Evening Star Newspaper, September 6, 1927, Page 14

“IN BULLS HOLD SWAY ON STOCK MARKET Wore Public Participation in [Trading Believed Enlisted. lhi Many at New Tops. BY GEORGE T. HUGHES. cial Dispatch to The Star. YO! E 6.—The ftock market started in after the holi- '.’\\ w the upward movement in full sw Activity was greater than h the of the previous week, fhe ms and the price idvances were large New highs of ne or anothe were sprinkled berally over the entire list, with the nd the oils about the only ex- former New York | NEW eptember der sort ils ptions and in th entral stood out. There was nothing in the news over e week end to account for the out- purst of speculative enthu: sm. erms of the Government September I5 financing were interpreted to fore- t continued easy money, but there 3. no doubt on that score for a ng time. Trade advices were mod- rately optimistic, but it is improb- | t that wa n influence. The | was the demonstrated | market to push through | ANCIAL Open Abitibl Pow (5). 107 Abrahm&Straus 90 Adv Rumley.... 12% Ahumada Lead.. 5% Air Reductn(16) 183 Ajax Rubber.... 8% Albany Papr(2). 31% Albny Pap pf (7) 99% Allied Chem (8) 166% Allied Cm pf (7) 122% Allis Chdlm (6). 114% Amerada (2).... Am Agricul Chm Am Agri Chpf.. Am Bank N (2). Am Beet Sug . Am Bosch.. . Am Br Sh (j1.60) Am Brown Bov. Am Brown Bo pf AmCan (2)..... Am Can pt | Am Carsrdy (6 10 |AmC& Fpf (7). Am Chicle (3) Am Drug (80¢c) Am § Am & For Pow.. 244 Am&Fo Po pf (7) 103% Am Hide & Lea. 9% Am Hide & Lpf. 63% Am Ho P (240). Am Homes rt. American Ice. Am Internatl(2) Am La France. Am Linseed. Am Linseed p! Am Locomot (8) Am Machine (2) Am Metals (3).. Am Piano (3)... Am Piano pf (7) Am Po & Lt (11) 109% 114% 43 344, 94 6 tion was ¢ opin- | which can | The that the | than a m-u-i far public particips ited was matt ething estim certain more New Highs Nu imeration of the hich went to “new highs’ - idea of the proceedin . New York Central her than at any time General Motors, above under the present Nash Motors highest since the lit-up, tc price being the uivalent of 900 for the old shares. u Pont made a new record for the resent no par shares. s prominent. eynolds sold at the highest | nce the capital readjustment in 19 gett & Mvers “B” made the b ri C 24. Baldwin and General featured the equip- nerou various | t 90 sold the R” J ents both at the best in their tor {There was a s forging ritory, all long list of general ahead into new of them for the r and some of them for all time. v included Allied Chemical, @n Can, Coca-Cola, G Montzome; ard S’m orth. Other {Biscuit, Postum ‘international ¥ Pmelting & Re Co., Loose-Wiles, ester and American 5 as prominent as | fe industrials, but they were nearly i and some of them strong. n up a couple of points {rd Great Northern preferred sold {}round the best of the year. Steels in Fair Demand. Steels were not as active either, but fhey. too, were in a fairly good de- pand. Colorado Fuel & Iron was the pader of the pendents. United Btates s t a new high f deduction of the dividend is taken mgo account. solidated Gas, Na- {ional Power Palifornia_Edis In_the utility group. | Doubtless ‘short covering played a part in the closinz days of last week {hat many speculators for the decline ust have heat a_hasty retreat. By hat much the technical condition had peen weakened and the inevitable re- jjetion brought nearer. Any unfavor- ible trade development would surely fhave a decided effect on a market that as gone ahead as far and fast as Ihis one, but Wall Street was not look- Iz for anything of that kind today. Commodity News A, X September 6.— an Rubber Producers, Inc., pave 800 acres planted in guayule | plant in the Salinas Valley, 600 acres f which was planted this year and 00 last year. The plant requires four ears o mature and is expected to Do My o ori ity ShEMD vt cre, with a rubber content of 10 per nt. The acreage will be more than ubled next year. TOPEKA.—Warm weather has made pertain a_bumper corn crop in Kansas nd enabled farmers to speed up Fall tln\\ing and soil preparation for next The last corn crop re- i«nx predicted a yield of 116,000,000 ushels, compared with 57,000,000 a ear ago, and the next report is ex- ected to revise this figure up to Ywout 150,000,000 bushels. PORTLAND.