Evening Star Newspaper, September 28, 1926, Page 24

FINANC1AL. FINANCIAL. TUESDAY, SEPTEMBER 28, 1926. EE;:BQNQSE INVESTMENT BONDS | AREMORE ACTIVE Sales. High. Low. Close. ‘Warner Sug 7s 39. 1 594 593 59 | Warner Sug 7s41.. 1 8315 831 834 Raising of Redlscount Rate in Near Future Freely THE EVENING STAR, WASHINGTON, D. ‘C.. - RAL'SCORES AN | /W YoRK SToCK EXCHANGE || ™R eY Sisson on chaNGE N STOCK NARKET U. S. Steel Bought Persist- UNITED STATES. (Sales are in $3.000.) Sales. High. Low. Close. 201 10020 100 17 100 17 10125 10125 100 16 10117 Low. Close. 58% Lmotype Also Dealt in Heavily, Showmg Half-Point Gain—W. R. & E. Pre- ferrcd SCOI‘CS Advance. Abitibi Pow (4). Abrahmé&Straus. Abr&Stras 7%pt 111 Adams Exp (6). 131 Adv Rumley. Ad Rumley pf(3’ Alr Redncmnl) Gen Outdr A (4) Gen Ry Sig (15). 86 Gimbel Bros. Glidden (2).. Gold Dust. . | Goodrich Ru'(4) ' Goodyear pf (7). | Goodyr pr pf(8). West Elec bs 26 101%5 101% 101% | Westinghous 11 104% 10435 10415 Willys-Ov 615 33.. 1 101% 101% 101% 2 1014 |Wilson&Colstés. 9 99 v 1033 1085 | WinehesterA 7%s. 1 108% 104% 10321 10325 | RAILROAD. Lib3%s Libist4%s 18 Lib2d 4%s. 145 Lib 3d 4%s. 225 Lib 4th 4%s 223 US4s1944. 2 101 25 100 11 101 4 10256 103 25 ently—Atchison and Pennsy Display Strength. BY STUART P. WEST. Bpecial Dispatch to The Stas NEW YORK, September 28.—Rail- way shares in the market today paid more attention to the highly favor- able traffic results for the month of August. The possible strength lay in this group and in U. 8. Steel, which was bought more persistently than on any day in some time. The bril- liant showing made by Atchison was responsible for the rise of nearly 2 points across 159. Pennsylvania was , hought on the favorable impression made by its August figures. Unlon Pacific ran up over 2 points, St. Louls Southwestern a point. Colorado and Southern was influ- enced again by dividend rumors and £old at a new high for all time. when it reached 81. There was a special de- mand for Gulf, Mobile and Northern. The Northwestern ralls were strong and so were Canadian Pacific and New York Central, but realizing sales were encountered in Rock Island de- #pite reports that dividends might be begun in December. General Motors, which had closed yesterday at 1593%, got across 160. Selling predominated in Warner Rrothers Pictures and in Foundation Co., while Cudahy Packing turned up- ward again. Although it was a very mixed market, with transactions somewhat smaller and no decided tendency either way. Wall street was still banking upon the good position of the rails to hold the market up against profittaking in the indus- trials. Hudson Motor ceiving support around 53 Union Gas had closed 9115, it sold toda of some special appeared to_be re- Brooklyn stetday . et 96 on rumors. favorable _develop: ments for shareholders. ~Brooklyn Edison ran up some 4 points.- Con: solidated Gas was sympathetically strong. s the afternoon went on ‘the market lost a good deal of ‘its buox- United States Steel came down end so did General Motors. ' The Jife swent out of most of the rails. A ‘féw’ specialties were bid up. among them Commercial Solvents B., Radlo Cor- poration and du Pont, but'in the st generally it was clear that prices wers, not getting out of thé rut in which they have been moving for the last fortnight. Bethlehem Steel was unrhangyfl, United States Rubber was off nearl. half point and Allied Chemical was Ajax Rubber. Alaska Junea. .. Allled Chem (4). AlltedCm pf (7). Allts Chalm (6). Amerada (2).... Am Agricul Chm Am Agri Ch pf.. Am Bank N 1.60. Am Beet Sugar. Am Bosch. Am Brake Sh(6) Am Br Bov EI(2; AmCan (2).... Am Car&Fdy (6) mC&Fpf (7). m Drug. Am Express (8). Am & For Pow. . Am & Fo P pf(7) Am Hide & L pf. o e Am Ice (+10).. Am Internatl.’. Am La Fr (1). ‘Am Linseed. . Am Linsd pf (1) Am Locomot (8) Am Loco pf (7). Am Metals (4).. Am Po&Lt (R1). Am Ship & Com. Am Sm & Ref (7 Am Stl Fdys (3) Am Sugar (3)... Am Sugar pf (7) Am Sumatra. ... Am Tel & Tel(9) And Tobacco (8). Am Tobac B (8). Am Tobac pf (6) Am Wa Wo c1.20 Am Whise pf(7) Am Woolen..... Am Wool pt (7). Am Writ Pa ctfs Am Zinc, Anacond: Armour,of T11(A} Armour’of I!1(B) Anso Dty G(2%) ' Atchjson (7).... ‘Atehison pf (5). Atl Birm & At. .. Atl C Line(19%) ‘Atlanitic Refing. Atlak Powdr (4) Austin Nichols. Austin'Nie p£(7) Baidwif L (7). Balto'& Ohio(5) . Balto & Oh pf(4) Bang & Ar (3).. Harnsdall A (2). Barnsdill B (2). Belding Bros(3). Bethiehem Steel. Beth St pt (7).. Bloomingdale. ... /| Botany A (4) Briggs Mfg (3). freely sold. American Smelting was helped. by, the statement that the recent break. in’ kilver would not hurt the company’s. earnings for the present vear, and there was some discussion of a pofsl‘ ble dividend increase. % Markets at a Clancé' W YORK (®).