Evening Star Newspaper, July 13, 1927, Page 10

‘FINANCIAL. "FINANCIAL/) THE NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. 10 BILSHODSWAY N STOD AR U. S. Steel Is Strong and Shares Take Cue—High- Grade Rails Gain. Money to Loan Secured by first deed of trust on real e Prevailing interest and commission, STAR, WASHINGTON, D. C., WEDNESDAY, JULY I Joseph I. Weller ‘,;-’,','!_‘_f e w SECURITY SAVINGS | o |N[:REASES BOARD sirst - Lowest Rates of Interest and Commission MONEY TO LOAN D. C. REAL ESTATE 6% Interest No Commission Charged for Securing Loan. Columbia Permanent Building Association 733 12th St. N.W. Main 352353 WE PAY MORE INTEREST ON SAVINGS ACCOUNTS Than Any Other National Bank in Washington Interest on DAILY Balances Come in and let us explain Commercial Nat'l Bank ‘ 1ith and G Streets | Reseurces, $17,000,000 | | R. GOLDEN DONALDSON PRESIDENT | High, Open. Hizh. Low.Close e ADItib! Pow (5). 94 95% 91 95% Air Reductn(16) 193 3 Ajax Rubber.... 8% Albny Pap pf(7) 97 Allled Chem (6). 149% 15 Allied Cm pf(7). 123% 123% Allis Chalm (6). 10 107 Amal Leather... 15% 15% Amerada (2) 304 Am AgriChpf.. 39 Am Bank N (2).. 61% Am Bosch. Am Br Sh(j1.60) Am Brown Bov Am Can (2) Am Car&Fd. Am Chicle (3). Am Drug (80c). Am Express (6). 142 Am & For Pow.. 21% Am&Fo Po pf(7) 100 Am Hide & Lea. . Low. Close. 53 5 Pullman Co (8). Puliman ctfs(8) pure Ol (12).... Purity Bak A(3) Purity Bak B(2). Radio Corp of A. Radio C pf (3%) RSIICefs (4). ReadIng (15)... Reading 1st (2). Real Silk Hos(4) Reid Ice Crm(3) Rem-Rand $1.60. Rep Ir & Stl (4). Reynolds Spngs. Rey Tobac B (5) Rossia Ins (6).. Royl D(a1.33%) Safety Cable (4) St Joseph L(13). St L&San F(18). St L Southwest. Schulte (3%). Seabd Alr Li Seab Alr L pf. ... Sears-R (n2%). Seneca Copper. . Shattuck ¥ G (2) Shell Tra (a96.7) Shell Un (1.40).. Simmons (2) Simms Pet, Sinclalr Ofl.... sSinclair pf (8) Skelly Oll (2). SPortoR Sug(n). South Porto rts. South Calif Ed.., South Dairies A, Sou Dairles B... South Pac (6)... Southern Ry (7). South Ry pf (5). Spear & Co...... Std G &E(3%).. Std G & E pt(4). Std Mill (5).. Std Millg pt (6). StdOilCal(12%). Std OILNJI (113) Std Oil NY (1.60) Streling Pro(i6) Stewart-War (6) Stromb Car (2). Studebaker (5).. Submarine Boat, Sun Ol (11)...0 Superior Oil. . Symington C1 A, Telautogra (60c) Tenn Copper (1). Texas Corpn (3). Gen Am Tnk (3) Gen Asphalt.... Gen Bakg pf (8). Gen Clgars (4).. { Gen Elec (15) GenElec sp(60c) Gen GasA(01%) GenMotors(10) 2 Gen Mot pf (7). Gen Outdr Ad(2) Gen Ry SIg (5).. Gen Refrac (3).. Gimbel Bros. ... {Glidden pr p£(7) Gold DUSt. vvsss: Goodrich Ru (4) Goodyr pr pf(8), Goodyear pf (7). Gothm S H (234) Gotham new 23. Gotham H pf(7) Granby (4)...... Grt North pf (5) | Gt Nor pt cfs(5) Grt Nor O(13%). Grt Westn Su(8) Gt West S pf (1) Green Canan.... Guantanamo, Gulf Mo & Nor.. |Gu M &N ot (6). Gulf States (5). Hacknsk W(1%) Hanna 1st pf.... Hocking Val(10) Hoe & COA..... Houshld P(3%). Houston Ofl. . Howe Sound (4). Hud Man (23) Hudson Mo(31) Hup Mot (1.40).. Illinots Cen (7). Indep Ofl (1).... Indian Mot (1%) Indian Refining.. Indian Refg ctfs Inland St (235).. Inspiration..... InterboroRapTr. Int Bus Ma (4).. i Int Cement (4).. Int Com Eng (2) Tut Harv (36)... Int Mtch pf(3.20; Int Mer Marin Int Mer Mar pf.. Int Nickel (2)... Intl Paper (240). Int Paper pf (7). Intl Silver...... 