Evening Star Newspaper, November 26, 1926, Page 14

14 FI ANCIA WASHINGTON, RIDAY, . NOVEMBER 26. 19 FINANCIAL TRENDISSTILL UP IN STOCK MARKET Individual Shares and Groups Score Advances—Under- ‘ene Is Good. BY STUART P. WEST. i Dispatch to The St NEW YORK. November 26.—Wall Strect resumed business after the Thanksgiving holiday in the same optimistic frame of mind in which it left off Wedn: The market fol- lowed along the same lines been doing for more than a week, that is with no gene: forward swing, but with adivances, some of them quite i lual stocks and groups Bpe.i for this buying was 3 her than in gen- i1, conditions. Still underlying all these group movements was a uiet feeling of security that with dit nditions the way they are and seem likely to be for an indefinite time to come, and with the market is in a s t exploit to the full the possibilities of fnerease in individual valuation. Greater New York tractions, sugar s, railway equipment, and a num- of unattached industrials, stood as the prominent featares of the Ordinarily reading of the la arding the plan for un ion of private and public transit m in New York C incentive her till the existing com to couperate with in the financial <picious for the t of the problem. | igth of this @ securities, hoth hond were cagerly ght. The pal advinee in the traction share Iyn Manhattan, moditied not | nd stocks take a zood start, but lh(’! 2 and in the | prices yose again. South Porto Rico Sugar had another spe Jar jump following stimate put out that with raw cents a pou i $10 o Zar ; droppe W time s n wore than recovered the hile the advanc in tively resumed t in Mack Trucks “. The stock had Wedne It this morning and Whove 101 before enough appeared o | also went on in moderate wav in Hudson andj Studebaker. Pierce-Arrow W higher. Nothing new about the m tor industry developed over the holi- | davs, but contid was tha se ional vevi would | oceur 1t cour: another nth. i <hipping stocks were in demand, { pecially | American International and Mnternational Mercantile Marine preferred. lu as much as authentic information is only given out once ) tuations in the carnings | ot th compin are mostly a matter of conjecture. Cuyamel took quite a tumble on the sugges Gion that the dividends might be| passed in order to facilitate new nancins. i i sl Aspnaly dang Wennlipal were the leaders of the had to Cuba Cane s to check the What Le short coveringz expressed | 1 | NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Adv Rumley. Ad Rumley »f( | Ahumada (11 Alr Reductn (16) Afax Rubber. Allled Chem (4). AllfedCm pt (7). | Allis Chaim (6) . i Amal Leather. ., | Amerada (2).... | Am Agricul Chm | Am Aerienpe, . i Am Bk Note (3, | Am Beet Sugar. | Am Beet Sug pf. | A\m Bosch Am Brake Sh(6) Am Br Bov EI(2" | Am Br Bo pt (7) Am Can (2) | Am Car&ray (6) I Adams Exp (6). it hasj Am Chain A (2). Chicle (3).. Am Drug....... Am Expiess (8). Am & For Pow. Am Hide & Lea. Am Hide & L pf. Am Ho P (2.40). Am Internatl. .. Am La Fr (1) Am Linseed Am Linsad p! Am Locomot (8) Am Loco pf (7). Am Plano pf (7) Am Po&Lt (g1). Am Radfator(5). Am Republic. .. Am Ship & Com. Am Smelting (8) AmS& Rpf (7) Am Snuff (12). . Am Stl Fdys (3) Am Sugar (5)... Am Sumatra. | Am Tel & Tel(9) Am Tobacco (8). Am Tobac B (8) Am Wa Wp c1.20 Am Woolen....... Am Wool pf (7). Am Zinc pf..... Anaconda (3)... Arch-Dan pf (7) Armour 111 p£(7) Armour of T11(A, Armour of 111(B} Arnold Cons&Co Artloom (3).... Artloom pf (7) Asso Dry G(2%) Asso Ol ($2.80). Atchison (7). Atchison pf (5). At Birm & At. . Atlant C L (110) Atl Gulf & WI.. Atlantic Refing. | Atias Powdr(15) Austin-Nichols. Austin Nlc pf(7) Baldwin L (1).. | Bald Loco pf (7) Balto & Ohlo (8) Balto & Oh pf(4) 1arnsdall A (2). Bayuk Clgar. ... Belding Bros(3) Sethlehem Steel Beth Sti pf (7). Bloomingdale. .. RBooth Fisherles. Booih Fish 1st.. Eriggs Mfg (3). British Empire. | BKInEdison (8). | Blkn-Mn Tr (4). Bk-Man T pf(6) Bkin Un G(111). Brunswick Balk Brunswick Ter. Buff Roch&P (1) Burns Bro (10). Burns Br B (2). Burroughs (14). Bush Terminal Butte Cop (50¢). Butje&Super(2) Butterick (2)... Callf Packg(4).. Calif Petrol(2). | Callzhan Zinc Calumet & Ar(8) Can Dry (e2%). Can Pacific (10). Case Threshing. Case Thr pf (7). Markets at a Glanee || e Bald-, record high Riales Treas izn excharges Ally 10 points. Southern sell er spot offer SW YORK. Stocks 6 puints 1o United soars steady Jess st French bavely T francs steady Coffec Towe reports. ings Brazilia Wheat AG tenund return. CHT export huskir firme WO0OL TRADE ROSTON, November The I marke today without = price level holida Londo: been on ues, ax comi e, with and Awel repor down husines week have A slightl < of ember hlehem Stecl Corpo- to 70 per cent of per cent lust in Oc. Heav busin expected the close of the vear from dis- tribution of railroad equipment orders. o EARNINGS ARE SMALLER. NEW YORK. November Northern Pacific’s Octobs Were smaller than a v operating_income dec! 3,-| 665 from $4.094,711 and s revenues | to $10,201.216 m $i0, 3 . oper: wtion are dowr capacity, from § CHANGES IN PERSONNEL. | NEW YORK. November 26 (#).