Evening Star Newspaper, December 7, 1926, Page 14

14 ® BULLSHOLD SWAY | e " INSTOCK MARKET Péblic Support Is Still Small, “ But Several Issues Hit New Top Marks. BY STUAKT P. WE! Bpécial Dispatch to The Star. NEW YORK, December 7. ber of high records for the ¥ made in today's market, but the char- acteristics of the trading were the sapie as they have been right along. Professional operators were working Juainly on the side of advances most of the time, because it was manifestly the more promising side. But it was still apparent that pubiic support was small. The principal gains, as usual, oc- curred in stocks in_wkich outside interest was small. Whether or not on account of the disclosure of a fur- ther increase in brokerage loans, call yioney renewals were marked up from per cent. This advance was cted, as it w « that as the funds in- Voivegd in the December 1 settlement ned to the market rates would go back and stay back where they were before. Tlad money 41 to changes at any be »f importance i exchange fluctuations, copments in this quarter would have counted. As it was, they had none at all. It was natural to refer the «iréngth in’ the greater part of the the President’s message. It! . the sort of reading | e investment commu- | 1 s interests gencrally. f3ul there was nothing at all new hing which had not been looked | ax veduction, railway consolida- | ous, mainte e of tariff—these, | he main of the message, ver v reiterating the well| Jinown administration program. i Sentimentally, the President’s rec- ommendations helped the market; of this there was little doubt. But there was no difference in the trading be- fore and after Wall Street had a chance to read what the President had | to say. United Cigar Stor and | Schulte Retail had evidently by nol tieans discounted the alliance estab- lished between the two companies, fuMer details of which were given out this morning. United Cigar _Stores, which had closed Monday at 97%, ran across par. Products were sympathetically strong. Among the stocks which bettered | their previous top for 1926 were In-| ternational Harvester, United States industrial Alcohol, Electric Boat, Col- lins & Aikman commond and preferred, Otis Elevator and Rureka Vacuum Cleaner. Oil-shares were doing compar- atiyely little. In the sugar group South Porto Ric ime, was up again. | bought more con- sistently as the price advanced. Tim- kin Roller Bearing had a_sharp rise, part of which was a bed to the covering in of the short interest. Ma“k Truck, the regular dividends on Wwhich were declared, was in some demand. Steel shares had by all through the early trading, but as the afternoon went on they swung| forward again under the lead of | Tnited States Steel. Buying of thel Jatter was founded on preliminary | estimates that the unfilled tonnage ! statement, due would show increase po much as 100,- 000 tons. Cruc eel and Colorado Fuel and Iron actively bought also. United States Cast Iron Pipe. mov- ing, as is quite customary, with the ! steel group, had an abrupt jump. In- terests back of the former movement | in the stock were given the credit for the recent They were sup- | posed to be operating upon en holding back | predic- | tiops that the company would have | the=hest vield in its history this year _Considering the drop in copper to the-lowest prices of the vear, the cop- | ver shares held remarl with Anaconda regaining 1ost, and Kennecott unck 62, American Smelting’s ris ked. During the greater part of the se sion railway comparative- on and Chesa- gher, but most the group were substantially the same Corn Products was one of the stocks actively bought in the late dealings. WHEAT HAS UPTURN | IN TODAY’S DEALINGS | Strength in Liverpool and Bad! Weather in Argentina Are Bullish Factors. half point | nged around | 1: was By the Associated Press. CHICAGO, December 7. — Wheat scored an early upturn in price here today, helped by unlooked for strength of the Liverpool market and by un- favorable weather conditions in Ar- gentina. December wheat here con- tinned to narrow May. Starting at la Chicago wheat value: further gains. Corn,, oats and pro- visions were also firmer, with epening unc sequently establishing t0 % higher, its discount under | pposed, On | am PogLt (1) | Putterick (2). .. | Am Tel &Ca (5) FINANCIAL Abrahm&Straus 60 Adv Rumley.... 1% Ad Rumley (3 364 Ahumada(t60c). 5% Alr Reductn(16) 140 Afax Rubber.... 7% Alasks June: 1% Allls Cha)m (6). 89% i Amal Leather... 