Evening Star Newspaper, March 11, 1927, Page 14

14 HIGH-GRADE RAILS MARKET LEADERS IAtchison One of Outstanding Features—D. & H. Also Appears Strong. Special Dispatch to The Star. NEW YORK, March 1.—The buy- ing movement in tHe high-grade divi dend.paying railway shaves over shadowed everything else that hap pened in the Stock Market proceed ings today, although there were many ndustrial favorites which stood out strongly. Atchiso in history selling at its highest price was one of the outstand Ing features. The best opinion wi that the recent extra distribution o 75 cents quarterly will be continued and there was still the incentive of a prospective ex stock djstribution The basis for the buying of Dela- ware & Hudson appeared to be the benefits which stockholders are like 1y to receive from the coal properties. N. & W. Shows Big Gain. ‘With the railroads enjoving greatest era of prosperity, many tere of the opinion that the market for these stocks had not fully discounted the improvement in the outlook and earnings. Because of th» rhat Norfolk & Western traverses tion where it serves non-i it s felt that this road was in a position to benefit substantially us u | result of the soft coal strike At 1714 jt compared with the previous final of 368. . Lackawanna, Atlantic Const Line, Reading and Northern Tacific were other favorites. There was nothing in the prelim- dnary report of Gulf, Mobile and Northern to explain the spectacular rise in that stock. Above 60 it com- pared with the previous close of 54%, and was one of the features of the lower priced issues. Rock Island, de spite the fact that it was selling ex the $1.25 dividend, established a new high for the year. Bangor & Aroos took also reached its best figure. XKansas City Southern and Missouri, Kansas and Texas resumed their up- ward movement The market for motor*shares was fess prominent. General Motors was selling a point higher most of the time, while Hudson fluctuated over a narrow range within a fraction of the Thursday final. Stewart-Warner felt the effect of short cevering, which helped to sustain the price around the prevailing level. ‘While previous upturns in shares of food companies have been accom- panied by merger gossip, there was norhing along this line to account for the better demand at rising prices for such issues as National Biscuit, up over 2 points to a new top; Loose- Wiles, up similarly, Postum Cerea and Beechnut Packing. 3 Amusement Shares Up. Shares of companies representing their FINANCIAL. THE EVENING STAR, WASHINGTON, D. C. FRIDAY, MARCH 11, 1927. CAPITAL TRACTION STOCK HITS NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office Open theh Low Close 89 90k 89% 904 135 135 185 135 4% 4w 4% 143 146% 148 %‘« U 1% 98 98 Abitibi Pow (5). Adams Bxp (6). Ahumada 160¢c) Alr Reductn(t6) Ajax Ruber ... 1% Albny Pap pf(7) 98 9 9 All Am Cable(7) 170's 170's 169%, 169% Allince Rly 3% 50 50 50 50 Allied Chem (8) 141 142% 140 1424 AlllsChalm (6). 96 96 95 96 Allis Chal pf (7) 110% 110 110'% 110% Amal Leatk Ta 181 1T 184 Amerada (2) 3% 32% 33% Am Agricul Chm 2% 11% 12 Am Agri Ch pf. 40 39w 39% Am Bank N (2). 474 4TH 4TW Am Bk Not pf(3) 5By 58 b8l Am Bosch.. ... 5% 154 15% 154 Am Brake Sh(6) 150 150 146 Am B Shoe pfi7) 125 125% 125 Am Br Hov BI(2) 32 82 32 Am Can (2). 481 43w 4T4% Am Can pf (7).. 129% 120% 129% (29% Am Car&Fdy(6) 103 103w 103 103% amn A (2). 30% 30% 304 30% Am Chicle (3) 460 dbn 464 Am Drug. .. 104 10% Am & For Pow. . S 21 Am&Fo Po pf:7) 91 Am Hide & Lea. 8% Am Hide & L pf. 514 Am Ho P(2.40), Am Ice (110)... Am Internatl(2) Am La Fr(1)... AmLinseed. 23 Am Linsd pf (1) 51% Am Locomot (8) 111 Lll% L10% L10% Am Metals (3).. 4l% 414 4Lk 4l Am Piano pt (7). 104% 104% 104% 104% Am Po& Lt (1) 584 584 B 4 Am Radlator(5) 117% 119% 117 Am Republic.... 45 46 46 Am SafetyR($3) 524 524 524 524 AmShip& Com. 4w 4% 4w 4% Am Smelting (8) 130 150% 149 149% AmS & Rpf(7). 1204 120% 120 120% Am Snuff (12).. 125% 125% 125% 125% Am Stl Pdys (3) 45% 45% 45 454 Am Sugar (5).. B3% Bdk 834 ¥in Am Sumatra.... 51 5l's 49% 50 Am Tel & Tel(9) 159 150 153 15) Am Tobacco B(8 121 121% 121w [21% Am Tobac pf (6) 113% 113% 113y 113% Am W W (c1.60) 7% 774 76 % Am Woclen..... 23 23 2I% 224 Am Wool pf (7). 70 70 67% 68 Am Zine pf.. 49% 49w 484 48% Anaconda (3). 464 47 46 47 Archer-Dan (3). 40% 40% 40 40 ArmourDel pfi7 94'a 94 94ty 94% Armour of IIl(A 13 13% 13 13% Armourof LI(B 7% 8% T 8l Armour Il pf(7) 83's 83% 834 B83% Art Metal (11%) 25 25 25 25 AssoDry G(2%) 43 43% 43 43 Atchison (17%) 174% 181 174% 180 Atchison pf (5) 100 10) 93% 100 Atlant CL (18). 189 189% (89 1894 AtlGuif & WI.. 31a 34 31w 32w Atlantic Refing. 114 118% L14% 15 Atlan Ref pf (7) 118 118 118 118 Austin-Nichols. 7% 74 T4 T4 Baldwin Loc(7). 