Evening Star Newspaper, September 22, 1926, Page 30

FINANCIAL. ! oo BONDS oz rover] | TREND DOWNWARD (Sales are in $1.000.) 5 Steel s FINANCIATL." THE EVENING STAR, WASHINGTON, D. €., WEDNESDAY, SEPTEMBER 22, 1926. TOCKSKREGULAR; [NEW YORK STOCK EXCHANGE | BPc0 M CHANGE nEAI]' UBK NEAR"‘“"""* e ,"', (,i';glr;'.?',‘f“.?j,,‘fi;’(,,'_' : o ?Federal Secfi;‘ity and Mortgage "Co. De- o Ry S 1 clares Quarterly Dividend—Busi- ness Reported Growing. Ad Rumley pf(3’ Sales. High. Low. 310016 10013 Lib 1st 4 1 10016 100 16 Libist4iis 4 10125 10125 Lib 2d 4%s. 122 100 18 10013 Lib 3d 4%s. 1013 1013 Tdb 4th 4% s 1026 1023 US3%s... 110114 10114 US4si944. 110324 10324 US4%s52. 410724 10718 * FOREIGN. s. High. Low. Close. 929 981, 981y 98%, 981, 99's 991, 98% 951y 100% 100"z 98!; 98% 102 1014 96'; 957 1004 100ty Close. 100 16 100 16 101 101 1013 1026 10114 | W 10324 | Willys 107 21 Wilson & o Youngstn 8 & T 6s. RAILROAD. Atchison gen 4 13 915 Atlantic C L cl 4s 191y Atlantie C T, 3 92% Atlantic C L .2 105% 1 Lib 3y = 57 T 131% 1 Vertiente: Warner War: ! Ahumada (1) I Alr Reduetn (5). Ajax Rubber.... 81z & Sl Allied Chem (1). 144 147 142% AlliedCm pf (7). 120% 120% 120' Allis Chalm (). 883, SR% K8 g Amerada (1.60). 31% B 7 Am Agricul Chm 16 16 Am Agri Ch pf.. 5 ’ 3 Am Bunk N 1,60, 5 Am Bosch NEW YORK. September On a | Am BrakeSh(6) reduced volume of transactions prices | 4™ Br Boy & 13 : Am Can (2). 54 on the Stock Ixchange today were 4 54% time there was Am Canpf (7).. 124 124 i it tn e Am Car&Fdy (5) 100 100 shares, Iut with no suggestion of a AmDrug....... B 9 renewal of the main advance which AM Pxpress (6). 129 129 vag interrupted a fortnight ago. In AM& For Pow. . 18 a darge part of the list stocks varied | Am & FoPpf(7) 8 long time were fluctuations so small; AT Hide & L pr. - 40% very little. In fact on no day for a | AmHo P (2.40). 2 The situation was —appronching ™ 10 (310)... 126% 1 something like a deadlock. Profes. AmTcepf(6)... 83 sfonal traders had been experimenting | AM La Fr (1)... 13! with the buying side and with the 4™ insceds.... 30% selling side about equally, without | AT Linsd pfu7) 784 being able to get far In cither direc. AmM locomot (8) 1051 1 tion. There were no fresh incentives | Am Mach & Iy upen which to build a new upward AM Po&Lt (s1). - "o Am Radiator (4) 11 movement. On the other hand, there : . was no inducement to sell. S ottch R (3)/EBT Am Ship & Com 68 Moon Statement Disappoints. Am Sm & Ref (7 1457 1457 14 In view of all that has been said | AmStIFdys (3) 441 441 44% for the last nine months about the | Am Sugar (5)... 76 75! prosperity in the automobile trade, AmSugar pf(7) 102 1 the statement of Moon Motors for the Am Sumatra (n) 37 3 six months ended June 30 was a dis- Am Tel & Tel(9) 1443 144 appointment. It showed a falling off | -Am Tobacco (3). 123 as compared with the same period in Am Tobac B (3). 122 1925, with the net income of $332,301. ' Am TypFdrs(8) 116% 1164 The Moon shares, which had closed Am Type pf (7). 1043 104% vesterday at 20%, broke sharply to a | Am Wa Wocl 9% new low for the vea Am Woolen. . . Hudson Motors continued to feel the Am Wool pf (7). influence of its unsatisfactory report. Am Writ Pap? Other motor shares did little. Stocks | Am Zinc pf like Yellow Truck, Willys-Overland, Anaconda (3) . Studebaker, Chrysler sh Motors | ArmourDel pf(7 and Mack Truck during the greater | Armour of Ill(A! part of the session moved about within Armour of T11(B) fractional limits. General Motors was | Arnold Cons&Co less active. | Artloom (3) The improvement in the sugar trade | Asso Dry G(2 position, due partly to the storm and | Asso Oil (+2.40) party to the fact that the old-crop sea- Asso DG 2d ( son with its excessive production was | Atchison (7). .. over, showed again in the sugar |Atchisonpf (3). stocks. Cuban-American Sugar was Atl Birm & At higher and so was South Porto Rico. | Atl C Line(81%) 2247, 224%, 22 American Sugar was holding its re. ug Foreign Issues Are Lower and Obligations of All Com- panies Sag. Volume of Trading Is Re- duced—Rail Shares Show Some Strength. 