Evening Star Newspaper, September 23, 1927, Page 15

N ANCIAL.’ HIGH-GRADE BOND | [oxew o BONDS oce ] Received by Private Wire Direct to The Star Offica. ‘DEMAND IS STEADY Oil Producing and Refining © Issues Attractive—Low ~_ Yields Are Reported. ! BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, September 23.—There was not so much activity in the bond market today, but the demand for high-grade issues continued, with . Quite a large number of them selling at new high prices. The general do- mestic bond avesrage was at the high- est of the year and above that prevail- ing at any time since the war. Legal rails, the primest industrials and legal public utilities were all wanted by institutions in spite of the fact that the yield on them is drop- ping down to an average under 43 per cent. Atchison general 4s, at a new high today, were quoted on a 4.5 basis. Baltimore & Ohio 4s sold to yield 4.25 per cent, Union Pacific 4s returned only 4.20 per cent, as did Buflington general 4s. U. S. Steel sinking fund 5s at 109% give the holder 4.40 per cent. Bell Telephone of Pennsylvania 5s above 107 are on slightly less than = 41; per cent basis. Yields Are Low. In-order to obtain 4% per cent or better on good rails the investor must now go into the non-legal class. This accounts for the recent strength in such fssues as Frisco prior lien 4s, which at_89 returned: 4.80 per cent. Atchison “I'ranscontinental division 4s at 921 with a fairly long maturity offer a 4.50 basis to the buyer, or about the same as that present avail- able on the new railroad 413 and 4% per cent coupon issues, Kansas City Southern 5s, at a new high price for the year, net 4.90 per cent. Reflecting the improvement in Au- gust earnings, the 61 per cent bonds of the Soo Line moved up to 102, com- pared with a price of 9714 some months ago when the monthly statements of the company were of a most discourag- ing sort. There was a curious move- ment in Spokane International b5s. ‘These bonds had been working up and down rather rapidly of late and yes- terday jumped from 88 to 90%. To- day they were off to about 84. Erie convertible D's were slightly higher. ‘They.will lose their convertible value in another week. Oil Bonds Attractive. On account of the high income re- turn which they offer, there has been an atcumulation racently of the bonds oil producing and refining com- UNITED STATES. (Sales are n $1.000.) Sales. High. Low. Close. Lib3%s... 50 10117 10113 101 14 Lib1st4%s 27 10311 1039 10311, Lib2d 43%s. 88 10017 10015 100 17 Lib3d4y%s. 83 101 100 30 100 31 Libdth 4%s 19 104 103 30 103 30 1106 106 106 27 1091 1091 1091 58 1144 11329 1144 FOREIGN. Sales. High. Low. Close. Argentine 6sJu 59. 13 99% 99% 99% Al 1 99% 994 99y 19 99% 99% 99% 9 99% 99y 99Y% 30 8 97% 98 82 98 97% 9T 13 103 102% 102% US4¢Ksb2, et Australia 5s 1955. Australia 681957, Austria 7s.... glnk of Chile 6% 21 107% 107% 107% . 49 105 104% 1047% 5 114% 114% 114% 2 110% 110% 110% 9104 104 104 1 99% 99% 36 934 931% 11 98 97% 97% 5103 103 103 Canada 5s 1931 3 102% 102% 102% Canada 58 1952.... 3 105% 106% 105% Canada 5%s1929.. 13 102} 102 102 .+ 32 101% 101% 101% Chile 8s 1941 + 2 108% 108% 108% Chinese Gov Ry 5s. 1 25% 25% 25% Con Pow JapanT7s. 1 98% 98% 98'% Copenhagen 5%s.. 11 101 101 100% Cuba 5%s 12 101% 101% 101% Czecho 7% 1 105% 105% 1059 Czecho 8s1951.. 11 108% 10T% 107% Czecho 8s52...... 2 108% 108 108% Danish Munic8s A. 1 111% 111% 111% Danish Munic8sB 1 111% 111% 111% Denmark 6s. .. 1105 106 105 DEI5%sNov53.. 