1 Int Tel & Tel (6) Int Tel & Tel rts Intertye (11%).. Jones Bros Te: Jordan Motor. Kan City South. Kan C So pf (4). KayserJ (4)... Kelly-Spring. Celly Tire 6% pf 1y Tire 8% pf Kennecott C (5). Kinney (G R)... Kinney pf (8)... Kraft Ch (113%). Kresge SS(1.20). Laclede G pf(5). Lago Ol (3).... Lambert Co (5) Lambert rts. ... Lee Tire & Rub. Lehigh Val(31) Lehn & Fink(3). Lig & Myrs(ft4) Lig&MyrsB(f4). Lig & M pf(7).. Lima Loco (4).. Liq Carb (3.60).. Loew's Inc (2).. Loft. .. . Loose-Wiles, ... Open. High. w 192 i Thomas J. Fisher & Company, Inc. 1% FIRST Mortgage Bonds Secured by completed buildings. Marlow-Beech Corporation 1615 Conn. Ave. Pot. 6167 Five Former Directors of| Central Savings Elected to the Directory. BY EDWARD (€. STONE. The directors of the Security ings & Commercial Bank today ele ed five former directors of the Cen-| tral Bank to membership in the Security board, making this bank's dircctorate now number 23. The new members elected at the meet- ing this forenoon include Dion v rney at law: B, H. Gruvi Harper, pre: Paper BY GEORGE T. HUGH! Epecial Dispatch to The Star. NEW YORK, July 13.—For the third successive day the elements favoring higher prices in the stock market had things pretty much their own way. The impressive manner in which the heavy profittaking sales, which came into the active favorites in the late trading Tuesday, were ab- sorbed encouraged further attempts to work for higher prices as the market opened today. The rise which car- ried through the greater part of the session was orderly, despite the im- provement which had occurred earlier = ey in the week Am Locomot (8) 104% United Sta Am Loco pf (7)., 122 was within 1 Am Metals (3).. 38 high establi Am Piano (3) 3 tribution was deducted from the price. | Am Po & Lt (11) This furnished the incentive for | Am Radiator(5). 1 constructive operations in_other in- [ Am Republic. dustrials, The mid-week steel trade [Am SafetyR(33) yeviews were more optimistic concern- | Am Seating(t4). ing operations at the steel centers, and [ Am Shpbd pf (7) 934 served to stimulate buying in such | Am Ship & Com. 1% independents as Youngstown, Re-|Am Smelting (8) 155% public Iron and Steel, Colorado Fuel | Am Snuft pt (6). 100% and Iron and Bethlehem. Am Stl Fdys (3). 474 Am Sugar Y Allied Chemical and Dye. s R Allied Chemical and Dye stood out |Am Tel & Ca(5). 30% strongly among industrial specialties, | Am Tel & Tel(¥) 164% advancing to its highest since the | Am Tobacco (8). 136 stocl; was listed in 0. Those back | Am T'obaccoB(8) 136 of (e buyvinz were b; ng their opera- 2 Am Typ Fdrs(8) 127 tions on the belief that the much k- | Am Type pf (7). 110 : ed of stock s near at hand. | Am W W (cl 60) 90 General sMotors held m of the |Am \\{ W ist(7). 111'% time around the 200 level. The re- Am \\_oolen.. 1 . port given wide circulation 3 Am Woolen pf. ihat plans were under consideration |Am Writ Pactfs } for another recapitalization of the|AmZincpt. financial structure stimulated activity | A1AConda (3) and a split up in the ratio of two new | 2¥10 0;&0’ Shares for each of the present, with [ 4Tt00T ¢ N e the new stock carrying a $4 dividend | oo DryG(“a; i was considered logical. ATR S sty 16an Motor shares as a group were | opiconoeth)® ol little changed. The covering move-| A G L (1834). s 1994 ment in Dodge Brothers issues, which | At) Gulf & W 1., 38 followed publication of second quarter | a¢] Refining (4), 117 earnings, appeared to have been com- | Atias Powder(4) 65 pleted for the time being. Mack / Trucks received better support and |BaldwinL (7).. 