Evening Star Newspaper, January 12, 1927, Page 12

* STAR. WASHINGTOI\ ; D. C, WEDNESDAY, JANUARY 12, 1927 - FINANCIAL. LANSTON MONOTYPE S LEADER | [ v BONDS s JOMESTCISSUES IN TRADING ON LO,CAIiEXCHANGE Received by Private Wire Disest to The Star Office, i LEADERS IN BONDS Washington Gas Light Out on Small Trans- Sustained Strength Shown actions and Only One Bond Sale Is Recorded on Board. by List in Today’s Trading * 3 x THE ~EVENIN( NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office FINANCIAL i 12 TREND IS LOWER | IN STOCK MARKET Much Liguidation by Tired and Dissatisfied Traders (*) This table carries quotations received up to 3:15 p.m. A com- plete table will be published in the 5:30 Edition. 5 UNITED STATES. (Sales are in $1.000.) Sales. High. Low - 106 1016 1014 Lib1st4s 23 1033 10231 Lib2d 43%s. 175 100 26 100 23 Open. High. Low. Close. 87 8T% 87% 8T% 864 664 664 664 126 126 10% 10% 83 3% 4% 4% 140% 140% . % Open. High. 42 a2 6% 97k 98 29% 7 1 82% 48 9% 70% Low. Close. Sales. High. Low. 3.10. 42 42 7 80% S 80%% 10 4% 94 U 9% W 101% % 101% 105% 102% & Dan 1st 45 48, FedLight(®1.40) & Dan 24 4s 48. Fed Min pf (7).. Fid Phoenix (6). FirstNP 1st19.44 First Nat S(1%) Fisk Rubber. ... Fisk 1st pf (7). Fleischmn 123 . Foundation (8). Fox Film A (4).. Abitibi Pow (4) Abrahm&Straus Adams Exp (6). Adv Rumley. Adv Rumley pf.. Ahumada (+60c) . 4% 954 97% 101% 101% 105% LR LY 110, 101 4 103 100 24 Ajax Rubber % W 5eo l;x:;:"&/ 2 Y 4s.. Is Noted Today. BY STUART P. W 2l Dispatch to The Star, ¥ YORK, January 12—Wall (oot attempted to explain today’s de- cune in stocks by saying it was a yatural reaction, due to “‘technical,” t is, to interior, market conditions. | < a matter of fact. outside of a score <0 of individual issues, there had n no advance in the recent past \ficient to set up a basis for re- wetion, The market appeared to be under- going something more important than u setback in a narrow professional speculation. It seemed to be thinking more about the absence of anything new in the outside situation which could appeal sufficiently to public sentiment to lay the foundation for @n upward campaign. With this idea in view there was good deal of real liquidation coming from tired and dissatisfied speculative tolders. There was, of course, no e nce of more serious selling. The motor stocks, having exhausted the &pecial sentimental motive, which has kept them going for the last week, were offered freely. Hudson Motor appeared to have lost, for the time Leing at least, the special support which showed in the market for the stock two and three weeks ago. Profit-taking continued in Nash and Mack Truck was weak again. | Yellow Truck was sensitive to un- official reports .that the company would show a considerable deficit fur the fourth quarter as against a | net profit a year ago. Railroad sha were irregular. Nealizing sales checked the ad\'unr‘ei i) Great Northern preferred and in| Northern Pacific, but Atchison went | along, and Pennsylvania sold at the topmost figure since 1916. Reading was comparatively firm; but along with Union Pacific and other promi-| nent rails, was getting nowhere. Most «f the transactions during the greater sart of the time in Southern Railway, }:ock Island, Chesapeake and Ohio and Chicago and Northwestern oc- curred at almost the same figures as those at the close vesterday. Oil shares were generally sluggish, with the notable exception of Barns- «all, which rose nearly a point further to a new high for the present move. Efforts to rekindle interest in the oils have invariably disclosed the fact that there were too many of these stocks for sale just above the current price level to warrant doing anything with them. - Woalworth, old and new, responded to the dividend declaration, which was regarded as favorable. It raised the rate on the old from $4 to $5, which meant $7.50, taking into account the fact that the old stock is still carrying the 50 per cent stock dividend in the new. o P TR SMALL STOCKS CAUSE UPSWING IN WHEAT |Eomsiench { Am Metals (4).. Burns Bro (10).. 1% 137% 89 111 16% 34 48% 16% Alaska Junea.... 1% 1 Allied Chem (6). 137% 138 Allls Chalm (6). 90 20 Allis Chal pf (7). 111 111 Amal Leather. 3 297 344 484% 16% 97% 47% 4% 101% 101% 1 1% 187 89 11 16% 33% 48% 16% 974 9TH 46% 47% 00% 101 37% 87% 10% 11% 120 130 21% 21% 894 89% 51% 52 31% 31% 120 120 86 8 37% 374 | Am Br Bo pf (7) Am Can (2). Am Car&Fdy Am Chicle (3). 37% 374 Am Drug.... 1% 1% Am Express (6). 130 130 Am & For Pow.. 21% 21% Am&Fo Po pf (71 89% 89% Am Hide & Lpf. b51% b52% Am Ho P(2.40).. 32 32% Am Tee (+10) 120 120 &m Ice pf (6). 