1 103% 103% 103% Dutch East16s47. 11056 105 105 Finlands£6s45... 1 96% 96% 96% Finland 7s. 1 100% 100% 100% 31 106% 106% 1063 58 114% 114% 114% « 14 111 110% 111 GermanEIP6%s.. 7 97% 974w 97Tk German 7s........ 45 107 106% 106% German Agr Bnk 7s 2 101% 101% 101% Ger Gen Elec7s... 1104 104 104 Greek 7s. 8 96% 96% 9674 Haiti 6s. see 2 99% 99% Y9N Holland-Amer 6s. 2103 103 103 Hungary 7%s. 9 103 102% 103 Italy 7s. . eseses 86 96% 96% 96% Italy Pub 7s. 8 95% 95% 95% Japanese4s....... 4 62 92 92 Japanese 6 4. . 19 101% 101% 101% Mexico 43 10 asntd. 40 24% 24% 24% Montevideo 7 2 103% 1038% 103% Belgium 7sct. Belglum 7%s. Belgium 8s. Bollvia 8s. “ 934 Sales. High. Low. Close. 15 108% 108 108% 26 103 1027 102% 1124 1117% 111% 96% 93% 96Y% 96% 96% 96% 9% 9TH 9T 97% 9TH 9TH 114% 114% 86% 99% 102% O1stbsct... O88...0. Orfimp 6s. B & O PLEWY 4s 3 Bklyn Manhat 6s.. 13 Buft R & Pitt 4%s. 1 i Can Nat 438 54 Canad North 7 Canad Pac deb 4 Can Pac 4%s 46 Cent of Ga 6s. Central Paciflc 4s. . Cent Pac 1st 68 90.. 1 Chesa Corp 5s wi.. 39 Ches & O cv 4%s. .. 20 Ches & O gn 43%s.. 10 Chi & Alton 3%s... 15 ChiB&Qgen4s53 71 97% CB&Q4%s77B.. 14 101 CB&Q-IlI3%s 91 CB&Q-Ilidi4s... 97% Chi& E Il gn 5851 68 ChiGt W 48 59.... 13 C M&StP 4525 ofa. 11 CM&StP deb 4scfs 95 CM&SPcv4 4s32cts 30 CM&SPrf4%sct.. 5 CM&SP cv 5s ofs 14 33 Chi NW 438 2087.. 75 101% Chi & NW 6%s.... 1 11214 4 1106 100% 112% 106 82 9415 Chi T H inc 6s 60.. Chi Un Sta 43%s. Chi Union Sta bs Chi Union Sta bs Chi & W Ind cn 48 C& W15%s62. CCC&StLrfgsA. 102% 3 109% Colo & Sou 4%s... Cuba R R bs. Cuba RR 73s Del & Hud 1st rf 4s Del & Hud cv 58 36. Del & Hud 7s 20... Den & Rio G en 4s. D & Rio G imp 5s D Rio G West 55 Det United 435s... Erie 1st cons 4s.... Erjegen 4s.. Erieconv 4s A. onv 4s B., Erle conv 4s D. Erlecvt 58 67 wi Erieconext 7s.... Erie Genessee R 6s FlaEC5s74.., Gr Trunk stdb 109% 957% 185 Gt Nor4%s 76 D. Great North 5 Gr Nor gen 7 Hud & Man ref 5s.. 67 100% Netherlands 6s54. 2 103 103 103 Netherlands 6s 72.. 2 106% 106% 106% Nord 6%s......... 13 100% 100% 100% Norway 5%s . 3102 102 102 Norway 6s1943.... 1103 103 103 Norway 6s1944... 1 103% 108% 103% Norway 6s 1952. 5 103% 103 103% Orient Devdebfs.. 9 96% 964 954 nies. It is felt that although divj- dens of some of the corporations may not be paid again for some time. there| is abundant margin of safety for their bonds. Those who desire high income are willing to take the slight specu- lative chance that faces them. “In the. foreign list there was a better tone to Australian and Argen- tine issues, a firm tendency in Dutch East Indies 6s, in the Italian, Japa- nese, Peruvian and German groups and little trading comparatively in the Mexican issues. French 7s were heavy d at one time 1% points un- der their recent hi United- ‘States were irregular. The 3%s reacted from Thursday’s best price since their issus, but Treasury 3%s advanced about a quarter. New Bond Issues :NEW yoxxw i _lsmember 2t” (_?‘p’s- 1).—An additior 1762, % Atlantic City Elcéggbo. l:rlt x d Tef n&:fi mortgage § per cent series, April 1, 1956, is being offered to- dhy by Bdward B. Smith & Co., Tuck- Anthony & Co. and Bonbright & Jo. The bonds are priced at 100 to Yield 5 per cent. { pa— A.C. Allyn & Co. have purchased and will offer shortly a new issue of $1,000.000 Foote Bros. Gear & Machine Co., Chicago, 10-year 6 per cent gold debentures. CHICAGO LIVE STOCK MARKET “CHICAGO, S!El‘ltamlber Zl“lt(:.‘Yll)M States Department of Agriculture).