Evening Star Newspaper, August 23, 1927, Page 11

FIN em— INTEREST REVIVES " INBOND DEALINGS Fluctuations in Prices Larger Than Ordinary—Industrials Reflect Confidence. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, August 23.—There was somewhat more life to the bond market today with fluctuations larg- er and a number of movements that seemed suggest the early an- nouncement of new issues. As in the case of the stock market the advance in bonds to a new high level for the year brings out a certain amount of profit-taking on the part of those who le their purchases when the market was in a despairing mood ea in the Sum- mer. There is aly a very heavy turnover in the foreign group with a constant shifting of ownership of dollar bonds among the investors who are seeking to improve their position both as to yield and the possibility of appreciation in market values. Improvement in Industrials. The industrial list today reflected the confidence that still is held in the general trade situation. It was among the old rather than new is- sues that the most improvement oc- curred. This was noticeable in some of the standard bonds like Ameri- can Smelting & Refining 65, Ame can Sugar 6s, Marine 6s and Illino Steel 4%s, which sold close to par for the first time this year. There was again' an active agd strong tone to the International Telephone 51zs and new 41gs, but some hesita- tion in the Humble Oll new 5s, Good- yvear 5s, International Paper 6s and Hudson Coal 5s. Dodge s and Ar- mour 5%s were heavy. Pierce A row 8s had another sinking spell. The local tractions held steady. with the Brooklyn-Manhattan Transit 6s fractionally higher in spite of the poor monthly statement of earnings. Rail List Shows Rise. A feature of the speculative rail bond list was the rise in all of the St. Paul junior issues, which altimate- 1y are to be exchanged for securities of the reorganization company. At the same time St. Paul General 4l1zs sold at the highest of the yea Mis- souri, Kansas & Texas adjustment touched 107 for the first time, Sea- board adjustment reached 85 and the jssues of several of the small inde- pendent Middle Western lines moved up on revived construction rumors. U. S. Governments went forward again after the lapse of the last few days. The Fourth Liberty 41is gained 34 and the first 434s somewhat less. In the legal rail mortgages the largest advances were in Baltimore & Ohio and Union Pacific first 4s. New Financing Indicated. 1t was among the foreign descrip- tions that indications of new financing were strongest. The Uruguay 6s were bid up a point to 9713, or considerably above previous highs for the year. Practically all of “e Japanese group, as well as Italians, Belgians, Boliv- fans, Peruvians, Chileans and the 71 and 8 per cent Czechoslovakian bonds were higher: There was some irreg- ularity in French governments, with attention centered on the 8s on ac- count of the prospect of an early re- demption of this issue, to be replaced probably by a 6 per cent bond. New Bond Issues NEW YORK, August 23 (Special). —A new Issue of $13,000,000 Colum- bus (Ohio) Railway, Power & Light Co. first and refunding mortgage 4% per cent bonds, series “A,” maturing July 1, 1957, is being offered today by a syndicate headed by the Guaran- ty Co. and Otis & Co. The bonds are priced at 93%, to vield about 4.90 per cent. The bankers reported the issue sold. An fssue of $610,000 City of Jack- sonville (Florida) five 5 per cent bonds maturing from 1929 to 1948 will be offered today at prices to yield from 4.20 to 4.30 per cent by a banking group composed of