Evening Star Newspaper, September 11, 1926, Page 30

' SATURDAY. SEPTEMBER 11. 1926 Sales High. low. Close 1204 1 T8% 1194 | (Sales are in $1.000.) Ch1 & W Ind en 9 854 B34 8ot/ BANK CLEARINGS SHOW ADVANCE' o vovvom B ’ -l OF 1.4 PER CENT OVER LAST WEEK “l:"“‘m?thQS@_f‘E FOREIGN BOND LIST tac T T oy 135 (352 ”"""":Ten of 25 Largest Cities Report Gains.| UN'Ts;D-I;E:;i o ';ggg:é;';;;'- g aei o aid DRAWS AHENHUN Jordan Motor. .. Kan City South. SUGARS SHOW GAIN | [NEW YoRK STOCK EXCHANGE Lib 1st 4% e Quiet Session Has Few Changes of Importance. Rail Shares Sell Off. BY STUART P. W Speeial Daspatch to The Star NEW TORK. September 11.—In the course of the quiet two hours finishing the week on the Stock Ex change, the market today showed few changes of importance. Some of the sugar stocks continued strong, giving further expression - to the opinion which Wall street tormed earlier in the week, that the sugar trade had turned the corner, although most of the annual reports promised 1o be poor. Punta Alegre was up jnore than a point and so was Amer- ican Sugar. Cuban American. which had left off yesterday at 23%, crossed 4 on large transactions. Railway whares were ol 4k but a good deal of scaitered selling came in of the sovt which is typical when the major npward movement has halted. Delaware and Hudson and Union Pacific were lov er. Kansas City Southern. responding furfher to the opposition to the merger pians in the Southwest. dipped down again and’was off altogetheNnearly 3 points from {is high of yesterday morning N York Central aleo had s mod- erate decline Motor shares wers mostly lower without anv great amount of pres- sure, but with still a manifest di~ position 1o sell around current prices This was true of General Motors 4u Pont, Hudson, in fact, of every thing.. but Studebaker, which stoo out strongly on a repetition of the storr of an extra dividend. The re- eent weakness in Mack Trucks was #aid to have been due o the ligui- dation of an unsuccessful speculative operation and nct so much through any change in business conditions These have beensgoing through the slowdown, customary at this season of the vear, but not more so WALL STREET BRIEFS NEW YORK. September 11 (#) Steel mills of the country have in- ereased operations about 2% per cent in a week, estimates in the trade placing the present average at al most 86 per cent of capacity, the high est rate the industry has shown for some time. [ndependent companies shew the sharpest gain, their aver age being now around 85 per cent, against aboui 31 per cent the pr ceding week. August shipments of the United Btates Steel Corporation w 1o customers are estimated in excess of 1,100,000 tons and incoming busi- ness more than 1.050.000 tons. The torthcoming vepori of Inter national Agricultural Corporation for the year ended June 30 will show earn ings of about $1.400,000 available for nreferred dividends, more than double the requirement for its $10,000,000 is- sue, said John J. Watson, Ir., dvrofl- dent, on his return from abroad. John H. Herts, rman of the Yellow Truck and Coach Manufactur- ing Co.. said he knew of no pending davelopment to account for the rapid rise fn the B shares, and based on the present outlook, he anticipated earnings in the current fiacal vear would closely correspond to those the | vear before. “~‘Thers are no sense- tional gains In our business in pros- pect for next marked increase added Continued active demand foy steel sheets is reported from the SChicago distriot. Spot buying is good and mills are booked four to six weeks ahead in earnings,” he Foreign trade of the Soviet Union In July was $3244,500 less than in June, largely due to unfavorable con- tions for the purchase of grain for export, the Russian information bureau reports. I[mports exceeded ex- ports by $1,802,500. 3 Net earnings of Ofl & Refining for the vear ended July 30 advanced to $5.841,215 from $3,808,516 the year be. | fore. Gross gained nearly $6,500,000 to $19,609,102 Control of the Lake Shove Power Co. and the Toledo and Indiana Inter- urban has been acqufred by Cities Service Co Stnger Manufacturing Co. declaved an extra dividend of $1 a share in addi- tion to the regular quarterly of $2.50 » share, both peyable September 30 to helders of record September 10 Stockholders of Pierce Arrow Motor year to indicate uny | i ber. 9% Allled Chem (4). 184% Allis Chalm (6). Amerada (1.60) Am Agrieul Ch Am Beet Sugar. . Am Beet 8 pf(7) AmCan(2)..... 56% Am Car&Fdy (8) 104 9 Am Express () Am & For Pow. . Am Hide & L pt. Am Toe (110) Am Linseed.... 