Evening Star Newspaper, October 20, 1927, Page 15

FINANCIAL.’ 'HIGH-GRADE BONDS - STAGE RECOVERIES Municipals Share Advance. Easiness in Money Rate’ Bullish Factor. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, October 20.—The re- newal rate of 3% per cent for call money today coming after an abrupt decline yesterday encouraged i cer. tain amount of bond purchases, espe- cially those of the higher grade. They have been neglected for the past two weeks while money has been ruling at 4 per cent or more and many new issues have heen coming out in competition with the older ones. The effect of the casiness in rates was shown in fractional recoveries | not only in the highest type of rails Jana_public utilities but also munieipals. 1t is expected that finan ing By the Government as well as by the Farm Loan Board will take place shortly, in which event a season of low interest rates would be advan- 1agous. Tnterest Centers on Dodge 6s. Interest centered early in the ses- #on on the action of*Dodge 68, which went eff to 821 vesterday on trans- actions of. $300,000. After selling back to the previous low or 8213 they rallied abcve 83 with very much less activity on the rise than on the de- eline. There was some heaviness shown in Goodyear 68, in which sales Were made below 953 for the first | .time in over a week. New low prices " were also reached on several of the sugar bonds. There has been steady accumulation of Armour & Co., first mortgage 41,8, which today sold higher. than | fthey huve been in some months, With vield of 5.60 per cent and a com- paratively short maturity they show up well in comparison with some of the new and uunseasoned 433 per cent public utilities that have been re- contly coming out between 95 and 96. American Type Founders 6s were at a new record and well above their lemption price. ”'A’Amopn. thg listed public utilities the best showing was International Tele- 4%s. North American Edison nd Utah Light and Traction 5s. So far this month the financing by public utility companies has exceeded $200,- 000.000 of which a very large per- ¢ “centage has Dbeen for refunding purposes. Chesapeake 5s Feature. Among the junior rails the out- standing features were Chesapeake Bs back to par, Erie 58 above 97. Minneapolis, St. Paul & Sault Ste Marle 5%s and 61;s, Frisco 51s, Erle 4s and Chicago & Eastern Iilinois 5s. ‘There was a recurrence of the specu- fation in Italian government and municipal bonds with advances in them of 3% to 3. French descriptions gontinued heavy. There has been rather significant selling recently of wvarfous German listed and unlisted public utllity and corporation bonds with a number of them now at the lowest of the vear. It is expected that the Government financing may take the form of ecer- tificates of indebtedness and long-term notes. In anticipation of this, several .of the long Government maturities ‘were firmer today. Washington Stock Exchange SALES. Ba Ross 63—$1.000 at 97. $1.000 "r’.':«:‘:-"l ‘m&'::'“:‘o at 1‘11" : Potomac Electric org. Bs—4 at 112, ot Poiomec Elec. Did. 6%e—10 at 108%. 3 ie giee. nid. 2.2 at 112 ol e v YR 4 A u,‘-n." Ross com.