Evening Star Newspaper, January 5, 1927, Page 10

‘ - i D, FINANCIAL. sroranvee] ([NTEREST CENTERS FINANCIAL, MOTORS LEADERS THE EVI NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Sy’lfl\T‘. WASHINGTON, D. €., WEDNESDAY, JANUARY ‘TWELVE RESER VE BANKS ALMOST ! [ovvew v BONDS Received by Private Wire Direct to The Star Office. 1927, ININ( e IN STOCK MARKET Most Other Sections of Ex- change Comparatively Neg- lected in Trading. BY STUART P. WE 8pecial Dispatch to The Star. ¢ NEW YORK, January 5.—Automo- bile shares dominated the market again today. They were the leaders in point of activity and interest and in most other sections the market comparatively neglected. The arguments advanced by Wall Street for the recent strength in the motors are the stereotyped arguments isually given at this season of the car. There is the stimulus expected from the annual show. There is the trying out of new models. There is the remembrance that the season when the automobile trade ordinarily hecomes more active and shakes off the slackness of the Autumn is apt 1o start toward the end of January and last for another month at least. The features were Nash and Hud son. Nash made a new high fox. the movement still without any definite anation. The simple fact re- mains that while there has been no ‘Micial confirmation of negotlations ding to a merger, there has been 10 denial of the force which Wall Street would consider positive. American Water Works was put on an 8§ per which meant $1.60 a shar 20 par, and in addition it declared 2% per cent in stock. For the 12 months ended No- vember 30 the company reported earn- ings of $5.12 a share on the common <tock. This demonstrated that the dividend action was well within the bounds of conservatism. Among other public utilities, Montana Power ran up over a point and International Tel- eplione and Telegraph was strong for a time. In the oil group activity was re- sumed in Independent Oil and Gas to the accompaniment of reports of large interes n that company taking more a hand in the stock. WHEAT VALUES CLIMB AFTER EARLY DROP Smaller Argentine Shipments Have Bullish Effect on Chicago Grain Prices. By the Associated Prese. CHICAGO, January 5.—With Ar- gentine shipments forecast at less than expected, wheat rallied today from an early decline. Initial weak- ness was ascribed to lack of the ex- pected firmness in_Liverpool quota- tions. Opening at s to 33 cent off, wheat rose to about yesterday's finish. Corn, oats and provisions were firm, corn starting unchanged to % lower and then scoring gains. |AmC&F pe (7). 128% 128% 128% 128% | Am & For Pow. . Open. High. Low. Close. = 681 69 66% 66% KFamousPl(J8). Adams Exp (6).. 124 124 124 124 Famouspf(g).. | Adv Rumiley.... 10 10% 10 10% FedLight(*1.40) | AdvRumley'pf.. 34 343 33% 4% Fed Mot T(f8oc) { Ahumada(t60c) 5 5 | Flsk Rubber | AJax Rubber. . . | 9% | Fisk 1st pf ( | Ajax Rubber yts W w Fleischmn t21g ] | " { Allled Chem (6). 137 = 137% 136% 135%: Foundation (8). All Am ’ 2" 145 FoxFilmA (4).. m Cable(7). 145% 145% 145 145 GO TNIRA (4. - | Allled Cm pL(7) 1% 121% 120% 120% | Allss Chato ey 121% 89 89 | GabrielSn (3%) Amal Leather. 16% 17% | Gen Am Tnk (3). Amerada (2). .. Tt SR Am Agricul Chim 1 el e e Am Bank N (18), 42% 42% | Gen Cigars (4).. Am Beet Sugas" 25% 25% | Gen Clgar pf (7) Am Boseh, 17% | Gen Elec (h3)... A Br BovBi(t) 3914 391% | GenElec sp(60c) Ao T 48 | Gen Gas A(e1y) Am Can pf (77" 190% 1201 128% 128% | Gen Motor(t11). Am Car&Fdy (6) 100 100% 100% 100% | Gen Mot pf (7). Gen Outdr Ad(2) Gen Outdr A (4). Gen Ry Sig t Gimbel Bros Glidden (2) . Gold Dust. Goodrich Ru (4) Goodrich pf (7). Goodyear pf (7). Granby Consol. , Grt North pf (5) Gt Nr Ore(134). Grt Westn Su (8) Gt West S pf (7) Green Canan Gulf Mo & M . Gulf States (5).. Hanna 1st pt Hartman A (2).. HartmnB(k4.40) Hav El ctfs (6). Hayes Wh($3%) Hays W pf(715). Househld P t314 Houston Ofl..... .. Howe Sound(4) . Hud Man (2%).. Hud Man pf (5) . Hudson Mo(3%) Hup Mot (1.40).. Iliinots Cen (7). . 111 Cent pt (6). Indep Ofl (1)..., IndianRefg ctfs. Inland St (23%). . Inland Stl pf (7) Inspiration (2).. Interbor Rap Tr. Intcontl Rub(1). TInternat Agri. .. Int Bus Ma 134 . Int Cement (4). . Int Com Eng (2). Int Harv ($6)... IntMtch pf(3.20) Abrahm&Straus. 3 9% % 9% 128 22 89 9 Am Drug. 9% Iy 9oy Am Express (6). 128 128 21% 89 9% 128 21% 22% Am&FoPopf (7) @ 89 Am Hide& Lea.. 9 9 AmHide& Lpf. 51 52 b5l% AmHoP(2.40).. 31% 31% 81 Am Ice (110)... 125% 126% 125% 125% Am Ice pf (6 8 8 85 85 Am Internatl... 38 38 38 38 AmLaPFr(1)... 10 10 %% 9% Am Locomot (8) 107% 107% 107% 107% Am Locopf (7)..120 120 120 120 Am Mach & Fdy. 75% 75% T5% 6% Am Metals (4).. 