Evening Star Newspaper, December 20, 1926, Page 15

FINANCIAL. NEW YORK CURB MARKET Received by Private Wire H.Y WILLIAM F. HEFFERNAN. NEW YORK, December 20.—Op- ®rations for the rise were carried on aggressively at the start of the week on the Curb Exchange in shares of Companies where special develop- ments arc expected to work out favorably for stockholders. The im- bortant price changes again occurred on the side of advance, but with in- terest centered in these special issues. _Foremost among these w. Talking Machine, which again moved forward into new high ground, the Iise extending 7 points at one time. How stockholders are, to fare, as a result of the recent option obtained on a large block of the company’s Stock has not been made known. It is expected, however, that following the exercise of this option and at- tractive o will be made to| wners for tion of their | holdings by the banking syndicate. bonds and New York ist of on the Following is : stocks traded in 11 Bridgep Mach 1 Brill Corp B 1B City K R 1 By vm Celluloid Co. . . Celluloid Co pd 1 ‘ent « ity Tee & Fuel.. ‘ommonw P € n “ommonw P f pf % Consol Coal ... 1 Curtiss Aero M 3 Curtis Pub.. . Curtis Pub 'pfd. s Victor | but profit-taking Direct to The Star Office Johns Manville at 189 reached a new high record and compared with Saturday's closing of 185. The high prices, however, attracted heavy real- izing sales, which carried the price back over more than the ground gained. Directors last week an- nounced their intention of recapital- izing the capital structure, which s to result in the distribution of a sub- stantial stock dividend. Standard of Indiana c;mtxlu;‘u«;pi:, ve aro high prices for the year, tive around high prices for the vear further advance. The president of the company declined to comment on the | report that application would be made | to list the shares on the Stock Ix- change or to verify the report th share owners are in line for a stock divide Other ofl shares did little one way or the other, but price changes for the most part were to- wand slightly higher levels. Standard of Kentucky did better than most oth- ers, getting up more than 2 points. 100% 4 Anaconda 6s 4 AR G & E ¥ Re on Oil 68 e T Can 65 ‘A 101% Pac R 448 08 ro P& L bs.. 100 nile Cop Ba wi 90% Cit Serv g 0814 e 1073 de A 1047 gs. .. D7 X Pe s u Pow 58 95% Cr 6gs 116 1 Ge02 " 100 R 28 Do For R C ytc De For R C co 1 Domion St Ltd 1 Dunhill Inu 1 @ Durant Mot . 2Duz Co A vte. 4] Bitingon Soni % B Boatah 5 El Invest Inc... Est Welte Cor Fageol Mot pee s e irest T 78 pf.. Foundatn For A. 1t on_Prod Alden 2 Gobel A 0 Goodsr T & 3 Grimes R & ¢ % Happjness € St % Hav E eas: q ¢ Glen Coal. 1§, R. .60 £ ) e 4 S e B el FBHEE! EaC R == 2 s - P 3] ks SAEEESE5E T SRR FEE R FEE FEE SFENE £33 s a2 L Tron. 2 Mid W Uil pfd 1 ohawk Hud P ohawk Val n® Y gunantens o, wisSoan fERER Bt o s ElrocorDes RS R ke SR FEE u o [ i isgs s 22242227, E &, 5_FuowenaSi ST OhR B B e B g e S SHE oM BB e S’ - > SRR - o €3 555 PREORS 3t 32 1 ! 255585 392 TERSS g 2 10 s 10 becoor b RER A P S i i3 EEPEE FER & Soomin 035 SRSt S e D - wai el wio TR E FE FERE RS Sk PN i 100 Rmnin S B E 3RS var . "9 outhw Bell pfd *114% Reg Pap. . S G&E b pid 108 FE RO e smisencS el X pic & n’ Sol Lamp. 100l Blscut 4. » & 3 ot Tt e SR TR whm B P & Ht X Lt & Ht pid. il P&L vt B. c Talk Mach. 473, 0% MINING STOCK. Range 1 Gld M Lid T 82 Falcon Lead Min .7 20 Fir Thought GM. 10 Golden State . 310 Hawtho: 1 Hecla Min . 2 Iron Cap Coppe: 73 Kay Copper 61 Kerr Lake . We E 10 Yuk: a0 ales in INDEPENDENT OIL STOCKS. iifids aibo 1 2 pid 1Git Serv pfd B 1Cit Sery B_pid ! i medium stock. Quarter-blood territory Ene Fuel O ¢ Mex Land 100 Chesebreh 8000 Contl_Oil n.... 800 Gal Sig 01 20Gal S O pid old 170 Gal § O vfd n 8600 Humble Oil & R BOTI P L o 1200 Imp O r P C Nat, Traus 0 Northern 0 o Oil. B0O Ohi 00 Pe o 1600 Vacuum O Sales BONDS. iu thousands. | Transit Co. { been particularly marked in fine wools. 