Evening Star Newspaper, August 25, 1927, Page 14

1 e FYNRRETRIRL SHARES HIT PEAK IN STOCK MARKET Atchison and General Motors Rise to Height Never Before Equaled. BY GEORGE T. HUGHES. Epecial Dispatch to The Sta NEW YORK. August 25.—Two fea, es stood out in today’s active a l'A‘lln(\mlfs nectic stock market. One was the rise of Atchison to a height never hofore equaled, and the other was a violent upward surge in Gen- eral Motors, not only to the highest f rccord, but at 246, up over 7 points e da i on Hhe Offect on the seneral Nist of | thes two movements was The strength in_ Atchison w lating to the . but the of the shorts in General Mc | brought nervous realizing into other| industrials and gave the market a| highly irregular appearance The real fireworks in General Mo- | tors did not come until the afternoon, when the stock had an almost per- pendicular advance of some ¢ or 7 quite evident that a e was due to urgent Fever al list followed. A Jater prices hardened under the lead of the new Pullman stock, which went to a new top since dealings in it were begun. Atchison started the buyi ment in the railroad shares. It had closed at 196 on the before. It opened fractionally lower this morning, but before the first hour was over it had sold at 200. The strength brought out renewed reports about a stock div- idend, but a more likely explanation was that a new leader was needed and Atchison was requisitioned. Bullish Moves Thwarted. The July earnings statements as they have come to hand so far have not been calculated to encourage bull- ish demonstrations in the railroad stocks. Today’s batch included Lack- awanna, Missouri Pacific and the lat- 1er’s subsidiaries, Iaternational Great Northern and Gulf Coast Lines. All made unfavorable comparisons with ihe same month last year. Missouri Pacific was the only stock to make an unsatisfactory showing on the tape. The seasoned dividend payers were bigher without exception, notably New York Central, Union Pacific, Nor- folk & Western and Chesapeake & Ohio. Delaware & Hudson continued its slow but sure upward movement. The market seemed to regard July earnings as so much “water over the dam,” and to be forecasting better re- sults in the seocnd half of the year. Steel Shares Heavy. Steel stocks were heavy most of the session. The disappointing trade reviews of Wednesday were supple- mented today by predictions of a de- crease in unfilled tonnage in the next statement of the Steel Corporation. There is no denying that the seasonal recovery has been slow this vyear. Steel was fractiopally lower and so wera the stocks of the independents. It was significant, however, that there was little activity on the reac- tion. There were quite a few weak spots among the industrials. Barnsdall was heavily sold and Radio Corporation lost ground easily. The decline in the last named was connected with the announced entrance of the Mackay Cos. into the radio communication field through the purchase of the Federal Telegraph Co.’s system. Low in Copper Group. Greene Cananea was lower in the copper group and many stocks in this part of the list were unchanged or fractionally lower. The rise in General Motors to a new high above 240 brought about a similar advance in the new when issued stock. Hudson was the strong- est of the independents. Packard held its recent gain and there was a rapid rise in Stewart Warner. 'wo fea rs | g move- Markets at a Glance NEW YORK (#)—Stocks: Irregu- lar; General Motors (old) touches 246; bonds, quiet; $40.000,000 Rock Island 414s oyersubscribed. Foreign exchanges steady; Spanish and Nor- wegian rates recede. Cotton, lower, better weather; sugar, firm, higher spot market; coffee, higher, European buying. CHICAGO—Wheat easy, fine weath- er; corn, steady, better cash demand; cattle, lower; hogs, steady to strong. Wall Street Briefs NEW YORK, Avgust 5 P).— American Machine & Foundry earned $3.65 a share on the common stock in the first half of 1927, after preferred dividends, against $2.20 a share in the first half of 1926. Net profit rose to $722,335 from $431,117. Additional railroad earnings reports for July continue to show recessions from July last year. Net operating income of the Northern Pacific was £1,573,683, against $1,895,547, and the Tdlaware, Lackawanna & Western $1526,491, against $1,911,172. Net in- come of the Pere Marquette was $608 atter taxes and charges, against $645,532 a vear ago. Standard Gas & Electric earned $5.01 a share on the common stock in the Y ended June 30, against $4.49 a share the previous year. , Offline buying by Middle Western