— West Coast umbermen'’s iation reports a lizht decline in orders and produc- tion in the last week, but a slight gain deliveries, “Production totaled 121,- Jinses feet, orders 119,993,501 and ipments, 125,305,417 feet. NGSTOWN.—A decided quick- 12 is noted in the piper and_tube irtment of the Mahoning Valley teel industry, with good orders com- fnz in the p: Fifteen pipe mills now operating, com- d with an ge of 12 or 13 the are ve mer. Tel. & Tel. Co. 45 mer. hacond & Ohio 68 1939 L Pet. Co. 434s 193 rel. Co. of Can. 53 105 & Hiuidson Ry’ ¢ R 78 14 en. | Am Sugar ( | Am Sum: Am Radiator (5) Am F D (6). Am SafetyR(13) Am Seating (14) Am Smelting (8) 17 Am Snuft (12).. 14 Am Snuff pf (6). 101% Am St Fdys (3). 56! 91ty 134 100 46'% 445 Am Sugar pf T Am Tel & Tel (9) Am Tobacco (8). 144% AmTobaccoB(8) 1444 Am Type Fo(8). 134% Am Type pf (7). 112 Am W W (m80c) 54 Am Woolen 251 Am Woolen pf.. Am Writ Pa ctfs Am Zine Anaconda (3) ArmourDel pf Armouroflll(A) Arnold Con&C Art Metl (135).. 25 Asso Dry G (213) 47 AtT& ST (193) 1961 AtICL (183).. 197 AtIGult & WI.. 35 Atl Refining (4). 118 Atlas Pow pf (6) 102 Austin-Nichol. 5% Baldwin L (7).. 265 Bald Loco pf (7) 124% Balto &0 (6)... 12 7 Balto & Oh pf (4) 797 Bambgr pf(62). 108': Bang & Ar (312). 76 Barnet Leather. 54'% BarnsdallA(23%) " Bayuk Cigars... 9413 Bayuk 1st pf (7) 109 Beech-Nut (13). 58 Belding Bros (2) 21% Best & Co (3)... 50% Bethlehem Steel Bloomingdale. .. Bon AmiCl A (4) Booth Fisheries. Booth Fish 1st.. Botany C MillsA Briggs Mfg (3). Blkn-Mn Tr (4). By Man T pf(6) . Bklyn Un Gas(5) 147 Brown Shoe (2). 44 Brown Sh pf (7). 120 Brunswick Te: Burns Bro (10). Burns Br B (2).. Bush Term (b8). 60's Bush Ter de (7). 103% Butterick (g2).. 52 Byer & Co. 75 By-Products (2). 73 Calif Packg (4). 67 Calif Petm (1).. 22 Callahan Zinc. 1% Calumet & Ar (6) 70% Calu & Hecla (2) 15% Canada Dry (3). 55% Can Pacific (10). 1861 Can Pacific rts. . 4% CaseThreshg(6) 2684 Cent Alloy (2).. 2874 Cent Leather pf. 85 Century RibM.. 14% Cerro dePas (15) 6b% Certain-Teed (4) 49% Chand-Cleve 6% Chandler pf( Ches & Ohio (1V) 195 C&OCorpn (3). 175 Chi & Alton.... 8% Chi& Altonpf.. 13% Chi & EastIll... 45% Chi & EastIll pf 79% ChiGreat West. 16% ChiGt West pf.. 35% Chi Mil&StP.. 174 Chi Mil & StPpt 33 CM&StPefs.. 16% C M&StP pfefs. 31% Chi& Nwn (4).. 91% Chi Rock Is (5). 111% CRI&P DL (6). 101% Childs (32.40).. 63 Chile Co (213).. 35% Christi B (1.20). 58% Chrysler Cor (3) 62 ChryslerpfA(8). 114 City Stores (B). 487 Cluett Peab (3). 6Tl Coca-Cola (5)... 123% Collins & Aik (n) 88% Collins&A pt (7) 103 Col Fuel & Iron. 84% Colo Fuel pt (8). 130 Col Gas & El (5). 95% Col G&E pf A (6) 106% Col Carbon (4).. 75 Com Y TT% Com Solvents(8) 184 Com Powr (2%). Congoleum-Nair Cong Cigar (4).. Con Cigars (7). Consol Distribut Consol Gas (5).. ConsolGas 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 Mont (80c). Corn Prod (13). Coty Inc (5). 3919 64 5% 42 29 25% 67 817% ¥ 114% 99% 697% 4% 46% 51 90 3% 190 10% 5Tl 901 907 uba Cane Su pt. Cuba Company. . Cuban Am S (1). Cudahy Pkg (4). Cuyamel Fruit Davison Chem Deere&Co pf (7) Del & Hud (9).. Del L & W (7). DRG Wstpf.., Detroit Fd (8) 36% 115 211 59% 15: 3 | Diamd Mteh(8). GERMAN fiOfiDS ANDWSTOCKS By Srecial Leased Wire to The Star. NEW YORE ptember 6, 1Quoted in doliars ver millig In) 5e 1014-18. 40 800.00 148 1919. .. .. 7000 85 Jars per thousand mark 00" 2 marks.) d Offer war.}ll 4s Dre-war. ) pid 1050 Dodge Bros Cl A | Dodge pt (7) Dome Mines (1). Dunhill Int (4).. | Dupont (t9%).. | Du Pont deb(6). stman (18)... 166% ton Axle (2).. 28% AutoLt (1635) 97% ctric Boat... 19% c Power & Lt. 274 &Lpt 40%(7) 116 1% 69'9 8% 51 1% 15% 70% 10 Slec Refrig rts. . ec Refrigeratn o1 Stge Bat (16) Elk Horn. ... ¥k Horn pf. . gineers Pub S uit Bldg (7).. e RR.... 1e 15t p! : Erle Stm S (2%) 13:00 7% 00 Eureka Va ft4% Fairbanks (3) Fed Lt (h2.40).0 High 10 9; 121 614 18! i 1691 122% 1141 130 102 91 1107 115 43 100 i 143 101% 56 91y 146% 1457 136 112! 47% 197! 199 35 118% 102 5% 265% 1241, 122% 797 1083 76 54'% 23% 94, 10912 5814 21% 501 5% 4214 30ty 297, 104 T6'y 73 68 224 154 70 56 187% 4% 273 287 85 65% 49 6% 215 196 514 8% 14 46 112% 101%% 581 6214 114 487% 1% 125 90 103 85% 130 957 106% TTh 7814 188% 617% 26% 68 81% 3 114% 99% 71 5 46 5k 90% 75 190 10% 367 '115% 211% 164 164% 13 517% 168 28Y% 100 20 28 116 1% 157 1% Received by Private Wire Direct to The Star Office. Low Close 108'% 10812 20 103 9% 63% 54 P 51% 521 9% 109% 110% 110 1124 43 34% 94% 6612 134 94% 67 134% 195% 197 197 199% 35 117% 118 102 102 911 9a% 109 1 57% 2115 561 8 144% 146% 44 454 120 121 103% 104 521 g 75 kE 662 186% 187% 4 4 268 273 28% 28% 85 85 14% 65% 14 6 9% 134 4519 9% 16 16% 4% 35% | 1% 1 327% 3 16% 1 31% 91 -9 111% 112 101% 101% 63 347 572 61% 61 114 114 48% 4874 Tl 0% 124% 90 103 130 130 95% 95% 1061 106% 761 T 76l 184 184! 