Evening Star Newspaper, June 28, 1927, Page 10

_ 10 ® STOCKS IRREGULAR - INTRADING TODAY Strong Tendency at Opening, Followed by Reaction-—Then by Mixed Moves. BY GEORGE T. HUGHES. Dispatch to The Star. NEW YORK, June 28.—The stock market started in active and strong continued higher for the fi hour, suffered further reaction for | a brief period and finally turned high- | ly irregular. | Speculative sentiment had been in- | fluenced by the decrease of $44,000,- | 000 brokers' loans reported after the | close Monday. This brought the total back practically to where it stood | two weeks ago. It was reasonable to | conclude that much of the early de: | mand represented an accumulation of | overnight covering orders and when these had been supplied the market again was found to lack the nece: sponsorship to bring about a general recovery. | Call Money Higher. Call money renewed at 5 per cent, | the highest since January This | followed the increased calling of loans vesterday. While funds for stock market purposes might be expected | 1o be less plentiful as the first half | year draws to a cl the condition | of the call mone arket W as nothing more than tempor: reflected the withdrawal of fund meet the midyear dividend and inter- est payments. more Speci up accounts ation that funds obtained through this payment would find their way back into the stock market for reinvestment, i General Motors opened 2 points higher and then lost part of the im- provement. U, S. Steel held firm most of the session at the 120 level, wher it was up a half point. Colorado Fuel & Iron started forward again but when it was realized that it was difficult to attract a genuine outside following, operations for the rise were suspend- ed. American Smelting and Refining, which suffered a reaction of 315 points | vesterday in hy with the wea i s generally, re- t of the ground previous to the declaration of the | usual quarterly dividend. Much of the | vecent selling, while it might have | been considered professional in char- acter, apparently had been hased on "FINANCIAL/ | Amal Leather | Am Tel & Tei(3) | Am Tobacco (8). | Armourof 111 (B) AUCL (18%).. |AUGuit& W1., Atl Refining (4). Atlas Pow pt (6) Balto & O (6)... Balto & Oh pf(4) NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Low. Close. ot bdl b57% 53 50 113% 6a% Open High. . Close. Low. Close. i Open. High. ADitib! Pow (5). 9213 93% 92 934 Abrahm&Straus 68 68 68 68 Abr&Stras7%pf 111% 111% 11054 111% Adams Exp (6). 155 159 155 158k Adv Rumley.... 12 1z 12 12 Adv Rumley pf.. 33% 3834 334 334 Ahumada (50c).. 3% 3% 3 3 Air-Reductn(16) 1797 180% 176% 176% Ajax Rubber.... 8% 84 7% Th Allled Chem (6). 139'% 140 1385 1394 Allis Chalm (6). 103% 103% 103 1034 16 16%W 1% I5% 30% 30 s | 184 131y Open, Penick&Ford(1) 2d% 24% Penn C & Coke... 16% Pa Dix1eCt(3.20) Penna RR (3%) Penn-Seab Steel. Peoples Gas (8). Pere Marq (18). Pere Marq pf (5) PhilaCo6 %pt(3) Phila& RC&1.. Phillips Pet (3). Phoenix Hoslery. Plerce-Arrow. .. Plerce-Ar pf(8). Pierce Petrolm. . Pitts Coal Pitts & W Postum (5) Pressed Stl Car. Pr St Car pf(7). Prod & Refiners. Producers&R pt. Pub Serv NJ (2) Pub S NJ p£(8). Pub SE&G pf(6) Pullman Co (8).. Pullman ctfs(8) Pure Ol (12)... Purity Bak A(3) Purity Bak B(2). Radlo Corp of A. Radlo C pf (3%) Reading (15)... Real Silk Hos (4) Real Silk pt (7). Reid Ice Crm(3) Reid IceCr pf (7) Rem-Rand $1.60. Rem-Rd 15t(7).. Remingtn 2d (8) {Rep Ir & Stl (4). Reynolds Spngs. Rey Tobac B (5) Rossla Ins (6).. Royl D(al.33%). Safety Cable (4) St L&San F(18). St L Southwest. Schulte (3%). Seabd Alr Line Seab Alr L pf.... Sears-R (n2%). | Seneca Copper. . Shattuck F G (2) | Shattuck rts. Shell Un (1.40).. Shubert The (5), Simmons (2).... | Simms Pet; Sinclalr Oil Sinclair pt (8). Skelly O11 (2).. Snider Packg Co SPortoR Sug(n). South Porto rts. South Port S (6) South Calif Ed.. South Dairies A. South Pac (6)... Southern Ry (7). South Ry pt (5) Flelschmann(3) Foundation (5).. 