Evening Star Newspaper, July 26, 1927, Page 10

~ TIN ANCIAL. THE EVENING STAR, WASHINGTON, D. €., TUESDAY. JULY 26, 192T. ranANCIL Ak, RAILS ARE LEADERS INSTOCKS TODAY Industrials Active, Steel Hit- ting New Top—Erie Fea- ture in Carriers. Special Dispateh t NEW YORK, July under different leadersh market pushed ahead today. At intervals there was al of nervous realizing, hut it was quickly absorbed and the upward movement resumed. There was nothing fresh in the way of news, but the confidence inspired by the market's action itself was plainly growing. X The railroads took a more prominent part in the proccedings today than ¢, when industrials were ¢ in favor, but the latter were not neglected. Independent motor company stocks and one or two of the independent steels shaved with Gen- 1 Motors and U. interest. There wer spots, and those most which had been under pressure in previous sessions. Steel at New High. United States Steel made another new high for the present shares eatly in the and General Motors equaled its previous high about the same time, reacting somewhat later. On the other hand, Chrysler, Nash, ckard and Overland were all very strong. er made a new high for the vear vas perhaps the most active of the lot, although the turn- vver in all of them was large. No- where was there any evidence of con- cern about Ford competition. In fact, the feeling seemed to be that Ford | would have difliculty in catching up with the start his rivals have already made. Of course, opinion on that point is subject to rapid revision when | the occasion warrants. The strength in the rails was all the more noteworthy because it coin- cided with the release of a batch of June earnings statements, nearly all of which showed losses from the same month a year ago in both gross and net. Specifically Chicago, Great Western, Lackawanna, Chicago & Alton, South- ern Railw: Chesapeake & Ohio, Nor- folk & Western and Lehigh Valley all reported lower earnings than in June, 1926. Nevertheless the rails were the Jeaders of thé market from time to time. = Erie Is at Peak. Conspicuous in this part of the list was Erie, above 63, and at the highest the common stock has ever sold. The fnvestment inquiry showed itself in Union Pacific, Baltimore & Ohio and Reading, among others. Union Pacific nt 183 was above anything of record pince 1911. The enhanced value of Union Pacific’s holdings in other rail- roads is just beginning to receive mar- ket recognition. As for Reading, it was the large equity the stock repre- sents, as well as the possibility of a dividend increase, that was stressed. Many specialties joined the upward movement today. Among these may be mentioned Julius Kayser, Pitts- purgh Coal and Remington Rand. Fome of the oils were weak, but the gelling was not pressed. 26.—Although the stock 1in zood d New Bond Issues 3W YORK, July 26 (Special).—A hanking group _consisting of Blyth Witter & Co. Chatham Phenix N; tional Bank & Trust Co. and J. Henry Behroder Banking Corporation today offers an issue of $3,396,000 City of Buenos Aires external sinking fund 6 ‘per cent bonds, series “C"-2, maturing “April 1, 1960. Of the total amount of {ssue, $1,500,000 of these bonds have been placed abroad. The bonds are .priced at 97% to yield 6.17 per cent. An issue of $3.600,000 City of Cleve- land bonds made up of $3,470,000 in #1, per cent bonds, due serially from 1928 to 1957, and $130,000 in 5 per rent bonds maturing 1928 to 1932 is being offered by a syndicate composed of Estabrook & Co., Hallgarten & C the William R. Compton Co., Stone Webster & Blodget, Inc.; the First vatienal Co. of Detroit and Otis & Co. he bonds are priced to yield from .75 to 4.05 per cent. P. W. Chapman & Co. and Colvin & Lo. offer a new issue of $2,500,000 first closed mortgage 6 per cent sink- Ing fund bonds of the Chicago Eleva- tor Properties, Inc. The bonds mature In 1942 and are priced at 99 to yield About 6.10 per cent. WILL NEED MORE CARS. Movement of Country’s Commodi- ties This Summer Heavier. ‘Transportation of 27 of the coun- {ry’s principal commodities during the months of July, August and Septem- ber of this year will require approxi- mately 416,197 more cars than were heeded during the same months last ear, the American Railway Associa- :ion estimates, Reports from the 13 shippers’ re- fional advisory boards, the association gald, showed 80 cars would be heeded for thesc three months, as com- pared with 9 ltrmd last S 567,383 for the same WOOL PRICES FIRM. . July 26, (Special).