Evening Star Newspaper, August 8, 1927, Page 14

4 ¥ TREND DOWNWARD INSTOCK MARKET Steady and Persistent Pres- sure Against the “Pivotal” Shares. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, August S8.—Steady and persistent pressure was exerted against the stock market directly from the start of business today. For a time the efforts, evidently those of professional speculators, had .a con- siderable measure of success. The so- called pivotal stocks came down, not sharply but readily enough. General Motors, United States Steel, Allied Chemical, Timken Roller = Bearinz and Atlaptic Refining. to mention only a few, all sold off. The decline was not uniform, how- ever. The independent stecls resisted under the leadership of Bethlehem, which finally developed independent strength and sold up to the highest since 192 Crucible rallied with Bethlehem d the decline in United States Steel was checked. Llsewhere in the market the tone was he notably in the motors and rails. No Excuse in News. For the early selling there was no excuse in the news. Money renewed at 3% per cent and was in abun supply. The weakness, such as it was, seemed to be due to the fleeing of uncertainty bred of political specula- tion and to the revelation the market | itself had over last week that it was not invulnerable. The decline in Gen eral Motors brought that stock back practically to the low of the opening following the Coolidge announcement. Chrysler, for a time, was strong, but sold off later on with the rest of the list. Hudson lost groand with General Motors, and Timken Roller Bearing, which sometimes moved with the mo- tors and sometimes with the equip- ments, broke nearly five points. The rails proved almost as suscept- ible to offerings as the industrials. Southern Pacific, New York Central, Atlantic Coast Line, Northern Pacific and Chicago & Northwestern all show- ed the effect. Texas Pacific was down at one time mearly two points and Delaware & Hudson more than two. The poor showing made by the June " earnings statements in comparison with the same month a year ago could hardly been the reason for the ‘weakness, inasmuch as those facts were as well known last week as today. Bulls Abandon 0il. Efforts to bid up the oils were aban-| doned. All the leading issues, in- cluding Atlantic Refining, which had been the leader on the upward move- ment, weakened today. It was more than ever plain that the only founda- tion for the advance in this part of the list had been short covering. Trade sentiment was as pessimistic as_ever. In connection with the strength in Bethlehem Steel the suggestion was made that dividend action onthe com- mon was scheduled for later in the year. Bethlehem earned over $4 a share in the first six months of 1927, and. assuming a continuance of reasonable prosperity in the steel trade, a dividend rate of $4 or $5 would not be out of the way. In- eidentally predictions as to the Autumn iron and steel business today were very confident. ———. FROST AND RUST NEWS GIVE WHEAT BOOST Cold Weather in Canada Leads to Higher Prices—Corn and Oats Also Gain. By the Associated Press. CHICAGO, August 8—Frost at sev- eral points in Canada led to a decided upturn in wheat values today. Worse black rust advices from his side of the Canadian border wefe an addi- tional stimulus to the buying side. Opening unchanged to 3-8c higher, wheat ran up quickly all around. Corn and oats strengthened also, corn start- ing unchanged to 58 off, but soon scoring a sharp general advance. Pro- FINANCIAL. Open. High. Low. Close. Abitibl Pow (). 