Evening Star Newspaper, September 8, 1927, Page 14

y i i 1] 1 i | | | rnings - _Chesapeake & Ohio than anywhere | Belding Bros (2) i[ “else at present. The stock may have | Best & Co (3 __The closing was strong. vvear's high of 4.857%. ‘"bullish Government crop estimates. +Mer cash demand. Cattl> Coae ws SN SELLING 1S HEAVY INSTOCK MARKET frices Yield, but No General Reaction Results—Move- | ment Highly Irregular. BY GEORGE T. HUGHES. @pecial Dispatch to The Star. NEW YORK, September 8.—The stock market encountered heavy sell- ing today and prices yielded. There was good support, however, on the de- oline, Which did not go far enough to Justify calling it a general reaction. Rather it seemed to be the profit-tak- ing which would normally come into & market after so rapid an advance. Steel stocks were in supply almost from the start. United States Steel did not open at 150, which was the highest since the stock dividend, and, taking that into account, the highest for all time, but it came down later. Bethlehem Steel, in much the same fashion, sold at the best since 1923 at the opening and then receded. Crucible lost over a point, which, however, was not excessive, consider- ing the rapidity with which it went up Wednesday. Probably steel shares felt the intfluence of the passing of the dividend on Gulf States Steel, an- nounced after the close of business on the day before. Gulf States Steel | itself made a new low for the ¥ 3 Motor Stock Irregular. The motor stocks were irregular. General Motors dipped below 0 for a loss of over 2 points on the day. Nash met heavy profit-taking, but the market took it in good style and the stock held well. Chrysler was fractionally lower and so was Packard. On the other hand, insist- ent demand appeared for Stude- baker, putting the price up to a| new 1927 top. Studebaker had not participated in the rise of the other motor stocks and so was in a posi- tion to respond to the buying. The general run of industrials moved unevenly. Woolworth came down rather sharply early in the day, General Electrle was off almost 3 points and Case Threshing Machine down about as much. Allied Chemi- cal was lower and Montgomery Ward and Sears Roebuck receded. Against these losses was a vigorous advance in American Smelting and Refining iand confident buying of certain chain 'store stocks. National Tea was up 10 points, at 165, and the most con- spicuous stock in this part of the list. Another feature of the day on the buying side was Continental Insur- ance and Natlonal Surety Co. The former at 200, had registered a rise of 10 points over the preceding close and National Surety was only a little behind. ‘The rails did better than the indus- trials all day. Chesapeake & Ohio again.was the star performer. It had |closed at 1973 yesterday, which was . new high for all time. Selling today ex-dividend of 21 points, it opened at 195% and rapidly advanced above 198, equivalent to rore than 200, taking the' dividend into account. As was stated in this column yesterday, com- rison of the seasoned dividend-pay- ing railroad shares shows that a dol- lar ‘buys more eai per share in been held back hitherto by doubt over the result of the application for con- trol of the Erie and Pere Marquette; ‘but however that case is decided, the earnings remain the same. Pennsylvania was another high- fi‘do rail-to make a new high today, this case the best since 1910. Penn- sylvania would have ;to sell at 70 to reach a 5 per cent basis, and there is _still expectation of an. offering of valu- able subscription rights to new shares. In the: lower-priced rails the move- ment_in_ West Maryland kept up and, with a comparatively small turn- over, that in Wabash, With regard o the latter, the story was revived of & $5 guarantee on this common stock by the Loree interests. CLOSING IS STRONG Profit-Taking Felt, However, by Some § of Market Leaders. NEW YORK, September 8 (#).— General slipped down around the 250 k‘lx‘m(n in the late afternoon with- out impeding the rise in some other d_accessory shares, notably and Mullins Body. American &mn Motors and Sears Roe- b tapered off on profit-taking. Houston Oil, which had a sensational - bulge of 20 points late vesterday, shot = about 10 more, touching 156 as the " #ho; rts scrambled to get stock. Total saies approximated 2,600,000 shares. Markets at a Glance fi;w YORK (#).—Stocks irregular; U5 Bteel crosses 152. Bonds firm: igh grade rail liens zctive. Foreign xchanges steady; Sterling returns to Cotton strong: Sugar steady: large spot sales. Coffee higher; firm Brazilan markets. CHICAGO.