Evening Star Newspaper, September 12, 1926, Page 98

Total FI NANCIAL NEW YORK STOCK EXCHANGE WEEK ENDING SEPTEMBER 11, 1926. sales. ... . Same period a Sear ago. - 102526 160%% 100 a4 60t 334 28% Low. 62 43 10 47 7% Stoek and dividend. Abitibi Power & P (4) Abraham & Straus. Advance Rumely Advance Rumely pf (3) Ahumada Lead (11). Air Reduction (5). Aj,nx Rubber bany Paper pf (7) AII American Cables (7). Allied Chem & Dye (4).. Allled Chem & Dye pf(7) ‘halmers Mfg (6) s-Chalm Mfg pf (7). Amalgamated Leather. Amal Leather pf (7). Amerada Corpn (1.60) Am Agricultural Chem, . Am Agriculturl Chem pf. % Am Bank Note (1.60). Am Beet Sugar. . Am Beet Sugar pf (7). Am Bosch Magneto. ... Am Brake Shoe & Fy (6). Am Brown Bov Elec (2). Am Brown Bov ELpf (7). Am Can (2). Am Can pf (7). 4 Am Car & F u-mdry 46) % Am Chain Class A (2 . Am Ilide & L Am Chicle (3)..... Am Chicle etfs (3) Am Chicle pr pf ctfs (7). Am Druggists Syndicate. Am Express (6)... Am & Forelgn Power. ... Am & For Power pf (7).. Am Hide & Leather. ather pf Am Home Pr (2.40). Am ice (110). Am Ice pf (6 « Am International i Am LaF Fire Am Linseed. Am Linseed p! Am Locomotive (8). .. Am Locomotive pf (1) Am Machine & Foundry . Am Machine & Fy pt (7). Am Metal (4). ceenene 4 Am Pano pf (7 Am Power & Lt (s1). Am Radlator (4). Am Railway Am Republics Am Smelting & Refin (7 Smelt & Refin pf (7). eel Foundries (3) Am Stl Foundries pf (7). * Refining (5) . Refining pf(7). 1 lesrh & Cable (5) Am Tel & Telegraph (9) Am Tobacco (8) 4 Am Tobacco C1 B (8) 4 Am Tobacco pf (6). Am Typefounders (8) . Am Typefounders pf (7). Am Water \\'urk<(c1 20). Am Woolen Am Woolen pf (7). ¢ Am Writing Paper pf. s Am Writing pr pf ctfs. Am Zinc Lead & Sm.. Am Zinc Lead & Sm pf ‘Anaconda Copper (3) Archer-Danfels-Midland. Archer-Daniels-M pf (7). Armour&Co of Del pf(T). Armour & Co of 111 (A). Armour & Co of TH (B)... Arnold Consta *Artloom (3).. Bane Assoe Dry Goods ( Atlanta Birm Atlantic Const L(19%).. Atl Gulf & West Indies. . Atl Gulf&West Indies pf. Atlantic Refining pf (7). Atlas Powder (4) u-hrm pf (7 h]\\‘u lu i & Ohio & Ohio pf (4. ... r & Aroostook (3). r&Aroostook pf(7). t Leather . rsdall CLA (2). rnsdall C1E (2). notive (7). fanhat T pf (6). Union Brookn- Brookn 4 Brown Shoe (2) ; Burns Breth 4 Certain-tees .(‘ Bruuswick-B Brunswick T Buff Rogh & Pitts . Buffalo Roch & it pr(6). < CLA(10). Rurns Brothers CI B (2). Burr Adding (t0) Bush Terminal. .. Bush Terminal deb (7) Butte Copper&Zinc(50¢) . Butterick Company 2yers (A M) -Products (2)... £ ) ~alifornia Petroleum (2) lahan Zine & Lead. ... Calu nada Dry nada Adian Pacific (10). hresh Mach Central Leather Co Cent Leather Co pf. Central R Rof X J (+12). Century Ribbon Mills “erro dePasco Products(4) -tdProd 1st pf(7) Prod 2d pf (7). ke & Ohio (112). > pf (6%3). lton. . 2ep Great Western. . West pf Chi Mi1 & St Paul pE. .. 1 & St P ctfs of dep Chi M&SL P pf ctfs of dep Chi & Northwestern (4). reumatic Tool (5) Chi Rock Island & Pacific. Chi Rock Is] & Pac pf (6). Rock 18] & Pac pf (7). Childs Co (12.40). Chile Copper (2%) « m»ucl,m“nuonno) Shrysler Motor (3) . ysler Corp pf (8) ve Cin Chi & § uett-Peabody “luett-eabody pf . 1a (1) s & Atkman. Collinx & Aikman pf (7 Colorado Fuel & Iron. Colorado & Southern. . Tast 7.269,: 21'{ Sll 558 523 *6.291 063 281.704.125 122 91% 121% b1z o8 32 34 3015 31% 146 147% G 122% 122! 105 60 3315 8618 4012 104 5 11% 44% 101 100 2 3 It 4414 . 