188% 188% 185% 185% Balto & Oh (6).. 113% 113% L12% 114 Bang & Ar (3).. 65% 66% 62% 64 90'9 8% 5l 39 8 23 2 654 5i's 55 Bang & Ar pf(7) 108'% 108'4 108% 108% Barnet Leather. 49% 49% 494 494 BarnsdallA(2%) 33 33% 32 324 Barnsdall B(2%) 31 314 30% 30% Bayuk Cigars .. 55% 55 544 544 Beech-Nut (13). 5T% 58% 574 58 Belding Bros (2) 24% 24% 24% 24w Bethlehem Steel 50 50% 49% 49% Beth Stl pf (7). 106% 107 106% 107 Bon AmiCl A(4) B5% b55'% 55% B55% Booth Fisheries. 6% 6% 6 6% the amusement industry held their place of prominence, notably Shubert and Loew’s, Inc, the latter at a new high for the year. The equipments were moving forward with the rail- ‘way shares, with special strength at new high prices in American Brake Shoe. Baldwin Locomotive and Gen- eral Railway Signal were up a point or_more. Kelly-Springfield was a leader among law-priced industrials, possibly influenced by the better outlook for rubber and tire Industry. BarnsdaM ration issues and Midcontinent Petroleum did not respond appreciably to the favorable dividend action an- nounced after the close of business . Thursday. Phillips Petroleum came in for more attention at rising prices and the market for General Asphalt ‘was streng. Federal Mining and Smelting con- tinued to feature the metal group, making further response to the high- ly favorable report for 1926 opera- tions. American Smelitng was well maintained at the 150 level. The cop- pers, however, did little one way or the other. MERCHANTS & MINERS’ LINE HAS GOOD YEAR Special Dispatch to The Star. BALTIMORE, March 11.—The re. of the Merchants and Miners’ ‘ransportation Co., covering opera- tions for the year ended December 31, 1926, just made public, shows net in- come of $971,202.33, equivalent to slightly more than $4 a share on 242,- 272 shares of no par value stock out- standing, This compared with $1,045,- 778, or $6.10 a share, earned in the preceding year. With one exception—in 1925, the Florida boom year—earnings in 1926 were the largest in the 75 years of the company’s existernce. i AR CHICAGO LIVE STOCK MARKET CHICAGO, March 11 (United States Department of Agriculture).—Hogs— Receipts, 14,000 head; very uneven; hogs, 225 pounds down and pigs, mostly 10 to 15 higher; butchers, 250 pounds up, steady to 10 higher, de- pending on outlet; packing sows, steady to strong; early top, 12.30 paid for 140 to 150 pound weight; bulk, de- sirable 140 to 200 pound averages, 11.85a12.15; 210 to 250 pound butchers, 1150a11.90 largely: 260 to 320 pound offerings, 11.25a11.65; packing sows, mostly 10. pigs with finish, mostly 11.90a1 lighter weights, 11.50a11.85; heavyweight hogs, 11.25a 11.60; medium, 11.45a12.10: light, 11 50 light light, 11.40a12.30: packing vs, 10.15210.85; slaughter pigs, 11,40 a12.25. Cattle—Receipts, 2,500 head; gen- erally steady; best fed steers,” 12.70; t, 1,472 pounds: few 5. according to weight and condition; few loads warmed up light offerings downward to.8.75 and below; most yearlings, 11.00; light heifers, 7.50a9.00; some easiness on heavy heifers d heavy cows; most vealers, 10.00a11.50; to outsiders, 13.00 a14.00. Sheep—Receipts, 9,000 head: opening slow, fat lambs steady to 15 lower than yesterday’s close; choice handy- weight lambs to shippers, upward to 15.50; early bulk wooled offerings, 14.75a15.25; heavy lambs, 14.50a15.00; good 89-pound lambs, 13.25; culls, steady at 10.75a11.75; sheep, un- changed; medium to good fat ewes, $.00a9.00; feeding and shearipg lambs steady; medium to good kind steady, 13.75a14.50. WORLD ZINC OUTPUT. NEW YORK, March 11 (#).—Febru- | ary zinc production in the United States Is placed at 51,341 tons by the American Bureau of Metal Statistics 17,464 tons in Belgium, 5,087 in Can- ada and 518 tn Mexico. i Harold J. Abrams has been elected a trustee of the Texas Pacifis Land Trust, succeeding W. Forbes Morgan, Tesigned. €onsolidated Laundries Corporation reports net income of $1,055,290 for 1926, equal to $2.92 a share. Structural steel orders placed in the st week aggregated 16,000 tons, the ywest in some time, and compared a7ith 75,000 tons the week before. YFending inquiries total 28,000 tons, ‘Washington Oil Co., declared a Botany C Mills A 25% 25% 24 24 Briggs Mfg (3). 34 34 334 334 Bkin-Edison (8) 152% 1524 152% 1524 Blkn-Mn Tr (4). 67% 67% 67% 67% Brunswick B(3) 32 32 32 32 Bronswick Ter, 10% 10% 10% 10% Buff Roch&P(4) 111 111 110 110 Burns Bro (10). 115 115 115 115 BurnsBrB (2). 25 25 24% 244 Burns pr pf (7). 116% 116% 116% 116% Burroughs (3).. 93% 931 93l 93% Bush Terminal. 43% 44 .43% 43% Bush Trm pf(7). 109% 109% 109 109 ButtekSuper(2) 11 a1 M Butte Cop (50¢c). 3% Butferick (m2). 63 53 Rver &Co...... B @ T4 718 By-Products Calif Packg (4). 66% 66% 66% 664 Calif Petrol (2). 