—Wheat steady;: rains in harvesting sections. Corn steady; bet- irregular. ~.Hogs firm. ——— I~ HuGE MERGER IN WIND. | Consolidated of Baltimore Mentioni- l ed in Big Philadelphia Utility Deal. Special Dispatch to The Star. BALTIMORE, September 8.—The | merging of the United Gas Improve- ment Co. and the Philadelphia Elec- tric Co., negotiations for which are already under way, according to re- ports from Philadelphia, will involve all the electric light and power com- panies serving Western Maryland, and probably the Consolidated of Baltimore. Combination of the two Philadel- phia companies, which have wide ramifications, would bring about the biggest deal of its kind in, the history of the country. Book assets of the two companies exceed $364,000,000. Arthur W. Thompson, president of the United Gas Improvement Co. was recently elected a director of the Consolidated Co. of Baltimore and this fact has been taken to mean that the latter property will not be overlooked in the extension plans of the United Gas Improvement. WOOL MOVES BETTER. ‘BOSTON, September 8 (Special).— Some improvement in fleece wools de- veloped today in the Boston Wool Mar- ket, with quarter fleeces moving a Bittle more freely at 44 and fine Ohlo grade at 45ad46 grease basis. Half blood fleeces were gquoted at 45 and three-eighths blood at 44a45. Finer sorts of territory wools are especially in demand. Fine territory was quoted at 1.10a1.12 ciean hasis, French comb ing at 1.05, half blood at 1a1.02, three- eighths blood at 90a92 and quarter blood at 80a82. BUTTER IS STEADY. NEW YORK, September 8 (#).— Butter—Steady; receipts, 22,134 cases: ereamery, higher than extras, 45a4534; creamery, extras (92 seore), 4413; do., firsts (38 to 91 scoreh 40addls. a ANCIAL." Open High. Low Close. AbItibt Pow (5). 107% 107% 106% 107 Abrahmé&Straus 89% 89 88 884 Adv Rumley. . 11% 11% 11% 11% Ahumada Lead. 5% 6% 5% 6% Alr Reductn(16) 186 186% 184% 185% Ajax Rubber. 8% 8% 8% 8% Alaska Juneau 1% 1% 1% 1% Albany Papr(2). 30% 30% 29 294 Allled Chem (6). 165% 166% 164% 165% Allled Cm pf (7) 123 123 123 128 Allis Chalm (6). 113 113% 112% 118% Amal Leather. 13 3 13 13 Amerada (2).... 29% 29% 20% 29% Am Agricul Chm 15 15 145 14% Am AgriChpt.. 49% 49% 47% 4T% AmBankN (2).. 68 69% 68 69 Am Bk Not f (3). 61 61 61 61 A= BeetSugpf. 49% 49% 49% 49% Am Bosch...... 21% 22 21% 21% Am BrSh (j1.60) 43% 45 43% 4% Am B Shoe pf(7) 128% 123% 122 122 Am Brown Bov. 12 12 M 9 Am Brown Bopf 52 53 50% 504 Am Can (2) 66 66% 6419 64% Am Canpf (7).. 1324 133 1324 133 Am Car&Fdy (6) 104% 107% 104 106% Am Chicle (3)... 69 59 58% 58% Am Drug (80c).. 13% 13% 13 13% Am Express (6). 158 1584 157 157 Am & For Pow.. 26% 26% 25% 25% Am&Fo Po pf (7) 104 104 103% 104 AmHide & Lea. 104 10% 10% 10% Am Hide & L pf. 63 64 63 64 Am Ho P (240).. 53% 54 53% 53% Am Homes rts. . 1% 1% 1% 1% American Ice... 28% 28l 28k 28W AmlIcepf (6)... 91% 911k 9lls 914 Am Internatl(2) 52% 54% 52% b4% Am La France. . 7 M 7 8t Am LaFrapf (7) 85 Am Linseed. . 494 Am Linseed pf.. 793 Am Locomot (8) 110% 1 Am Machine (2) Am Metals (3).. Am Piano (3)... Am Piano pf (7) 0 Am Po & Lt (11) . 667 67% Am Radiator (5) 137 137 Am Rad pf (7).. 134% 134% Am Republic.... 47 47 Am SafetyR(33) 47T'% 49% Am Seating (14) 45 45 Am Smelting (8) 173% 1787% Am St1Fdys (3). 55 55% Am Sugar (5)... 93% 93% - 924 Am Sugar pf (7) 114% 114% 114% 114% Am Sumatra.... 61% 61% 60% 61 11t 138 Am Tel & Ca (5). 34% 34% 34% 34% Am Tel & Tel (9) 171% 172 171% 171% Am Tobacco (8). llg 146 145% 146 AmTobaccoB(8) 146% 146% 145% 146 Am Type Fo(8). 135% 135% 134% 134% Am W W (m80c) 53% 54% b53% 5d% Am Woolen.,... 26% 26% 26 26 Am Woolen pf.. 62% 64 62% 63% Am Writ Pactfs 20 20 19% G Am Wr Pa pfefs 53 53 53 Am Zine.. o 6% TH 6% Am Zine pf. . 38 38 38 38 Anaconda (3)... 46% 46% 46 46 ArmourDelpf(7) 88 88 88 88 ArmourofIll(A) 9 9% ) 9% Armouroflli(B) 5% 5% Bl 54 Armour Il pf(7) 67 67 67 67 Arnold Con&Co.. 37% 37% 374% 37k Artloom pf (7).. 113% 114 113% 114 AssoDry G (2%) 47% 47% 48% 474 AtT&SF (19%) 195% 196% 195% 195W Atchison pf (5). 102% 103 102% 103 AtICL (18%) 197% 197% 197% 197% AtlGulf & WI... 35% 36 35! 36 Atl Refining (4). 120% 122% 119% 120% AtlasPowder(4). 64 64 64 64 Atlas Pow pf (6) 102 102 102 102 Austin-Nichols.. 5% 5% 6% 5% BaldwinL (7).. 268% 264% 263% 263% Bald Locopf (7) 122 122 122 122% Balto & O (6)... 123% 12314 1221 122 Balto & Oh pf (4) 79% T9% 79! 79 Bambgr pf(61%). 109% 109% 109% 109% Bang & Ar (3%5). 74 5% T4 To% Bang & Arpf(7) 111 111 110 110 Barnet Leather. 