Evening Star Newspaper, February 2, 1927, Page 14

FINANCIAL RAILS TAKE LEAD IN STOCK MARKET Loree and Van Sweringen Merger Roads’ Shares Dom- inate Trading Today. BY STUART P. W/ Bpecial Dispatch to The Star. NEW YORK, February 2.—Raflway shares dominated the stock market to- day and held the center of speculative interest. Shares of roads involved in the proposed Greater Loree Lastern Trunk Line, the Van Sweringen Nickel Plate issues, Chicago, Rock Island and Pacific and St. Louls and San Fran- cisco, became increasingly active and their strength overshadowed almost everything else that happened. It could not have been said ti the placing of Rock Island on a regular annual $5 basis came as any surprise to Wall Street. It was evident that the market for some time past had absorbed an enormous amount of the stock with the possibility of a $5 an- nual rate in mind, and the matter of most concern now appeared to be what Rock Island was worth in the market @s a regular $5 dividend payer. Because of St. Louis-San Francisco's holdings of Rock Island the dividend was thought to be equivalent to $2 a share for the latter company and the market for this stock went along with Rock Island. ‘Western Maryland Rumor. Wall Street had a report that nego tiations for the sale of the Rockefeller holdings of Western Maryland had practically been arranged. Where con- trol of the road will eventually rest, however, appeared to make little differ Maryland issues d under the same sort of buying noticeable for the past few days. It was significant that Bal- timore & Ohio should have risen sharp- iy accompanying these rumors. Erie * jssues bore their share in the improve- ment, while Pere Marquette, another * line which heretofore had been expect- / ed to play a prominent part in the Van Sweringen greater Nickel Plate system { was bid up sharply. Tt was natural that strength in mer- ger rails should have told eventually upon the market for others of the group. New Haven apparently was bought on its earnings basis alone, and its strength had a sympathetic influence upon New York, Ontario and ‘Western. Lehigh Valley, Norfolk and ‘Western, New York Central and Atchi- son were in urgent demand. Others Carried Along. Prominent industrials of the type of United States Steel and General Motors were carried along with the rails, but they did nothing note- worthy. Colorado Fuel and Iron con- tinued to be influenced by prospects of early dividends. Pressed Steel Car, which for several weeks has been re- Oven High Low Close 844 844 10% - 10% Abitibi Pow (5). Adv Rumiey. ... Adv Rumley pf. Ahumada *6uc). Ajax Ruber..... Alaska Junea. Allied Chem (6 Allis Chalm (8) Amal Leather. Amal Lthr pf(7 Amerada (2) .. Am Agricul Chm Am Bank N (2). Am Beet Sug pf. Am Bosch ..... Am Brake Sh(6) Am Br Rov Bl(2) Am Br Bo pf (7) AmCan (2)..... Am Can pf (7).. Am Car&Fdy(6) Am Chain A'(2). Am Drug Am & For Pow. . Amé&Fo Po pf'7) Am Ho P(240).. Am Ice (110)... Am Internatl... Am La Fr(1). AmLinseed. . ... Am Linsd pf (1) Am Loeomot /8) Am Mach & Fdy Am Metals (3).. Am Po & Lt 11) Am Ry Exp (6). 94 Am Radiator(5) 111% 111% 111% 111% Am SafetyR(13) 51 51% 51 5IM Am Ship& Com. 5 5 4% 4% Am Smelting (8) 141% 142% 139% 141% AmS&Rpf(7). 122 122 122 122 Am Snuff (12).. 122% 124 122% 124 AmStlFdys (3) 45 45% 45 4b% Am Sugar (5).. B81'% 82 81% 82 Am Sumatra.... 44% 451 44% 45% Am Tel & Tel(9) 153% 153% 153% 153% Am Tobacco (8) . 1224 122 122 1221 Am Tobacco B(8 121% 122% 121% 122 Am W W (c1.60) 64% 66 64% 65% Am Woclen 264 26% 264 26% Am Wool nf (7). 80% B80% 804 80% Am Zinc pf. . 46% 4T 46% 4T Anaconda (3) 47 4% 46% 4T ArmourDel pf«7" 95% 95% 95% 95% Armourof I1I(A° 14% 14% 141 143 Armourof II(B) 7% 7% 7% % Artloom (3).... 50 50% 50 50% Art Metal (t115) 22% 224 22% 224 Asso Dry G(215) 40% 40% 40% 40% Atchison (+7%). 163% 166% 163% 163% Atchison pf (5). 101 101 101 101 Atl Birm & At.. % 1% 5 Atlant CL (18). 187% 188% 186 AtlGuit & WI.. 38 38% 3T Atlantic Refing. 113% 113% 111% Atlas Powder(4) 61% 61% 61% Austin-Nichols.. 84 8% 8 Raldwin L (7).. 152% 152% 151% Balto & O (6)... 109% 111% 109% Balto & Oh pf(4) 74% Td% T74% Bang & Ar (3).. 51% b51% 51 Barnsdall A (2). 32% 33 824 Barnsdall B (2). 29% 29% 20% Bayuk Cigars 50% 50% 50% Beech-Nut (13). 57% 57% 57% Belding Bros(3). 23 23% 23 Bethlehem Steel 45% 45% 45% Beth StIpf (7).. 108 108% 107% Bloomingdale 39% 39% 39% Bon Amt (4). 54 54 Booth Fisheries. 6% 6% Briggs Mfg (3). 30% 31% 30% Bkin-Edison (8) 152 152 151% Brown Shoe (2). Brunswick B(3). Brunswick Ter. Burns Bro (10). 