Evening Star Newspaper, October 1, 1927, Page 10

10 'FIN STOCKS GO HIGHER INFINAL TRADING - Motors, Utilities, Rails and Store Shares Display Best Group Strength. BY GEORGE T. HUGHES. Bpecial Dispatch to The Star. NEW YORK, October 1.—The wave of buying which swept through the stock market during the first hour today carried the railway and indus- trial leaders up sharply. It was one of the most active two-hour sessions in many months. It might have been expected because of the recent rally that profittaking sales would make themselves felt as the week drew to a cl but where these ap- peared they were readily absorbed. The action of the main body of stocks mave every indication that a short interest ill existed and hecoming increasingly alarmed over the safety of its position. Rails Display Strength. »st noteworthy incident b With the traffic »r August now out of the t that could be said was avoring higher prices for stocks were anticipating a avorable comparison in the September fizures with the same month a_year ago. . > jan Pacific at 198 compared ay's close of 1933 and was est since the pre-war period, when it sold at 283. Dv!zy\]\varo & }‘h:d- cas hid up more than 2 points, - Py 13 boints to its highest ew York Central a point nce 1906, and New & St. Louis to its and Chesapeake all time. since 1912 or so to its bes York, Chicago highest for the year, & Ohio to its highest for U. S. Steel Again Leader. United States Steel assumed leader- ship of the industrials once more nnq the price was bid up to its highest for the move, up more than 2 points. Bethlehem, Colorado Fuel, Cru(‘l?jl& Youngstown and Vanadium shared substantially in the upturn. General Motors old gained some 3 points, but the demand for both classes of this stock was not as pronounced as might have been expected in view of the th elsewhere. ‘":;gerican Telephone & Telegraph and People’s Gas of Chicago led the utilities. Operations for the rise got under way again in the copper and metal shares, with spectacular buying of Calumet and Arizona and Greene Cananea at new high prices. Amer- jcan Smelting & Refining went along, and there was a better demand !oxl; cott and Anaconda. Ke!:’(;‘lzlfltflal specialties which stood out prominently were Gillette Safety Razor, United Drug, both at new highs, and Union Carbide & Carbon, up more than 2 points. Some profit taking developed in the last half hour, but new leaders were taken up and gave the market an appearance of unusual strength throughout. Sales approximated 1,000,000 shares. Markets at a Glance NEW YORK (#).—Stocks strong; New York Central at new high. Bonds quiet; high-grade rail liens improve. Forelgn exchanges, steady; Japanese yen rises 20 points. Cotton lower; Southern selling. _Sugar, featureless. Coffee easy; large Brazilian shipments. Wall Street Briefs ANCIAL, G STAR, WASHINGTON, D. C NEW. YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Open. High. Low.Close. Abitib! Pow (5). 125% 125% 124% 125 Abrahm&Straus 93% 941 93 93 Abr&Stras7%pt 112 112 112 112 Adv Rumley. 10% 10% 10% 10% Alr Reductn(17) 179% 177% 179% 179% Ajax Rubber.... 8% % 8l B% Allled Chem (6). 162% 162'% 161% 162 Allls Chalm (6). 116% 116% 116% 116% Amerada (2).... 30% 30% 30% Am Agricul Chm 14 Am Agri Ch pf.. 46 Am Bosch...... 23% Am Br Sh (§1.60) 41% Am Brown Bov.. 874 Am Can (2) 6334 62 Am Car&Fd. 02% 102% 102 AmC&Fpf (7). 125 125 125 125 Am Chicle (3)., 69 69 69 69 Am Drug (86c).. 13% 13% 13% 13% Am Encau (2.40) 43% 48% 43% 43% Am Express (6). 157 167 157 157 Am & For Pow.. 29 Am&Fo Po pf (1) 105% 105% 105% 1 Am Ho P (240)." 514 51% 51 Am Homesrts. . 1% American Ice(2) Am Internatl(2) Am La France Am Linseed. . Am Linseed pf.. 78V 8% T6Y Am Locomot (8) 106% 1067 106% 1067 Am Loco pf(7).. 125 125 124% 124% AmPo&Lt(11) 70 0% 69 69% Am Radiator (5) 143 143 141% 141% Am Republic.... 48 48% 48 48% Am SafetyR($3) 52% 52 52 52% Am Seating (14) 41% 42 41% 4l% Am Shipbldg (8) 111 111 111 111 Am Smelting (8) 173% 174% 173% 178% AmS & Rpf(7). 13214 1324 130% 130% Am Snuff pf (6). 103% 108% 103t 103% AmStIFdys (3). 52 524 52 b2 Am Sugar (6)... 93% 93% 9215 924 Am Sugar pf (7) 114% 114% 114% 114% Am Sumatra.... 64% 64% 64% 64% Am Tel & Tel (9} 178% 178% 178 178 Am Tobacco (8). 153% 153% 153% 153 AmTobaccoB(8) 152% 152% 152% 152 Am Tobac pf (6) 115% 115% 115% 115% Am Type Fo(8). 136% 136% 136% 136% Am W W (m80c) 70% 7% T0% Tl% Am WW (cl.60). 140 140 140 140 Am Woolen..... 22% 22% 22% 22% Am Writ Pactfs 19% 19% Am Wr Pa pfcfe 49% 49% Am Zinc. 6% 61 Am Zine pf. 36% 36% Anaconda (3)... 