104 838 1144 66% 914 10474 1083 115 *115 162 160t 51% B0 11 110 48% 44 0% L+++1 1 bl L1 1+101 T4+ 1021, 102% - zl Average price of 50 stocks. Same period a year ggo. .. _— Wesk. 37 71 l35 90 ~1925--26~ 15% 48% 60% 641 84% 102 62% b4% 89 33% 20% 107 1056% 59 49% 35% 110 183Y% Low. 144% 103 Continental Insuran (6).. 139% 136% Stock and dividend. High. Low. Close. 137% 114 43% 48% 25 72% 100 854 8% Continental Motors (80e). 11% 82% Corn Products Ref (13%) 8% 443% Coty Inc (4). 25 Crex Carpet. Crucible Steel (5). Crucible Steei pf (7). Cuba Cane Sugar. Cuba Cane Sugar pi Cuba Company (4). Cuba R R pf (6). Cuban-Amercan Sug (1), Cuban-Dom Sugar (new) Cudahy Packing (7) Cushman’s Sons (3) Cuyamel Frult (4).. Davison Chemical. i De Beers Mines (al.21) Deere & Co pf (7). Delaware & Hudson (9).. Delaware Lack & Wn (17) Denver & Rio Gr West pf. Detroit Edison Co (8).... 1 Devoe & RayndsA(2.40) .. Dodge Brothers Class A. . Dodge Brothers pf (7) Dome Mines (2). Douglas Pec (2) Duluth So Shore & At1 pf. Dupont de Nemours (14). Dupont debentures (6) ... Duquesne Light 1st pt( % Eastman Kodak (18). Eastman Kodak pf (6) . 5 Eaton Axle & Spring (2). Eisenlohr & Bros Eisenlohr & Bros pf(7 4 Elec Auto Lite (16%). 4 Ilectric Boat Electric Power & Light 4 Elec Pow & Light pf (7). El P&L pf ctf 40% pd(7). Eiectric Refrigeraon(f2) % Electric Storage Bat (76) Endicott-Joanson (5) . 5 Endicott-Johnson pf (7). Engineers Public Servic Engineers Pub Ser pf (7) 95 b‘qult.me ot mdx pf (7). 126% 34% 43% 3 41t EurekaVacuum Clean(4). 52% i Exchange Buffet (1%3)... 15 2 Fairbanks Co 5 Fairbanks Morse pf (1) Famous Players (J10)... Famous Players-L pf(8) . Fed Lt & Trac (*1.40) Fed Mining & Smelting. . Fed Mining & Smel pf(7). Federal Truck. % Fidel Phoenix F Ins (6) First Nat Plc 1st pf 19.44 First Nat Stores (1%) 3% 3% 110 110 116% 118% 120% 119 343 32% 80 80 76 4% 83%/ 324 196 195 10814 1035 83% 31% Fisk Rubber T8¢ pf 6v(7) Fisk Rub 1st pf stpd (7). Fleischmann Co (12%) Foundation Co (8). . Fox Film Class A (4). Freeport-Texas. ... 4 Gabriel Snub (13). Gardner Motor. ....... Gen Am Tank Car (3). Gen Asphalt. . Gen Aslmalt‘pf @) s & Elec A (E1 as & Blec 7% pfA.. Gen Gas & Elec 8% pf A. Gen Gas pt B (7) General Motors ( Gen Motors deb (6) . Gen Rwy Signal (143%) Gimbel Brothers. Glidden Cotupany Goodrich (B F) Co (4) Goodrich (B F) pf (7) Goodyear Tire&Ru pf(7). Goodyear T & R pr pf(8). 4 Gotham Hos new (214) Gotham Silk Hos (2% Gotham Silk Hos pf (7). Gould Coupler C1 A (2). Granby Consolidated. Great Northern pt (5)... Gt North Ore ctfs (1% ) Greut Western Sugar (8). Greene Cananea Copper Guantanamo Sugar... (ulf Mobile & Northern. . Giulf Moblle & Nor pf (6). Gulf States Steel (5)... i Gulf States Steel pf (7) Hanna (M A) 1stpf.. Hartman (B) Hayes Wheel (1314) Helme (G W) (16%)... Hocking Valley (112)... Hoe (R) & Co Class A. 4,Household Prod (13%)... 4 Houston Ofl. . Howe Sound (3). % Hudsen & Manhat (2%) Hudson & Manhat pf (5). Hudson Motor (3%) 4 Hupp Motor Car (1). Tllinois Central ( Central pf (6).... Independ Oil & Gas (1)... Ind!au Motorcycle (2) Indlan Refining. .. ... Indian Refining ctfs. Ingersoll-Rand (14) Inland Steel (213). . Inspiration Copper ( 5 Interboro Rapid Transit. Intercontl Rub (1).. Internat Agricultural. Internat Agri prior pf(7). Int Business Machine(3) Internat Cement (4)..... Internat Cement pf (7). . % Internat Comp Eng (2).. Int Harvester (6). Int Harvester pf (7) Internat Match pf (3.20). Internat Mer Marlne. . Internat Mer Marine pf. . 