1% 1% 1% 136', 137&- 136% nsv, Tou 0w 19w 18% 105% 106 105% 106 35 36 84% 34% 125% 124 12% 12% 4T 48% 4TH 48 BY. “&7 BT BT 4% 14% 14% 14% 141% 141% 141% 141% 35 854 35 364 97T% 9T 97 97 45% 48 4B% 48 128 128 128 128 101 101% 101 101% 27w 2% 27 27 104 10% 10% _10% 19% 19% 19% ~19% 88 88 87% 8Th 31 31% 31 31% 120% 120% 120% 120% 39% 38 39% 8% 8% 8% 23 22% 22% 604 60% 60% 108% 107% 108 9% 79 79% 42 42 42y 58% 58k BRU 584 94 94 94 152 110% T4% 51 33 29% 50% 57% 23% 45% 1% 1% 11% 115 116% 115 sponding to reports that negotiations were in progress for a merger with related companies, was offered freely following publication of earnings for 1926, which disclosed a net loss of $620,803 after depreciation. Oil shares were higher, but no at- tempt was made to bring about a general upward movement in this quarter, Houston Oil increased its gain, but the demand was less pro- nounced, Declaration of an extra 12lc dividend on Standard of California was reflected in somewhat higher prices, while Marland and Barnsdall continued in demand. — SETTLE WAR CONTRACTS. Attorney General Sargent has an- nounced that the work of recover- ing on war-time. contracts and other transactions in which errors had been made against the Government was practically completed. Within the next few months these cases ‘will be closed, although some details may not be cleaned up until after July 1. laims aggregating $2,251,950 were ted from 10 firms last year, bringing the total since 1922 to $12.. 946,472. The largest collection was from. the Wright-Martin Alrcraft Association, which paid $1,184,585. Pt BUTTER UNSETTLED. CHICAGO, February 2 (#).—Butter «—Unsettled; receipts, 5,773 tubs; creunery extras, 49%a49%: standards 1; extra firsts, 48%a48%; firsts, umcm‘ seconds, 44ad45%. Eggs—Higher; receipts, 6,331 cases; firsts, 33a33%; anilnlry firsts, 31‘&33"’ CAR LOADIIGS LIGHTER. Freight loadings during the week ending January 22 totaled 942,587 cars, the American Railway Asso- ciation reported today,.a decrease of 7,458 under the preceding week, but an increase of 20,944 over the same week last year. EQUIPMENT ORDERS. NEW YORK, February 2 (#).— Railroad equipment orders in Jan\mrv ‘were 62 locomotives, .14 passenger cars and 17,200 freight cars, against 64 locomotives, 217 passenger and 11,631 freight cnrs in January, 1926. COTTON GOODS LOWER. NEW YORK, February 2 (Special). ~—Cotton ‘goods markets were dull to- day and prices slipped off l4c at the quotation of 6%c for 64x60 print cloths. The s\undam 68x728 were unchanged at 7%c. Raw silks were quiet at unchanged prices. —_— GERMAN BONDS AND STOCKS. (Quoted in doliars per mmmn rnzrkl) ed o 9t L) Go 101418 "mm oo "um oo 1a hnar Rendors FEDERAL LAND BANK B NLs (Quoted by Alex Brown & Sons Closing.) Ruve—Matur.y Asked" “Held 19! 100 B i oA 1 1 ) 1 SAARBARARRADY TREASURY CERTIFICATES. (Reported by J. & W Belllmfigofi.(lu.b Ral lQ—"ll\ll’ ty. Bush Terminal. Butte Cop (50c). Butterick (m2). Byer & Co...... By-Products (2) Calif Packg(4).. Calif Petrol(2) Callahan Zine... Calumet&H(1%) 16 16 16% Can Dry (c2%). 38% 38% 384 Can Pacific (10). 169% 177% 169% 118‘41 Canada Sou (3). 59% 59% G59% 59% Car Cl&Ohio(3). 8 8 8 85 Case Threshing. 137% 137% 136 136 Central Alloy(2) 26% 26% 26% 26% Cent Leather 9% 9K 9% 9% Cent Leather pf. 57% 57% b57% 574 Cent Lea pf ctfs. 56l 56% 56 56 Cen'Ry NJ(+12) 201 201 291 291 Cerro dePas(15) 61'a 62% 61% 62% Certain-Teed(4) 43% 44 43% 44 Chand-Cleve.... 10% 10% 10% 10% Chandler pf(235) 281 23% 23% 23% Ches & Ohio (8). 154 158 154 158 Chi & Alton. . 6% % 6% U 35% 37 3% 4 4 K b55% 57 55% 47% 48 46% 68'% 68!y 68% 66% 6615 66% 31% 31% 31% 1% 1% 1% Chi & Alton pf.. 10% 11 Chi & East I, .. 32 33 Chi& Bast Il pt 46% 48 46% 47 Chi Great West. 10% 124 Chi Gr West pf, 27% 29% C M&SLP pf cfs. Chi & Nwn (4).. Chi & Nwn pf(7) 131 Chi Pne Tool (6) 132% 133% ChIR1&Pac... T6% 76% CRI&PDL(6). 97 974 CRI&Popf (7). 106% 106 ChiStPM&O.. 66 66 C StPM&O pf(5) 111 111 Childs (12.40)... 51 b1% ChileCop (2%). 35% 36% Chrysler Corp(3) 40% 41% Cluett Peab (5). 65 65 Coca-Cola(7%). 169 169% Collins & Atk(4) 69% T0% Collins&A of (7) 139% 139% Col Fuel & Iron. 53% 54% Col Glflh Bl (5) MV: 86% Col Ga: ] Col G&E DfA'G) 100 100“ 100 Col Carbon (4).. 76 77 76 Cop Credit (1).. 16 15% 15 164 Com Inv (3.60).. b5d% b4% 54% 54% Com InTrpf6% 91% 91% 91% 91% Com Solv B (8). 243% 243 241 242 Congoleum N... 17% 18 17% 18 Con Cigars (7).. 79% 83 9% 83 Con Cigars pf(7) 102% 102% 102% 102% Congress Cgr(3) 53% 53% 53% 534 Consol Distribut 1% 1% 1% Consol Gas (5).. 