Evening Star Newspaper, December 14, 1926, Page 14

L e TRACTION STOCKS MARKET LEADERS Upward. Drift Predominates, But Price Changes Are Confused. BY STUART P. WEST. Special Dii NEW YORK, changes were i 14.—Price goud deal confused on the Stock Exchange today, but the upward drift predominated. Follow ing the process of taking up mnew roups, the Greater New York trac- tions came into prominence. Wall Street interpreted the announcement that the State Transit Commission was | ~oing ahead with its own plan for olving the transportation problem ir New York City as distinctly favor- able, ey Brooklyn Manhattan Transit sold at @ new high for the year and Inter boro Rapid Transit reached top fig ures. The fact that the dividend or | Manhattan Elevated under the modi- fied guarantee was only recently pos poned did not prevent that stock from joining with the rest. Hudson and Manhattan, which usually move with the tractions, although for no logical reason, made a new high for 1926. South Porto Rico Sugar and Great Western Sugar sold at new high tops for the vear and were easily the lead FINANCIAL, n. High. Ope ADbitibi Pow (4). 88 88 Abrahm&Straus. 60% Abr&Stras 7%pt 112 Adams Exp (6).. 128 Adv Rumley.... 9y Ad Rumleypf(3) 34y Ahumada(t60c). 5% Air Reductn(16) 145% Ajax Rubber.... 714 Alaska Junea. . . 1% Albny Pap pf(7). 100 Allied Chem (4). 140 Allied Cm pf (7). 122% Allis Chalm (6). g9y, Allis Chal pf (7). 111% Amal Leather, 17% Amal Lthr pf/ Amerada(2). . Am Agricul Chm Am Agri Ch pt. Am Bank N (13) . Am Bk Not pf(3) Am Bosch. .. ... Am Brake Sh(6) Am Br BovEIl(2) Am Br Bo pf (7) Am Can (2) Am Car&Fdy Am Chain A" (2). 13% 48% 42% 96% 521% 104% 25% 37% . % Am Express (6). 129% Am & For Pow.. 18 Am Ice (110). Am Internatl. .. Am La Fr (1) Am Linsced. . 31 Am Locomot (8) 109% Am Metals (4).. 45% ers of the sugar group. Prices con ce in the market for | <. The manner in| ir market has held its | last month is proof o' | Steel, which “hind the v | Am erally strong, espe: | which at one time was up over aj point. As a rule, however, teel | independents were not activ the copper again. Other Copper. Atchison rails. The street is more.convinced than ever that a big stock dividend is in prospect. Atchison is, of course, selling far out of line, according to its present dividend. The idea is that part of the big savings which have been piled up year by vear are to be capitalized for the benefit of sharve- holder: Baldwin Locomotive, taking a fresh start, moved ahead violently. Pull- an was very strong and so were American Locomotive and Lima Lo- comotive. The Lima Co. is said to have earned its full year dividend in the first seven months, a much better record than that of some of the other equipments. Loose Wiles sold at a new high for the year on talk of a capital split-up early in 1927. United States Rubber was actively bought at advancing prices. A capital readjust- ment which would be attractive to shareholders is again being discussed in connection with the rise in Ameri- can Ice. WHEAT VALUES WEAK ON LIVERPOOL NEW Chicago Market Shows Little Pow- er to Rally After Opening Decline Today. was the feature of the By the Associated Press. CHICAGO, December 14.—Wheat prices here showed an early down. ward trend today, largely as a result of Liverpool quotations lower than due, European advices of cheaper offerings of wheat from Argentina counted, too, as a bearish factor. Starting % to 1 off, the Chicago wheat market displayed but little power to rally. Corn, oats and provi- sions were also easier, corn opening to % down, and subsequently sagging a little more. Notwithstanding that the United States wheat visible supply shows an unexpected big decrease, it was con- tended in various quarters today that the world wheat situation is distinctly in favor of lower prices. -In this con- nection, it was pointed out that the North American visible supply total and the world’s available supply fig- ures, as well as other data give evi- dence of abundant stocks, especially the Southern Hemisphere surplus.. According to one leading authority here, the unexpected shrinkage of the United. ‘States wheat visible supply total is largely owing to annual ad justment at the close of lake naviga- tion. In this process a number of cargoes are apparently eliminated, be- ing transferred to Georgian Bay and other lake ports on the Canadian side. In raality, however, substantial excess supplies above world need continue. R RN s TOBACCO SALES HEAVY. Danville and Winston-Salem Mar- kets Busy This Week. WINSTON-SALEM, N. C., Decem- ber 14 (#).—The Winston-Salem auction leaf tobacco market is coming back strong during the present week, the last week of sales until after the Christmas holidays. Monday 500,938 pounds sold for $113,121.27, an average of $22.58 per hundred. About 750,000 pounds is expected to be sold today, which will be the largest in several days. The average is remaining steady around $22. DANVILLE, Va., December 14 (P).