—Stocks irregylar; du Pont soars 10 points to new high. Bonds mixe Paul issues active. Foreign exchanges steady: Itallan lra firm. Cotton lower; easier Southern markets. . -Sugar firm; strong spot market. Coffee weak; easier Brazilian cables. CHICAGO.—Wheat higher; bullish Liverpool cables. Corn easy: large old crop supplies. Cattle steadier. Hogs lower. NEW YORK PRODUCE. 5W YORK, September 28 (Spe- elall.—The limited arrivals of Western New York Elberta peaches sold rapid- 1y to v and the market ruled a trifle firmer. Wholesale business was trans- mcted at 1.50a2.00 per bushel basket. Receipts of tomatoes were lighter and the undertone of the market ap- peared somewhat brjghter. Hudson ill carriers jobbed out 022.00. California sup- ely exceeded 1.00 per lug of Western New York Bartlett pears were in light receipt. Trading was fairly good and most sales were made per bushel basket. rreled and basket apples were in plentiful supply. Western New York Alexander de A, 21 to 3 inch changed hands at 75 per barrel; Wolf Rivers, 3.00a3.50; 20-ounce, 2.50a 3.00; Wealthie: .00, and Malden Rlush, 2.0023.0 Upstate lettuce was rather scarce and fancy. well headed stock met a prompt_outlet within the price range of 50a2.00, principally 1.25a1.75 for crates of a dozen heads. Western Teeberg in crates of four and five dozen heads commanded from 3.00 10 5.00. GERMAN BONDS AND STOCKS. o dollars per million marks e v lans 18 $T175 00 sizion i 1010 0300 ° 108.00 NN Gor North German Llogd Prianan Console 3158 Krupp 58 192 5 Dusseldorf 48 pre-war 5.00 Frankfort a-m 48 pre-war 5.00 Munich 48 pre-war 5.00 Badieche Anilin ooy 15800 Ger. Ge ) Commerz & Privat Bk FOREIGN EXCHANGE. ¢ W.B_Hibba & Co.) Lo \Mnln.n\ Selling checks Rrissels. {ranc Berlin, mark Tome Quotations n—Demand, 60-day bills nce—Demand, ~ Demand, 3.70: cables. 380916 Ttaiy l'\|l hanks. cables, ? % 3.80. Demand 23.82 Swed zerland Belgium. and, 40.01; Denmark, Spain, 15.18; Greece, Czechoslovakia, Austria, 14.12%: Argentina, 40 19.321, POTATO MARKET S’l'EADY CHICAGO, September 28 [ to , 74 cars; on track, Y aesey 606; trading fair, market steady: onsin sack and bulk round whites best, 2.25a2.50; | poor. 1.50a2.10: Minnesota sacked | whites. a2.25; Minnesota, Dakoti sacked, Red River | Ohios” 2.30 Colorado sacked | brown Heautie 5, according 10 quality and ¢ Lurals. 2.50a2 round whites, 5. Michigan sacked 358250, A lonr BkinEdison (8). Bikn-Mn Tr (4). Bk:-Man,T pf(8). BKin U G(111). Brown Shoe (2). HBrunswick Balk. Brumswick Ter. . Buff Roch&P(4) ‘Bush Terminal. . Butte Copper&?Z ‘Butte&Super(2) Bugterlgk........ Co. B)-Producls @) Calif Packg(4).. Calif Petrol(2). . Callahan Zinc. Calumet & Ar(6) ‘an Pacific (10). ‘ase Threshing. Cent Leather. .. Cent Leather pf. Cerro De P (4).. Certain-Teed(4) Certain-T 1st(7) Chand. Chand-Cle pt(4) Ches & Oh (t12). Ches&O pf(6%) . Chi & Alton Chi & Alton pf.. Chi & East Il pt Chi Great West. Chi Gr West pf.. Chi MIL&SLF.. Chi Mil & St F p1 CMil &St P ctfs C M11&StP pt cts Chi & Nwn (4)- Chi R 1& Pac CRI&PDL(8). CRI1&P pf (7). Childs ($2.40) . Chile Cop (2%). Christie B (1.20) Chrysler Corp(3, Cluett Peab (5) . Cluet Pea pf (7) Coca-Cola (7) Collins & Aikmn Col Fuel & Iron. Colo Southern. . Colo Sou 18t (4). Col Gas & El (5) Col G & E pf (7) Col Carbon (4). . Com Cred 18t 6% Com Solv B (8). Congoleum-N.. Congress Cgr (3] Con Cigars (7). Consol Cigar rts. Consol Distribut Cohsol Gas (6). Consol Textile. . Cont Bakg A (8) Cont Baking B.. Cont Can (16)... Cont Mot (80¢). Corn Prod(12%) Corn Prod pf(7). Coty Ine (4).... Cructble St (6). Cuba Cane Sugar Cuba Cane Su pf Cuba Co (4).... Cuban-Am 8 (1). | Cudahay Pkg(8) Cushman’s (8). . Davis Del L & Wn ( G Wstpt Detrolt Ed (8). . Dodge Bros Cl A Dodge pf (7). Dome Mines (2). Douglas Pec (2). Dupont (14). Dupont