Evening Star Newspaper, October 15, 1927, Page 15

A . BONDS IRREGLUAR DUE TO NEW ISSUES Prices Show No Marked Re- : cessions—Treasury Securi- ties Are Neglected. By the Associated Press. NEW YORK, October 15.—The ap- pearance this week of about $220,000,- 000 in new issues, most of which arrived in the past two days, created some further irregularity in today’s bond market, Investors gained confi- dence, however, from the promptness 3With which the new offerings were absorbed and prices showed no marked recession from the high level established in several recent sessions. ‘The payment today of some $300,000,- 000 in dividends and interest also con- tributed to the firm foundation under- lying bond prices. Sagging prices were more evident in the foreign group than among domestic mortgages. Profit-taking halted the advance of Polish 8s, which had begun a march to new high ground on the announcement that the new Polish loan had been arranged. French issues also loat ground, but some of the German obligations had good support. ‘Trading in domestic railroad llens ‘was rather desultory.. Slight advances in such issues as Seaboard 6s and Southern Rallway 4s were offset by ssSimilarly small declines in Chicago & Northwestern 4!3s, and Burlington 4%s. Industrials and Public Utllities were dull. United States Treasury obligations Teceived little attention. CLEVELAND, Qetober cial).—Movement of coal up the lakes 15 (Spe- continues very heavy. although the re- sumption at the Ilfnois mines is not credited with this trend. NEW ORLE. ‘The Celotex Co., maker of wall board, now controls over 30,000 acres of sugar land in Louis- .1"'.‘ and will plant this acreage to the new Poj cane, which promises to yield 25 tones to the acre, compared ‘with § to 6 tons of the old varieties of cane. The wall board is made from sugar cane pulp. DETROIT.—The shipment of 1928 models of the Buick cars so far this season has been well ahead of the dis- tribution of 1927 models a year ago. HIBBING, Minn.—The Shenango Furnace Co. has started spending $600,000 for development of its prop- erties on the Mesabi Range. About 140,000 cubic ya»ds of dirt and 150,000 gubic yards of rock will be moved to #ive access to new supplies of ore. EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. Suspiciously High Yields. In' appraising the value of a bond that seems.to be selling out eof iine one point of vital importance is the nature of the lien the bond carries. It| is true that earning power and mot | property worth is the first considera- tion, but if earning power is sufficient the bond will never sell at a price to bring it within the high yielding clas- sification. It is only when earning power falls | off and there is doubt about interest charges being paid that buyers begin « 1o look to the security back of the bond. If then the bond is whut is known as a debenture, that is a divect obligation, but not secured by mort- zage it does not look to be a bargain. Such bonds are in effect simply notes and their value rises or falls with the financial position of the debtor cor- poration. Even when the bond is| mortgage secured it does not follow that the security could be realized upon. The plant of an industrial corpora- tion is valuable as a going concern. If it has to be sold at auction under foreclosure it may not realize enough t4 meet the claims of the bondholder. On the other Find, if there is real estate which can be turned to new ‘uses the outlook is more favorable. In this same connection a study should be made of the prior liens, if any. This is of especial importance in the case of railroad bonds. A raflroad may go in the hands of (- receiver and still pay interest on ifs first mortgage bonds, defaulting only on the junior issues. There are many cases of that kind in railroad history. In fact, it is very rare for a large railroad not to continue payments on its first mortgage bonds though in receivership. Such bonds, however, seldom decline enough in market price to make them attractive. s S el CHICAGO $TOCK MARKET. By Special Leased Wire to The Star. CHICAGO, October 15.