Evening Star Newspaper, December 7, 1926, Page 15

FINANCIAL, "~ COTTON 1S QUIET {N TRADING TODAY Market Fluctuates Within Narrow Limits—Cables Are Little Better. By the Associated Press. NEW YORK, December 7. — The cotton market was quiet in today's early trading. The opening was | steady at an advance of 3 points to a decline of 2 points. Liverpool cables were slightly bet- ter, than due on some positions but scarcely provided an incentive for local traders, while there seemed to have heen no change of sentiment as to the probable showing of tomor- row's crop ami ginning figures. January contracts fluctuated within g points’ of 11.86 during the first hour, the general market ruling ubout net unchanged to 2 polnts lower. vivate cables said there hud been covering and some Hombay buying in the Liverpool and that hedge selling there had been light. New Orleans Market NEW ORLEANS, December 7 (#). Trading in the cotton market today was quiet, with traders appearing to await the Government erop report, due tomorrow. After opening -steady prices eased off to 11.87 for December, 11.88 nuary and 12.04 for March. First . however, shewed gains of two » points. Liverpool cables were 1 due. Liverpool Quotations. POOL, December T (). —Cot i, fair demund: prices steady. dean striet_good middling, middling, 7.19 strict middling, middling striet_low mid: 6.00; 1 ing, . striet good ordinary, including 4.- 3.000 bales: closed .89 dling aquiet March, 6 tober, 6. MANY SHIPS ON WAY. RALTIMORE, Decamber 7 (Special). — Round to Baltimore and due to dock this week are 131 steamships and one sailing ship. The latter is the French bark Rio Liew. Two British round- the-world freighters. the City of Mel- hourne and the River Orontes, will have completed another circuit of the globe when they arrive, MERGER IS RUMORED. NEW YORK, December 7 UP).—Re. ports of the possible absorption of Newton Steel Co, by a subsidiary of General Motors Corporation have reached the financial district of Youngstown, i production being largely of highfy finished sheet stock for automobile uses. One of New- ton's chief customers is said to be Fisher Body Corporation, a General Motors subsidiary. St Washington Stock Exchange SALES Rwy tomac Electric pital Traction Co.— 1 203505 ai oy 4 e 4»—$500 at $1.000 at 101. 043, 10 af Washington Federal-American com.—20 at 323, Lanstan Monotspe—10 at 02%. 10 at 9275 20 at 92l 20 at 8215 Merchants' Tranefer ofd—30 at 101%. 0 at 10115, 10 at 10135, 10 at 10140 0 At 1015710 at 101 % Mergenthaler L National Mtge at 8% otype—4 at 105% . & Invest. pfd.—50 at 8%, AFTER CALL, oFotomac Electric com.”5+—$1.000 at National Mtge. & Invest. pfd.—40 at 834, a0’ tignal, Mige. & In p1d.—40 at 834 at 108, 100, 45—$1,000 at Potomac Electric Power pfd.—! Capital _Traction 5s—$1.000" at $1.000 at 100 " Washington Rwy. & Elec. AL B GmEaver nid otomac Electric Money—Call loans, 5 and 6 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. at 80, —$1.000 at 100, Amer. Tel. & Tega. 45... ... Amer. Tel. ‘& Telga. 4148 Am. Tel & Tel. ctl 105 3oz o Anacostia & Poi R’ K Ana & Pt eiar. bs Q& T Teleonone 5 = LS 22530250 355 o F %553 =3 SES3TL3352 & o Club @1an . < Dairy” §ig's p. . Mt 6a? outhern Bidg Waen. Mkt Cold Slorage 5. Wardman Park Hotel §1gn STOCKS. PUBLIC UTILITY. merican Tel. & Telza, anital Tracticn ashington Gas Norfolk & W. otomac Wash Wash i | { 3645 179 Sty Rwy Rwy NATIONAL National. Cupital Columbia 5 Con District . “armers & Mechanics cond o National Rank of Wash. @l TRUST COMPA merican Security & Trust ontinental Trust “rehants élnun.\] Savings & Sion : ash. Loan & Truist.. SAVINGS BA Commerce & Saviugs. East Washington Becurin ks & Cou eventh Streel 5 Try ited States... .. 0 Vashington Mechanios FIRE INSURANC! American e Soreoran . (remen's 2 Natonal Union - 3 TITLE INSURAN Columbia Title ... tate Title. fitle Tnv. of Md. com MISCELLANEOUS. e crity ashivgton ) e . Auto Mascots a Fad in Europe. Furope, has an aute maseot rage « | this year. THE EVENING STAR, WASHINGTON, D. C. TUE NEW YORK CURB MARKET Reccived by Private Wire BY WILLIAM F. HEFFERNAN. NEW YORK, December 7.