43w 43% 43% 43% AmPo&Lt (1) 60% 61 60% 60% Am Radiator(5). 112% 1131 112% 113% Am Republic.... 38i% 411 38% 21% AmSafty R (13) 55 55 04 5% AmShip&Com. 6 6 6 6 Am Smelting (8) 140% 141% 140 140 AmS& Rpf (7). 121% 121% 121% 121% Am StIFdys (3). 44 44% 44 a4 Am Sugar (5)... 83% 84 B2% 824 Am Sugar pf (7) 108% 108% 108% 108% Am Sumatra.... 43% 44% 434 44% AmTel& Ca(5). 28 28 28 28 Am Tel & Tel(9) 150 150% 150 150% Am Tobacco (8).'121 121 121 121 Am Tobacco B (8 120% 120% 119% 119% Am Tobac pf (6) 110% 112% 110% 112% Am WaWoc1.20 65 67 65 65 Am W W 1st (7). 106 106 Am.Woolen..... 3% 33% Am Wool pf (7). 86% 86% Am Zinc pf. . 3 Anaconda (3). Archer-Dan (3). ArmourDel pf(7) Armour of TI1(A) Armour of 111(B) Artloom (3) Asso Dry G(2%) Asso D G 1st(6). 102 102 Atchison (7).... 164 164%'162% 163 Atchison pf (5). 99% 99% 99% 99% AUBIrm&At... % % % % Atlant CL (f10) 201% 203 201 203 AtlCoastLrts.. 17 17 16% 17 AtIGulf & WI... 41% 42 40% 40% AtIGulf&WIpf. 374 38 x‘izv. :g Atlas Powdr(t5) 60 60 Austin.Nichols.. 10 10 1 10 Atlantic Refing. . 113% 114 112% 112} BaldwinL (7)... 162% 162% 149% 150% Balto & O (6%) 107 107% 107 107 Balto & Oh pf(4) 78% T78% 73% 73% Bang & Ar (3)... 44% 44% 44% 444 Barnsdall A (2). 27% 27% 27% 27% Bayuk Cigar 52% 53% b2% 53% Belding Bros: 26% 26% 26% 26% A1% Int Mer Mar pf Int Nickel (2). Int Paper (2) Int Paper pf (7). Inter Salt (6). .. Int Tel & Tel (6) Jewel Tea Jones Bros Tea. Jordan Motor. KCP & L 1st (7). Kan City South Kayser J (4) Kayser pf (8). Kelly-Spring. ... Kennecott C (5). - 122 Open. High. Low. 113% 114% 113% 121% 121% 121% 41 a1 27 46% 106% 106% B5% B86% 54% 65 116 116 163% 154% 121% 121% 38% 56 8414 4l 112% 113% 118% 118% 31 31 20 1013 1 43% 61% 40 40% 80 7% 223 1221 122% 122 30% 0114 43% 301 63% 6% 66 66 125 126 126 55 58% 66 11% 11% 11% 22% 22% 21% 113 113 118 4 118% | Close. 114% 121% 31 35% 65 59% 142% 63% DOUBLE EARNINGS DURING 1926, Net Profits This Year $16,610.000 Against $9.450,000 in 1925—Trading Is Light on ;. Washington Stock Exchange. BY EDWARD C. STONE. It was reported today that the 12 Federal Reserve Banks almost doubled their net earnings last year, with profits of $16,610,000 as compared to $9,450,000 for 1925. Gross earnings of the 12 banks for 1926 wege $47,600,- 000, or about §$5,800,000 more than in 1925, The Reserve banks in Boston, Rich- mond, Minneapolls and Kansas City paid $818,150 into the Treasury as franchise tax, while the net carnings of the elght other banks were trans- ferred to their surplus accounts. The report further states that the total subscribed capital of these banks on January 1 amounted to $249,628,- 000, and the combined surplus ac- counts were $228,775,000. Trading Light on Exchange. Capital Traction sold off a bit on the local Stock Exchange today, 10 shares changing hands at 103% and 10 at 103%. Potomac Electric Po: preferred sold at 10 Two bank stocks were out, one share of Liberty National selling at 20612, and 10 more | at 206. Ten shares of Riggs National sold at 453. In_the bond division Capital Traction 5s sold at par, Cif and Suburban bs at 93 and George- town Gas bs at 9814. American Security & Trust, and Union Trust stocks were quoted ex dividend, as was Iederal Storage preferred. Trust Company Appoints Auditor. At a meeting of the executive board of the Washington Loan & Trust Com- pany late vesterday afternoon, Ralph Endicott, who has been employed by | the bank for the past eight years, was made auditor. Mr. Endicott has re- cently held an important position in the bookkeeping department. His new position is one that the company is| now creating. The new auditor is a native of New Jersey, having come to Washington from a bank in Atlantic "% 37% 88% b 968 125% b7 11% 21% 113 41% 50 61% Bethlehem Steel. 47 47% 464 47% Beth StI pf (7).. 105 105% 105 105% | Bloominedale... 89% 39% 39% 389% L 53% 53% b53% 53% % % T Th . 28% 28% 28% 284 Briggs Mfg (3).. 29 20% 20 20% ‘Emphasizing announcement today that wheat sshipments from drgentina this week would be of diminished vol- ume as compared with previous indi- cations, word was also at hand that Australian exports would decrease. The shrinkage, however, in each case appeared to be temporary, advices saying the Argentine crop is turning out as estimated, and Australia is lag- =ing on account only of shortage of steamers ~ for immediate shipment. Some wheat buying today was on opinion that the cash wheat situa- tion in the United States is so strong that higher prices for future deliv- erles must result. On the other hand, sellers were influenced by bellef that Argentine offers are leading to a lower level of values. New Bond Issues NEW YORK, January 5.