Evening Star Newspaper, October 6, 1926, Page 30

FIN BEARS AGAIN WIN INSTOCK MARKET Professional Traders Battle for Control, With Short Side Favored. BY STUART P. WEST. Bpecial Dispatch to The Star. NEW YORK, October 6.—On the Stock Exchange today there was plen- ty of evidence of professional opera- tors working at cross purposes. The buying side held the advantage for an hour or more. side got the upper hand. In the later trading ‘the price movement became extremely irregular, with the party working for a rise concentrating on General Motors and a few other stocks. One_thing was certain and that was ANCIAL. ‘| NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Open. High. Abitibl Pow (4). 93% 93% Abrahmé&Straus Adams Exp (6). Adv Rumley.... umada (t1).. T Reductn (16) Ajax Rubber.... Albany Papr (2) Allied Chem (4). Allis Chalm (6). Amal Leather Amerada (2). ... Am Agricul Chm Am Agri Ch pf.. | Am Bank N 1.60. Am Beet Sug pf. Am Bosch Am Br Bov EI(2; Then the selling | Am Br Bo pf (7) AmCan (2).... Am Car&Fay (6) Am Chain A"(2). Am Drug....... Am Express (6 Am & For Pow. . Am & Fo P pf(7) that while prices rallied sharply at|Am Hide & Lea. the outset they came off very easily later on. U. S. Steel went up 2 points in response to Judge Gary's statement that unfilled orders for September would show an increase. whereas Wall Street had _anticipated a decrease. Atchison rebounded from_yesterday's close of 149% to above 151, but in a half hour lost more than all its gains. The same was true of Chesapeake and ©Ohio, which rose over two points, but came down the same amount in quick order. The strongest of the Van Sweringen stocks was Erie first preferred, which crossed 50 for the first time this vear. Two reasons were advanced, one that under a remodeled merger plan holders of the Erie firsts might do better, the other that the stock wes in line for dividends. Erie com- mon got above 38, as against the Am Ho P (2.40). Am Ice (110). Am Ice pf (6). Am Intgfnatl. Am La¥r(1)... Am Linseed. ... Am Linsd pf (7) Am Loco pf (7). Am Mach & Fy.. Am Metals (4).. Am Po&Lt (g1). Am Ry Exp (6). Am Safety R (3) Am Sm & Ref (7 Am S & R pf (1) Am Snuff (12).. Am Stl Fdys (3) Am Sugar (5).... Am Sugar pf ( Am Sumatra. ... 55 125 18% Ad Rumley pf(3. 67% 57% 6% 131% 8% 261% 1356 88y 16% 30% 14% 47% 41% B8Y% 17% 42% 9 15'% 82% T 256% 70 117% T2% 47 6674 81 67% 137 120 1234% 37 previous close of 36%, but both classes | Am Tel & Tel(9) 146 of stock vielded when the general| Am Tobacco (8). 120% 12 market became reactionary. ‘American Smelting, after its disap- pointing action on the increase in the dividends, did better for a time, and so did Kennecott. But in the Jater trading the copper and smelting issues followed the course of the main body. One of the features was the violent break in certain industrial specialties. Manhattan " Electrical Supply had a sheer drop of more than 7 points. Continental Baking A, on top of a smash of nearly 5 points, had a fur- ther fall. Mack Trucks, getting ready for a poor earnings statement, sank below par on the first occasion in 1926. These declines were the result of a withdrawal of supporting orders and a certain amount of forced Mquidations induced by the severe price depreciations. Manhattan Elec- trical Supply was off 10 points or more on top of vesterdays S-point drop. This is the sort of thing that occurs when the market is in the process of housecleaning after the speculative campaign, which involved excesses in a _good many quarters. Mack Trucks encountered support at its low figures and this, along with a short covering, brought about a rally. General Motors showed the ef- fect of reinforced buying pWwer and Wall street was not slow to guess where this came from. Oil shares, like Texas Co. and Phillips Petroleum, were sluggish. Some of the railway equipment issues were Strong, espe- cially Baldwin and American Loco- motive. These stocks on the pre- vious days had demonstrated their ability to rebound easily whenever the general market condition per-|Burns Bro (10)..134 mitted. ANOTHER NASH MELON. KENOSHA, Wis., October 6 (#).