—Public utility stocks held a prominent place in the improvement in the trading today on the Curb Market. Northern States Power class A was one of the favorites, extending its 3% point gain of vesterd: Buying of in the case of most other v, appeared to be in recog- nition of the fact that earnings are running at a substantially better rate than a year ago. Electric Investors was carried above the 40 level, Electric Bond and. Share was bid up a point at 68%, and American Gas and Electric was taken in large volume across 111, where it was more than a point higher. The market for sugar stocks was recelving its inspiration from the pronounced strength of the sugar futures market and the further ad- vances in refined sugar prices both here and abroad. Shates of Porto Rican companies, because of the fact that they are low cost producers, were favored in the buying. Fajardo Sugar reported a gain of three points, and Central Agulrre was bid up more than three points to a new high for the movement above 96, Oil shares were helped by the lat- est domestic crude oil statistics, which disclosed that during the week ended Following i a list of bonds and stocks_traded in on the New York Curb Market today. sal INDUSTRIALS. in' hundrads, . GAb Pick B vie 12% um_ Co : I Alum, Co g..... 71 75 szt s e RS ey o G Z) i PR REFRREE RS B OFE PISFEEE FESE & Do wasseaas SIOCEISEEUTIEES 1 Brazil X B Corn A Y Brill Corn 1. 1 BrivAm Tob o § Bidvn Teits R 'R 1 Brown & 1B X & 1 Celotex_Co 61 Con’ Awmirre 3 cen Pin 11 Comme m B E pfd Sk F SRS 28D, % e mes B NOa e B B D B E: o R C cf ixon Crucibl Die € € e Cie S mom & BT o B e BB e e s e k3B 1 o B A rod €. n Coal. 1 e B ETEFFR PEEE FESEEE F & SR F SNFE A ‘_ 100 B—D o 13 R B B0 E e e E BRI BB @ 02 R I e P ok B By ot Sy . - 253 P2 e 1] £az252 Eor e S53an us 3 Land H C A stpd BLand Co Fla... 11Lch Pow n.... 1 Leh Val C cfs. 1 Lib Owens Sh Gl1. 274h R Ch Stra. [ Py el ® D et o Shyes e SeSRES e e S O 19D e [, e o 0D > e et pere oS e S O D O DD O B AR S BOBE B! id W U pr iller Rub n_ptd Mohawk H Pow 1 Mohawk-Val n. . M Dr For A B B NS R & & » PPNt ettt ey & 3 2 SEERE I i m BosEad oy Shes Syl FEFS TR P FEE E RN R 13Pug 8 P &1 33 Raka Kard Bur 5 - Olsel TCA -t 2 B L L T T ) 192 S T et 30 FRrESE orp. . . o_Int T E A p 3 Sou Ln. 400 Sou P & L wa 18t Reg Pap ... Stand Com T.. tanley Co m iromb Carls Tel 3 2 Snia Vis 2 Sou Cal FEEFEE e FREGIE 8 S Zorasama < ZERNEReE2E San—o FARE FREEEE Py PSR PEEFEES R FRER FEESEET s A e S D D S DE B S BB HISI BNS PR T et et ISR T ) W E O EE e Sew Mach g J 8 Co.. 1 MINING STOCK Rigomy .;5‘ Yo Sales in hundreds. 2 Anglo Chil € alumet & Jer Carnegin Metal 58 Cons Cop Ming 10 C ev U 4 Cresson 30 Faleon "1 Golden Cen M... COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY ST. LOUIS, December 7.—The Mis- sourl Pacific Railroad will purchase new equipment costing approximately $13,000,000 for use on the Missouri Pacific Coast lines and on' the In- | ternational Great Northern. Forty- six new locomotives and 70 new all- Steel. passenger coaches are included, | as are dining and club cars and 3,220 freight cars. TALLULAH, TLa. — The Singer Manufacturing Co. has leased X1,000 acres of timber lands in Madison Par- |ish to the State ax a bird refuge in exchange for a promise of fire protec- | tion from the State. This is the fourth large tract of timberland, which the State now centrols as a refuge for wild lite. The three others aggregate 165,000 acres. H — | BOSTON. Inventory losses on cot- ton beught eurlier i the year and | carried by many large New England | mills will wipe out large portions of LT e Direct to The Star Office December 4, production fell below the record output established in the pre- vious week, averaging 2,876,748 bhar- rels dally, which represented a decline of 5805 daily. It was evident, how- ver. that those working for higher prices in this quarter