Evening Star Newspaper, August 28, 1926, Page 26

26 ADVANCE BROADER N STOCK NARKET .o Oil Shares Begin to Exhibit Signs of Life—U. S. Steel Pushes Forward. BY STUART P. WEST. Special Dispatch to The Star NEW YORK, August 28.—Today's stock market, although it lasted only two hours, was broader than any time during the week. The advance took in _more different issues. Ol shares, much to the satisfaction of the big outside following, had be- gun to show some signs of life in the Jate trading yesterday. Buying of these stocks kept on, but without any- thing at all spectacular. General Asphalt jumped over 2 points and made a new high. Union Oil of Cali- fornia was up a point or so and Texas Co. a half point. Advances in Pan American B, Marland and Phillips Petroleum were comparatively small. United States Steel had left off the day Before at 1493%. It suddenly be- xan to push forward, first crossing 150, then, with a block of 10 shares at 151, It passed this level Youngstown Sheet and Tube strong and Crucible, in which nothing had been done for two days, had a sharp jump. Again the feature in the raflway list was Atchison, in which the bril- liant showing in the July traffic fig- ures had rted 211 sorts of predic- tions regarding w! the stock would eventually sell. At 153 the stock was up over two points. The advance in the raflway section was limited mostly to the dividend payers—Atlantic Coast Line, Baltimore and Ohio (which got up over a point), Canadian Pacific, New York Central, Chesapeake and Ohlo and Union Pacific. Reynolds Tobneco B, which had been | one of the leadergon vesterday, had further remarkable a stock dividend. Consolidated Cigar crossed 76 for the first time. The campaign in United States Rubber, which has been attracting a lot of attention, was carried further. Cen- tral Leather stocks were more active and higher. United States Industrial Alcohol was hought again on the reported risinz of alcohol prices. Continental Baking stock made new high. Southern Dairies A and were active higher. Brunswi Balke o nunue\l its advance, and so m-l Inte; al Telephone and Telegraph, \\ln(h sol at a new top. ).~ Steel ¥ NEW YORK, United States ship. DBonds in demand. Foreign French francs make . Cotton lower; favorable; weather st. Sugar and coffee holiday. WALL STREET BRIEFS August 28 (P).—Ax gregate wting income of the first 40 class oads to repu (,«rmny\ for July dmuunlcd to $76,- 620,046 for W YOR! nec ope year. (iross revenucs per cent, with a total Gratifying increa. shipments wood and hardwood mills of .rlu (‘nun try in the v reported b \lx\nuhuluxc the Natior Lumber Association. in son with the k before. nllexl orders of 231 Southern Pine West Coast milis declined to 66 778 feet from 678,875,124 f{eel the week befor IR n & Co., Inc, and subsidiaries report net loss of $435,407 for the first_half of 1926. The New England Public Service Co. has declared an initial dividend of cents on the common stock for the gix months ended August 31, payable September 15 to holders of record September 1. The regular quarterly of $1.75 on the preferred also was authorized A special of the Celotex Co September 4 to vote on i in preferred stock from 60,000 to 000 shares, $100 r, and common stock from 60,000 to 500,000 shaves, | no par value, and to rr?’llo a new fssue of 150,000 shares of 5 cumulative class B stock. Sinclair Refining Co. today ad- vanced the price of kerosene in rail- road tank cars 1 cent a gailon at New York, Philadelphia and At Jantic Coast terminals. The new quo- tation will be 11 cents. Profit of Ke! Wheel for the first half of 1926 declined to Dbe- fore Federal taxes, from $§ 1.,., in the first half of The Ward Baking Corporation has placed contracts for the constructio of a large bread and cake plant in Baltimore. A substantial addition to the company’s plant in Columbu Ohio, will be completed by the end of the vear and plants in Jacksonville, ¥ and Birmingham. Alu. will be in operation in a month or two. Private dispatches from Los Angeles to Wall street suy new properties ac- quired by Californja Petroleum in Montana have production of about 26,000 barrels dafly in the Sunburst fleld and other substantial produc- tion under contract. Net profit of the Pan-American Petroleum and Transport Co. for the first half of 1926, amounted to $15.