—25 at 36%. 25 at erchants’ Tranafer & Storaxe pfd.—10 at 108 ohi d—10 at 102%. 6 at ‘ 102'1?.“1 103%. 10 at 102%. AFTER CALL.® 1, t 112 “snfluflfrflr:\h: ooz W ifou. 5 at Elerts 58—82.000 at 103 e Bt LAY 1 Gas 58—$500 3 ik | 10 at 112%. 1 Tracti 110, Fre Nations] Bank—10"at 563. Money—Call loans. § and 6 per cent. 10 TITLE INSUBANCE. ‘Title. . . ta Tiite v. Co. nf Md. cos Ly {-lmoll Mornotype jerchants’ Tran & onroaler Lineisne. - on . .5:'“! . & Inv. pid ty “Storare fabltary Crone ‘ashington Market. Ssh. Mech. Mige. ors nid. =~ 4 ar BE 35 Lord Coleridge, the distinguished English jurist who died recently, was burled in a coMn made of wood from & tree which he himsell planted in Mo youth, Shohdmi | Canada 58 1931. Received by Private Wire UNITED STATES. (Sales are in $1.000.) s High Low. Close LibSys... 101 14 10114 101 14 Libists4s 10311 1038 10310 Libzaay 2 1003 1001 1001 100 26 100 24 100 26 103 30 103 28 108 30 1143 114 14 FOREIGN. Sales. Hizh Low Close’ . 10 90% 90% 90% Argentine 6s Ju 59. 17 98% Y9y Argentine 65 Oct59 6 99% 99% Argentine 6s A 100'4 100% Argentine 6s B. 9L 99y Australia 58 1955 97 {8 Australia 58 1957 9T 97% Austria 7s. 6 1054 105% Bank of Ch 95% 954 Beiglum §s. . 991 991 2 10344 103% +106% 1067 Relgium 78 1956. Beiglum 7%s. Belgium 8. Bolivia 85 Bordeaux 68 Brazil 6128, Brazil 7s Brazil 8s. . Bremen, Sta! 1024% 102 1064% 101% 101 109 109% 102 108% 10174 101 109% 109% 25% 98% 96 100% 101% 105% 109 108% 1y Canada bs 1962. . Canada 538 1929 Chile 78 1943. Chile 83 1941. Chile 85 1946 Chinese Gov Ry 5s. Con Pow Japan Ts. Copenhagen bs ct Copenhagen 518, Czecho 8s 52 k Danish Munic §a B. Denmark 6s....... DE5%s Mch 53, Dutch East T 6s 62.« Finland s 68 45... Framerican Krench 7s. . French 7348 French §s. German El German 7s...... Ger Am Bank 78 Haiti 6s. . Holland-. Hungary 74s. Italy 7s. Italy Pub7s Japaness 63is. ... Jergens U M 65 47 Lyon 6 Marsel! 1 Mexico 4s 04 asntd. Mexico ds 10amntd. . 28 . 23 2 Norway b%s... Norway 6s 1944.... 14 Norway 68 1943.... 5 Norway 68 195 Orient Dev deb Paris-Ly-Med 6s.. Paris-Ly-Me Paris Orleans 7s. Swiss 5135 1946 Swiss Confed 8s. 13% 98% 7 118 105% 1 94% 13 94% 114 9844 7 18 1067 944 94% Utd Kingm 53s 29. Utd Kingm 538 37. Utd Steam Copen 6# ‘Yokohama 6s wi.. 14 26 THE EVENING STAR, WASHINGTON, D. C. THURSDAY, OCTOBER 20, 1927. Corvo v BONDS mezmcae] Direct te The Star Office. RAILROAD. Ill.l‘sflllh Ann Arbor 4s. . Atchison fd) 4s B&O1stbsect. B & O ref 5s. B&O582000D... B & O 6 B&O p 6: B & O Toledo 4 B& O PLEWY ds. Bklyn Manhat 6s. . Can Nat 4%s 30 Can Nat 4135 54 Canad North 6%s. Canad North 7s.... Canad Pac deb 4 Can Pac 4%s 46. Cent Pac 1st 55 90. C B & Q-Tll div 4s. Chi & E 11l gn 68 51 Chl Gt West 4559, CM&StPgn8)... C M&StP 4s 25 cfs. CM&StPrn4éys CM&SPcv4 4 s32cfs SP rf 4148 cf. M&StPevbs... CM&SP cv bscfs. . CM&StP6s..... 18 1 ChINW 41582037, 121 Chi & NW 7s 2 1 ChiUn Sta 4%s. Chi Unlon Sta 6% Chi & W Ind cn 4s. C&WI15%s62... 10 JCCC&StLbS....0 b CCC&StLrfésA. Cuba RR 5 Cuba RR 7 Del & Hud st rf 4s 10 Den & Rio Gends.. 4 Erie 1st cons 4s... Erie gen ds.. Erie conv 4s A. Erfeconv4s B Erfecvt 5s 67 wi Erle Genessee R . 39 21 <107 . b8 1 190 1 . 