—Following 18 a report of today’s sales, high, low 4and closing quotations, on the Chicago ‘®tock Exchange: Royalty. . )bkr of.. High. Low. Close. den b dey 100 1090 log {370 1 -3 4 MRE 10 Glub_ Aluminum. 4K Commwith Ed 00 Gonsumers Co 60 Consumers Co vf. 20 Crane Co . 100 Fmp G & 00 Evans Auto 2 13 SEESBIELE d e 2 % = ZSTREEE - 20 6 ver ¢ 330 Md West 1 131 Mid W 800 Montgomer+ 1050 Morgan Litho 385 Nat Zleo P A W M : d 1% A, aky 100 Novadel Com 70 Piek Barth 358 Bos Siowor "0 0 ine 5.2 500 Seara-Rostmik " 4%, LaP s bt 00 arner .o 1% o3 % ‘ NEW YORK B Received by Private Wire UNITED STATES. NDS STOCK EXCHANGE Direct to The Star Offica Sales. Aigh Low. Con Gas N ¥ 5%, Consumers Pow &3, Cuba Cane ev Cuba Canecv 8s... Denver Gas5s..... Det Edison ref 6s.. 3 107% 10714 107% 9 104% 104% 104% 93% 93% 93% 96% 96% 96'x | 7 100'% 100% 100 | 8 1084 1084 108 | Dodge$s........ 109 #5% 856% 85% ! | Donner Steel 7s.... 1 97 97 97 | 3 119 118% 119 .+ 8108 108 108 .97 95% 95% 95% Hershey 538 . 2103 103 - 103 | Hoe & Co 6% . 2 99% 99% 99% Humble Oll 5s..... 20 100 99% 100 HumbleO & R6%s 8 102% 102% 102% | [1linois Bell 1st 58¢ 13 105'% 1056 illinois Steel 4%s., 1 100 99% .99% | Int Mer Mari .15 103% 103 103 Int Paper bs . 1101% 101% 101% Int Paper cv 6s. .104 108 107% 107% Inter Paper £d,6s.. 21 104% 1044 104% | Int Tel&Telef's % 4 95% 954 954 J Kayser £Co5%s 5 103% 103% 103% KanCP&L6sAG2. 1 1056 106 105 KanG& E16852.. 7 106% 106% 106% Lackawa S6850.., 13 101% 101% 101% Laclede G 5%s 5. 6 105% 105% 105% 17 105% 105% 105% 1 122% 122% 122% 3 99 98% 99 4 117% 117% 117% 5 99% '99% 99% .2 104% 104% 104% 3 106's 106'% 106% 1 100% 100% 100% 6 109% 109% 1094 19 101% 101% 101% Lorillard (P) 7 | Midvale Steel 55 5101 101 101 | | 4102, 101% 102 | Nor States Pow 6. 2 105% 105% 105% {PacGas& Eiss... 2108 103 103 | Pan-Amer Pete 6s. | Pan-Amer Pete 7s. | Phila & RAC & 1 68 Plerce-Arrow 8s. .. Public Service 6s. . 5 102% 102% 102% 1 105% 105% 105% 2 100% 100% 100% 3 95% 95% 95% 3 107% 107% 107% | Remington Arms6s 1 97 97 47 | Sinclair6sD...... 12_98% 98% 98% | | Sinclair O11 6%s... 11 94% 94 94l Sinclair O117s. ..., 12 99% 991 993 | | Sin Crude O11 68 2 100% 100% 100% | 1 9% 944 94% 10 95 95 95 i 6 105% 1054 103% | Standard O NJ 6s 7 103 103 103 Tenn Elec Pow 6s.. 7 107 . 107 107 |USRubIstrebs.. 27 94 93w 93w | USSteelsf5s..... 3 109 108% 108% | | Utah Fow & Lt 6s." 3 101% 100% 1004 | West Elec 5s. 13 104 103% 104 4 L12% 112% 112% 18 104% 104% 104% | 15 101% 101% 013 | 106% 106Y% 7 105% 105 105 | Westn Union 6155, | Westinghouse 53 | Wilson & Co 18t | Winchester A 7% | Youngstn S&T 6s RAILROAD. 3 'y At&S Fovt 4s 05-55 10 91% 91% o1y | 28 Un 1 Atchison gen 4s... 25 974 97% YT% #7518 Grosum AtlanticC L 1st4s. *1 97% 97% 97% 1 et AtanticCLocl4s.. 2 93% 93% 93% “50 Wolf Mig Atl & Dan 1st4s48 1 82% 82y 82y 1900 Wricle: 97 96% 98% 1000 Voliow 100% 99% 1004 Total sales. 27 00 s 104% 104% 104% s BONDS, & 105% 104% 104% soo0 By M Be SR 1l a3y " & 11 1094 109% 2000Chi C Rwy st bu &3 = &8~ &3 & 91 102% 102% Joo0 o Ehi%6se 1087 1047 108% |B&Orfimp 68 6 112% 1124 1121 i = {BXOPLEWY 45. 2 98l 96% 96 . 'B&OSWDOHSH0. .. 3 105% 10 105% - COTTON GOODS SLOW Brdwy & 7th Av 58 0% 0% 70% o scorer b AR Manhat 68 96 9% 954 EW YORK, October 15 (Special), | Bkiyn o AR —Cotton goods markets were slow at | BUt R& Pitt 4%s 9Th 974 9T the week end, with prices generally | Canad North 6%;s. 119% 119 1194 steady. Print cloths were unchanged Canad Pacdeb 4 87% 8T': 87T% ot 8% cents for 6ix60s and 9% cents | Can Pac 418 48 3 99% 99w 93N for 68x Raw silke were mod-| Centof Ga 68...... 