Lehman Brothers and the Atlantic National Bank of Jacksonville. Zdridge & Co. are marketing a new issue of $437,000 City of Knox- ville, Tenn., 4% gold bonds due 1929 to 1938 at. prices to yield 4.10 to 4.20 per cent. It is understood that R. M. Grant & Co. have purchased an issue of $1.250.000 City of West Palm Beach (Florida) assessment notes at 97, with an option of an additional purchase of $2,250,000. It is proposed to mnkv‘ these notes pa. ssue of | £3,500,000 refu in from 3 to interest not to e 3 at a ceed 6 per cent. CHICAGO GRAIN MARKET. CHICAGO, August 23 (A).—Wheat | developed weaker tendency following | a higher start. The principal factor a statement issued by a local| crop expert who belie that with zood weather in Canada for the next two weeks the three prairie provinces| can thresh 430,000,000 bushels of wheat. Fairly general selling re- sulted. Buying power poor. Corn trade was light and mainly local. Wheat closed weak, % to net loss; corn, % to % higher;. oats, % 10| 3, up and provisions 5 to 15 decline. Cooler weuther overnight in the Ca nadian northwest, with froet reported at several points in Canuda, was a strengthening factor in wheat during initial dealings. The extent of dam- age, howeyer, apparently was not great, as reflected in the easiness in the Winnipeg market. The Chicago market soon weakned in sympathy. Frost and rust damage reports of the past few were somewhat minimized today. Crop experts tra in the ritory previously have suffered severe telegraphed today that the outiook was brighter. One said that wheat i & very zood stand between Saskatoon and Prince Albe chewan. There is no rust ap from a short distance north to Saska toon and no bad frost until around Prince Albert. The damage is much Jess than believed several days ago, Wheat I8 reported farther advanced west of Swift Current. The harvest in many places is well under way, with prospects of a good crop WHEAT- <, Sent. Mo FEDERAL LAND BANK BONDS (Quoted by Alex. Brown & Sons. Closiag.) Aonrox Asked V0% | Int Mer Marine 61 | Inter Paper cv 6s.. | Sin Pipe Line bs. |So Por Rico Sug 18 ANCIAL/) i UNITED STATES. (Sales are In $1.000.) Sales Higt Low Lib3%s... 71015 1014 Lib1ist4%s 24 1038 1038 15 1008 1007 47 1013 ol 2 Lib4th 4%e 237 1041 104 104 US3% 43-47 50 10029 10023 100 28 US3%s... 2510520 10530 10 US4s1944. 25 10830 10830 108 30 US4%s52. 25 11330 11330 11330 FOREIGN, 8al Argentine 8s Ju 69. 15 | Argentine 6s Octs9 7 | Argentine6s A... | Argentine6s B... Australian b Austria 7s.. . Bank of Chile 8% Close. 1015 1038 1007 1013 ich Low. Closs. 99% 9% 99% 994 100 100 9% 9% 49 99% 104 104% 106 106% 05 105% 114% 114% 109 109 1034 103% 106% 105% L'y 1094 102% 100% 1% U2 924 C6% 96k 106% 106% 105% 10 Brazil 7s Brazil 8s. Canada 5s 1952.... Canada 5%s 1929.. Chile 7 1943...... 10 Chile 83 1941, Yk 106 105% 2 102 109% 10954 Chinese Gov Ry 5s. Con Pow Japan 7s Copenhagen 5 % Czecho 8s 1951. Czecho 8s 52. . Danish Munic8s A 17 Danish Munic 8s B, 1 Dutch East 1 6363, 1 El Salvador 8s 48.. Framerican T%s, 1Y 1% 105 105 107% 107 105 105% 105% 106 114% 115 1104 111 98I 984 1067 106% 101t 101% 96 96 954 954 20% 91 4 1013 101% 100% 100% 100% 100 205 21% 20% 20% 333 10274 108" 108% 108Y% £9% 100 ' 101ts 101% 1024 1024 10215 10215 1034 1034 954 954 96 96k 1017 1024 1014 Lin 101 2% 82% vin ST 105 105 104% 104% 15 115 105 105 105% 105% 90% 9l 114 114 106% 108% 1024 1024 103% 104% 100% 100% 93% 9% 105 105 1044 104% 1041 10438 1Lt 113% 984 98W 105% 105% 94u 94 s 114 1% Ya% 94% MISCELLANEOUS. Ajax Rubber8s.... 5 107 107 107 * Am Agri Chem 7342 9 102% 1025 10:% Am Cotton O11 5 4 9T% 