17% | Amerada (2) Am Agricul Am Agri Ch pf.. A™ Reat Sugar. Am Bk Note (3). 43% Am Bosch. .. 17% Am Brake Sh(8) 145% 1 Am Br BovEI(2 89% AmCan(2).... 52% Am Car&Tay ( 1 Am Chain A (2). 29% 12% 43 26% 17% Am & FOPpfe7) £5% Am Hide& Lpf. 49% Am Ho P (240). 29% Am Ica (110) oioi Am Internatl Am Linseed.... 30% Am Linsd pf (7) 72 Am Locomot (8) 113% 1 Am Loco pf (7). 124% 1 60% Am Radfator(5). 110% 1 Am Safety R (3) 59% Am Ship & Com. & Am Smelting (8) 135% I AmS&Rof () 119% 1 Am Snnff (12).. Am SH Paye (3) 45% Am St Fy pf(7) 113 1 Am Sugsr (5)... 83% Am Suear pf (7) 109 Am Sumatra.. 41% 29 Am Tel & Tal (8 Am Tobac B (8) 4m Wa Wo ¢1.20 61 Am Woolen..... 35% Am Wool pf (7). Anaconda (3) Archer-Dantels. ArmourDel pf(T Armour of TI(A Arnold Cons&Co Asso Dry G(23) 41% Atchfson (7). AN Rirm &AL % AtlCoastLrts.. 16 Atl Gulf & WI.. Atlantic Refing 110% 1 Atlan Ref pf (7) 116% 1 Avstin-Nichola 9% Austin Nic pt(7) 56% Palawin L (7). Ralto & Oh nf(4) Rang & Ar (3).. Parnsda’l A (2) Rarnsdall B (2). Ravuk Clear. Reech-Nut (43). Reldine Bros(3) Rethleham Steel Reth St1 pf (7). Rloominedale Paath Ficherias Rooth Fish 1st. Rotany A (4) Rriges Mfe (3). RkInEdlson (8) RIkn-Mn Tr (4} Rkin Tn G(+11) Rrown Shoe (2). 23 Rrunswick Tar 151 Rurns Bro (10). Rurronchs (+4) Rush Ter de (7). Rutte&Snper(2) i1 % a7 1% 91% 12 52 4 68 21% 1% 15% Ry-Produnts (2) Caif Packe(4). ~alif Petral(2) Callahan Zine. . Calumet&H(1%) Fan Pacifie (10) Case Threshine Case Thr of (7). Fent Teather nf Cent Lea pf ctfs. Cerro De P (4) Certain-Teed (4) Chand-Cleve.... &% Chand-Clepf(4) 24 Ches & Oh (112) 160 Chi & Alton. . 4% Chi& Altonnf.. 6% Chl & East TIL “hi Gr West | Chi M1I&StP pf. € M&S!P pf ofs. Chi & Nwn (4) . Chi R1& Pac. 6814 CRI&PDL(6) 0T CRI&Ppf (7). 107 Ch:'ds ($2.40).. 50% Chile Cov (2%). #2'% ¢ Chrysler Corp(3 Chrysler pfA(8) 104 Cora.Cola (7). Collins & ATk(4) 59% Collins& Atk pf 7 1107 Fol Byal & Tron 46% Col & Southn (3) ol Gas & B (5 Col Gas new (5). Col GRE pt A(6) 101 Cal Carhon (4) Com Credit (1).. Com Cr pf B (2) Com Inv (3.60) Com In Tr pf 6% Com Solv B (8). Congoleum-N.. 207 Congress Cgr (3. 54 8 (7). 87 112% 1 53 625 43% 18% 19% 77 8914 19 22% 60% 94 224 ConRRCuba pf 8 70% onsol Textile. Cont Bakg A (8) ont Baking B.. Cont Bak pf (8). 90 Cont Can (i8).. 75 4 2% 814 \ corn | anged to % up, and sub- | a moderate | 0T N U sugar general advance. i Indications of better 1 mand for North especially wheat available for nes shipments, counted noticeably at tim today in favor of higher prices. In this connection rotice was taken cf Liverpool advices telling of scantiness of fmmediate supplies and of increased demand by mills & to delayed movement of wheat from Canada. Another strengtheni; oday’s wheat market act At Winnipeg prices early e greater firmness than did quc here. In some quarters the of the Winnipes market was American ropean de- | A heas | Cuba Co (4). Y | Cuban-Dom Sug S| Cudahy (new).. | | in | Detroit Ed rts.. Cont Insur (6).. 138 ‘ont Mot (80¢). 1% Corn Prod (12%4) 50% Coty. Inc (16)... 60% Crucible S;l (15). 1;2 Crucible pf (7) s 4T 33% 274 18% 52% s4% 26Y% Cuba Cane Su pf Cuban-Am 8 (1). Cuyamel Fruit. Davison Cnem.. Del & Hud (9).. Allied Chem (4). 141 141 AllfedCm pf (7). 122% 122% 122% 123 183 Ralto & Ahio (8) 1 106 1297 130 119% 120% 119% 7% €4 43% 2414 © 162% 160 7% 68% 0T 97% 107 52 a7y o8 104 168% 170U 16816 601 1205 118% 4% 46% & 55 815 89% 90% 90% 89% 1014 100% 681 68% | 51% soon showed | o prod pf(7). 126% 126% 126% 61 60 1% 1% 38% 36% 5% 5% 142% 140 % 1% 139% T 1% 89% 88% Allls Chal pf (7) 110% 110% 110% 17% 17T% Amai Lthr pf(7) 106% 106% o 29% 2! 12% 12% 45% 43 26% 26 43% 43% 1% 17T% 46 145% 39% 39% 53% b2 06 104% 25% 10 10 17% §5% 5% 50 49% 29% = 29 29 129 39 89 12% 11% 20% 29% 7 1% 3% 112 24% 124% 61% 60% 1% 110% 60% 59% 6 6 371 13 19% 118 133 44% 1% 5% 13 R4 82 29 150 150 Am Tohaceo (8) 121% 1211 121% 119% 120 617 119% 6104 34% 801 8% 46% 4% 26% 90% 9 50% Y .. 156% 157% 165% % % A Atlant C L, (+10) 201 202 200% 16 15% 281 8R% AR 10% 108% 16% 1141 0% 9% B6% 56% 158 158% 154% 105% 7214 72% 44 108y 102% 10 a7 . 8 (3 47 a7 o416 24 oK% 2R 1571 1571 154% % oF7h 61 5% 120% v 2 1% 19% 6 8 21% 15 15% 68% 2% 1% 157 163% 164% 1€3% 162 152 148 12% 112 5 B2 55 52 53 6214 431, 8% 23% 53 8% % Fle 5% 81 30% 30% 80% o4y 4% 18% “4% 18% 18%; 77 684 19% 107 50% 2214 271 104 2% 58% £5 684 19 18% 221, 230% 224 207 54% 871 86% 6).. 109% 109% 109% 71 4 64% 60% 20% 53% 0% 3% 8% €0 5% 1381 138 1% 49% 1% 60% 60 9% T8 | 1024 102 10% 47% 10% 48 23% 53% 344 6% 343 26% 170% 171% 170% Del L & Wn (17) 144% 144% 144% Detroit Ed (8).. 