railroads has been the outstanding feature of the bituminous coal mar- kets of the country during the last week. Under this stimulus, coupled with a distinct revival of interest on the part of retail distributo Bl particularly for ery, continue to move upw Age Yeports. Bituminous output ha been creeping up since the beginning of the suspension. Wall Street is looking for a stock | dividend by Standard Oil of Indiana after stockholders tuke action Sep- tember 9 on a proposed incre 50 per cent in its stock. Details of the company’s plans to absorb all or part of the minority stock of Pan American Eastern Petroleum will not Dbe known until this meeting. Frank H. Alfred. president of the Pere Marquette, expects the road’s earnings for the second half of the year to equal those of the same period last vear. Gross earnings so far in August have been running ahead of last yeai. EXCHANGE SEAT COSTLY. Brumley Membership Sells for $224,000, Record Price. NEW YORK, August 25 (#).—The membership of Albert Brumley on the New Yo 2 he has held sinc g Roy F. Atwood of Springfield, M today for a new record price of §: 000, at an estimated profit of approxi- nately § In 1916 seat on the exchange when Mr. Brumley bought the er high figur membership w transaction, how T e m A s Exchange i Today's B o re s a nnir ’ | Am Express (6). 156 | Am Internati(2) | Am Snuft pf (6). 101 FINANCLIALY NEW YORK STOCK EXCHANGE by Private Wire Direct to The Star Office. Received Open. Bigh. Low.Close. Abitib! Pow (5). 1065 106's 104} 1044 Abr&Stras 7 %pt 1124 1124 111% 111% Adv Rumley.... 13 13% 134 13% Ahumada Lead.. 5 5 4% 4w Air Reductn(16) 187 187 184% 181% Ajax Rubber... % B T4 8 Albany Papr (2) 23 23 22 22 Allled Chem (8). 156% 137% 155' 155% Allis Chalm (6). 108 108 107's 107 Amal Leather... 14 14% 14 144 Amerada (2).... 29% 29% Am Agricul Chm 134 Am Agri Ch pt. 44 Am Bosch. Am Br Sh(31:60) Am Brown Bov. Am Brown Bo pf AmCan (2)..... 61% Am Car&Fdy(6) 104 Am Chicle (3).. 60 40% B2 104 60 166 154's 154% Am & For Pow.. 24% 244 4 = 24% Am&Fo Po pf(7) 101% 103% 101% 1034 Am Hide & L pf. 63% €37 3 €30 Am Ho P (2.40). 5w 54% American Ice... 31u 31% Am Ice pf (6) 9% 1% 51w 51% i 45 104 60 Am La Franc Am Linseed Am Linseed pf.. 3 Am Locomot (8) 1124 1 Am Machine (2) 100% 103 Am Metals (3).. 44's Am Piano (3)... 5% 25w Am Plano pf (7) 94% Am Po& Lt (1) 64% Am Radiator(5) 1344 L Am Ry Exp (6). 100 100% 1v0 100% Am Republic. 461 46% 454 46% Am Seating(t4). 45l 45'y 4bly 45l Am Smelting (8) 1707 1707 1687 169 Am S & Rpf(7). 128% 1284 128% 1284 Am Snuff (12).. 129% 133% 120% 133% 101 191 101 58% b6W 57 89!y 891y B89 601 59% 60t 361 35% 36w 169% 1685 169% 3h Lot 143% W 1423 1433 24 1101 110% 100% 103 a1y day 45l 8o Y4ty 948 w64 e 50 1334 134 58 891y 60 Am St? Fdys (3) Am Sugar (5) Am Sumatra.... Am Tel & Ca(5). 5% Am Tel & Tely) 169% Am Tobacco (8). 133 Am TobaccoB(8) 1423 143 Am Typ Fdrs(8) 131 131% 131 131 Am W W (m80c) 5 51% 51 Am WW (c1.60) 105% 105% 105~ 1065 Am Woolen. ..., Am Woolen pf.. Am Writ Pa ctfs Am Wr Pa pf cfs Am Zine . Anaconda (3)... Armourot I1l(A) Armourof 11 (B; Arnold Con&Co. Art Metl(1%).. Asso Dry G(233) 47% 477 46% 46% AssoDG2d (7). 107 107 107 107 AtT& SF(19%). 195% 200 195% 200 Atchison pf (5).. 103 103 103 AtCL (18%).. 196 196 197 AtlGuif& WI.. 37 37 81 Atl Refining (4). 122 120 122% Atlas Pow pf (6) 101% 101} 101% 1013 Baldwin L (7) 260% 255% 253 Balto & O (6). .. Bang & Ar (313) Bang & Ar pfi) 111 Barnet Leather. 571 BarnsdallA(2%) 2 Bayuk Cigars. .. 53 53 T Th 7 46ty 9 9 Y4 bl Bl 54 T8 36 8Th ola 2513 254 4610 96% 95 15% 15's Best & Co (3)... Foundatlion (5). Fox Film A (4). o 57 67 High. 570 674 Frank-S pf (7).. 113% 113% Freeport (1414). Gabriel Sn(31). Gen Am Tnk (3) jen Asphalt.... Gen Bakg nf (8). tien Clgars (4).. Gen Eleo (15)... GenkElec sp(6c) Gen GasA(o01%) Gen G & E) A(8) Gen Gas pf B(7)« GGenMotorsi 110) Gen Motors(w.1.) Gen Mot pt (7). Gen Outdr Ad Gen Outdr A (4) Gen Ry Sig (5).. Gen Refrac (3), Gimbel Bros.... Glidden Co. Gold Dust .. . Goodrich Ru (4) Goodyear Tire. . Goodyr pr pf(8), Gothm S H (214) Gotham new 214 Gotham H pf(7) Granby (4)..... Grt North pf (5) Gt Nor pf cf2(5) Grt Nor O(1%). Grt Wes S(2.80)., Gt West S pf (7) Green Canan...., Guantan pf (8).. Gulf Mo & Nor... Gu M & N pf (6) Gulf States (5). Hrtn B b10%stk Helme Geo (4). . Hocking Val(10) Hoe & CoA. . Hollander & So! Houshld P(3%). Houston Ofl.... Howe Sound(4). Hud Man (23, Hudson Mot (5). Hup Mot (1.40). 