240% 2ir slightly higher prices were the rule | Bald Loco pf (1) for Nash and Packard. B:l["& om‘ De.. 116% Pronounced strength of the high- Bano&on“&’{)' ,;‘w grade dividend paying rails was gen- | g2/ c Q8 BLUL) (00 . eraily attributed to the reinvestment Bnng&.an::i Yl of mid-year interest and dividend pay- | pancor & Ar 215, ments. Atlantic Coast Line gained al- % . most four points. . BarnsdallA(2%) N. & W. Gains Heavily. Bayuk Cigars. .. Beacon Oll. 17 By P Norfolk and Western was up a like | peSh-Nut (1) 47 amount. Atchison, Baltimore and Ohio, | pei¢ I8 Bres (20 400 Southern Pacific, Illinois Central and | g),menthal pt 70 : Louisville & Nashville were others in| g,y Acd) 8% i urgent demand at higher prices. Some | pooihy Fisheries. T of the lower priced issues of the. t¥De [ Blicog Meg (3),, 26 of Chicago Great Western! preferred, | pritich Empire.. 1 1 Gulf, Mobile and Northern and Wa- | gyin Edison (8) 169' 169% bash shared in the improvement. Blkn-Mn Tr (4). 584 59 Collins & Aikman, which ha been |py‘NunTpe(6). 82w 834 among the outstanding features last| prown‘Shoe (2). 387 887 week, lost 4 points or more coinci-| pruncenclB3) 261 297 . dent with the offering of the new $5.- | Brunswick Ter. 9% ‘“ 500,000 issue of 7 per cent cumulative | Burng Bro (10)., 837 preferred. The sharp upturn in both | Burns Br B (2).. 181 American Smelting and Refining and | Bush Terml(b8) 61' Green Canada reflected no change in | Bush Ter de (7). 102 the outlook for the copper and metal| Butterick (g2).. 56' : 'stocks. They were merely bought on | Byer & Co....es 83% the idea that because of the improve- | Byers (rights... 2% ! ment elsewhere they were entitled to| By.Products (2) &0 . some Tecovery. ; : ®The market for the ol shares was | Calif Packs(4).. 034 littlo changed, although there was | Cabf Fetfol(Zl.s 23 :.-heavy selling of Barnsdall “A.” Lago, Can Dry (12% ). 48% i on the other hand, was in demand at | S8 DIV L (10, 1831s higher prices, the buying based on the SnR(8) 22704 ! recent development on the company’s : new tract in the Lago basin. Sav- WE OFFER CHAMBERLIN-VANDERBILT HOTEL First Mortgage 615 Per Cent Sinking Fund Gold Bonds—Due 1942 dent of the Charles W. Morri and Jua torney at law. The directo bank are ¥ Amer Ice (rts) Am Internatl First Mortgage LOanS Intangible Personal Property Taxes up to 514 Mills refunded. Estimated net earnings over 5.7 times interest requirements. Blundor Steel " Harrell, J. 1 an a_point of its hed after the stock dis- crossing 1 ; Applications Invited at 5%% On Improved Property He liam Hill, Georg: H. Levi, Fred McKe aurence Mills, Julius Morris Simon, William W, § dne Y. Straus and Will Sullivan. At today’'s meeting much gratifi- cation was expressed over the op- eration of the new branch at 710 Fourteenth street, both in the added accommodations the bank is now able to extend to uptown customers and to the new business as well. Bankers Adopt New Note Plan. The District Bankers' ; the special meeting yesi noon, sided over the Application will be made to list these bonds on the Washington Stock Exchange. Price 100 and interest to yield 6.507,. 59% 45 4% Construction Loans at Minimum Rates Glover & Flather 1598 H St. NW. 156% 15 54% 100% 100% 4T’ rvey 90% 83l 65 557 30% 30% 164% #3700 13613 128 110 90% ity 19% 129% Circular on request 19% 24 8 133'% 19' CRANE, PARRIS & COMPANY Investment Bankers since 1883 823 Fifteenth Street N.W. Washington, D.C. of the memhers Bankers Association t trust real estate notes sued should bhe iden 1 s themselves by one of the recognized title companies, or the member banks will not look with favor upon their purchase or accept ance as collateral for a loan. “That it is the sense of the mem- bers of the District Bankers Asso- ciation that all real estate notes other than first liens should be identified and certified to by the title companies, or at least a notary public, and complete papers including title