—A group headed by Alfred & Co. and including Harris, Forbes & Co., the Bankers' Trust Co., Minch Monell & Co., Inc., and the First National Corporation of Boston are offering $10,000.000 in In- ternational Power Securities Corpora tion secured 7s, series “E,” due 1957, at 96% to vield 7.30 per cent. The londs are secured on the property of the Edison General Italian Electric Co. Reilley, Brock & Co., and Stroud & Co. offer $2,500,000 Nineteenth and Walnut Street, Philadelphia, first mortgage 6 per cent bonds of C. Ben- ton Cooper. The price is par and the bonds are due January 1, 1930, A group headed by George B. Gib- bons & Co. offers $4,614.000 City of Rochester, Y 8, with serial ma- turities from 1928 to 1957, at prices to vield from 3.60 to 3.95 per cent. The bonds are legal investments for #avings banks and trust funds in New York State. Wood, Bundy & Co. offer $5,700,- 000 City of Montreal 4%s, due 1966, at 96 to yield over 4.17 per cent. The bonds are non-callable. DRY GOODS QUIET. NEW YORK, January 5 (Special).— Cotton goods markets were quiet to- day, with prices . shade weaker. Print cloths were quoted at 6%c for 84x80s and 7% for 65xi2s, the latter a Gaduction of ¢ Raw silks were quiet =& unchanged in price | DIVIDEND INCREASED. i NEW YORK, January 5 (#).—Direc- s of the Am 1 Waterworks and ctric Co. today increased the regu- lar quarterly dividend on the common atock from % to 2 per cent and de- clared an extra dividend of 2% per cent on the common stock, payable in eommon stock at par. BUTTER IS LOWER. ~ CHICAGO, January 5 (P).—Butter ; 6,089 tubs; creamery standards, 461;; extra fi 1304414 seconds, receipts, 4,381 ordinary firsts, r extras, 34; refriger- ator firsts, FREIGHT TRAFFIC GAINS. NEW YORK, January 5 (). Freight traffic on the Chicago Great Western in 1926 increased to 348,851 carloads from 327,259 in 1925. Bkin-Edison (8). 154% 164% 154 154 Blkn-Mn Tr (4). 68% 68% 67% 67 Bkin Un G(f11). 91% 91% 91% 91% Brown Shoe (2). 33% 34% 383 33 Brown Sh pf (7). 110% 110% 110% 1.10% Brunswick Balk. 87% 37% 386% 36% Brunswick Ter.. 14% 14% 14% 14% Burroughs (t4). 120 120 120 120 Kinney G R (4). Kraft (I11%)... Kresge §8(1.20). Lambert Co (5) . 45 5% b4% 66% b54% ba% 44 46 116% 1 11% 44 46% 17 12 Reading 2d Real Silk Ho: Remington Type Replogle Steel. . . Rep Ir & Stl (4). Reynolds Spngs. Rey Tobac B(5) . Robt Rels & Co. . Royal D (a3.078) Safety Cable (4) St Joseph L(13). StL & SanFr (7). Schuite (§8).... Seaboard Air L. . Seab Alr L pf. Sears-R (n2%). Seneca Copper. . ShellT&Ta2.17% Shell Union (12) Shell Un pf (6).. 67% Lee Tire & Rub.. 7 Leh&Fink stf(3) Life Sav (1.60).. Lig& M B (14).. Lig& M pf (7). Lig Carb (3.60). . Loew's Inc (13). Loft Loos: Saies Loose W 2d (7) 367 22% 100% 122% 51 48 6% 156 164% 67% 7 87 23 101% 126 51% 48 6% 164% 164% . | Stmmons(t2.26). 86% | Simms Pet (1).. 22% | Sinclair O1l. ... Sloss-Sheff (6). . 51% | South Port S (6). 48 | Sou Calif Ed (2). 6% | Sou Dairles A(4) 160 | South Pac (6)... 164% | Southern Ry (7). Bush Terminal.. Bush Ter de (7). 91% Bush Trm pf (7). 105 Butte Cop (50c). 4% Butte&Super(2). 11 Butterick (m2).. b2% Byer & Co... By-Products (2) . Calif Packg(4).. Calif Petrol (2) Calumet & Ar(6) 66 Calumet&H(1%) 15 Can Dry (c2%). 86 Can Pacific (10). 166% Case Threshing. 148 Central Alloy(2) ' 28% Cent Leather.... 9% Cent Leather pf. 56 Cent Leathr ctfs * 8% Cent Lea pf ctfs. 56 Century RibM.. 11% Cerro dePas(15). 62 Certain-Teed(4). 42% Chand-Cleve.... 9 Chandler pf(2%) #2% Ches & Ohio (112 162 Chi & Alton. e Chi & Alton pf % Chi Great West.. 8% Chi Gr West pf.. 24 Chi MII&StP. 9% Chi MI&StP pf.. 19% C M&StP cfs, 9% Chi & Nwn (4 Chi & Nw pf (7). Chi Pneu T (5) CnRI& P:;: RI&P ( . CRI&EPpL(D. 1034 Childs (32.40)... Bl Chile Cop (2%).. 34% Christie B (1.20) 2% Chrysler Corp(3) 424 Chrysler pfA(8). 103 Cluett Peab (5).. 60% Coca-Cola (7) ... 170 Collins & Alk(4). 63% Col Fuel & Iron.. 43% Colo Sou 1st (4). 70 Col Gas new (5). E9% Col Gasrts...... 3% Col GRE pt A(8) 101% Col Carbon (4).. 67 Com Credit (1).. 17 Com Cr pf B (2)., 22% Com Solv B (8).- 228 Congoleum N... 19 Congress Cgr ( Con Cigars (7). Consol Distribut Consol Gas (5). . ConfRCuba pL & Consol Textile. .. Cont Bakg A (8). Cont Baking B.. Cont Bak pf (8). Cont Can (16)... Cont Insur (6).. Cont Mot (80¢). Corn Prod (12%) Corn Prod pf(7). 129 Coty Inc (4).... b6’ Crucible Steel(8) CubaCaneSugar. Cuba Cane Su pf. Cuba Co (4). . Cuban Am 8 (1) Cudahy Pkg (4). Cushman’s (8).. Cuyamel Frult.. Davison Chem. .. Del & Hud (9) DelL&W (17).. DRG Wstpf... Detroit Ed (8) Dodge BrosCl A. Dodge pf (7).... Dome Mines (2). 