1ltnots Cen (7). Indep Of1 (1)... Indian Mot (134) Indian Mot pf(7) Indian Refining. Ingersoll-R(14). Tnland St (2%).. Inspiration. InterboroRap! Internat Agri. .. Int Agricul prior Tnt Bus Ma (4). Int Cement (4).. Int Com Eng (2) Int Harv (§6)... Tnter Har pf (7). Int Mtch pf(3.20 Int Mer Marine, Int Mer Mar pf Tnt Nickel (2)... Intl Paper (240) Int Paper of (7) Int Tel & Tel (6) Int Tel & Tel rts Intertye (+1%). Island Creek (4) Jewel Tea. .. Jones Rros Tea Jones & Lau (7) 50% 49% 50 b- 634 64 115% 116% 33 85 60% 66% 45% 45% 45% LT 2T 2T Bethlehem Steel Blumenthal pt.. Bon AmiCl A4) 60% 66'% Booth Fish 1st.. 5% Briggs Mfg (3). 27 Bkin-Edison (8) 182 182 18) 180 Blkn-Mn Tr (4). b55% 55% 554 554 Bkiyn UnGas(5) 146% 146% 146% 146% Brown Shoe (2). 44% 4d% 43% 43% Brunswick B(3) 33% 344 33% 33% Brunswick Ter.. 9% 5% 9% 9w Burns BrB (2).. 22% 22% 22% 2% Bush Term (b8) 58% £8% b8 58 Bush Ter de (7). 103% 104 103% 1v4 Bush Trm pf (7) 117% 117% 117% 117% Butte Cop (50c). 4% 4% 4l 4% Butte&Super(2) 9 9 9 9 Butterick (g2).. 537 B3% 58% 53% Byer &Co...... T3% T T6% 77 Callf Packg(4).. 63% €3% 62% 63 Calif Petm (1).. 1% 1% 21 21% CallahanZinc... 1% 1% 1% 1 Calumet & Ar(6) 71% 72% 7Tl 72% Calu & Hecla(2) 16% 16% 16% 16% Canada Dry (3). 58% 56% 36% 56 Canada Sou (3). 60 60 60 g 60 Can Pacific (10). 186% 187% 186'¢ 186% CanPacificrts... 4 4 % 4 Case Threshg(6) 262 262 260 261 Case Thrpf (7). 119 119 119 119 Cent Alloy (2).. 287 28% 28% 28% Cen Ry NJ(t12). 318 318 318 3I8 Cerro dePas(t5) 66 66 65% 65% Certain-Teed.4) 49's 49% 49% 49% Chang-Cleve 6% 6% 6% 6% Chandler pf(23%) 19:s 20% 19% 20% Ches & Oh1o(10) 1941 195% 194 194% C&O Corpn (3). T4% 4% 5% Chi & East 11l pt 78% 8% 79 Chi Great West.. 15% 15% 157 ChiGt West pf.. 34% 35% 334 33% ChiMil&StP., 17% 17% 17% Chi MII&StP pf.. 32 314 31% CM&St Pcfs. 165 18% 174 C M&StP pf cfy 42's 32% Bl% 3% Chi& Nwn (4).. 91% 92% 91's 92 Chi Rock Is (5). 110% 11l 110% 110% CR1&PDL (6). 101% 101! 101% 101% Childs (32.40) 645s F5m 63 639 ChileCop (23%). 36% 36% 36% 364 Christie B (1.20) 57 57 57 57 Chrysler Corp(3' 59% 59% 58% 59 Chrysler pf A(8) 113% 114 113' 114 City Stores (B). 50 50 49% 49% Cluett Peab (5). 67 67 66! 66% Coca-Cola (5)... 117 117 116 (16 Collins & Aik(n) ' 89 90% 8% 884 Collins&A pf (7) 103'% 103% 103 103 Col Fuel & Iron. 77% 77% 75% 176 Colo Sou 1st (4). 76 76% 76 7T6% ColGas & El (5) 957 96 95% 96 Col GEE pf A(6) 105 106 106 106 Col Carbon (4).. 3% 13 3% Com Cred (1). 18 17% 174 Com Cr pf B (2). 0% 20% 20% ComCrpf (1%). 21 21 21 21 Com Inv (3.60).. 46 46 45 Com Solv n(8).. 175% 186% 176% 1864 Com Solv B (8). 255 3674 355 367% Com Powr (234) 59% 59% 58 59% Conde Nast (2). 40% Congoleum-Nair g Cong Clgar (4).. 68% 684 67% & ConCigars (7).. 82 82 Bl% 8l Con Cigars p£(7) 106% 106% 106% 106" Consol Distribut % % 5 5 Consol Gas (5).. 1124 1127 111% Cons Gas pf (5). £9 99 ConRRCubapf6 63 63 68 Consol Textile. . 5% Cont Bakg A(4). a“ Cont Baking B 5% Cont Bak pf (8). 895 Cont ot (80¢).. Cont Can (5).... Corn Prod (13).. Coty Ine (5).... Crex Carpet. . CrucibleSteel (6) Cuba Cane Su pf Cuba Company.. Cuban Am 8 (1) 3 " 13 Cudahy PKg (4). 4% 49 48% 48 “ushman's (§4). 115% 115% 115' 115% Cushmann pt (7) 115" 116 116 116 Cushmann pf (8) 114 114 114 114 Cuyamel Frult.. 485 451 48% 48% Davison Chem.. 36 36% 3564 36% Deere&Copf(7). 115 115 115 115 Del & Hud (9).. 215 2164 214 214% Del L& W (17). 166% 169 166 168% Detroit Ed (8).. 151'a 151% 151'% 151% Devoe & R(2.40) 39% 39% 39% 394 Devoe&R 1st(7). 112 12 Dodge Bros CIA 18% 18 Dodge pf (7).... 69% 0 Dome Mines (1) 8'y 8 Dupont (t9%).. 300% 305 2935 394 Eastman (18) 169% 170 169% 169% Eaton Axle (2).. 26 26% 26w 261 Elsenlohr & Bro. 12% 124 124 121 El AutoLt(18%) 94 94% 93 | Blectric Boat... 20% 2l 20% | Elec Power & Lt 26'y 26% 25% Slec P&LLDI(T) 105 105 105 Elec Refrigeratn 11% 14% 14% El Stge Bat (16) End John (6)... 52 Engineers Pub S Epait Bldg(7). Erle RR.. Erte 1st pf. 73 13 20% 25 111% 49 68 74 55l 91 22 58 13 697 8 105 14% 0% 72 Kan City South. KavserJ (4)... Kelly-Spring. .. Kelly Tire 8% pf Kennecott C (F). Keystone T & R. KraftCh (113%). Kresge (1.20). .. Kresge SS pf(8) KressS H (1)... Lago 01l (3) Lambert Co (5). Lee Tire & Rub. Lehigh Val(3y) Tehn & Fink(3). Life Sav (1.60).. Lig & Myrs(ft4) Lig & M pf(7).. Lig&MyrsB(f4). Lima Loco (4).. Liq Carb (3.60),. Loew's Ino (2) Long Bell'A (4). Loose-Wil(2.60) Lorlllard Co. Louisiana Oil. La Oil of (6%).. LouisGasA (1.75) Louis & Nash(7) Ludlum Steel(2) McCrory (1.60). MecCrory B(1.60) McCrory pf (6). Mack Trucks (6) Mackay (7). Madison Sq Gar. xama Cop (3). Man Bl m & (45) Man Shirt (2). Market Stree! Market St prior. Marland Ofl..... Marlin-Rek 3% Martin-Pary(2). Mathleson (4). Mathieson pf (7 May Dept § (4). Maytag (2%)... MetroG pf (1.89) Mexican Seab. .. Miami Cop (1)... MidContinent(3) Middle States. .. Mid States Ol ct Midland p(+12) AMiller Rub (2) Min St P & SSM. M St P&SSM pf. MStP&SSM 11(4) Mo Kan & Tex. . Mo K & T of (6). Missour! Pacific. Missour! Pac pf. Montana Pow(5) Montgmry W(4) Moon Mator. Mother L (50¢). Motor Met (2 60) Motor Whi (2)., Mullins Body. . . Mullins B pf (8) Munsingwr (3). Murray Corpn. . Nash Mot (+43%) Nash & Chat (7) Nat Cash R(A)3 Natl Dalry (3).. Nat Dept Stores Nat Distillers. Nat Fnamel & . Nat Lead (5)... Nat Pw&T.t(80e) Nat Ry Me¥ 1st. Nat Ry Mex 2d.. at Supply (4). Nat Suretv (10). Nat Tea (4). Nevada C(1%) N Y Alr Br (3).. N Y Cent (8).... N Y Central NY C&StL (6) NY Dock....... NY NH & Hart.. NY NH&Har ris NY Ont & W (1) NY State Rys. .. NY Steam pf(6) Norf & W (8)... NorAm b10% =tk North Am pf(3). Nor Am Ed pf(7) North Pac (5)... Nor Pac efs(b Norwalk T Orpheum Cir (2) Otis Elevator (6® 0 otl ¢ | Pacific Coast. ... (4) Pac Coast 2 Pacific Gas (2).., 30% 68% 19 Erfe Stm S(2%) Kureka Ve f14% Exchange (1%). Fed Lt (h2.40). Fed L&T pf (6). Fed Min pf (7).. Fed Mot T(f80e) 19 43 100 9ite 224 19 431 42% 100 100 91 94k 94% 244 22% 25 1574 16% 15% foeg Bou, A3 Pac Ofl Stubs. .. Packard (12.90) . Paige Motor Pan-Am (6) -Am B (8 Pan-Am West Panhandle. . Parmt-Fam (§8) PSSt 1 5% 554 584 6714 13 68 128 1% 41 17 103 +39 171 1204 94 106% Cons 75's 55% 597 Low 4% 534 127% 1% 40% 17 103 2374 120 124 48% 57 4 145 60% 694 53 111% 8% T80 114 40t 1014 26% 120% fily 107147 53 102% 1025 99% 08 224 S9% 121% 55% 104 0% 111 50% 224 100 18% 133 20% 24 50t 1924 131 3% 5% 3y 664 564% 102% 143% Bl a4 65 61 26 120% 63% BR 227 70 704 20 T 0% 10% Symington. 36 11 Close. 51% i 53t _B9% 674 129% 1'% 40 117 103 245% 124 1244% A8 57' 145% 100% 98 23 10 121% 55% 104 | 72 111 50% | 2014 100 284 18% 133 20% 51% | 19214 131 7 T 40 67 56% 102% 144 5% 34 63 65 26 120% 63% 58 22% 1% Ti% Park Utah(80c). Pathe Ex A (4).. Patinoc1.21 2-3) Peerless Motor. . Penfck&Ford (1) Penlck&F pf(7). Pa DixteCt(3.20) Penna R R (314) Peoples Gas (8). Pere Mara (18). Pere Mara nf(5) Phila Co (k4)... Phila& RC&. Phil-Jones pf(7) | enilip Morris. ... Phillips Pet (3). Phoenix Hoslery. Plerce-Arrow. .. Plerce-Ar nf(3). Pierce Ofl pf.. .. Piorce Petrolm. . Pillsbury. Pillsbry pt (6 | eitts Coal. Pitts Coal pf . i PittsTerm Coal. Pitts & W Va(§) Porto Rico To B Postum (6)..... Pressed Stl Car. Pr Stl Car pt(7)., Prod & Refiners. Pub Serv NJ (2) Pub Serv pf (6). Pub SE&G pf(6) Pullman, Ine.... Pullman Co (8). Pullman ctfs(8) Punta Aleg Sug. Pure O11 (12)... Purity Bak A (3) Purity Bak B(2) Purity Bak pi(7) Radto Corp of A. Radlo C pf (3%) Reading (15) Reading 2d (2).. Real Silk Hos(4) Reid Ice Crm(3) Rem-Rand $1.60 Rem-Rd 1st(7).. Rep Ir & Stl (4). Reynolds Spngs. Rey Tobac B (5) Robt Rets & Co.. Rossia Ins (6).. Safety Cable (4) StL&SanFr 181, St L Southwest, Schulte (3%). Seabd Alr Line. Seagrave(el.20) Sears-R (n2%). Seneca Copper.. Shattuck F G (2) Shell Un (1.40).. Shubert The (5). Stmmons (2). . Simmons pf (7). 66% B3t Skelly Oil (2) Snider Packg So Porto R Sug. . South Por pf(8). South Callf Ed.. South Dafries A. Sou Dairles B South Pac (6)... Southern Ry (7) South Ry pf (5). Spicer Mfg. StaG & E(3%). Std G & E pf(4). Std Mill (5).... StdOlICal(12%). Std OILNJ(11%) Std O11 NY(1.60) Std Plate Glass. 304 TT% 36% 211% Sterling Pro(16) Stewart-War (6) Stromb Car (2). Studebaker (5).. Submarine Boat. Supertor Oll. Telautogra (60c) Tenn Copper (1) 118% 1194 | Texas Corpn (3) 133 118% 133 11 Tex Gulf S 143 Tex & Pacific. .. 63% 65% | Tex PC&O160c) . 48' 564 6% 344 50% 41w 14 9 109 100 48% 557 6% Ry 51 42 1% 9 27 145 24 8214 85 109 1024% Tex Land Trst n Thatcher Mfg. .. Thatchr pf(3.60) The Fair (2.40). Thompson:3.60) Tidew Aso (60e) Timken (15). Tobac Prod (7) Tobac Prod A ( Transcont Ofl... Underwood (4).. Un Bag & Paper. Unton Carb (6).. Unlon Ol (t2%5) Un Pacific (10). 131% 1311 | Un Pacific pf(4) 21% 21% | Utd Cigar Stores 36% 36% | UtdDrg 1st(3%) 15 15 Utd Frult(15%) 78% 734 | USCIP&F(10) 2 48% 484 | U S Distributing 504 54 U 8 Distr pf(7). 