—Prices In the Boston wool market are hold- Ing firm in the face of large arrivals of wool from the west. Since July i more than 44,000,000 pounds of fomestic wool has been reported as prriving in against 0,000,000 pounds A better femand has developed for three-eighths blood Ghio & and current. prices ha 1 up to a level able with quarter blood. Both ound 44 Half-blood cents, t 1.08a rompa tedium tents g nbings # Fine terr wool is quo 1.12 clean basis, and ¥ ombing I8 “active 1.0521.0 exas 12 tonths wools are quoted at 1.07aL1l. R e 1 RUBBER ADVANCES. NEW YORK, July 26 (Spec Crude rubbe smoked ribl she % ndvaneed today’s noon quotation o This compares with 36% a month ago and 41 a yes HBo. ALLIS CHALMERS EARNINGS. NEW YORK, July 26 OP). — Allis Chalmers Manufacturing Co, earned $2.09 n the common stock in i Wl gquarter and §$4.2 $u the half year. Net profit quarier was $831.957, and half ye D. for DIVIDENDS. Yolder Am W Wks Do B Emme Talumer & Do 5 Do’ Chimical. . Do pf g 1 Radio A i i &K V&S old N e art-W. - S | Am Woolen pt Received AbItibl Pow (5). Abrahm&Straus Abr&Stras7%pt 11215 1 Adams KxD (6). 162!y 16 Ahur Lead.. 4 Air Reductn(16) 195 Ajax Rubber.... N4 Alaska Juneaw.. 1 Allted Chem (6). 152'% Allis Chalm (6). 103's Amal Leather. 16'% Amerada (2). e Am Agricul Chm Am Agri Ch pf., Am Bank N (2). Am Bosch...... Am Br Sh(j1.60) Am Brown Bov. Am Can (2). Am Car&Fdy(6) Am Chicle (3).. Am Drug (80¢). Am Encau (2.40) Am Express (6). 133!z Am & For Pow.. 21 Am&Fo Po pf(7) 100'5 100t 10015 100's Am Hide & Lea. . 10 9 Am Hide & L pf. Am Ho P (2.40)., Amer Ice (rts).. Am lce pf (6)... Am Internatl( 4419 61y 1 Am Linseed. Am Linseed pf.. Am Locomot (8) 1 Am Loco pf (7). 1 Am Machine ( 90 Am Metals (3).. 40 Am Piano (3)... Am Piano pt (7). Am Po & Lt (1) Am Radiator Am Republic. Am SafetyR(13) Am Seating(t4). Am Shipbldg (8) 98 93 AmShip & Com. 413 44 4 Am Smelting (8) 161% 1632 161 Am Snuff (12).. 127 Am St Fdys (3) 53'3 531s 52% Am Sugar pf (7) 110 110 110 Am Sumatra.... 58% 614 5 66 66 104% 104% 125 10; 20 4014 3T 95 6114 60% 614 49 98 4 W | 110 by Private W rbanks (3). fed Lt (h2.40) Ked L&T pt (6). Fed Min pf (7) Ked Mot T(fStc 1sk Iubber. leischmann; L Gabriel Sn(314)., Gardner Motor. . ien Am Tuk (3) on Asphalt.. .. Gen Bakg pt (). n lslec (15). .. lec sp(6oc) (01%) GenMotors(110) Gen Mot pf (6).. Gen Mot pt (7). Gen Qutdr Ad(2) Gen Ry Sig (5).. en Refrac (3).. nbel Bros. ilidde Co. .. old Dust | Goodrich Ru (4) | Goodyear pf (7). ! Goodyr pr pf(8). Gothm S H (2%) Gotham new 214 Gotham H p£(7) Granby (4)..... Grt North pf (5) Gt Nor pf efs(5) i | Grt Nor 0(114). Gt West S pt (7) Green Canan. Guantanamo. Gulf Mo & Nor.. Am Tel & Tel(9) 1 1667 | w Am Tobacco (8). 1 ' Am TobaccoB(8) 142 Am Typ Fdrs(8) 12015 130 Am WW (c1.60). 9115 Y1 911 AmWWefs 1.60. 91t 92% 91k 92% | Am W W IstZ). 111' 111 111 111% Am Woolen. 20% 21% 51% 52'g 173 18% 43u 44 T Th 45% 46 41y 41y 107 107 9% % 6 6 Am Writ Pa ctfs Am Wr Pa pf cfs AMZINC.seeraen Anaconda (3)... Archer-Dan (3).. Arch-Dan pf(7). 107 Armourof [11(A) 9% Armourof Il (B] 6 Arnold Con&Co.. 23% 33% 33% 33 Artloom (3)..... 47 47 47 47 AssoDry G(2%2) 43'% 43% 43 43y Asso D G 1st(6). 103% 103% 103% 1034 AUT& SF(19% ). 187% 189 186% 185% Atchison pf (5).. 102% 102 102% 102 AUCL (18%).. 200 2023 200 202 AUGUIf & WI.. 36% 38 365 88 Atl Refining (4). 118% 119 . 115 118 Atlas Powder(4) 60 60 60 60 Atlas Pow pf (6) 102 103 102 103 Austin-Nichols.. 4% 4% .% 4% Austin-Nich pf.. 26l 6% 264 26'% Baldwin L (7).. 248% 249 248 24 Bald Loco pf (7) 123 123 Balto& O (6)... 116% 118% 115 117% Balto&Ohpf(4) 77% 78 77% 18 Bambgr f(615) 108% 108% 108% 108% Bang & Ar (3).. 79% 82 - 9% Bangor & Arrts. 3 3% Barnet Leather. 53% BarnsdallA(23%) ~ 23 Barnsdall B(2%, 22% 22% Bayuk Cigars... 90% 90% 90% Bayuk 1st pf(7). 108 108% 108 Beechnt pf B(7). 115% 1 Belding Bros (2) 23% Best&Co....... 50% B50% 50% 507 Bethlehem Steel 53%a 54% 5% 54 Beth St pf (7).. 111% 111% 111 111% Bon AmiClA(4) 56% 56% 66% ably Botany CMillsA 21W 21% 21w 214 Briggs Mfg (3). 27% 28 274 273 Bkin-Edison (8) 169% 171 169% 171 Blkn-Mn Tr (4). 58 53% 56% 56% ByManTpf(6). 83 8 83 &3 Bklyn UnGas(5) 119 119 118 119 Brown Shoe (2). 42% 42% 42% 4.3 | Brunswick B(3) 29% 29h 28 294 Buft&Susqpf(4) 5! 51 51 51 Burns Bro (10).. 95% 95% bl 95' Burns BrB(2).. 21 21% 21 21% Bush Term (b8) 60 60% 60 60% Bush Ter de (7). 102% 102% 102% 102% Bush Trm pf (7) 113% 111 1131 114 Butte Cop (50c). 4% 4% 415 4% Butte&Super(2). 9% 9% 915 9% Butterick (82).. 52 b2is 5l% b52ip Byer & Co... 8% 35% 835 81 Byer & Copf(7). 109 109 109 109 Calif Packg(4).. 644 64% 64 64 Calif Petrol(2).. 