Evening Star Newspaper, February 11, 1927, Page 14

£ Fopaw 14 UNDERTONE STRONG IN STOCK MARKET Exchange More and More Getting Back to Normal After Rail Speculation. Spactal Dispatch to The Star. 'W YORK, February 11.—Pro- ceedings on the Stock Exchange today indicated that the market more and more was getting back to normal, fol- Jowing the excitement occasioned by cent dmnl:mnwnli in the low-priced e most part, it transactions omew. on the da preceding, but with the undertone con- tinuing strong. de, divided-paying rails, gWn their ability to move ard Ihdependent of what was hap- ing on the issue influenced by mer- » possibilities, were bought with con- nce again today. This was true of Ahhnon Delaware, Lackawanna and ern, Union Pacific, Norfolk and \\ stern, Reading and New York Cen- tral, which were anywhere from a yoint to three points higher at inter- Is. “nper.n jons for the rise were re- newed in New Haven, public participa- tion being influenced by thé rumors probably originated in highly that a good deal ently purchased ‘was v mm the Pennsylvania Western Maryland con- ed active at a rise of a point or while Wheeling and Lake Erle common was unusually quiet. Placing of General Motors common on a regular $3 annual basis compared with the previous $7 rate, came as no surprise to Wall Street. The more conservative clement was inclined to view this action as another piece of zood news, long expected, out of the way. General Motors opened down fractionally, but was taken up in the fternoon, getting well above the pre- vious final. Whether or not the recent strength in Hudson Motor was a re- sponse to reports that plans were in progress for control passing to another prominent interest, was a question. Hudson was carrigd down two points following denial of these rumors, but rallied Jater in the day. It was logical to assume that the General Motors action opened the way for larger distributions to du Pont share owners, but thig failed to be re- flected in the market for du Pont stock. Among specialties Interna- tional Harvester continued a feature, getting to new high ground still influ- enced by merger rumors. Baldwin Locomotive failed to main- tain the place of prominence it held vesterday, but it was only natural for profit-taking sales to make themselves felt following the spectacular rise of the past two days. Equipment shares as a rule con- tinued strong, with Westinghouse Air- Brake, American Locomotive, New more SivdrALs Abltibl Pow (5). Abranms&straus Adv Rumtey . . Adv Rumley pf. Ahumadat6uc) Alr Reductn(t8) Ajax Ruber..... Albany & Susq. . Allied *hem (6) Allied Cm pf(7). Allls Chalm (6). Allls Chal pf (7) Amal Leather. . Amal Lthr pf(7) Amerada (2) .. Am Agricul Chm Am Agri Ch pt.. Am Bank N (2). Am Hee Sugar. Am Bosch . .. Am Brake Sh(6) Am Br Bov Blt2) AmCan(2) .. Am Can pf (7).. Am Car&Fdy(8) Am Chain A ¢2). Am Chicle (3).. Am Drug .. Am Express (8). Am & For Pow. . Am&Fo Po pf 7) Am Hide & Lea. Am Hide & L pf. Am Ho P(2 40). Am Internatl(2) Am LaFrt) .. AmLinseed. . ... Am Linsd pf (1) Am Locomot (8) Am Loco pf (7). Am Mach & Fdy Am Po & Lt (31) Am Radiator(5) Am Ry Exp (6). Am SafetyR(13) Am Ship & Com. Am Smelting (8) Am Snuft (12). . Am Stl Fdys (3) Am Stl Fy pt(7) Am Sugar (5) Am Sumatra, Am Tel & Tel Am Tobacco (8) Am Tobacco B(8 Am Tobac pf (6) Am Typ Fdrst8) Am W W (c1.60) Am W W Ist (T) Am Woclen. .... Am Wool pt (1), Armour of H1(A Armour of 1B Asso Dry G(2lg) Atchison (17%). Atchison pf (5) Atlant CL (18). At Guif & W1.. Atlantic Refing Atlan Ref pf (7) Atlas Pow pf (6) Baldwin L (7) Balto &0 (6). bang & Ar (3) Barnet Leather Barnsdail A (2). Barnsdall B (2). Bayuk Cigars. .. Belding Bros(3) Bethlehem Steel York Air Brake and Lima Locomotive conspicuous, High priced industrials, easy to move because of the small floating supply, came in for .considerable at- tention. This was true of Case Threshing Machine, Commercial Sol- vents “E” and Coca Cola, with ad- vances extending to more than 13 points in some instances. Amalga- mated Leathers went into nmew high ground for the year, while Collins and Aikman, Eureka Vacuum, Butterick and United States Rubber extended their recent gains. WHEAT GOES HIGHER; DEALINGS ARE LIGHT Traders for Most Part Mark Time on Eve of Holiday—Corn and Oats Are Firm. By the Associated Press. CHICAGO, February 11.