— R. E. Humphreys, manager of Whit- ing Refinery, has been elected a direc. tor of the Standard Oil Co. of Indian: and assistant general manager of it Jnanufacturing department, succeed- : Willam E. Warwick, and Beau- wont Parks, vice prestflent, was made zeneral manager of the manufactur-| ing department. ‘ 2 W BUILDERS ARE ACTIVE. | DETROIT, November 26 (Special) Contracts for new construction work 1 Michigan have been maintaining | fine volume and are running about | 500,000 ahead of the corresponding | period of 1925. Pontiac, Flint, Grand Rapids, Saginaw. Lansing and other industrial centers sod | showings. i = . PRICES ON PARIS BOURSE. PARIS, November 26 Prices were irregular on the Bourse today. Three per cent rentes. 50 francs 15 ntimes; exchange on London, 133 | ncs 92 centimes: 3 per cent loan, 55 | srancs 65 centimes. The dollar was | quoted at 27 franc centimes. | e | i NEW YORK MARKETS. i NEW YORK. November Ylour, firm; Spring patents, hard Winter straights, Cent Leather... Cent Leathr ctfs engLeather pt. Ce : Century Rib M.. Cerro De P (4) .. Certain-Teed(4) Chand-Cleve. . .. Chand-Cle pf(4) Ches & Oh (112) | Chi & Alton. Chi & Alton pf.. Chi Great West. Chi Gr West pf. Chi MU&SIP. ... | Chi MII&StP pf. C M&SUP ofs. | C M&SLP pf cfs. Chi & Nwn (4) .. Chi Pneu T (5). Chi R 1& Pac CRI&P pf (8). CRI&P (). Childs (32.40) | Cnile Cop (23%). Chrysler Corp(3 Cluett Peab (5). Cluet Pea 1f (7) Coca-Cola (7)... Col Fuel & Iron. Col Gas & El (5) | Col G&EL cfs (5) Col G & E pf (7) Col Gas new (5) Col G&E pf A(8) Col Com Cred (2)... Com Cr pf (1%). Court 1LV (3.60) . Com s0lv B (8). Congoleum-N. . Congress Cgr (3} Con Cigars (7).. Consol Distribut Consol Gas (6) . . ConRRCuba pf 8 onsoi Textile. . | Cont Bakg A (8) Cont Baking B.. Cont Bak pf (8). Cont Can (16).. Cont Insur (8).. Cont Mot (80¢) . Corn Prod(12%) Coty, Inc (15)... Crucible Stl (6) . Cuba Cane Sugat Cuba Cane Su pf Cuba Co (4).... Cuban-Am S (1) Cudahy (new). Cushman’s (8).. Cuyamel Fr (4). Davison Chem. . Del & Hud (9).. Del L & Wn (17) DRG WStpf... Detroit Ed (8).. Detroit Ed rts.. | Devoe&Ra(2.40) | Dodge Bros Cl A Doage pt (7). | Dome Mines (2) Doug Pec (2%). Du Pont (112). . Duquesne pf (7) Eastman (18)... Eaton Axle (2).. Eisenlohr & Bro. El AumLK('g‘&) Electric Boat. .. Elec Power & Lt EP&Lpf 40% (7) Elec P & L pf(7) Elec Refrig (c2) Elec Sto Bat(16) End-John (6) Engineers PubS Equitable pf (7) Erte R R. Ertelstpf...... Erie Stm S(2%) Eureka Vac (4). Fairbanks (3).. Famous P1 (J8). Famous pf (8).. FedLight(*1.40) Fed Mot T (f80c) firm; No. 2 Western. 1. York and 1.033% c.i.f. export. utures opened firm: domestic Bid: May. 144 Oihers “Wheat Decem- in- Fid Phoenix (6). Fifth Ave (64c). First Nat S(1%) Fisk Rubber. ... Open. 127 13% 46% 5 140% T 137 121% 87 16% 29% 13% 45% High. 129% 13% 46% 5 142% T4 1387 121% 87 17% 29% 13% 45% 45 217 62 17% 4 149% 39% 96 52% 104% 210 Low. 127 13% 6% 4% 140% % 135% 121% 87 16% 29% 13% 45% 44% 27 62 16% 149 38% 9 51% 102 25% 36 10 128% 174 8% 46% - 100% % 3815 16. 24y a8 87% 115 BTty 100t 65 161, 21 o9t 219 18 Close. 120% Fleischmn(12%) 13% 46% 4% 142% T% 138 121% 87 17% 29% 13% 45% 44% 27 62 17% 149 39% 96 52% 104% 25% 37 10% 129% 1% Bl 46% 26% a1 1% 32 T6% 109% 120% 102 62% 109% 48 6 134% 119% 133 44% 86% 4 119% 119 501 156% 100% 9% 210 38% 103% Foundation (8). Fox Film A (4). Freeport-Texa Gabriel Sn (3%) Gardner Motor. . Gen Am Tnk (3) Gen ATC pf (7). Gen Asphalt. ... Gen Asph pt (5). Gen Elec (h3)... Gen Elec sp (600 Gen Gas A(el%) jen Gas pfA(8). j Gen Gas (B)... Gen Motor(t11). Gen Mot pf (6).. Gen Mot pf(7).. Gen Outdr Ad(2) Gen Outdr A (4) Gen Ry Sig (16). Gimbel Brox Gimbl Br pt (7). Glidden (2)..... Gold Dust. Goodrich Ru (4) Gothm S H (2%) Gotham new 21 Gotham pf (7).. Gould Coupler A Granby Consol. . Grt North pf (6) Gt Nor Ore (1%) Grt Wstn Su (8) Green Canan Guantanamo. ... Gulf States (5). Hartman A (2).. Hartman B k4 40 Hayes Wh(13%) Helm Geo (16%) Houston Oil. ... Howe Sound (4). HudsonMan (2% Hudson Mo(3%) Hup Mot (1.40). 