1 102'3 102% 102 erately mctive at unchanged price Central Pacificds.. 4 Q41 94k 94% ‘ levels. Chesa Corp bs w 248 9% 99% . b v Ches & Oov 4%s... 2 100% 100% 100% !‘I..!I.l: ‘l;l:t.l “:'o' Close Ches & Ogné%s.. 9 101% Io‘_‘ 101% Lib3Ws... 110114 10114 10114 {ChiB&Qgen+s63 10 98 974 98 Libist4%s 510310 1037 1039 |CB&Qe%s7IB. 14 101% 101% 101% Lib2d4%s, 115 1002 100 1002 [Chi&ELlign6ss1 6 93% 98% 93% Lib3d ¢is. 26 10026 10023 10026 |ChiGt W 4369 3 73% 8% 3% Libath 4% s 129 10329 10326.10329 |CM&StPesz5cts. 5 67 61 6T US 3% 43-47 20 10117 10117 W117 |CM&StPdeb4scts 45 67 67 67 US4%sbs. 311330 11330 11330 |CM&SPevsledzcts 6 67 66% 664 Chi& NW gends.. 6 /95% 95% 95% | FOREIGN. Chi NW 41482037, 4 1024 102% 1024 { Sales. High Low Closo. | opy Rys6s... 11 824 82% 82% | Argentine 5s. . 1 90% 904 80%|cn RI&Prr4 36 954 951 9% | J 99% Y9N | ChITH&SESs... 5 100% 100% 100% | Ars Lotk 9 |ChiTHincRsho.. 1| 95% o son | el 44 2105 5 | Avgentine e 8. ... 9 99% ww 99y [Ch) DnlonElateds 2 108 10 “sou | Australia 5s 1955, u8 9_:\! '§ 2 105% 105% 105'% | Australia 58 1957. oT% 974 97 15 1oa% 104% 104% Austria7s........ 1 105% 105% 105 6 105% 105% 1056% Bank of Chile 6%33. 2 95% 954 95 $ 100% '90% 9o% 8 9% 99% | yna R R 6 1 98 98 98 5 104k 104% | cypg RR7%s..... 1109 109 109 4 107 107 38 105 105% | Del & Hud 1strfds 6 05% 95% 95%M U4 1144 |Del& Hudevbs3s. 1103 103 103 110% 110t | Del & Hud 6% 21 1054% |(‘F‘l llsr) 99% 99 { Den&RioG 43 4 95% 95N h 215 92% D& Rlo G tmp5s.. 10 100 100 100 Brazil Ts.. 98 98z | DRIoG WestSs... K 854 8ol 8o Brazil 8s . 106% 106% | Erlegen 4s. . . 26 ’(!'q ’! g % Bremen State. 7 102% 1027« | Frieconv és A 5 8w 8N ™ Friecvt 5867 wi . 22 96% 96l 9614 Sesudetatity.... o 108 1064 | prig Genesses R 68 , 1 114% 114% 114% CARDES SR a9gs:s b 102 102 | piagChne...... 66 95% 9% 954 Chile781943...... 8 101% 1014 101% | gp prynk stdb 6s.. 5 108% 108% 1084 e ¥ 109 109 | Great North 5%s.. 3 112 112 112 s Sk & o 25% 257 | Gr Nor gen 78 2115 115 115 Dopieow Janaiyin: 11 984 98% | g & Man ref 5s.. 24 102 101% 101% Sl S i 35% 984 | Hud & ManajSs... 61 92% 9% 92% Copenhagen 63s.. 14 100w 100y | T1u0 & MRS AL 8. .. Co - Lok 10wl 111 Cent 45 ..., 9 H 108™ 105™ | Int Rapid Tra 5. 8 Czecho 88 53. . 5 109 toau | Int Ban v o2ac. 6F Danish Munic8sB 1 dibs darn | 108 SR TRE-- Denmark 68 ol 1047 1047 '"'&n Noraaes.. 25 | Duteh East 1 6362. 21 105 1054 { 1" i o 1 Int & G Nor 1st 6s, 1 | Finland 7s. .7 10 :0‘0‘- :()m‘- Int RyaC A 58 72 > | Framerican 2 05 05% S o it | French 7s. . 27 108% 10674 | KanCity Term 4s.. & { French 7%s. 3 114% 134° | Lake Shore 4s 28. . -": | 10 110% 140« | Lake Shore4s31 .. § -4 97 97'45| Leh Valen ¢%s03. 1 2 1087 106% | Long Isrf 4s49.... 4 5 101 101 Louis&Nagh unf 4s 2 4 103t 103% | Louis & Nash 55 B. 1 1 96% 96% | Louis & Nash Ss. 9 1 100t 100% | Louls & Nash 7s... 3 2 103% 104 Market St7s40.... 2 B SE | MU Ry & LBas1 H Japanese és 3 52 9 92 . 2 Japanese 63;8..... 28 101% 1014 101% | M St P& SSM S4s. 1 s #9% 99% | M K & T adybs. . 5 7 99% 99% | M K&TorinssA.. 1 Mexico 48 10 5 24's 4% | MK& TEsC. 3 Milan 61s.... 25 92 92Y% | Mo Pacific zen 4= 13 Montevideo 7s. . 2 102% 102‘\1 Mo Pachis P77, 16 Netheriands 6s 5. 5 103% 103% by Sgia00m AbY 10 ¢ [0 Ta MR 4 A 1210 A 101% 101% 101% H Norway 6810431 1103 103 103 , Norway 6s 1944, 103% Vu A ¥ 18 l;\:‘,fi lggz 13:: :’v'rfli'&f.‘:-“',‘:' ; 7 96l . 3 14 1027 102% 102% 5 7 104% 104% 104% H 1108 108 108 K Poland 68 40...nn.. 54 B4% B4l 84 1 Poland 83 234 1005 100 100w 2 Porto Alekre 85.... 1 105% 106% 105% | 2 2 Prague 2 105% 10516 105% | Noreac s bredn. ., 13 Rhinelbe Un 7s.... § 11214 11214 112t | Northern Pac 5 Riode Jan 3= 1348, 1 108% 1034 103l | Ore Short Lrfsds. 