37 Am Lins@ pf (1). 77% Am Locomot (8) 108% Am Mach& Fy. ' 754 Am Ma & Fy pf 7 121% Am Metals (4).. Am Piano pf (1) Am Po&Lt ig1). Am Republie. ... Am Safety R (3) Am Sm & Ref (71 149 Am Stl Fdys (3). 44% Am Tel & Tel(9) 147% Am Tobaceo (8). 122 Am Tobac B (3). 122% Am Wa Wocl.20 59 Am Woolen..... 324 Am Wool pf (7). 844 Am Writ Papf.. Anaconda (3) Archer-Danf i | Corre De P (4).. Armour of TII(A) Armour of 111(B) Arnold Con (n). Artloom (3).... Asso Dry G(3%) Atehisen (7).... 1 ", | Atchison pf (). At] Birm & At. .« At] C Line(19%) 2814 AtIGUIT & WI.. Al% Atiantie Refinz. 111% Atlan Ref pt (7). 116% Austin-Nichols. 12 Auto Sales. fly RaldwinL (Tr.. 118 Ralto & Ohto(8). 106% Rang & Ar (3).. Barnsdall A (3). Reech-Nut (13). Relding Broa(3). Bethlehem Steel Rrieen Mfg (3) Eritish Emplre Bkin Edlson ($) Bkin-Mn Tr (4). Arown Shoe (2). Rrunswick Ralk. 84% Rrunswick Ter.. 14% Burronghs (14). 117 Bush Terminal.. 294 Bush Ter de (7). 924 Butteriok. 2 Byer & Co . Calif Petrol(2) .. Calumet& Ar(8) i aDry..... 474 CanPacific (10). 166 Case Threshing. 181% Cent Leather pf. 583 70% 8% 14% 317 B9% 5% R% 42 1% 20% 124 224 1% 21% 814 63% K 8% 15314 63% 87 Certaln-Teed (4) Chand-Cleve. . .. Chand.Cle pf(4). Ches & Oh (12). 1 Chi & Alton....... Chi & Alton pf. . Chi & East 111 pf Chi Great West. Chi Gr West pf. ChiM & StP.. Chi M1l & St P pf C M1 & St P otfs C MII&StP pf cfs Chry! CCCaStL (5). 215 Coca-Cols (7)... 1614 Collins & Alkmn. 51 Collins&Atk pf 7. 110% Col Fuel & Iron.. 47 Col Gas & Bl (§) 824 Col Carbon (4).. 66% Com Cred (3) 27 Com Solv B (8). Congoleum-N. Congress Cgr(3) Con Cigars (7).. Conso! Distribut Consol Gas (5) .. Consol Te: . Cont Baking A Cont Baking B.. Cont Bak pf (8). Cont Can (16)... Cont Insur (6).. 136% Cont Mot (80c).. 11% Corn Prod(12%) 44% Coty Inc (4) Crex Carpet Cructble 8t Cuba Cane Sugar Cuba Cane Bu pf. Cuba Co (4 Cuban-Am S (1) Cudahy Pkg (7). Cushman's (8)... 46 1% 2W 108% 104% 35l Davison Chem. . 117 Nel & Hud (9). . Car Co., have approved an increase | DelL & Wn (17) 1434 in common stock and suthorized the second preferred stock to be used 1o liquidate the company’'s bonds and ac at the discretion of the directors. A sharp drop in earnings for the first half of 1926 is reported by G. R ¥inney Co., Inc. Net income was $326,682. equal after preferred divi Aends to 15 ‘cents a share on the com mon, In contrast fivet half of 1925 € SHEET GAUGE CHANGED. NEW YORK. September 11 (#) Youngstown district manufacturers of tull finished sheet steel (automobile bodies) today announced a change in the basic gauge on which price quotations are based. The change will raiss the price of the gauge most | Fairbanks generally used for automobile bodies. | Fam Play The basic guage hereafter will be 18 to 20, instead of 22. The basic price tor 18 to 20 gauge sheets was an nounced at $2.25 a hundred. un. ~hanged. The differential caused by the new method. however. makes the price of 22 gauge $2.40 a hundred | Freeport-Texas ance of $2 a | Gabr ‘instead of $2.30, an ton. BIG CHAIN STORE SALES. NEW YORK. September ) Bales of the 10 leading chain stoce companies of the country for the aight months ended Augusi % ag gregated $:45530481. establishing a new high record for anv sim:li: periad in the country’s history. Tne ncreass over the correspondiig onths last vear amounted to $40,- 7.987. or 13.37 per cent, while the gain in August business alone was more than & per cent above that of August, 1926 CRICAGO STOCK MARKRET. CHICAGO, September 11.—Follow ing is a report of todav's sales. high. low and closing quotations, at the Chi- cago Stock Exchange. Sales Armour 338 Armeur § p¢ AR Motor iing"‘"‘ Beck ore R lee )tcl’:e)alfl 0 Gotsard 06 By Briek . 0 Belioer Switch Fafl " cheeay 00 Libby MoNe) N0 Morgan Litho 00 Not Standa~d 128 Qtaker Gate ot 10! - jusker Oats 1 Silk 501 Igh'q s 3 S fo $582 in the | i | i | £ 1 Dodge f (). cumulated dividends on the preferred | Dupont (14).. .. 189 204 8% 806% 3 Dupont deb (8). 106% Luquesne pf (7) 114% 122% 264 70 8% 19% Detroit Ed (3).. Dodge Bros Cl A Eastman (13) ... Eaton Axle (3).. Kl Auto Lt(18% Electric Boat. .. Glec Power & Lt Elec P& L pL(7) Eleo Refrig(f2). Elec Sto Bat(16) mm-.voulv;s(l Engnrs PS p Fauitable pf (1) 126 RR . 88k a2 0w 524 ax, 113% 754 83 33 199 19% 19450 100 1005 Tin Ti% 274 33 87 52 89% wri KErie 18t pf. Krie 2d pf . Gureka Vac (). 3 14 Tala Co. (J10) Fed Minpf (7).. Federal Truck.. Flek Rubber. ... Flelschmn(124) Foundation (8). Fox Fiim A (4). 