—Danville was again tobacco flooded today, with probably more leaf on hand than at any other time in the market’s history. Estimates ran 1s high as a million and a_ quarter sounds. The volume is sufficient to keep the nine warehouses in full cry until Friday night when the market closes for Christmas. With the cessa- tion of rain and a sudden elevation in temperature, wagons and motors poured into Danville late yesterday, ~ausing traffic conditions ~requiring the cutting off of certain areas from he regular flow of vehicles. Traffic officers were out at 3 o'clock this norning trying to bring some order »ut of vehicular chaos. Sales today should run to approximately 900,000 Jounds. . NEW YORK PRODUCE. NEW YORK, December 14 (Spe- clal) —Sales on bulk white state cabbage were made on the basis of $30-$35 per ton. The red varlety ranged from $40-$50. Fresh receipts of barreled apples were limited. Hudson Valley, grade A, 2%-inch Baldwins, wholesaled at high at $350 and as low as $2.25. Northern Spys ranged from $4 to $6. Rhode Island Greeniogs, $2.50 to $4. Western New York golden self blanching celery, In the rough, ped- dled out at $2 to $2.50 per two-third crate on the best and from $1 to $1.75 for off grade. Californis large crates realized from $4 to §6. Upstate bulk round white potatoes jobbed out chiefly at $4.75 to $4. AmPo& Lt (11) 63% Am Radiator(5). Am Republl Am Safty R ( Am Ship & Co elting & R pf Am Snuff (12). Am St Fa; m Sugar (5)... Am Sugar pf (7) Am Sumatra. AmTel&Ca(3). 29 Am Tel & Tel(9) 150 Am Tobacco (8). 121% Am Tobacco B (8 119% Am Wa Wocl.20 64 Am W W 1st (7). 106% Am Woolen .... Am Wool pf (7). Am Writ Pa pf. . Am Zine. . S Am Zine pf. Anaconda (3) Archer-Daniel Arch-Dan pf (7). ArmourDel pf(7) Armour of T11(A) Armour of 111(B) Arnold Con&Co. . Artloom (3)..... 52% Artloom pf (7).. 106% Asso Dry G(2%) 45% Asso D G 1st(6). 101% Asso DG 24 (7). 106 Atchison (7).... 160% Atchison pf (5). 101 AtIBirm & At... % Atlant C L (110) 210% AtlCoast Lirts.. 17% Atl Gulf & WI... Atl Gulf&WI pf. Atlantic Refing Austin-Nichols. . ustin Nic pf(7) uto Knitter. ... Baldwin L (7) Balto & Ohio ( Bang & Ar (3).. Barnsdall A (2). Barnsdall B (2). Bayuk Cigar.... Beech-Nut (13). Belding Bros(3).. 28% Bethlehem Steel. 47 Beth St1pf (7).. 104% Bloomingdaie. 37% Booth Fisheri % Botany A (4).. Briggs Mfg (3) Brunswick Balk. Brunswick Ter. . Bkin-Edison (8). 1564% Bikn-Mn Tr (4). 76% Bk Man T pf(6). £8 Bkin Un G(111). 95% Burroughs (f4). 121 Bush Terminal.. 27 Butte&Super(2). 12% By-Products (2). 78% Calif Packg(4).. 70% Calif Petrol(2).. 381 Callahan Zinc... 1% Calumet & Ar(6) 68% Calumet&H(1%) 16 Can Dry (c2%). 37 Can Pacific (10). 164 Case Threshing. 166 Case Thr pf (7).. 112% Central Alloy(2) 81 Cent Leather pf. 51% 62 Cent Lea pfetfs. 51% b51% Cen Ry NJ(112). 200 290 Century Rib M.. .12 12% Cerro dePaa(t5). Certain-Teed (4), Chand-Cleve..... Chandler pf(23%) 24% 24% Ches & Ohlo (112 164% 164% Chi& Alton..... b% 5% Chi & Alton pf. . 109% 40 % a1 106% 93y 16% 9 24% 9 24% 53% 106% 46% 102 108 . 161% 101% 17% 40 39% 111% 11% 65% % 163% 108 45 167% 107% 45 28 26 50% 59 Chi & Nwn (4).. Chi Pneu T(5).. 118% 118% ChiRI&Pac... 69% 69% CRI&P (6). 96 956% CRI&P DI (7). 104% 104% Childs ($2.40)... . 50% B0% Chile Cop (2%).. 6% 6% Christie B (1.20) 36% 86% Chrysler Corpis) 44 44% Chrysler pfA(8). 106% 106% Cluett Peab (5).. 61% 61% Coca-Cola (7)... 169% 170 Collins & Alk(4). 59% 60 Collins&A pf (7) 118% 120 Col Fuel & Iron.. 45% 46% Col Sou 2d pf(4). 68 68 ColGasrts...... 3 3 Col Gas new (5). 88% 88% Col G&E pf A(8) 101% 10i% Col Carbon (4).. €9% T0% Com Credit (1).. 18% 18% Com Solv B (8).. 228% 230% Congoleum N... 19% 19% Congress Cgr(8) B6% Con Cigars (7).. 86 874 Consol Distribut 1% 1% Consol Gas (5).. 112% 112 ConRRCubapf 6 171% 172 Consol Textile... 3% 3% Cont Bake A (8). 70 70 Cont Baking B.. 9% 9% Cont Bak pf (8). 93 93% Cont Can (6)... 75 75% Cont Insur (6).. 141 141 Cont Mot (80c).. 117 11% Corn Prod(t2%) B1% 51% Coty Inc (4) 60% 61% Crown Pa 1 98% 98% Crucible Stl (5). 80% 82 Crucible pf (7).. 108% 104 CubaCaneSugar. 10% 10% Cuba Cane Su pf. 49% Cuba Co (4) .. Cuba RR (6). Cuban Am S (1). Cuban-Dom Sug. Cudahy (new).. Cushman’s (8) Cuyamel Fruit Davison Chem. .. Del & Hud (9). 55% 6! 174% 44 44 DRG Wstpf... ‘137% 138 Detroit Ed (8). Detroft Edrts... 3% 3% Devoe & R(2.40). 39 39% Devoe&R 1s8t(7). 105% 103% Dodge BrosClA. 28 29 Dodge pf (7) 85 86% Dome Mines .12 12 Doug-Pec (12%4) 44 44 Dul SS& Atipf. 4 4 Du Pont (112).. 170% 127% Du Pont deb (6). 109% 109% Duquesne pf (7). 115% 115% Eastman (18)... 123% 124 Isaton Axle ( % 26% 180 pounds. Long Island Creen Mountains brought around $6 —_— Men's shoes now may be bought Germany at $1.20 a palr, El AutoLt(t6%) 66% 66% | Electric Boat... 124 12% Elec Power & Lt. 18% 1%% Elec P&LDI(T} 97% 97% % % 211% 209 290 12 66% . Low. 87 -24% 52% 106% 45% 101% 106 160 101 17% 109& 1 684% % 166% 107% 44% 26 51% b1% 290 __THE EVENING STAR, WASHINGTON, D. C., TUESDAY, DECEMBER 14, 1926. [ v BONDS somcmer] Recelved by Private Wire Direct to The | Elec Refrig (s2) Elec Sto Bat(16) End-Joka (5)... Engineers Pub S Engnrs PS pf(7) Equitable pf (7). Erie R R. Erfelstpf.... Erfe2dpf...... Erie Stm S(23%). Eureka Vac (4). Exchange (13). Falrbanks (3)... Famous PI (J8). Famous pf (8).. FedLight(*1.40) Fed Min pf (7). . Fed Mot T (18(¢) Fid Phoenix (6). Fifth Ave (6ic). FIrstNP 1stt9.44 -Fiist Nat S(1%) Fiuk Rubber. Fisk 1st pf (7).. Fleischmn t215 . Foundation (8). Fox Film A (1).. Freeport.Texas. Gabriel Sn (3%) Gardner Motoj Gen Am Tnk Gen ATC pf (7 Gen Asphalt. .. . Gen Asph pf (5). Gen Cigars (4) Gen Elec (h3). GenElec sp(60c) Gen Gas A(ells) Gen Gas (B). ... Gen Motor(t11). Gen Mot pf (7). Gen Outdr Ad(2) Gen Outdr A (). Gen Ry Sig t53;. Gen Refrac (3). , Glmbel Bros. Glidden (2) Gold Du. Goodrich Ru ( Gtodrich pf (7 Goodyear pf (7). Gothm S H(213). Gotham new 214, Gotham pf (7). 