Evening Star Newspaper, March 9, 1927, Page 14

FINANCIAL, - MLSTAKELERD [ IN STOCK MARKET High Grade Dividend Payers and Low-Priced Issues Active. ch to The Star. NEW YORK, March 9.—Rail shares assumed the place of promi ménce in the stock market today | Yesterday's late recovery. which was particularly pronounced in of | the leading industrials, had intimidat- ed the short interest which had been working for a further technical reac tion. The favorites in this quarter reached higher levels with the course hour, but thereafter it which assumed the lead. |- divid many final of 16 New York Cent i Western extend ve than two points. additional Francisco would 1 of common appe specu definite ass 1 i ; i made in the form red to be to the lik- tive element, and me into the market ng was in prog- 1 Allled "hem () Open Abitibi Pow (5). 91t Adv Rumiey Adv Rumley pf Ahumada r60c) Alr Reductn(t6) Ajax Ruber All Am Cable(T) 1t 36 5 145 1% 16619 139 Allied Cm pf(7) Allts Chalm «#) Allis Chal pf (7) Amal Leather . Amerada «2) .. Am Agr! Ch pf. Am Bank N (2). Am Bosch ... Am Brake Sh(6) Am Br Bov El2) AmCan(2) .. Am Can pf (7)., Am Car&Fdy(6) Am C& Fpf (7) Am Chatn A (2) Am Chicle (3).. AmChie pr pf(7) Am Drug . Am Express (6) Am & For Pow. . Am&Fo Po ot 7) Am Hide & L pf. Am Ho Pi2 40) Am lcett10) Am Ice nf (8)... Am Internatl(2) Am La Fr (1)... AmLinseed..... Am Linsd pf (1) Am Locomot «8) AmMA&Fy pf(7) Am Metals (3).. Am Piano pf (7). Am Po & Lt if1) Am Radiator(5) Am Rad pf (7). Am Ship & Com. Am Smelting (8) AmMS & Rof(7). Am Snuff (12). Am Snuft pf (6). Am Stl Fays (3) Am Sugar 15). Am Sumatra 96 17% 83% 40 142 334 48% 129% 1041 30% 20% 90ty 89% 8t 0974 22% 569 111% 145 414 104% 56% 115% 135 149% 120% 129' 997 454 er the industrials v no means negiected. United n demand most 8, and subse- e this figure. of the time above quently got well abo But the disposition was to do little until after the publication of Febru- ary steel tonnage figures, due tomor- ToW. Hudson Motor maintained its place ip in its group, crossing 73 high for the year. Unofficial estimates of first quarter earnings placed net at the equivalent to §2 a share. It was evident there was still & good sized short interest in the mar- ket for the stock which was finding Am Tel & Tel(9) Am Tobacco (8) Am Tobacco B(8 Am Tobae pf (6) Am Typ Fdrst8) Am Type pf (7). Am W W (c1.60) Am Woclen. Am Wool of (7). Am Writ Pa ctfs 122t 121% T 136% 109% Anaconda (3). ArmourDel pf(7 Armour of T11(A Armour of 111(B° Arnold Con&Co. Artloom (3). 964 13 T 22% ifficulty. in getting in its contracts. General Motors was subjected to prefit-taking for a time, but had little difficulty in _crossing the previous final of 1693%. Offerings of White Motors, which carried the price to a new low, reflected further disappoint- ment over the unfavorable showing in the 1926 report. Shubert Theaters Strong. Among industrial specialties Shu- bert Theaters stood out strongly at much the highest for the year. The demand accompanied glowing esti- mates of earnings for the first half vgar. The special operation which has been in progress in Loew, Inc., carried it to a new top for the movement and those back of the market for Interna- nal Combustion got busy with their favorite again. Consolidated Gas, down 4 points, was settling exrights de «ducted from the price today. Heavy profit taking again made it- eeX felt in Houston Oil, but not before the stock got close to its best prices. Others of the group held firm with { #hanges confined to narrow limits. Nugar stocks were taken up under % leadership of South Porto Rico. The ¢ report of American Sugar was con- ¢ sidered favorable, aithough the de- ;xnan:l for the stock was not pro- mounced. Baltimore Markets ¢ _ BALTIMORE, March 9 (Speciai).— ! Live Poultry—Turkeys, pound, 40a45; ©ld,, 85; poor and crooked breasts, 25; young chickens, 30a35; Leghorns, | 30a32; poor and thin, 25a28; Winter ¢ chickens, 38a42; old hens, 28a29; Leg- { horns, 25a26; old roosters, 18a19; ca- | pons, 32a36; ducks, 28a34; poor and thin { 23a25; guinea fowls, each, 50a75; { pigeons, pair, 30a35 i " Dressed poultry—Turkeys, pound, 40a45; old, 35236; pcor and crooked chickens, 28a35; roosters, poens, 32a38; ducks, 30a35. Receipts, 1,367 cases; native firsts, in free cases, offer- 24. Butter—Good to fancy creamery, pound, 48a53; prints, 53as5; blocks, £3a5:; ladles, 30; rolls, 26a28; store | packed, 25a26; process butter, 39a40; dairy prints, 26a28. Produce Quotations. Potatoes, 100 pounds, 1 o potatoes, 00; sweet po- tatoes, , 2.25a2.75: yams, bar- rel, 2.00: .25; aspara- gus, dozen, 4.00a12.00; beans, bushel, 4.00a5.00; beets, 100, 4.00a6.00; broc- coli,” barrel, 75a1.00: cabbage, ton, 00a25.00; i crate, 2. ; cucumber 4.50; eggplants, crate, 3.50a6.00; barrel, 75a1.00; lettuce, hamper, 1.50a 295; onions, 100 pounds, 2.00a3.50: oyster piants, 100, 4.00a6.00; peppers, crate, 3.00a6.50; peas, bushel, 2.00a parsnips, b et, 40a50, spinach, bushel, 1.50a1.75; squash, crate, l.lmfll ; tomdatoes, crate, 2.50a5.00; tur- | 1.0024.00; i bushel, 2.50a3.50; oranges, quart, 4 E Hay and Grain Prices. 