1 Snu (18) Gen Asphalt. (Gen Clgars (4).. Gen Elec (112). . Gen Kiec 8pi6ic) 11% Gen GaspfA(S) 113 Gen Motors (T16. 216 Gen Ry Sig 14% . 8% | Gimbel Bros Gitdden (2). iold Dust Goodrich R Gotham new Granby Consol. . Grt North pf (5) o1 Ore (1%) Grt Watn Su (3) Green Canan. ... Guantanamo. Gulf Mo & Nor.. GuM&NDI (&) 1 Gulf States 8 Hartman (B)... Househd (133%). Howe Sound (3) HudsonMan(3 % Hudson Mo(3%) Hupp Mot (1)... {ltnots Cen (T). Indep O11 (1). Interurbd Rap Tr. tnteont! Rub(1). Internat Agri. .. int Bus Ma (3). fnt Cement (4) . int Com Eng (3) Int Harvetr(8).. 1arMteh pf(2.20, 1niMer Mar pf.. 295 Int Nicke! (3) 368 Int Paper (8)... 684 ’ 2 el 344 14% 116% 28% 924 64 87 3214 69 475 165% 161% 681y 69% 43 14% ®17% 159 bt BY 42 1% 29% 124 22 14 | 116% 2874 292y 66 37 | 824 691 474 16644 [ 15 @ 1% 124 20% 11% : 11% i 143% | 368 (18 21% 50 97 104% 35 1767 129 | 29 n 8014 | 10615 | ITELA 120% 901 89 | 114 113 | 218 ! B8k ¢ b21 19% W0 | 50 ! 560 | 271 T8a} 210 1014 204 | T4 368 29% ! 484 405 25% | Vaoadium (3)... 264 26 | €2 i} 1o% | 1| 48! [ 52 s ! Al . | R Kayser J (3). Kayser pf (8) ly-8pring. I.ee Tire & Rub. Lekigh Val(3%) Leh&IMink stf(3) T.ife Sav (1.60). Tiggett & M (14) Tl &M B (14). T.iquid.Carbonie Loutsiana O1} LouisGasA (1.76) Lou&Nash(16%) | McCrory B 15.60. Mack Trueks (8) Macy H R & Ce Magma Cop (3). \tafison & Co. Manat pf (7) Man K Sup (6). Man Bl m g (d5) Man Shirt (13%) Maracatho ON. . Market St prior. Marland O1! (4), Viay Dent St (51 Mav Dpt 8 pf(7) Maytag Co (2) \fexican Beabd. . Mtami Cop (1).. \:1d-Continent Midland pf(+10) Min St P& 8SM. \i‘s Kan & Tex. Wissour! Paeifle \fissour! Pac nf \iontana Pow () Vontgom Ward. Moon Mot (3).. Mothr Lode (750} Motor Mot (3.60) ody . ... h Mot {13). Acme (sta). Nat Biscult 4% Nt Cash Reg(3) Nat Cloak & Suft Nat Cloak pf (1) Nat Dairy (3) Nat Dot Stores. . Lat Distillers. . Nat Ename! & S Nat Pw&Tt(80¢) Nat Bnpply (4). Nevada Cop (1) N Y Air Br (3) N ¥ Canners C1. NY Central (1) NY ChiAStL(11) NY NH & Hart.. NY On & West .. N Y Rvs 24 stpd Ntag F pf (1%). Norfolk South. . Norfk & Wn (18} Norf & W of (4) North A (83.40) North Pac (6).. Norwalk (30c). . Omatbus. . Onyx Hos (3.20) Otis Steel. S Owens Bot Pacifie Gas (8).. Pac Ofl Stubs. .. Packard (12.90). Paige Mot (1.0) Pan-Am B (6).. Pan.AmWnB(3) Panhandle Park & Tilfor Park Utah (60~) Pathe Ex (o3).. Penn C & Coke. . Pennsy R R (3) Penn-Seab Steel Peonles Gas (3). Pere Marq (13). Phila&RC&T. Phillips Pet (3). Phoen!x pf (1).. Prerce-Arrow. Plerce-Ar pf ( Pitts Coal pf. ... Porto Rico Tob. . Postum (5). ... Pub Ser N J (5). Pullman Co (8). Punts Aleg Sug. Pure Ofl (1).... Radio Corp of A. Ra p (25¢).. Resding (4 Reading ru Reading 18t (). Retd Ice Cm (3). Remington Type Replogle Steel. . Rep Ir & St1 (4). Reynolds Spngs. Rey Tobac B(5). Robt Rels & Co.. Roval D (a3.078) Safety Cable (4) Gt Jaseph L(13). ST, & SanFr (1) [t 1, Southwi §t L Swnof huite (§8). board Afr L. Seagrave(el.20). ars-R 0 (3%) Snell Ur (1.40).. Shubert The (5) Simmons(+2.35) Stmms Pet (1).. Sinelair Ofl. 40k 804 18 1 g South Port S (6) Sou Cal Edison. . Sou Dairles A(4) Southern Ry (1) Std Gas & El g3. 5td G & El p2(4) | Sta M1l (5) Std O N J (1).. Stewart War (6) Superior 8t (2). Sweets of Amer. Symington enn Copper (1) exas Co (3)... Tex Gulf 8 (19). Tex & Pacific. .. Tex& PacC& O The Fair (2.40). Third Avenue ‘Thompson (3.60) Tide W O1l pf(5) Timken (t5) Tobac Prod (7). Transcont OIl. .. Transue & W(2) U'n Bag & Paper. Un Carbide (6) Un O11 (2) . Un Pacifia r10Y. Un Cig St pf (7) Ctd Drug (8)... Tnited Fruit (4) Ttd Paperbd (2) USCIP&EF(10) U 8 Dintributing US Hoffmn 1374 . C 8 1nd Alcohol. U 8 Realty (4).. U 8 Rubber. . U 8 Rub 1st (3). S8mpf(3%). U 8 Steel (7).... 148 Universal Pipe.. 20% UtI PR LA (e2) 81 404 % 64% Vir-Caro Chem. . Vivadou (3) TWabaab. Walworth (1)... Ward Baking B. warner Broa. . .. W Penn E1 A (T) West P Popf(7) 114 Wast Maryland. 134 West Md2d pf.. 22 West Pag pf (6). 86% West Unfon (3) . 