4) ) Gould Coupler A Granby Consol. . Grt North pf (5). Gt NrOre(t133). Grt Westn Su (8) Green Canan. Guantanamo. Gulf Mo & Nor. . Gu M & N pf (6). Guif States (5). . HartmnB (k4.40) Hayes Wh(t3%) Hays W pf(7%). Helme G W (17) Houston Ol....... Howe Sound (4). Hud Man (2%).. Hud Man pf (5). Hudson Mo(3%) Hup Mot (1.40).. ilinots Cen (7).. Indep Ol (1). IndianRefg ctfs. Inland St (2%). . % | Inland Stl pf (7). Inspiration (2).. Interbor Rap Tr. Intcontl Rub(1). Internat Agri... In Ag Cprpf(7). Int Bus Ma 13 % Int Cement (4). ;| Int Cement pt(7) Int Com Eng (2). Int Harv (36)... Inter Har pf (7). IntMtch pf(3.20) Int Mer Marine. . Int Mer Mar pf. Int Nickel (2) Int Paper (2) Int Paper pf ( Int Tel & Tel (6) Intertype (t1%). Jewel Tea. Jones Bros Jordan Motor... Kan City Squth.. Kan CSo pf (4). Kansas & Gulf. . Kayser J (3). Kelly-Spring. Kelsey Whi (6) Kennecott C (5). Kinney G R (4).. Kraft (11%)... Kresge S8(1.20). Lago Ol & Tran. Lambert Co (5). Lee Tire & Rub. . 6% Lehigh Val((#5) 103% 106% Leh&Fink stf(3) Life Sav (1.60).. Liggett & M(t4). Lig& M B (14).. Lima Loco (4).. Liq Carb (3.60 % | Loew’s Inc ( Long Bell A (4). Loose Wiles. . .. Lorrillard (§8) Loulsiana Oil. .. La O11 pf (6%). % LoulsGasA (1.75) 82 824 118% 118% €9 6 85 954 104% 104% 18% 18% 54% 66% Eb% 8T% 1% 1% 110% 110% % % 33 33% 26% 26% 174 174 DelL & W (17).. 145% “5%.!:2% 1:55 4 T38% 138 3% 3 39 894 103% 108% 28 28y 8 85 1% 11% 4w 4 4 170% 172 109 109 115% 115% 128% 124 in' Ep&Lpt 40%(7) 106 105 105 Lou&Nash(16%) Ludlum Steel(2) McCrory (11.60) . McCroryB(11.60) Mack Trucks (6) Macy HR & Co Magma Cop (3) Mallison & Co Manati Sugar Manati Sugar pf. Man E1 Sup (5).. Man El m g (D) Man Shirt (1%). Maracaibo Oil. .. Market Street Market St pf. Market St prior. Marland Oil (4). Marln Rock 2% Martin-Pary (2) . Mathieson (4)... May Dept St (8). Maytag Co (2).. MetroG pf(1.89). Mexican Seabd. . Miami Cop. (1). Mid-Continent. Middle States. .. Mid States Oll ct Midland pf(112). Miller Rub (2).. Min St P & SSM. Mo Kan & Tex. .. MoK &'T pf (6). Missouri Pacific. MissouriPac pf. . Montana Pow (5) Montgmry W(4). Moon Mot (1%) . Mothr Lode(76¢) Motor Met(3.60) . Motor Whi (2). Mullins Body. .. Mullins B pf (8). Murray Body. ... Nash Mot 13% Natl Acme...... Nat Bisc¢u(t6%) Nat Biscu pt (7) Nat Cash R(A)3. Nat Cloak & Suit Nat Cloak pf (7). Nat Dairy (3)... Nat Dpt Stores Nat Distlllers. .. Nat Distillers pf Nat Lead (8).... NatPw&Lt(80c). Nat Ry Mex 2d.. Nat Supply (16). Nevada C (1%). NY Alr Brake(2) N Y Canners. ... NY Central (7).. NY Chi&StL(11) NYC&SLL pf(6) . NY DocK........ NY & Harl (5). | NY NH & Hart.. NY Ont & West.. NY Rys part cfs. NY State Rys. .. Niag Fpf (1%). Norf & W (110) . NthAm b10% stk North Am pf(3). NorAm Ed pf(7). North Pac (5)... 1955 165 100 30 16% 28 128 38% 6% 43 81% 16% 96 24% 82% 138% 2% % 116 28% 160%: 160% 160 48 50% 6% 81% 123 40 110% 2T% 9% 86 68% 44% 60 57% 21% 69% 6% 38% 24% 4 173% Loose W 2d (7).. 172 17 82 82 138% 137% 187% 22% 3 32% 84% 96% 88% 138% 193 102% 38% 180 487 24% 19% 14 29% 48% 50% 961 81% % % 116 116 4 83 NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office 6% | Texas Co (3).... 22% 22% 24% 2% 82% 34% 96% 38% 187% 193 102% 33% 179% 43% 48% 23% 28% 17 19 14 14 287, 29% 160 47% 48 50% 50% 96% 961 804 80 Std Of1 Cal $2% . Norwalk Tire. .. Ofl Well Sup (2) Omnibus. Onyx Hos (3.20). Opnhm, Col (4).. Orpheum Cir(2) . Otis Elevator (6) 134% Otis Steel 8% Outlet Co (14). 50% Outlet Co pf (7). 106% Owens Bot (c16) Pac Ol Stubs. .. Packard (12.90). Paige Motor. ... Pan-Am (6). Pan-Am B (6). Pan-AmWnB (2). Panhandle. ... Park & Tiiford. Park Utah (60c). Pathe Ex (c3) Peerless Mot. . Penick&Ford (1) Pa Dixie Ct(80¢) Pa Dix Ct pf (7). Penna R R (3%) Penn-Seab Steel. Peoples Gas (8). Pere Marq ({8) Pere Marq pf Pere M prior(5). Phila& RC& T Philip Morris Phillips-Jon (4). Phillips Pet (3). Pierce-Arrow Pierce-Ar pf (8). Pierce Oil. . . Plerce O11 pf. . Pierce Petrolm. Pitts St pf (7) Pitts Term Co Pitts & W Va(6) Postum (5) Prod & Refiners. Pub Serv NJ (2). Pub Serv pf (6). Tullman Co (8).. Punta Ales Sug. Pure Oil (12%) Purity Bak A (3 Purity Bak (E Purity Bak pf(7) & S1% 16% 36 68% 31% 31% 134 134 8% 8% 650% 51% 1063 1061 BBl 89% 1% 2% 31 37 12% 8 63% 63% 63% 637% 260 6% 16% 16% 22 22 6 6 42% 43% 29 29% o 23% 38 99 06% % 128% 128% %+ 118% 118% ). 