way and Electric Co.. and the Capi- tal Traction Co. Payable October 1. The dividends are payable October ., 1926, to stockholders of record on September 7, 1926. The dividend will be paid in common stock at par, or at the rate of one-fortieth of one share for each share held of record at the close of business on September 7, 1926. The company will arrange, it was also announced, upon request of any stockholder, for either the sale of divi dend stock, the purchase of fractional scrip to complete a full share or the sale of fractional scrip. Unless the company hears from common stock holders to the contrary by September 11, certificates for shares of common stock or scrip representing fraetions of shares of common stock to which they will be entitled in payment of the dividend will be mailed. The inclusion in the consolid balance sheet since June 3¢, 1925 the property and plant and outstand- ing funded debt and preferred stocks of the important utility pronertic ; quired through the issuance of stoc of the company in the last. months of 1925 is chiefly r onsible for the in- crease in those items. Substantial ex- penditures continue to be made for itions and extensions to the piants 4nd systems of the other subsidiavic with resulting large increases in the ross and net earnings, Additional investments, aggregating about $11,000,000, and excess of in- crease in total property and plant ov the aggregate of the increase in t funded debt ard preferred stoeks of subsidiaries and preferred and com mon stocks of the North Am Co. are largely retlected reserves and surplus, w capital surplus, larger on June 30, 1926, and amount to $130,467,969 on that date. Total assets, as shown in the con- solidated balanc heet of the North American Co. for June 30 of year, were $647,293,035, against $387,- 654,269 the year before. New corporate securities offered in this country in the first half of 1926 increased 14 per cent er the amount for the first half of the '® previous year, while the Government securities declined 4 per gent, accord- ing to the Index, published hy-thps, New York Trust Co T Personal Mention. Ernest Gerstenbery, assistant tr urer of the Merchants Bank & Co., and manager of the b Twentieth and Penn: has gome on vacation Ghiselli, vice president of the com pany, is in charge during his absenee. B. 0. Harper, of Crane, Parris & (o returned to his desk today from cation. Mrs. Sara €. Bean, formerly ings teller at the Federal-American National Bank, has joined her hus band at Tampico, M 0, where he is connected with an oil company P oy WARD C0. EXPANDING. NEW YORK, August 24 (P).- (a pacity of the Ward Baking (orpora- tion will be increased by approsi mately 11,500,000 pounds of b i and 10,750,000 pounds of cake nually on completion of new constri tion and extensions to exi The cost exceeds $5,000,000, which has been provided from earnings. Bl e Sy ALCOHOL UP TWO CENTS. NEW_YORK, August 24 (#).—Na tlonal- Distillers’ Products Corpora tlon_has advanced prices of all grades of alcohol 2 cents a gallon, meeting the increase by United States Indus- trial Aleohol. quitable pf (7) 129% srie R R 82% Erie 1st of Erie & Pitt Exchange (1%). Fairbanks Co. Famous Pl (J2). Famous nf (8).. " FedLigkt(*1.40) SEW YORK PRODUCE. O e s NP & YORK, August 24 (Special).— | FiskR 1st pfs(7 80 Soetly fancy lettuce sold well at | Fletschmn(12%) 504 wghor prices. Crates of 2 dozen | Foundation (8). 954 heads peddled out at §2 to $2.30 for | Fox Film A (4). 69 tne best, occasionally as high as $3| Freeport-Texas. ' 27% on fancy. and off grade ranged from | qaraner Motor.. 6% ave to $1.50. Romaine brought from ! Gen am Tnk (3) 44% 2ic to $1.25, chiefly 0 to Gen Asphalt. ... The d for cauliffower Was|Gen Asph pf (5). 133 quite Catskill Mountain, | Gen Cigars (4).. 50 crawes o 12 and 16 heads, wholesaled | Gen Elec (112).. 92 frem $4 to $5 for the finest and $2 | Gen Elec sp(60e) 11% to $3.20 for the fair to ordinary qual-| Gen GERE A E1% 5l fty. C-lora¢s offerings were limited ! Gen Gaspf B (7) 97% wund 1a'es were made at $2.50 to $2.75 | Gen Gas (B).... 453 per =1 te of 12 to 18 heads Gen Motors (116) 212 huden Valley Clapp's Geu Mot pf (7).. 119% 1ears vere in plentiful supply. Most | Gen Outdr A (4) 52% transa~tions for No. 1 fruit were | Gen Outdr Ad(2) 3 rande a $..50 to $1.73 per bushel bas- | Gen Ry Siz t4%. 