— Hogs—Recelipts, 10,000 head; better grades, 230 pounds down, 10 to 15 higher; packing sows" fairly active, sharing advance; butchers, 240 pounds up, scarce but draggy; top, 11.70; bulk good 170 to 225 pounds; 1,100 to 225 pounds, 11.00 to 11.65; few sales of butchers, 250 to 300 pounds, 10.50 to 11.15; most packing sows, 9.60 to 9.85; heavies, down, 9.15; best light-weights, 10.00; bulk pigs, 9.00 to 10.00; these and lightlights, 25 higher; prices of heavy hogs are 10.00 to 11.35; medium, 10.90 to 11.70; light, 10.75 to 11.65: light-light, 9.50 to 11.35; packing sows, 9.00 to 10.00, and slaughter pigs, 8.50 to 10.50. Cattle—Receipts, 2,000 head; slow, steady trade on most classes; no choice offerings here; bulk steers, 12.00, downward to 9.00; stale offer- ings predominated she-stock in meager supply, with demand broadest for cut- ter and common cows; bulls scarce; most sausage offerings, 6.75 to 7.15; vealers, 16.50 1o 17.00, packers stop- ping at 17.00. Sheep—Receipts, 16,016 head: fairly nctive; generally steady with yester- day; e-stock on fat native lambs, 15 lower; bulk natives light, 13.75, and few 14.00; bulk good to choice range Jambs, 14.25 to 14.35; few good Wyo- ming down to 13.50; bulk fat ewes, 5.80 to 6.25; choice lights, eligible, up 10’ §:50; heavy, 4.50 to 5.00; early sales good, medium-weight lambs, 12.00a 12,76; heavies down to 12.50. Glue_Co pf.. st pf.87 gt iy (r Aot Adles. | 3 e 1o £ 3 R S8 S o n S oSS St % 33 1 3892888238 T @2 ® A s LS00k g 2% B ries - .75 1.1 % E .Y P 3 S 20888 9 S % 2 SGEZ e 2 Sep 20 Qct 18 Sep 24 i e . ud d 'de M pf.$1 T8 Bodus clco”: H 2! Waltham W pr pf.81.7 . GERMAN BONDS AND STOCKS. By Special Leased Wire to The Star. NEW YORK, September 23.— (Quoted In dollare per million marks,) 5. Bodhs BI00 Gy In) Bs 1914 . B0 75 . ;‘{e;mg:u:wl':- 1919...... ©0.00 70.00 {Quoted indollars ver {housand marks.) B i0i5 300 “H0 re-w. “eo 4.75 t‘?ll. 3%e ELQG FF" & American: Line Hamb & Arman Liovd 4 %8 Nortn German Lloy: r Consols 3 )’Iu."‘gl tt ”fi e -war Gh(‘fl‘::r G Flect ot ommers And Privat Bank. . 16" Farben Paris-Ly-Med 6s.. 56 Y6% 96 Paris-Ly-Med 7s. 6 103 102% 103 ParisOrleans 7s... 4 101% 101% 101% Peru 7%s. 1105 106 105 Peru 8s 1 108% 108% 108 Poland 6s 40. Poland 8s. Porto Ale; Rhinelbe Un 7s Rio de Jan 8s 1946. Riode Jan 8s 47, Rome 61 Sao Paulo Sao Paulo 1950 Saxon (PW) 7s, Selne 7. 100% 1 105% 105% 105% 6 113% 113% 113% 4 104% 104% 104% 17 105‘/5 104% 105% Soissons s Sweden 5 4 Sweden 6s Swiss 5% s 1948.., Swiss Confed 8s... 11 114 113% 114 Toho Elec Pow 7s.. 1 99 99 99 Tokio §s... eses 28 78 78 78 Utd Kingm 5%s37 13 105% 105% 105% Utd Steam Corp 6s. 95% 95% 95% ohama §: + 4 95 95 95 MISCELLANEOUS. ¥ Rubber 1 107% 107% 107%. 19 102'% 102% 102% 5 108% 108% 108% - 26 104% 104% 104%: 3 104% 104% 104% 21 104% 104% 104% 3 104% 104% 104% AmT&Tecltr Am T & Tcl tr bs. Am T & T sf 5s. Am T & T deb 5%s. 77 108% Am Water Wks 5s. Am Writing Pap 6s Anaconda 1st 6s.. . Anaconda cv db 7s. AndesCop deb 7843 Armour&Co 4% Armour Del 5% Atlantic Refin §s.. 1047% 106 ° 108% 108% 6 100% 100% 100% 27 92% 91% 924 28 105 104% 105 10 109% 109 109% 15 107% 106% 107% 6 90% 90% 90y 9 89% 89% 89y 4 101% 101% 101% Barnsdall 6s 1940. . Bell Tel Pa 5s B.., Bell Tel Pa §sC. Beth Steel p m 5s.. Beth Steel rf 5s.... Beth Steel 5%s553. Beth Steel 6s. Brier HSt1st 5%s Bklyn Ed gen 5s. BklynUnion 5%s. . Chile Copper &s 10 98%. 98 98 6 105% 105% 105% 7 107% 107% 107% 2 100% 100% 100% 3 10214 102% 102% 6102 101% 101% 25 105 104% 104% 104% 105 7 105% 105% 105% 20 225 224% 224% 26 4% 94% 94% 2 104% 104% 104% 4 85 84w « 6 106% 106% 106% Cuba Canecv8s.... 2 98% 9 Cuban Am Sug 8s.. 2 108% 108% 108% Dodge 6s. . + 19 87% 87% 87 Donner Steel 7s.... 4 95% 95% 95l East Cuba Sug 7%s . 