4 Int Nickel (2)......... Interpational Paper (2) Internatl Paper pf (7). Internat Tel & Tol (6) Intertype Corp (11%). 4 Jewel Tea Jones & Laughlin pf (7) Jordan Motor. .. 1% 170 105% 105% 47 47 29% 28 30% 298 78 City South pECo. Kavser(Jullus)& Co(3). a2 Kennecott Copper (4) . Kevston:. Tire & Rubber. Kiiaey (G R) Co (4). . Kinney (G R) Co pf (8) Kresge S S (1.20) Kresge Dept Store: Kresge Dept Stores pf(8). & Laclede Gas (8)... 4 Lago Of. & Transport. Lambert Co (3% ) Lee Rubber & Tir Lehigh Valley (3%). % Leh» & ¥ink (3). Life Savers (1.60). .. Liggett & Myers (14). 52 Liggett & M CIB (14). Lima Locomotive (4). Ligutd Cardonie. . Loews Inc (2) Loft Inc. Long-Bell Lum CI'A (4). Loose-Wiles Blscyit Loose-WilesBis 2d pf (7). Lorillard (P) Co (§2 Loulsiana Oil Refining Louisiana Oil pf (7). . Louls Jear to Date: Low. ligh. 139 16 109.63 124.24 101.96 FLILLI+I+++4110141 S RFe L E 1+ L] Pt e+ 1441 PO+ L+ttt + 1 e B E SR S B 1510 STOCKS TREAD DOWNWARD PATH AS READJUSTMENT CONTINUES Nothing in Day’s News to Explain Selling. Rails Better Supported, But Numer- ous Losses Are Recorded. Truck and Hudson about a point. Despite the explanation that the drop in unfilled orders last month was due to increasing shiprients rather than to a reduction in demand, United States Steel common was in supply most of the session, dropping 1% By the Associated Prese. NEW YORK, September 11.—A further downward readjustment of quoted values took place in today's stock market. There was nothing in the day’'s news to explain the selling movement which appeared to be a correction of the weakened technical position resulting from the recent rapld advance in many issues and thelr improper distribution. Public participation was on a small scale and operators working for higher prices showed a disposition to restrict com- mitments until after the third quar- terly income tax dividend and interest payments were out of the way. Bear traders succeeded in forcing the liquidation of large blocks of mo- tor shares, basing their selling on the belief that recent price cuts would be reflected in lower earnings and.that increasing competition among the large manufacturers probably spelled disaster for some of the smaller com- panies. Studebaker was an excep- tlon, closing 1% points higher, at 601, with buying influenced by re- ports that a new banking group had become interested in that stock. Gen- eral Motors broke 3 points, to 212%, and then rallied slightly, and Yellow each ylelded above that figure. fairly steady. Sharp recesslons took place in such recent favorites as American Smelt- ing, Brooklyn Edison, Cage Threshing Machine, Du Pont, Manhattan Elec- trical Supply and United States Cast Iron Pipe. . R. Kinney broke 53 points to a new low at 4314, or nearly 40 points below the year's high. Sugar shares continued to reflect the recent improvement in the commodity market. American Beet Sugar pre- ferred advanced nearly 4 points and Cuba Cane Sugar preferred, Great Western Other steels held points, Granby Copper touched a new high. Ralls received better support than the industrials, although losses of a point or, more were registered by a dozen {ssues, including Atchison, Chicago and Northwestern, Rock | Several New Lines for Spring to Be | The markets were qulet ort the last | points to a new low on the current | movement, at 1461z, and closing just | Island, Unlon Pacll "irmness or the foreign exchanges refl-cted the splendid impression cre- ated in International banking circles by the spirit of amity which sur- rounded the entrance of Germany into the League of Nations. Demand | sterling was slightly higher around $4.85% and French francs rallied sev- eral points to around 2.90 cents. | DRY GOODS QUIET. Nlekol Plate, Opened Monday. NEW YORK, September 11 (#).