deb (6). Duquesne pf (7) tman (13) Kiseniohr & Bio. El AutoLt(16%) Electric Boat. .. Liec Power & Lt Elec P & L pf(7) Elec Refrig (c2) Eiec Sto Bat(18) Elk Horn. .. Kk Horn pf. . End-John (5)... Engnrs PS pf(1) Equitable pf () Erie R R. Erie 1st pf { Erle 2d pf 5 LZureka Vac (4). Ftmous®!. (i8) FedLight(*1.40) Fed L&T pf2(6) Fed Min & Smelt Fed Min pf (7). Fed Mot T(f80c) Fisk Rubber. Fisk ist pf ev Fleischmn(12%) Foundation (8). Fox Film A (4). Freeport-Texas. Gabriel Snu (5) Gardner Motor. . Gen Asphalt. Gon Cigars (4) Gen Elec (h3). .. Gen Elec sp (80¢ Gen Gas A(el%) Gen Gas pfa(T). Gen Motors (7). Gen Mot pf(7). . Gen Outdr Ad(Z, 100% 126% 9 127% 110% 591 10 58 124% 108 8% 43 75% 1% T4 10% 45% 125 T4l % 48’ 33% 25 105% 100% 344 37% . 326l 107% 115 18 n 6643 61% 884 104 260 66% 9d% 12: 2’«. 5% 46 43% b4 nz 33% 9ty 85 74 29% 17% 49% 87 N 28 31t 613 85% 125 56'9 119% 120 34 4% | Pub Gotham new 2% Granby Consol. . Grt North pf (5) Grt Wstn Su (8) Green Canan. ' Guantanamo. | Guif Mo & Nor. lcuMmeN bt (8) Gulf States (5). Hanna 1st pf. Hartman (k4.40). Hayes Wh(t3%) Househd (13%). Howe Sound(4). HudxonMan (21§ Hudson Mo(315) Hup Mot (1.40). Illinots Cen (7). Indep O (1)... Indfan Refining. Inspiration (2).. Interurb Rap Tr Intcont] Rub(1). Internat Agri. .. In Ag C pr pf(7) Int Bus Ma (3). Int Cement (4). Int Cement pf(7} Int Com Eng (2) Int Harvstr(6). . Inter Har pf (7) IntMtch pf(3.20) Int Mer Marine. Int Mer Mar pf.. Int Nickel (2). Int Paper (). .. Int Paper pf (7). Int Tel & Tel (6) Jewel Tea. ... Jewel Tea pf (7) Jordan Motor. .. Kan City South. Kan C So pf (4). Kansas & Guif. Kayser J (3). Kelly-Sprirg. .. Kennecott (4). . fnney G R (4). Kinney pf (8) Lago Ofl &dTran. Lambert (313). . Leh&Fink stf(3) Ligrett & M (14] Lig& M B (14). Lima Loco (4).. Liquid Carbonic. Loew's Inc (2).. Loft. Loose Loose W 18t (7) Lorillard (§2). Louisiana Ofl LouisGasA(1.75) Lou&Nash (6 Ludlum Steel (2] Melntyre P (1). Mack Trucks (6) Mack T 18t (7). MackTr 2d pf(’!) Macy HR & Co. Magma Cop (3). Man El Sup (5). Man El m g (d5) Manila Elec (2). Maracatbo Ofl. . Market St prior. Marland Ofl (4). Mathieson pf(7) 118% 40 116% 20% 48% 21% 42% 56"’ May Dept St (5)/ 129% Maytag Co (2). Mexican Seabd. . Miami Cop (1).. Mid-Continent. . Miller R ctfs(2) Minn & St Louls Min St P & SSM. Mis Kan & Tex. . MoK & T pf (6). Missourl Pacific Missouri Pac pf. Montana Pow (5) Montgom Ward. Moon Mot (3)... Mo Picture(1%) Motor Met(3.60) Motor Whi (2).. Nash Mot ($3).. Nat Biscuit 415 Nat Pv\&Lt(!nc) Nat Supply (4). Nevada Cop (1) XY Air Brake(2) Canners C2 Central (7).. NY Chi&StL(11) rC&StL pf (6) " Dock. . NY & Harl (5). . NY.NH & Hart. . On & West. . team pf(7). offolk South. . Norfk & Wn (13) North A (B3.40). NorAm Ed pl('l) North Pac (5) . 0il Well Sup t") Omnibus. Onyx Hos (3.20) Onyx Hos pf (7). Oppenheim (3).. Otis Elevator (6} Otis Steel....:.. Outlet Co (13%) Outlet Co pf (7). Owens Bot (14). Pac Oil Stul - Packard (12.! 90). Paige Mot(1.30). Pan-Am B (6) Panhandle. ..... Park & Tilford. . Pathe Ex (¢€3) Penick & Ford Penick&F pf(7). Pennsy RR (3). Peoples Gas (8). Peoria & East. .. Penn-Seab Steel. Pere Marq (18). Phila Co (4).... Phila & RC&I. Phillp Morris. .. Phillips Pet (3). Phoenix Hoslery Plerce-Arrow. .. Plerce Oil. Plerce Oil pf Plerce Perolm Pitts Coal pf.. .. Pitts FtW pf (7) Pitts St pf (T). Porto Rico Tob. Postum (5). Pressed Stl Car. Pr 8tl Car pf (1) Prod-& Refiners. Producers&R pf. Pub Ser NJ (3). SNJ pt (1) Pullman Co (8). Punta Aleg Sug. Pure O11 (1) . Pure O11 pf (8). . Radio Corp of A. Radio C pf (3%) RSTICefs (4). Rand Min(al Reading (4). Reading rts..... Reid Ice Cm (3). ! Reid IceCr pf(7) neplozle Steel Rep Ir & Stl (4). rieynolds Spngs. Rey Tobac B(5). Robt Reis & Co.. Rossia Ins (6) Safety Cable (4) St Joseph Li(t) . . StL & SanFr (7) StL-SanFra pf(7 St L Southwest. Schuite (§).... Seaboard Alr L. Seagrave(el.20) Sears-R (n 2%). Shattuck F G(2) Shell Un (1.40). Shell Un pf (6). Sher-Wil pf (7). Shubert The (5) Stmraons(12.25). Stmms Pet (1).. 