certificate, in surance policy and recorder's receipt for the deed of trust, should be fur- nished in every instance where loans are requested against said notes as collateral.” This step is considered one of the most constructive and important moves taken by the association in several years. The matter was brought to a head by Francis G. Addison, jr., in an_address at the annual conven- tion. Yesterday’s discussion was high- ly interesting and it is believed that with_the co-operation of the Washing- ton Real Estate Board, brokers and builders, the banks will avoid many losses in the future from this source. Finance Company Dividends. The board of directors of the Union Finance Co. at the regular meeting, held at noon today, declared a quar- terly dividend of 50 ‘cents per share on its $25 par value preferred stock and 10 cents per share on its common stock, payable to all stockholders of record on June 30. This dividend is the twenty-eighth consecutive quarterly disbursement to its stockholders, and the company has with this payment, returned to stockholders in cash $203,3: 8 in its seven years of corporate life, and in addition has created satisfactory surplus and undivided profits ac- counts as is shown by its statement. Local Securities Again Firm. Potomac Electric Power 6 per cent preferred stock sold at 108% today, while the new 5% per cent issue held Capital Traction remained at 105 and 60 shares of Washington Market Co. changed hands at 50. Mer- chanis’ Transfer & Storage preferred moved at 100%. D. C. Paper appeared on the board today, 20 shares selling at 88%%. Chesapeake & Potomac Telephone 58 sold at par and %, Potomac Elec- tric 6s sold at 108%, and Ra Electric 4s at 8 Gas 6s Series appeared at 102% for a baby bond. Piggly Wiggly Opens Bakery. Announcement was made today of the opening of the first bakery to be located in Washington by the Piggly ‘Wiggly Corporation and the Piggly Wiggly Stores, Inc. This new pha of the firm is housed in the war house of the local plant, at 1935 Fifth street northeast, and has a capacity of about 15,000 loaves daily. The cost of setting up the bakery to serve the Washington stores was reported to approximate $50.000. Formal opening of the new bakery plant was marked yesterday afternoon at a gathering of high officials of the organization at a luncheon at’ the warehouse and today the group went into conference at the Mayflower Ho- tel. Among those attending were E. Maury of Memphis, Tenn., presi- dent of the corporation; J. R. Peters, vice president; John I. Powers, Dis- trict manager; 1. C. Bradford, attor- ney, and M. L. Langford, the general manager of all bakery plants of the organization. Detroit Convention Gala Affair. Miss 8. Winifred Burwell reports that the Washington delegation is hav- ing a delightful visit at the institute’s Detroit convention. One of yesterday's addresses was made by Melvin A. Traylor, president of the American Bankers’ Association. A convention publication states that the delegates have the keys to the city and are en- Jjoying every minute of the sessions. The stop-over in Pittsburgh includ- ed luncheon at the Athletic Associa- tion's annex, sightseeing tours of the downtown, residential and park sec- tions, dinner and a special entertain- ment in the evening. 2 Heard in F° ncial District. Norman R. Hill of Williamsport, Pa., will address the local insurance men at tomorrow’s luncheon at the 154 The Departmental Securities Corporation OVER 7% On Your Money OFFICERS Tex PC&O(606), JOS. T. EXNICIOS, President Tex Land Trst n. R. B. DICKEY, Vice President The Fair (2.40).. Thompson (3.60) Tide WAS(1.70). Tid WASO1IDE(6) Timk Roll B(15) Tobac Prod (7). Tobac Prod A (73 Transcont Oil... Transue & Wil Underwood (4).. Un Bag & Paper. Unilon Carb (6).. Union Oil (12%) Un Pacific (10).. Un Pacific pf(4). Union Tank (5). Utd Cigar S(c2) Un Cig St pf(7). 