Evening Star Newspaper, November 4, 1926, Page 13

FINANCIAL. BULL SIDE FARES BETTER N STOCKS Rails and Hard Coal Shares Display Strength in To- day’s Dealings. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, November 4—The stock market yesterday demonstrated the inability of professional traders to get prices down more than tem- porarily. The way stocks turned about and ran up in the last half hour of that session encouraged some further experimenting along the same line as business began today. On the whole, these operations for the rise were fairly successful. They brought out clearly the improved posi- tion within the general market result- ing from the liquidation which began toward the end of September and cul- minated in the middle of October. This liquidation was completed with the outstanding short interests still quite lirge. The upshot was that these short sellers, in order to get ir their contracts, had to bid for stocks. Part of this buying was done two weeks ago and has been going on a° Intervals since. Another part was noticeable yesterday and again today. The features were the strensth in some of the ally the share of coal-carrying s, the better demand for certain of the copper and smelting stocks and the advance ir some of the railway equipments. Wall Street has heard a lot during the last month of a prosperity in the soft coal mining industry. 5 Bituminous coal has been going up because of the scarcity produced by the heavy foreign demand which in turn grown out of the 1ngzlish coal strike. Today more attention was paid to the hard coal stocks. The reascn was that the soft coal shortage was bound to react more and more upon the anthracite situation. On this _belief, Delaware, Lackawanna and Western had a very sharp rise, Delaware and Hudson and Reading were very strong and Philadelphia and Reading Coal rose on large transactions. The chief incident in the copper section was the unusual trading at new high levels for the yearin Nevada Consolidated. This was accompanied by reports of an impending dividend increase. American Smelting for a time was rather keenly bought. Bald- win Locomotive was the leader of the railway equipment. The rise was ascribed to the covering in of short commitments, which is always diffi- cult when the floating supply is small, as it perennially is in Baldwin’s case. The sugar stocks reflected the growing opinion that the worst is now known about conditions in the sugar trade .and that a slow improvement ay be expected. here was a natural hesitation to do much in the market with more bad statements like that of Cuba Cane in prospect. Still, sugar stocks have long been sold out. American Sugar was the leader today, but Great Western' Sugar, Punta Alegre and Cuban American were all higher Mack Trucks was very weak, with a break of nearly 3 points at one time. The stock has sold down in consequence of intimation of a poor showing In the mext quarterly re- port. Stewart Warner also took n tumble. The selling in these stocks, while it lasted, held up the general list, but as soon as it was over buy- Ing operations were resumed. o NEW FREIGHT SERVICE. Shipping Board O. K_‘s Line From Baltimore to South America. Special Dispatch to The Star. BALTIMORE, November 4.—The United States Shipping Baord has au- thorized an experimental direct steam- ship service from Baltimore to the east coast of South America. The American Republics Line steamer W selene will load here on November 4, after a short call at Norfolk, will clear direct for the ports of Montevideo, Buenos Aires and Ro- sario. The service practically will be on an express cargo basis. It represents the first opportunity for such direct consignment offered to shippers for nearly two years. -— FCREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks old value. ~_ today. £O80 8005 sduey ondon. ontre: a pound.. Poiotiar thens, drachm Ahna. pesetn. 51 Vienna, crow 00014 14 udaest k ;"é""" 658 S 503 crown 670 YORK, November 4 (@.