56% 56% b65% b55% BarnsdallA(2%) 23% 23% 23 28% Bayuk Cigars... 94% 94% 94% 94% Bayuk 1stpf (7) 109 109 109 109 Beech-Nut (13). 57% 57% 57% 57% 21% 21% 21% 21% . 50% 51% 50% 50% Bethlehem Steel 66% 66'% 65 664 Beth Stlpf (7).. 116% 116% 116 116 Blumenthal pf.. 86 86 86 86 BonAmiClA (4) 63% 63% 63 63 Briggs Mfg (3). 28% 28% 28% 28% Bkin-Edison (8) 184% 184% 182 182 Blkn-Mn Tr (4). 56% 56 55% 56 Bklyn Un Gas(5) 149 150 149 150 Brown Shoe (2). 46% 46% 45 45% Brunswick B (3) 334 33w 32% 38 Brunswick Ter.. 9% 10% 9% 10% Buff&Susq pf (4) 52 2 52 52 Burns Bro (10).. 106% 107% 106% 106% Burns BrB (2).. 25 24% 24% Burros Add (t4). 112% 112% 112% 1124 Bush Term (b8). 62% 62% . 61% 61% Bush Ter de (7). 104% 104 104% 104% Butte Cop (50c). - 4% 4% 4 4 Butte&Super (2) 9 9 9 9 Byer&Co....... 80 82 80 81 Byer&Coof (7) 111 111 111 111 By-Products (2). 76% 76% 176 175% Calif Packg (4). 66% 67% 66% 66 Calif Petm (1) 23 23% 22% 23% Callahan Zine. 1% 1% 1% 1% Calumet & Ar % % 1% TI% Calu & Hecla (2) 16 18% 16 164% Canada Dry (3). b55% b55% b54% b4% Can Pacific (10). 187% 1873% 186% 186% Can Pacific rts. . 4% 4% 4% 4% CaseThreshg(6) 276% 276% 273 273 Cent Alloy (2).. 28% 28% 28% 28% Cent Leath. . 18 18% 18 18% Century RibM.. 14% 14% 14% 14% Century Rpf (7) 177 8 75 5 Cerro dePas (15) 65% 65% 64% 651 Certain-Teed (4) 50 51% 50 51% Certain-T 1st(7) 113% 113% 113% 113% Certo Cor (t3%) 75 5 % Chand-Cleve. ... 7 Chandlerpf(213) 20% 21% Ches & Ohlo (10) 195% 198 C&OCorpn (3), 75 175% 74% T6% Chi & Alton. . 8% 8% 8% 8% Chi&Altonpf.. 14 14% 14 14% Chi&PBastIll... 47 47% 47 4T% Chl & East 1]l pf 8012 80% 80 80% Chi Great West.. 16% 16% 16 16 ChiGt West pf.. 35% 35% 35 354 ChIMII&StP.. 18% 18% 1T 18 ChiMil & StPpf 33% 33% 32% 321 CM&StPefs.. 17% 1T% 1T% 1% CM&StPpfefs. 32% 32% 324 32% Chi&Nwn (4).. 91% 91% 91 91 Chi Pne Tool (6) 120% 129% 129% 129% Chi Rock Is (5). 111% 112% 111% 112 CRI&Ppf (6). 101% 101% 101% 101% CRI&Ppf (7). 108% 108% 108% 108% Childs (12.40).. 62% 62% 62 62 ChileCo (23).. 35% 35% 35% 35% Chrysler Cor (3) 61% 61% 60% 60% ChryslerpfA(8). 114% 114% 114% 114% City Stores (B).. 51 51 50 50 Cluett Peab (5). 72 72 Ti% Tl% Coca-Cola (5)... 123% 124 123% 123% Collins & Afk (n) 90 90 90 90 Collins&A pf (7) 104 104% 104 104 Col Fuel & Iron. 89% 91% 87% ' 88% Col & Southn (3) 125 125 125 125 Col Gas & El (5). 96% 96% 95% . 96% Col Carbon (4).. 77% 824 1774 824 Com Cred (1).... 18% 18% 18% 18% ComCrpf (1%). 21% 21% 21% 21% ComCred pf 65, 78% 80 78% 80 ComInv (3.60).. 45 45 45 45 Com Solvents(8) 190 195 188 194 Com Powr (2%). 61% 61% 60% 61 Conde Nast (2).. 414 41% 40% 40% Congoleum-Nair 24% 25% 24% 26% Cong Cigar (4).. 67% 67% 67 67 Con Cigars (7).. 82% 82 82 82 Consol Distribut % % % % Consol Gas (5).. 119 119% 1184 118% ConsolGas pf(5) 100 100 99% 100 ConRRCuba pf6 714 71% 7i% Ti% Consol Textfle.. 4% 5 4% 5 Cont Bakg A (4). 44% 47% 44% 46% Cont Baking B., 6% 5% 5% b% ContBakpf(8). 93 94 93 94 ContCan (5).... 73% 78% 73% T3% Cont Insur (6).. 190 200 190 199 Cont Mont (80c). 10% 10% 10% 10% Corn Prod (13).. 57 57% b56% b56% Coty Inc (5).... 91% 91% 91% .91% CrucibleSteel (6) 95% 95% 93% 94 Cuba CaneSupf. 38% 39% 38 39% Cuba Company.. 22% 22% 22% 22% Cuban Am S (1). 24% 25 24% 24! Cuban Am pf(7). 106 106 106 106 Cuban Dom Sug. 16% 164 15% 16% Cudahy Pkg (4). 477 48% 47% 48% Cuyamel Fruit.. 47% 47% 47% 47% Davison Chem.. 36 36% 35% 35% Deere&Co pf (7). 116% 116% 115% 115% Del & Hud (9).. 209 209 207% 207% Del L& W (7). 135 135 133 184 DRG Wstpf... §9% 60% 59% 60% Detroit Ed (8).. 1541 155 1541 155 Diamd Mtch(8). 1837 137 133% 133% Dodge Bros CIA. 18% 18% 17% 18% £(7).... 68% 69% 68% 69% Dome Mines (1). 8% 8% - 8% 8% Dunhill Int (4)., 61% b61% 51 6l% Dupont (19%).. 314 314% 310% 313 Eastman (18)... 167 168% 167 168 Eaton Axle (2).. 29 29% 284 284 12% 12% Eisenlohr & Bro. 12% 12% .| Gen Elec (15), % | Inspiration. . FHE EVENING STAR NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Elsenlohr pf (7). El AutoLt (163) Electric Boat... Elec Power & Lt. Elec Refrigeratn Elec Refrigrts.. El Stge Bat (16). Eik Horn pf..... Emporfum C (2). End John (5).... Engineers Pub S Engnrs P8 pf(7) Equit BlAg (7).., ErleRR.. Erle 1st pf. Erle 8tm 8 (24) Eureka Va f143 Fairbanks ¢3)... Fed Lt (h2.40).. Fed L&T pf (6). Fed Min pf (7).. Fid Phoenix(4). First N P 1st(8). First NatS(1%). Fisk Rubber.... Fisk 1st pf (7).. Fleischmann (3) Foundation (5).. Fox Film A (4). Freeport (1414). Gabriel Sn (3%) Gardner Motor. Gen Am Tnk(4 Gen ATC pt (7). Gen Asphalt. . Gen Asph pf (5 Oven. 85 9874 19% 27T% 14% % % 104 % 62 61% 324 69% 39 43% 99 93 138 100 274 1% 891 631 564 6614 % 614 8% Hig! 104 86% 62 61% 3214 % 394 48% 9914 93 1481 100 28 17% 8% 85 8% 18% 27 14% Y% 69 20 33 78 35 104 861 61% 6074 30% 687 39 43% 99% 131 100 27% 16% ki 19 213 _14% 86% 61% 61 31% 8% 391 43% 99t 93 100 27% 66% 8 53% B14 B1% 8% 8% 8% 61% 61% 60% 60% 110 110 110 T6% T6W T4l « 1174 117% 117 110 4% 17 Gen Bakg pf (8). 