— Nash Motors Co. directors, meeting here, voted to distribute another $2,730,000 melon to the company’s shareholders, bringing total payments for the year up to $10,920,000. The dividend was declared in the form of a regular 50-cent quarterly payment and 50 cents extra on the new split-up stock, of which there are 2,730,000 shares outstanding. Total earnings for the first nine months of the fiscal year aggregate $14,791,891.2%, or $5.41 a share, com- pared with $11,133,411.29, or $4.07 a share, in the same months of 1925. Concerning the business outlook, President C. W. Nash said: As I view conditions, there is every sound reason to anticipate con- tinued good business throughout the remainder of the year, and I believe we are Jjustified in expecting the country’s commercial activity to pro- ceed through 1927 on a favorable basis.” CAR LOADINGS DROP. Loadings of revenue freight on the railroads in the week ended Septem- ber 15, declined 4,071 cars from the record total of the preceding week, 1,182,940 cars being loaded, the Ameri- can Railway Association announced today. Compared with the corresponding week last year, this figure showed a gain of 61,915 cars. Livestock loadin amounted \ol 39,723 cars, an increase of 123 cars over the week before; miscellaneous freight 448,270, decrease of 2,301; grain and grain products, 50,915, decrease of 219; merchandise and less than car- load lots, 841, increase of 47; coal, 211,722, increase of 5,084; forest prod- ucts, 69865, decrease of 3131; ore, . decrease of 3,566 and coke 12,- 363, decrease of 108. TRON PRODUCTION GAINS. NEW YORK, October 6 (P).—"As rall rollings for 1927 will be on no con- siderable scale for several weeks, con- tinuance of the present rate of steel production hinges largely on the ex- tent to which orders come in this month and next., for plates, shapes and bars,” Iron Age says. “Present bookings of these products are not equal to the rate at the beginning of | the third quarter or of either of the two preceding quarters. Pig iron production last month was larger than for any September since that of 1918, when the war effort was at its height. For the 30 days the total was 3, or 104,543 tons a day , had a greater tons, but a lower daily ,241 tons.” TIRE PRODUCTION HIGH. NEW YORK. October § (#).—Pri- vate dispatches to Wall Street say a survey of leading Akron manufac- turers shows sales and production of automobile tires and tubes by the rubber industry established a new high record for the third quarter this vear. The output in the Akron dis- trict is said to be more than 50 per cent of the country's tire output. Conservative estimates place the to tal tire production for the quarter in excess of 9,000,000 in the Akron dis- trict. where daily production has been around 130.000 casings and 150,000 tubes. and at present is only 5 to 10 per cent below those figure: o RUBBER IS LOWER. “NEW YORK, October 6 (Special).— Crude rubber was lower today at 42% & pound. This compares ¢ with 40% last week and 98 last vedr. POULTRY PRICES FIRM. CHICAGO, October 6 (#).—Poultry -—Alive, firm; receipts. 7 cars; fowls, Am Tobac B (8). Am Wa Wo c1.20 Am Woolen. .. .. Am Wool pt (7). Am Zinc pf.. Anaconda (3). Archer-Daniels. ArmourDel pf (7 Armour of T1I(A} Armour of 111(B) Arnold Cons&Co Art Metal (1)... Asso Dry G(2%) Asso DG 2d (7). 1204 51 28% 106 6% 131% 8% 26% 1357 AllledCm pf (7). 120'a 120% 17% Am Brake Sh(6) 135% 135% 42 95% 63 9914 25 9 - 125% 125% 15% 83 ! 70 A Locomot (8) 104% 106 17% 72% 47 67 Am Radiator (4) 113% 113% 81% 70 138 120 123% %, 120 08 28% 9 a2 487 106 Atchison (7).... 150% 151% Atchison pf (5). Atl Birm & At. .. 991 1% 99% 1% Atl C Line(19%%) 202% 203% Atl Gulf & WI.. Atlantic Refing. 30% 108% 31 108% Atlan Ref pf (7) 116% 116% Austin-Nichols. Austin Nic pf(7) Baldwin L (7).. Bald Loco pf (7) 9% 68 123 110 9 68% 123% 110 Balto & Ohlo (6) 102% 103% Balto & Oh pf(4) Barnsdall A (2). Bayuk Cigar. . Beech-Nut (13). Belding Bros(3). Bethlehem Steel. Beth Stl pf (7) Bloomingdale. Briggs Mfg (3). BkinEdison (8). Blkn-Mn Tr (4). Bk-Man T pf(6). Bkin Un G(t11). Brown Shoe (2). 3% 26% 45% 541 30% 48% 104% 32% 29% 154 60 3% 26% 45% b4y 30% 48% 105 82% 29% 154 Brunswick Balk. 35'% 35% Brunswick Ter.. Burns Br B (3). 13% 32% 13% 134 32% Burroughs (14). 113% 113% Bush Terminal. . Bush Trm pf(7) 103% 103% 59 Butterick....... By-Products (2) Calif Packg(4).. Calif Petrol(2).. Callahan Zinc. .. Calumet & Ar(6) Calumet&H(1%) Can Dry (c2%).. Can Pacific (10! 27% % 68 314% 1% 66% 17 162% 2% 59 % 68 31'% 163% Case Threshing. 160% 161% Case Thr pf (7). Central Alloy (2) Cent Leather. ... Cent Leather pf. Century Rib M Cerro De P (4).. Certain-Teed (4) Chand-Cleve. ... Chand-Cle pf (4) Ches & Oh (t12) Chi & Alton. Chi Great West. Chi Gr West pf. Chi Mil &St F.. Chi Mil & St F p CMil& St P ctfs C MiI&StP pf cts Chi & Nwn (4)-. Chi R1& Pac. Childs (32.40)... Chile Cop (2%) . Christie B (1.20) Chrysler Corp(3. 111 81% 84 57% 15 62% 42% 13 29 171 5% 8% 43% 9% 26 1012 191 10% 18% 6% 64 48% 35% 34% 59% 15 64 42% 13 29 1724 5% 8% 431 9% 265 10% 20% 10% 19% 762 64% 48% 32 354 35% Chrysler pfA(8) 101% 101% Cluett Peab (5) . 634 63% Coca-Cola (7)... 1561 157 Collins & Aikmn Collins&Alk pf 7 Col Fuel & Iron. Colo Southern. . Colo Sou 1st (4). Col Gas & El (5) Col G&El efs (3) Col G & E pf (7 Col Carbon (4) Com Cred (2). Com Crrf (1%). Com In Tr pf 6% Com Solv B (: Congoleum-N.. Congress Cgr (3] Con Cigars (7).. Consol Cigar rts. Consol Distribut 57 114 46 80% T2% 81% 81% 114% 641y 26% 23 90% 191% 23% 49t 8% * 25 57% 114 46% 82% 2% 8174 81% 1141 1941 237 49% 8% S5 © on, Consol Gas (5).. 