Evening Star Newspaper, December 4, 1926, Page 15

FINANCIAL. GOOD MARKET SEEN FOR TURKEYS HERE Choicest Birds Expected to Bring as High Prices as at Thanksgiving. ‘NEW YORK CURB MARKET Received by Private Wire BY WILLIAM F. HEFFERNAN. | Special Dispateh to The Star. change was noted in the speculative character of the Curb Market trading cloging session of the week. important changes again e on the side of advance, but in number of instances the high prices realizing sales which carried some of the speculative favorites down from their highs of the present upturn. Interest again centered in the move- ment of the new Standard Oil bond Tocal poultr roaching Christ- Much, however, market during th mas holiday will gepend t is stated, coupl st for the time belng, and the latter dropped back to the subscription 4 with the question list of bonds and Elltring . 4 | Curb Market todhy Thanksgiving hol INDUSTRIALS. day season. this morning a dealer sugi WP n vie wi TS FEEF > of the pour worth buying. ock is not, B remarked a dealer, come in farge guantitie e ) Lea n A wi 1 Southiw pr 1 Turkey Prices Advane L N E pf. v ns0l G Ba n. S supplics and reasonable prices of rab- Y 23y F R PR - er B&S n_Corp. Invest Inc, .. s o ‘ = oG dressed hogs : nd and Virginia, and Prs tiful and cheay s past week or two, and | plentiful, is in de e remained practically i 5 o £ 17 98 1 8 ¥ 6 0 1 # almost glutted the market during the week end, the PO oot et Se s et baske:s and sa P for apples good fc ib R Ch_ Strs. . Mercantile St °C Mid West Ttil.. =3w choicest bringing”$1 Cider on Market. B & o e RS T e s e porne many farmers con- fruit into cider and dis. jong the mar- ntities rang- RSN =2 S posed of the beverage ling it in qu o=t X FREES 1 supplies of faney fruit from s ST P s PrEr Rt x5 b L ) S oSy Vegetables, Prudenc Co pfd. 16 . 5 ! and Kar Bur u. em Noisel TCA owers who large supplies on hand to offer the trade this morning. One item of interest to dealers was . small and tender, pre. appearance n the Spring, that found ready > cents and 21 3y Southw’ Bell pfd. 114 sold at from 4 cent rots that had by during the sold s by growers, 5 cents a bunch being the price quote St E <o a product of nearby dug and dried oDy ¢ offered at $1.75 and $2; sweet potatoes 5 a bushel or White potatoee from Michigan and New York were quoted at from SaZE! 18100 West D P vie B 15 v Ma.. 2 Today's Wholesale Prices. OIL STOCKS. able Report. EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. Extreme Diversification. sult of the facilities which have been provided for buying and ke it possible tice extreme ock Exchange is to m | for the investor to pra are of a listed stock The commission per It is just as to buy one sl it is to buy | shave is just the same. v to sell one share as i The cost is proportionately the The smaller order is executed some paoriy in this re- al advantage. There it one is inclined \ not take one share of stock in 10 diferent com- of 10 shares cystem works out o A No. 1, 1arge | ig no reason why \ccomplished. of buying securt $1§100 or of §1.000, but s | §700 to invest. stock selling at par with E rance that he can turn his | holdings into cash later on just as it he held 10 shares or 100 s in terms of pose one has Supplies moderate; Of course, an investment fund split square bushel cra is carrying into one-sh sification to an extreme. sum involved is in any way large, it means Keeping in touch with the af fairs of a great many different busi ‘The compensatior insurance against loss whi spreading out of the risk pur- some small ganizations. crates, white, 3.00a3.50 s in these uneven lots, seven | shares or whatnot, always Investment trans- small speculator buys or sells a minimum of 10 shares. ishes to trade in a larger amount, he increases his order by five shares or multiples of five. ConyTisht. Flortda. 