127% 1271 12715 127% Gen Clgars (4).. GenElec sp(60c) Gen GasA(0113) Gen G & EI A(8) GenMotors(+10) GenMotors(w.1.) Gen Mot pf (7).. Gen OutdiyAd(2) Gen Outdr A (4). Gen Ry Sig (5). Gen Ry Sigrts. . Gen Ry S pf (6). Gen Refrac (3).. Goodrich Ru (4). Goodyear Tire. . Gothm S H (2%) 77% 7% 76% 76% Gotham new 23, Gould Coupler A, Granby (4)...... Grt North pf (5) Gt Nor pf cfs(5) Grt Nor O (1%). Grt Wes 8(2.80) Gt West S pf (7) Gulf States Steel Hartman A (2).., Hrtn B b10%stk. 691y . 141 1'% 42m 118% % 1514 4% 112 67% 48% 14% 69\ 144 1% 2% 118% 3 152 44 112 69 141% 11 42 118% 7% 150 4 110 69% 142% 1. 42 118" 52% 57% 150 4 112 67% 6674 667 49 15 4T 14'% 47% 15 58l 59 G58W 58% T8% 764 T6% 53% 53% 524 52% 8% TT% 64 38 103 9% 1% 6% 1% 6% M4 6% 381 37% 37U 103% 102% 102% 99% 9914 99 26% 25% 25% 25% 43's 43% 41% 121 62% 46 121 644 9% 121 60% 8% 42% 121 63% 8% 2% T0% T0% 112 46 111% 44 111% 44 28% 234% 23% 23% 22% 22% 22% 22%% HockingVal(10) 355 Hoe&CoA..... a2z 355 33 350 350 31% 33 Hollander & Son. 36% 3615 36% 36% Houshld P (313) 60% 60% 60% 60% Houston Oil, Howe Sound Hud Man (2%) Hudson Mot (5 Hupp Mot(1.40). Illinols Cen (7). Indep Oil (1)... Indian Refining. Indian Refg ctfs. Ind Ref pf(7)... Inland St (23%).. Int Com Eng (2 Int Combus rts. . Int Harv (§6)... 221% 222 147 18 156 86 18 145% 84 18 135 1354 134 20% 9% 9% 107 151% 39% 39% 39% 39% g:',fi 56% 56% 564 84 18 134 20% 20% 20% Indian Mot (1%3) 28% 28'% 284 28% 12% 12 posy 9% 9% 107 53% 53% 53 18% 18% 18% 11% 11% 56% 11% 55 92% 92% 92 56% b67% b66% 5TH 50 48% 487 41 50 Inter Har pf (7). 133 IntMtch pf(3.20) Int Mer Marine. . Int Mer Mar pf. Int Nickel (2)... Int Paper p? (7). 103% 10: £ Inter Salt (6). T6% 5 38% 40% 28% 39 133 6% 5% 133 5% 5 6610 66% 65% Intl Paper (2.40) 55% b55% 55!; 55% 70 167% 7 170 167% 11% 1% 111 53 18'4 11% 556% 92% s Y h 217% 217% 133 5% 5% 65% 3% 103% 103% 0 70 70 - 206 206 206 206 170 Intl Silver pf(7). 121% 121% 121% 121% Int Tel & Tel (6) 146% 147% 146 Int Tel & Tel rts. Island Creek (4) Jewel Tea. . Jewel Tea pf(7). Jones Bros Tea. Jones & Lau (7). Jordan Motor. .. KCP & L 1st (7). Kan City South. . Kan C So pf (4). Kayser J (4) Kelly-Spring.... Kelly Tire 6% pf Kelly Tire 8% pf Kennecott C (5). Keystone T & R. Kraft Ch (11%) Kresge (1.20). Kresge SS pf( Kress SH (1). Lago Oil (3) Lambert Co (5). Lee Tire & Rub. LehighVal(3%). Lehn & Fink (3) Life Sav (1.60).. 22% 22 Lig&MyrsB (f4) 123% 128% 122% Lima Loco (4).. Loose-W 1st (7) Lorillard Co .. Lorillard pf (7). Louisfana Ofl. .. LoulsGasA (1.75) Louis & Nash(7) Ludlum Steel(2) MeCrory (1,60).. MeCrory B (1.60) McCrory pf (6).. Melntyre P (1).. Mack Truck (6) Mack Trk 2d (1) Mackay (7)...., Macy RH (5). Magma Cop (3 Mallison & Co. Maliison pf (7). Manati Sugar pt. Mandel (2%)... Man EI Sup (5).. Man El m g (d5) Man Shirt (2)... Maracaibo Oil, Marland Oil. . Marlin-Rek 13% . Mathieson (4)... May Dept 8 (4).. Maytag (2%)... MetroG pf (1.89) Mexican Seab... Miami Cop (1).. MidContinent(3) Middle States. .. Midland pf (112) Miller Rub (2)., Minn & St Louls. MStP&SSM 1i(4) Mo Kan & Tex. . Mo K & T pf (6). Missouri Pacific. Missouri Pac pf. Montgna Pow (5) MontgmryW(4). Moon Motor..... Mother L (50¢c).. .| Motion Pic (1).. Motor Met (3.60) Motor Whi (2).. Mullins Body. .. Mullins B pf (8). Munsingwr (3).. Murray Corpn... Nash Mot (t4%) Nat Bellas Hess, NatBHess pf (7). Nat Biscuit 151 . Nat Cash R (A)3 Natl Dairy (3).. Nat Demt Stores. Nat Distillers. .. t Enam pf (7) Nat Pw&Lt (80¢) Nat Ry Mex 2d.. Nat Surety (10). 21 NatTea (4)..... 157% 166% 157% 165 Nevada C(1%).. NY Alr Br (3).. NYCent (8). N Y Central rt: NY C&StL (8) NY Dock.ss 5% 65% 64% 113 24% 122 7 515 146 5% 65% 656% 65% 65 13 24% 122% 64% 113 24 122 65 13 24 122 19% 20% 19% 20% 66 n 58% 28 84 89 7% % 55% 76% 115% 115% 115% 67% 71 66 L 115% 66% n 59% b58% 58% 28% 27% 27% 84 881% % 84 89 1% Y % 56% b55% 56% 1% 5% 6% 115% 115% 116% 116% 105% 105% 104% 104% D 88 88 Nat Lead (5).... 124% 1241 128 ‘| NY NH & Hart... NY NH&Har rts, NY Ont& W (1).. 35% NY Steam pf (6) 98 Norfolk South... 1 Norf & W (8). 86% NorAm b10%stk. 56% North Am pf (3). 52% North Pac (5). 