4% 481 Armouroflll(A) 9% Armour Il pf(7) 66 Art Metl (1%).. Asso Dry G (23) 4 AtT& ST (19%) 1924 193% 19! Atchison pf (5). 102% 102% 1025 102% AtICL (18%).. 195% 197 195 196% AtIGulf & WI.. 33% 331 331 38% At] Refining (4). 121% 121% 120% 120% AtlasPowder(4). 63 .63 63 63 Baldwin L (7) 2556 255 254'% 254% Balto & O (6)... 122% 123% 122% 123% Bambgr pf(6%). 109% 109% 109 109 Bang & Ar (3%). 73% 3% 72 72 Bang & Arpf(7) 111 111 111 111 Barnet Leather. 55% 55% b65% 554 Barnsdl A(b2%) 22% 22% 22% 22% Bayuk Cigars... 92 92 . 90% % Bayuk 1st pf (7) 107% 107% 107% 107% Beech-Nut (13). 59% 59% 59% 59% Belding Bros (2) 238% 23% 23% 23% Best & Co (3)... 5 55 55 55 Bethlehem Steel 61% 62% 61% 61% Bon AmiCl A (4) 62% 62% 62% 62% Booth Fisheries. 5 5 5 5 Booth Fish 1st.. 39% 39% 39% 39% Briggs Mfg Co. 20% 22% 20% 22% Bklyn-Man (4).. 54 54 53% 63% Bklyn Un Gas(5) 142 142% 140% 140% Brown Shoe (2). 42% 42% 42% 42% Brunswick B (3) 32 32 32 32 Burns Bro (10).. 106 106% 106 106%: Burns BrB (2).. 24% 24% 24% 24% Bush Term (b8). 63% 65 63% 64% Bush Terde (7). 107 107 107 107 Butte Cop (50¢c). 4% 4% 4 4% 102% 1 51% 1y 9 1 | Gen Ry Sigrts.. GenRySig pf rts Gen Refrac (3). Gillette Saf Raz. Gimbel Bros.... Glidden Co Glidden pr pf(7) Gold Dust (3)... Goodrich Ru (4) Goodrich pf (7). Goodyear T Gothm S H (2% Gotham new 2% Granby Con Min. Grt North pf (5) Gt Nor pf cfs(5) Grt Nor O (1%). Grt Wes S(2.80) Green Canan.... Gulf Mo & N Hollander & Son Houshld P (3%) Houston Oil.... Howe Sound (4). Hud Man (23%).. Hudson Mot (5). Hupp Mot(1.40). 1llinots Cen (7). Indep O1l (1)... Indian Mot (1) Indlan Refining. Indian Refg ctfs Ind Ref p£(7). Inland St (2%).. Inspiration. Internat Agrf. .. Inteontl Rub(1). Int Bus Ma (4).. Int Cement (4).. Int Com Eng (2) Int Harv (j6)... Inter Har pt (7). IntMteh pf(3.20) Int Nickel (2)... Intl Paper (2.40) Int Paper pt (7). Intl Silver p£(7) Int Tel & Tel (6) Int Tel & Tel rts. Jewel Tea... Jordan Motor. Kan City South.. Kayser J (4) KKelly-Spring. ... Kelly Tire 6% pf Kelly Tire 8% pt Kinney pt (8)... Kennedott C (5). Keystone T & R. Kraft Ch (11%) Kresge SS 1.70. Lago O1l (75¢).. Lambert Co (5). Lee Tire & Rub. LehighVal(33%). Lehn & Fink (3) Lite Sav (1.60).. Lig & Myrs(ft4) Lig&MyrsB (£4) Lima Loco (4).. Liq Carb (3.60). Loew's Inc (2) Loft.....eus . Loose-Wil(1.60). Lorillard Co .. Lorillard pf (7). Louisiana Oil. LouisGasA (1.« Louis & Nash(7) McCrory B (1.60) Mack Truck (6) Mack T 1st (7)., Mackay pt (4)... Mad Sp Gar (1) Magma Cop (3).. Mallison & Co. Man El Sup (5).. Man Shirt (2). Marland Oil. Mathieson (4)... May Dept S (4).. Butte&Super (2) 8% 8% 8% 8% Butterick (g2).. 52% 52% 52% b52% Byer &Co....... 82% 82% 80% 80%. By-Products (2). 76 76 4% 4% Calif Packg (4). 65% 65% 65% 65% Calif Petm (1).. 22 22w 21% 21% Calumet & Ar (6) 81% 84% 8l% 84% Calu & Hecla (2) 16% 16% 16% 16% Can Dry (t3%).. 54 54 53% 53% Can Pacific (10). 198 199% 197 199% Cent Alloy (2)... 26% 26% 26% 26% Cerro dePas (15) 64% 64% 64% 64% Certain-Teed (4) 48% 48% 48 48 Chandlerpf(23%) '20 20 20 20 Chase Nat B(18) 595 595 595 595 NEW YORK, October 1 (#).—Direc- | Ches & Ohlo (10) 206 209 29[0 209 % tors of the American Iron & Steel In- stitute have not selected a successor to Elbert H. Gary, founder and sole president of the institute. After 2dopting a minute recording _their sorrow and sense ofloss through his death, they adjourned out of further t to his memory. eavy melting steel scrap, No. 1, 18150 cents a ton lower in the Pitts- h district, new quotations rang- ing from $14.50 to $15 a ton. nion Stock Yards of Omaha de- «l a stock dividend of 50 per cent able October 15 to stock of record October 5. The dividend on the new stock will be $6 a year, equivalent to $9ion the old stock, which paid $8 annually. Imports of copper into the United States in August amounted to 2,330 short tons, the American Bureau of Metal Statistics reports. Great Britain imported 10,455 tons. An increase in commercial failures in the United States last week is reported by R. G. Dun & Co., 385 against 337 the week before. American Railway Express had net income of $1,101,432 in the first half of 1927, equal to $3.17 a share, against $1,111,193 in the first half of 1926, or $3.20 a share. Baltimore Markets. BALTIMORE, October 1 (Special).