974 9T Am Repub deb 1 93 9% Y94 AmSmit& R 1st6e 4 103 103 Am Smit& R 1109 109 Am Sugar ref 6: 23 1047 104% 104% AmT&Teltr 17 9% 99h 9% AmT&Teltr 104% 104% 104% AmT& T s bs 104' 104 104 AmT& T deb s 108% 108% 10S% Am Writing P 923, 92t 92 Anaconda 1st 6s... 104%2 104% 104% Anacondacvdb 7s. 9 108's 108w 1081 AndesCop deb 7s 43 19 107 106% 107 Armour&Co 438 39 Y% 90% 90% Armour Del 5%, 90 89 S9% Assoclated Ol 6s. 102% 102% 102% Barnsdall 6s 1940, 100% 100 100% Bell Tel Pa 68 B... 105% 105 105 Bell Tel Pa §s C. 106'% 106% 106% Beth Steel p m bi 101 100% 101 101% 101% 101% 101% 101% 101% 104 103% 104 228% 224% 225 8l sl 81% 106 106 106 98% 98% 9s% 8 8T 88 105% 105% 105% 110% 110 110% 107% 107% 1074% 1203 120% 120% 102 102 102 102 102 102 102% 102% 102% 104% 104% 104% 59% 994 H9% 100% 109% 100% 100 100 100 104% 104% 104% 104 03 104 9% 91% 94% 116% 115 115% 15 1956 105 105% 108 101 10t 101 6 101% 101% 101% 105~ 104% 105 122% 1224 122% 117 117T% L1T% Mexico 4s 04 asntd. Mexico 4s 10 asntd. 12 Mexico bs asntd.... & Netherlands 6s 54.. 33 Netherlands 6s 72. 2 Nord 6%s Nor 5 . Norway 6s 1943.... 43 Norway 68 1944. Norway 68 1952, Orlent Dev deb 6: Paris-Ly-Med 6s Paris-Ly-Med 7s Paris Orleans 7s Peru 7%: ol Poland 3 Poland 8s Porto Alegre 8 Prague TH%s. Rhinelbe Un 7s.... R10 de Jan ¥s 1946, gln deJan8s47... Swiss Confed 8s... 15 Toho Elec Pow 7s.. 5 Utd Kingm 5%s 37. Utd Steam Corp Uruguay 8s. Yokohama 6s. 18 Beth Stee! Beth Steel T T SO ConGas N ¥ 5%48.. Cuba Cane cv € Dodge 6: East Cuba Sug 7%# Empire G & F 1#%s. Goodrich 6% Goodyear 8s 1941.. Hershey 5'4s. Hoe & Co 6%5..... Humble O & R 6%s Lilinots Bell 1st ba. 1llinots Steel 4 Y 11 19 3 1 1 3 5 3 Int Paper 58 47 t 8 Inter Paper 1d 6s.. 12 Int Tel&Teles 4%3 150 IntT&Tols. 2383 Kan CP&L 68 A B2. | Kelly-Spring 8s. Lackawa S 53 50 Lacl G rer84...... Laclede G 5%s bz. Liggett & Myers 7s Lorillard (P) 7s... Loulsv G & E5852 12 103% 1034 103% Manati Sug sf7%s 3 105 105 105 Midvale Steel bs, 6 100% 100 100 Montana Pow 6s. 103 1034 108% Mor's&Colst4%s 11 6 5% 86 New kEng Tel §s... 104% 104% 104% 100% 100 100% 1090 109% 109% 110% 110% 110% 9% 98% 98% 105% 105'3 105% 108% 103 103% 6 102% 102%4 102% 106% 105% 105% 103 102% 1024 101% 100% 101% 97 97 97 106% 1067 1064 107 105% 105% 97 7 10014 100% 100% 96% Y6% Yok 3 100% 1004 100% 100% 100% 100% 93 924 93 109% 10974 Southwest Bell 58. 104% 104% Standard Ol N J 68 8 103% 103% 103% Tenn Elec Pow 6. 13 107 107 1074 Toledo Edn 1st T 108% 108% 108% United Drug 6s 107% 107% 10T U S Rub Istrf 9% (3% 91w U S Rub 7%s 6 105% 105 105% U S Steel af b8, 109% 109% 109% Utah Pow & Lt & 2 1005 100% 100% Vertlentes Sug 7 100'% 100'% 100% w 103% 103% 103' 103% 103% 10249 102% 104% 104% 104% Nor States Pow Pac Gas & £l 5: Pan-Amer Pete 6 Phila Co5%s38... Phila & RAC & 1 b Pierce-Arrow 8s Punta Alegre 7s... P Serv Gas 5%s 5! Remington Arms 6: Stnelair Oll 6s. Sinelair O1l 8% Sinclair U1l 7s. . Sin Crude O11 63. Westinghou: Willys-Ov 8% Youngstn S&T 6: RAILROAD. Atchison adj 4s.... 1 BU% At&S Fovt 4s05-58 7 91 96% | 9% Atlantio C L 1st Atlan C L 4%s 6. Atl & Dan 24 48 et 97 $7 190 100 2% 12% 95 95% Y% 99 99 M 104 104% 104 104 103'% 103 1034 112 111 112 104% 104% 104% 87 81 81 2% 72 72 97 9T Brdwy & Tth Av bs Bklyn Manhat 6 Buft R& Pitt 4 e 108% | THE EVEN [ o BONDS o] Recelved by Private Wirs Direct te The Star Office Sales. Hixh. Low. Close. Canada South 5s.. + 10 107% 107% 107% Can Nat 4%s 30... 27 100% 100% 100% Canad North 8% Canad North 7 Can Pac ¢%3546... Car Clinch&O 6s 53 18t 68 90. 3 107 1 3 38 2 1 1 CB&Q4%sTTB.., Ch1 B&Q1strf5s. 3 Chi& E1llgnésb1 16 CM&StPgndls. 