105 1054 101% 101% Abrahm&sStraus 76% 76' 761 7ol Abr&Stras 1 %pf 113 113' 1134 1131 Adams Exp (6). 181% 161% 151% 161% Ahumada Lead.. 5% 5% 3% Air Reductn(16) 193 193 189 Ajax Rubber.... 84 8% U Alaska Juneau.. % 1l Albany Papr (2) 23% Albny Pap p£(7) 97 9% Allied Chem (6). 154% 103 Allis Chalm (6). 107!y 107% Amal Leather... 1243 12 Amerada (2) 50N Am Agricul Chm Am Agri Ch pf.. Am Bank N (2). Am Bk Not pf(3) Am Bosch. IJI!‘ FTE 60 o84 130 43 12% Bk 59 1o 60 5% 18% 4 Am Brown Bov. 15 Am Brown Bo pt ik AmCan (Z)..o.e o HYm Am Car&Fdy(6) 102w 102% Am Chicie (3).. 5T oiin Am Drug (80c). 13w 13'» Am Encau (2.40) 40 40 A kapress (6). Lov 150 Am & KFor Pow.. zl's -1l Am&lo Po pl7) 100 100 Am Ho P (2.40). Am lee (110), Am Ice (n) A dce pE ()., Am luternatl o0% 0% Aw Linseed.... 42 4Za Am Linseed pf.. 0 0 Am Locomot (8) 107 i Am Machiue (2) vy 9y AmMa&ky pr(7) 160 1ov Am Metals ($).. 4i% 4y Am Plano ($)... 36 96 Am Po& LU(f1) 60% by Am Kadialor(). 133 1384 Am Ry Bxp (6). 9 A Sulety2i3s) 46 Am Seatg(14). ais Am Ship & Com. 4 Am Sweltng (3) 66 » 165% Am Snuft (12 12y A SU Fdys ($) PN Am Sumatra. . oU' AmTel & Calb). Sidy Sén Aw LelaTeiy) 169 169% losiy Am Tobaccw (8). 13 4o 11 Am TobaccoB(8) 14o's 140% 1414 Am Typ Fdrs(8) 150 130 125 AmType pf (D). 111 111 a1 AmW W (mS0c) 43 4 -6 Am Whise pt(i) 10i!s 104's 10475 Am Wooten..... z1 20ty Am Woolen pt.. ozl o2k Am Writ Facus 194 Am WrPapfefs dily Am Zinc pr.., 424 Anaconda (3) 4vse Archer-Dan (3). 4t% Arch-Dan pf(7). 110 Armourbel pf(7; 34 Armourot 1I(A) un Armourof LIl (B oy Armour LIl pf(7) 62, Arnold Con&Co. ool A0 Dry Gd2Y%) “ ddly .4lp AT&S F(19%). 195 1yo Atehison L (o). 1024 1024 AUCL (18%).. 19Tn Lyily AUGUIL&E WL, o6 56 At GuIT&WL pf. 3.1y 33 Atl Refining (4). 129 129% Atlas Powder(4) u0in o0 Atlas Pow bt (6) 10z 102 Austin-Nichols ° © Baldwin L (7).. 244% 24,4 Balto& 0 (6)... 120 120 Balto & Uh pf(4) 78 8 Bangor & Ar rt; % Bang & Ar (3). Bung & Ar pf(7) 1144 11 BarusdallA(2lg) zbw 2 Bayuk Cigars... »7 Bayuk 1stp£(7). 109 Beech-Nut (13). Best& COuvaens 490 494y Bethlehem Steel 58 60% Beth Supt (7).. 115 115 Bloomingdale. d3l 38% BonAmiClA(4) 5T% 57w Briggs Mfg (3). 81, 28i Bkin-Edison (8) 1785 178% Blkn-Mn Tr (4). 54% 54 By Man T pf(6). 2% §2i Bklyn UnGas(5) 144% 1434 2 52 120 S0 Yl 120 LU vl JUTTPY 93 160 i s b9 181 ¥y 1633 129 o3 ol 33t 163 234 i uh 2ty S8ln 2431 2 1l 0y 544 ods Brown Shoe (2). 42 Brunswick B(3) 9% Buff Roch&P (4) 94 Buff&Susq pf(4) 524 Burns Bro (10). Y14 9lim Burros Add(t4). 1091y 109 Bush Term (b8) 58m 5815 Bush Ter de (7). 102% 1025 Bush Trm pf (7) 120 120 Butte Cop (50c). 4% 4% h Butte&Super(2). _uyn 3h B4 Butterick (g2) 541 83 3 63% 2% By-Products (2) Calif Packg(4) Calit Petrol(2) Calu & Hecla(2) lh Canada Dry (3).. 53% Can Pacific (10). 187 Can Pacificrts... 3y Case Threshg(6) 255 Cent Alloy (2).. 29% 29% Cent Leather pt. 75 78 Cen Ry NJ(112). 318 318 Cerro dePas(t5) 65 Certain-Teed .4) 51y 3% 255 visions were easy. With frost reports at hand from Canada and with predictions of further frost tonight in the North- west, wheat today took a lively up- ward swing and corn rose to the high- est point which December or March delivery has yet touched this season. Rumors were in circulation that as much as 10 degrees of frost had been experienced at some places in Sas- katchewan. _Meanwhile, black rust news from Minnesota and the Da- kotas appeared much more pessimis- tic than of late. A leading crop observer who is tour- ing in the Northwest wired that as a result of black rust the wheat straw in many fields of the Red River Val- ley is falling and farmers are cutting the crop prematurely. He also re- ported that kernel shrinkage is show- ing up in the South, and promises when threshing progresses further northward to disclose damage of at least 30 per cent to bread wheat and to a lesser extent in durum all through much of Minnesota and the eastern portion of both of the Dakotas, Commodity News POTTSVILLE, Pa., August 8.