864 854 374 37% Freeport Tex (2) Cab:tel Sn (3%) Gardner Motor. . Gen Am Tnk (3). Gen ATC pf (7). Gen Asphalt. Gen Elec (h3). .. GenElec sp(60c) Gen Motor(111). 152% 154 Gen Mot pf (7).. 121 Gen Outdr A (4). Gen Outdr Ad(2) Gen Ry Sig 151 Gimbel Bros. ... Glidden (2)... Goodrich Ru (4) Goodrich pf (7). Goodyear pf (7). Gothm S H(2%) Gotham rts. 894 304 ™ 47% % 108 108 84% 8514 844 Ban 11% 11% : 9, 9% R4 9% Am Linseed. 205 30% 29% 204 Am Linsd pf (7). 69% 69% 69 69% Am Locomot (8) 107% 107% 107% 107% AmLocopf (7)..120 120 120 120 Am Mach & Fd; 76% 75 757 5% 4215 42% 424 427 AmPo & Lt (11) 61% 61% 61% 6l Am Radfator(5). 114 114% 114 114% Am Ry Exp (6).. 88% 885 88% 88% Am Safty R ($#3) 524 b2% 52 52 Am Smelting (8) 140% 140% 139% 1404 Am S & Rpf (7). 121% 121% 121'% 121% Am Stl Fdys (3). 44% d44% 44% 44% Am St1Fy pf(7) 118% 113% 113% 113% Am Sugar (5). 81% 82 81% 82 Am Sumatra. 44% 44% 44 44 Am Tel & Tel(9) 153% 163% 153% 163% Am Tobacco (8). 122% 121% 121% 121% Am Tobacco B (8 120% 120% 120 120% Am Tobac pf (6) 111% 111% 111% 111% Am Typ Fdrs(8) 126% 125% 126% 126% Am W W (c1.60) 66 66 65 65% Am W W1st (7). 107 107 107 107 AmeWoolen..... 31% 81% 29% 20% Am Wool pf (7). 86 84 84 Am Zine. . 9 9 9 Am Zine pf. 45 44 44k Anaconda (3) 49' 4BL 49% Archer-Dan (3). 411 41% 41% ArmourDel pf(7) 947 947 94% Armour of T11(A} 15% 16% 16% Gotham new 21 , Granby Consol. . Gt Nr Ore(t1%). Grt North pf (5). Grt Westn Su (8) Green Canan. ... Gulf States (5) Hanna 1st pf. Havana El rets. Hayes Wh(13%) Hoe & Co A Homestake (18). Househld P 133 Houston Oil.... .. Howe Sound(4). Hud Man (2%). . Hud Man pf (5). Hudson Mo(3%) Hup Mot (1.40).. Ilinots Cen (7).. 111 Cent pf (6). Indep O11 (1).... IndlanRefg ctfs. Inland 8t (2%).. Inspiration (2).. Interbor Rap Tr. Internat Agri... Int Bus Ma 3% Int Cement (4). . Int Com Eng (2) Int Harv (16)... Inter Har pf (7). 22% 121% 12¢ 121% - 120% Armour of 111(B) 8% 84 8% Artloom (3)..... 52 52 52 Art Metal (11%) 22 22 22 22 Asso Dry G(2%) 41% 42% 4l1% 42 Atchison (7).... 166% 167% 166 166% Atchlson pf (5). 99% 100 99% 100 At] Birm & At... % % % AtlCoastLrts.. 1T 17% 17% 17% Atlant CL (£10) 190 190% 189% 190 AtIGult & WT,.. 40% 40% 40% 404 Atlantic Refiniz.. 112 114% 111% 112% Atlas Powdr(15) 60- 61 60 61 Austin.Nichols.. 9% 9% 9% 9% Baldwia L (7)... 1562% 162% 149% 151 Balto & O (16%) 109% 109% 109 109% Balto&Ohpf(4) 74 74 74 T4 Bang & Ar (3)... 45% 46 45% 46 Barnsdall A (2). 31 32 31 32 Barnsdall B (2). 28% 20% 28% 29% Bayuk Cigar.... b2l 624 524 b62% Beech-Nut (13). 58% 58% 584 584 Belding Bros{3). 27 e Bethlehem Steel. 47% 47% 46% “47% Beth Stlpf (7).. 106% 106% 106% 106% Bon Ami (4). 653% 54% b53% b64% 7 6% 6% Booth Fisheries 7 5 Botany A (4). 27% 27T% 2% 2Tk eiars ate 91 80% 204 29% Briggs Mfg (3 2! BkIn-Edf 8). 163% 163% 158 163 R e (1), 68% 68% 68% BlknMn Tr (4). 68% k Man T pf(6). 87T% 87% 87% 87% 83 6% 37 14% 4% Brunswick Ter. . 124 124 124 IntMtch pf(3.20) Int Mer Mar pf.. Int Nickel (2) Int Paper (2) Int Paper pf (7). Int Tel & Tel (6) Jewel Tea. . . Jones Bros Tea Jordan Motor. Kayser J (4). Kayser pf (8)... Kelsey Wh (6).. Kennecott C (5). KeystoneT & R. Kinney G R (4). Kraft (I1%)... Kresge S8(1.20). Laclede Gas rts. Laclede G pf (5). Lambert Co (5). 67% Lee Tire & Rub.. 7% Lehigh Val((15) 102% Liggett & M(14). 101% Lig& M B (t4).. 100 Lima Loco (4).. 64 Liq Carb (3.60).. 524 Loew's Inc (13). 48% Jong Bell A (4). 40% Lorrillard (§8) 31% Louisiana Of1 1. 994, 128% 56 14% 20% 504 111% 81% 61% % 44 57% 53% 5 95 Ludlum Steel(2) 26% 126% 63% 37% o 41% 58% 99% % | 53% | ance Co. 50% | elected: 47% 140% 127% 55% 14% 21 50% 111% 30% 61% kel 42% 57 53% BY EDWARD (. STONE. Lanston Monotype jumped to the front in trading on the Washington Stock Exchange today, when just 100 shares changed hands during the ses- sion. The stock opened at 94, went to %, on a 30-share sale, advanced to %, then to 33 and closed at 94% on a 20-share turnover. Washington Gas Light, which led the market yesterday, came out today at 72 on transactions totaling but 25 shares. Capital Traction sold at 103% and Potomac Electric Power preferred stood at 108, Five shares of District National Bank stock sold at 232. The first sale in Peoples Drug was up to 1103, but the stock closed at 110. Only one bond sale was recorded, a $3,000 turnover in* Georgetown Gas b at 98%5. Reserve Bank's Eearnings Up. Net earnings of the Federal Re- serve Bank of Richmond last vear| increased approximately ~ §$300,000 over the earnings of 1 Approxi- | mately $279,000 was transferred to | the surplus account of the bank after the payment of éividends and | the Government franchise tax, Gov. Seay said. Profit and loss flgures were as| follows: 1 $2,182,000 Gross earnings, $ : 1,451,000 Expenses . 