Evening Star Newspaper, October 18, 1927, Page 15

\ { FINANCIAL. TRADINGLIGHTER INBOND MARKET Some Issues Sag, While Firm & Tone Is Shown by Other * i “h#y Obligations. BY CHARLES F. SPEARE. Epecial Dispatch to The Star. NEW YORK, October 18.—Certain 4ndustrial and railroad bonds were af- fected today by the periods of weuk- ness in stocks and were oft from 3 to N. and were apparently under accumus Jation. The volunie of trading de- creased with the lower price level. ‘The chief declines were in the is- wues of sugar, automobile and inde- dependent iron and ‘steel companies. None of them was very large, with the exception of that in Dodge 6s, Which amounted to % when these bonds broke to a new level under 8413, This compares with the high of the year of 96 and the best of all time of 100. At today's low figure the bonds yielded nearly 8 per cent. Reactionary Issues. Another issue which has been under pressure recently was that of the Beet Sugar Co., whose 6 per cent con- vertibles, due in 1935, have declined to 90. This has occurred along with the recent weakness in the Cuban Cane Sugar convertible Marine 6s were reactiona: some of the bonds of the cil produc- ing companies. Also, United States Rubber bs, and Goodyear 5s, Armour & Co. 43s, Lackawarna Steel 5s and Interna- tional Paper 6s. were fractionally higher. The local tractions were ir- Tegular. Received by Private Wire UNITED STATES. (Saies are 1n $1.000 ) High Low. 114 101 14 22 1038 1038 54 1002 1002 51 100 26 100 24 50 10330 10327 26 10119 10116 1062 1061 55 1144 1141 FOREIGN. Sales. High. Low. Clore Close. 101 14 103 8 1002 100 24 103 30 10116 106 1 1144 Others exhibited a firm tone { p 20 106% 50 102% 3 102% 2 106% 1102 6 101% 36 109% 5 109% 4 25% 12 98% 12 96% 4 100% 3 101% 33 106% 3 108% 21 108% 2 111% 9 105 2 103% 4 105% 3 105% 2 108% 13 95% 7 1004 4 104% 1024 10214 106% 102 101 109 Bremen, State, 7 Canada 681931, Canada 68 195 Canada 6%s 1929 Chile 78 1943, Chile8s 1941, Chile 83 19486. . Chirese Gov Ry 5s. Con Pow Japan 7s. Copenhagen 6s ct. Copenhagen 5% 95% 100 104% Highest grade raiis acted better, in spite of the 41 per cent renewal rate. Atchison 4s, Union Pacific 4s, North- ern Pacific 4s, New York Central b8 and Big Four General 4s were all strong. The New York Central sue, at 1093, gives a_yield of 4.60 per cent, and is still under the market * v for bonds of this type, some of which ! | i have been selling at premiums of from 10 to 12 points. Among the lower grade rails there” was a softening tendency, with Florida East Coast Line 5s at the lowest of the year and Josses ranging from % to % in Mis- souri Pacific 4s, Denver 5s and Chi- cago & Eastern Illinois 5s. Polisit Bond Issue. 95 106% 8 114% 56 110% 119 107 German Agr Bnk 7s 23 101 . 3 100% 106% 114% 110% 110% 106% 106% 101 101 100% 100% 102% 102% 9,8 98% 9% 9% 1% 91% 101% 101% 102% 102% 103% 103% THE EVENING | NEW YORK B ONDS STOCK EXCHANGEl Direct to The Star Office. Sales. High Low. 1139 138 1103 Close. 139 103 101% 105 White Sew Mch 6s. Willys-Ov 6%s 33, Wilson & Co 1st 6s. 29 101% Youngstn S&T 6s.. 5 105 RAILROAD. Atchisonad) 4s.... 4 92%4 Atchison gen 4. 33 97 AtlanticC L 1st4s, 2 AtlanticC L cl 4s. 22 Atl & Dan 1st 48 48 ]l 24 97% 9f 104'% 104% 109% 102% 9 112% 96% 0% 96'a 100‘ B&O PLEWY 43, Brdwy & 7th Av 68. 11 Bklyn Manhat 6s.. 61 Can Nat 4138 30 1 Canad North 6 6 1 Canad Pac deb 4s.. 18 Can Pac41%s846.... 6 Car Clinch & O 3 Car Clinch&0 6362 5 Cent Pac 1st 68 90.. 1 Chesa Corp 6s wi.. 39 Chi & Alton 3%s... 28 Chl & Alt 3148 ctfs.110 ChiB&Qgen4s53 5 CB&Q4%s77B.. 7 ChiB&Qistrebs. 4 Chi& E Ll gn 6861 30 B CM&StP deb d4scfs 12 CM&StPgnals. 2 CM&StPri4tks. 2 CM&SPrf4lsce.. 24 CM&SPcv4Y;s32cts 52 CM&StPcv5s... 10 CH&SI; cvbzcfs 14106 Jersey 6s. Erlo (Pl) cit tr 4 ECbs1. i weakness which WHEAT AND CORN SAG ON WEATHER REPORT Three Grains Drop to New Low Prices for the Season in Trad- ing at Chicago. By the Associated Prees. CHICA October 18.