Evening Star Newspaper, January 19, 1927, Page 10

STOCK PRICES HAVE SHARP REBOUNDS Hudson and General Motors ! Comeback Briskly—Pnils ‘ Are Leaders. | BY STUART P. WEST. Special Dispatch to The Star. 1 NEW YORK, January 19.—~The | huying wave in the railway stocks | finally overcame today the elements of pposition which it had been encoun tering in the rest of the market. Yesterday the raill buying had' been | matched by the selling of the indus. | Today selling of the indus 1 its course and there a sharp rebound in the steels, motors, equipments and other groups which hiad previously been weak The three motives underlying movement in the railway shares re- nained as they have been all along, an overflow of investment buying from the bond parket, the expecta- tion_of dividend increases in stock dtvidends, and the possibilities arising out of the merger projects. Of these three -the investment factor is the ost_important, Buying of stocks and Union P: of an inves the | difie today was plainly anent character and it w: ing which showed also in othe rd dividend payers like Sout! lway, Southern Pacific and S louis-San ncisco. Regrouping of railway _systems, shieh it is felt will be carried forward during the year, was the particular influence in the case of Baltimore and Ghlo. Pennsylvania continued to hold uround top figures. Bangor and Aroo- stook went across 50 for the first time in over a year. More buying came into Missouri Pacific preferred on its wtock dividend possibilities, and Rock Jsland was strong again. Hudson Motors had a further sink- #ng spell at the start, dipping below <i9. But it came back briskly and so «lid General Motors. Such selling pres- sure as there had been in Studebaker was lifted. Pan-American B was favorably af- ted by what was regarded as the -\ tter chance for a satisfactory Mex- n settlement. Atlantic Refining, tieneral Asphalt, Mid-continent Pe- 1roleum and Sinclair Consolidated were higher, Still the oils were mov- ing slowly considering the widespread expression of optimism regarding them in speculative Wall street. There was still plenty of Marland Oil for sale around 58 and of Phillips Pe- troleum at the current figures. United States Steel common respond- ed to short covering and Colorado ¥ uel and Iron was stronger. Luquid Carbonic, among the specialties, had 1 | Ajax Rubber. ... | Alls Chalm (6). | Am Snuff (12).. . Armour of 111(B) Atl Birm & At.. Atl Coast Lirts. . Atl Gulf & WI.. Atlantic Refing. Atlan Ref pf (7) 116% 116% 116% 116% Atlas Tack...... Baldwin L (7).. Balto & Oh pf(4) T73% T73% 78% 73% Bang & Ar (3).. Barnsdall A (2). Barnsdall B (2). ) Abrahm&Straus. Adams Exp (6). Adv Rumley. ... Adv Rumley pf. Ahumada(t60c) Alr Reductn(t6) High 66 126 126 10% 10% 3215 32 4% 4% 391 139% 139% 100 0B 10% 10% Ajax Rubberrts % by 4% % Allled Chem (6) 134% 136% 1534% 135% 91 92% 90% 91% ui ut i 111 16% 16% 16% 35% 36 354 18% 13% 13% 4T 4T% 4T% 46% 46% 46% 591 59% 59% Am Beet Sugar.. 22% 22% 22K 22K Am Boseh . 15% 16% 15% 15% Am Brake Sh(6) 136% 136% 1w 1301 Am Br BovEIl(2) 37% 37% 37T% 37% AmBrBopf(7) 97 97 97 97 AmCan(2)..... 46% 46% 46% 46% ! Am Car&Fdy(6) 100% 101 100% 101 AmChain A (2). 26 26 26 26 Am Drug. .. 10% 10% 10% 10% Am Express (6). 130 130 130 130 Am & For Pow.. 20% 20% 20% 20% Am Ho P(2.40).. 30% 31 30% 31 Am Ice (110)... 120 120 120 120 Am Icepf (8)... 85% B854 83% 854 Am Internatl 39 Am La Fr (1 Am Linseed.... 29 29 29 Am Locomot (8) 105% 106% 105% 106% Am Loco pf (7). 120% 120% 120% 120% Am Mach & Fdy 75% 76% 75% 76% Am Metals (4).. 424 43% 421 43% AmPo& Lt (11) 59% 59% 59 59% Am Radlator(5) 112% 112% 111% 111% Am Safty R (13) 54 54% b0% 52% Am Ship & Com. 6 6 6 6 141% 137% 140% 0% 1201 120% 120% 124% 124% 124% 124% 15 45% 45 45% Am Sugar (5)... 814 82 8% 81% Am Sugar pf (7) 109 109 109 109 Am Sumatra.... -46% 46% 45% 45% Am Tel & Tel(9) 163% 153% 152% 153 Am Tobacco (8). 122 122 122 122 Am Tobacco B (8 121% 121% 121% 121% Am Typ Fdrs(8) 126% 128 126% 128 Am W W (c1.60) 64 64 64% Am Woolen. ... 264 26% Am Wool pt (7). 72:& 3 44 474 41% 95 15% 8 28% % 4l 40% 166% 168% 166 168% 9% 100 80X 1\70 % % CL(110) 190 192 l90 l91 17% 18% 1T% 18% 40 40% 40 40 118% 114 113% 114 664 126 0% Allis Chal pf (7) Amal Leather. Amerada (2) Am Agricul Chm Am Agri Ch pt. . Am Bank N (13 Am Bk Not pf(3) xs 13% 47% 46 59% Am St Fdys (:U Anaconda Archer-Dan (3). ArmourDel pf(7) Armour of I11(A) Arnold Con&Co. . Ass0 Dry G(21) Atchison (17%). Atchison pf (5). Atla; 8% 8% 8% 8% % % W K 144% 147% 144% 145% 111% 112% Auto Knitter. Balto & O (16%) 1114 113 50% 324 49 32 29 50% 49% 32u 82 20% 29 29% « runup. In the higher-priced in- dustrial groups American Smelting came back nearly 2 points and Otis Elevator, United States Cast Iron Pipe, International Harvester, Continental laking A and Remington Typewriter were all up a point or more. The equipment stocks, depressed on the previous days had a rebound, Bald- win Locomotive and Pullman particu- larly. Further buying appeared in General Railway Signal. Vick Chem- ical, which had risen 3 points the day yreceding, ran into considerable profit taking. Markets at a Glance NEW YORK (#).