— | White potatoes, bushel, 1.00a1.25; bar- .50a3.25. Sweet potatoes, barrel, 1.50a2.40. Yams, barrel, 1.50a2.00. bushel, 50a1.00. Beets, 100, 3.0024.00. Cabbage, 100, 2.0024.00 Carrots, 100, 3.00a4.00. Celery, crate, 1.25a1.75. Corn, dozen, 15a30. Cucum! | bers, bushel, 1.26a2.35. Eggplants, basket, 30a40. Lettuce, crate, 2.00a| 350. Lima beans, basket, 50a75. Onions, 100 pounds, 1.00a1.75. Pep. | pers, basket, 25a35. Spinach, bushel, | 25a%0. Tomatoes, basket, 20a40; pack- ing stock, bushel, 30a40, Apples, basket, 25a75; barrel, 2.50a | 5.50. Cantaloupes, crate, 1.00a2.00. Crabapples, basket, 50a75. _Grapes, 5075, Damsons, common, bushel .7 eaches, bushel, | 1.50a Pears, bushel, 1.25a3.00. Dairy Farm Products. Live poultry—Spring _chickens, pound, 25a28; Leghorns, 20a26; old hens, 2 Leghorns, 17a18; old roost- ers, 16a17; ducks, 2 small and poor, 17a18; pigeons, pair, 20a30; gui- | nea fowl, each, 40a Eggs—F 1,015 cases; native and n i ipts in free fresh, doz- packed, 32a33 cess butter, 40a41. Grain Prices. red Winter, export, red Winter, export, 33%: No. 2 red Winter, garlicky, ex- 1.38%; No. 2 red Winter, gar- ; No. 3 red Winter, 1.31. llow, domestic, 1.12; cah corn, old, 5.50 per barrel, nomin: ats—No. 2 white, new, 58%a59; No. 3 white, new, 573a58. Old oats selling 2 and 23 bushel over new oats. 1ye—Nearby, 95a1.05. ‘Hay—Receipts, 10 tons. New hay is arriving in only limited quantity and in somewhat irregular condition. It is, therefore, not being officially graded and sells strictly on its merits, within range of 15.00 and 17.00 a ton, timothy and clover grades. Straw—No. 1 wheat, 10.00a11.00 per ton; No. 1 oat straw, 10.00a11.00. C & O Corpn (3). Chi & Alton. Chi & Alton pf... Chi & East 1Il. Cht & East 111 ChiGreat West., 15% Chi Gt West pf.. 34% Chi Mil & St 7 C M & St P cfs 17 Chi Mil & StPpf . 33 C M&StP pf cfe. 32% Chi & Nwn (4)es 96% Chi Pne Tool (6) 128 Chi Rock 1s (5). 109 Childs (32.40) 61% Chile Co (2% 35% Chrysler Cor (3) 58% City Stores (B).. 50% Cluett Peab (5).. 75 Coca-Cola (5)... 124% Collins & Alk(4) 92% Collins&A pf (7) 104 Col Fuel & Iron.. 81% Col & Southn (3) 130 Col Gas & El (5). 93% Col G&E pt A (6) 106% Col Carbon (4).. 81 Com Cred (1). 18% ComCrpfB(2). 23 22% Com Solvents(8) 186% 190% 186% Com Powr (2%). 70% 74% 70% Congoleum-Nair 3% 24% 23% Cong Cgrs(t4%) 65% Con Cigars (7).. 81 Con Cigars pf (7) 103 Consol Gas (5).. 119 ConRRCuba pf 6 70% Consol Textlle. . 4% Cont Bakg A (4). 49% Cont Baking B 5% Cont Bak pf (8). Cont Can (5).. Cont Insur (6) Cont Mont (80c). 10 Corn Prod (13).. 59% Coty Inc (5).... 93 CrownWP1stpf?7. 92 CrucibleSteel (6) 89% Crucible pf(7).. 113% Cuba Cane Suptf. 35 Cuba Company.. 23% Cudahy Pkg (4). 55% Cushman’s (§4). 128% Cuyamel Fruit.. 51% Davison Chem, 38%% Del & Hud (9).. 209% Del L& W (17). 135% Detroit Ed (8).. " 156% Diamd Mtch(8). 140 140 140 140 Dodge Bros ClA. 17 17 16% 16% Dodge pf (7).... 67% 67% 66% 67% Dome Mines (1). 11% 11% 11% 1l% DulSS&Atipf: 6% 6% 6% 64 Dunhill Int (4)., 56 56 66 56 Dupont (19%).. 338 338 336 338 Eastman (18)... 171% 172 171% 171% Eaton Axle (2).. 2T% 28 27% 2T% El AutoLt (16%) 96 96% 96 96 Elec Power & Lt 29% ' 29% 29 204 Elec Refrigeratn 12% 13 11% 12% ] Stze Bat (16) 2% 724 724 72% Elk Horn pf. 23% 23% 23% 23% Emporium C 32 32 32 32 End John (5)... 7% 7% 77% 7% Engineers Pub S 35% 35% 35% 36% Engnrs PS pf(7) 105% 105% 105% 105% EquitableTr(12) 420 420 420 420 Erle RR. . 69 69% 684 69 Erie 15t pt. 64% 64% 63% 63% Erie 2d pf. . 620 62% 61% 61% ErleStmS (2%) 34 34 34 Erle Stm efs 2% 34% Eureka Va f14% 2 Fairbanks (3).. Fed Ligt(h1.40). Fed L&T pf (6). First NatS(1%). Fisk Rubber.... Fisk 1st pfcv(T) Fletschmann (3) Foundation (5).. Fox Film A (4). Freept-Tex t4% Gabriel Sn (3%) Gen Am Tnk(4). Gen Asphalt. Gen Asph pf ( Gen Cigars (4).. Gen Elec (16)... 80 80° 8 8 66 66% 81% 81 103 103 120 118% 0% 69% 113% 113% 113% 36 36 -3b 23% 23% 23% 56% 55 55% 128% 128% 128% 51% b51% 51% 38% 38 38y 211% 209% 210% 136% 135% 136% 156% 156% 156% 34 34% 12 35 a1% 98l 35 41y 98Y 27% 27% 17% 16% 16% 100% 100% 100% 63m 63 52% 69 81 39 57% 1% 76% T6% 118% 118% 118% 6% 67% 674 136% 136% 13€% Mexican Seab. Mid-Continent Middle States, Mid States Oil ¢ Midland pt (112) Miller Rub (2).., Min St P & SSM. MStP&SSM li(4) Mo Kan & Tex. . MoK & 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... Nash Motor(15). Nasir& Chat (7). Nat Bellas Hess. NatBHess pf(7). Nat Biscuit t56%. Nat Cash R (A)3 NatCityBk(120). Natl Dairy (3).. Nat Dept Store: Nat Distillers. .. Nat Enamel & 8. Nat Lead (5).... Intl Sflver...... 1 196 = 200 146% 147% 146% 147 4 47 Kt 60! 