1 106% 106% 106% Goolirich 6% Goodyear 5s 5% 95 Goodyear 85 1941.. Hershey 6%s 7 102% 102% 102% 99% 99% 99% 1 102% 102% 102% 2 105 105 105 102% 102% + 3100% 100 100 » 55 104% 1043 104% 1 o 8°104% 104 104% Int Tel&Teleg4%s 70 94% 94% 94% KanCP&L6s A 52. 3 105% 105% 105% KanG&E16s52.. 7 106% 106% 106Y% Kelly-Spring 8 16 109% 109 109 Laclede G 5% 16 105 105 105 Liggett & Myer: 2 103% 103% 103% Liggett & Myers 7s 4 123% 128% 123% Lorillard (P) 7s... 4 118 118 118 LouisvG & E 58 52. 10 103% 103% 103% Mid-Con 63s 40 2 104% 104% 104% Midvale Steel 5s... 2 100% 100% 100% Mor's&Colst4%s 5 85% B85% 85% NYGELH&P4s. 1 95% 95% 95% N Y Tel 4%s.. . 3 100% 100% 100% NY Tel 6s41. 2 109% 109% 109% N Y Tel 68 49 7 110% 110% 110% North Am Edis §s. 117 100% 100 100% NorOhioT&L6s. 9 99% 99 994 Nor States Pow 6s. 1 105% 105% 105% Pac Gas & El b, 4 103% 103% 103% Pan-Amer Pef 2 102% 102% 102% Phila Co 5%s8 38 2 102% 102% 102% Phila&RAC& I 1 100% 100% 100% PhilaCorf 6s A 1104 104 104 Plerce-Arrow 8 3 96 95% 95% Public Service. 7 107 - 106% 106% P Ser Gas 5%8s 59 3 106 105% 106 Punta Alegre7s... 1 106% 106% 108% Remington Arms6s 5 97% 97% 97T% Sinclair Oil 6%s, 6 96% 96 96 Sinclair Oil 7s. 7 100 99% 99% Sin Crude O 26 100% 100% 100% 8in Pipe Line §s. 4 93% 93% 93% Skelly Ol 5%s..,. 12 95% 95 95 So Por Rico Sug. 1s. 2 110 109% 109% Standard Oil NJ 5s 5 103%°103% 108% 5 107% 107 107 3 108% 108% 108% 3 107% 107% 107% 38 94y 94 94 104% 104% 5 104% 27 109% 109 109% 9 100% 100% 100% 100 100 10 100 21 91 90% 91 4 107% 107% 107% 2 108% 103% 103% 5112 112 112 13 102% 102% 102% 6 1015 101% 101% ‘Winchester A 7% 2 106% 106% 106% Youngstn S&T 6s.. 21 106% 105% 105% RAILROAD. Atchison ad) 4s 2 U S Rub 1st rf USRub7%s U S Steel sf Utah Pow & Lt Vertientes Sug s Warner Sug 78 39 Warner Sug 7s 41 West Elec 5: Westn Union N Willys-Ov 6%s 33. Wilson & Co 1st 6s. 91 91 9674 98%% 93% Atlantic C L 1st 4s. AtlanticCLecl 4s.. AtlanC L 4%s 64 B & O Gold Darmat e Heyden Chemical . . “Austrian A E G (Gon Eiec). 115 100% 92% 96% 0% 101% 1T T6% 98% 9% 81 94% 6% 101% 92Y% 99% 100% 98 103% Hud & Manaj5s.., 11 92% 111 Cent ref 4s. Il Cent 4s 53 Il Cent 4% s 66 Int Rapid Tran b Int Rap Tr §s stpd. Int Rap Tran7s... 3 981 Int & G Norad 6s.. 28 971 IntRysC A 5s73., 13 81 Kan City Ft § 4s Kansas City S 3s Kansas City S §s. 24 T 17 6% Leh Valen 43503, Lehigh Val 53 2003, Louis&Nash uni 4s. L &N 41482003 Louis & Nash 5; 7L 99% 102 89% 97% 894% 102 89% 89% 106% 106% 104% 104% « 9103 103 103 % 100 Mo Pacificgen 4s.. 31 78 Mo Pac 5s F 77 »382 100% Nassau ERy 48 57, 25 N Y Cent 4s 98, gflg S;.g.l}!ld'b 4s..,. 3 98% rfim4%s13 8 NYCentri l‘l‘.- i NYChI&StL b3%8A. NYChi&StL 514 sB. New Hav deb 4s 56. New Hav deb 48 57. New Haved N Y Ont W 1st 4s.. N Y Rys 6s65..... NYRys6sA65... N Y-State Ry 4%s. Nor & S gen 55 54., 94% Northern Pac ¢s. .. 95% Northern Pacr 1 115% Ore Short L en 5 108% Ore Wash 1st 4; 9% Pennsyl con 4%s. 105 Pennsylgen43s. 102% Pennsylania gen 1% Pennsyl 6%s 112% Pennsyl gold 106% Pere Marg 1st 104% Port RL & P 68 42, 95% Port RL P 6s47... 101% RioG W 1st 4s 93 Rio G West cl 45 86% St L IM&S 45 29.,. 99% StLIM&SR&G4S. .. 95% StL&SF plisA. 89 StLé&SF prinbs, 102% StL&SF5%sD., StL&SFinc6s... StL&SFplésC,. StLSWist4s. ., StL S W oon 4s 32, SanA&ArnP4s.. Seab A Lref 4s.... eab A L ad) bs. .., % 100 49% 9% 9K 94w 98% 98Y% 102% 102% 108% 108% 1075 1074 1074 82! 