106% 107% Cont Bakg A (8) Cont Baking B.. Cont Bak pf (8). Cont Can (16)... Cont Insur (6).. Cont Mot (80c). Corn Prod(t2%) Corn Prod pf(7) Coty Inc (4).... Crucible Stl (5). Cuba Cane Su pf Cuba Co (4).... Cuban-Am S (1). Cudahay Pkg(8) Cushman's (8).. Davison Chem. . Del & Hud (9).. 63 9% 133 1 46k 124% 215 2% 427y 32 24% 104 7 32% 170% 631 9% 20 133 11 46% 124% 53 2% 43 324 247 104 97 33 171% Del L & Wn (17) 142'2 142% Detroit Ed (8).. Devoe&Ra(2.40) Dodge Bros Cl1 A Dodge pf (7)..... Dome Mines (2). Douglas Pec (2). Dupont (14). Dupont deb ( Duquesne pf (7) Eastman (13). Eaton Axle (2) E! AutoLt(16%) Eisenlohr & Bro. Electric Boat... Elec Power & Lt Elec Refrig (c2) Elk Horn.... Emrsn-Br pf cf. End-John (5)... Endicott pf (7). Engnrs PS pt(7) Equitable pf (7) 120% 120% 1 Fairbanks (3)... Famous P (§8). ¥amous pf (8) .. FedLight(*1.40) Fed Min & Smelt Fed Min pf (7). Fed Mot T (180¢c) Fifth Ave (64c). 138 35 254 831 10 38 340% 107% 115 17% 25% 684 124 8% 174 59% 1% 9 661 119% 933, 374 48 138% 35 25% 831y 10 38 345% 107% 115% 1174 25% 684 12% 8% 174 59% 1k 94 6614 19k 93% 38 50% Low. Close. 93 117% 251 68% 12 934 19% 3T% 48 46% 47w 45% 53 53 52% 46%s 46% 46l 46! 115% 116% 114% 116 122 324 20 2% 27% 14% 26%%; Springs, 2313; turkeys, 34; roos- | First Nat S(1%) +30 ters, 18, ducks, 23; geese, 20, v - B 122 32% 90 2% 28 122 32 90 2% 27% 56 122 82 90 2% 27% 14% 14N 4% 30 30 30 | Fiek Rubber. ... Fisk 1st pf cv(7) Fleischmn (123) Foundation (8). Fox Film A (4). Freeport-Texa: % Gen Asphalt Gen Asph pf (5) . Gen Am Tnk (3) Gen Cigars (4).. Gen Elec (h3)... Gen Elec sp (6 Gen Motors (7). Gen Mot pf(7). . Gen Outdr Ad(2) Gen Outdr A (4) Gen Ry Sig (15). Gen Refrac (3) Gimbel Bros. Glidden (2). Gold Dust. Goodrich Ru (4) Goodyear pf (7). Goodyr pr pf(8). Gothm S H (215) Gotham pf Granby Consol. . Grt North pf (5) Gt Nor Ore (1%) Grt Wstn Su (8) Green'Canan Guantanamo. ... Gulf Mo & Nor. Gulf States (5). Hartman (B).. . Hayes Wh(t3) Hoe & CoA..... Homestake (17). Househd (13%). louston Oil.... owe Sound (4) . HudsonMan(21g Hudson Mo(31) Hup Mot (1.40). IMlinois Cen (7). Indep Ol (1)... Indian Mot (115) Indlan Refining. IndianRefg ctfs Ind Ref pf (7). . Inland 8t (2% ). Inspiration (2). Interbor Rap Tr. Intcontl Rub(1). Internat Agri... In Ag C pr pf(7) Int Bus Ma (3).. Int Cement (4).. Int Com Eng (2) Int Harvstr(6).. IntMtch pf(3.20) Int Mer Mar pf.. Int Nickel (2).. Inter Nick pf (6) Int Paper (2). Int Paper pf (7). Int Tel & Tel (6) Jewel Tea. .. Jordan Motor. KCP & L 1st (7) Kan City South. Kan C So pf (4). Kayser J (3)... Keily-Spring. .. Kelsey Wh (6). Kels Wh pf (7). Kennecott (4).. Ifinney G R (4). Kinney pf (8)... Kresge SS(1.20). Kresge Dept S.. Laclede Gas (8). Lago Oil & Tran. mbert (3%). . Lehigh Val(314) Leh&Fink stf(3) Life Sav (1.0)... Lig& M B (14). Lima Loco (4).. Liq Carb (3.60) .. Loew's Inc (2). . Loft... Long Bell 7_00se Wiles. 1Gose W 2d ( Lorillard (§2). Lorillard pf (7). Louisiana Oil. . . Lou&Nash(16%) Ludlum Steel (2} MecCrory B 1.60. Mack Trucks (6) Mack T 1st (7).. Mackay pf (4)., Macy HR & Co. Magma Cop (3). Man EI Sup (5). Man El m g (D5) Man Shirt (11%). Manlla Elec (2). Maracaibo Ofl Market Street. Market St prior. Market St 2d pt. Marland Oil (4). Martin-Pary(2). Mathieson (4).. May Dept St (5) Maytag Co (2).. MetroG pf(1.89) Mexican Seabd. . Miami Cop (1). Mid-Continent. Middle States. Midland pt (112) Miller Rub(2).. Minn & St Louls M St P & SSM pt MStP&SSM 1i(4) Mis Kan & Tex. . MoK & T pf (6). Missourt Pacific. Missouri Pac pf. Montana Pow (5) Mont Pow pf (7) Montgom Ward. Moon Mct (3)... Mothr Lode(75¢c) Motor Met(3.60) Motor Whi (2).. Mo Picture(1%) Murray Body ctf Nash Mot (13).. Natl Acme...... Nat Biscuit t41% Nat Biscu pf (7) Nat Cash Reg(3) Nat Cloak & Suit Nat Cloak pf (7) Nat Dairy (3)... Nat Dpt Stores Nat D St 1st (7). Nat Distillers. Nat Distillers pf Nat Enamel & 8. Nat Enam pf (7) Nat Lead (8)... Nat Pw&Lt (80c) Nat Fy Mex 1st. Nat Ry Mex 2d Nat Supply (4) Nat Sup pf (7).. Nevada Cop (1) . NY Air Brake(2) N Y Canners(c2) NY Central (7).. NY Chi&StL(11) NY Dock. . NY Dock pf (5). i NY NH & Hart.. NY On & West... NY Rys part efs NY Steam pf(7). Niag Fpf (1%). Norfk & Wn (13) North A (B3.40). North Am p£(3). NorAm Ed pf(7) North Pac (5)... Norwalk (80c). . Nunnally (1.50) . Oil Well Sup (2) 9 rpheum Cir(2). Otis Elevator (6] | Otis Steel....... Owens Bot (14). Pacific Gas (8), . Pac Ol Stubs. .. Packard (12.90). Paige Mot(1.30). Pan.Am (6). Pan-Am B (6). Pan.AmWnB(2). Panhandl Panhandle p Pathe Ex (c3). Penick & Ford. Penn C & Coke. . Pennsy RR (3). Penn-Seab Steel. Peoples Gas (8). Peoples Gas rt: Peoria & East. .. Pere Marq (18). [\Pere Marq pt (5) Pere M prior(5). Phila&RC&T Philip Morris. .. 