Evening Star Newspaper, December 24, 1926, Page 18

. » TREND IS HIGHER IN STOCK MARKET Quiet Buying Movement Car- ries Most Issues Above Yesterday’s Close. s BY STUART P. WEST. Bpecial Dispatch to The Star. NEW YORK, December 24.—As was to have been expected the stock imarket during the last session previ- bus to the Christmas holiday, worked Roward higher levels. There was no excited bidding up of prices, but a quiet buying movement which carried most issues above yesterday's closing quotations. Two of the outstanding strong spots were Union Oil of California and At- lantic Refining. The manner in which these stocks were bought indicated that there was something more than mere speculative gossip back of the revival of merger rumors concerning these two properties. Other ofl shares were in better de. mand with General Asphalt, Marland and Standard of New Jersey prom- fnent. United States Steel common moved forward & half point and the upward movement in General Motors kept on. The usual number of in- dustrial speclalties were taken In hand and bid up a half point or so. ‘Because of the departure last night ©of many traders from the Wall Street district preparatory to the holiday, it was not surprising that the market should have remained comparatively qulet. However, no weakness was apparent in any quarter and changes for the part continued on the side of rising prices. Atchison was bought at new high prices in anticipation of favorable dividend action. It was evident from the manner in which Erle first and second preferred were bought at tHe top prices for the year that the Street selieved something good was in store ‘or shareowners. Seaboard Air Line sommon came to the front and New Zork Central started forward again. socal traction issues felt the effect of profit taking, which carried prices ior Interboro Rapid Transit and Omnibus Corporation down a point or more. T \VABASH STOCKHOLDER STARTS DIVIDEND DRIVE * the Associated Press. NEW YORK, December 24.—Assert- g that dividends on the class “B" eferred shares of the Wabash Rail- 1y are being withheld to force their cnversion into other securities, Ed- v.in H. Van Wyck, a stockholder, yes- t rday suggested the formation of a 1 otective committee to work for pay- :nts on this issue. The stock has paid no dividends ice the road's reorganization in 5, although the preferred “A” ares were restored to a dividend sis in 1925. “The company is in a _strong finan- 1 condition, Mr. Van Wyck said in etter to the “B” stockholders, “and s a capital structure as good, if not :ter, than most of the railroads of ;2 country. The dividends on the stock after the payment of the preferred “A” dividends have been caned over 40 times and, according o the best information available for ' year 1925, the company earned at i Tate of $169 for every share of * stock outstanding, and it is inti- ted that this year they will exceed + amount.” ince 1918 more than $46,000,000 of 2 stock has been con- fe, ted into preferred “A” and com- 'n_shares. )fficials of the Wabash declined to sament on Mr. Van Wyck's action. . WOOL GOES HIGHER. TOSTON, December 24 (Special).— "' » raw wool market approached th ! lday with sentiment stronger and ses definitely higher. Mills have n buying during the week, not y for current needs but also for ure requirements. Topmakers are 4ng more confidently, anticipating better market. ~Pulled wools are ving more freely, with woolen is taking fine A and B super Jle. The finer grades of territory ol are in active demand. e L WALKER APPOINTED. . F. Walker, secretary of the Ohio sol Growers' Co-operative Associa- n, has been appointed consulting sclalist for special work on wool rketing by the Department of Agri- 'ture. His appointment is the de- < rtment’s first step In undertaking 1 co-operative marketing of wool by il » recently created division of co- ¢. rative marketing. e NEW YORK MARKETS. NEW YORK, December 24 (#).