116 148y, | T11inois Cen (7. Indep O11 (1)... Indlan Mot (1%) Inland St (2%). Inspiration (2).. Interbor Rap Tr. Inteont! Rub(1). Internat Agrl... int Bus Ma (3).. Int Cement (4).. Int Com Eng (2) Int Harvstr(6).. Inter Har pf (7) IntMtch pf(3.20) Int Mer Marme, Int Mer Mar pf. Nickel (2).. int Paper (2)... Int Paper pf (7). Int Tel & Tel (6) lowa Central Jordan Motor... KCP& L 1st (7) n City South. Kan CSo pf (4). Kayser J (3).... | Isellv-Spring Kelsey Whl (6). Kennecott C (5) . tone T & R. aft Cheese. ... Kresze SS(1.20). Kresge Dept S. . Lago Oil & Tran. Lambert (3%) Lee Tire& Rub. . Lehlgh Val(3%) Leh&Rink stf(3) Life Savrs(1.60) Lig& M B (14). Lig & M pf (7) Lima Loco (4) .. Liq Carb (8.60) . Loew’s Inc (13). EORE.... e Long Bell A (4). Loose Wiles. .. Loose W 2d (7). Lorillard (§2)... Lorillard pt (7). Loutstana Ofl. . . LoulsGasA (1.76) Lou&Nash(16%) Mack Trucks (6) Mackay (7) Macy H R & Co. Magma Cop (3). Mallison & Co... Manati Sugar. Manat! Sugar pf Man El m g (D5) | Maracatbo O11. | Martuna o1t (4 Marland Oll rt May Dept St (8). Maytag Co (2).. MetroG pf(1.89) | Mexican Seabd. . Mtami Cop (1) Mtd-Continent. | Middle States. .. Mid States Ofl et Miller Rub (2).. M St P & SSM pf Mis Kan & Tex | MoK & T pf (8). Missourt Pacific. Missourl Pac pf. Montana Pow (6) Montgmry W(4) Moon Mot (1%). Mothr Lode(75¢) Motor Wh (2).. Murray Body ctf Nash Mot (13).. Natl Acme Nat Bisoult $6% Nat Biscu pf (7) Nat Cash R(A)3. Nat Cloak & Sult Nat Dairy (8). Nat Dpt Stores. . at Distillers. .. at Distillers pf at Enamel & S. at Lead (8) t Lead pf (7). t Pw&Lt(80c) Nat Ry Mex 2d. at Supply (4).. at Sup pf (7). Nevada Cop (1). Y Air Brake(2) Y Canners...... NY Canner pf(7) NY Central (7).. NY Chi&StL(11) NY Dock. ... NY NH & Hart.. NY On & West. . NY Rys part efs NY State Rys pf Niag F pf (1%). Norfolk South Norf & W (110). N Am(10% stk). North Am pf(8). NorAm Ed pf(7) North Pac (6). Norwalk Tir: Nunnally (1.50). 011 Well Sup (2) Omnibu . Onyx Hos (3.20) Orpheum Cir(2). Otis Elevator (8] Otis Steel....... Owens Bot (14). Pac Oil Stubs. .. 3% | Packard (12.80). 39 | | ! | Paige Mot(1.30). | Pan.Am (6. Pan-Am B ( Pan.AmWnB(2). Pathe Ex (c8)... Peerless Mot. ... Penick & Ford Pa Dixie Ct(80c) Pa Dix Ct pf (7). Penna R R (3%) Penn-Seab Steel. Peoples Gas (8). Pere Marq (18). Phila Co (4).... Phila Co pf ( Phila&RC&I. 88% | ppija&R C&I cfs 83% 67 22 125 | Philip Morris. .. Phillips Pet (3). Phoenix Hoslery Plerce-Arrow. ... 38% | plerce Ot 464 Pierce Perolm 24% | pirts Coal 9% Pitts Stl pf (7). 44 | Pitts & W Va(8) 17 123 42% 244 195 16% 29 17y Postum (5)..... Pressed Stl Prod-& Refiners Pub Serv NJ (2). Pullman Co (8). Punta Aleg Sug. Pure O1l (12%). Pure O pf () v | % 1384 123% 621 T35 39 36% 56 97 117% 1 14% 112% 43% 65% 44m 96 6% 624 o 62% 55% | 20 20% 0% 7 9% 5 20% 100 4 124% 64 55% 44% § 44 150% 147% 31% 125“ 110 86 49% 434% 42% 38 53 44% 23% Kl 4 34 100 116 100% 43% 33 189% 45% 2636 1% *ltnon @...... l’l’/|| BY EDWARD C. STONE. Today is the fifth and final day for the first installment payments, or complete payments, on the Washing- ton Gas Light Co.'s new offering of $1,500,000 “Serfes B" 10-year 6 per cent mortgage gold bonds, dated Octo- ber 1, 1926, and maturing on October 1. 1936, this being the issue which was recently so largely oversub: scribed. Accompanying the notice of allotments was the announcement that subscribers were given five days in which to begin payments, and as a result local banks and investment banking houses, as well as the com- pany’s headquarters, were kept very busy in receiving the funds and is- suing the receipts which were given in the flace of interim certificates and which will be taken up later when the new bonds are delivered. Those purchasing the bonds on the partial payment plan were today pay- ing 10 per cent of their face value, and the amount of the premium there- on. The balance is to be paid in nine equal installments on or before 15th of each month. The purchaser is given the right to make all the re- maining payments at one time should he so desire. The new bonds are being marketed 48 43% 58% 521 16% Purity Bak (A). Purity Bak (B). Radio Corp of A. Radlo C pf (3%) 48 4% 3 43 56% 52% 16% 90% 89% 19% 19% 451 41% 42 9% 55% 1194 8l | Real Sk Hos { Reld Ice Cm (3). | Replogle Steei. . Rep Ir & Stl (4). Rey Tobac B(6). Robt Rets & Co. . | Royal D (a3.078) | safety Cable (4) St Joseph (12).. StL & SanFr (7) StL&San F pf(6) St L Southwest. Savage Arms. .. Schulte Stor(§8) Seaboard Alr L. Seab Air L pf... Seagrave(el.20) Sears-R (n2%). Seneca Copper. . Shattuck F G(2) ShellT&Ta2.17% Shell Un (1.40). Shubert The (5) Simmons($2.26) Stmmons pf (7). 