16 Riode Jan 8547, 4 105} 105% ' - 9 2 924 924 | pennsyl 5s A4 12 1 106% 106% 106% | ponn eyl SOt H 2107 107 107 |peredaristists. § 7 2014 101% 101% | port R L P 62 47... 3 1 103% 103% 103% | o0 ) west el 4 3 1 100% 100k 1004 | gy Ark & L 4%s... 5 1113% 1134 1184 g, e SF pl4sA.. 63 3 104% 104% 104% 4 | 6105 104% 105 ~ Toho Elec Pow 7s.. 2 99% 99 99 9 Utd Kingm 5%s 37 12 105% 105% 105% 9 Yokohama §s..... 21 954 94% 94% 2 MISCELLANEOUS. 49 Am AgriChem 7 %! 6 1041 104 1044 1 AmSmit& R1stés 4 1021 102% 102% 15 AmT& Teltr bs 2 105% 105'% 105% 1 AmT&Tsf 5s. 69 105% 104% 104% 1 Am T & Tdeb5l%s. 2 108% 108% 1081y 1 Am Water Wks$s. 9 1004 1004 100%1 € 22 Am Writing Pap s 48 93% 93 93k 13 Anaconda 1st 8s. 5 104% 104'3 104% 26 Anaconda evdb 7: 19 109% 109 109 6 AndesCopdeb7s 43 1 107% 107% 107% 4 Armour&Co 414839 18 90k 90% 0% | .25 Armour Del 63%s.. .7 89% 8% 894! [ Atiantio Refinbs.. 1 1013 101% 101% 9 s otw 98 Barnsdall s 1940.. [ 975 971 973 ' Bell Tel Pa 3 107% 107% 1071 | Wal £ 106 “M"' 106 Beth Steelpm5s.. 6 101t 101% 101w | Wabash %375 s e Beth Steel 5%8 53. 12 101% 1015 101% | West Marvland 4s. 2 s 1018 thi% Beth Steel 8s. .16 104% 104 104 | Western Md 5% g ot Bkiyn Ed gen5s... 1 105% 105% 105% | Western Pacific 5s. 14 1 o BkiynUnion 5%s.. 21 220 220 200 |Whel&LErf4%s 1 94 94 94 Bush T Bidg 58 60. 2 103% 103% 103% | Gentral Leatnor 6s. 2 104 104 104 NEW YORK MARKET! Chile Copper 6 2 9% 9% 8Mu| oo s | Gon Cost 14 1 7 3% i .| NEW YORK, October 15 UP).—Rye firm; No. 2 Western, 1.07% f. o, b. New York and 1.06% c. i f. export. Barley steady; malting, 90 c. i. f. New York. Wheat futures med stead: domestic December, 1.32%. Other a ticles unchanged. ———e- INVESTORS GET $300,000,000. NEW YORK, October 15 UP).—Ap- proximately $300,000,000 will be dis- tributed today in dividends and inter- est by more than 300 corporations and the Unted States Government. In- cluded are many extra dividends. Federal obligations call for intcrest payment of about $146,000,000, inciud- ing $130,000,000 on rourth Liberty 4% per cent bonds and about $16.000,000 on Treasury 41 per cent bonds of 1947-52. The amount at this time of year is unusually large, SIMPSON OPTIMISTIC. NEW YORK, October 15 (P).— Prosperity will continue in the opin- ion of James Simpson, president of Marshall Fleld & sailing for Eu- rope. The crop situation in the West was greatly improved through good September weather and with easy money rates prevailing, he saw little cause for despair as both these fca- tors tended to create broad purchas- ing power. CHICAGO LIVE STOCK MARKET CHICAGO, October 15 (#).—Hogs— Receipts, 3,500 head; generally 10 to 15 lower than yesterday’s average; de- mand slack at decline; top, 11.90, paid for choice 200 to 210 pound weight; no strictly choice to 285 pound butchers sold; bulk desirable hogs, 180 to 210 pounds, 11.60a11.85; 250 to 300 pounds, 11.50a11.85; most 140 to 170 pound averages, 10.75a11.40; pigs steady; bulk, 9.75a10.50; packing sows, largely 10.00a10.40; estimated hold- over, 4,000 head. Cattle—Receipts, 500 head; com- pared with week ago, cholce fed steers steady to strong; in between grades, 50 to 75 higher; lower grades killing steers mostly steady; Westerns steady: butcher stock generally 25 /higher, spots more; low grade cutters steady to 25 higher; bulls, 15 to 25 highe! vealers strong, unevenly higher; stoc! ers and feeders, medium to good kinds, 7.50a8.50; best heavy steers for week, 16.80; medium weights, 14.60; yearlings, 16.76; best Western steers, 12.25; heavy heifers, 9.50; practical top cows, 8.75, few 0.00; bulk Western slaughter steers, 9.50a10.50; heifers, 8.50a9.00; cows, 6.50a8.00. Sheep—Receipts, 4,000 head; odd lo‘s, native lambs, about steady; fat and feeding lambs closing 25 to 36 higher; sheep steady; week' prices; fat-range lambs, 14.25; tive lambs, 14.00; slaughter wethers, 11.00; fat ewes, 6.50; range, feeding lambs, 14.25. P POTATO MARKET WEAKER. CHICAGO, October 15 (#).