— ur—Steady: Spring patents, 7.36a 5; soft Winter straights, 6.40a6.75. e—Irregular: No. 2 Western, 1.09 >. b. New York and 1.07% c. i f. ort. Barley — Steady; malting, 3a89% c. i, f. New York. Lard— m; Middle West, 12.76a12.85. reat—Futures opened barely steady; y, 144%. Other articles un. -nged. COTTON GOODS QUIET. “!EW YORK, December 24 (Special). ‘otton goods markets were quiet ay with prices slightly easier. nt cloths were quoted at 6% cents 64x60 and 73 cents for 68x72, the mer a reduction of an eighth. Raw s were quiet and little changed. GETS BIG ORDER. NEW YORK, December 24 (#).— @ Radio Corporation of America 3 recelved what is said to be the gest single order for radio compass tallations, direction-finder, from amships interests affiliated with the « ited States Steel Corporation, in- iving more than $260,000. Much of » equipment {s for vessels of the cerlake Steamship Co., Pittsburgh « amship Co. and M. A. Hanna Co. BALANCE IS PAID. NEW YORK December 24 (#).—A lance of $1,250,000 on a loan with > American Trust Co. in connection th the reacquisition of the Ward ne and due January 26, 1927, has en paid by the Atlantic, Gulf and . est Indies Steamship Lines. PRICES ON PARIS BOURSE. PARIS, December 24 (#).—Prices re improving on the Bourse today. iwree per cent rentes, 53 francs 40 « ntimes; exchange on London, 122 ancs 37% centimes; 5 per cent loan, ' francs 97 centimes. The dollar was ioted at 25 francs 213 centimes. POULTRY MARKET STEADY. CHICAGO, December 24 sultry—Alive, steady: receipts rs; fowls, 18a24; Springs, 18a23%; rkeys, 36; roosters, 18; ducks, 20a30; ese, 20a25. SILVER QUOTATION. Allls Chal pf (7). 110 Amerada (2).... 31% Am Agricul Chm 18% I Del L & W (17).. 148% 148% FINANCIAL, THE EVENING STAR, WASHINGTON, D. NEW YORK STOCK EXCHANGE Recelved by Private Wire Open. High. Low. Close. 'Abrn.hm&slruul. 624 624 62% 634 Adv Rumley.... 10 10 % 9% Adv Rumley pt.. 33% 33% 33% 33% Alr Reductn(16) 141% 142 141% 142 Ajax Rubber.... 9% 9% OW 9% Alaska Junea.... 1% 14 14k 14 Allied Chem (4). 144% 1454 143% 148% Allls Chalm (6). 90% 90% 90% 90K 110 110 110 81% 81% 81% 18% 18% 48% 48% 564 56% 16% 38% Am AgriChpf.. 484 Am Bk Not pf(3) 56 Am Bosch Am Br Bov Am Can (2). 52% b53W B2% 62X Am Car&Fdy(6) 101 101% 101 101% Am C&F pf (7). 120% 120% 129% 120% 25 26 38 ¥ 9% 9% 182% 181 182% 20% 20% 20! 90 9 52% 16% ) 38% AmChain A (2). 28 Am Drug D Tom Am Expre 6). 131 Am & For Pow.. 20% Am&Fo Po nf (1) Am Hide & Lea. . Am Hide & L pt. Am Ho P(2.40).. Am Internatl. .. Am La Fr (1)... Am Linseed..... 8 Am Linsd pt (7). 70 70 170 Am Locomot (8) 109% 109% 100% 109% 78% T4% 18w T8% Am Metals (4).. 42% 42% 42% 424 AmPo& Lt (1) 61% 62% 61% 62 Am Radiator(5). 110% 1124 110% 1124 Am Republic.... 44% 44% 4d% 4% Am Smelting (8) 146% 148% 1464 141% AmS&Rpf (7). 121% 121% 1214 121% 404 44% 40 4l 82% 82% 82U B82% Am Sumatra. 42% 42% 42% 42% AmTel & Ca(5). 2% 214 27w 274 Am Tel & Tel(9) 149% 1494 149% 149% Am Tobacco (8). 121% 122 1214 122 Am Tobacco B (8 120% 121% 1204 121% Am Tobac pf (6) 110% 110% 110% 1104 Am Wa Wocl1.20 63% 68% 63 68 Am Woolen ..... 88% Am Wool pf (7). Am Writ Pa pf. Anaconda (3). Archer-Dan (3). ArmourDel pf(7) Armour of TII(A) Armour of IlI(B) 8% Artloom (8) 56% Artloom pf (7).. 118 Amso Dry G(2%) 434 48% 42 424 Atchison (7).... 170% 172 170 170% Atchison pt (5). 101% m:: 101% 101: AtIBiIrm & At... % Atlant C L (110) 209% 200% 2084 2084 AtiCoastLrts.. 184 184 184 18% Atl Gulf & WI.. 42: I:éx ‘:gk 1::“ Atlantic Refing. . 11 Atlan Ref pf (7). 116% 116% 1164 1164 BaldwinL (7)... 