153 West A Br(t73%) 185% 284 gelf during August and 15% 425! major bull movement in raila termi- 111\= % . BY EDWARD C. STONE. Bank clearings for the five davs this week. with Labor day omitted. the corresponding period last week. the total for the United States being $6,688,124,000. Ten of the 23 largest cities reported gains, the improve. ment in New York being the largest. Outside of New York, the tof is $2.681.124,000 a decline of less than 1 per cent. Citiea showing a loss this week include, Chicago, Philadelphia, | Pittsburgh. Baltimore, 8t. Louis and severa! of the other Central and Southern cities. B Business in the first week in Sep tember, as measured by the volume of ! check 'payments, still continued io |record increaged activity over a vear |ago. accordifiz to the weeklv state- | ment of the Department of Commerce. pared with the previous week and a year ago. Business failures for the first ‘week of September were more numerous than either a week ago or a year ago. After sight consecutive mountha of decline Dun's index number for Sep- tember shows an advance. vise is/only trifiing. being but 0.3 per cent, and the general price level con- Hnues to he considerably below that of a vear ago. Farmers Still in Hard Luck. The pligh! of the farmers in the Middle West appears to be showing little improvement, aocording to a letter recelved by a Washington banker. “Oats are now selling for 22 cents a bushel that.it cost #0 cents a bushel to raise.” the letter stated. The heavy rainfalls are the cause. 1n some Instances the oats have sprouted in the stacks and in many cases it has been impossible to gt them threshed. Corn is also re- ported to be backward and only warm weather and late frosts will make possible good vields and financial re- turns on this very important crop. | Rain was needed but in ne such huge proportions as the weather man sup- plied. Moody Reviews Market. Moody's Weekly ‘Review of Finan- Conditions says: “Bond prices have lately risen 1o the previous high levels of this vear. | Probably the advance represents, in * | part, the Autumn buying for invest- { ment and, in part, the large supply of {funds which almost alwavs shows it- the early ci: | | ' portion of September. “In the stock market f the special | reature s the strength in rails. It I ihas been the habit of the rafls for 9| many vears to show xreat strengtl: 7% ! quring the latter stages of an upward swing; and meantime tha last reallv 2 | nated in December, 1908 Sincs then show an increass of 1.4 per cent over | Wholesale prices declined as com- | New York Improvement Being'Greatest. ! ‘ Local Financial Notes. | |all upward movements therein have been relatively minor.” Relative to the automobile industry the Alexandsr Hamilton Institute During the first six months of 1326 General Motors produced 621,700 cars against 387,100 in the first half of 1926, & gain of 63.2 per cent. Oakland sales increased 94.4 per cent, Cadillac 73.5 per cent, Buick 53.1 per cent and Chevrolet 52.1 per cent. The figures sSugg: that part of this gain in the business of General Motors was made at the expense of some of the other companies. The total preduction of all companies increased 12.3 per cent. As against this rate Hudson-Essex gained only 9.2 per cent. while Willys- Overland decreased 8.8 per cent. Studebaker 11.3 per cent and Ford 13.2 per cent. Among the companier ch {ncreased production were Nash-Ajax §8,4 per cent. Dodge 72 per cent, Chrysler 33.6 per cent, Star 30.2 per cent, Hupp 16.5 per cent and | Paige-Jowett 16.1 per cent.” | Vearbook Has Surplus. It is announced that the vearbook. “Doliars and Sense.” {ssued by Wash- vith a surplus this year for the first time. For their unusual success great credit is due to the staff which pub- lished it and which was composed of Miss Lois A. White, Norman E. Tow son, William M. Rankin, jr.. George Shisler and H. M. Turner. with F. P. H. Siddons as business manager: George McClennan. E. C. Steffe and W. T. Van Doren, assistant managers, and H. H. Darneille, eirculation man- ager. L Personal and Other Notes. ‘l. F. Schneider, jr., treasurer of the Continental Trust Co., has re- signed his position to devote his entire time to his real estate interests. John D. Crowle, jr., a. director of the Planters’ Bank at Staunton. is spending a few days in Washington visiting John B. Cochran, president of the Franklin National Bank. Mr. Cochren is also president of the Staun. | ton bank. Harry MoKee, president of the Na- tonal Cupital Bank, will be among the local bankers attending the con- vention of the American Bankers' As- sociation at Los Angeles next month. He is a very valuable member of the Rssociation, as he keeps in the closest possible touch with all matter relat ing to banking legislation. Preparations ara being made by Dil lon, Read & Co. to make a loan of ap- proximately $30,000,000 to the German Siemens group. The issue, it is under- stood. will have a participating fea ture and will be offered around par. Three-quarters will be offered in this market. ‘The dividend just paid by the Penn- sylvania Railroad was the 176th con- secutive disbursement of the kind which the company has made. % TRADE GOES FORWARD. 