60% 60% 25% 25% 67 68 81% 8% % % 113% 114 99% 99% 69% 171 4% 47 4% 44n 5 b4 90 901 731 3% 190 190 10% 10% 5% 574 904 91% 90% 923 8% 8% 38% 38% 20% 2 23% 23% 48 48 47 4% 35% 36 115 115W 211 211% 135 59% 51 51 310% 314% 310'; 31 113% 113% 113% 113% 166% 168 2814 28Y 9TH 99% 19% 20 T 2TY% 116 116 c P&Lt pf (7) 105% 105% 105% 105% %% 15 15% 70t 10 19 32% 3344 87 61% 60% 3134 69% 39 42 39 { Inspir | Inu First NatS(11). Fisk Rubber Fisk 1st pf (7).. Fleischmann (3) Fox Film A (4). Freeport (t434). Gabrlel Sn (313) Gardner Motor. . Gen Am Tnk (3) Gen Asphalt. ... Gen Asph pf (5). Gen Cigars (1) Gen Elec (15) GenElec sp(60c) A(o1%) GenMotors(w.1.) Gen Mot pf (7) en Outdr Ad(2) Gen Outdr A (4) Gen Ry Sig (5). Gen Refrac (3) mbel Bros. Gimbl Br pf (7) Glidden Co. ... Glidden pr p£(7) Gold Dust g Goodrich Ru (4) Goodrich pf ( Goodyear Ti Gothm S H ( Gotham new Gotham H pf (7) Gould Coupler A. Granhy (4).. Grt North Gt Nor pf c Grt Nor O (132). Grt Wes S Green ¢ D10 % st THelme Geo (1).. { Hocki Hollande Houston Oil. ... Howe Sound (4). Hud Man ( Hud Man pf Hudson Mot ( Hupp Mot(1.40). Illinois Cen (7). Indep Oil (1)... Indian Mot (113) Indian Refining. Indian Refg ctfs Inland St (213) ton. ... InterboroRapTr Internat Agri... ul prior is Ma (4)., Int Cement (4 Int Cement pf(7) Int Com Eng (2) Int Harv (j6). Inter Har pt ( IntMtch pf ) Int Mer Marine. . Int Mer Mar pf. Int Nickel 3 Inter Nick pf (6) Intl Paper Int Paper pf (7). Int Ry Cent Am. Intl Shoe (7). ilver. 3 Intl Silver pf(7) Int Tel & Tel (6) Int Tel & Tel rts. Intertype(t1i). Island Creek (4) Jewel Tea. . Jones Bros T Jordan Motor. . KCP & L 1st (7). Kan City South. yser J (4) Kelly-Spring. ... Kelly Tire 6% pf Kelly Tire $% pt Keystone T & R. Kennecott C (5). Kinney pf (8)... Kraft Ch (11%) Kress S H (1) H { Lago 011 (3) Lambert Co Lee Tire & Rub. LehighVal(31;). Lehn & Fink (3) Life Sav (1.60).. Lig & Myrs(f14) Lig&MyrsB (f4) Lima Loco (4).. Lig Carb (3.60). 's Inc (2).. Loose-Wil(2.60) Lorillard Co .. Louisiana 0Oil.., La Oil pt (61%). LouisGasA(1.75) Louis & Nash(7) Ludlum Steel(2) McCrory (1.60). McCrory B (1.60) McCrory pf (6).. | Melntyre P (1). . Mack Truck (6) Mackay pt (4).. Macy R H (5)... Madison Sq Gar. Magma Cop (3).. Mallison & Co... Mallison pf (7)., Mandel (23%)... Man El Sup (5) Man Shirt (2).., Market St prior. Marland Oil..... { Marlin-Rek 133} - Martin-Pary (2) Mathieson (4). May Dept S (). Maytag (27 MetroG p. Mexican mi Cop (1).. MidContinent (3) Mid. Mid States Oil ct Midland pf (12) Miller Rub (2)., Minn & St Louis. Min St P & SSM. Mo Kan & Tex. . Mo K & T pt (6). Missourt Pacific. Missouri Pac pf. Montana Pow (5) MontgmryW(4). Moon Motor. ... Mother L (50¢). Motor Met (3.60) Motor Whi (2).. Mullins Body. .. Munsingwr (3). Murray Corpn. .. sh Mot (t4 tBHess pf ( 4 Nat Cash R (A)3 Natl Dairy (3).. t Dept Stores. Supply (4). 2 uply pe(7). Nat Surety (10). Nat Tea (4) Nevada C(1%) Y Air Br (3).. NY Dock. NY NH & { Ont& W (1). Y Steam pf (6) jag F pd (1%). orf & W (8)... orAm b10%stk orth Am pf (3) orAm Ed pf(7) orth Pac (5 or Pac cfs Norwalk Tire Oil Well Sup. ... Oil Well S pf.. Omnibus. ...... Opnhm Col (4) ' Orpheum Cir Orpheum pt (8). Otis Elevator (6) 142% 145% Otis Elev pf (6). 12314 124 Otis Steel. . Outlet Co (4) O Tex & M (7). Open. High. Low. Close. i 7 17% 1 98 28% 188% 58 52% 102% 95% 934 35% 1084 13% T2% 104 10 64 27 18% 87 64 67 27 17% 86% 62% 16% 67% 67V 728 29 104 12 10 65 64 1 27 142% 144 124 9% 65 42 Outlet Copt (7). 1121 11241216 1123 | Prophy Br (13 | Pub NEW YORK STOCK EXCHANGE ‘ . Low. Close. % 8% 27% 394 1 41% Open. % 27% 39% 1% 417% 125 Owens Bot (Ct5) Pac Coast 2d (4) Pacific Gas (2).. Pac Of] Stubs. ... Packard (12.90). Paige Motor.... Pan-Am (6). 48% Pan-Am B (6) 484 Pan-Am West B. 20% Panhandle y D Parmt-Fam (j8) 103% Paramt-F pf (8) 119% Park & Tilford.. 38 Park Utah (80c). T4 Pathe Exchange. 6% Pathe ExA (4).. 