1,384,000 5 % 67% 102% 101% 100 64 53 48% 40% 32% 17% 24 138% 26% Net earnings.... 1.045,000 731,000 Surplus 112,198,000 11,919,000 Title Company’s Directors. At the annual meeting of the stock- | holders of the Lawyers Title Insur- the following directors were Arthur G. Bishop, Charles W. Stet- son, Joseph N. Saunders, Harry M.! Packard, Ernest L. Schmidt, Sidney | T. Thomas, Lee Barroll, Theodore N Gill, Eugene A. Smith, George M. Em- merich, Clarence F. Donohoe, Charles | H. Bauman, Charles Kindle, James | McD. Shea and Charles B. Gillet. i According to an Associated Press Real Silk Ho: 43% . Remington Type 114 ~ 114% Replogle Steel... 13 18% RepIr & Stl (4). 60% Repl&Spt (7). 98 Reynolds Spngs. 4% Rey Tobac B(5). 120% Royal D (a3.078) 62% Safety Cable (4) 547¢ StL & SanFr (7). StL&San F pf(6) St L Swn pf (5). Schulte (§8) dispatch from New York, directors of the F. W. Woolworth Co. today au thorized a quarterly cash payment of, $1.25 a share on the entire amount of common stock outstanding, Includ- ing that recently issued as a 50 per cent stock dividend. The previous rate was $4 annually, so that the new basis is equal to $7.50 a share on the old stock. Extra di paid in 1 ized today is both regular idends of $2 a share were The new rate author- 25 per cent larger than and extra payments in e company’s report of earnings for 1926 would be the best in its history, said H. T. Parson, president. Association Elects Officers. third annual meet- Permanent Build- sociation, Fred A. Smith, sec- of the Floyd . Davis Real Es- 0., was elected secretary of the association to fill the vacancy caused by the death of Clarence I. Gessford; Melvin C. Hazen was re-elected presi- dent; William P. Richards, vice presi- dent, and Floyd E. Davis, treasurer L. Perry West was elected a direc- tor to fill the vacancy caused by the death of his brother, Henry P. West, while Fred A. Smith takes the place of the late Nathan Hazen. The direc- tors re-elected were Melvin C. Hazen, Floyd E. Davis, William P. Richards and Thomas Bones. C. Clinton James is again attorney, while the tr are nest M. Colvin and W Davis. Dr. Harvey than & month ter W. Wiley, after more serious illness, was able to resume his seat last evening in the front row in Y Booker's class in nvestments at the local Institute qf Banking. Dr. Wiley ap- peared to have fully recovered. He was given a rousipg reception by the other students, who applauded the veteran food expert to the echo. The cordial greeting caused him to | make a few remarks, during which he stated that he intends to take the fiflal examinations, next ¥riday eve- ning. HA said he had been greatly US3%e.... US4is62 Argentine 6s Ju 59, Argentine 650Oct59 . Argentine s A. ... Argentine 6s B Austria 7s.. .. Bank of Chile §%4s. Bank of Japan 6s. . Belgium 8s Belgium 6145, Belgium 7s. Belgtum 7s ct. Belgium 7%4s. Belgium 8s. Bolivia 8s. Rordeaux 8s. Canada bs 1931 Canada 55 1952. ... Canada 51481929, . Chile 75 1943...... Chile 85 1941. .. Chile 8s 1946. . . Con Pow Japan Ts. Copenhagen 5%s. . . Cubab5%s....... Czecho 7% rots. Czecho 8s 1951 Czecho 8s 1952 Denmark 6s....... DET5%s Mch 52, . DEIn5%s Nov 3. Dutch East T 65 47. Dutch East I s 82 Finland s f 65 45 Finland 7s.... Framerican 7%s French 7s. French 7%s. French 8s. German 1 P 61%s. German 7s Ger Am Bank 7s. Ger Gen Elec 7s. .. Halti 8s. Holland-Am Hungary 7%s 6 [ 4 . 158 a disappointed to miss the class work because of his illness, adding that while he had studied at home, he found no comparison between that and attending the classes and hearing the lectures and discussions. He closed his brief remarks by stressing the importance of personal contact with the instructors at the institute and regular attendance at classes. . Examinations Coming Rapidl. The final examinations in the class ! Norw: Ttaly7s...... Japanese 4s. . Japanese 6% s Jergens U M 6: Lyon Netherlands 6s 72 Nord 6% Norway 5%s Norway 6s 1943 Norway 6s 1944 v 65 1962 in commerclal law at the Institute of { Orfent Dev deb 6s Banking took place last evening, being conducted by Raymond B. Dickey, the Schulte pf (8) 1 Seaboard Alr L. Sears-R (n2%) Seneca Copper-. . Shell Union (12) Shell Un pf (8) Shubert The (5). Simmons($2.26). Simms Pet(1).. Sinclair Ofl... .. Sinclalr pf (8).. Skelly O1l (2)... South Port 8 (6). 38 36 204 20% 2% ! instructor. Eliot H. Thomson's class in banking fundamentals will have final examinations tomorrow night, while Donohue’s class in stand- 29% |ard economics will meet tonight to 108% | u%‘ prove to the instructor how much the: have learned during the first semeste: Y. E. Booker's class in investments meets for the same purpose Friday night. 