24% 24% 24'% 24% Callahan Zinc... 1 1% 1% 1% Calumet & Ar(6) 69% 70% 694 70 Calu & Hecla(2) 15% 15% 15% 15% Canada Dry (3).. 51 51% 50% 51 Can Pacific (10). 187% 188% 187% 188 Car,CI&0 sta (5) 101% 101% 101% 101% Case Threshz(6) 257 257 253 255 Cent Alloy (2).. 28% 29 28% »9 Cent Leather pf. 80 80 TR 9T CerrodePas(t5) 61% 61% 59 . €) ! Certain-Teed.4) 49% 49% 49 4, Chand-Cleve..., 7% - 7 Chandler pf(%33) 19 1% Ches & Ohlo(10) 18 186'4 Ches Corpn. 3 67'% Chi & Alton. 8% Chi & Alton pf.. 15% Chi& EastIll... 44% 44 Chi & East 11l pf. 76% 6% Chi Great West., 17% 17% Chi Gt West pf.. 38% Chi Mil & St P, 16 CM&StPefs 15% Chi MII&StP pf.. 321 107 9% 6 18'% 189 188 69% 8% 16% 44% 77 18% 39% 16 15% 3219 16 | 15 2% 16 15 3% Guif States (5) flanna Ist pf. Hav £l Ry pf (6} Hollander & Son Houshld P(33). Houston Oll. ... Howe Sound(4). | Hud Man (2%). Hudson Mo(313) Hup Mot (1.40).. linots Cen (7) Indep Oil (1). Indian Mot (1 Indian Refg ctfs Ind Ref pf(7)... Inland St (2%4) Inspiration..... InterboroRapTr Int Agricul prior Int Bus Ma (4).. Int Cement (4).. Int Cement pf(7) Int Com Eng (2) Int Harv (j6) Int Mtch pf(3.20; Int Mer Marine, Int Mer Mar pf int Nickel Intl Paper (240) Int Paper pf (6). Int Paper pf (7). Intl Silver...... Int Tel & Tel (6) Int Tel & Tel rts Intertye (11%). Jewel Tea... Jones Bros Tea. Jordan Motor, Kan City South. Kayser J (4). Kelly-Spring. ... Kennecott C (5). Keystone T & R. Kinney pf (8) Kraft Ch (113%). Kresge (1.20) Kresge Dept S.. Lago O11 (3).... Lambert Co (5) Lee Tire & Rub.. Lehigh Val(334) Lehn & Fink(3). Life Sav (1.60).. Lig&MyrsB(f4). Lima Loco (4).. Lig Carb (3.60) Loew's Inc (2). Loft.. . Long Bell A (4). Loose-Wiles. Lorillard Co. Louisiana Oil LouisGasA (1. Louis & Nash(7) Ludlum Steel(2) Mack Trucks (6) Mackay (7)...e0 Magma Cop (3) Mallison & Co. . Mallison pf (7) Man ElSup (5) Man El m g (d5) Man Elev gtd. . Man Shirt (13). Manila EI (2%%). Maracaibo Oil. Market St prior. Marland Ofl... Marlin-Rek t3% Mathieson (4).. Mathieson pf(7) May Dept S (4).. MaytagCo(t2%) Mexican Seab. Miami Cop (1).. MidContinent(3) Middle States. ... Midiand pf(112) Mid States Ofl ct Miller Rub (2) Minn & St Louis, Mo Kan & Tex. . C M&StP pf cf: 29% Chi & Nwn (4).. 89 Chi Pne Tool (&) % Chi Rock Is (5). 114' CR1&Ppt (6). 100% CRI1&PpL(7). 108% Childs (32.40) 61% ChileCop (2%). 35% Christie B (1.20) 59% Chrysler Corp(3) 52% Chrysler pf A(8) 111 City Stores (B). T Cluett Peab (5).. Cluet Pea pf (7) 120 Coca-Cola (5)... 117'5 Collins & Atk(4) 111% Col Fuel & Iron. 8% Col Gas & El (5) 93% Col G&E pf A(6) 106 Com Cred (1)... 17 Com Cred pf 6% 79% Com Solv B (8). 358 Com Powr (21) 53 Conde Nast (2).. Congoleum N... Cong Clgar (4).. Con Cigars (7). Consol Distribut Consol Gas (5).. 1 Cons Gas pf (5). 98% ConRRCuba pf 8 6815 Consol Textile.. % Cont Bakg A(4). 441 Cont Baking B.. 5% Cont Bak pf (8). 854 Cont Can (5). 7% Cont Insur (6).. 191 Cont Mot (80¢). Corn Prod (13). Coty Inc (5). CrownWP1stpf? CrucibleSteel(6) Cuba Cane Sugar Cuba Cane Su pt Cuba Compy (3) Cuban Am S (1), Cuban Am pf(7). 106! Cudahy Pk (4). 4%t Cuyamel Fruit.. 36% 3 36 86% Davison Chem.. 31 31% 201 31 Del & Hud (9).. 219% 211% 210 2]0% Del L& W (17). 166 166 165 165 DRG Wst pf, 60 61% 60% 61 Detroit Ed (8).. 170 150 150 150 Devoe & R(2.40) 37% 37% 38 Devoe&R 1st(7). 105 108 103 108 Diamd Mtch(8). 123% 128% 127% 128% Dodge BrosCIA 18w 19 18 18 Dodre pf (1) 70 0% 69% 70 Dunhill Int (4). 50% 50 Dupont (1935).. 266t 270% 264 Du Pontdeb(6). 110% 110% 110% 110% 29% 8! 28% 89 133 130% 132% 115% 114% 115 100% 100% 100% 108% 108 108 6174 61% 61% 35% 35% B357% 60% 59% 60% 5d% 51 ban LTS CURS T 4% 4T ATw 675 65 664 0 119 119 117'% 115% 117% 111% 109'% 109% 8815 K% 8T 93% 93 931 106 106 106 7. 17 a7 79% 19% 79 361 35% 53'% 53 424 18% [ 84 % 106 GRY% 6815 6l 444 +HY 7% 29 w! 86) 4 534 5 4215 18 18% 65% 66 82% 83 % 105% 106 93 BT 4 10615 1064 105t 19 481 49 Mo K & T pf (6). Missouri Pacific. Missourt Pac pf. Montana Pow(5) Montgmry W(4). Moon MOtor. .ses Mother L (50e).. Motion Ple (1).. Motor Met(3.60) Motor Whi (2) Mullins Body Mullins B pf (8) Munsingwr (3).. Nash Mot (14%4) at Acme (sta). Nat Bellas Hess. NatB Hess pf(7) Nat Biscuit t534 Nat Cash R(A)3 atl Dairy (3) t Dept Stores. at D St 1st (7). Nat Distillers. . . t Distillers pt at Enam pf (7) t Lead (5) t Led pf B(6). t Pw&Lt(80c) t Surety (10). t Surety rts, tTea (4). Nevada C(1 N O Tex & M (7 Y Air Br (3) { Y Cent (8) { Y Central rts. Y Chi&StL(11) Y NH & Hart.o Y Ont & W (1). Jorf & W (8)... YorAm b10% Stk {orth Am pf(3). or Am Ed pf(7) North Pac (5).ee Nor Pac cfs(5).. | Norwalk Tire.. {011 Well Sup. 0il Well S pt. OmMNibUS. vvees Opnhm Col (4).