100 101 99% 101 Cons Gasrts. % W 4 Cons Gas pf rts. ConRRCuba pf 6 Consol Textile. . ll"/i 189% 53% 53% 84% 85% 2% 2% Cont Buk pf (8). Cont Can (5) Cont Insur (6). Cont Mot (80c)., Corn Prod (123} prin Coty, Inc (5)... 61 Crucible Steel (6) 79 Cuba Cane Sugar 10% Cuba Cane Su pf 48% Cuban Am S (1). 26% Cuba Co (4).... 29 Cudahy Pkg (4). 524 524 Cushmans (p4) . 106% 106% Davsson Chem. . 284 28% Deere&Co pf(7 108% 108% Del & Hud (9) .. 174 175% Del L & W (7). 141% 143% 141% 143 DRG Wstpf... 49 49 50% Detroft Ed (8).. 135 135 1354 Devoe & R(240) 41% 42% 41% 41% Dodge BrosCl A 25% 25% 25 25% Dodgepf (7)... 83% 83% 831 83% Dome Mines (2) 9%. 9% 94 9% DulSS&Atan. 4 5 4 5 DulSS&Atipf. 6 T4 7 Du Pont (7).... 1124 176 1724 176 Du Pont deb 106% 106% 106t 106% Duquesne pf (7) 115% 115% 115% 115% Eastman (18)...129. 129 129 129 Eaton Axle {2).. 264 26% 26% 26% Eisenlohr & Bro. 12% 124 12% E! AutoLt(t6%) 66 67 66 Electric Boat... 14% ElecPower & Lt 16% 17% 16% 174 104% 104% 6% 96% 12% 26% 2 29% 52% 52% 106% 106% 28% 28% 108% 108% 174 176 EP&LDL 40% (7) 104% 104% Elec P& Lpf(7) 96% Elec Refrig (2). Elec Sto Bat(16) Elk Horn. Bnd-John (5). Engineers Pub S En:n!;- PS pf(7) Erte Lst pf. Erle 2d of. Erje Stm S(2%). Eureka Vac t4% 63 Fairbanks (3) 404 Famous Pl (J8). 110% lll‘\ Fed L&T(n1.40) 40 40 Fed Min pf (7).. 76% Fed Mot T(f80c) 28% Fid Phoenix (4). 94% % lll!‘/a ll}.h 70% 28% 9% First NatS(1%) 29% 29% 20% 29% Foundation (8). Fox Film A (4). Freeport Tex (2) Gabriel Sn (3%) Gen Am Tk (3) Gen Asphait. ... Gen Cigars (4), Gen Elec (h3). . Genklec sp! i) Fen ( Gen Gen Motors (7). Gen Mot pt (7). Gen Outdr Ad(2) Gen Ry Sig (5).. Gimbl Br pf (7). Glidden () Gold Dust...... Goodrich Ru (4) Goodvear pf (7). Goodyr pr pf(8). Gothm S H(z1%) Gotham new 21, Gotham 1st (7). Granby Consor. . Grt North pf (5) Gt NrOre(t1%) Grt Westn Su (& Gt West 8 pf (1) Green Canan. Guantanam Gulf Mo & Nor. Gu M & N pf (6) Fulf States (5. Hartman A (2).. HartmnBKk4.40) Hayes Wheel. .. Helme G W (17) Houshld P (3%) Houston Ol. ... Howe Sound (4). Hud Man (234). Hudson Mo(3%) Hup Mot (1.40). 11linois Cen (7). 11l Cent pf (6).. Indep O1l (1)... (ndian Refining. IndianRefg otfs. Lnland St (2% ). Interboro Rap Tr Intcontl Rub(1). Internat Agrl Int Bus Ma (3). Int Cement (4).. Int Com Eng (2) Int Harv (§6)... Inter Har pf (7). IntMtch pf(3.20) Int Mer Marine. Int Mer Mar pf. Int Nicke) (2)... Inter Nick pf (6) Int Paper (2)..+ Int Paper pf (7). Int Tel & Tel (8) Towa Central. ... Island Crk (24). Jewel Tea...... Jordan Motor... Kan City South. KayserJ (4).... Kayser pf (8)... Kelly-Spring. .. Kelly-Spring pf. Kelsey Wh (6).. Kennecott C (5). Keystone T & R. Kresge SS(1.20) Kress SH(1)... Laclede Gas rts. Lago OlI&Tran. . Lambert Co (5). Lee Tire & Rub. Lehigh Val(3%) Lehn&Fink (3). Life Sav (1.60). Liggett & M(f4) Lig&MB (f4). . Lima Loco (4). Liq Carb (3.60). Loew's Inc (2).. Long Bell A (4). Loose W 1st (7). Lorillard (38) Louisiana Oil. .. Louis & Nash(7) McCrory(11.60) . McCroryB(11.60) Meintyre P (1). Mack Trucks (6) Macy HR & Co.. Magma Cop (3). Manati Sugar... Man El Sup (5). Man El m g (d5). Man Shirt (1%). Maracaibo Ofl Market Street Market St prior. Marland Ofl (4). Marln Rock t2% Martin-Pary(2). Mathieson (4)... May Dept S (4). May Dept Srts.. Maytag Co (2).. Mexican Seabd. . Miami Cop (1).. Mid-Continent. . Middle States... Miller Rub (2).. Minn & St Louis. Minn & St L ct.. Min St P & SSM. M St P & SSM p: Mo Kan & Tex. . Mo K & T pf (6). Missouri Pacific. Missour! Pac pf. Montana Pow(5) Montgmry W (4) Moon Motor.... Mothr Lode (75¢ Motion Ple(1).. Motor Met(3.60). Murray Body(n) Nash Motor (4). Nat Biscuit (5). Nat Cash R(A)3 Nat Cloak pf (7). Nat Dairy (3)... Nat Distillers. Nat Distillers pf. Nat Enamel & 8. NatPw&Lt(80¢). Nat Ry Mex 1st Nat Ry Mex 2d. Nat Supply (4). Nevada C (1%). NY Air Brake(2) NY Central (7). NY Chi&StL(11) NYC&StL pf(6). NY NH&Hart. .. NYOnt& W 1) NY Rys part cfs NY State Rys pf Niag ¥ pf (1%). Norfolk Soutn. . Norf & W (8)... NthAm b10% stk North Am pf(3). NorAm Ed pt(7) North Pac (5) Otis Elevator (8} Otis Steel....... Owens Bot (7).. Pac Coast 1st. .. Pac Gas&El new Pacific Gas rts.. Pac Ol Stubs. .. Packard (12.90). Pan-Am B (6).. Pan-AmWnB(2) Panhandle...... Park Utah (60¢) Pathe Ex (¢3).. ) Penna R R (3%) Penn-Seab Steel. Peoples G Peorla & East... Pere Marq (18). Pere Marq pt(5) Phila Co pf (3).. Phila& RC& 1. Philip Morris Phillips Pet (3). Plerce-Arrow... Plerce-Ar pt (8). Plerce Qil.. Plerce Petrolm Pitts & W Va(6) Porto Rico Tob. . Postum (5) Pressed Stl Pr St Car pf (7) Prod & Refiners. Producers&R pf. Pub Serv NJ (2) Pub SE&G pf(6) Pullman Co (8).. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Low Close 16% 16 T9% 49 8 40% 44% 57% 21% 21% 123% 125 126 126 .ll‘4 21% 123'5 3| 4l 44% 12% 141 143% 127% 12T% 6% 664 19 19 44% 45% 556 55% 119% 120 10% 10% 35 35 80 80 61% 61% % % 49% 494 60 6 5% 5% 22t 22% GG‘& SB% 1 l&% lll!‘& 36% 22% 9% 99% 139% 141% 189% 190% 104 104 48% 49% 28% 31 18% 13% 3T 37% 28'% 28% 39 40% 168% 163% 46% 48% 0% 50% 98% 99 83% 84% 103 103 % Th 8% 79 55 27% 37 67% ke ke 128Y% 128% 26 25% 122% 124% Y% 91 9% 42 3% 3% 134 134% 80 80 985 98% 3 4 81 81 26% Za‘h 49 34 33% 384 103% 108% 103% 108% 186 187% 186 187 D. C., WEDNESDAY, FEBRUARY 2, 1927 WASHINGTON & OLD DOMINION LINKED WITH BIG RAIL MERGER D. & H., Western Maryland, Lehigh and Wabash Among Lines Mentioned in Con- nection With Plan Before L. C. C. BY EDWARD (. STONE. The name of the Washington and Old Dominion Railway is now being linked with a possible fifth trunk line system between New York, Chicago and St. Louls, the proposed rail merger involving a capitalization of more than $1,000,000,000. The Western Maryland is also mentioned in the deal, and the application for the cunsolidation is be- fore the Interstate Commerce Commis- sion. The idea was first presented by L. ¥. Loree, president of the Dela- ware and Hudson, and today is given the support of F. J. Lisman, a New York banker, who has prepared a complete analysis of the proposals. Mr. Lisman, who was in Wasnington vesterday, believes that the railroads in the consolidation would together vield gross earnings of $350,000,000 & year. He also finds that such a com- binaticn would be 50 miles shorter than any present throngh line to Chi- cago and 30 miles shorter to St. Louis. If the new line becomes an actuality it will compete’ with the New York Central, Pennsylvania, Baltimore and Ohio and the projected Van Sweringen system. The Delaware and Hudson, Lehigh Valley and the Wabash are among the big roads which would join tle new system. It is understood that a connecting link would be built between the West- ern Maryland and the Washington and Old Dominion. The Washington and Old Dominion would not only give access to Washington, but, what rail- road men consider much more im- Punta Aleg Sug. “” Pure Oil (12). Purity Bak B( Radlo Corpof A. RadioCpf (3%). Reading (15). Real Silk Hot Remington Type Replogle Steel. . 44 29 3% Rep Ir & Stl (4). Rep | & Spf (7). Rey Tobac B(5). Royl D(al.33%). Rutland pf (1).. Safety Cable (4) St Joseph L(t3). StL & SanFr (7) StL&SanF pf(6) St L Southwest. St L Swn pt Schulte (3%). .. Seaboard Air Lin Seab Air L pf... Seagrave(el.20) Sears-R (n 234)., Shell Un (1.40). . Shubert The (5). Simmons (2).... Simms Pet (1) Sinclair Ofl. Sinclalr pf (8) Skelly Oll 12)... South Port S ( Sou Calit Bd (2). Sou Dairies Ac4) Sou Dairjes B, .. South Pac (6)... Southern Ry (7) South Ry of (5). Spicer Mfg. .. Std Gas & E1'g3. 8td G & El pf(4) Std Oil Cal(2%). StdOiINJ (1).. Std Ol NJ pfe7) Std 01l NY(1.60) Std Plate Glass. SterlingPro(16) . Stewart War (6) Studebaker (6). . Submarine Boat. Superior OI1.. Sweets of Amer. Telautogra (60¢c) Tenn Copper (1) Texas Corpn (3) Tex Gulf Sul (4) Tex & Pacific. .. Tex PC&O(60c) . Tex Land Trst n Thompson (3.60) Tide W Oil pf(5) Timken (15).... Tobac Prod (7). Transcont Ofl... Transue & Wil... Twin City (8)... Underwood (4) .. Unilon Carb (6). Un Oll Cal(2%). Un Pacitic (10). Un Pacific pf(4) Union Tank (5). Utd Cigar S(c2). Utd Drug (¥)... 1 UtdDrg 1st(3%) United Fruit (4) Utd Paperboard . USCIP&F(10) U'S Distributing U S Hoff (13%). 8 Alcohot (5). Realty (4).. Rubber-..... Rub 1st (8). Smelt (3%). Steel (7)....°1 Steel w1.... U S Steel pf (7). U S Tobacco(3) .. Unl Plc 1st pf(8) Universal Pipe. . Utl P&Lt A (e2) Vanadium (3)... Vick Chemical. . Va-Caro Chem. . Va-Car Ch pf (7) Victor Tk Men, Vietor v pf (6). Victor pr pf (7). Vivadou (3).. Wabash. ... Wabash pf A(5). Wabash pf B. Waldorf (1% ) Walworth (1) Ward Bak of (7) Warner Pic A... Warren Bros(4) . Weber (4)..... West P Po pf(1) West Maryland. West Md 24 pf.. West Pacific. .. . West Pac pf (6) - WesthseAirB(7) Westinghias (¢), ton Blec Wheer & L grl Wheel & pL. white agle (2) White Mot (4) White S M (q2). Wickwire cL: Willys-Overiand Willys Od pf (7) Wilson & Co.... Wilson & CotA). Wilson&Co pf(7) Woolworth (5).. Worthn Pump. . Worth Pump(B) Wright Aero (1) Yale & Tne (1).. Yellow It 1760). Yel Tr&Co pf(7) Youngstown (4) Hourly Sales 1la.m 522,100 ccoodcac wULER®n on N. Y. Market. 12n.. 826,900 1p.m.1,011,800 2 p.m. 1,289,800 Dividend rates a8 elven In the sbove ..ble B "““r;. aa*".??."-:‘z,':"' &f‘ 3 PTu- 1% u, .m&" stock. S Caab ’e.