1 United Drug (9) Ctd Dyew pf (7) Utd Fruit(15%) USCI1P&F(10) U S Dist cfs new S Hoffman (4) S Alcohol (5). S Leather A... SLeat pr pf(7). CLYDE REED C. E. McCOY 17% Tin 17 53% The 7% cumulative preferred stock of the Departmental Securities Corporation”at $97.50 per share offers a profitable investment. The par value is $100 per share. This means a yield of 7.18%. BUSINESS The business consists of buying First and Second Deed of Trust Notes on the properties of home owners, making’ loans on carefully selected Washington real estate and financing permanent improvements on home owners’ properties. Titles and insurance are required in all cases before loans are granted. Careful appraisals will also be made by a competent committee thoroughly familiar with Washington real estate values or by experienced contractors skilled in their respective trades in the case of home improvement loans. REDEMPTION The stock is redeemable as a whole or in part, at the option of the company on any interest date on 30 days’ notice, at $105, plus accrued dividends, aft~r June 30, 1930 TAXES 3 These securities are free from local intangible tax. DIVIDENDS Dividends are payable semi-annually on January 1 and July 1 of each year. Partial Payment Plan Available DIRECTORS DAVID D. CALDWELL Attorne; Department Justice GEORGE J. CROSS, JR. Heating Contractor RAYMOND B. DICKEY Attorney at Law_and In- structor with A. T. B. JOS. T. EXNICIOS President, Departmental Bank MARSHALL Investments E. W. LIBBEY Chiet Clerk, Department of Commerce DR. J. FRANKLIN MEYER Assistant Chief of Electri- cal Division, Bureau of Standards C. E. McCOY Examiner, Bureau of Finance, Interstate Com- merce Commission CLYDE REED Chiet _Clerk, Bureau of Supplies and Accounts, Navy Department A. RICHARDS Building Contractor L. A. ROSAFY Chief of Old Records Divi- sion, Adjutant General's Offices, War Department G. L. SHOREY Personnel Officer, Bureau of Navigation, Commerce Department SIDNEY F. SMITH Examiner in Chief, Board of Appeals, Patent Office JOSEPH STEWART (1) Special Assistant to At- torney General for Post Office Department (2) Executive Assistant to Postmaster General JOHN G. TEXTER Bureau of Finance, state sion 51 133% 424 176% of - 0. EXNICIOS Loutsiana O LouisGasA(1.75) Louis & Nash(7) Ludlum Steel(2) Mack Trucks (6) Mack Trk 2d (7). 105 1 S Rubber. S Rub 1st (8)., S Smelt (332). u U u Ui Lorillard Co...a g K U S Realty (4) Y u u u U S Steel pf (7). Uni Pic 1st pf(8) Unv P&R(1213). Uni Pipe pf(7).. Utl P&LL A (e2). Vanadium (3)... Van Raalte..... Vick Chem (4).. Victor Tlk Mch, Victor ¢v pf (6). Victor pr pt (7)., Va-Caro Chem Va-Car Ch 6% p1 Va-Car Ch pf (7) Vivadou (3).. Vivaudou pf (7). Vulcan Detin... Vule Det pf (7). Wabasn. Wabash pf Wabash B(5). .. Waldorf (1%) Ward Baking B.. Warner Pic A. .. Warner-Quin(2) WarF&Pipe Cor. Weber (4)...... W Penn ELA(7). W Penn EI p£(7) West P Po (6).. West P Po p£(7) West Maryland West Md 2d pt West Pacific. ... West Pac pf (6). West Unlon (8).. WesthseAirB(7) Westinghse (4). Weston Electrie Wheel & L E pt. White Mot (4).. White Rock (2).. White Sew M(4) White Sew Mach Wickwire ctfs. .. Willys-Overland Woolworth (5).. Worthn Pump... Worth Pump (A) Wright Aero (1) Wrigley (t3%). Yale&Towne(5). Yellow Truck. .. 3 YungstnS&T(5). 85% 8T% Hourly Sales on N. Y. Market. 