55% 97% 118% 39 18% 111% 46% 66 42% . Low. 16% 97U 207% 121 25 Y 181% 22 237 9% 167 30 1 112 37% 22 [18% _15 58% T4 93 128 39% 24% 6% a3 2% 70% 114 14% 417 35% 134 192 34 0% 40% 237% 15% 334 - 131 60!y 28% 115% 8% kil 129 1% 344 34% | worthn Pump. . 141y 6214 621 | wrignt Aero (1) 62% 327 14% 14% town (4) 70 70 ‘Youngs! Close. 15% 9% 4% 85 115% 38n 18% 111% CAPITAL TRACTION STOCK LEADS | IN TRADING ON EXCHANGE HERE l : [National Mortgage Investment Preferred Changes Hands at 84—Other Prices BY EDWARD C. STONE. Capital Traction and National | Mortgage and Investment preferred ‘4| were the leaders in the trading on the Washington Stock Exchange to- day, prices remaining_firm and prac- tically unchanged from yesterday. Capital Traction opened at 103% and advanced to 1037 on the next three sales, closing at 103% for a single i hare. Two hundred and fifty shares of Na- tional Mortgage and Investment changed in four transactions at 8%, the same price at which the st Potomac Electric 90%. One bank stock and one type stock appeared on the board, 10 shares of Union Trust Co. stock, which is | now® ex-dividend, selling at 223%, and 14 shares of Mergenthaler Linotype going at 106%5. Washington Gas Light sold at 70%. In the bond department, Chesapeake & Potomac. Telephone s sold at 101, Washington Gas 5s at the same figure, —_— e T Phillips Pet (3). 47% Phoenix Hoslery 38 Phoenix pf (7).. 101 Plerce-Arrow... 25% Plerce-Ar pf (8). 112% Plerce Perolm.. 2% Pitts Coal...... Postum (5) Pressed Stl Car. Prod-& Refiners. Pub Ser N J (5). Pullman Co (8). Punta Aleg Sug. Pure Oil (1).... Radio Corpof A. Radio C pf (3%) RS1ICefs (4). Ray Copper(25¢) Reading (4).... Reading rts Reading 1st! Real Silk Hos Reld Ice Cm (3). Remington Type Replogle Steel.. % Rep Ir & Stl (4). Reynolds Spngs. Rey Tobac B(5). Robt Rels & Co. . Rossla Ins (6).. Royal D (a3.078) Rutland pf. Safety Cable (4) St Joseph Li(1).. StL & SanFr (7) St L Southwest. St L Swn pf (5). Savage Arms. Schulte (§).. Seaboard Air L. Seab AIrLipf. .. Sears-R (n 2%). Seneca Copper. . Shattuck F G(2) Shell Un (1.40). Shell-Un pf (6). Shubert The (5) Stmmons(2.25). Simms Pet (1).. Sinclair Ofl..... Stnclaiz pf (8).. Skelly 01 (2) Sloss Sheff (6).. South Port S () Sou Cal Ed (2).. Sou Dadries A (4) Sou Dairfes B... South Pac (6)... Southern Ry (7) South Ry pf (5). Spicer Mfg..... Std Gas & El g3. Std G & El pf(4) Std Mill (5).... Std Oil Cal (2). Std Ol NJT (1).. Std Oil NJ pf(7) Sterling Pro (5). Stewart War (6) Strombersg (6).. Studebaker (5).. Submarine Boat. Sun Oil (f1).... 4T% s 101'%.102% 40 40 14% 15 92% 92% 178 180 38% 39 264% 26% 52% 49 5% 40t 14% 92% 185% 6% 109% 109% s M 9% 83 49% 46 50% 39% " | Supertor Oil. ... TT% 182 224 237% W 1674 30 1 12 34 1% 66 62% 34 92% 39 88 8% 5% 37% 22 8% 594 T 94 128 40 24% 6% 3 25% 26% | 83 5% 214 71 114 14% 42 35% 134% 192 34y 0% 41 15% 331 13% 6015 284 115% [ 129 1% 14% 634 33 Sweets of Amer. Symington A(2) Tenn Copper (1) Texas Co (3).... Texas Gulf (n).. Tex & Pacific. . . i Tex & Pac C & O Third Avenue hompson (3.6 Tide Water(113) Timken (15).... Tobac Prod (7). Tob Prod A (7). Transcont Oil. .. Underwood (4).. Un Bag& Paper. Un Carbide (5). UnoOil (2)... Un Pacific (10).. Un Pacific pf(4). “Un Tank Car (). Un Tk Car pf(7) Utd Cigar S (c2) Utd Drug (8) . .. UtdDrg 1st(3%) United Fruit (4) Utd Paperboard. USCIP&F(10) USCIPpRf (7). 7 S Distributing Hoffmn 3% Ind Alcohol. Ind Al pf(7) Realty (4).. Rubber. . Smelt (3%). S Steel (1).... US Steel pf (7). USTobpf (7).. Universal Pipe. Utl P&Lt A (e2) | vanadium (3)... { Va-Caro Chem. . | Va-CarCh 6% pf Va-Car Ch pf(7) Vivadou (3).... { Viva pt new (7). wWabash........ Wabash pf A(5). Waldorf (1%).. Ward Baking B. ‘Ward Bak pf (7) Warner Bros. Warren Bros Pells-Fargo. . .. West Maryland. West Md 2d pf.. West Pacific. . .. West Pac pf (6). West Union (8) . Westhse A B (7) Westinghse (4). Weston Elec. ... Wheel & L Erie. vheel & L E pf . White Eagle (2) White Mot (4).. White SM pf(4). wickwire ctfs. . Willys-Overland Wilson & Co. ... Wilson A (new) . Woolwth FW (5 S s s s lus S U U U U U U u U 103% 41% 4% 20% 25% 146% 130 131% 564 58% % 21 10 20% 161% 27% 52 28l 52% | 27% 52 284 5214 32 84's Market. ‘Worthtn B (6) . . Wrig Wm (14) .. Yellow Tr (75¢). Hourly Sales on 11am. 506,300 12 n..1,006,100 1 p.m. 1.387.100 2 p.m.1,892,200 Dividend rates as given in the above table fre She Anaudy a0, DY Tear dod-r“(’t&“: nmtlrlfid!‘lhfldg Xtra or si ly stock. 1Partly extra. able g pEmen ok, (e etk B “Il‘-—“!lfl regul 3 "2 bl*’huq 10% i EL R S eBlus 358" dharg tn nfi“."‘-#fi:fi“‘ L] iercised in selling newer firms 2ifore the storm. 