57% Fox Film A (4).. b6% | Frank-S pf (7)., 113y Freeport (14%). 66 Gabriel Sn(313). 43% Gardner Motor.. 9 Gen Am Luk (3) - Gen Asphalt Gen Asph pt Gen Cigars (4).. Gen klec (15)... Geuklec sp(6uc) Gen GasA(ol%) Gen s Pra(d). Am Bank N Gen Gas (B).... Am Bosch...... 15 15% | GenMotors(t10) Am Br Sh(j1.60) 39y 3 | Gen Mot pt (7). Am Brown Bov.. 15% 15 | Gen Lutdr Ad(2) AmCan (2)....0 & 54t 534 54 | GenOutdr A (4) Am Can pf (7).. 131% 131% 131% 131% | Gen Ry Sig (5)++ Am Car&Fdy(6) 101 101 100% 100% | Gen Refrac (3).. Am Chicle (3) 52% 5d% 62 54% | Glidde Co. .. ...y Am Drug (80c). 14 14 13% 13 | Glidden pr pf(7) Am Express (6). 14214 142% 142% 1424 | Gold Dust... Am & For Pow.. 21 21% 2l4 21% | Goodrich Ru (4). Am&Fo Po pf(7) 100% 100% 100 100 | Goodyear pt (7). AmHide&Lpf. 63 63% 63 63% | Goodyr pr pf(8). AmHoP (2.40). 40% 42 40 dl%|Gothm S H (23%) Am lce (110).... 127 127 127 127 |Gotham new 2. Amer Ice (rts).. 315 3% 34 3% Gotham H pf(7). Am Internatl(z). 49's 49% 48% 49 [Gould Coupler A. Am Linseed. 29 29% 29 204! Granby (4) Am Linseed pf.. 621 63 | Grt North pt (5) Am Locomot (8) 107% 107 107% | Gt Nor pt cfs(5) Am Metals (3).. 38% 38% 38% Grt Westn Su(¥) AmPiano (3)... 39 39 384 Gt WestS pt (7) AmPo& Lt (1) 60 60 59 Green Canan Am Radiator(5). 120% 120% 1170 Guantanamo, AmSafetyR(33) 43 d46's 43 Gult Mo & Nor Am Seating(14). 44% 44w 44% Gu M &N pf (6). Am Smelting (8) Gult States (5). :mgfi;tlv(fls). Gulf Sta 1st (7). m ys A Sugar (6). .- R e Am Sumatra. Helme Geo (1) Hoe & Co A Hollander & 3 Houshid P(3%). Houston Ut ... Howe Sound(4). Hud Man Hudson Mo(3 ) Hup Mot (L.40).. 1llinots Cen (7).. indep VIl (1).... indian Mot (11z) Indian Lefining.. Indian Refg ctis inlaud St (2%).. Inspiration. interboroRapTr. | internat Agri... Int Agricut prior Int Bus Ma (4).. Int Cement (4).. int Com Eng (2) Int Harv (36). Int Mtch pr( 1% 31 62% Amerada (2). Am Agricul Chm Am Agri Ch pf.. 106% 44 196t 1065 414 1955 124 46% 838 1 46k 100 26% w7 56 341 b 003 158 162% | SE% u6 ik b 6 d0'a 100 254 | 9i 86 saly Am TobaccoB(8) Am W W (cl 60) Am W W Ist(7). Am Woolen. . Am Woolen pf.. Am Writ Pa cifs Am Wr Pa f cfs Am Zine pf..... Anaconda (3)... ArmourDel pf(7) Armourot 111(A) 89t 8l 11074 1101 1ok 1 | 187 ¢ 2714 Arnold Con&Co. Art Metal (1135) Asso Dry G(235) Atchison ((1813) Atchison pf (5). 178% 100% 182 374 11215 66 103% 228 115% 94 1% 1003 100%s 182% 182 1, 37% g 113 1% 66 66 66 103% 103% 103% 228 225% 223 115% 115% 115% 9% 79 79% Atlas Powder(4) Baldwin L (7) int Mer Mar pt.. Int Nickel (2).40 Int Paper (2) 7 () 1ot Paper pf (7). Spicer Mfg...... Balt & Ohio rts. . the possibility of a cut in the regular annual $3 distribution. Despite the | prevailing low price for the metal, Anaconda was said to have covered dividend requirements and was able | to conserve surplus. Offerings Not So Heavy. Offering of the oil shares wa ro persistent although there was little recovery. Phillips Petroleum, Marland and Shell Union were unchanged or fractionally lower. Houston and an- other of its characteristic run-ups but the improvement was not as pro- nounced as it had been on previous occosions. The latest weekly statistics on domestic crude production showed little change, but the fact remained that little progress