1141 264 | 1% | 674 | 6 Speeding Up of Industry Noted in 534 | confirm n 1261 ¢ 105 | 485y 80 | 99:4 | Bradstreet’'s Review. NEW YORK, September 11 (#).- | Bradstreet’'s savs: Reports this week earlier advices of the | markedly forward progress in trade {and the even more pronounced ad- | vance in industry during the latter part of August and the first davs of September. With the close of the vacation sea #on nnd the opening of the schools retall buving has held its previous ins and expanded still further, while ahditional reports from industries, out- side of building, show a further speed- ing up of operetions, this more espe- clally in cotton-mill work, shoe fac- tories. ingot steel production and au- tomobile output. N Wholesale and retail distribution has been further aided by State fairs, expositions and other public shows, although the latter have been handi- | capped by heavy rains. especially in the Central West and Northwe Weekly bank clearings, $7.132.- 8,000. > LUMBER SHIPMENTS GAIN. NEW YORK, September 11 UP).— A ‘slight decrese in production and a moderate increase in shipment were | veported by the larger soft wood lum- ber millg of the country for the week ended September 4. Operations of the ! hardwood mills for the same period indicated little change in the volume of production and mew businese. RAW WOOL ACTIVE. | BOSTON, September 1! (Special).— Raw wool prices held within the re- cent range today. but the market was exceptionally active, with practically all grades in good demand. active August buying movement has continued into the current monthand dealers interpret this as a forecast of a busier Fall flllln usual. SERVEL PROFIT LARGE. NEW YORK, September 11 (#).—A profit of $716,219 is reported by the Servel Corporation on its sales of elec- trical refrigerators for the first half of 1926. After depreciation and charges. but before the payment of Federal taxes, the net profit stood at $437,394. MAY RECEIVE RIGHTS. NEW YORK. September 11 (#).— Stockholders of the A. M. Byers Co. shortly are expected to receive rights | for the purchase of either common or preferred stock. Increases in both issues recently were authorized. Pro- ceeds from the sale probably will be used to retire the company's funded debt. POTATO MARKET WEAK. CHICAGO, September 11 (#).—Po- tatoes—Receipts, 106 cars; on track, 127 total United States shipments. %65; early trading good but slowed up later; market weak, prices declin- ing: Wisconsin sacked round whites. 2.65a2.80; few early Minnesota sacked early Ohlos. few sales 2.50: TIdaho sacked Rurals, 2.85a3.00. —————————————————— Westinghse (4). Weston Elec | weston A (3). 65y 26% Whil 577 White Roek (2). 274 wickwire ctfs. .. % willys-Overland Wilson A (new) WoolwthFW (16! 162% Worthn Pump.. 28 Wright Aere (1) 824 Yale&Town(t5). 70 Yel Tr& C (72¢). 34is ungstown (4) 88 a8 given in the SRS yoar] B noted. extrs or 28% 20% n.” g at *Partly 3 in corsmon stock. bie 1% quarterly. this ear—no regnlar comnion stock parabl Be i 8lock. GPAY; le in sPlus S SR extra nales higae: | $Payable ock. mk.;:’."a 10% frr' . cPius ‘RETAIL TRADE GAINS. Stores in Baltimore Running 8 Per Cent Ahead of Year Ago. Special Dispateh to The Star BALTIMORE, September 11.—Re tall stores in the Baltimore district | are doing a larger business than they did at this time a year ago. August sales were nearly £ per cent greater than they were in August.’ 1923, and that rate of gain has been maintained thus far in September. Merchants continue to buy in com. paratively small quantities, but re. order frequently. Prices are lower than they were a vear ago, but intro- duction of economies has been effec- tive {n maintaining the margin of profit. . Outlook for holiday trade this year is described as even more promising than it was in 1925, which, it will be recalled. was one of the most pros- perous periods business interests ever realized. MISSISSIPPI CENTRAL. NEW YORK, September 11 (#).— The Mississippi Central Power Cor- poration, recently incorporated in Bal- timore, is reported in Wall Street to be designed as a holding company for the consolidation of several prop- erties now controlled by the Electric Eond' and Share Co. Among tie companies in that region owned by Electric Bond interests are‘the Arkan sas Light and Power Co., Louistana Power and Light ¢ and the Mis siasippi Power "Ser;(lcmb.r 11 (Spe ank clearin 818, 000,000; New York bank hl.hng:a.'fll. 000,000; New York Federal Reserve Bank credits, $76.000,000. S BUTTER IS FIRM. NEW YORK, September 11 (#).