12 CM&StPresats, 14 CM&SPrf4lsset 12 CM &St Pcv 6s, 26 CM&SPovbscfsls 7 CM&StP6s. - 20 Cht & NW gn 3% 2 Chi NW 4%s 2037,. 20 Chi & NW 7. 1 Chi Rys 6s. o ik ChiRI&Pgnds.. 1 ChiR1& Pre4s,, 06 Chi T H 1no 68 60. . Chi Union Sta 6%s. CCC& St L 4%s... CCC&StLbs..... 15 CCC&StLrfésA. 85 C&S 1st4s29. Colo & Sou 4%s. Cuba R R b CubaRR 7% Cuba Nor 5338 ct. 4 Del & Hud 1strf4s 5 Del & Hud ov 68 35 58 a Erte conv 4 D. Eriecvt 6s 67 wi Erie conv ext 7s... Erie Genessee R 63 Great North 5%s.. Gr Norgen7s..... 31 GreenB& WdbB, 5 Hud & Manrefbs.. 5 Hud & Man aj 6 110 il Cent 4% | IIC-CStLJjte%s, 12 int Rapid Tran 6s. 17 Int Rap Tr 6s stpd. 36 Int Rap Tran 7 13 Int & G Nor 1st6s. 6 Int & G Nor ad 6s. . Int RysC A 68 732.. Int Rys C Am 6s 41 Int Ry C A 6%sret Kansas City 8 3s.. Lake Shore 48 31 Long Is rf ¢s 4! Market St 7: M St P& SSM en MStP&SSMbs38grd MStP &SSM 6%s MK & T ad)bs.. MK&ToprinbsA. Ao Pacific gen 4s. Mo Pac 55 A 65 Mo Pac 5s F 77.. Mont Trm ref & New Or Term 4 NOTex&M6sB.. N Y Centdeb 4s.... NYCrfim4l%s13 w B - - CrExCanxw & New Hav deb 4s 56 New Hav deb 7 New Havencd N Hav&H clt 6s 40, N Y State Ry 4% NYW&Bos 4 Nor Pac 35 2047... Northern Pac 4 Northern Pacr 1 - ~ohermeRRl waRBusuan Pennsy| gold 7s. Peo & E 1st 4s 40 Peoria & B Inc 4s, See RIArk& L 4% St L IM&SB 4s 29. StL 1 M&S gn 6831 St L IM&S R&G 48 StL&SFpI4sSA.. StL&SF prinbs. StL&SF6%sD, StL &S Fad)6 StL&SFinc6s... StL&SFplésC.. StLS W 1st4s.... St L S W con 4s 32. 9 2 San A & Arn P Seaboard A L Seab A L ref 4s.. Seab A L con SBAII Fla 6s35A... 73 SB All Fla 65 36B.. 2 Sou Pac 4s 29 5 Sou Pacific ol Southern Ry 6%8.. rm AssoS L 4s.. XATK I'S 6% 58 60. 14 Texas & Pacific 1st 12 Tex & Pacbs 77rts 1 Third Avref 4860. ¢ Third Ave 18t 6837 § Tol Tr L&P 6%830 11 Union Pac 1st ¢s. 1 Un Pac 4%s 67 Union Pac ov virginia Ry 1st vaRy&Pés.. Wabash 6876 B.... Wabash 6%8 76... West Maryland 4 West Md 5%s8 77, 1 12 3 86% 994 103% 99 99% 65 63% 107% 90% 72 67 66% 68% 67 [ 10418 821y 1004 108 8% 164 1 118% L18% L18% 8 114% 114% 114% 86% 86'% 29 994 1 107% 10 Y9 4 100% 100% 100% 995 99 65 65 634 63'% 3 100% 100% 100% 107% 1074% 90ts 90% 72 3% 669 67 8% B6% 66% 66's 66 66 9T 9TH A8 63 68 684 €64 6N 66% B6% 101 104 8215 B2l 100%; 100% 106 105 82% B2 o Y5 V9% 94'n 04 9 94% " 7% 117% 164 1034 96Y 9i% 97 110 98 46 140 115% 28% 100% 92 101 98% e % 98'a 107% .12 100% 851 89% 99% 99% 104% 101% 108 103 9915 97% X 110 9 95% 138 140 105% 1 5 110 97w " 106% 106% 114% 114 98k Y3l 107 107 114 114% 106 106 11 11 114% 115% 284 28 100% 100% 9ln 9l% 100% 101 98h 98% % % % 1% 98% Y84 1074 107% 46 96 80% 82 Yd's 94% y 1 5% 1% 100% 100% 99% 99% 98k 91% 102 106% 106% 105 105 n 1 99% 100 B8% E8% 96% 9Th 100% 100 106% 1074 104% 104% ke 73 100% 100% 99% 99% 9% 9% 89% 8% 100% 100% 9% 9TH 1017 102% 10844 1084 107% 107% 106% 106% 106 106% 103% 108% 83w 83% 74 T4 1% 112% 104% 104% 55% b65% 83% 83% 69 69 5% 95% 115 115 99% 99% Yo% 90's 102 102% 1 1 104% 104% 12 12 108% 106% 110% 110% 100% 100% B6Mm BAw 96K 6% 9% 99% 101% 101% Y4k 94k 88 884 101% 10L% 103 103% 10145 101% 8%, 98l 101% 101% 89 8) ¥7 97 Y5 95 107% 107w 1% 92% 8% 83% % 2% ¥dm 85 9T Y% 96% 96% 96 6% 994 99 92 92% Y6% 96% 101% 101% B8% 89 109 109 123 123 90% 90% 105% 105% L07% 107% 100% 100% 69% 69 99 99 100% 101% 97 97% 5 5% 98t 8% 101% 101% 7% 107% 101 101 101% 101% 104% 104 B4k Bdn 100% 100% FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal S luie. 4.8 Brussels. Berlin, Rome Athens. Madr Gl et e Stockholm. crown NEW YORK, Aug! eign e Britain, st 23 demand, elling checks today. 13-16 (#).