2 red Winter, domestie, ga garlicky, new, 3, 511353 lots of nearby, 5713a58 per ve—Bag 1.00a1.05 bushel. . The supply of hay of ail nds on spot at present 48 light, and for the better grades of s for zood clover hay v mixed there is u neral situation steady. Low grade and inferior hay is dull and of uncertain value, Quotations today per ton—No. 1 timothy, 2 timothy, 22.50a23.00; No. 3 No. 1 light clover, mixed, No. 2 light clover mixe mixed, 2 . 1 wheat, 13.50214.00 per No. 1 oat, 14.00a15.00 per ton. platRy RUBBER UNCHANGED. NEW YORK, March 9 (Special). Crude rubber, smoked ribbed sheets, were unchanged at today’s noon quotation of 40% cents. This com- Calif Packe (4). Calif Petrol (2). Can Pacific (10) Central Alloy(2) Cent Leather Centary R pf(7) Cerro dePas(15) Certain-Teed(4) Chandler pfi2%" Art Metal (t1%) Asso Dry Gi214) Atchison (+7%) Atchison pf 15) Atlant CL (18). Atl Gulf & WI.. At Gulf&WI pf. Atlantie Refing Atlan Ref of (7) Atlas Powdr (4) Austin-Nichols Austin Nic pf(7) Baldwin Loc(7). Balto & Oh (6).. 112 Hang & Ar (3).. 58 Bang & Ar pf(7) 107% Barnsdall A (2). 32% Barnsdall B (2)8 31 Bayuk Cigar: 55 Bayuk 1st pf 103% Belding Bros (2) 24% Bethlehem Steel 49% Bloomingdale... 37'% Bon AmiCl A(4) 54% Botany C MillsA 23 Briggs Mfg «3). 32% Bkin-Edison (8) 150% Blkn-Mn Tr (4). Bk Man T pf(6). 87 Bkin Un G (4) 9l Brown Shoe (2). 32 Buff Roch&Pr4) 103% Buff R&P pf(6). 108 Buff&Susq pf(4) 44% Burns Rro (10), 113s% Burns BrB (2). 25 Burroughs (3).. 93 Bush Terminal. 39% Bush Terde (7). 954 Bush Trm pf(7). 108% Butte&Super(2) Butterick (m2). Bver&o...... 42% 169% 99% 186 115% 117 60 % 51 185% 56% 66% 29% 42% 184'% 152 26% 9 80 61% 46% 22% T 10 154 Can Dry (c2% ) Case Threshg (8 Chi & Alton .. Chi & Alton pf Ches & Ohlo (8) . Chi & East (11 pf Chi Great West. Thi Gr West pt. Chi MIIGSEP. ... Chi MI1&StP pf. C M&StPcfs C M&StP pf efs Chi & Nwn (4).. Chi Pne Tool (8) Chi Roek Is (5). CRI&Ppf(6). CRI1&PoDf (7 Childs (12.40) . “hile Cop 12%). Christie B (1.20) Chrysier Corp(3* Chrysier pfA(8) Cluett Peab (5). Coca-Cola(17%) “ollins & Atke4) Collins&A pf (7) "ol Fuel & Iron. "ol Gan & B! (5) ol G&E pf A(6) ol Carhon ¢4).. Com Credit 1), Com Inv (3 60). Com Solv B (8). Congoleum N .. Cong Cigar (4).. Con Cigar (1) ... “onsol Distribut Consol 20% 12% 19% 81% 81% 97 106% 50% 35 38 42% 104% 5% 101% 80 19% 52t 270 19% 534 80% 1% 941y . 3 Cons Gas pf rts. Consol Textile, . Cont Bakg A (8) ont Baking B.. ont Buk of (8). Cont Can (5). ‘ont Mot ¢80c). Jorn Prod (12% Coty Ine (5) CrownWP1stpfl ‘rucible Steel 6 “uba Cane Sugar ! “uba Cane Su nf | Cuba Compy (3) ban AmS 1) 25 Sudahy Pkg (4) 51% Cushman's (§8). 305 Cushman of (8). 106% Cuvamel Fruit.. Davison Chem. .. Del & Hud (9)... Del L & W (17). DRG Wstpf... Devoe & Rz 40) Dodge Bros Cl A Dodge bf (7)... Dome Mines (2) Doug Pect(12%) Dupont (8) .... nauesne of (7) stman (18)... 149 654 194% 115 132 pares with 371; cents a month ago and 56 cents a year ago. DECLARES $6 DIVIDEND. NEW YORK, March 9 (#).—Pratt & Whitney Co. declared a dividend ©of $6 a share on the common stock. all of which is held by the Niles- Bement Pond Co. It is payable March 8l. The Niles Bement-Pond Co. re- ported net_profit of §192.177 for 1926, equal to §5.76 a share on the pre. ferred, in contrast to net loss of $799,519 in 1925, SILVER QUOTATIONS. NEW YORK, March 9 (#).—] va:r. 55%. Mexican dollars, 42. 26 13% 6% 99 14% 17 33 ton Axle (2).. iisenlonr & Bro B! AutoLts th%) Elec P&L pf(7). iectric Boat. .. tleo Power & Lt Elec Refrig (2). Elec Sto Bat(16) Elk Horn. Elk Horn pf #nd-Joho <6 Engineers Pub § Engnrs PS pf(7) BrieRR .coeee ist pf. Briezd of ... i3rie Stm S(2%) Eureka Va ft4% Famous P1 (§8). Fed Lt&T(k1.40) 41 112% 112% 111% 2% High 9l 90% 14% 86% W 146 1% 1w 166% 166 140% 138 14 364 4i4 96k 95 1T 1Tt 33% 41 40 4Ty 145 48% 130 129% 104% 104 1208 12 304 20% 0% 52 32% 30% 1 395 391 8 8 234 21% 56l 53t 12 1t 147 145 41% 4l 105 104% 57% 56% 1164, 115% o 4% 1501 148% 1201y 120's 129' 129% 100% 997% 45% 454 - 48 159 1587 122% 122% 1214 121 1124 1123 137 186% 109% 109Y% T64% T3% 46% 46%3 47 46% 964 96w 13w 13 % T 22% 22% 51 51 24% 24 43 424 171% 168% 100% 99% u7 0 117 60 187% 184 112% 112 61% 58 108 107% 334 32% 31% 30% 55 55 103 103% 2% 24% 50% 48% 37% 3T% 656 54% Low Close. 