—Stocks strong; pivotal industrials lead advance. Bongs firm; Warnér Sugar issues at new top. Foreign exchanges easy; Norwegian kroner lower, Cotton easy; Southern selling. Sugar steady; Cuban support. Coffee lower; commission House selling. CHICAGO.—Wheat easy; poor export Aemand. Corn lower; unsettled sh markets. Cattle higher; good stock marcde. Hogs strong early, then re- wcted. GASOLINE PRICE CUT. € HICAGO, January 19 (#).—Compet- wve conditions were assigned as the reason for the announcement by the standard Oil Co. of Indiana of a dis- count of 1 cent a gallon on all grades of motor fuel delivered in 50-gallon Jots. The discount is effective tomor- row. A few weeks ago the company re- duced gasoline prices 1 cent a gallon. AN T ) ORDERS 1,000 BOX CARS. NEW YORK, January 19 ().—The Wabash Railway has ordered 1,000 | box cars equally divided between merican Car and Foundry and ndard Steel Car Co. POULTRY MARKET CLOSED. CHICAGO, January 19 (®).—There was no poultry market today on ac- | count of the death of the president of the Chicago Poultry Board. CALL MONEY EASIER. NEW YORK, J.mua money easier: high, closing |nd 4 mixed colla months, 41:; 60-90 day prime mercantile PRICES ON PARIS BOURSE. PARIS, January 19 (P).—Prices were firm on the Bourse today. per cent rentes, 52 francs 30 centimes; exchange on London, 122 francs 27% eentimes; i per cent loan, 63 francs 75 centimes. The dollar quoted Gt 28 francs 19% centime DECEMBER SALES RECORD. NEW YORK, January 19 O@).— December sales of Rand Kardex Bu. | e $2,282 815, exceeding by 19 | P cent the St previous month in | the company’s history. | e ISSUE OVEBSUBSCRIBED NEW YORK, Janu offering today of $16 Talking Machine Co. 7 per cent cumu- lative prior preference stock a thare was oversubscribe B. & 0. BUYXfiGETEEL. _NEW YORK, 'y 19 (). s ordered work, 2.000 Marshall Co. | Bridge Co., 19 (P).—An | 0,000 Victor | ©na-doho (5)... RUBBER ADVANCES. NEW YORK. . 19 (Special). « rubber sked vibbed sl ! anced today's noon qu ton of 39% ompares \ulh month an; { su;m QUOTATIONS. NEW YORK, January 19 (#).—Bar cllva, 08%; Mexican dollars, 42%. nuary Bayuk Cigar.... Belding Bros(3). Bethlehem Steel. Beth St pf (1).. IOGK WE'A 108% 108% Bkin-Edison (8). 150% 150% 150% 150% Blkn-Mn Tr (4). Bkln Un G(t11). Brown Shoe (2). Brunswick Balk. Brunswick Ter.. Burns Bro (10). Burns Br B (2).. Burroughs (14). 121 Bush Terminal. . Butte Cop (50c)4 Butterick (m2). Byer & Co.. Calif Packg(s).. Calif Petrol(2).. Callahan Zinc Can Dry Can Pacific (10). Case Threshing. Case Thr pf (7). Central Alloy(2) Cent Alloy p£(7) 107 Cent Leather.... 9% Cent Leather pt. Cent Leathr ctfs Cent Lea pf ctfs. Cerro dePas(15) Certain-Teed (4) Chlnd-lClsvfu o - andler pf( g:u:: Onio (112 159'/. 161!« 169% 160% i & Alton, ... 6 Chi & Alton pt.. Chi&East Il pt 47% 47% 47 Chi Great West. Chi Gr West pf.. Chi MUI&StP. Chi Mil&StP pf.. Cara N (1) 1& Nwn (4).. Ch Bre Tool (6) 129% 13118 120% 131% CniRia P:;:. i &P (6). ér 43 PE (7). 104% 104% 104% 102% Chile Cop (2%). Chrysier Corp(3) 0% 41% 40% 41% Cluett Peab (5). Coca-Cola (7)... 170% 173 Collins & Aik(4) Collins&A pf (7) 135 Col Fuel & iron. Col Gas new (5). Col Gas rts. 3% Col G&E an(fi) 101% 101% 101% 101% Col Carbon (4).. Com Solv B (8).. Congoleum N... Congress Cgr(8) Con Cigars (7).. Consol Distribut Cousol G ConRRCuba pr 6 Consol Textile. . Cont Bakg A (8). { Cont Baking B.. Cont Bak pf (8). Cont Mot (80c) . 2 Corn Prod (12%) 47% 47% Crucible pf (7).. | Levoe & R(2.40) | kastman (18) | iaton Axle (2).. | €1 AutoLt(16%) | Kiec Retriy (c2) | Erie Stm S pt(7) | Kamous PI'(J¥) | Fisk 18t pf (7).. 524 53% 52% b63% 27 27 26% 26% 47 4T% 4T 47 41% b4 6% 6% 29% 31 U % s Mfg (3). 29% 31 67% 69% 6T% 69% 2% 92% 92% 92% 33% 331 33% 33% 37% 877 3Tw 874 13% 14u 13% 144 124% 126% 124% 125% 274 274 2T 2T% 122% 121 122% 31% 32 3l% 32 4% 4% 4% A% &3 53% 653 53% | 44 44 44 W 68 68 68 68 82% 32% 82% 824 2% 2k 2% 2% 37% 37T% 87% 3T% 168% 169% 168% 1694 137% 142% 137% 140% 114% 114% 114% 114% 28- 28 27% 2T% 107 107 107 M 9% 9% B5% 656 55 55 8% 8% 84 84 56 55 65 55 €% 61 60% 61 42% 44 2% 48% 9% 9% 9% 9% ) 22 22 22 (c2% 10 1ov.: 47 M% 9% 26% 26% 10% 11 | 204 | 10 10% 9% 26% 11 20% 20 9% 26% 10% 20% 20 4% T3% 3% 96% 96% 96% 3% 96% 36% 36% 36) 86% | 62% 62% 624 624 170% 170% | 656% 68% 656% 684 135 135 464 4T% 46% 47 92% 921 92% 92% 91% 91% 90% 91Y% 3% 3% 3% Col & Southn (3) 67% 0% 67% T0% 1% 17% 1% 1% 240 246 240 244 19% 19% 18% 18% 53% 63% b63% 534 80% ®1% B80% 81 1% 1% 1% 1% 105 106 104% 105% 69% 71 69% 7L 4 4 3% 8% % 3% 8% 9 8% 8% Com Credit (1).. 