Evening Star Newspaper, September 27, 1926, Page 20

FINANCIAL [omrvom BONDS moexsewve] | TRADING CAUTIOUS Recelved by Private Wire Dicect to The Star Office. UNITED STATE ! 'RICHMOND BANKERS ASSAIL NEW R o N CHIANGE. | |" MERGER PLAN AFFECTING C. & O. Received by Private Wire Direct to The Star Office STOCK PRICES SAG sal 3 Close Low. Close. Sales. High. Low. Clot . & day T by - INTRADING TODAY Abitibi Pow (4). Abrahmé&Straus Adv Rumley. .. Ad Rumley pf(3 Monday Declining Values | 4humada ¢t Program Followed—Ex- ceptions Numerous. BY STUART P. W Special Dospacn o0 the [ NEW YORK, sSeptember For the last four years a Monday on the Stock Exchange has commonly been of deciining prices. no reason for this €xcept tions for the rise are apt their peak «t the week end the siluation is dominated by profes- sional traders, prohl teking at the start of the new week is a natural sequel. Tnere were to special devel opments over Sunday. but the Mon- day m was followed out when the gre part of the lisy ed aws | There were numerous exceptions. General Motors as it got to 161 was registering new high prices under its | new form of capital. The equipment Baldwin Locomotive, MOUVE aiid atuciaal b features. Various specidl up-—Texas Guif Suipuus, which made a new hizh for ine present move: reka \acuum Cleaner, Postum . Commercial Soivents B, Safety whicn wax up over a puini; American lce, New York Canners tional Biscuit, Butterick, California Packing and allied Chemical which rose more than a puint. U. S Steel was under some pres- sure, the market taking more notice of the fact that steel prices are lower | and that they do not seem to be able to get any better despite the 85 per cent production capacity of the steel mills. | American Smelting, which had gone down last week nearly mme points, had a turther break, reflecting ih decline in silver prices. The selling of the smelting shares did not affect the coppers. which ordinarily moved sym- pathetically. Anaconda was somewhat higher The other members of group were inactive. Atehison vexponded with a ri more than A point 1o the highly Tavor August report showing an incre N month a vear g Rock gained a point as o result of the in- crease of $1.600.000 in its August net. | The ad 1 Colorado and South 7 kent on. The stock was up over | 2 points on top of la | of over 7 points. The Street wa ing ab o possibility good | sized dividend in connection with thix movement \ ; Sugar stocks were strong again The belief was that the sugar trade | - had seen its worst and was on the mend. The sugar stocks, with most of the outside interest: eliminated and heavily oversold. were in a posi- tion to act to suggestion of a change e better. Cuba Cane preferred t Western Sugar were the : £roup. that opera to reach nd where ter American Loco- Shoe the tes were bid talk | I Markel e | I NEW minin Silve YORK ). —Stocks irr ar res weakened on deciine in mds mised: Polish 8s re. clgn exchanges steady T vadly, Cotton weak: South Su firm: B : trade « cover. 1% Italian ern selling, buyi Cof CHICAGO, prodictions dull. Fio; New Bond I reduced | rn | ther. s firmer ember 27 (Spe d & Co. of New | Hentz & C | NEW ciai). York P YORK. S¢ and ke, elphia toc $3.000.000 Bayway York harbor) first series “A.° due Jdu at par he New York change Juiy 1n26, executed a Zoyear agreement with Bayway | Terminal, which. upon completion of facilities contemplated by this finan tnz, provides that this terminal shall become the exclusive lhcensed ware the New York Cotton 1946, priced Cotton Ex on house of chanze e of $1.194.000 City of announeed hy w These are 11 per | tue serially A mew i New Orleans ix Prespric vent pavir from 1928 from 100,25 A hank® & Co oo ing a AR 000 Aquipment trusi Union T 300,000 -1 to Octoher maturity. pur company 1 per preferred The Con 3 of Chicage F A'eate offerin £3.500,000 Hao Furnace Co. & p cent debentuoce r 1. 193 priced at 100 af 1 Issue is to prov ompany witl Increased work Public 1 osros First & Co City of serial hon. prices to v Thesc for savings s st funds in New York, N Mo ssachusetts and Connecticut a ve exempt from tax ation in New Jorser offs need todas | ted by the Van Ingen | |, oo | per cent 1966 cent | ju g nd WALL STREET BRIEFS I There 32 1Am Br Bopt (1) Am Can Am Car& Am Iy A Am nres ima i & Blectr | Al Reductn (3). 