was being made by leading interests to curtail output in the major fields. The demand which carried General | Railway Signal to its highest price for the present shares was accom- panied by reports that additional im- portant orders had been placed for jts automatic train control devices. Baldwin Locomotive held most of the session within a point ef the Monday final. Selling of the railway shares sub- sided and the market for these issues turned comparatively dull. The South- western merger roads, which had been subjected to pressure during the past few days, were disposed to recover, but it was a question whether the de- mand represented new buying. Atchi- son, Baltimore & Ohio, Chesapeake & ©Ohio and Rock Island were only fractionally improved. not | Baltimore Markets BALTIMORE, June 28 (Speciall.— | Potatoes, 100 pounds, 2.00a3.50; new potatoes, barrel, 1.50a4.25; sweet pota- toes and yams, bushel, 1.00a1.75; as- paragus, dozen, 1.25a3.50; beans, bush- el, 50a1.40; beets, 100, 2.00a2.50; blue kale, bushel, 50a60; cabbage, hamper, 50a75; carrots, 100, 2.00a6.00; corn, crate, 75; lettuce, bushel, 50a 1.25; Spring onions, 100, 1.25a1.50; peppers, crate, 1.00a2.50; peas, bushel, Soa ; radishes, 100, 1.50a3.00; spin- ach, bushel, 35a63; squash 1.00a1.25; tomatoes, crate, 1.01 Apples, basket, 1.00a2.00; taloupes, crate, 1.00a3.50; cherrie: pound, 5a18; huckleberries, quart, 353 40; pineapples, crate, 1.75a2.25; peaches, crate, 1.50a3.00; strawberries, quart, 8a16; melons, each, 25a65. Hay and Grain Prices. ‘Wheat—No. 2 red Winter, domes- tic, spot, 1.48 > red Winter, gar- licky, spot, 1.45; No. 3, garlicky, spot, | 1.41 | Corn—Domestic, No. 2 yellow, 1.09a 1.10; N spot, no quotations; No. 3, no quotations; cob corn, new, nom- inal, 5.00 per barrel. 2, new, 59 per bushel; hushel. Hay—Receipts, 47 tons. The local | hay market is quiet under a very light demand, with receipts generally ample for trade wants, Demand principally for _top-grade timothy, clover mixed and light clover mixed. Low-grade hay generally slow sale and in most cases it is more a ques- tion of a buyer than price. Quotati ¢, per ton: No. timothy, .50; No. 3 timoth 19.00a20.00; No, 1 light clover mixed, 21.00: No. 2 light clover mixed, 19.00220.00; No. 1 clover mixed, 21.00a | 2 Bambgr pf(615) Bang & Ar (3).. Bang & Ar pt(7) BarnsdaliA(23) Barnsdall B(23; Bayuk Cigars. | Beacon Oil. . Beech-Nut (13 Beechnt p{ B(7). Belding Bros (2) Bethlehem Steel Beth St1 pt (7).. Booth Fisheries. Botany C Mills A Briggs Mfg (3). Bkln-Edison (8) Blkn-Mn Tr (4). By Man T pf(6). Bklyn UnGas(5) Brunswick B(3) Brunswick Ter.. Burns Bro (10). Burns pr pf (7). Burros Add(t4). Bush Terde (7). Bush Trm pf (7) Butterick (52).. Byer & Co... By-Products (2) Calif Packg( Calif Petrol(2). Callahan Zine. . Calumet & Ar(6) Calu & Hecla (2) Can Dry (12%). Can Pacific (10). 179 Case Threshg(6) 214 214 Cent Alloy (2).. Cent Leath..... Cent Leather cfs Cent Lea pf ctfs. Cerro dePas(15) Certain-Teed(4) Chand-Cleve Chandler pf(2 Ches & Ohlo(10) Ches Corpn... Chi & Alton, Chi & Alton pt. Chi & East Il1... Chi & East Il pt Chi Great West. Chi Gt West pf.. Chi Ml & St P, CM&StPefs, Chi Mil&StP pf.. C M&StP pf cfs. Chi & Nwn (4).. A Chi Pne Too) (f) 128 CRI&Ppt (7). 106% 107 Childs (32.40)... Chile Cop (23). Christie B (1.20) 58 Chrysler Corp(3) 45% 46% Cluet Pea pf (7) 118 Coca-Cola (5)... 112% 112% Collins & Aik(4) 102% 102% Col Fuel & Iron. Col Gas & EI (5) Col G&E pf A(6) 104% 104% Col Carbon (4)., Com Cred (1). Com Crpf (1%). Con Cigars p£(7) 101 | Cont Can (5). 1% 1-101:»1 Std G & E(3%).. 