Evening Star Newspaper, October 19, 1926, Page 30

N STOCK MARKET e d FINANCIAL THE EVENING STAR, WASHINGTON, D. C, TUESDAY, OCTOBER- 19, 1926. FINANCIAL. ELLING RESUMED Change From Advance to De- cline in Afternoon Is Very Rapid. BY STUART P. WEST. Spacial Dispatch to The Star. NEW YORK, October 19.—After a further advance lasting through the first three hours of today’s stock mar- ket session, selling broke out again with considerable urgency. Traders had not regarded yester- day’s rise as anything more than a temporary rally. They were all the more ready to take the selling side when the rally carried further this morning. The change {rom advance to decline in the afternoon avas very rapid. Prices came down much more easily than they had gone up and the volume of trading on the decline was largely in- creased. . The motor shares, steels, and industrial specialties arly weak spots toward the end. Further improvement on the Stock Exchange today followed the publica- tion after the close of business Mon- day of the Federal Reserve figures on prokerage loans. These were for the week ended October 13, and, as expect- ed, they began to show more fully the effects o fthe heavy liquidation which went on during the first fortnight of October. The decrease amounted to nearly $82,000,000. This, of course, did not affect the numerous outside features which had made the business outlook appear more doubtful than it was two or three months ago. But it dld influ- ence further short covering and some fresh speculative buying on the idea that stocks were in stronger hands. General Motors quickly ran up over @ point. United States Steel took its proper place in the recovery. There was no rush to buy and no_ striking advances. It was simply that the market exhibited a perceptibly strong- er tendency. Dupont went as usual with General Motors. Mack Trucks and Nash Motor were higher. The automobile stocks appeared to have zot over, for the time being at least, the uneasiness regarding price cuts. Timken Roller Bearing continued to | respond to buving based upon the pos ll:&lit‘s of developing the new busi- nes$ with the railroads. The stock sold at a new high for all time. Independent Oil and Gas stood out among the oils with a sharp rise on active trading. The stock pays only 1.00 in dividends and would be plenty hizh enough above 27 unless there was a prospect of a larger distribu- tion. Other oil shares did compara- tively little. Atlantic Refining fell back a fair part of the ground lost during the week. General Asphalt was strong, while Texas Co., Pan- American B and Standard of Cali- fornia gained fractionally. ‘There was no news from the oll trade, but the market seemed to have discount- ed, for the present at any rate, the effect of the recent price reductions. Atchison was the strongest of the rails, running up over 2 points. Union Pacific, Delaware, Lackawanna and Western, and Norfolk and Western were all higher, but Chesapeake and Ohio ran into a lot of realizing from speculative holders, who did not like it because there had been no con- jirmation of Wall Street reports of an X per cent dividend guarantee plus the dividend in the Nickel Plate stock. Markets at a Glance YORK, (#).—St States Steel breaks under low. Bonds steady: rail Foreign exchanges firm; and Japanese yen at Cotton b NEW United recent sues active. italian lira k stock arket. Sugi tradc buying. Coffee strong; firmer i jan market. CHICAG Wheat firm; urgent for-| eign inquiry. Corn highe) 3 with wheat. Cattle weak. Hngsl easier. e | TREND IN MACHINERY i BUSINESS IS UPWARD! Good Replacement Orders Feature | in Market—Inquiry Pointing | to Continued Active Trade. Special Dispatch to The Sta October 19 —With the | two-thirds gone the in machinery and ma- chine Vids fair to equal that of | Septembel "w ports. Orders are ttered over wide territory and among many industries. | The demand chiefly for replace- | ments and the trend of the sales curve | is upward | The Middle West continues its ac- tivity, with automobile manufacturers the leading buyers. A larger volume of saies and inquiries In Cincinnati has renewed optinusm. Chicago admits slight recession of sales, but inquiries point to renewed acti Slight ex- pansion in business is veported in the | Indianapolis market. 3 Dealers in the New York district re. port good replacement business in v rious lines of industry. In New Eng- Jand operators find that new business depends largely on the ability to make wuick delivery. The outlook in the Philadelphia niarket continues favor- Canada reports sales of mac tools zoud and inguiries from new con. struction enterpy encouraging. The Septexaber index number of the stional Machine Tool Builders' As- sociation veveals that business in that month was the largest since October, The Scptember figure for all was 1929, as against 164.2 CALL MONEY EASIER. 