974 | Representative Elected Bank Head. i ) 170% | 83 | At the annual meeting of the board of directors of the Second National Paris.Ly-Med 6s Paris-Ly-Med 7s. Paris Orleans 7s. Peru 7%s. Poland 6s 40 Poland 8s. Prague 7% Queensland 7s Rhinelbe Un 7s. Rlo de Jan 8s 1946 Rio de Jan 8s 47 Sao Paulo 8s 1936 Bao Paulo 1950. Saxon (PW) 7s. Selne 75 42. . Lib3d 43is. 244 101 14 101 7 Lib4th 4%s 189 103 16 103 14 56 103 13 163 11 11 110 14 110 10 FOREIGN. Sales. High. Low. 3:10. 98% 98!y 98y 105% 104'% ¢ 101% 101% 103% 121% 102% 1027% 104% 106% 101% 984 99% 10113 103 14 10113 11014 B&O SwDIiv bs cfs 35 B & O Toledo 4s. ... Bklyn Manhat s. i Canad North 6% 5. Canad Pac deb 4s. . Car Clinch & O 5. Car Clinch&O 6s 52 Cent of Ga 5%s. ... Cent Pac 1st 6s 90, Ches &0 cv 433, Ches&Ogndiys... 1§ Ch1 & Alton 3s.. .. . Chi & Alton 3%4s. . . ChiB&Q 1strf 5s. Chi&ETllgnss51 30 Chi Gt West 45 ’59. 104 CM&StP 4s . 5 C M&St P 43 25 ofs. CM&SLP deb 4s CM&StPgn8, CM&SPev4 1 s32cfs CM&StPgn4ls, CM&StPrf s, CM&SP rf 4% of14 CM&StPcvss... CM&SP cv 5s ofs 14 2 CM&StP 6 Chi & NW gen s Chi & NW 61s. Chi Rys 5s. ChiRI&P ChiTH& S E 5 6 ChiUnStad4¥%s.... & Chi Unfon Sta 5s 44 99 Chi & W Ind cn 4s.. 30 C&WI5%s62. CCC&StLrf6sA. | Clev Term 5s. 12 C&S1st4s2y. 1 Colo & Soud¥%s.... 6 Cuba R R 6s. Del & Hud 1st rf 4= Del & Hud cv bs 35. Den& Rio Gen ds.. D Rlo G West 5s. Erle 1st cons 4s. Frie gen 4s Erie conv 4s Erfe conv 4s D Erie conv ext 7 Erie & Jersey 6s. * Erfe Genessee R 6= Erie (Pa) cit tr 4s. FlaEC6s74...... Gr Trunk stdb 6s. . Great North 5s. ... Great North 5% Gr Nor gen 7s. Hud & Man ref 5. Hud & Man 4 5s. 111 Central ref 4s. .. T Cen 4s 52. . T11 Cen 4% s 66 111 Central 5% Int Rap Tran §s Int Rap Tr 6s stpd Int Rap Tran 6s Int Rap Tran 7s. Int & G Nor 1st 6s Int & G Nor ad 6s. . Int Rys C A 5s 72.. Int Rep C Am 6s 41 Towa Cent 1st 5s. .. Kansas City 8 §s. Kan City Term 4s Lake Shore 4s 28. Lake Shore 4s 31. Louis & N uni 4s. L &N 4%s2003 Man Ry 1st v Market St 7s 40. M{1El Ry & L 5s. ..104 MStP&SSMcnds 6 M StP&SSM5%s. 10 MStP&SSM6%s. 3 TK & T 1st 4s. 24 . 36 160 29 J.'; 8 86 4 on Exchange. BY GEORGE T. HU Special Dispatch to The Star W YOR another day of sustained streng the bond market, with no let-up sight in the demand for investme: securities of every grade. Domesii obligations were more prominent i. day than the forelgn, contrary to the rule in the immediately preceding se sions, but the foreign pushed ahea also, new favorites being taken u while the gains made elsewhere were being consolidated. Reports that the rediscount rate of the New York Federal Reserve Bank would be cut from 4 to 3% per cer probably helved alons the advance but the market seemed to need litile stimulus in addition 1o the of money demanding emplovmer One characteristic of today’s trading which marked it out from last week was the favor shown to honds selli at the callable prices, indlcating pretty clearly that the interest was investment and not speculative The day's gains covered a variety of issues. Kansas Cit Southern 5s sold above par and South ern Railway 5s above 107. The forme made a new high record for this and last year and the latter sold withir a small fraction of its previous i There was heavy trading in G Northern 7s around 114 or a ba just a little above & per cent. Mi waukee Electric Railway and Light 5s of 1961 had a run-up also to new top for recent years. Interna tional Paper S were strong amons industrials. St. Louis-San Francisco junio: pressir- lines were very prominent in’ the class. The adjustment 6s sold abo:. par for the first time in their his tory. That this was investment buy ing and not speculative was' proved by the fact that the call price s par The same road’s income 6s went up a half point and the prior lien A-i= a_junio) high. New Iaven obligations were up in sales of comparatively few bonds. The collateral 6s sold above 104. bonds were more active under the leadership of the Cuba Cane issues with the 8s selling a par and the 7s at 9713, where they were up three-quarters of a point Atlantic Gulf and West Indies col lateral 5s had a special move. In the foreign group German boris were the leaders. Bavaraia 613s and Berlin 6128 both gained sharply. The first named sold at par, which new high for all time. Paris, Lyons and Mediterranean 6s, above 91, were the feature in het foreign list. 2 6328 maintained their position in ti South American section. Sugar LOCAL BOARDS CHOSEN. National Realtors to Open Conve: tion in Miami Today. issue, sold at the previous 4 Y ( Sou Calif Ed (2). Sou Dalrles A(4) Sou Dalries B... South Pac () Southern Ry ( Spicer Mfg...... Serbs Crot Slo 8s. Sofssons 6s. Sweden 5%s Sweden 6s. o {BwissBlgs 6. Swiss Confed 8s 93% 1027 104 4 1034 72 45% | Bank of Atlantic City, N. J., Repre- 19% | sentative Bacharach was elected presi- 109% {dent of the bank, succeeding Lewis i 124% | ovans, deceased. The Second National 23 |Bank was founded 40 years ago and Corn and Oats Also Develop Firm. | Burroughs (+4). 