—For- | changes steady. Quotations (in 485%; cables, 486%; 60-day bills on banks, 481%. France, demand, 3.91 13-16; cables, 3.92 1-16. Italy, demand, b.44%; cables, 5.44%. Demand—Belgium, 13.91; Germany, 28.79%; Holland, 40.043%; Norway, Sweden, 26.82; Denmark, 26.77; Switzerland, Greece, 1.301%; slovakia, 2.9 19.27%; Spain, Poland, 11.2 Jugoslavia, 1.76; Aus- 16.88; cho- tria, 14.09; Rumanla, .61%; Argentina, 42.60; Brazil, Shanghal, 60 o 11.81%; Toklo, 47.37%; ; Montreal, 100.01 9-16. Managers of the New York Cotton Iixchange have refused a petition by members_to make Satuday, Septem- ber 3, a_holiday for a th ce-day reces 2% fl'(h 9844 98% over Labor day. CURB AGGRESSIVE FOR RISE IN PRIGES No Attempt at Cut-Down Even at Prevailing Higher Quotations. BY WILLIAM F. HEFFERNAN. Spectal Dispatch to The Star. NEW YORK, August 13.—Opera- tions for the rise were carried on ag- gressively on the Curb Exchange to- day. Even at the high prices no at. tempt was made to offer prices down. One of the outstanding points of strength was Johns-Manville. Since reorganization of the company earn- ings have improved substantially and there was every reason to believe that the shares would not long remain in the category of $3 dividend payers. Much of the buying was said to be for the account of powerful banking in- terests associated with the company. Around 105 the price compared with the Monday final of 101%. Pillsbury Mills new was another strong spot, responding to the highly favorable report of its subsidiary for the vear ended June 30. Other strong specialties were Gobel common and Federated Metals, at new tops, and Brillo Manufacturing. The wide fluctuations in Metropol- itan , Five-to-Fifty-Cent Stores attract- ed considerable attention. The price left off Monday at 19, where it was up more than 2 points. It opened today then sold at 1614 and subse- + | quently rallied to 20. Evidently orders in the market were limited and left the stock vulnerable to operations on both sides. Empire Gas & Fuel preferred es- lished a new top on a heavy turn- over. Northern Ohio Power came to the front among the low-priced util- ities, and the demand for Electric Power & Light issues continued un- abated. The oils fluctuated erratically over a narrow range. Because of the con- flicting developments in the trade news, including a cut in Pennsylvania crude oil and a decrease in domestic output, the disposition was to do little on either side of the oil share market. Washington Stock Exchange SALES, Wash._Gas 68 B—$1.000 . 320 R T e Barber & Ross 6% 5—$4,000 nt 05%. Capital ‘Traction Co.—2 at 104, {'U:l‘llllll‘ il 1d. g;——b lt“'l)f‘l% Potomac B35 e—3 a Washingts 8 Light—b at 76%. " Barber"and Ross Tomts at %, 28 AFTER CALL. . & P. Tel. Bs of Va.—$100 at 101%. ‘Washi \— 2 sphieton Gas 68 A—3$200 at 103%. Amer. Security & Trust Co.—10 at 443, 2 20_af i 5 02™s'at 02718t "10%: 8 2 1017%. Money—Call loans. 5 and 6 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. Amer. Tel. & Telga, 4s. Amer, Ter, % "hefea '3 A el s Hrele L.t Aniicostia & Pot. R, R. b . & Pot. xuar. 3 T Asked, ooy ccoce, SEERES R Scosces XS FRSSESE c. 8 . Alex & Mt Wash., Alex. & Mt. V. cf Wash: Balt. & Anna Washington Gas Gas s, series A . 0 as ies wy. le " Rwy. & Elec. gel MISCELLANEOUS. o Por. soim-Sock L'a bic, ‘Sv()ulgltrxn Bldfl.bfl ach. Mai Wardman Fark 1 Barver & Chestnug Amer. Tel. & apital Traction igii a n_ G 77 1 00 01 % 486" 01% Potomac Elec, D‘;GA 61 s Wash. . & o wah: Boy: & Bles o NATIONAL BANK. National Capital. Columbia, TRUST COMPAN American Security & Trust Continental -Trust.. . erchants’ Bauk. . .