11 70 70 1% 0 o4% 13% Y Ve AU 134% 30% 30% 30% 30% % Nu 105 105 105 4% 4% 4% 11 52% b2% b52% 91% 11 45% 47% 45 68% 68% 68 70 81% 381% 81 66% 66 70 15 37 166% 148% 14 1 28% 28% 28% 9% 57% 5 8% 56% 56 1% 62 43% 4 9% 3 2: 1 4% % 8% 24 % 9! 19% 1 9% 9% 79 79 . 125% 125% 125% 125% 120% 120% 120% 120% 69% 95% 95% 95% 033 1033 103% 51% 51 4% B4% 347 421 105% 103 0 1 5% 85 43% 604 171 64 45% 43% 44% 70 89% 89% 8% % 3 3 % 100% 100% 67 67 70 3! 101 67 17% 17% 1% 17% 22% 2831 227% 228 19 53% G4% 22% 21 55 2 £81% tda 3% 14 108% 108% 108 0 0% 3% ATV: AB% 474 B4TH 29 564 8% 10% 129% 1 656% 108 L2% <8 3 165% 165% 61% 61% 162% 1‘61% 161% Lorrillard (§8) Louisiana Of1 LoulsGasA (1.75) Ludlum Steel(2) McCroryB(11.60) Mcintyre P (1). . Mack Trucks (6) Mack T 1st (7).. Mackay pf (4)... Macy HR & Co. Magma Cop (3) Mallison & Co Manati Sugar 1n 45% 68 70 81 66% 15 87 5 6 T% 147% Man Shirt (1%). Marland Oil (4). Martin-Pary(2). May Dept St (8). Maytag Co (2).. Mexican Seabd. Miami Cop (1). Mid-Continent. Mid-Cont pf (7). Middle States. . . Mid States Oil ct Mo Kan & Tex. .. MoK &T pf (6). Missouri Pacific. MissouriPaoc pf. . Montana Pow (5) Montgmry W(4). Moon Mot (1%). Mothr Lode(75¢c) Motlon Pic (1).. Motor Met (3.8 Motor Whi (2). Mullins Body Munsingwr (3) Nash Mot 13%. . Nat Bisc (16%). 9 6 8% 9% 57% 8% 56% 1% 11% 2% 42% 9 9% 2% 22% 4% % 4% % 9% 9% 9 69% 95% 51% 35 48% 103y | Nat Dairy (3). Nat Distillers pf. NatPw&Lt(80c). Nat Supply (16). Nevada C (1%) . NY Afr Brake(2) N Y Canners. NY Central (7). NY Chi&StL(11) NYC&StL pt(6). NY & Harl (5) NY NH & Hart. NYOnt&W Niag F pf (1%). Norfolk South. . . Norf & W (110). NthAm b10% stk NorAm Ed pf(7) North Pac (5)... + | Gunibus | Orpheum Cir(2) . Otis Elevator (8) Otis Elev pf (6) . Otis Steel....... Owens Bot (ct6) Pacific Gas (8 Pac Oll Stubs Packard (12.90). Paige Motor. 103 | Pan-Am (6) 49 | Pan-Am B (). 33% | Pan-AmWnB(2) . 27% | Panhandle b1t | Park & Tilford. . 108 | Pathe Ex (c3). 424 | Peerless Mot Penick&Ford Pa Dixie Ct(80c) Pa Dix Ct pf (7). 70 22% 19% 4h 1% 108% | 0% | 15 4% 0% 129 56% 8% 28 | % 173% | 140% 140% | penna R R (3%) 1 1 46 41 414 penp-Seab Steel. 34% 134 1343 | b, 8). 127 e ) Peoples Gas (8) 81% 824 Bl% 274 Bl 10% 10% 46 46 Pere Marq pf(5). Phila Co (4). . Phila& RC&TI.. 32% 82% 17% 24 28 25% 26% 57% 5% 20% 20% 3% 37% 1% 73% 97% 98 40% 41% 1% 1% 19% 20% 44% 44% 141% 142% 189% 190% 103% 103% 176% 175% 8 183 31 129 109 8 8 129% 13% 13% 31 31 129% 130% 109 109 8 8 78 8 129% 129% 4014 20% 21% 384 99% 6% 67 % s 127 127 90 90 90 B 82 17% 24 29% T2% 25% 93% 111 125 34% 15% 41% 56 49% 25% 28% % 16% 35% 104 1% 1% 82 7% 38% 905 82% 67% 11% 4% 12% 37% 72% 9T 41 1% 20% 44% 21% 84 14% 42 21% 140% 190% 24% 29 40 46% 9% 8% 13% 3 130 109 62% 87 14 22 21% 3s1 9914 b7 127 % | woolworth South Ry pf (5). Spicer Mfg..... Std Gas & El g3. Std G & El pf(4). Std Mill (5)..... Std Of1Cal 12% . Std O1l NJ(11%) Std Oll of NJ rts Std O11 NJ pf(7) . Std O11 NY (1.60) Std Plate Glass. . Sterling Prod(5) Stewart War (6). Stromberg (6)... Studebaker (5). . Submarine Boat. 11% 56% 564% 50% Texas Co (3).... ‘Texas Corpn (3) ‘Tex Gulf Sul (4) Tex & Pacific..... b4y Tex&PacC&O0. 15 15 15 15 Texas Ld Tr(8). 1980 1995 1980 1995 The Falr (2.40).. 26% 26% 26% 26 Third Avenue... 39% 39% 39% Tide Water(1%) 28 28 3 27% Timken (15).... 79% 81 9% Tobac Prod (7).. 109% 110% 109% Tob Prod A (7).. 116 Transcont Oil... 4% Twin City (6)... 65 Underwood (4).. 46% UnBag & Paper. | Un Pacific (10).. Un Pacific pf(4). Utd Clgar S (c2). Utd Drug (8)... UtdDrg 1st(3%) United Fruit (4). 119% U S C1P&F(10). 220% USCIPRf (7). 114% U § Distributing. U S Hoft (13%). U 8 Alcohol (5). U SRealty (4).. U S Rubber..... U S Rub 1st (3).. USSmelt (3%). U S Steel pf (1) Universal Pipe. . Utl P&LL A (€2). Vanadium (14).. va-Caro Chem. . Va-Car Ch 6% pt vivadou (3) Vivaudou rt Wabash...oore- Wabash p A(S)- Wa]dorfu:l(‘f)) . ‘Walwor see ard Baking B. - ‘West Md 2d pf. West Pw\fl;:.“). - t Pac pf (6)- T eethso AlrB {8 138% Westinghse (4). 68% yhite Bagle (2)- White Mot (4). - ‘White SM pf(4). Wickwire CLs. - - willys-Overland 22% Wilson &Co. ...+ 130 Wilson & Co(A). 29% Wilson&Co pf(7) 8% 16). 