—For the most part wheat traders marked time early today, apparently disinclined to take a decided stand in the face of a holiday tomorrow. Owing to ab- Beth St pf (7). . Bloomingdale. .. Bimingdle pf(7) Blumenthal pf. . Bon Ami (4) Booth Fisher. Briggs Mfg 13). British Emp 2d. Bkin-Edison (8) Blkn-Mn Tr (4). Bkin UnG (4).. Brown Shoe (2). Brunswick Ter. Buff & Susq pf.. Burns Bro «10). Burns Br B (2). Burroughs (3).. Bush Terminal. Byer & Co pf(’ ). Calif Packg(4) Dry (e2%). Can Pacific (10) CarCl&Octs stas Case Threshing Central Alloy12) Cent Leather pf. Cent Lea pf ctfs Century R pf(7) Cerro dePas(15) Certain-Teed(4) Chand-Cleve. ... sence of any striking new incentive scattered commission Hhouse - adsorp- tion sufficed to hold prices. Startin; unchanged to 14 off, wheat soon ral- lled and swung within about half cént range. Corn, oats and provisions also were firm, corn opening, % to higher and subsequently keeping near to_fnitial figures. Steadiness of Liverpool quotations on wheat today, notwithstanding in- creased shipments from Argentina at tracted considerable attention here Argentine exports for the week to taled 6,834,000 bushels, against only 3,686,000 bushels a year ago. The fact, however, that Australian shipments were smaller acted as something of an offset. Bears in the wheat market today were disposed to stress apparent smallness of export business from North America. Indications of only poor domestic milling demand also was emphasized, with assertions likewiss current that the main element of strength in wheat is with holding of supplies. o BUTTER UNSETTLED. CHICAGO, February 11 (#).—But- ter unsettled: receipts, 4,898 (tubs; creamery extras, 49%; standards, 49%; extra firsts, 483a49; firsts, do3adTie! seconds, 44ad45%. Eggs lower; ceipts, 9.340 cases; firsts, 33; ordinary firsts, 31a32. . PANHANDLE OUTPUT UP. NEW YORK, February 11 (#).— Production in the Panhandle oil area of Texas in the week ended February 10 averaged 131,614 barrels daily, an increase of 4,430 barrels dally over the week before, the second week in succession to show a gain. The week’'s output came from 927 wells, including 18 new wells for the week. SHOBT_TEBM SECURITIES. (Reported by J & W. Scligman & Co.) Bid. Alum, Co. of Amer. 7Ta 1033. 1051 & Tel. Co. 4 14 o8 Chi E «hiie Copper vonv. City of Lyon s 19 Columbia G. & {ontinental G & 100 eral Petro (or;» n- m-w year R Northern 7g Otabo > 3 1o, Mass Gas Co, Jorzis & Co Y. Airbrake [ New Yotk Te, 08 1031 rexon Shiort Line s 16 it 3 ¥ TREASURY CERTIFICATES. Chandler pf(2%) Ches & Ohlo (8) Chi & Alton. Cht & Alton p! Chi Great West. Chi Gr West pf Chi Ind & Lou pt Cht MH&EStP. C M&StPofs. ... Chi MII&StP pf. C M&StP pf c! Chi & Nwn (4).. Chi Pne Tool (6) Ch! Roek Is CR1&Ppt (6). Childs 132.40)... Chile Cop (2%) . Chrysler Corp(3) Clev & Pitt (3°). Cluett Peab (5). Cluet Pea pf (7). Coca-Cola(17%) Collins & A1k(4) Collins&A of (7) Col Fuel & Lron. Col Gas & Bl (5) Col Gas Col G&E pf Col Carbon 4) Com Cr pf (1% )+ Com In Tr pf(7) Com Solv B(8). Congoleum N... Cong Cigar (4).. Con Cigars (1) Consol Distribut Consol Gas (5).. Cons Gasrts.... Cons Gas pf rts. Consol Textile. . Cont Bakg A (8) Cont Baking B.. Cont Buk pf (8). ContCan (5).... Cont Can pf(7). Cont Insur (6).. Cont Mot «80¢). Corn Prod (12% Cuba Cane Sugar Cuba Cane Su pf Cuba Co (4)...0 Cuban Am 8 (1). Cudahy Pkg (4). Cuyamel Fruit.. Davison Chem. Del & Hud (9).. Del L & Wi 17). pRrRGwdpe... Detroit Ed (8) Devoe & R«2 40) Dodge Bros Cl A todge prf (7)., Dome Mines (2) sDoug-Pec (2)... Du Pont (7) tsastman «18) Eaton Axle 12). Bisenlonr & Bro Eisenlohr pf (7) £ AutoLtit6%) Electric Boat. .. Elec Power & Lt Elec P & L pf(7) Elec Refrig (2). tSlec Sto Hat( +6) Endicott pf (7). Engineers Pub S Kngnrs PS pf(7) ISquitable of (7) 1o R Erie Stm S pf(7) Eureka Vac 144 J & W. Seligman & o 100982 . e 1991510 10027 100 2732 100 30-32 #airbanks (3).. F‘llrbnh M Hl) . 