5).. USIUAR THE NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Offic Low. Close. ¢ { Freeport Tex (2) Gabriel Sn (3%) Gardner Motor. . | en Am Tak (3) Gen Asphalt. . | Gen Cigars (4).. Gen Elec (h3). i (Genkilec sp( bUC) Gen Gas A(e11) Gen Motor(t11) Gen Mot pf (7). Gen Outdr Ad(2) Gen Outdr A (4) Gen Ry Sig 151 Gimbel Bros... Gimbl Br pt (7). Glidden (2) Gold Dust. .. Goodrich Ru (4) Goodyear pf (7) Gothm S H(214) Gotham new 23 Gould Coupler A Granby Consol. . Grt North pf (5) Gt Nr Ore(t114) Gulf Mo & Nor. . Gu M & N pf (6) HartmnB (k4.40) Havana EI rets. Hav El ctfs (6). Hayes Wh(t31) Helme G W (17) Hoe & Co A. Homestake (18). Househld (+314) Houston OIl. ., Howe Sound/(4) Hud Man (214) Hud Man pf (5). Hudson u.uvu) Hup Mot (1.40). Minots Cen (7. 11 Cent pf (6) Indep Ol (1y. Inland 8t (2%). Inspiration (2). . Interbor Rap Tr Intcont] Rub(1). Int Bus Ma 134 Int Cement (4). nt Com Eng (2) Int Harv (j6). IntMtch nh. 20) Int Mer Marine. . Tnt Mer Mar pf Tnt Nickel (2) Inter Nick pf (6) Int Paper (2). Int Paper pf (7). Jewel Tea. .. Tones Bros Te: Jordan Motor. KCP & L 1st (7). Kan City South Kan CSo pf (4). Kayser J (4). Kayser pf (8). Kelly-Spring, . Kelly-Spring pf. Kelly-Spring 1st Kennecott C (5). Kinney G R (4). Kraft (11%)... Kresge SS(1.20). Lago Of1 & Tran. Lambert Co (5). Lee Tire & Rub. Lehirh Vail(t5) Leh&Fink stf(3) 371 Life Sav (1.60). . Liggett & M(t4) Liz& M B (t4).. Lima Loco (4). Ciq Carb (3 60). T.oew’s Ine (13). teriieniannas Tong Bell A (4). Lorrillard (§8) Louisiana Of1 LonisGasA(1.75) 24% 25 Louts & Nash(7) Ludlum Steel(2) MeCroryB(11.60» Mack Trucks (8) Mackay (7).. Magma Cop (3) Manati Sugar. Man E! Sup (5).. Man Elev gtd. Man El m g (D5) Man Shirt (1%). Maracatho Ofl... Market St prior. Marland Of1 (4). Marln Rock 121 Martin-Pary(2). May Dept (n)... Maytag Co (2).. Mexican Seabd. . Miam! Cop (1).. M1d-Continent. Mid-Cont pf (7). Mtddle States. .. Mid States Oil et Miller Rub (2).. Minn &St Louis. Min St P & SSM. MStP&SSM 11(4) Mo Kan & Tex. . MoK & T of (8). Missourt Pacific. MissouriPac pf. . Montana Pow (5) Montgmry W(4) Moon Motor. .... Mothr Lode(75¢) Motion Ple (1).. Motor Whi (2) Mullins Body. .. Nash Motor (4). Natl Acme. . Nat Blseuit (5). Nat Cash R(A)3. Nat Cloak & Suit NatPw&LL(80c) . Nat Supply (16) t Surety (+11) Nevada C (1%). NY Alr Brake(2) N Y Canne NY Central (7). ¥ Chi&StL(11) NV NH & Hart.. 95% 95% 95% 95% 140% 141% 140% 141% 124 12% 124 124 4% 4T% 60% 61% 60% 61% 9% 9% 9% 9% 103% 103% 108% 103% 10% 10% 10 10 8 4Th 4Tw 2 32 Cont Insur (6).. Coty & Co (5) Crucible Ste CubaCane Sugar Cuba Cane Su pf Cuba Co (4) Cudahy Pkg (4). Davison Chem. . Del & Hud (9).. Del L& W (7). DRG Wstpf... Detroit Ed (8).. ¢ 20% 176%, B2 | z'mi 177 ll;‘/z % 46 136% 136 136% 39% 40 39% 40 24% 26% 24% 25M 82 82% 82 82k | 9% 10 9% 10 | 53 53 53 83 | 172 176% 172 176% | 116% 116% 116% 116% | 132% 133 182% 133 | 24h 24% 2a% 24% 24 12% 61 64 1% 1% 17% 174 34% 43k 8% 36 67 » 23 22% | 97 96m 07 41% 41% 41% 5% 54¥ b4l | 49% 49% 4 % 284 27% o 104% 104% 65% 64 4% 41w 112% 111% 122 122 42 39% 77 6% 2815 28% 100 99% 28% 284 28% 16% 17 16% 83% 84 83 6% 47 46% 81 81 80% 69% 69% 69% 145 46 136 Dodge BrosCl A. Dodge pt (T).... Dome Mines (2). Dous-Pec (12%) Du Pont (112).. Duguesne pt (7) wisenlohr & Bro ~ 1415 ctric Boat. . . wiect ”‘/7 Klec Power & Lt Elec Sto Bat(16) Emporium Corp. 3 Engineers Pub S Engnrs PS pf(7) £rie Stm S‘?%) | 104 65% | 41% | 1124 | 122 | a2 6% | 28% 100 28% 16% | 81 47 80% 69% Gureka Vac % Fairbanks (3).. Famous pf (8). Fed L&T(n1.40) ¥ed Min pf (7). ted Mot T(f80¢) £1d Phoenix (6) First Nat S(1%) 1k Rubber. ... 28% 100 Eleischmn 12% . Foundation (8). Fox Film A (4).. Y Ont& W (1) Norf & W (110) . NthAm b10% stk North Am pf(3). NorAm Ed pf(7) North Pac (5). Norwalk Tire. Nunnally (1.50). 01l Well S pt Cmnibus. . . Orpheum Cir(2). Otis Elevator (6} Otis Steel. .. Outlet Co (14)... Owens Bot (c16) Pac Gas&El new Pacific Gas rts. . Pac Tel & Tel(7) Packard (12.90). | Paige Motor. Pan-Am (6). Pan-Am B (6). Pan-AmWnB(2) Panhandle. ..... | Park Utah (80c). Pathe Bx (c3) I*eerless Mot | Penick&Ford n C & Coke. Dixte Ct(80c) :penna R R (3%) Penn-Seab Steel. Peoples Gas (8). Pere Marq (18) . Pere Marq pf(5). Phila Co (4).... ©hila Copf (3).. Phila& RC&L. Philip Morris. Phillips Pet (3 Phoenix Hoslery Plerce-Arrow. plerce- Ar pf (§) vlerce Petrolm. . Pitts Stl pf (7). pitts Ter pf (6). Pitts& W Va(6) rostum (6)..... Pressed Stl Car. | Pr Stl Car pf (1) pub Serv NJ (2) Pub S NJ pf(8). Pub SE&G pf(6) Pullman Co (8). Punta Aleg Sug. EVEN] Open High 871 38l 30 % 474 Low. 87% 84 1% 42 148% 150% 141/- 121% 121% 121% 37% 38 67% 57% bTn 37% 881 87 41% 42 41y 103% 103% 103‘6 MV. AT 99%, 60 20 201 | 9% Grt Westn Su (8 1124 113% 11214 112% 40% 40% 108 26 28% 94 19 40 1084 108% 26 2814 94 19 80 63 44% 67'% 38% 43% 80W 49% 51% 48% 21% 21% 21% 1234 1237% 128% 123% 123% 12: 43 24% 45% 12% 567% 47 45% 0% 39% 43% 80% 804 484 46% Int Cement pf(7) 103% 104% 103% 104% 46 48% 138% 141 63% 64 46 39 10% 106 98% 98% %, Int Tel & Tel (6) 126% 127% 126% 127 554% 564 554 15% 16% 15% 19% 19% 18% 113 118 113 44% 44% 43% 66% 66% 66% 55 b55% B4 116 116 10% 10 42 a1 4 44 61% 62 61% 32% 32% 381 58 58l 58 52% 5314 524 21 @ s 68% 687 68% M % % 119% 125 87% 371 23 23 23 99% 100%. 