904 Abr&Stras%pt 1111 111% 111 1115 144 36% 145% 146 166 14 121% 121% 121% 121% 961y 110% 110% 110% 110% 1 33% 331 4 4 115% 113% - 23% 22% 35% 32% 150% 150% 9% 9% 32 314 111% 103% 109% 108 44% 44% 118% 118' 25 26 94 93 40% 39% 95% 95l 108% 108% 11 55 56% 55% 66% 66k 291 29% 21 42 186% 184% 153 151 26% 264 9 9% 80 80 62u 61% 48% 46% 23 22% Ty 6% 21% 20% 18k 12% 20% 19% 824 81 182% 131 82% 8l 9T 964 106% 106% 50% 60% 6% 35 38 38 42 105 R5% 85U 101% 101 524 51 272% 269% 20% 19% 53'% 81% 15% Pk 61% 105 106% 106% 8l B1% 8L 28% 28% 28% 179% 180% 179% 149 56% 56 195% 198% 15 115 132 132 25 25 13% el 9! 25% 65 41 3 1 47 1t 0 iy 0% Tl 06, 1A 28% 12 2% Fed L&T pf2(6) Fed Min & Smelt Fed Min pf (7). Fed Mor T f80c) First Nat Si1%) 1k Rubber. Fisk 18t of (7). Flelschmann(3) #oundation (8). Fox Film A (4) Freanort Tex (2) tiabriel Sn (84) Gardner Motor. ‘len Am I'nk (3) Jen Asnhalt Gen Rake of (8) Gen Clears (4). Gan Eiec (h3). . Aenklec ap(fic) Jen Tas Aol 4) Gen Gas pfA(T) Gen Motors (8) Gen Mot pf (7) Jen Outdr Ad(2) fen Outdr A (4) 3imhal Bros ldden (2), [ T ndrich Ru (4) Goodyear pf (7) Nothm S Hi2) ranby Consol. Grt North of (5) Gt Nr Oract114) Girt Westn Su (& Gt West S of (7) Green Canan. Guantanam Aulf Mo & Nor. . Gu M & N pf (6) 1P States (F) Gulf Sta 1st (7). Hack W pf(1%). Hrtn B b10° stk. Haves Wheel. ., Helme Geo (4) .. Helme GW pf(7) foe & 0 A Houshla P (314) Houston Ofl .. Howe Sound(4). Hud Man (2%). Hudson Mo(314) Hup Mot (1 40), [llinols Cen 1) 1li Cent pf (6) fndep O1l (1). Indian Refining. IndianRefg ctfs. Inspiration (1). Interboro Rap T1 Intcontl Rub(1) In A Cprof(7) Int Bus Ma (4). Int Cement (4).. Int Com Eng (2) Int Harv (§6)... Inter Har pf ( IntMtch of(3 20) , Int Mer Marine. Int Mer Mar pf.. Int Nickel (2) Int Paper (2). .. Int Paper of (7) Int Tel & Tel (6) Intertype (t114) Iowa Central. .. Jewel Tea. ..... Jewel Tea pf (7) Jones Bros Tea . Jones & Lau (7) Jordan Motor. .. Kan City South, KayserJ (4)... KayserJ 1st pf 8 Keily Soring .. Kelly Tire 6% pt Kelly Tire 87 pf Kelsey Wh (8).. Kennecott C (5) Kinney (G R) Kinney pf (8). ., Kraft Ch (11%) Kresge SS(1.20) Kresge SS of(7) Kresge Dept 8., Kress SH (1)... Lago O1l&Tran. Lambert Co (5). Lee Tire & Rub. Lehigh Val(334) Lehn&Fink (3). LifeSav «160), Lig & Myrs(f14) Lig & My B(ft4) Lima Loco (4) Llg Carb (3 60 Loew’s Inc (2).. S Long Bell A (4). Loose-Wiles (8) Louistana O1l... LouisGasA (1.75) Louls & Nash(7) Ludlum Steel(2) McCroryB:11.60} McCrory pf (6).. Melntyre P1). Mack Trucks (6) Mackay (7). .. U Magma Cop (3). Mallison & Co.-.. Man E1 Sup (§ Man El m g (d5) Man Shirt (1%). Marland O1l (4). Marin Rock 123 Mathieson (4).. May Dept § (4). May Dept Srts. - Maytag Co(12%) Mexican Seabd.. Miami Cop (1)., Mid-Continent. Middle States. Mid States Oil ot Midland pf(+12) Minn & St Louts Mo Kan & Te: MoK & T pf (6) Missourt Pacifio Missouri Pac pf. Montana Pow(5) Montgmry W(4) Moon Motor. ... Mothr Lode (750 Motion Plo (1) Motor Whi (2)., Muliins Body.., Murray Corpn.. Nash Motor (4). Nat Biscult (5).. Nut Biscu pf (1) at Casb RiA)3 Nat Cloak & Suit Nat Cloak pf (7) Nat Dairy (3) Nat Distill 5 Nat Distlllers pt Nat Lead (8). . Nat Lead pt (7). NatPw&Lt(80¢) Nat Ry Mex 1st. Nat Supply (4). Nat Tea (4) Nevada C (1 N ¥ Air Br (3). NY Central (7). NY Chi&StL(11) NYC&StL pf(6) NY Dock....... NY Dock pf (6). NY & Harl (5).. NY NH&Hart. .. NYOnt& W (1) NY Rya part cfs NY Stm pf A (7) Norf & W 8) ... NthAm b10% sth North am pf(3) NorAm Ed pf(7) North Pac (6) . Northwn Te) (3) Nunnally (1.50). 01l Well Sup(2). LIl Well S ot Omnibus. . Omnibus pf Vonhm. Col (4). Orpheum Cir(2) Otis Klevator (8 Otis Steel ..... Otis Sti prior(7) Owens Bot(C15) Pac Gas&El new Pag Of) Stubs. .. Pac Tel®Tel rts. Packard 1 12.90). Palge Motor .., Pan Am B (8).. Pan-AmWnB(2) Panhandle ... Park Utah(80¢). Pathe Ex (e3) . Patino M (a%7c). Peerless Mot. Penick&Fora( Fenn C & Coke Té% 2244 1254% 124% NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Ofiice Low. Close, 23 105% 25% 126% 124 27% 8 87 20% 47% 2D LIBERTY EXCHANGE OFFER LIKELY TO BE WIDELY TAKEN Prospect of Easy Money Conditions for Long Time Reflected in Mellon’s March Financing Plan. BY EDWA Secretary Mello NTONE. the second 4% per