88 92% 42% 38% 49% 56% 24% 110 18% 324 99 99 189 190 48% 48% 2% 27% 47% 4T 43 48 101% 101% 58% 18% 8215 Radio Corp of A. 58 Radio C pf ( RSTICefs (4) Ray Copper(2ic) Reading (4). Reading rts. . . Reading 2d (2) Real Silk Hose. . Retd Ice Crm (3) Remington Type Replogle Steel. . . Rep I & St1 (4). Rep 1 &S pf (7). Reynolds Spngs. Rey Tobac B(5). Robt Reis & Co Rossia Ins (6)... Royal D (a3.078) Rutland pf...... Safety Cable (4) St Joseph L(13). StL & SanFr (7). StL&San F pf(6) St L Southwest. . Savage Arms. .. Schuilte (§8).... Seaboard Air L. . Seab Air Lipf... Seagrave(e1.20). Sears-R (n2%). Seneca Copper. . Shattuck F G(2) Shell Unfon (12) Shubert The (5). Simmons($2.25) . Simms Pet (1).. Sinclair Of1 . Sinclair pf (8).. Skelly Ofl (2)... Sloss-Sheft (6). . South Port 8 (6). Sou Calif Ed (2). Sou Dairles A(4) Sou Dairfes B... South Pac (6) Southern Ry (7). Southern Ry rt: Spicer Mfg. Std Gas & E1g3. Std G & El pf(4) Std Millg pf (6). 42% 42% 42% 43 119% 119% 10 10 80 80 49% 49% 50 50 58 53 40% 40% 102 102% 9% 95 61% 61% 70 70 48 48% 38% 33% 38 38 13% 13% 66% E6% 3% 3% 64 64 29% 2% 60% 60% 118 118% % Kl 28 23 56% 66 56% 56% 83 88 B57% 68 37% 88 %, 2 2 115% 116% 82% 82% 3% 4 93 93 66% 6% 53% 53 85% 56% 2% 2% 4% 6% 26 26 14 14 4% 4% 18% 13% 10% 10% 56% b7% 56% 574 49% 49% Std Ofl NI (11%) Std Oil of NJ rts Std O11 NJ pf(7). Std Ol NY(1.60) Std Plate Glass. Sterling Prod(5) Stewart War (6). Stromberg (6) . Studebaker (5).. Submarine Boat. Superior Ofl. ... Superior St1(2) .. Sweets of Amer. Symington. . Symington A(2) . Tenn Copper (1). ‘Texas Corpn (3) Tex Gulf Sul (4) Tex & Pacific. 52 524 Tex & Pac C& 0. 14% 14% 14% 14% Texas Ld Tr(8). 1425 1440 1350 18560 The Fair (2.40).. 2T% 27% 27% 2T Third Avenue..." 87% 37% Tide W Oil pf(6) 8% 89% Timken (15).... 7914 Tobac Prod (7).. 109% Tob Prod A (7) 114% ‘Transcont Ofl. ., 3% Underwood (4).. 48 Un Bag & Paper. 45 Union Carb (8).. 94% UnOil(2)...... Un Pacific (10).. Un Pacific pf(4). Utd Cigar 8 (c2). Utd Drug (8)... UtdDrg 1st(3%) United Fruit (4). U & Distributing S Hoft (13%). 1nd Alcohol. Ind Al pt(7). Realty (4).. Rubber..... Rub 1st (3). Smelt (33%). Smpf (3%). U SSteel (7).... U S Steel pf (7). Universal Pipe. . Univ Pipe pf (7). Ut PRLL A (e2). Vanadium (4).. Van Raalte. . Vick Chemical. Va-Caro Chem. . Va-Car Ch 6% pf dacaaddd % | vivadou (3) Vivadou pf ‘Wabash pt A(5). Waldorf (1%)-- Walworth (1). Ward Baking B ‘Ward Bak pf (7). Warner Bros. . . . Warren Bros(t5) Weber (4)...... West Elec pf(7). W Penn E1A (7). West Maryland ‘West Md 2d pf. West gnclfl:}m West Pac pf (6). Westhse AirB 18 142% Westinghse (4). 68% Weston Eleo. 16 Wheel & L Erie Wheel & LEp?. . White Eagle (2). ‘White Mot (4. . White Rock (2). ‘White SM pt(4).- Wickwire ctfs. ... Willys-Overland willys Od pf (7) wilson & Co. Wwilson & Co(A). Wilson&Co pf(7) Woolworth (16). 191% Worthn Pump. .. 22 ‘Wortn Pump(A) Wortn Pump(B) Wright Aero (1). Yale & Tne_l(gfi)). ellow Tr (75¢) . Foungatown (4), 8% Bk urly Sales on N. Y. Market. nl:.‘:n. i 684,400 12 n..1,095.500 1pm. 1426000 2pm. 1,780,600 S o Bt SIL’V—EB QUOTATION. NEW YORK, December 14 (P).— Bar sllver, b3%; Mexican dollars, THREE D. C. BANKS DECLARE DIVIDENDS Stocks on Washington Ex- change Hold Firm—Trad- ing Is Light Today. BY EDWARD C. STONE. Three Washington banks have just declared dividends, the Bank of Com- merce & Savings, McLachlen Banking Corporation and the Chevy Chase Savings Bank. ¢ The directors of the Bank of Com- merce & Savings have declared the usual semi-annual dividend of 4 per cent, pavable on Janudry 2 to stock- holders of record on December 20. At this meeting steady progress on the bank’s extensive alterations was re- ported, it now being planned to open the renovated banking quarters to the public with n special reception about uary 15. The McLachlen directors voted the regular semi-annual disbursement of 3 per cent and also made two im- portant promotions vy D. Cow! was elected assistant treasurer and E. L. W. Goldney was made auditor. At the meeting of the directors of the Chevy Chase Savings Bank the usual semi-annual dividend of 2 per cent was declared. What the direc- tors consider a remarkable gain_ in busine: s also reported. The progress since It moved into ndsome new building sederal ago has been most gratifying. Mountioy, Washington repr tive of the American Bankers' ation, has returned f where he atten Continent Fiduclary which the delegates consisted of trust officers and_senfor bank officers from 20 States. Mr. Mountjoy reports that all the addresses were on subjects re lating to trust work. Among the topics dlscussed were “Relations With Beneflciaries,” “Corporate and Bus ness Trusteeships,” “Life Insuran: Trusts,” ““Co-operation Between Banks and Insurance Underwriters,” ‘“‘Safe- guarding the Handling of Securities,” “Taxation,” “Danger Signals to Be Observed in Trust Investments” and “Fiduciary Accounting.” Life insurance trusts are growing in popularity as their value becomes more generally understood, and th were discussed freely with numerous insurance underwriters and :gents. The attendance and enthusiasm brought all trust matters to the front in 4 very practical way. Detroit and Minneapolis want the next convention. $2.50 Gold Pieces