13115 131% x Rubber. . Allied Chem (4) Allis Chalm (6). Allis Chal pf (T) 108% Anal Leather. .. Amerada (1.60) Am Agricul Chm AeriCh pf. . AWTRank N 1.69. Am Bruke Sh(6) 140 Am Br Bov El(2 ) 6) “or Pow. . Am & Fo P pf(7) Am Ho P (2.40). Ice (+10)... Tnternati. .. LaFra)... Linsd pf (1) Locomaot (8) Loco pf (7). Metals (4). . Po&Lt (g1) Radiator (4) Safety R (3) Ship & Com. Sm & Ref (T S& R pf(7) St Fays (3) SU Fy pf(7) ugar (5)... ugar pf (7) umatra (n) Tel & Tel(%) Tobacco (8). Tobac B (8) . Wa Wo c1.20 Woolen.. ... Wool pf (7). inc pf Anaconda (3) Armour of TI1(A] Armour of I11(B} Arnold Cons&Co Asso Dry G(2% \ss0 D G 1st(6) Atchison ( Atchison pf (5). At C Line(i912) 223" Atlant Anstin- | Austin Nic pf(7) Anto Sales. Baldwin L (7). 220000 net over the | ga1o & Ohio(5). 108% Island | 1 1to & Oh pf(4) tethiehem Reth Stl pf (7). 3loomingdale. . . Sriges MIg (3). ison (8). 3ikn-Mn Tr (4). srunswi . Zurns Bro (10) 1rns Bro pf (1) urronghs (1) sush Terminal tutte Co 50c). sutterick . syer & Co. . By-Products (2) ‘alif Packg(4). . alif Petrol(2). *allahan Zinc. . . ‘alumet & Ar(6) alumet&H (1 ‘anada Dry.... ‘an Pacific (10). ‘ase Thresl ent Lea nt Leather pf. ‘erro De 17 (4) artain-Teed (4) s & Oh (112) hi & Alton. i & Alton pf. “hi & Bast 11 pf “hi Great West “hi Gr West pf i Mil& StI.. “hi Mil & SUE pt Al & MII& P etls SUP pf cfs wn (4 ni R1& Pac.. “hilds (32.40) “hile Cop (212) . iy sler Corp(3 U Peab et Pea pf (7) ca-Cola (7)... lins & Aikom "ol Fuel & lron i0 Southe “0.0 Sou 18t (4). “oi Sou zd pi4) ey et (2, . o GRE "ol Carb “om Cred (2) om: Solv b 1) Conzoleu Bakine B.. Gie) out Insur (§). . ot Mot 18ue) “orn Prod(t2%) Open. 96% 59y 21 62'4 T 963 584 181 58% 74 131'% 8y 8% 8 142 89'a 108% 191 3% 157 51% 40% 61 20 140 15 96's 54% 99% 19% 317 15 51% 40% 61 201 45 557m 1007 9 125 105's 1172 49 72 115 66 138% 119 1 441y 111 764 102 36% 14614 1 121050 121% 1 1217 121% 60 10 121% 73 431 267 Bloomingdle pf 7 109 1 1144 28 14 62 63 By 4242 10% 11 20% 101 64 1130 1610 13412 0 4 L 106 vamei Fr (1) davizon Chem. . del I & Wn (17) ) RG Wst pf. relroit revor la (2. sodze Bros C »odge pf (7) »ou s 1'ec ( ton Axle (2 AutoLt(is? ¢ Bont o ec Power & 1.t V' YORK. September °7 (#). of standard cotton textiles ex- | u ction b 475, p Wi hetween July ales ceaded i the Septe ton ca 004 000« cloths orders on 771000 vards on per cent 23 per Unfilled | Sentember 15 totaled 359.. | vards against AT.837.000 July 1. an increase of Stocks on hand decreas cent. The potentia! market | o for cot textiies greativ. the report said have booked bus far ahead as April. 19 \re me miles | o volume ¥ [ of Columbia Gas subsidi income % Co. and vear ended August 31. Qividends. increased to = from $5.082.829 the vear before. Gross | earnings were $37.412.205 against $20.516.744. In view of the pending consolidation with Ohio Fuel Corpora tion it is expected future monthly earnings reports will cover the com- £11.304.567 | ¥ | Famous P1 ( ec P& Lpfi7) lec Refriz(f2). Sto Bat(1 2). cedLight*1.40) anded | eq Min & Smelt ced Min pf (T).. 1= | pederal Truck. . “isk Rubber tiskR 1sUpE s Fisk 1st pf ev( Fleischmn({ %) indation (8). ox Film A (4). | Frank-s pf (7). reepori-Texas. bined operations. but necessarily some | Gen time after completion of the merger Financing for the Bavway Terminal which is to he the lic of the New York Cotton Exchange at Elizabeth 3. inviudes an offerins $3.000 600 first mortgage 6y t sinking fund gold bonds A" The honds are priced a par and accried interest. Gimbel Bros | Gimbi Br p | Gen | Gen | Gen Gas pfA(8). 110 &EAElY% Arehouse | ;en Motors (7). Mot pf Gen Ontar A L 104 [t 14 491 0% 89y 1% 48% 49 48 1105 1101 158'5 120 49 104 104 96% 584 18% 58% Th% 131% % | 141% 89 108% 19% 31% 15% 52's 40% 614% 20 142% 45 96l 55 100% 9 125% 17 87% 264 1261 | a3 13 75 107 117 47% 0% 115 66 % 512 8ly 43 10% | 280 101, e 1:0¢ BTN a8 Glidden (2) Gold Dust. Goodrich Ru (4) Goodrich pf (7). Gotham new 2% | Granby Consol. . Grt North pf (5) Gt Nor Ore (1% ) Grt Wstn Su (8) Gt West S pf (7) Green Canan. ... ! Guantanamo. ... Gulf Mo & Nor.. Gu M & N pf (6) i Gulf States (5). ! Hartman (2).... Hayes Wh(+33) j Helm Geo (163 ) Hoe & CoA.. ... Homestake (17) Househd (1315). Houston O1). Howe Sound (4 HudsonMan (2 { Hudson Mo(313) Hupp Mot (1)... Tliinols Cen (7). ' Indep Oil (1)... | Indian Motor (2) Indian Refining. Ingersoll R (14) Inland St (212). Inspiration (2). Interurb Rap Tr i Inteont] Rub(1) Internat Agri... In Ag C prpf(7) Int Bus Ma (3) Int Cement (4). Int Cement pf(7; Int Com Eng (2) Int Harvstr(8). . Inter Har pf (7) IntMtch pf(3.20) Int Mer Mar pf.. Int Nickel (2).. Int Paper (2). int Paper pf (7). Int Te! & Tel (6) Tewel Jewel Tea pf ( Jones Bros Tea. Jordan Moto KCP & L 1st (7) Kan City South. Kansas & Guif.. Kayser J (3) Kelly-Spring Kennecott (4 Kresge SS( Lago Oil & Tran. Lambert (3%3).. e Tire& Rub. . Ceh&Fink stf(3) Life Sav (1.0). 