-- Butter—Firm; receipts, 9,790 tubs; j creamery higher than extras, 44%a ll ; do., extras (92 scors), 43%ed4; do., firsts (88 to 91 score). 3915a411 cial).- e L e FOREIGN EXCHANGE. NEW YORK. September 11 (#).— Foreign exchanges firm. Quotations in cents; Great Britain, demand, 4851;; cables. 4855-8; 60-day bills on banks, 481 France, demand, 2.90: | cables, 91 Ttaly, demand. 3.61: cables, 3.62. | Demand—Belgium. 2.14; Germany. 128.81%; Holland. 40.05: Nodway, 26.56 | Sweden. 26.13: Denmark, 1B erland 21 Spain. B | Greece, 1.16%: Poland. 11.25: Czecho- | slovakia, < Brazil, 15.15; Tokio, 48.311; . 69.00: Montreal, 100.14 1-16. i . SILVER QUOTATIONS. NEW YORK. September 11 (#) - Bar silver, 61%: Mexican dollars, 47 COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY ATLANTA, September 11.—Textile men of the Southeast report that spin- ners are declining orders near Sum mer price levels and that stocks of varns have been sold®to the lowest Most mills are pre: e full time operations. | ! DETROIT. Michigan Net returns from the gasoline tax for July reached new high record, totaling [$1,086,028. The largest previous net ;colhcthn in any one month was $977,- {010. Estimates place total collections for 1926 at $10,000,000. BRIDGEVILLE, Del.—More than 1300 carloads of peaches have been shipped from this station so far this season. The fruit, of good quality, grew in greater profusion than in years, and brought good prices. BOSTON.—Current orders of the Walworth Manufacturing Co. ars run- ning 23 per cent ahead of last vear. according to President Howard Coon. ley. About 23 per cent of the product into bullding goss operation and The g‘nnon Chapter, A. T. B., came out Lib 24 4% Tab3d 4%s. Lib 4th 4% UB3Ys.. TE4n1s US4%ssbr. 25 &1 L 5 18 Bank of Chile 63s Bank of Japan Relgium 6 Reigium 64s. Belgium T, E£olivia 8s. Bordeaux Biaxtl 7¢ . Belglum T%s Brasil §s. Christiania 6s. . Con Pow Japan 7, Copenhagen 5% 8 Czecho 7% rots. .. Crecho 8s 1953 ct. . Danish Munie 35 B Denmark Dutch East I Dutch East 1 68 Finland 7s Framerican 7% French 7 French 7% French $s.. German EI P ¢% erman 7s. ... Gar Agr Bank 7 Ger Hungary 7%s Queensiand 6s. Rhinelba 78 wi Rio Gr Do Sul 8 Sao Paulo City Saxon (P™) Ts Seine 7843... Serba Crot Slo % Sweden 538 ot. ... Utd Kingm 5%s 27 MISCEL Am Smit & R 1st AmSmit& R Sao Paulo 851936, Am Agri Chem T3%s 16 100 21 100 19 100 19 1013 1012 1015 1029 1027 1027 101 14 101 14 101 14 2108 26 10% 19 103 19 10718 10715 107 16 FOREIGN. Sales. High. Low. Closs. 9215 9.4 29K Yo% " W 994 100% 100% 8% 98% 1024 102% 95% 957 100 100 267 87 92% 927 96% 964 108 103% 88 89 95 954 1081 1084 10415 104's 106% 1054 101% 101% 39 : 1107 110° 104 104's 105'% 105'% 105% 106% 99 99 9% 94a 93k 9sm 984 987 1037 104 98% 93% 106 105 107% 107% 84's 84% 99 99 101% 101'4 101 101% 93% I83% ¥0'4 80% 904 H0's 894% 80k 100 100% #9490 101% 101% 105% 106% 108 108 104% 104% 105% 105!5 105 105 98% 98% 90% 90% 93% 93% 104 104 106% 105'4 103% 104 113% 1134 % 95y 76 16 11844 118% 104% 105 LANEOUS. 106 104% 104°s 100% 100% 100% 1084 108'% AmT&Tecl trds.. AmT&Tsf AmT& T deb s Am Water Wks 974 98 100% 100% 105% 105% 974 97Ty | Anaconda 13t 6 | Anaconda cv db 7 Andes Cop 7s rots. Armour Del 53%s Assoclated Ofl 6s. Barnsdall 6s ctrs. Bell Tel PabsC. Bkiyn Union 6% Chile Copper Col Gas & El 68 Cuban Am Sug Denver Gas Det Edison | Lackawa S 58 50. | Liggett & Myers Louisv G & E 53 52 Midvale Steel N Y Eoison 68 44 NYGELH&P 4 4% Pac Gas & EI Pac T& T 6s 82 Pan-Amer Pete PhilaCorf s A. | Plerce-Arrow 8i Public Serviae 6 Pub Serv Elec 6s P Serv Gas 5% s 64 Skelly O11 63 Southwest Bell bs. Sug Est Odient | Tenn Elec Pow Toledo Edn 1st US Rub istrf U S Steel s £ bs. Utah Pow & Lt 8s. | Vertientes Sug 7s. Warner Sug 78 39, | Warner Sug 78 41. ‘West Elec b Westinghouse 7s | willys Ov 6348 33 | wilsen | Youngate 8 & T ¢ Am Writing Pap ¢» Armour&Co 4% s rf Bush T Bldg 58 60, % Manat! Sugar sf 7% 18t 6s. 58 58 108% 1032, 10615 1064 107 107% 0% 90% 9816 9dle 108 103 98 984 1026 107% 97% 97 o @ - Z xSulrnanunn~a @ 100% 100% 157% 157% 106% 10C% 1004 1003 106 105 105% 10574 100% 101% - e S LT L T LT TL P e -~y 107% 1073 95% 95% 97% 98 105% 105% 103 103 106 106 102 102 102% 1 4 10215 1 967 89 974, & 100% 109% 109 1020 1031 951 99 100 101 9% 694 99 99y, 96% 100 100 100 100 101 103 1064 1061 108% 1045 110 110 1034 1034 2 10615 106% . 