29% 30_ 20% 29% Callahan Zinc... 2 2% 2 2 Calumet & Ar(6) 67 67 67 67 Can Dry (c2%). 41% 42% 41% 424 Can Pacific (10). 186% 1874 185 185 Case Threshg (6 153 155 153 153% Central Alloy(2) 26% 26% 26% 26% Cent Leather... 9% 9% 9% 9% t Leather otfi 9% 9% 9% 9% Cent Leapfeotfs 60 60 59% 59% Cen Ry NJ(t12) 295 296 205 293 Century RIbM.. 15% 15% 15 15 Cerro dePas(t5) 63~ 63% 62% 634 Certain-Teed(4) 47% 484 474 48 Chandler pf(2%" 22% 22% 22% 22% Ches & Ohlo (8). 157% 166% 157% Chi & Alton. 7% Chi & Alton p! Chl & Bast T1l... 33% Chi Great West., 1% Chi Gr West pf. 29 Chi MII&SEP. ... 13% Chi MII&SEP f. 2L C M&StP pf cf! 20% 204 Cht & Nwn (4).. 83% 821 831 Chi Pne Tool (6) 132 131% 131% Chi Rock Is (5). 84% 82% 83% CRI&PDf (6). 98% 9Tl 984 CR1&PDF(T). 107 107 107 ChiStPM&O.. 60% 60% 60% Childs (12.40)... 50 50 50 'hile Cop (2%). 36 35% 36 Chrysler Corp(3) 43% 42% 424 Chrysler pfA(8) 105 105 105 City Stores (B). 42% 42% 42% Cluett Peab (5). 64 . 64 64 Coca-Cola(+7%) 193 191 192% 83 81% Sl% Collins & Afk(4) & 1f 60% 59% 59% R5% 854 856% 101% 101% 101% 101% 80% 80'% 80% 80W% 18% 18% 18% 18% 52 52 504 b50% 92 3 92 93 267% 267% 263 265 20% 20% 19% 19% 544 b54% 64 Ba% 81 81% 9% 94% 3% W 2% 3u 574 q 02 92 92 69% 69% 68% 68% 137% 137% 137% 137% 1% 1% 1% 11% 58 53% 62% 52% 68% 68l 68 68% 94% 94% 91 91% 47 6% 46% 324 32% 824 25% 25% 25% 25% 52 524 2% 52% Cushman's ($8). 105 105 105 105 Cushman pf (8). 108 108 108 108 Cuyame! Fruit.. 30% 31 30% 8L Davison Chem.. 28% 28% 28% 28% Deere&Co pf(7). 106% 106% 106% 108% Del & Hud (9).. 182l 183% 182 183% Del L & W (#7). 149% 151 148% 150% DRGWstpf... bd 55 5% 55 Detrolt £4 (8).. 138% 138% 138% 138% Diamnd Mtch(8) 118% 118% 118% 118% Dodge BrosCLA 24% 24% 24 24% Dodge pf (7).%. 82% 82% 82 | Dome Mines (2) 8% 8% 8% 8% Doug Pect(12%) 59 59% 58 59 Dupont (8). 199 199% 195% 195% { Du Pont deb (8) 108% 108% 108 108% 134% 138% 25 | Eastman (f8)... 134% 139% Eaton Axle (2).. 25 2564 Eisenlonr & Bro 13% 13% Bt AutoLt(16%4) 76% T76% Electric Boat. .. 16% iZlec Power & Lit Elec P&L pE(7). Eleo Refrig (2). Elec Sto Bat( +6) Emmerson Bt ct nd-John (6)... Engineers P 13% ‘21% Col Carbon (4).. Com Credit (1), €om Inv (3.60). Com In Tr pf 6% Com Solv B (8). Congoleum N... Cong Cigar (1) Con Cigar (7).. Consol (Gas (5) Cons Gas pf ris ConRRCuba pf 6 Consol Textile. . Cont Bake A (8) Cont Baking B.. Cont Buk pf (8). Cont Can (5) Cont Insur (6! Cont Mot (80¢). Corn Prod (2% Coty. Inc (5)... Crucible Steel (6} | Cuba Cane Su of Cuba Compy (3) Cuban Am 8 (1). Cudahy Pkg (4). Famous P} (j8). 112% 112% 110% 110% dividend of $2 a share, payable March £1 to stock ef record March 14. A dividend of $4 was pald Decemby Famous ptf (8).. 120% 121 120% 121 High Low “ed Min pf (7). 92 Fed Mot Tif80¢c) wirst Nat S(1%) Fisk Rubber. ... 19 7 18% €isk 1st of (7).. Fisk 1st pfev(7) 100 100 Flelschmann(3) 51% 51% “oundatton (8). 79% 80 9 Fox Film A (4). 684 68% 68% Freeport Tex (2) 44% 46. dd% Gabriel Sn (3%) 30% 30% 30% Jen Am Tnk «¥) 49% 49'% 49% (3en Asphalte . 93% 93% 90%, Gen Bake of (8) 123 124 1224 Gen Cigars (4). 53% 53% H3% Gen Blee (h3).. 85% 85%W R4Y% fienElec spife) 11% 11% 1% n Gas Arel %) 43% d4% 43% Gen Motors (8) 172 172% 170 Gen Mot pf (7). 1184 118 118'% Fen Outdr Ad(2) 42% 43% 42% GenOutdr A (4) 57'% 57% 5KTw Gen SIg (5). 113% L13% 109% 31imbel Bros. Al'% 41w d1% ‘INAden (2) 21% 21% 204 old Dust . ‘e 434 oodrich Ru (4) 56 Goodyear pf (7) 102'% Gothm S H(2% ) Gotham 1st (7) Gould Coupler A Granby Consol. Grt North pf (5) Gt Nr Orect14%) Grt Westn Su (8 116 Green Canan .. 39% 40 Gulf Mo & Nor.. 56 68 GuM& Npf(6) 110% 110% Hanna st pf. ... Hartman A(2).. Hrtn B b10% stk Have Bl ctfs (6) Helme Geo (4).. Houshld P (33) Houston O11.... Howe Sound(4) . Hud Man (2%). Hudson Mo(3%) Hup Mot (1.40). Hlinots Cen (7)., 1 indep Of1 ¢1) .. ‘. Indian Mot (1%5) 14% Indian Refining. 10 104 IndtanRefg ctfs. 9% 10% Ind Ref pf(7)... 110% 112 Inland St (23). 2% 424 Inspiration (1). 0% 204 Interboro Rap Tr 47% 48' Intcl Rubber (1) 14% 14% Internat Agrl... 8% 8% InAs Cprpf(7) 554 b55% Int Bus Ma (4). 60 - 604 Int Cement (4).. 514 5lk Int Cement pf(7) 106% [06% Int Com Eng (2) 57% 58y Int Harv (J6)... 160 161% Inter Har pf (7) 128 1284 IntMtch pfi3.20) 634 63 Int Mer Marine. 74 714 Int Mer Mar pt. 42 42 Int Nickel (2) 41% 4l% Int Paper (2)... 584 59 Int Paper pf (7). 99% 99% Inter Salt (6)... 70 70 Intl Silver (6).. 144% 145% Intl Silver pf(7). 112 112 Int Tel & Tel (6) 130% 130% Intertype (t114) 23 23 Towa Central... 2w 3% Island Grk (24). 248' 248'% Jewel Tea...... 59% 59 Jones Bros Tea. 16% 16% Jones & Lau (7) 119% 119% Jordan Motor... 18% 184 Kan City South. 51% 52% KanCSopf (4). 65% 667 Kayser J (4). 51 52 Kelly-Spring... 