were still ex- periencing difficulty in attracting a public following. Tropical olls gave the best account of themselves, and at intervals there was an urgent demand for Carib Syndicate. Venezuela Pe- troleum. Creole Syndicate and Ameri- can Maracaibo. High-priced specialties were fea- tured by another sharp runup’ In Johns Manville. At 171 the price com- pared with the previous finals of 166. Celotex issues made little or no re- sponse to the announcement that di- rectors had declared a quarterly di- vidend of cents on the common placing it only an annual $3 basis after payment of the 100 per cent atock dividend on October 1. Previous %o the stock divdend the common Was | on an annual $6 basis. Stockholders of record December 15 w 1l have the right to subscribe to two shares of preferred and one of common, at a price to be de 30 shares of common v P held, The subscription right will ex- 1. Hawthorne M 1 3 Kuy Cop Cor. 6 Nipisnng 30 Noranda . N Buti Red 180 Am Gold 30 Spearhea 1 Tono Belmont. 30 Tonopah ~Ext 30ni East Mis 1Uni Verde Ext. Sal i Riindreds. INDEPENDENT OIL § Am Con Oilfids. | 435 Am Muracuibo Co ¥ t Gun 7 ilco 80 1Y Ol : Sales STANDARD OIL in unite 200 Chesebrough Mg 78 1SSUES. fof the Winston Tobacco Association DECREASED TOBACCO | PRICE IS EXPECTED Better Grades of Leaf Likely to Appear in Southern Markets in Few Days. By the Associated Press. WINSTON-SALEM, N. C., Decem- ber 7.—With grades on the local to- bacco market today mostly of the darker varlety, prices were expected to be slightly lower than during recent days. More than a half million pounds were on the auction floors. The better grades are expected on the market during the next 10 days, however, as the executive committee has voted to close the market on De- cember 17 for the Christmas holidays. It will reopen January 4. Sales yesterday were 811,350 pounds, which averaged $22.12 a hundred. DANVILLE, Va., December 7 (#) With nearly 800,000 pounds of leaf sold yesterday at nine leaf warehouses, the "Danville market fuced another busy day today, with four sales run ning at top speed, being manitestly un- able to meet the total deliveries. 3 price level here is showing no change and is standing at the $27 per hundred pounds figure LYNCHBURG, Va., December 7 (#). ——Sales of tobacco on the dark loose leaf market here today aggregated 125,000 pounds, the average price approximating $7.50. The average yesterday was $7.81, which is around $12 less than prices prevailing a year ago. HOME OWNERS MERCHANTS AND MINERS LINE TO PAY DIVIDEND Special Dispatch to The Star. | December 7.—Stock- holders of record of the Merchants and Miners Transportation Co. as of December 15 will receive, on Decem- ber 31, the usual quarterly dividend of 6215 cents a share. Although the company will not fare | as well this year in the matter of earnings as it did in 1925, surplus earnings for the 12 months endimg December 31 promise to be at least double the dividend requirements. Freight business now is just as heavy as it was at this time a year ago, but there is a decided drop in passenger traffic_on account of the collapse of the Florida land boom. LARGE SOAP MERGER | PLANS ARE ANNOUNCED CHICAGO, December 7, (#).—Tenta- tive plans for the consolidation of the Palm Olive Soap Co., large manufac- turers of toilet soap, and the Peet Brothers (o., manufacturers of laun- dry soaps, were announced here last night by Charles S. Pearce, president of the Palm Olive Co., whose head- quarters are here. The proposal has been submitted to stockholders for a vote December 17. The capitalizition and assets of the proposed company will be around $45,- 000,000, The stocks of both compa- nies are closely held, there being about 400 stockholders in the Peet Brothers Co. and considerably les: the Palm Olive. Continental Trust Co. 14th and H Streets Capital $1,000,000.00 Checking Accounts Savings Accounts e Deposits Foreign Exchange Commercial Credits Travelers’ Credits Travelers’ Cheques Over 8Y2% Yield SAFE and DEPENDABLE Collateral Trustee Certificates OF THE NEW ENGLAND INVESTMENT TRUST, INC. 1000 Contl Ofl n 2 by 12 1 S a2 300 Humble 0'& R.. p8 1100 Imp O of Can 1 38 i1 314 B 171 5018 126 an W 45 ¢ Gal 8 O 20 400 Oblo Ofl ... 