100% 26Y% 42 137% 20% 109% 51'% 16% 9 12% 91 69% 48% 2247% 2 119% 156% 6% 70 18% 65% 60% 29% High. Low. Close 620 62% 62 621 105% 105% 105% 105% F4ve 34% 33% 94y 9414 641 64% 8% T 1501 149% 135% 132 46% 46% a8 114 K3% 4T%h 531y Refd Ice Crm(3). ReldIceCr pf(7). Rem-Rand $1.60. Rem-Rd1st (7). Rep Ir & Stl (4). Reynolds Spngs. Rey Tobac B (5) Rossla [ns (6).. Royal D a3.13 St Jos Lead (13) St L & San F't8). St L Southwest. Savage Arm: Schulte (3%)... Seabd Alr Line. . Seab Air L pf. Sears-R (n2%). Seneca Coper. ... Shattuck F G (2) Shell Un (1.40).. Simmons (2).... Simms Pete..... Sinclair Ofl. ... Skelly Ol1 (2)... Snider Packg Co. . Snider Pkg pf. .. SPorto R Sug(2) South Calit Ed. South Dairfes Sou Dalrles B. South Pac (6)... Southern Ry (7) Splcer Mfg..... StdG&E (3%). Std G & Epf (4). Std Mill (5)..... Std Millg pf (6). StdOHICal (28 ). Std O1LNJ t1%) Std OIINY (1.60). Std Plate Glass. Sterling Pro(16) Stewart-War (6) Studebaker (5).. Superior Ofl..... Superior Steel. .. Sweets of Amer. Telautogra (60c) ‘Tenn Copper (1) Texas Corpn (3). Tex Gulf Sul (4) Tex & Pacific... Tex Land Trst n Tex PC&O(60¢c). Third Avenue. .. Thompson (3.60) Tidew Aso (60c) TidWASOiIpf(6) Timken (5).. Tobac Prod (7).. # | Transcont Ofl... Underwood (4). Un Bag &Paper. Unlon Carb (6).. Union Ol (2% Union Pac (10). Un Pacific pf(4). UtdCgrSt(C80c) Utd Cgr St pf(6) United Drug (9) Utd Drg 1st (3% Utd Dyewood. Utd Fruit(16%). U S CIP&F (10) 2 U S Distributing U S Distr pf(7).. S Hoffman (4) Alcohol (5). Leather w 1. Leather A.. 106% 5T 106% 104% 844 6% 1% 1 2 26% 27% 264 27 26% 26% 26% 26% 64% 65 64y 64% 44% 44% 44% 44 19% 20 19% 19% 92% 92 92 92 19 200 89 40 1% 92 39 40 9% 92 8% 46 720 716 61 '60% 23% 28% 23% 23% 48% 48% 4T 48% 25% 26% 26% 26% 125% 126% 125% 125% 47 720 % 61 Nat Led pf B (6) 111% 111% 111% 111% Nat Park Bk(24) 640 640 640 640 Nat Pw&Lt (80c) Nat Ry Mex 2d.. Nat Supply (4). Nat Surety (10). 257% 260 NYC&StL pf(6). rt. NY NH&Har rts, NY Ont& W (1).. N Y Railways pf. NY State Rys pf. NY Steam pf (6) NY Stm pt A (7) Norfolk South North Pac (5)... Nor Pac cfs(5).. Norwalk Tire... Norwalk Tire pf. 011 Well Sup % Ofl Well Spf.... Omnibus. ... Opnhm Col (4).., Otlis Elevator (6) Otis Steel....... Owens Bot (C16) Owens B pf (7). . Pacific Gas (2).. Pac Ofl Stubs, .. Pac Tel & Tel (7) Packard (12.90) . Paige Motor.... Pan-Am Pet (4). Pan-AmPetB(4) Pan-Am West B. Parmt-Fam (§8) Park & Tilford.. Park Utah (80c). Pathe Exchange. Pathe £x A (4). Patino (1.21 2-3) Penick & Ford Penn C & Coke. . Penna RR (3%) Peoples Gas (8). Peoria & East... Pere Marg (18). PhilaCo6%pt(3) Phila&RC1. Phila&RC&I cts. Philip Morrt Philip Morris rts Philiips Pet (3). Plerce-Arrow... Plerce Arrow pf. Pierce Petroim.. Pillsbury (1.60). Pitts Coul . Pitts Stl p: PittsTerm Coal. Pitts Ter pf (6). Pitts &W Va(6). Postum (5)..... Pressed Stl Car. Pr Stl Car pf (7) Prod & Refiners. Producers&R pf. Pub Serv NJ (2) Pub SE&G pf(6) Pullman, Inc.... Punta Aleg Sug. Pure Ofl (12).... Pure Ofl pf (8).. Purity BakA(3). 1% 11% 1% 45 . 46 45 268% 266 268 134% 132% 134% GenElec sp(6uc) Gen GasB(1%). GenMotors(110) Genl Motors (n). 133% e S France now has less than 85,000 Reople out of work. . b63% 53% 53% 53% 57% 57% 57% 57% 1 1w 141 1IN Gen Outdr Ad(2) Gen Outdr A (4) Gen Ry Sig (6). Purity Bak B (2) PurityBak pf(7) Radlo Corpof A. Reading (15)... Reading 2d (2) Real 8ilk Hos 26% 26% 26 264 2% 2% 24 24 85% 85l 85% 85l 257% 259% 4% 41% 41% 41% 6% 135% 135 107 107 107 107 60 60 59 59% b4% Ba% b4 b4% 2% 2% 2% 2% 40% 40% d0% 40% 7 7 5 & 3 35 99% 100 110% 114% 110% 114% 52 52 652 62 190% 190% 190 190% 59% Y 60% 95% 93 2% 40 4% 35% 34% 364 108'% 108% 108% 108'% 12% 12% 124 12% % 5% T4% 4% 151% 153 151% 153 9% 9% 9 9 T6% TT% T6% 77 116 116 116 116 4% 44% 44% a4n 1% 1k 1w 14 169 160 158% 159% 43% 43% 43% 43y 11 1% 11 114 49% 49% 49% 51% 504 51% % 18% 18% 18 109% 109% 108% 109% 39 39% 39 394 6% 6% 6% 6% 4% 4% 4% 23 23 28 23% 28% 19% 19% 15% 15% 66% 67% 67 67 161% 161% 160% 161% 4% 4ln 4l 41% 133 133 132% 132% 52 52 52 b2 43% 42% a2y 184 1% 42 9% 39% 3% 34% 65 97 44y 9% 157% 157% 167 121% 121% 121 2% 2% 12% 864 86% 86% 30% 30% 30% 45% 454 45% 45% 45% 4d% ] 157 121 2% 86% 30% 45% 45 107% 107% 107% 107% | Px £2n 82% ¥24 82w 37 37 36% 36% 26% 26% 26% 26% (M 12% | 4 112% 112% 112% 1 58 68 58 88 89% 89 90 % 90 106% 106% 106% 106% 63% 65 17 17T4 116% 116% 45% 45% 45% 45% 23% 24, 284 % e SRR Vo 63% 64% ' Dout Lnun Leatpfpf(7) Realty (4) Rubber... Rub 18t (8). Smelt (3%). J'S Steel (7)... U S Steel pf (7). Univ Pipe(2%). Uni Pic 1st pf(8) Utl P&Lt A (e2). Vanadium (3)... Vick Chem (4) Victor Tlk Mch. . Victor ev pf (6). Victor pr pf (7). Va-Car Ch 6% pf Va-Car Ch pt (7) Vivadou (3). Vule Det pf ( Wabash. Wabash pf A (5) Walworth (1.20) Ward Baking B. Warner Pic A... Warren Bros (4) WarF&Pipe Cor. cacagacca wann West Maryland. West Pac pf (6). W Penn El A (7) West P Po pf(7). Westhse A B(2) West Union (8). Westinghse (4). Weston Electric. Wheel & L E pf. White Eagle (2). White Mot (4)... White Rock (12) White Sew Mach White SM pf(4). Willys-Overland Willys Od pt (7) Woolworth (5).. Worthn Pump. .. Wright Aero (1) Wrigley (13%).. Yellow Truck... 