— Severnl new lines of yarn, dyed wash fabrics and worsted dress fabrics for Sprinz will be opened on Monday. days of the week, after the cotton report was issued, but prices held very steady. Yarns have been active. Raw silk was unchanged. Stk goods were more active than for some time. A larger business is expected in wool goods next week after the resumption of work in the cutting trades. Burlaps continued fitful. awaiting the jute report due in the next few weeks. Local prices ruled firmer and steadier than those in Calcutta, light shipments in August having made spot buying more active. R BANK CLEARINGS. NEW YORK, September 11 (A). Bank clearings in the leading cities of the country for the past week totaled $7,580.071,219, according to figures compiled by the Commercial and Financial Chronicle. The increase over the corresponding period last vear amounted to 2.3 per cent for the country as a whole and to 3.9 per cent for New York Cf Net. | 192526, Hieh. Low. 36% | 102% ~1925--26— . Low. Stock and dividend. 27% Manila Elec Corp (2). 20% Maracaibo Oil Explora. 39% Market St Ry prior pf 2113 Market St Ry pf 32% Marland Ol (4). 10% Marlin-Rockwell (2)... Martin-Parry (2). Mathieson Alkall (4). May Dept Stores (5) May Dept Stores pf /(7) Maytag Co (2) G Metro Goldwin pt (1.89). Mexlcan Seaboard Miami Copper (1). : 4 Mid-Continent Petroleum Mid-Continent Pet pf (7). 4 Middle-States Ofl Middle States Oil ctfs i Midland Stl Prod pf (111} 120!. Miller Rubber ctfs (2)... Minneanolls StP &S S M Minneap St P& 8 S M pf. 5 M StP&SSM Isd lines (4). Missour! Kansas & Tex. i Mo Kansas & Texas pf (5) Missour! Pacific. . Xissouri Pacific pf. Montana Power (5)..... Montana Power pf (7)... Montgomery Ward. 4 Moon Moters (3) Mother Lode Coa Motion Picture (1%).. Moto-Meter Cl A (3.60) Motor Wheel (2) Mullins Body Murray Body Murray Body Nash Motors ($3) Nat Acme (stamped) . Nat Biscuit (143). Nat Biscuit pf (7)....... 12! Nat Cash Register (3). Nat Cloak & Suit. .. Nat Cloak & Suit pf (7) Nat Dairy Products (3) Nat Dept Store: £6 Nat Dept St 1st pf (7).... Nat Distillers Products. . Nat Distillers Prod pf. Nat Enam & Stpg. . Nat Enam & Stp pf (7). Nat Lead (8) at Power & Light (800). Nat Rys of Mex 2d pf Nat Supply (4). Nevada Consol Cop (1) N Y Air Brake (8).... N Y Canners (C2) N Y Canners pf (6). N Y Central (7). N Y Chicago & S NY Cm&stLpl(S) Y Doc pf (5)... N Y & Harlem (5) N Y New Haven & Hart N Y Ontarlo & Western. N Y Railways pf ctfs. N Y Rwys (2d stpd). N Y State Rys pf. N Y Steam 1st pf (7). 103% 275 Niagara F Pw Co pf(u() 2814 217 Norfolk Southern. 4314 123% Norfolk & West (f8)..... 167% 75% Norfolk & West pf H) 5 41% North Am (b10% 8ock). . 46% North Am pf (3) 9114 North Am Edison pf (6).. 58% Northern Pacific (5). 7 Norwalk Tire&Rub(80c). 72 Norwalk Tire & R pf (7). 30 Ofl Well Supply (2) 14% Omnibus Corp... Low. Close. Migh. 5. 35 35 228, 76 43% 421 110 20% 311 121 44y 4% 3914 21% 51% 10% 58% 8 % 428, 97Y% Texas 107 Texa 141% 2 180 101% 35% 72 192 4414 ‘zuu 1425 18% Onyx Hoslery (3.20). 41% Oppenheim Collins (3). 25% Orpheum Circuit (2). . 98 Orpheum Circuit (pf (x) 104 87% Otis Elevator (6). . 121 8 Otis Steel. . % 9 4 Otis Steel pf. 101 Outlet Company (13%).. 