18 20% Kelly Tire 6% pf 60 65 Kelly Tire 8% pf 54 62% Kelsey Wh (6), 80 80 Kennecott C (6) 62% 627% Keystone T & R. o, PR Kinney pf (8)... 81% 82 Kresge S8(1.20) 49% 50% Kresge SS nf(7) '113% 113% Kresge DeptS.. 15% 154 Kresge DS pf(8) 74% 74k KressSH (1).. 173 T4 Kuppenheim(2). 39% 89% Lambert Co (5). 69% 69% Lee Tire & Rub. e Th Lehigh Val(3%)" 117% 119% Lehn&Fink (3). 35% 35% Life Sav (1.60). 24 24 Lig & Myrs(f14) 93% 94 Lig & My B(ft4) 93% 93% Lima Loco (4).. 70 Liq Carb (3.60). 53 Loew's Inc (2).. 61% . % ) 162 Loose W 2d (7). 157 Lorrilld b8% stk 29 Louistana Oil... 15 LaOil pt (6%).. 97 97 LouisGasA(1.76) 25% 25% Louls & Nash(7) 136 136% 136 McCroryB(11.60) 58 58 58 Mack Trucks (6) 106% 106% 104% Macy H R&Co. 138 138 Magma Cop (3). 35 3 Mallison pf (7).. Man EI Sup (5). Manila El (2%). Maracaibo Oil... 18% 18% Market Street, 5 5 Marland Oil (4). 54w b54% Marin Rock 123 3415 34 344 Martin-Pary(2). 22% 22w 22 Mathieson (4).. 100% 102 994 Mathieson pf(7). 106% 106% 106% May Dept S (4). 704 71 0% Maytag Co(12%) 26 26% 26 MetroG pf(1.89) 25% 25% 256% Mexican Seabd.. 8k 84 84 MiamiCop (1).. 16% 16% 16% Mid-Continent.. 37w 37% 37% Middle States. 2% 2% 2% Mid States Ot 1% 1% 1% Minn & St Louls. 2% 3% 2% Minn & St Let.. 2 2% 2 Mo Kan & Tex.. 39% 40% 39 Mo K & T pf (6) 100% L01% 100% Missouri Pacifio 51% 52 51 Missouri Pae pf. 100% 101% 100 Montgmry Wi4) 674 67Tn 66% Moon Motor.... 9 9 9 Mothr Lode (75¢ 4% Motion P16 (1).. 10% Motor Met(3.60). 36 Motor Whi (2).. 2 Mullins Body Murray Corpn. Nash Motor (4). Nat Acme (sta). Nat Biscult (5). . Nat Cash R(A)3 Nat Cloak & Suit Nat Cloak pf (7) Nat Dairy (3)... 2% 27 2T, 26% 106 1 8l 35% 87% "7 110'% 62 25% 2% 22 284 14% 248'% 584 16% 119% 18 113% 15 T4'% 14% 97 25% 66% 24 Nat Lead pf (7). 118% NatPwélLt(80c) 20% Nat Supply (4). 93 Nat Surety (10). 251% Nat Tea (4). 121 Nevada C (1%). 14% NOTex& M (7) 134 N Y Air Br (8).. 45% N ¥ Canners.... 164 NY Central (7). 143% NYC&SLL pf(6) 102% NY Dock. . 40% NY NH&Hart... 52% NYOnt&w (1) 29% NY Ryspartcfs 1di Niag ' pf (1%). 28% Norfolk South.. 4d% Nort & W (8)... 169 NthAm b10% st 48% North Am pf(3). BL% NorAm Ed pf(7) 98% North Pac (6)... 87 Norwalk Tir 5% Nunnally (1.50). 12% 12 Omnibus.....e0 Omnibus pf (8). 82 Opnhm, Col (4). 65% Orpheury Cir(2) 33% Otis Elevator (6 108% 109 Otis Steel...... 9 10 Ous Stl prior(7) 74 74 Outlet Co (8)... 5T% 59% Outlet Co pfA7). 107% 107% Owens Bot(Ct5) 82% 84 Pac Gas&El new 32% 382% Pac Ofl Stubs... 1% 1% Pac Tel & Tel(7) 125 125 Pac Tel & Tel pf 103% 103% Pac Tel&Telrts, 9% 9% Packard (12.90). ge Motor. Pan-Am (6 Pan-Am B (8) Pan-AmWnB(2) Panhandle...... 33% 108% 9 3 57% 107% Bly 32% 1% 125 103% M 854 9% 62 41% 41% Fed Lt&T(k1.40) 42 42 99% 109 Fed Min & Smelt. 99% 109 Park Utah(80¢) . Patino M (a%7c). 25% Close. 92 68% 46 30% 499 91% 122% T% 41% 41% 3 99% 70 1431 112 128% 23 3% 443% 26 84 16% 3w 2% 1 3% 2% 39l 101% 52% 100% 67% 9 109 9% 73 59% 107% 8% 32% 1% 125 103% 9% 35% 9% 62 62% 30 14% Tk 25% BY EDWARD C. STONE. Capital Traction stock reached a new high mark on the Washington Stock Exchange today, when it opened at 108, dropped to 107%, and closed back at 108, 70 shares chang- ing ownership during the session. Washington Gas Light stock was also strong, opening at 71% and clos- ing at 7 77-share turnover. American 381, but Pofomac 3 closed half a point lower. Electric preferred sold at and 60 shares of Lanston Mon- otype at 93%. Barber & Ross common came out at 37%. The first sale in Southern Building in a long time was noted when a $300 block of the bonds brought 981, Railway & Electric 4s sold at 8413, Chesapeake and Potomac Telephone 5s at 100%, while Potomac Electric Consolidated 5s sold at 101. The same mpany’s first 5s_came out at 100% Washington Gas 6s appeared on the board at 100%. The board of governors met after today's trading session, and voted to list for trading tomorrow $300,000 7 per cent cumulative preferred stock of the Chevy Chase Dairy Co. New Move in Rail Merger. A new intervention in the Chesa- peake & Ohio merger plan was filed at the Interstate Commerce Commis- sion today in behalf of the Detroit & Mackinac Railroad. The company declared Itself inter- ested in the proposal of the Chesa- peake & Ohio to purchase control of the Pere Marquette and Erie Rail- Pathe Ex (e3).. 41 Peerless Mot. .. Penick&Ford (1) . Penn C & Col Pa Dixie Ct(3.20; Penna R R (3%) Penn-Seab Steel Peorla & East. . Pere Marq(18). Pere Marq pf(5) Phlla Co (4).... Phila& RC&1.. Phila&RC&]1 cfs. Phillips Pet (3). Pierce Arrow... Pierce-Ar pf (8) Plerce Oil Plerce Petrolm. . Pitts Coal pf. Postum (5).. Pressed Stl Prod & Refinel Pub Serv NJ (2) Pub Serv pf (6). Pub S NJ pf(7). Pub SE&G pf(6) Pullman Co (8). Punta Alee Sug. Pure Ol (12)... Purity Bak A(3) Radio Corp of A. Radio C of (3%) Ray Copperi25e) Reading (15)... Reading 2d.