33% 34% YungstnS&T(5). 84% 85% Dividend rates as given in ) are the annual.cash payments 64% fi . L of trading fess than 100 shares 1 Partly extra. 3 Plus 4% in stock. 1§ Pay- bl common etock. Y Plus 2/60 in) aPaid this year—no regular rate. t in common stock. o8 ¢ Plus 5% in sock. d Pay- . o Payable in_ cash -or 10%, in stock Blus 1/50 are stock. 1Plus 6% in stock. ) Plus 2% in stock. k Pavable’ 1/40 of a share auarterly in Ciass A stock mFlus 8% in stock. n Partly siock. pPlus $3 in preferred stock a Plus one-hait of common etock. BUSINESS HOLDING UP. Normal Conditions Prevail in Fifth District, Report Says. RICHMOND, Va., October 1 (#).— Business conditions in the Fifth Fe eral Reserve Bank district during Au- gust and the early part of September compared favorably with the seasonal average, according to the monthly re: view of business and agricultural con- ditions released by the Federal Re- serve Bank of Richmond today. While business was not uniform and some lines were much better than others the average was favorable. Increased rediscounts at the Federal Reserve Bank and an increase in the circulation of Federal Reserve notes during the past month indicate that Fall trade has opened up normal Coal production in the fifth dis- trict continues very large; textile mills ‘are operating full time on a volume of forward orders sufficient to run them several months and this is in sharp’ contrast to the hand-to- mouth operations of 1926. Official crop estimates are, on the whole, favorable. Cotton and fruit show the only material declines in yields from last year, and in the fifth district the increase in cotton prices will more than compensate for the decreased production this year. This year's tobacco crop bids fair to be more remunerative than last year's profitable crop. GERMAN BONDS AND STOCKS. By_Special Leased Wire to The Star. NEW YORK, October 1.— (Quoted in dollars per million marke) | id, - Asked Ger Gt (w In) bs 1014-18, 800.00 875.00 Hamburg 4145 1910 60.00 ~70.00 (Quoted in' do per "thousand marks.) Ger Gen Elec 438 pre-war. 27.00 2800 Ger Gen Elec 438 1010. 00 Berlin 48 pre-war..... Hamb 3s. 3%8 & 48 pre'w. Hamburg Amer Line 4148 North German Lloyd 4 North German Ligvd. Krupp 68 19 Reldort 4 s unich 4s pre-war. E G (Ger e AEG (Ger Ge Elec) bid ommerz And Privat Ban) B Farben an Bank. H:;fial’; (Jnhlul:lr-‘:l‘e"n Austrian A E G (Gon Eieo ) s 3 |of the present " | Institute of Banking. 0 | in charge of B. A. Leavitt. ' PEPCO HAS AUGUST SATURDAY, OCTOBER 1. 1927, OUTLOOK 1S BRIGHT GAIN OF $32.31305, FOR REST OF YEAR W. R. & E. Also Reports Higher Earnings—Other Local Financial News. BY EDWARD C. STONE. Total net income of the Potomac Electric Power Co. for the month of August reached $183,721.36, compared with $151,408.31 for August, 1926, or Ain for the period of $32,313.05 The Power Company also showed a substantial gain in_gross earnings from operations. The monthly re- port fust flled with the Public Utilities Commissicn reveals gross earnings of 3 for the month, compared 7,184.36 for the same month n , an increase of $43,896.97. The company reported total operat- ing expenses of $314,003.73, agai $290,777.02 in August, 1926, i th ating expenses th 000 higher t ome, less operating hed the sum of $329,857.68 arison with $302,521.88 in Au- gust a year ago, or an increase of $27,335.80. The report filed with the commis- sion also covers the first eight months ear and shows a net income of $1,902,390.89. The net in- come for the first eight months of 1926 was $1,672,634.36, which means a gain so far in 192 56 Gross earnings from oD the eight months amounted to $3,542,- 08 compared with §$5,132,459.15 in 1926, the increase in gross being $410,- 1435.93. Operating expenses during the period were also higher, being $2,462.- 338.84 against $2,258,125.64 a year ago, amounting to $204,- a zu 713.20, ‘Net earnings from operations total- ed $3,08 6.24 in comparison with last ye summary of $2,874,333.51, the gain in net earnings from opera- tions being 3203,722.7}?. This leftl x; sross income, after the payment ol (;:pm ting expenses, of $3,204,578.84, compared with $2,978,835.88 a vear ago, or an increase of $255,743.46. W. R. & E. Shows Substantial Gains. 1In the monthly report for August of the Washington Rallway & Electric Co., filed with the Public Utilities Com- mission, a total net income of $278,. 