47% 47% | U S Hoffman (4) 29% 5% 6 36% 481 21% 118% 111 8% 7814 Sl 4 62% 464 106% b1% 10115 1021 2% Tw 28 49% 101% 48 22% 80 190 26 90 135% 11 an 66% 23% 10 29 113% 22% 3 1 85 241% 149 144 454 155% 514 126% 55 48Y% £ ] 12 98 189 52 521 10 9434 92% 2% 344 1214 2% 28 1794 10 7 20 274 39% 1% 211 9% 101 ®3 - £87%. popularit, ) 30 5% 56 3614 487 21% 118% 1i1% 624 16'% 106% 52 1014 10214 ” ™ 2% 28 26% 101% 484 23 81 190 26 90 135 141 444 664 231 40 29 113% 22% £ 1% 85 2444 150 15% a5 15 5% 126% 57 48 2 344 12 9% 189 5274 52% 28 129% U S Alcohol (5). US Leather wi, US Leather A.. USLeat pr pf(7) U S Realty (4) U S Rubber, U S Smelt (. . USSmpf (3%). U S Steel (7).... U S Steel pf (7). Uni Pic 1st pf(8) Uni Pipe (12%). Utl P&Lt A (e2) Vanadium (3)... Vick Chem i4).. Vietor Tlk Mch. Victor pr pf (7). Va-Caro Chem. . Va-Car Ch 6% p1 Va Ir C&C pf(5) Vivadou (3).... Vivaudou pf (7) Vulean Detin. . Vulean De pf(7) Vulean Detin(A) Wabasn Wabash p! . Waldorf (1%).. Walworth (1.20) Ward Bakinz B. Ward Bak pf (7) Warner Plc A... WarF&Pipe Cor. Web & Heil..... W Penn 1 pfe7) West P Po pf(7) West Maryland. West Md 2d of. West Pacific. West Pac pf (6). West Unlon (8). WesthseAlrB(7) Westinghse (4). Wheel & L E pf. White Mot (4).. White Rock (2). White Sew M(4) White Sew Mach Wickwine ctfs. . Willys-Overland Willys 0d pf (7) Wilson & Co. ... Wilson Co pf A.. Woolworth (5) Worthn Pump. .. Wright Aero (1) Wrigley (13%). Yellow Truck. .. Yel Tr&Co pf(7) YungstnS&T(5) 55" 32% 8% £8'y 587.100 12 noon. 1,846,600 1,456,500 2 p.m.. 1,494,500 Dividend rates as eiven In the above table are the annual cash pavments based on the latest quarterly ‘or hal lon, Unless otherwiss noted extrs or special dends ars not incjuded, " T . of tradine lese shan shares + Partly extra 3§ Pl able in “common stock aaid this vea % 1 siock d P o Payable or 10% in stock. e Plus 1/50 o AL o s 9% 103 t Plus n stocl k Pavable 1/40 of & sha Class A stocl m Plus 8% in_stock. Partly stock p Plus $3 in oreferred stock lus one-hal? of common stock in n CALL LOANS AT 3 1-2. NEW YORK, August 25 (#).—Call money, steady; all loans, 3%: closing bid, 314; time loans, easier; mixed col- lateral, 60-90 days, 3%a4; 4.6 months, prime mercantile paper, 3%a4. American slot machines are gaining n foreign countries. SECND G BOND SSE ABSORBED $40,000,000 C., R. I. & P. Transaction Stirs Interest in U. S. Plans. Another hig bond issue, the §40,000,- 000 Chicago, Rock Island & Paciflc 415 per cent, 1952, was absorbed in quick time by the market today, set ting on foot speculation in Washing- ton circles as to the apparent growing investment demand, and as to what the Government's next financing, on September 15, will be. On two successive days now, the market has absorbed in the early morning hour a $40,000,000 hond issue, the one yesterday having been floated also by a syndicate of investment bankers for the government of Aus- . The oversubscription yester- on the Australian loan was so ge that local investment houses participating were allotted less than 50 per cent on their subscriptions, it was learned today. Iy closing” of the hooks this morning on the C., R. I. & P. issue was_interpreted as indicating a still further growth in the investment de- mand. Treasury officials are known to be making a close study of the sit- uation, with a view to deciding what the September offering of the Gov- ernment will be. The Treasury will have income tax payments falling due on the same date, but of insufficient quantity to meet obligations, which include” $380,000,000 of maturities. Problem Affects Liberties. The Treasury is also faced with the problem coming lssue with other financing operations in November, when the re. maining outstanding second Liberties, both 4 and 4% per cent, have been called. On September 1, it is esti- mated the amount of Second Liberties will be $1,200,000,000. Bank stocks vied with public util-| %y ities again today in activity on the Washington Exchange, while bonds led in volume of trading. Prices were steady to stronger. Interest in bank stocks, which has been evinced to an unusual degree on the local market for the past week, was ‘shown today in trading on five institutions. District Natibnal Bank went at 242, Liberty National Bank at 228, Merchants’ Bank & Trust Co. at 1563, National Metropolitan Bank at 420 and National Bank of Washington at 305, in lots up to 10 shares. W. R. & E. in Volume. ‘Washington Railway & Electric 6s led in volume, $5,000 changing hands at 108%, Washington Gas 6s, both A and B series, were active at 103% and 1031;, respectively. Potomac Electric Construction 58 turned over at 102%. of the Richmond Federal Reserve Bank, the Federal Reserve Board has appointed as directors: John L. More- head, Charlotte; Charles A. Cannon, Concord, N. C,, and John A. Law, Spartanburg, S. C. The Richmond bank appointed Hugh Leach, its auditor, as managing direc- tor of the new branch shortly to be established, and W. H. Wood, Char- lotte; W. J. Roddy, sr., Columbia, S. C., and Robert Gage, Chester, 8. C., as directors. Mr. Leach will make his_headquarters at Charlotte. The