134% 135% 134% 3% Dodge Bros CIA 24% Doage pf (7) ions | Dome Mines (2). 11 ion | Du Pont (112).. 165 1 - | Duquesne pf (7) 115% 1 8% 25% B4 2414 84 824 12 11% 67% 165 15% 115% ciated with reports that the Canadian | pogiman (18)... 12214 122% 1224 government taking steps to ald g resent_on account of Great Lakes and the St River. WILL PAY EXTRAS. Hercules Powder and Midland Steel | grie R R. Declare Dividends. NEW YORK, December 7 (P) rectors of Midland Steel Produc —Di- Lawrence | gectric Boat... 24% 12% 67% 12% 18 aton Axle (2).. Bisenlohr & Bro. El AutoLt(16%) Elec Power & Lt Elec P & L pf(7) Elec Refrig (¢2) Elec Sto Bat(16) End-John (5)... Engineers PubS Erle 18t pf = Erfe Stm S(2%) Eureka Vac (4). Co. | pairpanks (3)... 4 4 today declared extra dividends of $1 a{ Famous Pl (J8). 119% 1 <hare on the preferred stock and 49| FedLight(®1.40) 43% cents a share on the common, in ad-| Fed Min & Smelt dition to the regular quarterly dis- bursement of $2 on the preferred and ‘$1 on the common, all pavable uary 1 to holders of record December 17. Hercules Powder Co. declared an extra dividend of 41; per cent on the common stock and the regular quar- terly of 2 per cent, both payable De- comber 24 to stock of record Decem- ber 16. SILVER QUOTATIONS. NTT YORK. December 7 (#).—Bar &ilver, 93%4; Mexican dollars, 40%. Fed Min pf (D). Fed Mot T (f80c) Jan. | First Nat 8(1%) Fisk Rubber. ... Fisk 1st pf (7). Fleischmn(t2%) Foundation (8). Fox Film A (4). Freeport-Texas. Gabriel Sn (3%) Gardner Motor. . Gen Am Tnk (3) 48% T9% 2% 35 307 ™% 8% 24% d% 23% 61% 44 20% 118% 421 83 T4 24% S1% 1% 34% 30% ™ 8 487 48% Gen ATC pf (7). 108% 108% 108k Gen Asphalt.... s 85% 84 Gen Asph pf (5). 127% 127% 127% Open. High. Low.Cl Adams Exp (6). 127% 127% 127% 127% 11% 1% 139% 122% 83% 110% 1% 106% 29% 12% 155% 105% 701, 44% 24 o6 3% 61% 8% 4% 138 m EVENING STAR, WASHINGTON, D. 0., TUESDAY, DECEMBER 7, 1926. ACTIVE TRADING AT ADVANCING PRICES FEATURES LOCAL 'CHANGE Gen Cigars 4).. Gen Elec (h3). .. Gen Elec sp (600 Gen Gas A(e1%) Gen Motor(t11). | Gen Mot p£(7). . Gen Outdr Ad(2) Gen Outdr A (4) Gen Ry Sig t5% . Gimbel Bro u (4) Goodyear pf (7). { Gothm S H (23) Gotham new 23 Gtanby Consol. . Grt North pf (6) Gt Nor Ore (1%) Grt Wstn Su (8) Green Canan. Guantanamo. Gu M & N pf (6) Gulf States (5). Hanna 1st pf. ... Hartman B k4 40 Haves Wh(t31) Helme G W (17) Howe Sound(4). HudsonMan (2% Hudson Mo(33) Hup Mot (1.40). Tlinols Cen (7). ndep OI1 (1)... Tndian Refining. [ndianRefg ctfs. Ingersoll-R(t5). Intérbor Rap Tr. inteontl Rub(1) Internat Agri. .. T A= C pr pf(7) Int Bus Ma $3% . 1t Cenent (4) Tnt Cement pf (7' nt Com Bng (2) ot Harvatee8)y. Inter Har pf (7) niMtch nf(3.20) Int Mer Marfne. A per (2)... nt Paper pf (7). Int Tel & Tel (8) Tntertype (t1%) Tewel Tea. . Tordan Motor, KCP & L 1st (T) Iavser T (... Kayser pf (8)... Tellv-Spring. .. Keisey Wh (8). Kennecott C (5). Kinney G R (4). Kraft Cheese. .. Wrocoa Q01 90 e SS pf(7) Kress S H (7).. Laclede Gas 110, " acn ON& Tran Lambert Co (5). Leh&Kink stf(3) Tizmett & M (14! Tir& M B (H4). T.fma Loco (4).. T.iq Card (3.60). Loew's Inc (13). | Lore. B T.00%e L00se W 24 (7). Torillard (§2)... Lorfllard pf (7). TLoulsGasA (1.75) Ludlum Steel (2! McCrory B 11.60 Mack Trucks (6) Macy pt (7).... \acma Cop (3). Manat! Sugar pf Man EI Sup (5) Man El m g (D) Man Shirt (1%). Maracaibo Ofl. . Marland Of1 (4). Marland Ol rts. Marlin Rock (2). Mathieson (4).. May Dept St (8). Vaytagz Co ¢ .. MetroG pf(1.89) Mexican Seabd. . Miam! Cop (1) . Mid-Continent. . “fidd)e States. .. Mid States Ofl et Midland pf (+12) Min St P & SSM. Mis Kan & Tex. . MoK & T pf (6). Missouri Facific Missouri Pac pf. Montana Pow (5) Montgmry W(4) Moon Mot (1%). Mothr Lode(750) Motion Pie (1). . Motor Met(3.60) Motor Wh (2).. Murray Eody Murray Body ctf ush Mot (13).. atl Acme. .. ... Nat Biscuit t6% Nat Cash R(A)3 Nat Cloak & Suit Nat Lead (8)... Nat Pw&Lt(80c) Nat Supply (16). Nat Sup pf (7). Nat Tea (4).. | Nevada C (1%). N Y Arr Brake(2) N Y Canners.... NY Canner p£(7) NY Central (7). NY Chi&StL(11) NYC&StL pt (6) NY Dock....... MY NH & Hart.. NY On & West. . NY Rys part cfs NY Rys 2d stpd. Norfolk South | Nort & W (110). | NAm(10% stk). | NorAm Ed pf(7) | Nortn Pac (5) | Norwalk Tire % | Orpheum : 26 6014 T8 102Y % 3% | 53% 34k 26% 1715 14414 185% S% % 11% 115% 122% 24% 128 119 424 83 4% ! 