8imms Pet (1).. Sinclatr Ofl..... Sinclair pf (8).. Skelly 011 (2)... Sloss Sheff (6). . South Port S (6) So Porto R Srta. South Por pf(8). Sou Calif Ed (2) Sou Dairies A (4) Sou Dairies ... South Pac (8}... Southern Ry (7) Southern Ry rts South Ry pf (5). Spaulding pf (7) Spicer Mfg. | Std Gas & El g3. td G & El pf(4) Std Mill (6).... Std Ofl Cal 12% . | Std O NJ t1.12% Stand Ofl NJ rts. Std il NJ pt(7) Std Plate Glass. rling Pro (5. ewart War (6) tudebaker (5).. | Submarine Boat. Sun OI1 (11).... Superior Oll... . | Tenn Copper (1) Texas Co (3).... | Texas Co new(3) ! Tox Gulf Sul (4) | Tex & Pacific. .. Tex & Pac C & O Texas Ld Tr(8). The Falr (2.40). Third Avenue Timken (16). ... Tobac Prod (7). Tob Prod A (7). Transcont Ofl Underwood (4).. 47% 471 Un Bag& Paper. 42% 46 Union Carb (6) 6 97 52% 1637% 80 13 116% 1 54'% 541 A1 50 14% 960 1150 27% 2 5454 54% 517 B01g 14% 90 27 8974 804 10814 108% 113% 114% % 4 1150 27% 40 81% 162% 80 13 116% 957% 16274 58 1227 217 53% 54% T7% 109 59 58% 106% 5% 46 147% 128% 30 86 41 467 11 8644 33% 106% 11% 40% T4% 21% 112 314 90% 46% b5b% 58Y% 99% 12 21% 134 88% 16'% 32 26% 45% 257% 574% 231 b5% Kl 21% 9214 10 20% 192% 21 44 404 Un Pacific (10). Un Pacfic pf(4) . Un Tank Car(5). Un Tk Car pf(7) Utd Clgar 8 (c2) Utd Drug (8).... UtdDrg 1st(3%) United Frult (4) USCIP&F(10) U S Distributing U S Hoftn(13%). U S Ind Alcohol. U S Ind Al pf(7) U S Realty (4).. U S Rubber U S Rub 18t (3). U S Smelt (3%). USSmpf (3%). U S Steel (7).... U S Steel pf (7). Universal Pipe. . Univ Pipe pf (7) Vanadium (+4).. Vick Chemical. . Va-Caro Chem. . va-Car Ch pf(7) Vivadou (3).... vivadou pf (7) Vulean Detin. .. Wabash........ ‘Wabash pf A(5). waldorf (1%) .- ward C1A (8).. ward Baking B. ward Bak pf (7) Warner Bros. ... Warren Bros @ Weber (4)..-. west P Po pf (6) West Maryland. West Md 2d pf. . Westhse A B (T) We-unsg:;c ). Weston . Weston A (2).-- Wheel & L Erle. Wheel & L E pf. White Eagle (2) White Mot (4). . White Rock (12) White SM p£(4)- vickwire ctfs. o villys-Overla: Winys.0d pf (1) wilson & CO. ..« Wilson & Co(A). woolworth (16). Worthn Pump. . - Wortn Pump(A) Wortn Pump( |yt A g0y Yellow Tr < 99 7). 99 99 99 [T Tty 8 87 8wk | Hourly Sales on N. Y. Market. | { 396,500 o.s X l: :: 917,500 2 p.m. 1,189,700 ,—] s year——no regular rate. Ao ‘Siamon stock pavable C—Plus 5% 1n stocl D—Payable when earned. E——g:{:gl: in cash or stock. fus 2% % in stock. - jus 1/50 share in stock. H- lus $1 r share in special stock. [—Plus §% in stock. —Plus 2% in 8tock. —Pa\‘ah}: 1/40 of a share quarterly in | Class A stoc] i =] % im_stock. | ard the“anntial cash' payments based on the Prtest auarterly of half yearly declarations hfeas otherwise Boted. extra or special divi- dends 5. stock. BBy extra. _$Pavable in common stock.* tPlus 47 in_etock pay- *able i 1° |"2‘ Plus T sther guarte 4 % 8315 107 ! 11% | 40% | 4% 21% 112 30% 90% 46% 55% 58% 99% 12% 21% 1344 687% 16% 32 27% 45% 20% 57 24 55 % 21% 92% 10 20% 1984 21 44 40% 30% 2% 4% 21% 112 30t 90% 45 55 b58% 99% 12 21% 134 68% 16% 32 26% 45% 25% 663 23% o5 % 21% 92% 10 20% 192% 20% 44 40 30% 27% 24 % 21% 92% 10 20% 194% 21 a4 40% 307 30% 27% 28% 2% %. TODAY IS DEADLINE ON PAYING FIRST GAS BOND INSTALLMENT| Initial Payment on Allotments Is Due and Banks and Local Investment Houses Are Kept Busy. { comparing with §18,601,259, mitted to New York Stoc i the {and Harry V. Haynes, new member {change in the constitution made at {a special meeting in October. ,#{ the city on Thanksgivin, ! desks again today. | of a possible increase in the B. & O. | the disbursement was only | raised from & to 6 per cent. i jation was $1,472,064 against $851,596. at 101 and accrued interest. The popu-! larity of the issue is shown by the| heavy oversubscription on bonds| priced above par. Local Stock Hits New High Mark. Federal-American Co. common reached another new high mark on the Washington Stock Exchange to- day, the recently listed issue chang- ing hands at 32% on a turnover of 50 shares. Potomac Electric Power preferred. selling_ex dividend, was strong at 108. Fifty shares of National Mort- gage and investment preferred sold at 8, a fractional gain over the la: transaction. One bank stock ap- peared on the board, 10 shares of Washington Loan and Trust Co. sell- ing at 478 and 10 more at 479. The bond market was quiet, Georgetown Gas s selling at 98% and Washington Gas 6s at 102%. Christmas Club Drive to Open. The District Bankers’ Association’s Christmas Club co-operative cam- paign for 1927 will be started ne: Monday, November 29, when the fir advertisement will