96% Nor Pac cfs(5) 94% Norwalk Tire. 011 Well Sup. Omnibus, . Opnhm Col (4) Orpheum Cir (2) Otis Elevator (6) Otis Elev pf (6). Otis Steel. . Otis Stl pris Outlet Co (4). .. Outlet Co pf (7). Owens Bot (C15) Paciflc Gas ( Pac Oil Stubs. Pac Tel & Tel (7) Packard (12.90). Paige Motor. Pan-Am (6). Pan-Am B (6)... Pan-Am West B, Panhandle. .. Panhandle pf. Parmt-Fam (j8) Paramt-F pf (8) Park & Tilford. Park Utah (80c Pathe Ex A (4) Pathe Exchang: Peerless Motor., Penick&Ford (1) Penick&F pt ( PaDixleCt( Pa Dix Ct p Penna R R (3 Peoples Ga Peoria & 4 Pere Marq (78) Pere M prior (3). Phila Co (ki) Phila&RC1 Philip Morris Phillips Pet (3) Phoenix pf (7 Pierce-Arrow Pierce Arrow pf. Pierce Oil..... Pierce Oil pf. Pierce Petrolm Pillsbury....... Pillsbry pt(6%) PittsCoal. . Pitts Coal pf. PittsTerm Coal.. Pitts &W Va(6). PorRicoTobA (7) Porto Rico To B. Postum (5).. Pressed Stl Car. Pr Stl Car pf (7) Prod & Refiners. Producers&R pf. Prophy Br (13). Pub Serv NJ (2) Pub Serv pt (6). Pub SE&G pf(6) Pullman, Inc. ... Punta Aleg Sug.. Pure Ofl (12).... Purity BakA(3). Purity Bak B (2) PurityBak p£(7) Radio Corpof A. Radio C pf (315) Reading (15) Reading 1st (2 Reading 2d (2) Real SilkHos(4). Real Silk pt (7). Reld Ice Crm(3). Rem-Rand $1,60. Rep Ir & Stl (4). Reynolds Spngs. Rey Tobac B (5) Robt Reis & Co. . Robt Reis 1st pf. Rossia Ins (6).. RoyalD(al.33%) Safety Cable (4) St Jos Lead (13) StL&SanFr 183 St L Southwest. St L Swn pf (5).. Savage Arms, Schulte (31) Seabd Air Line Seab Air L pt. Seagrave (el.20). Sears-R (n2%) Seneca Coper.... Shattuck F G (2) Shell Un (1.40).. Shuber The (5).. Simmons (2) Simms Pete. 104% 118% 39 T4 28% Sloss-Shef (6). . SPorto R Sug(2) South Por pf(8). South Calif Ed., South Dairies A. Sou Dairles B... South Pac (6). Southern Ry (7). South Ry pf (5). Spaulding pf (7) Spicer Mfg...... SAG&E (3%). StdG & Epf (4). 3L 31% 31 31%|Sea Mill (5). 6% 76% T6% 76% | StaoilCal(12% ). 1% 114 11% 11% | Std OIINJI(t1%). 110 110% 109% 110% | Std OIINY(1.60). 31 38% 89 38% 37 |Stewart-War(6) 70% 22 22 22| Strom Car (2)... 38% 1221 | Studebaker (5).. 56% 65 674 65 67 | Submarine Boat. 41 48% 48% 48Y 48% | SuperiorOil..... 4 o Soib B4 5% | melautogra (60c) 14 5% Gon 5o o | Tenn Copper (1), 8% 121 121 121 121 Texas Corpn (3). 49% Tex Gulf S t4%. 69 40% 0% 39% 40 |meyg Pacific 91 s 18 | TexPcao(sic). 14 o Tex Land Trstn 27% 160° 150" 1aon (28% | Thatcher Mfg... 19 % 149% | The Fair (2.40). 331 25 26% 24% 25% | Thirg Avenue... 33 85% 85% 84% B84l | Tidew Aso (600). 161 90 90 90 90 |TIAWASOfIpf(§) 87% 109% 109% 109% 109% | Tide Wat O (80c) 23% 27 27 27 27 |Timken (15).... 120% 100% 100% 99 99% | Tobac Prod (7). 100 106% 1083 1064 106% | Transcont OIl... 8 206 204 305 i2L | Underwood (4).. 551 23% 25% 94w Loy | Un Bag &Paper. 45 37 srm oyt 20, |UnionCarb (6).. 138% 1% Tene e aa%| UnionOn (12%) 25 80 83° s 35 |Union Pac (10). 190% 8T% 67% 07% aay | Union Tank (5). 110% 4% 445 “,/‘ “,; Utd Cigar Stores 36% 56% 56% 55 55‘ Utd Cig St pf (7) 105% 470 G 55 5% iUnitea Drug 9) 171 30% 30% S v | Utd Drelst 3% 60 16% 164 18% joi | Utd Frult(153), 138% 35% 369 dom so|Uta Paperboara. 18 41 4 489 aew|USCIP&F (10) 200 I8 US Distributing 18% e 108 118%| U s Digtr pe(7).. 92 2% 2% 206 24| GS Deather wi. 170 H z 0 USLeather A... 38% d e a uw | GeL TR S % 903 | S Leats T e ealty (4).. 64% 104 US Rubber..... 55% 28 ‘oat 1% 0 lusRubiscidy. 98 3% A % o |USSmelt (3%). 4ln oo % e |USSmope 318). sow 18 o S 844) ysStes (). 150 108 108 1079 107 | U S Steel pf (7). 135 55% 6% 66U 6oy | UNi Pl Ist pe(8) 101 104% 10413 108% 1083 | Uni Pive (12%). 27 104 104 108% 103 | (e2). 31 7% 8% 7% 77% | Vanadium (3)... 54 T% T4 7% 7%|VanRaalte 2% 2% 2% 255 Van Raalt 1 T% % 6% 7 | VickChem (4). 20% 20% 29 29 | Victor Tlk Mch, 20% 27% 26% 27 | Victorcv pf (6) 62 65 61% 65 |Victorprpf (1) 103% 104 103% 104 | Va-Caro Chem.. 46% 46% 46 46 | Va-Car Ch 6% pt 24% 24% 28 24 |Va-Car Chpf (D) .| valrcacors). 5 93 934 91% 92w 34% 3a% 34% 3an | Vivadou (3. 88 88 88 88 ulcan Detin 141% 143% 141 142 | Wabash........ 46 46% 45% 46 |WabashpfA (5) 62% 62% 61% 62 fi 28% 28% 28% 234 | Waldort (1% 41 4% 40% 43| Walworth (1.20) 27% 21% 26% 26%| Ward Baking B. 88 8 | Ward Bak pt (7) 128 | Warner PicA. .. 25% 25% 25 25 |Warner-Quin(2) 1% 1% 1% 1% | Warren Bros (4) 255 265 255 262 | WarF&Pipe Cor. Web & Heil.. ... 8 131% 6 132 T 130% 6 130% 61% 62% 61% 62% % 72 Web&Hell p£(7). 103% W Penn EI pf (7) 111 ‘West P Po (6)... 107% West Maryland. 65% West Md 24 pf.. 65% West Pacific..... 