25 GtNor4%si6D.. 8 Great North 6%s.. 11 Gr Nor gen T Int Rapid Tran bs. Int Rap Tr 5s stpd. 36 Int Rap Tran 6 Int Rap Tran 7s... Int & G Nor 1st 6s. Int & G Norad 6s,. 3 IntRysC A 6s73,. Kan City Ft § 4s Kansas City 8 5s. . Kan City Term 4s. . Lake Shore ¢s 28 Lake Shore 4s 31. ., LehighVal con 4%s Long Is db 5s 34 Louls&Nash uni Market St 75 40... 1 Mo Pacific gen 4s.. MoPacisA65.... Mo Pac 5s F 77. Nassau El4s51.... New Or Term ds... NOT&M 5% MISCELLANEOUS. Am Agri Chem 73# 12 104% 104 AmSmit& R1stbs 5 102% 1024 16 104% 104% 99%, 104% 105% 108% 104% 102's 104'% 9954 105 105% 108% 100% 93 104% 109 107% 90% Anaconda 1st 68 Anacondacvdb7s. 7 109 Andes Cop Tsrcts. 5 107% Armour&Co 4348 39 20 90% Armour Del 5%s.. 46 90 Assoclated Ol 6; 1 102% Barnsdall 6s 1940 100% 1014% 101% 1 105% 217 1024% 104% Beth Steel rf 5s. Beth Steel 5%s 53. Beth Steel 6s. Bklyn Ed gen b8 Bkiyn Union 5%s.. 20 217 217 Bush T Bldg 5s 60. 7 103 102% Central Leather 6s. 1 104% 104% Chile Copper 5s 95 94y Consumers Pow 58, 1 104% 104% 104% 8 83% 83 4 Con Coal Md 1st 5 13 107 106% 106% 20 92 91% 9% 41 96 95% 95% 2 100% 100% 100% 73 83% 824 83% East C 37 104 103 103 Fisk Rubber §s. . 3 119 118% 118% Goodrich 6%s. . 10 108 107% 108 Goodyear 58 rets.. 218 95% 95% 96 Goodyear 8s 1941.. 1 119% 119% 119% Hershey 5% 1108 103 108 Hoe & Co 613 99) 99% 99% Humble Oil 58 100 99% 99% HumbleO & R5%s 3 102% 102% 10214 Illinois Bell 1st 5: 2 105% 108'% 105% Int Mer Marine 5. 9 102% 102% 102% Int Paper 5s 47. 26 101% 101% 101% Int Paper cv 6 65 107% 107 107% Inter Paper fd 10 104% 104 Int Tel&Teleg 4325105 96% 95% J Kayser & Co 5%s 58 103 102% Kan CP&L 58 A 52,121 106 105 KanG & El16s52.. 7 106% 1064 Kelly-Spring 8s 4 108% 108 Lackawa 8 55 50. 5 1013% 101% Laclede G 534852.. 1 105% 106% LouisvG&E6Ss52 5 103% 103% Manati Sug s£ 7%s 2 105% 105% Mid-Con 6%s40... 4 105 104% Midvale Steel 5s... 12 100% 100% Montana Pow 5s... 6 103% 103% Mor's&Co 1st 4%s 4 87 86% New Eng Tel &s 5 106% 106'a N Y Edison5s44.. 5 105 105 N Y Edison 6%s... 6 116% 116% NYGELH&P4s. 11 95% 95% YGELH&PSs. 2 1094 109% Y Tel4%8...... 2 100% 100% N Y Tel 65 4 4 108% 108% N Y Tel 63 & . 2 110% 110% North Am Edis s, 35 101% 101% Nor Ohfo T & L 8101 101 Nor States Pow 1 101% 101% Pac Gas & E! 3 102% 102% PacT&T 18t 3 103% 103% Pac T& T 5s52.... 14 105% 105 Pan-Amer Pete 65, 2 102% 102% Pan-Amer Pete 7s. 1 105% 105% Peoples Gas 5 7 103% 103% PhilaCob5%s38... 9 103% 103% PhilaCorf6sA... 14 104% 104% Phila & RAC& 158 100% Plerce-Arrow 8 Public Service 6s. P ServGas 5%s64. Punta Alegre 7 Sinclalr Ol 6x. Sinclair Ol 63 Sinclair O} s, 8in Crude Oil 6; St Pipe Line 5s. Skelly Of1 5%s Southwest Bell 51 Standard Ol N J 55 Sug East Orient 7s Tenn Elec Pow 6s. Toledo Edn 1st 7s. Cuba Cane cv 7s. Cuba Cane cv Denver Gas 5s. Dodge 105 106% 105% 1084 105% 104% 100% 103% 95%4 109% 100% 108% 110% 101% 101 101% 102% 103% 106% 102% 105% 103% 103% 104% 101 95 107 105% 108% 98% 1 105 105% 21 106% 106% .17 98% 98K 100% 93% 95 105% 102% 1 108% 109 107% 9% 104 109 100% 100 4 100% 100% 14 94 93% 28 95% 94 1 105% 105% 19 102% 102% 1100 100 2 106% 106% 17 109 107 Utah Pow & Lt 5&. Vertientes Sug 7s. West Elec 5s. . Westinghouse 7 100% 100% 5 100 100 6 103% 103% 10345 . 