1zRelt & M (t Lig& M B (14). Lima Loco (4).. Liquid Carbonic. Loew's Inc (2) Loft. e Long Bell A (4). Loose Wiles Lorillard (§2). Loulsia il La Oil pf (613)., LouisGasA (1.75) Lon&Nash (161) STCCToTY B 15,60 Mcintyre P (1). Mack Trucks (6) Mack T 1st (7). | Mackay pf (4).. Macy H R & Co. Macy pf (7).... Magma Cop (3). Man Ei Sup ¢5). Man Elm g ( Manila Elec (2). Maracaibo OIl. . Market St prior. Marland Oil (4). Mathieson pf(7) May Dept St (5) MetroG pf(1.89) Maxican Seabd. . Miami Cop (1) Mid-Continent Miller R etfs(2) Mis Kan & Tex. MoK &1 pf (6) Mis<onri Pacific Missouri Pac pf. Montgom Ward. Moon Mot (3)... Mors & Esx(3%) Mothr Lode(75¢) Mo Picture(1%) Motor M Motor Whi ! Mullins Boay | Murray Body h Mot ($3). . at Bi-cu t Dpt Stores at DSt 1st (7). 1 Nat Lead ()., Lt(80c) Mex 2d. . ada Cop (1) * Brake (2 XY Canners 2. NY Central (7). INY ChigStL(11) INYOSSUL pf (6) | NY Dock | XY NH & Hart INYOn& w Y State Rys pf Norfk & Wn (+3) { Nortin A (B2.40). NorAm Ed pf North Pac (3 { Omnibus. { Oppenheim (3) 1 Cir (2 vator () Slakte . 5 | Owens ot (14). acific Gas (8) Pac Ol Stubs se Mot (1.5 o PanAwi (6) ™ 6% 44 1 43 17 38% 82 754, 28'¢ 170y 79 97ty 487 31% 46 85y 88 111y 481x 1oty 9% 12 an-Am B (6 AmWnBL N (c3). v RR (3). renn-Seab Steel. ax (8). e Marq (18). e Marq pf (3) la Co (4).... hila Co pf (3). {Phila & RC& 1. Thilip Morris i Phillips Pet (3). hoenix pf (7) ree O pf.. : Plerce Peroim. . | Postum (5)..... I'ressed Sti Car. Pr §u Car pf Refiners uCo (8). | Punta Aleg Sug. | Pure Oil (1) ! Radio Corp of A. Irsuic H. Ray Copperi2ic) Reading (¢). Iteading rts Reading 1st Rexding 2d (2). Retd Ice Cm (3). Replogle Steel. . Iteynoids Spng Rey Tobac B(5). Robt Reis & Cq. . Royal D (a3.078) wtland pf. Safety Cable (4) St Joseph Li(1).. StL & SanFr (1) L Southwest. i Schulte (§)... | Seaboard Air L. Seab Air L pf Seagrave(e Sears-R (n2%). Seneca Copper. . | Shattuck F hell Un (1.4 Open. 21% 484 49% 96% 55 30% 1% 19% 100 n7 20 7 37% 10814 69's 284 26 76% 29 60 44 59% 43% 38% 53% 25% 125% 26% 18% s 99 4114 247, 407y 16 141 823 51% 50% 103 4314 134% 124 64 974 118 12 4% % 40% 13 56 ). 8527 214% 64' 9% 357% 21 9% 9% 6214 46% 45% 6% 44 162 30% 16% 95 24 139 17 24% 111% 12 707 119%: 4 440 22 42' 10% 16% 31 36'a 420 384 143% 199 1 44 243 26 163% 1201, 10: & 126¢ 20"y 1114 881 7208 440 23 50% 101 126 2% 1097 % 82's 51% % 14 93% 201 S0t 44 2% . N 1107 Iy 49% 50 54 408 98t 67% 48% 33% 37 BY EDWARD (. STONE. Washington stockholders of the Chesapeake and Ohio Railway’ are receiving coples of a circular prepared by Scott & Stringfellow, Richmond bankers and brokers, aimed to furnish ammunition for the minority share- holders in their fight against the re- newed efforts of the Van Swerlgen in- terests to bring about the merger of the C. & O. with the Nickel Plate, Erie, Pere Marquette and Hocking Valley railroads. The Richmond bank- ers take the ground that the terms of the new. Nickel Plate proposal still are unfair to owners of C. & O. stocke] and present exhaustive figures to sup- port thelr claims. In case the sec- | ond proposition comes before the In. | terstate (‘ommerce Commission for approval in its present form the minority shareholders say they will again present vigorous opposition to the merger. In 1925 the five roads earned a gross operating revenue of $338,769.000, and during the first seven months of this vear showed an increase in this ftem of $11,745,000. If this ratio is nelther increased nor reduced during the rest of the year, the Richmond bankers say, the 1926 gross operating revenues will reach $370.514.000, or more than $1,000,000 a day. It is assumed that after all operating expenses, taxes, equipment, rentals, etc.. have heen paid there will be the sum of $49,- 230,000 applicable to dividends. The circular states that the C. & O. will he expected to contribute $29,873,000 o this sum, or more than 60 per cent, but asserts that the C. & O. Will not get nearly 60 per cent of the stocks of the new company. Hold- ers of the stock will be guarantsed 5 per cent on the new stock, the state- ment says, adding that C. & O. stock At present is earning 25 per cent. Loss of Control Stressed. Another point discussed s the amount of coal the Chesapeake and Ohio transports. It {s expected the carrier will this year move 57,500,000 tons. “What. advantages.” the cfreu- lar asks, “accrue