166 167% 168 'IGUW Balto & O (+6%) 108 108 107% Balto & Oh pf(4) "’8“ 8% 2T% 2TH 2% Bang & Ar (3).. 26% 264 264 58% 634 B3 Am Mach & Fdy. Am St] Fays (3). Am Sugar (5)... 16% 58% 66 56 113 113 us Booth Fisherles. Brigegs Mfg (3).. Briti¢h Emp 2d.. Bkin-Edison (8 Blkn-Mn Tr (4). Bk Man T pf(6). BKIn Un G($11). 9% 29% 2 2 152% 156 162% 4% 4% 74 g9 89% B8O 98% 98% 98% 34w 84% 34w 36 86U 86 Buff R&P pf(6). . 101 Buff & Susq. .. 41 41 Burns Bro (10).. 12T% 127% 1274 Burroughs (t4). 119 119 119 1 Bush Terminal.. 29 30% 29 Butte Cop (50c). 4% 4% 4% Butterick (m2).. 51% 61% 61 Calif Packg(4) nw % 1% Calit Petrol(2) 81% 81% 81 Callahan Zine... 1% 1% 1% Calumet&H(1%) 16% 15% 16% Can Dry (c2%).. 87 87 86% Can Pacific (10). 168% 168% 167% Case Threshing. 168 184 168 1 t Leather pf. t Leathr ctfs Cent Lea pf ctfs. Cen Ry NJ(112). ‘entury Rib M. . Certain-Teed (4). Chand-Cleve. . .. Chandler pf(2%) Ches & Ohlo (113 Chi & Alton. Chi & Alton ctfl Chi & Alton pf.. Chi & East I pf. Chi Great West. Chi Gr West pf.. Chi M11&StP. .. Chi MI1&StP pf C M&StP cfs.... C M&StP pt ofs. Chi & Nwn (4).. Chi Pneu T (6).. 1 ) 53% 63% 63 B8 292 202 202 292 14 14 14 14 a% % 4% 4% 8% 8% 8% 84 2 23 22 224 160 166 1644 w 8w 6w T ™ 5% 4B% 4B% 8! 8% 8% 26% 6% 25 w8 1 81 261 10! Chrysior Corp(3) 41% 42w 414 424 pIACS). 108 108% 108 1084 1 i 168% 172% Collins & Aik(4). 69% 68 684 Collins&A pf (1) 188% 1 Col Fuel &{ro;; . 46 Col Gas new (5). COISEIT ) 10t 100 Col G&E p! Com Credit (1).. 18% 18% Com Cr ll:(.l;? ). oo Com Inv (3. .. ComInTrpteh 92% 924 92! Com Solv B (8).. 238% 288% 230 Congoleum N.... 19% 19% 194 5% Congress Cgr(8) 55 Con Cigars (7).. 84% 84% Consol Distribut 1% 1% Consol Gas (5).. 110% 110% ConRRCuba pf 0% 0% Consol Textils 4 1% 1% 1104 110% 0% 0% 4 4 01% 62% Cont Insur (6) Cont Mot (80¢) Corn Prod(12% Coty Ino (4) Crucibie 8t Cuba Co (4) . Cudahy (new). Cushman’s (8).. 103 Davison Chem... 28% 29% Del & Hud (9)... 172% 175% 52% 108 104 28% 29% 172% 175% 147 147 42% 42% Y 42% 36w 136 136% 136% 186% 136% 41% 41% DRG Wstpf... Detroit Ed (8) . Devoe & R(2.40). Dodge BrosCl A. Dudge pf (7).... Dome Mines ;5,)) Doug-Pec (t DuP‘ont (112).. 172% 179% stman (18)... 184% 136% ::lnn Axle (2).. 206% 26% Eisenlohr & Bro. 12 El AutoLt(16%) Electric Boat. .. Elec Power & Lt. Eiec Refrig (¢2) Elec Sto Bat(16) ElkHorn. .. .. Cm-Brantgm . i“r’:"lmcll pf (7).. 116% 116% Engnrs PSpi(7) 94% 94% ErfeRR.... . 4 Erle1st pf.... Erle2d pf. ... Erie Stm S(2%). Eureka Vac (4). Fairbanks (3)... Famous P1 (§8). FedLight(*1.40) Fed Min pf (7).. Fed Mot T(f80c) Fid Phoenix (6). 195 First Nat 8(1%) Fisk Rubber.... 45 46 172% 178% 184% 185% 26% % 4% 41% B4% 80 24% 7% 41% 41% 116 115% 43% 4% 9% ‘n 27% 27% 195 30 T4 | Louisiana Of % | Pure O1l (12%) Pirect to The Star Ofee GenGaspfA(s). 118 113 113 118 Geon Motor(111). 155 160% 154% 188! Gen Mot ded (6). 104% 106 104% 105 Gen Mot pf (7). . 8% 8% Gen Outdr Ad(3) Gen Qutdr A (4). 66% B66% 68% B5% oW 884 Qen Ry Sig t63. 5% 88W Gimbel Bros.... 48} 43% 43% 43% Gimbl Brpf (7). 104 106 106 1304 Gold Dust.. ..., “Uw 4w Goodrich Ru (4) 43% 43% 48% 48% Goodyear pf (7). 99 99% 99 99 Goodyr pr pf(8). 108 108 106 108 |Gothm S H(214). 80% 61% B59% 60% Gotham new 23, €0% Granby Consol.. 84 Grt North pt (5). 83% n Bu (8) 108M 1 Green Canan. 81 8 31 88 Guantanamo. % | Gulf Mo & No Gulf States (6).. Hartman A (3).. HartmnB(k4.40) Havana El rets. Hayes Wh(13%) Hoe&CoA..... Househld P 13% Houston Ol . Howe Sound(4). Hud Man (2%).. Hudson Mo(3%) Hup Mot (1.40) Indep O1) (1). Indian Refining. IndlanRefg ctfs Inland 8t (24) Inspiration (2).. Interbor Rap Tr. Intcontl Rub(1). Internat Agri... Int Bus Ma 134 . Int Cement (4).. Int Com Eng (2) % Int Harv (36)... 146% Inter Har pf (7). 