1 (P)—Call closing prime m RI};BEk DECLINES. EW YORK. October 19 (Special). | tubber _drc 421, cents a pound to 41 cents last month and ar. , g i NEW YORK MARKETS. NEW YORK. October 19 (#) frregular; Spring patents, soft Winter straight : ‘Winter straight No. 2 Western, 1.0891 f. o. b. York, and 1.073 c. i. f. export. Lard easy; Middle West, 14.40a14.50. futures opened tirm: domestic, Decem- ber, 1.4 Other articles unchanged. % 53 TFEDERAL LAND BANK BONDS. | 1Quoted by Alex Brown & Co.) “ Cont Can (16).. Consol Distribut Consol Gas (5).. Consol Textlle. . Cont Bakg A (8) Cont Baking B.. Cont Bak pf (8). 130% 130% 10% 10% 45% 46% 98 98% 7 71 Cont Insur (6).. Cont Mot (80¢).. Corn Prod(12%) Crown Pa 1st(7) Cructble Stl (5). Cuba Cane Sugat 9% 9% | Cuba Cane Su pf 41% 41% Cuba Co (4).... 30% 30% Cuban-Am S (1). 24% 24%_ Cudahay Pkg(8) 101 101 Davison Chém.. 26% 264 Del & Hud (8).. 170% 171 Del L & Wn (17) 142 142 DRG Wstpf... 39% 39 Detroit Ed (8).. 138% 138% Detroit Edrts.. 3% 3% Dodge Bros CLA 22% 23% | Dodge pf (7).... 81% 81% | Dome Mines (2). 8 8% Douglas Pec (2). 38 38 Dupont (14). 323% 326 Dupont deb (6). 10' Duquesne pf (7) 115% 115% | astman (13)... 116% 116% Eaton Axle (2).. 24% 24% Eisenlohr & Bro. 11% 11% Electric Boat. 9% 9 Elec Power & Lt 16 16% Elec Refrig (c2) 48% 48% Elec Sto Bat(16) 84 84% End-John (5)... 66% 664 | Endicott pf (7). 119 119 Fngnrs PS p£(7) 3% 934 ErieRR.... 38 38k Erie1stpf...... 481 48% Erie 2d pf. 461 46% Erie Stm Shovel. 23 28l ajrbanks (3)... 42% 48% :lmouu!’l (8). 114% 114% { | Famous pf (8).. 119% 119% FedLight(*1.40) 314 311 Fed Min pf (T).. T0% 70% Fed Mot T(f80¢) 25 25% Fid Phoenix (6). 188 1213‘12“a First Nat S(1 %) 29% . 15% 3 80 |FoxFilmA (4). 69 70 | Freeport-Texas. 28 284 | Gabriel Snu (15) 30% 30% Gardner Motor.. 6 6 Gen Am Tnk (3) 43 43 Gen Asphalt.... T6% 75% . High. Low. Abitibi Pow (4). 89 89 89 Adv Rumley. 18% 184 17% Ad Rumley 7f(3. 55% B5% 54 Ahumada (11).. 7 T 17 Afr Reductn (16) 130 130% 127 Afax Rubber.... 7% % T4 Albny Pap pf(7) 96%,. 96% 96% Allied Chem (4). 128% 129% 124 AllledCm pf (7). 120% 120% 120% Allls Chalm (6). 87 87 86 Amal Lthr p£(7) 106% 106% 106% Amerada (2).... 28% 28% 28 Am Agricul Chm 12% 12% 11% Am AgriChpt.. 43 44 41% Am Bank N Am Bosch. 18% 19% 18% Am Brake 8h(6) 126% 126% 126 Am Br Bov EI(2 38% 39% 36% Am Can (2). 481 49% 46% Am Can pf (7)., 128% 124 128% Am Car&Fdy (6) 97 97 9 Am Chaln A (2). 24% 24% 24% Am Drug 8% 8% 8% Am Express (6). 120 120 120 Am & For Pow.. 16% 16% 16% Am & FoPpf(7) 86% 86% 86 Am Hide& Lea. 7% T% - T% [AmHoP (2.40). 24% 24% 24% Am Jce (110)... 122 122 122 | Am Internatl 361 364 36% |AmLaFr(1)... 12% 12% 12% Am Linseed. 27 Am Linsd pf 67% Am Locomot (8) 101% 10215 98% Am Loco pf (7). 118% 119 118% Am Mach & Fy.. 68% 68% 684 Am Metals (4).. 474 47T's 46% Am Po&Lt (g1). 624 63% 61% Am Radlator (4) 112} 116% 110 Am Ry Exp (6). 80 80 80 AmSafety R (3) 66 66 611 Am Ship & Com. 7 7 7 Am Smelting (8) 130% 130% 126 AmS&Rpf () 120 120 120 Am Snuff (12).. 126 125 125 Am Stl Fdys (3) . 42% 42% 42 Am St1 Fy pf(7) 111% 111% 111% Am Sugar (5)... T4% T4% 73 Am Sugar pf (¥) 102% 102% 102% Am Sumatra.... 35 35 85 Am Tel & Tel(8) 145% 145% 145% Am Tobacco (8). 120% 120% 119 Am Tobac B (8). 119 119 117% Am Tobac pf (6) 110% 110% 110% Am Wa Wool20 bl% 51% 50% Am Woolen..... 28% 284 27 | Am Wool pf (7). 79% 79% T9% |Am Zine.......n 6% 6% 6% |Am Zincpf..... 31 31 31 Anaconda (3) 4T% AT 46% ArmourDel pf (T, 93% 93% 93% | Armour of TII(A} 15 15 = 14% | Armour of TII(B) 8% 8% 8% Artloom (3).... 50 50 50 Asso Dry G(2%) 40% 40% 39% Atchison (7).... 147% 148% 1464 Atchison pf (5). 99% 99% 99% Atl Birm & At... 1% 1% 1 At] C Line(19%) 195 195% 191 AtIGuif &WI.. 304 30% 204 Atlantic Refing. 101 101% 99% | Atlas Powdr (4) 59 59 59 Atlas Tack 8 8% 8% Austin-Nichols. 9 9 9 Austin Nic pf(7) 64% 64% 64% Auto Knitter... % 5 % Baldwin L (T).. 117% 117% 114 Balto & Ohio (6) 101% 101% 100% Balto & Oh pf(4) 71% 71} T1% Bang & Ar (3).. 40% 401 40% Barnsdall A (2). 26% 26% 206% Beech-Nut (13). 54% 4% 04 Belding Bros(3). 29% 29% 29% Bethlohem Steel. 45% 45% 43% Bloomingdale... 31% 31% 30 Briges Mfg (3). 26% 26% 25 British Empire. % % % BkinEdison (8). 151% 154% 151% Blkn-Mn Tr (4). 58 58 57% Bk-Man T pf(6). 83 83 83 Bkin Un G(t11). 92% 93 92 Brunswick Balk. 33 83 32% Brunswick Ter.. 13% 13% 13% Buff Roch&P(4) 81% 81% 81 Burns Bro (10)..134 135% 134 Burns BrB (2). 33 3 33 Burroughs (14). 108% 108% 106 Bush Terminal.. 24 24 24 Butte Copper&Z. 5 b v Butte&Super(2). 12 12% 11% Butterick....... 5T% bT% B6% Byer & Co. 35% 86% 85% By-Product: 70% 70% 67 Callf Packg(4).. 67 67% 67 Calif Petrol(2).. 30% 30% 30 Callahan Zine... 1% 1% 1% Calumet & Ar(6) €6 664 65% Calumet&H(1%) 16% 16% 16% Can Dry (c2%). 36 36 334 Can Pacific (10). 1624 163 162% Case Threshing. 165% 169 160 Case Thr pf (7). 111% 112 111% Central Alloy(2) 29% 30 20% Cent Leather... 8 8% 8 Cent Leather pf. 53% 54% 52 Cerro De P (4).. 63% 63% 62 Certain-Teed(4) 41% 41% 41% Chand-Cleve.... 12% 12% 12% Chand-Cle pf(4) 29 29 28% Ches & Oh (112). 1724 172% 166% Chi & East Il pf 43% 43% 43% Chi&Altonpf.. T 1% 7% ChiGreat West. 8% 9% 8% Chi Gr West pf.. 247 25% 23% ChiMII&StF.. 9% 9% 9% ChiMII&StEp1 17% 17% 17% CMIl&StPeotfs &% 84 8% CMN&StP pfets 161 17% 161 Chi& Nwn (4)-. 74% 74% 73% ChiRI&Pac... 3% 63% 61 Chile Cop (23%). 324 32% 32 Chrysler Corp(3. 34%s 354 3% ! Chrysler pfA(8) 100% 100% 100 Coca-Cola (7)... 