087 Std G & E pf(4). Std Mill (5)..... StdOlICal(t28). Std OILNJ(11%) Std Oil NY(1.60) Streling Pro(16) Stewart-War (6) Studebaker (5).. Studebak pf (7). Submarine Boat. Sun Oil (i 1) Superior Oll..... Symington Cl A. Telautogra (60c) Tenn Copper (1). Texas Corpn (3). Tex Gulf S t4%. Tex & Pacific. 1 Tex PC&0(60c). Tex Land Trst n. : The Fair (2.40).. Third Aven Thompson (3. Tide WAs(1.70). TidWAsOLIpL(6) Timk Roll B(15) Tobac Prod (7).. Transcont Oil..« Transue & Wil.. Underwood (4).. Un Bag & Paper. Union Carb (6).. Union Oil (12%;) Un Pacific (10). .. Un Pacific pf(4). Utd Cigar S(c2). Un Cig St pf(7). United Drug (9). Utd Fruit(15%). 1 USCI1P&F(10) US Dist ptn(7).. U S Dist cfs new U S Hoffman (4) U S Alcohol (5).. U S Realty (4) U S Rubber. U S Rub 1st . U'S Smelt (3%). U S Steel (7).... 1 U S Steel pf (7). U S Tobacco(3). Univ P&R(12%) Utl P&LE A (e2) Vanadium (3)... Van Raalte, Vick Chemical Victor Tlk Mch. Victor cv pt (6). Vietor prpf (7). Va-Caro Chem. . Va-Car Ch 6% p3 Vivadou (3). Vivaudou pf o1 Vulean Detin.,.. Wabash..., Wabash pf A(5). Waldorf (1%).. Walworth (1.20) Ward Baking B Warner Pic A. Warner-Quin(2) WarF&Pipe Cor. Weber (4).... Wells-Fargo W Penn 121 A(7) W Penn 131 pf(7) West I Po pt(7) West Maryland. West Md 2d pf. West Pacific West Pac pf (6). West Union (8). WesthseAlrB(7) Westinghse (4 Weston Electrf White Eagle (2). White Mot (4) White Rock (2).. White Sew M(4) White Sew Mach Wickwire ctfs... Willys-Overland Woolworth (5).. Worthn Pump. .. Wright Aero (1) 108% 1% 114% int Ry Cent Am. Inter Salt (6). Intl Shoe (7).... Intl Silver. intl Silver p Int Tel & Tel 16) In! ve (1114). lowa Central.... Jones Bros Tea., Jones & Lau (7). Jordan Motor... Kan City South. Kayser J (4) Kelly-Spring Kelsey Hayes. .. Kennecott C (5). Kinney (GR)... Kinney pf (8). Kraft Ch (11%). Kresge SS(1.20). Kresge SS pf(8) Kresge Dept S.. Kresge DS pf(8) Kress S H (1)... Laclede Gas(12) 231 Lago Oil (3).... 2T% Lambert Co (5). 7 0% Lambert rts. .... 754 | Lehigh Val(31s) “ | Lehn & Fink(3). Lig & Myrs(ft4) LIg&MyrsB(f4). Lima Loco (4).. Liq Carb (3.60). Loew's Inc (2) Loft. Long Bell Loose-Wiles. Lorillard Co. Louisiana Ofl. 14% 14% | LouisGasA(1.76) 131, | Louls & Nash(7) 73'4 | Mack Trucks (6) 58% | Mack T 1st (7).. 51 |Mackay (7)..... Magma Cop (3). 17% | Mandel (233).... 7% | Man El Sup (5).. Man El m g (d5) Man Shirt (13%), Market St prior. Marland Ofl. .... Marlin-Rek t3% Mathieson (4).. MetroG pt (1.89) May Dept S (4). MaytagCo(t2%) Mexican Seab. .. Miami Cop (1).. MidContinent(3) Mid-Cont pf(7) Middle States. .. Mid States Ol ct Miller Rub (2).. Minn & St Louls. Milwauke E1(6). Min St P & SSM. Mo Kan & Tex.. Mo K & T pf (6). Missouri Pacific, Missourl Pac pf. Montana Pow (5) Montgmry W (4). Moon Motor-..... Mother L (50¢).. Motion Ple (1). . Motor Met(3.60) Motor Whi (2) Mullins Body. .. Mullins B pf (8) Munsingwr (3).. Murray Corpn... Nash Motor (4). Nat Bellas Hess, Nat Biscult 15% Nat Cash R(A)3. Natl Dairy (3) Nat Dept Stores. Nat D St 1st (7). Nat Distillers. .. Nat Distillers pt Nat Enamel & S. Nat Lead (5)... Nat Lead pfA(7) Nat Pw&Lt(80c) 7 16 51% 1 116% 19 4T 1084 T 18 2T% 163 58% 8514 1164 116 10 19 4T 4T 108% 1081 Th T 18 27% 18 28% 163 1621 59 58% 85% 85ly 114 114 Bush Terml(bS) £l 81y 50t 745 1 a 80% 80% 61% 61 221 22w 1% 15 63 62i 4% 1aw 48% 471 T4 179 1785 178% 213 214 28 28 111% 110V 815 50 Butte&Super(2) Byers (rights. 14% 48 28 15 13% 734 28 15 13% 139% 101% 112 112% 33% 43% 5% 45% 3% 47% 31% 420 5814 50% T a2 177T% 6549 %) 17 175 178% 179 661 6% 8% 91 15 15% 43 43% €8'% 31 8! 317% 29% 85% 1284 Chi Rock Is (5). 