418.47 is shown"in comparison with a lower net income in August, 1926, of $241,672.34. Th» company reported larger operat- ing revenues, the figure being $443,- 083.56 in comparison with $358,911.18 in August, 1926. Total operating ex- penses and taxes amounted to $388,- $33.77 against $314,964.09 in the same month a year ago. After the deduction of expenses and taxes the street rail- way company had a total operating in- come of $54,247.79, compared Wwith $43,947.09 in 1926. i A summary of the company’s net income for the first eight months of the present year shows earnings of $1,088,359.34 in comparison with $940,- 55! for the corresponding period in A Total operating expenses for the eight months amounted to $3,904,- 566.02, against $3,215,045.14 a year ago. Expenses and taxes for the eight months amounted ot $3,253.- 086.51, in comparison with $2,651, 073.82 last year. Gross operating in- come, after deduction of expenses and taxes, amounted to $651,479.51. Last vear the similar figure was $563,- 971.32. The company’s gross income, less operating expenses and taxes, was $1,605,835.67, compared with $1,411,- 114.07 a year ago. In connection with the substantial gains shown in the company’s net income for August and for the first eight months of 1927 it should be borne in mind that the report in- cludes the earnings of the Georgetown and Tenleytown and the City and Suburban lines, which last year made separate returns. As both these lines have displayed good earning power, their figures are an important factor in the above mentioned increases in net earnings. Local Market Very Active. Trading on the Washington Stock Exchange was exceptionally heavy to- day when Saturday opening was re- sumed until next Summer. It has been many months since there have heen anywhere near as many different transactions recorded in one session. Prices were strong. Railway & Elec- tric preferred was by far the most active issue, 182 shares changing hands in 15 separate transfers. The last sale was made at 97%. The same company’s common stock appeared on the board twice, opening at 3756 and closing at 370. Capital Traction sold at 106, Potomac Electric Power 6 per cent preferred registered 110%, while the 5% per cent sold at,105%. American Security & Trust opened at 465 and advanced to 470. Other stocks held recent levels. There was a long list of bond trans- actlons at firm quotations. Bank Distributes Publication. The Federal-American National Bank was today distributing to its depositors copies of The Bank Mes- senger, a pictorial and news monthly intended to stimulate thrift, good man- agement and mutual interest among customers and friends. It is a neat publication, containing lots of valu- able financial hints. “Financial Inde- pendence at 50" is one of the features. During the week John Poole, presi- dent of the bank, awarded gold prizes to the employes who last year com- pleted courses in the local chapter, The prizes totaled $550 in value and were present- ed to 22 members of the staff. It is the fourth consecutive year that the bank has shown this special interest in the younger employes. What Local Banks Are Doing. Vice President George O. Vass of the Riggs National Bank is spending a few days at Atlantic City. Vice President Bertram Chesterman of the Morris Plan Bank has returned to Washington after attending the an- nual cohvention of all the banks in the system at Newport, R. I. M. F. Calnan, cashier of the Liberty National Bank, has returned from a month’s vacation passed at Sherwood Forest. Irwin L. Miller, president of the Gettysburg National Bank, was a re- cent visitor in this city. Roy A. Young of Minneapolis is ex- pected to assume his duties 8s gov- ernor of the Federal Reserve Board in a few days, according to a_Treasury announcement, succeeding Daniel R. Crissinger. Other Financial Brevities. Piggly Wiggly common stock is again to appear in New York, having just been listed on the Curb Exchange. One hundred and eighty-seven students were present at the institute one evening during the present week. It has been most difficult to find seats for such a rush. v ‘Henry L. Doherty & Co. moved into the Southern Building today. The trust department of the Mer- chants’ Bank & Trust Co. has moved into the east mezzanine in the main banking rooms, this department being The real estate department, in charge of Thomas Green, is now housed in the west 0 | mezzanine, the remodeling of the in- terior of the bank now being prac- tically completed. Designs Insurance Payment Club. ‘W. E. Burwell, cashier of the Rock- 57.00 3900 | ford, I, National Bank, has designed a 50-week payment club, so calculated that at the end of the year, the ac- 0 |count will contain enough money to surdnce Majority of Industries Now Given Rating of “Fair to Fine” in Most Sections. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, October 1.—Even the confirmed pessimists admit that the prospects for five-sixths of the basic industries of the country are bright for the remainder of the year, ranging as to rating from fair to fine. Those industries which have a poor outlook are the ones which have failed in essential particulars to adjust them- selves to present-day conditions, and even in those there are many units which have every prospect of doing well in the next three months. The banks have money to loan for legitimate business purposes. The in- vestors have money to place in sound, seasoned business securities, and the public has money to buy as great a volume of goods as at any time in vears. Money, after all, is the main factor in the present situation. It is easy and interest rates are compara- tively low. Purchasing power is normally the deciding factor in periods of pros- perity. The situation of the agricul- tural yields of the country today in- dicates that the farmers, the largest single customer bloc in the affairs of the Nation, will have more money to spend than a year ago. This, of course, does not obtain as to every crop or every section. Utilities Doing Well. As to the industrial situation, the expansion of the electric light and power industry offers conclusive evi- dence as to conditions. The recent ex- pansion has fully paralleled that of recent years and the sale of power in 1927 seems sure to exceed by 10 per cent the amount of current required in 1926. There hve been some rate re- ductions, but the total gross income of the utility companies will compare favorably with last year, while net, owing to reductions of costs, will show a gain. The gas companies are doing equally well, owing largely to the growth in the industrial use of gas as a fuel. ‘The recent improvement in steel has been more one of sentiment than of production, but the industry has main- tained a stability which is most grati- fying. Agricultural implement com- panies, large consumers of steel, are having a splendid season both in domestic and in export trade. . The electrical equipment makers are having a Fall period fully measuring up to that of 1926. This is aiding non- ferrous metals, although’ the outlook for copper, lead and zinc remains only fair. Fall Crops Aid Railroads. The railroads are at the top of their Fall movement. The gain is coming not so much from volume of ship- ments as from efficlency and cutting of costs in handling what they carry. The automobile trade still is spotty and it cannot be denied that the factor of the new Ford is one which is hampering operations by some concerns. However, nothing seem- ingly is hampering the five or six leading manufacturers. Radio and refrigeration are two industries which also’show a sharp division be- tween the sheep and the goats. Some companies are fighting to fill ths orders they have and some are fight- ing for enough orders to keep them running. Consumption of cotton continues unusually large and the cotton cloth manufacturers are doing better in general despite some big units which are lagging owing to ancient equip- ment. There is a better demand for wool, especially of the cheaper grades, but the woolen and silk cloth makers are not enthusiastic over their outlook, owing to the vogue for furs. The fur trade is booming. (Covyright. 1927.) Have You Been Stung Yet? Some men have to get stung good and hard befcre they learn to be cau- tious in making investments. Before you hi.7est—investigate. — e FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Clodnkr,‘)) - Bid. Al g;' eI . 0% Al s 3 1 1 32 2 3 o =23 FRRERIREAFPEED 2 i 1 2 23 33, e e acanssm e I s R 55820255552 SEERRI3322E s R S S PRSI S EP it e S Y RAN 1845~1922 V FINANCIAL.