39% l 4 1004 107 78% 391 26% 67 PRICES ARE FIRM ON EXCHANGE HERE Dealings Fairly Broad Today. Continental Trust Shares Are Active. BY EDWARD C. STONE. Trading was firm and fairly broad on the Washington Stock Exchange today. Capital Traction again sold at 106. Sixty-five shares of Continental Trust Co. stock again sold at 125, and 25 shares of National Savings & Trust came out at 515. Potousse Electric Power 6 per cent preferred sold at 109%; and the 53 per cent preferred registered 102%. Washington Gas Light stock changed hands at 76%, while Federal Ameri- can Co. common opened at 37! and closed with a 50-share sale at 38. Both type stocks appeared on the board, three shares of Mergenthaler selling at 109, while Lanston opened at 1003, advanced to 100%, and closed at 101. There was but one bond transaction, ‘Wardman Park Hotel 5128 moving at 96%. Nickel Plate Earnings Jump. ‘Wall Street statistics show that the Van Sweringen group of railroads, in- ‘[ cluding the Chesapeake & Ohio, Erie, Pere Marquette, “Nickel Plate,” and Hocking Valley had larger gross and net earnings for the first seveg months this year than the record réSults for the same period of 1926. Gross of $217,000,000 was a gain of 2.8 per cent and net operating income of about $41,962,000 was up 5 per cent. This is in contrast with the showing of all class 1 carriers for the first seven months of 1927, indicating a decrease of about 10 per cent in net operating income. The *Nickel Plate” was the only one in the Van Sweringen group | Des with lower gross, and all had higher net except that road and the Pere Marquette. Bank Now Eleven Years Old. ‘The directors of the Prince Georges Bank of Hyattsville and Mount Rai- nier have just transferred $20,000 from undivided proftts to surplus. This gives the bank, which is now 11 years old, a surplus fund of $120,000, or double its capital. The Prince Georges Bank has assets of more than $2,000,000, according to its last condi- tion report. The present officials are: J. Enos Ray, president; T. Howard Duckett, N. G. Dudrow and Perry Boswell, vice presidents; T. M. Jones. cashier. The directors include John H. Beall, Edgar H. Bondurant, Perry Boswell, T. Howard Duckett, N. G. Dudrow, Henry A. Friday, George Furman, W. Allen Griffith, Summer- field D. Hall, T. M, Jones, Dr. Vernon Chy J. Lohr, Harry W. McNamee, Oliver | Chi Metzerott, T. B. Middleton, J. Enos Ray, Henry . Roome, J. Chéw Sheriff, Benjamin R. Sherwood, Dr. Thomas | Del B. Symons and Dr. Hillary T. Willis. Heard in Financial District. B. Gynn Dent, one of the assistant cashiers of the Riggs Natlonal Bank, has returned from a month’s vacation passed in the Valley of Virginia, spend- ing much of the time at Orknmey Springs. Robert C. Jones, manager of the stock department of G. M. P. Murphy | § & Co., is spending his vacation motor- ing in Canada. B. 0. Harper of Crane, Parris & Co. has returned to his desk after his annual vacation, which he spent in Washington and points in nearby Maryland. = . Robert B. Flynn, has been admitted as a general partner in the firm of Fenner & Beane and will have charge of the orders on the floor of the New York Stock Exchange. has an office in the Willard. ‘W. W. Keck, assistant treasurer of the American Security & Trust Co., |5 has returned to the bank from a|Af month’s vacation spent motoring in Canada. Frank P. Morse, manager of the ‘Washington office of J. & W. Seligman & Co., is most enthusiastic over his two-month trip to Europe. He was back at his desk today.. President Julius I. Peyser of the Security Savings & Commercial Bank reports a most enjoyable session of the American Bar ‘Association at Buf- falo. Mr. Peyser served on the spe- cial committee on American citizen- ship and is a member of the section in chargs of legal education and ad- mittance to the bar. Railroad Officials Promoted. George L. Oliver, formerly city passenger agent in Washington for the Atlantic Coast Line Railway, has been promoted from district passsnger agent of the Florida East Coast Rail- way, at Miami, to assistant general passenger agent at St. Augustine. He has been succeeded at Miami by Lynn J. Irvin, who also served as a passen- ger agent in Washington for some time while connected with the Atlantic Coast Line. METALS ARE STEADY. NEW YORK, September 8 (#).— Sales of all major non-ferrous metals were only in fair volume during the week, and excepting lead, prices held on a steady basis, Engineering and Mining Journal reports. A much bet- ter volume of business is expected to be booked in the coming week, partic- | Am Cy ularly in copper. Most of the recent orders for copper have been for prompt delivery, an unusual condition. West Pac pf (6). 