7 b ity and cond: pound baskets hothouse stoc 2.75; small size, 1.7 ~d sixes, ripes, wrapped, §.00a - - THE Direct to The Star Office fizures of 97%. The New Jersey issue continued to be dealt in around the 102 level, but made no further prog- ress. A number of strong spots developed in the public utility group, special buying of American Gas and Electric carrying the price to 111 for a gain of almost 2 points from the previous final. American Light and Trdction had another of its characteristic run- ups, getting to 237 at one stage, where it compared with the Friday final of 2321, Gillette Safety Razor and DeForest Radio were responding to executions of favorable fourth-quarter results, and short covering ,following the re- cent decline in Serv-El Corporation ](‘:u'rlymg the price back across the § evel Synd. . Greole Cfimi ; jal ‘rown Cent Pete Gibson 01l Cor i 0 vec Enif OIl of Pa. Kay County Gas: 0. . Pantepec Oil.". 6 Reiter-Foster 0il 1 Salt Ck 'Prod .. Tidal ‘Osage O Tid Osage 0 NV 8 Tide Water Oil .. de Wai Oil_ptd 7 Venezuelan Pet 1 Warner Quinlan. [he 5 STANDARD OIL RS 50 Buckeye P L, ‘{‘?)l:,;l““'bo” n 0 THimble Ol 1600 I O Can P o EVENING STAR, uth Penn 0 'f 00 Sonthern ¥ L 0 2;.30& 0 e Saes in thousands. 27Am G & El 68102 1018, 0 Am Seaimr 630 1081 1 25 Am W W s 2 Appa Ll Po A ATGER -xa.’ 0317 3 Ax Sim i Hraverhd Beo2® B 2 Can Nat Ry’ 6 C 2, 15Gal § H 88 wi. 100 Gulf"0_Corp 5a 10014 2 Hood Rub 5ige 01y 3 Ind Limestone §a HR %y Ind OIl & G 68100 Ind P & L 6s A 101 Int Gr Nor 53 B_67 L 100% 1 Inter Nat G C Int Paper 6 3 H, Cont e wi 2 Lel an Pow Blys A s Gan Bs " 1057 at D Prod G138 071 Cona Cop 58 107 % O TM Ry Bs C 103k or S P M 6 2 0kla N Gas i Ohio Po 58 Do Pan Am Pet s an 3 1 1P 1 Dix Cem 68 A 9915 o ! PP&L5sDB3 098 09% 09% Phi E P 58 P Serv N J51; P Oil Co 6%s Rand K 0 ur 5 Swift & 2 58 2 Transcont Oil 0% 1T R of Hav 71, 1‘1’3:‘, 1011 1014} 1017t i 101 ° Salesin FOREIGN BONDS. thousands. Baden 7 .. 6 Buenos A 7e 4 Buenos A 7% 5Ber CE 61" 43 BEEUR' Glhn wi 8 Denmark 807 13 Fr St Prue 658 7 Ger Cons Mun 73 14 Gt Cons EI 838, 10 Hunk € Mun 7s M B Fin 7s talian Pub U 7s KOy rupp Frie L 78 100% DT Eoorom qoraSrm D10 onomo $ 348 H_6s 1st pd State Ham, Gs. 031, Stinnes H 7s '3 99 HY U Suinnen K Th 86 00 it viss Govi g b ThSY 150k st 4 108 m‘zs 1088 'St W Bur 7o 08N D&% 084 81Tn SUW 6l A OBTx OR% URY LIV, Che A san mall BAR oErivideaa, OWOC 90X B8R 08X SHORT-TERM SECURITIES. (Quotations by J. & W. Seligman & Co.) fug O'°%mer Adirond, P. & L. C. 66 1020, 1051 108% Alame Cor of Ammer: 7% 1033 10568 18 Am. Tel. & Tel. Co s 1 B 08 Anaconda (‘()Yprr B8 102! 1 Yy 2 4y Associated Oil 6s 1935..... 1021, 2 83 Baltimore & Ohio 8s_ 1928 1 2% Bell Tel. of Canada 5s 1055 10072 101 Caniral ot Grorets: do 10507 1901 ‘entral of Georgia s 19 . Chi & St. Paul 8s 1 1 :: Chi., MiL City' of Lyons 6s 1034 Columb. G. & E, 1st 58 Continentai G. & E. 8k 1037 Goodyear T. & R, 58 1028. . Great Northern 7s 1036 . Gulf Oil Corp. Pa. 548 1638 Hershey Choc’ Co. Blys 1910 Humble Ol 5348 1032 . Mass. Gas Co. 535 1946 Morris & Co. 7igs 1030 Y. Airbrake fst 0s New York Tel. 0a 1941 Qrogon snort Line Penna, R. R. s 10 Pure 0il Co_ 6338 1 Sinclair C. Oil P! ¢ Sou. Pac. R 3255255555 Sns! ZFERIRRSRRSEERE L ENESAR R SE RS pae] =2 205555500 Do pve o o0cDonH SRR RERSSE 52 2BERSERRERS 0 05 107 Tnion Oil of Calif. 5 Union Pac. R_R. C. 48 Tnited Lt & P. C. Blas 1 U.'S. Rubber 6135 1928 FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Cloging.) 59 Aopeax. Maturity. p B ey ,g yield 434s May S8 May 30 &, 34 i 5 i i3 i3 i 8 e ‘z FOREIGN EXCHANGE. (Quotations furnished by W. B Co.) Nominal & checks wold valve, 3 London. pound. $4.8665 Montreal. dolls 1.00 Paris. franc. Brussels. franc..iii. 19 Berlin, miark. . . 288 Rome. lira. « a8 Zurich, frane: . L | Athena, drachma. 19: Madrid, peseta 1 crown crown Pragie, crown.. Warsaw. zloty. ... ... Copenhagen. Crown... Oslo, crown. . Stockholm, 2026 2026 TREASURY CERTIFICATES. (Quotations by J. & W. Seligman & Co.) e R e WASHINGTON, D. C. $50,000,000 STANDARD OIL LOAN IS BIG FINANCIAL ACHIEVEMEN Stocks' Withstanding of Bad News, Rise Franc and Fall of Cotton Prices Featpre Week. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, December 4.