Limited. For the first time in years, the Treasury Department has minted a limited ‘amount of new $2.50 pieces as its contribution to the holiday movement. The scarcity of these cov- eted quarter eagles has been so great that they have commanded a premium of from 25 to 50 cents and have tend- ed to disappear almost entirely from circulation_except at Christmas time. The local banks have their share of these gold pleces as well as the gold coin of larger denominations and are only too glad to accommodate theirda- trons with as many of "these gift coins as possible. “Say it with gold,” bankers suggest. According to the report of the American Bankers' Association the average per capita savings in’ Wash- ington during 1926 was $152. In Vir- ginia it was $91 and in West Virginia $93. Maryland's average was much higher, $253, and Pennsylvahia, $243. North, Carolina was $53, South Caro- lina $67, Georgia $48, Florida, $136, Ala- bama $40, Mississippi $51, Louisiana $70.. It was $73 in Texas, Arkansas $37, Kentucky $71 and Tennessee $57. Massachusetts led all the States with a per capita saving of $542. Vermont was also in the $500 class, while Maine, New Hampshire and Rhode Island had very high figures. The reason for the much better showing in some parts of the country than in others is given as quite largely due to the variation in interest rates. The thrift habit is also a vital factor. Issues Financial Statement. The Federal-American C recently listed both prefe common stock on the local exchange, has issued the following financial statement as of November 30: Assets. Cash in bank $37.421.73 Investments .... 1,623,009.83 Prepaid taxes .. 303.45 Furniture and fixtures. 501.25 $1,561,236.26 $1,265.69 250,000.00 13,000.00 1,841.62 $266,107.31 Liablities. Accounts payable. Notes payable .... Deposits ...... Accured interest payable. Capitak Preferred stock issued Common stock issued ————$1,143,500.00 Surplus earned......... 34,045.42 Unearned discount 111,614.00 Reserve for taxes. 5,969.53 $1,561,236.26 Local Securities Hold Firm. Potomac Electric Power preferred and Continental Trust Co. led trading on the local exchange today. The power stock sold at 107% and the bank stock came out at 102, a gain of two points over the last sale. ‘Washington Gas Light opened at 70% and closed at 70% on a two-share turnover. “Both type stocks came out, Lanston Monotype selling at 93 and Mergenthaler recording one 10- share sale at 107. Capital Traction and Mergenthaler were still ex divi- dend today. Bank President Entertains. President Joseph Schiavone of the International Exchange Bank gave a dinner last evening, at which Senator Walsh of Massachusetts was the guest of honor. Robert N. Harper was - toastmaster, while Senators ‘Walsh, Ashurst and King spoke briefly. Others present included Senator Edward I. Edwards, Repre- sentative Willlam A. Oldfield, Joseph P. Tumulty, Ezra Gould, F. W. Pat- terson, Judge Robert Hardison, Frank J. Kaufmann, Jr. Ralph Kelly, Hilleary L. Offutt, jr.; C. J. Gockeler, Dr. Milton Prosperi, Phillip Wendell, Atwood M. Fisher, H. Norman Schwarzkopf, John H. Sines, J. J. O’Byrne, Willlam H. Geraghty, for- mer Senator James O'Gorman and J. L. Gill, Insurance Man 30 Years. Business associates of Lindsay B. Branson are congratulating him to- day on his completion of 30 years of service as a representative of the Pru- dential Insurance Company of Amer- fca. Mr. Branson was enrolled as an agent on December 14, 1896, in ‘Washington, where he has also served as an assistant superintendent. By virtue of his long service he becomes a member of Class F of the Prudential 0Old Guard, an organization instituted by John F. Dryden, founder of the company. New Bond Issue Tomorrow. J. A. W. Iglehart & Co. will offer to- morrow a new issue of $750,000 first mortgage 6 per cent collateral trust . gold bonds, series F, of the Security Bond and Mortgage Co., at par, to yield 6 per cent. Including the present offering, $3,500,000 of these bonds,| have been issued since the first offer- ing was made on October 15, 1925. The bonds are dated January 1, 1927. The maturities are as follows: ‘1928, $100,- 000; 1929, $100,000; 1930, $100,000; 1931, - # i 1982, $226900, UNITED STATES. 1 (Sales are in $1.000.) i Sales. High. Low. 100 28 100 25 102 20 102 26 100 31 100 30 10113 101 10 103 6 102 28 105 20 1031 109 28 Lib3ks.... Tib 1std s, Lib 2d 415, Lib3d 4%s. Lib dth 45 US3¥s.... US 4= 1944 US4ks 32 126 114 317 14 64 19 FOREIGN. 103 8 103 108 Argentine 6s Ju 59. Argentine 650ct59 . Argentine 6s A. Argentine 6s B. Argentine 7s. Australian 5s. Austria Ts. . Bank of Chile 614 Bank of Japan 6: “elzinnd 6s. Pelefum 6%s. Belgium 7s. Belztum 7s ct Belgium 7%s. . Peleinm 8s Bolivia 8s Bordeaux 6s Brazil 6158, Brazil 7s Brazil 8s Canada 5s 19 Canada 5s 1¢ Canada 9 Chile 751943, “hile 851941, Chile 85 1946, Chinese Gov Ry 5s. Con Pow JTapan 7s. ., Copenha~en 51gs. Cuba5ks......., Czecho7%s rets. . . Czecho 81951 Czecho 8s 1952 ct. .. 2 20 98y 9815 9814 9814 Danish Munic 8s A. Danish Munic s« 1. Denmark 6s Close. ! 