5% 111% 81 17% 348 9 7 120% 120% 120% | Seab A L con 6 8B All Fla 6s35, Sou Pac 4s 29 Sou Pacific clt Sou Paclfic ref 4 Sou Ry 6s 58. . Southern Ry 6% TexArk FS 5%s 50. ‘Third Av ref 4s 60, Third Ave adj 5s. Union Pac st 4s Union Pac 1st rf 48 Unilon Paccv 6s. Virginia Ry 1st 5i VaRy& P & Wabash 1st 6s 1 104% 104% Wabash 5s 76 B... 31 102 101% West Maryland 4s. 10 86 85% Western Pacific 5. 2 99% 99% WisCengn4s49.. 5 85 84% 14 124y 28 106% 3 67T% 124% 106% 67% 614 97l 95% 101% 108% 100% 104% 102 CURTIS PUBLISHING EXTRA. NEW YORK, September 23 (#).— The Curtis Publishing Co. declared an extra dividend of 50 cents and the regular monthly dividend of 50 cents on the common stock, payable October 4 to stock of record September 22. The regular quarterly of $1.75 on the preferred also was authorized. o INCOME IS SMALLER. NEW YORK, September 23 (&).— The Southern Pacific's net operating income for August was $665,393 less than in August last year, totaling $5,646,335. Gross revenues were $44,649 larger. Net for the eight months was $29,540,893, a decrease of $1,373,340 compared with the same period last year, although gross showed an increase of $1,629,111. Temimer CALL MONEY STEADY. NEW YORK, September 23 (#).— Call money steady; all loans, 4; closing bid, 4; time loans steady, mixed co. lateral, 60-90 days, 4a4%; 4-6 month: 4%a4%. Prime mercantile paper, 3%ad. —e FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Closit Bid. Asked: y] % 103 23222283 5255 3 S5825255555s! £223338832228 VR BPITTEERET b it = NEW HIGHS SCORED N CURB DEALINGS Trade Lighter at Times. Some Selected Shares Climb " to Peaks for Year. BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star. NEW YORK, September 23.—The important changes on the Curb Ex- change today were recorded on the side of advancing prices, and not a few of the issues selected for leader- ship were carried to their highest prices. Trading, however, fell off in volume at intervals and there was no | ’rush to buy stocks indiscriminately. Included among the leaders was Bunkerhill and Sullivan Mining. At 118 it was at its best and 8 points above the previous final. Because of the high rate of earnings and substan- tial return offered share owners as a result of the liberal dividend policy adopted by the directorate, it was a prime favorite among mining issues. Completion of the purchase of the United Mercury Mines was announced recently, involving an expenditure of $1,500,000. This is expected to add sub- stantially to carnings in the future. On August 26 last an extra dividend of 50 cents a share was declared in addition to the regular monthly 25 cents. These were the same as dis- tributed on August 4. Alabama and Great Southern issues featured the railway group, going into new high ground at 154% and 155 for the common and preferred, respective- ly. Their strength was due more than anything else to the realization that they are in a category of high-grade railroad investment stocks and en- titled to a high prics level because of earnings. Swift & Co. at its highest since 1920 was moving forward in belated re- sponse to the better outlook for pack- ing companies. Around the current level it was selling on a basis to yield over 6 per cent. Recent accumula- tion of Curtis Publishing appeared to have been justified by the action of directors today in declaring an extra dividend of 50 cents along with the regular monthly disbursement of the same amount. . New high records were also reached by