Evening Star Newspaper, September 26, 1926, Page 36

NEW YORK STOCK EXCHANGE WEEK ENDING SEPTEMBER 25, 1926. Y #ou® period 3 year ago 26— Low. Stock and dividend. 62 Abitibi Power & P (4) : 43 Abraham & Straus... 90 Adams Express ( 10 Advance Rumely 47 Advance Rumely p 7% Ahumata Lead (t1) 86% Air Reduction (5) 7% Ajax Rubber. 1 Alaska Junea 5 i 80 Allied Chem & Dye (4)... 147 122% 117 Allled Chem & Dye pf(7). 121 97% 71% Allis-Chalmers Mfg (6).. 110% 103% Allis-Chalm Mfg pf (7).. 22% 16 Amalgamated Leather. 102 Amal Leather pf (7). 82% 24% Amerada Corpn (1.60) 13% Am Agricultural Chem. 36% Am Agricultur] Chem pf. 34% Am Bank Note (1.60).... 20% Am Beet Sugar. . 59% Am Beet Sugar pf 16 Am Bosch Magneto. 90% Am Brake Shoe & Fy (6). 143 30% Am Brown Bov Elec (2). 86% Am Brown Bov El pf (7). 38% Am Can (2). 126% 115 Am Canpf (7).. 3 115% €1% Am Car & Foundr. . 120% Am Car & Foundry pf(7). 221 Am Chain Class A (2). 87 Am Chicle (3) 4% Am Druggists Syndicat 105% Am Express (6) 15% Am & Forelgn Power.... §6% Am & For Power pf (7). 102 Am & For Pw 25% pd(7). 7 Am Hide & Leather.... . 3315 Am Hide & Leather pf. 24% Am Home Pr (2.40). 82% Am Ice (+10) 7414 Am Ice pf (6) 20 Am Linseed 53 -Am Linseed pf (7) 90% Am Locomotive (8} . 115 Am Locomotive pf (7) 4 71% Am Machine & Foundry.. 45% Am Metal (4).. . 93% Am Plano pt (7). 50% Am Power & Lt (g1). £9% Am Radifitor (4)........ 76 Am Railway Express (8). 48 Am Republics. 36% Am Safety Razol 5% Am Ship & Commerce. 90% Am Smelting & Refin (7). 105% Am Smelt & Refin pf (7). 122 AmSnuff (12).........e. 37% Am Steel Foundries (3).. 108 Am Stl Foundries pf (7). 47% Am Sugar Refining (5)... 91 Am Sugar Refining pf(7). 29% Am Sumatra (new)... 25% Am Telegrh & Cable (5) 130% Am Tel & Telegraph (9) 85 Am Tobacco (8). 8414 Am Tobacco C1 B 104% Am Tobacco pf (6) 4 103 Am Typefounders (8). 102 Am Typefounders pf (7). 34% Am Water Works(c1.20). 98 Am Water Works pf (7). 66 Am Woolen pf (7). 1% Am Writing Paper pf.... 1% Am Writing Papr pf ctfs 5% Am Zinc Lead & Sm. 20 Am Zinc Lead & Sm pf... 85% Anaconda Copper (3).... 26 Archer-Daniels-Midland. 9014 Archer-Daniels-M pf (7). 90% Armour&Co of Del pf(7). 13% Armour & Co of Tl1 (A).. 5% Armour & Co of 11l (B).. 18 Arnold Constable & Co. .. 89 Artloom (3) 37% Assoc Dry Goods (2%) 101 Assoc DryGood 2d pf (7). 32 Associated Oil (12.40)... 116% Atch Top & Santa Fe (7). 9214 Atch Top & S Fe pf (5) 15 Atlanta Birm & At. . 147% Atlantic Coast L(19%).. 20 Atl Guif & West Indies 81 Atl Gulf&West Indies p! 9515 Atlantic Refining........ 113% Atlantic Refining pf (7).. 45 Atlas Powder (4) . 9 Atlas Tack... 8 Austin-Nichols. 64 Austin-Nichols pf (7). 927% Baldwin Locomotive (7). 121 105 Baldwin Locomo pf (7).. 111% 71 Balt1 & Ohlo (5).. . 108% 627% Balti & Ohio pf (4). 8% 83 Bangor & Aroostook 43% 85 Barnet Leather. 478 18% Barnsdall CLA (2). 16 BarnsdallC1 B (2). 881 Bayuk Clgars. 9315 Bayuk Cigars 1st pf (7). 5314 Beech-Nut Packing (13). 2914 Belding Brothers (3) 37 Bethlehem Steel... 931 Bethlehem Steel pf (7) Bloomingdale Bros Booth Fisheries 1st pf... Botany A. % 0 25 n E 3514 Broowlyn-Man Tr (4). 727% Brookn-Manhat T pf (6). 68 Brookn Union Gas (111). 2915 Brown Shoe (2)....... 23 PBrunswick-Balke-Collen. 3 Brunswick Ter & Ry Sec. 9214 Burns Brothers Cl A(10). 65 Burroughs Adding (14).. 14% Bush Terminal . §0 Bush Terminal deb (7)... 41, Butte Copper&Zinc(50e). 613 Butte & Superior (2). 17 Butterick Company ac E Petroleum (2). inc & Lead. ... t & Arizona (6) ot & Heela (138). .. ¥ Ginger Ale.. adian Pacific (10).. e (J 1) Thresh Mach. . 0 Case (J 1) Thres M pf(7). 31% Central Alloy Steel 71 Central Leather Ce 431, Cent Leather Co pf. iy 3 23% 71 rtury Ribbon Mills. ... ro dePasco Copper(4). eed Products(4) 891, Certain-tdProd 1st pf(7). 11% Chandier-Cleveland. . 28 Chandler-Clev pf (4) 891, Chesapeake & Ohto (112) 4 Chicago & Alton £14 Chicago & Alton pf us, Chicago & East Illinols hi M&St P pf ctfs of dep 4 Chi & Northwestern (4) .. 1013, Chi & Northwestn pf (7). $0% Chi Pneumatic Tool (5).. 