465 18% 470 49 5004 : 199, 1d Dust..... ] 120's | Goodrich Ru (4) odyear pf (7) BY EDWARD TONE. 20 Stocks were strong on the W: ington Exchange again today, when a good variety of issues appeared on | * | the board, 142 shares changing hands | . 0 “EAERE COUEE AR during the session. The market open- | new jssuo of $600.000 first mortgage ed with @ sale in Potomac Leetric | % per cont cupon gold honds, to be ot pre 754, this fssue | Secured by a first mortgage on the B e orar Washine. |1and and 10-story apartment building e e 4° Elocteic preferred | to be known as The Royalton, Phila- Y comit. at 805, District of | delphia. The honds will be dated Sep- Columbia Paper preferred. which anrl,“;!“_‘h‘f'f' Ly 11 L "““k‘.‘"? SR pears rather infrequently on the |V from 19 nking D e | pavments will reduce the mortgage to sonMan (2 ey Rl | $360,000 before the final maturity. HudsonMan( changing hands in two tra I e I e Hudson Mo at 80, Lanston Monotype registered | 1n€ bonds are being offered to 3 Hupp Mot (1) 267 247 - Monotype, relsterte | 6% per cent in all maturities. upp Mot (1)... % @ sale of 10 shares at 91, and 20 D e et Tlinofs Cen (7). shares of Natlonal Mortzugg, and In- iisieconite ot Indep Oi1 (1) vestment preferred sold at 7 S e e laniMatori ‘There were three sales In Amerjoan | Bridge public offering i nd St (215). security and Trust Co. stock at'3 yrleans Pontchartrain Inspiration (2) while 39 shares of Union Trust Co.{gepentyre sinking fund Interurb Rap Tr tock -brought 225, this being the Dre-{p,nq5 The honds are priced Intcont] Rub(1) vailing price recently and a half a!pondf 'The bonds gre briced Internat Agri. . poing above yesterday's close cent to 10.15 per cent, according to Int Bus Ma (3). SONiE were pesliecid ud j date of call by lot at 110 and accrued | nt Cement (4) session, as | s vded | yneere. peration of the sinking Int Cement pf(3; {1n, one of these being Potomac Elec- | iieredt: | ORCCRtion S H0E Sentire TneCom Eng (2) tricConsolidated which <old_at | Int Harvstr(6). . 100%, and the other Washington | TntMteh pf(8.20) Railway and Llectric 4s, which reg- | Int M Mar pf istered 823,. Int Nickel (2). Int Paper pf . Mortgage Compans Votes Dividend Int Tel & Tel (6) At a meeting of the board of dire Tewel T 5 |been invited to one of these dinners p- |and they behaved so well that they |are sure to be admitted again next BY GEORGE T. HUGHES. 1 Dispatch to The Star. a YORK, September 2:.— Tha 103% | Teactionary trend was still in evidenca 805 | In_the bond market today. a1t | Traders ‘were talking of the poc g614 | Sty of another advance fn the ast, | rediscount rate at the Federal Reserta Bank, cither at Boston or New Yorl This was ire but it had the effect of slowing up trade. Meanwhie a higher range of call money and the statistics, showing that larger amounts wera being an sorbed in stock speculation, for hesitation Government Bonds Steads. United States Government 1 held steady. but here and there it the highgrade railroad lists ther were fractional declines. Atchison general 4s, the typical bond in this group, sold around the low of the movement fust above 91 Foreign bonds wera di: For the first time in w bonds were in supply and yielded. There was a *good for all’ of them at concession: the enthusiasm o t week was g missing. ‘French 7. T3, and s were L CM&SEP deb 4x cfs 8 2 REIE Daiie nnual convention of the A DET 3 N GG : L e oS By {of Bank Women, which takes place in Yov SusSTess 8 S e R DL tors of the Federal Security and Mort. ! 0f Bank Women, which taics pl In5igs 3 CMES DY ernment. Kingdom of Italy i were gl Noon: |session there. The membership 18 | Duteh E EDIANEW fhe e b (e e Jower lnaC gage Co. hold yesterday afternoon. | « the regular 2 per cent quarterly divi-{Sessic s 51 Duten s Al Tys 53 time since ‘the recent upward move the | made up of women who hold execu El Salsador 85 48 . e BT Y Tt T tae dend was declared, Morris Cafri teive o > i e sident, announced today. It m.sw:"‘ ]1“) Leis ”'(vh“"l: _‘]"‘: ’f'_“:“";‘_ A s CHTH&S oy the same trend was observable in the ported at the meeting that the com- | In the organization reac e AT be: | Finland 7s. Chi Un Sta 4155, aey ot