—Pota- toes—Receipts, 194 cars; on track, 422 cars; total United States shipments, 1,506 cars; trading slow, market slightly weaker; Wisconsin sacked round whites, 1.50a1.80. according to quality; Minnesota, North Dakota sacked round whites, 1.46a1.55; sacked Red River Ohios, 1.45al.5 Idaho sacked rurals, 1.60a1.70; sacked rus- sets, 1.65a2.0%, according to quality. ON GURB EXCHANGE Majority of Price Changes on Upside—Midland Steel Products Feature. BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star, NEW YORK, October 15.—There was nothing particularly impressive about the upward movement at the close of the week on the Curb Ex- change. Tie majority of price changes were toward higher els, but it was only special issues that 114 anything noteworthy. The mar- ket as a whole appeared to reflect the growing recognition that outside business conditions were not such as to warrant a general renewal of the advance in stock prices, and it was only issues where special develop- ments were pending that attracted attention. Midland Steel Products, continuing its rise of more than 4 points yester- day, sold into high ground in sympa- thy with pronounced strength in the preferred stock on the big board. Be- cause of the participating privilege by which the common stock shares in ad- di*ional earnings with the preferred stock, it was expected that share own- ers were in line for larger distribu- tions as a result of increased earning: United Light & Power “A" W dealt in in enormous volume, a block of 5,00¢ shares changing hands at the opening at 151, after which the price | went forward to a new high record. Paying almost 50 cents a share an- | nually, there was a prospect that ex- panding operations might put the “A” stock in a position to be entitled_to increaged dividend payments. Uni- versal Leaf Tobacco continued its up- ward movement and sold at a new top coincident with reporta that other prominent tobacco interests were in the market for the stock. General Baking “A” sold within a fraction of its previous high for the year, while Borden common advanced sharply to its highest. Rumors were current of a special stock dividend in Borden, but the main incentive for the buying appeared to be the merger prospects with the Reid Jce Cream Co. Shares of the latter company were moving forward sympathetically on the Stock Exchange. The new Investment Co. of Amer- ica 5 per cent series “A.” offered for public subscription Friday, was in ac- tive demand. The issue was offered at 97 and sold at a premium of more than 215 points today. Baltimore Markets BALTIMORE, October 15 (Special). —White potatoes, bushel, 1.00al.25; barrel, 1.50a3.25; sweet potatoes, bar- rel, 1.76a2.50; yams, barrel, 1.75a2.00; bea beets, 100, 3.00a uart, 10a20; 4.00; Brussels sprouts, q cabbage, 100, 3.00a5.00; cauliflower, crate, 1.25a2.00; carrots, 100, 3.00a4.00; celery, crate, 1.25a2.00; corn, dozen, 20a35; a"pll*. basket, 26a35; kale, bushel, 25a35; lettuce, crate, 2.50a3.25; lima beans, basket, 50a85; onions, 100 pounds, 90a1.65; peppers, basket, 26a 40; parsnips, basket, 35a40; savoy cab- bage, bushel, 35a40; spinach, bushel, 15a40; Tomatoes, basket, 25a50; pack- ing stock, bushel, 35a50. Apples, basket, 25a76; barrel, 2.50a 6.00, cantaloupes, crate, 100al.5 grapes, hasket, 156a20; Damsons, bu: el, 2. .00; peaches, bushel, 2.50a3. pears, bushel, 1.25a3.00; quinces, bush- el,: 1.00a2.00, P Dairy Farm Products. Live poultry—Turkeys, pound, 34a 4(; Spring chickens, 