29% Patino (1.212-3) 19% Peerless Motor. . Penick&Ford (1) Penn C & Coke. . PaDixieCt(3.20) Penna RR (332) Peoples Gas (8). Peoria & Fast. .. Pere Marq (18). . PhilaCo5 % pf2% Phila& RC 1. Phila&RC&]I efs. Philip Morr Phillips Pet (3). Phoenix Hosiery Pierce-Arrow. .. Pierce Arrow pf. Pierce Oil....... Plerce Petrolm. . Pillsbury. .. Pillsbry pf(6 Pitts Coal. Pitts Coal pf Pitts Stl pf (7).. PittsTerm Coal. Pitts &W Va(6). PorRicoTobA(7) Porto Rico To B. Postum (5)....e Pressed Stl Car. 1'% | Pr st Car pf (7) Prod & Refiner Producers&R pf. 7L 434 100% 107% erv NJ (2) Pub Serv pf (6). Pub SE&G pr(6) Pullman, Inc. ... Pullman Co (8). Punta Aleg Sug. Pure O1l (12). Purity BakA(3). Purity Bak B (2) Radlo Corp of A. Reading (15)... Real SilkHos(4) Real Silk pt (7). Reid Ice Crm(3). Rem-Rand $1,60. Rem-Rdlst (7).. Rep Ir & Stl (4). Rep 1 &S pf (7). Reynolds Spngs. Rey Tobac B (5) Robt Reis & Co.. Rossia Ins (6) RoyalD(al.3314) Rutland pf. 4 Safety Cable (4) StL&SanFr t8% St L Southwest. Schulte (3%). Seabd Air Line. . Seab Air L pt. Secagrave (el.20). ears-IR (n2%). Shattuck F G (2) Shell Tra (a2.41) Shell Un (1.40).. Shuber The (5). Simmons (2).... Simmons pt (7). Simms Pete. inclair Oil kelly O11 (2). Snider Pg pf. .. SPorto R Sug(2) outh Por pf(8). South Calit Ed South Dairfes A. Sou Dairies B. South Pac (6)... Southern Ry (1) South Ry pf (5). Spicer Mfg... SAdG&E (3%). StdG &I pf (4). Std Mill (5)..... StdOilCal(128). Std OIINJT (11%) Std OIINY (1.60) . Sterling Pro(16) Stewart-War (6) Studebaker (5).. Submarine Boat. Sun Oil (11). Superior Oll.. Texas Corpn (3) Tex Gulf S t43. Tex & Pacific.... Tex PC&O(60¢c) . Tex Land Trst n Thatchrp?(3.60) The Fair (2.40). Thompson (3.60) Tidew Aso (60¢) TidWASOIID(6) Timken (t5).... Tobac Prod (7 Tobac Prod A (7) 113% Transcont Oil.... Underwood (4).. Un Bag &Paper. Union Carb (6).. Union Ol (123%) Union Pac (10). Un Paclfic pf(4). Jtd Cigar Stores Utd Cig St pf (7) United Drug (9) Utd Dyew pf (7) Utd Fruit(i51). USCIP&F (10) U S Distributing U S Distr pf(7). . U S Hoffman (1) U S Alcohol (5). US Leather w 1. US Leather A.. US Leatprpf(7) U S Realty (4).. U S Rubber..... U S Rub 1st (8). U S Smelt (3% USSmpt (3%). U S Steel (7)... U S Steel pf (7). U S Tobacco(3) . Uni Pic 15t pf(8) Uni Pipe (121). Uni Pipe pf (7). . Utl PELt A (e2). Vanadium (3)... Van Raalte..... Vick Chem (4) Veksbg&SpL(5). Vietor Tlk Mch. . Victor cv pf (6). Victor pr pt (7). Va-Caro Chem Vi rCh 6% pt v r Ch pt (7) Va Iron Coal & C Vivadou (3). Vivaudou pf (7). Vulcan Detin. ... Vulcan Detin(A) Wabash........ Wabash pf A (5) Waldorf (13).. Ward Baking B, Ward Bak pf (7) Warner Pic A. .. Warren Bros (4) Washburn pf (1) Webh&Heil pf (7). W Penn E1 A (7) W Penn El pf (7) West P Po (6)... West P Popf(7). West Maryland. West Md 2d pf. West Pacific. . ... West Pac pf (6). West Union (8) . WesthseAirB (7) Westinghse (4). White Eagle (2). White Mot (4) White Rock (2). White Sew M (4) Willys-Overland Willys Od pf (7) Wilson & Co Wilson Co pf Wilson & Co pf.. Woolworth (5).. Worthn Pump. . . Worth Pump (B) Wright Aero (1) Wrigley (13%) Yale&Towne(5). Yellow Truck. .. Yel Tr&Co pf (1) 89 YungstnS&T(5). 86% Hourly Sales on N. Y. Market. 11am... 665500 1pm.. 1,124,500 12 m.... 1,460,200 2 p.m... 1,773,400 Dividend rates as §1ve0 in the alove tahle 43% 1001% 107 136 196 20% 94 58 79% 17 39 9% 65 50% 96% 42 50% 1461 135% 857 101 54% 55% 84 33% MELLON RETURNS 10 BUSY OFFICE September Financing An- nounced Before His Arrival. Much Other Work to Do. Secretary of the Treasury Mellon was expected to arrive in Washington this afternoon following an absence from the Capital since last June, while on vacation, cruising the Medit- erranean Sea. Mr. Mellon announcement made last Acting 4 Mills of tember financing of the Treasury, and will find awaiting him at his desk a great mass of business. While Mr. Mills and the Assistant Secretaries in the meantime, have carried for- ward the regular business of the ‘Treasury Department, and saw fit to announce the eptember financing before the arrival of Mr. Mellon in order to get it on the market in time, there are many problems, not only of finance, but of other nature, such as the great public building program, affecting Washington, on which Mr. Mellon’s decisions are needed. He will come to his desk for the first time probably tomorrow morning. 