104% 1047 108 108 91 91 9215 934 140% 140% 102% 1024 9R 98 105% 10515 107% 107+, 93% 93y 106% 106% 9% 974 .12 l22 3 104% 104% 1025 102's 9815 984 104% 104’5 104% RAILROAD. | Bklyn Manhat 6 | Canad Pac deb 4s. Cent of Ga 5% s Cent of Ga 6 CM& St Fovb Cht & Nw 7, Union Sta $%s. 1 | Car Clinch £ 0 5s.. | Cont Pac 1t 56 90.. | Chi & Alt 3%s otfs. CMASIP r 438 cf1d 9% 9215 92, 961 984 . 2 102% 105t 106% 1074 9l 91% 100% 100 06% 964 83y 85 1024 102 . 103% 104 : 102% 10274 100% 1014 58 68 10 41 .12 CMA&BP ov b= ofs 14 20 Chi& NW 4% 87... 100 | 2 04 % T4 3 1184 118% 118% Clev Term & [ Del & Hua's s . | Den & Rio G cn | D Rio G West 163'% 103 1084 | 1034 | a0 | Erle gen 4 | Erleconv 4aA. Erfe conv 4s B. | Erleconv4sD... Fla E C 58 7 Great North 5% Gr North gen 78 Flud & Man ref 11l Central ref 4 111 Central 5%s. 111-C-C StL&NO § Int Rap Tran nt Rap Tr s stpd. nt Rap Tr nt Rap Tran 17 Tnt & G Nor 1st Int & G Nor ad #; Kan City Term 4s Lake Shore 4s 31. Lehigh Valen 4 Loufs & N uni 4s Louls & Nash 7s Market St 72 40. M1 F) Ry & L fa. . M&EStListrfdn.. \1StP&SSMEs3setd MStP&SSM €%a. MK&T st 4 MK&T4sB.. MR & T adf 5. MK&Tprinsa. Mo Pac'fic gen 4 Mo PacBsde D, Mo Pac 6s S5 K. .. Mont Trm ref 5= 41 NOTex& M inSa. NOTex&M5aB NOT&MBUN N Y Con gen 314 0% 7 . N Y Cent 4s o2 N Y Cent deb 4a NYCentriba .. NY Cent LSeldigs NYChHI&RIL G144 . NYCHASIT, 4 eB. NYCAStL6nA. New Havanc d én. N'Y Ont W iat 48 N Y Rradags. NV State Ry 4% NY W8 Bos4y Nor & §'zen b8 Northern Paer 1 ¢ Ore & Calff 1t 6n Ora Short I, rfa 4 Ore Short T, en §a. . Ore Wash Tat vt 43 Pennsyl con 4% s 951 104, R4 101% 102 107 % 102% T3 29% Lai 7% 88 1 Pennsvl 5 64 Pennsy! 6344, . Pennsyl rold Ta. Peoria & F. ine 4a Pere Mara 1at Bs. . PCC &St L bs B 18 POrt RL & P f» 42 RIATKA L4y St L IM&S 4n 29. StL&SFplisA. StL&SForins StL&SF5%sD St L& S F adf St L& S F inc 6 StLS W st 48 San A & Arn P s, Seaboard A L 4s Seab A L ref 4s Seah A L adf Seab A L con Sou racine rer s o - PonRnan—naaBuasS-nad Term Asso St L 5. Third Ave ref 4a. .. Third Ave adj & Gnton Pao 18t 4 Union Pac 1at rf 48 Union Pac 48 37 Union Pac ov Virginia Ry 1, Va Ry & P & Wabash 1st Wabash 5%s 75, West Maryland 4a. Whel & LErf 4)4s Wilkes & E 18t bs.. Wisconsin Cent 4 A 714 5 83y WILL FORM COMBINE. NEW YORK. September K. S er 11 - Reports reaching the financia :"‘;". bination to control the manu of benzine from lignite wil] Rf\an‘;l‘";x; eftecled by the Standard Ol ¢ or New Jersey, the Royal Butch Shell group and the German Gasoline (o a former Stinnes subsidiary. Stard ard Oil Co. officials recently admitteq their interest in new processes o produce synthetic fuel. but denieq that any agreements had heen con cluded with German fArme i e SUGAR DEMAND LARGE. NEW YORK. September t E 1m G Recent strength af (he sugnr spnoee | reflects the improvement in the susgs, | Industry. Spot raw sugar is now cur! jIng 2t r'm-h highest prices of the vy json and the current demand for t product is reported nmusualty iny e due to the canning season i RUBBER IS STEADY. NEW YORK. September 11 (8 —Crude rubber, s | ecrude rubber. mmoked ribbed sheets ‘ULHOI! of 401, This compar Vi 38, & month ago el i and 80% a year ago. DIVIDEN;JS. Pe riod. Rate | | Par- Stock of able 4 o recorc. 2006 33333 | Gos 170 'Ilnuu‘ t pt n %';‘qutc& | Hen :éhbvwcs:rv H [ EWie 81 Duke Pow 'Co & &ca 2R & 1DaRNDD. EEEFEEREET B RS D f . | phben i | B ! Srata Bank G & wn mEasamman== s::‘ §3¥ o) bt GRS e et Gh A e Ga 2 ann A PEREFEESSLEES an e 22 Do. | Un Dyewd pf. | W El Inst A | Witien Ov pf Pl Cohou: Do’ 2d pf.. 871, Oo | “Pasable 1:40ih Shars s A stk BOSTON STOCK MARKET. BOSTON, September 11.—Following (18 a list of today’'s highest, lowest and closing prices for the most stocks dealt in here: Amoskeag ... | Bieelow Baritord | Boston' Elevat Hoston & Maine Sttt ey Ssieasters &+ ¥ 3 3 o 8. 32505 Yot P his 43 & #38.8255% s | extraordinary | were well maintained throughour t « | the week of 11t trict from Berlin indicate that a com. | again at today's quo- | 0 | pound, 4la45. prints, 5 | Paris. 5 | Brussels. | Barlin mark - 3 Dealings on Smaller Scale. Italian Issues Firm. Some Qils Heavy. BY GEORGE T. HUGHES Special Dispatch to The sta NEW YORK. Sepiember 11 —For- . eign bonds siill absorbed a large - Dart of trading attention at the closa s of the week Dealings were not an A4s large a scale as vesterda). when the ltalian govermnent ie had thatr turnover. bur pr E list. ltalian issues kepi their gain and %o did most of the French honds Japaness K1, came to the fremt. crosaing 9% for the first time thia-* €q G provided the real featura ? f the session. .Jugoslav fs were up a haif point also. showing that what Wwas R0iNg on was a search for at her ihan specu V.