cent a new Insue of §1y per cedt Trenwury notes has given wgeneral in banking civeles in Washington heve that Liherty i belleved f thene ment. With aully IS is felt he Mg the moty and tn Wall Htreet that o s offer to exchange Libertyn for satistaction It considerahle honds will he A for exchange to take advan- tage of the 87 per $1,000 premium of fered on the current oo ¢ wituation no advantage will he gained holding these bonds in terms later. ‘The opinion here i that B Mellon postponed the unnou hange plan until 2 out March 15 financing of this after ing the the in order to sepa- o te! o of better seretary ment hours rms of the rate the two transactions in the minds of the public. While the sevond an- nouncement was of most vital interest to bond investors, banks and corpora- tions, dealers in all other securities were deeply interested in the Implied indications that easy money conditions are likely to prevail for a long time President Invited to Speak. President Coolidge today was in- vited to address the eastern regional savings here April 7 and 8. which is held every year under the conference which This conference, will meet Pa Dixie Ct(3.20) Pa Dix Ct pf((7) Penna R R (3%) Penn-Seab Steel Peoples (jas (8). Peorla & East Pere Marq(18).. Pere Marq pf(5) Pere M prior(5) Phila& RC& 1 Phila&RC&] cfs. Philip Morris. .. Phillips Pet (3). Phoenix Hoslery Pierce Arrow.. Plerce-Ar pf (8) Plerce Oll. ..... Plerce Ol pf.... Plerce Petrolm. Pitts Coal of ... Pitts Term Co: Pitts & W Va(6) Postum 16). . Pressed Stl Car. Pr Sti Car pf (7) Prod & Refiners. Producers&R pf Pub Serv NJ (2) Pub S NJ pf(8) Pub SE&( pf(6) Puliman Co (8). Punta Aleg Sug. Pure Ol (12)... Purity Bak A(3) Purity Bak B(2) Purity Bak 2€(7) Radio Corp of A. Radio C pf (3%) Rand Min(a1.57) Reading (16)... Reading 1st(2).. Reading 20 (2). Real Siik Hos(4) Reld Ice Crm (8) Remington T(5) RemgnType cfs. Remingtn 18t(7) Remingtn 24 (8) Replogle Steel. . Rep Ir & St] 14). Rep 1 & S pf (T) Reynolds Spngs. Rey Tobac B15) Robt Rets & Co. Royl Dia) 33%) Rutland pf..... Safety Cable(4). ‘StL & SanFr(18) St L Southwest. Savage Arm: Schulte (3%)... Seaboard Air Lin Seab Alr L pt. 3ears R (n 2%). 3eneca Copper. .. Shattuck F G(2) Shell Un (1.40).. Sher-W1l pf (7). Shubert The (5) Stmmons (2)... Simms Pet(1%). Sinclatr Oil. ... Skelly Of) (2 South Port S (8) Sou Calif £4 (2) Sou Dairtes A(4) Sou Dalrles B... South Pac 16).. Southern Ry (7) Spicer MIZ . ...e Spicer pf (8).... 3td Gas & B g3, Std G&E pf(3).. StdOCali 2% ) Std O!LNJ(11%) Std 01l NY 1 60) 3td Plate Glass. SterlingPro(16). Stewart War (6) Strombg Car (2) Studebaker (5). Submarine Boat. Sun Of1 (11) Superior OIl. Svmington. Symington Telautogra (60c) Tenn Copper (1). Texas Co(3) .. Fexas Corpn (3) Tex Gulf Sul (4) Tex & Pacific. .. Tex PC&O(60c). Tex Land Trstn, Third Avenue. .. Thompson:3.60) Tide Water(13%) ‘Timk Roll B(18) Tobaa Prod (7). Transeont OY) Twin City R (4). 1!nderwood (4). Un Bag & Paper. Ulon Carb (6)... Unton Ol (123%) tIn Pacific +10). Un Pacific pf(4) (1ta Cigar S(c2) United Drug (9) Vrding 18t133%) Utd Fruft(15%) 36 994 57 T 129% 2T% 121% 91% 93% 45% USCIP&F(10) 2 118 Distributing U S Hoft (13%). U 8 Alcohol (5). S Realty (4).. 11 8 Rubber. ..., Rub 1st (8). Smelt (3%) Steel (7). ! S Steel w i U 8 Steel pf (7). iinfversal Pipe. Ut) PELt A (02) Vanadium (3)... VanRaalt 1st(7) Vick Chemical. , Vietor Tik Mch. Victor ov pf 16). Vietor pr pt (7). va Car Ch 6% ptf Vivadou (3).... Vulean Detin. Wabash.... . Wabash pf A(5). Wabash B(5)... Waldorf (1%) Walworth (1.20) Ward Haking B. Ward Bak of (7) Warner PlcA... Warren Bros(4). Weber +4) ..... W Penn El A (7) W Penn El pf(7) West P Po pf(7) West Maryiand, West Md 24 pf.. West Pac of West Unlon (8). 29% T2% 147% 36 99% 57% 129% 27% 121% 1% 93% 46% 72! 147 35 994 57% 129% 27% 121% 9% 93% 45% 126% 103's 178'% 43 31 51% 3% 103% 52% 51% 41 102% 7274 " T2% % 147% 14T% auspices of the American Bankers' Association, will'probably be attended by more than 1,000 delegates. The invitation was extended by floward Moran, president of the Dis- trict Bankers' Association and chair- man of the eastern regional savings conference, and Kobert V. Fleming, vice president of the District Banker Assoclation. The President was told that the object of these conferences I8 to stimulate Interest in thrift and ecouomy and to Increase an inte on tho part of the public in savings accounts. The sessions will bo held at the Willard Hotel, Banks: Report Extensive Assets. The Federal Farm Loan Bureau re ports