German obligations and in those of h Framerican 7izs. L G nton Ste 96% [ South American countries. : ! e ue {vond this limited numbe ny's business has been growing|¥ond this dimited n Al . lathiy consieng days' sessions are o take place at|p 3 i& W Ind cn 4s. A few of the speculative railroad is ":_""(‘lh ‘R “ . sues moved against the rest of rench 8s. e Ml o i L fength [ times which will not prevent the mem- o e e I s e that the |bers from hearing the important A. market. St Louwis-San Francisco i A o e e o iave | B. A. discussions. One of the feautres | German comes were detiv firm, amiv . B Il of the jamt® of 100.000 |0f the women's convention will be fraction below th of tiie vea: S throughout the International Gre: Northern e wents rallied at one time. Chicagc fol- cant o oritlative yTes| exhIblts By banks T otk o v aaid_ to | country of publicity and advertising i William Aiton 3138 were fractionally highe On whe other hand. Denver _.nd 1: be well ahead of dividend require-| directed to women. eente e Sresent officers inelude: | Liambecr, assistantant cashier of the Grande 3s dragged, and so did Seaboard Air Line bonds., which wer Motria Cdtritz, president, Hanry ar [ ationals City, Bank, New ¥orp i Vice president; George W. | Dresident of the assoclation, whi ice pr and as- | has 188 member: 3 still feeling the effects of the ¥l 463 | urer; Morris Gewirz, Southern Dairies Losses Light. storm. 2 [}:’zs\n’k;“zv ‘s-":';:;:;ll(“'o':{:‘sfl; = ;‘; FEdward 8. Perot, jr., president of Warner Sugar is Recover. 6% | Chewning, G owen. R. P.lsouthern Dairies. Inc.. has issued a The feature among the industria 308 | Andrews, Edward W. rou.}_{unw A‘;- statement to stockholders saying total was the recovery in ’{\ arner S”g“,.‘ 15% | Goldsmith, Paul Himmelfarb, J. B.|damage to all plants in Florida by SEUBAI niteeiten TH Daiie W 1361 | Shapiro and W. W. Griffith. the hurricane will not exceed $5,000. evidently based on the improvement igar trade. Other sugar bonds same influence w Bankers’ Dinner Marked Success, | This slight damage is due to the fact 1d Cuban Dom Arzentine 6s Ju59. 7 Argentine 65 Octs9 13 Argentine 6s A.... 7 Argentine 6s B Argentine 7. Anstralian 5s Anstria 7s. . Bank of Chile 6135, Bank of Japan 6s. . Belgium 6s. 864 Belgium 615 923 B & O 6 = Belgium 7s. . B&Orfi uc. . I Belglum 714s...... 4 7% | B& O PLEWYV 4s.. Belgium 8! B& O SwDiv as ofs Bolivia 8s. .. BKIyn Manhat 6 Bordeaux 6s. Buff I & Pitt 414 Brazil eeee Brazil 8s. Tanada 53 193 | Canada 55 1952.. .. Canada 515 1929. . Chile 75 1943. Chile 8s 1941. Chile 851946, ... Chinese Gov Ry 5. Con Pow Japan s { Copenhagen 513s. . Czecho iz rets. . . Czecho 8s 1951. . . zecho 85 1952 ct. 21ish Munic 8s B. 136 ew Apartment House Issue. 441 534 124 99%, 9 antanamo If Mo & Nor. . If States S (5 Hanna ist v Hayes Wh (31} Helm Geo (76% ) Hoe & Co A Homestake ( Househd (1 . Houston Ofl. ... Howe Sound(4) . 137 45% 45% 5%, XU & Dan 1st 45 48 807 B& O gold 4s. . oy B&Ocv 4t B&Oref 5s. . B&O 552000 1 B&O 1Ist 5sct ng Pontchartrain being made 000,000 0.y 1 per cent gold i lof Canad Nort Canad North 7s.... Canad Pac deb 4s. . Cent of Ga 51 Cent of Ga 6 2: Cent Pac 1st 55 90. Ches & O cv 41 Ches & O gn 41,5, Chi & Alton 31 ChiB & Qgn 4s53. CB&Q-I3 Chi& E I gn 2 Chi Great West 1s. CM&StP s . secretary of . and many Miss Mary J the Continental other women in Washington banks re especially interested in the fourth ¥ South Kan C So pf (4) Kayser J (3) Kennecott (4).. Kinney G R (4). Kinney pf (8). Kresze $S(1.20) Kresge Dept S. Lago Oil & Tran Lambert (31) Lee Tire& Rub. . Leh&Fink stf(3) Lig & M B (14). Lima Loco (4). . Liquid Carbonic el uamRoRodl Braasnmr—wn Haiti 6s. Holland-Amer 6s. . Hungary 7%s TRl TE. .. .o 12 Japanese 45 e Japanese 6135, ... 98 Lyon 6s. . 10 Marseille 63... ... 17 bt Mexico 4s 04 asntd. 2 gl os saess Mexico 45 10 asntd. 10 5% 26% | Birie gen 45 Mexico Gsassente 12 6 fe conv 4s A Montevideo fe conv 4 Erie conv ext 7s Colo & Sou 1 Cuba R R 35 Cuba RR T Cuba NR6s66.... Del & Hud 1st rf 4s Del & Hud ev Den & Rio G cn is AtIGuIf& WI.. 39 39% cent gains and the other members of | Atl Gulf&WI pf. 41 41 the groun were steady. | Atlantic Refing. 