2| Fifth Federal Reserve district, Are Practically Unchanged. and the bond market closed with a sale of Potomac Electric Consolidated b8 at 90%. n Bank Greatly Improved. Extensive changes and improve- ments are just being completed in the Lincoln National Bank, on .Seventh street, .the renovations and innova- tions being so marked that even the oldest- depositors wonder if they have entered the right bank. Several coats of colonial yellow paint have made the exterlor look like a different build- ing, the old landmark standing out amid its venerable surroundings like a newly painted ocean liner pulling into the dock. The interior, however, has seen the greatest changes. The mezzanine has been removed entirely, and all the work done there in the past trans ferred to the spacious second floor, where there is abundant space, ex- cellent lighting and ventilation. On this same floor, accross the front, is a new room for the directors. How much this was needed is shown by the fact that the bank’'s former quar- ters were so cramped that the direc- tors for years had to meet in a build- ing across the street. It is possible that the bank may branch out still further and use the upper floors of the ‘building, such a move being under serious considera- tion. The bank still needs more cage space, although none is available, Removal of the mezzanine, however, has made the lobby far more attrac- tive as well as supplying better light and air. Scores of minor changes have been included, and the interior decorators are well along in trans- forming the appearance of the entire bank. The officials are more than pleased with the results of the general overhauling. The Lincoln Bank seems to be vy- ing with the Bank of Commerce and Savings for beauty honors. Only a block away, the second named bank has already made more changes in the | tront than Henry Ford ever contem- plated on his cars. At any rate, the two banks are giving their section of Seventh street a distinctly new air of ! prosperity. Building Association Elects. The National Permanent Buflding Association has elected the following officers and directors for the ensuing year: President, William Newland: vice president, Robert E. Buckley; sec- retary, Roland M. Brown; treasurer, rd T. Dixon; directors, Adolph ier, John Mainberg, Harry Lansdale, J. Leo Kolb, George Menke, Harry M. Packard, William Briggs and Joseph F. Zegowitz. The vice presidency and one new di- rector are the only changes in the ér- ganization. R. E. Buckley, now vice president, has been on the board of directors for the past ten years. Jo- seph Zegowitz, well known in business and fraternal circles, is the new mem:- ber of the board. The work of completely remodeling and refurnishing the interior of the banking room and offices of the asso- clation is about completed and when finished they will be among the finest and hest appointed in the city. The Board voted an extra one-half of 1 per cent dividend to depositors, making the dividend 51z per cent for this year. Early Florida Recovery Seen. “Damage to business concerns in s | Miami is quite great. but numerous establishments are open and trade in necessaries has been brisk right along,” says a credit survey of south- ern Florida just completed by a spe- cial representative sent to that lo- 4 | cality by the National Association of Credit Men, which has an active {branch in Washington. { “Interviews with numerous bank- ers. building supply men, hardware; furniture and plumbing dealers, as well as department store owners in Miami, reflect optimism for early re- covery. Up to now it is almost im- possible to check the damage to indi- vidual firms, and creditors are there- fore advised to co-operate with local banks and local credit men's associa- tions for individual reports. Calcula- tion of damage in the furniture field is exceedingly difficult, for these deal- ers were hard hit through great dam- age to their stocks. “Caution should. therefore, be ex- and i those which were slow in paying be- Similar advice ap- I plles to grocers as well as furniture dealers, as many small retail grocers are certain to fail and_the weaker Jobbers are likel¢ to suffer greatly.” More Peoples Drug Stores. Peoples Drug Stores, Inc., has ac- quired the chain of three drug stores {1n Norfolk, Va.. formerly operated by the Truitt Drug Co., thereby increas- ing the total number of ts stores to 38. Peoples will have four stores in Norfolk as a result of this acquisition, i having purchased its first store there a few weeks ago. This acquisition is in line with the company's expansion program announced at the close of last vear, when it had in operation 18 stores, all located in Washington. Since the first of the year 20 stores have been added to the chain, which is expected to add approximately $1,- 600,000 to the annual volume of sales. Four of these new stores are situated in Washington and the remainder in Virginfa, West