to the Chesapeake and Ohio for turning over this enormous traffic to the new Nickel Plate ('0.? Could it not barter and trade this traffic at the Ohio River gatewavs for traffic in return from other roads to better advantage than by tying itself up to the exclusive control of the Nickel Plate Co.? The Chesapeake and Ohio stockholders now control their own property, bhut would have less than one-quarter in- in controlling the new prop- Richmond bankers review a* length the earnings of the five rail roads during the past five,years “Upon this record of earnings.” the statement continues, would seen that if the Chesapeake and Ohic stockholders desire to join.any plan of “umification with the other roads named, without becoming partners ‘n the smaller profits and less enticin prospects of those companie: i should be upon the basis of a lease of their propefty to the company with- out exchange of securities change in the outstanding stoc he statement adds that the exaet basis Sinclair Oil. kelly Ol (2)... South Port § (§) 114 Sou Cal idison. . 317 Sou Dairfes A(4) 50 Sou Dairies B... 271 South Pac (6)... 108% Southern Ry ( South Ry pf Spicer Mfg Std Gas & El g3. Std G & EI pf(4) td Ofl Cal (2).. td Oil NJ (1).. td O11 NJ pf(7) Std Plate Glass Sterling Pro (3). tewart War (6) trombe 6 tudebaker (5).. Submarine Boat. Superior Oil. Superior St1(2). | Sweets of Amer. Symington. .. | Symington A(2). ‘enn Copper (1) Texas Co (3).... Tex Gulf S (10). Texas Gulf (n) .. Tex & Pacific. . | Tex & Pac & 0 { Timken (1612).. Tobac Prod (7). Tob Prod A (7). Transcont Oil. 200 34 Underwood (4).. Un Carbide (3).. Un Oil (%) t"n Pacific (10) "n Pacific pf(4) 9 | U Tank Car(3). 119 fUn TR Car prCD 115 17td Cig. 8 (c2) 9 Utd Drug (8). idl 1s1(33) 1"td Dyewood. v 1 mves e i d Fruit (4) 1 1P&F(10) 2 Distributin SSmpf (3%). Steel (7). eel pf (7). | Untversal'Pipe. . Utl PRLLA (e ‘anadium (3). 1L 18L(T) Va-Caro Chem. . Va-Car Ch pf(7) Tron Coal & C Wabash. Wabash pf A Waldorf (114). . ward Baking B. ‘Warner Bros. Weber (4)...... West Maryland West Md 2d pf.. West Pac pf (6). West Union (8). West A Br(17%) Westinghse (4) . {Veston Elec. Weston A (2) Wheel & L. - Wheel & L E pf White Eagle (2) White Mot (4).. White SM pf(4). Willys-Overiand Willys-Od pf (7) Wilson A (new). Wiison pf new. . Woolwth FW 15 Wright Aero (1) Yel TR&C (72e). Youngstown (1) 31ty 28% 47 27 6% Y. Market. 12 n.. 691,300 2 p.m.1.017,000 nd rates as Fiven in the above table Dipidend et A i inenis ased on ibe Iy OF hail years declarations. 2 Oth: Toted. exira or svecial divic 'are not included Paable Stock. i PArtly extra, i omean atodk. 3Plus 4 %o In stock ble 1% auarterly. lus 3% in stock. aPaid thia yeai—no regular rate. bPlus 107- in pasahle 21a % nuarterly 'dPayabie Wwhen eamed. avle 1 stock. {Plus 23 in £Plus " 1 stock. iPY tock. AP yden G wpeadl Al Hold Terms of Proposed Union Still Un- fair to Owners of Stock in Road. Present Figures. of rental has not bgen figured out. but suggests that the Chesapeake and Ohio and Hocking Valley rail- road should receive about $12 per share per year. To get at the market value of Chesapeake and Ohio stock the bank- ers have compared it with 16 other prominent railroads of the country, After these comparisons they have placed the value of the common at 213. On the day_the table was drawn up--September 7—it was selling on the New York Stock Exchange at 162. It sold last Saturday at 173. Much B. & 0. Dividend Gossip. Wall Street news today called at- tention to the meeting of the Baltl- more and Ohio Railroad direators scheduled for Wednesday, for dividend action and a review of the earnings for the first eight months of the vear. In some quarters it is anticipated that the board will vote an increase on the annual rate of common stock to $6 per share. Net operating income for the eight months gained about $7,000,000, or 28 per cent over the corresponding period in 1925. This increase is equal to $4.50 per share on the commeon stock. The vear's earnings are now being estimated around $17 per share. Figures given out this forenoon for August showed the net railway op- erating income for the month to have been $5.747,732. a galn over August, of $806,819. ading on the Washington Stock Exchange was fairly active when the week's transactions opened today. Twenty-séven shares of Washington Gas Light sold at 70, Rallway & Elec- tric preferred came out at 89%. while Potomac Electric Power preferred sold at 107%. Capltal - Traction, which has been selling ex dividend for