—Review- ing the financial markets of the week, the features which stand out prin cipally are the ability of stocks to withstand trade news which has been anything but favorable, the success- ful offering of the $50,000,000 Standard a notabls achievement because it was put out Oil of New York loan, on a lower inerest basis than any. thing attempted previously this sea- son; the rise to the highest point of 6 in French francs and the fall to 1 the lowest in 1926 in cotton prices. __These are a collection of episodes interesting by themselves, but involv- ing little difference in the financial position of the week. , The stock market has been genu- inely strong, but without any signs of bursting into a big speculation, such as many observers have been fond of predicting. Taking the main body of the list, the net changes of the week have been movement has been manifested rather in the strength of highly speculative industrials, a few of the rails nd most of the oils. There has heen noth- ing like a general forward swing, and it does not appear at the moment as if the market will do anything more than continue with its operations in individual stocks and groups of stock: while others whi ve stopped go- ing up are being distributed. Bond Market Revives. The Standard Oil of New York bond transaction enlivened the investment market at the end of the week after it had passed through a period of com- parative dullness previously. Here was a successful bid for capital at a lower yield than offered on any flotation of equal rank this year. As such it em- phasized the ease in money condi- tions and the belief in banking cir- cles that low rates would continue in- definitely. The December 1 interest and divi- dend disbursements required the tem- porary withdrawal of a considerable sum from the market, and call money was quoted at one time as high 514 per cent, but as soon as the funds were returned rates slipped off to the 415 per cent level, where they had been before. The call money fluctua- tions, while they have been talked about as if they were an influence.} good deal of discussion, espe er the estimate quoted by the Iron ground. outlooked for 1627 degree of well being, activity as compared before. remarkably small. The ascendence of the upward minimum a of how the South will be affected and how this will react on gen side of New York City, Jative business counts little, bank clearings over 4 per cent from a year ago. 5 have not been a factor at all. Nobody sold any stocks on the idea that the little money upturn foreshadowed a restriction in credit, and nobody bought any stocks later in the week, because the expected happened and money rates came down. The steel trade has come in for a ally &ft- Age that the steel mills might run down to 50 per cent of capacity before the current reaction runs its course. This suggests a sharp variation from the average of over 80 per cent as it stood in October. How much cf this represents merely a seasonal loss and how much a decline which will not be easily regained next year, is a ques tion. The impression in quarters which are not carried away either on the side of optimism or pessimism is that the steel trade will pick up in the early part of the year, but will not get back by any means its lost In other words, the steel for a moderate but Jessened h the year fall In_cotton to the year's ain_raises the question the buying power of The much al trade. Out- where specu- fell off during the week Franc Advance Orderly. There has been no excitement ac- companying the rise in the French franc; no collapse of a bear specula- tion like there was in March, 1924. The advance has been orderly, but it has been pel an insufficiency in the sunply as cora- pared with the demand. dustry, having adjusted itself to a low basis for the fra sudden a efforts have appeared to check the upward movement. tent enough to denote French in- , does not relish so But so far no change. Rates are going up because French SATURDAY, DECEMBER 4, 1926. TUNNEL IS OPENED. BOSTON, December 4.—The traffic | of the Boston and Maine Rallroad, | which has been routed around the | Hoosac tunnel for some months, now passing through that bore, which has been enlarged to accommodate the largest size freight cars. About I 45 per cent cf the total freight busi- ness of the road will now pass over this route. Before Placing or Reasonable Charges. 