Virginia, Maryland and southern Pennsylvania. Negotiations are reported under way for the acquisition of several ad- ditional stores, having an annual sales , | volume in excess of $1,000,000. They are all located outside of Washington. Earnings during the first half of 1926 amounted to $226,474, equivalent after payment of preferred dividends to $1.86 per share of common. For the same period of last year, net earn- ings were $215,749, er $1.75 per share of common. Profits for the first six months were not fully benefited by the new store acquisitions, since they were acquired in the latter part of the period, and the company received only such earnings as accrued from the time of acquisition. It is estimated that earnings for the full year will be in e‘)‘(csss of $4 per share of common stock. . Bank Dividend; Other Notes. The directors of the National Metropolitan Bank have declared the regular semi-annual dividend pay- able on October 15. Books for the transfer of stock were closed today jand will remain closed until and including October 14. Robert N. Harper, president of the District National Bank, was among the Washingtonians who journeyed to Philadelphia today to attend the exposition. Garrett Pendelton, formerly in the savings department of the Riggs Na- tional Bank, has been made an assist- ant national bank examiner in the his territory being in North and South Carolina. After leaving Riggs he was in_a bank in Miami for some time. He is a Washington man and his friends will be pleased to hear of his_appointment. ‘The $10,000,000 general mortzage gold bonds of the Cleveland Electric Tluminating Co. are reported over- subscribed. The branch banking jssue has so absorbed the attention of the hank- ers attending thé national convention that a special evening session to Gis- has- been - cuss l.hoqu-l? [omsav o BONDSmozxeeeaws] | FIREIGN BONDLIST Raceived by Private Wire Disect to The Star Office. Sales. High. Low. Close. 5 98 UNITED STATES. (Sales are in $1.000.) Sales. High. Low. 72 100 16 100 12 58 10126 10124 Lib2d 4%s. 94 10019 100 16 Lib3d 4%¢s. 109 1013 1012 Lib 4th 4%s 166 1024 102 US3%s... 255 10117 10116 US4s1944. 126 10327 10822 US4y%sb2. 17 10725 107.22 FOREIGN. Sales. High. Low. Close. 2 92 92 Lib 3 . Lib1st4y4s 10725 Argentine 5s. Argentine 6s Argentine 6s Argentine Argentine 6s B. ... Argentine 7s. Australian s Austria?s........ 4 Bank of Chile 6%s. 10 Bank of Japan 6s.. 12 Belgium §s Belgium 6 Belgium 7s. Belgium 7%s. Belgium 8s. .. Bolivia 8s. Bordeaux 6s. Brazil 6%s. Brazil 7s. Brazil 8s Canada 5s 1931. Canada 5s 1952.... Canada 5%s 1929.. Chile 7s 1943...... Chile 8s 1941...... Chile 8s 1946. . . Chinese Gov Ry bs. Christiania 6s. Con Pow Japan 7s. Copenhagen 5%s. . Czecho 7%s rets. Czecho 85 1951. ... Czecho 8s 1952 ct. . Danish Munic 8s A. Danish Munic 8s B. Dutch East I 65 47. Finland s f és 45 Finland 7s........ Framerican 7%s. French 7s. 23 Octb9 29 A.... 6 7 [ Pom CORBRNS DA a1 ERTY - P German 7s. .. Ger Agr Bank 7s. Ger Gen Elec 7s... Holland-Amer 6s. . Hungary T%s. Ttaly 7s. Japanese 4s. Japanese 6%s Lyon 6s. Marseille 6s Mexico 4s 04 asntd. Mexico 4s 10 asntd. Mexico 5sassente: Netherlands 6s 72. Nord 6%s. . Norway 5%s. Norway 6s 1943 Norway 6s 1944 Norway 6s 1952 Orfent Dev deb 6: Paris-Ly-Med 8s Paris-Ly-Med 7s. . Paris Orleans 7s. Peru 71s. Peru as. Poland 6s 40 Poland 8s. .. Queensland 6s Queensland 7s Prague 7%s Rhinelbe Un 7s. .. .1 Rio de Jan 8s 1946. Rlo de Jan 8547... Rio Gr Do Sul 8s... Sao Paulo City 8s Sao Paulo 8s 1936 Sao Paulo 1950. Saxon (PW) 7s. Seine 78 42... Serbs Crot Slo 8s. . Soissons 6s.... weden 514s ct. Sweden 65 Swiss 5155 1946. Swiss Confed 8s Toho Elec Fow 18 Tokio 5s. . Utd Kingm 5% MISCELLANEOUS. Ajax Rubber 8s. 3 103% Am Agri Chem 7 Am Cotton Oil 5s. . Am Smit & R 1st 53 Am Sugarref6s... 1 AmT&Tecl trds. AmT&Tcltrbs AmT & Tsfbs... AmT & T deb 5%s. Am Water Wks 5s. Am Writing Pap 6s Anaconda 1st 6s... b Anaconda cv db 7s Andes Cop Ts rets. Armour&Co 4%srf Armour Del 5%s. . Atlantic Refins.. Barnsdall 6s ctfs. .. Bell Tell Pa 5s B.. Rell Tell Pa 58 C... Beth Steel pm 5s. . Beth Steel r£6s. ... Beth Steel 5148 53. Beth Steel 6s...... Brier H St 1st 5%s. Bkiyn Ed gen 5s Bklyn Unfon 5% Bush T Bldg 58 60. Cen Leath 6s 45 cfs Chile Copper 6s 32. Commonwlth P Con Coal Md 1st' Con Gas N Y 56%s. Consumers Pow 5s. Cuba Cane cv 78, Cuba Cane cv 88 Cuban Am Sug 8 Det Edison 5s 40. Det Edison ref 6s Dodge w i 68. . Donner Steel 7s. Dugquesne Light &; Est Cuba Sug T%s. Empire G & F T%s. Fisk Rubber 8s. Goodrich 6%s. Goodyear 85 1931.. Goodyear 8s1941. . o o o = PRS- ® a%a 1ilinois Bell 1st 5. Tilinots Steel 4%s. . Indiana Steel 53 Int Mer Marine 1Int Paper 5 47.... Int Paper 3s.....c IntT&T5%S. ... Kan CP&L 5s A 52. Kan G & Bl 6s52.. Kelly-Spring 8s. .. Lackawa S 55 50. Laclede