- 335,616, equivalent to $5.56 a share on the common stock outstanding, com- pared with $16,539,000 or $6.02 a share on the common in the corresponding period of 1925. The report does not include any proportion of the profit of Lago Ofl and Transport Corpora- tion. Consolidated surplus for the half vear 71,1 an increase in 3ix montha of $7113,115 David Pender, cl board of the David Pender Grocery Co.. announced yesterday that he would resign from the company on August 31. net operating income of the nd Northwestern advanced to $2,448, 30,898 in July last year and for the seven months of 1926 to $12,250,068 from $9,182,536 8 year ago. airman of the July Expenditure by the Florida Fast Coast Railway Co. of about $21,000,000 in extensions and improvements is planned for 1926, says H. N. Roden- haugh, vice president and general manager, who reports that the cost of improvements to the system for the last four years will then amount 1o $60,000,000. A second main line double track virtually was completed this month between Jacksonville and Miami, 366 miles. —— . A convention to stablize prices and standardize goods has been formed by Fayon producers of Germany., . o on talk of | and | the | . | Congress CEr(3) ek ended August 21 is | per cent | Allled Chem (4). AllledCm pf (7). Allls Chalm ().. Amal Leather. .. Amal Lthr pf(7) Amerada (1.60) . Am Agricul Chm Am Beet Sugyr.. Am Bosch. Am Brake Sh(6) Am Br Bov EI(2) Am Hide & Lea. . Am Hide & L pf Am Internatl Am Linseed. Am Linsa pf (7) Am Locomot (8) Am Loco pf (7). Am PotLt igl). Am Safety R (3) | Am Sm & Ref (1) | Am Sugar (6). | Am Tabaceo (8). Am Tobac B (8). Am Wa Wo c1.20 Am Woolen. .... Am Wool pf (7). Am Writ Pa pf.. Anaconda (3) Armour of 111(A) Armonr of I11(B) Arnold Con (n).. Artloom (3).... Art Metal (1). Asso Dry G(2% Atchison (7).... Atchison pf (5). At1C Line(19%) Atl Guit & WI.. | Atlantic Refine.. Atlan Ref pf (7) Atlas Powdr (4). Baldwin L (7).. Salto & Ohto(5). Bang & Ar (3).. Barnet Leather. Rarnsdall A (2) Bethlehem Steel Beth St pf (7).. Briggs Mfg (3). Bkin Edison (8). Brunswick Balk. Rrunswick Ter.. Burns Bro (10).. Burroughs (14). Hutterick. Byer & Co. | calit Packg (4). Callf Petrol(2).. Calume&H(1%). Can Pacific (10). ‘ase Threshing. Cent Leather. .. Cent Leather pf. Century Rib M.. Cerre De P (4).. Certain-Teed (4) | Chand-Cleve.... “hand.Cle pf(4). Ches & Oh (112). 117% 104 42 4% 26% 46% 103% 27% Chi & Bast T11 pf 11 ni Great West. ©hi Gr West pf.. Chi Mi1 & St P pf bt & Nwa (4).. Chi R T & Pac |CRI&P DL (8). Childs (32.40)... “hiwe Cop (2%). Chrysler Corp(3) 84% oca-Cola (7). ... 160% ollins & Alkmn. 52 Collina&Alk pt 7. 111 Col Fuel & Iron. 424 Colo Southern. ol Gas & El (6) Col Carbon (4).. | Com Cread (2) ! Com 1nv (3.60). | Com In Tr pt 6% Com Solv B..... 1624 | Congoleum-N... 24% 4 5% 2% Consol Cigar.... ‘onsol Distribut onxol Gas (6).. 10 | oasol Textile. Cont Baking A.. Cont Baking B.. | Cont Bak pf (8). Cont Can (16).... Cont Mot (80¢).. | Corn Proa(t2%) Coty Inc (4).... Cructble 8t (5). Cuba Cane Sugar Cuba Cane Su pf. Cuba Co (4).... Cuba Co rights. . Cuban-Am S (1) | Cushman's (8)... Del & Hud (9).. Del L & Wn (17) Dodge Bros Cl A ‘ Dodge pf (7). Nome Mines d)A Dupont (14) . Fastman (V!! Faton Axle & | s, | Famous P1 (32). | FedLight(*1.40) Federal Truck.. First Nat S(1%) Fisk Rubber. .. . Fletschmn(1234) Foundation Fox Fiim A (4). Freeport-Texas. Gabriel Snu (15) | Gen Am Tak (3) | Gen Asphalt..... yh pf (6). lgg:n | Gen Iitec (112). i | Gen Bice spisve) 11% GenGEEAE1% 50% Gen Motors (116} 210% Geu Mot pf (7).. 120 Gen Outdr Ad(2) 83% Gen Outdr A (4). 63 Gea Ry Sig 148, 90% Gen Refrac (3). Goid Dust Goodrich Ru (4) 62% Goodyear pf (7). 1084 Gothm S H (2%) 56% Gotham new 21%. 54% Granby Consol.. 24% Grt North pf (8) 9% Gt Noi Ore (1%) 207 Guilf Mo & Nor.. 35% Gu M &N pt (6) 107 Hartman (B)... Hayes Wh(13%) Helm Geo (16%) Tcusehd (13%). Houston Ofl.... Howe Sound (3) Hudson Mo(3%) Hupp Mot (1)... Oitnots Cen (7). 128 Indep O11 (1).... 24% Intconti Rub(1). 16% Int Com Eng (2) 54% Int Harvstr(6).. 130% Int Mer Marine.. 6 Int Mer Mar pf.. 29% Int Nickel (2)... 36% Int Paper (2) 62% (nt Paper pf (7). 96% Int Tel & Tel (6) 122% Int T&Teleg rts. Jewel Tea... Kan City South. Kayser J (3) Kelly-Spring Kennecott (4).. Lago Of! & Traa. Lambert (3%).. Lee Tire & Rub. Leh&.Tink stf(3) Life Sav (1.60). Liggett & M (14) Lig&MB (14).. Lima Loco (4).. Liquid Carbonic .