99% 100% 101% 102% 102% 101 6315 64% 6314 55 57% 55 48 48% 48 6% 6% 6% 41 41 41 31% 1% 17 24% 131 27T% 26% o AL 93% 92 131 26% 71 93 131 -+ 120% 120% 120% 120% Macy H R & Co.. 129% 135% 129% 132% 34% 354 34% 42% 42% 42% 54% 54% 54% 87TH 87T% 8Tk 50 52 50 5% 26% 26% 43 43 57% 684 28 22 69 2 21 % Th 16% 15% 15% 37% 38% 3TH 104% 104% 104%'104% 2% 1%* 33% 2% 2% 1% 1% 33% 33% 2% 2% 1% 31% 6115 614 35% 34% 97% 974 43% 42% 974 95% 82Y% 821 65% G4% 11 1 4% 4% 13 13 22 22 10% 10 684 67 6% 5% 99 98% 41% 41% 19% 19% 74 3% 254 25% 20% 20 2T% 27% 83 83 167 167 20% 84 247 14% 14% 42 41% 20% 20 144% 142% 188 188 44% 43% 24Y% 24% 160% 160 49% 49 98k 9% 84% 83% 4% A% 13 18 104 104 18% 13% %6 33 % 5% 32% kA % 0 140 140 35% 34% 10% 10% 65% 63 66% 63% 36% 36% 18% 18 6% 6% 42% 41 28 27% 21% 21 s 10% 374 36% 084 o7 P 4 128 128 120 119% 20 81% 81% 81% 814 32% 88% 32% 33% 125% 125% 125% 125% 102% 102% 102% 102% 184% 185 184 43% 43% 43 37% 388 113 116 118% 121% 131 NG STAR, WASHINC THREE NEW LISTINGS ORDERED | (v o BONDS o v IIRAI]IN[?. QUIETER Close. 38% | s0 | T4 478 8314 5“," 841} 11% a | 149% 121% 57% 87 42 103% 19% 19% 40 108% 25% - 123% 4% 4815 98% 56% 16% 18% 43% 66% 55 10% 41 44 62 31% 58 52% 21 68% % 1% 23 64% 55 48% 6% 41 32 17% 24% 26% 70 924 35% 42% 54% 87% 15% 38% 2% 1% 331 2% 31% 61% 34% 9% 42% 95% 82% 64% 1n 4% 13 22 10 68 6% 98% | 1% 19% 3% | 264 2014 21% 83 167 20% 85% 241 | 14% | a2 20% 143% 188 43 24% 98 83% 4% 13 104 13% %% 82% % 140 35% 10% 5% 66% 36% 18% 6% 42% | 28 21% 10% 36% 8% | % 128 119% 184% 43 | Purity Bak B(2) { RadioCpf (3%) ! Utd Drug (8)... iTON. D. C. WEDNESDAY, BY LOCALEXCHANGE GOVERNORS! Recent Gas Light Co. Bona Issue, Bethesda 3 : Bank Shares and More Federal-Ameri- can Common Admitted. BY EDWARD C. STONE. “Three listings were ordered by the | board of governors ot the Washington \ Stock Exchange today, making what | is believed to be a record for one session. The board voted to list the Wash- ington Gas Light Company's rccent $1,500,000 issue of 10-year 6 per cent | known as series T an mortgage gold bonds, B and dated October 1, 1926. s bonds are part of a $3,000,000 issue dated April 2, 1923. A previous issue of these bonds, known as series A, has long been dealt in on change. board are the ones which were re- cently so heavily oversubscribed. 1t was voted to list 4,000 shares of the stock of the Bank of Bethesda, these shares having a par value of . Walter R. Tuckerman is pres; dent of the bank, George P. vice president, Francis Wallace tary and S. Walter Bogley c The bank has $100,000 capita cently moved into a handsome building. The board also listed 38,000 addi tional shares of Federal-American o common, par value new 6 per cent stock. Railway Preferred Leads M Washington Railway and EI preferred led today’s local 5 t 9072 and closing at 90% share turnover. Potomac Slectric preferred came out at 108 Capital Traction at 103%. Twenty shares of Continental Trust sold at 105 and two of American Security | and Trust at 372. Georgetown Gas bonds registered at 98%. Budget books were in strong de- 29% 47% 43 49% 51% PureOll (1234). 29% 29% Purity Bak A(3) Radlo Corp of A Ray Copper(25¢) Reading (6)..... Reading 1st(2).. Reading 2d (2).. Real Siik Hose. . Remington Type Replogle Steel. . Rep It & St (4) Rep 1 &S of (7) Reynolds Spngs. Rey Tobac B(5) Robt Reis & Co. . Royal D (a3.078) Rutland pf (1).. Safety Cable (4) St Joseph L(+3). StL & SanFr (7) St L Sonthwest. St L Swn pf (5). Schulte (312). Seaboard Air L. . Seab AlrL pf... Seagrave(el.20). Sears-R (n2%). Seneca Copper. . Snattuck F G(2) Shell Union (12) Shubert The (5). Simmons(12.25) . Simms Pet (1) | Sinelair Ofl. Sinclair pf (8) Skelly O11 (2)... Sloss-Sht pf (7). South Port § (6) Sou Calif Ed (2). Sou Dairles A(4) Sou Dairfes B. South Pac (6)... Southern Ry (7) Soleer Mfg...... Std Gas & EI z: Std G & El pf(4) Std Mill (5)..... Std Ol Cal +2% . Std ON NJ(+1%) Std O11 NJ pf(7) Std O NY(1.60) Sterling Prod(5) Stewart Wa- (§) Stromberg (6).. Studebaker (5).. Submarine Boat. Sun Of1 (1), Superfor Of1. ... Superfor 8t1(2).. Sweets of Amer. Tenn Copper (1) . Texas