70% 70% 69% West Union (8). 161% 1617 161 WesthseAirB (7) 187 187% 186% Westinghse (4). 89% 87 Weston Electric. 13 13 White Mot (4).. 39% ‘White Rock (2). 36% White Sew M (4) 46% White Sew Mach 56% Willys-Overland 17 Willys Od pf (7) 92% ‘Wilson Copf A.. 22% Wilson & Co pf.. 71 Woolworth (5).. Wright Aero (1) Wrigley (13%).. Yale&Towne(5). Yellow Truck. .. Yel Tr&Co pf (7) YungstnS&T(5) . 88% 87% Hourly Sales on N. Y. Market. 1la.m. 617,800 1p.m.. 1,617,600 12m. 1,154,900 2 p.m... 2,032,800 ividend rates 2a given in the above table "‘lhe annunl cash payments vased on the st ouarterly or valf vearly declarations. 691 39% 36% 47 55% 5% ~ 55% 84 84 33% 32% 91 91 Unless other'wisa noted, extra of speci: dends are .not_includes avie in nznn?mon I‘lI v Plus 2/!0 fn Gk, APAT this” yent—no_ cepular rate: rly. e 1ilis 8% In stoé PATOR® eics™/58 S1°a share in special T Plus jnes A" stock. 0 Partly stock. s 1 Plus one-haif of ccmmon stock. o POTATO MARKET STEADY. CHICAGO, September 8 (#).— Potatoes—Receipts 98 cars, on track 196, total U. S. shipments, 665 cars; trading fair, market steady; Wisconsin sacked Irish Cobblers, 1.90a2.10; Minne- (U l';o’fnh cco C sota sacked early Ohio's, 1.40a1.45; Idaho sacked rurals, 1.90a2.00; sacked russets, 2.25a2.35. BACK DIVIDEND VOTED. NEW _YORK, September 8 (#).— Vulcan Detinning Co. declared a back dividend of $2 a share on the preferred stock and regular quarterly dividends of 81.12&: the preferred and preferred SEPTE IBER This company | ¥ 1927.. COTTONUPLIMIT FORDAY'S TRADING Soars 200 Points on Small Yield Government Crop Re- port Issued at Noon. By the Associated Press. NEW YORK, September 8.—A very excited advance followed publication today of the Government cotton re- port indicating the crop at 12,692,000 bales, the market advancing to 24.72 for December and 25.07 for May con- tracts. The advance was checked at $10 a bale by the operation of the maximum fluctuation rule at these figures, and there were reactions of about 90 to 95 points from the best under realizing, but buying inspired by the small crop figures continued, and the midafter- noon market was within 30 or 40 points of the best. Reports of unfavorable weather and continued boll weevil depredations had prepared the market somewhat for the lower estimate. Consequently the Government report caused no such sensation as that for August, which estimated at 13,492,000 bales a crop generally expectéd to approximate 15,- 000,000 bales, and sent prices up $15 a bale in two days. All except July contracts took part in today's advance, which was checked by the opecation of the maximum fluctuation rule of 24.72 cents a pound for December contracts. The new high prices attracted fairly heavy realizing and as this evidently was sufficient to supply immediate demands, there were reactions of 75 to 90 points from the best. The crop indicated in today's Gov- ernment report compares with a yield of 17,977,000 bales last year and of 16,- 103,679 bales in 1924. October CALL MONEY STEADY. NEW YORK, September 8 (4).—Call money steady; all loans 3%;; closing bid, 315: time loans steady; mixed col- six months, 4%; per, 3%ad, SHORT-TERM SECURITIES, (Reported by J. & W. Seligman & Co.) prime mercantile pa- offer. Amer. Tel, & Tel. C; % 100 ‘American Thread C 11y 103t Anaconda Conper Gs 19 0103 Associated Oil 6s 1935 % 1 Baltimore & Ohio 1084 . Co % N3y * T C 0014 038 00 o S 322333332823z8 WREFPPFAERIE FFFEEE FERERA Sinelair Cr. 0il South. Pac. R. it 00 3 2 061 Erie Rwy. Co. 78 19: hiid Gen'l Petroleum Cor. bs o1 Goodvear T. & R. 5 192 2075 Hersney Choc; Co. B3 02 Humble Ol 83e 1032, 02 102 ass. Gas Co. Blas 194 0 04 Now York Tel. 6a 1941 0015 110 Oregon Short Line 4s 1030.. 094 99 Pure 0il Co. 6 3; 03 03 00 00 00, 100 3% Std. Gil of N. 104 04 Std. Oil of N 3 01 St 1. Tr. . Ry. a0 Swift & Co. ‘Bs 1932 100 Union Qil of Calit. 58 k7 a8 Union Pac. R. R, Co. s 1928 1014 101 "n. Lt. & Pow, Co. 5%s 1028 1003 100 7. 'S, Rubber 7 108 105 S. Smelting Co. 5148 10815 30 Wheeling Steel C. 5148 1948. 100% 10 FOREIGN EXCHANGE. [{ i ed W. B, Hibl ) ouittons Yo N:zdnll Semnb: :nfi:n id value, today. London. pound. ... " $SB5 $4.40% Mentreal. dollar. 1.00 Y ris, franc. NEW YORK, Septefhber 8 (#).