26a29; Leghorns, 26a27; poor and thin, 20; old hens, 20a 29; Leghorns, 15a18: old roosters, 15a 18; ducks, 23a26; small and poor, 17a 18; pigeons, pair, 20a30; guinea fowl, ea~h, 40a85. Eggs—Receipts, 617 cases; native and nearby current receipts in free cases, dozen, 40; strictly fresh, dozen, Butter—Good to fancy creamery, pound, 44a48%; prints, 48a50; blocks, 47a49; ladles, 36a38; rolls, 33}5a36; store-packed, 3314; dairy prints, 33%a 86; process butter, 40adl. Hay and Grain Prices, Wheat—No. 2 red Winter, export, 1.88%; No. 2 red Winter, export, 1.35%; No. 2 red Winter, garlicky, export. 1.3615, No. 2 red Winter, gar- licky, export, 1.34; No. 3 red Winter, garlicky, export, 1.33%. Corn—No. 2 yellow, domestic, 1.06a 1.07; cob corn, old, 5.50 per barrel, nominal. Oats—No. 2 white, new, No. 3 white, new, 575 oats selling 2 and 23 bushel over new oats. Rye—Nearby, 95a1.00. Hay—Receipts, 14 tons. New hay is arrlving in only limited quantity and in somewhat irregular condition. It is, therefore, not being officially graded and wsells strictly on its merits, within' range of 14.00a16.00 a ton, timothy and clover grades. ton; No. 1, ont/ straw, 10.00a11.00. RECEIVERS NAMED. U. 8. Moves to Foreclose Mortgage on War Town of Nitro, W. Va. CHARLESTON, W. Va., October 15 (#). — Receivers for the Charleston Industrial Corporation were appointed in Federal Court yesterday and the Government flled a bill of complaint in a move toward foreclosing its mort. gage on the war-born chemical town of Nitro, which was purchased by the Industrial Coryontlon from the Gov- ernment in 1922, The Government's bill of complaint alleges that the corporation, a real estate concern, owes approximately $950,000 of the purchase price of SPECIALTIES CLIMB | D. C, SATURDAY, OCTOBER 15, 1927. Straw—No. 1 wheat, 10.00211.00 per | g, Nitro. The town, it was stated, was sold by the War Department for $8,000,000, ‘W. D. Payne, president of the Indus- trial Corporation, and J, E. Campbell, an attorney, were appointed receivers for the corporation, ————e WOOL MARKET QUIET, BOSTON, October 15 (Special).—~The raw wool market closed the week quietly, reflecting resistance of buy- ers to advanced price: Fine terri- tories are ih best demas Fine terri- tory combing, clean basis, was quoted today at 1.12 to 1.15, French combing at 1.0521,08, half blood at 1.03a1.05, three-¢ighths blood at 93a95 and quar- ter blood at 83a85. Ohio grade fleece, grease basis, was quoted at 46a47 for fine and half blood and 46 for three- eighths blood and quarter blood. PROFIT SHOWS GAIN. NEW YORK, October 16 (#).— Island Creek Coal Co. produced 2,206, 712 tons in the third quarter. Net profit rose to $1,109,072 from $623,689 in the third quarter last year, and for nine months this year to $2,825, 743 from $2,041,036 a year ago. — FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Closing.) Rate—Maturits Bid. Asked' “Vield: B8 May 104i-31.., 108 5 i o v 03 555! 25335325352 bttt PO e e 253 g e 3 5 20 3320 e 20 D10 2 DA NI T D © PEEESSEEr] » # oend et - e ST N O N X0 SO - S, 27 e it Am m Am I & Trac. m Am A Bor 2 Brit-Am NDUSTRIALS, L High. 3 R o o i ot e Bhatien S8 2 SRR G n Bt PR i ST e 3 DR “Co ¥ paid ‘ob Cou BB e e et e FEE H uneo Pres ‘urtiss_Aero PEEE B FEEE Bar Base na ST _. 3223382 FEEPR PSR SRER R AR RS 193! FRFLEEF R 55 (e 20 % i b i 255'"..,.3‘ Sooren: ha% 1 Grand Stores ‘'5id 133 2 Printing 31 4 Hapoiness ¥ poery - 2 i S0 -3 297 3 Noranda 31 Ohio Con HE e o o 3 ‘ech 1 1 4 Uni Verd 27 18 Wenden 1k % o s ) = £33 S 3 Wess O A2 o 3 amanans 13 3 7 ¢ 3% 33< 1 E - » - DR e B ERat I SEE LR EY: Za WA RN R R in - Bkiyn 201 ton Arms 1314 Rk piw. 253 ™ Thra n Hugop. ... tromh Carls’ Tel tute Mot ., -lc, it Ax! on . 