(2). Real Silk Hos(4) Real Silk pf (7). Remington T(5) Remingto 18t(7) Raplogle Steel. . Rep Ir & Stl (4). Rep 1 & S f (1) Reynolds Spngs. Rey Tobae B(5) Royl D(al1.33%) Rutland pf... Safety Cable(4). St Joseph Ld(13) StL & SanFr(18) St L Southwest. St L 8wn pf (5). Savage Arms... Schulte (3%) Schulte pf (8)... Seaboard Alr Lip Seab Afr L pt... Seagrave(el.20) Sears-R (n2%). 3Seneca Copper. .. Shattuck F G(2) Shell Un (1.40).. Shubert The (5) Stmmons (2)... Stmmons pf ‘?. )es Skelly Oil (2) South Port 8 (6) South Por pf(8). Sou Calif Ed (2) Sou Dairles A(4) Sou Dalries B... South Pac (6)... Southern Ry (7) RaGas & Std G&E pf(3) .. Std0ilCal(12%) Std OLLNJ(11%) Std O1l NJ pf(7) Sta' 01l NY(1.60) Std Plate Glass. St Plate Glass pf. SterlingPro(16). Stewart War (6) Strombg Car (2) Studebaker (5) Submarine Boa! Superior O1l. Superior Steel. Svmington. . Symington Cl A. Tenn Copper (1). £exas Corpn (3) Tex Gulf Sul (4) Tex & Pacific. .. Tex PC&O(60¢) . Tex Land Trstn The Fair (2.40). Thompson(3.60) Tide W Ofl pf(5) ‘Timk Roll B(16) Tobac Prod (7). Tob Prod A (7). Transcont Ofl. Uion Carb (6)... Union Ofl (12%) Un Paclfic (10). Union Tank (5). Utd Cigar S(c2). Un Cig St pf(7). United Drug (9) UtdDrg 1st(3%) Utd Fruit(t6%) USEIP&F(1V) 2 U S Distributing U S Hoff (13%). S Alcohol (5). Ind Al pf(7) Realty (4) Rubber. Rub 1st (8). Smelt (3%). Steel (7) 1 S Steel pt (7). U S Tobacco(3). Universal Pipe. Vanadium (3)... Raalt 18t(7. Vick Chemical.. ' Victor Tlk Mch.. Victor ov pf (6). Vietor pr pt (7). va-Car Ch 6% pt Va-Car Ch pf (7) ccccaceac BRELRBLR = g ] Wabash........ Wabash pf A(5). Waldorf (1%).. Walworth (1.20) Ward Baking B. Wward Bak of (1) Warner Plo A, .. Warren Bros(4). Weber (4)...... W Penn El ) W Penn El pf(7) West P Po(6)... West P Po pf(7) West Maryland. West Pacific.... ‘West Pao pf (8). 30% 31% 0% 0% NEW HIGH ON EXCHANGE TODAY Street Railway Shares Go to 108 in Trad- ing on Local Board—Chevy Chase Dairy Listing Voted. roads and will be permitted to present evidence and argument. Registration Committee Named. The full membership of the regis- tration committee in cornection with the regional conference of the savings bank division, American Bankers' Association, which will be held in Washington April 7-8, has been an- nounced by Howard Moran, president of the District Bankers' Association and chairman of the general com- mittee. George O. Vass, vice president Riggs National Bank, has been chosen chairman; Bruce Baird, National Sav- ings & Trust Co., vice chairman, and the following: F. H. Cox, Commercial National Bank; ™. J. Groom, Washing- ton _Mechanics Savings Bank; T. Hunfon Leith, Secufity Savings & Commercial Bank; I. J. Roberts, Riggs ational; C. W. Shoemaker, Potomac Savings Bank, and Robert S. Stunz, Park Savings Bank. Made Clearing House Member. arry V. Haynes, chairman of the Washington Clearing House Associ tion, reported that the Central Sav- ings Bani has been admitted to as- sociate membership in th> association. This bank was opened for business on May 27, 1925. and has enjoyed healthy growth since that time. Pres- ent canital is $200,000 surplus while deposit:. at th close of business yes- v totaled over $590,000. On March 6, resources was placed at $913,941. 2 The bank's officers are composed of Francis M. Savage, president; Charles W. Morris, vice president; J. William Roberts, cashier; C. Edward Way, as- sistant cashier and new business man- ager, and Dion S. Birney, counsel. The senior officers and the following com- prise the board of directors: Gregg C. Rirdsall, J. Floyd Cissel, B. H. Grover, Franklin_ W. Harper, Jesse H. Hedges, Judge George H. McDonald, Carden F. Warner, Milton Strasbur- ger and Paul Lesh. Sweeping Bond Gains Noted. Brown Brothers & Co. have issued the ninth_edition of their booklet, “Foreign Dollar Bonds,” which this year gives a brief account of nearly 300 issues of foreign governments, municipalities, states and corporations. In the foreword of the booklet it a list of 20 government bonds, showing the January prices in the last four years and illustrating the great change that has come over the dollar bond market in that period. In 1924 these 20 issues represented an average price of a little under 95%, and in January, 1927, 103%. Decline in Income Forecast. Primary income during the next six months will be slightly lower than in the corresponding period of 1926, the Brookmire Economic Service, Inc., pre- dicts in a study of business conditions. As a result the volume of trade will not continye much longer making,new high records. An increase is reported in mining income over January, 1926, owing to great activity in coal and oil, and a seasonal expansion in gen- eral business is