10 Ind’ Limestone 0il & G 6 some of the local traders & THE EVENING COTTON ADVANCES ON GINNING REPORT Census Figures Regarded as Showing Total Won’t Reach Crop Estimate. By the Associated Press. NEW YORK, December 20.—The cotton market opened steady today at a decline of 2 points on December, but generally 3 to 11 points higher in response to bullish views of the census report on ginnings prior to December 13. Early cables from Liverpool were lower, but prices there rallied after the local opening, and the New York market sold up to 12.36 for January and 12.83 for May, active months gen- erally showing net advances of 13 to 1§ points in early trading. The census report showed ginnings of 15,542,249 bales prior to December 18, which evidently was regarded by indicat- Ing that the total for the season was likely to fall short of the 18,618,000 bale estimate. New Orleans Market. NEW ORLEANS, December 20 (®).—First trades of the December position in the cotton market here to- day showed- gains of 20 points, with later months showing gains of 6 to 8 points. The strength of December was attributed to the small ginnings to December 13 reported by the Census Bureau today. The opening tone was firm. After trading at 12,50 for January and 12.60 for March, prices eased off 3 to' 10 points. At the end of the first half hour the market was steady and several points above the lows. Liverpool Quotations. LIVERPOOL, December Cotton—Spot, quiet; prices American strict good middling, 7.68; good middling, 7.33; strict middling, 7.08; middling, 6.68; strict low mid: .| dling, 6.1%; low middling, 5.63; strict O N8t Tex iy B € 1003 Y Trar Rvfl'“l Bi‘! 2 B_98 v 7s. .. 106% hio Riv Bd s 06 Oswego Riv P 68100 Pet 6s..101 % s T Pt 08 3 . 101% 3 Youngs S & T 65103% Sales FOREIGN BONDS. in thousands 1 And Na C 6s ww 101 7 Baden 78, ... 90% 10 Buenos A 7s 52 957 11 Buenos A 78 258 Bu A 7s '57 wi 16 BCE 8148 '51 wi B8BEE R 6%s 39 Danish _Co 5%8 98 30 Denmark 5%s.. ¢ gfiFr St Pru 6338 08I S Y SEES u“a_ _"fl e SR5a32338833E Fa Lolfudurs Ly s =) £ 22 Eps [ 12 DO B A 9D TN JPEmREEEED &3 PSS RNTELELE, agcc 99% e il NEW YORK MARKETS. NEW YORK, December 20 (#).—| Flour steady; Spring patents, 7.35a 7.75; soft Winter straights, 6.85a6.75; hard Winter straights, 7.25a7.60. Rye steady: No. 2 Western, 1.05% f.0.b. New York, and 1.04% c.if., export. Barley steady; malting, 86%a88% c.i. New York. Buckwheat quiet;Japanese, 2.10a2.15; milling, 2.05; Canadian, 1.95. | Pork steady; mess, 36.00; family, 40.00a 42.00. Lard easier; Middle West, 12.40a 12.50. Tallow barely steady; special loose, 6%; extra, 7. Wheat futures opened steady; May, 1.43%. PLAN REORGANIZATION. NEW YORK, December 20 (#).— ate dispatches from Sharon to Wall street forecast the passing of control of Standard Tank Masury, Ohio, to the General Ame: can Tank Car Corporation, Chicago, with reorganization of Standard Tank Car and its subsidiary, Standard A meeting of representa- tives of General American and Keith Car Manufacturing Co. of Sagamore, Mass., which controls Standard, is said to be scheduled for January. ‘WOOL SALES LARGER. BOSTON, December 20 (Special).— As the new week started on the Bos- ton wool market, dealers anticipated a broader demand from mills for de- livery in the first quarter of the new rear, The volume of sales has ex- panded with lower prices, which have Fleece wools are still inactive and the supply of spot foreign stock is limited, but territory wools are unusually active, with the buying movement now switching from fine wools to has sold in_quantity at 78a82, mostly under 80. Half-blood sorts are active around $1. POTATO MARKET WEAKER, CHICAGO, December 20 (#).