| National Savings & Trist Union Trust Washington Toan & Trust SAVINGS BANK. Bank of Bethewda.. East Potomac Security e United States % ‘ashington Mechanics FIRE INSURANCE. American . Corcoran Firemen's ", National Union ", TITLE INSURANC] Columbia Title. Real Estato Title. Title Tnv. Co. of Md. com.. MISCELLANEOUS, Barber & Rosg, Inc. con 7 vy Chase Dajry pfd. ommercial Nat'l Co. pd. r pfd. Federa gfmln fd. . Federal-American com. ‘ederal-American pfd anston Monotype.. Jerchants, Tran. & Siorage. | Merchants’ Tran & Stor. pfd. Mergenthaler. Llnol,\% N D S3ELER i Lo *Ex dividend. o BOSTON WOOL MARKET. BOSTON, August 23 (Special).—Fine territory wools were slower today im the Boston wool market, but medium grades, particularly French combing, received a fair call. Fleece wools were inactive and pulled wools were very dull. Fire territory was quoted at 1.10a1.12 ¢:2an basis, French combing at 1.00a1.05, half blood at 1.00a1.05, three-eighths blood at 90a92 and quar- ter blood at 80a82. Fine Ohio grade fleeces were quoted at 45a46 grease basis, half blood at 45, three-eighths Dlood at 44a45 and quarter blood at 44. :CUT IN CRUDE OIL. PITTSBURGH, August 23 (#).— Pennsylvania crude ofl in Buckeye lines was cut 10 cents a barrel, to $2.25, by purchasing agencies today. Other grades were unchanged. e RUBBER UNCHANGED. NEW YORK, August 23 (Special).— Crude rubber was unchanged up to noon today, with 35 cents a pound quoted for smoked ribbed sheets, This compares with 35% cents last month and 40% cents last year. DIVIDENDS. ; 3% lede G G STAR, WASHINGTON, D. C, TUESDAY, AUGUST 23, 1927. NEW YORK CURB MARKET | Received by Private Wire Following is the list of bonds and stocks traded In on the New York Curb Market today: Sales in INDUSTRIALS. hundreds. High. 3; Acolian 7s pf .. 1 Aero Sup Mf =30 S e N e ches & 282 DE00 ioki e e T S A R A B S S ISR B LR GO SEE R o PSSR IRE T S n 5 Bohn _Alum 1 Borden C: BRSS! o b - a3 0 G 2 D B3 20 - 1 De For & € vic. 1, Dixon Crucible. i Doehler Die C € 2 Domion St Ltd 3 Dubllier ¢ & B.. i urant Mot i 1E P E € 2nd pid 101 pid 1061 Co 74 et Ea o 2y i 173 indation F A e Sylphon ¢ Houston Cor % Grand Stores” 7 G A&P. T C 18 Habir El n vte.. Hellman~ R. . 18 Hellman R pfd feyden Chem FES & 1 Kawneer & C: @ Kinnear Str_. 3 Kruska WFRFE S sz wm Dinnh o8 EESSIEEEERS Mase Lt 8 Mavls "corn, - 30 Mavis Boutling... Damen i mn D STttt PG&E Pac St Boiler Palmolive Co Par_Davis C Penn_0 147 Pillsh FI M n.. illsh FI M n pf 1 1 : 7 Proct 30 R 1Reo Mot . % Richman Bros. Singer Mfe Ltd. Sou Cit Util nfd. 5 Po A o8 ti:; 2 Syrac Wash M B i Tampa El 0. GTex P & T 2 Todd 20 ion, - (S S S S S SIS S Gypsum P& L vte'B il Sh optl way amer Bros Pic s5294555 FEEE 19 St T ICRIPEIN e 5 West_ Pow pf.. vh S M deb rts 1 Wolver Port C C % Youn Sh & T ales in MINING STOCKS. undreds. 2 Anglo_ Chil € N 10 Ariz Globe 3 Beaver Cons. 1 Bunker Hill 1Cons Cop Mines! 2 30 Cons Nev Utah.. 5 rSozminsin wossoninile omom: D LT DL ID W Do TS T e e 20 D b D e S L9 S e, SRR 13 > S @i &R o e 0 2 (S AR e e D 5 F 1 Nipissing cranda. . Butfe. ) TSR § Tono_ M. 1 Uni_Verde Ext 10 Utah ' ‘Avex 7 WrightHargreaves Sales INDEPENDENT OIL STOCKS. in hundreds, & 76 Am Con Oilflds Am, Maracal e 23 Boneisk s FEER e 1010 aton B+ S A e e ies ~ STANDARD OIL ISSUES. i 3 A 2 oo 1 2600 cff{hfi!fifi &y 30 500 Humble Ol & R 01 W3 L 163 mp. 0 of "Cin ' 49 : R Sales 2 Direct to The Star Office 1295 Sales in thousands. Ala 101% 08 e 1 owi 044 nwi 508 RO 100 % W Lar_ 68 UG'E be 52 RP&L %8 A Wi e ... 