« Loew's Ino (2). Lorillard(8). Loutstana Of1 LouisGasA (1.76) Lou&Nash(16%) ISD Ludlum Steel (2) 31% | Gen A | | | NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office . Low. Close. 8 THE EVENING STAR. WASHINGTON, D. C. SATURDAY, AUGUST 28. 1926. Open. High. Low. Cxuu o { MeCrory B gl 1 T 60. 177 Mack Trucks (6) 128 Mack T 18t (7).. 112% Market St 2d pf. 8% Mackay pf (4).. 173 Macy HR & Co.. 116% Mallison & Co... 16 Man EI Sup (5).. Man El m g (d5) M>aracaibo Ol. .. Market St prior. Marlane O1l (4). Mathieson (4).. Maytag Co (2).. Mexican Seabd. . Atid-Continent. . Mlddle States. . . Midland pf(+10). Min St P & SSM. MoK & T pt (8). Missourt Pacific. Missouri Pac nf. Montgom Ward, Moon Mot (3) Mothr Lode(75¢ Mo Pleture(1%) Motor Met. ) AMurray Body. .. Nash Mot (13).. Nat Biscuit t43 Nat Cash Reg(3) Nat Cloak & Suft Nat Dairy (3)... at Dpt Stores. Nat Distillers. Nat Enamel & S. Nat Enem pf (7) Nat Pw&Lt(80c) Nat Supply (4). Nevada Cop (1). NY Alr Brake(2) N Y Canners C2. NY Central (7). :’Y Chi&StL(11) NY Dock Dl (6). NY & Harl (5).. NY NH & Hart. . NY On & West. . N Y Rys 2d stpd. Niag F pf (1%). Norfk & Wn (18) North A (B3.40). NthAm Ed pf(7) North Pac (5).. Norwalk (80c). . Nunnally (1.50). 011 Well Sup (2) Omnibus....... Onyx Hos (3.20) . Oppenheim (3).. Otis Steel. . Otis Steel pf. Outlet Co (13%) Owens Bot (t4). Pac Ol Stubs. .. Packard (12.90). Paige Mot(1.30) Pan-Am B (6)... Pan.AmWnB(2). Panhandle. .. Park & Tilford. . Park Utah (607) Pathe Ex (c3) .. Penick & Ford. . Pennsy R R (3) Penn-Seab Steel. Fere Marq (18). Phila& RC& L. Philip Morris. . . Phillips Pet (3). Pierce-Arrow. . . Plerce-Ar pf (8) | Plerce Petrolm Pitts Coal Pitts & W Postum (5). ... Prod & Refiners . Producrs & R pf Fub Ser NJ (6). Pullman Co (8). Pure Ofl (1).... Radio Corp of A Rand Min(a1.52) Rap Cop (25¢).. Reading (4).... Reading ris..... Remington Type Reploxle Steel. . Rep Ir & Stl (4). Reynolds Spngs. Rey Tobac B(5). Robt Rels & Co. Royal D (a3.078) Safety Cable (4) St Jaseph Li(3). S:L & SanFr (1) St L Southwest. Savage Arms (4) Sohulte (§8). Seaboard Alr L. Seabd Afr L pf.. Seagrave(el.20). Sears-Rn (234). Snell Un (1.40).. Shubert The (5) Stmmons (12.26). Simms Pet (1).. Sinclair Ofl..... Skelly O11(2)... Sloss Shefl (6).. Sou Cal Edison. Sou Dairtes A(4 Sou Dairfes B... South Pac (8) Southern Ry (7). Spicer Mfg. ..... Std Gas & El g3. $1d G & El p2(4) Std 041 Cal (2).. StdOUNT (1).. Std O11 NJ pf (7). Sterling Pro (6). Stewart War (6) Studebaker (). Sun Ofl (11).... Supertor Ofl.... Texas Co (3). Tex Gulf 8 (19). Tex & Paciflo. .. Tex & PacC& O Thompson(3.60) Tide W Oll pf(3) Timken (16).... Tobae Prod (7). Tob Prod A (7). Transcont Oil. .. Transue & W(2) Underwood (43.. Un Bag & Paper. Un Carbide (5).. UnOMl (3)...... Un Pacific (10). Un Pacific p£(4). Utd Clgar S(c2). Utd Drug (8). .. United Fruit (4) U SCIP&F(10) U S Distributing U S 1nd Alcohoi. U S Realty (4). C S Rubber. U S Steel (7)... U S Steel pt (7). Universal Pipe.. Vanadium (8)... Vivadou (3). Wabash. .. | Wabash pf A(8). . Waldorf (1%).. Ward C1 A (8). Ward Baking B. | Ward Bak pf (7) warner Bros. . .. | Warren Bros (4) | West Maryland. West Pacific. ... West Pac pf (6). Westinghse (4). Weston Elec. ... Wheel & L Eris. | Wheel& L E pf. | Whize Eagle (2) White Mot (4).. White Rock (2). White SM pe(4). wickwire ctfs.. . Willys-Overland Wuson & Conew 9% Wilson A (new). 18% | WoolwthF'W (161 168% Wright Aero (1) 35% il l Yel Tr& C (12c). 334 | Youngstown $4) 90% 0% 90% 56% | 21% tes 2 eiven In the arDiyidend rat ‘i:hnm " mov:- table 62% | i friviy cu-rw year] Koeace not inciud din- | SeRgAY stock gira. ;.m.:. X nlf?w umruf“'v‘"lm s in s 21 137 121% 89% 21% 103 19 168% 1569% 36% 35% 3% 82u T | 36% | 21% ; American office equipment i= being used extensively by the government L Spain. Y oSt NEW HIGH RE(}[lRlll Rail Issues Feel Strength ofE Stocks on Exchange—Bra- " zil 7s Lower. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, August 28.