—Pota- toes—Receipts, 95 cars; on track, 189; total United States shipments, 478 cars; trading slow, market dull and weaker, especially for ordinary stock; Wisconsin sacked round whites, 2.00a 2.35; ordinary, 1.80a1.95; Idaho sacked russets, 2.70a2.90, occasionally higher; poor, 2.65. PORT TRADE GAINS. NEW ORLEANS, December 20 (Special)—Clearances of vessels in the foreign and coastwise trade from this port so far this vear have been in excess of 15,540,000 tons, an in- crease of between 185,000 and 190,000 tons.» Foreign clearances fell off, probably owing to the British coal strike, but coastwise shipments in- creased tremendously. FISHER'S PRICE INDEX. NEW HAVEN, December 20 (Spe- cial)—Prices based on Dun's quota- tions, crumps, 141.7. Irving Fisher, Yale 147.2; purchasing power, 67.9; economist, report; (Copyril —e 1926.) good ordinary, 5.28; good ordinary, i Sales, 9,000 bales,y including 7,500 American. No receipts. Fu- tures closed steady—December, 6.66; January, 6.61; March, 6.70; May, 6.8 July, 6.91: October, 6.99. NEW YORK, December 20 (#).—Is- sues of first mortgage bonds and con- vertible _preference stock of the Schulze Baking Co., which operates in Illinois, Missouri, Ohio, Nebraska, Michigan and Iowa, will be made shortly by Spencer, Trask & Co., in connection with recent announcement of a change in control. R. L. Naf. ziger of Kansas City, Mo., will act as president and general manager. CONSULT US —for_eafe investmens of your surplus funds. Look {6 the future by investing Wm. H. Saunders Co, ne. Founded 1887 " 1433 K at. i T ) 6%% First Mortgage Listed stocks and bonds bought and sold on commission. Accounts carried on a conservative marginal basis. ‘We invite correspondence on securities HarrIMAN & Co. | Members N. Y. Stock Exchange 111 Broadway, New York WASHINGTON OFFICE 729 15th St. N. W. Telephone: Main 1603. STAR, WASHINGTON, Bonds Stocks 0dd Lots Carriea on Margin Buck & Company —BROKERS— Established 1916 312 Evans Building 1420 N. Y. Ave. N.W. Tel. 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Over 8Y:% Yield SAFE and DEPENDABLE Collateral Trustee Certificates OF THE NEW ENGLAND INVESTMENT TRUST, Federal National Bank of Boston, Trustee These certifica participat- ing_ownershi X e 'iln‘h@'nr- n the change—embracing every important Industry, such as U. flfoel[ Amer. Tel. & Tel. General Motors Amer. Tobacco Consolidated Gas Eastman Kodak Standard Oils Kennecott Ci g ;old established corporn: . 1"'.:“6%’“" in thel; i their m e highest Sechnical wna Anmecial R avain h!e. & finh ei—“Profitable _ Investment lon”" contains infor- o Throush: Divervinieatl of vital interest to the Investor R uemands: antets xid 1ok WhoUlemands , safety. & Kend' for your coby today. i pamman d IN’VI.)TM enT Securimies WOODWARD BUILDING WASHINGTON. D.C. INC. AN T oue I intermission. they now yield of 616 %. Trees 4 feet in dlagieter that never A%6as & £l 6n 103 grow more than 1 fool lfound in high have been | Your Maturing Investments F you have investments—bonds or other securities—about to be paid off, you will want to get the highest return by keep- ing your principal constantly employed. Our organization is so planned that we can keep your money invested and re- invested in First Mortgage Notes on im- proved Washington real estate, so that your principal is earning for you without ‘These Notes may be had ifi convenient denominations of $100 and upward. And the attractive Arrange today to reinvest promptly the funds made available by maturing invest- ments—or from January dividends. return Reservations Will Be Accepted Until Your Funds Are Available Swartzell, Rheem & Hensey Co., NMorlgage Barkers T2T15th. Street, .., WashinglonD.C. 57 Years Without Luss to dn Investor D. C, MONDAY, DECEMBER 20, 1926. FINANCIAL. FOR SALE I Bonds of Counties and Cities mpt as fo_Income Taxes nterest 57 to 67, nd & Investment Company 4" Southern’ Building Trompt Action. 'First Mortgage Loans Lowest Rates of Interest and Commission ‘homas J. Fisher & Company, Inc. " 338 15th Street. Equitable Co-Operative Building Ass’n JOHN JOY EDSON, President W/ ER S. PRATT, Jr., Secretary Organized 1879 ith YEAR COMPLETED Assets ......... ..$5,136,317.22 Surplus ...$1,406,195.76 Subscriptions for the 92nd Issue of Stock Being Received B A Resolution for 1927 Resolve now to start the coming new vear saving systematically in ngc quitable. Once you get started, you'll make it a permanent resolution. Those who have used our plan recommend it most highly as the most effective means to accumulate money. 