180% 122 City. He is a certified public account ant and has taken many courses in the local Institute of Banking. Will Exercise Victor Option. Speyer and Co. and J. and W. Selig- man & Co. are preparing to exercise the option they hold on a controlling interest in the Victor Talking Machine Company. This option, obtained from Eldredge R. Johnson, founder and president of_the company, covers a substantial majority of the company’s capital stock and provides that an of- fer be made on the same basis to mi- nority stockholders. The tr the status of a closed corporation to that of a publicly owned organization will, therefore, be accomplished with- out the formation of a new corporate unit, and the company whose securi- i ties are shortly to be offered to the public will be the identical company founded 25 years ago. Insurance Directors Named. The annual meeting of stockhold ers of the Firemen's Insurance Co. of i Washington and Georgetown was held yesterday and resulted in the election of the following directors: John W. wner, Bruce E. Clark, 1 . Parke A. Galleher, Hoffman, J. Logan Hop- Albert W. Howard, Charles H. Kindle, Harry M. Packard, John H. Snyder, Schuyler $. Symons, Albert W. Walker and James M. Woodward. William M. Hoffman, the president, reported a very prosperous year. He was re-elected. Albert W. Howard tary and James M. Fitzpatrick, jr., assistant secretary Mortgage Company Meeting. At the annual meeting of the tional Mortgage and Investment Cor- poration, held Jacob S. Gruver, Gen. Williard and Hugh A. Thrift were elacted | members of the board of director: | The other members are James A. Bailey, Prevost Bovce, Col. M. C. Buckey, C. S. Taylor Burke, Apple- ton P. Clark, Fred T. Dubois, H. Rozier Dulany, H. Prescott Gatley, Frank J. Hughes, Harry A. Kite, Wil- liam O. Pierson, Georze E. Walker, William D. West, Clarence F. Don- ohue and James H. Preston. an excellent business vear. His re- port showed that the corporation paid ing1926, in addition to the regu- five dividends on the common shares | five dividends on the common shares { and that it increased the surplus from $540.310.90, as of December 31, 1925, to $638,195.41, as of December 31, 1926. The 1926 financi | mitted at yesterda; ASS 1 statement sub- meeting follows: | cash on hana .. First trust notes receivabl Second trust notes receivabl Collateral notes receivabla . C. tax sale certificates . Real eatate ... i Accounts receivable . : Stock subscriptions receivable Total . e LIABILITIES loans payable . wed from Construction e 5 Notes® otes| Dayabl $2.218.7 998.300.33 Surplus 2 | Balance Jannary 1. 1926 .. Net. prof | ‘cemmber 3107, oo ended. Total .... Divictond paid vidends paid on e ck $326.5 Federal fncome tax 1o ook S330 esenve for contingencies . $415,310.90 473,468.38 i i Grand total . 08.164.92 Becomes Resident Partner. Stein Brothers & Boyce, Baltimore investment banking firm, announces glhnt William W. Mackall, jr., has become resident partner of this con- cern in Washington. Mr. Mackall ! has Been connected with the Wash- {ington office for the past five years and will continue as manager. The nth(:r members of the firm are Julian - Stein, C. P. Boyce, Henry C. Evans nd William T. Childs. Fifth District Bank Report. The Federal Reserve Bank ot Rich- mond reports that the total volume of credit in this territory is under last year's figures on the same date. The decrease in demand for Reserve bank credit in the fifth district has been chiefly in the banks of the larger citles. Banks In agricultural sections also have liquidated their indebted- ness more rapidly than might have heen expected under the existing low prices for cotton and dark tobacco, says the Richmond report. Other Financial Notes. Representative Frank R. Reid, president of the Great Northern In. surance Co., of this ecity, is in Chicago on business in connection awith the newly established branch in that city. Application is to be made to list both the Barber & Ross bonds and the new common stock on the Washing- ton Stock Exchange. The common is being offered at $38.50 per share, the directors having expressed their intention of paying $3.50 per share annually on this stock. S. W. Straus & Co. are offering an issue of $4,000,000 first mortgage 4 to 16 vear, 6% per cent serial coupon gold bonds of the Adams. nklin | Building Corp., secured by the 16- story Adams-Frankun Building, Chi- cago, 111 { | i i POTATO MARKET FIRM. _ CHICAGO, January 5 (P).—Pota- toes—Recelpts, 60 cars; on track, 201 total United States shipments, 71; demand and trading moderate; mar. ket firm; Wisconsin sacked round whites, 2.85a2.50; mostly 2.40a2.45; bulk, 2.40a2.50; 1daho sacked russets. 2.75a3.00; mostly 2.80a2.90, 3 FEDERAL LAND BANK BONDS, (Quoted by Alex. Brown & Sone: Closing) Rate—Matu 5 Now nsfer of the company from . was elected vice president and secre- | Holbrook | President Frank J. Hughes reported ' { | UNITED STATES. f | (Sales are in $1.000.) i Sales. High. Low. 3:10 128 101 16 101 12 A01 14 61032 102 20 10229 . ,‘;;Z 101 10029 101 : 10119 101 17 101 19 Lib 4th 435 477 103 16 103 13 103 13 US3%s.... 51 10310 103 10 103 10 US4s1944. 