—French 7 per cent bonds, continuing the active buying movement of the previous days, made a new high for the year| today. . They crossed 93 for the first | time, and this was done on a large turnover., Other French issues were strong. The French 8s were also selling at top figures. Some further buying oc- curred in French Citles issues, at a slight advance. Paris, Lyon ' and Mediterranean 6s were well up to their best. Department of the Seine 7s were also substantially higher. Est Rallrods 7s held firm at their top. - The German group did little with the exception of the Rhinelbe 7s, which were up at one stage % of a point. Berlin 6%s and Cologne 6%s were inactive, and so were German government 7s. Brazil 7s were ac- tive and somewhat lower. At one time they were off 3% point. Railway bonds of the type that move with stock felt the effect of the strength in railway shares. Delaware and Hudson convertible rose over a point. New Haven convertible 6s and International Great Northern adjust- ments were higher, and so were Mis- souri, Kansas and Texas adjustments. There was a good deal of trading in these adjustment bonds. Standard investment among the rails like Atchi- son 4s, New York Central 5s and Union Pacific 48 were merely firm. Glrei.t Northern 7s advanced a frac- tion. REVENUE SMALLER. . T B, C. & A, Pennsy Slxblldhry, Shows Larger Deflicit. BALTIMORE, August 28 (Special). —The Baltimore, Chesapeake and At- lantic Rallway, a subsidiary of the JPennsylvania Railroad, reports for July operating revenue of $171.621, a decrease of $13,480; net revenue from railway operation, $28,027, a decrease of $19,064; raflway operating income of $15,228, a decrease of $23,614, and net raillway operating income of $15,- 727, a decrease of $24,291. For seven months railway operat- ing revenue was $768,264, a decrease of $36,609, with net revenue from opera- tions showing a deficit of $62,541, an increase of $36,014 in the deficit. The raflway income deficit was $187,582, an increase in the deficit of $45,047, with net railway operating income def- icit $191.280. an increase in the deficit of $43,737. BANK LOANS LOW. NEW YORK, August 28 (A).—Bank loans of the Textile Products Co. are at their lowest point since 1916. Since the first of the year these obligations have been reduced from $2,706,000 to $1,250,000. "The company reports nor- mal business, but earnings are not ex- pected to be satisfactory until better selling prices can be obtained or the margin of difference between costs and sales can be increased through lower raw materials. HAS PROSPEROUS JULY. NEW_YORK, August 28 (#).—The Great Northern had a prosperous July, net operating income rising to $3,002,761 from $2,595,033 in July last year and for the seven months of 1926 to $10,025,702 from $9,439,599 in the same period or 19 RUBBER ADVANCES NEW YORK, August 28 (Special).— Crude rubber, smoked ribbed sheets, advanced a quarter cent today to 40% cents. This compares with 41 cents a month ago and 84 cents a year ago. == GOLD FOR GERMANY. NEW YORK, August 28 Another shipment of $5,000,000 in gold was sent to Germany this week by the Federal Reserve Bank of New York, representing withdrawals by the Reichsbank from its “earmarked” account here. This brought -with- drawals on the current movement to $20,000,000. Y T PRICES ADVANCED. NEW YORK, August 28 (#).— Youngstawn steel producers have ad- vanced the prices of full finished auto- mobile sheets $2 a. ton. - MORE PAILUEES NEW YORK, August 28 (#).—R. G. Dun & Co. report 866 commercial failures in the United States this week, against 362 last week and 347 a year ago. BOND ISSUE 0K The Central Railroad of New Jer- sey was authorized by the Interstate Commerce Commission yesterday to is- sue $2,670,000 of 415 per cent equip- ment trust uerufleates: ‘WOOL MAB.KETS QUIET. BOSTON, August 28 (Special).—Raw ‘wool markets closed the week quietly, but with values fully maintained. Fresh combing territory wool was in best demand. Fine and medium staple sold around $1.12, up 2 cents from recent levels, and some dealers are holding out for $1.15. . COTTON GOODS QUIET. NEW YORK, August 28 (Special).— Cotton goods closed the week quietly with print cloth prices unchanged at 7% cents for 64x60s and 8% for 68x72s. Raw silks were steady, but slow. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY SAN FRANCISCO, August 28.—An extraordinary large raisin output is expected this year, partly owing to poor returns received last year for the large quantity of raisin grapes shipped fresh. It Is estimated that 100,000 carload of grasses already are on the drying trays. PORTLAND.—Mills of the West Coast Lumbermen's Association pro- duced 112,492,078 feet in the last week, sold 102,380,601 feet and shipped 116,- 579,324 feet, showing gains in all lines of business over the preceding week. ‘WINFIELD, Kans.