5555 3 5o 335 =R oSozracay $ Sn a7 Sn pf. 101% ) (. ST 2RE! ) Py S2RRER.8S R R AR ¥ (ore) Secohas Pt B BT EC S 2 oy PR PP ity =~ S S Snaras: S ARE R R 2 - o . g ommmicDe B EREE S BDREe DD FER R ER PN LR A P e R St 2 ao MINING STOCKS. o5 i HESMI R AR R O BRIE S FEEE W % 3 B e a9 Sale D] s i‘un M:PEHDINT OIL STOCKS. $0Am Con oilfds 8 City Serv n oty Colum| “m'd'. ot B 20011l P L. 164 R Trarisit 4 0 O 50 ri Fonn 500 Vaddum Of o ot %fi!f}:flc nors 'Zfo&“ 5 Alum Co Al r?, o1 13 Am Gae b Bl '0s. §1 ihAm 8% 47009 187 10 Am }83 14 4 ok A% e B Beil " 103 18 m.s:g 5% Can . DAL ~ 3% g-m. $ L 103 8C°% o4 e o350 ] i 1 £ 1 EEEEE 60 {02 . 2% RS S REeR IS 3BT I 23 S =22 - > h FERR BRSES SPER FEE SRR RRPGERE R N R R RERSE [ 25! = _ozs5oacss 8 Cosero M C G%s 087 084 06% 00 seeppr & 100 1000 oo Close. 100" 100, 100 il 3 fs Hx He 184 % PRy 98X 98 i F 8% o34 §.;ns 12 ol% 101% 101 14 BEoh ¥, 1903 10014 100% 180 nd P & L 6 A 00%% 991a D9ix 159 1Inter N0 0 ww 102 1§':‘v. 1026 hier P8 . ? 3 Dby bRy 90 sin | 08 hirste Por 0t BRY GAK B 42% Jeddo “l?h C fl* 104 1‘*{ 115 Kem Null B 6s. 122 122 1 1156% Kop Gas & C b OBY, 08l 9 20 Laclede Gas 53481008 1003 100% 23 Leh P on A°- 103 1028 103% iz th Nk &' 703027 10203 102 o’ Star Gas bs. 07 T 07% ong 100 99 29 100% 100 mnz mx% « 98 98 10042 100 100 100 104% 1 3 1057 1 h z 103, 1 7. 128% 1 ' i g 215 1023 102Y 2 01 1002: bt a 02% 1028 107 0i% 104% 104% a4 Tpain aeid 0314 103% % 09 5% nnz % o8 o7 23% 23 % : a3 He B8 0" 1 287 108% é 28 b 5 % ; r B3 84 i L "A M 90 98% 9B 8% 7 98 98 el i g B2 B3 ¢ 1 i adle %m 12 Batavia Pet 4%s VIR 24 22 7 Brazil 6%s n Wi 9 o 92 133% | 19 Bue Alree 7 90l g8% 908 3 15 Bus Aires 7 97 71 97 (T 100 100 20 50% 1 00 100 100 120 [ 90 80 90 19% 2 o1, 191 101 i‘ k] 99 “ 29 By 5 088 987 08 0 18 09 v 09 & a0 1 93 937 93 IR E A R R g R 28 $iomnard, 2ot B3 078 3% T 1 Meridion 4% 8i% a4k 25 1Mor B 00% 1003 100 15 11 Peru 7 987 "974 98 gsa Rl o gy 813 a7y 4 11 sax mflk 100 2% Sax 8 974 97 b 42 Serbs 2 a8 a8 18| 18 stinnes 9% 99 109 asunt7e 3 ww o4 03 93 o 0 fof Bieg' € e A 1011 10041004 L1808 W 8%s A 07R 97K 077 #| sExdividend. % o oo S s Zonatdig e » - zaas EEF FEER Besar e - e 19 a3 1 B i ) 195 333 WERSE SR Do subes .Y & s 7 £ 3 7 i H 7 7 p 4 00 13 24 ifi 25 ps i 20 14 H 8 1 8 1 0 1 & ¥ 2 ERSREIDS EER et Following s the list of bonds and stocks traded in on the New York Curb Market today: % - 5 »: R38R & COTTON ADVANGES AFTER EARLY SAG Trade Interests Credited With Buying on Decline and Prices Snap Back. By the Associated Press. NEW YORK, October 15.—The cot> ton market opened steady today at a decline of 10 to 24 points under further Southern seliing and liquidation, pro- moted by unfavorable Liverpool ad- vices and a favorable view of the weather outlook. Trade interests were credited with buying on the early decline to 20.45 for December, however, and the mar- ket firmed up shortly after the open- ing on demand from this source, and covering for over the week end. By the end of the first hour December had advanced to 20.64, or within a point of yesterday’s closing quotation. Private cables said there had been hedging and Bombay selling in Liver- pool, with offerings absorbed by trade calling and London buying. The amount of cotton on shipboard awaiting clearance at the end of the week was estimated at 164,486 bales, compared with 240,231 last year. o LEAD PRODUCTION. NEW YORK, October 15 (#).—Sep- tember production of lead {in, the United States and Mexico comprised 71,380 short tons of crude; 70,517 tons of refined and 498 of antimonial, the American Bureau of Metal Sta- tistics reports. Output for August was 79,002 tons of crude; 77,228 tons of refined and 1,272 tons of antimonial. Stocks {n both countries held by mem- bers of the institute were 37,221 tons on September 30, a decrease of 5,968 tons under the month before. ». 