the condition of the 12 F ul land banks at the close of business January 31, 1927, glving tota th of the banks s $1,171,067,026 and total labilities $1,100,598,566 Prined] items of assets Include net mortgage loans in the aggregnte of $1,085,170,117 and holdings of United States Government bonds ands F in the amount of $36,566, m loan _bonds outstanding January 31 were $1,084,856,035 and in. honds 5 846,621, Total net es of the banks to date were $44,485.91 Dividends paid to date are stated at $19,056,3 nings available ! tribution amounted to §: 0. al assets of the several joint stock land banks ave stated in the re- port at $688,060,845, against total iabilities of $631,335,029. Local Stock Offerings Planned. The North Americar Title Guaran- Co., of which Senator Edwards ia n of the board, is planning an carly local offering of stock, accord- ing to Murray Gidlin, of the Standard Co., 1010 Vermont avenue, fiscal agent. Mr. Gidlin has just returned from a conference with Mr. Edwards at Jersey City, and with other com- pany officials. = William E. Walter is president of the company; George C. Van Tuyl, vice president; John F. McCabe, * treasurer, and Russel R. Whitman, “secretary. The firm, which was organized year, intends to add two or more Washington bankers to the board of directors. New Real Estate Bond Ruling. At the close of a meeting of the board of governors of the Mortgas: Bankers' Association of Ameri held in Chicago, it was announced that a resolution had been adopted providing that the board in the fu- ture will refuse membership in the association to real estate hond houses that do not place with separate trus- tees the funds realized from sales of bonds issued against buildings in the course of construction. Local Securities Strong Today. Thirty shares of Riggs National Bank stock sold today on the Wash- ington Stock KExchange at 468, two points above yesterday's close. One share of American Security and Trust Co. sold at the high mark of 381, while in the unlisted department six :}lmé'es of Departmental Bank sold Washington Gas Light“was firm at 71%, Peoples Drug Stores preferred again sold at 109, Washington Rail. way and Electric came out at 91% and 10 shares of Merchants' Transfer and Storage preferred changed hands at 101%;. Trading was light in Capital Traction, five shares going at 1075, In the bond division ‘Washington Gas 6s, series A, stood at 104% and :ge Be(l‘)les P li)onds at 104%. George- wn Gas 58 in a small i ~ it sa]p register- Southern Dairies Sales Gain, The sales of the Southern Dairies, Inc., for the first two months of this year rose to $1,408,514 from $1,287,881 in the same period of 1926. Gross sales in February were $733,032, com- pared with $666,766 last year. The Stanley Co. of America, which is negotiating with First National Pictures and"West Coast Theaters Co. for a three-sided consolidation, has purchased the Bradder Pollock chain of seven theaters in northern New Jersey, through the Stanley-Fabian Corporaticn, a subsidiary. The Fox film Corporation has en- tered commercial production of “talk- ing motion picture” films through its subsidiary, the Fox Case Corporation. Personal and Other Notes. Frank Stetson, trust officer at the National Savings & Trust Co., has returned to his desk after a short trip to Pinehurst, N. C., where 72e went to enjoy a little Winter golf. He was Just getting his stride when along came a 154nch snowstorm, the heaviest downfall of the kind that the resort has experienced in years. George B. Chipman, resident partner of Harriman & Co., is on a brief visit to New York on business connected with the Washington office. Edward O. McDonnell, one of the partners in G. M. P. Murphy & Co., visited the local office yesterday. Herbert L. Davis, auditor of the Supreme Court of the District of Columbia, contributes a very interest- ing article to this month's Trust Com- panies Magazine on “Legal Account- ing in the Administration and Invest. ment of Fiduciary Funds.” The annual meeting of stockholders of the Pennsylvania Railroad Co. will be held April 12 in Philadelphia. Elec- tion of three directors to fill terms expiring this year will be held April 26. STOCK SPLIT-UP PLANNED. NEW YORK, March 9 (#).—The Bank of Italy National Trust and Sav- ings Assocfation, San Francisco, suc- cessor to the Bank of Italy, plans to split up the present $100 par shares into four shares of $25 par. Stock- holders will vote March 21 on a pro- posed increase in capital stock from $20,000,000 to $30,000,000. —_— WesthseAIrB(7) 151 152% 151 152% Westinghse (4). 