branch, establishment of which recently was approved by the Federal Reserve Board, will be opened for busi- ness soon, the exact date to be de- termined@ by the bank. From incomplete returns the Na- tional Coal Association estimates the total output of bituminous coal in the United States during the woek ended August 20 as 9,900,000 net tons, a part as follows: The me the the new retire prior debts) successor. ot to exceed in the Railway Company. The Mortgage on about 1,276 miles of the 9 of coordinating this forth- |{ o Charl ), N. C., Bell For the new Charlotte, N. C., branch | Bell T Company reserves the: or any interest date $40,000,000 Secured due September 1, 1952, wil b'l':e Chicago, Rock l'h"g, andhl;ncifi: ‘2‘,‘“ Company and will wdhn{ secured Ppledge, un a The National City Bank The Chicago, Rock Island is, directly or through rledse road, Kansas City and important milea; New Mexico, and a second lien on about 4,541 miles of road: the Mortgage is also a first lien on the entire capital stock of, and on -year leasehold interest in the Oklahoma and Gulf Railroad Company with about 943 miles of road. The Bonds are thus secured on a total of about 6,760 miles of road. The First and Refunding Mortgage is also a first lien on slight recession from the production of the week before. According to the report of United States Bureau of Mines duction of bituminous coal the week ended Augnst 6 was § o 000 net tous and that of the week ended August 12 was 9,990,009 net tons. the Public Service Dividend. Directors of Public Service Corpo- ration of New Jer: declarel the regular quarterly diviiend of 50 cents a share on the common stoc able September 30, 1927, to st ers of record September 2. lar quarterly dividends of §: on the 8 per cent preferred s $1.75 a share on the 7 per cent pre- ferred stock also were declared, hoth vayable September 30 to stockholders of record September 2. The regular dividend of $1.50 per share was de- clared on the 6 per cent preferrcd stock. payable September 30 to stock holders of record September 2, at the rate of 50 cents monthly, J. C. Weedon, a director of the Na tional Metropolitan Bank, who has been motoring through New England, is expected to return late this week. The committee in charge of the first annual outing of officers and employes of the Commercial National Bank, to be held next Sunday at Morgantown, has completed arrangements. The committee consists of Miss Martha Cocks, John H. Fahey, Willlam Thomas and T. Blackwell Smith. Peter A. Drury, president of the Merchants’ Bank & Trust re- turned yesterday from a business trip to New York. C. J. Gockeler, vice president of the District National Bank, will re- turn from his vacation Monday. ray- ckhold- The regu- DIVIDENDS. Company. Amer Plario Co :n!‘).:: .?n'w_b.u_llaufc uto Car "¢ pt. cniwill & ©opfi CRIT & PR ¢ 3 Sept 30 Calumet & Ariz S Sept 265 -y [ SA2ER 23 %oocokoooteceoccoogoccocceceys > | -t g = - ] Do 2d p tandard Milling.'s St. Louis, San F. eofiCoces oc & Winipeg EI C pi.1 SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) Am. Tel. & Tel. Co. 43 192 American ‘Thread Co. s 1 Anaconda Copper Gs 1 Associate? Oil 6s 19 Baltimore & Ohio 6s 1 et. Cor. 41 Baavian P 446 1 ell Tel, of Ganada, i 19 S s ¥. Co. Chi:: R. I & P.Ry. Continen‘al G. & E. Cunard 8. S.'C Dela. & 3 B CORESPE Hi Rwy. 78 Erie Rwv Co. 78 1930... .. 1 Gen'l Petroleum Cor. 58 1940 Goodyear T. & R. 5s 1028. . ersh.y Choo~. C 04 Humble Cil 5%s 103 Mass. Gas Co. "5 New York Tel, Qrezon Short Line 4s 19 Pur=_ Gil Co. Gie 1933 Sinclair C. Cil P. C. 6s 10 Sou. Pac'R. R. Co_ 48 1090° Stand. Oil of N. Y. 61438 1933 Sty 01l of A mmé. Smelting C. Wheeling Steel C. Women have a highly developed sense of rumor. CAN PLANTS KEPT BUSY. American Company on 100 Per Cent Schedule in Baltimore. BALTIMORE. August’25 (Special). —The two Baltimore plants of the American Can Co. are operating on 100 per cent schedule. One of the local plants, which is not affected by seasonal changes,, has been working full time steadily. but the other did not resume in full until about two weeks ago. It is understood there has been ef- fectual cleaning up of stocks of can- ned goods, creating a new demand that will be most in evidence within the next few months. The results of new construction in progress for the past two years also are sald to be an important factor in the com- pany’s business and to be adding to its profi It is said the company is in a stronger position at present than ever before, and that its earnings are’ running in record-breaking volume. This is partly the result of the diversi. fied products of the company. CHICAGO LIVE STOCK MARKET CHICAGO, August 25 (United States Department of Agriculture).