146% 147 . 143% | Collins & Atk(4). 57 57% 56% Col Fuel & Iron. 42 42% 37% Colo Southern. . 92% 91 Col Gas & El (5) 83 831 82% Col GRElcfs (5) 82% °82% 821 0l G & Ept (1) 114% 114% 114% Col Carbon (4).. 62% 62% 62% Com Cred (2) 23 23% 22% ComCrpfB(2) 24 24 24 Com Inv (3.60).. 6% b6Y 564 Com In Tr pf 6% 90% 90% 90% Com Solv B (8). 181 182 176% Congoleum-N.. 21% 21% 20% Congress Cgr (3] 46 46 46 CnllgCIKlrs (1).. 69% 71’4'- 69 Close. 89 | Gen Asph t (5). 1% 54 | Gen Cigars (4) %! Gen Gas A(e1%) % | Gen Motors (7). Gen Mot pf(7).. Gen Outdr Ad(2) Gen Outdr A (4) 1 Gen Ry Sig (16). Gen Ry S pf (6). Gen Refrac (3). Gimbel Bro; Glidden (2) Gold Dust. Goodrich Ri Goodyear pf (7). Goodyr pr pf(8). Gothm S H (2%) Gould Cou (2).. Granby Consol. . Grt North pf (5) Gt Nor Ore (1%) Grt Wstn Su (8) Green Canan. Gulf Mo & No: Gu M & N pf (6 Hartman B k4 40 Homestake (17). Houston Ofl... . Howe Sound (4) . HudsonMan (2% Hudson Mo(3%) Hup Mot (1.40). Tlltnots Cen (7). Indep Oil (1) Indian Mot (1 Indian Refining. IndianRefg ctfs. Ingersoll R (t4) Tnland St (23). Inspiration (2).. Interbor Rap Tr. Intgont! Rub(1). Internat Agri... In Ag C pr pf(7) Int Bus Ma (3) Int Cement (4).. 4 | Int Cement pf(7} Int Com Eng (2) Tnt Harvstr(6).. Inter Har pf (7) IntMtch pf(3.20) Int Paper (2) Int Paper pt Int Ry Cent Am. Int Tel & Tel (6) Jewel Tea...... Jones Bros Tea. Jordan Motor. Kan City South. Kansas & Gulf. . Kayser J (3) Kelly-Spring. .. Kennecott (4).. Keystone T & R Kraft Cheese Kresge SS(1.20). Laclede Gas (8). Lago Oll & Tran, Lambert (3%).. Lehigh Val(3%) Leh&Fink stf(3) Lig& M B (t4). Lig & Mot (7)., Liq Carb (3.60). Loew's Inc (2).. Lof Long Bell A (4). Loose Wiles. ... Lorillard (§2)... Loulsfana OIl. .. La Ol pf (6%).. LouisGasA(1.75) Lou&Nash (16%) Ludlum Steel (2} McCrory B 11.60. McIntyre P (1). Mack Trucks (6) MackTr 2 pf(7) Macy HR & Co. Man El m g (D5) Maracaibo Oil. . | Market St prior. | Marland Of1 (4). Marland Ofl rts. . Mathieson (4).. May Dept St (5) Maytag Co (2).. Mexican Seabd Miami Cop (1). Mid-Continent. Midd'e States. .. Mid States Oil ct Miller Rub (2).. Mis Kan & Tex MoK & T pf (6). Missour! Paciflc. Missouri Pac pf. Montana Pow (5) Montgmry W (4) Moon Mot (1%). Mors & Esx(3%) Mothr Lode(75¢) Mo Picture(1%) Motor Met(3.60) Motor Whi (2). Mullins Body Murray Body ¢ Nash Mot (13).. Natl Acme Nat Biscult t4% Nat Biscu pf (7) Nat Cash Reg(3) Nat Dalry (3)... Nat Dpt Stores. . Nat Distlllers. .. Nat Enamel & S. Nat Lead (8)... Nat Pw&Lt(80¢) 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 Canner pf(7) NY Central (7).. NY Chi&StL(11) NY On & Wes! NY Rys 2d stpd. NY Rys part cfs Norfk & Wn (13) Norf & W pf (4) North A (B3.40). NorAm Ed pf(7) North Pac (5)... Norwalk Ti Nunnally ( 0il Well Sup (2) 45% 68% | Onyx Hos pt(7). Opnhm, Cel (4). Orpheum Cir(2). Otis Elevator (8] Oti= Klev pf (6). Outlet Co (14) Outlet Co pf (7). | Owens Bot (14, Pacific Coast Pacific Gas (8) Pac Ofl Stubs. .. Packard (12.90). Paige Mot(1.30). Pan-Am (6). Pan-Am B (6). Pan.AmWnB(2). 116% | Panhandle. 241, | Pathe Ex (c3). 11% | Penick & Ford. 915 | Pennsy RR (3). 16 | Penn-Seab Steel. 45% | Peoples Gas (8). 827 | Peoples Gas rts. 66% | Peoria & East. .. 1 119 | Pere Marq (18). 14 | Pera M prior (5 o PRila&RCA&I.. 47% | Perce Oil. 464 | Philip Morri 223 | Phillips Pet (3). { Plerce-Arrow.... 424 | pierce-Ar pf (8). 111% | pjerce Perolm. 119% | pit¢s Coal pf 314 | postum (5). 0% | pressed Stl Car. 24% | prod-& Refiner 88 | pub Ser NJ ( 29% | pub 8 NI pf (7). 15% | pub § NJ pf (8). 78 | pullman Co (8). 45% | punta Aleg Sug. 7% | Pure O1l (1) . Radio Corpof A. Radlo C pf (3%) Ray Copper(25¢c) 69 26% 29% 1 Gulf States (5).. Open. High. 112 1% 42 149% 118% 33% 68 115% 37% 10% 16 123% 457 44% 6in 4315 149% 29% 14% 95 28% 128 30 72% 22% 95 104 1™ 36% 59 47 47 17% 9% 137% 21% 9 1% 29% 1% NEW YORK STOCK EXCHANGE Received by Private Wire Direct te The Star Office 36 21% 11% ™ 56% 78 93% 129 38% 19% 5% 2% 73% 114 15 40% 34% 82 132% 196 33 23% 13! 8% 162% 84 a8 96% 7 35% 12% 3815 104% 59% 29 116% 107 50 104 9% 15 [ 128% 1% 32% 13% 62 53% 1 123 2% 17 108% 9214 40% 1% 21% 48 21 108 2% 7 95% 39% 16% 93% 108% 123 178 38% 26T 634 49 15% 854 | Sloss Sheff (6). . | South Port S (6) ; | Sou Dairfes B 1 I TRADING ACTIVE, PRICES FIRM ON WASHINGTON STOCK 'CHANGE BY EDWARD C. STONE. By changes voted in the constitu- tion of the District of Columbia Bank- ers’ Association, the retiring presi- dent each Year is to become a mem- ber of the executive council, as will the Washington member of the ex- ecutive council of the American Bankers' Assoclation. The associa- tion will now have the full benefit of the experience of a man who knows all the difficulties encountered in carrying out various constructive policies, as well as successful methods in overcoming any and all obstacles in the better banking race. In taking into the council the local member of the American Bankers' Assoclation council, the District bank- ers will be kept in the closest possible touch with what the parent organiza- tion is doing and plans to do. It will mean a new co-operation with the aims of the leading bankers of the country