+ Orpheum Cir (2) Otis Elevator (6) Otis Steel..ovsen Otis Stl prior(7) Owens Bot(Ct5) Pacific Coast.ses Pacific Gas (2).s Pac Oll Stubs. .. Eastman (18) Eaton Axle (2).. Etsenlohr & Bro. 13/ El AutoLt(16%4) 89's slectric Boat. .. iSlec Power & Lt dlec P&Lt pf(7) 10! Elec Retrigeratn 15 dowm-Brantgm(A) 6% 150 6 164 6% o Packard (12.90). Paige Motor. Pan-Am (6) Pran-Am B (6) Pan-Am West B Parmt-Fam (38) Park & Tilford. Park Utah(80c) Dathe xchange « 108% 108, Pac Tel & Tel (T} e Dil Oven. Hizh. Low, Closo 0 0l T P i 8N, 621 60 60 Glin 60 Gty 60 H8% 59* 114' 114" 1107 1107 % Tlin 70 1 110% 110's 8913 391 94 94 9215 92 1 4 121'% 521 587 83 8'y T4 T4 517 ik 58 86 18% 132 20% 24 0 101 101 8% 87 18% 133 20% 24 THh NEW YORK STOCK EXCHANGE ect to The Star Office. Open, Pathe Iix A (4). Patino(1.21 2-3) Peerless Motor. . Penick& Pa DixieCte3.20) Pa Dix CLP(T) . Penna R R (34) Penn-Seab Steel, Peoples prior (5) Phila Co (k1) . PhilaCos % pe( Phila& RC& 1. ehilip Morr} Phillips Pet Plerce-Arrow. .. Plerce-Ar pf(8). Plerce Oil. . Pierce Oil pf. Plerce Petrolm. Pitts Coal. PittsTerm Coal. PorRicoTobA(7) Postum (5)..... Pressed St Car. Prod & Refiners. Producers& Rt pf. Pub Serv NJ (2) Pub Serv pf (5). Pub o pf(7) Pub SE&G pf(6) Pullman ctfs(8) Punta Aleg Sug. Pure Ol (12).... Purity Bak A(3) Radlo Corp of A. RS1ICels (4). Reading (15)... Real Siik Hos(4) 40 40°n 1001 115 107% 187 | Schulte (312). Reid Ice Crm(3) Rem-Rand $1.60. Rep Ir & St1 (4). Reynolds Spngs. Rey Tobac B (5) Robt Rels & Co. . Rossia Ins (6).. RoyalD(al.33%) Safety Cable (4) St L&San F(18). St L Southwest., Savage Arms. ... 9 136% 67 100 44% T 140w 86% Seabd Alr Line. . Seab Air L pf. Sears-R (n21%).. Seneca Copper. . Shattuck F G (2) Shell Un (1.40).. Sher-Wil pf (7). Simmons (2)... Simmons pt (1) Simms Pete..... Sinclair Ofl. +eve Sinclatr pf (8)..: Sloss-Shet (6).. Skelly Oil (2)... 55 55 1T 17% 3T 8T 43 43% 89% 89% 57% 5% 10949 109% 45% 47 1854 186% % 14 6% 6% 41w 43% €0 60 49% 50% 90's 90% 99% 99% 171 101 110% 140% 4% 4 35% 60 60 27% 27% 19% 20% 67% 68% 5% 57% 23 23 667 €6% LY 9 80 4 58 58% 59 M AR 31% 3% 9% 9% 1% 1i% 114'5 116 36 36% 224 24 120% 120% 63 50% 50'% Sl 62 6l 6 34 35 43 43 42% 42% 1% 1i% 27 27 144 145% 26% 26% 99 103% 1111 36% 35% 16 16% 81% 88% 106 106% 45% 45% 83 83 " 42% 42% 13% 13 521a 52'9 33 334 49% 5244 120 120% 111% 11l 2% 2% 30% 30% 5 5 15% 15% 304 30% 2% 2% 120% 120% 1 1% 3% 324 3% 3% 517 52% 105% 105% 56 56% 105% 1057% 103% 104% 68l 681 T Tl 37 8 8 8 31% 31% 25 2544 40% 40% 102 102 48% 48% 68% 0% s 6% 36% 36% 91 91% 133 135 43% 44% 67 67% 22 22 £9'5 89l 44w a4% 57 57 89% 89% 110% 111% 109 109% 20% 21% 24 224 3% 3T% 170% 170% 11% 144 145 1456 44% 44% 36 41% B9 % 58 3 109'% 4% 134% 7 105% 45 82 824 4% 13'% 51 32% 49% 120 111% 72 1527 153% 5 3 127 128% 106 106 1054 1064 W A 5% 39% 39 1875 i87 481y 474 1274 106 106% 171 51% B84 187 4% 62'% 101'% 14 90% 2% 3T% 108! 13t 72 27% 154 10% 3% 8% 101% 90 89% 2% 6'% 105% 131 Tl 274 132% Y0 24 36 38% 13t w7 27% 21% 3216 134 10 10% 101 LTS T (S % T8N T8N 17T% 17% 38 38 38 gk 137 137 137 36% 12 b4'y ba% 20 93t B4 6% TR 131 01's J4% 64 El 35% | Yellow Truck. .. Snider Packg Co Snider Pkg pf... SPortoR Sug(n). South Calif Ed.. South Dairies A. Sou Dairles B. South Pac (6)... Southern Ry (7). South Ry pf (5). Spicer Mfg...e0s StdG&E(3%). StdG & E pf(4). Std Mill (5).... StdOIICal(t28%). Std OILNJ(11%) Std Oil NY(1.60) Sterling Pro(16) Stewart-War (6) Stromb Car (2). Studebaker (5).. Submarine Boat. Sweets of Amer. Symington. . Symington Cl1 A. Tenn Copper (1). Texas Corpn (3) Tex Gulf S t4%. Tex & Pacifle... Tex PC&O(60c). Tex Land Trstn The Falir (2.40). Third Avenue... Tidew Aso (60¢) TidW AsOIIpt(6) TideWat O(80¢). Tide W Oil pf(5) Timk Roll B(15) Tobac Prod (7) Transcont Ofl Underwood (4). Underwd pf (7). Un Bag & Paper. Union Carb (6).. Union Oil (t233) Un Pacifie (10). Un Pacific pf(4). Utd Cigar S(c2). Utd Cigar St w.1. Un Cig St pf(7). United Drug (9) UtdDrg 1st(3%) | Uta Fruit(t53). USCIP&F(10) USCIPpt (7). US Dist cfs new US Dist pfn(1).. U_S Alcohol (5). U'S Ind Al p£(7) 4% 1147 U S Leather w .. 14' 14% U S Leather A.. 4 6 3 USLeat pr pf(7) th_ 90% _507 US Realty (4).. 62064 U S Rubber..... 