appear in the Washington newspapers. The ad vantages of joining some local bank’s Christmas savings club will be pre- sented in this manner at regular in- tervals to and including January 15, 1927. The Christmas savin idea has gained such a grip on popu- lar fancy in the Capital that the bankers expect to see the present campaign result in the break of all previous records. The cam@aign has been so timed that it will be get-y ting under way just as the money in this year's clubs is being distrib uted, so that considerable of this may be turned back into the news clubs; there being more than 000,000 available for present members to use as they see fit. Theater Party Assured Success. T. Hunton Leith, president of Wash- ington Chapter, and Raymond P. Lochte, chairman of the institute’s an- nual theater party, report that the ad- vance sale of seats for next Monday's ormance of “The Passing Show of " at Poli’s assures generous funds for the institute’s educational pro- gram. The heavy expenses have al- ready been covered and all the seats now sold will brinz in clear profits fo the chapter. There are still some ex cellent seats left, although the sale has | been v large. The members of the committee say that while the at- traction is complete in every detail, they have arranged for some addition- al local color,which will prove decided- 1y interesting. Southern Earnimgs Fall Off. The Southern Railway system re- ports smaller earnings for October than a year ago, gross of $1 1480, nd net operating income, $4,664,730, and net | §$5,006,656. Net for the 10 months was $316,072 larger than the same period of 192 Southern Dairies Reports. Statement of Southern Dairie and subsidiaries for nine month: ended September 80, 1926, as Exchange shows net profit of $815,193 after de preciation, int and Federal taxes Stock outstanding amounted to | 130000 no par shares of class A pa ticipating common stock and 235,000 | no par shares of class B common ock. Consolidated nine months for | 30, 10 ance, | total | income account ended September 1926, follows: Net saled $5 expenses, et $7,390.65 $1.482,153; other income, $14 income, $1.496,403; depreciation and | interest, '$613,710; ostimated Federal taxes. $37.500: net profit, $815.193 Council Meets This Afternoon. The Council of Administration of | District ~ Bankers' Association | meets this afternoon at hexdquarters for the transaction of routine bus ness. It will he the first time that Francis G. Addison, jr., immediate | past president of ‘the association, of the executive council of the na- tional association, will attend a members, in accordance with a Other Financial Notes. 1§ Many local bankers were out of | day, but at their most of them were back Wall street reports further hints ! dividend in spite of the that { recently | Public Utilities NEW YORK, November 26 (Special). | —The October earni statement of the Penn-Ohio s: showed gross of $1,118,847 ared with $970,513 in October a year and | balance after taxes and charges, but| before depreciation of $187,826 against $86,613. For the 12 months gro | $12,450,919, compared with §11,091,510 in the previous year and baldnce after taxes and charges, but before depreci- The Fitkin Utility System in Flor- ida has been extended by the purchase of three power companies and, upon completion of construction work now | under way, will serve, through a new | operating” ‘company, a territory 300 miles long by 150 miles wide, from St. Petersburg north to the Georgia line, according to announcement made to. day. The new company, the Florida Power Corporation, represents the consolidation of Pinellas County Pow- er Co., Florida Power Corporation ang Central Florida Power Co. POTATO HAR.KE&‘ STfiADY. CHICAGO, November 26 (#).—Po- tatoes—Receipts, 82 cars; on track, 339 cars; total U shipments Wead: nesday, 467 cars; yesterday, 141 cars: trading slow, market steady; Wiscon- sin sacked round whites, 2.25a2.50 mostly, 2.35a2.45; occasional higher- Minnesota sacked, round whites, 2 2.35. e BANK WILL MERGE. NEW YORK, November P — Stockholders of the Irving Bank and Trust Co. have approved consolidation with the American Exchange Bunk and Trust Co., which is expected to have the new title of American Fx. change Irving Trust Co. after D cember 11. SILVER QUOTATIONS. NEW YORK, November 26 (&) Bar silver, 542; Mexican dollars, 41%. FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sous. Closing ) Approx Rate—Maturit Bid. ) Asked:"Vion otree. . 