6 104% 104 1044 Wilson & Co 1st6g. 6 101% 101% 101% Winchester A 7348, 2 106 106 106 Youngstn S&T 6s.. 16 105% 105 105 NYCengeniy N Y Cent ¢s 98 N Y Centdeb 4s. NYCentrifbs.... NYChi&StL 534 8A. NYChi&StL 5%sB. NY NH&H 48 66 NY NH&H cv db 68 NY N Hav&H clt 65 NYOnt Wist4s.. NY O&W gen 4s 55 NYRys6sA65... NY State Ry 43;s. N: Y W & Bos ¢%s. BlulawerBe S88canrRavnmn weani 8s8re STy Northern Pacri és Ore Short L rfs 4s. Ore Short Licn §s.. Ore Wash 1st 48 Pennsyl con 4%s.. Pennsyl gen 4%s.. Pennsyl gen 5s. Pennsyl s 64. Pennsyl 6%s. Pennsyl gold 7s... Peo & E 1t 45 40... Pere Marq 18t 5s. . . PCC&StL5s B 75.. Port RL& P 55 42 Reading gen 4% Rio G West ¢l San A & Arn P & St L IM&S R&G 4 St L IM&S 4s 2! StL I M&S gn 5s 31 StL&SFpl4sA. 106 StL&SFprinss. 20 StL&SFadjés.. 43 StL&SFinc6... 12 StL&SFplésC. StL S Wcon4s 382, St P & KCShL 4 %s Seaboard A L 4s Seaboard AL 4s sta Sou Pac 4s29..... Sou Pacific clt 4s, Sou Ry Con 55 94.. +Sou Ry 63 56. . Southern Ry 6% Third Ave ad] 5; Union Pac 1st Union Pac Istrf 4s 1 Un Pac 435 67....138 Virginia Ry 1st bs. 20 ‘Wabash 58 76 B. 99% 108% 102% 104% West Marylan 86% Western Md i 48 101% Western Pacific 6 100 ‘West Shore 48 2361 5 91% WisCengn4s49... 7 86 - CAR LOADINGS DECLINE. Loadings of freight for the week ended October 8, as reported today by the American Raillway Association, aggregated 1,100,662 cars, a decrease of 38 cars from the figure for the previous week and 74,376 below the corresponding period In 1926. e S. P. HAS BUS LINES. NEW YORK, October 20 (#).—The Bouthern Pacific's new subsidiary, the Southern Pacific Motor Transport Co., has put a fleet of motor busses and trucks on_ the highways of western Oregon. Regular schedules will be maintained from Portland to Salem, Eugene, Roseburg, Ashland and other points. Busses eventually will replace all street cars in Salem and Eugene. It is planned to extend its scope to other parts of the system where motor bus service can profit. | ably replace trolley or branch-line steam service. 9% 85% RUBBER UNCHANGED. NEW YORK, October 20 (Special). ‘rude rubber, smoked ribbed sheets remained unchanged at today's noon quotation of 34%. This compares with 32% a month azv and 42% & eas ago. e BEARSHAVE EDGE IN CURB DEALINGS Prices Shaded in Nearly All Groups on Selling on the Buiges. BY WILLIAM F. HEFFERNA! Special Dispatch to The Star, NEW YORK, October 20.—While trading characteristics in the Curb Exchange today were quite similar to those which prevailed yesterday in that an early rally was superseded soon after the end of the first hour by an irregular trend, the market on the whole did not exhibit the general heaviness so noticeable in resent ses- slons. Renewal of the rate on demand funds at 31, per cent was a factor working for the stabilization of the trend in the early dealings. ow- ever, 314 per cent money did not bring about a marked change in sentiment | and as the session wore on it became more obvious that traders were in- clined to sell on bulges, with the re- sult that prices were shaded in prac- tically all groups. As has been the case recently, a