100 28 102 26 100 31 0112 1037 102 28 106 | 104 23 ; 98 98 98 98k 981 984 984% 98 100% 300% 9% 97T% 101% 101% 96t 96% 1004 100% Ny 92 96% 96% % 100% 100% 99% 99% 110% 110% | United Drug 6: | Warner Sug 7s 41 Sales. High. Low. Close | 107% 107% 103% 108% 93 03 0% 89l 95% 95% 104% 104% 101 101 194% 104'% 101% 101% 100% 101 108 108 108 108 26 271% 98Y% 98Y 99% 99 % 102% 102% 104% 105 105 105 105 105 110% 110% 110% 110% 104% 104% 101t 101% % 103% 103% ¥21 Salvador 8s 48. , Finland s f 6s 45. Fimand 7s...... Framerican 7% French 7s. French 715 French 8s - . 5 German El P 6%s. . German 7s. Ger Am Bank 7 Ger Gen Elec 7s Greek 7s. . Marselile 65 . 8 Mexlco 4s 10 asntd. Mexico 5s asntd. Montevideo 7s..... 5 Netherlands 6s 54.. 13 Netherlands 6s72.. 2 Nord 6%s . 56 Norway 5%s. 29 Norway 6s1943.... 5 Norway 6s 1944.... 10 Norway 6s 1952.... Orient Dev deb 8s.. 60 Paris.Ly-Med 6s... 42 Paris-Ly-Med 7s. .. 45 Paris Qrleans 7s... Poland 8s. Prague 7% Queensland 6s. Queensland 7s Rhinelbe Un 7s. .. Rio de Jan 8s 1946. Rio de Jan 8s 47. Sao Paulo City 8s Sao Paulg 85 1936. . Sao Paulo 1950. Saxon (PW) 7s Seine 7s 42 Serbs Crot Solssons 6s...... Sweden 5%s ct. . Swiss 5145 1946 ‘Toho Elec Pow 7= Ttd Kingm 5%s 29, Utd Kingm 5%s37. 24 Uruguay 8s. . 2 Yokohama 6s w i...210 .25 11 103% 103% 107% 107% 921 2% 100 100 99 99% 97% 98 102% 102% 107% 107% 97% 9T% 107% 107% 101 101 104% 104v Ml 91% 100 100 a2% 90 99% 3% 98 24 41% 101% 101% 1034 10316 107 107 89% 90 °9 99y 101% 101% 1014 102 101% 101% 9% o4 8 B5% 4 94y 94% 94% 100% 100% 103% 104 6% 76% 94% 04k 104 104 104% 104% 1z 112 113% 114 102% 102% 102% 101% 107% 107v 104% 104* 106 105 101% 101" 95% 6% 7% 9T% 90% 90% 102% 102% 102% 103 98 98% 117% 117% 104% 104% 109 109 93% 93% MISCELLANEOUS. Am Agri Chem T%s 21 Am Cotton Oil 5s... 18 Am Repubdeb 6s.. 3 AmSmit&R1st5s 5 AmSmIt &R 6s.... 23 Am Sugar ref 6s. AmT& Tcltrds.. AmT& Tl trbs AmT& Ts5s Am T & T deb 5% Am Water Wks 5s. Anaconda 1st 6s... Anaconda cv db 7s. Andes Cop 7s rets Armour&Co 414s i Armour Del 5%s. Assoclated Ofl 6s. Barnsdall 65 ctfs Rell Tel Pa 58 C Beth Steel pm 5s. Beth Steel rf 55 Reth Steel'5%s Beth Stee! 6s...... Brier H St 15t 5%s. Bklyn Ed gen 5s. .. 10 Bush T Bldg 55 60. 6 Cen Leath 6s 45 cfs 10 Chile Copper 6s 32. 262 Col Gas & El15s.... 10 Col Gas & El bssta. 2 Commonwith P 8s. 12 Con Coal Md 1stbs. 2 ConGas N Y 5%s.. 9 Consumers Pow 5s. Cuba Canecv 8s. . Cuban Am Sug 88 Denver Gas 5s. .. Dery (DG) 78 Det Edison 5s 40. Det Edison ref 65 Dodge w 1 63 Donner Stee! 3 Duq L& P5%s 49. Duquesne Light 6s. Est Cuba Sug 7%s. Empire G & F 7%s. Fisk Rubber 88 Goodrich 6% Goodyear 85 1931 Goodyear 8s 1941 Hoe & Co 6148 Humble O-& R 5%8 Tlinois Bell 1st5s. 13 Indiana Steel 5s... 1 Int Mer Marine 6s. 175 Int Paper 68 47..... 18 Int Paper 6s. .. IntT&T5%S Kan CP&L 5s A 52. Kan G & El6s 52. Kelly-Spring 88 Lacl G ref 34. Liggett & My s. Liggett & Myers Ts Loulsv G & E 5s 52. Manati Sug sf T%s. Mid-Con §1%s 40 Midvale Steel 5s. Montana Pow 6. .. Mor's & Co 1st 4% Nat Tube 1st 55 Neéw Eng Tel 58 N Y Edison 58 44. N ¢ Edison 6%s. NYGELH&P 4s. N YG EL H&P 5s. N Y Tel 4%s. N Y Tel 65 41. N Y Tel 65 49. North Am Ed 68 Nor States Pow 55. Pac Gas & E1 58 Pac T & T 1st bs. Pac T & T 5852. Pan-Amer Pete Peoples Gas 53 Phi'aCob%sd Phila Corf s A. Phila& RA€ & 158 Public Service 6s. . P Serv Gas 51%s 59, P Serv Gas 5% 64. Punta Alegre 7s. ... 14 Remingtn Arms 63.165 Sinclair Ot 68 Sinelair, Sinclalj 8in Cru Sin Pip@ Line §s, ¥ 81 924 104% 104 104% 95 95% 99 99 100% 100% 107% 107% 104'% 104% 983 OR% 102% 102% 101 101 105% 1055 98% 98k 104'% 104% 108% 10%% 108% 109 92% 92% 941 4% 103 108 99% 99% 103% 103% 98 98 101 101 9614 96 101% 101% 104 104 104% 104% 101% 101% 102 102 110% 110% 99% 99% 90% 99% 104% 104% 831 831 106% 105% 102% 102% 9% 99% 107% 107% 98% 98% 76 6% 102% 102% 1074 1075 95t 95% 96 96 104% 104% 105% 105% 107% 107% 105 105% 116 116 105% 105% 110 110 121 121 98 98 1021 102% 103% 1031 104% 104% 96% 97 97§74 99% 99% 109% 109% 1025% 102% 105 105 103% 103% 101% 101% 101 101 121% 121% 100% 100% 104 104% 104% 104% 964 96% 101% 101% 86% 86 108% 103% 108t 1034 108% 108% 115% 115% 92% 921 105% 105% 98% 98% 108% 108% 110% 1104 105 105 100% 100% 100% 100% 102% 102% 101% 10148 105 & 101% 102 100% 101% 108% 103% 102 102 103% 103% 105 105 105 105 1% 111% 94ls 96 1004 100% 924 925, 9T 97y 100% 100% 924 923 . FINANCIAL. Sales. High. Low. Close 19 109% 108% 109% 103% 108% 103% 106% 105% 106% 107% 107% 107% 107 107 107 95 9% 94% 108% 106% 109 106% 107 984 981 99% 9 7% 80 9% 94k 101% 102% 111% 112 101 101% 1014 101% 101% 1014 108% 103% So Por Rico Sug 7s. Southwest Bell §s. Tenn Elec Pow 6s Toledo Edn 1st 7s US Rub 1st rf 5: USRub 7%s. U S Steel sf bs Utah Pow & Lt Vertientes Sug 7s.. Warner Sug 7s 39. West Elec 5s.. . Westn Union 6%s Waestinghouse 5s. Willys-Ov 6145 33 Wilson & Co 1st §s. Youngstn S&T 6s.. 16 103% RAILROAD. Atchison gen 4s.... 39 9374 1 90% .1 804 16 93% L1497y 9 100% 38 100% £ imp 65,0 11 108 &OPLEWY 4s.. 1 g2y B&O SwDiviscfs 30 103 B & O Toledo 4s. . 92%. 