along many lines. Francis G. Addison, jr., and Harry V. Haynes are the bankers who now become members of the local council. Wording of the amendment caused a lot of discussion which in turn de- veloped conslderable oratory. The hall fairly vibrated as the speakers made their pleas for this or that wording of the amendment. Bankers to Resume Luncheons. It was announced at the meeting late yesterday that the regular forum luncheons, which were —interrupted by the national bankers’ convention, will be resumed tomorrow at 12:45 at the Willard. The association adopted resolu- tions on the death of Detective A. B. Scrivener, praising the slain officer for his ability, courage, judgment and valuable service to the banking interests of the city. A copy of the resolution was ordered sent to Maj. Hesse. Vice President W. W. Spaid pre- Real Silw H (4). Reld Ice Cm (3). Reld TceCr pf(7) Remington Type Replogle Steel. . Rep Ir & Stl (4). Rep1&S pf (7). Rey Tobac B(5). Robt Rels & Co. . Royal D (a3.078) Safety Cable (4) St Joseph L(1).. StL & SanFr (7) Schulte (§).. Seaboard Alr L. Sears-R (n2%). Shattuck F G(2) Shell Un (1.40).. Shubert The (5) Simmons(t2.26). Simms Pet (1).. Sinclair Ofl..... Sinclair pf (8).. Skelly Of1 (2) Sou Cal Ed (2).. Sou Dairies A(4) South Pac (6) South Ry pf (5). 94% 94% | Spicer Mfg..... 21% 21% 20 20 StaGas&Elg3. 5¢ 54 534 63% StaG&EIpf(4) 55% b5% 6% Kb Std Mill (5)..... 68 68 68 68 Std Oil Cal (2).. 60% 61% 60 60 StdOfI NJ (1).. 41% 41% 41% 41% Std OI NJ p£(7). 116% 116% 116% 116% Std PlateGlass. bk 5% 5% bl Sterling Pro (5). 88% 8% 88% 881 | Stewart War (8) 65 65% 63% 634 Stromberg (6).. 57% 57% bTh 57% Studebaker (5).. 51% B1% 50% 50% Submarine Boat. 1% 1% 1% 1% Superior Ofl.... 2% 2% 2% 2% Superior St1(2). 28% 23% 23% 23% Sweets of Amer. 14% .14% 14 14 Svmington...... 7 7 64 6% Symington A(2). 13% 13% 12% 12% Telautoera(60c) 11% 11% 115% 11% Tenn Copper (1) 10% 11% 10% 11% TexasCo (3).... §2 524 B5I% Bl% TexasCoct (3). B1% 562 b5l1% 6l% Texas Gulf Sul.. 42% 43 421 424 Tex & Pacific... 50% B0k 48% 48Y% Tex&PacC&O 13% 13% 12% 123 The Fair (2.40).. 28% 28 284 28% Third Avenue... 32 82 314 32 Thompson(3.60). 46% 46% 461 46% Timken (15).... 74 6% 72% 173 Tobac Prod (7). 106 107 105 105 Tob Prod A (7).. 118% 113% 113% 113% Transcont Of1 3% 8% 8% 3% Transue& Wil.. 16% 16% 15% 164 Underwood (4).. Bl 52 5l 51% Un Bag& Paper. 43% 44% 42% 423 Un Carbide (5).. 90 90% 89 89% UnOM (2)...... 55% BG4 B4 54 Un Pactfic (10).. 161% 161% 159% 159% UnPacifiepf(4). 80 80 80 80 Un Tank Car(5). 116 116 116 116 Un Tk Car pf(7) 115% .115% 115% 116% Utd Cigar S (c2) 95 96% 94 94 Utd Drng (8)... 1567 156% 154% 154% UtdDrg 1st(3%) 58% b68% B8% b58Y% United Fruit (4) 112 112 111 111 USCIP&F(10) 204% 206 192 192 USCIPDf (7). 102% 102% 102% 102% U S Distributing 49 49% 47% 474 U S Hoftmn 3% B64% b4% 53 53 USInd Alcohol. 70% 71 68% 68% USIndAlpf(7) 104 104 104 104 U S Realty (4).. 58 58% B56% 56% U S Rubber..... 53% b4 52% 521 U S Rub 1st (3). 107% 107% 107% 107% USSmelt (3%). 32% 83 32% 395 U S Steel (7).... 188% 139% 134% 135% U S Steel pf (7). 127% 127% 127% 127% UniPic1stpf(8) 95 95 95 95 Universal Plpe.. 16% 17% 16% 16% Utl PELtA (e2). 29% 20% 29% 29% Vanadium (3). 5 38 Va-Caro Chem.. 9 9% va-CarCh 6% pf 34 34 33% 331 Vivadou (3).... 30 30 30 30 abash ... 404 40% 38% 39 WabahpfA(S). T4 % T8 73% waldorf (1%).. 20% 20% 20% 20% Ward Baking B. 23% 24% 23 23 ward Bakpf (7) 90 90 980 90 Warner Bros.... 50% bB1% 43% 44 Warren Bros (4) 56% b7 B5% 5b% West PFIpf(7). 98% 984 984 984 West Maryland. 11% 11% 11% 11% West Md 2d pf.. 20 20 20 20 West Pac pf (6). 80% 80% 80% 80% West Union (8). 145 145 143% 143% Westhse A B (7) 126% 126% 124 124 Westinghse (4). 67% 67% 67 67 Weston Elec. . 16% 16% 161 16% WestonA (2)... 32 32 321, 321 Wheel & LErle. 25% 25% 24% 24y Wheel & LEDpf.. 43 43 43 = 43 White Eagle (2) 25% 26% "25% 25% White Mot (4).. 5% 05% 084 53u White Rock (12) 25% 25% 25% 251 White SM pf(4). 65 55 46% 47% Wickwirectfs o 100 13% 180 -Overlan i wilys D 10 10% 10 10% Wiison & Co. v Co pf i 63 \Q’:)l:lo:ofilh (16). 160% 160% 155%3 156% Worthn Pump... 28 28 27 27 Worthtn B (6).. B % 50% 50% 50% Wright Aero (1) 27 27 25% 25% Yellow Tr (76¢). 29% 29% 27% 28 Yel Tr&C pt(7). 102% 102% 1024 1021 Youngstown (4) 83 83% 814 81% . Hourly Sales on N. Y. Market. 11am. 473,600 12 n.. 721.800 1pm. 876.400 2 p.m.1,246.100 Dh’h‘gfind rn{’fl “I.lhfln\”lsflmiem‘l.h above u&]e or half yearly dengs ATy Seock. 