\‘Hnn based on improved conditiane abroad In the domastic lisi there was no nniformity of movement. Some of - the ofls were distinctly heavy, among ,: (them Barnsdali s, which got down {10 9% compared with the high on the preceding dut of 99, On the other - hand Sinclair Pipe Line bs wers - strong. making a new high at 93 S_Ar'h Oil 818 which the conver o | #on priviiese e<pires September 3 next. aithough 1 s do not ma | rure untit a ce. sold just ahove | 141. compared high “earlfer {n | Sinclair 7s were off | tractionally. There was fairly heavy | trading in General Petroleum 3< | without much change in price. An ladvance in Punta Alegre 7s was the ** | feature 4n the sugar movement. The | International Mercartile Marine #s railied fractionally. Internations! Telephone and Telegraph 6%s fell off with the stock. Although allotments of the new | per cent certificates of indebtednes | have not been announced a marks | for the bonds was being made teds by dealers on a “‘when issued” hasi- [at 90 8132 bld. offered at 100 13 ! Listed United States Governmen: « | ligations were practicallv unchang- | today. . WHEAT PRICES DROP " ON OFFICIAL REPORTS . U. S. and Canadian Estimates Ar~ Construed as Bearish—Corn Values Are Firm. | | | By the Associated Press. CHICAGO, September 11.—Whea values took an early swing down grade today following publication of the United States and Canadian go ernment crop reports, which wer | construed as bearish. After startin: | % to 113 lower. wheat underwen! slight recovery all around. Corn d - {played a firm undertone. Starting ' to 8 off. the market later scored slight general rise. Oats showed dependent strenzth and provi were steady, in line with hog value: The estimates on the United Star- {and Canadian crops as set forth i1 the reports of vesterday will have a: fmportant immediate bearing or, wheat values. traders said today. Tl Washington report was onlv slight]: lower than expected, while the Can: dian figures were about as expectec The combined reports indicate 156 1 000,000 bushels more wheat for Norii | America than last year. The Canadian estimate of 330,000 | 990 bushels for the three provinces with the July 1 estmiate of 236.000,00: bushels, led to a rush of seliing o’ | wheat here at the outset. On | downturn in values, however {market met with stubborn absorp | tion, which brought about a quick re | action from the low points There were scattered rains in | Prairie provinces yesterday with - | forecast of probably showers for Man | toba today. A report from Alber said that harvest conditions were pa- alvzed because of wet weather, marn flelds being flooded and citfes fillai | with unemployed laborers. i Weather over the major portion { the corn belt is not such that the eron { will hasten to maturity during next few weeks. Private reports. hoo | aver. show no rain in the belt with temperatures somewhat higher than | vesterday. Baltimore Markets BALTIMORE, September 11 (Spe clal).—Potatoes, barrel. 1.30a4.50, 101 pounds, 1.25a3.00; sweet potatoes, ba | rel, 1.50a3.75; yams, barrel. 1.00a2.5¢ beans, bushel, 1.25a1.30; heets. 0" 2.00a8.00; carrots, 100, 4.00a6.00. eal ery, crate, 1.50a2.50; corn, dozen, 102 | cucumbers, basket, 76a1.50: egg | plants, basket, 40a60; lsttuce, bo: | 1.00a2.25; 1ima beans. hushel. 2301 { 3.00: onfons. 100 pounds, 7 1.00a1.7 | peppers, basket, 25a30; squash, baske! 25a50; tomatoes, basket, 30a60: pack | ing stock, bushel, 75a90. | Apples, barrel, 1.00a2.50. bushe! 41 {al.26; cantaloupes, basket, 25230 crates, 86a1.00; honeydews. 1.5022.2" peaches. bushel, 50a1.25; pears. ham per, 35a75; huckleberries, quart, !0a 15; watermelons, 100, 5.0025.00 Dalry Products. poultry—8pring chickens. 5a29; leghorns, 23a26 old hena leghorns, 20; old roosters, 20 26227, old ducks, 1820 20a30; guinea fowl | Live ! pound. | 20a30: duck: Eggs—Receipts, 400 cases, native and nearby current receipts offared at_38a39 Butter—Good creamer: 45a47; blocks, | 44a46; ladles, 30a3l: rolls, 28a30 | store packed, 28: dairy prints, 28a30; ! process butter, 35a36. to fancy POREIGN EXCHANGE (Quotations furnished by W.B. Hibbs & (- Nominal Selling cha gold value London. pound 065 $6.86 loniresl. dollar. ... 1 = franc franc Iira. iaiar 3285333 PR332 3 0. crown Stockholm active | FEDERAL LAND BANK BONDS. (Quotations by Alex. Brown & Sons. C) 0,‘"] ta—Maturity $esor |="'.»32 = Bt apticats [ R 2832232222