11T% 122 Oven High 84 84 67 67 12% 13 37 3T 4% 4% 9 140% 143% 140% 1% 12w 1% 220 220 220 1384 185% 121% 121% 121% 91k 91l 91% 109% 109% 109% 35% 36% 85% 464 46% 45% 128 129 128 1044 104% 103% 27% 29 27% 39% 384 89% 10 104 10 131 131 181 215 21% 204 7 87 9% 1% 51% 50w 82 32 81% 1% 85 85 40 8% 85 40 8% 29% 39% 8% 20% 26 64 66 63 112% 112% 110% 120 120% 120 ™ 19 79 57% 57% 67 112 112% 112 92 92 92 51% 51% 5 5 51% 5 5 141 148% 140% 126 128 126 45% 45% 45% 113% 113% 113% 834 834 82% 44% 4b% 44 155% 155% 156 1213 121% 121% 120% 120% 120% 12 112 M2 134 65% Mh 40% 40 188‘« 169% 167% 100% 100% 100% 185 187 185 36% 361% 36 12 112 112 116% 116% 116% 100 - 100 100 177 179% 174 11% 112 111% 58% 55 53% 54% b54% b54% 33% 33% 82% 30% 30% 30 51 51% 50% 22% 22% 224 45% 45% 45% 107% W‘FA 107% 39 381y 111% llg% 110% 68‘& 53% 53% T % 149% ltfl 148% 66l 66l 66% S1% 91% 91% 82% 32 1. 36% 367 36% 94 94 94 4 4 4 107“ 107% 10791 66% 664 66% 3l 31y 31% 39 389 39 176% 17T% 176% 100 100 100 144 144 22% 22'11 22% 155 168% 155 ™% T% 10% 11% 10% 14% 16% 14% 21% 28 27% 4 4 4 14% 14% 13% 81% 82% S8I% 134% 135 134% 6% TT% 76% 9% 50% 345 42% T3% 63%5 631 63% 114 114 L77% 178% 177% 71 T4% 71 145 147 145 59% 659% 68 88'»6 33% 82% 25% 100% 100% 100% 85 834 21 21 9T% 9T% 9Th 246 251% 246 19% 19% 18% b4% G4k 84 82% 831 82 1% 1% 1% 1004 100% % ‘h 3% 68 69 67% TH Th T 92% 92% 9% 69 691 69 124% 124% 124% 139 139 1% % 356 8 33 29% 176% 147 - 148% 52% 65 136% 136% 41 7% Bd% Y% 9 b53% 634 177% 177% 132 132 25 5 13% 934 1% 15 17% 97% 34% T4 i3 118% 118% 23% 23% 99 99 119% 1198 44 44% 56 b6 27% 27% 105% 106% 65% 66% 40% 41 40 108 108% 108 8% 109% .27“ 29 176 176 131% 5574 27% 105% 65% FoduT(lL“) . 42% 42% 1484 12 220 136% 121% 9% 109% 36% 46% 129 104% 28% 391 10 10 50'% 81% 121% 85 397% 8ty 264 63 111% 120% 79 57 112% 92 51% 5 1424% 127% 45% 113% 82% 45% 156% 121% 120% 112 256% 8% 9 48 46% 95% 149\ lfl“ 168% 100% 1864 36% 12 116% 100 176% 111% 5a% 54% 33 51 22% 45% 107% 38% 1 IOK 58‘/1 149 66 91% 32% 123 36% 94 107% 66% 31% 39 177 100 144 22% 157% ™ 1 14% % i 22 82 134% 6% 97% b50% 4% 42% 3% 63% 114 l‘lfl& 58 sx% IDO'« 84y 1 7% 247 19 54‘6 m 19 ‘s 3% 68% 7% 925 69% 124% 139 THE EVENING NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Ofice Fed Min & Smelt Fed Min pf (7).. Fed Mot T+ 180¢) Kirst Nat 81134) Fisk Rubber. .., Flelschmn (2).. Foundation (8), Fox Film A 14), Frank-S pf (7).. Freeport Tesx 12) Gabriel Sn «3%) ien Am Cnk «3) ‘Jen Asphalt.... ‘3en Eles (h3) ‘ienkilec spi Bic) jen Gas Arel ) Gen Gas pfA(7). Gen Motors (8). “ien Mot pf +7). jen Outdr Ad(2) “ien Outdr A 14) Gen Ry 8ig (5).. Hmhel Hros Gimb] Br pf ioodvear pf (7). Goodyr pr pf(8). fothm S Hi2 %) iotham new 1% Gotham 1st (7). tould Coupler A ‘iranby t'onsol . ¥rt North of (5) 3t Nr Orer t144) Grt Westn Su (8 Green ( Guantanamo. Gulif Mo & Nor.. Gulf States (5). Hartman A (2).. Hartmnboka 40) FHayes Wheel. .. Hoe & Co A Houshld P (3%) Houston OM1.. .. Howe Sound (4). Hud Man (2%). Hudson Mo(3%) Hup Mot (1.40). Ll1inols Cen (7). 111 Cen Isd i (4). Indep 011 (1).., Indian Mot (1%4) indian Refining. inland St (23). Inspiration (2). . Interboro Rap Tx intcontl Rub(1). in Ag C pr pf17) Int Bus Ma (3).. tnt Cement (4). Int Cement pf(7) int Com Kng (2) Int Harv (J6)... Inter Har pf (7) IntMtch pfi3.20) int Mer Mar pf. Int Nickel (2) Int Paper (2). Int Paper pt (7). int Tel & Tel (6) Island Crk (24). KCP & L 1st (7) Kan City South. KayserJ (4).... Kelly-Spring. .., Kelly-Spring pt. Kennecott C (5) Keystone T & R. Kinney (G R). Kinney pf (8)... Kraft (1%). Kresge SS11.. 30) Kresge SS pf(7). Laclede Gas t10. Lambert Co (5). Lehigh Val(3%) Lehn&Fink (3). Life Sav (1.60). Liggett & M(f4) Lig & M B (£4). Lima Loco t4).. Liq Carb (3.60). Loew's Inc (2).. Long. A (4). Lorillard (§8). Loose Wiles : Loulstana OI1, LoulsGasA(1.25) Louis & Nash(7) Ludlum Steel(2) McCrory(11.60). McCrory pf (7). Mcintyre P (1). Mack Trucks () Mackay (7). Macy HR & Co. Magma Cop 3). lison pf (7).. 