1bard : Retiring Head of District Bankers’ Body to Be Placed on Executive Council Annually; It Is Decided. sided, in the absence of President Moran. The attendance at this first meeting of the year was highly sat- isfactory. Trading Broad on. Exchange. Trading was fairly active on the ‘Washington Stock Exchange today in both stocks and bonds. Capital Traction opened at 104 on a sale of 20 shares, and closed at an advance to 104%. Potomac Electric Power preferred came out at 107%, while Washington Gas Light sold at 69%. Washington Railway & Electric preferred remained firm at 89%. District National Bank stock ap- peared on the board, 12 shares, in two sales, registering 232. Mer- chants’ Transfer & Storage common again sold at 112. Mergenthaler opened at 104% and closed an eighth of a point lower. In the unlisted ldepartment 10 shares of Depart- i mental Bank sold at 714. On the bond side, Potomac Electric Power 7s sold at 106 and Washington Gas Light &s on three $500 transfers brought 101. Installment Buying Scored. At the recent bankers’ convention thére were many discussions on in- stallment buying, and several speak- ers put up caution signals against al- lowing the installment express to run too fast. While the method was criti- cized its help to business was lauded. Although speakers urged applying the brakes none wanted to abolish the system. In Washington many merchants use and encourage the ‘plan. Furniture dealers, however, are denouncing the practice so far as it relates to pur- chase of automobiles. They say many of their customers have tied them- selves up so effectually that they have to forego purchasing furniture. In this claim the local merchants are sup- ported by the Bankers' Magazine, Which states that some people who are buying new cars “haven’t more than $100 worth of good furniture in their homes,” Frederick A. Fenning, former Dis- trict Commissioner, resigned as a di- rector of the National Savings & Trust Co. at the regular meeting of the board late yesterday. It is prob- able that his successor will not be elected until the annual meeting in January. The bank’s directorate as now constituted consists of James J. Becker, Woodbury Blair, Willilam A. H. Church, Walter C. Clephane, H. Rozier Dulany, Willlam E. Edmon- ston, Franklin H. Ellis, H. Prescott Gatley, William D. Hoover, Walter B. Howe, Reginald S. Huidekoper, Victor Kauffmann, Charles Minshall, Ed- mund 1. heem, Frank Stetson, Frank W. Stone, William H. Walker and William B. Willard. ! Buying Old Paper Mark Bonds. More than 100 German states and municipalities to date have decided to solve the problem of their old { paper mark bonds by buying them up at a fixed schedule of prices for cash which their mark bonds will be re- ceived, according to the Foreign Se- curities Investor Magazine, which has compiled a list tabulating all the cash offers made to date, the names of the States or cities and the particular 1% | mark Joans affected. | In most cases, the Investor points out, the prices being paid by States and cities, for their mark loans are tablished by the revaluation act of | July 16, 1925. Personal and Other Not Bdward L. Hillyer, vice president of the Union Trust Co., and member of the board of governors of the Washington Stock Exchange, is tak- ing his vacation, part of which he is passing in West Virginia. W. W. Spaid of W. B. Hibbs & Co. leaves here tomorrow to attend a | meeting of New York Stock Exchange {members_who have their offices out- iside of Wall street. Mr. Spaid is chairman of this committee, which was organized several months ago to look after the particular problems of these wire houses. E. E. Mountjoy, Washington repr {sentative of the American Banke Assoclation, 4s author of an article in | the last American Association Journal on “Trust Work in National Banks.” | The article is highly interesting and | informative. Fitkin _Utilities, Inc., owners of Virginia Public Service Co., announce that as a result of an advertising {survey the new business department !of the Virginia -bsidiary has sold five carloads of o washing ma- chines in a terr almost_entirely dominated by the .and washer. C. F. Childs & Co. is offering a new issue of $500,000 tax exempt Illi- nofs Midwest Joint Land Bank of Edwardsville, TIL, 4% per cent farm loan bonds, dated November 1, 1026, redeemable November 1, 193§, and due November 1, 1956. The New York Stock Exchange rules that the rights to subscribe to new stock of the Southern Railway may be dealt in on a ‘“when issued” basis on and after toda Right to subscribe expires December 2. EXPECT CUT IN OIL. NEW _ YORK, October 19 (P).— Heavy dally production in the Okla- homa oil flelds, notably the Seminole pool and the Burbank field, is sald to be the basis for reports reaching Wall Street of a pending decrease of {from 20 to 25 per cent in the price of midcontinent crude oil. Daily out: put from the Seminole pool is now {around 54,000 bdrrels and from the Burbank fleld about 48,000 barrels, Oll men take the view, it is said, that a cut would place the industry on a sounder basis. G POWER OUTPUT LARGER. | NEW YORK, October 19 (#).—The {trend of industry is reflected in the net power output of the American Water Works and Electric Co. for September, which shows a gain of 17 per cent over September last year and for the nine months of 1926, a gain of more than 13 per cent over the same period of 192 i PROFITS SMALLER. NEW YORK, October 19 (P).—Net profits of Beechnut Packing Co. for the third quarter declined to $605,811 before Federal taxes, from $758,844 in the same period of 1925 and for the nine months this year to $1,954,187 from $2,111,034 a vear ago. s s el RUBBER SHIPMENTS GAIN. NEW YORK, October 19 (P).