15th & ) “lis 2 SAFEand SURE way of gett capital, exiled or concealed in home investments, is anxious to get back its paper currency holdings. has been no further talk of stabiliza- tion along artificial lines like that put through in Belgium. what the stabilization fizure might be, supposing proved invariably wrong. ‘There Guesses as to one were planned, have COTTON 1S STEADY AT OPENING TODAY New York and New Orleans Markets Stable on Liver- pool Reports. By the Associated Press. ” NEW YORK, December 4.— Cotton futures opened steady. Decem- ber, 11.90; January, 11.62; March, 11.85; May, 12.08; July, 12.30, Renewed liquidation and Southern hedge selling marked opening deal- ings in the cotton market today. Jrirst prices were steady, with De- cember 1 point higher in response to relatively steady Liverpool cables, but other months were 2 to 10 points lower. 11.55 for January and 12.02 for May, or about 10 to on the more acti Trade buying was slightl evidence at these prices, while there was also recent sellers, which market and caused rallles of 4 to © points from the lowest by the end of the first hour. There were reiterated reports of an easing spot basis in some of the Southern markets. A Liverpool cable said the decline there had brought in covering by shorts and continental buying. New York cotton futures closed steady at net advance of 8 to 19 points. e e . 5 Tamaars 184 1155 March ARge 1rse May 52 July 1229 5 New Orleans Market. NEW ORLEANS, December 4 (P). __Cotton futures opened steady; Jan- y, 11.95; uary, 11.67; March, 11.81; M July, 12.10; December, 11.65. The cotton market opened steady cables better than due and first trades show- ing no change to 2 points decline. The market soon turned easy in active trading on a renewal of hedge selling and on unfavorable spot news from the interfor, it being claimed that the demand for the actual has diminished whereas offerings have Increased. De- cember traded down to 11.59, January ch to 11.72, or 8 to here today with Liverpool to 11.58, and M 13 points under yesterday's close. New Orleans cotton futures closed stcady December January March May July Liverpool i)uotnt!ons. LIVERPOOL, December 4 (P).— Cotton spot dull; prices easier. Amer- :30; good ng, 6.65; middling, fean strict good middling, middling, 6.95; strict midd middling, 6.40; strict low 5.35; strict good 5.90; low middling, ordinary, 5.00; good ordinary, 4.35. Sales, 8,000 bales, including 1,500 Receipts, 20,100 bales, all Futures closed steady. January, 6.36; March, October, American. American. December, 6.1 6.35; May, 6.46; July, 6. 6.66 — e BOURSE PRICES UNSETTLED. PARIS, December 4 (A, centimes. 54 francs 35 centimes. . quoted at 24 francs 95 centimes. The franc opened at 25.46 to the dollar and 123.50 to the pound sterling Yes- 2 and and closed at 2495 and 121.40. terday's quotations were 124.90, GERMAX BONDS AND STOCKS. (Quoted in dollars ‘per millign marks,) | Ger Gt (w In) ba 1014-18 1. Hamburg 43%8 1010..... (Quoted in dollars per thousand mat Ger Gen Elec 4138 pre-war fier Gen Elec 4145 1919. b 3s, 3168 & 48 amburg Amer Line 4148 orth German Lloyd 4 % North German Lioyd. Prusslan o ot 31 rupp b8 1921 . Dusseldorf 4s pre-war Munich 4s Badische A A'E G (Ger Ge A EG (GG E) pid B! Commerz and Privat Bank. Disconto Gellschaft. Dresdner Bank. Deutsche Banic. Darmstaedter Ba Mercur Bank Vieun: Heyden Chemical. ust A E G (Gen Elec). Berlinereeeee ] price of sugar creased from $5.75 to $6.2 southern Alberta beet grower: which last year cent sugar content this year run 16.43 per cent. The decline soon extended to 2 points net lower more in considerable covering by steadied the Oklaho! totaled 1 ported the largest number with 24. Important Developments Expected down buying orders, Prices were unsettled on the Bourse today. Three per cent rentes, 49 francs 85 Exchange on London, 121 francs 40 centimes. Five per cent loan, The dollar was Co., which handled 0 1875.00 50.00 10000 Rul bed Darch, 38.00; May, 38.80, COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY GREENVILLE, . H., December Owners of the Columbia Mill, the only cotton mill in this vicinity, have decided to cluse the plant. LOANS We will gladly receive and give prompt attention to applications for Loans on Washington