‘lus"' g al",lf';-a "-“!E ff stock. Dl’ln"‘?: g‘“ E lus one-halt of common s portant, it could easily be connected with the Potomac frefght yards. Of- ficials of the local railroad were not prepared today to discuss the pro- posed merger. Negotiations have ap- parently not reached any advanced stage. Several of the recent merger proposals have been so visionary that they were not worthy of any serfous consideration. The " action of the I. C. C. on this application will show how serious this latest move really is. Barber & Ross Issues Listed. The board of goverors of the Wash- ington Stock Exchange today listed the recently issued stocks and bonds of the Barber & Ross Co. It was voted to list for trading tomorrow 50,000 shares of the company common stock, no par value. The total issue 000 shares, and this is all out- standing. It also was voted to place on the board $1,000,000 Barber & Ross 10-year 6% per cent sinking fund gold bonds dated January 1, 1927. Both of these issues were brought out when the company was reorganized a few weeks ago. The present officers of the company are: Samuel Ross, chairman of the board; Harry Blake, president; J. H. Johnson, jr., vice president; Joseph B. Thomas, second vice president; T. E. Rhodes, treasurer, and H. L. Light, secretary. Local Exchange Very Active. Trading on the local exchange was very active today and prices remained firm. Capital Traction maintained its price of 10415, Potomac Power pre- ferred came out at 109% and Peoples Drug Stores preferred at 109. ‘Washington Gas opened at 69%, dropped an eighth and advanced to 69% at the close, sales reaching 90 shares. Railway and Electric pre- ferred opened at 907 and closed at 91. Merchants’ Transfer came out at 101% and Federal-American Co. com- mon at 33%. Forty shares of Commercial Na- tional Bank sold at 233. District Na- tional made a new high at 241. American Security and Trust stood av 272, within a point of the high this year, and 50 shares of Continental Trust changed hands at 107. There were two sales in Merchants’ Bank and Trust at 15032 and 10 shares of :((‘g‘;'! National Bank came out at 7 ‘While there have been no sales, it - is_very interesting to note that the asked price on Washington base ball stock has gone up some 10 .points since Tris Speaker was signed to play with the local club. Land Bank Bonds in Demand. C. F. Childs & Co. reported today that there is an excellent demand for the new $500,000 issue of Potomac joint stock Land Bank bonds, which were placed on the market yesterday. These bonds are priced at 103% and accrued interest. Every <issue that the local joint stock land bank has offered has been quickly absorbed. Alexander Brown Moves. Alexander Brown & Sons opened for business today in their new and en- larged quarters, at 737 Fifteenth street, having changed from their H street location in order to get more room. They are stll in the Wood- ward Building, however. The Washington office is in charge of A. R. Stewart, manager, his staff including Lawrence M. Proctor, Mar- shall O. Exniclous and Lee P. Warren. The investment banking firm was organized in Baltimore 127 years ago and now has about 1,000 offices or banking connections, all over the world. Winston Now Bank Director. Garrard B. Winston, whose resigna- tion as Undersecretary of the Treasury became effective this week, was elected a director of the National City Co. yesterday at a meeting of the board to fill the vacancy caused by the death of Ralph Crews. Mr. Winston is joining the New York law firm of Shearman & Sterling, counsel for the National City Bank, of which Mr. Crews was also a member. Must Pay R., F. & P. $259,000. ‘The city of Richmond must pay the Richmond, Fredericksburg & Potomac Railroad Co. $259,000 and 4 per cent interest from October 1, 1920. The Virginia State Supreme Court has de- nied the city a writ of error in its ap- peal from the judgment of the Law and Equity Court of Richmond which awarded the railroad company that amount and which it held was the city’s share in the cost of depressing the belt line tracks here and other work incidental thereto. Other Financial Notes.’ Norfolk Southern Railroad earned $5.08 a share in 1926 against $3.20 a share in 1925, net income of $813,577 tf:omnnrmz with $512,523 the year be- fore. Loew’s Inc. reports operating profit of $2,178,636 for the 12 weeks ended November 21, 1926. From this was de. ducted $879,485 for depreciation and taxes, leaving profit of $1,299.151. January sales of Sears, Roebuck & Co.. were $22,080,174, against $22,590,- 905 in January, 192 RUBBER DECLINES. NEW YORK, February 2 (Special). —Crude rubber, smoked ribbed sheets declined %c at today’s noon quota- tion of 37%c. This compares with 39c a month ago, and 67%c a year ago. CALL MONEY STEADY. NEW YORK, February 2 (#).