22% 10 16% & % m 9% su 53% 41% 98% 91% 68 48'% 34 13% 5% 60 28% 107 105% 64% 3% 18% 118% 40 116% 20% 48% 6674 K3 40% 12% 57% 43% 97 118% 40 1164 20% 4T% 6674 i 40t: 12% 561 43% 8% 21 6214 35% 91y 90% BY EDWARD (. STONE. Today’s 'session of the Washington Stock Exchange was one of the busiest that has taken place in weeks. The market opened with unexpected activity in ~ Washington Gas Light stock, 100 shares changing hands in six transactions at 70. Mergenthdar Linotype came next in velume of trad- ing, the first sale of 20 shares being marked “as of yesterday” at the price of 107. The stock then advanced to 1071 for 10, 20. 5 and 30 share lots respectively. Washington Railway & Electric preferred opened at 89% and then ad- vanced to 90, the day's sales totaling 23 shares. Union Trust Company stock gained an eighth of a point ove; the last sale, one share going at 225%. Peoples Stores Preferred came out after s Y, re- cording the high mark of 108. Capi- tal on, which s still ex-dividend, sold at 104, while Potomac Blectric Power Preferred registered 108 for one share. Bonds_again were neglected. Rail- & selling at 83 and Washington Gas 5s at 101. listed department 15 shares of tional Capital Savings Bank were sohd at 16. Cashier Mitchell Back at Desk. Mitchell, cashiér of tho Natioral Bank, has return- desk after being absent many on account of his health, obliged to give up work last February and go to Flor- ida. He partially recovered there and then passed the Summer at a shore resort nearer home. Mr. Mitchell has been connected with the Columbia Bank for 33 years. He was assistant cashier for many years, and about a year ago was ad- vanced to the position of cashier. He is recetving the gongratulations of President Frank J. Stryker, the rest of the bank’s officials and direc- tors and a host of customers upon his return to health. $5,000,000 Offering Made Today. The Stanley-Crandall Co. of Wash- ington, which in 12, yvears has ex- panded from a busindss operating small motion picture theater with 500 seating capacity to its present size, has obtained a new loan of $5,000,000. which will be used, in part, to finance the acquisition of new properties ap- praised at more than $7.000,000. Pub- lic offering of the loan is made today in the offering of $5,000,000 Stanley- Crandall Co. of Washington first mort- gage 6 per cent sinking fund gold bonds. The bonds are due August 1, 1946, and are priced at 100 and interest to yield 6 per cent. The underwriting group consists of Edward B. Smith & Co., Brown Brothers & Co., Cassatt & Co. and Hayden, Stone & Co. Sinelair Oil 20% Skelly Ol (2)... 34% South Port S (6) 115% Sou Cal Edison.. 317 Sou Dairies A(4) 4 G & Bl pf(4) d Ol Cal (2).. Std Oif NJ (1).. Std OMNT pf(7) Std Plate Glass. Sterling Pro (5) . Stewart War (6) Stromberg (6) . udebaker (5 Submarine Boat. Sun Oil (11). Superior O1l. . .. Superior StI(2). Sweets of Amer. Symington. . Symington A(2). Tenn Copper (1) Texas Co (3).... Tex Gulf § (10). Texas Gulf (n).. Tex & Pac C & O Tex & Pacific. . . Texas Ld Tr(8). Thompson (3.60) Tide Water(1%) Tide W Oil pf(5) | Timken (16%) Tobac Prod (7). Tob Prod A (7). Transcont Oil. .. Twin City pf (7) Un Bag& Paper. Un Carbide (5) Un Ofl Un Pacific (10). Un Pacific pf(4 Un Tank Car (5 Un Tk Car pf(7) Utd Clgar S (c2) Utd Drug (8). .. United Fruit (4) 115% U S CIP&F(10) 209% U S Distributing &53% U S Hoffmn $3% U S Ind Aleohol. 7S Ind Al pf(7) 7S Realty (4).. 7S Rubber. U S Smelt (3%). U S Steel (7). U S Steel pf (7). Universal Pipe. . Univ Pipe pf (7) Utl P&Lt A (e2). Vanadium (3). .. VanRaalt 1st(7) Va-Caro Chem. . Va-CarCh 6% pf Va-Car Ch pf(7) Va Iron Coal & C Vivadou (3). Viva pf new (7). Wabash. .. Wabash pf A(5) Wabash pf B. . Ward Baking B. Warner Bros. Warren Bros (1) Weber (4) W Penn El A (7) ‘West Maryland. West Md 2d pf. 104% 44% 5% 62 29% 58% 104% 45% inghse (4) . ston Elec. veston A (2 ‘Wheel & L Erie. Wheel & LE pf. White Eagle (2) White Mot (4) .. a 207 Willys-0d pf (7) 92 : e whoong& Co. ... 11% Wilson A (new). 224 Weolwth FW (13 Worthn Pump. . Worthtn A (7). Wright Aero (1) Wrig Wm (14).. . Yel Tré&C (72¢) - 33% Youngstown (4) 864 86% Hourly Sales on N. Y. Market. 