—Kansas' big- gest oil well now is flowing at the rate of 100 barrels an hour. It is the Rox- ana Petroleum Corporation’s Mason ‘Well, located in the Churchill area north of Oxford. ATLANTA.~Cuba has ginned and marketed its first bale of cotton, ac- cording to officials of a local manu- facturing concern which has erected the first ginnery on the island. A Boston concern is planning to plant several hundred acres to cotton fin Cuba next year ag ab oxperiment, eceived by Private ere UNITED STATES. (Sales_are in $1.000.) Sales. High. Low. Close. Lib3%e. 1015 1016 1016 Uib 1st 43s 30 10131 101 28 10128 Lib2d 4%s. 72 100 26 100 24 100 24 Tib3dais. 26 101€C 1014 1014 Lib 4th4%s 57 1023 12 10116 3 1 108 23 103 23 103 23 6 10720 107 16 107 16 FOREIGN. Sales. High. Low. Close. 92% 93 99 29% 99% 99% o 100% Australian bs. ... 98% Austria 7s. Bank of Chile 6%: Bank of Japan 6s. . Belgium Chinese Gov Ry 5 Con Pow Japan 7s. Copenhagen 5% Czecho 8s 1962 ct. . Dutch East I 6s 47. 'ch East 1 Ger Gen Elec 78 Ttaly 7s, Japanese 6%s. . Netherlands 6s 54. Netherlands 6s 72. Norway 65 1944. Norway 6s 195! Orfent Dev d Paris.Ly-Med fs. 113% 113% 109 %109% 102% 102% 102 1024 104% 104% 105% 99% 89 93 83% 103% 104% 103% 94% 105 Queensland 7s. Rhinelbe 7s war. Rio de Jan ¥s 19 Rio de Jan 8s 4 Sao Paulo Sao Paulo 1950 Saxon (PW) 7 Seine 78 42. Serbs Crot Slo Soissons 6s. Sweden 5% ot. Sweden 6s. . . Swiss 6% 1946 .. Toho Elec Power 78 Utd Kingm 5%s37. 10 105 MISCELLANEOUS. Am'Smit& R1st5s 1 100% 100% 6 103% 103% 98 102% 100% 105% 97% 109% 102% 102% 104% 105% 9% 100% 103% 97% 101% 100% 105% 9% 58% 103% AmT&T d!bs‘fil. Am Water Wks 5s. Am Writing Pap 6s » EomBowe 0w Armour&Co Armour Del 5* Barnadall 6s otrs. . Beth Steeirf 5s.... Beth Steel 5%s 63. Reth Steel 6s. ... PETIO - eP Donner Steel 7s. . Dugquesne Light 6s. Est Cuba Sug 7%! Empire G h F 1% Good ye: r Goodyear 85 1941. - Hershey B%s. Ulinois Steel 4348, tnt Mer Marine I Tt 11 10 3 4 1 5 27 fi 1 3 1 7 1 2 1 3 4 2 9 1 20 1 1 [] 5 5. 2 1 1 4 8 0 3 5 11 7 Manat] Sugar sf 7% 2| Midvale Steel 5s N Y Tel 68 41. N Y Tel 68 49. Nor Ohlo T & L 6s. o Peoples Gas 5 Phila & RA C & 165 P Serv Gas 5%s 5! Sharon St1 H 85 Sinclair Of1 Sinclair Ol Stnclair Ofl Sin Pipe Li! Skelly Ol1 6 Southwest Bell ‘Tenn Elec Pow U'S Rub 1st rt 6 U S Rub 7% U S Steel s Warner Sug West Elec bs. Westinghouse 7s. . Willys Ov 6%s 33 Winchester A 7 Youngstn 8 & T 7 RAILROAD. Atchison gen 4s. = Atlantic CL 1st At] & Dan 2d 4s B & O gold & B & Ocv 4% B& Oret b B &Orf imp 6 B&OS E&OS: Bkiyn Manhat €s. Buff R & Pitt 4% Canad North 6%s Canad North 7t Canad Pac deb Somomn~- ~ emaB8am ~uen ® a CM&St Prid%s. CMA&StP r 438 cf14 !‘l T Chi & NW (K 87. Chi Rys §s. =0 ©Cwnod vnemarne | Erie conv 4s A. | bonds interchangeable. | general rule nowadays, but ralroad Direct to The Star Office. Sales. High. Low. Close. - 3% 6% 6% 5% 75 5% 110% 110% 110% 98% 98% 116 115 921k 92% 101% 101% 105% 105% 113% 113% 20% 20% 6% 97 3% 8t4 87 87Tk 1034 103'% 101% 101% 4% 1“‘ Erie conv 4s B. Erle Genessee R A Green B & W db B. Hud & Man ref Hud & Man aJ l-.. 111 Cen 43 53. Tl Central 5%s 11-0-C StL&NO Bs. 3 Buarawdvuaent-an % 954 104 106% Tnt & G Nor ad 6x. .12 %1% Int RysC A 68 72.. arabnmwBan IKansas Clty 8 Kan Citv § §s Lehigh Val en Louts & Nash 7 MStPASSMEs38etd MK&T4sB.. MK & T adj 58 .azo MK&ToprinbaA. Mo Pacific gen Mo Pac 6s 49 D. lom 1064 98Y% 98% 84 84 94u 9% 100% 100% 724 2% 104% 104% 105 105 99% 99% 994 99% 105% 1054 5% 95% 103% 102% 107% 107% 108% 103% 103% 103% N O Tex &M in b NOTex&M5sB.. New Hav deb 4s 5.. New Havd 48 567... New Havan u a Northern Pacr{ Ore Short L rfs 4s. Ore Wash 1st rf Pennsyl gen 4%s. . Pennsyl gen 58 Pennsy! 5s 64. Pennsyl gold Pere Marq 1st 5s PCC&StL5sB175. Reading J C 4s 51. 105% 105% 101 101 107% 107% 102 1024 1024 102% StL&SFplésA.. 20 StL&SFprin St L& SFad) St L& SF inc StL&SFplésC.. mu 101 St P & KCShL 4%. % i 9K % T9% 95% 95% 97% 9w 83.2 106% 106% 17% 1% Seab A L con Seab All Fla 6 Sou Pac 45 29. Sou racine rer Southern Ry gen 48 Sou Ry con 58 94... Southern Ry. 6% Third Ave ref Union Pac 1st 1031 103% 13% 13% 82% 824 BIG MILL PLANNED. Plant Near Gainesville, Ga., to Cost Several Millions. NEW YORK, August 28 (#).