0 Kl Sup (6) Man Elev gtd. Man Elm g (d5. Man Shirt (1%). Maracaibo Ofl. . Marland OiI (4). Marin Rock 12% Mathieson (4).. Martin-Pary(2). May Dept 8(4). Maytag Co(12%) MetroG pf(1.89) Mexican Seabd. Miami Cop (1) Mid-Continent Middle States. .. Mid States Oil ot Midland pf(t12) Miller Rub (2).. Minn & St Louis Min St P & 8SM. MStP&SSM 1i(4) Mo Kan & Tex.. Mo K & T pf (6) Missouri Pacific Motor Met3.60) Motor Whi (2)., Mullins Body... Murray Body (n) Nash Motor (4). Biscuit (5). Nat Biscu pf (7) Cloak pf (1) Nat Dairy (3)... Nat Distillers.. . Nat Distlllers pf Nat Enamel & S. Nat Lead«8)... NatPwé&Lt(80¢) Nat Ry Mex 2d.. Nat Supply (4) Nevada C (1%). NY Alr\Brake:2) N Y Canner: . NY Canner pf('l) NY Central (7). NY Chi&StL(11) NYO&StL pf(8) NY Dock. . NY & lel (5) NY NH&Hart. .. NYOnt&w (1) NY Rys partcfs Nidg F pf t1%), Norf & W (8) Norfolk Sout. NthAm b10% stb North Am pf13) North Pao (5 Norwalk Tir Orpheum Otis E| Otis Elev pf (8). Otis 8tl prior(7) Otis Steel ... Owens Bot (T).. Pacific Coast. ... Pac Gas&kl new Pacifie Gas rts. Pac Ofl Stubs. .. Packard (12.90). Paige Motor. ... Pan-Am B (6).. Pan-AmWnB(2) Panhandle. . . Park & Tilford. . Park Utah (60c) Pathe Ex (c3 Patino Mines. Penlck&Ford(1) Pa DixieCt(3.20) 114 43% 4% 32 48 38% 4% 63 21% 124 9 31% 14% 9 41% 23% 44 13 64 59 49% 105 47% 160% 127 62% 41% 40 56 9% 127 221 Jordan Motor .. : 112% 4T% 63% i 180 121 36% 23% 87% 87 T3% 55% 51 7 41 30 160 16! 25 132% 26% 61 100 26% 7‘% 120 188% 3 1% Xll 85% 190% 104% 3 Oft Wel! Sup (2) 3 8 114 82 38% 49% 6474 21% 124 79 324 180 1% 1% 1m1% 36 Peorla& East..s 23% 28 123% 123% ™ 31% 31% I:S\ 14% 41% 23% % % 120% 23% 2T STAR, WASHINGTON, D. C., FRIDAY, W.R. & E. CO. COMMON STOCK UP 30 POINTS ON 'CHANGE HERE BY EDWARD C. STONE. Ten shares of Washington Rail- way & Electric common sold on the ‘Washington Stock Exchange today at 230, an advance of 30 points over yesterday’s 10-share sale at 200. Local market followers assigned the reason for this sudden leap in Pere Marg ' 18) Pere Marq pf(5) Pere M prior(5). Phlla Co (4) Phila& RC&1.. Philip Morris. Phillips Pet (3) Phoehix Hoslery Pierce Arrow.., Plerce-Ar pf (8) Pitts Coal pf. Plitts & W Va Postum (5), . Pressed St Car. Pr Sti Car pf (7) Prod & Retiners. Producers&R pf Pub Serv NJ (2) Pub SK&G pf(6) Pub SE Po pf(7) Puliman Co (8). Punta Ateg Suge Pure Ofl (12). Purity Bak B Purity Bak A(3) Itadio Corp of A. RS 1l Cefs (4) Ruy Copper26¢) Reading (15)... Reading 2d (2) Real Silk Hose. . Reld lceCr pf(7) Remington T(5) Remingtn 1st(7) Remingtn 2d (8) Replogie Steel. . Rep Ir & Stl (4). Rep 1 & S pf (7) Reynolds Spngs. Rey Tobac ms) Robt Reis & Co. Royl D(a1.33%). Rutland of (1).. Safety Cable (4) St Joseph Li13) StL & San¥'r (1) St L Swn pf (5) 128% 91% 95 124% 123% 124% 59% 44 20% 99 45% 3% Schulte pt (8).. Seaboard Air Lin Seab Afr Lipf... Seagrave(el.20) Sears-R(n2%). 3eneca Copper... Shattuck F G(2) Shell Un (1.40).. Shubert The (5) Simmons (2) Simms Pet (1) Sinclair Of . Sinclatr pf (8). Skelly Ol +2). Sloss-Sheft (8) South Port 8 (6) South Por pf(8). Sou Calif kd (2) Sou Dairies A(4) Sou Dalries B. South Ry pf (5). Spear & Co pf(7) Suvicer MIg..... Std Gas & Elg3. Std G & El pf(4) Std Mill ¢6).... Std Millg pf (8). Std0ilCal(12%). StdONNJ (1).. Std Ol NJ pf7) Std VIl NY(160) 3td Plate Glass, SterlingPro(16 Stewart War (8. Studebaker (5). Studebak pt (7). Submarine Boat. Superior O11 Superlor Steel. Symington. ... Telautogra (60c) Copper (1) Lexas Corpn (3) Tex Gulf Sul (4) lex & Pacific. .. ‘Tex PC&O01(60¢). Lex Land Trst n Tide W Oll pf(5) Timk Roll B(15) Tobac Prod (7) Transcont Oll. Twin City (5). Underwood (4). . Un Bag & Paper Union Carb (6)., Un Oll Cal(2%). Un Pacttic 110). Un Pactfic pf14) Utd Cigar S(c2). Utd Drug «8). .. UtdDrg 1< i3%) Utd Fruit(15%) USCIPEF(10) pU S Distributing U S Hoff (18%). U'S Alcoho! «5) 4% 644 47 89% 103% 53 165 81 94% 162% 58% 118%+118 210 52% 58% 9% tiniversal Pipe. Utah Copper (6) Utl PELL A te2) Vanadium (3)... VanRaalt 1st(7) +ick Chemical. ., Victor Tlk Mch., Victor pr pt (7). va-Caro Chem. . va-Car Ch 6% pf Va-Car Ch pf (7) Va IronCoal & C Va Ir C&C pt(5). Vulcan Detin. .. wabash........ Wabash pf Alfi) Waldorf (1%).. Ward Baking B. Ward Bak of (7) Warner Plc A. Warren Bros(4. Weber -4) W Penn El'p! W Penn El A (7) West P Po pf(7) West Maryland. West Md 2d pt.. West Paclfic. ... WesthseAirB(7) Westinghse (4). Weston Elec Weston A (2). Whees & L K Wheel & L B p‘!. White S M (q2). Wickwire CLf: Willys Uveriand Willys Od pf (7) Wilson & C0..e e Vilson & CotA). Wilson&Uo of(7) Woolworth (6).« wortho Pump. . Worth PumptB) Yellow I't 176¢) Yel Tr&Co pL(7) Younkstown (4) Sales on N. Y. Mll;k;s!