404 Chi Rock Island & Pacific. Chi Rock Isl & Pac pf (6). 1s1 & Pac pf (7). "0 (32.40). . Corper (234) . ppf(8)..... 1 ittsburgh(3%). Sluett-Peabody (3)...... Cluett-Peabody pf (7). 80 Coca-Cola (7). 24% Collins & Aikman A 98% Collins & Aikman pf (7). » Colorado Fuel & Iron..... 431 Colorado & Southern. ..., a Gas & Elec (5). 80 ColGas& 5).. 1044 Columbia Gas pL(7) 5 Columbian Carbon (4). ¢ Commer Credit (2)... Commer Credit pf(1%) Commer Cred 1st pf(64). 89 Commer Inv Tr pr (63%).. 76 Commercl Solvents B (8) 123 Congoleum-Nairn. .. 40% Congress Cigar (3) v. 2614 Consolidated Cigars (7). 13 Consolidated Distributor. 7414 Consolidated Gas (5) 1% Consolidated Textil 73 Cont Baking A 11 Cont Baking B. 90% Cont Baking pf (8). 603 Continental Can (16)..... 144% 103 Continental Insuran (6). . 15% 8% Continental Motors (80¢). &% 32% Corn Products Ref (12%) A 103 £9% 19 a5n, P74 90 89 High. Low. Close. 96% 92% 96% 56% 137 120% 120% 874 88 109%1110 18% 18% 109% 109% 7,775,808 329,366,187 Zast Week. Year to Date. ‘ 7.414 601 801.048.317 31% - 15% 5213 40% 102% 144 $146% 121% 122 121% 110% 116% L+ LT FEF Pht+ 1 I+l 4+t 4+ ++ LA+ Ll 1+ N FUb+l I+ 04++11 Vit d 4 +4+ 1+ (BT ASAE SNE L, ++1 11 80 . 82y 113% 114% +4 Pl 4++ 00+ 1+ P4+ 140 11+ e P ) FEOES Average price of 50 stocks Same period a year ago ~1925-26— Lew. 139.16 109.68 . 12622 10116 Net. High. Low. Close. Chge. 62% 366% + 3% +1 28% % + % 21 98% Crown Wil 64 Crucible Steel (5)..... 92 Cructble Steel pf (7). 7% Cuba Cane Sugar. 85% Cuba Cane Sugar pf. 80% Cuba Company (4). 20 Cuban-Amercan Sug (1). 15% Cuban-Dom Sugar (new) 71 Cudahy Packing (7)... 62 Cushman’s Sons (3) 42% Cuyamel Frult (4). 27% Davison Chemical....... 133% Delaware & Hudson (9).. 180% 126 Delaware Lack & Wn (17) 144% 35 Denver & Rio Gr West pf. 43% 110 Detrolt Edison Co (8).... 137 33% Devoe & RayndsA(2.40).. 21% Dodge Brothers Class A. . 78% Dodge Brothers pf (7)... Douglas Pec (2). 134% Dupont de Nemours (14). 320% 94 Dupont debentures (6)... 107% 105 Duquesne Light 1st pf(7) 115% 106% Eastman Kodak (18)..... 119% 10% Eaton Axle & Spring (2). 7 11% Eisenlohr & Bros. .. 61% Elec Auto Lite (16%) 4 Electric Boat... 8914 Elec Pow & Light pf (7 99% El P&L pf ctf 40% pd(7). It 59% Elecric Refrigeraon(£2) 60% Electric Storage Bat (16) - 7% Elk Horn Coal. . 16 Elk Horn Coal pf. 1% Emmerson-Brant ctfs. 8 EmmersonBrpfetfs. ... 63% Endicott-Joanson (5) 101 % 110% Endlicott-Johnson pf (7). 20 Engineers Public Service 94% Engineers Pub Ser pf (7) = 2 22% Erie. 33% Erie 1 80 Erfe2dpf... 43 EurekaVacuum 26 Fed Lt & Trac (*1.40) 49% Fed Mining & Smel pf 24% Federal Truck 5 147% Fidel Phoenix F Ins (6) 80 First Nat Stores (1%).. 10% Fisk Rubber......... o 94 Fisk Rubber 1st pf cv(7). 76% Fisk Rub 1st pf stpd (7). 82% Fleischmann Co (12%) 85 Foundation Co (8).. 55% Fox Film Class A (4). 101% Franklin Simon pf (7) 8 Freeport-Texas. ... 28% Gabriel Snub (16) 4% Gardner Motor. . 39 Gen Am Tank Car (3) 423 Gen Asphalt 86 Gen Asphalt pf (5). 46 GenClgar (4).... 79 General Electric (H3). 10% Gen Electric Spec (60c). . 84 Gen Gas & Elec A (E1%) 95 GenGas& Elec7% pfA.. 105% Gen Gas & Elec 8% pf A. 48% 41 GenGas (B)....... 225% 64% General Motors (116) 120% 102 Gen Motors pf (7). . 35% 26% Gen Outdoor Adv (2). 56% 45% Gen Outd Adv ClA (4)... 93% 60% Gen Rwy Signal (14%) 83 45% Gimbel Brothers..... 114% 102% Gimbel Brothers pf (7). 26% 123 Glidden Company (2). 37 Gold Dust 36% Goodrich (BF) Co (4)... 100 113 47% Gotham Hos new (23%). 83% Gotham Silk Hos (2%)... 98, Gotham Silk Hos pf (7).. 16% Gould Coupler C1 A (3)... 13 Granby Consolidated. 60 Great Northern pf (5) 19 Gt North Orectfs (1%).. % 89 Great Western Sugar (8). 1 118% 107 Great West Sugar pf (7). 1 2214 9% Greene Cananea Copper 10% - 8% Guantanamo Sugar. .. 39% 23 Gulf Moblile & Northern. . 109% 89% Gulf Moblle & Nor pf (6). 1 95% 62 Gulf States Steel (5) 109% 101% Guif States Steel pf 42% Hanna (M A) 1st pf. 26% Hartman (B).... 24 Hayes Wheel (13%)... 