—All deliv- erles of wheat, corn and oats reached a new low e record today for the 1927 crop. Free selling from commis- sion houses dislodged standing orders to let go of wheat and corn holdings at various fixed limits in order to stop losses on the downward swing of the market. Lack of adequate buying support contributed to the general was influenced by reports that conditions now favor threshing and movement of the Cana dian wheat crop. Declines in wheat values today were in the face of estimates that export business from the United States yes- terday totaled 1.000,000 bushels, actly double what had previou been estimated for the whole of N h America. On the other hand, bears gave emphasis to word of improved conditions for threshing in ada, large visible supplies in the United States and to bearish crop news from Argentina. Contrasting with reports that fa- vorable weather for threshing is now prevalent in Canada were current ad- vices that less than half of the wheat grown in Saskatchewan this vear has vet been threshed. It was added that this means more than bushels are still in the fields and that there is not a possible doubt the grade has been lowered during the long de- lay caused by wet weather. WHEAT— High, Tow December . ..... % 3 1004 POTATO MARKET STEADY. CHICAGO, October 18 (#).—Pota- toes—Receipts, 164 cars; on track 539; total United States shipments, 1,439 cars; trading moderate, market steady; ‘Wisconsin sacked round whites, 155a 180, mostly 155a165; Minnesota, North Dakota sacked round whites, 155a160: sacked Red River, Ohios, 150a155; Colorado sacked brown beauties, 170a 175; Idaho sacked russets, 165a200, ac- cording to quality and condition; sacked rurals, 160a165. EPORT OF THE CONDITION REPORT OF THF S United States Savings Bank Washington. in_the Digtrict of Columbia, A e those ‘0T usiness on October 10. 10 ceptances of other hanke and foreign hills of ex. change or drafts sold o i Jeith indorsement o "s1.804391.10 Amount _due n - State Danke. bankers and trust companies in_the United States (other than uded In item for 50.155.53 7.826.18 50.070.40 0,000 00 1l TI Capital stock paid in S100.00000 Surplus _fund 2l alndiv profita b Resery clens current €xpenses paid — Amonnt due i hanks & 6.646.12 a Amount_ " dio banks. hanker 'md _trust Al 16.553.30 1.173.86 5.476.53 Than bank deposita) s fect to reserve (deposits Pavable within 30 d Individual 100,000,000 | 33, 1 deponits Fotal o8 demand denosits ‘ther than bank depos: it mublect *t6 “reacrve. teme 93 and gilia s47.00 Time _deposits subject "to reserve (pavable after 30 days. or subject to 30 dava:or more notice. and postal savings) Savings ‘depa (includ ing time certificates of deposit other _than money _borrowed. 3. Bills payable (includin obligations _representing money__horrowed oth than " rediscounts) 1.500,025.04 50.,000.00 0.070.40 1. WILLIAM LASHMUTT, cashier of ihe above-named bank. do solemnly swear n‘m (hr-knhml:,ulalm’\;nl 18 frue 1o the best ge and belie Stadnidemd WM. R, DE LASKMI’V’I’P er. Subseribed and_sworn, to before me this 18t dax of October, 103 THOM PET’ Notary Poslic, shmutt, B Ly £ Partar. Andergon. Charten A" GuMlmNh Correct—Attest: Wade H. Cooper. STAR. WASTINGTON., D. €, TUESDAY. OCTOBER 18. 1927. REPORT OF CONDITION of the MUNSEY TRUST COMPANY at Washington. in the District of Columbis at the close of business on October 10, 10 RESOURCES, 1. aLoans and discounts, in- cluding rediscounts. * ac- ceptances of other banks and_foreien hills of change or drafts with indorsement of this han Qrerirafis” ikeciired 3. U 8. Government sect Usier owned Other “nonds curities. ete. Banking house . Cash'in_vault and ‘ariouni due from national banks . Amount due from Stata banks. hankera and trust Sompanies i the United Tml'yl "ot” . b Misceila . Other asset Total . 