51 1069 1056 1089 US4%sb2. 511010 1106 1106 FOREIGN. Sales. High. Low. 3:10. Argentine 65 Ju59. 15 98% 9% o1e Argentine 6sOct59. 11 Argentine 6s A Argentine 6s B Argentine 7s Australian 5s. Austria 7s. . Rank of Chile 814y, Bank of Japan 6s. . RBelgium 6s. .. Belgium 6%s. .. Belgium 7s Belgium 7s ct. Belgium 7%s. Lib3%s... | | | Bordeaux 8s. . Brazil 6%s Rrazil 7s. Brazil 8s. Canada 5s 1931. Canada 531952 ... Canada 55 1929. . Chile 75 1948 A i Chile 8= 1941 Chile 85 1946...... Chinese Gov Ry §s. Con Pow Japan 7s. . Copenhagen 5%s. . Cuba 5%s Czecho 7%s rets Czecho 83 1951. . Czecho 8s 1952 ct. . Danish Munic 8s B. Denmark 6s. < Dutch East T 6s 47. Dutch East 1 65 62. El Salvador 8s 48.. . Finland s £ 68 45 Finland 7s..... Framerican 7%s French 7s. French 7% | French 8s. German E1 man7s........ | Ger Am Bank 7s. GerGen ElecT7s. .. 108% 106% les. High. Low. 3.10. West Elsc 5s. ‘Westinghouse Willys-Ov 8%s Wilson & Co 1st 6s. Winchester A 734s. Youngstn S&T 6s.. 16 104 RAILROAD. Ann Arbor 43 Atchison ad) 4s n 4 Atlantic CL 1st 4s. At] & Dan 1st 4s 48, 1 sl 1 80 B&O PLEWY dn. . B&O SwDIivbscfs 13 gk& O Toledo 4 lyn Manhat s Buff R & Pitt 43, Can Nat 4%s54. .., Canada South 5s. . Canad North 61¢s. . Canad North 7s. . .. Canad Pac deb 4s. . Centof Ga5s. ... Cent Pac 1st 5s 90, Ches & O ev 4148 Ches & O gn 4145 ChiB & Qgn 4s 53. Chi B&Q 1strf 5s. CB&Q-T113%s. CRB&Q-Tll div 4s. , Chi & E 111 gn 58 51 Chi Gt West 4s '59. CM& Puget S 4s. . CM&StP4s25. .. C M&St P 45 25 ofs. CM&StPdb4s. .. CM&StP deb 4s cfs. CM&StPevatss. CM&SPevits32ets 19 CM&StPgnils. CM&StPrf4ls, CM&SP rf 4145 cf14102 CM&StP6s... Chl & NW ref 53 Chi Rys 5s. s ChHiITH&SESs Chi T H inc 6s 60. . Chi Union Sta 5s 44 Chi Union Sta 614s. Chi & W Ind cn 4s. . CCC&StL4%s... CCC&StLrfésA. Clev Term 5s C&S1stas2y. Colo & Sou 4%s. Cuba RR 5s. . CubaRR 6s 1936 cfs Cuba RR 7% . | Japanese 4s. . | Japanese 6%s..... Jergens U M 63 47. { Lyon és... Marseille 6s. Mexico 4s 04 asntd. Mexico 4s 10 asntd. Mexico 5s asntd Montevideo 7s Netherlands 6s Netherlands 63 72.. Nord 6%s. Norway 5% . Norway 651943 Norway 65 1944. Norway 61952 Orient Dev deb 6s. 100% 108% 941 o8Y 25% 23% 40% 101% 103% % 107% 94% 98% 101% 4 1011 1014% Cuba Nor 65 66.... Del & Hud 1st rf 4s. Del & Hud cv 58 85. Del & Hud 7830. . . Den & Rio G en Den&Rioq 4% D Rio G West 58 Det United 4% Erie gen 4s. . Erie conv 4s A Erie conv 4s B Erle conv 4s D. Fla EC5sT4...... Gr Trunk stab 6s. . Grand Trunk 7s. Gt Nor 43876 D Great North 5s. . 100 - 10 944 9n 4 10174 101% 101% - 41 101% 101% 101% - 2 101% 101% 101% 5 101% 101% 101% 4 104% 104% 104% 108% 104 9% 9% T9% 81% 87% B8T% 93% 92% 93% 2 94% 94% 24% 80 244 9% 974 100% 101 100% 101 80 23 102% 102% 102% 16 108% 108 29 98 108% 934 102 82% 29 24% 95% 105% 117% 115% 84% 104% 108% 937% 114% 108% 1061 91% 94% 91% ON FOREIGN BONDS Particular Issues Selected for Favor in Domestic Group. Steels in Demand. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, January 6.—Foreix: bonds continued to hold the center of the stage In today's trading. The gains were not as pronounced as yes terday, and different leaders wer taken up. But this section of th: market was still very strong. In the French group French gov ernment 71s sold once more at 106 which was the highest for all time and French 7s ranged around par which was only a half point below their best. It was French raflway provincial and industrial bonds, how ever, that were In the greatest de mand. Gains Were recorded by Frenc Steamship 7s, Est Railway 78 and Paris-Orleans Department of th Seine 7s made a new top at 98%. Al this group seemed to he working to ward a 7 per cent basis, and buy did not discriminate greatly betwer the various fssues as long as they ca: ried a 7 per cent coupon and wer selling below par. Italian government 7s were mor active and fractionally higher, # though the floating supply is so larg that they move normally over a na row range. Italian Public Utflity © went up with the Italian governmen obligations. The lower-rate Belgia issues were the favorites in that pa: of the list. Belglan 64 and 6148 bot! sold at new high prices. In domestic bonds particular ssue were selected for buying favor. On of the features was Hudson and Mar hattan incomes 5s, which sold at 5 for the first time in their histor. There is still a larger spread betwee the price of this bond and of th senior issue, the refunding bs, ths is to be found In almost any sii ilar two