3 The Treasury offerigs for the third quarter took the form of two issues: First, six-month 3 per cent Treasury certificates of indebtedness, and ond, threefive-year 3l per cent Ly sury notes, both dated Septem- ¢ 15, and bearing interest from that after the night by the Sep- ves short! §230,000,000 Offered. mount of the 3 per cent cer- of indebtedness offered is 000,000 or thereabou Subscrip! it was announced, are invited & ad accrued interest. The certifl | mature on March R The 3! per cent Treasu are being offered both for cas in exchange for Second Liberty Loan converted 4% per cent bonds. The 4 per cent Second Liberty Loan bonds will not be accepted in exchange for the new notes. The amount of the issue upon ex- change subscriptions will be limited only to the amount of the second 4145 tendered and accepted. 3 change subscriptions are invited at 1005, Interest on any 41s sur- rendered and accepted upon allotted exchange subscriptions will be paid in full to November 15. The ex- change offering will probably be kept open until September 2. The offer- ing of certificates of indebtedness and the cash offering of Treasury notes will probably be available for only a few day Attention again was called by the Treasury to the fact that all bonds of the Second Liberty Loan have been called for redemption November 15 nex w Part of Refunding Program. e total amount of the Secord Lib- Loan, ued on November 15, was $3,807,865,000, and it was explained, when the refunding of this loan was begun in March last $3,104, 520,050 remained outstandin; On March 15 $1,360,456,4 bonds were refunded into 31; per cent Treasury notes of 1930-1932, and on June 15 a further amount of $245,- 36,000 refunded into 3% per cent Treasury bonds of 1943-1947, Further reductions were made through purchases for sinking fund account and from surplus money. As result of all these operations, the amount of Second Liberty Loan bonds outstanding at the present time is something less than $1,200,000,000, of which $1,180,924,400 are second 4%s. The issue of the new Treasury notes in exchange for these bonds is in furtherance of the Treasury's refund- ing program. Except for the pre. mium the present exchange offering is substantially the same as that of March 15, last. Seek Part in Merger. Seven short lines appealed to the Interstate Comm e Commission to- day to withhold approval of the pro- posed acquisition by the Chesapeake & Ohio of the Pere Marquette and Erie Railroads until adequate provision 1 been made for inclusion of these smaller roads in the unification. The short lines are the Attica Railroads of New z\l:c:l(li'l & Betsey River Railw of Michigan, the Chic g0, Attica and Southern of Indiana, the Morehead & North Fork of Kentucky, the Mount Jewett, Kinzua & Riterville of Penn- vlvania, the New York and Pennsyl- ta.:lln. (m;rnlllngI in bbnlh of these States, and the Plattsbur; & Vi States, and g Railway of In a blef, the seven intervenors de- clared they did not wish to be under- stood as antagonistic to the proposed unification, but objected simply on the ground that the Chesapeake & Ohio application “falls short of being justi- fied when the short lines are left out of the picture. 0 of these the Financial News Optimistic. ‘With Labor day past, many bankers returned to their pPosts this morning from t\';l‘l‘fll!(l", and several more are expected within the next few duys and weeks, it A spirit of optimism seemed to per- vade the financial center of Washing- ton today as to prospects for picking uj of general business for the Fall. Some, however, were not So enthusiastic in their hopes for any immediate im- Drovement in the situation here, on :,'l‘!l:‘!‘fl“]_ pointing to the adverse re- borts, almost universal among the rail. roads of the country. | C ; Raymond V. Hinson, manager of ‘!IE Washington office of the National City Co., returned to his desk this morning ' following a vacation as the guest of Rev. Dr. 7. Barney T, Phil. ps, at his Summer home at Daven. vort, Mass, 5 Vilson B. Van Devanter, manager of the Washington office of the Guar. anty Co. of New York, returned tods from a month’s vacati a s vacation at Oconom- owoe, Wis, i W. D. Hoover Expected Back. William D. Hoover, president of the National Savings and Trust Co., is expected to return next Monday from his vacation at Hot Springs. ‘Woodbury Blair, first vice president of the National Savings & Trust