501 Owens Bottle (t4)... 80% 79t Paciflc Gas & Elec (8)...... 131% 131% Pacific Oil Stubs. 18 1% Packard Mot Co.(12.90).. 37% 363, Paige-Det Mot Car(1.80). 174 Pan-Am Pet & Trans (6). Pan-Am Pet & T CI B (6). Pan-Am West Pet B (2).. Panhandle Prod & Ref... Panhandle Prod & Ref pf. Park & Tilford., Park Utah (60c). Pathe Exch, Cl A (¢3) Penick & Ford Ivania Coal&Coke. Ivania Railrd (3). Penn Seaboard Steel Peoples Gas Chicago ( Peoria & Eastern. Pere Marquette (i8).. Pere Marquette pf (5) Phila Co (4. Phila Co pf (3) Phila & Reading C&T 36% Phila&Read Coal&I ctfs.. 2% Philip Morris & Co. .. 36% Phillips Petroleum (3)... 18 Phoenix Hosiery.. 84 Phoenix Hoslery pf (1) 10% Plerce-Arrow. . 33 Plerce-Arrow pf (8).. 54 Plerce Of1. 13 Plerce OIl pf. 2% Plerce Petroleum. 29 Pitts Coal 70 ' Pittburgh Coal pf. 134 * Pitts Ft Wayne & Chi 30 Pitts Terminal Coal. §3 Pittsburgh & W Va (8) 40% Porto Rican Am Tobacco. 64% Postum Cereal (5). 344 Pressed Steel Car. 11 Producers & Refiners. . 27 Producers & Refiners pf... 62% PublicService NJ (5).... 109 Public Service N J pf(8). 9215 Public Ser EI&Gas pf(6). 100% Public Ser El Pw pf (7 129 Pullman Company (8) 33 Punta Alegre Sugar 25% PureOfl (12)... 32 Radio Corp of Am. 44% Radpi Cor of Am pf(3%). 68% R R Sec 111 Cen ctfs (4).. 30 104 12 518 102% 1 14% 13% 564 0% Virgin 21% 1% 561 16% 7 48% il 112 16% 61% 68% 59% 45% 36% Wabash L 4++1+1 1++1 9574 119 1031 13 .. 194 E ” 2 W 39% 4 A 1 28% o213 48% 748, Stock and dividend., St Joseph Lead (13) 57% St Louis-San Fran (7).. St L & San Fran pf (7). St Louis Southwestern 70% St Louis Southwst pf (5). 48% Savage Arms (4). 2 Schulte Retall St ( Schulte Retall St pf (8) . Seaboard Air Line. . Seaboard Alr Line pf. Seagrave (e1.20). Sears, Roebk & Co (213). Seneca Copper-. . Shell Tr&Trad (a Shell Unfon O1l (1.40). Shubert Theater (5). Simmons Co (123).. Stmraons Co pf (7).. Simms Petroleum (1). Stnelair Consol Ofl. ... Sinelair Consol Of1 pf (8) . Skelly Ofl (2). i Sloss-Sheff S & Ir pt (7). South Porto Rico Sug(6). 4 Sou California Edison. .. Southern Dairies A (4).. Southern Dairles B. ..... Southern Paclfic (6) . % Southern Railway (7). Southern Raflway pt (5). Splcer Mfg. . Spicer Mfg pf (8) Standard Gas & El (g3) . 4 Standard Gas & E1 pf (4). Standard Milling (5). % Standard Ol1 Cal new (2)’ Standard Ofl of N J (1) Standard Oll of NJ pt(7). Standard Plate Glass. . 4 Sterling Products (5). Stewart-Warner (6)..... % Stromberg Carburet. (6). Studebaker Co (5) Submarine Boat Sun Of1 (11). Superlor Ofl. Superfor Steel (2). 4 Sweets (o of America. Symington. ... - Symington Class A’ (2) Telautograph (60c) Tenn Copper & Chem (1. Texas Co (8)... ulf Sulpl 4214 Texas & Pacific Texas & Pac Coal & O1l. .. Pac Land Trust. .. The Fair (2.40). Third Avenue. 4 Thompson J C (3.60). Tide Water Oil (1%). Tide Water Ol pf (5). Timken-Detroit Axle (15) Tobacco Products (7). Tobacco Prod C1 A (7). Transcontinental Ofl. Transue & Wims S ' (2). Twin City Rap Tran (5). Underwood Typewr (4).. Union Bag & Paper...... Union Carbide (5). .. Union Oil of Cal (2) Union Pacific (10) Union Pacific pf (4) Union Tank Car (5) ¢ nion Tank Car pf (7). .. 