45% 46 U S Rub 1st (8).. % U S Smelt (3%). BiIAY U S Steel (1).... U S Steel pf (7). U S Tobacco(3). Unv P&R(12%). Utl PELL A (e2) Vanadium (3) Van Raalt 1st| Vick Chem (4).. Victor Tlk Mch. Victor cv pt (6). Victor pr pt (7). Va-Caro Chem. . Va-Car Ch 6% p! Va-Car Ch pf (7) Va Iron Coal & C vivadou (3).... Vivaudou pf (7). Vulcan Detin. .. Vule Det pt (7). Wabash....oees Wabash pf A(5). Ward C1A (8)... Ward Baking B. Ward Bak pf (7) Warner Plc A Warren Bros( WarF&Pipe Cor. Weber (4)...... W Penn K1 pf(7) West P Po (6).. West Maryland West Pacific. West Pac pf (6). West Union (8). WesthseAirB(7) Westinghse (4). White Eagle (2). White Mot (4).. White Sew M(4) White Sew Mach Wickwire etfs... Willys-Overland Wilson & Co Wison & Co pf.. Woolworth (5). Worthn Pump... Worth Pump (A) Worth Pump(B) Wright Aero (1) Wrigley (13%) Yy 514 56% 3l % 87 Market. 84, Yel Tr&Co pf(7) YungstnS&T(5). S84 Hourly Sales on N. Y. 1la.m.. 598,000 12 noon. 1pm.. 911500 2pm.. Dividend rates as given in the above 3 annual cash payments on the v or haif yearly declarations, 0 erwide noted. extra or special divie test auar Ul der Plus —no_rexul bie W ok, Sharoin stocic, fodle n Class 4 W Partly stock. v Plus $3 10 preferred stock. 4 Plus one-half of common' stock. PRICES ON PARIS BOURSE. ARIS, June 26 ().— were lar on_the Bourse today; 3 per cent rentes, 55 francs 10 centimes; e change on London, 124 fr centimes; 5 per cent loan, 7 70 centimes. The dollar was quoted at 25 francs 56’2 contimes. el sold THREE LOCAL BANK STOCKS HIT PEAKS Liherty National, Federal- American and Security Savings Climb. EDWARD €. local hank he year Washington hares of ont at 2on, w the curity at 105, the 1 havin ral it Jean re hest sold W Y ippeared harve tu (B STONE. <tocks scored new in today’s trading ar 10 shaves ‘ommercial <t sale in thi wee deri it above Five other more closed me out - 515 per 1 10 shares preferred sold 10312, Merchants Transfer & Stor- » preferred came out at 101, 30 shares of Peoples Drug Stores pre- ferred sold at 110. Two sales totaling 100 shares of National Mortzage & Investment preferred were recorded . Capital Traction remained at omace Ele cferred 1 Chevy 1d 'l Railway Capital action 58 hington lway & s at 10314, on a $10, recent lev 000 turnover. Southern’s Earnings Fall Off. Southern Rail System reports net operating income of $2,386,782 for June, against §3,135,116 for June last vear, and for the half-year, $14,235, 045, against $15,709,694 in the same period of 1926. Empire Bonds Are Called In. The Empire Gas & Tuel Corpora- and refunding convertible per cent gold bonds, due May 1, 1937, have been called for pay- ment on September 19 of the present year at 110 and accrued interest. These honds are widely held in the National Capital. J. & W. Seligman & Co. as flscal agents for the secured 7 per cent sink- ing fund gold bonds, 1927, due 1959, of Peru are notifying holders that £71,000 of these bonds have been drawn by lot for redemption on Sep- tember 1, out of the sinking fund moneys received or to be received, at 105 and interest. Insurance Stock at New Top. Stock of the Virginia Fire & Marine Insurance Co., some of which is held in this cit clling on the Rich- mond Stock Exchange at $100 per share for the first time in the history of the company. This represents a price of four times the par of the stock, which is a share. While this i% the highest price that has been paid for the stock, about two years ago cfforts were made by a Richmond hanker to gain control of the company, and at that time it was reported that s as high as $1 share had flered for the stock, but with no Warfleld Favors Interest Caution. s Warfield, president of the Air Line Railway, when ced if there would be an early settle- ment in respect to the back interest on the r cent adjustment bonds of the S d, id: “As you know, the board of directors has declared the regular rate of semi- annual interest (21, per cent) on the adjustment bonds of the company, ble August 1, 14 The next in- t period is February 1, 1928. While the board is as desirous as the holders of these bonds to begin as early as practicable the payment of back in- is recognized that in view 1 conditions it would not be m the standpoint of either of the bonds or of the rail- road to begin the vment of this in- terest until it is know that it would be cotinued regularly.’ Loans and Discounts Drop. The Federal Reserve Board's condi- tion statement of reporting mem- 3 in le: s as of July ,000,000 in the holde: n! deposits and $17,000,000 in borrowings from the Federal reserve banks. Bank Elects New Director. The divectors of the Washington Savings Bank have elected James A. Soper, cashier of the Lincoln National Bank, as a member of the board. Mr. Soper has been with the Lincoln for many years, having served a long term as assistant cashier, and is a banker of wide experience. He is vice president of Washington Chapter, Ame Tnstitute of Banking, and has just returned from attending the annual convention at Detroit. Heard in Financial District. George O. Vass, cashier and one of the presidents of the Riggs Na- tional Bank, is back at his desk after a two weeks' vacation. sident John B. Loan & Howe, curity & Tru the week end n{;m’ )l‘ making the trip by motor. ‘7il’l\cl’L'l Mcxr;'. Frank W. Stone of the National Security & Trust Co. has returncd from a motor and steam- hip trip along the Great Lakes. He traveled 1,000 miles by water and 3,200 on land, motoring all the way back from Duluth, Minn. C. Louis Bckloff, assistant cashier of the National Metropolitan Bank, with his wife and daughter Margaret, re spending a couple of weeks at irginia Beach. Tod: all Street Journal reports that v, chairman of the U. 8. Steel Corporation, has been con- fined to his home for some time. He suffercd an attack of ptomaine poisoning. According to best avail- able information, the judge is on the road to recover nd hopes to be at his office in a few days. . BALANCE IS LARGER. NEW YORK, July 26 (#).—South- ern ifornia dise reports balance of 6,960,929 for dividends and depre- ciation for tho half year, against $5,- 416,749 in the first half of 1926. Larner of the Trust Co. and cashier of the t Co., passed burg, Pa., GERMAN BONDS AND STOCKS. By Special Leased Wire to The Star, NEW YORK, July 26.— (Quoted in dollars ver willion marks) | 5.00 1050.00 5.00 RO00 Chousand marks.) . 00 Ger Gt (w 1Tn) K Herlin ds pre-w Hamb Hambu Berhiner Hande ter Bank . I Deutscha Bank.". TREASUR; vCERTI;IéATES. by J. & W, Seligman & Co.) Ofter. 100 1 (Repor Commodity News BOSTON, July 26.—The New Eng- land cotton manufacturing indusiry has a hright future despite pessimistic assertions, according to Robert Amory, one of the hest informed of the mill executiv He said today the mills cutives as never before on buy- nd merchandising. KANSAS CIT do in hor: and mules, which has been in the us Summer slump, is expected to take on new life August 1. Reports indicate there will be a brisk demand from all sections. DETROIT.—It is generally be that the time when Ford will start its assembly line on its new moc is hundred men are Production on ly is under ved us parts alr s for furs here nee’ recently. As price; MONTREAT.—Pric have shown an adv compared with ear] mink is up 10 per c cent and marten 15. have risen in price. ATLANTA. — Georgia_ watermelons have hrought more profitable returns this vear than ever before, although the output was not as 0 as in other years. The melon growers s cured hetter profits than the nt, otter Other pelts als also was short enough to avoid glut- ting the market. CHICAGO.—Production of butter i showing ues nearly 10 per cent abho ago. decline _was approximately cent. Producing conditions vorable. BUYING IS BRISKER a yes INMARKET TODAY Vegetables Meet Increased, Demand, While Meat Pur- chases Are Normal. Slightly increased buying was evi- denced during the early morning hours, retailers being out early to avold the heat later in the day and get first pick of supplies. Only a normal demand for meats was re- ported, buyers increasing their pur- chases of vegetables. ealers also reported a fairly good demand for fruits. Receipts of can- taloupes from the West are growing gradually lighter, while receipts from North Carolina are correspondingly increasing. California honeydews and honey- balls are being received in fairly large quantities and are in good de- mand, and the heavy receipts have re- sulted in a weakened condition of the market. Moderate supplies and a good de- mand_for peaches, mostly Virginia and North Carolina stock, resulted in a weakening of the market, and a similar condition of the watermelon market was reported. Prices of most commodities morning were the same as quoted yesterday. Today’s Wholesale Prices. Butter—Fresh, 1-pound prints, 43 ad4; tub, 41%a42; store packed, 29. Eggs—Fresh selected, 25a27; hen- current receipts, 24. Poultry, alive—Turkeys, hens, 2 toms, 25; fowls, 26a27; Spring chick- ens, large, 33; medium, 31a32; small, 28a30; roosters, 15a16; ducks, 15; keats, young, 65: old, 25. Dressed — Turkeys, 28a30; Speing chickens, 35240; capons, fancy, heavy, 39a40; smaller, R S keats, young, 60a70; old, 30. Meat, fresh killed — Beef, veal, 20; lambs, 20a32; fresh ham: 23a25; shoulders, 17al8; loins, 30; smoked hams, 26a27; smoked shoulders, 17a18, Live stock—Calves, choice, 12; me- dium, 10a11; thin, 7a8; Spring lambs, 13a13%. Fruit and Vegetable Review. Today’s market report on fruits and vegetables, compiled by the Market News Service Bureau of Agricultural Economics, says: Cantaloupes—Western; s u p