200 Peun Mex Fuel.. 80O Prairie 0 & G n 350 Prairie P L.... 200 South Penn O 'n' 2800870 Ind .. g o g oty SEnEZRIES 0 282! 8514 21% 119 % =23 oho0e500swessa0 B2 RI5232TRINRR=]3 F R # SRSSRE SRRRSES Y 333 ahy 514 e pr B 08 A 104 Fiat 7w y ot e A Thao me AR Peow fn GB% UBY 3 Long Tel T4, e 104 17 Manl Pow L9 $Hmemaie 2 t Gas e 2 Midwest Gas 1a'A 100 Nat P & a Pu S 148 igen » o o Dopies 20 CET 0T PTTSIBRIN UPR SR SE P P P ] £ 3w & t B 2. a0 gocSa womt S 401 500 10 16a: 101 T 6% 103 % Sales in FOREIGN BONDS. thousands. 17 Baden 7 1 Bue Airea 2332388800 e00s S5 S RESES22ER32838522333% EETPLERITRERE FEPISEE WALL STREET BRIEFS the profits of certain corporations for The Otis Co. 18 understood | to have an inventory | $212,000, while the | are sald to have marked off $338,. §01, due to cotton price declines. and quaint and attractive figures are mounted on nearly every car. Models of St. Catherine, the travelers' patron saint, which have been popular as decorations on hoods of cars in France for some time, now are ap- pearing ax Statues or placques thut may be uttached 1o the steering wheel. In England a ruce horse owner has on top of his radiator & DETROIT.—The Paige-Detroit Mo- |tor Car Co. has scheduled 1,200 cars for shipment during December. This !In 200 more than were shipped in No- | vember. On December 1, dealers had on hand approximately 5,000 cars. This is well under normal. CHICAGO.—The volume of trade in fresh rk products is good. Pork cuts of light weight are plentiful and well modeled horse with a jockey clad in the colors of the owner. Dealers carry more than 200 designs in mas- gots, some of which are priced at §100. heavy cuts, which were & .drug on *the market, are in lighter mgpp!x. For elgn trade is confined «nj-fi to lard. NEW YORK, December 7 (#).— shrinkage of | W. B. Storey, president of the Atchi. | Wamsutta mills | son, Topeka & Santa Fe, said he knew | | of no plans’for financing in connec- {tion with its capital expenditures for 11827, and what the budget would be | could not yvet be estimated. Directors | | meet today for action on the regular iaemimnnull preferred dividend of | $2.50. John F. Fletcher, for 20 years with the Harbison-Walker Refractories Co., has been elected vice president, suc- | ceeding the late Hamiiton Stewart, iWhm place on the board was filled by Arthur E. Braun, president of the Farmers' Deposit . National Bank of Pittshurgh. Federal National Bank of Boston, Trustee These certificates represent a participat. Ing ownership in 80 dividend-paying cor- orations—stocks listed on the New Vork Stock Exchnnge—embracing every important indust: U. S. St eel G Consolidated Gas Standard Oils Kennecott Copper Atchison R. R. ld n‘n Il-h I‘ corpora- & (hele manage. the b na ailable. ogklei—tProfitable _ Investment Diversification’ contains | Vit infereat (o the; Viel v copy today. pr wbligation. Acceptance Credits Collections Real Estate Loans Collateral Loans Investment Securities * Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets Capital $1,000,000.00 ¥ [wvagTMENT Securimies WOODWARD BUILBINO . WABHINGTON. D.C. Provident Mutual Life Insurance Company Funds to Loan In Small or Large Amounts at 5% Per cent. WM. H. SAUNDERS CO., Inc. Realtors 1433 K St. NW. Main 1016-7 SDAY, DECEMBER Secn Joseph !. Welle 7, 1926. Money to Loan ured b firy Frosiiine dpiert and commiasi 1 Wi er sy Guaranteed Real Estate First Mortgages A safe investment. Secured by a first mortgage on im- proved, ideally situated prop- erty. And yielding 6%% in- terest. Maturities 6 months to 3 years. Our service to you insure prompt payment of interest semi-annually. Mortgage Bond & Guaranty Corpn. 