100% A0oi el 100 F R|]RSS22% 555 3338225535555 e { Rriar FT St 1st 514 Received by Private Wire Direct to The Star Office. UNITED STATES. (Sales are In $1.000.) Sales. High. 100 13 102 23 100 26 1018 103 5 102 22 105 26 Lib3¥%s. Lib 1st 4 Lib2a4y Lib 2d 434s. Lib 4th 4%s 517 US3%s .. 155 US 451944, 180 US4%s52. 207 1 10 101 103 102 105 109 FOREIGN. Sales. High. Low. Close. Argentine6s. ... Argentine 6s Ja 59 Argentine G= Oct59 Argentine 65 A. Argentine 6s B. Argentine 7s. Australian 5s. ArstriaTs Ll ank of Chile 6% ARk of Tapan 6s. Belztum 6s Relefum 6%8. Reletum 7a. . Belgium 7s ct. Felelum 734s. Zelefnm 88 Bolivia 8. Fordeaux 6s. Prazil 6%s Rrazil 7s. Rrazfl 8s. Canada 55 1931, Canada 5s 1952 Canadn 5% 19 Chile 78 1943 hile 8= 1941 Chile 8= 1946 Con Pow Tapan “onenharen % | C7achio T168 rots, Czecho Rs 1951. ... ‘7e=ho 8< 1952 ct. . Danish Mante 83 A. Danish Munte 8s B. Nenmiprk be. ... DFET5%s Mch 53, N ¥ In 510 Nov 53 Dutch Fast T 6s 47. Duteh Fast T 6«62, 1 Satvador 8s 48 Finland s £ 8s 45. Tnland 78 Pramerfcan 7 French Ta. .. French Ti%s. Wrench Rs. . German F1 P 8%s Serman 7s. . Ger Aer Rank 7s. “ar Gen Klee Ts. Oreek 7s. Falti6s. ...... ¥ ~lland-Amer 6s. nincary T%s., . Ttaly 7a.. Tonanese 4s. ananese §14a T.von8s. ... Marce'a Re. . Mexleo 45 04 asntd. Mexieo 4< 10 acntd Vevicn Sencsents “fontevideo Ts. .. . Tetharlands As 54 “etherlands 6s 72 Nend Rl Norway 514« Norwav 6 1943 Norwav fe 1044 Norwav 6s 1052 Oriant Dev deh fs. Parfe-T,v-Med 6 . Parfs-T.v-Med 7 Prls Orleans 7s ParnTi4g. ..., Poland 6 40. .. Taland ts Porto Alacre s, Pragne 7. . Oueensland s Queensland 7s Phinehe TTn 7a. . Sao Panlo 1950, Sefne 7e 42 . Sarbs Crot S15 8 Sntccone R, Swaden 516< et Sweden fa. Swiss 5ls 1948 Swiss Confed e Taho Flec Pow 7s. Tokio 5s. ... ™d Kinem § ™d Kingm 37 i Trrnenay 8 Tokohama < w | MISCELLAM 1 ttay Pyiher xg Am Aert Cham 7igs Am Cotton O 5s Am Smit & R 1st 5y Am Smit& RAs... A Suear ref 6s. AmT & Toltrda . Am T & Tel tr5e. . AMT& Tafs Am T & T deh 51 Am Water Wks 5s. Anaconda 1st fs Anaconda cv ab 7s Andes Cn 7s rets Armour&Co 414 vt Armour De! 5%a. . Associated O1 6=, . Barnsdall Rs otfe Tell Tell Pa fs B “ath Steel nm s Tath Steel rf 5a. . Feth Steel 5145 53. Reth Steal 6 Tkivn P men 5s. . Bash T Ride 55 60. “H1if Pete f14s. Cen Leath 63 45 o ~hile Conner 6332, ol Gas R T e ol Gas & Tl fs sta Fommonwith P 6s. Fon Coal M 1st 5. Com Gas NV 5%s ~onsnmers Pow Bs. Cuha Cane v 74 Cnba Cane cv 8a. | Cuban Am Sug Nery (D G) s Det Fdison 5s 40. Det Fdison ref 6s.. Dodze wifs. .. Duq T, & P 5%s 4 Nunuesne Light 8s 13 14 27 14 15 1 11 g0 1 3 70 2 12 2 3t 20 21 79 19 ° 1 0% 984 8% 98% 984 100% a8, Low. 100 10 102 21 100 22 Close. 10013 102 28 100 26 5 1016 2 1034 19 20 21 894 10222 105 26 110 “0% 9T% 97% 98% 98% 100% 97 101% 26 100% 20% 95% 987 99 110% 107% 103% 9214 894 4% 103% 101% 104% 101% 1004 108 1084 97t Q0% 104% 104 104 m 110% & 101% agre 118= 10454 10915 97 FOUS 105 1007 a4 10115 108 1043 1134 101 " aa 1028 107% 107% 9214 s 102% 42 a0 A 15 [ 10 kR oo 18 10 o et Cuba S 748, 3 Fmpire ? & F T8, Wiek Rubher 8s. ... Goodrich Bls. . Snodvear 8s 1941 Horchav 5148 Hoe & Co 616s.... 1mble O & R 514 inois Bell 1st 5s. Minois Steel 4%s.. 1 102 ag 1004 6% 10116 10214 1041 100 104 101% 1057% 10015 100 1041 R11 1055 105 1028 0% 4 10214 107% 9514 105% 105% 1075 1041 115% 4 106% int Mer Marine 8s. 1585 94% Int Paner 68 47. Tnt Paper 8s.. {Int T & T 5%s. Kan CP&T, §s A 52. Kan G & B 6552 *ally-Spring 8s. Tackawa S 5550... “aclede € 5%s 62. . Lipeett & Mvers 58 Viecett & Myers s Manatt Sne sf 748, M1d.Con 63%s 40. Midvale Steel bs. Montana Pow 6s. Mor'e & Co 1st 418 Nat Tube 1st s New Eng Tel 5s. ¥ ¥ Faison bs 44 T FAison 6%s. NYGELH&P 8. NYCGELHEP 58, N Y Tel 4%s. NY Tel6s4l...... NY Tel6s49...... North Am EA 8s. or Ohio T & L 68. or States Pow 5s. Nor States Pow 6. vac Gas & B b8 Pac T & T 16t Pac T & T 68 52 Pan-Amer Pete Phila Co 513 38. ©ohila & RAC & 158 Plerce-Arrow 8s... Public Service 8s Pub Serv Elec 8s. P Serv Gas %859, P Serv Gas 5%s 64. Punta Alegre 7i Remingtn Arm <haron St1 H 8s. Sinelair Of) Sinclair O] 6% 5 L 16 26 12 34 7 12 0o B 0 = R 20 9T 121 101% 97% 10214 1034 98 80y o7 8915 109% 10214 1054 104 98% 104 102 4 121% 100% 104% 96% 1015 86 103% 10215 103t 115% 1% 105% 98% 1084 110 1055 954 100 105% 100 1024 % 1014 10414 1014 1024 108% 1037% 106% 104% 104% 11 94 108% 101% 101% 1031 103t 106% 91 100 o8 ' | Sinclair Ofl7s..... 4 | Sin Crude Ol 6s... 25 Sin Pipe Lne 6s.... 29 So Por Rico Sug 7s. 1 Bouthwest Bell 6s. 2 Tenn Elec Pow 12 Toledo Edn 1st 4 United Drug o U S Rub 1strf6s.. 10 U S Rub 7%s 2 U S Steel f £s. 26 Utah Pow & Lt 17 Vertientes Sug Warner Sug 7s rner Sug 7s 41. West Elec 5s. Westn Union 634 Westinghouse 5 Willys-Ov 638 Wilson & Co 1st Winchester A 7%s Youngstn S& T Atchison adj 4s.... 1 Atchison gen ¢s. 4 Atlantic C 1, 1st 4s. 11 AtlanticCL 7s.... At1& Dan 2d 4s48. 