66 Helme (G W) (16%) 17% Hoe (R) & Co Class A. 48 Homestake Mining (1) 843% Housenold Prod (13%). 50% Houston Oil... 16% Howe Sound(4).... 21% Hudson & Manhat (2 88% Hudson Motor (3%) 14% Hupp Motor Car (1) 111 Illinois Central (7). 13% Independ Oil & Gas (1). 13 Indian Motorcycle (2) 5% Indian Refining. ... 6 Indlan Refining ctfs. 77 Ingersoll-Rand (t4) 34% Inland Steel (214) 20% Inspiration Copper (2). 18% Interboro Rapid Transit. 18% Intercontl Rub (1)... 7% Internat Agricultural. 40 Internat Agri prior pf(7). 88% Int Business Machine(3) 811 493 Internat Cement (4)..... 107 102 Internat Cement pf (7).. | 69% 31% Internat Comp Eng (2).. 138% 96% Int Harvester (6).. 126% 113% Int Harvester pf (7). 66% 14% 52% 48Y% 67% 99% 334 {144 6 Internat Mer Marine 27 Internat Mer Marine 24% Int Nickel (2). 443 International Paper 86 Internatl Paper pf (7)... 18 Internat Rys of Cent Am. 87% Internat Tel & Tel (6).. 43% 161 Jewel Tea. 125 1181 Jewel Tea p 21% 10% Jones Bros Tea 66 19% Jordan Motor. 112% 99 Kan City Pr&L 1st pf(73. 51% 28% Kansas City Southern. .., 57 Fansas City South pf(4). 1% Kansas Culf. 18% Kavser(Julius)& Co(3) 12% Keily-Springfield Tire 46% Kennecott Copper (4). 1% Kevstone Tire & Rubb 41% KiLaey (G R) Co (4). £ Kinney (G R) Co pf (8) 261 Kresge S S (1.20). 15 Kresge Dept Stores. 110% Laclede Gas (8).. 19% Lago Oll & Transport 391 Lambert Co (3%).. 6% Lee Rubber & Tire. ... 30% Lehn & Fink (3). 17% Life Savers (L. 57 Liggett & Myers (14). 55 Liggett & M CIB (14).... 1161 Liggett & Myers pf (7). 531 Lima Locomotive (4). 45% Liquid Cardonic 22 ‘Loews Inc (2). 6 Loft Inc 42 Long-Bell Lum Cl'A (4. 77 Loose-Wiles Biscuit. .... 1 104 Loose-WilesBis 2d pf(7). 29% Lorillard (P) Co (§2) 12 Louisiana Ol Refining. 22% Louls Cas & EI CI A(1 106 Louisville & Nash(16%). ~ 80% Ludlum Steel(2)... 72 McCrory Stores B (15.60) 16 McIntyre Porc Mines (1). 103% Mack Trucks (6) o 104 Mack Trucks 1st pf (7).. 99 Mack Prucks 2d pf (7) 66 Mackay Cos pf (4) 69% Macy (R H) & Co. 115% Macy & Copf (7). 'ma Copper (3) 15 inson & Co. . 65 Manati Sugar pf (7) 42% Manhat Elec Supply (5) 824 Man Elev mod gtd (d5). 20% Manhat Shirt (1%). 274 Manila Elec Corp (2). 20% Maracatbo Oll Explora 4% Market St Ry 3914 Market St Ry pi 32% Marland Oil (4)... 10% Marlin-Rockwell (2) 1 | 87T 17 Martin-Parry (2). 3% | 107% 51 Mathieson Al 4). % [139% 101 May Dept Stores (5) l%l 26‘% 19 Maytag Co (2) 67 . 119% 21% 9415 99% Equitable Of Bldg pf (7). 123% 5 90% Famous Players (J10)... 117% 108% Famous Players-L pf(8). 120 38 2! 45% 96 Gen Am Tank Car pf (7).. 104% 87% 78! 20% 00 15% 20% T4 37% 07% 1% 12 53% Internat Match pf (3.20). 21 9% 44% 34 26% 15% 106% 100 4% 34% 178% 144 % 2% 116% 119% 1 23% 39% 2 8 7 1% 128% 22% 23 FERERU»S 1T 14+ $91+1 %, P : + & +4++ FIEFTPIVEGEINER) & NN R R A ] TI+1 1 i+ 0+ 04+++10+ 11 f +l++1F+ 4101011+ 41t 4+ - *f T4+ 11 %) I¥4++4++ 1 +++ 11+ 1+ 1++11 #¥ELIT L=+ % 2141 il 4 ¥ » % 8% 1% % 3% 2 - & 22”2 see PEVsose 2Rpa2 T 5 £ - sesss S sFesss erorere FEFEFE FEEX Po ResaeE UUEE Rex 2 s¥e s ¥ e & P p " essas" B8 x5 st 8sE 2asrsdle “a TWO D. C. BANKS HERE WHEN CITY'S POPULATION WAS 13,000 National of Washington and Metropolitan Did Business Here in 1822—Loans Hard to Get in Those Days. BY I. A. FLEMING. ‘Washington's first city directory made its appearance in the Capital in 1822, a matter of 104 years ago, not a long time, easily measured in the lifetime of two generations. And yet such a comparatively short time ago the city had a population of but 13,000, of which 9,606 were whites and the rest colored, free and slaves. It may be interesting to note that at that time Detroit had a population of but 1,422, Baltimore 62,731, Buffalo, 2,000, and many Southern cities, 2,000 to 3,00, while Chicago and the Middle Western cities of import today had not been founded—mere trading posts. ‘With her 13,000 people, Washington had four banks, or one bank to every 3,260 people—white, slave and free colored. During the century interim banks did not increase numerically in