— hanges irregular; quota- reat Britain, demand, 484 9-16; 60-day bills 13-16. France, demand, Italy, demand, ragie, CrOWD. Warsaw, zloty . Copenhagen. cro! Oslo, crown Stockholm, NEW Foreign ex tions in cents: ( e 13.90% 39.9: Norway, 8; Denmark, 26.58; 15.14 13; Czecho- 1.76% Switzer Greece, 1 slovak Austria, Argentina, TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.) Noon MANY VISIT DETROIT. November 4 (Special).— ion people will have oit before January 1, at- conventions held here this There have been 300 conven- neld in this city and the book- r 1927 conventions is 100 per t her than it was at this time year. POULTRY PRICES STEADY. CHICAGO, November 4 (). Poultry receipts. 12 cars; fowls, 17a. ings, 23; turkeys, 80; roosters, 1 PRICES ON. PARIS BOURSE. PARIS, November 4 (P).— were heavy on the Bourse today. Three per cent rentes, 50 francs centimes: exchanze on London, 143 francs 65 centimes; 5 per cent loan, 0 francs 50 centimes. The dollar was quoted at 29 francs 63 centimes. Net profit of the Ward Baking Cor- poration for the 15 weeks ended Octo- ber 16 amounted to $1.292,183, equal, after preferred and class A dividends, to 77 cents a share -n the class B stock. This compares with $1,183,969, or 58 cents @ share on the B stock, in the same period of 1925. Total income for the period was $2,112,894, against $1, 935,382 a year ago. THE. EVENING STAR, WASHINGTON, D. G, GEORGETOWN GAS BONDS LEAD NEW YORK STOCK EXCHANGE R&dwdbymmmmtonestnmlu Abitib! Pow (4). Adams Exp (8). Adv Rumiley. Ad Rumey » Ahumada (f1).. Alr Reductn (16) Ajax Rubber. ... Allfed Chem (4). AllledCm pf (7). Aliis Chalm (8). Amal Leather. ., Amal Lthr pt(7) Am Agricul Chm Am Agri Ch pf.. Am Bank N 1.60. Am Bosch...... Am Brake Sh(6) Am Br Bov EI(2' Am Br Bo pt (7) Am Can (2)..... Am Car&Fdy (6) Am Chicle (3).. T Chicle cfs(3) Am & For Pow. . Am & Fo P pf(7) Am Hide & L pf. Am Ho P (2.40). Am Ice (110)... Am Ice pf (8) Am Locomot (8) Am Loco pf (7). Am Metals (4).. Am Po&Lt (g1). Am Republic Am Safety R Am Ship & Com. Am Smeiting (8) AmS & R pf (7) Am Stl Fdys (3) Am Sugar (5)... Am Sugar pf (7) Am Sumatra.... Am Tel &Ca (5). Am Tel & Tel(9) Am Tobacco (8). Am Tobac B (8) Am Typ Fdrs(8) Am Wa Wo c1.20 Am Woolen. ... Am Wool pfa(7). Am Writ Pa pt Am Zine. Am Zine pf. Anaconda (3)... Archer-Dantels. Armour of 111(A; Armonr of TII(B} Artloom (3).... Artloom pt (7).. Asso Dry G(2%) Atchison (7).... Atchison pt (5). At1C Line(19%) Atl Gulf & WI. . Atl GuIf&WI pf. 1riantic Refine Atlas Powdr(15) Austin Nic pf(7) Auto Knitter. .. "aldwin L (7). . Bald Loco pf (7) Ralto & Ohlo (6) Ralto & Oh pf(4) Hung & Ar (3) .. *arnsda’l A (2). Barnsdall B (2). “avuk Clear. ... RBeech- Nut (18). Telding Bros(3) «thlehem Steel “eth St1 pf (7). Driges Mfg (3). BKInEdison (8). 1kn-Mn Tr (4). Rk-Man T pf(6) BkIn Un G(t11), Rrunswick Ter. Buff Roch&P(4) Rurns Bro (10). Rurns Br B (2). Burns Bro pf(7) Rush Ter de (7). Butte Copper&2 Rutte&Super(2) Pyer &Co...... By-Products (2) Calif Packg(4). 1 Petrol(2). Callahan Zinc Calumet & Ar(8) Calumet&H(1%) Can Dry (c2%). Can Pacific (10). Case Threshing. entral Alloy/2) Cent Alloy pf(7) nt Lenther nf. Cen Ry NJ (112) erro De P (4) .. Certain-Teed (4) Chand-Cleve. ... Chand-Cle pf(4) Ches & Oh (112) Chi & East IIl. .. hi & East Il pt Chi Great West. “hi Gr West pf. Chi M{'&StP pf. C M&StP pf cfs. “hi & Nwn (4) . Chi Pneu T (5) Chi R1&Pac. . CRI1&P pt (6) CRI&PDL (7). Chile Cop (23%). Chino Copper-. ... Chrysler Corp(3 Coca-Cola (7)... Collins & Atk(4). Collins&Alk pt 7 Col Fuel & Iron. Colo Southern Col Gas & El (5) Col G&El cfs (5) ol G & E pf (T) Col Carbon (4).. Com Cred (2). .. Com Cr 1st(6%) Com Inv (3.60).. Com Solv B (8). ougoieum-N.. Con Cirars (7). Con Cigars pf(7) “onsol Distribut ‘onsol Gas (5). . ConRRCuba pf 6 Lonsol Textile. Cont Bakg A (8) Cont Baking B.. Cont Can (16).. ont Mot (80¢). Corn Prod(t2%) “orn Prod pf(7). oty Inc (4).... Crown Pa 1st(7) Crucible Stl (5). Cuba Cane Sugat Cuba Cane Su pf Cuba Co (4).... Cuban-Am S (1) Cuban-Am pf(7) Cushman’s (8). . Davison Chem. De! & Hud (). Del L & Wn (+7) " RG Wstpf... Detroit Ed (8) etroit Ed rt Devoe&Ra (2. Dodge Bros Cl A Doage pt (7). .. Dame Mines (2). Douglas Pec (2) Punont 14). | Dupont (new).. | Dupont deb (6). astman (13)... Eaton Axle (2). Efsenlohr & Ero E' AutoLt(t6%) Flectrie Beat ] Elec Power & Lt | EP&LDS 40% (T) Elec P & L pf(7) Elec Refrig (c2) Elec Sto Bat(16) Elk Horn. Engineers Engnrs PS pf(7) Equitable pf (7) ErieRR. ..... | Erie1stpf . ! Erie Stm S(2%) | Erte Stm S p£(7) pureks Vac 41 | Exchange (1%). Famous Pl (J8). FedLight(®1.40) Fed Min & Smelt Fed Min pf (7). | Fed Mot T(f80c) First Nat SU%) 115k Rubber. .. Fleischmn (12%) Foundation (8). Fox Film A (4).. Cudahy Pkg (8). Cont Insur (6).. 