4 Utd Clgar Stores (c2) nited Cigar Strs pf (7). United Drug (8) 1 United Drug 1st pf (x%), United Dyewood United Fruit (4). . United Paperboard (2)... US Cast TP & Fdy (10).. U S CastIP&Fdy pf(7). U S Distributing. . U S Hoffman (+3%)..... U S Industrial Alcohol. .. ] S Industrial Alco pt(7) Realty & Imp (4) U S Rubber U S Rubber Tst pf (8) 1 U S Smelt Ref & M (335). USSmelt R& M pf(33). U 8 Steel (7) 214 U S Steel pf ( ¢ US Tobacco (3) . Univer Pict 1st pf (8) % Univer Pipe & Radfator Univer Pipe & Rad pf (7). Ttl Pow & Lt A (e2). Vanadfum Steel (3) Vicks Shrevept & Pac (5) -Caro Chem. Vivadou (3). Vivadou pf new (7)... Vulcan Detinning pf (7 Wabash pf A (5) Waldorf System (1 %) Wal“nnh (1) W rd Baking pf (7) Warner Bro Pic C1A. Warren Bros (4)........ Weber & Hellbroner (4).. WestPenn Electric A (7). West Penn Elec pt (7). West Penn Power pf (7). Western Maryland. Western Maryland 2d pt. Western Pacific. Western Pacific pf (6 Western Unlon Teleg(8). Westinghse Air Br(17%) West'house E & Weston Elec Instrument. Weston Elec Inst CIA(2). Wheeling & Lake Erfe. Wheeling & Lake Erie pf. White Eagle Ol (2) White Motors (4). White Rock (2)., % White S Wickwire-Spenc Stl ctfs, 9% Willys-Overland = 4 Willys-Overland pf (7).. Wilson & Conew..... on & Co A (new) Wilson & Co pf new Woslworth F W (15) Worthington Pump. . Wright Aeronautical (l) Wrigley (Wm Jr) (14). 4 142% 99%, 118 11143 3% 1% 52% 31% 41 97% 1&Coke pus) 167% 1391 % 17% 32% M@)... wing Ma pt (4). 53 | them every day. ling with corporation accounts to | that authorized this. . | check, | bookkeeper's job to watch this. FINANCI AL e ¢ RETURNED CHECKS GIVE BANKS OF WASHINGTON MUCH WORK 'Mucb Kltmg Still Goes on Desplte Drastic ' Law--Methods of Handlmg Such. Most Excuses Are Poor Ones. . FLEMIN( bad checks—are socall- d by reason of their great number and for . the further reason that there is no good excuse for half of them and none at all for half of the other half An_authority is responsible for the | statement that there were 10 00 di: honest checks last year, the wor covering a vast array men and women. As a matter of fact, the local House Asso ciation fs compe an afternoon sessfon the backs. After each bank gets its quota checks drawn on it and deposited tra to clear £o other city Lanks, or elsewhere, at the | in exchange for | to other banks, the checks are passed on to the bookkeepers, where they are charged against th account of the drawer and filed away for balancing the account and the passbook when they are returned to the maker. Some banks hold them | morning clearing: to the end of the month and rel\un“l them with balance sheet complete. Sheep and Goats. Go-backs, dishonored checks, checks | upon which payment has been stop- | ped, or in which there is some pal-| pable error or wrong, are passed up | to the head bookkeeper, and are then¢ generally offered to the hier or some other officlal for inspection. 1t the check Is drawn by one of the good clients of the bank and the fault | is a technical one, his reputation is not allowed to suffer, for @ go-back must hurt a good business man’s | standing. 1f there are other checks | in the groupr that should be con- | sidered “goats” they are recalled and cared for, while the real, genuine goats are herded to the second clear- ings and returned to the different banks whose customers were unfor- tunate enough to have recetved them When a depositor is under espionage he s not treated with the same courtesy accorded to clients whose records are beyond suspicion. ‘When the former make deposits of checks, drafts, etc., they are usually | tnformed that they will not be allowed | to draw against these documents |'y until after they have been collected, | ¢ but they keep the bank officials busy heading off their