1am. 424,600 12 n 1l;m 912,500 2 p.m.1.102,100 idend rates as given in '.he above table arethe il by ments Uased on the latest a terly or half yearly declarations. Unless otherw 'Q noted. extra or special divi- s luded. R “«%mly‘;nn IPlylbl: i g in btoe bPlus 0% ln 31 o year—no, e e tock payabl quarterly. Pl B 0 ateck: m- vable mnen3 earned. ePayable in or- k. (Plus 23 in ZPlus 2 SPM special stor Sl R O ok In the un- | 639,100 The Stanley-Crandall Co. is an im- portant subsidiary of the Stanley Co. of America, which s one of the largest exhibitors of motion pictures in this country. New properties ac- quired by Stanley-Crandail Co. of ‘Washington are the Boulevard The- ater in Baltimore, Chevy Chase The- ater, Apollo Theater in Martinsburg, W. Va. and sites in Baltimore and Frederick, Md., where additiondl the- aters will be constructed. With these additions the chain controlled by the Washington subsidiary of Stanley Co. of America will number 18 theaters. Net earnings of the sub- sidiary company bringing out this issue were over $1,122,000 for the first half of this year. Railroad Earnings Jump. Net rallway operating income of the Pennsylvania Railroad in August totaled $11,968,898, an increase of $4i 6 over the coresponding month last year. For the eight months ended August 31, the company’s in- come amounted to $66,396,440, a gain of $6,497,658 over the same period of 1925. Gross revenues in August in- creased $2,469,752 to $43,312,131. Surplus of the Southern Railway for eight months of 1926 was $13,794,- 000, equal, after preferred dividends. to $9.83 a share on $120,000,000 com- mon stock, compared with $12,321,000 in the same period of 1925, or $8.50 a share on the common. Class work at Washington Chapter, American Institute of Banking, began last evening in the new headquarters in the Becker Building, the enrollment being highly gratifying. The work in two courses started last evening, one being commercial law, taught by Ray- mond B. Dickey, dean of the faculty, and the other accounting, in charge of Willilam M. Deviny. Tonight the work begins in banking fundamentals. This course is offered by Elot H. Thomson, and s expected to have the largest number of students in any study. F. J. Donahue will also give the first lecture this evening in his important course in standard econom- ics. The new course in invest- ments, which will be taught l Y. E. Booker, will also meet for the first time tonight, when the instructor will outline what the students will be ex- pected to accomplish during the first semester. Directors’ Dinner This Evening. Francis M. Savage, president of the Central Savings Bank, will pre side at the annual dinner of the offi cers and directors of the bank which takes place this evening at Common- wealth Farm, and at which tha fol- lowing will be among those present: Charles W. Morris, vice presiden A Willlam Roberts, cashier; C. Edward Way, assistant cashier and new busi- manager; Dion S. Birney, attor- and these directors, Gregg C. Birdsall, J. Floyd Cissel, B. H. Gruver, Frankin W. Harper, Jesse H. Hedges, Judge George H. Mac- Donald, Judge Milton Strasburger and Carden F. Warner, Spencer Gor- don, Dr. E. F. Sappington and Wes- ley Morris will he among several spe- cially invited guests. Visitors Inspect Local Bank. Several out-of-town bankers have recently visited the Federal-American National Bank to inspect the elevated banking room and the cageless count- ers. Among them were Maj. Jackson AL Painter, trust officer, West Branch National Bank, Williamsport; Willlam E. Katenkamp. vice president, Na- ‘tional Centeal Bank, Baltimore; Allen R. Rankin, assistant secretal Buck- eye State Building & Loan Co., Co- lumbus, Ohio, and C. A. Spoerl, vice president, First Natlonal Bank, Jer- sey City. Coal Prices Stiffen. Even with soft-coal production in- creasing by leaps and bounds, prices have been moving higher. Foreign buyers, who for about four months have been able to keep prices down by cautiously regulating purchases, are now losing their grip on the situation, says Black Diamond. Domestic buy- ing in the American market that had been delayed for weeks in the ex- pectation that the British coal strike would soon end can walt no longer, and is now an active market factor. Price is no longer as important as gplting the coal. Ixport demand is absorbing more than what ordinarily would be the excess production over normal con- sumption. Other Financial Notes. The Federal Reserve Board's con- dition statement of 694 reporting jbanks in leading cities as of Septem- ber 22 shows reductions for the weck of $57,000,000 1n loans and discounts, $34,000,000 in investmenis and $371,- 000,000 in net demand deposits, and an increase of $86,000,000 in borrow- ings from Federal Reserve Banks. Oversubscription is reported to the offering of $3,000,000 Bayway Ter- minal 61; per cent first mortgage sinking fund bonds. F. S. Wynn of this city, vice presi- dent of the Southern Railway, who was elected a director last Friday. takes the place on the board made ;afl’v_nt by the death of Robert Jem- son, sr. MACHINE TOOL SALES i SMALLER IN VOLUME Inquiry for Equipment Meets With Temporary Setback in Large Trading Centers. NEW_ YORK, September 28 (Spe- cial).