— World rubber shipments for the first eight months this year approximated 390,640 tons, an increase of about 67,350 tons over the same period of 1925| the Bankers’ Trust Co. of New York reports. Of this total 366,120 balance wild and Brazilian rubber. | The largest portion of the plantation product came from British Malaya, | 244,935 tons, with Java, Sumatra and Ceylon each supplying between 30,000 and 35,000 tons. SILVER QUOTATIONS. NEW_YORK, October 19 (#).—Bay silver, 5114; Mexican dollars, 39%. jand have made public the terms at | higher than the valuation ratio es-.| tons were plantation rubber and the | N NEW YORK UNITED STATES. French 7%s. French &s German Ell German 7s. . Ger Agr Bank o 3 99% 99% Ger Gen Elec 7s... 1 102% 102% (reek 7s 16 88% 88% 5 98% 98 Holland-Amer 6s.. 25 92% 92% Hungary T%s..... 7 99% 99% ly 7s... 109 92 1% Japanese 6%« 70 98% 98% Lyon 6s.... 87 8T% Marseille 6s. 878 8T Mexico 45 04 asntd. 17 27% 27% Mexico 5sassente 2 42% 42% | Montevideo 7s 1100 100 Netherlands 6s 64.. 15 104 103% Netherlands 6s 72. 6 107% 107% Nord 6%s. 14 88 85% Norway 5%s . 16 98% 98% Norway 6s 1943.... 156 101% 101% ‘Norway 68 1944.... 17 101% 101% Norway 6s1952.... 1 101% 101% Orifent Dev deb 6s.. 20 91% 91% | Paris-Ly-Med 6s... 26 81 80% Parfs-Ly-Med 7s.. 5 91% 91% Paris Orleans 7s. 2 891 89 Peru T%s. 10 100% 100 | Peruss..... 10 103% 103% Poland 6s 40. . Poland 8s. MISCELLANEOUS. 25 30 6 Cen Leath 6s 45 cfs Chile Copper 6s32. |CInGE5%s62. Col Gas & El 58 Col Gas & El bs sta. Con Coal Md 1st 6s. Con Gas N Y 6%s. Consumers Pow b E % Denver Gas bs. Dery (D G) 7s Det Edison 5s 40. Det Edison ref 63 Dodge w1 6s. Donner Steel 78 Dugquesne Light 8s. Empire G & F 7% Gdodrich 8%s. . Goodyear 8s 1931 Goodyear 8s 1941 Hershey 5% Humble O & 111inois Bell 1st bi Illinois Steel 4% Int Mer Marine {nt Paper 5s 47. Int Paper 3s... Int T& T5%S, pt Kan CP&L 58 A 52. Kelly-Spring 8s Kan G & El 6352, Lackawa S 55 60... Laclede G 5%s 52.. Liggett & Myers §s Liggett & Myers7s Lorillard (P) 5s... Louisv G & E 65 53. | Midvale Steel 5 w® o oo Shabraloonwa nERaamwsrerDo~ 19 B noanasomn Montana Pow 5s... 1 101% 1014 | Mor's & Co 1st 4%4s 6 86% 85% | N'Y Edison 6%s... 2 115% 115% INYGELH&P4s. 1 9% 91% | N Y Tel 4%s. 14 98% 98 | N'Y Tel 65 41 . 23 108% 108% | North Am Ed 6s... 1 102% 1023 | North Am Ed 6%s. 1105 105 NorOhlo T&L6s.. 1 96 96 Nor States Pow 5s. 3 100 99% | Nor States Pow 6s. 1 105 105 | Pac Gas & E168.... 6 100 100 | PacT&T6852.... 15 101 100% Pan-Amer Peto 5 104% 1041 Pan-Amer Pete 7s. 11 105% 1054 Phila & RAC&I5s 2 100% 100% Public Servic 12 103% 103% | Pub Serv Elec 7 107% 107% P ServGas5%s59. 1 104% 104% P Serv Gas5%5 64. 7 104% 104% Punta Alegre 7s... 1 108% 108% Sharon St1 H Sinclair Ofl 6 Sinclair O11 6 Sinclair Ofl 78 Sin Crude Ofl 6s. ‘Warner Sug 7s 41. . West Elec 5. . ‘Westn Union &%s. Prague T%s | Queensland 6s. 105 | Queensland 7s 114 | Rhinelbe Un7s. .. e 113% Riode Jan 85 1946. 2 1024 102% Rlo de Jan 8s 47 102 | Rio Gr Do Sul 8s. 103 Sao Paulo 8s 1936 105 Sao Paulo 1950. 4 105 Saxon (PW) 7 99 |Sene7s42..... 9 911 Serbs Crot Slo8s.. 10 94 9 | Sotssons 6s. . . /5% | Sweden 515 et 104% | Sweden 6s. . 105% | Swiss 5% 1 % 1024 | Swiss Confed 8s 2 @ 1184% Toho Elec Pow 78.. 8 95% 95 Toklo5s.......... 8 76 17 Utd Kingm 534529 2 11T% 117% Utd Kingm 5%s837. 25 105 104% | Utd SteamCopen 6s 1 89'% §9% Ajax Rubberss.... 8 103} 103 Am Agri Chem 7%+ 18 104 103% Am Smit & R 1st 5 15 101 100% Am Smit & R 6s 2 108% 108% Am Sugar ref 6s. 4 104% 104% 9814 101% 100:4 106 Am Water Wksb5s. 1 97 97 Anaconda 1st 6s... 8 103 102% Anaconda cv db 7s. 21 106% 106% Andes Cop 7s rets. 38 105% 105% Armour&Co 4%srf 8 90% 90% Armour Del 5%s.. 36 93% 93% Associated Oil 6s 103 Atlantic Refin 5s. 100% Barnsdall 6sctfs.. 34 96% 96 Bell Tell Pa6sB.. 5 102% 101% Bell Tell Pa 6sC. 3 102% 102% Beth Steel pmbs... 5 98 97% Beth Steel 5%853. 22 95 94% Beth Steel 6s. <+ 25 100% 100% Bkiyn Ed gen .. 4 104% 104% Bklyn Union 5%s.. 9 154% 153% Calif Pete 6%s.... 12 ONDS ez Received by Private Wire Direct to The Star Ofica. Sales. High. Low. Close. Westinghouse 5s.. 77 100% 100 (Suleq row. Hieh Tow. Close. | Wilson & Co st 65. 1 991 o0 oo Lib3%s... 381 10017 10015 10017 | Winchester A 714s. 1 1045 10415 104 Lib1st4%s 76 1025 102 1025 |YoungstnS&T6s. 7 104 103% 104 £8 10019 10017 101 1 RAILROAD 64 101 3 1 . . Lib 4th 4%s 269 10215 1029 10215 |4tehisongen ta-.. 6 Sl o oin U8 iises. 135 104 108 28 104 4 e D st ias 1 o4 9% 94 US4%eb2. 65 10780 10727 10710 | AEN O dHe sl 4 b FOREIGN. Atl&Dan2d 4s48. 2 7% 714 714 Sales. High. Low. Close. | B & O gold 4s. 91t 91w Ju59.10 97% -97% g_‘m g:gcvfa‘u 96% 96% | Tt ref bs. 98 98y 98% | B& 0 552000 D. . ot 97 9774 108 108 100% 1027 103- 98 o 106% 106% 102% | B&OPLEWV 4s.. 3 914 91l 91% 95% | B& O SwDiv 5s cfs 21 100% 100% 100% 86% | Bklyn Manhat 6s.. 47 96% 95% 96% 95% | BUTR & Pitt 4%s. 4 911 911 Ol 11353 Canada South 5s... 3 104% 104% 1047 1037 | Can Nor 4%s1935.". 5 97 97 o7 037 | Canad North 7 7 115% 115 115% Sty | Canad Pacdebds.. 8 85% 854 85% 4% | Car Clinch&0 6s52. 9 107% 107% 107% 106 |Centof GaGks.... 3 104% 104% 104% Central Pacific 4s.. 14 91% 91% 91% Canada 551981.... 97 101 100% 101 Canada 58 1952. ... 