1006 Vermont Ave. N.W. of Distri Five Mill Tax MATURITIES: 2 TO 12 YEARS Capltal & Surplus Over $9,000,000 17th and H Streets, N. W. Please send me, without obligation, complete information _ regarding the 6/47 Bonds you are offering. The New York Life Insurance Company Offers First Mortgage Loans On Tmproved Real Estate in the District of Columbia and Nearby Suburbs in Montgomery County, Maryland 3 Years, 5 Years, 10 Years Homes B9 v lecd of trust on real estate 2>\ % 2.2 RANDALL:-E. HAGNER«® COMPANY Incorporated ‘MORTGAGE LoAN GORRESPONDENT 1321 Connecticut Avenue Telephone Main 9700 today. ' BSTABLISHED 1882 How To Invest $1,000 - To Net $60 A Year . «Y HAVE $1,000 to invest. How can I place it to good interest rate and be assured of — ~— Safety of pfinc{pal 3 — Prompt and sure payment of principal arfd interest in cash; — Freedom from worry, constant watching, and red tape; and ~— The sponsorship and recommendation of a House of known financial responsibility, wide experience, and mature judgment?” For many years this has been a common investment problem, and it is one which thousands are facing New Straus bond issues afford a satisfactory answer to this problem. Most maturities yield 6% — $60 a year on each $1,000. Other maturities will net you $57.50 to $62.50 per $1,000. Investigate these safe bonds. Call or write for BOOKLET 434-G estate security. - INVESTMENT BONDS “ 929 FIFTEENTH STREET Telephone Main 5847 WASHINGTON geta The Straus Hallmark o:‘:!bondmmpc it at once as the premier S.W.STRAUS & CO. INCORPORATED 44 YEARS WITHOUT LOSS TO ANY INVESTOR | FINANCIAL. Heed the Example Set by Successful Financial Executives Successful investment need not necessitate the “Blazing of a Profitable Investment Path.” It is simply a matter of following the advice and tactics of already successful men. You will find that a large majority have a goodly portion of their financial surplus invested in First Mortgage Notes Capital & Surplus $3,000,000 An Excellent Gift Hint Let us suggest a Bank Book, showing a deposit at this old institution, by way of a gift, for your son or daughter. “Such a gift will help them . get a right start—instill habits of thrift—insure many a Merry Xmas in time to come. fiSame Rate of Interest paid on small and large aceounts. National Savings & Trust Co. 59th Oldest Savings Institution in the District of Columbia Year Cor. 15th and New York Ave. Automobile Mefchants A one of the largest manufacturers in the World. Requirements are as follows: Financial Ability to properly represent this Company, Previous Experi- ence in any reputable line of business and a good community reputation. : We will consider applications for the followingj franc}lis:s: Georgetown, D. C. Connecticut Ave., D. C. Rockville, Md. Hyattsville, Md. Lfl“rel; Md- Anacostia, D. C. Address All Communications TO BOX 26-V, STAR OFFICE Harriman & Company TRINITY BUILDING, 111 Broadway, NEW YORK MEMBERS NEW YORK STOCK EXCHANGE TRANSACT A GENERAL BROKERAGE AND STOCK CHANGE BUSIN. BRANCH OFFICES THE BILTMORE, HOTEL COMMODORE, '+ 44th St. and Madison Avenue. 42nd St. & Lexington Avenue, PROVIDENCE-BILTMORE, Westchester Biltmore Country Providence, Rhode Island. Clabilyes New iare GUNTHER BUILDING, 928 MARKET STREET, Wilmington, Delaware. Fayette & St. Paul Streets, AR S Baltimore, Maryland. 5 S Paterson, New Jersey. WASHINGTON OFFICE 729 15th Street N.W. Telephone: Main 1603 Also Divect Wires to CLEVELAND, OHIO, end DETROIT, MICHIGAN profltable connection can be made to represent’ FARES T MORTGAGT TIME AND A GAIN It takes time to enjoy the har- vest of any conservative invest- ment. “Overnight” fortunes too. often are swept away the “next night.” : For investors who look at in-" vestment logically, with the realization that only after their principal is definitely secured can they reasonably expect reg- ular interest, and that only through regular interest does investfment become gainfully worth while, we offer our safe 6'2% FIRST MORTGAGES A Third of a Century Without a Loss B. F. SAUL CO. Main 2100 925 15th St. N.V THERE IS NO SUBSTITUTE FOR SAFETY