1 40% 31 24 102% 102 o3 28y 132 145% 42 13% 32% 80 72 24% 29 17 48 8%, 2%’ 78 % 8 8 128% 131% 120% 121 86 15 16 105% 105% 1 1% 89 ' Freeport-Texas. | | Gen Am Tnk (3) Gen Asphalt. ... Gen Asph pf (5). Gen Cigars (4).. Gen Elec (h3). .. Gen Elec sp (600 Gen Gas A(el %) Gen Motors (7). Gen Mot pt(7). . Gen Outdr A (4) Gen Ry Sig (15). Gimbel Bros Glidden (2). Gold Dust...... Goodrich Ru (4) o Goodyr pr pf(8). 35 84k 16 8% 36% 5 25 128 123 821 82% 38 88% 12% 12% 31 814 105 105% 119% 119% 4B% 45% 61 61% 45% 45% 61% 61% T 131% 133% 118% 118% a2y 42% 76% 78% 104% 104% 85 85 29% 29% 146% 1467 120% 121% 120% 121% 120% 1204 53% b3% 29 52 112 42 42 152% 154% 99% 99% 197 201% 35% 386 36% .37 103 108 60% 61% 54 54 % % 119% 128% 114 1156 103 I 103% 103% 26% 25% 157 157 67% 68 241 84% 93% 93% 17% 18% 80 80 128 128 26% 29% 100% 100% '90% ~ 90% 4% 4% 12% 12% 36% 364 2% 3% 68% 68% 81 81w 1% 1% 68% 16 36% 87 1638 164% 159 1671 281 281y 106% 106% F1% 52% 277% 277% 62% 62% 42% 42% 10% 10% 26% 26% 169% 1707% 33 33% 49 874 25% 18% 1% 17% % 17 110% 110% 44% 8% 24% 18 57 58 187% 197% 22 22% 72 3% 100 100 1% 2 126% 126% 584 5Rsy 98% 98% 0% 70% 102% 102% 101% 101% 93 93 28% 2% 172 176 145% 150% 42 4% 1344 134% Su 3% 52" 482 23% 23% 8214 525 9% 9% 42% 43 320 325 159% 162% 106'x 1064 117% 120 28% 24 1% 11% 66% 661 9 9% 16% 16 101 94% 45% 85 15% i i Gothm S H (2%) Gotham new 21 Gould Cou (2).. Granby Consol, , @rt North pf (6) Gt Nor Ore (1%) Grt Wstn Su (8) Green Canan. Guantanamo. Gulf Mo & Nor. . Gulf States (5). Hartman A (2)., Hartman B k4 40 Hayes Wh(ta1g) Helm Geo (16% ) Househd (13%). Houston o1, ., Howe Sound (4). HudsonMan (214 Hudson Mo(314) Hup Mot (1.40). Lliinois Cen (7). L1l Cen Isd 1f (4) indep Ul ()., Indian Mot (1%) Indian Ketining. Ingersoll-R(T5). AUSPITALON (). interbor kap Tr. sac Bus Ma (3).. int Cement (4).. Int Cement pf(7) Int Com Kng (2) int Harvstr(8).. Inter Har pt (7) L sl pIed.z0) Int Match rts... int Mer Mar pt. int Nickel (2).. int Paper (2)... int Paper pt (7). Int Tei & Tel (6) Jewel Tea...... Jones Bros Ted. KCP & L 1st (1) hau Cily Soutn. Kayser J (3). Keliy-Spring... Kennecott (4).. Keystone T & R. Kinney G R (4). iKinney pf (8)... Kresge S8(i.20) Laclede Gas (8). l.ago Oil & Tran Lambert (3%4).. Lehigh Val(3%) Leh&Hink stf(3) Life Sav (1.0)... Liggett & M (14) Lig& M B (14). Liq Carb (3.60). Loew’s Inc (13). Long Bell A (4). Lorillard (§2)... Lorillard pf (7). Louisiana UIl. . . LouisGasA (1.76) Lou&Nasn (163 Ludlum Steel (2} McCrory B {1.60 Mack Trucks «6) MackTr 2d pf(7) Aagma Cop (3). Man EI Sup (5). Man El m g (D5) Man Shirt (1%). Manila Eleo (2). Maracaibo On. . Market St prior. Marland O11 (4). Marland Ot rts. Marlin Rock (2). Martin-Pary(2). Mathieson (4).. May Dept St (5) MetroG pf(1.89) Mexican Seabd. . Miami Cop (1) . Mid-Continent Midd'e States. . . Mid States Ofl et Mis Kan & Tex.. MoK & T pf (8). Missourt Pacific Missourt Pac pf. Montana Pow(§) Montgmry W{4) Moon Mot (1%). Mothr Lode(75¢) Motor Met(3.60) Motor Whi (2 Murray Body. Nash Mot (43).. Nat Biscuit t63% Nat Cash R(A)3 Nat Cloak & Suit Nat Dairy (3) Nat Dpt Store: Nat D St 1st (7). Nat Distillers... Nat Enamel & S. Nat Lead pf (7). Nat Pw&Lt (80c) Nat Ry Mex 2d.. Open. 30% 43% 76% 117% 524 113% 43% 40 10% 28% 114 14% 14% 23% 23% 131% 181% 28% 284 3% 3% 92% 92% 102 102 35% 36 54% 554 23% 114 Yat supply (4).. ol Nat Tea (4).. \evada Cop (1). N Y Canners(c2) NY Central (7). NY Chi&StL(11) NYC&StL pf (6) NY Dock....... NY NH & Hart.. NY On & West. . NY Rys part cfs orfolk South. . orf & W (110). Norf & W pf (4) N Am(10% stk). North Pac (6) Norwalk Tire... 011 Well Sup (2) Ofl Well Spf.... Omnibus....... Omnibus pf (8). Onyx Hos (3.20) Onyx Hos pf(7). Orpheum Cir(2) Otis Steel Otis Stl prior Owens Bot (t4). Pacific Gas (8).. Panhandle. . Pathe Ex (c8) Penick & Ford. . Penn C & Coke. . Penna RR (3%) {enn-Seab Steel. Peonlas Gas (8). Peoples Gas rts. Peorja & East Pere Marq (18). Pere Marq pf (5) Phila Co pf (3).. Phila&RC&1. Philip Morris. .. Phillips Pet (3). Pierce-Arrow. .. Pierce-Ar pt (8). Pierce OMl...... Pienge Perolm.. Pitts Coal...... Pitts Coal pf. Pitts FtW pf (7) Pitts St pf (7). Pitts Term Coal. 2% | Pitts & W Va(8) { Porto Rico Tob. vostum (6)..... Pressed Stl Car. Pr Stl Car pf (7) Prod-& Refiners. Pub Ser, N J (5). Pub Ser' NJ (n). Pub S NJ pf (8). Puliman Co (8). Punta Alex Sug. Pure Ol (12%). Purity Bak (A). | Purity Bak (B). Radio Corpof A. Radio C pf (3%) Ray Copper(26c) Reading (¢)..... Are Dealt BY EDWARD C. STONE. Georgetown Gas bonds led trading on the Washington Stock Exchange today, the §s opening with a_$1,000 transfer at 9815, followed by six other sales involving a $24,000 turnover at 98, The only other bend sale during the session was in Washington Gas 65, a small bond bringing 101. Washington Gas Light stock was strong, opening at 71% and advancing on sales totaling 50 shares to 71%. Both street railway stocks were out, Capital Traction opening at 104 and closing off an eighth on a 10-share sale. Railway and Electric preferred sold to the extent of 30 shares at 90%, the recently prevailing price. Both type stocks also appeared on the board, five shares of Lanston Monotype selling at 923, off a quarter of a point from last week’s close, while a single share of Mergenthaler Linotype sold on today's market at 105%. The records show that Peoples Drug Stores preferred is the only stock on the list now selling ex divi- dend. Urges Two Cars Per Family. In his address here the other eve- ning, Alfred Reeves, manager of the National Automobile Chamber of Commerce, said that 31 miles of new autos are being made cvery day; that the saturation point will be reached when every family has a car, and, in- cidentally, added a few words in favoy of two cars for each family. To keep harmony at home, he has just bought his second one, so that he can gp to the golf Ilinks and his wife 'and daughter shopping at the same time. heme is all right for wealthy commented a local banker on the suggestion, “but many resi- dents of Washington are not ready for it. When the second automobile purchased on the instaliment plan ar- rived there would be nothing to do but step into it, get the family aboard, grasp the steering wheel and guide the machine over the hills to the poor- house.” Report Raps and Praises 1. C. C. At the recent convention of the Investment Bankers' Assoclation, Chairman J. R. Swan of the railroad securities committee, concluded: ! “The railroad business of this country is in exceptionally prosper- ous condition, fully hoiding its own with the general prosperity: There is apparently no pending legislation or attitude of the public which in- dicates anything but a desire that THURSDAY, TRADING ON LOCAL EXCHANGE JRRRRSSIG | T Washington Gas Light Stock Strong—Both Street Railway and Type Shares in Today. the railroads shall operate satisfac- torily and shall prosper. The Inter- state Commerce Commission, whose decisions we may at times question, is, however, we believe, endeavoring impartially to decide the important matters which .come before it with due consideration for the interests of the owners of the rallroads, the shippers and the public.” . Railroad Issue Authorized. The Seaboard Air Line railway was authorized by the Interstate Com- merce Commission yesterday to issue $11,336,000 of equipment trust certifi- cates, of which $9,060,000 will be sold at no less than 953 per cent of par and accured dividends and $2,276,000 at no less than 97 per cent of par and accrued dividends in connection with procurement of equipment. The notes have been marketed and contracts for the equipment have