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 h1 -est—investigate. o TREASURY CERTIFICATES. (Revorted by J. & W Selizmap & Co.) Bpte—, ofer. 2 {3 14 33 133 Bid. ’ 190032 100 1 5 3132 160 99 31-32 SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) lose. id, B EERIE T SRS Abimy S0 gohmer- 35 1982 3 atavian Fet, alifernia Bet. C i . Ry. o Sl 3225225232238 ey 2333838332232 s Sooa0! SS2238: SREIST ' SEEEES 'S oy 2 et Dbt e el it bbb T3t 2222333 28 Sies - 2222233283832 e e e 038 8 100 *EESFEFL P ER P e — BOSTON STOCK MARKET. By Special Leased Wire to The Star. BOSTON, Oc:ober 15. a list of today's highest, low cloli;xg "l"f‘i. l(,or the most active stocks aeal in here: ‘High. Low. Close, Am Tel & Tel. 3 f‘g’gi 1&" % oin PASSES DIVIDEND. Prairie 01! Board Gives Cash Con- servation as Reason. INDEPENDENCE, Kans., October 15 UP).—Directors of the Prairie Oil & Gas Co. voted yesterday to pass the October dividend, explaining merely that the action was taken to conserve the compan: cash. The Prairie has been buying and storing large quantities of midcon- tinent crude oil during the period of overproduction and low prices since the Seminole area was opened last year. Steel storage tanks with a capacity of more than 7,000,000 barrels are being built by the company in the Seminole and other areas of the mid- continent fleld, —_— It is estimated that more than sev- en million sheep have died as a result of the protracted drought in Queens- land.” Many farmers are faced with and RanNmaLL H. H GNER THCe(BOmS e MORTGAGE LOAN for LOANS on reasoning pertains. comes down, | FINANCIAL, THE EVENING STAR, WASHINGTON, FINANCIAE. v — THE EVENING STAR WASHINGTON, D. O, B e e e o NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office Let Us Help You Refinance | —that First Mortgage that's about to mature. T We make loans on Real Estate in District of Columbia and vicinity. Ample funds available. Lowest Interest and Com- ‘mission. Prompt Service THE COMMERCIAL NATIONAL COMPANY INC. | Paid-Up Cash Capital, $700,000.00 Commercial National Bank Bldg. 14th and G Sts. The New York Life Insurance Company Offers to Make First Mortgage Loans On Improved Resl Estate in the District of Colun.bis Nearby Suburbs in Montgomery County, Md, for 3, 5 or 10 year terms on your Office Building = e Apply & CoMPANY CORRESPONDENT 1321 Connecticut Ave. Telephone Main 9700 APPLICATIONS INVITED IMPROVED PROPERTY Located in the District of Columbia and adjacent Suburbs in Montgom- ery and Prince Georges Counties, Md. — Apply to H. L. RUST COMPANY LOAN CORRESPONDENT Ghe PRUDENTIAL INSURANCE COMPANY of AMERICA 1001 15th Street N.W. Main 6388 When It Rains who gets wet? The fellow who has no protection! While the other—the man of foresight—is safe against the storm. 7 Physical or financial storm—the same The man who saves and invests in sound, profitable securities is' prepared to weather such financial squalls as less of employment, illness in family, or disability through accident. Securities offered by a house with a fifty- eight year record of no loss to an investor merit your serious consideration. are real protection—when the rain They Swarizell,Rkeem & Hersey Co, Mortgage Bankers' - 727151 Street, AV, WashinglonDC. 58 Years Without Lost to An Investor FIRST Over a Third ofa Century Without a Loss Mairi 2100 ALL PHASES OF WASHINGTON REALTY DEVELOPMENT —have been under our close ob- servation for over a Third-of-a- Century. We have profited by our experience. that investors in our 69, FIRST MORTGAGES —have never -suffered loss of principal or experienced disap- pointment in the matter of in- terest payments when due. B. F. SAUL CO. MORTGAGES The result is 925 15th St. N.W. THERE IS NO SUBSTITUTE FOR SAFETY