several days, recorded a turnover of 30 shares at 103%, being fraction- ally higher than the lasi sale. Lans- ton Monotype sold at 90. Two bank stocks also appeared on the board, 18 shares of Riggs National golng at 448, while Continental Trust opened at 93 and closed at 93% In the bond division Washington Gias 5s sold at 101, Washington Gas 6s 1n a $200 turnover at 102%, and Potomac Electric first 5s at 101, Other Financial Notes. Maurice Otterback, president of the Anacostia Bank, leaves Washington tonight for the convention at Los An- geles. He will board one of the spe- cials from New Y that go through to the coast. Mr. Otterback is the delegate of the District Bank- to the State bank and Association ‘ivision of the national body, ¢ill attend all its sessions. The tickers in the local broker offices were shifted back to standard time today because of the end of ‘light saving in New York, the Stock Exchange and other big finan- cial markets in New York opening ut 10 instead of 9 o'clock. Class work at Washington Chapter, American Institute of Banking, opens this evening at the new qu the Lecker Building. The enrollment is expected to break all previous rec- ords. A banking group has underwritten a $5.000,000 issue of first mortgage sinking fund bonds secured by the motion picture theater property owned by the Stanley-Crandall Co. of Washington. A public offering is expectel to be made tomorrow. Frank P. Harmon, jr., vice president of the Merchants’ Bank & Trust Co.. has returned from his vacation, and Frank E. Ghiselli, another vice presi- dent, is now taking his annual out- ing. Secretary William H. White and Auditor Ralph M. Wolfe are back at their desks after enjovable va- cations. Goodyear Tire & Rubber Co. will retire on November 1, through oper- ation ol a sinking fund, $750,000 principal amount of first mortgage 20-year 8 per cent sinking fund gold bonds. D, L. & W. PROFITS GAIN. NEW YORK September 27 (£).— August net operating income of the Delaware, Lackawanna and Western Railroad rose to $2,075 from $1,: 802 in August last ‘vear. Operat- ing revenues gained $251,940. Net op- income for the eight months 6 was $11,981.141, against $11,- in the same period of 19: operating revenues dropped 74 from $59,010.666. NEW YORK PRODUCE NEW YORK, September 2 to (Spe- (Sales are in $1.000.) Sales. High. Low. 10020 100 12 100 20 100 16 100 16 101 28 101 26 100 19 100 16 1014 1012 1025 1024 101 15 101 15 10321 10321 10720 10720 Lib3%s... 220 Libist4s.. 3 Lib1st44e 36 Lib 24 4%s. 200 Tib 3d 4% 6 Lib 4th 44 131 US3%s.. 1 US4s1944. 1 US4yss2. 1 FOREIGN. Sales. High. Low. Close. Argentine 6s Ju 59. 3 98% Argentine 65 Octdd 4 98% Argentine 6s A Argentine 6sB.... 2§ Argentine 7s. . 3 Australian 5s 16 Austria 7=. 17 Bank of Chile 64s. 22 Bank of Japan - 8 Belgium 6 ceel 19 Belgium 6%, Belglum 7s. Belgium 758 Belgium 8. Bolivia 8s Bordeaux 6s. Brasli 7s. Brazil 3s Canada bs 1931 Canada 581953. ... Canada §1481929. . Chile7s 1943...... Chile8s1946...... Chiness Gov Ry §s. Con Pow Japan 7 Copenhagen 5= Cuba 5138 Czecho 7%s rets. Czecho 85 1951. . Czecho 831952 ct. . Danish Munic $s B. Denmark$s....... DET5%s Mch 33. DEIn5%s Nov 52. Dutch East I 6s 47. Dutch East I 68 62. Finland s £ 69 45. Finland 78 Framerican 7'%s. French 7s. . French 7%» French 8a German El P 645, German 78 Ger Agr Bank 7 Hait} - Hungary 7% Ttaly 7s. Japanese 4s. .. Japanese 6% s. Jergens U M 68 Lyon 6s. . Marsellle 6 I8 Mexito 4n 10 asnid. 36 Montevideo 7s. etherlands . Netherlands 6s 72. Nord 6%s. Norway 5% Norway 6s 1943 Norway 6s 1944 Norway 6s 1952 Orient Dev deb Paris-Ly-Med 6s. .. Paris-Ly-Med 7s=.. Peru 74s. PR Poland €s 40. ‘queensland 7 hinelbe Un 7s 0 de Jan 8s 194 Fio de Jan 8s 47 Sao Paulo 8s 193 Sao Paulo 1950 Saxon (PW) 7s Seine 71 42. Serbs Crot Slo 8s Sweden 5143 ct Swiss 5138 1946 Toho Elec Pow 7 Tokio 58 Utd King: H Utd Kingm 5%8 37. Uruguay 8s... Ajax Rubber®s. ... Am Agri Chem 715¢ 4 Am Smit & R 1st s 1 Am Smit& R6s. .. Am Sugar ref 6s... 1 AmT&Tcltrds.. 5 AmT&Tcl trbs.. AmMT&Tsfbs... 5 Close. 100 16 101 28 101 18 1014 1024 10115 103 21 107 20 9% 98% 9 98% 100's 9814 101% 95% 100 85% 9278 94" 107% 107% 103's 87 95 104 101% 103% 101% 101 108% 3% 95 991 101% 101% 102t 102 110'% 98% 98, 994 98% 100'a .« 98'% 1015 95% » 103% 103% 103% 8 109z 109% MISCELLANEOUS. 1 1 5 1 9 3 9 1 AmT & T deb 513s. 22 Am Water Wks bs. Anaconda 1st 6s. Anaconda cv db 7s. 6! 5 . 