—Business in machinery and ma- chine tools did not come up to ex- pectations in the past week. Sales awaiting only official sanction to close have been held up indefinitely. In- quiries also have fallen off, American Machinist reports. Many believe this a temporary lull brought on by the steel and machine tool exhibition in {Chicago, which offered an opportunity to see machines in operation before confirming orders, Reports from various industrial cen- ters revealed a rather spotty condi- {tion. New England plants are busy {and the volume of orders and inquiries iencourages optimism. The New York district reported quiet trading. In Buffalo the situation has improved but slightly. There was a better de- jmand for industrial machinery in the Philadelphia market. Detroit experienced moderate im- iprovement in the call for equipment from automobile and accessory man- ufacturers. The show in Chicago oc- |cupled the attention of buyers and | sellers in that city, but the results are not yet apparent. Satisfactory orders and a steady inquiry featured opera- tions in the Cincinnati district. Mod- erate activity continues in Milwaukee, with automotive and railroad needs lpmmmng good business for the re mainder of the the year. BANK CI.EARIN GS NEW YORK, September. 28 (Special). —New York bank clearings, $924,000,- 000; New York bank balances, $96,- 000,000; New York Federal Reserve | Bank credits, $83,000,000; Boston bank 1 clearings, $68,000,000. TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.) US4Y%sb2. 1 10716 FOREIGN. Argentine 5s. Argentine 6s Ju 59. Argentine 6s Oct59 Argentine 6sA. ... Argentine 6s B Argentine 7s. Australian 5s Austria 7s. ... Bank of Chile 6%s. Bank of Japan 6s.. Belgium 6s. Belgium 6%s Belgium 7s. Belgium 78 Belgium 8¢ Bolivia 8s. Bordeaux 6s. Brazil 7s Brazil §s. Canada 6s 1931 Canada 5s 1952 Canada 5%s 1929 Chile 75 1943 Chile 85 1941, Chile 851946 Chinese Gov Ry 55. Con Pow Japan 7s. Copenhagen 5% Cuba 5143 Czecho 7s rets. Czecho 85 1951 . . Czecho 85 1952 ct. Danish Munic 8s B Denmark 6s. Dutch East 1 6s 47. Dutch East I 6s 62. El Salvador 8s 48. . Finland s f 6s 45. .. Finland 7s. v Framerican 7 French 78 French 7is French 8s. German EI'P'§ ‘&s German 7s. . Ger Gen Elec 7s. Greek Ts Haiti 68. : Holland-Amer 6s. . Hungary 7%s. Ttaly Japanese 613s. Jergens U M 6s Lyon 6s. . ¢ Mexico 4s 04 asntd. Mexico 43 10 asntd Netheriands 68 54. Nord 6%s. Norway 5%45. Norway 65 1943. Norway 6s 1944. Norway 65 1952. Orient Dev deb 6s. . Paris-Ly-Med 6s Paris-Ly-Med 7s. . Paris Orleans 7s Peru 7%s Peru 8s.. Poland 6s Poland 8s Prague 71s. Rhinelbe Un 7s Rio de Jan 85 1946.. Rio de Jan 8s47. . Sao Paulo City 8s.. Sao Paulo 85 1936. . Sao Paulo 1950 Saxon (PW) 7s. Seine 75 42. . Serbs Crot Slo 8s. . Soissons 6s. . Sweden 518 ct. Swiss 515 1946. Swiss Confed 8s. Toho Elec Pow 7s Utd Kingm 5148 Utd Kingm 5 Ajax Rubber 23 Am Agri Chem 7 Am Repub deb 6s. . Sales. High. Low. 3 4 16837, 106 MIQCELLANEOUS Am Smit & R 1st 53 11 Am Smit& R6s... Am Sugar ref 6: AmT&Tcltrds.. AmT& Tel tris.. AmT& Tst5s. AmT & T deb 5%s Am Water Wks 5a. Am Writing Pap 6s Anaconda 1at 6s. . . Anaconda cv db 7s. Andes Cop 7s rets. Armour&Co 41:srf Armour Del 51s. . Atlantic Refin 5s.. Barnsdall 65 ctfs Bell Tell Pa 5s B Bell Tell Pa 55 C Beth Steel pm 65 Beth Steel rf 5s.... Beth Steel 5145 53. Beth Steel 6 Bkiyn Ed gen Bklyn Union 5 Calif Pete 6145 Chile Copper Cen Leath 6s 45 cfs 2. Con Coal Md 1st §s. Con Gas N Y 5%s. . Consumers Pow 5s. Cuba Cane cv 7s. .. Cuba Cane cv 8s.. Det Edison 55 40. Det Edison ref 6s. . Dodge w i 6s.. Donner Steel 7s. Duq L & P 5%s49. Duquesne Light 6s. Est Cuba Sug 7%4s. Empire G & F T12s. Goodrich 