20 99 984 98% Canada 5381929 8 964 96u 964 le 78 5 169 69 6 Chile 85 1941 Chi& Alton334s... 10 5% 59% 59% Chile 851946 ChiB& Qendss3. 2 92% 92% 9% Chinese Gov Chi&EIgnbs.... 16 78% 78 78% Con Pow Japan7s. 20 95% 95 95% | Chi Great West 4s. 20 68% 68% 68%4 Copenhagen 5%s.. 1 99% 99% 99% | C M& PugetS 4 53 b52% 52% 524 | Cuba %s.... 13 102% 102% 102% |C M&St P4s25cfs. § b53% b53% b3' | Caecho 7148 rets. .. 22 101% 101% 101% [ CM&StP deb 4scfs. 7 53% 53% 53% Czecho8s1951.... 7108 1023 102% | CM&StPen8s.. 1 83y 834 83% Caecho8s 1962 ot.. 82 102% 102% 10234 | CM&StPovi%a. 10 534 53% 5% Danish Munic 8s A. 14 110% 110% 110% SPoviliadsets 33 58% 53 03% Danish Munic 8s B. "1 110% 110% 110% [SM&StPredks. 1 5ila 5 54w Denmark 6s....... 3 104 108% 104 [COE&StPov by e e Dutch East18s47. 30 105% 105 105% [ SY&SE cv 55 ofs Firghrt Dutch East 16s62. 32 105 105 105 |CM&StPes. ... RIS aeTe E'r sl"':,'f,h"“ o :;.13;% u;;% 1:;% (,hm\;ugznfln& : e ;!_7’,, % nland 7s. . . 1 E L i oot 58 931 9au 98%|ChI&NW 4% s 1987, 22 102% 102% 102% 99% 102%|ChIRI& Prf4s.. 52 914 91 91 88% | ChiTH&SEbs.. 1 90% 90% 98% | Chi Un Sta 4%s... .3 97% 97% 97% 92% | Chi Unlon Sta 63%s. 1 118 118 118 99%|Chi& Windends. 9 85% 85% 85% o1 | CEWI5%s62... 10 103% 108 108 | CCc&stLss. ... 10 101% 101% 101% SelcccastLrresa. 2108 103 103 S| Clev TermBs...... 10 103 102 102% oo | Cleve Term 53s... "1 107 107 107 27%| Colo & Sou 4%s... 2 96% 96% 96% 43% Cuba RRG6s. . 7 96 95% 96 }oosu Cuba R R Tt4s 5 108% 108% 108% JoTe |CubaNR6s66.... 1 97% 9T 9TH 85 | Del & Hud cv 5535, 22 114% 114 114 98% | Den & Rio Gen4s. 12 89% 89% 89% 101% | D Rio G West bs 69 69 101% | Erfe 1st cons 4s. 5 101% | Erie gen 4s. 91% | Erfe conv 4s A 80t | Erte conv 4s B..... 30 91% | Erfe conv 4s D 1 82 89% | Erie conv ext 7. 1 107% 107% 107% 100 | Erie & Jersey 3 110 110% 110% 103% | Erfe Genessee R6s 5 110% 110% 110% FlaEC5s 4. 9 67% 9% 9T% Gr Trunksfdb 6s. 6 107% 107% 107% Grand Trunk7s... 7115 112% 4% 105% | Gt Nor 43%s76 D... 17 924 924 921 114 | Great North bs. 5 100% 100% 100% 114% | Great North 51s.. 4 105% 105% 105% 1001, | Gr Nor gen7s..... 17 118% 113% 113% 102 GreenB& WdbB. 5 22 22 22 103 | Hocking Val 4%s.. 95% 95% 95% 105 | Hud & Man ref 5s 961 96% 96% 10515 | Hud & Man aj 5s. 80% 80% 80% 9oy, | 111 Cen 4s 53.. . 87% 87T% 87% Il Centralref4s.. 4 93 928, 92% Tl Central 5%s.... 15 102% 102% 102% IN-C-C StL&NO 5s. 3 102 102 102 IntRap Tran5s... 24 70% 70 70% Int Rap Tr 5s stpd. 12 70% 7 T0% IntRap Tran7s... 5 95% 954 95% Int & G Nor 1st 6s. 2 % 108% 1 100% 100% 100 8 111 110% 110% | MStP&SSV Int & G Nor ad 6s Kan City Ft S 4s. Kansas City § 3s., Kansas City S 5s.. Kan City Term 4s. Lake Shore 4s 28.. Lake Shore 4s 31. Lehigh Val en 4. Lehigh Val 55 2003 Lous & N unl 4s... Man Ry 1st 90. ..., Market St 7s 40. .. Mil Bl Ry & L 5s. M& St L 1st rf 4s. M St P & SSM cn 4s M St P&SSM cn 5s. <38etd M St P & SSM 6%s MK & Tadj5s. ... MK&TprinssA. Mo Pacific gen 4s. Mo Pac 55 1963 Mo Pac 65 49 D. Nassau E Ry 45 67. N O Tex & M in 5s. N O Tex & M 55 B. NOT&MGks N YCentds98..... NYCrfim4%s13 NYCentri5 N Y Cent deb 6s. N Y Cent LS cl 3%~ NYChi&StL 5% sA. NYChi&StL 5%sB. NYC&StL6sA. New Hav deb 4s 56. New Hav deb 4s 57. New Haven c d 6s.. NYOnt Wist4s. N Y Rys 6565. . NY W & Bos 4%s. Northern Pac 3s. Northern Pac 4s Nor Pac 4%s 20. Northern Pac 5s D Northern Pacr 1 6s Ore & Calif 1st 5s. . Ore Short L rfs 4s. Ore Wash 1st 4s. Pennsyl con 4%s Pennsy] gen 4%s Pennsyl gen 58 Pennsyl bs 64 Pennsyl 63%s. Pennsyl gold 7s. Pere Mar 1st 45 56. Pere Marq 1st 5s. .. PCC&StL5sBT5 Reading gen 43%s. . Rio G W 1st 4s.. Rio G West cl 4s RTIArk& L4%s StL IM&S 4s20... St L IM&S R&G 4s. 1 0 9 g StP&KCShL4%s 7 92 91% - 915 StPUnDep5s.... 1104 104 104 SanA&ArnP4s.. 1 88% 884 g8y Seab A L adj 68 T 9% 19 793 SeabA Lcon6s.., 7 94% 94 94 Seab All Fla 63 6 94k 94 94 Sou Pac 4s 29 30 98% 98% Sou Pacific cl Sou Pacific ref 4s.. 5 92 Southern Ry gen 4s 32 84% 841, g4y Sou Ry con 63 94.. 24 106% 106 1064, Sou Ry 68 56. . 1 111% 111% 11114 Southern Ry 6%s.. 9 118 117% 1174 Third Ave ref 4s... 1 61% 61% 61y, Third Avead) 5s... 18 50% 50 50 Tol Tr L&P 5%s 30 1 98% 984 ggi | Union Pac 1st4s... 20 946 94 o4 Union Pac 1st rf 4s 10 904 901 ggy Union Pac 4s 27 2 99% 991 ggi Union Paccv 6s... 4 102% 10214 102 Virginta Ry 1st 58. 36 102 1013 1073, 1 98% 981 ogus i, 8 Wabash 2d 5s. ...+ % 100% | Wabash 5%875.... 47 102% 1028 1023, West Maryland 48. 36 73% 73y 73y Western Pacific 68. 5 99% 991 g9y West Shore 1st 4s.. 3 86% 851 857 Whel& LErf4%s 9 89% 89y ggi Wilkes & E 1t § 1 7% 7% 71y PRICES ON PARIS BOURSE. PARIS, October 19 (#).—Prices were heavy on the Bourse today. Three per cent rentes, 48 francs 45 centimes; exchange on London, 165 francs 95 centimes; 5 per cent loan, 54 francs 40 centimes. The dollar was quoted at 34 francs 25 centimes. JAPANESE BONDS AT NEW HIGH MARK {Feature Trading Today. Other Foreign Issues Move i Irregularly. H BY GEORGE T. HUGHES. Special Dispatch to The Star. - YORK, October 19.