anticipated 'this Spring. These increases, however, are not expected to offset the lower farm income, a decrease in building activity and business profits, and an antici- pated decline in industrial employment, ‘which will probably not reach last March’s high, when factory pay rolls amounted to $1,158,000,000. Fifth District Discounts Lower. Easy money conditions were fur- ther emphasized by the Reserve Bank' statement today which showed a fur- ther decline in bill holdings of the system as a whole. Rediscounts of all 12 banks combined were reduced $18,- 705,000 in a week, while bills bought in the open market were about $25,- 000,000 lower. Discounts in the local fifth district also were lower at $23,- 187,000, compared with $23,597,000 the week before. . Note circulation at the Richmond bank stood at $73,376,000, against $73,- 346,000. Member bank deposits totaled $70,313,000, a gain of $429,000 in a week. ‘The Richmond ratio stood at 78.09 per cent, compared with 76.66 in the previous week, and that for the entire system at 79.7 against 78.5 per cent. Dairy Merger Announced. Chestnut Farms Dairy, Inc., has taken over the Guernsey Dairy Co., the merger to become effective at once. In connection with the pur- chase it is announced that the per- sonnel of.the Guernsey Dairy will be retained by Chestnut Farms. While the amount of money involved in the transaction has not been stated, it is said that no additional financing will be necessary. Today’s Financial Notes. The stockholders of the Second Na- tional Bank will vote next Tuesday on the directors’ proposal to increase the capital $250,000, making it total $750,000. George B. Chipman, resident partner of Harriman & Co., has returned home from a short business trip to New York. Trust Companies Magazine for this month contains a picture of President John B. Larner of the Washington Loan & Trust Co. and refers to the bank’s buil'ding expansion now in progress. Liggett’s February sales were $4,- 510,473, against $3,769.949 ‘n February last year. Sales for the first two months this year totaled $9,282,917, against $7,664,872 a year ago. Local bankers are just swamped with work making out income taxes for their depositors and the Govern- ment experts at the banks are alse kept working at top speed. Next Wednesday is being eagerly awaited. The local institute's three forum dinners have been so successful that it has been decided to add one more similar meeting, to be held some {ime in April. —————————e—————— WesthseAirB(7) 152% 154% Westinghse (4)., 72% 7% Weston Blec. Wheel & L Erl White Bagle (2) White Sew M(4) Willys-Overland Willys Od of (7) Wilson & Co. Wilson & Co( Wilson&Co pf(7) Woolworth (5).. Wortho Pump. . Worth Pump(B) Wright Aero (1) Wrigley (13%).. Yellow Truck. .. Yel Tr&Co pf(7) Youngstn S&T § Hourly Sales tlam 535300 1p.m. 1,278,400. than 100 stock, FINANCIAL. [ s BONDS o] NDERTONE FIRM Recelved by Private Wire Direct to The Star Offica, UNITED STATES. (Sales are (o $1000. Sales. High. Low. Lib3%s 101 10 101 Lib1st 4 Lib2d 4% Lib3dek%s 1 Lib 4th 4%s 130 US 3% 5 U848 1944, 56 US4K%sb2. 154 FOREIGN. Sales. Argentine s Ju 59. 30 Y Argentine 6sOct59. Argentine s A Argentine s B Australian 6s. Austria 7s. Bank of Chil Bank of Japan 6s. [ 16 101 11 101 1047 1085 Canada 6s 1952 Canada 5%s 1929 Chile 83 1946 Chinese Gov Ry 58 Con Pow Japan 7. Copenhagen 5%s. Cuba 5%8... Czecho 7%s ret: Czecho 8s 1951 Czecho 8s 1952 ct.. Danish Munic 8s A. Denmark 6s....... D E15%s Mch 53, DE In 5% Nov53. Duteh Fast | 63 47, Dutch East | 6s 82, 39 FI Salvador 8s 48.. Finland = f 68 45 Finland 7s. Framerican 100 5 1034 5 102 Ger Am Bank 7. Ger Gen Elec 7s. Japanese 61 .2 Jergens U M 68 47. Lyon s . Marsellle 8s....... 10 Mexico 43 10 asntd. Mexico 5sasntd .. Netherlands 6s 64, Netherlands 6s 72. Nord 6%s Norway 6%s . Norwav 65 1943.... Norway 68 1944. Norway 6s 1952. Orient Dev Aeb 6 Paris-Ly-Med 6: 2 Poland 6s 40 Poland 8s. Porto Alegre & Queensiand 6s Rio Gr Do Sul 8s. Saxon (PW) 7 Selne 7s 42. . Serbs Crot Slo 8 Sweden 5%sct. Sweden 6 Swiss 5%s 19 Swiss Confed 8s. Toho Elec Pow 7 Utd Ringm 5%s 2 Utd Kingm 6%s 37 T1taSteamCopen Uruguav 8s....... Yokohama fs w i .. 62 27 10 95 High, 9 4 102 10 103 21 103 16 100 24 100 24 1044 10518 105 14 107 28 11231 11228 108 11228 Low. 2:55. 