— Only about half the anthracite mines of this county are working and opera- tors still are anxiously awaiting the August boom. Some dealers in Penn- sylvania cities are making customers take a certain amount of bituminous with each order for anthracite. BOSTON.—The new Boston and Maine fruit and vegetable auction ter- minal now is functioning in the hands of the trade and it is expected 1,100,- 000tons of fruit and vegetables will be handled in the next year. * CLEVELAND,—A study of the Cleveland Chamber of Commerce of department stores shows millinery stocks are replaced nine times a year, while China and glassware turn o only about once a year. Women's dresses turn over 7.75 times and wom- en’s coats 7.17. ROIT.—The importance of the ¥ to the motor trade is the fact t les in ¢ as shown by official 7 10 per cent of a year ago. Hudson-Essex led all registrations in the county, with Chevrolet next and Oakland, Pontiac, Buick and Chrysler following. those of DYESTUFFS LOWER. NEW YORK, August 8 (#).—Prices on natural dyestuffs and tanning ma- terials had a declining trend during the past week. The index number of prices, as calculated by the Oil- Paint and Drug Reporter, was 170.1 (100 in August, 1914) at the end of the week, compared with 172.2 a week earlier and 1518 at the corresponding time last year. Net profits of §1.32,169 are reported by the Credit Alliance Corporation Zor the year ended June 30, 1927. Certo (12%).... Chandler br(t) 18% 131y Ches & Ohio(10) 191% 191% Ches Corpn. W% Tud Chi& Alton..... 8y Chi& Altonpf.. 14 Chi& Altptetfs 13% Chi & East 1ll... 45% Chi & Eastllipt 77y Cht Great West.. 16% Chi Gt West pt.. 36% ChiMil&StP., 151 Chi MII&SIP pf., 30% CM&St P et 15% 29! Chi & Nwn (4) 30% Chi Pne Tool (&) 130% Chi Rock 1s (5). CRI&P pt (7). Chi Yellow C(4). Childs (32.40)... Chile Cop (2%). Christie B (1.20) Chrysler Corp(3) City Stores (B). Cluett Peab (5).. Coca-Cola (5)... Collins & Alk(4) Collins & Afk(n) X Collins&A pf (7) 5 5 105 Col Fuel & Iron. 81% Col Gas & El (5) 95 Col G&E pt A(6) Col Carbon (4).. ComCrpt (1% Com Inv (3.60) Com Solv B (8). Com Powr (2% ) Conde Nast (2). Congoleum-Nair Cong Cigar (4) Con Cigars (1) Consol Distribut Consol Gas (5).. Cons Gas pf (5). ConRRCuba pf 6 Consol Textile. . Cont Bakg A(4). Cont Baking B.. Cont Bak pf (8). Cont Can (5).... Cont Insur (6).. Cont Mot (80c).. Corn Prod (13).. Coty Inc (6). Crex Carpet..... CructbleSteel(6) Cuba Compy (3) Cuban Am S (1). Cudahy Pkg (4). Davison Chem. . Del & Hud (9).. Del L& W (17). DRG Wstpf... Devoe & R(2.40) Diamd Mtch(8). Dodge Bros Cl A Dodge pf (7).... Dupont (1915) Du Pont deb(6). Duquesne of (7) Bastman (18).. 165% 168% Eaton Axle (2).. 