plie light; demand good, market stead: Arizona, pink meats, jumbos, 36s and 45s, 3.25a3.50; jumbo, flats, 9s and 12: few 15s, 1.25a1.50; honey dews, 1 Cal fornia arrived, 4 broken and 5 unbrok- en cars on track; supplies liberal; de- mand moderate, market about stead: California, standard crates, 1.50a1.75; few green low as 1.25; honey ball California, standards, 45s, 2.75a8.00; jumbos, 45s, 3.00a3.50; salmon tints, pon; 458 and 54s, some soft, 1.00a 2.25; best mostly 1.75a2.25; North Caro- lina, supplies liberal; demand moder- ate, trading active, market steady; de- mand slow for small stock; market dull and weak; small stock not want- ed; Ridgeway section, salmon tints, standards, 45s, 2.50a3.00; ponys, 54 27s, 3.00a3.50; small size, slack pack, all sizes, 1.25a1.50. Lettuce—Eastern; supplies liberal; demand slow, market dull; New York and Pennsylvania, 2-dozen crates, Big Boston type, 75a90; Western, supplies moderate; demand moderate, market about steady; California, Watsonsville section, crates, Iceberg type, 5 dozen, 5.0025.50, few higher. Onions—Supplies light, sales reported to quote. Peaches—Supplies moderate; de- mand good, market stead; North Carolina, bushel baskets Elberta: best 3.50a3.75, mostly 3.50; wasty 3.00; bushel baskets Belles, mostly around 3.50, fair quality and condi- tion; few decayed, 2.25a2.50; Virginia, bushel baskets Carmans, few sales, 2.50a2.75; Belles, 3.00. Potato Market Steady. Potatoes—Supplies light; demand good, market steady; Virginia, Nor- folk section and Eastern Shore, cloth top, stave and slat barrels Cobblers, United States No. 1, 8.50. ‘Watermelons—Supplies heavy; de- mand light, market dull; bulk per 100 melons, Tom Watson’'s and Thur- mond Grays, 30a32 pound average, 50.00; 24a26 pound average, 35.00; culls, Tom Watson’s, 15.00. Peas—Supplies moderate; demand good, market steady; New York, bushel baskets Telephones, 1.75a2.00. Tomatoes—Supplies liberal; home- growns; demand slow, market dull; 1-bushel hampers, 50a75 cent: Lima Beans—Supplies moderate; demand slow, market dull; North Carolina, bushel hampers, 3.00. . BANCITALY HOLDINGS. NEW YORK, July 26 (#).—Principal holdings of Bancitality Corporation, in- vestment trust, include large blocks of stocks in 28 banks and insurance com panies of the United States, 89 Amer n railrond and industrial companies and 91 foreign banks and corpora- tions. Bond holdings are diversified among 39 American railroad and pub- lic utility companies, foreign govern- ments and municipalities. Profits from February 8 to July 22 were $8,133,370. this prices too few OIL OUTPUT HIGHER. NEW YORK, July 26 (4).—Oil pro- duction and oil exports of the Soviet ‘Union in May established a new record for the Russian oil industry, the Soviet Union Information Bureau reports. The output was 908.700 metric tons, nearly 20 per cent above the average |} monthly output for 1913. Ixports were 187,935 metric tons, nearly two and a half times the average monthly figures for 1913. | peach orchardists, although the peach ecrop| seasonal decline, hut contin- Compared with a week ago the per are fa- TACTSBIEAD | FOREICN TRADE | Radio and Phones | Cabie, Broaden U. S. Business NEW YO contact mear and ealy through hetween ven nunications by e in the last nw ha double that between {and individuats ana countries in imately handied in ph and been more Ameriean fi those of fore 200,600.000 1927, we ds Ths s | is | b messages, and 372,278 words. The messages mitted by other compani tained a total more than equal to that figurs World Leadership. Theso statis indicate question the tent to which can financiers and busine assumed world leadership. The United tiates now is the main creditor nation nf the world, and thousands of fi an- | cial transactions, indicated by tele | phic messages are now cons *d in this country inst in beyond | An; s men_have contact means more business, {not only for the telegraph and radio | | companies, but for merchants and | business men. The recent transatlantic flights gave an immediate impetus to foreign trade, as the messages not sent in code prove. In fact, the war it- | self added the first spur prick to the (business of the cable panies, be- wse the use of code was prohibited. This automatically lengthened the | average message from 8 to 22 words. When the war-time restrictions were removed the public was slow to aban- don the lengthier messages and it is only in the last year or two that the use of cable code again has become anything like = general. At present nine-tenths of the full rate urgent cables are in code, and the average