9, ¥et, vor . ravely higher. Barrels sold | Gimbel Bro§ 5 at $5 to 3 | Giiaden «2). Receup! apples were moderate. | iold Dust Gieade A 2la.inch Duchess in barrels | Goodrich Ru « jovoed out from $4 to S Bushel | Goodyear pf (7) backets realized from § 2 gives corporation ahsoin.d by houses with trade and houses throughout the country. i connection and prices at mid- vers 1 point net lower . Oy moderate inquiry port=d refined & wers hanged at flne . oulated. SALES OVERSEAS GAIN. NEW YORK, - August 24 (@) — Sales of General Motors cars to over- seas dealers in the first half of 1926 increased 52 per cent over the sama period of 1925, with a total of 63.797 vehicles. ports contributed about 10 per cent of total business and should approximate $100,000.000, wholesale value, for the year 1 | statement said.” Wholesale val General Motors exports last year w # | $77,109.696, against $50,929,322 in 1924 {and $39,193,869 in 1923. nap Cop (25¢) | Resding (4). Reading ru . Rendine 2d (2) .. Reid Ice Cm (3). Reminzton Ty | Remingtn 2d (8) Replogle Steel. . | Rep Ir & St1 (4). Rep 1 &S pf (7). Reynolds Spnzs. | Rey Tobac B(5). 1obt Rels & Co.. | Royal D (a3.078) a1 Phila Corf 6s A. Rutlana pf 5 . Phila & RAC&15s satety Cable (4) Plerce-Arrow St Jaseph L(13). | StL & SanFr (T) St L Southwest. Savage Arms (4) Schulte (§8). ... Seaboard Afr L. Seabd Alr L pf. . Seagrave(el.20). Sears-Rn (2%). Shell Un (1.40).. Shubert Theatre Simmons(12.35). Simms Pet (1).. Sinclair Ol Skelly O1142). Sinss Shefl §).. South Port < 16) 3ou Cal Edison. . | ou Daires Ac4) <ou Dairtes 3. <outh Pac (3)... Southern R (7) outh Ry pf (5) nicer Mfg. ... 1d Gas & world’s output in 1925, is calculated by the American Bureau of Metal Statistics at 124,350 tons of 2,000 pounds each, the report including production of Germany and Polish Si- lesia. The output for the seven months this year was 836,367 tons, a | Rate—Maturity monthly average 119,481 tons. The|} 3 monthly average for the calendar year 1925 was 106,005 tons, representing |? countries which reported about 75 per cent of the world's production. DEALERS HOLD WOOL. BOSTON, August 24 (Speciall.— Conditions in fleeces indicated today that an active movement would result in the wool market if dealers would sell at prices the manufacturers are S 'Inen lppar::“y Ger Gt (w In) Bs 1014-18. 1100.00 1150.00 would purchase freely just low | Ger w In 3 Y . Going Dprites, Three-eighths blood | Hambure 43 1010..... = 85.00 05.00 combing has been selling at 44 cents | g a pound, and it is reported that of- fers of 43 cents have been made freg- B ly. but some holders are firm for 45 cents. Some firms say their entire 94 | remaining stocks of three-eighths 1074 | blood and quarter blood combing 105% | could be sold at 43 cents. 9% —_— FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Closing.) Approx. ked. yield. rve- Prices 80 for warren Bros (4) Weber (4).. Wells-Fargo West Marylaad. West Md 2d pf West Pacific. ... West Unton (8). West A Br(”'a)’) A =] 106 101 104% 102 109 103% 104% 106% 89 110 104 92% 9914 101 92 107% 102 105% o Q- READJUSTMENT ADOPTED. NEW YORK, August 24 (#).—Hold- ers of certificates of deposit repre-: senting 'first mortgage convertible © per cent serial gold bonds of the Mecklenburg Mills Co. have been noti- fied that a plan of readjustment has been adopted by the committee headed by Albert J. Beringer. The Fidel ity Trust Co. of New York is deposi- tary for bonds and all coupons m turing on and after October 1, 1923. £33 & Whi White Mot (4).. White SM pf(4).- Wickwire ctfs. . willys-Overland witlys 0d pf(7). 36% \wiison & Co new 39% | wilson A (new). Wilson pf new. . WoolwthFW (15] worthn Pump. .. Wright Aero (1) Yale&Town(15). Yel Tr& C (72¢). youngstown (4) Di re 4 Punta Alegre 7 Remingtn Arm Saks & Co sf 78 Sinclair Oil Sinclatr Oil Sinclair O11 7 Sin Crude Ofl Sin Pipe Line b: So Por Rico Sug 78 Southwest Bell §s. ‘Tenn Elec Pow 6s.. U S RublstrtSs.. U S Rub 7%s. U SSteelst Utah Fow & I&:-. Vertientes Sug ‘Warner Sug 7 West Elec 6s. . Westn Union 6% Westinghouse 7s. . WillysiOv 6%s 33. Wilson & Co 1st 6s. | Youngstn8& T 6s. GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) Favorite FLOUR IS STEADY. siven o tne avose table can ents b . Wi terly ‘or hall vearly deelarations ess Otiierwite Toted. exira o special divi: ot mcluded. stock. of 5 ases 29 - BEEREE T o n S Siom1e D Badische Anilin A'E G (Ger Gy Elec). . . Commerz and Privat Bank. Disconto Gellschaft . RUBBER DECLINES. NEW YORK, August 24 (Special).— Crude rubber, smokéd ribbed sheets, g:l‘;""';: BB::: declined % cent at today’s noon quo-|parmstaedter Bank. tation of 40 cents. This compares with | Merenr Bank _Vienna 41 cents a month ago and 82 cents a | Heyden Chemicgl .. year ago. fioriner “iandels 2 Western, 1.08% f.o.b. nd 1.07% cif. export. malting, 80a8213 c.f. Lard steadier; Middle 15.45. Wheat futures g domestic, December, 1.43%. Other articles unchanged. 22822228233332228 521 B4 153, 240 Gotham new 2 | Gothm S H (23) Gould Cou (2).. Granby Consol. . Grt North pt (5) 784 {86t Noi Ore (1%) 22 23! 32 10.% PRICE OF SILVER. % 984 v, 104% 104 NEW YORX. August 24 (P —Bar =ilver, 62%; Mexican dollars, i3, %4