2 27 Eisenlohr & Bro. 13% El AutoLt(16%) | Electric Boat... Elec Power & Lt Elec Refrigeratn El Stge Bat (18) Elk Horn pf.... Em-Brantgm(A) End John (5)... Engineers PubS 273 Engnrs PS pf(7) IOA'A‘ uws 5pait Bldg(7) Erie R R. 66% THE EVENING STAR, Erte Stm S(2 Eureka Va ft4% Fed Lt (h2.40).. Fed L&T pf (6). Fed MIn&S(10). Fed Mot T« f80c) ¥1d Phoenix (4). First Nat S(115) Fisk Rubber Fisk 1st pf (). Fleischmann( Foundation (5). { Fox Film A (4). | Freeport (t4%). Gabriel Sn(3%). Gardner Motos Gen Am Tnk (3) Gen Asphalt. . Gen Bakg pt (). Gen Cigars (4).. Gen Elec (15)... Genlslec sp(60c) Gen GasA (o1 ) Gen G & EI A(3) Gen Gas (B).... GenMotors(10) Gen Outdr Ad(z) Gen Ry Sig (5).. Gen Refrac (3).. Gimbel Bros.... Glidden Co Glidden pr pf(7) Gold Dust...... Goodrich Ru (4) Goodye: Gothm S H « Gotham new Granby (4), Grt North pt (fn) Gt Nor pt cfs(5) Grt Nor O(1%). Great WnSug(n) Gt West S pt «7) GreenBay&W (5) Green Canan.... Guantanamo Gulf Mo & Nor.. Hacknsk A(1%) C0i | Hanna 1st pr Hartman A (2). Hrtn B b10% stk Havana El Ry... Hollander & Son Houshld P(3%). Houston O11. Howe Sound(4). Hud Man (2%). Hudson Mo(31%) Hup Mot (1.40)., [llinols Cen (7). 1 tndep Of1 (1).. Indian Mot uv.) Indian Refg ctfs Inland St (2%).. Inspiration. ... InterboroRapTr Internat Agri. Int Bus Ma (4) Int Cement (4).. Int Com Eng (2) Int Harv (§6)... Int Mtch pf(3.20 Int Mer Marine. Int Mer Mar pf.. | int Nickel (2). .. Intl Paper (240) Int Paper pf (7). Int Ry Cent Am. Intl Silver. .... Int Tel & Tel (6) Int Tel & Tel rts Intertye (t1%). Jewel Tea. Jones Bros Tea. Jones & Lau (7). Jordan Motor... Kan City South. Kan C So pf (4). KayserJ (4).. Kelly-Spring. . Kelly Tire 6% pt Kelsey-Hayes. . Kennecott C (5). Kinney pf (8). Kraft Ch (f'1%). Kresge (1.20). Kresge SS pf(8 Kresge Dept S.. KressS H (1), Lago 0!l (3) Lee Tire & Rub. Lehtgh Val(3%) Lehn & Fink(3). Lig & Myrs(ft4) Lig&MyrsB(f4). Lima Loco (4).. Liq Carb (3.60). Loew's Inc (2) Loft..... Long Bell Loose-Wile: Louisiana Oil. La Oil pf (633).. LouisGasA (1.75) Louls & Nash(7) Ludlum Steel (2) MeCrory (1.60). McCrory B(1.60) Meintyre P (1). Mack Trucks (6) Madison Sq Gar. Magma Cop (3). Mallison & Co. Mallison pf (7)., Man El Sup (5). Man El m g (d5) Man Shirt (13). Market Street.., Market St prior. Marland Oll..... Marlin-Rck 3% Mathieson (4).. May Dept S (4). MaytagCo(t2%) ican Seab... Miami Cop (1).. AidContinent(3) Middle States. .. Midland pe(t12) Miller Rub (2)., Min St P & SSM. M St P&SSM pf. MStP&SSM 1i(4) Mo Kan & Tex.. Mo K & T pf (6). Missourt Pacific. Missour! Pac pf. Montana Pow (5) SMontgmry W(4). Mother L (500).. Motor Met(3.60) Motor Whi (2) Mullins Body. Munsingwr (3).. Nash Mot (t4%) Nat Bellas Hess Nat Bisc pf (7). t Cash R(A)3 Natl Dairy (3).. Nat Dept Stores Nat Distillers. .. Nat Enamel & S. Nat Lead (5)... Nat Pw&Lt(80c) Nat Supply (4). Nat Surety (10) N O Tex & M (7) N Y Air Br (3) y N YCent(8).. N Y Central rts. NY Chi&StL(11) NYC&StL pf(6). NY Dock pt NY NH & Hart.. NY Ont & W (1) NY Steam pf(6) NY Stm pf A (1) Niag F pt (1%). Norf & W (8)... Nor Pacefs(s). 0i1 Well Sup Omnibus. . Opnhm Col (4).. Orpheum Cir (2) Otis Elevator (6 Otis Elev pf (6). Otis Steel....... Otis Stl prior(7) Owens Bot(Ct5) Pacific Gas (2).. Pac 01l Stubs. Packard (12.90 's | Paige Motor. Pan-Am (6). Pan-Am B (6).. Pan-Am West B Panhandle...... Panhandle pf. Parmt-Fam (J8) Park & Tilford. . Park Utah(80c). Pathe Exchange Pathe Ex A (4). Patino(1.21 2-8) ETire .., P High, 633t 6L 30% 6% ally 99 Open. 63 61 20t 6% 411 99 120 150 20 201 L 1his " 36% 9 86'% 56 49% 197 2% 6'y 401 613 5T 1007 24 . 172% 140% 4% 35 59 V6% 12 1 6115 69% 66 ‘221 110% 11 9% 10% 108 ST 115% n7 69 49% a1 6% 341y 52% 39 11% 90% 267 146 247 1264 46 30% 5% 57% 5% 317% Bly 15% 31% 234 132 20% 42 6214 48% 105% bi 1034 102% 103'% 69 3 30% 25 144 5 774 36% 1063 { Nat Biscuit 15% 1321, 1381 44% 67 25 42% 29 110 2% 86 238 HGW 126 106 49% 37 97% 107 9% 35% 199 13 1204 9% 3 6% l'!)