24% | 313 | 16% 80 48% 811 1% 34y 81% 8 48% 108% 84 127% | Orpheum pf (8). | Otis Elevator (8] !'Otis Steel....... | otis Stl prior(7) | Outlet Co (14).. | Owens Bot (14). | Paige Motor | Pan.Am (6) { Pan-Am B (6).. Pan.Am'WnB(2). | Panhandle. | Panhandle pf... | Park & Tilford.. | Park Utah (60¢) | Patne Ex (c3)... | Peerless Mot. | Penick&Ford( | Pa Dixie Ct(80¢c) | Pa Dix Ct pt (7). { Penna RR (3%) | 1 enn-Seab Steel. Peoples Gas (8). Pere Marq (18). Pere Mara pf (5) Phila Co pf (3).. Phila & RC&I. Philip Morr} Phillips Pet Ppierce-Arrow Pierce-Ar pf (8). Plerce Ol ..... Pierce Ofl pf.... | Pierce Perolm. . | Pitts Coal.....o pitts Coel pf. | Pitts Stl pf (7) | Pitts & W Va(8) Porto Rico Tob. | Postum (6)..... Pub Serv NJ (2). | Pub Serv pf (6). | Pub SE&G pf(6) Puliman Co (8). Punta Aleg Sug. Pure Ofl (12%). Purity Bak (A). Purity Bak (B). | Radio Corp ot A. Radlo C pf (3%) Ray Copper(25c) Keading (4).e.c Reading rts. Reading 1st(2).. W YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Open. 37 86% 11% 107% 21% | 88 % | South Pac (3}... 83 2% | 100 99% 18% | 824 99% 1034 188 46 19 40% | Seagrave(el.20) | Sears-R ‘n 2%). | Sher-wil pf (7). Shubert The (5) ¢ Lanston Monotype and Merchants’ Trans- fer and Storage Preferred Stocks Are Dealt in Exfensively Today. . - BY EDWARD C. STONE. Lively trading at advancing prices was recorded on the Washington Stock Exchange today, Lanston Monotype and Merchants’ Transfer and Storage preferred being the most active stocks on the list. Sixty shares of Lanston sold at 92 and 50 shares of Merchants’ Transfer changed hands at 101%. The lattér stock then advanced to 101% on additional sales of 30 shares. Cap- ital Traction maintained its recent price of 104% on a turnover of 29 shares, while Federal-American Co. common made a new high by selling at-32% after opening at 32%. Potomac Electric Power preferred came out at 108. Ten shares of Rail- way and Llectric common appeared on the board today, going at 178. Na- tional Mortgage and Investment pre- ferred was 8% at the opening for 100 shares, and than sold at 8% in a 70- share turnover. Mergenthaler was 105%. Three shares of District of Co- lumbia Paper preferred sold at 80. In the bond division Railway and Electric 43 came out at 83%, Potomac Elbctric ConSolidated 5s at 101 and Petomac Electric 7s recorded a. $1,000 sale at 106. In the unilsted depart- ment 140 shares of Departmental Bank stock sold at 7. Local Banker 51 Years Old. Wade H. Cooper, president of the Continental Trust Co. and also of tae United States Savings Bank, has been receiving congratulations at the two banks on the occasion of his 5lst birthday. The affair was very quietly noted, as It came on Sunday. Mr. Cooper was born in South Carolna. educated in Nashville. Tenn., and started his career as a newspaper re- porter. He studied law, but gave up practice to enter banking and the publishing business. The bank presi- dent was a colonel on the staff of Gov. Taylor of Tennessee in 1921. He is a member of the Chamber of Commerce, City, Racquet and National Press Clubs. Knights of Pythias, 0dd Iel- lows, National Union, Prisoners’ Aid Society and many other organizations. Mr. Cooper is deeply interested in 42 42% 1Sk Hos. ... hoed 114 Remington Type Replogle Steel. . 10% Rep Ir & St1 (4). 56% Reynolds Spngs. % 5% Rey Tobac B(6). 1 119% Robt Reis & Co. . BY% Royal D (a3.078 49% Sufety Cable (4) St Joseph (12).. StL & SanFr (1) StL&San F pf(6) 94% St L Southwest. St L Swn pf (5). 7 Savage Arms 9 70 Schulte Stor(§8) 49% Seab Afr L pf... 3% i 13% b4t b% 119% 8% 49% 53% 42 102 Seneca Copper-. . 3 Shattuck F G(2) 65 Shell Unfon (12) 30% Shell Un pf (6). 109 Wil g 105% 60% 33% Sitmmons($2.25) i 19% 8imms Pet (1).. Sinclair Ol Skelly Ofl1 (2)... South Port S (8) South Por pf(8). Sou Calif Ed (2) Sou Dairies A(4) Sou Dairles k... 34 153 120 81% 43% 21 106% 17% % 94 227% 56% 56 2% 58% 38% 2% 115% Southern Ry (7) Southern Ry rts South Ry pf (6). Spicer MfE..... Std Gas & El g3. Std G & El pf(4) Std Mill (6).... Std O1l Cal 12%. Std O NJ 11.12% Stand Ofl NJ rts. Srd Of1 NJ pf(7) Sterling Prd(t6) Stewart War (6) Stromberg (8) Studebaker (5).. Submarine Boat. Sun Of1 (11) Supertor Oil Texas Co (8).... Texas Corpn (3) Tex Gulf Sul (4) Tex & PacC &0 Third Avenue. .. Tide Water(1%) Tide W O1l pf(5) Timken (16). ... Tobac Prod (7). Tob Prod A (7). Transcont Oll... Union Carb (6).. UnoOfl (2).... Un Pacific (10).. Un Pacific pf(4). Un Tank Car(5). Utd Cigar 8 (e2) Utd Drug (8)... United Fruit (4) USCI1P&F(10) USCIPDf (7). U S Distributing U S Hoftn(13%). U S Ind Alcohol. U S Realty (4).. 