8.000.00 235.445.41 2761158551 307.463.70 ‘stocks, e’ owned. .. . 137.085.27 and a4 AoRnT ash items LIABILITIES. Capital stock p: urplus fund . a Undjvided profit; 2.000.000.00 500.000.00 $524.625.80 00.00 625.80 70451 taxes accrued . to natio eTess enrrent” expenses Daid Sk 35.409.86 50.000.00 . Reserved for terest. efe.. Amnllnl dus in- “Gue ankers an ies in the i @ Amm.m St nk P Unit 64.675.60 282.08 5.170.33 3 L mand denosits (othe Than bank depoits) b 1o reserv Al((‘l»()llll . 2.005.057.62 iie lens 0 dave (other® than " tor meney horrowed ) 3. Dividends unpaid ' umlud :\-mfima. of Heponit nm-r edhan” for money horrow of ums deposits Aubject to reserve. 35 .......$1.00 1.001.043.53 Government om-r securities sold - Linbilities ather than thoss e of Col . POPE, treasurer of the above. hank. do ‘solemnly swear that the fl:'&;’lei‘r'e"m"‘béf }m. 0 the best of my C. . POPE. uhscribed and for 4:5' ed and_ worn to b are ‘me- tais CHARLES hnnunxApnbl Correct—Attest: b o T. C. WILLL A. G LAMBERT. uv FINANCIAL, REPORT OF THE CONDITION of the INTERNATIONAL EXCHANGE BANK At Washington, in the District of Columbla. atihe close of business on October 1 RESOURC! o o it cluding Centances of other banka and forelen_ bills of ex- exchance or draf(s sold with " indorsement. n' this, owned. 116 871 an ures. . 148.020.58 24.745.84 56.884.45 el estate owned " than banking house. ... Cash in vault and amount 3.217.54 the mame city or town as reporting bank 4.924.42 Total of items ) DUIRY of eifs‘or t5wn of porting bank. . Ottier assets, 1t any. Total ... LIA . Capital stock Surplus fund penses paid. 25. Amount d banks . o kers and trust oy United Stal Certifieq . Cashier's checks nding Deimang deposits (other than bank deposite) subject {deposits Sble within 30 dage) ! - Individual | deposits subject 3 ,Dmdena- ur:ln 379.355.88 23.521.50 17.180.00 City of "“""{Yim RN, IR cashie AMV? named bank, do solemnly lwnr (hIl the kl:”g;! M""flmfl is true to the best m edge. " KnOReY AR udxl IR, Cashier. Subscribed and swom, 15 before ‘me. this by E] IAN l CARL. RS ol . gt J. SCHIAVO 5 éfi'"r | [ | | | b Can You Meet that Mortgage? f Maturing First Mort- gages can be advantage- ously refinanced through us. ¢ Loans made on Real Estate in District of Columbia and vicinity. Ample funds available. Lowest Interest and C. mission. Prompt Service THE COMMERCIAL NATIONAL COMPANY (INC. Paid Up Cash Capital, $700,000 Commercial National Bank Bldg. 14th and G Sts. TO INVESTORS —an attractive yield from a stock listed on the N. Y. Stock Ex- change. CHILDS COMPANY —Restaurants— “Over One Million Meals Weekly” —and owners of val uable Real Estate in America’s Commercial Centers. Con plete analysis for free dis- tribution by personally applying at our offices. WRIGHT, SLADE & CO. Investment Securities Connecticut Ave. at De Sales Hotel Mayflower Telephone—Main 1581 MEMBERS New York Stock Exchange New York Cotton Exchange Aueordo FARA. PETER BORRAS. Chicago Board of Trade 106% 106% 99% -99% 101% 101% 102% 102% 102% 102% 103% 108% 96% 96% 96 96k 102% 102% 104% 105 108 108 834 83% 99% 100% 6 105% 105 105 3 105% 105% 105% 3 106% 106% 106% 13 115% 115% 116% 17112 111 111 WILTON " J. LAMBERT. The leading incident of the day in Directors. the foreign department was the issue of the $47,000,000 Poland 7s at 92. ‘With this the 8s broke below par temporarily and the 6s were lower. This is an interesting piece of financ- ing from the standpoint of the inter- mational participation in it, both di- rectly and from a collateral stand- Jpoint. Products by the leading cen- 'tral and reserve banks of Europe, as ‘well as the Federal Reserve banks of the United States, are to supplement the loan. An unusual feature of it is lha lyment at maturity at 103 in- of the usual price of par. n:.'h’a;u was further reuu‘or’n in :!a.b ues, with the municipal 6%s under 92, having lost 2 of the 5 points | njg i e T recently gained, and heaviness in 2106 106 106 other parts of the list. United States 102 920 91% Government 3%s were strong and the 3 118% 113% ll!