Co (3)... Texas Corpn (3) Tex Gulf Sul (4) Tex & Pacific. . . Tex & Pac & O Tex Land Trstn Third Avenue. .. lnm i l)n 23% | 6014 29% | €6 501 57 51% 574% | 16 | Tide Water(11%) Tide W Ofl f(5) Timken (16).... Tobae Prod (7).. ‘Transcont Oil... Underwood (4).. Union Carb (6). Union O11 Cal (3) Un Pacific (10).. Un Pacific nf(4). Union Tank (n). Utd Cigar 8 (¢c2) 102 54% | 4 163% 80% 97% 97 168% | 60 115 UtdDrg 1st(3%) United Frult (4) USCIP&F(10) USCIPDf (7). S Distributing Hoff (13%). Aleohol (5). Realty (4) Rub 1st S Smelt (3%). U S Steel (7) U S Steel w | U S Steel pf (7). Universal Pipe. . Univ Pipe of (7) Ut PRLt A (e2). Vanadium (14).. Vick Chemical. viet'r TM pr pf 7 Va-Caro Chem. . Va-Car Ch 6% pf Va-Car Ch pf(7). Va Iron Coal & C Vivadou (3). Vulcan Detin. wabash........ Wabash pf A(5) Wabash pf B... waldorf (1%) walworth (1)... ward Baking B. ward Bak pf (1) Warner Bros. . West Maryland. West Md 24 pf. West Pacific West Pac pf West Union (8). westhse AirB 18 Westinghse (1) Weston Elec. ... Wheel & L Erle. Wheel & L B pf. White Eagle (2) White Mot (4).. wickwlire otfs. ... willys-Overland willys 04 pf (7) wilson & Co. wilson & Co( Wiison&Co pf(7) Woolworth (5).. 180% Woolworth wi(5) 120% Worthn Pump.. 22% 224 wortn Pump(B) 40% 40% Wright Aero (1) 32 83% Yale& Tne (15). 72 172 Yellow Tr (76¢). 27% 28 Yol Tr&Cpf(7). 95 95 Youngstown (4) 87% 88 Hourly Sales on N. Y. Market. 1lam. 392,000 12n.. 716,300 lpm. 935900 2 p.m. 1,145,000 114 s s s 8 8 U u u o o u u % | Thom, B. 17% | 3814 * L low: " 219% | JANUARY | | mand in local banks yesterday when ! | family economy was s Thrift week campaign. The Sug- gestions are very helpful even if one does not start in and carry l:\lon;: the figures for a year. Today |is "Life Insurance day” and tomor- row “Own Your Own Home day.” | Bank Figures Reveal Prosperity. ¥ Booker & Co. has prepared ng the capital, sur- profits, deposits and plus all Washington the ex- The bonds just placed on the | d with the figure for June 30 However, the additions to sur ])hw and the increases in undivided profits made by many institutions shows that the local banks had a sperous six months. aggregate figures for the banks the close of the year, compared ith those for June 30, 1926, are {both interesting and informative. On ! December 31 the banks had a total 321,910, compared with surplus on De- ; undivided profits v totaled $6,209 809,48 June resou | an. ; while total of 3 10 in the middle of the year. Munsey Trust Has Election. At the annual meeting of the Mun- i sey Trust Yvesterday afternoon directors were elected, Rudolph tman, an attorney, being the only new members of the board: Wil- liam T. Dewart, Charles Denby, C. T. Charles Hawley, J. H. G. T. Hodges, jr.; Arthur G. Ldmlml( Wilton Lambert, C. H. Pope, D. Ratcliffe, Franz Schneid- er, ir.; Alfred P. Thom, R. H. Titherington, Fred A. ‘Walker, A. R. Watson and T. C. Willis, 1 The board re-elected the following ! officers for 192 1 Wi s JJP\\th president; Wil- ton J. Lambert, \i(e president and general coun 1. Pope, vice pres- ident D. Ratclife, ant treas- Willis, secretary and as- urer, and P. J. McMahon, assistant treasurer. American Security Officers. The board of directors of the Ameri- can Security and Trust Co. elected | these officers late vesterday, Charles i E. Boswell being added to the list of ant treasurers: Charles J. Bell, president; Corcoran aul and Howard Moran, Frederick P. H. Sia- Charles E. Howe, am L. Beale, real es- J. Dann Faber, auditor; hillington, assistant secre- Houston, T. Stanley ot Moran, Arthur G. 11 G. Jonscher, assist- ers; William W Ireland, Percy Dulin, j ard B Chaj 826 vice president I dons, secretary. treasurer; W tate office Albert H. tary; David Holland, J. Nichols ‘and ant trust off Hans W. | James . lnuh s, Harry P, s E. Boswell, John E. Benton, White assistant treasurers; assistant I auditor. 1 North Capitol Names Board. The following board of directors has :been elected by the shareholders of ithe North Capitol Savings Bank: Paul Allen, E. Burgess, George A. O. Dille, John A. Eckert, rles W. Floeckher, Edward F. Hall, Joseph A. Herbert, sr.; Hollander, W. P. Keneal i Michael, Theodore Michael, Phillips, Leo A. Rover, C. {Charles B. Stewart, Charles tand F. L. Zirkle. The directors organized and elected | | these officers: Theodore Michael, ident; George Clagett and A. ‘I)lllo vice presidents; E. S. Burgess, P. Henry Coates, cashier, . Rover, attorney. Two New Members on Board. At the annual meeting of the Mount Vernon Savings Bank Robert T. {Highfield and Frank W. Lee ivel {added to the directorate and the fol- lowing members re-elected: | James H. Baden, William R. Baui { Albert J. Berres, G. M. Bugniazet, 1C. Davidson, R. Golden Donaldson, {Charles P. Ford, Harry