—Hogs— Receipts, 28,000 head; uneven; hogs 210 pounds down, steady to strong: Digs 5 25 lower than Wednes- day’'s average; butchers, 220 pounds and packing sows, 15 to 25 higher; most advance shown on better grades butchers. 240 to 290 pounds; top, 10.80; bulk desirable 160 to 200 pounds, 10.50a10.75; 220 to 250 pounds, 9.75a 10.49; 260 to 300 pounds, 9.15a9.85; few big weight butchers, downward to 8.75 or under; bulk packing sows, 7.90a8.25; lightweights, 8.50 or better; most pigs, 8.50a9.25, Cattle — Receipts, 11,000 head; fed steers steady; lower grades slow: she stock steady to weak; bulls weak to 25 lower; vealers, 50 lower; stockers and feeders firm; choice fed steers all weights scarce; best heavies and me- dium weight held around 14.60; best yearlings early, 14.00; most fed steers, 11.50a13.25; Western grassers in mea- ger supply; native grass cows, 7.50 downward; vealers, 14.00a14.50. Sheep—Receipts, 20,000 head; very slow: few opening sales fat lambs steady with Wednesday; native lambs, 13.50a13.75; asking up to 14.00 for choice offerings; sheep steady; fat ewes, 6.00a7.25, in limited numbers; feeding lambs unchanged: bulk, 62 to 72 pound finishers, 13.00a13.50. TREASURY CERTIFICATES. Rate—Maturity, Aies Sept. 15. 101 Biiw Sept. 1 4138 Dec. 13 1iis Mar. 1 3tgs Mar. 1 FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Closing.) Approx. Asked. yield. 103 B ate—Maturity. 5 ay 1941 5323552552555 9 o B bt s g Money Available for FIRST DEED OF TRUST LOANS 6% Reasonable Commission Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. All of these Bonds have been sold. $40,000,000 The Chicago, Rock Island and Pacific Railway Company Series A Bonds limited to $40,000,000, Interest payable March 1 and September 1. Principal and interest payable in New York Coupon Ends in denominations of $1,000 and s"s‘bo, with privilegcy:l registration as it to call these Bondsas a whole for redemption, upon sixty fter, at 10216% up to and including September 1, 1 eachsix months between the date of redemption and the date J. E. Gorman, Esq., President of The Chicago, Rock Island and Pacific Raslway Company, 4%% Gold Bonds, Series A be the direct obligation of rust Indenture to of New York, Trustee, of $45,000,000 and Pacific Railway Company First and Mortgage 4% Gold Bonds due April 1, 1934, The Trust Indenture will contain_provisions in effect as follows: (a) that neither the First and Refunding Bonds nor any Bonds prior in lien thereto will be extended; (b) that upon maturity of t and Refunding Bonds, the Com Company, in the event of consolidation) will create a new ortgage, in place of the First and Refun properties then subject thereto and wil Bonds, and any other Bonds issued under the Trust Indenture, by mortgage equally and rat be issued thereunder, and (c) that t! be at any time secured by all outstanding prior d;d:lbu. after deducting First y Company (or the successor with any Bonds which may e total amou?t of Eornds l: the new mortga; together wit] i nds reserved to not excced three times the then outstanding capital stock of the Railway Company or its Series A Bonds will be limited to $40,000,000 principal amount and no additional Bonds may be issued secured by the collateral pledged for Series A Bonds. As provided in the Trust Indenture, additional series of Bonds may be issued aggregate as to interest, maturityand redemption and such collateral, as may be determined by for a principal amount $40,000,000, with such provisions i aginst the deposit of e Directors of the the First and Refunding Bonds of first mortgage bonds, a first lien including the line from St. Louis to in Texas, Oklahoma and properties of Choctaw, divar of maturity. $200,000,000 INVESTED. Cotton Ginnigg Plants Represent That Amount of Capital. Cotton ginning plants in the Unitea States represent an investment prob ably in excess of $200,000,000, the De. partment of Agriculture estimates after a study of practices and costs of cotton gin operation. It cost cotton growers approximately $100,000,000, or about $6 a bale, for ginning and wrap- ping the 1925 crop. Ginning facili- ties are now available sufficient to gin the entire crop in 30 days. The cotton ginning business, with large gin plants, has been developed to a greater extent in the Southwest than in some other sectlons of the coun. v, the department says. Each active zinning plant turned out a yearly average of 642 bales of cotton from 1914 to 1925, inclusive, whereas each active plant in Texas averaged 963 bales. BANK OF FRANCE REPORT. PARIS, August 25 (#).