any- thing like the ratio prevalent at that time, else would we have had four %|times as many banks as we have today—and the banking fraternity holds that there are more than enough_institutions for the business requirements now. The Four Banks. Ot course there were no national banks at that time nor until the necessities of the Civil War brought Hugh McCullough to the front and during his term of service the enact- ment of the national bank act, a noble plece of legislation, sadly needed at the time, when gold and silver had practically disappeared, when °shin plasters and the dishonored bills of “busted” banks furnished the cur- rency of the country. Two banks doing business in Wash- ington today were in existence in 1822, both national banks today—Na- tional Bank of Washington, of which George L. Starkey is president (then the Bank of Washington, stood on Capitol Hill nearly opposite the center of the west side of the House Office Bullding) and the Metropolitan Bank, George W. White, president. In 1822 this bank was known as the Bank of the Metropolis and stood almost on the same lots where the present or- nate home of the bank is located. John P. Van Ness, an aristocrat of the aristocrats, was then president of the. Bank of the Metropolis. He also played an important part in the so- cial and political world of his day. His almost regal features look down on his successor and seem to chal- lenge the directors at their weekly meetings to guard well the institution that he left them. Then Mr. Van Ness gahered his directors around him once a month. Samuel H. Smith was president of the Bank of Washington, with Wil- liam A. Bradley cashier. The names John Davidson and W. A. Bradley seem to indicate that there may be relatives listed in this year's direc- tory. They were directors in.the Bank of Washington. So, too, in the Metropolis directory we find such familiar sounding names as Willam Worthington, Matthew Wright, George W. Adams and John Boyle. . Other Banks. The Patriotic Bank, Joseph Pear- son, president, did business. on the Avenue between Ninth and Tenth streets. Its directory included Robert Y. Brent, Phineas Bradley, Daniel Carroll, William Gunton and Timothy ‘Wynn, among’others. The fourth institution was a branch of the United States Bank, corner of F and Thirteenth northwest. George Graham was president: R. C. Weight- man, William W. Wirt, John Laird and Washington Bowle were-among the directors. The United States Bank, later forced out by President Jackson, elected di- rectors with the opening of the year, the others at the opening of the fis- cal year, July.1. The directory gives no information as to the capital or deposits of these institutions. It was by no means &s a matter to borrow money back in 1822 at the places where they rent- od money as it is today, even though the applicant possessed the required high-grade credit, or, what is even more desirable, approved collateral. One day in each week notes were discounted, so that it- may be pre- sumed that applications had to be made one week and action not expect- ed until the next week; or applications were filed between discount days, and then acted on, after the discount com- mittee of the directors had scrutinized the application. Discount day must have found many worried applicants anxiously awaiting the verdict of the day. There {8 a_difference between a loan and a note discounted—a matter gen- erally understood and yet occasionally of Frederick May, George Blagden, unrecognized. On notes for small ~1025--26— Stock and dividend. Metro Go!dwin pf (1.89). Mexican Seaboard. o Miami Copper (1).. Mid-Continent Petroleum. Mid-Continent Pet pf (7) Middle-States Ofl. . Z Middle States Ol ct: : Midland Steel Pr pf (19). Millér Rubber ctfs (2)... Minneapolis & St Louls. . Minneapolis StP&SSM Missour] Kansas & Tex. . Mo Kansas & Texas pf (6) Missourl Pacific. Missouri Pacific pf. Montana Power (5) . Montana Power pf (7)... Montgomery Ward. ... Moon Moters (3) . Mother Lode Coalit (%). Motion Picture (1%) % Moto-Meter Cl A (3.60).. Motor Wheel (2)... Mullins Body. . Munsingwear (3) Murray Body . . Murray Body ctfs. Nash Motors (13)... Nat Acme (stamped) Nat Biscuit (14%) Nat Biscuit pf (7). Nat Cash Register (3).. Nat Cloak & Suit. ... Nat Cloak & Suit pf (7).. Nat Dairy Products (3).. Nat Dept Stores Nat Dept St 1st pf (7). Nat Distillers Products. . Nat Distillers Prod pf. Nat Enam & Stpg Nat Lead (8)... 