obligations of the same co pany. International Great Northe ran up a half point and Erle A 4s d plicated their previous high of 80 Other leaders in the junior rai included Wheeling and Lake Ei 4128 which jumped a point betwe: sales on reports that buying for co: trol was in progress. Local tractions were steady and = generally were the sugar bonds : though the Antilla 73.s, which we: so promigent a week ago, sold o fractionally. .American Beet Suga 6s made a new high on the recover These bonds are convertible into con mon stock at $50 up to February next and at $60 thereafter to I'c! ruary 1, 1930. The high-grade investment Mst w firm but without particular featu: There was some buying of the oblix | Paris.Ly-Med 6s Parfs-Ly-Med 7s. Paris Orleans s Peru 7%s. Peru 8s. . Great North Hocking Val Gr Nor zen 7s. Hud & Man ref 4 108% 108% | tions of the independ®nt steel cor 114% | panies, among them Midvale Steel 98% | There was also more interest talk lie 5%s.. 1% Poland 6s 40 Poland 8s. Prague T3s. . | Queensland 7s Rhinelbe Un 7s. Rio de Jan 85 47. .. Sao Paulo 8s 1936, Sao Paulo 1950. ... Saxon (PW) 7s. Sefne 75 42.. Serbs Crot Slo 8s. . Sofssons 6s. Sweden 5145 ct. Swiss 5145 1946 Swiss Confed 8s. .. Toho Elec Pow 7s. Tokio 68........... 28 Utd Kingm 5%s37. 29 UtdSteamCopen 6s. 32 Yokohama 6s w1...140 | MISCELLANEOUS. | Afax Rubber8s.... 7 106 106 | Am AgriChem Ti2s 9 104% 104 Am Cotton Ofl 5s... 3 95% Am Smit & R 1st 58 16 101% | Am Sugarref 6s... 7 1054 |AmT& Toltras.. 67 98% 2 1034% 53 101% 107 106% 6 984 » 60 35 104% 26 109% 8 108 6 92 42 95% 3 101% 12 799% 25 103% 1 104% 17 99% 10 101% 94 97% 23 102 5 104 2 104% 1 160 Am Water Wks 5s. Am Writing Pap 6s. Anaconda 1st 8s. .. | Anaconda cv db7s. Andes Cop 7s rets. . Armour&Co 415srf Armour Del 5%s. Atlantic Refin 5s. Barnsdall 6s ctts. . Bell Tel Pa 5s B Bell Tel Pa 5s C. Beth Steel pm 5s. Beth Steel rf 6s. Beth Steel 5125 5: Beth Steel 6s ¢ Brier H St 1st 51¢s. Bklyn Ed gen 5s. .. RKlyn Unfon 5%s.. Bush T Bldg 55 60. 3 100% Cen Leath 6s 45 cfs 4 101% Chile Copper 65 32. 169 110% Commonwlth P 6s. 3 104% Con Coal Md 1st 5s. 11 81 Con Gas N Y 5%s.. 17 10614 Consumers Pow bs. 7 1024 Cuba Canecv 7s... 17 96 Cuba Canecvgs... 11 99% Cuban AmiSug 8s.. 7 107% Det Edison ref 6s.. 14 107% Dodge w 1 8 114 96 Duquesne Light 6s. 1 106% Wst Cuba Sug 7%s. 10 108 Empire G & F T1%s. 15 105 Fisk Rubber 8s. ... Goodrich 63%s. .- Goodyear 85 1931.. Goodyear 85 1941.. Hershey 54S. - Humble O & R Tilinols Steel 425 . . Int Mer Marine 8s. | Int Paper 5s 47 Int Paper 6s. ItT&T5% Kan CP&L 58 Kan G & E 68 52 Kelly-Spring 88. Lackawa S5s50. .. Laclede G 5%s52. . Loulsv G & E 55 52 Manat! Sug st 7%4S Mid-Con 6%s 40... Midvale Steel 6 5 Mor's & Co 1st 4%s Nat Tube 1st New Eng Tel 5 96 9 % 107% 4 107% 954 106% % 110% 121 101% 10244 98% 9T8% 997 109% 103% 105 104% 99% 104%) 100 104% 104% 9% 116 921 106 983 108% 104% 1054 9 100% 102% 102 101 North Am Ed 6145 Nornhm’l‘g !.555 tates Pow 55. Nor Sta i 11 102 X 11 105 Hud & Man aj 5s 111 Cen 4s 52, 111 Cen 4% s 66 A 111 Central rf 5s 55. Tl Central 6%s.... T1-C-C StL&NO 5s. Int Rap Tran §s. .. Int Rap Tr 5s stpd. 116 Int Rap Tran 6 Int Rap Tran 7 1| Int & G Nor 1st Int & G Norad 6s. . Tnt Rys C A §s 72.. Int Rep C Am 6s 41 Kan Clty Ft S 4s. .. Kansas City S s Kan City Term 4s. . Man Ry 1st90..... Man Ry 24 45 2013. Market St 7< 40. .. MIIEIRy & L 55 M&Lrf ex 5 M St P&SSM cn 5s. M St P& SSM 6%s. UMK &T 1st 4s IMK&T4sB | M&&Tadsss.. MK&TESC...... Mo Pacific wen 1s. MoPac 65 49 D , | MoPac6s55E. ... Mont Trm ref 5s 41 15 Nassau T Ry 4s 57. NOT&M5%s. NY Cen gen 3%s.. N Y Cent 8 N Y Cent deb 4s. NYCrfim4%s NYCentri5s. N Y Cent deb s NYC &StLdbds.. NYChI&StL 5%sA. 24 NYChI&StL 5%sB. 2 INYC&StL6sA.. 10 New Hav deb 4s57. 24 New Haven c d 6s.. 12 N Hav&H clt 6s 40. 10 NYOntWistds.. * NY O&W gen 4s55. N Y Rys 6s65. “|NYRys8sA65. N Y State Ry 4%s. NY W & Bos 4%4s.. Nor & S gen 55 54.. Northern Pac 3s. Northern Pac 4s. .. Nor Pac 43%s 2047.. Northern Pacr 1 6s. Ore & Calif 1st 6s. . Ore Short L rfs 4s. Ore-Wash 1st 4s... Pennsyl con 4% < Pennsyl gen 4%s Pennsyl gen 5s Pennsyl 5s 64 Pennsyl 6s. Pennsyl gold 7s. Pere Marq 1st 5s. PCC&StLISA PorRL &P 6s4T.. Reading gen 4%s Rio G W 1st 4s. RIArk& L 4% St L IM&S 4s29. St L IM&S R&G 4 StL&SFadjés... StL&SFincés... StL&SFplésC StLS Wcon4s32. 3 StP & KCShL 4%s 1% San A & Arn P 4s 1 Seab A Liref 4s Seab A L ad) 5s Seab A L con 6s Seab All Fla 6s. Sou Pac 4s29. . Sou Pacific ref 4 Southern Ry gen 43 96 5 88% 96% 108 10311 104 774 8 GR% 1};1 Missouri-Kansas-Texas prior 4s. - Washington Stock Exchanc SALES. 