111% 112% &l 58% 5% 33% 331 60 18 91 92% 921 037 92% e 9T 64% 6% 2% e Tl 143 21 Com Cr pf B (2). 21 Com InTrpf 615 9 Com Solv B (8). 533 Com Powr (2%) 52 Congoleum N... 18 Cong Cigar (%) 61 Con Cigars (7).. 81 637 36% 129 43 61'% 20% 90 8% 53% 30 984 132 21% 244% Consol Gas (5)., 101 Cons Gas pf (5). 974 Consol Textile. . Cont Bakg A(4). Cont Baking B., Cont Bak pf (8). 1 914 5% 41 41% 5% b 21% R4y . 68% 69 Cont Can pf(7).. 12315 12314 Cont Insur (6).. 171 171 Cont Mot (80c).. 11 11 Corn Prod(t2%) b5d% 54y Coty Inc (5).... 79% 21. Straw- No. 1 1 at, 15.00216.00. | Dairy Farm Products. | poultry — Spring _chickens 20a38; Leghor old ; Leghorns, 008- ducks, I and | pigeons, Receipt firsts in free ¢ wheat, 14.50a15.00; Live native | dozen, | to fancy creamery, | packed, 3 butter, 38. . World's Largest Buddha. Japan now has the largest image of Buddha in the world. It has recently been completed in the village of Uyeno on the outskirts of Nagoya. The statue is of reinforced concrete and is nine feet higher than the fa- mous great Buddha of Nara, which is visited by most of the American tour- ists coming to Japan. The new Bud- dha is 60 feet high, with the face meas- | uring 24 feet from the tip of the chin | o to the top of the head | Walter Ellsworth, Jowa, chased a hen from a nest of eggs he didn't want hatched. Next morning he found the hen on a crow’s Cedar Rapids, | Cuba Cane Sugar Nat Surety (10). Yellow Truck... YungstnS&T(5). 297% Cruelble! 2 eSteel (6) 52 834 Crucible pf(7).. 105 B Cuba CaneSupt 353 1lam.. 429500 12noon, “uban Am S (1). N Y Alr Br (3).. Lpm.. 851,800 2Zpn Cuban Am p£(7). 10 N Y Cent ,,)_)“ » 16 4 5 Dividend rate: Cuba Compy (3) : % 2T ¥ Chi&StL(11) 2 2 2 o0 Davison Chem.. 2 NYC&StL pf(6). Deere&Co pf(7). 116/ NY Dock.eoeoes Del & Hud (9) NY & Harl (5) Del L & W (7). NY NH & Hart., Dodge Bros C1 A 20 [NYOnt&w (1), Dodge pt (7).... 71w | NY State Rys pt 374 Dome Mines (1). 73 | NY Steam pf(6). 9 Doug-Pec(12%) 743 75 74" | Norf& W (8)... 179% DulSS&Atlan. 3% 4 NorAm b10% stk 48 Dupont (193,)., 237% 2374 North Am pf(3). 5L'4 Du Pont deb(6). 111% 1113 Nor Am Ed pf(7) 100 Duquesne pf (7). 116 116 i\('orlhn CentsflL 5 Eastman (18)... 157 NonthiEsoI®) Eaton Axle (2311 281 oy SRS Eisenlohr & Bro. Oll Well Sup, El AutoLt(16%) Omnibus. s Electric Boat. .. Opnhm Col (4).. Elec Power & Lt Otis Elevator (63 124 Elec PELt pt(7) Otis Elev pf (6). 116 Elec Refrigeratn Otis Steel. 9% El Stge Bat (16) Owens Bot(C 5% End John (5)... Owens B pf (7).. 118 Engineers Pub § 1 2).. Fors P8 o1 1) PacOn Stnba. <. ait Bldg(7). . Packard (12.90). uitable pf (7) | Paige Motor. Pan-Am (6) Pan-Am B (6).. Pan-Am West B Panhandle... ... Parmt-Fam (§8) Park & Tilford. . therwise are ot included, of trading e 1 Plus 4% in stock, ock, 1 Plus 29% 116% 210 161% 161% 161 19% 204 0% 1% Th % % % auacterly. ¢ Plus b4 in ayabl 4 285% 111 116 169 28% 12 83% 16% 21 102% 17% A stock D it of common stock. o ¢ BONDS ARE CALLED. 82% 83% 102% 1024 18% 184 1.% 65'% 654 634 6% 67% 67u 25% 254 103% 103% 1 89 8Y 178 178 b2'% 58 at 102 and accrued interest, . 834 178 52% 5% 13 3% T 41% CHICAG Receipts, new, new, 73 «cars; old, | Erfe Stm S(zi5) Eureka Va ft43% Fed Light & Trac 57 304 nest in a tree near by. The hen had chased the crows off taken pos- session. Twice a ves the nest for food, says the Capperg mag- azius, 93 | Park Utah 80c). 21 | Pathe Exchange 221 PatheExA.. 15 Patino(1.21 2-3) 8, I‘flwhflo}or.- Fed Min pt (7).. Fed Mot T(f80c) First Nat S(1%) Fisk Rubber. ... ). 9 Triumphs, 3.00a3.25; % 224 22'% b 6.00a5.35; Virginia, barrel 0, Low. Close. 