—Call money steady; all loans, 4; closing bid, 4. Time loans steady; mixed collateral 60-90 days, 4%; 4-6 months, 41; prime mercantile paper, 4a4%. FOREIGN EXCHANGE. ‘Quotations turnist W B Hiovs & co.) hyOminal checks London, und. uunu-l 30 Stocknotm, erown NEW YORK, Februau 2 ). eign exchanges steady; quotations (in cents)—Great Britain, demand, 484 11-16; cables, 485 1-32; 60-day bills on 480%. France, demand, 3.93; 3.92‘/& Italy, demand, 4.27 4, Demand«Belgium 13.90; Germany, 23.70; Holland, 39.92%; Norway, 25. Sweden, 26.67 Denmnrk 26.64; Switzerland, 19.23%; Spain, 16.8 Greece, 1.32%; Poland, 11.75; C: slovakia, 2.96; Jugoslav] Austria, 14. 12¥§v Rumania, .! gentina, 41.37%; Brazll, 11.87%; 48.87%; Shanghai, 66.00; Montreal, 99.843. — To provide funds for taking over Nicholson Universal Steamship Co. from the Nicholson Transit Co., the United States Freight Co. has author- issuance of the remaining 15,288 treasury shares of stock, bringing the total share capital of the company, au: thorized and outstanding, up to 1 shares, o i A (e BONDS ot ] Received by Private Wire Direct to The Star Offica. UNITED STATES. (Sales are 10 $1.000.) Sales. High. Low. 3:10. Lo 34 101 12 101 11 101 11 20 1039 1038 1038 Lib2d 4%s. 128 10020 100 18 100 18 Lib3ds%es 83 1017 1016 1016 Lib4th 4% s 403 103 26 103 25 103 26 US3%s... 21 10325 10325 103 25 TTS4s1944. 1 10620 106 20 106 20 US4%s52. 13 11022 11021 11021 FOREIGN. Sales. Bluh Low. 3:10. 9% 914 98% 98% 981 98t 984 3% 99% 99 99% 98% 98% 984 9TH 9Th 98 96 00% 100% 100% 7% 9% 101% 101% 106 106 103% 103% 112% 112% 108% 108% 104% 1043 97 9% 9% 954 9815 98% 107% 107% 101% 101% 104% 104% 101% 101% 100% 100% 108% 108% 108% 109 29 2 9 99 99% 09% 105% 106 108% 109 107% 107% 110% 110% 110 110 104% 106% 102% 102% 95% 95% 100% 100% 105% 105% 103 103 110% 110% 109% 109% 108% 108% 105% 105% 94% 94% 964 96% 104% 104% 964 96% Argentine5s...... Argentine 6s Ju 69, Argentine 6sOct59. Australian Bank of Ch! Bank of ey Belgium 7s. . Canada §s 1931.... Canada 5s 1952, Canada 5%s 1929, Chile 7 1943 . Chile 88 1941 Chile 8s 1946 Chinese Gov Con Pow Japan 7s. Copenhagen 5%s. . Czecho 7%s rets. Czecho 8s 1951... Czecho 88 1952 ct.. 22 Danish Munic 8s A. Danish Munic 8s B. Framerican 71s. French 7s.... French 7%s French 8s. Georman 7s. . B Ger Gen Elec 7s. . Greek 78........c0 Holland-Amer 6; Hungary 7% Italy 7s. Japanese 4s. Japanese 658, 4 Jergens U M 6s 47. Lyon 6s. Marselile 6s Mexico 4s 04 asntd. Mexico 4s 10 asntd. Mexico §s asntd Montevideo 7: Netherlands 68 Netherlands 6s 72 91% 924 101 101% 1056 106% % 97 98% 7 31% 31% 25% 26% 44% 4% 101% 101% 103% 103% 107% 107% 9% 9Th 100% 100% 101% 101% 101% 101% Norway 6s 1943 Norway 6s 1944 Norway 6s 1952. . Orient Dev deb 6s. Parls-Ly-Med 6s.. Ly Med 7 100% 100% 100% 100% % 101 101 104% 105 83% 83 95% 95% 105% 105% 105% 105% 112 112% 125 125% 104% 105 104% 104% 104% 104% 108% 108% 104% 105 106 106 103% 108% 101 101 101% 102 964 964 104% 104% 103% 103% 113% 113% 99 Rio de Jan 85 1946. Rio de Jan 88 47 Rio Gr Do Sul 8s. Sao Paulo City 8s. Sao Pauld 8s 1936. . Sao Paulo 1950 1 Saxon (PW) T Seine 7s 42. Serbs Crot Slo 8 Sotssons 6s. Sweden 6s Swiss 5%s 1946 Swiss Confed 83 Toho Elec Pow 7s. 99 9% 117 17% 105% 105% 109 109 Yokohama 6s w B 3‘ 96Y% 965 MISCELLANEOUS. Am Agri Chem 7%s 7 104% 104% 104% Am Cotton Oil 5: 3 954 95% 95% Am Repub deb 6s. 4 99% 994 99% AmSmit& R1st5s 7 101% 101 101% Am Sugar ref 6s,,. 38 104% 104'% 104% AmT&Tcltrés 3 99 98% 99 AmT&T cl tr 5s. 4 103% 103% 103% Am T & Tsf 5s..... 50 102% 102 1024 Am T & T delr§la, 61 106% 106% 106% Am Water Wksbs. 7 98% 984 98% Anaconda 1st 6: 18 104% 104% 104% Anaconda cv db 40 107% 107% 107% Andes Cop 7s rets.. 17 107% 107% 107% Armour&Co4%srf 7 92% 924 92% Armour Del 5 41 95% 95% - 0% Atlantic Refin 5s... 3 102% 102% 102% Barnsdall 6 ctfs.. 144 106% 106 106 Bell Tel Pabs B... b 108% 103% 108% Bell Tel Pa6sC... 18 103% 103% 103% Beth Steel pm 5 98% 99 Beth Steel rf 5s, . 