1lam.. 535600 12noon. 813,200 1pm.. 1,100,900 2pm.. 12314300 Dividend rates as given in the abo are the annual cash pavments based on the latest quarterly or half vearly declarations. Uniess otherwise noted. extra or special divic o than 100 shares. + Partly extra. lus tock. 4 Pay: able in common stock. 1 2/50 in stock, aPaid thls vear—no recular rate. bTen per cent in common stock. pava ., e Payable il 0% 1n stock. & are 1 * | Man EI Sup (5).. { Man El m g (d5) Man Shirt (13). Maracaibo Oil. Market Street Market St prior. Marland Ofl. .. Marlin-Rek t3% Martin-Pary(2). Mathieson (4) Case Threshg(6) 227% Cent Alloy (2).. 27% Cent Leathercfs 14% Cent Lea pf ctfs. 74% Cen Ry NJ(112). 330 Cerro dePas(15) 59% Certain-Teed(4) 51 Certain-T 1st(7) 109% Chand-Cleve.... 7% Chandler pf(2%) 20% Ches & Oh1o(10) 180% Ches Corpn Chi & Alton. . Chi & Alton pf.. Chi & East Il Chi & East Il Chi Great West., Chi Gt West pf.. ChiMil & StP.. Chi MII&StP pf.. CM&StPefs.. C M&StP pfefs, 2 Chl & Nwn (4).. &84 Chi Pne Tool () 133 Chi Rock Is (5). 115 CR1&Ppf (6). 100% CRI&PDf (7). 107% Chi Yellow C(4 Wall Street Briefs NEW YORK, July 13 (#).—Infor- : mal agreement is reported in Pitts- : burgh dispatches to Wall street to { have been reached for a merger of :Bucyrus Co. and Erie Steam Shovel { Co., the plan to go before directors i of the companies the latter part of this week. Sherwin-Williams _Co. declared an | extra dividend of 25 cents and the regular quarterly of 50 cents a share . on the common, same as in the pre- i ceding quarter, and payable August ! cent preferred with $12,500,000 of ner '35 to holders of record July 30. Di- rectors approved refunding the 7 per 6 per cent preferred. The present _ preferred will be redeemed September ©1 at 105, holders having the privilege 1o subscribe at $102 a share, one ‘ghare of new for each now held. Directors of the Norfolk Southern Railroad discussed only routine busi- ness at their meeting yesterday. Universal Pipe & Radiator Co. de- clared an extra dividend of 25 cents and the regular quariérly of 50 cents a share on the common stock, payable October 1 to holders of record Sep- tember 15. Three months ago the company inaugurated dividends at the yate of 50 cents quarterly, and de- clared an extra of 25 cents. Public offering of $5,500,000 of 7 per cent preferred stock of Collins & Alk- man Corportion at 103 is made today by Lehman Bros. The financing is in connection with a recent merger of four textile companies. Cons Gas pf (5). 97 — ConRRCuba pf 6 69% General Baking Corporation Teports | Consol Textile. . net income of 33,871,971 for the 27 |Gont Bakg A(4) weeks ended July 2, against $2,863,359 | Cont Baking B in the corresponding period last Year. | Cont Bak pt (8). Youngs- Mexican Seab... Miami Cop (1).. MidContinent(3) Middle States. .. Miller Rub (2).. Minn & St Lonis. Min St P & SSM., M St P&SSM pf. Mo Kan & Tex. . Mo K & T pf (6) Missouri Pacific. Missour! Pac pf. Montana Pow (5) Montgmry W (4). Moon Motor. . Mother L (50¢) Motion Pic (1).. Mullins Body. .. Mullins B pf (8) Childs ($2.40). Minsingws (1), Chile Cop (234). 33 3 BLUEray;COEDR. - Christie B (1.20) 61% ' | Nash Mot (141) Chrysler Corp(3) d46% sh & Chat (7) Chrysler pf A(8) 111% Nat Acme (sta). City Stores (B). 46% Nat Bellas Hess. Coca-Cola (5)... 117 NatB Hess pf(7) Collins & Aik(4) 110 Nat Biscuit t5% Col Fuel & Iron. 95% Nat Cash R(A)3 Col Gas & El (5) 93 Natl Dairy (3).. Col G&E pf A(6) 105 Nat Dept Stores. Nat Distillers. .. Nat Distillers pf Nat Enam pf (7) Nat Lead (5)... Nat Pw&Lt(80c) Nat Ry Mex 2d.. Nat Surety (10). Nat Surety rts.. NatTea (4).. Nevada C(1%). NOTex &M (1) N Y Alr Br (3).. N Y Cent (8). N Y Central rts. NY Chi&StL(11) NYC&StL p£(6). NY DOcK..oou.s NY Dock pf (5). NY & Harl (5).. NY NH & Hart., NY Ont & W (1) NY State Rys pf . 