120 120 119 Bush Terminal.. 29% 29% 29% 20% MIAMI, Fla., January 12 (# ness in Today’'s Trade—Pro- Twelve local boards were elected t membership in the National Associa | tion Real Estate Boards at tl board of directors’ meeting held here & T adj 5s MK&TprinSsA. 33 MK&TEsC... McCrory (11.60) . MeCroryB(11.60) 73 MciIntyre P (1).. 26% Mack Trucks (6) 95 Mack T 1st (7).. 110 M MK&T4sB, M& 8 101% 103% 7714 Butte&Super(2). 11 1 11 1 B:-'tcau 44 44% 44 M Butterick (m2).. 268% 53% £3% 263% visions Are Easy. i By the Associated Prese. CHICAGO, January 12.—With only @scant stocks in Chicago and the emount steadily decreasing, wheat showed an early upward trend today. Predictions were current that less than 500,000 bushels of contract wheat ‘would be on hand here by the end of May. Opening unchanged to 14 higher, wheat soon made material ®gains all around. Corn and oats also developed firmmess, corn starting at 3, off to % up and subsequently scoring a general advance. Provisions were easy. 1t was pointed out that whether or not the world wheat situation is bear- ish Chicago cannot draw wheat from any foreign country and that to at- tract any large wheat shipments at all the market here must show a greater premium over other domestic markets, Bulls contended that even on o decided advance, the amount of do- mestic wlifeat likely to be forwarded to Chicago is small, and that South- western wheat in particular, because of its superior quality, has been well cleaned up. Wheat traders took special notice today of aseertions that assuming Ar- gentina and Australia both send their grain forward during the next eight weeks at the average rate of the last f years the Southern Hemisphere 11 only supply about half of the Eu. ropean demand. The possibility, how. ever, was acknowledged that the movement from Argentina may ex-| pand with a rush, farmers in the | country being reported as under | financial wecessity of marketing their | i | | i { | September POTATO PRICES STEADY. CHICAGO, January P) —Pota- toes, receipts, 58 curs; on tracks, 202 cars: total United States shipments, 687 cars; demand and trading slow, | market steady; Wisconsin sacked | round whites, 40; mostly, 2.30a 3 .40; Idaho sacked rus-! 00; mostly, 2.80a2.90. i DISBURSEMENTS $37,469,000. NEW YORK Janua 12 .| Cash dividends of $2,769,000, which stockholders of Victor Talking Ma- chine Co.. will receive on January 17, will bring total cash disbursements to | $37.496,000 since the organized in 1901, . DIVIDENDS. Pe- Pay Compans Rate. riod, uble East. & P pt. A.$1 Feb. Sdiscn Co. of Box $3.00 @ Feb Gas & F 662% M Feb BT M Fen. company was Stock of Jan Jan By-Products (2). 67% 67% 67% 67% Mack Trk 2d (7). 103 Mackay (7). . 23 Calif Packg(4).. 68% 69 68% 68% Magma Cop (3).. 35 8td Gas & El g3. 8td G & El pf(4) 65 68% Calif Petrol(2) Callahan Zinc 31% 814 3% Manat! Sugar pf. Man El m g (D5) 58% 38% | board of di 71 Istitutions | Cont Can (16. | Cuba lumet 1 % Can Dry (c2%). 88% 88% 384 38% Can Pacific (10). 167% 167% 167 167 Case Threshing. 141 143% 141 143 Case Thrpf (7). 117 117 116 116 Central Alloy(2) 28% 28% 28k 28% Cent Leather.... 10% 10% 10% 10% Cent Leather pf. 57% 57% G56% b56% Certain-Teed(4). 42% 43% 42 42% Certain-T 2d (7). 101 101 101 101 Cerro dePas(16). €2 62% 62 62% Chand-Cle . 9% 10% 9% .10% Chandler pt(2%) 73 24% 28 223 Ches & Ohlo (112 IG;M lsé'/l lflg% lflgu 9 9 24% 24% 10% F11 20% 20% 10% 11 10% 11 20 20% 20 g(lllfi & Nwn (4).. 81% 81% 81 % g:l:Nw pf( Ja%7 12y agr 127 Chi Pneu T (5).. 128% 128% 127 128% ChiRI& Pac 78% T8% 73% T73% CRI&P (6).. 96% 96% 96% 96% CRI&P DL (7). 104% 104% 104k 104% Childs (32.40)... 52% 52% B52% G524 ChileCop (2%).. 85 85% 85 86% Christie B (1.20) 387 37 87 387 Chrysler Corp(3) 41% 42 41% 42 Chrysler pfA(8). 104% 105 104% 104% Cluett Peab (5).. 63 63 63 63 Coca-Cola (7)... 169% 171 169% 171 Collins & Alk(4). 66% 66% 66% 66% Col Fuel & Iron.. 45 45'% 44% 45% Col Gas new (5). 90% 91% 90% 90% ColGas&El (5). 90 91 89% 91 ColGasrts...... 3% 38 3% 8% Col GRE pf A(8) 100% 101 100% 100% Col Carbon (4).. €9 69% 69 69% Com Credit (1). . :Z% ‘l;;!fi n Cr1st(6%). g:;’ncr pf (1%). 21% 21% 21% 21% Com InTrpf6l 91k 91% 91% 914 Com Solv B (8).. 244 2562% 244 249% Congoleum N 19% 19% 19 19% Cigars (7).. 