24" Hourly Sales on N. Y. Market. s eiven in the above table at—no_rexuiar rate. per ceny i common stock. vavable tock, d Pay. in special i Plus 24 in & Payable 1/40 of & share quarterly 'm Plus 8% in stock, Plus $3 in oreferred stock. Notice has been given by the Riker Realty Co. of Washington, owners of the Wakefleld Hall apartments, that the 7 per cent first mortgage bonds now ‘outstanding on this property will be called for payment on the next in- terest payment date, August 16 next, POTATB—MABKET STRONGER. , June 28 (A).—Potatoes— 20 g total United shipments, 741; trading good, | ording to condition; sas few North Carolina, barrel, Irish Cobblers Irish Col 341y 44'5 557h o 1% 140% 374 89'9 30% Bl th on 3503 oL FLOOD CREDIT PLAN BEFORE BANKERS District Financiers Weigh Matter of Subscription to Debentures. BY EDWARD C. STONE. The first special meeting of the Di trict Bankers' Association since W. W. Spaid took the helm is set for 4.30 this afternoon at headquarters, when the matter of subscribing to a quota of $25.000 of debenture notes of the Ilood Credits Corporation, organized te aic in rehabilitating the Mississippl dev- astated areas, comes up for actfon. New York has already accepted $1,000,- | 000 of these debentures, Chicago $400,- 000 and other cities large amounts. The action of the bankers here will, therefore, be watched with wide in- terest. i . tobert V. Fleming is chairman of the committee, which is to report late and serving with him are Y. Bell and John Poole. These wve investigated the flood relict lan very carefully and whatever they Pecommend will naturally be folloved by the local association. New Financing Firm Organized. The officers and divectors of the De- partmental Bank, 1714 Pennsylvania avenue northwest, have just organized a new financing organization to be known as the l)elmrtmvnlul .\?r‘l"'l'l!!‘ Corporation and are now offering pub- lic subscriptions for an issue of $100.- 000 7 per cent cumulative preferred stock, at § per share, par value £100 pe hare. J. T. Exnl artmental Ban president of the De D , and the other offi- cers of the new company state that the corporation will e in the same business as that ‘m|4|-,\’ several other similar companies or- zanized fairly recently in Washington. The company will buy first and scmml! deed of trust notes on home owners Properties and -also make loans on real estate located in this city. In outlining their plans the officers report that “other similar companies are making substantial profits. ~The business is growing larger. and the new corporation is in a position to share in the expansion.” Delegates Await Convention. Some two-score young Washington bankers are waiting patiently for the opening of the annual convention of the American Institute of Banking at Detroit the se nd week in July. The delegation will be one of the strongest ever sent from this city. The Capital will also furnish two of the convention speakers. Henry H. McKee, president of the National Cap- ital Bank, has been asked to give his brilliant address on the McFadden bill, and F. . H. Siddons, secretary of the American Security & Trust Co., | is on the program to speak on ways and means of expanding the Lanking business. Bond Issue Oversubscribed. Heavy oversubscription to the $1,000,000 Lake Ontario Power Cor- poration first mortgage 51 per cent bonds of 1957 was reported at the local | office today by J. A. W. Iglehart & Co. The price 98 and accrued in- | terest, to yield 5.65 per cent. | J. A. W. Iglehart & Co. will offer to- | morrow a new issue of $500,000 Lake | Ontario Power Corporation one-year | 6 per cent notes at 100 and accrued interest. The