110 112 At one stage Atchlson was up 2 AtlasPowdr (4) 60 60 points. later falling 1 Tnion Pa- | Austin-Nichols. 10% 107 which had closed the day before | Austin Nle pf(7) 65 65 crossed 164, responding to | Baldwin L (7)., 117% 117% rkable report for the month | Balto & Ohlo(5). 107% 107 | 4 e = of August. Nickel Plate ran up some | Balto & Oh pf(4) 73' 734 § L TS S ne s ot ithe e matia e o plants are of modern steel 4 point heeling and Lake Erie | Barnsdall A (2). 27% 9 107 [amiittac of Washinetor Obapte preferred gained over 2 points. At- | Barnsdali B (2). 24% o Mz 3 104% | Tear. S e lantic Coast Line rose nearly 3 points. | Belding Bros(4) 597, e N e Other rails were dealt in at prices | Bethlehem Steel e e L Cyenng ey which were comparatively unchanged | Reth St pf (7). i e R b{’*:;“:d{:‘"‘:;(j‘ or slightly higher than those of Tues: | Bloomingdale Bt lon iutord. Aviss Katherie Joriee | das. : ; e chairman of the committee, presided | =5 e | 5 and Miss Mabel V. Royce made a 3 reaction. Foundation Co. came down | Bkln Un G(+11). A4 Leith, president of the chapter,|dent . Davies Warfield. Usual Drog- | patu 7ts nearly 2 points. On the other hand, | Brown Shoe (2). i3, &reeted the guests, being followed by |ress will be resumed on Seaboard's | pery gs. ... . shares of the amusement companies, | Brunswick Balk. 5oty | ors, Jullus N. Freeman. director of f construction program in that State | poland 6s 40 which had fallen so badly last week, | Brunswick Ter. . 1213, | he Tourist Bureau of the Merchants |in a few days, it was said. Contract-i poland 8s were rallying sharply, Warner Bros. | Burroughs (+4). 115 115 5, | @nd Miners' Transportation Co. Mrs. | ing forces employed on the new lines | prague 7155, A and Fox Film A. American Safety | Butte&Super(2). 9% 9% 1o |[reeman gave a delightful talk on a|are now rendering emergency and|Queensiand 7 SRaror wob simons and Dnlied Steies| ButeiGopGc). 4% 03 |vecend trip to Egypt. The other | relief work in the devastated district, b Rubber was higher. American Brake | Butterick....... 59% 59 | speakers were Joseph D. Yerkes, first |and it was entirely due to this that { Rhinelbe Un o 7 R s Lo s igig il vice president of the chapter; Ray- |the delay has occurred. Mr. Warfield | Riode Jan 83 1046. 20 Tihe Walll Steet! ramor that i6onpo- | By Predasts (5460 (64% {mond B l;)ml;{;\’l;endomexd“: rm:h.\ t\\‘)mvl(q")(‘hn e h‘v:e“lo Miami to be | Rlode Jan 8s47. rations with big undivided surpluses | S o o S i B <1 o GOTIPICERUE O SHeUuIE which they did not need in their busl: | (ol parice) . a9 a9 | chairman, ‘and Judge Mary O'Toole Todny's Personal Notes. ness_would he compelled to pay these | cajapol pie 0 2, 3E he flrst time that men have | yi.(qr R. Devber. president of the Second National Bank, left here today out under the threat of heavy taxa- | Cajumet& Ar(6) 68 68 tion were not borne out. ~From one | cajumet&H (1 18 184 for the Los Angeles bankers' conven- { tion. source this story semed to be officially | (v . i denied. At all events United States | con meeins(10y. 1600 1000t Steel common, as the stock chiefly | (age Threshing. 159t 160% cencerned, was disposed to sag. Case Thr pf (7). 110 111 Central Alloy... 31% 31% Cent Leather... 9 9% 9 9 Cent Leather pf. 57% 58 5 vash ) B 5 Cerro De P (1).. 68% i & J 8 | Certatn-Teed(s) 42 ? Biscult $41 91 Chand-Cleve.... 14% u pf 128 | . K i Chand-Cle pf (4) e tay il StAG&EIDL1) 564 5 {tute of Bankin s ont12) a e e M ? { Philadelphia_this noon ¢; | Chi & Alton. S . 1 507% ; “rally dinner” at the levening. Chi & Alton pf. . 4 Chi & Fast 11 pt 116 116's 116 11614} Robert L. Flather of the American, | Chi Great West. 88 g1, | Security & Trust Co. is attending a Chi Gr West pf. 64% convention of the National Financial i Mil & StP.. 6214 Advertising Association in Detroit. Mil & St P pf 58! <] T. Hunton Leith, assistant cashier Chi & Nwn (4).. 