—Con- struction of a large cotton mill in the vicinity of Gainesville, Ga., costing several —million dollars, with the eventual development of a model set- tlement, is_ being planned by the Chicopee Manufacturing _ Corpora- tion of New Brunswick, N. J., and Chicopee, Mass., it was learned to- day. G Survevs of land about three and a half miles from Gainesville are now being made. Officials of the company sald tentative plans include the erec- tion of a mill, bleachery, power house and several hundred cottages. West Maryland 4s. Wisconsin Cent 4s FLOUR IS EASY. NEW YORK, August 28 (#).—Flour easy; Spring patents, 7.50a7.90; soft Winter straights, 6.4026.65; hard Win- ter straights, 6.85a7.25. FINANC INTODAYS TRADING | Early Offerings Readily Ab- sorbed—Weather Stabil- izes Prices. {Br the Asscciated Prose. NEW YORK, August 28.—Cotton futures opened steady; October, 17.80: December, 17.82; January. 3: March, 17.95; May, 18.06. The mnrket opened steady at a decline of 1 point to an advance of 2 points. There was a little selling on prospects for better weather in the eastern belt, but offer- ings were readily absorbed. Relativel firm Liverpool cables and privite r ports of additional rains or showers in Texas also acted as a stabilizing influence. October contracts worked up to 17.856 and January to 17.88, or about 5 to 9 points net higher. Private cables said that hedge sell- ing in Liverpool had been offset by trade calling and covering, although buyers of cotton cloths and yarns were disinclined to operate, as they anticipated lower prices. There were reports in the market here that South- ern mills and continental importers were buying spots more freely in the South. New York cotton futures closed steady’ at a net decline of 2 to 10 point 7 3% 18% Fmust M ew nrleln- Quotations. NEW ORLEANS, August 28 (P) Cotton futures opened stead tober, 17.82; December, 17.75: uary, March, 17.83 asked: May, The market opened firm in sympathy witk higher ca- bles than due, first trades showing gains of 2 to 7 points. Prices con- tinued to improve after the start on reports of rain in the belt, October trading up to 17.85 and December to 17.80, or 7 points above yesterday's close. A slight bulge soon brought out selling and prices eased off to 17.74 for October and 17.16 for December. New Orleans cotton futures closed steady at a net decline of :« to 4 points Jnn BIG REGEIPTS SEND WHEAT VALUES DOWN Winnipeg Arrivals More Than Double Those of Year Ago. Corn and Oats Easier. By the Associated Press. CHICAGO, August 28.—Enlarging receipts of new wheat at Winnipeg were largely responsible for an early downward swing today of wheat prices here. The Winnipeg arrivals were more than double those of a vear ago. Starting unchanged to %c low!" wheat rallled a little, but soon took’a decided drop all around. Corn and oats were easier, corn opening 15 to %c off, and subsequently under- going a further setback. Provisions tended upward. Emphasizing bearish effects of a rush of freshly harvested wheat to market in Canada, world wheat stocks were reported here today as showing an {increase of 2989000 bushels, against a decrease last year of 30,310,- 000 bushels. The total world stock of wheat og August 1 was announced as 145,809,000 bushels, compared with 139,116,000 bushels the corresponding day of 1925. In the corn market notice was be- ing taken today of the fact that Gov- ernment pars on the yield per acre of corms for August will increase more than one bushel. This increase ap- plied to the acreage will give an fn- crease in estimated production of about 100,000,000 bushels, exclusive of any increase that has taken place this month owing to general improve ment of the growing crop. Rye easy; |S$ No. 2 Western, 1.07% f. o. b. New May York and 1.05% c. 1. f. export. Barley easy; malting, 80%a 82% o. 1. f. New |8 York. Lard firm; Middle West, 15.50a 15.60. Tallow firm: special loose, 8%; extra, 8%. Wheat futures opened steady; domestic December, 1.40%. Other articles unchanged. BANK CLEARINGS. NEW YORK, August 28 (Special).— New York bank clearings, $778,000, 000; New York bank balances, $88, 000,000; New York Federal Reserve bank credits, $72,000,000. e BUTTER UNCHANGED. CHICAGO, August 28 (#).