Co., will return from his vacation at New. port about October 1. George Bowie - Chipman, resident partner of Harriman & Co., will return with his family from a vacation in Europe about September 20, Charles 1. Howe, treasurer of the American Security & Trust Co., has re- turned from vacation at Mifiiintown, ’a. Hans Treland, assistant treasurer of the American Security & Trust Co., re- turned this morning from a month's vacation on the Eastern Shore. Robert V. Fleming, president of Riggs National Bank, is expected to return within a day or two from his vacation at Ocean City, N. J. R. G. Marx, auditor of Riggs Nation- 1l Bank, returned today from a month's vacation. — are the annual cash payments Lytost suarterly or "nal Unless othervisa not dends are not incinded. Unit of tradin iess than 100 shares. ri'v extra § Plus 4% in ttock. in _common stock 1 P a Paid fen por_cent <12 % quarterly. abla “w sed on the wearly declarations. extra or snccial divie <tock. 5 in stock. ea earned. e Payable in_ c: or stock. [ Plus 10% in st & Plus 1/50 share 'n stock 1 Plus $1 a share in speciaj stock i Plus 6% in stock. jPlus 2% in stock. k Payable 1 0 of a share A stock. m Plus 8% tock. p Plus $3 in prefer 4 i aaadialr 41 ociumgn k. 13 | (in Wholesale Markets Today's market report on fruits and vegetables, compiled by the Market News Service Bureau of Agricultural Economics, says: Apples—Supplies moderate; demand fair, market about steady; Virginia, bushel baskets, Northwest Greenings U. 8. No. 1, 214 inches up, 2.15a2.25; Maryland and Delaware, Virginia and West Virginia, bushel baskets, vari ous varieties, 215 inches up, 1. few 2.00. Cantaloupes — Supplies moderate; demand and trading fair, market about steady; Maryland, ~standard flats, 12s and 15s, pink meats, 60a75 jumo flats, 9 80; New Mexico, standard flats, 12s and 1 meats, mostly 1.00; jumbo flats and 6s, pink meats, mostly 75; supplies moderate; demand market slightly str Cali- ard crates, 9s, fair qual- and condition, 2.00 jumbo -rates, excellent quality and condition, is and 2 5; s, 2.25a2.50; 88 to 12 Peas—Supplies light: demand slow, market about stead. Colorado, 45- pound crates, 3.50a4.00, few higher. Lettuce—Supplies moderate; demand and trading rather slow, market about steady; California, crates, Ice- berg type, 4-5 dozen, fair to ordinary quality and condition, 2.0023.00; Colo- rado, crates, Iceberg type, 4-5 dozen, some dirty, 3.50a4.00; New York, 2- dozen crates, Big Boston type, 75a85. Onions—Supplies moderate; demand good, market_steady; > pound sacks, Yellows, T a2.50; ordinary quality 2.00; Tndiana pound mostly Whites, Peach Market Stronger. Yellow: Ohio, 100-pound ctly ew higher. sacks, m heavy: demand market sl “k; bushel £ medium to 50; small to New Jersey nm hes—Supplies ding moderate: for good i Elbert large size 25; few 2 medium 1.30a2.0( nd Pennsylvania, Belle e size, some wasty, 1.50¢ medinm to la igher. light; demang good, market steady: California, b Bart- ts, green, 3.0023.50; ripes and turn- to de- Jei s—Supplies moderate; mand_fair, m ey, 150-pound 1, 3.35a3. Eastern barrels, Cobbler ; inostly, 3.8 t potatoes demand and trading Virginia and rolina, cloth-top Yellow . 1, 2.5023.00; or- lity and condition, 1.25a1,50. Supplies light; demand fai steady; New York, two- few higher. moderate; home- North Carolina, and Virgini ir condition, cloth-top ' stave No. 1, Supplies moderate; »w, market dull; grown receipts lizht: Delaware, Maryland truck receipts light; Delaware, 6-ba. tes, Concords and Moor Virginia and Ma ites, Moores, early moderate; 75a90; beans—Supplies Eomegrown bushel baslets, mostly 75 Spinach—Truck receipts moderate; Maryland, bushels, mostly 1.00. WILL EXPAND IN GERMANY. NEW YORK, September 6. (P).— Germany offers an exceptionally good field for 5 and 10 cent clop- ment, say t Pa president of F. W. Woolworth Co., just back from Europe. opened in Bremen and Berlin have been so suc cessful, he said, the company will e tend its chain throughout Germany. he country shows every sign of prosperity and hest of all they manu- s there. Our Engl business continues to do exceptionally th pro: rampant every America, T can see no let-up s, until possibly the Spring LIQUIDATING DIVIDEND. NEW YORK, September 6 (#).