66% 51% 55% 2% 31% % 56% 56% 4% 145 36% 28% 40 79% 3% 94% 53% 161% 8 118% 9 166 121 54% 56% U 8 Steel pf (7). Uni Plc 1st pf(8) \riversal Pipe. . Univ Plpe pf (7) Utl PELt A (e2) Vanadium (t4).. Vick Chemical vivadou (3) vivadou pf (7). WabASH...eeese wabash pf A(6). waldorf (1%).. ward Baking B. ward Bak pf (1) Warrer Bros.... Warren Bros (4) west Elec pf (T West P Po pf (6) West Maryland. West Union (8). Westhse A B (7) Wwestinghse (4). weston Elec Wheel & L Erl White Eagle (2) white Mot (4).. White Rock (12) White SM pf(4). Wickwire ctfs. . Wwillys-Overland Wwilson & Co. ... Wilson & Co(A). wilson pf (3%). woolworth (16). worthn Pump. . Wortn Pump(A) Wortn Pump(B) wright Aera (1) Yellow Tr (75¢). Youngstown (4) Sales on N. Y. Market. 421,200 12 n.. 704300 ,: :: 940,200 1,177,100 - —Fd i e O D lus 5% 1 stock 25le r_stock. 2pm. u tock, = 3t ecial stock, o 6% j—Plus 2 —5"&"1? lus in_stock. lu E/?O share in stock. Dividend ived I the above tanle payments on th i Tearly deciaratiens U otherwise nof ‘extra or &l divi depds. are not includ b 2ok, irtl tra. bl P wflm‘o::lqm(‘k BT 5 sk mey- Soartany, U in stock. 1/38"38" ehare quarterly 1 1Plus 3% in s 18% | education, and has given many schol- arships to institutions in the South. Bond Meeting Marked Success. Paul Clay of New York scored a de- cided hit with Washington financiers by his address-yesterday before the Bond Club. Guests present included Howard Moran, Lanier P. McLachlen, E. Percival Wilson, David Friday and Earle M. Amick. Among the associate members attending were Robert V. Fleming, Charles J. Bell, William D. Hoover, Corcoran Thom, John B. Lar- ner, John Poole, Joshua Evans, jr., and E. Jackson Emrich. In addition to President Morgan, other active | members present were: Winslow B. Van Devanter, Guaranty Co. of New York; E. H. Ellis, E. H. Rollins & Sons, S. T. Thomas, Gillet & Co., Edwin D. Flather, Baker, ‘Watts & Co, L. M. Proctor, Alex- ander Brown & Sons, C. G. Morgan, jr, C. F. Childs & Co., Eugene E. Thompson, Crane, Parris & Co., Leon Shore, Eastman, Dillon & Co., ¥. M. Hall, Graham, Parsons & Co., Thomas Hopkins, jr., Harris, Forbes & Co., Charles Henderson, Hender- son, Winder & Co., C. G. Parker, jr;, J. A. W. Iglehart & Co., Frank P. Morse and A. B. Dickinson, J. & W. Seligman & Co., W. W. Mackall, jr., Stein Bros. & Boyce and Carl Kurtz, Stroud, Kurtz & Co. ‘Bankers Urge Tornado Insurance. The District Bankers' Association committee on standardized banking insurance has called attention of member banks to the advisability of { obtaining protection against torna- does when making real estate loans. Chairman McLachlen says: “The cost of tornado insurance is very small in this territory, the rate befng $2.00 per thousand for three vears, subject to 50 per cent co-in- surance clause. In other words, the assureq is required to carry insur- ance equal to 50 per cent of the re- placement value of the building at the time of loss.” The other members of the commit- tee are Francis G. Addison, jr.; L. A. Slaughter and C. H. Pope. * Banker on Important Committee. John B. Larner, president of the Washington Loan & Trust Co., has been appointed by Howard Moran, president of the Distrjct “Bankers’ Association, to serve with representa- tives of civic and frade organizations, as well as the Washington Real Es- |tate Board, on a committee which {will aid in securing an adequate | building in which to house the office of the recorder of deeds. A bill rela- | tive to the matter is now before Con- gress. Bankers are much interested in the safer guarding of these records. The Monthly Bulletin of the District i Bankers' Association has appeared, and, as usual, is devoted to matters | pending before the local organization. {1t has been enlarged to six pages. | The Bulletin urges all banks to send lin more news for the publication and {also makes a special plea that every {member bank send representatives to | the weekly luncheons. i Blaine to Be Bank President. | James G. Blaine, who was affiliated {with the Washington headquarters of | the Red Cross Society during the war, |is to be elected president of the New | York Trust Co. at the January meet- ing of the directors. Blaine is a | grandson of James G. Blaine, who was Secretary of State under Presi- dents Garfield and Harrison and Re- { publican candidate for the presidency {in 1884. S, S. Conover, now president {of the trust company, is to become chairman of the board. Liggett’s November Sales Up. ! November sales of the 445 Liggett {drug stores, owned by the United { Drug Co. of Boston, were $4,595,113, ian increase of $967,809 over Novem- ber last year, and for the 11 months | this year $46,955,547, a gain of $8,531,- 1610 over the same period of.1925. | Seven new stores were opened during | the month. 