5 Nat Lead pf (7) . Nat Power & Light (80c). Nat Rys of Mex 2d pf.... Nat Supply (4).... Nat Tea Co (4). Nevada Consol Cop (1) New Orl Texas & M (7).. N Y Alr Brake (3). S N Y Canners (C2) N Y Central (7). = N Y Chicago & StL (11).. N Y Chi & St L pf (6) N Y Dock.... N Y Doc pf (5). N Y& Harlem (5) c N Y New Haven & Hart. . N Y Ontario & Western N Y Rwys (2d stpd). N Y State Rallways. .. NY State Rys pf. . N Y Steam 1st pf (7). Niagara F Pw Co pf(1%) Niag Lock&O Pwr pf(7). Norfolk Southern Norfolk & West (t North Am (b10% socl North Am pf (3).... North Am Edison pf (6).. Northern Pacific (5)..... Norwalk Tire&Rub(80c).. Nunnally Co (1%) 0i1 Well Supply (2) Omnibus Corp. .. Onyx Hosiery (3.20).. Onyx Hoslery pf (7). Oppenheim Collins (3)... Orpheum Circuit (2). . Orpheum Circuit (pf (8). Otis Elevator (6). Otis Steel.. . Otis Steel pf Otis Steel prior pf (7). Outlet Company (13%).. Outlet Company pf (7)..¢ Owens Bottle (t4)... . Pacific Gas & Elec (8). Pacific O1l Stubs. . ... Pacific Tel & Tel (7). .... Packard Mot Co.(12.90) .. Paige-Det Mot Car(1.80). Pan-Am Pet & Trans (6). Pan-Am Fet & T CL B (6). Pan-Am West Pet B (2).. Panhandle Prod & Ref. Park & Tilford. Park Utah (60c). Pathe Exch, CLA (¢3). Penick & Ford.. ... Penick & Ford pt (7)..... Pennsylvania Rallrd (3). Penn Seaboard Steel . Peoples Gas Chicago (8 Pere Marquette (18) . Pere Marquette pf (5). Pere Marquette pr pf(5). Phila Co (4). . Phila Co pt (3). Phila & Reading C&1 Philip Morris & Co....... Phillips Petroleum (3)... Phoenix Hosfery.... Phoenix Hoslery pf (7) Plerce-Arrow. ... Plerce-Arrow pf (8). Pierce Oil Plerce Petroleum Pitts Coal. Pittburgh - Pitts Steel pf (7). » Pittsburgh & W Va (6).. Postum Cereal (5). Pressed Steel Car... Pressed Steel Car pf (7).. Producers & Refiners. ... 27 Producers & Refiners pf.. 62% PublicService NJ (5).... 96% Public Service pf (6)..... 99 Public Service N J pf(7). 9214 Public Ser E1&Gas pf(6) 129 Pullman Company(8).... 33 Punta Alegre Sugar... 26% Pure Ol (12)......... 32 Radio Corp of Am % 44% Radpi Cor of Am pf(3%). 68% R R Sec 111 Cen ctfs (4).. 32% Rand Mines (al.52) . 10% Ray Con Copper (25c). .. 69% Reading (4) 35% Reading 1st pf (2). 36% Reading 2d pf (2) 41% Reld Ice Cream (3) 46% Remington Typewriter 8% Replogle Steel s 423 Republei Iron & Steel(4). 841 Republic Iron & St pf(7). 5% Reynolds Spring. 72% Reynolds Tobacco 7% Robert Reis& Co. ... 48% Royal Dutch (a3.078). 42 Rutland pf.. 421 Safety Cable (4). 35% St Joseph Lead.(13)... 57% St Louis-San Fran (7). 76 St L & San Fran pf (7) 43% St Louls Southwestern. .. 70% St Louls Southwst pf (5). 48% Savage Armis (4).... . 42% Schulte Retail St (§8).... High. Low. Close. Chge. 23% % 119% 36% 1% 41% 38% 94 Net. Chge. 1 2 Net. | ~1925--26— h. Low. Stock and dividend. 20% Seaboard Air Lin 81% Seaboard Air Line pf. 12% Seagrave (e1.20).. . 44% Bears, Roebk & Co (2%). 4% Seneca Copper. .40% Shattuck (Franl . 89% Shell Tr&Trad (a2.17%). 21% Shell Union O1l (1.40). 991 Shell Union O1l1 pf (6). 51% Shubert Theater (5).eees 381% Simmons Co (12%)...... 15% Simms Petroleum (1). 17 Sinclatr Consol Ofl. . 78% Sinclair Consol Oil p£(8). 21% Skelly Ofl (2).......0... 80% Sloss-Sheff Steel & Ir (6). 92 Bloss-Sheff 8 & Ir pf (7).. 1 62 South Porto Rico Sug( 80% Sou California Edison. ... 43 Southern Dairfes A (4).. 22 Southern Dalries B . 96 Southern Pacific (6)..... 77% Southern Rallway (7). ... 83 Southern Railway pf (5). 15% Splcer Mfg 40% Standard Gas & El (g3). 50% Standard Gas & E1 pf (4). 62 Standard Milling (5)..... 52% Standard Oil Cal new (2) 38% Standard Oil of N J (1)... 