0 1iFla P & L 5 Gair. Robi 5. " 1 Gatineau Pow 58 97% 10 Gatineau Pow 63 100% 9 Gu s Gulf St Ut 58 A ¢ % Ind Oil & Gas 68 201Ind P & L. 68 A. 11 Interst "Pow bs 5 Interst Pow (s Tinv B & Sh bs Investors Koppers G & C Lehigh Po s A Lorillard 5las... 10 M “Gan 3305 Midwe Gas 78 A 39 Mont_Pow 5 Mo W 9715 104 o 0814 100 100% i oo rrag Co 6s. A-1007% IQNat D Pro ( 00 GNALP g I LA Al Al 1 dhio Riv E 5 P Oh E 08 A w 5 Pe P&L, 55 D Vet 518 e Tob B8 o Ed bs B Y 48 ) 2 Pu Ol Co 6158 'A 1055 20 Pu 0il Co 5 1 3 Pu_Se E&G Bs N 10- B G&E 538 A 10 em Ran 5128 A 997 Servel Del Gs... 2 S By m Da_6s. 20 Southe P & L 6810215 102 980 N Y 6ibs. 1017 5 Sun Maid R 648 977 S O P Y i 1004 115%" 76 1063 100 . 1005 % 1008 1014 941, i 041 97" 101 100 96 1% 7 1013 041, K FOREIGN thousande, 3 Adriatic Elec BAz M Bk 78 1Ag £l CE 615 1 Brisbane 53 5 2 Bue Aires 78 3 Bue Alres 7s © Bue Alres 7s ‘57 05 10 Bue Aires 78 '58 i 7 Copenhagen 3 Danzig Port Danish C er_Con Mun 00 2In M Bk Fin 75101 3 lsarco Hy E 7s. 03% 26 Jugosl S M B 78, 87 1 Meridion E 73 A 3% 20 Montevideo 68 A. ¥ or B Bogota 78 5 Mor Bk Chile 6s. 974 Denm 6% 100 1y d 6s B.108i{ 1 06 6 Rio nde S 78 B, BR 3 oc § TSA WW 1 Gips A.. dend. NEW YORK (#).—Stocks irregular; United States Steel touches 140, new high. Bonds, quiet; Missouri-Kansas- Texas 5s at new high. Foreign ex- changes mixed; Portuguese Escudo at year's low. Cotton, higher; bullish gin- ning statistics. Sugar, steady; firm spot market. Coffee, lower; easy Brazilian reports. CHICAGO.—Wheat, easy; larger Canadian estimates. Corn, steady; pre- dictions colder weather. Cattle, irregu- lar. Hogs, easy UTILITY FINANCING ACTIVE. NEW YORK, August 23 (#).—Ap- proximately §300,000,000 of new public utility financing is overhanging the market and many additional issues are under preliminary negotiations, says the Journal of Commerce. Utility financing has been at a record rate so far this year and new loans in con- templation are so large there is little room for doubt that 1927 will consti- tute a new high record year for capi- tal flotations by the utilities. METAL MARKET. NEW YORK, August 23 (P).—Cop- per easy; electrolytic, spot and fu- tures, 18,1215, Tin quiet; spot and nearby and October, 63.62%. Tron steady and unchanged. Lead firm: spot, 6.75. Zinc dull; Fast St. Louis, spot’ and futures, 6.3026.37%. Anti- mony, spot, 11.37%. Quicksilver, 120.00. : COFFEE QUOTATIONS. NEW YORK, August 23 (P). Coftee, spot, quiet and easy; Sant No. 4, 16%. Futures barely steady; September, 12.30; December, 11.50; January, 11.40; March, 11.18; May, 10.99. NO CHANGE IN FLOUR. MINNEAPOLIS, August 23 (®).— Flour unchanged: shipments, 34,667 barrels. Bran, 27.50a27.75. Wheat, No. 1 northern, 1.40%al45%; Sep- tember, 1.40%; December, 1.48%; March, 1.45%. Corn, No. 3 yello 1.11al Oats, No. 8 white, 46lsa 48%. Flax, No. 1, 2.27a2.29. — CALL MONEY STEADY. NEW YORK, August 23 ().—Call money steady; all loans, 313; closing bid, 8%. Time loans steady; mixed collateral, 60-90 days, ad; 46 months, 4%ad4%; prime mercantil paper, 3%ad. TREASURY CERITFICATES. (Revorted by J. & W. Seligman & Co.) guu—lnnnu. s 34s Mar. Mar. 15. Mar, 15, 1 3 5. 3 5. 3 932 FINANCIAL.® SLIGHT DECLINE IN COTTON PRICES 9 to 19 Points Drop Develops in Market—Some Cover- ing and Rebuying. NEW YORK, August 23 (#).