‘ Low. Close. | 62% | Peerless Motor. Penick&Kord (1) Penick& I nrfl) Penn C & Pa DixfeCt Penna R R (314) Pere Mara (18). Philla& RC& I, enilip Morris. .. Phillips Pet (3). Plerce-Arrow. .. Plerce-Arpf(8). Plerce Oil. *| plerce Petrolm. i PittaCoal. ..... Pitts Coal of. ... Pitts & W Va(6) Postum (5).. Pressed St Car. Pr Stl Car pf(7). Prod & Refiners. Producers& R pf. Pub Serv NJ (2) Pub S NJ pt(8). Pub SE&G pf (6) j Punta Aleg Sug. Pure O1l (t¥)... Purity Bak A(3) Purity Bak B(2) Purity Bak pf(7) Radio Corp of A. Radio C pt (3%) Ray Copper Reading (15). Real Silk Hos(4) Reid fee Crm ¢ Reid IceCr pf (7) Izem-Itand 11.60 . | Rem-Rd 1s1(7). | Rep Ir & Sul (4), {Repl&Spt (7). Reynolds Spngs. Rey Tobac B (5) Robt Reis & Co.. Rossia Ins (6).. Rutland pf... Safety Cable (4) St Joseph Li(13 St L&San F(18). St L Southwest. | Schulte (3%)... Seabd Alr Line.. Seab Alr L pf. .. Seagrave(el.20) Sears-R (n2lg). Shattuck F G (2) ! Shell Un (1.40).. Sher-Wil pf (7). | Shubert The (5). Simmons (2).... Simmons pf (7). Simms Pete..... Sinclair Oil..... Skelly Oil (2)... Snider Packg Co SPortoR Sug(n) South Calif Ed.. South Dairles A. | Sou Dairies B... South Pac (6)... Southern Ry (7) Spaulding pf(7). Spicer Mfg. . StdG & E(3% Std G & E pf(4). Std Mill (5)... | Std Millg pt (6). StdOilCal(t28). Std OILNJ (t1%) Std 01 NY(1.60) Sterling Pro(t6) Stewart-War (6) Studebaker (5). Submarine Boat. SunOfl (1 1).... Superior Oil. Telautogra (60c) Tenn Copper (1) Texas Corpn (3) Tex Gulf S t4%. Tex & Pacific. .. Tex PC&O(60¢c). Tex Land Trst n Thatcher Mfg. .. Thatchr pf(3.60) i The Fair (2.40). The Fair pf (7). Thompson(3.60) Tide W Ofl pf(5) Tidew Aso (60¢) TIdWASOIIpf(6) Timken R(5%1) Tobac Prod (7). Tobac Prod A (7" Transcont Ofl. ... Twin City R (4). Un Bag & Paper. Union Carb (6). Union Oil (t214) Un Pacific (10). Utd Cigar S(c2 Utd Cigar St w.i. Un Cig St pf(7). United Drug (9) Utd Fruit(15%) USCIPpf (7). U S Dist cfs new US Dist pf n(7). U S Hoffman (4) U S Alcohol (5). USLeat pr pf(7) U'S Realty (4) U-S Rubber. . U S Rub 1st (8). USSmelt (3%). U S Steel (7).... U S Steel pf (7). 74 | Unv P&R(1213). Utl P&LUA (e2) Vanadium (3). Vick Chem (4).. Vicksbg S&P(5) . Victor Tlk Mch. Victor ev pt (6). Va-Caro Chem., Va-Car Ch 6% p3 Vivadou (3). Vulean Detin Wabash........ Wabash pf A(5). Ward C1A (8)... | Ward Baking B. Warner-Quin(2) Warren Bros(4). WarF&Pipe Cor. Weber (4). Wells-Fargo. ... W Penn L1 pf(7) West Maryland. West Md 2d pf West Pactfic. . West Pac pf (6). West Union (8). WesthseAIrB(7) Westinghse (4). White Mot (4) White Rock (2). White Sew M (4) White Sew Mach Wickwire ctfs. .. Willys-Overland Wilson & Co.... Wilson Co pf A.. Woolworth (5).. Worthn Pump. .. Worth Pump(B) Wright Aero (1) Wrigley (13%). Yale&Towne(5). Yellow Truck. Yel Tr&Co pf( YungstnS&T(5) 1lam.. 1pm.. Dividend nit_ of * Partly extra able 1n stgek. common able " when stock. { Plu share in stock ried k Pavabl in_Ciass A stock, o Partly stock BOSTON, Boston wool {up to 1.08. clean b 1.08; hal 80: 4 Mun«l WASHINGTON, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. lux 0 105% 43 9815 707 104 8 1357 i 6 11tx 51 2% USCIP&F(10) 22 100 20% 1635 8 45 3914 56 8214 34 85% stock a Faid this vear—no DyTen percent “in comirion atock 2% % quarterly. e Plu n stocl 3 Plu 119% 132% Hourly Sales on N. Y. Market. 900 12 noon. Zpm i8s noted extra or special divi dends aro not included, * Ui vrading lese, than 100 ehares. 