—The week- ly statement of the Bank of France shows the following changes, in francs: Notes in circulation decreased 252,- 00. Treasury deposits decreased 68,690,000. General deposits in- creased 469,169,000. Bills discounted increased 250,269,000. Advances de- creased 32,662,000. Silver in hand de« creased 1,000. Sundry assets ine creased 287,547,000. Gold at home unchanged. Gold abroad unchanged. The state repald the bank 300,000,000 francs. Rate of discount 5 per cent. Mortgage Money Loaned at Low Interest Rates Feonomie_Conditions Tyler & Rutherford Loan Correspondent Stutaal Benefir- Lite 1520 K Street ~ Main 475 Money to Loan red by first deed of Frevalling «intoreet ahd. tommismion "' Joseph [ Weiler ‘32,45, 54 try Real Estate lnlnnm Money to First and Soe‘cond Trust Notes Chamberlin Const. Co., Inc. Main 6347 212 Colorado Bldg. REAL ESTATE LOANS 52 % FRED T. NESBIT 1010 Vermont Ave. Main 0392 G. M.-P. MURPHY & CO. Members New York Stock Exchange Successors to L. EDWARDS & COMPANY A copy of our Fortnightly Review sent on request 1416 H Street Northwest Jo! 52 Broadway, New York Richmond, Va. Secured 4'2% Gold Bonds, Series A due September 1, 1952 City in United States gold coin. provided n the Trust Indenture. The jprevious notice, on Septem| ¥ 7 and thereafter at par plus %% for % @ letter dated August 24, 1927, wriles in terminal properties in St. Paul, Minneapolis and Kansas and on |ho£o at Silvis, near East Moline, llli;oi-. Of the B amount of First and Refunding Bonds (limited to $163,000,000), $104,472,000 Bonds are outstanding in the hands of ublic. Including Bonds to be “irst and Refunding Mortga, ge together prior Jien Bonds in the hands of the public (the can not be increased), will be about $34,200 per mile of road. The Rock Island the for the present issue, the with $81,516,000 amount of which outstanding at the rate of only with lines in fourteen states, System, operates a total of 8,031 miles of road. The properties are in excellent physical condition. During the last ten years expenditures for improvements and deducting the cost of approximately $80,000,¢ retired, ba The tentative valuation new equipment, after ted to the Interstate Commerce Commission as of June 30, 1915, ':’]'i the addition of expenditures made on the exceeds by about 50%, the total funded completion of this financing. The Railway Company $74,482,522 Common Stock, on which 5%_per annum are now being paid capital stock, on the basis of present $140,000,000. ’ has _outstandin; 7% Preferred Stock and $25,127,300 6% Preferred 1917, on which full dividends have been mp'uo'tg:imx that date, outstanding on $29,422,189 ,issued in id regularly, and dividends at the rate of ; the value of the outstanding market prices, is about The total income for the year ended December 31, 1926, after $24,531,711, or over twice the total annual interest all deductions, except interest and Federal income taxes, was al ($11,708,313) on the funded debt to be outstanding, E iving effect to this financing. For the six months ended ?une 30, 1927, such total income was for the same period last year. Proceeds of these Bonds will be used to pa $7,862,000 6 Notes to be presently called (vi: $2,859,495 greater than $28,862,000 Note to the United States Government, due in 1930, $15,000,000 5% Notes, due in 1929, and $6,000,000 414% Notes, due in 1928), to reimburse the treasury for capital expenditures and to provide for additions and betterments. Application will be made to list these Bonds on the New York Stock Exchange. The issuance and sale of these Bonds are subject to the approval of the Intersiate Commerce Commission and ‘:;“‘:;e approval b}{ the xtockholdzn‘:/b]lu Company of the Trust Indenture referred to above. Al proceedings in connection with the issuance of these Bonds are subject to the approval of our counsel, e Messrs. Cadwalader, Wickersham & Taft. ‘We offer the above Bonds for subscription, if, as and when issued and received by us, at on or about September 15, 1 Speyer & Co. August 25,1927, The Nafional City Company 95% and accrued interest, to yield about 4.85%. We reserve the right to close the subscription at any time without notice, to reject any application and -pf;lied for. Alll.:flnfl due on allotment will be payable at the office of Speyer ey 927, as called for, against delivery of Interim Receipts exchangeable for Temporary Bonds when ready. to allot a smaller amount than 24 & 26 Pine Street, in New York funds, J. & W. Seligman & Co.