58—$1,000 at 100, $3 ¢ K—1 Bank—10 at 453. AFTER CALL. ity & Suburban Ss—81.000 at 03 Georgetown Gas B Liberty ‘Nat'l Bank—10 at 3oer> ¢ Money—Call loans. 6 and 6 per cont Bid and Asked Prices. BONDS. PUBLIC UTILITY. EEREE] 332332388 City & Surburban 5s Georgetown Gas lst Potomac Elec. 1st 58 Potomac Eles Potoma 3 Pot. El. Pow. &. So2335: ashibgton Washington Wash. Rwy. Wash. Bwy. MISCELLANEOUS. Chestnut F' airy D. C. Paper . 6s.. Storage Wardman Park Hotel 5% STGCKS. PUBLIC UTILITY. Amer. Tel. & Telga.. Capital Traction . Washington Gas Norfolk & Wash, Steamt NATIONAL B. ational Capital Columbia ... Commercial ar. Federal-American Liberty ..: Lincoln . National ashing! TRUST C¢ American Security & Trust Continental Trust - Merchants® Bu':x‘l SAVINGS BANK, Commeee: & Savin Fashingto Ealrity Savings Toi Washington American Corcoran Nitional” Union. TITLE INSURANCE. Columbia Title. Estat te Tit) Title Inv. of Md. com. Americ AAmerican Co. pd. age pfd . Merchants' Tran. o Mergenthaler Linotype National Mtge. & Inv. pi wasn Hech, Wige: O o'l ondward & Lothron pid... 104 | PR Uidend P SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) $ig Adirond. P. & Lt. Co. 6s.192: ¥ of Kier, 7o 1033 103 2 101 ‘Woolworth w 1. 6 104 564 thn Pump. 22% | Wotght Aero (1) 99% | yale & Tne (13). Doug-Pec (12%) 46 Du Pont (112).. 174 Du Pont deb (6). 109 Eastman (18)... 1 Philip Morris. .. Phillips Pet (3). Plerce-Arrow. . . oo SRS 1035 | Sou Ry Con bs 94...102 101¢| Sou Ry 68 56. .. 3 1 104 |Southern Ry 8%... 35 TexArk FS 5%s50. B 176 109 172% 174 109 109 180 >—— SILVER QUOTATIONS. Phila.Corf 63 A. Phila & R4 C & 168 Public Service 6s. . NEW YORK, January 5 (#).—Bar silver, 53%; Mexican dollars, 40. 600D YEAR REPORTED. CLEVELAND, Januery 5 (Special) Pickands, Mather & Co.. managers of ihe Inter-Lake Steamship Co., which s the second largest fleet on the s, had ihe best vear of its 26, shipping from 27 iron 71,611 tons of ore. COKE PRICES HIGHER. NEW YORK, January 5 OP).— Prices of spot standard furnace coke are up 40 cents a ton in the Pitts- Eaton Axle (2) Etsenlobr & Bro. El AutoLt(16%) Electric Boat. .. Elec Power & Lt. Elec P & L pf (7} Elec Refriz (22 Elec Sto Bat (16) D orium Corp. | End-Jot.a (5) | EEnaicott pt (7 gngineers Pub S Engnrs PS pL(7) ErieR R. Erie 18t pf. Erie 2d pt.. Erie Stm S(2%). Eureka Vac t4% Exchange (1%). Lurgh district, now ranging from §3.78 o84 e W Fairbanks (3)... 80% 180% 130 26% 26% 26% 121 5% Lae 18% 96% 35% TR Plerce-Ar pf (8). Plerce Oll.. . Pierce Petrolm. . Porto Rico Tob. . Postum (6) ... Prod & Refiners. | Pub Serv NJ (2). Pub Serv pf (6). | PubS NJ pE(7). | Pub SE&G pf(6). Puliman Co (8).. .| Punta Aleg Sug. Pure Ofl (12%)... | Purity Bak A(3) 25% 124 66% 14% 184 96% 85% 8% Radlo Corpof A. Rand M (a3.04). Ray Copper (25¢) 15% | Reading (6).... 41% ' Reading 1st(2). . Purity Bak (B).. Radio C pf (3%). 16% 324 824 99% 99% 108% 108% 108} 102% 102% 1024 186 187% 1889 46% 464 46 T 27% 47 a7 42% 42y% 52% 63 51% b51% 40% 40% 16% 16% 94% 96 40% 40% & 3k 90% 99% 16% 321 9915 108 1024% 186 46 9% Yellow Tr (76¢). . Tr&C pf(1). ;:‘unuwwn (4). 86% 87% Hourly Sales on N. Y. Market. 373,900 1Z2n.. 678,400 l:: 888,500 2 p.m.1,096,000 —_paid this year—no rexular rate. AT (h sommon stock pavable 214 %, lus 5% in stock Vable amed a¥able i, ca o atock Bhan 2% % n stocl Bl 1/50 share i stock re i special stock 2% 1 in stocl. K—purabie 1740°01"a ahase auarterty n Clags A stock 2 in stock. L plue 5 %0 share in stock. ividond Taten s given ln the abave taple ntal e on Bt utariorly Of half vearly deciarations. ! London. pound Montreal, dollar | Paris. franc 18, f | Be om Zuricti, ‘Athens, M frau drachma; rt % 40% | Uniess otherwise noted. extra or svecial divi- a, cro &nds”are ot Tncieded. Sesknoim. 106% 954 101 925 98 100% 927% 108% 102 99 105% 108% 107 95% 106 107% 98 100 80 80 93 93 P Serv Gas 5% Remingtn Arm. 6s. Stuclair Ol 8s. ... Sinclair Ol 6%s. Sinclair Oi1 7 : Sin Cl’\ldaLOH zu. Sin Pipe Line bs. .. Soulh:.a!t Bell 5s.. 15 103% Stand Ofl N J 5s w 1154 102 Sug East Orient7s. 1 99 Tenn Klec Pow 9 105'% Toledo Edn 1st 7s.. : iggu | USRub7%s 106 U SSteel s bs..... Sg 107% Warner Sug 78 41.. - 5 93% Texas & Pacific 1st. 2 Third Ave ref 4s. Third Ave adj 6s. Tol Tr L&P 5% 30 Union Pac 1st 4s... Union Pac 1st rf Union Pacific cv 6: Virginia Ry 1st 5 Wabash 15t 58 © 2Bacanwanale Western Pacifig b Wheel & L Ecn 4s. 10 Whel& LErf 4338, 34 Wilkes & E 1st bs. 3 ‘Wisconsin Gent 18 An extensive electrical development is under way in Singapore. i “3§§~ ot Zorooesse SESRI=S = Great Noi Guit 0il ¢ Hershey Cl Humble Oil 5%s Gas. Co. 8 S e ) S58550: EBEBR s S s TSR, o 225 - 22883228 &