G 5%s 52. - Liggett & Myers §s Liggett & Myers s Louisv G & E 55 52. Manati Sug st 7%s. Midvale Steel 5s. Montana Pow 58 Mor’s & Co 15t 4%s N Y Edison bs ¢ N Y Edison 6%s NYGELH&P N Y GELH&P 58, N Y Tel 4%s. . . N Y Tel6s49.... North Am Ed 6s... North Am Ed 6%s. Nor States Pow bs. Pac Gas & E1B PacT&T1st5 Pac T & T 5852, Pan-Amer Pete 6s. 12 Pan-Amer Pete 7s. Phila Co514838. .. Phila Corf6sA. .. Public Service 6s.. 1 Pub Serv Elee 6 Punta Alegre 7s. Remingtn Arms 6s. & Sinclair O11 68 Sinclair Oil 6%s Sinclair Of1 7 Sin Crude Oil 6s. Sin Pipe Lne 5! So Por Rico Sug 7s. Southwest Bell 5s. o - - HOIN® RANRACRNNDPNIND NHNRRDO I E O RO NS - ® 2 3 I Sug Est Orlent 7s Tenn Elec Pow 6 Toledo Edn 1st.7s. United Drug 6s USRubistrt U S Steel st bs. Utah Pow & Lt §s, ., FINANCIAL. Vertientes Sug 7 2 84% Westinghouse 7s. . ‘Wilson & Co 1st 6s. Winchester A 7%s. 1 104% Youngstn S& T 6s. 32 104 RAILROAD. .25 98 98 844% 100% 111 100 % 104% 98% 1049 103% 90% 90 924 81y 90% 964 98 97% % 102'4 OPLEWYV ds.. B& O SwDIv 5s cfs Bklyn Manhat 6s. . Buff R & Pitt 4'%s. Can Nat 4145 30... Canad North 6%s. . Canad North 7s. Canad Pac deb 4s. . Cent of Ga 51s. Centof Ga6s. ..... Cent Pac 1st 5s 90.. Ches & O cv 4%s Ches & O gn 4% Chi& Alt 314s ctfs. Chi B & Q gn 4s 53. Chi B& Q ist rf 5s. CB& Q-Tll div 4s.. Chi&E1gnbs.... Chi Great West 4s. CM & PugetS 4s.. C M&St P 4s 25 efs. CM&StPdbds. .. CM&SPevid 15 s32efs CM&StPgndts. CM&StPrf4ks. CM&StP r 43¢5 cf14 CM&StPevss... Chi & NW gen ds. Chi&NW 4% s 1987. Chi& NW 6%s Chi Rys 5s. . . 8 Chi RI& Pgnds.. ChiR1&Prf4s.. 31 ChiTH&SESs. . Chi Union Sta 5s 14 CCC&StL 418 CCC&StLS5s..... CCC&StLrf6sA. Clev Term 5s. Cuba RR 7! Cuba N R 6s 66 Del & Hud cv 5s 35.136 Den & Rio G cn 4s. 31 D& Rio G imp 5s. . D Rio G West 5: Det United 41s. .. Erle 1st cons 4s. . . Erfe gen 4s. Erie conv 4s A Erte conv 4s B Erfe conv 4s D Erie conv ext 7s Erfe & Jersey 6s. . Erie Genessee R 65, FlaECG6s74... Gt Nor 43576 D.. Great North 5s.... Great North 51gs. . Gr Nor gen 7s Green B& W db B Havana ERL&P 50 Hud & Man ref 5s. Hud & Man aj 5s. INCen4s53..... 111 Central ref 4s. . 111 Central 5%s. .. 111-C-C StL&NO 5s Int Rap Tran 5s... 12 Int Rap Tr 6s stpd.116 Int Rap Tran7s... Int & G Nor 1st 6s. Int & G Norad 6 Int Rys C A s 72. Int Rep C Am 65 41. Towa Cent rf 4s. ... Kansas City S 5s. . Kan City Term 4s. Lake Shore 48 31. . Lehlgh Val cn ds.. Lous & N uni 4s. .. Louis & N 55 B. Louis & Nash 7s Man Ry 1st 90, Market St 7s 40. M EIRy&LS5s.. M&StListre4s. BremSo~hanme @ | MStP&SSM35s38gtd MK&TprinssA. MK&T6sC....., Mo Pacific gen 4s.. Mo Pac 6s49D.... Mo Pac 6555 E. ... Nassau E Ry 4s 57. New Or Term 4s. .. NOTex & M55 B. NOT&Moks.... N Y Cent 4s 98 N Y Centdebds. .. NYCrfimdis13 NYCentribs.... Y Cent deb 6s... NYChi&StL 51 sA. NYChi&StL 5%sB. NYC&StL6sA. New Hav deb 4s 57. New Havencd 6s.. N Y Rys 6s 65. . NYRys6sA65... Nor & S gen 5s 54.. Norfolk & W cn 4s. Norfolk & Wcv 6s. Northern Pac 3s Northern Pac 4s Nor Pac 4%s 2047. Northern Pacr{ 6s Ore Short Lirfs 4s. Ore Wash 1st4s... Pennsyl con 414s.. Pennsyl gen 4%s. . Pennsyl gen 5s. Pennsyl 5s 64. .2 Pennsyl 6%s Pennsyl gold 7s. .. Peoria & E inc 4s PCC & St L 5s BT5 Port RL &P 55 42 PorRL&P 6s47. Rio G W 1st 4s Rio G West ci 4s St L IM&S 4s 29 StL&SFoplds Seab A Liref 4s. Seab A L adj 5s... Seab A L con 6s. Seab All Fla 6s Sou Pac 4s29..... Sou Pacific ref 4s. . Southern Ry gen 4s Sou Ry con 5s 94... 2 Sou Ry 6s56.. .1 .. Southern Ry 618 Third Ave ref 4s Third Avead] &s Tol St L& W 4s... Tol Tr L&P 5%s 30 Union Pac 1st 4s... Union Pac 1st rf 4s Union Pac 1st rf 58 Virginia Ry 1st §s. VaRy &P 58 Wabash 1st 53 ‘Wabash 2d 5s. Wabash 5%s875.... 17 West Maryland 4s. 10 Western Pacific 5s. 3 Whel& LErf4%s 5 90 102% 106 9% 100'% 96 9% 98% 103% 117% 113% 894 99 20 WILL VOTE ON ISSUE. NEW YORK, October 6 (#).—Stock- holders of International Paper Co. will vote October 28 on a proposed issue of $25,000,000 of 6 per cent debentures, convertible into 7 per cent preferred, par for par. version within In the ‘event of con- two years, holders will have the privilege of subscribing to one share of ,common at $50 for each,$1,000, bond.. A proposed increase in authorized . 7 per cent perferred from 750,000 to 1,000,000 shares and an increase in authorized common of the OB Gaous ale Wil Be ecied ugon. ' eanuk SCORES ADVANGES Success of $10,000,000 Hamburg Issue Is Felt in the German Group. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, October 6.—The out standing feature of the day in bonds was the success of the new.