98% 98% 99% 994 99% 100% 98% 99% 9T% 98 104% 104% 95 95 100% 100% " 96 100% 100% 104% 104% 1025 102% 1% 112 109 109 104 10 95'% 931y 97% 9Ty 10684 107 104% 104% 101% 101% 100% 100% 107% 107% 084 28 9874 1004 100% 103 103 1064 107 108% 108% 108'4 108% 110% 110% 104% 104% 102 102 102 103% 103% 103% 108% 107% 107 M 94 100% 100% 1034 10314 1017% 102 109'% 110 o7 102% 102% % 104% 104% 954 190 98% 95% 95% 9% 9% 10l 101% 105 106 95 234 964 100 984 41 41 4 103% 103% 106% 106% 96% 96% 100% 100% 102% 1024 102% 102% 102'% 95 96% 924 92% 99's 99% 98% 98% 100% 100% 105 105 82% 82% 96'4 96% % 104% 104% 105 108 105 105 102% 103 100% 100% 101% 101% 103% 103% 104% 104% 103% 103% 113% 113% 99 99% 18 118 104% 104% 93% 93% 109% 109% 95% 96 MISCELLANEOUS. Am AgriChem 7%s 3 104% Am Cotton Oil 6s... 50 97% Am Smit & R 1st$s 29 101% 1 108% Am Water Wks Gs. Anaconda 1st 6s... Armour Del 5 Associated O Atlantie Refin 5s. Barnsdall 6s ctfs.. 6 B Beth Steel 5%853. Beth Steel 6s . B Cen Leath Chile Copper 6s 32. Sommonwlth P B e Py - @ EPSTT AT P -4 PRSI TIS o - Dery (DG) 7 Det Edison 68 40... Dodge w . Duquesne Light 63 Fast Cupa'Sug 7%3 Goodrich 6%8..... Goodyear 8s 1931.. It T& T 5%S. Kan CP&L 6s A 62 G & El 6352 ly-Spring 8s. Lackawa S 58 50 Laclede G §%s 63. Myers 6s ; Publlo Service 6s. . Public Serv Elec 68 P Serv Gas5%s69. P Serv Gas %8s 64. Stnclalr Ot1 68 u ma o rEeE38 anaBarcan Sin Cru Sin Pipe Line Southwest Bel Stand Ofl NJ 6s w1 Sug Kast Orfent 78. Tenn Elec Pow Toledo Edn 1st7s.. U S Rub 1st rf 68.. 45 U S Rub 7%8... 2 1 U 8 Steel sf 68, Utah Pow & Lt 5t Vertientes Sug 7 Warner Sug 1839.. 46 Warner Sug 1.. 4 wi 2 Wilson & Co 1st 6s. 15 Winchester A T%s. Youngstn S4 104 1044 9% 97% 101% 101% 108% 108% 104% 104% 98% 99 103% 103% 101% 102% 108% 106'% 98% 987% 104'4 104% 108 108% 1074 108 2% 92% 94% M% 102% 102% 101% 101% 103% 104% 103% 103% 103% 104 99% 99% 987 99w 1024 102% 99% 100 101% 101% 79 79 105' 105% 103 102'4 102% 107% 107% 93% 93% 105' 105% 105% 105% 103% 104 107% 107% 116 118 106% 106% 110% 110% 12t 121 102% 102% 100 100 103% 103% 974 9Tl 103% 103% 98% 984 101% 101% 109 109 103% 104 105% 105% 103 103% 99% 99% 104% 104'% 102% 103% 97% 98 1us 18 100% 100% 105% 105% 104% 104% 984 98% 103% 103% 116% 115% 108% 108% 96% 96% 100% 100% 105% 105% 100 100% 102% 102% 102 102 104% 104% 101% 101% 103% 103% 104% 104% 107w 107% 105 105 105 105 99% 100 1034 103% 105% 105% 108% 108% 95% 95% 105% 105% 102% 102% 101% 101% 102% 102% 102 102 1 2106 106 106 | stead: T 6s.. 1 1044 104% 104% , Articles unchanged. h | Atchison adj 4s wren . INBOND MARKE Government Issues Absorb Profit-Taking Sales After Long Run-Up. Atchison gen AtlantieC L AtlantioC L 1st BY GEORGE T. HUGHES. Special Dispateh to The Star. NEW YORK, March 11.—Bonds con- tinued firm, but trading in the high- grade Issues fell off somewhat today: United States Government obligations had to absorb profit-taking sales after their extraordinary advance earlier in the week. Leadership in the investment group rested today with the savings bank rails. Examples of the type favored today were Union Pacific first and re- funding 6s. which at 110, yielded only a little more than 4.50 per cent: Rock Island refunding 4s at approximately the best on record. Oregen, Washing- ton Railway & Navigation 4s, only a ‘raction below their best previous price, and Atchison general 4s above 94. The vield on the last named at the market is only 4.28 per cent. In the more active second grade and speculative railway issues Interna- tional Great Northern adjustments again were actively bought above 9. The same road's 6s were up, at ome time nearly a point. Missouri-Kans:s- Texas adjustments were strong at 101 and above, and Chicago Great West. ern 4s and Denver & Rio Grande West. ern 58 gained fractionally. There was active buying of Delaware & Huduon convertible 5s, resulting in a gain of over a point. The feature in the industrial list was the Anglo-Chilean Nitrate 7s. These ran up a point and one-half on the report of a new process, which will reduce the cost of nitrate production in Chile by more than 50 per cent. Most of the oils were heavy and the sugar issues did little. In the forelgn list attention was at- tracted by the selling of Oriental De- velopment 6s down a point, and the demand for Jugoslav 8s, which at 102% was_two points up from the pre- vious day's low. WHEAT HAS SETBACK ON WEATHER NEWS Big Shipments From Australia Re- ported and Argentine Stocks Have Increased. Can Nat 4%s 64. Canad North 6% Canad Pac deb Can Pac 4%s 46. Car Clinch & O 5s. . Car Clinch&O 6s 62 Central Pacific Cent Pac 1st 6 Ches & O cv 4 % Ches&Ognalgs.. 25 Ch! B & Q gn 4 1 ChiB&Q istrf CB&Q-lildlv4s.. Chi & E 11l gn 53 61 102 Chi Gt West 4869, 77 CM& Puget S4s.. .2 CM&St Pas25cfs 16 CM&SP rf 458 cf14 13 CM&SP ov 6 ofs 14 32 ChiTH&SE ChI'T H inc fs 60.. 