127% IntMtoh pf(3.20) 64U Int Mer Mar pf.. 38% Int Nickel (2)... Int Paper (2)... Int Paper pf (7). 98% Int Tel & Tel (6) 12T% Jewel Toa....... Jordan Motor. .. Kan City South Kayser J (4). Kelly-Spring.... Kelly-8pring 1st Kenneoott C (8). Keystone T & R. % 46% 1454 148% 1274 127% 84w 88% 98% 127% 1133 A% 22% Lago O!l & Tran. Lambert Co (8). Tire & Rub. Leh&Fink Life Sav (1.60).. Lig& M B (t4).. Lima Looo (4).. Lig Carbd (3.60! Loew's Inc (13). Teong Beii A (" a2 42 ong Bel . Lorrillard (ll)... Tow 1ex MeCroryB(11.60) 81 9% 9% Molntyre P (1).. 264 r’“‘ Trucks (6) Manat! Sugar pf. Man EI Sup (8).. Man El m g (DS) Maracaibo Oil. .. Marland Ol (§). Marin Rook 2% May Dept Bt (8). 1 Maytag Co (2).. 28! Mexican Seabd. . M | Bou Dairies A (4) Mid States Oflot 1w 1% Midland pf($12). 112% 1134 Miller Rub (2).. 84% 3% MBtP&8SMpt BO0% Mo Kan & Tex 3! 96% | gpicer pt (8 M Montana Pow (5) Montgmry W(4) Moon Mot (1%). Mothr Lode(780) Motion Plo (1).. Motor Met(3.60). Motor Whi (3).. Murray Body ctf. Murray Bdy sta. Nash Mot 18%.. 70% 170% Nat Biscu(16%) 99% 1004 mn I:(‘)“ 1% 3TH 20 20% | Tide Water(1%) % Bouth Por % | Bouth Ry pt (5). ANACOSTIA BANK DECLARES EXTRA CHRISTMAS DIVIDEND «|One Per Cent Additional Disbursement Is Voted When Regular Semi-Anual 4 Per Cent Payment The Anacostia Bank has joined the extra Christmas dividend column, the directors at their meeting yesterday afternoon having voted a 1 per cent additional disbursement. They also declared the regular semi-annual divi- dend of 4 per cent, this action bring- ing total dividends for the year up to 12 per cent. Six months ago the bank paid a 3 per cent extra in addition to the regular semi-annual dividend. President Maurice Otterback told the directors that this had been an un- usually prosperous year. On the whole, the Anacostia section of Wash- ington has advanced rapidly during the past 12 months, and the bank had | had its full share in the prosperous times. Mr. Otterback sald he con- sidered the outlook for 1927 as un- usually bright. The bank presented Christmas pres- enta to all the personnel this .after- noon, the speclal gifts being made in preference to salary percentages. Writer to Visit Florida. I. A. Fleming, veteran financlal editor and writer, will leave Washing- ton Bunday for his annual Winter visit to Florida. Mr. Fleming will again pass most of his time at Mel.| hourne, but before settling down will visit several points farther south and spend two weeks in Cuba. He will be much missed in the local financial district and at the bankers’ weekly luncheons. Insurance Workers Get Bonuses. More than 400 employes of the Acacla Mutual Life Aseociation, many of whom are employed in na- tional headquarters here, received bonuses amounting to 5 per cent of their annual salaries at a Christmas party held in the company's officers in the Homer Building this afternoon. Similar awards were made to the em- % | Ploves of branch offices throughout the country. Announcement of the bonus was made by Willlam Montgomery, presi- dent of the organization, who dwelt briefly upon the rapid growth of Acacia during the year. This growth, he sald, was traceable in no small measure to the efforts of the em-| ployes of the company. Mortgage Firm Votes Extra. At a recent meeting, the board of directors of the National Capital Mortgage Co. declared the olovrnfhl consecutive quarterly dividend of 2 per cent on the preferred stock and 2 per cent on the common stock, plus the usual extra dividend of 1 per cent on the common, payable December 31 to all stockholders of record Decem- ber 21. G. M. P. Murphy & Co. are sharing —— e Shubert The (5). Simmons($2.25). 60 32% 60 60 8. 