907% 80% 92% 90% 0% 93% 93% 97 9T% 100'% 100% 100 100% 104% 104% 102% 102% 108 108 2% 92% 101% 1017% 82% 824 . SPECULATIVELLIST 1 ATTRACTS TRADINE New York City Tractioni. Leaders Today, With Coppe; Bonds Doing Well. BY GEORGE T. HU Special Dispatch to The Star. NEW YORK, December 14.—Bont prices held firm today, notwithstand ing the extent of yesterday's advanca but interest shifted from the strictly high-grade investment group to mor speculative securities. The leaders were the New Yor} City tractions, all of which mads striking gains and some of which sol{ at new high records for the year These bonds had been strong on Mon day, but they shot ahead today in 4 demonstration that exceeded any thing seen in this part of the,list for months. The Interboro issues were all in uv gent demand, with the refunding GHE! - 8 Bklyn Manhat 6s...11¢ Can Nat 414 54 Canad North 63%s, Canad North 7s. 98% 99% 95% 95% 117% 117% 115% 115% 84% R4y 1023% 102% 108 108 101% 101% Car Clinch & O 6s. . Car Clinch&O 6s 52. Cent Pac 1st 5s 90 Ches & Gcv 43s. .. Ches & O gn 415s. .. Chi & Alton 3%s. ChiB & Qgn 4s 53. Chi B & Q 1st rf 5s. CB & Q-TIl div 4s. . Chi& E 1 gn bs. Chi Great West 4s. 2 CM&StP4s2s... C M&St P 45 25 ofs. CM&SLP deb 4s cfs. CM&StPgn8y.,. CM&StPev4%s. CM&SPev4 1% s3zcts CM&StPgn4ts. CM&StPevis.., CM&SP cv 58 ofs 14 CM&StP 6s Chi & NW gn 3%s. Chi Rys bs. Ch{RT& P gn ChiRT&Prf 4s. ChTH&SE 5s. Chi T H inc 65 60. .. Chi Unlon Sta 5s 44 Chi Union Sta 6%s. Chi & W Ind cn 4s. . C&WI5Ys62 CCC&StLats CCC&StLrf6sA. Clev Term 5s. Colo & Sou 4%s. ... Cuba RRbS....... Cuba N R 6s 66. . Den & Rio G en 4s.. Den&RioG 414s 36. D Rio G West bs. Det United 414s Erie 1st cons 43 Erie gen 4s. . Erfeconv4sA. Erfe conv4sB..... :_:r:e conv4sD..... 45 Srie conv ext 7s.... 2 107y L Y Er:eg.’ersoy 6s 511 i“:’l’: :?;‘ “rie Genessee R 65.100 B odnsed 111% 111% 111% Gr Trunk stdb 6s Grand Trunk 7s Gt Nor 43576 D. 106% 106% 9% 94% 80% 80% 69% 56'% 56% 56% 86% 56% 56% 95% 55% 56 04% ™% 3% 87% 92 94 94u 87% 87% 101% 101% 118% 118% 86% BA% 103% 103% 99 99 102% 102% 103% 103% 96% 95 o8t at 94% 6 2% 81 72 79 56% 56 104% 1 % 73% 87% 92 98 91 baw 6% 9y 81 3% 9 8% 8% 84 £4Y% 14 107% 107 107 1 115% 115% 115% 125 94 3% 94 Great North 5%s.. 51 107% 107% 107% Gr Nor ren 7s 12 113% 113% 1137% G Mob&N 5%sB50 2 106% 105% 105% Hockine Valdl%s.. 9 97% S7% 97% Hud & Manref5s.. 26 98% 984 ©8% Hud & Manaj5s...184 $4% £4% e4% T Cen 4s52... 3 88% S88% 88% T Cen 4%s 66. 51 96% 96% 96% T'1 Central 5%s. 11 102% 102% 102% T1I-C-C StL&NO 5s. 10 103% 103% 103% Tnt Rap Tran 6s.., 197 80% 80% 80% Int Rap Tr 5s stpd. 474 80% 79 80% Int Rap Tran s 103 S4% 82% =4 IntRap Tran7s... 49 99% 09% 99% Int& G Nor 1st 6s. 10 106% 106 106% Tnt& G Norad 6s.. 83 R4l 83% 83% Int RysC A 65s72 7% 75 Int Rep C Am 6s 4 95 95y Kansas City S 3s... 73% 8% Kansas City S 6s. .. 99 99w Kan Citv Term 4s.. SBY SR Lehizh Valends. .. 88% R6% Lehich Val 55 2003. 1 104% 104% 104% Louls & N uni 4: 1 95% 95% 9w L &N 4%s 2003 1 99% 9o a9y Louls & N5s B. 5106 106 106 Louis & Nash 7s. 2108 106 -106 Man Ry 1st 90 19 68% 67% 7% Warket St 7s 40 97 9% 964 Mil B Ry & L 5s. 8% 98 o8 M St P& SSWen ds 89 89 g9 M St P&SSM cn 5s. 98% 98% 981 MStPESSMEsIsetd 9% 98 o8 M St P& SSM 5%s. 9% 91% 91% MStP&SSM6%s. 5 1024 101% 1024 MK&T4sB. 2 85% 85% 854 M & & T adj 5s. 41 96% 98 06% MK&Torin5sA. 87 101% 101% 101% MK&TEsC... 2 102% 102% 102% Mo Pacific zen ds.. 41 75% 75% 75% Mo Pac 55 1965. 7 99% 99% 99k Mo Pac 6549 D. 8 106% 106% 106% Mo Pac 6s 55 E. 4 106% 106% 106% Mont Trmref5s41 3 9815 981 98% Nassau E Ry 4s57. 10 60% 60% 60w NOTex&MG5sB.. 71004 99% 989% NOT&M5%s. 1 105% 108% 105% NY Cent 4s 98. 8 90 R9% 90 N Y Cent deb 4s 5 96% 9614 96 N Y Centri5s. 57 106% 105% 105t NYCentdeb6s.... 3107 107 107 NYChI@StL 5%sA. 26 104% 104 104 NYChIi&StL 5%sB. 15 104% 104% 104% New Havdeb4s57. 12 70% 69% -0 New Haven cd 6s.. 11 105% 105% 105% NYOntWistds.. 19 77 176% 77 NY O&W wen 4s 55. 16 7 7% NYRys6s65.....6: 334 34 N Y Rys 6s A 65 8BY, 85% NY W & Bos 4%s 79 79 Nor & S een 58 54. . 89% 90 Norfolk & W cn 4s. 93% 9314 Northern Pac 3s 66 €6 Northern Pac 4s o1k 91% Nor Pac 41 2047 Northern Pac 5s D. Northern Pacr | 6s. Ore & Calif 1st 5s Ore-Wash 1st 4s. Pennsyl con 4% Pennsyl gen 4% Pennsyl gen 5s. Pennsyl 5s 64. Pennsyl 6%s. Pennsyl gold 7s Pere Mar 1st 4s 56. Pere Marq 1st 6s... PCC&StL5sA.. PCC&StLGsBT5. Rio G West cl 4s RIATk&L4%s. StLIM&S 4s29. .. St L IM&S R&G 4s. StL&SFplisA.. StL&SFprinbs. StL&SF5%sD.. StL &S Fadj 6s. StL&SF inc 6s StL&SFplés StLS Wconds32. StP & KCShL 4%s. San A & Arn P ds. . Seaboard AL 4s sta Seab A L adj 5s Seab A L con 6s. . Seab All Fla 6s. Sou Pac 45 29. 21 7 2 40 2 2 4 20 9 96% 961 1 103% 103% 103% 49 113% 113 3 101% 101% 101% 18 99% 99% 99% 11 107 107 107 25 102% 102% 102% 3112 112 112 12 106% 106% 106% 2 89 89 8 9 1 103% 103% 103% 1 106% 106% 104% 28 107 106% 106% (4 83% 83% 83% 7 94% 94% 9doy 1L 97% 974 974 29 98% ¢ €34 33 84% f4% 13 100 99% 19 102% 102 20 99% 8% fai B1 964 5% (5% 10 101% 101% 101% 1 94% 94% . 94% 17 93% 93 93% 8 83% 881 88 2 80% 80% 80w 21 K216 824 82 98 96% 961 06% . 27 95% 95% 5% 25 98% 984 98y Sou Pacific clt 4s... 12 88% 88% .887 Sou Pacfic ref 4 7 93% 93% 93y Southern Ry gen4s 5 86% R6l 86y Sou Ry 65 56. . 