‘.m 1lam 488100 12n . & 1p.m.1,163,100 2 p.m. 1,442,000 anDipigena siven in the ua) e ‘nr,“efly less_than 100 shares e 4%t stock § P 3 vlus 250 i ®atoc stock Triding in New York Held Responsible for Jump—Closing Asked Price Today 250—200 Yesterday's Final. the selling price to trading in the stock in New York. It was reported that railway common sold there yes- terday around 225. As there are no speclal reasons here for the advance, the bidding among New York brokers is considered highly interesting. The stock has jumped more than 50 points since the close of 1926. Dur- ing the last week in December the stock was around 177 and 178. The closing usked price,today was 250. Other Local Securities Steady. Firm prices prevailed in other parts of the local list in today's trading on the exchange. Potomac Electric Power preferred sold at 110. Five shares of Federal American National Bank came out at 315, Riggs Na- tional sold at 465, and Continental Trust registered 106. Federal Ameri- can Company common appeared on the board at 34% on a transfer of 25_shares. Washington Gas bonds, series B, sold at 104%. The only other bond transaction ‘was in Barber & Ross 6%s, which sold at 99%. Securities in the unlisted depart- ment was also called off today, show- ing very few changes. Local Banks Open Tomorrow. ‘Washington banks will be open as usual tomorrow, Lincoln's birthday, the only bank holiday observed here during the present month being the twenty-second, Washington's birthday. The local broker offices, however, will take a rest after the feverish trading earlier in the week as the New York Stock Exchange always ob- serves Lincoln’s birthday by closing. The Washington Stock Exchange will also be closed, the local organiza- tlon following the lead of New York in observing financial holidays. Steamboat Company Elects Officers. At the annual meeting of the stock- holders of the Norfolk & Washington Steamboat Co., yesterday, held at the general offices here, the following di- rectors were elected for the coming year: Charles J. Bell, Woddbury Blair, D. J. Callahan, G. W. Forsberg, Clar- ence F. Norment, Clarence ¥. Nor- ment, j Willlam E. Francis At a subsequent meeting of the di- rectors the following officers were elected: Clarence F. Norment, presi- dent; D. J. Callahan, vice president and general manager; Odell S. Smith, treasurer, and Clarence F. Norment, Jr., secretary. Discounted Bills Decline. The volume of bills discounted in the local fifth Federal reserve district continued at an exceptionally low level during the week ended February 9, totaling $21,660,000, against $22,805,- 000 the week before. Note eirculation and member-bank deposits also were lower. These changes indicated a diminishing demand for credit, brought about a ratio of reserves to combined currency and deposit liabil- ities of 78.17 per cent, about 2 per cent higher than the week before. Rediscounts in the Federal reserve system as a whole were $14,000,000 below the previous week, totaling $379,665,000. The ratio was 79.5, against 78.5 per cent. May Sell 65,000 Rail Shares. Alien Property Custodian Sutherland is considering the advisability of dis- posing of the 65,000 shares of Western Maryland common stock held by that office. He expects to reach a decision on whether these shares ought to be disposed of within the next few da In the event this stock should be dis- posed of, says the Wall Street Jour- nal, no decision has yet been reached as to the method of sale. The Atlantic Coast Line and Louis- ville and Nashville Railroads have asked the Interstate Commerce Com- mission for authority to guarantee the proposed issue of $1,500,000 of first and consolidated mortgage bonds of the Carolina, Clinchfield and Ohio Railway. ‘Washington, Baltimore and Annapo- lis preferred advanced nearly 5 points. on the Baltimore market yesterday on a sale of*only 20 shares, indicating a scarcity of stock on offer. The com- mon stock was more active, but moved up only seven-eighths of a point. Farm Aid Asked—Other Notes. President Coolidge has requested Congress to appropriate the $10,000,000 already authorized to provide for the eradication or control of the European corn borer, which is growing to be as much of a menace to the corn belt as the boll weevil is to the cot- ton belt. Sales of Southern Dairies, Inc., in January totaled $675,482, against $621,115 in January, 1926. This gain was