6 B&O gold 4s. B&OPLEWV 4s.. 1 B&OSwDIvsscfs 1| B & O Toledo 33 BKIyn Manhat 6s. . 258 Can Nat 4345 30. ., 1 Can Nat 4%s54... g Canada South 5s. ., Can Nor 4%8 1935.. 10 Canad North 7s 3 Canad Pacdebds.. 5 Car Clinch&0 6352, 9 Cent of Ga 5%s. Centof Ga@s. ... . Cent Pac 1st §s 90 Ches& O cv 414 Ches & O gn 414, “hi & Alton 3s. Ch1 & Alton 8144, .. 4 ChIR&Q en4s53. CRiB & Qlst rf bs. Th&ETenbs.... Ch! Great West 4s. CMRStP4s2s. .. C M&St P 4a 25 ofs CM&SEP deb 43 cfs CM&StPgnsy 15 12 12 55 11 TM&SPov4 % s3zots g; CM&StPehays 3 CM&StPre4ys, 20 CM&StPevss. .. 32 CM&SP cv fsofs 14116 :h\f &StPes..... 38 1& NW een 4a.. 10 ThI&NW 4591987, 5 Ch&NW7s...... 2 “h! Pva e, &y THIR TR Py 28 CMTHESE 36 Chi T H tne 23 il Sta Y., 4 “hi Tnion Sta 5 44 6 Chi Unfon Sta 614 R WTRYags. COORSEY, 4%s CC&StLSBs..... A StLrf6sA. 0 0 & Sou 4%s. ., Cuba R RT3 fuba NR6s6S. ... Del & Hud 19t re 49 el & HnAee Ba 38, Del & Hnd 5%s. Ten & Rin G on 4s. D& Rio G imn 5. . D Rio G West bs Det United 4% s Tirie 1st cons 4s Trie een 4. 4 Trie conv 4s A | T'rte conv 4s B Prieconv4sD.. Firia conv ext 7s. Frie & Jersey s Firfe Genesseo R 8s T M ORaT4. ., | crand Trank 7s. Gt Nor 4%4s 76 D Creat North bs. “r Nor ven 7s. CGreen D & W ab B. FInA & Man ref 3. Hnd & Man af fs.. 11 Central ref 4s. . 60.. 12 = o (20900 Tt = s n3o2RBeab<Onald 2 %190+ 28 24 ™t Ran Tran By, ¢ nt Ran Tr 5wstnd § it Rap Tran &s ™nt Pan Tran 7s Tnt & @ Nor 1st 6s. Tnt &G Nor ad s Tnt Ren C Am 8s 41. i Towa Cent rf 4 an Cltv T S 49 Kansas City S 3a Kansas Citv S 5s. . <an City Term ds. ke Shore 43 28.. T.ake Shore 4231 Lehich Valen 4a. . Lehizh Val Gs 2008 Tons & N uni 4s. L& N 41452008 f.onls & Nash 514 T.onts & Nash Ts. Man Rv tat 9 Man Ry 24 4« Warket St 7 N Ry & Y M St PESSM on Bs MStP&S|IM §Y%s MRW&T st 43, MK&T4sB M ¥ & Tadl5n 5 MRK&TorinSsA. MR&TB«C. .. Mo Pactfic zan 4 Mo Pne £ 1985 . o Pac fs 49 D. o Puc 6455 B. Nassau F! Rv 4s 57, 3 N O Tex & M 6« B. NOT&MS5%s. 'Y Cen gen 3% N Y Cent 45 98.. NVYCrfimdiks1s NV Centribs.... N Y Cent deb 8s. . . NYChi&StL 51%sB. NYC&StL6sA. New Hav deb 4s 57 New Hovenc 4 6s. . N Havg&H cit 6s 40. S Y Ont W ist 4s Y O&W gen 48 55. N Y Rys 83 65, N Y Rys fs A /5 N Y W & Bos 4%s. Nor & S een 53 54 Norfolk & W cn 4s. Northern Pac Northern Pac 4s Nor Pac 415 2047 Northern Pacr 1 6s Ore & Callf 1st Bs.. Ore Short L rfs 4s. Ore Wash 1st 4s. .. Pennsyl con 4% Pennsyl gen 4%8. Pennsy! gen 5s. Pennsyl 65 64 Pennsyl 6%s. Sennev! eold 7a. Peo & F 1st 45 40. . PCC&StLESA PCC&StL5sB TS | Por RL & P 6 47. Reading gen 4% Reading J C 4351 Rio G W 1st 48, Rio G West of RI1Ark &L 4% St L IM&S 48 29, St L IM&S R&G & |stLesFplisA. StL&SFoprin FE%s F adj St L8 W con 4s 32. StP& KCShL 4%s 6 San A & Arn P 4 Seaboard A L 4s Seaboard AL 4s sta Seab A L ref 4 Seab A L ad) bs. Seab A L con 6 Seab All Fla Sou Pac 4s 2! Sou Pacific ref 4 28 Southern Ry gen 4s 2 Sou Ry conbs94... 1 SouRy #s56,...... < 97 100% 92% 109 103 106% 108% 107 95% 106% 106% 98 98% 64% 864 102 112 101% 101% 101% 104% 103% RAILROAD. 87% 92% 94y 2 104% T1% 96% 100% 92% 109 103 105% 108 107 95 106% 108% 97 98 63% 86% 101% 111% 101 101% 1014 104% 108% 8% 92% 94% 104% 0% 92% 97 99% 99% 104% 102% 107% 92% 101% 81% Sales. High. Low. Close. 96% 100% 92% 109 103 106% 108% 107 95% 106% 106% 98 98Y% 63% 8634 102 11% 101 101% 101% 104% 103% 102% 101% 99 804 689 Bty 56 55 5% 56t 5% 95 57% 55% 55% i 104% RRY A 103% 4 1067 72% 02 a3% 267 98Y, 102 118% 104 99% 10215 103 6% 108 978 uv 15 Tin TaM 6% [0, 5 10716 i 15 97% 1055 107 104 102% 68% 105% 1024 7% 1% 291 R4, 79% 8% 93 65% 90% 94% 18 1004 98 87 101% 98% h 106% 86 107% 1 102% 12 106% oan R 9% | Stuart & Co. 1024 | the near futu 10 70 " 8574 857 106 106% 10675 100 7% 2 o1% 83 944 a7y 934 4% 99Y, 102% 2914 93% 87 4% 2% 106% 100% 978, 92 9% 831% TRACTION [SSUES ' MARKET LEADERS Treasury Notes and I. M. M. Co. Bonds Also Are Strong in Today’s Trading. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, Nuvember 26.