—Thg fea ture of the bond market todey was the buying of Japanese 6l4s, which made a new high record for all time. First offered in 1924 at 9213, the range has been remarkably small for so ac tive an issue, the extreme variations in the last two years being less than 9 points. They have a)ways sold be low their investment merit largely be cause of uncertainty about political relations between the United States and Japan, but today simultaneously with the rise in Japanese exchange the bonds made a new high price but still below par and yielding 61 per cent. ik, Other foreign_bonds moved {rregu larly. French 71;s gained fractional 1y, while French 8s lost about much. French raflway issues were also inclined to go lower. Germar obligations were practically unchang- ed and the South American groun held its own, but little more. Advances and declines were about evenly divided among the speculative rail: Chicago, Terre Haute and Southeastern incomes were again active and strong. There was con tinued demand for the New Haver issues at approximately the highs of the movement. On the other hand Chicago and Eastern Illinois acted and International Great ern adjustments dipped below the low of last week. There were one or two weak spots in the industrial list. Sinclair 6s dropped below par to @ new low for the year. There was selling of Atlan tic Gulf and West Indies 5s at conces sions. At 66!z they were only a half point above the year's extreme low Among the tractions, Brooklyn Man hattan 6s made little response to the encouraging earnings statement pub lished today. Interborough issues were a shade higher at times, but bids were readily filled. Granby Mining 7+ ran up a point and were the feature in thelr class, For the most part, high-grade in vestments were firm. There was no tendency, however, to advance quoti tions. In the United States Govern ment list the Treasury obligations were in the greatest demand. New Bond Issues NEW YORK, October 19 (Special).- One of the largest pieces of municipal financing in some time was presented today by a banking group headed by the First National Bank, White, Well & Co.; Old Colony Corporation, Wil liam R. Compton Co. and others. Th offerfng consists of a new issue of 25,000,000 city of Philadelphia 414 per cent bonds, due Oct v 16, 1976, and redeemable on or after 15 1946, priced at 101 and interest. The bonds are legal investments for sav ings banks and trust funds in Penn sylvania and other States. A new issue of 10-year 6 per cent guaranteed notes, unconditionally guaranteed as to principal and interest by the Metropolitan Casualty Insur . of New York and amounting obligation Corporation of New Y ‘which a net capital and surplus of $533,780. Offering is expected in the near future of a new issue of $1,000.000 Shenango Valley Water Co. first mortgage § per cent bonds, series A, due 1956, by W. C. Langley & Co and H. M. Payson & Co. he issuc is to be priced 93 A. G. Becker & Ui sale of a new s Unterelbe Power and Li cent sinking funa mo due October 1, 4, priced at 9 to yield about 7.8 per cent. The con pany is engaged in supplying electric power and light to the ecity of Al h owns the en- the . Unterel Power and Li E. Barrett ey & Co. and & Co. are ‘offering a new $1,200,000 Southern Gas Co. cent gold debentures, serfes A ight Co. October 1, 1936, priced at 9714, to vield about 6.85 per cent, Another mew municipal issue s of Ashevill that of $1,590,000 City « =3 IN. C., 4% per cent bonds due serially September 1, 1929, to 1566, inciusive offered at prices to vield from per cent to 4350 per cent by a syndi cate consisting of the Bankers Ti Co., Guaranty Co., First Chicago ( antlon and the St. Louis Commerce Yo. PRINT CLOTHS ACTIVE. NEW YORK, October 19 (Special).— There was a change in the tone of the cotton cloths market tod: but no change in quotations for s scriptions. Print cloths un changed, but fairly active. The raw silk market was unchanged on Japa nese silks in New York and Yokohama. with trading quiet, but the Canton grades dropped 5 cents a_pound for 14-16s and 15 cents for 20a33s. RS BUTTER IS HIGHER. CHICAGO, October 19 (#).—Butter— Higher, receipts, 10,924 tubs; 2 ndards, 4 firsts, 38134014, sec Eggs—Unchanged; re ceipts, 6,689 cases. POTATO MARKET FIRM. CHICAGO, October 19 () toes, 167 cars; on track, 44 U'nited States shipments, 1,315; fair, market firn Wi msin, sacked round whites, Minnesota sacked. round whites, 2.10a2.35; Minn. sota, North Dakota, sacked, Red River Ohlos, 990; Idaho, sacked, russet 2.50a: Colorado, sacked, Brow: Beauties, 2.90a3.00; Michigan, sacked Russet Rurals, 2.30a2.65. MINE CARS ORDERED. NEW YORK, October 19 (#). -0 ders for 300 mine cars have been placed with Pressed Steel Car Co. b the Pennsylvania Coal Co., and with American Car and Foundry. SRR HOWE SOUND PROFIT. NEW YORK, October 19 (4).—Profit of Howe Sound Co., mining, for the nine months this year, before deple- % | tion, was $2,415,941, equal to $4.87 share, against $903,012, or $2.27 a share, in the corresponding period of 192 T White Train in Operation. With all the coaches a spotless white, a new Transalpine train has been put in operation between France and the Alpine country. This train is said to be more startling in appear- ance than the famous “Blue” train | with its handsome paneled decorations so prominent at Deauville and the Riviera.