6%s. . Goodyear 8s 1931. Goodyear 85 1941. . Hershey 5%s Humble O & R Tilinois Bell 1st 5s. Int Mer Marine 6s. Int Paper 5s 47 Int Paper 6s. It T&TH%S..... Kan CP&L 58 A 52. Kan G & EI 65 62 Kelly-Spring 8s. Lacl G ref 58 34 Laclede G 5 %s Liggett & Myers 5s Liggett & Myers 7 Lorillard (P) 5s. . Louisv G & E 55 52 Manati Sug sf 7%s. Mid.Con 6348 40... Midvale Steel Montana Pow 5: Mor's & Co 1st 4155 Nat Tube 1st N Y Tel 4%s. Y Tel 65 41.. Y Tel6s49...... North Am Ed 6s. .. Nor States Pow 5s. Pac Gas & E15s. PacT & T 1st5s... Pan-Amer Pete 6s. Peoples Gas 68. .. Producers & Rf 8s. Public Service 6s. . Pub Serv Elec 6s. . P Serv Gas 5%s859. Punta Alegre 7s. .. Remingtn Arms 6s. Sharon Stl H 8s. Sinclair Ofl 6s. Sinclair Of1 6%s. Sinclair Oil 7s. 8in Crude Gil 6s. ‘Tenn Elec Pow 6s.. Toledo Edn 1st 7s.. US Rub 7%s U S Steel sf 5 Utah Pow & Lt §8. Vertientes Bug ¥ 1 105% 5 120'% 10716 107 16 Clos 9214 941, 100% | B & O 552000 . 103% 104 991 4 10 10.)‘»; 10! 1057 103% 110 10: 10: 10: 10; 10: q 10, 981 t 10! 10: oav | Va Ry & P s 9 10 92% 98% 78, . 95% | Pennsyl 614s. a8 105 106% 103% 105 105% 110% 1200 5% | Union Pac 45 27 Atchisongen 4s... 17 91% Atlantic C L cl 4s.. se {Atlan CL 4135 64.. Atlantic C L 7 Atl & Dan 2d 4s 48 B & O gold 4 R&Ocvi% R & Oref is B&Olstisct. B&Orfimp 6s B & O SwDiv bs ofs B & O Toledo 4s. Bklyn Manhat 6s Buff R & Pitt 4% Canada Sou Can Nat 4155 30. Canad Pac deb 4 Car Clinch&O 6s 52 107% Centof Ga6s...... 10215 Central Pacific 4«. 9 91 Cent Pac 1st 5= 90. 100% Ches & O cv 414s. 98% Ches & O gn 415 E 96 Chi & Alton 313s. .. 60 Chi B & Q 1st rf 58. 105% Chi& ETgn 7% Trent West 4% 6874 54 B4y 541 bdly 8215 54% 02 230 e aELLEBURneame 0 104% 98% 84% 2 CIR CM&StP deb 4s cfs. CM&StPgn8g) CM&StPevd CM&SPevilosd2els 3 CM&StPriangs. 1 CM&StP r 4155 cf14 94 CM&SP ev 5s ofs 14186 CM&StP6s.... ChI&NW 4% s 1987, Chi RT& D zn ds.. ChiRT& Prf4s ChiTH &S E5s.. Chi Un Sta 4%s. Chi & W Ind cn 4s. C& W T5%s62 COCR ST, CCC& St T Cuba R Cuba R R 7% Cuba N R 6s 66. De! & Hud cv 5s 35. Den & Nie G D& Rin D Rio ( West ie 1st cons 4s. Erie conv 4s D Frie conv ext 7s. Frie & Jersey 6s. E < (‘refln B& W dn B! 5s. Hud & Man aj 11l Cen 45 53 ; T11-C-C StL&NO 58 Int Rap Tran 5s... 18 Int Rap Tr 5s stpd. 41 Int Rap Tran 6s... 21 Int Rap Tran 7s... 42 Int & G Nor 1st 6s. Int & G Nor ad 6s Int Rys C A 5s 72 Int Rtep C Am 63 41. 11 Towa Cent 1st c Kan City Ft S 4s Kansas City S Kan City Term 4s. Lake Sho! Lake Shos 2 10814 106'% 106% 9% 97 9T 97y 204 19% Louis & Market \mMm&L 2 M& St Listrf 4s MK&TprinssA. MK &T 6s C Mo Pacific gen 4s.. Mo Pac 6549 D.. Mo Pac 6s 55 E Mont Trm ref 55 41 Nassau E R NY Cengen3y; N Y Cent 15 98 NY Cent deb 4s. NYCrfim4y 1\ Y Centri New Hav deb 4 New Havenc d 6s. . NY 3 Nor & S gen 5s 34 Norfolk & W en 4s Northern Pac 3s. Northern Pac s. . . | Ore Short L rfs 4s. Ore Wash 1st 4s... Pennsyl con 4145 Pennsyl gen 435s. . Pennsyl gold 7s Peoria & E inc 4s Pere Marq 1s PC Port I{ L& Phs 42, Reading zen 41s. . Rio G W t el 45, D RIATk& L 4% o | StLIM&S 4529 254 | St L IM&S R&G 4s. 20 |StL&SFplasA: 47 31 | St L& S F inc 6s. 51, | StL S W con 15 32, | St P & KCShL 4%s Seahoard AL {ssta 6 Seab A L adj 5s Seab A L con 6s Seab All Fia 6 | Sou Pac 4s 2 9% | Sou Pacific ref 43 Term Asso S L 4s {Texaq& Pacific 1st o | Third Ave ref 4s.. 1% | Third Ave adj5s. .. 91Y | Tol St L& W 4s. . i | ol Tr L&P 53%s 30 [ Union Pac 1st 4s. 9 SiRanm-Bomtreanan~ 2%, | Union Pac 1st r *! Virginia Ry 1st Wabash 18t 5s. . Wabash 2d 55 .. Wabash 515 75 | West Maryiand g 994 | West Shore 1st 4s. 86% 85% Whel & LErf4%s 8 90% 90% B,UBBEB FIRHEE NEW YORK, September 28 (Spe- | cial).—Crude rubber showed a slightly | firmer tendency today, although quo | tations were littlé changed, quotations 1" |standing at 43 cents a pound, as o | against 403 last month and 90 cents 08% 10.»’