1 Plus 4% 2/80 m rezular_ra stock. Savabie d Pay- o Pavable "in cash OF 10% in stock " Plus $1 a share in special Lblus 6% in stock 23 174076 4 share auartecly mPlus 8% Plus n preferred stock a Plus one-half cf common stock August French combing staple was in best demand as the week started on the with average grades held at 1.00a1.05 and choice lots Foreign combing wools prices were market, were moving well and firmer as a result of the diminishing volume of material on hand. ritory was quoted today at 1.10a1.1 French combings, at 1.053 at 1.00a1.05; eighths, at 90a92, and quarter blood, at 2. Ohlo grade fleeces for fine de- i Plus (S| € Plus 1/50 in in_stock. WOOL QUOTATIONS. pecial).— Fine ter- three- laine were quoted at 451%ad6, grease basis: half bloods, at 45, blood, at 44, three-eighths at 44ad4l5, and quarter blcol, | \Mabel V. Rq D. C, NEW HIGH MARKS SETINTRADE HERE Four Tops for Year Reached in Dealings on Local Exchange. BY EDWARD C. STONE. r new high marks for the yvear ached on the Washington Stock Ixchange when the week's trading opened today Thirty sh National res of Federal-American |k stock sold at , one n it has been since 1. Washington Railway & preferred opened at 9: and on a fractional gain for a new top in this issue. The other two new peaks were scored by Merchants Transfer & Stor- tecn shares of the common it 130, the best price of the and five points ahove flm last tle. The preferred the m,,hv st [\n\ln‘ Ele per cent strong at 109, while the per cent stock held at 101%. Riggs tional moved at 481 and 10 shares of Mergenthaler came out at 112%. Capital Traction sold at 10614, the best n many weeks. Two bond sales were made at recent levels. * Local Banker on Disablod Ship. Vice President Edward J. McQuade of the Liberty National Bank was aboard the North German Lloyd liner Columbus, which struck something at soa which caused the loss of a pro- peller, when 1,000 miles from land. There were 2397 persons on the ship at the time. With the propeller gone, the engine raced at such terrific speed that it blew out a cylinder head and flooded the engine room with steam. Antone Weber, the fourth engineer, and four oilers faced the danger and crawled through the engine room to 1 point near the steam valve. The oilers then held the engineer by the legs while he reached down and turn- ed off the valve. For this unusual heroism, the passengers raised a purse of $850. but Weber refused to take any of it. He agreed, however, to act rustee and hold the money mntil wa ould be hought for each of the oilers. Bv using its other en- gine the ship reached New York 36 hours late, Four in National A. I. B. Limelight. Four members of Washington Chap- ter, A. 1. B., recently have jumped into the national limelight. The appoint- ment by President Williams of Mrs. Helena D. Reed of the Lincoln Na- tional Bank to membership_on the na- tional public speaking and debate com- mittee was the fourth recent assign- ment of special honors to the Capital. Miss Lois A. White of the Federal- American National was the first to draw attention when she was placed on the resolutions committee during the national convention in Detroit. Then came appointment to the na- tional women's committee of Miss of the Washington Loan & Trust Co., and hardly had this announcement been made when it was stated that T. Hunton Leith, assistant cashier of the Security Savings & Com- mercial, had been igned to the na- tional forum committee. All four selections have come to junior bankers here who have worked hard and most efficiently for the local institute chapter. and are only too glad to serve the national body. Washing- ton Chapter stands fourteenth in size among the 192 chapters in the coun- try, but far higher in special honors. Vacation Seasan Now at Height. Willian J. Flather, vice president of the Riggs National