shown despite fact there was no increase in number of plants. Bennett, Bolster & CoghilY, Inc., an- nounce they are offering the s last block of undistributed shares of Rdxy ‘Theater Class A stock, priced at $40 a share, and with each three shares of Class A stock there will be de livered one share of common stock. The dinner given by the officers and governors of the local institute chap- ter at the Raleigh last evening was a complete success. Many other plans for expanding the work of the insti- tute were discussed. Personal Mention. . W. Spaid of W. B. Hibbs & Co. has been called to New York as a wit. ness in the Daugherty case now in progress there. Harry E. Mayer, a directot of the Bank of Commerce & Savings, fs on an_extended trip to Egypt and other Near FEast points of interest. He expects to be away about five months. John F. Costello, Democratic na- tional committeeman, has been elected president of the General Securities In vestment Corporation, underwriters and dealers in securities, with offices in the Vermont Building. Luis Bush, a director of the Bank of Commerce & Savings, who is on a pleasure trip to the West Indies has arrived at Havana, according to word received here by Cashier John M. Riordon, AT FOREIUN EXCHANGE. (Quotations farnished by W. B. Hibbs & Co.) iay London, pound sagacs $4.85 Howrein Sollar’ Paris _franc. Brussels. franc. mark Atnens. ‘crachma. Madrid peseta. Vienna ‘rown i;'“ AANest _crown crowi. Slock holm, NEW YORK, February 11 (P).— Foreign exchanges mixed; quotations in cents: Great Britain, demand, 484 11-16; cables, 4851-16; 60-day bills on banks, 480% France, demand, 3.921; cables, 3.93. Italy, demand, 4.30%; cables, 4.31. Demand.—Belgium, 13.90; Germany, 23.70; Holland, $9.99%; Norway; 25.7 Sweden, 26.67%: Denmark, 26.64%; Switzerland, 23; Spain, 14.81; Greece, 1.30; Poland, 11.75; Czechoslo- vakia, 2.96; Jugoslavia, 1.76; Austria, 1412%; Rumania, .56; ..Argentina, 41.75; Brazil, 11.87%; Toklo, 48.81%; Shanghal, 62.87%; Montreal, 99,84 ~ "EBRUARY [ sox BONDSmarewws] | TRADNGSLIGHT Received by Private Wire Direct te The Star Offica. It 28927 UNITED STATES. Sales. High. Low. s are in $1.000.) 77 10114 10111 101 14 61000 1008 1008 11 1039 1039 1039 Lib2d 4%s 160 10023 10021 100 21 Lib3d4k%s 60 10111 10111 10111 Lib4th 4%s 180 103 26 .03 24 103 24 US3%s.... 110330 10330 10330 1S 451944, 102 10620 106 18 106 18 US4%s52. 20 11027 11027 11027 FOREIGN. Sales. High. Low. Close. W 91% . 91% 98% 98 99% 98%, 9T 105% 96 Close. (Sales Lib3%s Lib 2d 4s. Lib Ist 4% Argentine 5s...... Argentine 6s Ju 59, Argentine 6s0ct59. Argentine 6s A 2 Austria 7s. Bank of Chi Bank of Japan 6s. . Belgium 6s. Belgium 6%s...... Belgium 7s.. Belgium 7s ct. Belgium 74s. Brazi 7s. Brazil 8; Canada 6s 1931 Canada bs 1962 Canada 5%s 1929, Chile 7s 1943 Chile 8s 1941 Chile 85 1946 Con Pow Japan 7 Copenhagen 5%s. . Cuba 5%s. .. Czecho i %s rcls Czecho 8s 1951 Czecho 8s 1952 ct. , Danish Munic 8s B Denmark 6s DE Insi 5 Dutch East 1 68 47, Dutch East I 6s62. El Salvador 8s 48. . Finland s f 63 4. .. Finland 7s.... Framerican 7ss French 7s.. Ger Gen Elec 7s, Haiti 6s. Holland-Amer 6s. Hungary 7%s. laly 7s... Japanese 4s. Japanese 6%s. Jergens U M 6s Lyon 6s..... Marsetlle 6s. Mexico 4s 04 asntd. Mexico 4s 10 asntd. Mexico 5sasntd. .. Montevideo 7s. Nord 6%s. Norway 5%s. Norway 6s 194 Norway 6s 1944, Norway 6s 1952 Orient Dev deb 6 Faris-Ly-Med 6s, Paris-Ly Med 7s. . Parls Orleans 7s. Peru 7%s.... Poland 6s 40. Poland 8s. . Prague 7%s. Rio de Jan 8s 1946. Riode Jan 8s 47, Rio Gr Do Sul 8s. Sao Paulo 8s 1936. . Sao Paulo 1950. Saxon (PW) 7s. Seine 7s 42 .. Serbs Crot Slo 8s. Soissons 6s. . Swiss 5%s Swiss Confed §s. Toho Elec Pow 7s. Tokio bs. .. Utd Kingm 5 %! . Utd Kingm 5%s 37 UtdSteamCopen 6s. Uruguav 8s.. Yokohama 6s w { MISCELLANEOUS. Ajax Rubber 8s. 6% 106% Am AgriChem 7%s 104% Am Cotton Oll 5s... 95% Am Smit & R 1st bs 101 Am Smlt & R 6s... 108% Am Sugar ref 6s... 104% Am T & Tecltrds.. 98% AmT& Teitr 102% Am T & Tsf 5s. 101% Am T & T deb 5%s. 106% Am Water Wks 6s. 9814 Anaconda 1st 6s. 104 Anaconda cv db 7s. 1063 Andes Cop 7s rets. 106% Armour&Co 4 %s rf 92 Armour Del 5%s.. 95l Barnsdall 6s ctfs. 104% 103 Bell Tel Pa s B... Bell Tel Pa 5s C. 103% 39 28 47 12 Beth Steel 5148 53. Beth Steel 65...... 