94% | { Other Financlal Notes. ! Cashier James A. Soper of the Lin- | coln Natlonal Bank is passing a few {days in Philadelphia. i G. Bryan Pitts, chairman of the | board of the F. H. Smith Co., has re- | turned to his office after spending a jweek in New York City, where he at- {tended a meeting of the American | Construction Council. | The Federal Reserve Board has ap- |proved the plans of the American | Bankers’ Association to standardize | the size and forms of bank checks. . ! WOOL PRICES LOWER. | BOSTON, December 7 (Spedfal).— { Territory wools were irregular today, {but with sales at figures representing ia considerable concession from those {of a few weeks ago. Strictly fine | combing territory sold at 1.07al.12, | while French combing has moved be- tween 1.02a1.05, clean. The market for fleece wools is nominal owing to the lack of transactions, but dealers {are not inclinded to accept low offers. i e | COTTON GOODS QUIET. NEW YORK, December 7 (Special). ! —Cotton goods markets were quiet again today, with print cloths un- changed at 67 cents for 64x60s and 7% cents for 68a72s. Raw silks eased off 5 points. .- RUBBER ADVANCES. NEW YORK, December 7 (Special). —Crude rubber, smoked ribbed sheets, advanced % cent at today’s noon quo- itation of 37% cents. This compares with 42 cents a month ago and $1.10 a year ago. CELOTEX DIVIDEND. NEW YORK, December 7 (P).— Celotex Co. declared a quarterly divi- dend of 75 cents a share on the com- mon stock, an annual basis of $3 after payment of 100 per cent stock divi- dend on October 1, prior to which the stock was on an annual basis of $6. PROFIT IS REPORTED. NEW YORK, December 7 (P).— In contrast to net loss of $329,771 in the year ended September 30, 1925, Canadian Car.and Foundry reports net profit of $59,800 for-the year end- ed September 30, 1926. MANGANESE PRODUCTION. NEW YORK, December 7 (P).— Manganese production in the Soviet Union virtually doubled in the fiscal year ended September 30, Under the first year of operation by the Harri- man_Georgian Manganese Co., says the Russian Information Bureau, the output of the Chiaturi fields in Soviet Georgla has increased 80 per cent. e BANK CLEARINGS. NEW YORK, December 7 ial). o er S ERGAD $1.102.000.000 $1.125,000.000 105.000.000 93.000.000 [ovmewvoe BONDS Received by Private Wire Direct to The Star UNITED STATES. (Sales are®in $1.000.) Sales. High. Low. 8:10. % 10018 100 1> 100 15 2 100 10 100 10 100 10 10219 102 17 102 17 100 27 100 24 100 27 1016 1014 1016 103 102 28 103 102 20 102 20 102 20 1 105 25 105 25 105 25 7 109 27 109 21 109 27 FOREIGN. 9 Sales. High. Low. 3:10. Argentine bs. 5 89w 89% 89% Argentine8sJa69 15 98% 98 98 98% 98 98 Rank of Chile 6% Bank of Japan Relefum 6s. . Chile 8s 1941. Chinese Gov R; Con Pow Japan 7 “openhagen 5% Czecho 7%s rets. Czecho s 1951. 3 Czecho 8s 1952 ct.. 30 Danish Munic8sB. 2 Denmark ceee DEIn6%sNovss 1 Dutch East I 6s 47. 17 Dutch East16162. 8 “inland s £8846... 9 French 8s. German F1 P 6%s. 1 Ger Gen Klec T8 Greek 7s... Hait1 6 88 Jergens U M 6s 47. Lyon @s. . . 60 Marseflle fs. ... Mexico 4s 04 asntd. Mexico 45 10 asntd 15 Mexico bsassente 12 Montevideo 7s Netherlands 6s Netherlands 6s 72. 122 Norway 6s 1944 Norway 6s 1952 Orient Dev deb §s. Paris-Ly-Med 6: Paris-Ly-Med 7s Paris Orleans 7: Peru 7%s. . Poland 6s 40. Ul Queensiand 7s. Rhinelbe Un 7s. Rio de Jan 8s 194 Rio Gr Do Sul 8s... 3: Sao Paulo 8s 1936. Sao Paulo 1950. 30 saxon (PW) Ts. Seine 7s 42. .. Serbs Crot Slo 8s Sotssons 6s Utd Kingm 6%s37. Uruguay 8s.. 2 Yokohama 6swi.. 35 93% MISCELLANEOUS. Ajax Rubber 3s 2 105% 105% Am Agri Chem 7 103% Am Smit& R 1st 68 100% Am Smit & R Am Sugar ref 6s. AmT& Tcltr4s. am T & Tecltrbs.. AmTE& Tsf6s, Am 'L &'t deb 6%s Am Water Wks 5s. Am Writing Pap 63 Anaconda 1st 6s. Anaconda cv db 7 Andes (up Ts rets. Armour&Co 4%srf Armour Del 5% Assocfated Ofl 6s. . Atlantic Refin 5s.. Barnsdall 6s ctf Beth Steel pm bs. Beth Steel 5%s §3. Beth Steel 6 Brier H St 1st 6%s. Bkiyn Ed gen b: Bklyn Unfon 5%s. . Bash T Bldg 5s 60. Calif Pete 83s..... Cen Leath 6s 45cfs 9 102 Chile Copper 6s 32.167 106% Con Coal Md 1st6s. 5 83% Con Gas N Y 53 Cuba Cane cv 7: Cuba Cane cv 8i Cuban Am Sug 8s.. 17 108% Deaver Gas 5s. Dery (DG) 7s. Det Edison 5s 40...108 102% Det Edison ref . 