proceeds of these two issues will be used by the corporation | to acquire all the property, rights and | franchises of the Sodus Gas & Electric | Light Co., Marion Power Corporation | and Northern Gayuga Light & Powel Corporation, and certain hydroelectric | plants, water power sites and water rights of the Preston Power Corpora- tion. These companies serve terri- tories between Rochester and Syra- cuse, N. Y. Potomac Power Stock Leader. The new 5! per cent Potomac Electric Power stock again led the local market today, shares selling at 101%, and one share at 101 ital Traction came opt at 10- way & Electric preferred at 91% 10 ‘shares of Riggs National sold at 4761, and 10 more at 476. Bonds were firm, selling at recent | Gas 6s, Series B, came out at . while the A series sold at 103%. Traction 5s sold at 101%, and Potc mac Electric v & Electric 4s brought 8 New Bank Building Started. Erection of the mnew branch bank | building of the Farmers & Mechanics National Bank, at Wisconsin avenue and Warren street, has commenced, the contract having been awarded to R. J. O'Neal. The estimated cost of the building is $75,000 and it is to be completed ready for occupancy within six months. It is to be built\of bhuft Indiana limestone, having a 53-foot frontage on Wisconsin avenue and a depth of 47 feet. The latest modern equipment will be installed and he open counters will be used. Pennsy’s Income Takes Jump. May net operating income of the Pennsylvania railroad rose to $10,097, 095 from $9,064,113 in May last year, and for the five months of 1927 to $42,203,718 from $33,875,449 in the same period of 1926.” Surplus of the New York, New Haven and Hartford for the month was $827,723 after charges, against $725,465 a year ago, and for the five months $1,735,968, against $2,596,143 in the same period last year. Other Financial Notes. The directors of the Southern Mary- land Trust Co., of Seat Pleasant, Md., have declared the regular semi-annual dividend of 415 per cent, payable July 1, according to an announcement made by Samuel J. Henry, president of the bank, yesterday. Miss' Mary J. Winfree of the Con- tinental Trust Co. will address the Quota Club this evening. Other guests will be Miss Grace M. Bromley and Miss Lois A. White. Howell P. French of the organiza- tion of Hambleton & Co., investment | bankers of Baltimore, has been ap- pointed manager of the Washington ! effice of the company, according to announcement yesterday by the Bal- timore officials. | S g SEGREGATION FAVORED. | NEW YORK, June 28 (®).—Sugges- tions by bankers to segregate stock and bond loans, showing exactly where the burden rests in weekly and month- ly reports of brokers' loans, are meet- ing with widespread approval in Wall Street and probably will be submitted to officials of the New York Stock Ex- change. In such event, it is expected a moderately higher rate for bond than for stock loans would be estab- lished. . Oyster Is Heavy Drinker. The heaviest drinker for its size is the oyster, Dr. Paul Gaitsoff, of the United States Bureau of Fisheries, tells us. The doctor finds the average oyster drinks 80 quarts of water daily it the water is mot too cold. If the water is helow 45 degrees he goes on a thirst strike, says the Capper’s mag- azine. Rose Most Valued Flower. The rose has a greater commercial value than any other flower, says the Liberty magazine. Besides its high horticultural value, it produces attar of roses, an expensive perfume. Forty thousand nowersr e required to pro- duce an ounce, Y THE EVENING STAR. WASHINGTON. D. €. TUESDAY. JUNE A. C. L. REVENUES DROP. May