2! Bklyn Union 5%s.. Cen Leath 6s 45 cfs Ghile Copper 65 32 Con Gas N ¥ 5%s.. Consumers Pow 5s. Cuba Canecv 8s. .. Cuban Am Sug 8s.. Denver Gas 5s..... Dery (D G) 7s. Det Edison ref ¢3.. Dodge w 1 63. Donner Steel 7s Duquesne Light 65 East Cuba Sug 7%s 1 Empire Fuel 61s..123 Empire G & F 738, 57 Fisk Rubber 8s. Goodrich 6%s. Goodyear 8s 1931 Goodyear 8s 1941, Hershey 6%s. .. Hoe & Co 6%s. tilinois Bell 1st 58. tllinois Stee! 43s. . Indiana Steel 5s Int Mer Marine 6 Int Paper 5s Kan CP&L 53 A 52, Kan G & El 6s52... Kelly-Spring 8s... Lackawa S 5850. Lacl G ref 34 Laclede G 5% Liggett & Myers 6s Liggett & Myers 78 Lorlllard (P) bs. Lorillard (P) 7S... Louisv G & E 6362 Mid ton 61 40. Midvale Steel Montana Pow 6s. Mor's & (o Ist 4%s New Lng Tei 6s... N Y Edison 55 44. N Y ldison 6Y%s. N Y Tel 4%s .. N ¥ Tel 6s 41 North Am Ed North Am Ed 6% Nor Uhio T & L Nor States Power b PacGas & B 68. .. Pac F& Tosb2 .. Pan-Amer 6s 1934, Phila Co s lps 38 PhilaCorf6sA... © Serv Gas 5 Remmgtn Arms Sharon St! H 8s. Sinclair Ol 6%s.+ Sinclair Oil 7s. Sin Crude O11 Southwest Bell Stand Ol NJ 6s w 1 155 Sug East omm 78 20 Tenn P Toledd Edn. Ilt'l UnitediD .. us llu’lll-n | Chi & Atton 3 FINANCIAL. Sales High. Low. Close. | 4 106% 106% 106 55 L0T%h 106% m. % | 4 98 98 98% 91% 914 105% 104 105 101% 101% 101% 101% 1014 101% 1024 102% 102% 6 102% 102% 102% US Rub7%s. U S Steel sf 65 Utah Pow & Lt Vertientes Sug 7 Warner Sug 18 39. . 90 Willys Ov 615833, Wiison & Co 1st 6 Winchester A 7%s. 106 106 106 Youngstn S&T 6s 15 104% 104% 104% RAILROAD. At&S F cvt 45 05-55 3 88% Atchison gen 4s. 93% Atlantio C Lol 4s.. 924 Atlantic C L 1at 4 94% AtlanticC L 7s 88% 88% 93% 93% 921 2% 93% 944 103% 103% 94 94 9T% 98 100% 100% 4 101% 101 1054% 10 % 102% 102 108% 108% 92% 92% 102 101% 834 831y % % 98% 98% 944 9% 99% 99% 118% 118 115% 116% 83% 83% 95% 9% % 102% 102% 108% 108% 102% 1024 9 9L 1014 O SwDIv 58 cfs B & O Toledo 4s. Brdwy & 7th Av 58 Bklyn Manhat 6s. . Buff R & Pitt 448, Can Nat 4%s30... Canad North 6%s. tanad North is. Canad Pac deb Can Pac 4%s 48 Car Clinch & O Centof Ga 5%s. lent of Ga 6s. Central Pacific 4: Cent Pac 1st 5s 90, Ches&Ocv4lhs.. Ches& O gn 4%s.. Chi & Aiton 3%s | Chi R & Qgn4sss. |cB¢ Q-1113%s... Chié & L1l gn 63 51 Chi Gt West 43 59 C M & Puget S 4s CM&StP4s 25, 5 CM&StP 4s 25 cfs 22 'CM&StP deb 4scfs 10 30 130 1 CM&SPcv4 iy s3zefs 22 CM&StPgnahs, 3 CM&StPridlgs. 2 CM&SP rf4%scfls 4 CM&StPcvbs... 20 CM&SP cv bscfs 14 Chi & NW gen 4s % . 105% 106% 1115% 111% 106% 106Y% 5% 76 895 89 92% 93 95% 95% 9% 9% 1T% 117% o BT 8Th 103’i 103% 103% 98% 99 2 10.1% 1034 103'4 2 102% 102% 102'% 103% 103% 103% 99% 994 97 97 95% 95% 108 108 93% 93% 116% 116% 1040 104% 9% 9% 99% 100 8% 8% 824 82% 6% 6% 8l Sl% 8045 80% 88 88% 99 ° 99 % 107% 107% 115% 115% 94% 94% Hflh 118% % 24% SP 89 98% 98% 86% 86l 934 97 Del & Hud 1st rf 48 26 Del & Hud cv §s 35. 21 Del & Hud 5%s. Den&l{a cn 4 D & Rlo G imp §s.. 15 D Rio G West 5. 93% 116% 104% 91t 190 8% 82% 6% Erieconv4s A. irie conv 4s B. Erie conv 4s D. Gt Nor 4%s 76 D. Gr Nor gen 7s.... ireen B & W db B. Hav E Ry 6%s rets Hud & Man ref 5s.. Hud & Man aj 5s... 11l Cent ref ¥s 1l Cen 4%366..... 11l Central rf 58 55. 11l Central 5%s.... 1i1-C-C StL&NO 68 int Rapid Tran 6s. Int Rap Tr 6s stpd. Int Rap Tran 6s. int Rap Tran 7 int & G Nor 1st int & G Nor ad Int Rep C Am 93'% 974 107% 107% % 102% 102% 103% 103% Kansas City 8 3s.. Kunsas City 8 6 Kan City Term 4s.. Lake Shore 4s 28.. Lake Shore 4s 31.. Louis & Nash uni 42 L&N4%s2003.... Louis & Nash 5% louis & Nash 7s. Slan Ry ist 90. ket St 75 40 MilEI Ry & L 58 51 88% 99% 98% 96% 100% 100% 108 108 106 105 69% 69% 974 99% 100% 108 5 106% 21 MS[P&SSMSSSE:M &l " M St P& SSM 6%s. 101 851 85% 987 98% 101% 101% 103 103 & 76% 6% 100 100 107% 107% 107% 10T Mont Trm ref 5s 41 9 99 Nassau E Ry 4s 67. 61% 61% « ST% 8TH 100% 101% 105% 105% 80% 80 91tk 914 965 961 98% 98% 105% 106 107% 107% 9% 80% 96% 96% 105% 105% 105% 106 1021 102'% 79% 5 3% 3% 108% 108% 61% 8T% 101% 105% 80l 9% 96'a 98% 106% 107% 0 ~ Sepelnatantar New Hav deb 4s 56 New Hav deb 4s 57 New Havencd 6s. NY O&W gen 4555 N Y Ont W Ist 4s N Y Rys 63 65. ...—.-—-,.mm—--& NYS’IEMR.Y 6lps 62 18" N Y W & Bos 4%s. 136 Nor & S gen 5s64.. 