attempts to get the | cash and their checks are returncd tabbed as indicated. The men and women whose bank ! accounts are rarely worth the open ing and the subsequent closing, with | not long intervals between, know all the little tricks of the trade. They | know just about the usual time that | elapses between the paying of a | check to a merchant or in setlement | of some .aceount, or the cashing of | a check by a friend and the presenta tion of the same for. payment. They know, too, that the banks do not hold a go-back clearings on Sat and that they may risk an ; then and over Sunday. Not Sufficient Funds. This is the most general reason for the go-back and there are many of Of the others “no such account” comes up much oftener than it should. Also “account closed.” Bankers exercise great care in dcal ar. range specifically for authentic au thorization of official signatures. 1t is not enough to say that the presi dent and secretary will sign, but the bank officials must be satisfled by the minutes of the meetings of directors When some other official signs a it goes. It is the head Here is the little list that accom. panies each go-back on the return to its sponsor, fastened to the check. At the same time the bank returning the check through the afternoon of ‘the sins of | ! {any bank or o i drawing, [ over “tion, h clearings checks off on this slip tla particular fault that caused the banik upon which it was drawr to-return It may readily be seen from this that there are several good and valid reasons why the check should not ha honored. other than culpable causes Insufficient funds, indorsement, sig- nature unsa ctory, signature miss srope listed, Improper!y properly drawn, payment ainst ~uncollected items ount, no advies, na no foreign advi weount closed, drawer properly receipted, f ithority to draw, no count altered hority t subj ing not Some few days § consider wrong, clerks tide over wefore pay day with intend no 4 and know until checked by an law in tha pretty strict and all real erook assocl v ct! in it was put in the zod a mighty trail T i District which fs Meh €hould cover The local its passage. code go-backs b An act regulating the fssuance checks, drafts and orders for the pas ment of money within the Distr! of Columbia Be it enacted by the Senats Touse of Representatives of ed States of Amerfea in Congr sserbled, That any person within th District ot Columbia who, with tent to defraud, shall make. dr: utter, or deliver any check, d order for the payment of mone: er depositor. the time of such n uttering, or delivering 1 the maker or clent funds In bank or othe ment « full upon guilty of a at £ ¢ for the pa raft or order in presentutio fsdemeanor < onment for mora or be fined not mora avart, ent ref o because of i sufficient funds of the maker or draw er in its possession or control, shall be prime facie nee of the intent to_defraud knowledge of i1 sufficient fu edit with such ank or provide:d 1ch maker or not hava 1 ler thereof the amount ether with the amount. any, within five notice in pers or writing that such draft or order has not been pald. The word ‘credit s used hereln, shall be construed 1o arrangement or understanding xpress or implied, with the bank ¢ other depositery for the payment such check, draft. The above hec due th: of prote days after rec ame Bankers' Convention Coming. The American Bankers Associatio: nged for a meeting of the ection of the organiz: vention in Washing 700 bankers