— Foreign exchanges steady; quotations in cents: Great Britain, demand, 485%; cables, 486%; 60-day bills on banks, 482. France, demand, 3.91%; cables, 3.921%. Italy, demand, 5.431;; cables, e ayable | Ne Sloci’ o Pays 5.43%. Demand — Belgium, 13.91; Ger- many, 23.78; Holland, 40.05; Norway, 6.3t Sweden, - 26.84%: Denmark, Switzerland, 19.28%: Spain, .86; Greece, 1.32; Poland, 11.20; Czechoslovakia, 2.96%; Jugoslavia, 1.76; Austria, 14.08; Rumania, .61%; Argentina, 42.75; Brazil, 11.90: Tokio, ;zblzvx; Shanghai, 61.12%; Montreal, TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.) —-—Noon.: 3 DIVIDENDS.. Pe- Pay- Hdre"of Alf;f'!,m ;:V 7 o Snla"i'fi l'il’ld.(:!{lz.lll:«\rll, " S Do_$6 f £ 3 F!g 1 Sep 1 Sep 15 1 Sep 15 1 Sep 15 1 Sep 15 Oct 1 Sep 15 i b it 1 o 1 16 8 1 Sep 13 v 1 Oct 10 o b g 81w Am Wholesale pt.1%8 o, Oct 1 5!{‘: 20 Armstron 15 % Oct 1 Sep 15 Do _pf Oct 1 Sep 15 Asso Lat .26¢ Sep 15 Sep 1 Bankers Trast SaR1T D 18 ch Creek R] 0c Oct®:1 Sep 15 Butte & Sup B0 Sep 30 Sep 16 Canadian G E % % Oct 1 Sep 15 Certain-teed Pre et ; Oct 1 Sep 17 Do 1st % % Oct 1 Sep 17 % Oct 1 Sep 17 s 0§ o 1%nid ’s o5 1 it 4:‘; Oct 15 Sep 20 k) .50 SA Oct 1 Sep 15 5 Oct 1 Sep 6 it 3 8 0 1308 f.. . .‘. . b 5 18 'i:g 75 1 S Ga Pw 67 pf. 3150 1 Sep 16 Guaranty ‘Trust 4% 0 Se 106 Kavnee Co. 50e 1 S 20 “ ¥ ° “zt‘ Ex* Apr } Mar 24‘) e P g oo 1 A \ac Oct 1 Sep 17 25 Q Oct 1 Sep 17 0 g Nov 1 Oct 17 5 Nov 1 Oct 5 Oct 1 Sep 1 Se Racif ‘;'m & e nsurance. Baking P AR S S AR S B R ANRA 33 S S S8 1 it bt i3 't Oct Shrevep El qfior Oct Southeast P f L. Oct 20 Do, 7% b Oct "1 Se Do’ 6% p Oct 1 8 Do part pf Oct 1 Sterling Oil SA Oct 5 30 e, .. Ex Oct 5 30 Stromberg Oct 1 § 10 Oct 15 206 Oct 1 10 Oct 1 10 Snab Sp 18 & Oct 1 5 gov 1 ?fl ‘g et Sep ?DE& %fl' 17 ov 1 Oct 6 derat €55 a8 Sep 3 8ct 15 Sep 30 ‘The Spaniards introduced the home industry of embroldery making into the Philippines. oo latefal, 60 to 90 days, 3%a4; four to’ FINANCIA RAIL EARNINGS DROP. $84,383,388 Total for July, 1927, Against $116,974,568 Last Year. Net operating railway income of class one railroads in July amounted to 84,383,388, which was at an annual rate of return to 3.95 per cent on their property investment, according to re- ports filed by the carriers with the Bureau of Rallway Economics, which they maintain here. This compared with $116,974,568, or 5.62 per cent, in July, 1926. The compilation was based on re- ports from 183 roads with a 238,670 total mileage, —_—— The first horses date 45,000,000 years. SR 6 1,9 First Deed of Trust 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 Apartment Home 1321 Connecticut Ave. Money g 0 et Joseph 1. 1010 Vermont Ave. Capital. properties Appraisal specialists. The New York Life Insurance Company Offers to Make First Mortgage Loans On Improved Real Estate in the District of Columbia and Nearby Suburbs in Montgomery County, Md, for 3, 5 or 10 year terms on your 5%% . Apply RANDALL H. HaGNER &. COMPANY MORTGAGE LOAN CORRESPONDENT Telephone Main 9700 . REAL ESTATE LOANS 5Y, % FRED T. NESBIT 9309 Mortgage Notes - —are secured on Improved Real Estate in the Natlon's The loans on these are ¢nade only after rigid analysis by our Committée (SHANNON & LUCHY)| 1435 K St. NW. Office Building usiness Property A Third of a Century’s Experience Main 2100 | AR —the only thing" necég sary is resources suffi cient to buy it. But to. make an apartment pay’ this calls for qualification’ and ability that nothing short of experience can: | make sure. That’s why so many Washington owners depend on us to ‘keep their apartments at maximum power. B. F. SAUL CO. .; 925 15th St. N.Wi] of w iigid AT 7 Jnem s earning. 113 Years Old earned for you. a year. 1t Is Your P/easure . —Twice A Year HERE'S a certain satisfaction to open up an envelope and find in it an interest check that your money has It’s a satisfaction you can’t get from a pay-envelope or a salary- check, for you are receiving income from money which is silently working for you and increasing your wages without any effort or risk on your part. If you own First Mortgage Notes pur- chased through Swartzell, Rheem & Hen- sey Company it is your pleasure to re- ceive your interest checks regularly twice OLDEST NATIONAL BANK IN DISTRICT OF.CO The Factors That Influence —so many depositors in favor of The Metro | politan, are its century-long business record; | its prestige as the dean of local national banks and its reputation for efficient Sefv ice. We are ready to serve YOU. Travelers’ Checks and Letters of Credit National Metropolitan Bank 15th St., Opposite U. S. Treasury These notes are available in denomina- tions of $100, $200, $500 and $1,000. Their yield is now 6%—and in fifty-eight years no investor has ever suffered loss. Swarizell, Rheem & Hensey Co, m-l'{u{o u’fii}‘&w 58 Years Without Loss to An Invul"_\ 113 Years Old