26 1 Andes Cop 7s rets. 96 Armour&Co 4%3srt- 1 Armour Del 5% Atlantic Refin5s Barngdall 6s ctfs. . Bell Tell Pa5s B.. Bell Tell Pa 58 C Beth Steel pm 5= Beth Steel 548 53. Beth Steel 6s . Bush T Bldg Calif Pete 6125. ... Cen Leath 6s 45 cfs Chile Copper 6s32. Col Gas & El 58 sta Con Coal Md 1st 53. Con Gas N Y 513%. . Consumers Pow 5s. Cuba Canecv 7 Cuba Canecv 8 Dery (DG) Ts. . cial.—The demand for western New | Det Edison 58 40 York Elberta more aetive today and values aver- aged higher. 1.75 per bushel hasket. Some very fine stock. however, reached 2 and some small off-grade sold at 1.25 Upstate lettuce found a prompt out- let at advanced prices. Oswego and Orange County Big Boston wholesaled at 50 to 1. per c e of two dozen heads. Arrivals from the western of the State ranged from 75 to 2.25. Although receipts .of celery in the rought were not heavy, the market again closed in the buyer's favor. A large percentage. of the supply changed hands within the price range of 1.25 to 1.75 per two-thirds crate. The undertone of the market for Hudson Valley basket Concord and Wordon ‘grapes was slightly weaker. Twelve-quart baskets sold from 70 to occasionally 80, but very rarely any higher. WOOL PRICES HIGHER. BOSTON, September 27 (Special).— The wool market opened the week with continued activity and on a slightly higher range of prices result- ing from determination of dealers to hold stocks for higher figures. The market followed the London and Aus- tralian price trends, which have been distinctly strong lately. Territory Wwools had chief call, but a fair weight of fleece wools were moved. Quarter- blood Ohio fleeces are held for 45 cents a pound in the grease, with some sales at 44. A fair inquiry for fine combing has developed at a $1.15 scoured basis. BANK CLEARINGS. NEW YORK, September 27 (#).— New York bank clearings, $461,000, 000; New York bank balances, $101,- 000.000; New York Federal Reserve Bank credits, $98,000,000, GERMAN BONDS AND STOCKS. iQuoted i dollars per million marks.) id., w b 3% 101415, $1135.00 31250 e 335 1919 160:00 © 110:00 Gov 1-3 .00 8.00 Quioted ver thougand marks. Ger Gen Elec 11as pre-w. 28.00 2 er Gen Eie: 4 19% 1919, 4 rlin 43 ore-war, ambe 35 4 lae. Hamh-Am Line 4155 North Ger Llovd 415 North German Loy foreed Tn) doll; 3233232080s802:3 835332 peaches was a trifie | Det Edison ref 6 Dodge w i 65. Sold chiefly at 1.50 to| Duquesne Light Est Cuba Sug T%s. EmpireG & F T%s Fisk Rubber 8s.... Goodrich 6%s..... Goodyear 8s 1931.. Humble O& R 3% 1llinols Steel 413 Int Mer Marine 6s. Int Paper Int Paper Kan CP&I < Kan G & E| 6s52. . Laclede G 32 5: LoulsvG & E 5s Mid-Con 6% 40. Midvale Steel 5s... Montana Pow 5s. .. r's & Co 18t 4% ew Eng Tel §a. .. N Y Edison 58 4¢.. N Y Edison 6%s N Y Tel 4% Y Tel 6541 Y Tel6s49.... North Am Ed s North Am Ed 6% Nor Ohfo T & L 6s. Nor States Pow 5s. Pac Gas & El 55. PacT & T 1st 5s Pac T & T 58 52. . Pan-Amer Pete 6s. Peoples Gas 5s. ... Phila Co rf 63 Phila & RA C Pierce-Arrow 8s Public Service 6s.. Pub Serv Elec 6s. . P Serv Gas 548 59. P Serv Gas 5% 64. Punta Alegre 7s Remingtn Arms 6s. Sharon Stl H 8 Sinclair Ol 8s. Sinclair Ol 6148 Sinclair Ol1 7s. Sin Crude Oil 63 Sin Pipe Lne Gs. . Skelly O1 6% So Por Rico Sug U S Rub 1strf & 7S Rub7%s U SSteel st bs. .. Utah Pow & Lt 51 Vertientes Sug ‘Warner Sug 78 Wes? Elec bs ; Westn Unfon 6%s. 1 Westinghouse 7s. . Willys-Ov 6%s 33. Wilson & Co 1st Winch ATh Youngstn S& T @ @ P RN R R e AN S AANNARE AN D2 RSO 1 H » H3 1 10413 104’3 1007 107% 104% 984 10215 100% 105% 97% 103% 106% 107 91 93'5 100% 98% 102% 102% 97% 96% RAILROA Atchison gen ds... Atlantie C L cl do.. 17 |} 10413 104 100% 107% 101% 105, 99% 83 105% 10015 9415 9818 815 1024 107% 95" 105% 106% 10814 116 1054% 110 120t 1013 102% 974 89% 967 993 1094 103% 105% 2 103% | 997 4 104% 9613 101 86% 101% 102% 115% 984 | 108% 110 - 103 105 9614 997 99y 101% % 100% 93'e 106% | 1057 98's 60% 101% 104% 104% At & Dan 1st4s4s 1 804 80% 80% 8 961, 9612 96 12 981, 984 98% L. 26 9T 9TW 9Ty +.+ 10 102% 1024 1022 . $108 102% 102% 106% 106% 106% 11 91 914 914 10 100t 100% 1004 11 804 80% 80% 21 96% 961 96% 5 91% 90% 9% 13 841 83% 84l 1104 104 104 44 10015 100% 100% 4 987 98% 98% 5 96% 96 96 & O Toledo 4: Bklyn Manhat 6s. . Buff R & Pitt 4%s. Canad Pac deb ds. . Cent of Ga 5%s. . Cent Pac 1st 58 99. Ches & O cv4%s Ches & O gn 4%s. . Chl & Alton3%s... 10 60 60 60 ChiB&Q1strf5s. 5 105% 105% 105% CB&Q-INdivds.. 2 93k 934 934% Chi&ETenss.... 12 77% T4 774 Chi Great West 4s. 36 694 69 694 CM&PugetSds.. 5 53% 534 534 CM&StP4s25 8 Bd% 54% Bd% C M&StP4s25cfs. 17 54% 54l 54l CM&StPdb4s... 9 543 Hdls 54 CM&StP deb 4scfs. 7 5% 544 5d% CMA&StPgn 45 821 824 824 CM&StPev4 20 B4 54w Bd% CM&StPr4lscfid 71 54% 5H4% 5d% CM&StPevhs... 