100% 101 Beth Steel 5% 13 99% 99% 99% Beth Steel 6s. 26 102% 102% 102% 8 110% 110% 110% 6 104% 104% 106% 5 81% 81 81 105% 105% 2 102% 102% 102% 10 99% 98% 98% 31 101% 101% 101% 2 98% 981 981 20 102% 1028 102% 4 108% 1084 108% 19 94% 94% 94% 96 9 2 96 6 9 106 105% 106 2 1075% 107% 107% 22 109 108% 108% 3 115% 115% 115% 16 107% 107 107% 12 110% 110% 110% 22 121% 120% 121 13 102% 102 - 102 8 102% 102% 102% [ilinols Bell 1st 63 108% 103% 108% Int Mer Marine 6s. 198 99% 98% 99 27 98% 98% 98% 19 102% 101% 101% 2 109% 109% 109% 1 108% 108% 103% 4 105 104% 105 3 104% 104% 104% 1100 100 100 1 100% 100% 100% 2 104% 104% 104% 6108 103 103 2 100 100 100 5 106 105% 106 9 105 105 105 3 101% 101% 101% 13 89% 894 89l 9 103% 103% 103% 1 108% 108% 103% 7 115% 116% 116% 2 106% 106% 106% 3 98% 98% 98% 9 108% 108% 108% 5 110% 110% 110% 39 106% 106% 106% 31 106% 105% 105% 7 95% 95% 95% 3 100% 100% 100% 1 106% 105% 105% 14 100% 100 100 8 1024 102% 102% 1 102% 102% 102% 1 105% 105% 105% 5 102% 102% 102% 1 103% 103% 103% 3 101% 101 101% 4 106% 106% 106% 40 106 104% 105 Public Serv Elec 68 11074 107% 107% PServGas6%s59. 1 105% 105% 105% Stnclatr O1) 6: «. 28 101% 101% 101% Sinclair Ol 645s.,.390 102% 101 102 Cuba Cane cv 7s. Cuba Canecv 8s Denver Gas 5s. .. Det Edison 5s 40. Duguesne Light 5. Fast Cuba Sug 7%s Empire G & F 7%s. KanG & El 68 52... Kelly-Spring 8s. Lackawa S 5550..." Lacl G ref ll...s.zu New Eng Tel 5s... N Y Edison 68 44.. N Y Edison 6%s. n Y G EL H&P 5s. Peoples Gas 6s. PhilaCorfésA... Phila& RAC& 16s Plerce-Arrow 8s. .. Public Service é: 20 Stand OI NJ Sswi 76 1024 102% 102% Sug EastOrtent 7s. 3 99% 99% 99% Tenn Elac Pow 6: 5 105% 105% 105% + 15 108% 108 108% 3 107% 107 107% 22 96 95% 5 106% 106% 106% 20 107% |01k ld'lh 98% 98% 11 103% 108% FINANCIAL. Sales. High. Low. 3:10. 3 102% 102'% 102% 1112 12 112 11 102% 102 102% Wilson & Co 1st 6s. 21 102% 102% 102% Youngstn S&T 6 48 104% 104% 104% RAILROAD. West Elec b Westn Unio Westinghouse 5: 94% 94% 94% 104% 104% 104% 81% B81% S1% 94% O4% 94% 98% 98% 984 101% 101% 101% 101% 101% 101% 106% 105% 105% 103 102% 102% 108% 108% 108% 102% 102% 102% 83% 83% 83% %% 79 % 99% 98% 98% 96% 96 96% 99% 99Y% 99% 115% 115% 115% Atlantic C L 1st 4s. AtlantleCL 7 At] & Dan 1st 4548 g 21 B &0 SwDiv B & O Toledo 4s. Brdwy & 7th Av 6s. Bklyn Manhat 6s. Buff R & Pitt 4% Can Nat 4% 30. Canad North 7s. Canad Pac deb Can Pac 44546, ... Central Pacific ¢s.. Cent Pag 1st 68 90, Ches & O cv 4% Ches & O gn 4%s Chi B& Qgn 4853. ChiB&Q Istrfbs. 33 Chl & E {11 gn 68 51 280 Chi Gt West 4359, 700 CM&PugetSds.. 10 CM&StP4s2 C M&St P 4s 25 CM&StPov ks, 13 CM&SPev4lssizets 22 CM&StPrf4%s. 53 CM&SP rf 4% cf14 44 CM&StPevss... 22 59% vbscfs14 2 59 N ms 4 106% 106% 6 6% 5% 93% 92% 93% 96% 96% 2% 92U 102% 102% 102% 94 106% 106" 105‘6- 88% ,u. ‘ll-v. 59 b 59% 59% 59% 59% 601 60% Chi T H inc 83 60.. 50 Chi Union Sta 6%s. 6 Chi & W Ind cn 4s. 1! s. P 102% 102% 102% 104% 104 104 99 99 99 974 9T% 9Th 95% 9b% 95% 108 108 108 102% 102% 102% 94 93% 93% 5 117% 17 11T% 1041 104% 104% 91% 91% 91% o5% 95% 95% 100 99% 100 9% 8% 719 94m 9% 3% 834 W T 82 81% 89% Hgtn 108% 106% 7 99% 99% 9% 11 95% 95% 9Bk 5 103% 103% 103% 1 109% 109% 109% 27114 113% 114 2 22 22 89% Den & Rio G cn 4s. 13 Den&RIoG 4%836. 5 D & Rio G imp 5s.. 58 D Rio G West 5s...220 Det United 4 %: 1 Erie 1st cons 4s. Great North 6s. Great North 5%8.. Gr Nér gen 78..... Green B& WdbB. 2 HavE Ry b%srcts 1 89% Hud & Man ref 5s.. 34 99% 99 Hud & Man aj 5s. 39 ;g:/: Ti!Centref 4s..... 7 % 111 Cen 4553 ... 1s gg‘: 11 Cen 4%s 66. 7% 111 Central rf 5 5 108 105' 111 Central 5%s. 16 102% 101% 101% [11-C-C StL&NO 3 103% 103% 103'\4 Int Rapld Tran6s.. 13 8% ZB 8% Int Rap Tr 68 stpd. 75 78% T8 8% Int Rap Tran6s... 3 81% Int Rap Tran 7s... 18 984 Int & G Nor ad 6 1 90?& Int RysCA 58 72.. 7% Int Rep C Am 6s 41 95 Towa Cent rf 4 8 17% Iowa Cent 1st 5s. 51% Lake Shore 4s 28. 999 Kansas City S 3 Kansas City S SPECULATIVE RAILS FEATURES INBONDS Foreign. List 'Reacts—Flood of New Offerings Is Well Received Today. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, February 2.—Three features of interest in the bond mar- ket today were, first, the extraordi- nary strength in second grade and speculative railroad bonds: second, the way in which the flood of mew offerings was absorbed, and third, the moderate reaction in the foreign list consequent upon heavy realizing sales. Of these three the most spectacular was the rise in the railway group. There was a long list of advances, but the most importance attached to the jump of Western Maryland first 4s. which at 83 were up a point and three-quarters on the day and at the highest in years. Although a first mortgage lien with heavy equities behind it, the street reasoned that only the assumption of the obligation by some other and larger road would justify the present price. The sug gestion today was that Baltimore and Ohio was the new interest back of the