4 107% Douge wi6s......142 95% Donner Steel 7s 1 96 Duquesne Ligh! Empire G & F 1% Fisk Rubber 8 Goodrich 8%s Goodyear 8s 1931 Goodyear 8s 1941 umble O & R5%s Kan CP&L b8 A 52. Kan G & E1 6352.. Kelly-Spring 8s. .. Lackawa 8 53 50... Liggett & Myers v G & E 6352 Mor's & Co 1st 4%s New Eng Tel bs. Phila & RAC& 168 Producers & Rf 8 Pubuc Service Pub Serv Elec P Serv Gas 5%s PServGassh Punta Alegre Remingtn Arms 6s. 27 105% 106% 95Y. 106%, 106% 1065 94% 106% FINA Sales. High. Low. !nun’wn t6s.. 35 991 YEn | Vertientes Sug 7 99% 994 | Warner Sug 7839.. 6 76% 76 Warner Sug 78 41.. 8 94% 94% 1 101% 101% Westn Union 6%s. 1 1124 1124 Waestinghouse 6s.. 38 101% 101 Willys-Ov 648 38. 4 101% 101% Wilson & Co 1st 6 13 101% 101% 1 104% 104% 18 108% 108% RAILR 3 Ann Arbor ¢s. e % 101% Bklyn Manhat Buff R & Pitt 43, il Canad North 7s. Canad Pac deb 4 27 CarClinch & O 6s.. 8 Central Pacific 4. Cent Pac 1st bs Ches&Ocv4lys. .. Ches & O gn 4%s.. Chi & Alton 3, ChiB&Qgn4ssa. ChiB & Q Ist rt 5; Chi & E I gn by Ch! Great Wesi CM&StPab 4 CM&StP deb 4s ¢ CM&StPgn CM&StPcvile. 3 CM&SPoveyeszcts 2 CM&StPred%e. 10 CM&StPr 43%s ofls 45 g:.i&gpstrevn... 2 cvbaetsis CM&StP 6 & Chi Un Sta 4348, Chi Union Sta 6%s C&WIbY% s Del & Hud 1st rr 48 Del & Hud 5%, Den & Rio G en Erfe zen 4s. Erte conv 4s B Erfeconv4s D. Erfe (Pa) cft tr Gr Trunksfdb 6: 11 Central 6%s. . I11:C-C StL&NO 6 Int Rap Tran 6s... 39 Int Rap Tr bs stpd.129 Int Rap Tran7s... 43 1 86 104% 99% 99% 9 10A% 106% 6 864 Lehigh Val 65 2008 1 104% L&N4%52008... 81 Louis & Nash 7s... ManRy1stSv..... 1 63 68 Man Ry 2d 45 2013. 7 '62% 62% Market St 7840.... 6 95 95% M1 F! Ry & L 5 89 98 97% M St P& SSM cn 9 89% 89K MStP&SSMenBs. 1 97% 97% MStP&SSM5s38gtd 14 93% 984 MStP&SSMé%ks 2 101% 101% 2 87 % .. 4 106% 106% Mont Trmref5adl 4 98 9% Nassau E Ry 7. 11 60% 604 NOTex&MGEsB. 2 100% 100% 4 104% 104% .13 9% 90 2 96% 96% NYCrfim4%s18 37 98% 97% NYCentr1 6 18 106% 106% N Y Cent deb 5 107% 107 NYC & StL db 4 9 96% 96% NYCni&StL 6%sA. 6 104k 104% NYChi&StLS%sR. 5 103% 103 New Havdeb4s66 3 756% 75% New Haven ¢ 4 . 11 105% 105% 1 102% 102% 17 76 5% 21 30 30 85% 85% Northern Pac 4 Northern Pac 5; Northern Pacr 1 6 112% 112% Ore Short L rfs 48,268 98% 984 Pennsyl con 4% 1 102% 102% 22 99% 99% 3 107% 107% 1 102% 102% 12 112% 111% 28 106% 106% . 2 86% 85% 214103% 103% 1107 107 79 107% 106% 43. 1 90% 90% Por RL&P6s47.. 1 100% 100% Reading gen 4%s. 98% 98 Pennsy! 5s 64, Pennsy! 6% 6 1 102% 102% 41 % 99 7 89 107% 107 6 1134 118% 3 118% 118% 1 9 O 4 3 93 TexArk FS5%s 60. 19 104 ‘Texas & Pacific 1 6 106% 106 1 654 65% 6% 90 Southern Ry 6%s.. Union Pac 1st4s ... Union Pac 4s 27. Union Pacific cv 6s. Whel& LErf4%s 5 90k 90% e (Quotations by J. & W. Seligman & —Noon. 3%8 Dec. 15, 1028, i%sMarch 15, 192 31s June 1053037 638 Dec. 15, W27 TREASURY CERTIFICATES. NCIAL. smoox sxcauvce] ) [} § RESUMED. 3:10. YE% 20% 76 944 101% 1124 101% 101% 101% 104% 103% N BOND MARKET Features 1o Be Found in Higher Yielding Group, Not Best Grade Issues. 79% g,,,l BY GEORGE T. HUGHES. 92% | Special Dispatch to The Star. 94%| NEW YORK, December 7.—The ail 98% | vance in the bond market was re 104 |sumed today almost uniforml 804 | throughout the list, but the features 1% | were to be found in the higher yield 93% | ing groups, foreign and domestic. 97 |rather than'in the strictly high-grad 1004 | issues. The reason for this was 100% | la: zely the lack of offerings in the 105 |latter class. Dealers reported orders 102% | for blocks of 100 bonds in prime rail 108 road underlying - liens shich they A01% | were unable to fill, and the institutions 9% | that wished to buy were not In €3% | terested in odd lots. For such 99 |transactions as occurred in this grade 117%[0f bonds prices were maintained 115% | irmly around the best. 84% | The outstanding leader in the 102% | foreign section the German 7s 92 | the international loan originally mar 101% | keted as part of the Dawes plan 99 | which sold above 106, at a new hig! 96% | for ail time. At 106% the bonds were 71 |up a full point, which is more tha: 61% | they have varied in months past. Today’s gain was notable also for the relatively small amount of buying it took to advance the price. The issue is now selling above the redemp tion price, but there is, of course, no thought of the German 7s being re tired now. Activity kept up in Poland 8s, which also made a new high, but for thi year only, when the price touched 93, up