12 Norfolk & W cn 4s. Nor Pac 3s 2047, Northern Pac 4s... Northern Pacr1 63 Ore & Calif 1st 5s.. Ure Short L rfs 4s. Ore Short L cn s, Ore Wash 1st 4s. Pennsyl con 4 %s. 661 % 92 113% 113% 4 100% 100% 98% 98% 4 107% lD'l'n B7% 87% 102% 102% Pennsy| gen 4%s.. s 111% 111% 106% 106'% 45 45 104% 104% 107% 107% 107% 107% 934 93% 99 Pere Marq 13t 5s.. PCC&StL5sA.. PCC&StL 55 B 1 Port RL& P64 Reading gen 4%s Reading J C 4s51 RIOG W Ist 4s. Rio G West cl 4s. RIArk& L 4%s.. 100 100% 102% 102% 99% 100 37 97 97% 19 IO;'& 101% lol‘!fi 8 2 93 .‘2'& 92% 45 89% '89% 89% 55 82% 824 82% 24 76 76 7 . 281 85% B4% 6% 98 99 - 98% . 98% 6 9% 9% 9T . 1 86l . ID L14% L14% L1d4% 27 120% 120% Bg“ Term M'l” 4 104% 104% 104% ruuamm 8 105% 106!6 105% | were Lanston Mootype. INBOND MARKET Entire List Lacks Buoyancy. Selling Is Most Insistent in the Foreign Group. BY GEORGE T. HUGH! Special Dispatch to The ftar. NEW YORK, February 11.--Trad- ing in bonds fell off substantially in volume and prices reacted slightly today's market. The selling was mo insistent in the foreign group th. anywhere else, but the entire marke lacked the buoyancy which character ized it earlier in the month. Today new offerings were comparativ small, but evidently the large amounts of and the wee It had been fully all the French issues receded , with an especially heav turnover in French 7s. In the Be glan list the stabilizing 7s dropped down below 103 and among Brazilian obligations the Gigs sold below 93 against the year's high of 96. Reports about a new Braziliap loan may have been an influence infthis case. Ital fan 7s and Yokohama 6s were off witl fractional ond-grade and semi-speculative better showing than the Wheeling and Lake Erie 4s strong, with a gain of over o On the other hand, C foreigns Doint T NRidi: chHlgh oo 351 T s roads which have been so promine in the stock market late heavy. W Maryland 4s time were 3 points fr their recent top. ie_bonds flu ated uncertainly and the supply Missouri Pacific general 4s was ful equal to the demand. ‘The feature in the industrial class was the Warner Su s of 193 which had an independent upward movement for a net gain of 1 a point. Neither in the oils local tractions was there an trend. High-grade inv steady, but tradi win Locomotive higher, but still far below the reder tion price. Speculation in Baldw stock has so often heen accompanie: by the report that sale of the con pany’'s real estate was contemplaied that the action of these bonds, whicl are secured on all the property, is closely watched. Standard Oil of Nex Jersey debenture 5s were the strc issuein their part of the list. Washington Stgsck Exchange ngton we at or y distinct estment bonds were ¢ was dull. B were fra Lo Gas 65 36 “B'—$400 at rmlnm:“uvr fd. gy Federal-American at 110, National Bank—5 at 4l ikEs National Bank—10 at 465, 10 at Continental Tr Federal-Ame: it . “com, o i AFTER CALL. e Rogs 61a—$1.000.a¢ 00 1 waihlll‘loh Rwy. & Electric com.—10 at Money_cail 1oans 6 and 6 per cent NOTICE—¥nis exehan losed morrow, Lincoln's birthday. " T ¢ 0% ¢ Bid and Asked Prices. BONDS. PUBLIC UTILITY. American Tel. & Tl % mericgn, Tel. & Telga, 4 o8 A S Aummm & Pot K R Bs Ava & Potomac euar Ga & & ¥, Telephione ba.. €& Va Capital Traction R. R. City & Suburban_b 230 a torage Gs Wardman back u.ym‘F 4s.. : STOCKS. PUBLIC UTILITY. American_Tel Capital Tractio ashington G Norfolk & Wash_Steaint Potomac Elee. nfd.. Wash. Rwy Wash. Nattonai Baok of Wash | 383 TRUST COMPANY American Security & Trus Continental Trust. Merchants' Bank National Savings & Union Trust.. Wash. Loan & Trust..... SAVINGS BA. Bank of Bethesda. FIRE INSURANCE. Amerx_can % 200 o Federal Americ: -11! Merchants [ran & Storage, - nts Fran & Stor vfd centhaler Linoy . Mitge. Unlisted Department. These securities not listed under exchanse rules. BONDS. Army ang \f‘?;,cx"" 5. oa Club i Motropolitan Club 4% Asked, Fo Title Co.... Badi i Woodridge & Langdon 8. Bk, rhird Ave ref 4s Chird Ave adj 6s. . ol Tr L&P 6143 30 Union Pac 1st 48 7 654 65% 6L 64 99% Unlon Pac Ist rf 48 ‘lolon Pac 4s 27 ... Unlon Pac ev 6 Virginia Ry Is Phs 100 99% 1017% 101% 103 102% 99 99% 108% 108% 104 104 9 10316 104 S04 99% 884 9% aba Wabsh 5%s 76 .. Wes' Marylanc 65 Western Pacitto 6s. Wheel & L Beon 4. Whel & L B rt 4%s. ’ [ 4 ¢