Earnings of Road Decline From May of Last Year. WILMINGTON, N. C., June 28 (#®). —Operating revenues of the Atlantic Coast Line Railroad Co. for th month of May, 1927, were $7,336,37 s compared with $8,194,105 in the me month last year, says a state- ment issued at the general offices of the company here today. The statement also shows a loss in net operating insome for May. 1927. as compared with the same month 2 Net operating_income for y, 1927, was $1.086,181 and for May last vear, it was $1,310,642 the statement sai Operating revenues for the first "FINANCTAL. five months of 1927, January 1 to May 31. was $39,343.267 as compared with $16,040,613 for the same period et operating income for 1927, was 38,168,648 as compared $10,889,952 for the same month last year. —_— STOCK BEING OFFERED. NEW YORK, June 28 UP).—Arrov. Elactric Co.. a Connecticut corpora- tion, manufacturers of electric wiring devices, is making its first public of- fering of securities, an issue of $2,000,- 000 of !5 per cent cumulative pre- ferred stock. $100 par, priced at $98.50 a share to yield about .60 per cent, through an Eastern banking syndicate, headed by Thompson, Fenn Co. =1 SILVER QUOTATIONS. NEW YORK, June 28 (®) —Bar silver, 563%; Mexican dollars, THE BOARD OF DIRECTORS OF THR Seventh Street Savings Bank has declared s dividend of 6% (86 per share) pavabie o its capital stock 10 i oiders of recom June 30" 1927 The of stock will be elosed v closed h . CONSULT US =for safs Investment of your surplus funds. Look 10 the future by invests e NOW Wm. H. Saunders Co. Mortgage nc. Founded 1887 1437 K «f | Notes o Wathineton DF S 9900060000000 0000004000. or the greatest NASH nnouncement ALEX. BROWN & SONS BALTIMORE Present the comprehensive list of securities below State of Maryland State of Virgini City of Baltimore City of Hagerstown Federal Land Bank Washington Suburban Sanitary Dist. Consolidated Gas Co. of Baltimore Grande Western Equip. 4% Denver & Union Pacific R. R. Toledo Terminal Co. Canadian National Rys. Equip. Philadelphia Suburban Gas & Elec. Co. 412 Standard Oil of New York Ohio Power Co. Columbia Gas & Electric Co. Atlantic City Gas Co. International Telephone & Teleg’h Co. 4%/, Hudson Coal Co. Allis Chalmers Manufacturing Co. Goodyear Tire & Rubber Co. Koppers Gas & Coke Co. Phillips Petroleum Co. Erie Railroad Marland 0il Co. Jersey Central Power & Light Co. Dominican Republic Gulf States Steel Co. Cuba Northern Rys. P. Lorillard Co. United Rys. & Elec. Co. Pennsylvania Glass Maryland Electric Rys. City of Budapest, Hungary for July Investments Rate 42% % 4 5 4% 5 4% 5 4% 42 4% 4% 42 5 5 5 5 5 5 5% 5 5 5% 5% 5% 5% 5% 4 6 6%2 6 Sand Co. Maturity 1938 1935 1953 1938 1942-32 1969-49 1954 1967 1957 1934-41 1957 1951 1956 1952 1960 1952 1962 1937 1957 1947 1939 1967 1932 1945 1942 1942 1942 1937 1949 1952 1957 1962 Yield 3.900) 3.95 4.00 4.10 4.25 4.25 447 4.60 4.65 467 4.70 4.80 4.90 4.90 5.00 5.00 5.05 5.10 5.12 5.20 5.30 5.30 5.30 5.50 5.50 5.50 5.62 5.65 5.80 5.95 6.00 6.35 6.60 1929 Some of the above are exempt from Federal Income Taxes, others from personal property taxes in various localities, and in the case of some others the obligors refund personal property taxes collected in certain jurisdictions. In cases referred to in the foregoing the effective yield is substantially above that shown in the list. Full information will be furnished on application. Any of the securities may be reserved now and arrangements made with us'for payment in July, 1927 ALEX. BROWN & SONS Oldest Banking House in the United States Washington Office 737 15th Street N.W.