9 b54ly 54l Bd% CM&SP cviscfs 14 32 4% Bdk H4% Chi&NW 43,5 1987. 1 101% 101% 1017» Chi & NW 7s . 25 1074 107% 107% Chi Rys 5s. cee 12 M7/ 1T TTR ChiRI&Prfds.. 43 91 90% 90% ChiTH&SESs.. 5 907 907a 90% Chi UnStad4l%s... 3 97 97 97 Chi&Windcnds. 1 8513 8515 854 C&WI513862... 23 104 103% 103% CCC &St L5 10 101% 101% 101% CCC&StLrf6sA. 7103 102 108 Cleve Term 5. 1107 107 107 Colo& Sou 4%4s... 4 954 95% 9% Cuba RR5s, .... 1 95% 95% 95% Cuba N R 65 66. 4 98 97T% 984 Del & Hud cv 5535, 2 118 118 Den & Rio G cn 4s. 18 89% /9% D&RIoG imp5s.. 3 99% 99% DRio G West 55... 63 68'4 68% Erie 1st cons 4 6 80 80 Erfe gen 4 3¢ TIM 1% FErle conv s A 2 5% 5% Erte conv 4s B 6 75% 5t Frieconvds D... 112 83 83 Erie conv ext 7s 1107% 107% Erle & Jersey 6s... 1 {11 1 Fla EC bs 74 1299y 981 Gr Trunksfdb 10613 Great North 5 100% Gr Nor gen 13 Hocking Val 4% 95% Hud & Man ref 53. 961 Hud & Man aj 5. 81 111 Cen 45 53 8T% 1l Central 5 : 102 ‘ 1014 1% 714 Int Rap Tr 5s stpd. 3 4% Int Rap Tran 6 Int Rap Tran 7 . Int & G Nor 1st 6s. Int& G Norad 6 Int Rys (" A 5«7 Int Rep C Am 6s 41. lowa Cent 18 . Kan City Ft Kansas Cit, Kansas City a8, . Kan City Term 4s. Lake Shore 4s 28. . Lehigh Valcn ds.. Lehigh Val 55 2003 Lous & N uni 4s Louils & Nash 7s. Market St 7= 40 MU EI Ry & L 5s. : M& St L istrf 4s. MStP&SSMis3s8gtd MStP&SSM6les MK&T 1st 4s. MK & T adj 5s. MK&TDprinjdsA. MK&T6sC Mo Pacific gen 1x. Mo Pac 55 1965 Mo Pac 6= 49 D. Mo Pac 6s B.... Mont Trm ref s 41 Nassau E Ry 4 NO Tex & 3 N O Tex & Mss NOT&M5b!: N Y Cen gen 3 NV Cent deb 4s. .. NYCrfim4ly813 NYCentriss.... N ¥ Centdeb 6s. .. N Y Cent LS cl 312« NYChI&StL 512sA. NYChi&StL 513s8. New Haven c d 6s NY Ont Wist 48 N Y Rys 6s A 65. N Y State Ry 4%s. NY W& Bos 4% Nor & S gen 55 54 Norfolk & W cn 4 Northern Pac 3s. Northern Pac 4% Northern Pac r | 6s Ore & Calif 18t §s.. Ore Short L rfs 4s. Ore Short L. Ore Wash 1st 4s. Pennsyl con 41us, Pennsyl gen 4 %s Pennsyl gen 3. . Pennsyl 5s 64. Pennsyl 6'3s. Pennsyl zold 7 Peoria & E inc 4 PCC&St L 58 BT5 Port RL & P bs42. Por RL & P 65 47. Por RL&P 7158 46. Reading gen 414 Rio G W Ist 4 RTIArk& L d%s.. StL&SFplisA. 10 105% 15 10 P Ot A O oY 233 020 Seaboard AL 4x sia Seab A L ref 4s Seab A L adj 5s Seab A L con 3. Seab All Fla 6s. . Sou Pac 4s 29. Sou Pacific clt 4s | Sou Pacific ref 4s Southern Ry gen 4s Sou Ry con 55 94. Sou Ry 6: el Southern Ry 6%s.. Texas & Pacific 1st | Third Ave ref 4 Third Aveadjas. .. Union Pac 1st 4s. .. Union Pac 4s 27. Union Pac cv 6s. .. Virginia Ry 1st 5s. VARy &P sn.. Wabash 1st 58 Wabash 2d 5s. .. Wabash 55 75. West Maryland 4 Western Pacific 5. Wheel & L E cn 4s. | Whel & LErf 4125 6 | Wisconsin Cent 45 FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Closing.) Approx Asked. yield 28R assBan @ afonoRun | POTATO MARKET STEADY. | CHICAGO. September 27 ().—Po- ’Lflloe!—fl@l’!lpls 144 cars: on track, 1329; total U. S. shipments Saturday, 699; Sunday, 44: trading fair, market 5a2.50; ordinary | to poor. sacked j round whites, 1 wrding to | quality and condition’; North Dakota, Minnesows, sacked ited Rives Ohiox 2.35a2.50; ldaho sacked Rurals. 2.4 olorado sacked Brown Beauties, IN BOND MARKET Good Inquiry for New Issues and Some Special Obliga- tions Today. BY GEORGE T. HUGHES, Spacial Dispatch to The Star. NEW YORK, September 27.—Ezw cept for the new issues and ocertain special bonds for which thers was good inquiry trading proceeded toe day slowly and cautiously. The money outlook was still regards ed as uncertain, but the general exs pectation was that rates would hare den. At the same time there was no selling pressure, and so for the main body of the list quotations were baree ly changed. Among the few features was Repube Ue Iron and Steel 55 above par, equal ing their previous best prices this ye: A few of the railroad bonds responded to the theory of favorabla earnings statements current during the day. among them Rock Island re.: funding 4s. which at 91 were only a point below their record price this year, and some of the higher coupon rate {ssues such as Missouri Pacific 6s and International Great Northern 6s. Liberty and Treasury obligations were steady. Buying and selling orders were about evenly matched for the usually active speculative rails. St. Louis-San Francisco incomes were in supply whenever the price ran up around 96, Seaboard Air Line Consolidated s were supported at 95 or just below Chicago Great Western 4s found buy at their