88% 83% 82 83% g: CI:an« pf(7) 102 102 Congress Cgr(8) 63% 63% Consol Distribut 1% 1% Cousol Gas (5).. 108% 108% 108 ConRRCubapt 6 70% 70% 70 Consol Textil 4 Cont Bakg A ( Cont Baking B Cont Bak pf (8). 9% 9% 2 2 10% 11 20% 21 Chi Gr West pf.. Chi MII&StP. ... Chi M11&StP pf.. CM&StP cfs. ... C M&StP pt cfs. 96% 97 1% T1% 140 140% 140 18% 18% 18 47% 46% 59% 80 9% 10% 48% 33% 27% 52t 1% 107 106% 107 82% 82% 82% 31 30% 31 174 174 174 142 142 142 186% 185% 135% 135% 39% 39% 88% 38% 26% ¢ 26% 26% 26% 82% 83 8215 B2% 10 10% 9% 10% 50! 1747% . 129% 26% 12s 64 0% T1% Cont Insur (' 140% Cont Mot (80c).. Corn Prod(12%) Coty Inc (4).... Crucible Steel (6} Guantanamo. . CubaCaneSugar. e Su pf. Cuba Co (4). . Cuban Am S . Cudahy Pkg (4). 62 | Cushmann pt (8) 107 Cuyamel Fruit.. 2% Davison Chem Del & Hud (9). DelL & W (17 | Detroit Ed (8). . Devoe & R(2.40). Dodge BrosCl A. Dodge pt (7). ... Dome Mines (2) . Doug-Pec (1213) Du Pont (112).. Eastman (18) Eaton Axle (2).. Eisenlobr & Bro. El Autolt(16%) 172% 176% 128% 130 25% 25% 12% 64 7 130 26Y% 12% 64 50% 60% B60% Man Shirt (1%). Maracaibo Ol. ... Marland Ol (4) . Marln Rock 2% Mathieson (4)... May Dept (n) Maytag Co (2! MetroG pf(1.89). Mexican Seabd. . Mtami Cop (1). Mid-Continent. Mtddle States. .. Mid States Ofl ct Miller Rub (2)... 34% MinStP&SSM. 29 MStP&SSMpf 51k Mo Kan & Tex... 32% Missouri Pacific. 89% MissouriPac pf.. 92 Montgmry W(4). 66% Moon Motor 1% Mothr Lode(75¢c) 4% Motor Whi (2).. 23% Mullins Body... 10 Munsingwr (3).. 39% 68% Nash Motor (4).. Nat Biscuit (5).. 100% NatCash R(A)3. 41% Nat Dairy (3) 8% Nat Dpt Stores 25% Nat D St 1st(7).. 93% Nat Distillers... 18% Nat Distillers pf. 46% Nat Lead (8). ... 166 Nat Lead pf (7). 118 NatPw&Lt(80c). 21% Nat F'y Mex 1st. . Nat Ry Mex 2d Nat Supply (16). Nevada C (1%). 26% % 16 36% 2% 1% NY NH & Hart.. 42% NYOnt&W (1) 24% NY Ryspartefs. 14 NY Steam pf(7). 106% Norf & W (110). 167% NthAm b10% stk 46 North Am pf(3). BO0% NorAm Ed pf(7). 98 North Pac (6)... 82% 011 Well Sup (2). 83 Gmnibu 13% Orpheum Cir (2 ;'/. 8 3 Otis Elevator (6) 13 Otis Steel. . . Owens Bot (¢ Pac Oil Stubs. .. Packard (12.90). 16y 718 1% 35% 1% Pan-AmWnB(2). Panhandle:..... Park Utah (60c). Pathe Ex (c3)... 39 Pa Dixie Ct(80c) 39 Pa DixCt pf (7). 99% Peerless Mot.... 30% Penna R R (3%) 67% Penn-Seab Steel. i Pere Marq (18) .. 116% Pere Marg pf(5). 90 Phila Co (4).... 864 Phila& RC&I.. 44% Phila&RC&I cfs. ;glv‘ {lip Morris Ya g:llll\’pl Pet (3). ?59‘- | Plerce-Arrow. .. 22 | Plerce-Ar pf (8) . 99 | Pierce Ol. . . | Plerce Petrolm. . Pitts Coal. Pitts & W 37 15 188 428 24% 14 106% 169 31% 130 8 116% 90 86'% 44% 43% 38% 57 22% 99 187% 42% 243 14 106 167% 46% 50% 974 81% 38 18% 81% 129% 8 8 1% % 116% 90 86% 43% 43% 38 Std Oll NY (1.60) 8td Plate Glass. . Sterling Prod(5) Stewart War (6). Stromberg (6) Studebaker (5). Submarine Boat. ;:“ Superior Ofl. ... 24 | Superior St1(2). 1% | Tenn Copper (1) 34% | Texas Co (3). 28% | Texas Corpn ( 51 | Tex Guif Sul (4) 33 | Tex & Pacific.... 38% | Tex & PacC&O. 92 | The Fair (2.40).. 66% ' Third Avenue. .. 11% | Thompson (3.60) . 4% | Tide Water(1%:) 22% | Timken (15).. .. 10 | Tobac Prod (7) 39% | Tob Prod A (7).. 671 | Transcont O11 99% | Underwood (4) 41% | Union Carb (6) 73 | Union Oil Cal (3 26% | Un Pacific (10).. 938% | Un Pacifio pf(4). 19% | Union Tank (n). 46% | Utd Cigar 8 (c2). 166 | Utd Drug (8)... 118 | UtdDrg 1st(3%) 21% | United Fruit (4). 4% | USCIP&F(10). 1% | U 8 Distributing. 83 | US Aleohol (5). 14% | U S Ind Al Df(7). 21% | U S Realty (4).. 141% | U S Rubber..... 1874 { U S Rub 1st (3).. 42% | US Smelt (3%). 24% | US Sm pf (3%). 14 | U S B8teel (7) 1 106 | U S Steel . 157 | U S'Steel pf (7). 46% | Universal Pip Univ Pipe pf (7). Utl PELL A (2). Vick Chemical. Va-Car Ch Vitadou (3). Vivaudou rts ‘West Maryland ‘West Md 2d pf. ‘West Pacific. ‘West Pac pf (6). Westhse AIrB 18 Westinghse (4). ‘Wheel & L Erie Wheel & L E pf ‘White Eagle (2). White Mot (4) . - White SM pf(4). ‘Willys-Overland Wwillys Od pf (7) ‘wilson & Co Wilson & Co(A) . ‘Wilson&Co pf(7) ‘Woolworth (18). Woolworth wi.. ‘Wright Aero (1) Yale & Tne (i5) . Yellow Tr (76c). . % 116% 20 864% 44 43% 38% 56% 21 96% 66% 50% 54% e | Better W { whom' they do not know. is recognized as one of the most sub- stantial and conservative financial in- in Atlantic City. Bacharach has been a member of ctors for 26 has been vice president for 14 yea Directors Elected for 1927. At the annual meeting of the stock- holders of’ the Washington Title In- urance Co. the following directors were electe Arthur G. Bishop, Ernest L. Smith, William M. Hallam, George H. 0’Con- nor, Willlam T. Galliher, Sidney