a_half point on the day. to the German 7s the mos was taken in this the highest yvielding bond in ijts class. French fractionally higher and Belglan 7s at 99% sold higher than ever before. In the South American group the De partment of Antioquia bonds galned some ground. In the domestic issues the featurs ‘was Chile Copper 6s, which were bought with apparent confidence although the yield basis at the mar ket was well under 5 per cent. The explanation commonly accepted for the interest was the fact that the bonds are convertible into stock at $35 a share. The movement attracted all the more attention because of the low price of the copper metal and the neglect of other copper securities Bonds of te Cuban sugar-producing companies de moderate gains, this group so far has failed to reflect the improvement in the sugar trade in the same degree as sugar stocks New Bond Issues NEW YORK, December 7 (Spectal) —A syndicate’ headed by the First National Bank, the National City Co % 'and Bankers' Trust Co. is offéring » 99% | new issue of $10,000,000 State of North 107% | Carolina 41; per bonds. 115% | bonds are due 153% 11930 to 1951, and 215 y ¥ 10211 to vield 415 per ¢ 113% 22 The financing |is for school and highway purpo A new issue of $2,35 8% | Dairy Products Co. §% per cent sink #4 |ing fund gold debsmiures is being of 88% | fered for sale by Swncer, Trask & Co. 96 | Bond & Goodwin, Ipe., Band & Goud 102% | win & Tucker, Ia., and Smith « 102% | Strout, Inc. The londs mature De 78% | cember 1, 1941, and are priced at 99 78% [ to yleld above 6.35 per cent. The de 98% | bentures are reds nable in whole or 106% ! in part at any time upon 60 days’ nc 834 [ tice at 107* if redecmed before 1k 16 | cember 1, 1931, at 105 thereafter but 92% | before December 1 1932, the premium 99% | decreasing % per cent for each 88% | thereafter, plus accrued interest. 97% | sinking fund is provided which, it is 86'% | estimated, will retire about 88 104% { cent of the issue by maturity. - 99% | proceeds from the sale of this issuc 106% | are to be used to acquire new proper 68 |tles in Los Angeles and Spokane & 62% | for other corporate purposes. Public offering is made today of i new issue of $1,000,000 General Nec sities Corporation of Detroit by *Ho land, Allum & Co. of 6 per cent seriui gold notes. The notes mature Januar: 1, 1927, to July 1, 1936, and are of tered at prices to vield from 4.50 to 6.75 per cent, according to maturity The company supplies over 65 per cent of all ice used in Detroft, and controls the distributions of dlstillcd drinking water for offices. P. W. Chapman & Co., Inc., an nounce the sale of a new issue of $1,350,000 first mortgage 5.50 per cent bonds, series “A,” of the Citizens’ Wi ter Co. of Washington, Pa. The bond- are due July 1, 1951, and are priced at 99.50 to yield over 5.50 per cent. An issue of $1,000,000 of the Wheel ing and Lake Erie Railroad Co. re funding mortgage 5 per cent bonds serles “B,” maturing September 1 1966, is being offered by Larkin & Jennys. The subscription price 991 to yield about 5.03 per cent. - FEDERAL, LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Closing.) Approx Bid. Ask d mged vield 104% 103% T5% 105% ¥ 112% 984 102% 99% 107% 102% 112% 106% 5333533533 238333222222838 R SRR 2 PRICES ON PARIS BOURSE. 107%| PARIS, December 7 (). —Prices 90% | were strong on the Bourse tod: 100% | Three per cent rentes, 49 francs 35 98y | centimes. Exchange on London, 124 91% | francs 85 centimes. Five per cent 84 |loan, 53 francs 70 centimes. The dol 94% | lar was quoted at 25 francs 84 cen 97% | times. e WILL INCREASE CAPITAL. NEW YORK, December 7 (®). Stockholders of the Bancitaly Corpor ation have approved an ifcrease in capital from $50,000,000 to $100,000,000. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co » Nominal Se:ling checss London. pound Montreat.” dolias 1519 000014 00014 a 02967, Warsaw, zloty.... ... Copenhagen. crown. Oslo, crown. > Stockholm. 90 95 NEW YORK, December 7 (P 99% | Foreign exchanges lower. Quotations 102 P(in cents): Great Britain—Demand 103% | 48414; cables, 485; 60-day bills on 4 | banks, 480%. France—Demand, 3.84 cables, 3.85. Italy—Demand, 4.2% cables, 4.29. Demand—Belgium, 13.89; Germany, 23.77%; Holland, 39.94; Norwa Sweden, 26.70; Denmark, 26.62 zerland, 19.29; Spain, 15.15; Greece, 1.30; Poland, 11.75; Czechoslovakia, 1 Jugosiavia, 1.76%; Austria, 14.12%; Rumania, .52; Argentina, 40.75; Brasfl, 11.93%; Tokio, 49.13%: 9. Moatreal, 99.03%. crown, Co.)