4 19% 20 98% 84% 180% 1604 121 8 45 8imms Pet (1).. Sinclair Ol Binolair pf (8).. Bkelly O11 (2)... Bloss-8heft (6 rt 8 (6). South Por pt(8) . Sou Callf Ed (2). Bou Dairles B... Bouth Pac (6)... Southern Ry (7). Bouthern Ry rts. 121% 964 224 107% b6% B6% 59% 80% 2% 115% 83 Bplcer Mg Bt4 Gas & Bl g3. 8td G & Kl pt(4) Btd 011 Cal 12% . Btd O1I NJ(11%) 8td Oil of NJ rts td O11 NJ pf(7). for Of1. w';::l of Amer. ‘Texas Co (3).... % | Texas Corpn (3) ‘Tex Gulf Sul (4) Tex & Pacific. ... Tex&PacC&O. 15 16% 14% 15 ‘Texas L4 Tr(8).2010 2010 1950 1950 Third Avenue... 40% 42% 40% 42% 27% % | Timken (15).... NevadaC (1%). 18% NY Alr Brake(2) 484 N Y Canners.... 31% NY Central (7).. 14¢ NY ChiastL(11) 193 NYCABLL pf(6). l::a North Am pf(3). North Pac (8)... Norwalk Tire... b1 well Bup (2). Steel. Co ( Out Outlet Co pt (7). Owens Bot (ct6) Panhandle . Park & Tilford. . Park Utah (800). Pathe Bix (¢3)... Peeriess Mot. ... Pa Dizle Ct! (.loa) Phila l"n C|l 1. tiip Morris. .. Qulfp- Pet (3). Plerce Plerce Petrolm. . Pitts Coal. . . 8% Pitta & W Va(6) 128 Porto Rico Tob.. 88% 9 Postum (5. 102 102 Prod & Refl Pub Serv NJ (2). bS8 NJ pf(7). 109 109 109 ll”‘:\l!mhn Czs(l) . l::: l:g: l::% Punta Aleg Sug. Un Uh o 4T% 4T% 4T% 103 103 108 8% ” 19% 46 4% Purity Bak A(3) Purity Bak pf(7) Radio Corpof A. Replogle Steel. .. Rep I b‘ :( (7). Rossia Ini Royal D (83.078) Fisk 18t pf (7).. Fleischmn 124 . Foundation (8). Fox Film A (4).. Freeport Tex (2) Gabrlel Sn (3%) Gardner Motor. . Gen Am Tnk (3) Gen Asphalt Gen Asph pf NEW YORK, December 24 UP).— 1 sijyer, 53%,; Mexican dollars, 4034, Gen Elec (h3). .. 7 86 864 GenElec sp(60c) 11% .11% 11% 11% 8t Joseph L(13). tL & SanF'r [ ) S ) 614 Shell Unton (12 29% 20% Bhell Un pf (6).. 108% i08% % | U 8 Steel (7).... 168 % | Yol Tr&Cpt(7) - 20% 2v% 108% unnl Tobac Prod (7).. 100% 110% TobProd A (7).. 116 116 ] Transcont Ofl... 4% 4% Underwood (4).. 46% 46% Un Bag & Pap: Union Carb (6) Un Ol (2)... Un Pacific (10).. 163% 164 Un Pacific pf(4). 80% 80% 2 98% .;IV- 118% 235 1% Is Authorized. in the bonuses which have been so freely handed out by brokerage houses and banks here and all over the country. Officials at the H street office announced today that the salary percentage was practically the same as that given last year by John L. Edwards & Co. Exchange Trading Qulet Today. Washington Railway and Electric preferred led quiet trading on the local exchange today, the stock open. ing at 90% and closing at 90%. Capi- tal Traction was 104%, Potomac Elec- tric Power prefe came out at 107% and 87 shares of Washington Gas Light sold at 71. Trangactions in the bond division were confined to Washington, Alex- andria and Mount Vernon certificates and Washington Rallway and Electric 43 and 6, recent prices prevailing. The quotation list today showed 28 issues ex dividend. Capital's Status on Savings. The controller of the currency gives the per capita savings for the United States at $164.15. The American Banke: Asnociation places the flgures at $211 per capita. On the assumption of a population of some- thing in excess of 100,000,000 there appears a difference of nearly $5,000,- 000,000, The per capita savings in the Dis- trict of Columbia are given by the controller as $152.08. According to his statement, the savings deposits in the District of Columbia are, therefore, about $6,000,000 less than the average throughout the United Btates. Tak- ing the figures of the American Bank- ers’ Association, savi deposits in the District are nearly $30,000,000 lesa than the average States. E According_to” the report of the American Bankers' Assoclation the per capita savings in Pennaylvania are $243, and in Maryland, $263, or almost $100 per capita in excess of the District of Columbia. In other words, with a population of 600,000, =avings deposits in the District are $50,000,000 less in g;nmrtlon than in Pennsylvania and Maryland. R. F. & P. Rallroad Prosperous. Recent declaration by the Rich- mond, Fredericksburg & Potomac Railroad of an extra 6 per cent and the regular semiannual 81 per cent dividends on common stock bring the the year's disbursements up to 12 per cent. This company is controlled by the Richmond-Washington Co., which owns $947,200 out of $1,316,900 voting common stock. Btock of the Richmond-Washington Ce.. in turn, is owned equally by the Baltimore and Ohio, Seaboard Alr Line, Atlantic Coast Line, Pennsylvania, Southern and Chesapeake and Ohlo. The R. F. & P. is an exceptionally profitable raflroad, with its tonnage necessarily heavy in proportion to trackago. With the exception of the Southern Railway, which has its own ralls to Alexandria, the other com- panies interested in Richmond, Fred: erickshurg and Potomac are depend. ent upon that rallroad for their north and south conneéctions between Wash- ington and Richmond. The controlling railroads are réceiv- ing an increasing share of earnings year by year. The dividend rate has been increased from 9 per cent in 1916 to 12 per cent, including extras now paid. A 100 wr cent stock dividend in “dividend obligations” also was re- ceived in 1923. Southern Dairfes Total Assets. Tn addition to the increase of 24 per cent In gross sales of the South- ern Dairies Co. for the first 11 months of the present year, the firm's balance sheet as of October 31, the last one issued, shows total amsets of $14,635,112, of which current assets amount to $1,682,760, including cash on hand of $509,402 and accounts re- celvable of $447,812. Land, buildings and equipment, less depreciation, are shown at $586,042. Total current lia. bilities amount to $509,981, giving a ratio between current assets and cur- rent llabilitles of better than three to one. Net working capital is reported at $1,172,779. Bank Celebrates Christmas George O. Walson and the whole Liberty National Bank family held their annual Chrstmas party at the bank last evening. The officers were special guests. A dinner and speeches were among the features. The role of Santa Claus was taken by I K. Shoemaker, one of the directors, who saw to it that every guest present ‘was remembered with some especially appropriate gift. Richmond Bank Reflects Season. Christmas trade turnover was chiefly responsible for a drop in the re- serve ratio of the ral Reserve Bank of Richmond during the week ended December 22, This factor was % | responaible for an increase in Federal 56% 8% 70 68% 63% . 38% e 169% ... 116% }:g’vz U 8 Steel pt (7). 120% 1 Universal Pipe.. 33 83% Univ Pipe pf (7). 86% 87 UtI PALt A (e2). 28% 28% Van Raalte. . 14% 14% 3 4% 4Th Viek Chemical fore 104 36% 86% [ 110 42 4% 6% 6% 19% 20 80 30 43% 67% 564 8% 614 Aloohol (5). Realty (4).. Rubber. Bmelt (3 159% 116% 120% 33 864 28% 14% 46% 10% 864 % % 110 42% USSteel wi. Vivaudou rts Vivadou pf (7) ‘Wabash. .. ‘Wabash pf A(6). Walworth (1)... Ward Baking B ‘West Mary! % West Md 2d pf. .. B6% | West Pacific. ‘West Pac pf ( ‘West Union (8). Westhse AirB 18 ‘Westinghse (4). 146% 146% 143% 148% 9% 69% 16% 16% 26% 26% 44% 45% 26% 26% 58% ‘Willys-Overlat 70 | Wiison & Co(A) . ‘Woolworth (16). 18! Woolworth wi.. 12 wortn Pump(A) Wortn Pump(B) wright Aero (1). Yale& Tne (16). Yeliow Tr (76¢). 89% 90% ‘Youngstown (4) . 12n 740.1¢ 987,300 2 p.m.1,118,000 yr—n ular rate. '?-"egr'n'mo&wfi puvable 2% %. J% in stock. = H 11a.m 1pm. % jus n stocl as 4% |8 atoc arable 1/40 0f @ share quarterly in % in stock. 14 Tt "'.