915 F Street We Buy and Sell Liberty Bonds Treasury Notes Etc. Bond Department We will gladly receive and give prompt attention to applications for Loans on Washington Real Estate Current rates of inter- est. 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One Dollar or more will open such an account. We pay 3% interest on savings. National Metropolitan < Bank Years 15th St., Opposite U. S. Treasury The New York Life Insurance Company Offers First Mortgage Loans On Improved Real Estate in the District of Columbia and Nearby Suburbs in Montgomery County, Maryland 3 Years, 5 Years, 10 Years = RAaNDALL B. FAGNER«& COMPANY Tncorporated MORTGAGE LoaAN GORRESPONDENT 1321 Connecticut Avenue Telephone Main 9700 Homes i T T Old 15,000 Shares 7% Cumulative Preferred Stock NATIONAL PRESS BUILDING A 14-story office and store building, with theater (seating capacity, 3,600), and National Press Club quarters, occupying 42,500 square feet (approximately one acre of ground) at Fourteenth and F Streets N.W., Washington, D. C. Value of Property 14-story building now under construction (including land), ready for occupancy July 1, 19%T .. i $11,036,747 Theatre furnishings and decorations to be installed under the terms of 356-year lease to the Fox Theatres Corporation at an annual rental of $200,000....... Building extras, permanent fixtures, etc., provided by investment of original funds in Liberty bonds, approximately 100,000 Totall Lo e i ' ...$11,486,747 Mortgage Bonds . Preferred Stock (aut! used for construction of three additional floors made possible by special act of Con- gress and to retire $500,00" siotes to Fox Theatres Corporation and $450,000 notes to Fuller Construction Comp.. _ .... i 4 35th-year theatre rental paid in advance. $6,600,000 1,500,000 200,000 $8,300,000 ee... $3,186,747 Total liabilities. .. ... Sl Surplus value protecting Preferred Stock. . .- 410 | TR R G .$11,486,747 Estimated Earnings, National Press Building (Based on survey and estimates checked and accepted by the bankers who negotiated the mortgage bonds.) Gross Annual Rental. . .. A Saac oi $1,139,000 Less Operating Expenses, Taxes, Insurance, etc.. 210,000 Net Annual Rentals. . § s Average Annual Interest and Sinking Fund Requirements until aroretivedry oo $929,000 General Mortgage Bonds Balance available for dividends on $1,500,000 7% Preferred Stock.. ... N Dividend Requirements for the full $2,000,000 authorized Preferred Stock Issue. ., $414,000 140,000 $274,000 The National Press building will enjoy the unique advantage of having temants waiting to ooccupy practically its entire office space, these tenants being chiefly the correspondents of great daily mewspapers and magazines throughout the United States and interests represented in the associate membership of the National Press Club. Increase in the value of the land which was bought at $67.50 per square foot is based upon actual sales since made in the same business section at $100 per square foot, and in s ome instances above that figure. The common stock is held by voting trust for the National Press Club. Price of Preferred Stock, $100 Per Share, to Yield 79, Cumulative Interest Riggs National Bank Registrar John Hays Hammond, President John Joy Edson, Treasurer Henry L. Sweinhart, Vice President James William Bryan, Gen. Mgr, Harvey D. Jacob, General Counsel A SOUND INVESTMENT The 7% preferred stock of the National Press Building Corporation offers the happy combination of a sound business investment and the opportunity to participate in the building of one of Washington’s finest architectural landmarks. Full particulars will be sent upon request, or apply in person at offices of corporation. National Press Building Corporation e Excess of net annual income over all interest and other charges......cc..o.a.... John Hays Hammond, President, 706 Wealm Building