—Ok- lahoma Natural Gas Co. has declared a liquidating dividend of fractionally more thaa a dollar a share, payable immediately, repr.senting proceeds of the sale of 26,000 shares of the stock of the new Oklahoma Gas Corporation received as part payment for proper- of the old company. The stock been sold to Phillips Petsoleum Co. for §25 a share. No decision has been reached on the disposal of $12,500,000 bonds of the new corporation held by tt - old company SHOE SALES HEAVIER. NEW. YORK, September 6 (#).— Shipments of shoes in August exceed- ing $7,000,000 are reported by the En- dicott ~ Johnson Corporation, an _in- crease of 14 per cent over August last vear. Net sales for the eight months of 1927 were 2,600,000 pairs, a_gain of 10 per cent over a year ago. Demand for shoes is exceptionally strong for this season of the yi n all sections of the country, the company reports, with no indication that the firm posi- tion of the hide and leather market will be altered in the near future. WOOL QUOTATIONS. BOSTON, September 6 (Special).— Dealers reported inquiries for finer grades of wool as the Boston wool market resumed business today after the holiday. Fleeces are spotty, but | dealers are showing no disposition to | modify prices. Fine territory w. quoted today at 1.10a1.12 clean basis, French combing at 1.05a1.08, half blood at 98a1.00, three-eighths blood at 90a92 and quarter blood at 80a82. Fine Ohio grades fleeces were quoted at 45a46 grease basis, half blood at 45, three-eighths blood at 44a45 and quar- ter blood at 44. COTTON GOODS QUIET. NEW YORK, September 6 (Special). —~Cotton goods markets started the week with quiet trading at unchanged prices. Print cloths were quoted at 9¢ for 64x60s and at 10c for 68x72s. Raw silks were firm in a quiet market. FOREIGN EXCHANGE IQuctations furnished by W. B. Hibbs & Co.) Nominal Selling checks gold value today London, pound $1.8605 $1.86% Montreal dollar 3 5 franc. els. 1r: Berlin, mark Rome. lira Zurich franc Athens drachma. Madrid, peseta. Vienna. crown. Budapest _cros Stockholm crown NEW YORK, s 2685 ptember 6 (P).— “oreign exchanges, firm; quotations | cents): Great Britain, demand, 485 11-16; cables, 486 1-16; 60-day bills on banks, 481 France, demand, 3.91%; cables, Italy, demand, 5.4312; cables, 5.44. Demand: Belgium, 13.9113; Ger- many, 23.7713; Holland, 40.04; Nor- Wi 26.25; Sweden, 26.83%3; Denmark, 26.75; Switzerland, 19.28; Spain, 16.891%; Greece, 1.35; Poland, 11.20; Czechoslovakia, 2.96%; Jugoslavia, 1.76; Austria, 14.08; Rumania, .6 Argentina, 97.06%: Brazil, 11.87% Tokio, 47.25; Shanghai, 60.50; Mon | treal, 100.03%. TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.) = lose. FINANCI COTTON ADVANCES INTODAY'S TRADING Small Private Crop Figures and Firm Cables Factors. Market Quiets Down. By the Associated Pres NEW YORK, September 6.—The cotton market opened steady today at an advance of 3 to 17 points in response to relatively firm Liverpoot cables and small private crop figures. December sold up to 2" and March to 23.05 advances of about 17 to 24 points from Saturday’s closing quotations, but this bulge met con- siderable realizing or liquidation and there were reactions of 9 or 10 points from the best by the end of the first hour. A _private crop report placed the condition at 55.7 and the indicated vield at only 12,038,000 bales. There was probably some buying on these figures, but later another report plac- ing the condition at 60.1 and the in- dicated yield at 13,500,000, helped to offset the influence of the smaller figures. There also may have been a little selling on cable advices that the Master’s Federation in Lancashire had recommended mills to close on aturdays and Mondays for eight W Trading was less active later in the morning and the price movement comparatively narrow. There may have been a_little selling on the re- ports that additional curtailment was | recommended for Lancashire mills, but if o it was in small volume, and the market showed a generally steady undertone. At midday December was selling around 22.84 and March, 23.0 or about 14 to 17 points net higher. OIL OUTPUT CLIMBS. Daily Production Rises 18,403 Bar- rels Week Ending September 3. b 4 A, Okia., September 6 (#).