Bank, was back at sk today after a month at the ring House, South Poland, lather is one of the regulars Summer visit there for many arles D. Boyer, cashier of the Federal-American National Bank, left Washington at the end of the week to spend a three weeks’ vacation in New England. Lanier P. McLachlen, president of the McLachlen Banking Corporation and secretary of the District Bankers' Assoclation, has returned from a month’s vacation in Connecticut. He had a cottage on a lake which supplied splendid bathing and fishing and was also near a first class golf course. Harry M. Wheeler, long connected with W. B. Hibbs & Co., is passing a three weeks' vacation motoring about New England. 5 . . B. Dent, assistant cashier of the iggs Bank, is spending his annual vacation at Orkney Springs, Va. John E. Parker of G. M. P. Murphy & Co.. brokers, passed the week end with his family at Blue Ridge. Leon Tobriner, general counsel of the Federal-American National Bank, s spending a month at Mackinac Island. Local Financial District Notes. Local boardrooms were thronged again today as the week’s trading in Wall Street opened. The possibility of decidedly unsettled conditions in the near future has led observers to follow the tape very closely. Debits to individual accounts, as reported to the Federal Reserve Board by banks in leading cities for the week ending August 3, aggregated $13,732,- 000,000, or 12.1 per cent above the total of $12,249,000,000 reported for the preceding week. Doings in Insurance World. The West Virginia Fire Under- writers’ Assoclation is considering a cut in commissions from 20 per cent to 15 per cent in mixed agencies. A compilation of fire insurance pre- miums and losses in the United States for the 10-year period. 1917 to 1926, inclusive, has been made by the South- | ' ern Underwriter, publishers of the Argus Charts, showing the total pre- miums in that period to have been $5,297,676,009 and losses $2,716,869,334, a loss ratio of 51.27 per cent. Commissioner Monk of Massachu- setts has issued an order requiring all applicants for insurance agents’ li- censes after August 8 to pass i writ- ten examination as to their qualifi- cations. SUPERIOR OIL LOSS. NEW RK, August 8 (#).—Net loss of $82,745 is reported by the perior Oil Corporation for the three months ended June 30 against net loss 62 for the same period last year, while net profit of $241,637 is reported for the first half of 1927 against $375,760 for the first half of 1926. OPENS FEBTILE VALLEY. GLENDIVE, Mont., August 8 (Spe- cial).—The new 63-mile line of the Northern:Pacific will open up 1,000,000 acres of fertile, low-priced land in the Red Water Valley. The railroad owns under Government grant there 500,000 acres, which it is offering to bona fide farmers at $10 to $20 an acre on 20- year terms. RAYON CORPORATION PROFIT. NEW YORK, August 8 (#).—The report of the Industrial Rayon Corp- oration and subsidiaries for the first half of 1927 shows net profit of $269,270. RUBBER DECLINES. NEW YORK, August 8 (Special).