Gleasonite Products and Huyler of Delaware. Atlas Portland Cement gained over 3 points and special strength was noted in Gillette Safety Razor. Bancitaly selling ex the re- cent stock dividend opened at 104 and subsequently sold higher, against the previous closing of 116%. The oils were featured by an urgent demand for Imperial Oil of Canada, which was carried forward more than 8 points to a new high for the year, and Indiana Pipe Line, which reached a new top at 78. Philadelphia Electric featured the utilities in the late afternoon selling into new high ground. It was re- ported an agreement has been reached between the United Gas and Im- provement and the Philadelphia Electric directorate on a plan for con- solidation. It is expected the merger will be effected through an exchange of stock on the basis of two shares of Philadelphia Electric for one share of United Gas and Improvement. e WHEAT SCORES GAINS; CORN HAS SETBACK Unexpected Strength at Liverpool and Australian Drought News Have Bullish Effect. By the Associated Press. CHICAGO, September 23.—Unex- pected strength of quotations at Liver- pool, together with renewal of drought reports from Australia, led to a sharp early upturn today in the wheat prices here. TFailure of frost to develop over- night brought about general selling of corn. Starting at % to 13 advance, wheat contihued firm. Corn opened 1 to 1% off and subsequently under- went material further declines. Oats held steady. Provisions were irregu- Advices at hand today indicated that the wheat crop situation in Aus- tralia is critical. Except in the west- ern part of the commonwealth, rain is urgently needed. Unlooked for up- turns in Liverpool quotations today were also associated with word that more rain is wanted in Argentina and with estimates that 14,400,000 bushels of wheat in Germany and 2%.000.000 bushels of rye is unmill- able. Aside from the fact that predic- tions of widespread frost in the corn belt missed the mark almost com- pletely, temperatures today were re- ported as 12 to 15 degrees warmer in some places than yesterday. The forecast, too, was for gener- al rising temperatures and for wel- come showers. Ry September December MIDLAND STEEL PRODUCTS. NEW YORK, September 23 (#).— August earnings of the Midland Steel Products Co, were $211,695, after all charges, except Federal taxes and profit sharing, against $206,209 in July, before Federal taxes and profit sharing. LEAD OUTPUT DROPS. NEW YORK, September 23 (#).— World production of lead in August is calculated at 150,959 tons by the Amer- fcan Bureau of Metal Statistics, against 156,751 tons in July and 152,- 853 in June. Output for the first eight months this year was 1,222,206 tons. FOREIGN EXCHANGE. (Quotations furnished by W. B, Hibbe & Co.) Nominal Selling checks ®old valu 6 0 LY (] g,'a‘w." 3 crown Stockholm, NEW YORK, September 28 (#).— [ ‘Foreign exchanges firm; quotatlons (in cents): Great Britain—Demand, 4861, ; cables, 486 21-32; 60-day bills on 482 5-16. France—Demand, 3.9214; cables, 3.92%. Italy—Demand, 5.44%; cables, 5.45%. Demand—Belglum, 13.92; Germany, 23.82%; Holland, 40.07%; Norway eden, . De: 19.27%; Spain, 17, Greece, 1.3214; Poland, 11.20; Czecho- 2.06%; Jugoslavia, 1.76; Aus- tria, 14.08; Rumania,,62%; Argentina, Brazil, 11.85)" ‘oo, 48.43%; ; Mon| 75; M % " ton, NEW YORK CURB MARKET Received by Private Wire Following is the list of bonds and stocks traded in on the New York Curb Market today: Sales in INDUSTRIALS. hundreds. High, 1Aero Sup Mfs M 4 Ala Gt South. . 