% rest of the group quiet and holding 12 107 106 at about the previous day’s figures. 9 107 107 mq 5 101% 101% 110% Washington Stock Exchange 11 103% 103 103 3 100% 100% 100% SALES. Capital Traction Co.—10 at 111 v 43 984 971 98 8 105% 105 1054 ’12 10 at 112. 30 at 112, 20 at 11%, 20 at 2 104% luifi 104% & ac zuemc pid. 5%s—10 at 108, 5 e GtNor 41876 D., 3 14 Directors. Great North 5% 8 Money Available for FIRST DEED OF TRUST LOANS 6% Reasonable Commission Prompt Replies to Applications JAMES F. SHEA District of Columbia, Maryland or Virginia taxes up to 53 mills refunded : $550,000 Watsontown Door and Sash Company First Mortgage 61/2% Gold Bonds Dated October 1, 1927 Due October 1, 1937 Interest payable April 1st and October 1st at the Susquehanng T rust Company, Williamsport, Pennsylvania, and the Merchants National Bank, Baltimore, Md., without deductions for Normal Federal Income Tax up to 2%. Coupon Bonds in dmammalmn: of $1,000 and $500, registerable as to principal and_interchangeable as to demominations. Redeemable for sinking Fund on any interest date and as a whole on any date upon 30 days’ motice, at par plus a premium of 1% of 1% for each vear to maturity. Refund of State, County and Municipal Tax not exceeding 5% mills in the aggregate. Bonds are taz exempt in Pennsylvanic A Sinking Fund is provided equal to 25% of the Cam/mny.r net carnings-after deduction of bond interest and depreciation or a minimum of $25,000 per annum SUSQUEHANNA TRUST COMPANY, WILLIAMSPORT, PENNSYLVANIA, Trustee The following is summarized from a letter from Mr. W. C. Wagner, President of the Company: COMPANY—The Watsontown Door and Sash Company was incorporated in December. 1899, in Pennsylvania, and is en- gaged in the manufacture of doors, sash, blinds and other millwork. The business had its beginning in 1847 and since 1866 has been under the direction of three generations of the W agner family. The Company’s plant and main office are lo cated at Watsontown, Pennsylvania, on the main line of the Williamsport Division of the Pennsylvania Railroad. 1 Leh Valen 4%s 03, Long Is rf 43 49 Louts&Nash uni és. L&N 41452003, Louis & Nash 6%5. First Deed of Trus Notes for Sale Secured by I-upuvcl Real Estate i District of Columbi Principal and Interest GUARANTEED REAL ESTATE MORTGAGE & GUARANTY CORPORATION Ma.. 1403 26 Jackson Place Resources Over $4,000,000 L. E. Breuninger, President Real Estate LOANS Quickly Made Waggaman & Brawner, Frank. 7485 . 10 at ,E 106 - the .- fl 113% ll.% 113% 6 Tavest. pid=—109 2 l 0!'6 Qlli 8% 7 TT% ‘.:"55"" Grvmn Co. ptd—10 at 102, ’fo ma llnnnnu!!. l u’m u'm u'm 108 ‘ashington Gas Gs “A"—$200 at 102 td Kingm 63837 24 106 A','.‘.n ey meaa ) U4 eanm Corp 06, 23 "0 oo ‘ot Eleo. pfd.—1 Uruguay 8: « _2109% 109% 109% 9%, m:- o0 125 655 P51 o 5! | Yokohama € 35 94% 94k 9dk nmm.- Dfd. B4s—11 at 1057%. VgL D110 at 108, cnl v.'.—u x'mw.. Kfir ante' Stor. ptd.—10 Bebiles Drux Stores pld—1 at 117, Money—Call loans. 