— Crude rubber, smoked ribbed sheets, x‘whnod % at today’s noon quotation 'rms cun?ureu with 31% cents 7% & year ago. MONDAY, AUGUST 8, 1997 COTTON ADVANCES 2 CENTS A POUND Government Report Supplies Reason for Wild Session in Markets Today. By the Associated Press. NEW YORK, Augus ton market opéned stead vance of 2 points to a decline of 3 points, trading was quiet and the initial action of the market was regarded by local brokers as indicating that scattering accounts had been well evened up in preparation for the Gov- | ernment crop report. Liverpool cables But were better, " | there was selling here for foreign ac- count, which, combined with some further commission house liquidation, sent prices off to 1 for December contracts, or within 4 points of last week's low level and about 13 to 17 points below Saturday’s closing quo- tations. Generalbusiness continued quiet, however, and the market was a few points up from the lowest at the end of the first hour on covering, with traders evidently waiting for the offi- cial crop figures. There was . a little spurt of cover- ing just before trading was suspended to receive the Government report. December contracts were selling around 17.46, or about 7 points net higher. The official crop figures, mak- ing the condition 69.5 and the indi- cated crop 13,492,000 bales, was far below expectations, as recent private reports, on the average, had pointed to a crop of about 14,579,000 bales. This was reflected by an excited de- mand as soon as' the market re- opened after the publication of the figures, prices advancing to 19.22 for December, or 2 cents a pound as com- inz, and 183 points above Saturday's closing quotation. New Orieans Market. W ORLEANS, August 8§ (#).— rpool came in better than due and otton market here opened steady morning. First trades showed sains of 4 to 8 points, with October at 17.00 and December, 17.28. Ring senti- ment was bearish, however, in antici- pation of a Government forecast of 15,000,000, and prices eased down 9 to 10 points under Saturday's close. October went down to 16.84 and De- cember to 17.10. The market was hesitant while waiting for the Govern- ment report, which is due at 10 a.m. New Bond Issues NEW YORK, August 8 (Special).— The Bankers Trust Co., Guaranty Co. of New York, the Detroit Co. and Barr Bros. & Co., Inc., are offering today $1,650,000 City of Richmond, Va., 4% per cent bonds, due July 1, 1961, at .j price to yield 4.10 per cent. An issue of 45,000 shares of Keyes Fiber Co., Inc., convertible class A stock is being offered by Paine, Web- ber & Co., at $42 a share, to yield 7.14 per cent. This stock is preferred as to cumulative dividends at the rate of $3 a share. It is convertible at the op- tion of the holder into common stock, share for share, and has equal voting rights with the common stock. Lehman Bros. are expected to offer this week an issue of $2,500,000 Web- ber & Heilbroner 7 per cent cumula- tive preferred stock. PRICES ON PARIS BOURSE. PARIS, August 8 (P).—Prices were heavy on the Bourse today. Three per cent rentes, 58 francs 10 centimes; ex- change on London, 124 francs 2% cen- times; 5 per cent loan, 75 francs 60 centimes. The dollar was quoted at 25 francs 52% centimes. Washington Siock Exchange SALES. Potomac Elec. pfd. 6s—32 at ] {olomac Elec, pid. 5%s-—5 V‘ Elec, pid. 2t 07 Federal-American National Bank—10 at 32506 at BEEHD a Riggs National Bank—5 at 481. Merchants” Transfer & Storage com.—10 at 130. 5 at 130. Mergenthaler Linotype—10 at 112%. AFTER CALL. Capital Traction 5s—$500 at 1013%. Capital Traction Co.—3 at 1063 Washington Gas s A—$100 at 1027 JoMgrenants” Tanster & Storage ptd. Money-—Call loans, 5 and 6 per cent. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Asked. Amer. Tel. Amer,_Tel. Am. Tel. Andcosus & Pot. Cavital’ Tracti IS Subarom Georgetown Gas 1. Potomac Elec. 1st 253 25550 ELSRE e r MIg. Gs. Pot, Joint Stk. Lid B Southern Bldg. 6% Wash Market ‘5s 1! Wardman' Park Hotel 5% STOCKS. PUBLIC UTILITY. Amer. Tel. Te y. & Elec. co . & Elec. pfd. 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