1Ala Gt Sou pf.: 158 ib Pick Bar vtc 13% Ib Pick B A pf 22 Tam Co n. mm_Bak [ L3 m m Cy m Dept St EEtae e el FERSEEE rdiaisons ooy enS5 s - S 2 TR 0 R e s S S S SN o= Meter . 1 Pow & L pf. 1 Rayon Prod. olling M. . em Sol & Ch p b Superpow A. Superpow B %0 Gas & El. . N 220 ancitaly” Corp. Barnsdall deb rts. 33 Beaverboard vtc b 3 19 Beld Hall El 3 Blunenthals 1 Blyn Shoes 2Tohn Alum ... 2 1 Botany_ Cons * M 8 Brillo Mfe .... 14 r Dep St 18t pf 106 1 Brockw Mot n.. #7 WRIE PR ST e o 0 n Ci L Bucyrus Erie. .. 1 Bucyrus Co n.. 1 Budd Mfg . gBuf Niag & B g & E pi Mach. . *4: Can - Marconi W 9 Case Plow .... 17 Cel Corp Am’ 3 Buf N 1 Bullarg 1 Consol Laund, .. %CG &E P G Dl Copel Prod A.. 1 Courtlaulds. L.td: 13 Curtise Acro FERET TEs er 17 Durant Mot 1Duz Co A vie, ... 7 13 Bl Bond & SH ptd 1101 15El B & Sh n Cor 70 El Invest Tnc. .. i Ford b Forhan Co A.... 1 Foundation For'A SR i " F R FEERSR SRS EEEER Heyden Chem. 117 Huylers oo 9 Indust Ray C 3 Insur Co 20 Johus-Manv n .. 5 Joske Bros vic.. 4 Kensley Mil . 4 Kinnear Stores ! 34 Kro Gr & Tk ¢o 12 Lackawan s 6 Leh P s o W Uil s Mid W Util 5 (‘3&!‘7&{ |=(;. €5 130‘2 2d p! 02 wie Val 0. 50 ,. aritoidoFacscn R 225 2 s PR RS S I SO yad 3 o et o i S - 25 o0 i erse; 86 Pa E RO % Pa P&L ptd... 108 40 Bhelh RieE Store. “43 4 Phillp M, s B R T AT B A B oS o b S 21 S 1300 o ; SR E 2R e 35 218 R R RS AR RS R R R R [ = SIARIES P&L. . 32 &L prd w7 Assn Bklyn 309 0 Mot....... 2214 anitary ' Grocery 23 Selfrid¢e Pr Strs v El Cor o 23S esond: . 2 i P TR 5 R ER TR e SR e Ly EEER IRt ol ot et d Ex 1Trans Lux. Pict. 19Tt Co Prod st 1 Trumbull. St ) T ey SS3EnE @ B R OR RNEEER FRR P OF S oozt oSS oo Sioncs 9 iz Biorcs s S RS0 SSSRRRnET S ™ SRR & AR namssae oSSt [y S S [y E e 55D oo oo FFRS S A s 334 R BB D SR e S S S S5 S ® MINING STOCKS. M &M Ltd 04 Explora .. 17% nklo Chil "C ‘N 193 s 552 =) Baltimore Markets BALTIMORE, September 23 (Spe- cial).—Potatoes, bushel, 1.00a1.25; barrel, 1.50a3.25; sweet potatoes, barrel, 1.50a2.25; yams, barrel, 1.50a 2.00; bushel, 75a90; beets, 100, 2.00a 4.00; beans, bushel, 90a1.00; cabbage, 100, 2.00a4.00; carrots, 100, 2.00a4.00; celery, crate, 1.25a2/00; corn, dozen, 10a. 20; cucumbers, basket, 75a1.00; egg- plants, basket, 25a35; lettuce, 1.50a 2.50; lima beans, bushel, 1.25al.75; onions, 100 pounds, 1.00a1.75; peppers, basket, 20a30; Savoy cabbage, bushel, 40a50; spinach, bushel, 34a40; squash, basket, 20a40; tomatoes, basket, 15a 35; packing stock, bushel, 20a30. Apples, basket, 75a1.75; crab apples, basket, 50a65; cantaloupes, basket, 50a 75; damsons, bushel, 2.00a2.25; grapes, common, basket, 40a60; huckleberries, quart, 20a25; peaches, bushel, 1.50a 2.75; pears, bushel, 1.75a3.00; melons, each, 10a35. Hay and Grain Prices. ‘Wheat—No. 2 red Winter, export, 1.36%; No. red Winter, export, 1.33%; No. 2 red Winter, garlicky, ex- port, 1.34%; No. 3 red Winter, gar- licky, export, 1.31%. Corn—No. 2 yellow, domestic, 1.15; cob corn, old, 5.50 per barrel, nominal. Oats—No. 2 white, new, 56%a57; No. 3 white, new, 55a56, Old oats selling 2 and 2% bushel over new oats. , Rye—Nearby, 1.00a1.10. - Hay—Recelpts, 38 tons. New hay is arriving in only limited quantity and in somewhat irregular conditio; It is, therefore, not being official graded and sells strictly on its merits, within range of 16.00 and 17.50 a ton, ' timothy and elover Straw—No. 1 wheat, 10.00a11.00 per ‘Direct to The Star Office 2 Beaver Cons 3 Bunker Hil 2 Cons Cop - = Py 0l e 10 Golden _State. 