{;'.3"“ v o e ‘eath, Dayments o & halt yearly doclardiiony’ otberw fi‘“"‘%fil extra or specis] divi: oty 300 firtly extra. APayable 15, copmon etock 3P Upks St ok Guarterly. above tal on 1l Reserve note oirculation from $85,- 704,000 to $90,254,000 and a decline in member-bank ts from $68,940,- 000 to $62,008,000. Bills discounted % | were $1,818,000 higher at $29,461,000. from The Richmond ratio dropj 76.78 to 70.94 per cent. fs_com- pared with a ratio for the 12 banks combined of 68.9 per cent. Note circulation and rediscounts in the system as a whole also increased sharply as a result of holiday de- mands. Net Income Jumps 260 Per Cent. Net income of $2,881,008 reported by the Western Maryland Rallway for the first 11 months of 1926 was | Mor" equivalent to $16.28 a share on the $17,742,050 first cumulative 7 per cent preferred stock, or slightly over 2 1.3 times a full year's dividend require. ments. The stock has never dividends, and on January 1 will be $59.50 in arrears, November net income jumped 260 per cent above that for the same month last year, totaling $422,172 against $177,288. Net income for the 11 months exceeded the comparative 0% veriod last year by 70 per cent, Personal and Other Notes. President Joseph Schiavone of the International Exchange Bank has re- turned from New York, where he spent several days as the guest of Chevalier Pelermo, president of the Bank and Trust Co. of Sicily. ‘The Baltimore and Ohio Raflroad Co. will mark its 100th Christmas this year, and round out a centugy of existence two months hence on February 28, 1927. Business of the 8. 8. Kresge Co. this year has expanded greatly, 632 new stores having been opened, mak- % | ing 366 now in operation. The North American Co. $1,019,690 common stock of $10 par value, mak- ing a total of $42,054,350, has been admitted to trading on the New York Stock Exchange. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Zurich, Athens, adrid. pe lenna. crow: udanest, crow! asue, crown. arsaw. 2oty mn fll““l; crown. Stockholm, ¢ro a|N ., FRIDAY, DECEMBER 24, 1926. FINANCIA [ o BONDS o] Received by Private Wisg Bivrest to The }J&rln STATES. 101 12 10124 108 1088 102 26 102 2¢ 102 24 2 105 23 10521 108 21 8 10920 109 17 109 19 FOREKIGN. v 1944, USKass Argentine 6s B Argentine 7s. Australlan § Austria 7s Bank of Chile Belgium ¢, Canada s 1931, gnngnu 1952... nada 5%« 1929, , Chile 7n 1‘.‘u. Chile 85 1941, Con Pow Japan 7s. Copenhagen 5 1, Cuba 53, Danfsh Munic 88 A. Danish Munic 8 B. Denmark és. ...... DET5%s Moh 83, . DEIn534s Nov §3. Dutch Rast T 6x 47, Finland « £ 85 45 in the United | Ger ! i 00% CCC a8 ofs Bklyn Manhat ¢s, Buf R& Pitt 4% Can Nat 438 30. Can Nor 418 193] Car Clinch&O 6 .| Centof Ga 5% s Cent of Ga Central Pac Cent Pac 1st 68 Ches & Oevaln. .. ChIB&Qgn 4s 63. CB&Q-IIskys. ChiB&Qistres Chi&EIgnsée.. Sales. High. Low, 3:10. 11 100% 100% 100% 00% - Chi Great West 4s. 10 1 CM&StPab 4 CM&StPgndys. 3 CML!PP(IM.?“‘ 8 CM&StPovs CM&SP ov 58 ofs 14 CM&StPes LiYs. .. CCCaBtLrfésA. Clev Term s . Cuba RR 7% Cuba N R 65 86 Del & Hud 1at i Del & Hud ov 55 3b. Del & Hud 78 3 Den & Rio G on D& Rio G tmp 58 D Rio G West 5s. Erfe gen 4s. . ErieconvdisA... Erleconvds B. Erleconv4s D. FlaECEs74.... Gt Nor 4%4s8 76 D. Qreat North &s Great North 614s @Qr Nor gen 7s ud & Man ref 5s. Hud & Mas & 111 Cen 45 8. g | 1 Cen 4% s Japanese 6% s Jergens U M 65 47, Lyongs.... Marsetlle ¢ Mezico 4u 04 asntd. 15 Mexico 48 10 asntd. 111 Central . 111-C-C BtLANO bs. Int Rap Tran6s. .. Int Rap Tr Bs stpd. Int Rys C A 5s 72.. Towa Cent 18t 5 Kan City F't 8 4 Kan City Term Kansas City S Bs. 9% | Louls & N uni 48, y Norway 6s 1953 Orient Dev deb Paris.Ly-Med Queensland 7s. Rhinelhe Un 7s Rio de Jan A Rao Paulo f8 10 td Kingm 8% 837, 13 UtdSteamCopen 68. 17 Yokohama éswi... 21 MISCELLANEOUS, ‘; 107 107 Am Water Wks 58. Am Writing Pap 6s. 12 Ansconda 1st 8s 1 Anaconda ¢v ab 78, 10 Andes Cop Te rets.. T Armour Dal 5% Atlantic Refin 5 Rarnsdall Bell Tel PaSs B Bell Tel PalsC.... 