116 Standard Ofl of NJ pf(7). 4% Standard Plate Glass 62% Sterling Products (5). 55 Stewart-Warner (6). 597 Stromberg Carburet (6) 41% Studebaker Co (5)... 112 Studebaker Co pf (7) 1% Submarine Boat. .. 80% Sun Oil (71)...... 1 SuperforOfl....... 19% Superior Steel (2)..... 5% Sweets Co of America. 7% Symington ¢ 16 Symington Class A (2) 11 Telautograph (60c)..... 7% Tenn Copper & Chem (1). 42% Texas Co (3) 97% Texas Gulf Sulphur (10). 42 Tex Guif Sulphur (new). 4214 Texas & Pacific. . ... 10% Texas & Pac Coal & O 210 Texas Pac Land Trust, 27% The Fair (2.40).... 18% Third Avenue. . 42% Thompson J C (3.60) 30 Tide Water Ofl (1%) 90 Tide Water Oll pf (5). 37% Timken Axle (16%). 70 Tobacco Products (7). 93% Tobacco Prod C1A (7) 3 Transcontinentsl Oil. . 68 Twin City Rap Tran (5). 38% Underwood Typewr (4).. 115 - Underwood pf (7). 85 Union Bag & Paper 78 Union Carbide (5). 33 Union Oil of Cal (2). 133% Union Pacific (10). 73% Unlon Pacific pf (4). 84% Union Tank Car (5). 60% Utd Cigar Stores (c2) 110% United Drug (8). High. Low. Close. 3% 34% 37 13% 56% ' B% $69% 23% 10% 16% 81 93% K3 1% % % % % % % % 4 1% 1 % % % 1% 2% % % % W 1% % W I+ L1+l 1+++ +1 1410 2 sersssee syess © 50% 105% 1083 125 1128% 92% 194 24% 56% 56% 72 60% 42% FEsE i - LER Lk @ & i - i 2 % ¥ % 1+id++ 1 I+1+++++1 1144431012110 4+44]) @ 1% 2% % % % L++ 1+ 12 % 11% — 1% 561+ 2% +10% % 46 Y% 2% Y% % 1 [ 2% 1 R I oy A B S Ll ++4100 ++ 1% 2% % 2% 3 P+ b+ + FHEEt A - FEER # United Fruit (4)..... 18 United Paperboard (2) 113% U S Cast I P & Fdy (10). 80% U S Distributing. 3% U S Express. .. 23 U S Hoffman (13%). 45% U S Industrial Alcohol 99% U S Industrial Alco p£(7). 481 11 S Realty & Imp (4).... 83% U S Rubber ‘oo 92% U S Rubber 1st pf (8). 30 U SSmeltRef& M (3% 44 USSmelt R&M pf(3%). s 112% U S Steel (7) 122% U S Steel pf ( 511 U S Tobacco (3). 90 Univer Pict 1st pf (8). 13% Univer Pipe & Radiator. . 52 Univer Pipe & Rad pf (7). 28% Utl Pow & Lt A (e2)..... 26% Vanadium Steel (3). . 12% Van Raalte 58 Van Raalte 1st pf (7). 44% Vick Chemical (3%) 89 Vicks Shrevept & P pf(3). 10 Virginia-Caro Chem..... 89 Va-Carolina Chem pf (6) b62% Va-Carolina Chem pf (7) 80 Va Iron Coal & Coke..... 26 Vivadou (3)...... 94% Vivadou pf new (7). 19% Wabash.......... 55% Wabash pf A (5)........ 14% Waldort System (1%)... 124 Walworth (1)......... 24% Ward Baking Class B. 90 Ward Baking pf (7). 12 Warner Bro Pic C1 A 43 Warren Bros (4) 51 Weber & Heilbro: 88% WestPenn Electric A (7). 9514 West Penn Elec pf (7). .. 104 West Penn Power pf (7). 11 Western Maryland...... 16 Western Maryland 2d pt. 19% Western Pacific. ........ 72 Western Pacific pf (6)... 116% Western Union Teleg(8). 97 Westinghse Alr Br(17%) 65 West'house E& M (4)... 9% Weston Elec Instrument. 18 Wheeling & Lake Erie. .. 22 Wheeling & Lake Erie pf. 25% White Eagle Oil (2). 51% White Motors (4). 26 White Rock (2). - 47% White Sewing Ma pf (4). % Wickwire-Spenc Stl ctfs. 9% Willys-Overland. ....... 72% Willys-Overland pf (7).. 6 Wilson & Conew... 14 Wilson & Co A (new). 42 Wilson & Co pf new.... 112% Woolworth F W (15). 20% Worthington Pump. 53 Worthingn Pump pf B(6). 16 Wright Aeronautical (1). 45% Wrigley (Wm Jr) (14)... 60% Yale & Towne MIg (15). 20 Yellow Tr & Coach (72¢ 3314 90 Yellow Tr & Coach pf(7). 104% 63 YoungstownS&T (4)... 88 RIGHTS—EXPIRE. % Consolidated Cigar. 2% Peoples Gas Lt & Col 16% Reading Rwy Jan 1°97. Dividend rates as given in the above P pa b T S b “Partly stock. {Partly extra. \ble in & 4% in stock payable 1% quarterly. k this year—no regular rate. b 10% in common stock payable cPlus 5% in etock. d Payable when earned. cash or stock. fPlus 2% % in stock. ¢ Plus S1 in special stock. iPlus $¢ I @ E3 o i+t FEF FEFESF F¥® - ® - ¥ T+ +1 LI+ ey 22E"™ - & bt Yiesk § +) 1} ++ 0 ;fH oo e o I+ 144+ ++ 14+ + LIttt rtttet 0] - e ® o FIPS FFEEFIEF SR+ - L4++ +++1 1 6214 | FEE FEFEE Ey¥ ; FEFPERR FREFF I+ + 14+ $8E FEFL o= 11++ - (R ©Q 1Plus 3% wi amounts it doesn’t make much differ- ence if discounted, but