—Butter unchanged, receipts, 11,127 tubs. Eggs unchanged, receipts, 9,668 cases. EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. More About New Bond Issues. Besides the matter of call price, the technical features of a new bond issue which require examination include tax-exemption, denominations, provi- sions for listing, if any, and dates of interest payment. Tax-exemption is of more impor- | tance to investors of large means than to the small capitalist, but it {s worth considering. Some corporations pay 2 per cent of the normal Federal in- { come tax for the holders of their bonds and some do not. Take, for in- stance, a 5 per cent. bond. The an- nual interest payment is $50. Of the income tax on this $50, the corpora- tion may pay as much as 2 per cent or $1 a year. The standard denomi- nation is $1,000. Some bonds, how- ever, are obtainable in $500 and $100 pleces. If the smaller denominations are bought, it is desirable that they be exchangeable for the larger in equal total amounts— that. is to say, 10 $100 bonds being exchangeable for one $1,000 bond. It is also an advan- tage to have registered and coupon bonds formerly were sold without this privilege. The market for securities is always important. If it is the intention of { the bankers to make application to list the new on the Stcck Ex- change, that fact will be stated in the offering circular. If there is no such provision, it is pertinent to inquire | whether the bankers will maintain a market of their own. Dates of inter- est payment are of significance only when the investor wishes to spread out his income regularly throughout the year. In recent years bonds car- rying the privilege of conversion into stock have become very popular. This gives the buyer a chance to partici- pate in the profits of the business. Each such offer must be judged on its own merit. mmmiuwwi;:wmuthu ese conversion privileges are given to help sell the bonds. 1o pay. Log bigh a price for them. ‘That is the |Sales. Tt is well not. BALTIMORE, August 28 (Spechl) —Potatoes, barrel, 2.00a5.0( bq.r ; yams, barrel, 2.0085.50; b\llhel 1.26al. 50 beets, 100, 2.00 00; cabbage, 100, 2.00a4.00; carrots, 100, '4,0086.00; celery, crate, 1.50a3.00; [ 5 corn, dozen, 10a18; cucumbers, basket, 40a50; eggplants, basket, 65a75; let- tuce, basket, 1.50a2.50; lima beans, bushel, 1.50a1.75; onions, 100 pounds, 1.76a2.00; peas, bushel, 2.00a2.50; pep- pers, basket, 25a30: squash, basket, 30 a40; tomatoeg, ripe, basket, 25a50; tomatoes, green, 25a50; packing stock, bushel, 70a75. Apples, barrel, 1.00a2.50; bushel, 40a 1.25; blackberries, quart, 10a12; can- taloupes, basket, 26a75; crate, 40a1.50; honeydews, 1.26a1.75; peaches, bushel, 1.00a2.26; pears, hamper, 650a1.00; plums, basket, 50a75; huckleberries, quart, 10a15; watermelons, 100, 8.00a 35.00; culls, 5.00a6.00. Dairy Products. Live poultry—Spring pound, 25a82; Leghorns, 22a27; old hens, 20a30; Leghorns, 20a21; old roosters, 19a20; ducks, 26a28; old, 15a 20; pigeons, pair, 20a35; guinea fowl, each, 50a75. Eggs—Receipts, 206 cases; native lnd,znell‘by current receipts offered at Butter—Good to fancy creamery pound, 43%ad5%; prints, 40%MS%~ blocks, 4233a44%; ladles, 30a31; rolls, 25a27; store paoked, 24%a25; dairy prints, 26a27; process butter, 35a36. g A CHICAGO STOCK MARKET. CHICAGO, August 28.—Following is a report of today’s sales, high, low and closing quotations at the Chicago Stock Exchange: * chickens, Low. 3 . Close 180 Am Staten A wi.. 3 49 Ao 1w % i 15 58 74 33 39 oy (1 i3 o 3§E§§§§E§" &+ - . - S SO R g Sahs g—g»!... R E o 19 3 - - ”E s R = =33 - i RO o P N I ) W TR i3 o ouamissis e Sassaesshenmmees s F-- TAL. IFRENCH BONDS SET | Coxew von_BONDS o ] '[}UTIUN ISHIGHER (CAPTAL TRACTION { INCOME SMALLER July, 1926, Fugure Tops Last Year, But Is Below the Jotal for June. action Co. had « more successful July this year than ilast, but revenue fell off somewhat trom that of the prior month, June. of ithis year. according to the monthly report filed today with the Public Utllities Commisston. Total receipts weve $363.956.18% for July this year. as compared to $350. 