— Daily average production of crude ofl in the United States spurted upward by 18,403 barrels during the week end- ing September 3, the Oil and Gas Journal says Production was given as 2 rels daily, as r 07,155 barrels for the preceding week. Production in the Greater Seminole of Oklahoma was back over the aximum of 450,000 barrels a day, agreed upon by the operato After declining to an average of 436,115 for the week ending August 27, it rose to a daily average of 451,410 during the last weel California showed an increase aver- aging 6,000 barrels a day in light and heavy crude oil, and the week's gain in west Texas fields averaged more than 5,000 barrels a day. SUGAR IS FIRMER. Better Spot Inquiry Has Stimulat- ing Effect on Futures Market. NEW YORK, September 6 (#).— The raw sugar market was firmer today, with a better inquiry and offerings light. Prices were unchanged at 477 for Cuban, duty paid, with sales of about 60,000 bags of Cuban to local refiners and operators at this level. The better inquiry in the spot mar- d firmness abroad, where the et was higher on account of un- ble weather, had a strengthen- ing influence in the raw sugar futures market during the forenoon session and caused active covering and some further outside buying. Prices at mid- day were at the best of the session thus far and from 3 to 6 points above the close of last week. There was a more active withdrawal demand in refined sugar, with new business also showing signs of im- provement, evidently promoted by the firmness in the spot market. Prices were unchanged at 5.75 to 6.00 for fine granulated. g D, L. & W. EARNINGS DOWN. NEW YORK. September 6 (#).— Earnings of the Delaware, Lackawanna & Western Railroad for the first half of 1927 were equal to $4 a share. against $4.31 a share in the first half of 1926. Surplus after charges was . 1, compared with $7,264,527 a r ago. Gross revenues were $211,- 793 larger, reaching $41,731,2: NEISNER SALES GAIN. NEW YORK, September 6 (#).— Sales of Neisner Bros. for the eight months this year rose to $3,563,922 §'5<:1va $2,154,750 in the same period of REAL ESTATE LOANS 55 % FRED T. NESBIT 1010 Vermont Ave. Main 94 Resolution Z‘T is said that a young man should aim to be manly and self reliant. T might be added that he should learn to make good use of his spare mo-. ments and to save his money. LSO that his savings should be invested in M:Keever & Goss First Trust Notes. | | | o~ MEEERG5G e 115 K Street - Main 4752 The New York Life Apartment Home AL Money to Loan Secured first deed of trust on resl estate Prevailing interest and mmm;xrm Joseph 1. Weller 30,331 6129, First Deed of Trus Notes for Sale Secured by Improved Real Estate in the District of Columbia Principal and Interest GUARANTEED REAL ESTATE MORTGAGE & GUARANTY CORPORATION Main 1403 26 Jackson Place Resources Over $4,000,000 L. E. Breuninger, President We Have Ample Supply of | Money to Loan —on Real Estate, lo- cated in the District cinity. Lowest Interest and Com- mission. Prompt Answers. THE COMMERCIAL NATIONAL COMPANY Tne Paid Up Cash Capital, $700,000 Commercial National Bank Bldg. 14th and G Sts. OFFICES FOR RENT SAUL BUILDING 925 15th St. N.W. A few desirable offices available in situa the and T ients v parking. ment_ Denart 4 ding make The location it especially d LAWYERS BUILDERS ACCOUNTANTS INSURANCE BROKERS All Outside Rooms. A Light and Afr Rents. per month room and Suites avaitabl | B. F. SAUL CO. Main 2100 925 15th St. N.W. for pr also larger Money Available for FIRST DEED OF TRUST LOANS 67 17 Reasonable Commission Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. LOANS We will gladly receive and give prompt attention to applications for Loans on Washington Real Estate Current rates of inter- est. Should you have Money to Invest —we can also take care ot you. Our experience, ex- tending over a period of Thirty-five Years —insures your protection. Percy H. Russell Co. 926 15th St. N.W. Continental Trust Co. 14th and H Streets Capital $1,000,000.00 Checking Accounts Savings Accounts Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Cheques Acceptance Credits Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets WADE H. COOPER. President Capital $1,000,000.00 Insurance Company Offers to Make First Mortgage Loans On Improved Real Estate & the District of Colun.bia and Nearby Suburbs in Montgomery County, Md, for 3, 5 or 10 year terms on your 5%2% Office Building Business Property Apply Ranparr H. Hacxs Incors MORTGAGE LoaN 1321 Connecticut Ave. R &. COMPANY “CORRESPONDENT Telephone Main 9700