T. Thomas, Charles B. Gillet, William S. Merrick, George I. Hane, Clarence ¥ Norment, H. Glenn Phelps, B. Francis Saul, Fred McKee, Lee Barroll and John P. Winand. Rothschild Warns Iuvestors. Louis Rothschild, director of the Business Bureau, warned shington investors in a talk over the radio last night of the many ways the' past {in which efforts are being made by crooked salesmen to obtain money. He says the first thing to do is to find out all about the Salesman before in- vestors buy any stock from people His talk was full of suggestions. He called attention to the large amount of money lost in Washington in the past, which shows the need of great cau- tion in the future. Underwriters Dine Tomorrow. The District of Columbia Life Un- 59% | derwriters’ Association will begin the 117% 223% 60% | 27% b1 9% 85% 84% % 42% 8% 22% 18% | 31 40% 57% 9% 16% 26% 2T% 8% 186 69% 30% | new-year activities with a dinner to- { morrow at the Raleigh at 6 p.m. i The speaker for the occasion will i be Representative Charles R. ton of New Jersey, author of “The Great- est Family in the World. s ol oy ‘WOOL MOVES WELL. BOSTON, January 12 (Special).—Fine territory wools are in best demand here, but dealers report a fair vol- {ume of medium wool is also moving. Fine territory is still held at 1.08a1.10 {with choicer holdings at 1.12. Some French combings are selling above 1.00 jand half blood combing wools have sold at 97 to 1.00. Three-eighths blood territory sales are reported at 90 clean basis. Ohio fleece wool is meeting with scattered inquiry at unchanged prices. In pulled wools “B" supers are firmer at 80a82. EQUIPMENT INQUIRIES. NEW YORK, January 12 (#).—The New York, Chicago and St. Louls (Nickel Plate) is in the market for 20,00 tons of rails, and the Wabash wants 1,000 automobile box cars. The Baltimore and Ohio is understood to have reinstated its inquiry for 3,000 miscellaneous freight cars, withdrawn | several weeks ago. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Seilis cold valne: = fodosecks Usenly sd85% 2a7a Ko 1932 { Utd Kingm 53837 Toho Elec Pow 7s. . 15 | Yokohama 6sw i,. 274 314 981 104% 94'% Mo Pacific gen 4s. . | Mo Pac 55 1965. ... Mo Pac8s49D. Mo Pac 8s55 E 99% 1064 106% MISCELLANEOUS. Nassan I Ry 4s 57. New Or Term 4s. €1% 8784 Am AgriChem 7%s & AmSmit& R 1st5s 13 AmSmIt & Rs... Am Sufar ref 6s AmT& Tcltris.. AmT& Tcl trbs. AmT& Tsfhs. Am T & T deb 5%s. 10 Anaconda 1st 6s. .. 108 Anaconda cv db 7s. 102 Andes Cop 7s rots.. 1 Armour&Co 4%srt 33 Armour Del 5%s... 6 Assoclated O11 6s. . Barnsdall 6s otts. . 604 5 8 Beth Steel pm 5s. . Beth Steel rf 6s. . Beth Steel 5%s 53. Beth Steel 6s. .3 Brier H St 1st 5%s Bklyn Ed 6s B Cen Leath 6s 45 cfs Chile Copper 6s 32. Commonwith P 6s. Con Coal Md 1st 5s. Con Gas N Y 5%s. Consum 4 1 1 36 Dery (DG) s Det Edison ref 6 Dodge w 168 | Est Cuba Sug Tks. Empire G & F 7%s. Fisk Rubber 8. ... Goodrich 8% Goodyear 85 1931. Goodyear 8s 1941. . Hershey 5%s.... Hoe & Co 6% . Humble O & R 6%3 Tllinols Bell 1st 65 Tllinols Steel 4% Indiana Steel 55 Int Mer Marine 83. Int Paper 58 47. .- 3 1n Mid-Con & Midvale Steel 63 Montana Pow 58 N Y Edison 68 44. N ¥ Edison 6%8 NYGELHE&P 5. NY Tel 4%s orth :or States Pow 5%. o Gas & E1Bs. ;:e T&T 5862, Pan-Amer Pete 6s. Phila Co5%s38... PhilaCortf6sA. .. Phila & RA C & 155 Public Service 6s. . Public Serv Elec 65 P Serv Gas 6%s 64. Punta Alegre 7s 5 6 19 8 3 6 s 3 3 7 aL 11 13 29 2 8 57 31 3« 104 101% 104 01% 108 1047 9815 103% s 101% 1064 104% 109% 108% 9254 95% 102% 103% 104 2914 100% Ry 4 103 104 104% 101% 110% 98 1024 100% 102% 105 100% 103% 100% 104% 107% 105% 111% 101% 94% 98% 100% 93% 107% 103% 102% 106% 106 10 10 108t 92% 984 102% 1021 s 101% 106% NOT& Min 5s. NOTex&M5sB NOT&MGY%s. N Y Cent deb 4s. NYCentribs N Y Cent deb 6s. NYCentLScl3 NYChI&SIL 5%sA . NYChI&StL 51 sB NYC&StL6sA.. New Hav deb 45 56. NewHaven c d 6 NYOnt Wist4s.. NYRys6s65..... N Y-State Ry 4 . NYWX&Bos4%s.. 15 Norfolk & Wen 4s. Northern Pac 3s Northern Pac 4s. .. Northern Pac r | 6s. Ore & Calif 15t 5s. . Ore Short L fs 43. Pennsyl gen 4%s. . Pennsyl gen 5s . nsyl 58 64. Pennsyl 6%s Pennsyl g>1a 7s. .. Peoria & E inc 4s. . Pere Marq 1st bs. .. Por RL&P 6547 Reading g2n 41s.. RIArk& L 4%s St L IM&S 4s29. 8t L IM&S R&G StL&S I pl4sA.M20 StL&SFprinbs. 22 StL&SF5%sD.. 3 StL&SFplésC.. StLSWistds.... St P & KCShL 4%s San A& ArnPds.. Seab A Lref4s.... Seab A L adj bs. Sou Pacific clt 4s. Sou Pacific.ref 4s. . Southern Ry gen 4s Sou Ry Con 53 94. Sou Ry 6s66. . Union Pacific cv 6s. Virginia Ry 1st 8s. Wabash 1st 5s ‘Wabash 638 ‘West Maryland Western Pacific 5 West Shore s 2361 Whel ELErf 4%%s 4 i Adirond, P. & L. C. 8s 192! Alum; Cor of: Amer. 73 1 Am et e el o, dx 105 haconda Copper 9. - Assoctated Ol s sfn.