2 Heela M mo—‘-—h'ggs 2 s S B G O ® © ) i 3 SRR E e ot IS Premier Gold Spearbead Gold. Teck Hughes ... Imont. 1Utah Apex .... Sales INDEPENDENT OIL STOCKS, i hundrecs., =2 R S Nor Cen Tex Oil dem "Oil, Pa Ralasnsiie ERE RARESE 5 2 20 - @S% STANDARD OIL 300 Anglo Am 0il 100 Atl' Lobos. 100 Atl. Lobos 800 Contl il n. 20 Gal g 2300 Humble i1 & ol00 T P L. BEEEemD S R D mugass FRE 1000 Prairie 6.8 & & 50 Prairie P L.... 400 Southern P T," 5 n 1003 ©XS; s hio _n. 100 Vacuum' oi1: Sales in" thousands. 30 Am Seating 2Am Thread C 0s. 10 o At £ A5, 10 TANRE & L. 0 & EERRSA [y 255525550 =t Tt 3e (oveds) 3582 R o % D 13315 e B = ‘A Nat Ry 4%s 3 G ia S 108 Care ¥ 1% 104 i Snn200: e 252 RIS ban T 77 1 Cudahy s, . 1 Cudahy B 17 Berdly 67 A v ¢ s 22 Dot Int] Qe B € Det Intl 107 1013 102 78 '30 6 Gatincau Pow Bs 5 Gatineau P n wi 07 5 Gatineau Pow 63 100 1380 T Cr 6% 128 3 Gen Tnvest 5 Georela & 7 08 A 03 - 3 SREEESS3EES O e Y . R 5 4 B&S Bs A 100 4 Kemsley Mil B (s 123 4 K G 1 fanee § b Selonee: SIESSERE! SeoSoeoro0s b 00523055! s 2 SRSIST. Sz o002 223253, ke 223S! S 252t = =228 FEOFER RE b, e Tt 3- 3 (oo Ty S33o3e8 S2353 [=3 W Porto Ric Tob 20 Potomac £d oo DR . Se55e 2832 TR Suly Amer 5t S Cal 5%s 90 FOREIGN BONDS. 1in thousands. 7 Ag Mt Bk ¥ 2714 SBa‘nk 'P’;uu’l: %Z 1!0’: lg g:mvm Pet 438 03 . 067 a6 1004 99 95 2 s ww. 102 b Elec 78 A 95 M&S 7s ww. 97 ndosa 7% ‘b1 eridl" Blec'Te A 03 1 78 93 A wi 9 oz ris ooy 2 o Rt E AT e R s s e este e ! e, & Markets at a Glance NEW YORK (#)—Stocks strong; puplic utilitles and rubbers _attain records. Bonds firm; Poland 8s at new 1927 high. Foreign exchanges firm; sterling at par; guilders and marks at new 1927 high. Cotton higher; bullish ginning figures. Sugar featureless, = Coffee firm; better spot advices, Corn easy: ab- trost. Cattle stéady. 8 s » 252835188 PR EERERTRER FINANCIAL. LET US FINANCE YOUR HOME LOANS To Run § Years No Annual Curtail 519, Interest WM. H. SAUNDERS CO., Inc. Main 1016 1433K The New York Life Insurance Company Offers to Make First Mortgage Loans On Improved Real Estate in the District of Colum.bia and Nearby Suburbs in Montgomery County, Md, for 3, 5 or 10 year terms on your 514,97 o rem RanpALL H. HAGNER &, COMPANY MORTGAGE LoAN CORRESPONDENT 1321 Connecticut Ave. Telephone Main 9700 Apartment Home Life Insurance Company WILL LEND YOU MONEY ON RESIDENCES, APARTMENTS. BUSINESS PROPERTIES IN DISTRICT OF COLUMBIA AND NEARBY MONTGOMERY CO., MD. AT v 5% PER CENT INTEREST THROUGH ROSSEPHE| PS FOUNDED 1907 LOAN CORRESPONDENT 1417 K ST. LSO Main 9300 IN crowded city traffic— on a broad, open highway or a winding road of gravel—Stearns-Knight per- formance is incomparable Stearns-Knight America's Most Luxurious Motor Car STERRETT & FLEMING, Inec. Showrooms CONNECTICUT AT 8 Service Station CHAMPLAIN ST. AT KALORAMA ROAD Diversification Liquidity of Assets Skilled Management Bankstocks Corporation of Maryland Cumulative Convertible 6Y,% Preferred Stock N Investment Trust holding capital stocks of the more prominent banks, trust, casualty and insur- ance companies of the United States. The Company has earned in excess of Six Times its dividend requirements on all outstanding Preferred Stock. ; ==nE= D) We recommended this issue at $60 per Unit and accrued dividend Harris-Mooney & Company INVESTMENT BANKERS Southern Building H. George Thyson Resident Manager NEW YORK Main 10432 lolc————lo/—a[o[c——n] BALTIMORE Harris-Mooney & Co., Southern Bldg., Washington, D. C. Without any obligation on my part send descriptive matter.