72% 73 724 2% Weston Elec. Weston A (2)... White Eagle (2) White Mot 14) . ‘White Rock (12) White Sew M(4) Wickwire otfs. . Willys-Overland Willys Od pf (7) Wiison & CO...e Wilson & CotA). Wilson&Co of(7) Woolworth (5).. 124% worthn Pump.. 2T% Wright Aero (1) Yale & Tne (15). Yellow Truck. .. Yel Tr&Co pf(7) 98 Youngstn S&T 5 90% 91% Hourly Sales on N. Y. Market. 1lam 453.600 12a.. 819500 1p.m 1.051,500 2p.m 1292200 vidend rates as given in.the above table are e B, cash pavments based on the latest quarterly or half yearly declarations T ess otherwise noted extra or special divi dends are not inclu *Tinit of trading less than 100 shares stock mon siack © 4 Blas. 2/80 o d this vsarr;::nualfiuln l‘l,g]fl. Ten ver ced com u % %3 K3 u-r‘enr: Pl\l: 6:.?3.“{:‘ s 2y a sto < Pl i tock Plus in 5, ora 14D 818 far gl in_ 88 O/ m . Partly stock, D Plus $3 in preferred stock, G Pils one-hait of commgsy stock. [ovrev vore BONDS Received by Privats Wire Disect te The Star (%) This table carries quotations received up to 8:15 p.m. A com- plete table will be published in the 5:30 Edition. UNITED STATES. (Sales are (n $1.000.) Sales. High Low. LAb3%s... 29 10114 10113 Liblst4%s 57 103 30 10323 Lib2d 4%s 1000 10027 10024 Lib3d4ys 248 10112 Libath 4%4e 789 104 12 US3%s... 318 10519 TS 4s1944. 1SL 10819 US4%s52. 109 11318 2:58. 10113 103 30 100 27 10112 10412 105 19 108 19 11318 90% 9814 a8% 99% 98% ™% 104% 9% 100% 95% 100 104 102% 112 5 109% 104 95% 92% 97 106% 101 4 104% 101% 100% 3 108% 100% 98% 100% 108% 1089 108% 1044 102 1034 90% 98’y 99 99% 98% 98 105 94% 104 9578 100% 104% 102% 112% 109% Argentine5s...... Argentine 63 Ju 59. Argentine 6sOct59. Argentine 6s A. Argentine 63 B. Australian 5 Austria 78 Aank of Japan 6 Relgium s Relgium 6%s Belgium Ts. . Beleium 73 ct. Belgtum 7%8 Belgium 8s. Rolivia 8% Rordeaux 8. Brazil % RBrazil 1s Rrazil 8s. Canada 63 1531 Canada b8 1952 Canada 6%s 1929 Chile 78 1943, Chile 88 1941. Chile 8= 1946. Christlania 6s. Con Pow Japan 7s. “openhagen b8 Czecho 1%s rets. Czecho 83 1951. . Czecho 8s 1952 ct. Denmark 6. ..... DE15%s Mch 53, Dutch East 1 63 47, 1044 101% 100% 108 108% 100% 99 100% 107 109 108% 104% 100's 107 109 108% 104% FINANCIAL. STOCKKXCKANGEI Ofica a Sales. High. Low. 2:58. West Elec 5. Westn Unlon Westinghouse & Wilson & Co 1st 6s. Youngstn S&T 6s. . RAILROAD. 4 93% 93% 93% 4 9T% 9% 9% B &0 PLE WVa is Rklvn Manhat 8s. Buff R & Pitt 4158, Canad North 813, Canad Pac deb 4s. Can Pac 4%s 48. .. Car Clinch & O 5s.. Car Clinch&O 6s 52 Centof Ga 5%8. ... Central Pacific 4s. . Cent Pac 1st 58 90. Ches & O cv 4% Ches & Ogndys. . Chi & Alton 38..... Chl & Aiton 3%s. . Chi B& Qgn 48 53. Chl B & Q 1st rf bs. CB&Q-Tlldiv ds.. €h1 & E (1 en 68 51 Ch! Gt West 4a 59, CM&StP4s25... € M&S! P 45 25 cfs CM&StPgn89.. ~M&SPovalpailefs CM&StPenays. CM &St Prfske. ~M&SP v 5acfs 14 CM&SIPES ... | Chi & NW gen 4s. 95 100% 5 102% 102% 5 109% 109% 98 TH 1074 95 100% 102 101% 109% 109 Finiand 8 £ 63 45... Finland 7s. Framerican 7%s French 7s... French 7%8... French 88 Gorman E1 P 63%4s. German 7s.. Ger Am Bank 78... Ger Gen Elec 7s. Hait! 68 Holland- ltaly 7s . Japanese 100% 102% 101% 109% 109% 93 107% 10214 1027% 104% 104% 99% "100 98 98 94% 95 91% 101% 10 5% 9 Lyon 6s Marsellie8s....... Mexico 4s 10 asntd Montevideo 7s..... Nethertands 68 54, Netherlands 6s 72. Nord 6%8 Norway 5% Norway 63 1944 Norway 68 1962. Orfent Dev deb 6s. . Parts-Ly - Med 6 Parls-Ly Med 7s. Parls Orleans 7; 5% 95'% 23% 23% 100% 100% 103% 103'y 106% 106% 96% 96% 100 100% 102% 102% 102% 10214 96% 96% 92 92% 99% 99% 98t 99 4 100t 100% 821 2% 96 96% 1064 106% 105% 105% 1% 12 120% 120% 104% 104% 103% 103% 105 105 1044 104% 105% 105% 102% 102% 100 100 94% 94% 100 100% 103% 103% 113% 113% 99 99% 8% 8% 118 118 104% 104% 108% 109 95% 95% MISCELLANEOUS. Ajax Rubber . 9 106% 108 Am AgriChem7%s 3 104% 104 Am Repub d.b‘.b 35 lggy‘: lgg% 99%s R 18t 68 o st 1 104% 104% 104% 23 99 98% 98 18 103% 103% 103% 57 102 101% 102 27 106% 105} 106 Queensland Queensland 7 Rhinelbe Un 7s. -Rio de Jan 8s | Sao Paulo 8s 1936.. Sao Paulo 195 Saxon (PW) Serbs Crot Slo 2 o CLTR P AEICEPY Sw! Toho Elec Pow Tokio b8 Utd Kingm § Utd Kingm 5%s 3 © AmT & T deb 6%s Anaconda 1st §s. 29 1044 104 104 Anaconda cv db 7s. 33 108% 108 108% ‘Andes Cop 78 rets. . 32 108 107% 07 Armour&Co 4%srf 9 92k 924 924 Armour Del 5%s.. 20 95 94i4 95% Assoctated Oll 6s. 4 102% 102% 102% Atlantic Refin 5 2 101% 101% 101% 44 104% 104 104% 10 103% 103% 103% 1104 04 104 1101 10: 10L 4 99 99 99 3 102% 102 102 2 103% 103% 103% 7105 104% 105 3 158% 168% 1584 1100 100 100 Calif Pete 614s. 5 103% 103% 103's Chile Copper 6s 32. 