heen awarded. Cost of the equipment equals the face value of the notes. The Seaboard borrowed the full value of the equipment through sale of $9,- 060,000 notes secured by a first lien and $2,276,000 notes secured by a sec- ond lien. Chain Store Sales Gain. October sales of F. W. Woolworth Co. rose to $24,800954 from $22,- 975,857 in October last year, and for the 10 months of 1926 to $189,751,115 from $179,012,467 in the same period of 19 Neisner Bros., Inc., reports sales for Ocfober of $441,670, as compared with $261,994 for the e period in 1925, an increase of 68.5 per cent. —Sales for the 10 months ended October 31, were $2,930,496, as against $1,816,337 for the first 10 months of 1925, an - crease of 61.3 per cent. . Other Financial Notes. Virginia bankers are planning an early conference with cotton growers in an effort to cut next year’s average 25 per cent. The present crop showed improvement during October, but on account of low prices the fields are not being picked as closely as usual. Thomas E. Jarrell, president of the Washington Savings Bank, is passing a few days in New York in the in- terest of his bank. George E. Fleming is back at his desk at the Union Trust Co. after tak- ing his annual vacation. As a result of election wagers one member of the local Stock Exchange is wearing a handsome new necktie and another has an equally nice look- ing hat and pair of gloves. 19% 20% 42% 46% 42 98 102 8% 4% 114 Reading rts..... Reading 2d (2). Real Slk Hos. ... Reid Ice Cm (3). Reld IceCr pf(7) Remington Type Replogie Steel Reynolds Spng! Rey Tobac B(6). Royal D (a8.078) Sufety Cable (4) St Joseph Li(t).. StL & SanFr (7) St L Southwest. Seaboard Air L. Seab Air L pt. | Sears-R (n2%). | Seneca Copper. . Shattuck F G(2) Shell Un (1.40). Simmons(12.26) simmons pf (7). Simms Pet (1) Sinclulr Of1. Skelly Ol (2)... Sloss Sheff (6). Sloss-Shf pf (7). South Port S (6) So Porto R Srts. Sou Dairies A(4) Sou Dafries b.... South Pac (6)... Southern Ry (7) Southern Ry rts South Ry pf (6) Spaulding pf (7) Spicer MIg. { Sta Gas & El g3. $td G & El pf(4) Std Ol1 Cal 12%. Std Ol NJ (1).. Std Ol NJ p£(7) Sterling Pro (5). Stewart War (6) Stromberg (6).. Studebaker (5).. Submarine Boat. Sun Oil (f1).... Superior O1l Symington A(2). Tenn Copper (1) Texas Co (3).... Texas Coct (3). Texas Gulf Sul., Tex & Pacific. .. Tex & Pac C& O 20% 424 Timken (15). . Tobac Prod (7). Tob Prod A (7).. Transcont Oil... Underwood (4).. Un Bag& Pape Un Carbide (5).. Un Ot (2).. Un Pacifie (10).. Un Pacific pf(4). Un Tank Car(5). Un Tk Car pf(7) Utd Clgar 8 (c2) Utd Drug (8)... UtdDrg 1st(3%) United Fruit (4) Utd Paperboard. U SC1P&F(10) U S Distributing U S Ind Alcohol. U S Ind Al p£(7) U S Realty (4).. U S Rubber..... U S Rub 1st (3). U S Steel (7). 1 U 8 Steel pf (7). Uni Pic 1st pf(8) Universal Pipe. . Univ Pipe pf (7) Utl PELt A (e2) Vanadium (14).. Vick Chemical. . va-Caro Chem. . va-CarCh 6% pf Va-Car Ch pf(7) Vivadou (3) w Ward C1A (8).. ward Bak pf (1) ‘Warner Bros.... Warren Bros (4) Weber (4) West P F1p(T). West Maryland. West Pacific West Union (8). Westhse A B (7) Westinghse (4). Wheel & L Er! ‘Wheel & LE pf. White Eagle (2) White Mot (4).. White Rock (12) ‘White SM pf(4) . Wllys-Overland willys.0d pf (1) Wwilson & Co. ... wilson & Co(A). wilson pf (3%). Woolworth (16) - Worthn Pump. . ‘Worthtn B (8) . . Wright Aero (1) Yellow Tr (75¢). 2T Youngstown (4) 85 85% Hourly Sales en N. Y. Market. 12 n.. 642300 *2p.m. 989,900 Adirond. L. & P. C. 6s 1929 { Alum, Co. r. 78 193; | Sud- Oil of, | Wise. i Atlas Powder. 0. P {Ind Floo: OFFER JUGOSLAVIA LOAN. $40,000,000 Long-Term Issue Prof- fered by Blair & Co. By Cable to The Star and Chicago Daily News. VIENNA, November 4.—Blair & Co. of New York have offered Jugoslavia a $40,000,000 long-term loan on condi- tions supposed to include the funding of her debt to Great Britain and set- tling the Bosnian debts. Jugoslavia seems fairly prosperous, although taxes are high. Production ingreases yearly, but lower prices for farm products seem to off-set fhe in- creased tonnage exported. (Copyright, 1926, by Chicago Datly News Co.) EMPLOYES SELL STOCK. NEW YORK, November 4 (P).