4| of thes§ecurity Savings and Commer- | cial Bank. reports the arrival of twins 1t his_residence. and announces that | both the boy and girl will attend the Institute of Banking when they get a {little larger. and concrete construction. Reports how milk distribution will rapidly re- sume normal conditions. Milk ship- ments to Miami have been doubled to meet the emergeney. ew lines of the Seaboard Air Line [ Norway 6s 1952 way to bhoth Miami and Fort|orient Dev deb Myers suffered only nominal damage | paris-Ly-Med 6 from the Florida hurricane, Paris-Ly-Med Gr Trunksfdb Grand Trunk Gt Nor 412576 D ues still sagged. ral 1™ ot down below . lower ime since Standard OI! o the obligati : X run-up in Ch o ay b on the announcemen s A of plar ljusting the trans situation. <lyn Union ' stood out convertible bonds running up over 2 points with the stock. WHEAT GOES LOWER AFTER EARLY RISE Opening Decline Offset by Ad- vance, Which Is Followed by New Sethack. 5018 103 33 Macy H R & Co Macy pf (7). 3 a Cop (3) 26 26 Manati pf (7)... 30% 30! 5 78 150% 15 e x b 48% 625 634 6 90% 927 35% 85 38 38 4% 15% orway 6s 1944. . Allled Chemical Reaction. Hocking 3 Hud & Man ref o5. Hud 111 Central ref s 111 Central rf 55 55 111 Central & Int Rap Tran 5s. Int Rap Tr & Int Rap Tran Int& G Int& G Int Rys C A 5s Int Rep C Am Kansas City § Kan City Ter 98% Lake Shore 4s 90 Lous & N uni 4 931y L& N 4145 2003 . Market St 7s 40 Ml EI Ry & L 35. . lggt ME&StL st of 45 Utd Kingm 5%s29. 8 18% M St b & SOM 5o Utd Kingm 5135 87. 81 105% 105 MK & T 1st 4s. MISCELLANEOUS. MK&T4sB.. Ajax Rubber8s.... 4 104% 1041 MK & T adj Am Agri Chem Tl5s 11 104% 104% MEK&Tprinis A AmSmit & R1st5s 8 100% 100% MK&T6sC. Am Smit & R 6s. 108 Mo Pacific gen 4s Am Sugarref6s... 6 104 Mo Pac b5 1965 AmT& Teclirds. . 98 Mo Pac 6s 49 D AmT&Tecltrds.. 1027 Mo IPac 6. E.. AmT&Tsf 55, 1005 Nassau E Ry 4s 67 Am T & T deb 5155, 14 106% New Or Term ds. .. Am Water Wks os. 9714 N O Tex & M55 B. Anaconda 1st 6s... 14 103% NY Cen gen 31ss. . Anaconda cvdb 7s. 16 106% NY Centdeb 4s. .. Andes Cop 7s rets. 105% NYCrfim4ts13 Armour&Co 414srf 10 90% NY Centriss Armour Del 53%5. . 9315 | Ascociated Of1 65.. 11 10215 Barnsdall 6s ctfs. . 98 Other Financial Jottings. Bell Tell Pa 58 B.. 3 102 D. Schumacher, president of the | Bell Tell Pa 58 C 1025 i Southern Bond and Mortgage Co. of [ Reth Steel pm 5 9714 | Richmond. was elected president of | Beth Steel rf 5s. 100 ithe Jkers' Assocfation of | Beth Steel 96% {America today, the second day of its| Beth Steel 6s. .. 1005 Ithirteenth ann nvention. i Bkiyn Ed gen 5s. .. 104% of the Louis K. Liggett Co., | Bklyn Union5is. . 1574 of the United Drug Co., |Calif Pete61:s.... 7 103% ,803 during August, com- | Chile Copper 6s 32 106 $3574,894 in the same|ColGas&Elbs.... 1100 i ar. Tor the elght |Commonwlth P gs 104% {months of the year they amounted to | Con GasN Y 63%s.. 25 105% is 019, azainst $27 470,064, Consumers Pow 5s. 6 100% Un Rag& Paper. 47 William L. Moffatt has been made | Ciba CanecvTs... 94 TUn Carbide (5).. 8814 director of the sales department of | Cuba Canecv8s. 98 Unoil (2)...... 511 55k C. E. Moran & Co., dealers in in.){ubanAm Sug8 107% Un Pacific (10).. 163% : vestment securities. Mr. Moffatt has | Denver Gas bs. . 96% Un Pacific pf(4). 79 had much experience in the financial | D6t Edison 5 4 102 Un Tank Car(3). 115% fleld in Cleveland and New York. L P ene 108% Utd Cigar S (¢2) 97% 9 9 Dodge w1 6s. . 95% Utd Drug (8)... 166 5 — B Donner Steel 7a. it Tnited Fruit (4) 1167 1 uq s 49. TRETPaR(10) 210 SLOAN IS OPTIMISTIC. Duquesne Light 6s. 5 105% U S Distributing 54 NEW YORK, September 22 (#).— | st cuba Sug 7% 105% . 3% | Conditions could _hardly be any | Empire G & F 735, 8 1034 U S Hoffmn 312 51% better so far as General Motoms i3 | gk Rubber 8s.... 6 115% 1 : U S Ind Alcohol. 7% concerned, said Alfred P. Sloan, jr., | Goodrich 6%s..... 3 105% : Ford. . US Realty (4).. 62% & izt | president ‘of the corporation, on i | Goodvear 81931, 6 110% Pennsy R R (3). U S Rubber..... 2 61 | departure for Iurope With a group | Goodyear 8s 1941. . 120 Penn-Seah Stee US Rub tst (3). 106% of General Motors executives. “Re- | ershey 51,8 101% Pere Marq (8). S Smelt (3%). 37t ports from all sections of the country | Hoe & Co 6145. . . .. 96 re M prior(5) . 1 L 146% ; 51 | indicate there is not a cloud in sight,” | Humble O & R 5145 6 102% Phila Co (4). 