™ SMALLEST APPLE CROP IN SIX YEARS SEEN Agriculture Department Gives Out Summary Predicting Greatly Reduced Yield. Prospects that the apple crop this year will be the smallest since 1021, and, excepting that year, the smallest in 20 years, are reported by the Bu- reau of Agricultural KEconomics, United States Department of Agricul- ture, in a special summary of the sit uation. Early Fall frosts are endangering the crop in some districts, and from an expected total of 26,200,000 barrels on July 1, estimates of the commercial crop have been reduced to 24,200,000 barrels, says the bureau. Similar re- ductions have been made for the com- mercial crop in Canada, where less than 3,000,000 barrels are expected. Total apple production in the United | States was forecast in September at | 123,600,000 bushels, or scarcely more | than half of last year’s bumper crop. FARM PRICES GAIN. } Agriculture Department neports‘ Largest Advances Since May. The general level of farm prices ad- | vanced during the past month from 132 per cent of the pre-war level on August 15 to 140 per cent on Septem ber 5, an advance of 8 points, accord- ing to the United States Department of Agriculture. This is the largest gain in a single month since May, 1919. At 140 the index is six points above September a_year ago and is at the highest point ‘since April, 1926. The rise was due to the advance in cotton and cottonseed, barley, rye, hay, hogs, | beet cattle, veal calves, eggs and but. | ter, the biggest factors influencing th rise being cotton and cottonseed, dairy | products and poultry products. RAIL TRAFFIC FALLS OFF. KANSAS CITY, October 1 (Sp- cial)—The Summer tourist traffic on| railroads running west from here is | reported to be about 10 per cent light | er than a year ago. The bookings for ocean travel in the offices of shippini | companies maintained in the Midwest |§ have increased and Winter cruises | are expected to draw heavily from this | wectior I8 MUNICIPAL BONDS Exempt from Income and Distriet of Columbia Taxes. Interest 5% to 6%. Bankers Bond & Investment Co., | 734 Southern Building Main_ 1596 " Prompt Aetion First Mortgage Loang Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Ine. Mortgage Money Loaned at Low Interest Rates Economie_ Conditions Tyler & Rutherford Loan Correspondent Mutual Benefit Life 1520 K Street ~ Main 475 H.R. Bryarly & Bro. —managers of the Home Life Insurance Company of New York, announce the, location of their offices in the H. L. Rust Co. Bldg., 1001 15th Street N.W., Washington, D. C., where they will be glad to continue their service to the insuring public and their policyholders. WESLEY CHURCH Connecticut Ave. & Jocelyn St. Chevy Chase, D. C. Services Each Sunday at 11 A.M, and 8 P.M. Good Sermon. Good Mus Come! First Deed of Trust Notes for Sale Secured by n-roved Real Estate in ti 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 REAL ESTATE LOANS 5Y, % FRED T. NESBIT 1010 Vermont Ave. Maln 0392 Money to Loan firet deed of trust on real estate Prevailing ini ommiseton. teres ind ¢ 120 Joseph 1. Weller *30,%sh. ¥ WE FINANCE ncome-producing oronerty Large Loans l- Specialty Current int rate and commission Higbie & Richardson, Inc. 816 15th St N.W. In Nearby Virginia 5 l Prudential /2 /0 Imunnte Co. oans Commonwealth Investment Co. 017 15th St. NNW Phone Main 262 Ist Trust Money to Loan Prompt, confidential service. Rea- sonable fees. N. L. Sansbury Co., Inc. 1418 Eye St. N. W. Main 5904 FIRST DEED OF TRUST NOTES On Hand Bearing 61§ % and 7% Interest In Amounts of $250.00 up See WELCH, Realtor 15th St. and New York Ave. Main 4346 Established 1899 No loss to an investor in 27 years. First Mortgage Loans Applications Invited at 5%% On Improved Property Construction Loans at Minimim Rates Glover & Flather 1508 H St. N.W. \When Is That \Mortgage Due? | Maturing First Mort- gages can be advantage- ously refinanced through us. {Loans made on Real Estate in District of Co- | lumbia and vicinity. Ample funds available. Lowest Interest and Com- mission. Promgpt Service THE COMMERCIAL NATIONAL COMPANY | . (INC.) Paid Up Cash Capital, $700,000 ‘ Commercial National Bank Bldg. 14th and G Sts. icrobe eekerr HEN Charles Louis Alphonse Laveran discovered the herma- tozoaire, the parasite of malaria, he blazed the trail for the identification of the life-cycle of malaria in. man and mosquito; for the proof that a protected section of a community could be safeguarded during an epidemic; and finally for the clean- ing-out of the malaria-infested swamps in the Panama Canal Zone. And when Swartzell, Rheem & Hensey Company discovered the out- standing ‘advantages which First Mortgage Notes on improved Washington properties held for investors, this time-tested organiza- tion blazed the trail for hundreds of small fortunes for its investors,» for hundreds of college educations, for hundreds of bulwarks against the unexpected expenses which accompany illness and unemploy- ment. These sound sceurities have never caused loss to an investor in all the fifty-eight years of Swartzell, Rheem & Hensey Company’s existence. Swartzell. Rheem & Hens 77- }Iofl{aye Bankers 157 St. ey Ca. W~ Washington. DC 58 Ygar: Without Loss to An Investor