on large loans & discount, or the taking off of the amount of interest to be earned dur- ing the entire life of the loan in ad- vance, at the time of making the ac- commodation, makes a serious short- ness in the actual loan, and the four banks here in 1822 all discounted their accommodations to merchants and others. . Stock brokers, legitimate and other- wise, now very numerous in the city, were not represented in 1822, al- though the bankers of that day might have found an investment if pressed, though there were few corporations large enough to require heavy loans. Real estate mortgages were prob- ably available, but as that was before the houses in Washington were dig- nified by numbers, but were described as “frame dwlg between 9 and 10 on the N Avenue,” ‘‘next Brown's, on the Avenue”; ‘“next Brown's boarding house,” etc., this business could not have been large. City Incorporated. ‘Washington was an incorporated city back in 1822, diyided into six wards, and officered by a mayor, regis- ter, clerk to the mayor and many minor officers, with aldermen and a common council, just like Chicago or some other big town. They. had a board of guardians for the poor, & board of health, with 2 members from each ward, a board of appeal of 4 members, commissioners for buflding city hall and for drainage of low grounds, 8 tax collectors, 6 police constables, 6 managers of city lot- teries, 8 in charge of burial grounds, 16 school trustees and 38 other elec- tive and appointive officials, and the people had no trouble in voting early and often. Thomas Carberry was mayor of the city, Willam Hewitt, register, and Thomas L. Noyes, clerk to the mayor. With Their Boarding Houses. The fnitlal pages of the directory’ contain a list of the members of the Seventeenth Congress, ‘“with their boarding houses.” Today the direc- tory gives their residences. In 1822 Peck’s Hotel in Georgetown housed many of the members of Congress, as did Mrs. Hickey's on Capitol Hill, Queen’s Hotel and many other less pretentious boarding houses. Ad- dresses given included a number “op- posite Brown's,” “near Western Mar- ktet." “near Treasury Department,” etc. ‘The Seventeenth Congress did not develop any remarkable men, al- though Martin Van Buren, laf a President, was in the Senate from New York. 2 James Monroe was President, and he resided at the “President’s house.” EARNINGS LARGER. NEW YORK, September 25 (#).— Third-quarter earnings of Motor Wheel Corporation are estimated around $450,000, compared to $417,890 after taxes; in the second quarter. The company’s present steel depart- ment is sald to be working at its highest rate. Net earnings for the year are being put at $1,900,000 by company officlals, which would be about $3.50 a share on the common. COTTON IS EASIER AFTER EARLY RISE Cold Forecast for Belt Failg to Halt Selling in Late Trading. By the Associated Press. NEW YORK, September i Early advances on unfavorable weather reports and talk of a holding movement in the South were fol- lowed by reactions in the cotton mare ket today. After selling up to 14.90, or 21 points net higher and 45 points above the low level of yesterday, De- cember eased off to 14.84 and closed at that figure, compared with 14.78 at the close Friday. The general market closed easy, at net advances of 2 to 9 points. The market opened firm at an ade vance of 15 to 27 points, and sold about 22 to 31 points net higher dur- ing the forencon on covering and buying for a rally, promoted by rela~ tively steady Liverpool cables, lesa favorable weather news and reports that Texas bankers propofe to raise a fund of $100,000,000 te Man farmers on cotton withheld from market. Official predictions for frdst tonight in northwestern sections of Oklahoma, Arkansas and Texas, being the first of the season, no doubt stimulated demand to some extent, but after sell- ing up to 14.79 for October and 15.09 eral apprehension of killing tempera- tures in the Southwest so early in the season, and as soon as demand from