4 113% 113% 1134 Southern Ry 6% 12 119 118% 118% TexArk F'S 5%5 60. 12 104% 103% 1033 Texas & Pacific 1st 8 106 Third Ave ref 4s Third Ave adj 5s Tol Tr L&P5%530 3 99 99 99 Union Pac 1st4s... 20 9% 94% 94y Union Paclistrfds 2 91% 914 91k Union Pac4s27.... G 99% 99% 99y Union Pac 1st rf 55. 10 10 % 105% 10814 Union Pacificcv 6s. 8 101% 101% 1017% Virginia Ry 1st5s. 25 103's 102% 1031 VaRy&Pos... 3 98% 98% 98% Wabash 538 75. 5104 104 104 West Maryland 4s. 20 75% 75% 75% Western Pacific 5s. 18 99% 99% 99t West Shore 1st 45.. 7 86% 86% 86% Whel & LErfél%4s. 2 904 90% 90% Wisconsin Cent 4ss. 3 m.lzu 8214 99% 102% 30 9% 99% 94% | B4y | C: i stamped and unstamped, selling above 80 for the first time in 1926 and thy 6 per cent notes up over a point-af 84, which was also a point abovy their previous high, while the 7s af 99 were only a point under record New York Railway income 6s were seq ond only to the Interboro issues ig the buying. Next came Third Ave nue adjustments, with a gain of ove tn. potll‘)l, m;:i gnnlly Brooklyn-Manhat, an Transit 6s at 99, practl to their high. 5 B Copper bonds continued to sel around the high of the movement Buying of Chile Copper 6s above thy price at which they will be redeeme¢ on April 1 next was based on theory that the holder had a chance of speq ulative gain because of the conver. sion privilege, while the possibility of loss was limited to the difference be tween the market and the prices Others in this group to show fmprova ment included the Anaconda 6s and 7s. Park Lexington 6%s had a bris) run-up and so did Market Street Rail way, but the advance in the last named was not held. There was no reaction in the Unitej v States Government list and all thy Treasury issues sold within smal fractions of their record high for ai time. United States Steel sinking fund 5s were up among the high-grads industrials and Atchison general 41 among the rails. Special buying in Chicago, Milwaukee and St. Paul gen eral 414s, on which interest has beer paid throughout the receivership, car. ;l:d the price to a new high for the year. The forelgn group was more frregu. lar. French bonds were down !llli‘l» ly at the start, but recovered after. ward. There were further large deal ings in Italian 7s just below 93, com. pared with the preceding close of 921 In the South’ American list Depart. ment of Antioquia 7s, series A, touch :grysb for the first time in their his. PRICES ON PARIS BOURSE. 4 PARIS, December 14 (#).—Prices were steadier on the Bourse today. Three per cent rentes, 60 francs; ex. change on London, 122 francs 45 cen. times; 5 per cent loan, 55 france 95 centimes. The dollar was quoted at 25 francs 24 centimes. SaLehis g RAIL EQUIPMENT ORDERS. NEW YORK, December, 14 (8).— The Pennsylvania Railroad is placing orders for 10,000 tons of track ma. terial, and the Norfolk and Western has ordered 2,000 steel hopper carg divided between Virginia Bridge and Iron Co. and Ralston Steel Car Co. CUBA LINE TO RUN. > BALTIMORE, December 14 (Spe- cial)—Regular weekly passenger sail. ings from Baltimore to Havana, Cuba, will be started on December 24, ace cording_to officials of the Munson Line. W. P. Coria, Baltimore mana- ger of the steamship company, said the service will be the first passenger service ever offered between Balti- more and the Cuban port. The ves. sels will stop at Jacksonville and Miami en route. The former port will be skipped on.the return trip. POULTRY MARKET STEADY. CHICAGO, Recember 14 (#).—Poul- try—Alive steady; receipts, 13 cars; fowls, 18a24; Springs, 18a23%; ture keys. 35; roosters, 18%; ducks, 20a26; geese, 18a20. ) DRY GOODS STEADY. NEW YORK, December 14 (Special). —Cotton goods markets were quiet again today, with print cloth quota- tions changed at 63 for 64-60s and at 7% for 68-70s. The raw silk market was steady. POTATO MARKET SLOW. CHICAGO, December 14 (#).—Po- tatoes—Receipts, 77 cars; on track, 248; total United States shipments, 391; practically no trading on aceount: of weather; too few sales to -establish’, market. ] SALES SHOW DECLINE. NEW YORK, December 14 ().~ Sales of National Cloak and Suit Co.! for the 11 months this year were $34,5 125,604, In contrast to $41,988,699 for, the same period of 1925. —_— - PLAN PLANT IN JAPAN. NEW YORK,sDecember 14 (#).— Engineers and sales executives of/ General Motors Corporation are in Ja-! pan looking over location at Kobe for construction of an assembly plkng ty, supply the Japanese market afi eventually the Chinese market. =~ DIVIDENDS. Pe- ' 0d. ASUB P & P ot Can Brd Co pf.. e lo_p! 7 Can Loe Ltd ,__M_ operert 3 PGRETEEEY 2asingone McCrory 1st do st pf... do 1st pf... Jo 1st ptios Ntbn N Y Util Pwr Cp of N st e ) do pf.. Sullivan ‘Machy Union Trust Co. b R Sy Semta, 57 PoocococcrecPococco! | et EEEEE = Saeres H pETTI | FEEE S S3R338322228323y F3=3 - | s e 33323222223533% | The Quebec Power Co. has been authorized to increase its capital stock from $10,000,000 to $15,000,000, with a new issue of 50,000 shares, and the Hydro-Electric Securities Corporation to issue an additional 50,000 shares of 6 per cent cumulative preferred and 1,900,000 shares of A