W. Hahn, | Fred Hewitt, Hayden Johnson, Wil Johnston, Dr. E. F. Koss, ’. Moses, William Muehleisen, Glenn Phelps, B. L. Rinehart, H. Walcott and O. B. Zantzinger. Title Company Chooses Officers. The Washington Title Insurance | i Co. officers for the ensuing year fol- E. L. Schmidt, president; A. | Bishop, vice president and title of | ficer; Joseph N. Saunders, vice pré: dent and t officer; Charles W. { Stetson, vice president and title o {ficer; William M. Hallam, vice presi- dent and_title officer; Eugene A. v\mllh vice president; George H. {O’Connor, vice president and title of- ficer; Harry M. Packard, secretary- treasurer 1. Stadtler, assistant S R. J. Bierbuchen, and E. Roy Hill, J. Acacia Repor!v Record Year. The Acacia Mutual Life Association of Washington has closed the best year in its history, according to a tel- egram sent by President Willlam Montgomery to branch managers all over the United States. The associa- tion, chartered by Congress in 1863, ! now hhn more than $226,000,000 of in- uring the association placed more than $45,000,000 insurance, rep- resenting a gain of more than $30, 000,000, Heard-in Financial District. Frank P. Harmon, jr., vice presi- dent of the Merchants’ Bank and Trust Co., was receiving congratula- | tions today on the arrival in his home of Frank P. Harmon, 3rd. President John R. Waller of the International Exchange Bank was sending out a January 12 statement to stockholders®today. The bank pres- ident reports that dividends totaling i more than $60,000 have been paid to shareholders during the year, these disbursements going to 1,500 stock- holders in more than 40 States. Local banks report that many new accounts were opened on Monday, the st day of Thrift week. Just how many of them were due to the special campaign cannot be stated, as no questiony are asked as to why de- positors are opening accounts at this time. ‘There is no doubt, however, considerable new business this week will be directly due to the Thrift | week appeal; The American Bankers’ Associa- tion’s protective committee is making a special appeal for heavier penalties in robbery cases throughout the coun- New measures with this aim in view are to be presented to various | State legislatures. It is expected that nearly 175 will attend tonight’s forum dinner at the City Club at 6 o'clock. EXPORT GASOLINE DOWN. NEW YORK, January 19 (#).—The Standard Oil Co. of New. Jersey has reduced the price of export gasoline one-half cent a gallon to 27.40 cents, in cases. ssed in the | 1 19, 1927, FINANCIAL. Received by Private Wire Direct to The Star Office. (*) This table carries quotations received up to 3:15 p.m. A com- Plete table will be published in the 5:30 Edition. UNITED STATES. (Sales are in %1 000.) Sales. High. Low. 3:10 Lib3%s... 190 10112 101 10 101 12 Libist4tis 26 10312 1038 1038 Lib2d 4%s. 35 10024 1002 100 22 Lib3d4%s. 168 10112 101 11 101 11 Lib 4th 4% s 343 103 24 103 24 103 24 US3¥ys. 57 103 23 108 22 103 22 US4s1944. 30 106 24 106 22 106 22 US4%s52. 49 11027 110 25 11027 FOREIGN. Sales. High. Low. 3:10. | Argentine 5s...... 57 9% 91% Argentine 6s Ju 59. 34 9% Argentine 850ct59. & 9T | Argentine 6s A 98 | Argentine 6s B 9% Argentine 7s. 99 Australlan 63 9! Austria 7s, 103 Bank of Chile 9614 Bank of Japan 6s 100% Belglum 8s. 95% 100% 103% 102% 113% 108% 105 96 923 97% 105% 101 104% 101% 100% 1085 1081 98% 100 1024 100% 103% 102% 114 109 “hile 8s 1941, Chile 8s 1946. Copenhagen 518 Cuba 5%s. . Cazecho7%s rets. ... Czecho 88 1951 . Czecho 8s 1952 ct. . Danish Munfc ¥s A. Danish Munic 8s B. Denmark 8s..... DEI5%s Mch 53.. DEIn5%s Nov 53. Dutch East I 6s 47. Dutch East I 6s 62. Finland s f 6s 45. U S Steel sf 6s. . Utah Pow & Lt 6: Vertientes Sug 7s.. Warner Sug 7s 3 Warner Sug 7s 41. West Elec 58 = Westinghouse 5s. . Willys-Ov 6%s 33. Wilson & Co 1st 6s Youngstn S&T ‘At&S F cvt 48 05-66 Atchison gen Atlantic C L cl Atlantic C L 1st 4 Atlantic C L 7s. B&Ogoid 4s... B&Ocvis. B & 0532000 D, B&OIstssct B&OG: {B&Ort imp B&O PLEWY 4s B & O Toledo 4s Brdwy & 7th Av bs. Bklyn Manhat 6; Buff R & Pitt 4149, Can Nat 4%s 30. .., Can Nor 435 197 ad North 6145 tnad North 7s. Central Pacific 4s. Cent Pac 1st 55 90, Ches & O cv 415, . Ches & O gn 414s. . Lm&AItJ‘ésctffl ChiB&Qgn 4553, ChB&Q 1strr 6s. CB&Q-1l13%s.. Ch1 & E 1] gn s 51 Ghi Gt West 45 '59. C M & Puget S 15, CM&StP4s25 C M&St P 45 25 ofs CM&StPdb4s. CM&SPeva ¥ s32cts CM&StPrf4ts. (‘M&SP rf 4%scf14 CM&StPcvbs... CM&SP cv 5s cfs 14 CM&StPés.. Cht & NW gn 3%s, Holland-Amer 63 Hungary 7%s fapanese 6%s 5 Tergens U M 6s 47. 12 17 . 