property. Trading in the West. ern Maryland issue was very heavy throsghout the session. Other railroad bonds taken in large volume at advancing prices included Erie convertible “D" 4s, up at one time over a point and at the highest on the movement; Missouri Pacific 4s, which sold in large blo covering practically all the loss sus tained when the new financing pla was announced; St. Louls. n Francisco income 6s, which were fa- vorably affected by the strength i the stock after the Rock Island divi dend action was announced; Chicago and Eastern Illinois bs and Chicag Great Western 4s. The two last named have been lagging behind the rest of the market for a long time but they swung into line teday Other spots included Erie Genera) 4s and Erie “A” and “B” 4s and Peoria and Eastern incomes, 'fhe latter had a gain of nearly 3 points No interest has been paid on Peoria and Eastern bonds since 1518, The ability of the market to eare for the $90,000,000 in new bonds put on sale today created a good deal of confldence, coming as it did after the large total putout earlier in the week. January, 1927 established « record high for new offerings, but Feb ruary is likely to pass even that mark. Selling in the foreign group was a continuation of the realizing which first showed yesterday afternoon. Prices held fairly well, but most of the active issues were down substan tially from their recent highs. The reaction was not more than might have been expected after so sweeping an advance, In domestic industrials the ails again were prominent under the leadership of Barnsdall 6s with war rants, Empire Gas and Fuel 6%s, an the Sinclair issues. . BUYS OIL PROPERTY. NEW . YORK, February 2 (#). California Petroleum Co. has acquire: the producing properties of the Dab ney Oil Syndicate at Signal HUll, in cluding 13 leases and 19 producing wells, with daily settled production of 2,050 barrels. Payment was made in California Petroleum stock. SILVER QUOTATIONS. Kan City Term 4 Lake Shore 48 31... Louls & Nash uni 4 Louis & Nash 7s. 90, 694 Man Ry 1st 965 98% 20 15 108 108% 107% 107% 61% 61% 100% 100% 100% 101 80% 80% 96% 96% 99 99 106% 106% 107% 107% 6% 96% 105% 106% 61 107% 22 61% Mo Pac 6s 55 E. Nassau B Ry 4567, New Hav deb 4s 57 New Havencd 6 N Hav&H clt 6: NYOntWistds.. NY O&W gen :;554 N Y State Ry 4%s. NYStateRy 68 62 N Y W & Bos 4%s. Nor & S gen 5s 54.. Nor Pac 3s 2047 1 Northern Pac 4s... Nor Pac 48 2047.. Northern Pacr | 6s 8!’.&0!"1 18t 5 18 21 1 67 15 Pennsyl gen §s.... Pennsy| 5s 6 Pennsyl 6 %s. 103% 103% 111% 112 106% 106% 42% 44% 108 108 108% 108% 93% 93% 100% 101% 99% 99% 85% 85% 9%5% 95% 98% 98% 93% 93% s 86% 86 % 101 101% 102% 102% 99% 100 97% 98% % 101% 101% 86% B6% 4% 94y PCC&StLGsA.. 63 108% PCC&StL 5s B 75.. 27 108% Port RL& Pbs42. 10 93% Port RL&P6s47. 3 101% Reading gen 43%s. 99% RIArk& L 4%s.. con 45 33, St P & KCShL ¢%s Sou Ry Con s 54.. Sou Ry 63 66 Southern Ry IML . Term Asso S L 4s. . Term Asso St L bs. TexArk FS 51850, Third Ave ref 4s. Third Ave 1st 5s 37 Third Avead) bs. . Union Pac st 4s..... 8! 8l 5 102% 102% 102% 6 104% 104% 104% 66% 8% NEW YORK, February 2 (#).—Ba silver, 59%; Mexican dollars, 45% Washington Stock Exchange SALES. 103pital Trac,55—S500 at 100%. 3500 ut Farms 2,000 35,000 8t mu, s 080 u’w:u; 2 , Gas com 5.~§1 0011 ll L0»4 E 100% t, 1083 5 a [ al 233770 at 253 x?v'_i"z'an“' 3% Dist, Nav'l Bank—5 " n Ame & T 10 at a3, 372 1% uw's & Stge. pfd—20 Peonlnl ras® S BT 11008 e AFTER CALL. Fed-Awer. Co. com— " Riges Nai1 B0 2 Tl Mones—Call loans. & and 6 ver cent Bid and Asked Prices. BONDS. PUBLIC UTILITY American Tel, & T Amer, Tel. b Aol el 6 A g i 108 i i % Bid. Ask ok 9 ex Balt. Ann; wng:ngnn GGnsd "o ashington Washington czfi s tories B. Wash. Rwy, MISCLLLANEOUS Chestnut Farms mlr{ 6 Chevy Chase Club 5 20 B a: 101 h. Mkt Cold Wardman Parg Hotel 51 STOCKS. PUBLIC UTILITY. Amer. Tel. & Telsa. . Capital Tract Washington Norfolk & W e Wash: Rwy. & Fioe. Wash: oy (& phaoe., o . National Capital. Columbia IRUST cuumv\'. American Security & Trust.. $71% Continental Trust . 107 Merchants' Hank | Savinze & tust ... SAVINGS BANK Bank ot Bethesda. TITLE INSURANCE. Union Pac 1st rf 48 Union Pac ¢s 27 Union Pac 1st rf Unlon Pac ov 6s. Virginia Ry 1st 6s. Wabash 2d bs. . Wabash 5%s 75, 12 103% 103 10 101% 101% 101% ll 104% 104% 104% West Maryland 83 ° 81% 82% Wisconsin Cent4s. 2 83% 83% 83% ——— Tasmania plans to start construe. tion of automobile roads to cost nearly one-half million dollars, ke olumbia Title al te Title itle nv nX Md. com.. Paper pld.. rd{::;‘rf. T o v S EShe! ek 02258 E2 -