0%,40 NY Steam pf(6) share In stock us iy tock. 1 Plus NORIAK BN .. o e a1 /30" 5l & share auarterly Norf & W (8)... 9 83 | i s A stock, mPlus 8% in_ stock. NorAm b10% stk 7 Tt n Partiy stock, - B Plus $3 in oreferred siock. North Pac (5)... > 3 | @ Pius one-halt of common stock. Nor Pac cfs(5) il Well Sup. ‘WOOL QUOTATIONS. BOSTON, July 13 (Special).—Asking 113% 3% 95% 93% 20 Subscriptions are now being received by The Departmental Bank ‘Washington, D. C. 1714 Pennsylvania Avenue N.W. Telephone Main 2815 51% 106% 55% 1054 Inter- Commerce Commis- $98,855,000 Bonds Called HE record of the calls of Straus Bonds before maturity during the last decade is an interesting one. It throws a strong sidelight on the operations of S. W. STRAUS & CO. and the success of its policy of purchasing bond issues on successful properties. Com Powr (2%) Com Solv B (8) Conde Nast (2) Congoleum N Cong Cigar (4) Con Cigars (7) Consol Distribu Consol Gas (5).. 103% 57% 79% Here is the record of called bonds — only a fraction of the total Straus underwritings: General Fireproofing C town, had surplus of § half vear, after depreciation and pre- ferred dividend requirements, but be- fore Federal taxes, nst §495,496 in ¢he first half of 5 Owing largely to the recent duty imposed on tires imported into Eng- land, the Goodyear Tire & Rubber Co. has made arrangements to start manufacturing tires in England, and | SESEar s Bhi)- 113 has acquired a_model plant and 70 | el e (g acres of land at Wolverhampton, near | perer-t Fill)e 510 Birmingham, The present buildings | = Corn Prod (13) Coty Inc (5). CrucibleSteel Cuba Cane Sugar Cuba Cane Su pf Cuba Compy (3) Cuban Am S (1). Cudahy Pkg (4). 49% Cushman’s (§4). 118 Number of issues called . . . . o kel n 159 Amountcalled . . . . . . $ 98,855,000.00 Premiums paid to Bondholders . . . . . 3,439,135.00 Principal and premiums paid to Bondholders 102,279,540.00 Now, as in the past, S. W. STRAUS & CO. continue to offer i 1 e o o e Omnibus. a capacity of 2,000 tires and| s daily and additions will be made as business warran This _plant, with the new Australian factory, gives the company six tire factories in various parts of the world. The Proudfoot Commerical Agency #nd L. E. Chinal & Co. Inc., com- mercial reporting and investigating, ha Chinal & Co. Orders received by General Electric the first half of 1927 Del L& W (7). {DRG Wst pf. | Detroit Ed (8).. | Devoe & R(2.40) | Devoe&R 1st(7). Diamd Mtch(8). Dodge Bros Cl A Dodge pt (1) . Dome Mines (1). Doug-Pec(t21) | Dul S S & Atlan.. e been_consolidated as Proudfoot, | n,ponsCouny 7 941 Castman (18)... Eaton Axle (2).. 627% 147 39% 107 124 19% 0t T 79 31 165% 2T% totaled | Efsenlohr & Bro. 13% of 6 per cent. | Bl AutoLt(16%) 87% 0 booked in ond quarter prders were $78,105,247, 2,062 in the same period last year. DIAMOND OUTPUT UP. NEW YORK, July 13 UP.—World Production of diamonds in 1926 reach- ed the total of 5,649,100 carats, an inerease of 28 per cent over the 1 output, Engineering and Mining Jou: nal reports. The United States is the principal consumer of diamonds, the publication says. Canada is increa: ing her imports and is a_potential market of importance. In 1926 Eng- Jand, owing to its prolonged strike purchased few stones and France bought less than the normal quota. . Melbourne, Australia, is to have a | Electric Boat. | Elec Power & Lt 17 228 - | EP&LDL 40%(7) 114 22% 22% 14 114 | Elec PALE 2(T) 108% 103% 103 lec Refrigeratn 'm-Brantgm(A) End John (5). Engineers Pub