40 110% 110 110 Con Coal Md 1st6s 22 80% 79% 80% ConGas N Y 6%s.. 20 105% 105% 105% Consumers Pow 6s. 27 103 103 103 Cuba Canecv 78... 2 99 99 = 99 Cuban Am Sug 8 1 108% 108% 108% Denver Gas bs 7 98% 98 98% Det Edison 5s 40 4 102% 102% 102% Det Edison ref 6 16 108 107% 107% Dodge w 1 7 93% 93 93 DugL&P5%s49. 2 105% 105% 105% Duquesne Light s 7 105% 105% 105% Einpire Fuel 6%s.. 9 104% 104 104% Empire G & F 7% 6 107's 107% 107% Goodrich 6%s. 3 106% 106% 106% Goodyear 8s 1931, 5 110% 110% 110% Hershey 6% 6 102% 102 102% Hoe & Co 8%8. 10 100% 100 100% HumbleO & R6%s 2 102% 102% 102% illinois Beli 1st 6i 5 103'¢ 103% 103% Lilinots Steel ¢ %8s, 4 97% 97 9% int Mer Marine 22 98% 98% 98% Teees 17 9TH 9TH 9T 3 101% 101% 101% 32 109% 109 109 o 1 104% 104% 104% 22 103% 102% 103 32 104% 104% 104% 8 994 9T% 984 11 117% 117 117T% 21 100% 100% 100 8 105% 105% 105% Beth Steel 5%8 53, Beth Steel fs . Brier H St 18t 5%s. Kelly-Spring 8s. Laclede G 6%s 63 Lorillard (P) 6s. _Lorillard (P) 7s. Loulsv G & B 68 52 Manat! Sug sf 7%s 5 Mid-Con 6%s 40 10 105 105 105 Midvale Steel 8. 4 98% 984 984 Po’ 12 101% 101% 101% 2 8% 89 &9 9 103% 103% 103% 1 103% 103% 103% 17 103% 103% 103% 15 115% 1156% 1156% 3 92% 92w 92% 6 106% 106% 108% 10 99 99 99 s 4 108% 108 108% N Y Tel 63 49. 1 110% 110% 110% Nor Ohto T & L. 1 97 97 97 Nor States Power 5 11 100% 100% 100% Nor States Pow 68, 2 105% 105% 105% 1 100% 100% 100% 13 102% 102 102% 1 101% 101% 101% 1 104% 104% 104% 1 101% 101% 101% 3 100% 100% L00% 1 103% 103% 103% 1 105% 105% 105% 6 105% 104% 104% 4 107% 107w 107% 5 104%°104% 104% 13 97 96l 97 14 100 99% 100 Remingtn Arms Stinelair Ol 6s. Sin Pipe Line 8. soulnvutN g.u 6s. 3 108% 103 103% 68 102 101% 101% Sug Bast Orl 1 99% 99% 99% Tenn Eleo Pow 6s. 105% 105% Poledo £dn 1st7s.. 16 108% 108% 108% United Drug 1 107% L07% L0T% U S Rub st rf68.. 22° 95% 96% 954 U 8 Steel st 58 9 106% 106% L06% Utah Pow @bt 68. 9 Vertiente® Sug 7t W Warner S ChiRys58 ....ce0 ChiRI&Pgnds.. ChiRT&Prfds... CHMTH&SESs Chi T H Inc 6s 60.. Chi Union Sta 5s 44 Chi & W [nd cn 4s. C& W I16s 62 CCC& St L Ss. Cnlo & Souv 4358, Cuba R R §s... Del & Hud 1st rf 48 Del & Hud cv 65 35 Del & Hud 5%S.... Del & Fiud 7s 30. Det United 4% Frie 1st cons 4 Frie gen 4s.. ErfeconvésA.. Erfeconv 4s B. Frle conv 4s D. Erie conv ext Ts... FlaBCH8T4 .00 Gr Trunk stdh . Grand Trunk 7: Gt Nor 4%s76 D.. Great North 5s.... Great North 6%s.. Gr Nor gen 7s. . 111 Cen 45 52. {11 Cen 4% 66 111 Central 5%s. 111 C-C StL&NO 63 int Rapid Tran 6s. int Rap T 58 stpd Kan City Term Lake Shore 45 28 Lake Shore ¢s 31 Louls & Na: L&N41%s2008. .. Louts & Nash 5%s. Louis & Nash 7. Market St 7s 40. prinssA. Mont Trm ref 5s 41 Nassau E Ry 4s 57, NOTex&M65sB. OT&M5%s.... Cen gen 3%s.. Cent 43 98. Cent deb 4s... Crfim4%s13 Centri6 N Y Cent deb NYCh1&StL 6% sA. NYC&StL6sA. NYChI&StL 5%sB. z zzz Y Y Y ¥ Y zz New Havenca N Hav&H cit 63 40. N Y Ont W 1st ¢s. Pennsyl 6s 64. Pennsyl 6% Pennsyl gol Pere Mar 1st 4s PCC&StL 5s B 16 Peo & E 1st 43 40 Port RL&P 7%s 46 Reading gen 418, Reading J C 4851 RloG W 1st 4s. Rlo G West ¢l 4s. R1Ark & L a%s.. StL IM&S 4829... St L IM&S R&Q 48 StL&SFpl4sA. " nc n 48 82, CShL 4%s TexArk F'S 6%s 60 Texas & Pacific 1st Chird Ave ad) 6s. . Fol Tr L&P 6%5 30 virginia Ry 24 5¢ Wi Western Pacific 68 Wheel & L Ecn 4s. Wilkes & B 1st & Wisconsin Cent 4s. 35 83 8 102% 102 102 3 111% 111% 111% 42 101% 101% 101% 1102 102 102 30 104% 104 104 1 103% 103% 103% 79% 8 94 93% 94 15 98 97Ty 43 1011 101 101% 41 101% 101 101% 23 105% 105% 105% 7 102% 102% 102% 6 108% 108% (08% 1R 93% 93 9% 5 22 98% 63 95% 33 96% 9 J 1 102% 102% 102% 2108 108 108 1105 105 2 1021 102 6 91% 94 105% 1 95 10 10: 195 19 81% 7 Y X 60 60% 3 ¢ 58% 59 8 103 1033 1 2 91% 91% 91% 15 104% 104% 104% 2 106% 106% 106'% 28 T4 T TT 4 894 89 78 9315 934 5 95! 10 91t 10 9 98 5 1044 108% 1044 11 103% 103 103 6 87ia ST 8T 18 105 1041 104) 4 104% 103% 10 3 109% 109% 109% 3 97% 9T 9TH 12 94% 941 94% 3 93% 93%h 934 12 121% 120% 121% 2 104% 104% 104% 10 108% 106% 1087« 5 91w 914 91 80% 944 814 3% 81 8144 79 92% 1 106% 106% 10 22 99% 99% 99% 1 107% 1074 10% GOVERNMENT BOND LIST STILL LEADER Liberty Exchange Offer Again Being Felt in Trading on Board Today. BY GEORGE T. HUGHES, Special Dispatch to The Star NEW YOR f the Treasury March 9.