Real Estate Current rates of inter- est. Should you have Money to Invest —we can also take care of you. tending over a period of Our experience, ex- Thirty-five Years —insures _yvour protection. Percy H. Russell Co. 926 15th St. N.W. When You Need a Loan Think of Welch, Realtor Loan Speclalist Money to Loan At 5%,% & 6% Interest enewing Your 1st or rust Get Welch's Pieures Ave. Every Person wants to get ahead. Every one can tave something out investment. Come in and open an account and be convinced that it is the safe and sure way to get ahead. i their earnings for Columbia Penfianent Building Association 733 12th St. N.W. Main 352-353 RAYMOND, Alberta.—The contract beets has been in- a ton for Beets averaged 14.41 per DETROIT.—Dr. W. O. Hotchkiss, president of the Michigan College of Mines, will ask the next State Legis- lature for a $50.000 appropriation to study new methods of treating low- grade iron ores. “has millions of tons of ore contain- ing 30 to 35 per cent iron and 50 per cent silica. an economical way of reducing the silica and sa state high-grade Michigan ores will be exhau: Y “Michigan,” he said, The problem is to find ng the iron. Experts ed in 16 year: LANCASTER, Pa—Lancaster manufacturers turned out 16,045,385 cigars in the last month under spur of the Christmas demand. over 800,000 more than were produced in the corresponding period last year. ‘This was TULSA, Okla.—New locations in the ofl flelds in the last week The Seminole fleld re- MERGER MOVES SEEN. in Nickel Plate Project. NEW YORK, December 4 (#).—Im- portant developments in the Nickel Plate merger project are expected to take J Van Sweringen brother sociates here within the next week or ce at conferences between the and their as- Street heard yesterday. Work on a revision of the consolida- tion terms has been ‘progressing stead- ily, and the changes now are under- stood to be taking definite shape. Reports that the entire project was about to collapse were discredited by hankers in close touch with the situa- tion. COTTON MARKET EASIER. NEW YORK, December 4 (#).—An easier tone has developed in the cot- ton market during the past week. De- clines have been held in check from time to time by the execution of scale but there has been considerable pressure attributed to Southern hedging with liquidation of old long accounts, and offerings be- came rather more urgent yesterday after the publication of a private report pointing to a yield of 19,115,000 SERVICE COMPANY REPORTS. NEW YORK, December 4 (P).— Engineers’ Public Service Co. reports consolidated gross earnings of § 044,959 for the year ended October 31 with balance of $5,240,070 available for reserves and dividends on the pre- ferred und common stocks. Have You Been Stung Yet? Some men have to get stung good and hard before they learn to be cau- tious in making investments. Before you invest—investigate! i ISSUE QUICKLY TAKEN. NEW YORK, December 4 (P).— Public offering today of $50,000,000 Standard Oil of New York 25-year 41 per cent debentures was quickly over- bed, it was announced by the ate headed by Dillon, Read & the transaction. COTTON GOODS WEAK. NEW YORK, December 4 (Spe- cial).—Cotton goods markets were weak at the end of the week, print- cloth prices easing off an eighth of a cent to 63 cents for 64x60's and 713 for 68x72's. silks were steady with demand mod- Demand was light. Raw erate. POULTRY PRICES STEADY. CHICAGO, December 4 (P).—Poul try, alive, Steady; receipts, 6 car: prices unchanged. RUBBER OPENS IRREGULAR. NEW YORK, December 4 (®).— bber opened frregular; smoked rib- ed sheets, December, unquoteds Johann Wolf, % von Goetly 7749 T TOOK more than half a century for Goethe to form and reshape his ideas and gradually build up the magnificent poem-play “Faust” — the crowning literary glory of a life filled with literary glory. Perseverance is an ad- mirable quality. Calm judicious thinking and then — unrelenting pre- gression toward the goal In the drive for finan cial success there are two places ‘here oerse- verance must be applied in earning and in sav ing. It is not enough to win the reward—you must hold it also. 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