126% 3 Tr. Sloan added. “We all feel very | Tilinois Bell 15t 65. 12 102% Phila & RC 65 well satisfied with the al Motors | int Mer Marine 65 8814 Philip Mor 19 picture as it stands tod ir. Sloan | tnt Paper 68 47. . . . Phillips Pet (3). 31 said the question of any extra dis- | it Paper 6s. {bursement to stockholders this year | ne T & T 5%+, . {would mnot be cousidered until ~ the | Kan CP&T, 5 November meeting. Kan G & Bl 6 Kelly-Spring 8s... | Lackawa S 58 60. .. Laclede G 5148 52. . Liggett & Myers 58 Liggett & Myers Ts TLorfllard (P) bs... Lorillard (P) 7s. .. Louisv G & B 55 52. Manat! Sug sf 7%s. Mid.Con 815 40... Midvale Steel 55 Montana Pow 68 Nat Tube 15t 58. ow Eng Tel 5 ! Y Edison 614 B 1 Y GELH&P | 1 NYTeldys, . NV Tel 6541 N Y Tel 65 49 59 | ! North Am Fd 6s. .. 244 2 ) North Am ¥d 6% 5. 1 1tk 10% Comt R L,"’“;""r’,' “r.: Wheel & L Ecn 4s. 10 8415 8414 s pod- sl i Wisconsin Cent 45, 1 T . inn & I 58 R s s L 11 Haptd OUTLOOK DIVERGENT. an bthd Vethts. NEW YORK, September 22 (). hila "0 b1n 38, .. ew orders for finished steel and e .- deliveries on those placed in the Sum e | mer continued i fair balances, but 1051 | forecasts for the fourth quarter show 90 | come divergence” Iron Age says. Marland Oil (4 May Dept St Maytag Co (2) Mexican Seabd. . Miami Cop (1). Mid-Continent Middle States Midland pf (+9). Mis Kan & Tex MoK & T pf (6). Missouri Pacific Missouri Pac pf. Sontana Pow (5) Montgom W Moon Mot ( Mo Picture(11:) Motor Met( Motor Wh (2) Rio Gr Do Sul 8. .. Seine Ts 42 4 Serbs Crot Slo 8s. . weden 515 ct. Sweden 6s. .. Swiss 5155 1946 Toho Elec Pow 7s loss Sheft (6). . South Port S (6) 114% . Mountjoy, Washington repre- ou CahEdison. . 3 . B. A. and u Dairies A(4) tary of the national bank division of ou Dalries B. the association, leaves Washington to- uth Pac (6) morrow for the convention. He will Southern Ry (7) 126% stop off in Cleveland and leave Chi- | South Ry pf (5). 93 cago on one of the bankers' specials picer Mfg 2415 next Tuesday. | StdGas& B 3. 5412 Paul B. Detwiler, By the Associated CHICAGO, September Whea | fluctuated nervously today. an ear break being followed b wrp upturn < and then by anothe thack. aver: ing lower for the day us a whole | Prospective quick settlement of ! British coal strike cou a hear sh factor on account of lieiiho ney of need of short hauls ments of grain wou'd On the other hand snow and rain in Canada tended times to strengthen wheat values Assertion that world whe: hereafter will be largely contr by the crop outlook south Eaquator attracted considerable tice today. A leading trade authorit: here said that if the prospect in Ar | gentina and Australia is satisfactory ate in the Fall. Europe will prob curtail her imports during Dec ind and North Americs ports 1 helow 3,000,000 b a week February 1 Ttois ed that North America L ean spare 10,000,000 bushel week ors | and still provide for domestic req o, [ments and reasonable car !l over. 1f, however, the weekly ship * | ments from N op of 5,00 North Ameri 4 show 115,000,000 bushels surplus in ex of a fair carry-over. HEAT— High. 13615 1308 13447 Markets at a Glance head of the Insti- rived here from to attend the Willard this W YORK (®).—Stocks ir Allied Chemical touches new high -d. Bonds ea: I'rench Foreign exchanges s frane and lira recover. Cotton barely steady; expectation bearish (iovern- ment report. Sugar higher; unfavor- able Cuban erop report. Coffee weak; liquidation. /15 91, 10 4212 87 14 be soon rel Sterling Pro (5). | Stewart War (8) | Stromberg (6). . tudebaker (5). Submarine By Sun Ofl (1) uperior Oil. ! i at Supply (4) i 1t Wheat barely steady; | s at Tea (4) stocl Cor ble weather. Hogs lower. FORD PLAN DEFENDED. tatement of Attorney Filed To- Gay Backs Up Rail Merger Project. Hen Chi Pneu T (5). ChiR1&Pac... 63% CRI&XPpL(6). Oy CRI&Ppf (7). 103% 103% Chile Cop (2 331 334% Christie B ( Chrysler Cor Cluett Peab (5). Coca.Cola (7). Collins & Aikmn tion | Collins&Aik pf 7 orney | Col Fuel & Iron. the | Col G&El efs (5) | cot & El (5) Col Carbon (4).. Com Cred (2)... Com Cred 1st 6% Com In Tr pf 67 Com Solv B (8). | Symington A | Telautogra(60c) ) | Tenn Copper (1) i 1 | Texas Co (3).... 