937.41 in July last vear and $388.670.61 in_June this vear. Total expenditures were $330.169.66 j for July this as compared $318,515.17 last year, leaving_net lcome in July this year of §: and in July of last v During June of this year net income was $69.478.29, The number of revenue passerigers carried this July 1.1 The Capital {8:316.431 June, For July this \c.lr railway ree were szh 520.94 and bus receipt 490.79, as compared with raflw ceipts of $343.366.91 and bus receipts of $5,088.62 in Jul: nd raflwa receipts of $367,996.41 and bus receipts of $16,170.36 in June, 1926. Bank Clearings Smaller. Bank clearings in Washington fell off, the figures this week standing :* $20.673,945.06 as compared to $23.503, 475.54 last week. The Otis Elevator Co. has been awarded the contract for the elevators to be installed in the National Press Building, at Fourteenth and I streets it was announced today by Frank R. Dunlap of the Fuller Construction Co., general contractors for the bullding. The amount of tife contract was nat made known. Activities at High Pace. In its review of busine: Dun & Co. declares that v business have not been lacking, yet actlvities have continued at a rela- tively high level in different channels. “Allowing for seasonal restraints,” the review says, “results in the month now closing have been unusually fa vorable, on the whole, and most of the statistical barometers point upward The heaviest railroad freight traffic ever reported for this perfod and a rate of steel output that foreshadows a new high record this year, are out standing features, while merchandise exports have increased, the number of failures has decreased, and gains in bank clearings are shown by many cities. The latter phase is the more significant, because declines in com- modity prices have predominated of late, with 34 of a total of 50 changes iin Dun’s list this week being in a downward direction. Yet more firm- ness prevails in some quarters, in- cluding the cotton goods market, and i the large attendance of vis ers at the principal centers, lndh"l(e" that various supplles are in need of replenishment. Generally, the purchasing policy re- mains one of making moderate-sized commitments only and chiefly for nearby shipments, but such orders are repeated frequently and in the aggre- gate are of very large volume. The practical absence of speculative ex- cesses in trade Is reassuring, sound basic conditions strengthening pros- pects for a good Fall business, and conservative optimism is the ruling sentiment. The weather has recently been less favorable for the progress of crops and the latest cotton estimate was below expectations, vet large harvests of the leading farm staples are foreshadowed and the movement of wheat has been conspicuously | heavy. The price for that cereal, partly owing to the large increase in the visible supply, has fallen still further, but the quotation on cotton advanced this week in response to the #maller Government crop forecast and reports of a tropical storm along the Gulf coast. The annual dinner to bank women of Washington will be held on Sep- tember 21 at the Women's City Club, it is announced by the women's com- mittee of Washington Chapter, Amer- fcan Institute of Bnnklnx PO‘I'ATO mmr UNSETTLED. CHICAGO, August 28 (#).—Pota- toes—Receipts, 103 cars; on track, 11 total United States shipments, 809 cars; trading very slow and irregula; market unsettled and very weal Kansas and Missouri sacked Irish cobblers, 2.10a2.30; mostly around 2.20; Idaho-Colorado sacked round whites, 2.50; Minnesota early Ohlos, 1.85a2.00: sacked round whites, 2.15a2.50, ac. cording to qualily FOREIGN EXCKANGE (Quotations furnished by W. B. Hibbs & Co | Nominal Selling checks oid value. ~ _ tod: -S$.8065 84 X134 London. pou Montred1: d zlof Cobenhagen, crown . Qolo, crown. . tockholm. cro NEW YORK, August 28 P)—For eign exchanges mixed. Quotations (in Great Britain, demand, 484 11-16; cables, 485 3-16; 60 day bills on banks, 4805.8. France, demand 2.88; cables, 2.80. Italy, demand, 3.24 cables, 3.25. Demand: Belglum, 2.75; Germany, 23.83; Holland, 40.03%; Norway 21.88: Sweden, 26.72; Denmark, 26 Switzerland, 19.30; Spain, 16.25; Greece, 1.123: Poland, 11.37%; Czecho’ slovakia, 2.96; Jugoslavia, 1.76%; Aus. tria, 14.12%; Rumania, .49; Argentina, 40.373%; Brazil, 15.31%; Tokio, 47.93% Shankhai, 69.75; Montreal, 100.18%. PRSI, SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) Agirond. P. b, $22332333828283 PR SERPERSE ¥ s = 0 22358338382 233 } Federated Meial | Fisher Body Corp. | Goodyear Great Northern 5 23255 & < EREERE 3 B E PICEIEERNS B F= TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.! The new Paris-Berlin airplane serv- fee provides a seven-hour schedule, | including a two-hous stop at Colugne,