from the country wil bo hers fur vital interest and ned to men who ha <s {n their lines, contributes to entertainment of th athering 1 this_city, and the ton (lea: ing House Association, ympliment to the savings banks, which are asso ciate members of the latter assocla- ve voted the needed balanca entertainment fund tha of the iFinancial Highlights of Past Week Brought Out in Nutshell by Statistic Speclal Dispatch to The Star, NEW YORK, September 11, 1 Stocks (average of 50 issues). Bonds (average of 40 issues). Foreign bonds (average of 10 issues). Federal Reserve ratio... Money rates in New York Call Time Unfilled steel orders.. Pig_iron production. Building permits: Number of cities. Amount . Commercial failur Number . vees .. 1, Liabilities . e Revenue car loadings: All_commodities Grain and grain produc Coal and coke Forest products 831 ACTIVITY BY FEDERAL This Weel High T 137.44 13 Last Weel. his Week. T, 4.3 T4 \Ir-n!h«)f Month o 650 605 $29,407. Previous week indleated by bank of lust year. + RESERVE DINTRICTS Check transactions compared with the corresponding week of la |—E—\_""“"“—m. York | PRilladelphie | Clevel s & EICIA(1%) Louisville & Nash(16%). Ludlum Steel(2) McCrory Stores(15.60). .. McCrory Stores B (15.60) MclIntyre Porc Mines (1). Mack Trucks (6). . Mack Trucks 1st pt (7).. Mackay Cos (7).. Mackay Cos pf (4). Macy (R H) & Co. Magma Copper (3) Mallinson & Co. Manat! Sugar pf (1) 42\6 Manhat Elec Supply (5).. 82% Man Elev mod gtd (d5). 20% Manhat Shirt (1%)... LEADING BAROMETE Showipg trend of fmportant factors. 14% 98Y 10% Ray Con Copper (25¢). 69% Reading (4).... 35% Reading 1st pf (2).. 364 Reading 2d pf (2).. 417 Reld Ice Cream (3). 46% Remington Typewriter, 103 Remington 2d pf (8). 8% Replogle Stee! 421 Republci Iron & Steel(4) 5% Reynolds Spring. 63y 72% Reynolds Tobacco B (5). 1117 7% Robert Reis& Co........ 9% 84 Rossia InsCoof Am (6).. 86 48% Royal Dutch (a3.078) 52 42 Rutland pf. 54 42% Safety Cable (4) 53% Columbia Gas & Elec (5). Columbia Gas & El pf(7). 1 Columbian Carbon (4). Commer Credit (2). . 9 Commer Cred 1st pf(6'3). 93 Commer Invest Tr (3.60). 65 Commercl Solvents B (8) 1731 Congoleum-Nalrn. . . Cougress Cigar (3 g:'x W 60% Yale & Towne Mfg (05). . T0% 20 Yellow Tr & Coach (72¢). 39% 90 Yellow Tr & Coach pf(7). 107 63 YoungslawnS&T (4)... 91 RIGHTS—EXPIRE. 2% Peoples Gas Lt & Coke... 21 2y 16% Reading Rwy Jan 1'97 21% 21 Dividend rates as given in the above table are the annual cas) ayments based on the latest cuarterly or ’Idl ed oless oherwise noted: exira oF special divi d-’a:l'mfi«n:-'&flu““' . tPartly extra. IPAnble paya bl: L7 auaiter !Plu: «!/?T:nn'o'?fik e A s, CPhus 5% 0% m .m-u 30 SR "' o e e T hFhu » N 1o special” Too bt 39 32% 33 80 80 80 80 258 25% 116% 117% Precent trenl o Steady Business in dollars (checks cashed) . Employment (Department of Labor) Wages (Department of Labor) Cost of living (Industrial Conference Board). . Wholesale prices (Fisher's Index) Agricultural prices (Dept. of Ag Movement of goods (car loadings) Retail trade (Federal Reserve Board) . Wholesale trade (Federal Reserm Board). Failures (Dun’s) . : Bond prices (Annalist) Stock prices (Annalist) . Stock market volume (sh (Al riahte reserved. l‘unbfldl! Al.-w.hb; Bustun.) 115 113% 1131 (REREN P 60% s % Consolidated Distributor- Consolidated Gas (5) onsoltdated Textile. . Cont Baking A. . Cont Baking B Cont Baking pf (8).. 60% Continental Can (16). I1++1+ T Balemalin Popa a3 o+t 4 || [+ 2! -