recent low. but made little he same was true of Illinois 5s. oria and Eastern income w half point In the industrial g were firm. notably N Sugar refining ates Railways §1:8 3 1926 low. There was ant_chanze in the local tions. The Skelly Oil 6155 at one time 2 peints, was the only development in that group. Most of the foreign honds dragsed Provinee of Santa Fe fluctuated over a comparatively large range with little net_change. Poland $s were still depressed. pup sugar bonds stern Cuba 7 New sxed to no im- transac 1e. down WHEAT PRICES CLIMB ON EASTERN BUYING Corn ann; }i;r.dsn and Oats Tend Upward in Trading on Chicago Market. By the Associated Press CHICAGO, . September Buying on the part of houses with Kastern connections rallied wheat values today after downturns at ghe start. Falling off in the amount of wheat on ocean passage attracted notlee, and so, too, did corn market firmness associated with further spread of the fre vea. wen unchanzed to 'y off. wheat rose allaround to above Siturdav's finish. Corn started at o down to oy up and later hardened. Oats fend upward. Provisions were stronger Aceording 1o estimates current tos day. nearly half of the domestic wheat surplus has been exported so far. It was alsn asserted in this connection that th months' clearances o wheat and flanr from the United es are within striking distance of st vear's exports and that inasmuch as Southern Hemisplhiere wheat will not be available in Furope for some wecks, Europe meanwhile must des pend on North America for the bulk of supplies Among corn traders much interest was taken in a report today by a | ing crop expert that corn kernels have been maturing much faster and mora completely than has the stalk blades of the plant. Samples from each section of each State from Ohio to Towa are said to indicate that with reasonably cood drving weather the corn crop, both in quantity and quals ity. will be decidedly hetter than sea- sonal conditions have appeared ta show. CHICAGO LIVE STOCK MARKET CHICAGO, States Department Hogs— Receipts. even: mostly higher on sirable hogs 10 pounds upe ward: light hogs mostly steady: light lights and pi 3 5 to 50 lower: top, 13.85; bulk ble 190 to 240 pound averages. 13.50a13.75: most 230 to 300 pound butchers, 13.00a13.50: most packing sows, 11.00a13.00; bulk good slaughter pigs, 11.00a11.50 heavy- weight hogs. 12.10a13.70: medium, 13.25a13.8 30a13.80; light 1 3N al I pae 10500 slaughter pigs, 11.00a12.50. Cattle—Receipts, 33.000 head; slow: early tradinz confined 1o specialties in the ste 2 classes; vearlings. weight finished steady: bidding mostly on all other steers and yearlings. in- cluding stockers and feeders and fat she stock: low-grade cows. bulls and vealers mostly steady: some vealers 25 lower: bulk early. 14.00a14.50 Sheep —Receipts, 39,000 head; very slow; t lambs, lower. no West. erns sold; few opening sales of na- tives around 13.00: best kjnd held round ulls, 30 lower; few sales at 9.0049.50; sheep steady: early sal bf fat ewes, 6.00a6.50; reeding lambs steady to 25 lower at 13.00213.50; dou- ble of feeding ewes at 5.5 September (United of Agriculture). < 000 head: very une very fow OCTOBER TO SHOW TREND. NEW YORK, Septembher 27 (#). ~ Qctober is expected in Wall Streat to furnish & definite indicatidn of the trend of Fall and Winter business and the main price trend of the stock market over the next few months. It was not until October of last yvear that it hecame apparent that the volume of general business would break all precedent without any strain on the money market. In Octoben, 1924, the =o-.called “Coolidge bull mars ket' ‘hit its stride. In 19 a sharp decrease in production and unfilledor- ders of steel in October signaled 'the heginning of a bear market. Inel- dentally the panic of 1907 came in October. SANTA FE EARNINGS. NEW YORK, September 27 () — Unusually large gains in earnings are reported by the Atchison, Topeka and Santa We for August. net operating income jumping to $8.407,763. from $5.054.865 in August last vear. Gross revenues were 325,443,654, against $20,085.985. Net operating income for the eight months of 1926 reached $33.- 862,783, an increase of $10,698,637 over the same period of 1925, while gross went to $160,100,969 from $147,053,167. PRICES ON PARIS PARIS, September 27 (P).—Pric were heavy on the Bourse toda ‘Three per cent rentes, 48 franes centimew: exchange on London, 175 francs 10 centimes; 5 per cent loan, 52 francs centimes. The dollar was quoted at 35 francs §3% centimes. BOURSE.