54 : Tex Gulf 8 (10). 168 | Tex & Paciflc. . Tex & Pac C& O 154 | Texas Ld Tr(8). 899 hird Avenue... 30 ompson (3.60). 49% Timken (1612).. 62% Tobac Prod (7).. 116% Tob Prod A (7).. 1174 Transcont Ofl... 4% Twin City (5)... 68% nuary YC&StL pF (6) NY Dock. . 2 NY NH & Hart NY On & West. pf (1%). Lock pf. .. orfolk South. . Norfk & Wn (+3) North A (B3.40). orth Pac (5). Norwalk (80¢).. 901 90'a Omnibus....... 176% 176% 1723 Oppenheim (3) Congoleum-N... 25% 257 25% Orpheum Cir(2). Congress Cer (3) 44 44% o e n Con Cigars (7).. 84 st s ol Consol Cigar rts. 5 ) Y% P“""-‘(_ @Y., Consol Distribut 2% 24 EaciONISEN Consol Gas (5).. 1074 108% o) : Consol Textile. . 2 3 ize Mot (1.30) . Cont Baking A. . ey Cont Baking B.. 2 Sterin Cont Bak pf (8). Pan-Am B Cont Can (16). . Pan-AmWnB( Cont Insur (6).. ‘M(’_",‘l,‘l“l-r”rd | Cont Mot (80c). L T | Corn Prod(+2%) a New Haven c d 65 N Y Ont W st 4 N Y Rys6s65..... N Y State Ry 41zs NY W& Bosdlzs Nor & S gen Norfolk & W en ds. Northern Pac 3s. .. Northern Pacr i 65 Ore & Calif 1si Ore Short L rfs 4s Ore Wash 1st 4s. Pennsyl gen 414s Pennsyl gen Pennsyl §s 64. Pennsyl 615s. Pennsyl gold 7: Pere 65 . 158%2 158! 58 + 5! 17% 11 45 4! 801 8012 81 81 6416 65 28 28 93 ¢ Ford's railroad consolid plans were defended by his a in a statement filed today with Interstate Commerce Commission. Minority stockholds in the De- troit, Toledo & Ironton are opposing Ford's program of combining that road with the Detroit and Ironton, and a commission examiner has rec- ommended that the plan be rejected. The Ford statement filed todz id the minori ting had only in- finitesimal nd that the com- mission had no power to be guided by that interest. The Toledo company was declared to require the reorzanization because its financlal structure at present does not allow the issuance of additional bonds for finance improvements and betterments. PULLMAN PROFITS. (S NEW YORK, September 22 O®).— | coutipie St1 (5) . @ross revenue of the Pullman Co. | yha Cane Sugat from operation of sleeping and Par-| Gypa Cane Su pf lor cars for the year ended July 31| cupa co (4)- was the largest in the company’s his- | tory, reaching $90, in- | Guban-Dom come from sleeping car business was it . and total net income $16: | cushman's (8) . . SRl 2 17 | Cuyamel Fr (4). ant_ securities and 5 5 1608 and holdings of| Davison Chem. stock and _equipment | Del & )h{;i. (8 )'._‘ i trust note: xclusive of stock _nr;;:"‘L - \‘u‘(r. . Pullman Car _and ~ Manufacturing | DI G Wt Doy 20 Carporation, brought ‘the total to | DevoeSHa(F0) 3 more than 000,000, ~Net_income | Dodie Bros Gl was equal to about 29 cents for each | Dodge pf (7 revenue passe PENNSY TO BUY RAILS. NEW YORK, Dupont (14).... September 2. The Pennsylvania - i | subs totaled § _{pured with {month . last @ 2 ® Closs Septenber ccember May OATS = September 1034 100%: 1001 *10015 1084 1081 s R e L ¥ T Ty Por RL&P 7 Reading gen 4 Rlo G W 1Ist 4s.. RIArk& L 41 St L IM&S 45 29. St L IM&S R&G 4. StL& ST plds A StL &S Fprin b StL&SFoles D.. StL&S Fadj 6s. StL&S F inc 6s.. StL&SFpl6sC.. StLS W Ist 4s |StLSW con 453 St P Un Dep bs | San A & Arn P 4= Seab A L ref 4 Seab A L adj 5 4, | Seab A L con 63 Seab All FI Sou Pac 4s Sou Pacific ref 4s.. Southern F Sou Ry con is Southern Ry 6 | sou Ry Mo Term Asso Third Ave ref 4s | Third Ave adj os. 41 Tol St T & W 4. Tol Tr L&' 5 | Union F Union F Virginia Ry va Ry & P : Wabash 15t 5s.. Wabash 5145 75.... 7 West Maryland 5. 18 Western Pacific 3s. 3 | West Shore 15t 4s.. 1 546 RECORD CAR.PRODUCTION. August Auto Output Exceeded That for Any Other August. i the weasonal rding Comme nufact i 1 ont 379,111 135 107 46 Bt Penic 43% .. S4% Cuban-Am S (1). automobiles new Production of United S| record during prelimi reports Department tods A during the month turn passen machines trucks, Automobile production for the year to date is well ahead of the previen high-record year. Passenger built in the United States for t months, including August, ind trucks, the same period in 1 was 2,431,202 passenger ars 305,503 trucks. PRICES ON PARIS BOURSE. P'ARIS, (P). Prices moved i Bonrs dav.