—A total of 25,499 shares of $2,549,000 par value of new 6 per cent cumulative preferred stock of the Public Service Corporation of New Jersey was sold by employes in October, which is more than 50 per cent of the issue being offered in tie popular ownership cam- paign. The stock was sold to more than 4,968 Individual subscribers. FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Asked: Vil Closing.) ] e Rate—Maturity $%s Nov. 193 s May 1D390-2 4 4 4 4. 4. 4. 4 b b it 55555555255=55 23338322228382 83555555582255 SIIZ3I22222883; [T ———— ERRRRARFIR S R 20 20 .24 23 24 15 3 19 19 % GERMAN BONDS AND STOCKS. (Quoted in dollars per million mar} Bid. _Asked. Ger Gt (w In) Bs 1014-18 1875.00 1925.00 Hamburg 4%s 1919 120.0 (Quoted in dollars 23383 oN0oncooDID! S2SRS333SSSRS o 33338 Murich 4s vre. Badische Anilin_ A E G (Ger Ge Eiec) AEG (GGE) pfd B Commerz and Privat Disconto Gellschaft Dresdner Bank. .. .. Deutsche Bank . Darmstaedter Bank Mercur Bank Vien: Hevien Chemscal Aust A E G (Gen Berliner Handels » B - scmomms 3335338 S PR SENEEaasomraSSuasw: Qisoosos0a00hosax S&333 SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) ——Noon — 5:) F R PR b i NS SheSSos550n00500. S CREEEEED R P it i i B ] Central of Georsia 65 1020, hi., Mil. & St. Paul 6s 1934 City' of Lyon Gs 1034 Columb. G. & E, 1st 58 Continental G, & E, 58 192 Fisher Bodv Corn. Bs 1928 Tk B 69 102 PR S S Shess 32232230 e e FIF AR w Oregon Short Line 4s 1929.. nna. K. R. 4s 1981 . Pure 0il Co. 8148 193 Sinclair C_0il Sou. Pac. R Sesgeotectnrnt s S20a0nonsseooSCo! gze E N. Swift & Co. B @ BB R FEFEISTTEEREF PFEE EFPLEL FEES FFEFPVIEE FSGSE ooy ent. Ry. Corn. Am Tel & Cable riod Artloom Corp... Rov 30 v 3 o, e Nov 20 Brown 'Shoe. 3 g Nov 20 Do. pf.. . 5 E Siin & Co pf. GtA&PT D Lud Mfe Asso.. Phils Jones Co. Pitts T Coal NOVEMBER 4, 1926. FINANCIAL. The Star Offica. Received by Private Wire Nrect to (*) This table carries quotations recelved up to 3:16 p.m. A com- plete table will be published in the 5:30 Edition. UNITED STATES. (Sales are in $1.000.) jales. High. Low. 8:10. 160 100 14 10012 100 12 4 10211 1028 1028 Lib3d4%s. 30 1015 1018 1018 Lib 4th 4% s 127 10219 10216 10218 US4s1944. 41 10412 104 10 10410 US4%s63. 93 10815 10812 10813 FOREIGN. Sales. High. Low. 8:10. Argentine 6s Ju 59 35 97% 97 Argentine 6s Oct59 13 Arentine 6s A Argentine Areentine 7s. Canada 5= 1981, Manada K= 1952, Canada 5%s 1929, hile Te 1048, Chile 8= 1941, Chile 85 1946. Chinese Gov Ry §8. Con Pow Japan 7s. ~anenhnen 5% Cuba 5%s. "zecho T%s Czecho 83 1951. Czecho 88 1952 ct. . Danish Munic 8s B. Denmark 6s. . DETHR%s Mch B3, Dutch East I 6s 47. 1 Finland « £ 68 45. Tinland 7s. . Wramertean 7% Traly 7a. .. Japanese 4s Tananace A15w. ... 221 Tarmane 17 M 63 47. Lyon 8s. 120 Warses Wexico 4« 04 asntd. Mexico 4510 aentd 10 Mexico Fmassente 38 Montavideo 7s. .. .. Netharlands 68 54, Nord 8%s. Norway 5%s. Norwav fe 1048 Norwav A 1044 Norway 6s 1952 Ariant Dav deh 7 93 82 Toland fs. Porto Alecre 88 Prague 7%s. Aneensiand dx Aneensland 7s. ~hinathe TTn 7 Rio de Tan 8 Rifo Ae Tan e 47 Rio Gr Do Sl 8., @2 Pantn R 1936, Sao Pantn 1980, Saxon (PW) 1 Seine Tw 42, Serbe Crot Sl a0 10214 108 1008 113% 0/, 76U f1td Ringm 514829 16 117% 117% TtaKingm 5%s 7. 6 104% 104% MISCELLANFNUS. Afax Ruhher=a. ... 1 1084 108% Am Aert Cham 7146 10 104 10814 Am Cotton Of1 b 1 94% 94l 1y 1m 100 108% 1 105 104% o 102% RRY 103 105% 109% 1% LA ] AMT&Taths... Am TR T Aok Bike Am Water Wk 5s. Am Writine Pap 8 Anocanda 1at fa. .. Anaconda cv b Ta. Atrf@es Con 7x rets. Armour&co 4%t Armonr De! Rlkg. . Associated O 8s. . Atlantle Refin bs.. RarneAal Rs otfs. TN el Pa Ke B, VAl Tall Pa fn Oath Stael nm Ba. . Fath St Tl e BY Reth Steal 6n. Brier H St 1st 5% Pkivn A wen fa ®kivn TTnlon 5%, . ~ 1t Tate Rlhw. Chile Copper 68 32. Co) Gar & V! s Col fas & ¥ Santa. Fammanwlth T @e. Con Coal M4 1st § Cou Gas N Y 5%s “amenmare Pow B8, Cuba Canecv 7s. Auha Cane v fe Cuban Am Sug Neaver Gasfs. .. Narv (M G) Ta. Det Bdison 58 40... Nodee wifs. €9 ‘Dunuesne Lizht 6 et CuhneQne TS, Tmpire G & ¥ 7%48. 