—7The offer to exchan dvance in & asury 4s and re was nothing was International Great Justme which at ¢ points. is now + pe It ustments nd some what higher prices wére realized for Denver and Rio Grande Western nd for New Haven Convertible 6s Erie Convertible “D” 4s were strong up nearly a point In the domestic list, Granby Mining 7s gained sharply on the conversion privilege. Warner Sugar 7s of 1954 were up nearly 2 points at_one time and were the leader among the sugars Cities Service Power and Light 6 wero in better demand. Local trac tions, on the other hand, were heavy and the oil bonds failed to part| in the strength of the market else. feature of importance in list was the interest taken the lkiat 7s with waTrants. Po land 8s sold off somewhat and ther was no improvement in Italian Ts in Italian Public Utilities bonds. B zil 6 range. - fluctuatedl through a narrow AMERICAN CIGAR CO. EW YORK, March 9 (#).—Améri- ar Co. earned $11.38 a share on 200,000 shares of common stock 38 9 9 11 103% 103% 103% 7 109% 109% 109% 64 114 1137% 113% 89 £9% 99 99 88 88 91% 91% 93 9% 97 974 7 102% 102% 102% 3 103% 103% 103% 8 76% 8% T8% 24 6% 76% 6% 4 ROW 80U 80% 9T 98% 9413 6% 524 92% uni 4 9 101% 100% 101% 5109 109 109 3 104% 104% 104% 4 97 97 97 6 99 98% 98% 9 101% 101% 101% 9 86 86% 86% 1 86 86 86 ‘316 100% 100% 100% 1 101% LOL% 10L% 1103 103 103 T6% T6% T6% 3 100% 100% 100% 9 107% 107% 10T% 2 9% 99% 994% 6 61 61 61 7 100% 100% 100% 1 105% 105% 105% 2 80% 80% 80% 15 9% 91% 91% 11 96% 96% 96% 2 9 98% 3 106% 106 1108 108 3 105% 105% 105% 1103 103 103 2 105% 105'% 105% 6 107% 107% 107% 26 92 4 113% 113% 134 1 107% 1077 107% 11 98% 98l 98% 1 107% 107% 107% 20 88 88'% 88l 25 102% 102%" 102% | 2 111% 111% 111%} 27 106'% 106% 106% 2 89% 89 891 4108 108 108 10 87% 87% 87% 2 107% 107% 107% 3 96 3 92 1 3 9 1 21 55 Y 25 100% 100% 100% 16 100 99% 33 97T% 974 13 95% 95% 93 94 94 7 89% 89% 8 1067 106% 106% 2 113% 113% 113% 5 120% 120% 120% 2 88 88 88 11 104% 104% 104% 5 105% 105% 106% 30 62% 61% 621 15 99% 99% 99% 5 9% 95% 95% Il 99% 99% 99% 13 101% 101% 101% 3 104% 104% 104% 10°101% 101% 101% 11 104% 104% 104% 9% 14 99% 99% 99'% 3 87w 87% 8% 6 80 79 80 82% 83 — BUTTER IS HIGHER. CHICAGO, March 9 (#).—Butter, higher; receipts, 6,324 tubs; creamery extras,- 51%asl%; extra firsts, 50%a5: 51; 48%a standards, firsts, 49%: seconds, 47a47%. Eggs, higher; receipts, 11,212 cases; firsts, 23%5a24; ordinary firgls, 22% Rate— Maturity. Nov. 1937.22 outstanding in 1926, against $11.50 3 000 shares outsanding in ' profit rose to $2,666,651 POTATO MARKET STEADY. CHICAGO, March 9 (®).—Potatoes —Receipts, 91 cars; on track, 200; total U. S. shipments, $13: supplies moderate, demand . good, market steady on russets, slightly stronger on round whites; Wisconsin, sacked, round whites, 2.00a2.20; mostly around 210; Idaho, sacked, russets, 2.80a3.0¢ 90a2.95, fancy, shade highes , sacked, Red River Onios, ‘nneso NATIONAL CITY DIVIDENDS. NEW YORK, March 9 ().—T} National City Bank declared an i terim dividend of 2 per cent, and the National City Co. an interim dividend of 13 per cent, the first disburse- ments to be paid on the increased capital of both institutions. They are payable April 1. - WOOL PRODUCTION UP. World wool production in 1926 was 3,060,730,000 pounds, it was calculated today by the Commerce Depart This represented an increase of 000,000 puonds over the 1 Australia gained 35,000,00 and the United States, pounds. - SHORT-TETM SECURITIES. ‘Reported by J & W Selicman & Co.) ——NOON =y T 18,000,000 Alum_Co of Amer. 7s 1 Am. Tl & Tel. Co 4% 1 Amiers bio, 6 Bell Tel. of Canada B L omiralony 8750 4 al ot Georsia te 1 chrdl & Sl e | City of ‘.‘_“l' A 54t Columbia Gas & 5 Continental G & € 35 1 gf:}n‘"”‘*’}cuf ‘SQE bs 1940 Coivear 1 Great Northern 7s 1930, . Co. Bles 1040 e f N Y| 63, 58 1933 nion Gil'of Eaur, 55, R_R. T N_Y it A Us s 3% Wheeling Steel C. 5l3s 1 FOREIGN EXCHANGE. (Quotations furnished by W.B Hibbs & Co.) ominal Selling checke London. 28005 $i%50, g0t pound Montreal dollar 99% | Pr: Stockholm. REW YORK, March 9 (#).—Forelgn exchanges firm. Quotations (in cents): Great Britain, demand, 484 5 v bills on banks, 480 France, demand, 390%; cables, 3911;. demand, 4.12; cables, 4.423, nand: Belgium, 13.90; Germany, 0%: Holland, Norwa 7; Sweden, rk, 26.62 Spain, " 17.14 11.50; Czecho- slovakia, via, 1.76; Aus- tria, 14.125; F 61: Argentina, 42.1215; .87%%: Tokio, 49.17: Shanghai, 61; Montreal, 99.811;. o FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Closing.) Avked. "m}{'ll 100 103 103 jo1 2238252, FRSSE I = e E2T, TREASURY cmmrénn:s. (Reported by J & W !lulllm“\ & Co.) T D ioaran 1001-32