shorts slackened the market geemed to lack particular support. The buyers vesterday were among the sellers late. There was also re. newed hedging ielling in the late trading. Closing Lrices were the low- est of the day, with October at 14.63 and January at 14.91. Reports that Texas bankers wera intending to raise a large fund to as- sist in retiring a million bales of the crop from market drew a great deal of attention, which local brokers sald was one of the main factors in the early rally. Private cable advices attributed the relative steadiness of Liverpool to covering with trade calling and Lon- don, continental and Bombay buying, but sald Manchester was bearish and cloth buyers were acting cautiously. The amount of cotton on shipboard awaliting clearance at the end of the week was estimated at 124,000 bales against 121,000 last year. Spain has just approved construc. tion of 627 miles of new lines of rail- ways. Financial Highlights of Past Week. Brought Out in Nutshell by Statistics Special Dispatch to The Star. NEW YORK, September 25, 1926. Stocks (average of 50 issues). Bonds (average of 40 issues) Foreign bonds (average of 10 issues) s Federal Reserve ratio . Money rates in New York: Call . Time . Month of Aug., 1926 3,542, 3 2 103, Unfilled steel orders . Pig iron production .... Building permits: Number of cities. Amount Number .. Liabilities Revenue car loading All commodities Grain and grain p Coal and coke . Forest products . Miscellaneous products Last Week. High. Low. 135.83 134.04 Last Week. 87.50 §7.76 103.37 104.59 This Week. Last Week. Year Agzaé 1.6 72.! This Weelk. High. Low. 135.46 133.58 This Week. Last Week. 41 t0 5 47 to 5 Month of Aug... 19 3,512,86; s This Week. .5 to dlg l4%htos Month of 1926. 41 103,978 468 1443 831,650 $404,355,541 1,513 33,210 THE YEAR 1926 TO DATE ON THE WASH- INGTON STOCK EXCHANGE. Furnished by W. B. Hibbs & Co. Up to and Including Friday, September 24, 1926, Bales. BONDS. $12,000—Ana. & Pot. River R. R. 1st 12,000—C. & P. Telephone 1st 5s. 15,800—C. & P. Tel. of Va. 5s. 214,500—Capital Traction 1st 5s. 6,000—City & Suburban Ry. 1st 5s. 91,000—Georgetown Gas Lt. 1st 5s. 24,000—Pot Kl Power 1st 5s 197.000—Pot. Elec. Power Cons. 9,300—Pot. E! 57,200—Pot. Elec. 10,000—Wash., Alex. & Mt. 4,000—Wash. Alex. & Mt. 3,000—Wash., Balto. & Ana. 1st bs 108,000—Wash. Gas Light Gen'l 5s. 206,000—Wash. Gas Light 6s. 202,500—Wash. Ry. & Elec. Cons. 4s 10014 101 10114 1071 107 12 48,800—Wash. Ry. & Elec. Gen. & Ref. 6s 10,500—Dist. of Col. Paper Mfg. 1st 12,000—Southern Bldg. Co. 6%s 3,800—Wardman Park Hotel 6s. Shares. STOCKS. 5,549—Capital Traction. 4,545—Washington Gas. 225—Wash. Ry. & Elec 3,966—Wash. Ry. & Elec., 2,060—Pot. Elec. Power, pfd... 68 291—Pot. Elec. Power, int. recpts. 262—QOommercial National Bank 124—District National Bank. 20—Farmers & Mechanics’ 374—Federal-American National Bank. 98—Liberty National Bank . * 10—Lincoin National Bank . 23—Metropolitan National Bank. 310—Riggs National Bank.. 37—Second National Bank. 142—Washington National Bank... 419—American Security & Trus 405—Continental Trust. 90—Merchants’ Bank & Trust. 70—National Savings & Trust. 6578—Union Trust 84—Washington Ioan & Trust 30—Sec. Sav. & Com’l ¢ 6—Seventh Street . 30—Washington Mechanics 2—Corcoran Fire Insurance. 1—Firemen’s Fire Insurance 69—National Union. 722—Columbia Title. 43—Real Estate Title 89—D. C. Paper Mfg. 3,257—Lanston Monotype. . 725—Merchants’ Tfr. & Storage. 1,087—Mergenthaler Linotype.. 5,824—National Mtg. & Inv., pfd. 21—N. . Steamboat . 1—Security Storage . 40—Washington Market . 65—Federal Tfr. and Stosage, pfd 1,239—Mergenthaler, Old............ 249—Peoples Drug Stores pfd 1,242—Mer. TIr. & Stg., ptd UNLISTED DEPARTMENT. Shares. ISSUE. 146—Chapin-Sacks 8% ptd 4—Chapin-Sacks 7% pfd 100—Miller Train Control. 25—Raleigh Hotel Co . 6—District Title Ins. 43—Washington Title Shares. p BANKS. 190—Departmental Bank.. 10—Northeast Savings Ban 10—North Capital Savings Bank. Open. 100 70 2 . 102