—The cotton market opened easy today at a decline of 8 to 19 points under a renewal of realizing or liquidation Ly recent buyers apd local or Southern selling, influenced by relatively easy Liverpool cables. December contracts sold off to 20.85 and March to 21.05 in early trading, net declines of 20 to 25 points on ac- tive months and reactions of 30 to 40 points from the high prices yesterday morning. There was some covering or rebuying at these figures, but the market was within 2 or 3 points of the lowest at the end of the first hour. There was still some uncertainty as to the tropical storm reported yester- day, but the disturbance seemed too far away from the belt to have any particular effect on the market. ‘The report of the Census Bureau showing 457,031 bales of cotton gin- ned prior to August 16, compared with 182,256 for the same date last year and 579,291 two years ago, was evi- dently below the expectations of re- cent sellers. Its, publication was fol- lowed by active covering or rebuying, which sent prices into new high ground for the season, December sell- ing up to 21.35, or fully 50 points above the low level of the morning and 28 points above yesterday's quotation. The advance attracted considerable realizing by old longs and the market at midday showed reactions of 15 or 20 points from the best. Janua s March New Orleans cotton futures closed fir a net advance of 3% to 44 points. 1.03 bid: LIVERPOOL, August 23 (#).—Cot- ton, spot, fair demand; prices easier. American strict good middling, 11.98; good middling, 11.63; strict middling, 11.28; middling, 10.98; strict low mid- dling, 10.58; low middling, 10.23; strict good ordinary, 9.88; good ordinary, 9.43. Sales, 6,000 bales, including 4.000 American. Receipts, 8,000 bales; American, 1,600. Futures closed barely steady—October, 18.78; Decem- ber, 10.87; January, 10.90. March, 10.94; May, 10.9 uly, 10.89. PARIS BOURSE STEADY. PARIS, August 23 (#).—Prices were steady on the Bourse today. Three per cent rentes, 58 francs 15 centimes. Exchange on London, 124 francs 2 centimes. Five per cent loan, 76 5 1% —— COTTON GINNING GMNS.‘: 1927 Crop Prior to August 16 Totals 457,031 Balk By the Associated Press. Cotton of this year's crop ginned prior to August 16 totaled 457,031 running bales, counting 10,933 round bales as half bales, compared with 182 bales, including 1,285 round bales, to that date last ear, and 5 bales, including 9,334 round bales, to August 16, 1925, the Census Bureau announced today. Ginnings by States: Alabama, 11,31 1,134; Georgla, 39,448; Louls 7; Mississippi, 1,604; Texas all other States, 424. $1,640,000 BOND SALE. Bids Due Today for Maryland General Construction Issue. BALTIMORE, August 23 (Special) —Bids will be opened today by the State board of public works for $1.- 640,000 Maryland general construc- tion 433 per cent bonds, due from 1930 to 1940. This well ba the largest single State or municipal award scheduled this week, and the outcome of the offer- ing is awarded with more than or- dinary interest in investment circles. The total of fiotations by States and municipalities this week is only $8, 601,244, against $12,860,740 last week, and $30,144,679 the previous week. The reduction in new offerings is enabling dealers to reduce amounts on hand. INSURE AGAINST RIOTS. Bay State Policies Total $300,- 000,000, Due to Sacco Agitation. BOSTON, August (Special).— Over $300,000,000 of civil commotion, riot and explosion insurance has been written in Massachusetts since the agitation over the Sacco-Vanzetti case became acute. One Boston department store is said to have placed $25,000,000 worth, $5,000,000 IN IMPROVEMENT. YOUNGSTOWN, Ohio, August I3 (Special).—Pennsylvania-Ohio Power & Light Co. expects to spend $5,000,000 this year in improvements and exten- sion of its power and light facilities in this district. The company is work- ing on a new transforming station which will have a capacity of 15,000 kva. or about 20,000 horsepower, and will be increased to about 37,000 kva. in next two years. 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