5 and 6 per cent. EREERRRER RRRB® MISCELLANEOUS. Ajax Rubber8s... 2 108 108 Am AgriChem 7%s 29 104% 104 AmSmit&R1stbs 13 Am Smit& R 6s... 108 104 102% 102% 102% PROPERTY—The Company’s plant occupies seventeen acres of land, is of thoroughly modern construction and well maintained. The buildings are of fireproof construction and the machinery highly efficient. The factory unit has 120,000 square feet of floor space and capacity for the manufacture into mill work of 70.000 feet of lumber daily. Improvemenu now nearing completion include 80,000 square feet of.additio nal manufacturing floor space, modern kiins and a lumber storage shed with 36000 square feet of floor area served by overhead crane. Two railroad sidings entering the plant, and concrete roadways throughout, enable the efficient and e conomical handling of raw and finished material. A fire- proof bulldms. sixty by four hundred feet, serves as a warehouse for finished goods. All machinery i is electric driven, the ;nmpanys prEner house, with a capacity of 1,000 k. w., furnish i ing the energy. The Company’s plant is the largest of its ind in the East. - 1043 104% 108% 109 & 107% 107% 90% 90y | N 891 90 102% 102% 102 102% 9T% 9% 105% 108% 101% 101% 101% 101% o Ine. 1700 Eye St. NW. 6% First Mortgage Notes Consult Us —for safe investment of your surplus funds. Look to the future by invest- ing NOW. We have specialized in the sale of such securities for 40 years. Wm. H. Saunders Co., Inc. Founded 1887 1433 K St. N.W. Main 1016 BUSINESS—The principal markets for the Company's products are the large eastern cities, particularly New York and Philadelphia. It enjoys the benefit of a favorable freight diff erential to these cities over its more important competitors, all of whom are located in the Middle West. Overnight shipments can be made from Watsontown to New York and Philadelphia. The Company’s business has had a rapid and steady growth. Gross sales for the calendar year 1926 were over $1,300,000, which shows an increase of 50% in four years and of 600% in twelve years. It is expected that gross sales for 1927 will exceed those for 1926. The volume of sales has been regularly limited by the plant capacity, it being necessary to refuse a large volume of offered business. The new addition to the plant will largely increase its capacity and should result in a rapid increase in sales volume. e 15 O~ ~OPPOR | —JOP JEPSTon 216 217 104 104 4% 94% 83 88 107% .107% % 92 92 POWER CONTRACT—The Company also furnishes electric energy from its power plant to the Borough of Watsontown for local domestic and industrial consumption. This power is sold under a contract extending to 1948, and affords the Company a profitable and stable source of income. The Company is installing an additional unit of 1,250 k. w. to take care of increased business under this contract, Ore Wash 1at ¢ Pennsylgen 4% Pennsylania gen [ Pennsyl 58 © ZR8e - SECURITY—These honds are the direct obligation of the Company and, in the opinion of counsel, will be secured by a first mortgage on all fixed assets now owned or hereafter acquired by the Company. The indenture provides for the issuance of up to $100,000 of additional Bonds, providing such Bonds are issued to an amount not exceeding 60% of the cost of property additions and providing net earnings available for interest are at least four times the interest on all Bonds outstanding, including those to be issued. ‘The American Appraisal Company has apprz:sed the depreciated value of the. Company’s plant, including buildings now under_construction as completed, at $1,223900. An appraisal by Messrs. Day and Zimmerman, Incorporated, as of June. 1, 1927, adjusted to_include the buildings now under construction as completed, indicates a value of $1452265 for the Company’s plant. Based on the lower of these two appraisals there is a property value of over $2,225 for each $1,000 Bond. CAPITALIZATION— e Authorized Outstanding First Mortgage 6% Gold Bonds, due 1937 (this issue) . .$650,000 $550,000 7% Preferred Stock . < o0 230,000 230,000 Common Stock. « 400,000 400,000 FARNINGS—Messrs. Hask: ountants, have certified the earnings of the Company to be as follows: 1924 1925 Net Sales . $876,452 31,209.331 Gross Profit 262,89 24,804 Selling, Administration and General Expenses. 