2 Wiek Riuhher 8 GooAxick B%s oodvear Rs 1931 Snodvear R 1941 Hershey B1An. . “ndlana Stee! 58, Tnt Mer Marine 8s. 207 Int Paper 6s 47. 5 - Rellv-Snrine Laclede G 5%a52.. 5 ToulsvG &EEs62. 9 Wanat! fne «f 7%s. 6 M14.Con 8% 40, l: Viontana Pow 5 ‘Mor’s & Co 1st 4%s 10 New Fine Tel b8 2 ST TAtenn 6348, N Y Tel 4%s. Nor Ohion T &L ‘Nor States Pow b Public Service 8 Pub Serv Elec 6s PServGas5%s69. 1 Sales. High. Low. 3:10. 4 106 104% 104% 6 108 108 108 94% 106% 107% 7% 84% 101% % 111% 100% Y% 101% 100 104% 103% . 1 Westn Union 6%4s. Westinghouse ?u. . ;f Willys-Ové%s3s. 8 Wilson& Co 1st 6s. 7 ‘Winchester A 7%s. 10 Youngstn S& T 6s. 51 108% RAILROAD. % | Ann Arbor 4s. At] & Dan 1st 48 B&O goid B & O Toledo 4s. Bklyn Manhat Can Nat 4%s 0., Can Nat 43s54... Canad North 6% Canad Pac d 13 4 ChiB&QIistrfbs. 11 Chi&ETgn6s....280 Chi Great West 4s. CM&StP4s 25 C M&St P 4s 26 CM&StP deb 43 cf! CM&StPcvis. 6 CM&SPev4 1 s32cts CM&StPrf dKs. CM&StP r 4143 of1¢ :{#&gerevn B cvhscfs 14 CM&St P 6 # Chi & NW gn 3148, 103% 102% 102% 103% \103% 6% 9514 99 7% 17 104 a0y Te! & Find ov 55 35.128 Del & Hud 6%s.... 1 Ten & Rio G on D& RI0G impbs.. D Rio G West bs. . Frrfe conv 4s D. Frie conv ext 7s. Frie & Jersey 6s Erie Genessee R 6s Fla BC fn 74, Gr Trunkstab Find & Man af Bs.. MCen4sfs...... 1 T Central rf 68 66. 6 T Central 5 %: 2 TMN-C-C STL.&N( Tnt Rap Tran 6s. .. Tnt Rap Tr bs stpd. Tnt Rap Tran @s. .. Tnt Ran Tran 7s. Tnt & G Nor ad 8 Tnt Rva C A 6= 72, Kan Citv FtSds. .. Kansas City 8 5 Ran Citv Termds. 3 T.ake Shore 4n 28.. 8 T.ehtoh Val en o 85 = -3 Louls & Nash & Louls & Nash 7s Man Rv 1at 90 Man Ry 2d 4s 2013. Market St 75 40. .. MIIE'Ry & T. MStP&SSM 848 MK A& Tistds.... MK&T4sB. M¥ & Tadlb 21 MK&TrrinbsA. 12 L3 NAORNN® B Mo Pac 6s 49 D. Mo Pac 6s 68 B Nassau B Rv 48 67, NOTex&MFsB. 22 NOT&ME%S.... 9 NYCen ren3%s.. 10 NYCentdebis... 5 NYCrfim4%si3 26 NYCentribs.... 72 N ¥ Cent deah 1 1 NYC& StLdb4s.. 5 NYOChI&S!T, fiisA. 10 NYChI&StL 5%sB. 7 NYC&StLeésA. 2 New Hav deb 43 66. 8 New fiavenca6s.. 6 127 1 NYStateRy 6%s 62 NY W& Ros4%s. 71 Northern Pac 3s. Northern Pac ds. .. Nor Pac 414 2047. 1 Northern Pacr 1 8s Ore & Calif 1st 6s.. Ore Short L rfs 4s. Ore Wash 1st 48 ‘Pennsyl con 4% Pennsy] zen 4% Pennsy! gen Pennsyl bs 64 Pennsyl 6% Pennsyl eold Pere Marq 1st bs.. PCC&StL5sBTS Port RL & P 58 42. Por RL&P6s47.. Rio G W 1st 4s. StL S Wecon 4s 33. St P & KCShL 4%s St P Un Dep b San A & Arn P 4 Seaboard AL 4s sta. Whel& LErf i%s ‘Wisconsin Cent ¢s. DIVIDEND IS EXPECTED. NEW YORK, November 4 ().— Current high levels around §115, at 82 e which Reynolds Tobacco “B” stock is selling, is attributed in the street to expectations of a stock dividendpf about 25 per cent. \‘ DEALINGS HEAVY IN BOND MARKET Wide Fluctuations Charac- terize Movements, Espe- cially in Foreign Issues. B¥ GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, November 4.—FHeavy trading and unus y wide fluctua tions, especially in the foreign group. characterized today's dealings in tho bond market. The two which interest centered eign loans and the C: Initial advances in both were ver: sharp, but all the gains were not held and prices receded, in part at least, under the consequent profit-taking sales. The leaders today were the B>lgian 6 per cent bonds of 1955. They had closed yesterday at 8814, which was within a quarter of a point of the record high for all time. T opened today with a block of $120,000 par value at 90, up a point and thre quarters, higher than they have ever sold before, with the next e at 901, Then the bonds were freely offered and a point of the gain was od ‘The two Belgian 7 per cent on the other hand. did not continue the advance of the past ihree days. The new stabi| back below 98, from the hich of the day before, and the older 7s fluctuated within a narrow range around 08, In the French list the Do Lyons and Marseille 65 had the lar est opening rise. Until today the 198 record for these three ranced between 91% for the Bordeaux bonds 3 for the Marseille. All tl @ half hour were selling onl; tion below the record of 1920. 