$10.000,000 state of Hamburg loan. Offered at+ 913 to vield over 6.75 per cent, the lowest basis yet on any new German munieipal, the bonds went to a pre- mium in the outside market as soon as trading was begun. The effect upog the older listed German bonds was im- mediate. A buying movement which carried many of them to new highs overshadowed all other developments on the exchange. City of Berlin 6123 were rushed up to 97 from 96. which was the previous best price recorded vesterday. Bavaria 613s, Dresden 7s and Cologne 6las, all made striking gains. The rest of the foreign list was im fluenced favorably by the strength in the German group. Some of the French railway bonds were in vigor- ous demand, among them Paris, Lyon and Mediterranean which crossed 90, against the preceding close of 89'4. The same road s improved to a le degree. French government obliga- tions did better and so did the French Citigs 6s. Poland 6s, on the other hand, yielded. Domestic railway bonds of the cir- culative class were frregular. The favorites seemed to be Erie convert ible B. 4s, which were bought on the conversion privilege. Other Erie bonds were heiped slightly. but were not so active. St. Louis-San Francisco income 6s were just steady. notwithstanding the continuously improving earning out look. Chicago and Eastern Illinois 5s Attracted attention by their firmness ‘Gross revenues and operating income for this road for August were the largest since 1921, while the bonds, selling on & 6.85 per cent basis, give i larger vield than almost other issue in their group. Delaware & Hudson convertible 5s were up point at one time and Norfolk-South- , ern 5s gained half a point. High-grade investment issues were dull. Changes were confined to small fractions and about equally divided be tween advances and declines. There was more than the usual activity in New York Central and in Southern Pacific refunding 4s. Local tractions were mostly heavy. adjustments and New incomes were under Eastern Cuba Suger 7lgs were the best supported among the sugars, WHEAT GOES DOWN IN LATE DEALINGS Support and Grain Prices Break. By the Associated Press CHICAGO. October (3 selling which developed toward the last today in the wheat market found support lacking. Despite export pui chages of North American wheat to- day estimated at 1,000,000 bushels the market hroke sharply when sell- Weather condi the movement of had a bearish and so, too, did announcement 000 bushels increase of the ailable supply total, orn market, vesterday sellers were among the leading buy ers today, owing more or less to in creasing Illinois crop damage reports. The chief deterrent for would-be pur- chasers of future deliveries of corn seamed Yo be the fact that December and May Ceorn is at an unusual dif- ference above the current value of ol corn. VIRGINIA APPLES EXPORTED. LURAY, Vit October 6 (Special).- Leading orch < in this section of the valley report good prices for apples shipped to English and other European markets. The prices re. ceived for graded apples are reported at $3.30 to $4 per barrel. Many of the inferior quality of apples are go- ing to waste. Among orchardists in_this county are M. E. Roudabush H. Ford, F.” W. Weaver, W. T. Mauck, J. S. Price and others. WILL LAY HUGE CABLE. SAN _FRANCIS®0, October 6 (Spe- cal).—The Great Western Power Co. will lay a 41.000-foot cable across San Francisco Bay this month to v power generated at the Feather River Hydro-Electric Plant to this city. The cable is claimed to be the world's longest 11,000-volt submarine cable. Steel Corporation Immense. some estimate of the size of ths * United States Steel (‘orporation’s oper. ations may be obtained from a sum- mary of its activities. It is sald to operate 145 mills and warehouses, to own and operate nearly 4,000 miles of railroad and to have done a gross business of more than 23 bfllions of dollars since its incorporation in 1901. DRY GOODS QUIET. NEW YORK, October 6 (Special).-- The market for standard cotton print cloths was unchanged and quiet to day, with 64 x 60s at 7 eents and 68 x 728 at 8 cents. Raw silk was quiet and recessions of about 5 cent 2 pound were recorded in the prices of the leading grades. NASH EABNII&Gé GROW. NEW YORK, October 6 (). Net earnings of Nash Motors for the quar ter ended August 31 after taxes and charges rose to §4,643.658 from 840,268 in the same period of 1925 . SKELLY OIL PROFIT. NEW YORK, October § () —Profiy of Skelly Oil Co. in August after all charges, but before Federal taxes, was a record for any month, reach- ing $644,257, in contrast to $77,189 in August last year. BANK CLEARINGS. NEW YORK, October 6 (Speciai)— New York bank clearings, $953,900,- 000; New York bank balances, $113,- 000,000; New York Federal Reserv Bank credits, $89,000,000. SILVER QUOTATIONS. EW TORK, October 6 (#).—Bar! , 56%; Mexican dollars, 423, CRUDE OIL ADVANCED. FINDLAY, Ohio, October.§ (#).— ‘The Ohio Oil Co. has advanced the price of Sunburst Montana crude o to $1.35 a barrel, an increase of 19 the leading * ¢ - Persistent Selling Fails to Pind