984 5 1049 1 117% 20 8T Chi Union Sta 61 Chi & W Ind cn 4s. 1 108% 2 93% Cuba RR7%s Del & Hud 1st rf 4 6s 3 94 80 76% Sl 81% Ny 99% 107% 115% 94% 109% 114% 90 98% 99% | By the Associated Press. sau| CHICAGO, March 11—Favorable weather conditions over most of the domestic Winter crop territory gave 102 %102% wheat an early downward trend to- 103% 104 day. Besides very large wheat ship- 78% 764 ments from Australia were reported 761 76% and Argentine stocks have increased. a7v 9aw | OPening at e to S lower, wheat 106% 1061 | Underwent some further decline. Corn, 955 96! oats and provisions, were easy, corn %% 8% | starting unchanged fo %ec off and sub- 18% 191 | Sequently receding a little more. 3% 3% Advices at hand today indicated 100 = 100 | that the winter wheat crop outlook 83% in the Southwest is excellent and that unless deterioration takes place Okla- homa, in particular, will produce large ylelds. A icago expert telegraph- 106% | ing from Alba, Okla., said that from 104" | Enid to Alba wheat acreage is above the average and that all flelds show 99 | perfect stands and color. 20 According to dispatches from other 98% | sources, Texas, New Mexico, Colorado, 101% { Kansas and Missouri as well as Okla- 87% | homa, promise tremendous wheat 864 | crops, possibly the largest on record. 101% | It is asserted that in general the soil 102% | has been wetted down enough for 30 . 12#!& days to come. 90 98% 99% 834 93% Int Rys O A 55 72. Towa Cent rf 4 1 98% L &N 4%s 2003 100% Louis & Nash 5s B. Louis & Nash 7= Mil El Ry & L 6s.. 1 106% 17 104% 22 9 100% 107% LUMBER TRADE GAINS. 107%1 NEW YORK, March 11 (P).—The 99% | softwood lumber industry gained in production, shipments and new busi- 87% | ness for the week ended March 5. 100% | compared with the week before, but is 105% | somewhat behind last year, the Na- and West Coast mills were 526,389,592 feet, against 505,054,391 the week be- ——— STOCK IS OFFERED. NEW YORK, March 11 (#).—Pub- lic offering is heing made today of 5,000 shares of Southern Bankers' Se. curities Corporation of Delaware 7 per cent cumulative preferred stock in NYStateRy 6%s 62 NY W&Bos 4%s. units of one share of preferred and one of common stock at $107.50 per unit., The corporation will be con- 18 113% 113% ducted along lines of an investment 8 100 100 9 984 934% 11 89 88% 5 103% 103% 22 100 100 1 109% 109% 5 103% 103 14 112 111% 2 106% 106% 10 45% 45% 21 104% 104% 7 1 48 43 2 108% 107% 10 108% 108% 10 101% 101% 16 99 BALTIMORE, March 11 (Special). —A reduction of 15 cents a barrel on Western grades of Spring patent and Spring straight flours was announced on the flour market today. Hard Winter patent and hard Winter straight flours were also reduced 20 cents a barrel. Spring patent flours are selling today at $1.65 a barrel less than a year ago in carload lots, while hard Winter flour is §1.60 a barrel lower than last year. BORDEN CO. PROFIT. - NEW YORK, March 11 (#).~Bor- den company earned $10.86 a share on the common stock in 1926, against $10.65 a share in 1925, after pre- ferred dividends. The preferred was redeemed in 1926. POULTRY PRICES EASIER. CHICAGO, March 11 (#.—Poul- 83 |[try—aAlive, easier; receipts, four cars; 73% | fowls, 24%a28; Springs, 31; turkeys, 868% lg: lrx.ool!erl. 19; ducks, 20a3: PCC&StL6s PCC&StL 5s B 76. Port RL & Pés 47, Reading gen 4% 1084 101% 98% 99 3 100% 100% 100% 87 944 94 944 83 86% 86% 86% 100% 101 99% 100 St P& KCShL 4%s St P Un Dep 6s.... AL 4ssta 1 28 98% 984 70 9T 9T% NEW YORK, March 11 (Speclal).— Crude rubber, smoked ribbed sheets, advanced % at today’'s noon quota- tion of 411;. This compares with 37% a month ago and 5835 a year ago. ——— Ry Southern Ry 6% TexArk F'S 5343 50, Third Ave ref 4s. Third Ave ad) 68, Union Pac 1st 4s. Unton Pac t’l‘ [ Union Pac NEW YORK, March 11 (#).—Four 18 110 109% 110 |Southernsmills and fo g Union Pac Istrf4s 5 93% 93 93 |land have been vaalu:mm?p Union Pacov 6s... 2 101% 101% 101% [ in the Cotton Textile Institute, Inc., g:’fl:': ll}y“ux o8, 1; lgg\c lg:% 105% | the membership of which now repre- . 99 | sents 434 mil - Wabash 6%876... 26 105% 105 105 |dles. s - West Maryland 4s. 94 80% 80 80% Western Pacifio 6s. 11 99% 99% 99% West Shore 48 2361 7 88 87% 88 Wheel & L Ben 48, 20 87% 87% 8% Wilkes & B 1st 5 5o N W —— BRITISH SILK OUTPUT. NEW YORK, March 11 Britain’s production of mm;fml: in "fi“ ".1 flunxlmm 600, NEW YORK MARKETS. e SRSt & e euti- mated world productios 200,000.- NEW YORK, March 11 (#).—Flour, | 000 pounds, the Ml:l'“m Co. easier; Spring patents, 7.20a7.50; soft [ ©f New York reports. Winter straights, 6.05a6.40; g s g e e ter st 7otata0. med| PRICES ON PARIS BOURSE. Winter straights, 7.00a7.40. Rye, easy; No. 2 Western, 1.16% f.o.b. New | PARIS, March 11 (#).—] York and 1.14% c.if. export. Barley, | irregular on the Bourse m:,m'rzfi easy; malting, 87%a80% cif New |per cent rentes, 63 francs; Yorl , easy, Middle West, 12.85 | on London, 124 francs 3 centimes; & Wheat, futures opened barely | per cent loan, 66 francs, 40 centimes. domestic May, 1.42. Other | The dollar was quoted at 35 francs 55% centimes. / ‘ [ [J }