8 Weth Rtee) %5 63, 94 Reth Stee! 6. 18 Bkiyn Ed gen fkivn Union 5%s.. 25 Bush T Blag 5n60. 8 Cen Leath 6a 45 ofs 5 Chile Copper 6532, # NYS%s.. 16 Caneov s 1 v 88 Wat Cuda Rux THS. fch 6S. ... Goedricl oy Tnt Mer Marine 6s. 41 Int Paper B8 47..... 22 ett & Myers 5s. !xim'-voazs- 52. ‘Manat! Bug 8 THs. Mid-Con 6% 40 no~Sacn - Swadanenateda ReeD 5 Hml-sArrU’:. blic Serv! ;“lfl‘v Gas 5%8 PServGass%s 6d. 1 Punta Alegre 78. Remingtn Arms Stnolair O11 és inclair O11 6%8. nolair Ofl 76 sSmma 1 102 ‘Winchester A 7% 1 104% Youngstn S&T ¢s.. 12 104 RAILROAD. Atchison gen ¢s. 17 93 AtaS F ovt 48 06 Atlantic C L 1st & Atlan C L 4%/ AtlantieCLe¢ B&Ogold s B&OovIys. 104% 104% 108% 104 Louts & Nash 5%s. Man Ry 18t 9 4 M Bt P &BSM 6%s. 4B . Pennsyl gen 4%s. . Pennsy! 58 64 Peoria & E inc 4s. Pere Marq 18t 68 Reading gen 4348, St L IM&S R&G TREASURY # o cxcaunce | | PRIGES ADVANCE INBOND MARKET ” Trading Light, But Scattered Accumulation Gives Values Boost. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, December 24.—Scat- tered investment buying advanced 86% | prices for the better grades of bonds OERTIFICATES. (Reported by J. & W. l‘fllw Co.) e e 0020405051 P SRR EIEERE bad 3020203 carots NN E5S33E. ESREEIES ST in today's light trading. There was no notable gain, but the reaction of the past two or three sessions ap- peared to have been definitely checked. In the speculative group thers was great irregularity, but most of the im-. portant changes were upward. The local tractions again were prom- inent. Reports that the Third Avenue would receive a bus franchise brought active buying into the bonds, and the adjustment §a were strong. On the other hand, New York Rallways 6 were definitely weak, showing & loss of a point and a half at 33. Inter. boro obligations were generally lower, but the selling here was not 8o pro- nounced. Brooklyn Manhattan 6s were not affected one way or the other. Investment demand centered about bonds of the grade of Anaconds 6 '-ml.ch were in active demand for Some of the sugar ere well bought, among them %8, Warner Sugar issues met support at the level to which they had fallen on the day before, In- ternational Mercantile Marine 6s rallied after thelr recent setback. Seaboard Air Line issues wers among the leaders of the junior rails. Sea- board adjustments and consolidated 68 both went higher. The only other feature in this group was the advance in_Erfe convertible D 4s. Forelgn issues were steady. Ital. fan Public Utllity 78 were admitted to trading and opened fractionally above the price at which they had closed on the Curb Exchange. {n the French list Seine 7s and Paris, :nnfi Il:lu‘ah{:onn:‘uun 08 gained ind n e e glan group the 6i4s dia . BUTTER IS HIGHER. CHICAGO, December 24 (#).—But- ter—Higher; receipts, 6,140 Nhh' creamery extras, 50; standards, ::(dn g;:t‘nl,%uu firsts, 43a45; sec- s, 3 s ; Ye- R v MERGER STILL ‘lAI;nD. NEW YORK, Dece: Possibility of a mt‘r“.:r :: ‘Mflu’-l‘: Trucks and White Motor Co. contin. ues to afford Wall Street gosslp, latest ral o plete the deal. e — EARNINGS ARE HEAVY. NEW YORK, Decémber 24 (#).—- The forecast for 1926 earnings of the x:-\::;nu(,'filond Telegraph Co. 18 that ividend requirem share will be about‘?wlca ::'J\:a' L Washington Stock E;ohange SALES. Wash.. Alex. & Mt. Vernon etts.—$1,600 W B 2 e dmac Elsc. ptd — " By 'fl%fl'f R TGRS, 1 SN, Rwy. & Blee. ptd—13 st 00%. AFTER CALL. RN Rl =10 ot 1004 . Money—Call loan lhl.ma:l. Bid and Asked Prices. BONDS. PUBLIC UTILITY. i fig e s ::‘R.'fi-“t;w-'fi | W e TRUST COMPAXY. ontal ontinent o 3 i . TITLE INSURANCE. | MISCELLANEOUS. These securities not listed rules. (s lropolitan’ Cli tia Bank