message length is back again to eight words, The number of messages, how- ever, has advanced. Bankers' Acceptances Factor. A factor which has gone far to aug- ment use of the telesraph has been bankers’ acceptances. These did not be come legal until the Federal Reserve tem was organized in 1914. These acceptances are “an agreement by the acceptor to v a bill, draft, order or e like, according to its terms. In the last 12 months over a third of the total foreign business of the United | States has been financed by these “ac- ceptances,” which ar v made by telegraph. Arbitrage operations, dealings on foreign exchange where speed is a factor and “cable transfers™ have augmented financial dealings by telegraph and radio. This_increasad traffic over air and | cable lines with Latin America has | corresponded with what amounted to | a boom in commerce between the two | American continen | Operations by radio_telephone, far from cutting into the business of the | underseas cable companies, have in- creased the number of message Nearly all radio telephone business agreements have been immediately confirmed by cable since spoken tele- | phone communications do not consti- | tute a contract and are subject to later confirmation. The increase in the use of the ca- | bles has been met by increased facil- ities. Three new cables recently have been laid between America and Europe and many shorter cables have been installed.~ Of the three long lines, two > of the permalloy type, which in reality are equivalent to many old- tyle “cable lines, since they have a to 5 times greater than the In addition, the old lines have been rendered 25 to 50 per cent more efficient by use of improved terminal apparatus, such as automatic printing machine CUSTOMS RECEIPTS HEAVY. BALTIMORE, July 25 (Special).— Customs collections at_Baltimore for the fiscal year ending June 30 exceed- ed all previous records, according to | the report of Charles H. Holtzman, collector of port. The year also was a record-breaker in the volume and value of imports received at, this port. . SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) Amer. Tel & Tel. Co. 43 Amer. Thread Co. 6 acondaConpe Associated OIl G5 1921 Canad, Nor Rwy. Ches. & Ohio Rw hi.. Mil, & St. iy & Pac Ry 4% a e, 55 1S S. Cofl bs 1 & Hudson Rwy, 7s 1030 Rwy. Co. 50 Herned"cn &ci‘d 834 1840 shey Choe. Co. 5las 19 Humble, 01l 3 ‘3)’11 . Mass. Gas Co. bls 1046 New ¥ 05 1941 Qregon Short Line nited Lt & Pow. & Ritbher 7358 Smelting Co. 5 ng Stl. Cor. 5% FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) ominal Selling checks gold valu London. pound. ... Montreal, " dollar Paris. frane Brussels, { Berlin, Rome. lira. Zurich. {r 1 azen, Oslo. crown’. Stecicholm, NEW YORK, June eign exchanges ea. Great B Crow érow i 2% () quotations (in | tain, demand, 485 60-day Dills on’ bank France, demand, v, demand, ium, 40. 26 Holland, Swede Ml Poland, 11 5 Jugoslav 5 & tria, Argentina, 4 7.067,; Shang 99.89 1-16. e FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Closing.) . Approx. Rate—Maturity. ed. yiold Bs May 184i-31 % 419 Money to Loan gk i Joseph 1. Wel ler RY CLEANIN AT WOODRTFE'S i of i it Men’s Suits, 95 Main tinn.t i ! For Extimates, 11 MONEY TO LOA "fi': “l.i”.ll:?yl { ' 0000000000000200000000000 CONSULT US 000000000025 0000000000000 MOHC_V Availalvlc (0! FIRST DEED OF TRUST LOANS ) 67 Reasonable Commission Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. LOANS We will gladly receive and give prompt attention to applications for Loans on Washington Real Estate Current rates of inter- est. Should you have Money to Invest —we can also take care of you. Our expericnce, ex- tending over a period of Thirty-five Years —insures your protection. Percy H. Russell Co. 926 15th St. N.W LOANS Money to loan on Im- proved Real Estate in the National Capital. Applica- tions Confidential. Prompt Service. Inter Rates— 51, & 69 Mortgage Dept. HANNON & LUCH 1435 K Street Main 2315 Mortgage Money Loaned at Low Irterest Rates Sconomic_Conditions Tyler & Rutherford Loan_ Correspondent Mutual Benefit Life 1520 K Street ~ Main 475 REAL ESTATE LOANS 5 % FRED T. NESBIT 1010 Vermont Ave. Main 9392 6%2% FIRST DEED OF TRUST NOTES Let your money earn you a good income. Call Wm. S. Phillips & Co. Incorporated Main 4600 1516 K Street N.W Continental Trust Co.| 14th and H Streets i Capital $1,000,000.00 Checking Accounts Savings Accounts Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Cheques Acceptance Credits Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets WADE H. COOPER. President . Capital $1,000,000.00