«x.'. Nor. R, s 1 of Gv\urfim s 1629, Mil. & St. Paul 63 1934 iof Lyon Gy 1934, .. 1 G & F. ar T. & R. B8 1004 100% 1047 5 9675 1064 %6 107% 9% 106% 1054% 100% { Waukegan 109% 105 264 | 1064 10745 80'¢ 105%{the boards of Paso Robles, 105% 6% | 4 .jWashmgton 'Stock Exchange’ 30t 9is 1137 8t 108 100 8, A yesterday preparatory to the opening today of the annual Midwinter con { vention of that organization. The new boards include those Willits, Tracy 1l and Healdsburg, Calif ! Klamath Fall |.\lc< “omb, Ithaca and Y.: Bellville, N. J.: Charlevoix and Mount Clemons, Mich., and Norwiclh |Conn. Resignations from the boards of Superior, Wi Orland, Calif., and {Plant City, Fla., were accepted, whil. Calif. Johnson City, Tenn., and Baker, Oreg were dropped from membership as i1 active. Georgetown Gas 5e— Capital Tract. Co—5 at 1 1013, Clec. pid—11 at 108, 5 at 108 %5 at 108 Gas Lt—10 at 72, 5 at 72 t District Natl. Bank—3 at Lanston Monotype—10 at 94, 10 at 20 at H3%. 10 Polomac 1 244 t 945 10 av 945, 20 i at 945, . s Drug Stre. ptd.—10 at 1107, Peo at 110. Money—('all loans: 5 and 6 per Bid and Asked Prices. BONDS. BLIC UTILITY werican Tel. & Telga) 4= Tel & Telga. el g City & Suburban Georgetown Gas Tat Potomac El ot. El. Pow. g & rfd. 7x Wasn. Alex. ‘& Mt Vor. 5n lex. & ME. V. et Wash: Balt’ & Annap. 5e ihgton ;. Washington Wash. Rwy. Wash. Ry. Gas 65, & Elec. 4a & Elec. gen. b MISCELLANEOUS Chevy Chase........... Chesimut Farms Dairy 67,« per Co. Mg, 6. . <. T'd, Bl St Cia S Wardman Park llu‘l’rl Blas. STOCKS. PUBLIC UTILITY American Cavital - Traciio Washington Norfolk & V Potomac Ele 4 Wash. Rwy. & Eler. ‘com Wash, Rwy. & Elec. pfd NATIONAT BA National Capital....... .... Columbia . ........ " iggs ... cond " tional Banic of Was TRUST COMPANY. American Securit Continental Trusi Merchants' Hank National Saving: Tion Trust . Washington Lo: SAVINGS BANK Comuerce & Savings... ... .. Fast Washin 2 Security' Savin Seventh Street, Tnited States 50 FIRE INSURANCE American fis v Yol Tr&C pf (7). ‘Youngstown (4) . Hourly Sales on 1la.m. 347.300 12n.. 660,000 1pm. 888,900 2 p.m.1,071,000 this year—no regular rate. {h comenon stock Dayable 2% %. - Alrbra] 1 ork Tel. 6s 1941 Qregon Short Line 4s 19: Penna. R. R. 43 1931 r‘ Oil Co. 64s 18 Sinclal: 0Oil P, Sou. P 16% | Porto Rico Tob 18 Postum (5) . 96% 96% 96% | pressed Stl Car.. 104% 104% 104% | Pub Serv NJ (2! 86% 36 364 | Pub Serv bf (6). 78K 1% 7% | PubS NJ pf(8).. 125 125 67 67 67 |PubSE&GpI(6). 1024 102% 23% 22% 23%| pullman Co (8).. 185 186% 95 94% 95 Punta Aleg Sug. 44l 46% 121 121 121 |PureOfi (12%).. 2T% 28 41 41 41 |PpureONpf (8). 111% 111% 54 54% | Purity Bak (B).. 43% 44 49% 49% | purity Bak pf(7) 101% 101% 264 26% RadioCorpof A. 52 624 664 66% | 'S Cots (4). T4% T4% 40% 40% 40% | Reading (6)..... 112% 110% 110% | Reading 1st(2). . 124% 124% 124% | Reading 24 (2).. 16% « 200 18% 10 Electric Boat.... 16% Elec Power & Li. 18% Elec P& Lpf(7} 96% EP&LDE 40% (77 104% Blec Refrig (c2) 364 Elec Sto But (16) 8% End-joka (5)... 1 oS e . 26 | Bngineers PubS 2% Lirgingan By pf. 33 Fe | Engnrs PSpt(1) 94% York Railways | Equitable pf (7). 121 WL ErieR It 41 Erie 18t p Erie 2d pf crow Stockholm. NEW 1 107% 41 96 33 106% 52 107% 14 98% 6 100 2 9% 11 93% 14 102% O A erown YORK, 96 3 23 NCE g nion. TITLE INSUR. Columbia Title. v Real Estate Titlo. Title Iny. of Md. eom . MISCELLANEOUS. D. C. Paper pi Federal-Amer, quotations Britain, demand, 4847% cables, 486 5- 60-day bills on banks, 481; France, demand, 3962; cables, 397; Ttaly, demand, 4.24; cables, 4.241%, Demand—Belgium, 13.90; Holland, 39.95% 25.62; Sweden, 26.7 Switzerland, © 19.27%; Greece, 1.27%; Poland, 11.75; Czechq slovakia, 2.96; Jugoslavia, 1.76%; Austria, 14.123; Rumania, 52%; Ar- tina, 4 ;- Brazil, 11.68%; Tokio, trea o3 17 5 ot £ S 1 28 { (o | 822888 pr i g 1 gogin o December earnings of the Chicago and North Western Railway will be | Erie Stm S(2%). elightly under those of the same | Eureka Vact4i 66% month in 1925, when net operating it pgirbanks (3)... #40% come was $1394.143, Tred W. Sar | Famous Pl (38). 112% gent, president, said vesterday after | pamous pf (8).. 124% {he Fegular monthly meeting, 16 104% RAILROAD. Atchison@dj4s.... 8 90 Atchisongen 4s.... 20 98% Atlantic C 1 108% M Statistics showing the output of | Meres zinc at a high rate affected the market | N price of the metal yesterday, prime Western touching 67 cents a pound, Bast St. Louls, a new low for recent stock. in the sbove table 51% | K—Pi 7a% | Class A stock, 96% g—h“‘ 3 2 nalt Tearly ‘deciaratio Stk 0% Videhd rates aa kiven o |B el e