7 % tablished 4 new high fc partment of the S a large block at the preceding close of 947, new 1926 top. Here, too, ther reactions later. Early strength in th w York City tractions was ma ined only in part. Interboro refunding 5s, Interhoro 6 per cent notes, Third Avenue adjustment 5s and New York lway income 6s were all, at one time or another, frac- tionally higher. Good investment buving for Brooklyn Manhattan 6s son and Manhattan refundin for the same corporations in bonds. Tllustrating the marke: tivity, sales of all classes of honds dur- ing the first hour were of a par value of $5,055,000 against $3.900.000 in the same period of the preceding ¢ The feature among the spec rails was Denver and Rio ‘Western General under heavy to a new high, forecasting the initiation of in terest payments. Dealings in this bond almost monopolized attention in this part of the list. Ci go and Eastern Illinois 5s advanced to 80, their best price in the p: two years, reflecting better earnings from the im« provement in the soft coal trade. ppeared for Hud New Bond Issues Special Dispatch to The Star. NEW YORK, November 4.—The second Stinnes issue was offered today by the banking group headed by 1 sey, Stuart & Co. and A. G. Becker & Co. ‘This offering c ot $12,500,000 Hugo Stinnes Corporation 7 per cent gold notes, due October 1, 1936, and priced at 99% and interest. A syndicate made up of Howe, Snow & Bertles, Redmond & Co. and Ames Emerich announce sale of a new issue of 500,000 Protestant church in Germany welfare institu- tions 7 per cent goid bonds maturing October 1, 1946. ‘The bonds were offered at 98 to vleld about 7.19 per cent. The pro- ceeds of the loan will be reloaned to Protestant welfare institutions, asso- clations, parishes nd synods throughout Germa ainst first mortgages on property. The bankers announced that the 1e had been oversubscribed and the books closed. G. L. Ohrstrom & Co. are offering a new issue of $1,000,000 in convert- ible 5% per cent al notes with stock purchase warrants of the Peo- ple's Light and Power Corporation. The notes are offered at 99.28 for $500,000 December 15, 1927, to vield 5.95 per cent, and at 98.65 for $500,000 maturing December 15, 1928, to yield 5.95 per cent. P '\ WHEAT GOES DOWN AFTER EARLY CLIMB Good Crop News From Argentina and British Coal Strike Re- ports Are Bearish. By the Associated Press. CHICAGO, November prices took a quick downward swing today after a slight initial upturn. Favorable crop reports from Argen- tina, together with advices that thers is little prospect for imme« tlement of the British coal stri a bearish effect. Starting unchanged to % higher, wheat underwent i material setback all around. Corn and oats went lower with wheat, corn opening % to % up and then show- ing a drop. Provisions were firmer. Advices at hand today sald cutting of new wheat in Santa Fe and Cor- dova provinces, Argentina, will begin about November 12, within a few days after that date cutting is expected to be general in other districts where the acreage Is important, and will steadil #dvance southward until finished around January 1 in the Province of Buenos Alres. Ideal weather was reported today as prevailing in the Argent'ne wheat harvest region. Meanwhil trade gossip was current that Europe at present is depending chiefly on Argen- tina for prospective supplies—high freight rates from North America be. ing a handicap, and Austraiia being too far away. On the other hana, leading crop authorities here voiced a bellef today that notwithstanding present favorable weather the wheat crop in ndrthern Argentina will prove helow normal in volume. WHEAT— Pocembe b 4.—Wheat 1 1 1 087 1.03% FIRM IS DISSOLVED. NEW YORK, November 4 (#).— Dissolution of the Edmunds & Jones Corporation has been approved by stockholders under the plan to trans- fer the company’s assets to the C. M. Hall Lamp Co. RUBBER ADVANCES. NEW YORK, November 4 (Special). ~—Crude rubber smoked ribbed sheets advanced % at today’s noon quotation of 42% cents. This compares with 43% cents a month ago and 96 cents & year ago.