. last year. COTTON GOODS QUIET. NEW YORK, September 28 (Special). The market for cotton cloths was quiet but steady today, with stundard print cloths quoted about 3 cent Raw. silk, both here and in Predicted. GEORGE T. HUGH Special Dispatch to The Star NEW YORK, September 2§ In spite of continued uncertaint: about money, investment honds wern more active and a shade firmer toda than yesterday. The weekly stats ment of the Federal Reserve membe banks showed a falling off in inves ments, of United other hand. the comparatively rowings from banks. A raising of the rediscount ra not this week, then in the mear f ture, was freely predicted. but bond« were unaffected. Fractior higher prices were reported for Atchison get eral 4s, Canadian Pacific 4s, which vere In unusually good demand ion Pacific first 4s. and_Southern ilway general 4s. New York, Ch g0 and St. Louis 51:8 crossed 101 within a fraction of the year's h and_there was a display of strengtl in Rock Island. Arkansas and Louisi ana 4138, Atchison convertible 4s o 1909 had a brief run-up. In the spaculative group there wi more irregularity. Chicago G Western 4s were heavy, selling dow compared with their recent hiz nvertible D 4 curities. statement revealed & increase in ho the Federal Reserve changed hands in with little net chang collateral 6s got down to feature among the utilities v Iyn Union Gas 3lgs, which ran up points on the conversion New Yor! 6145 down at one time nearly 3 poin The sugar bonds were well support and Marine 6 kept the gain of the preceding day. Net changes in the foreign list wera small. Italian 7s sold below 92, again uninfluenced by the more optimisti teeling ahout Italian finances as evi denced in the exchange market. Ior most of the time also French bonds were inclined to saz. The German group held its own well, and Rhineliw 7s were a little higher. New Bond Issues NEW YORK, September 8 (Spe cial.—The largest new offering of that of $5.000000 Stan all Co. of Washington first mortgage 6§ per cent sinking fund gold bonds due August 1, 1946, priced at par by a group headed b B. Smith & Co. and Brown Bros Co., The proceeds of the sale of these bonds will be used: For satisfaction of existing liens, for construction, for acquisition of property and for gen eral corporate purposes. This com pany Is a subsic of the Stanley Co. of America. one of the foremost exhibitors of motion pictures, who guarantees payment of principal and Interest by indorsement. W. C. Langley & Co. Stuart & Co., Inc., announce a new issue $2,750,000 first mort 5 per cent gold bonds, series “A" of the Arkansas Water Co. of Little Rock. The bonds are offered at X to yleld 5.30 per cent, and being m to ‘provide funds for the retirement of the compan existing indebted. ness, including all bonds outstanding and for additional extensions and im provemets, as well as other corporate purposes. The Old nd Halsey e of Colony _Corporation offer of $1,093,000 City of Mo., 4% per cent honds from 192 prices to )ll‘]d from 4.10 to 4.1 ent. These bonas are legal invest ments for savings banks in New york, Massachusetts, Connecticut and other State: WHEAT PRICES MOVE UPWARD SHARPLY Unexpected Advance in Liverpool Quotation Sends Values Soar- ing in Chicago Today. By the Associated Press. CHICAGO, September 28.—lielped by an unexpected advance in Liver- pool quotations, wheat werit sharply upward here today during the early dealings. Nearby deliveries abroad were reported scarce, With high premiums for good wheat in the United States acting as an additional strengthening factor. Starting at % to 2 cents gain, Chicago wheat values held near to the initial figures. (‘orn and oats were also firmer, corn open ing 13 to 1 cent up, but later re- acting. Provisions tended down quarters surprising strength of the Liverpool market to ay was explained as being at least due to American buying called spread trading in that is, purchases at Liver ,,nnx “against simultaneous selling here. On the other hand, cable ad vices from Liverpool referred signifi- antly to recent crop damage in Can ada and to continued liberal estimates of European import needs. As illustrating dearth of immediate supplies of wheat in Europe, a dis patch from Naples, Italy, today wis cited which h 2 amber wheat had sold 8215 bushel on arrival, whereas the cost of Oc tober shipment is only $1.69. Italy was also reported buying ahead new wheat from Australia Septomivr Dee Decenmber ay T September Decomber Septemner . December May 1064 SHORT-TERM SECURITIES. (Reported by J. & W. Seligman \"‘m;,:‘_'. ot i Adir. P& . Corp 6is At "ca of Afes Rardnda. Con ’ G & \unh-m 7s 193 it 0N Corn Pa fershey Chos nm. Humble hige Lok Pow. 3107 melting 31 Wentinghouse Wisconsio: Cent. B Siae i