—Thrae features stood out in the trading in bonds at the resumption of business after the holiday. There wera first the great strength in the local tras tions; second, new high records United States Treasury notes, an third, the sudden run up in Inte tional Mercantile Marine Of these three movements, the mox onspicuous was the buying of the traction bonds. This was on a larg: scale and with sharper advances than at any time since the present upward swing was fnitiated. Practically a the securities of these companies sponded, but the leaders were the terboro bonds, the Third Avenue i< sues and the New York Railway in come 6s. New records for the 3 were set up in nearly all these bon Interboro s, which are secured by deposit of the refunding 3s. tou par, compared with Wednesday's close of 9813. Interboro 6s, the most junior of the company's obligations at 82 were up 2 points. Interboro re- funding 5s, stamped and unstamped crossed 78 in large volume. It was noticeable that the spread betweer the stamped and unstamped bonds steadily narrowed, until at one time the two were selling at the same | price. | Large buying orders in Third Av ue refunding 4s carried the quota 66 ang adjustment 5s abi ivance of over a poit v explanation of ail this ir st was Wall Streat's interpre | of the new transit plans, which w egarded favorable to existi | companie | The gains in the United | Government list were most | nounced in the Treasury 4%s and the Treasury 48, both of which sold new high records for all time. Later in the day the Treasury 3%s did the same. The market n have beer forecasting the success of the In cember 15 Treasury financi the day’s advances were the 1 markable because they of the rise of earlier in the week International Mercantile Marin: 6s, which provided the third featurc had closed on Wednesday at Sui They opened today at 84% and up above 92 before they met any in portant realizing. The Luyving cofn cided with the announcement that th directors of the company would mee in_special sesslon this afternoon. Slsewhere in the market French bonds were stronger, a few of thi high-grade railroad issues gained ground, one of them being Norfolk and Western consolidated ds, and there was activity and strength in certain convertible issues, includin: Consolidated Clgar €s and Californ! Petroleum 514s. States New Bond Issues NEW YORK. November | banking group, comprised of Hil Joiner & Co., Inc.; Halsey, Stuart Co..; Bonbright & Co., Old Colony Cor | poration and Tucker. Anthony & Co. 1t offers for sal T new jesue o uperior Distrie e and refund 26. first mort ing 5 per cent bond: | bonds mature Decemiber 1 are priced at 98 to vield over A new | per « | ford, ¥ issue of $1.57 improvement Londs of San a., is to be offercd by Hals and redge & Co. s, issu. purposes obligations of the for various constitute entire city. improvement general \WHEAT PRICES REACT AFTER EARLY CLIMB | Bullish News From Argentina Off- | set by Selling on Upturn Corn Values Firm By the Associated Press. | CHICAGO, November 26.— Report of stormy her in A ntina, de laying the harvest and causing cro | damage. brought zbout an early up {turn in wheat values today. Aective selling on the advance was met with however. and top figures failed to hol! well. Starting % to 1! up, wheat scored moderate further gains before beginning to react. ats and provisions were firm, corn opening a' 3 at % advance and subsequent holding near to initial figures, Besides news of general advers weather conditions In Argentina, rise in vessel rates from that count: was an additional factor which a times strengthened wheat prices he today. Higher freight tes fror Argentina, it was pointed out, wou naturally tend to curtail competitior with wheat from North America Moreover, some advices at hand froi { Buenos Aires indicated specifically likelihood that recent Argentina est mates of wheat yield would have to be reduced. General heavy rains in northern and western Argentina were noted by vari ous messages. There also was word of hail in parts of the Argentine whea country. Two leading crop expert trom Chicago, nevertheless, cabline from Buenos Afres and Caronel Su: ree, referred to the weather today | tavorable for the growing crops. WHEAT. Hign, 1.37% 1308 CALL MONEY FIRMER. NEW YORK, November 26 (#) Call money firmer; high, 5; low, ruling rate, 413; closing bid, 5. Tin- loans steady; mixed collateral, 60-% days, 4% 4-6 months, 48,. Prime me cantile paper, 4%a41;. B4% = 7% 9314 84% 99%; 102% 994 944 87 94% 2y . 88%_s8n 81 &0 2% 1% 6% 95% 98% 3% 85% 84% 107% 107% 127 1127 81 80 T2% 81% 96% 9544 98% 93% Southern Ry 6%4s.. 1 6119% SouRyMo&O4s.. 3 91% Term AssoS Li4s.. 11 87 TexArk FS 5%s50. 20 104% Texas & Pacific 1st 4 106% Third Ave ref 4s.. 193 65% Third Avead) 5s.. 385 6314 Tol Tr L&P6%530 5 99 Union Pac 1stds .. 2 941 Union Pac 1st rf 48.101 90 Union Pac 43 27... 3 9974 Unlon Pacific cv 6s. 29 1017% Virginia Ry 16 103% VaRy &P 5 5 99% ‘Wabash 2d bs. 10 101% Wabash 5%5 75.... 34 104 West Maryland 4 k3 Western Pacifio 5s. 29% 87 1 81 ‘Wisconsin Cent 48