109,459 139703 $153,447 wualnoaSE B8Rumac aw © - 9 o wSua alnind - 95% 95% 119% 119% 102% 102% 99 99% 995 99% 102% 102% 1056 105 102% 10246 ) Humble O & R 5% 1llinols Bell 1st o »-':.....n-.--am-ea-u ooy 3 - Int Tel&Teleg s & Sells, Certified Public Ac J Kayser & Co5%s 51 Kan CP&L 6s A B Kan G & E1 6s 6. Kelly-Spring 8. Lackawa 8 63 80, Laclede G 5148 52 Liggett & Myers b: Liggett & My Lor{llard (P) LoulsvG & E . Manati Sug sf 7%s. Mld-Con 6358 40, Midvale Steel bs. B wdw Continental Trust Co. 14th and H Streets Capital $1,000,000.00 5 " i 0G West c! &Arn 9% IM&SRAGH e n » t L 15 99 95% 95% 48, 8 y 98 ia st sss z S Checking Accounts Vo 90l 90% g: ithern Ry 63 26! 8 Avret 60% [ 99% l 9 B 1,991 158,805 Net Earnings before Depreciation ...... $ 163,186 Annual Interest on this Issue of Bonds. $ 35750 Average net earnings applicable to interest charges for lhe past four years are more than 4.3 times the interest charges on this issue of Bonds. Net earnings for 1926 are ‘approxima tely 4.6 times such charges. PURPOSE OF ISSUE—The procecds from the sale of this issue of Bonds will be used to retire the outstanding funded debt of the Company, for additions and betterments to the Company’s property and to provide additional working capital. MANAGEMENT—The Company has been under the management of the Wagner family since 1866. The Company will continue under the present management, which has been re sponsible to a large extent for the exceptional progress in recent years, 110,122 .. $138,143 $ 165,01 SAVINGS BANK. Boak of Bethesds E-“ asdgton ity Sav. & Soventn Sureet. Tnited St Washington Mechanics FIRE INSURANCE. Gom 13 Ranadoe 0mmeaNnean Savings Accounts Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Cheques Acceptance Credits Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. . 14th and H Streets WADE H. COOPER, Presldent Capital $1,000,000.00 N Y Edison s 44.. N Y Edison 6%s. .. NYGELH&P ¢s. - y SNaanamnRmmE~ Application will be made to list these Bonds on the Baltimore Stock Exchange Legal details in connection with this issue have been passed on by Mr. H. W. Chamberlin, of Milton, Pennsylvania, for the Company, and by Messrs. Janney, Ober Slingluff & Williams for the Bankers. WE WILL RECOMMEND THESE BONDS FOR INVESTMENT Price: 99 and Accrued Interest, to Yield 6% % 3.4. . Iglehart & Co. Inbestment Bankers MEMBERS BALTIMORE STOCK EXCHANGE 719 15th STREET N.W., WASHINGTON, D. C. E 1 Street Coal Excl Building Goft Bufldin, M&Phnun PholoRertn: VILRESDARRE, PA: CLARKSBURG.W. VA, WILMNGTON DL, ‘Bonds are offered for delivery when, as and if issued and received by us and subject to ap- proval by counsel. The statements contained in this advertisement are based on information ‘which we regard as reliable and muMWn- as a basis for the ,unhu. of the bonds for our own account. PacT& T 1st Gs... PacT&T Pan-Amer PhilaCo 5% 38 PhilaCorf6s A Plerce-Arrow Public Service 6; P Ser Gas 5%s 69, Punta Alegre 7s. Sinclair O11 100% lO“A BG’A 0 102 1 85% Wabash 6%875. Whel& LE L 4%s West Maryland 4 ern Md 5%, Wis Cen gn 48 49.. BIG STEEL MERGER. YOUNGSTOWN, Ohlo, October 18 (#).—A. two-million-dollar merger of six steel and tin plate companies of Northern Ohio was announced here today by Floyd A. Deal and associates, who' carried on the preliminary nego- tiations. The firms included in the combina- tion are Mansfield Sheet and Tin Plate Co., Ashtabula Sheet Steel Co., Falcon Steel Co. of Niles, Thomas Shoat Steel Co, of : of B22888 o 1 5 s Standard O!I N J b8 41 TREASURY CERTIFICATES. |Sug Gast Orlent s, & i (Reported by J & W. Dclilmm:l &Co.) ng - 7 P + o 13 15 108% 100% 1061 d06i| Go.” of "Niles, ‘Empire “Stee! mu’a 1oxu vnlnpd and WImll l'.ool 104 306 . Utah Pow & Lt ba. - Vertientes Sug 7s. w Sug 7 18 vyoming, Arkansns, Nevada, Ariz- 2 onn and New Mexico are now the only 1o swwwuww-» ! 4