21 Mexico 43 10 asntd. Mexico 6s asntd. Montevideo 7s Netherlands 6s 54. . Nord 6%s Norway 5%8s. Norway s 1943 Norway 6s 1944 Orlent Dev deb 6s. . Paris.Ly-Med 6 Paris-Ly-Med 7s... Paris Orleans 7t Peru 7%s. Peru 8s. Poland 6s 40 Poland 8s. | Porto Alezr Prague 7%s Queensland 6s. Queensland 7s. Rhinelbe Un 7s. i Riode Jan 8s 1946. | Riode Jan 8s 47. Rio Gr Do Sul 8 ! Sao Paulo ¥s 1931 Sao Paulo 1950. Saxon (PW) 7s. Seine 78 42... . Serbs Crot Slo 5. Sotssons 6s. Sweden 5%s ot Swiss 51%= 1946 Toho Elec Pow 7s.. Toklo 5s. Utd Kingm 5%s 29. Utd Kingm 5%s837. 16 105 UtdSteamCopen 6s. 1 92% Yokohama Bs wi.. 243 96% 96 MISCELLANEOUS. Ajax Rubber8s.... 8 106% 106 Am AgriChem 735 16 104' 104 foi% AmSmit& R 1st5s 8 101% 101% 101% Am Sugar ref 6s. 3 104% 104': 104% AmT& Tel trés 98% 984 mT& Tel tr 5s. 103% 103% AmT&Tsf5s... 1023% AmT & Tdeb 5%s 106% Am Water Wks 53. Am Writing Pap 6s. Anaconda 1st 6s. Anaconda cv db 7s. Andes Cop 7s rets. . 3 Armour&Co 4%srf Armour Del 5%s... 57 Barnsdall s ctts Bell Tel Pa 55 B Bell Tel Pa 55 C Beth Steel pm 53, | Beth Steel rf6s. ... Beth Steel 515 53. Beth Steel 6s. Brier H St 1st Bkiyn Ed gen 5s. .. Chile Copper 6s 32. CommonwIth P 6s. Con Coal Md 1st 5s. Con GasN Y 5%s.. Consumers Pow 5 Cuba Canecv 7s Cuba Cane ¢v 83 Cuban Am Sug 8s Det Edison ref 6s Dodge w 16s....... Duquesne Light 6s. 1167% 06% | Est Cuba Sug 7%s. Empire G & F 7%s. Goodrich 6%s. . Goodyear 8s 1931 Goodyear 8s 1941. Hershey 51%s. Hoa & Co 6%s HumbleO & R 5%s Illinots Bell 1st 5s. Iliinots Steel 4%s. . (nt Mer Marine 6s Kan CP&L 6s A 52. 3 Kelly-Spring 8s... Lackawa S 58 50. Lacl G ref 34... Loulsv G & I 5s 52. Manat! Sug st 7%s M1d-Con 6%s 40 Midvale Steel 5s Montana Pow 6s. .. Mor's & Co 1st 4%s New Eng Tel 6s... N Y Bdison 68 44... N ¥ Edison 6%s N ¥ Tel 4% N Y Tel6s41. N Y Tel 63 49. North Am Ed 6s... North Am Ed 6%3 Nor Ohlo T & L 68. Nor States Pow 5. Nor States Pow 6s. Gas & El 6s. .. Fan-Amer Pete 65, Phila Co 5 %s 38 ehilaCorf6sA... Phila & RAC &I 68 1004 104% 100% 103% 101% 105% 104% 105% 105% Public Service . P Serv Gas E%l 69. P Serv Gas 5%s 64. Punta Alegre 7s. Hemingtn Arms Siuclair Ol stnclair Of1 Stnclair Ofl 7s. 3in Crude Of 3in Pipe Lin 8o Por Rico Sug Southwest Bell 6s.. 13 103% Stand OII N J 68 w 1 84 102% Sug Bast Orlent 7s. 14 100 ‘enn Klec Pow §s. . 95% 5 954 101 iy 107% 96% IW“ 106% _lsInt Rap Tran7s. Chi & NW gen 4 Chi Rys 5s. . ChiR1&Prf ChiITH&SE Chi T H inc 6s 60. . Chi Unlon Sta 5s 44 Chi & W Ind cn 4s. CCC &St L 5s Clev Term 5s. | Clev Term 5145, C&S1st4s29 Colo & Sou 414 Cuba R R bs.. CubaRR 6s 1636 cfs Cuba RR 7%s..... Cuba Nor 63 66.... Del & Hud st rf 45 Del & Hud cv 55 35. Del & Hud 5%s. Den & Rio G cn 4s. Den&RioG 41s 36. D& Rlo G imp 5s. . D Rio G West 5s. Jrfe 1st cons 3. ErleconvisB Erle conv 43 D. FlaBC5s4.. Grand Trunk 7s. . (it Nor 414576 D Great Nort! Great North 53%s. . Gr Nor gen 7 : Green B & W Hav E Ry 5%s rets Hud & Man ref 5: Hud & Man aj 5s. [l Central ref 4s fliCends52....... 111 Cen 4% s 66 [l Central 5%s. Int Rap Tran §s. Int Rap Tran 6s... Int & G Nor 1st 6s. Int & G Nor ad Tnt Rys C A 5s 7 | Int Rep C Am 6s a | Kan City Ft S 4s { Kansas City S s. { Kansas City S 5s.. Lake Shore 45 28.. . | Lake Shore 45 31. | Lehigh Valcn 4s. . Lehizh Val 55 2002 Louls & N unt 4s L& N 4145 200! Louis&N5sB.... Louls & Nash 7s... Man Ry 1st 90 Market St 7s 40 MIIEIRy & L 5s M&StLlstrf4s. Ivsepa MEK&T Ist4s < |MR&T4sB. M & & T adj 5 MKE&Tprin5 MK&TS6sC... Mo Pactfic gen 4s. . Mo Pac 55 1965.. ... Mo Pac 6s49 D.... Mo Pac 6s 55°E...... Mont Trm ref 5s 41 Nassau Z Ry 4957, | New Or Term 4s. NOT&Minbs. NOT&M5%s N Y Cen gen3s.. N Y Cent 45 98 NYChi&StL 5%sB. YC&StLS6sA.. New Haven c d 6s. N Hav&H clt 65 40. NYOnt Wist4s.. NY O&W gen 4555 N Y Rys 65 65. N YRys6SA65... N ¥ State Ry 4%3. NYStateRy 6125 62 N Y W R Bos 4 Nor & S gen 5s rthern Pac 3 Northern Pac 4: Northern Pac r Ore Short L rfs 43. Ore-Wash Ist 4s... Pennsyl con 413 Pennsyl gen 414 Pennsy! gen 6s. Pennsyl 55 64 Pennsyl 61 Pennsyl g>ld 7s. . .. Pere Mar 1st 4s 56. Pere Marq 1st 5s. PCC&StL5s A PCC&StL 5s BT5.. | RI0 G Westel 4s... [RLArk& L4%s.. | StLIM&S4529... St L IM&S R&G 1 StL&SFplisA. StL&S Fprinbs. StL&SF5%sD. [StL&S Fad)és... StL &S F Inc6 StL&SFplésC StLS W con 4832, StP & KCShL 4%s SanA & Arn P ds.. Sou Pacific clt 4. Sou Pacific ref 4s. . Southern Ry gen 4s | Sou Ry Con 5594, Sou Ry 6s56. Southern Ry 6%. Chird Ave ad) ’{’ol Tr L&P 5. Sales. High. Low. 3:10. 107% 107% 107‘\ 4 99 9% B4 i 97y 7 102% 11 102% 1 101% 5 102 64 104% RAILROAD. 16 B & O Swbiv 5s cfs 2 Bdy & Tth Avbs ofs 3 35 1 9 944 117% 104% 9214 25 22 1 10 40 Int Rap Tr 6s stpd. 337 87% $6% nb New Hav deb 4s 57. 2 Seaboard AL 4ssta 3 111% 1114 ; 5 17 98 67 9874 99% 9'% 17 84M 9T% 102% 102% 100% 102 1044 104% 884 94K G924 105% 102% 108% 94% 102% 83% 7% ; | and netted the line a profit over 4 | charges and depreciations g { Standard of New INBOND MARKE Prices, However, Are Main- tained Around the Recent High Levels. BY GEORGE T. HUGHES. al Dispatch to The Star. NEW YORK, January 19.