~ Three per cent rentes, 4% fr | 90 centimes; exchange on London, francs 30 centimes cent loan, francs 20 centimd dollar was quoted at 36 francs 42 centimes, STEEL SHEET INDUSTRY. SW YORK, September 22 () The National Assoctation of Sheet and Tin Plate Manufacturers report that production, shipments and unfilled tonnage of steel xheets by independ makers in August exceeded the quar tities for the month be nid for August last vear were 197 pe nt low than but 18.2 per cent more than Au 19 Unfilled orders September | 837 tons 51 the set Angust ) the 107 100 101 100 al Pipe. . o Utl PELt A (e2). nadium (3 “anRaalt 151( ya-Caro Chem Vivadou (3). 100 447 100 101 44% - &7 = W BRRCREIRE~ONARRRE RN o= DD W N - Pierce- Pie: Pierce Pero Pitts Coal Pitts Coal pf.. I pitts & W va Postum (5) Pressed St Pr Stl Car p! Refiners. other bonds 14405 41t : 6] BUTTER UNCHANGED. CHICAGO, September 22 (#).—But- ter—Unchanged: receipts, 5,384 tubs ggs — Unchanged:. receipts, 5,155 Wabash... Wabash pf A(5). Waldorf (1% ) Walworth (1)... | Ward Baking B. | Sarner Bros. ... 50% | W Penn E1A (7). 96% West PFIpf(7). 100 n 207 16 31 ® N0 coto s m the num For output and 314 3140 107 107 <118 118 967, - . 100 DIVIDENDS. i, Rate. hele pih N i Dupont deb (6). man (43). Railroad is asl — for bids October 4 on 160,000 tons of | ¥ I L open hearth steel rails with the option | F 9 6 to increase the quantity to 200,000 | F 10 tons. [Aber & st [Am o of | Bk West ¥ West 1 West A Bro Westin Wheel & L Torie. Wheel & L1 pf . White Eagle (2) White Mot (4) M pfi4). Willys-Overland Wilson & Co. . Wilson A (ne: Wilson pf new. | Woolwth FW (15 180 . | Worthn Pump. .. 2 K ; ) EEDs Worthtn B (§).. 5 - . [ g i irbanks = 47 +! Satety Cable (4) Wright Aero (1) 31% § Al St Joreph L(t) .. 4 . o dlLight StL & Sankr (1) 98 (1. 104 Sth-Sankra pf(7 Younz:iown (4). 87 St L Southwes 69 | 1015 eptember larly on the 69% 101% aR 102% 103 7 99% 859, | i % | Radio Corp of A. | Klec Refriz & RS Gefs (4) lec Sto Bat(+6) nrsn-Br pf cfs o ohn (5). 66 gineers PubS 21 t 2. 0 ons Ingnrs PS pf(7) 94t inst 123,140 tons in July. Au- | EhEOe TS BICEY ¢ utput in the United States was | Equita st 47,796 nth | Brie R R. inst 47,796 the mon! S ie 2d pf . PRODUCTION OF LEAD. . September 22 (®).— | B f lead in August short tons, World cale Reynolds Spngs. 22 Rey Tobac B(3) Robt Reis & O BAfi K VCLEARINGS. YORK. ). New York 000,000, New York I 100, New York Bank credits $7 September bank clearings halanc Federal R 000,000. ) : Hourly S N | iow ‘ 3 o o 1 Merv Gas blas 64. rve 4 | - - - Nemingtn Arms 6s. Fleischmn(1215) POTATO MARKET FIRM. CHICAGO, September 22 (P).—Po- s cipts, 108 cars; on track, | ¢ total United States shipmen market firm on sl stock: trad. i fair: Wisconsin cked und ¢ whites, best., 1 10: poor. 1.40al bulk, 1.25a1.90 ling te quality snd condition: Minnesota, sicked River, Ohios, 2.00a2.1%; ldahe Burals, 2.00a ta an. 581 ing undation (8) Fox Film A (4). Freeport-Texas. iardner Motor. . n Am Tnk (3) n Asphalt. ... en Asph pf a4 4dn Nt Erave(el.20) ATs-R (1 attuck F G ( exira ur special divi < aPaid in” in rtocly wile o car ok o siock. TP i lus 2% “ha ok in stock. a i dend dec that Lme. Nharon St1 H 8s. ... Sinelair Of1 6s. . Sinelair Of 6138, Sin Pipe Lne bs. Skelly O 54 Southwest Bell 5s. Sug st Orfent 7s.. 22 Tenn Elec Pow 65.. 2 Toledo Edn 1st 7a,. 6 108 10! 107% 108 102 92% 98U 100% 93 138 1025 97% 105% 108 “Pittsburgh mills find indication that in a few lines operations in the fourth quarter will be somewhat less than in the three months now ending. (on siderable activity in fourth quarter contracts in plates, shapes and ba has developed iff the past week, pric being in the main the same that have obtained since June.” The Iron Age composite prices remain unchanged Finished steel is 2.439 cents per pound and pig iron §19.16 per gross ton. - against month before and 46 Sep tember 1, 19 p A, RUBBER UNCHANGED. NEW YORK. rmber 2 cial).—Crude rubber, ribibe sheets, stood unchan t today's noon quotation of 413 This com pareg with 10% a month ago and 933§ e year ago. on (Spe