Epgit Bldg(7) Srie R R, 1st pt. 12% 7 69'% 2% 55% Erle Stm S(23) 8 Eureka Va f14% Fed Light & Tra: | Fed L&T pf (6). Fed Mot T(f80c) Fid Phoenix (4). | Fisk Rubber. ... | Fleischmann (3) Foundation (5). Fox Film A (4). Freeport (1414). Gabriel Sn(3%), 47% “ 123 13 T 69% 69% 2Th 89 56% 60% 34% 4% 43% 12% 7 Otis Stl prior(7) Pacific Gas (2). Pac Oil Stubs. .. Packard (12.90). Paige Motor. Pan-Am B (6). West B am (§8) Park & Tilford. Pathe Exchange Pathe Ex A (4). Patino(1.21 2-3) Peerless Motor. . Penick&Ford(1) Pa DixfeCt(3.20) Penn-Seab Steel. Penna R R (3%) Peoria & East. Pere Marq (18). Pere M prior (5) Phila Co (4). Phila& RC&I Philip Morris Phillips Pet (3). Phoenix pt (7). Plerce-Arrow Plerce-Ar pf(8). Plerce Oll. .. Plerce Petrolm Pitts Coal. .. Pitts & W Va(6) Porto Rico Tob Porto Rico To Postum (5) Pressed Sti Prod & Refiner: Producers&R pf. Pub Serv NJ (2) Pub SE&G pt (6] 41 40'5 408 07 107 % 40% 107 eighths blood, 88 to 92 179 prices on Ohio quarter blood are now more generally at 44, with Michigans held for 42. Sales are understbod to have been made at advanced prices. Quotations today for Ohio grade fleece wool, grease basis, were: Fine de- laine, 45 to 46; half blood, 44 to 45; three-eighths blood, 43 to 44; quarter blood, 43 to 44. Territory, clean basis: Fine, 1.08 to 1.12; French coming, 1.03 to 1.08; half blood, 97 to 1.03; three- quarter blood, Pulled wools, double A, fine A, 97 to 1.03; A super, white B, 87 to 90;' B super, to 82. COTTON GOODS ACTIVE. NEW YORK, July 13 (Special). Cotton goods markets had another ac- tive day today, with prices firm, Print cloths were quoted unchanged at 7% for 64x60s, and 8% for 68x72s. Raw silks were quieter, but steady. . RUBBER IS HIGHER. NEW YORK, July 13 (Special).— Crude rubber, smoked ribbed sheets, advanced 3 of a cent at today’s noon quotation of 343%. This compares with 38 a month ago and 41% a year ago. A A clarinet of metal instead of wood has been introduced into this country % from ¥ i P " v Raleigh. Mr. Hill has made a bril- liant record in his feld and is an ex- cellent speaker. Two important publishers of loose- leaf tax services have merged into a new firm, known as the Commerce Clearing House Inc., Loose-Leaf Serv- ice Di on of the Corporation Trust Co. Tt is a Chicago firm and wi'l have an office here, Vice President R. E. Bolling of the Merchants Bank & Trust Co. turned from his annual passed at Abingdon, Va. 3. J. Emrich, treasurer of the same i: taking part of his vacation this week. Charles' R. Grant, treasurer of the Washington Loan & Trust Co., and John Clapp, a divector, are on a fish- ing trip at Boca Grande, Fla. R. W. Carter, manager of the Wash- ington office of Henry L. Doherty & Co., reports that the company made a gain of $7,499,538 in net earnings in the 12 months ending on May 30. -— COMMISSIONS CUT. NEW YORK, July 13 (#).—Me bers of the rubber exchange of New ‘ork have approved a reduction of about 40 per cent in commissions, The new rates, which the exchange says will save hundreds of thousands of vacation dollars annually to jBubber manufac- turers, who hedge their purchases through the exchange, went into ef-! St A0GAY . X INVESTMENT BONDS R TR SR S.W.STRAUS & to the public sound first mortgage bonds, similar in type and in safeguards to those which have been called at a premium. These bonds have been purchased after careful investigation, and at present are offered to net around 5 % — 6%. We suggest that you investigate these high-grade securities. As a first step, ask for BOOKLET 49%4-G 929 FIFTEENTH STREET Telephone Main S847 WASHINGTON ESTABLISHED IN 1882 CO. INCORPORATED