—Tradi: in bonds quieted down today. Pric were maintained around the rece: high level, but for the most part mac little further progress. There was or I-|r featwrs that had nothh th the market as a whole That cor 1 of a violent advance i Warner Sugar refunding 7s of 19 This bond, together with the first of 1941, has had an erratic record fc a year or more 7 ranged during to a high of 9 varied between a low of of 100. The refunding s today opened at 77, which was unchanged from Tuesday's close, and then had a per pendicular rise of 7 points to 84 be fore any reaction. The 7s of 1941 were up 214 points at 95, Another “feature which attracted fl)oluh\lne attention was buying of Liquid Carbonic s, resulting in gain of over 2 points. In this tI improvement was based on the cor rston privilege the stock carrie There was a good deal of in the high-grs 9 to a high debenture: little change in price. is on these is now fresh advance mus: Barnsdall ¢ firm around buying « , but with low 105 and there was some the bonds without wa ed by (he liberal returns alk was heard of an increase in the divide; of Barnsdall stock, which would, | it came to pass, increase the v of the bonds which carry the war- Foreign bonds were inclined t work higher. Gains, however, were not as large as in recent session The favorites today were the Brazi obligations and some of the Fren industrial issues WHEAT HAS SETBACK: CORN AND OATS EASY Failure of Argentine Government to Prevent Low Export Prices Has Bearish Effect. By the Associated Pres 19.—Indications teps have been taken to prevent low prices on Argentine exports gave wheat an e setback today. Liverpool quotations lower than. due added to the downward trend ting at 3 off to 3 up, heat underwent 't @ general Corn and oats were easy; firm, corn i opening un changed to i higher, but then reced- ing. Advices In rey { reports that the ment intends to support whe though the government will endeavor to prevent tlie Argentine wheat crop from being exported at a low price nothing definite had yef been attempt ed. Word from other sources was that rumors of an advance to farms by the Argentine government were without foundation, and had been put out by interested parties. ‘Wheat traders here leaned to the view that wheat supplies in Argentins | must be proving burdensome if gov ernment aid is necessary to support the prices. It was also pointed out that although Chicago stocks are small, the United States still has | wheat left for export and that domes- tic prices are above world parity to_inquire o official action to id that al- BARGE TRAFFIC GAINS. ORLEANS, January 19 (Special).—A ! total of 1,043,000 tons of freight was, handled in the last year by the Gov-. ernment-owned barge line on the Mississippi River. This is a gain of 133,000 tons over the previous year al RUSSIANS BUY MACHINES. NEW YORK, January 19 (#).—The { Hutto Engineering Co. of Detroit has sold to the Soviet government 89 Twin-3 type Hutto cylinder grinders and 108 extra sets of abrasive cutting units. Ten Russfan engineers recently | inspected factory practices of motor car manufacturers in Detroit. . RODUCTION UP. K, January 19 (#).—Oil in Venezuela duri 0IL NEW YOI production 4 | cember increased to 4,088.2 | last week | Unton Pac 1t rf 4a from 3.636,400 in Novembe: | month’s shipments were 3,04 | rels, against One of the largest ord pipe in months is a contra tons placed with United Iron Pipe and Foundry b; can Light and Traction Co various subsidiarie: N ALUMINUM PRICE CUT. NEW YORK, January 19 (®).—The Aluminum Co. of America has reduced ingot prices 1 cent a pound. for 30.000 tates Cast the Ameri- for its COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY NEW ORLEANS, January 19.— Orders at Southern Pine Association mills increased 27.9 per cent in_the to 62,529,000 feet. Ship- ments advanced 11.9 per cent to 62 000 feet and production rose 6.2 to ,758,000. Unfilled orders total 196, 908,000 feet. McFARLANE, Calif. — The Call- fornia Packing Corporation is now prepared to advance funds to a num- ber of the peach growers of this dis- trict for the purchase of trees at 7 per cent interest, agreeing to deduct interest from payments for delivered | fruit. SCHENECTADY.—According_to ‘a statement today from Gerard Swope, president of the General Electric Co., price reductions in the last year on General Electric products have result- ed in an annual saving of $12,000.000 to customers on the basis of the 1926 sales volume, as a result of eggnomic manufacture and cost reductioa. an 92 99% 109 101% 103% 104% 92 6 100 2 101% 101% 103% 103% 99t 994 22 104% 10:% 7 104% 104% 24 79 8% 4 99% 99% Union Pac 4s 27 Union Pacific ov 6s virginia Ry 1st bs. VaRy &P