few {ssues ran counter to the general trend. Vacuum OIl, in particular, ex- hibited pronounced strength with a rise of approximately 315 points to 132% on volume dealings. The issue was easily the leader of the Standard Oils and was in favor because of the belief that the time was almost at hand when announcement would be made of a stock dividend. Reo Motors was another stock to rule strong. It registered a new top on the movement when it sold frac- tionally above 26 for a gain of about two points, and was chiefly bought by Middle Western interests said to be close to the company’s affairs. Johns- Manville backed and filled, but Tubize Silk reacted and there were more losses than gains among other indus- trials. Cities Service did not respond to announcement ‘of record earnings and other independent oils were quiet, with the exception of Lone Star Gas, which made a new high for the year. Movements in public utilities were rather slow, although there was active trading in United Light & Power “A" and International Utilitles Cor- poration “B" reached a new peak. Glen Alden led its group with a gain of over 2 points. Newmont Mining was the bright spot in its section with a gain of several points. Bond dealings continued in moderate volume with price changes small. WHEAT IN DOWNTURN ON WEATHER REPORT Corn Also Tends Lower Due to Fine Conditions in the Belt. Oats Decline. By the Associated Press. CHICAGO, October Fresh downturns in price for wheat and corn resulted early today from con- tinued fine weather both over Spring wheat territory and throughout the corn belt. Predictions were current that rural marketings of wheat in Canada would soon reach 5,000,000 to 6,000,000 bushels daily. Starting at 3 to % decline, wheat held near to {initlal figures. Corn opened un- changed to 3% off and later receded all around. Oats were easy. Provisions tended down grade. Supplementing the bearish effect of auspicious weather for thrashing and movement of Spring wheat in the Northwest, advices were received to- day that crop prospects in Australia have become less pessimistic. Good rains were reported in parts of Aus- tralia and Liverpool quotations were lower than had been looked for, with Argentine offerings reported as show- ing an increase. To some extent the bearish influ- ence of prevailing excellent conditions for maturing the corn crop was offset at times today by talk of possibilities of export business in corn and of like- lihood that domestic husking returns would prove disappointing. On the other hand, New Orleans exporters were quoted as saying that Argentis corn is much cheaper. Unofficial e: timates were that Argentina still h: about 69,000,000 bushels remaining for export. HUDSON EARNINGS SOAR. Income for First Three-Quarters Nearly Double Last Year. NEW YORK, October 20 (#).—Net income of the Hudson Motor Co. for the first nine months of 1927, reported today, was almost double the figure for the nine months ending August 31 last year. This year's net, after preferred dividends, depreciation, Fed- eral taxes, etc, was $14,042,536, against $7,983,983 in 1926. Net earn- ings for the third quarter, $4,224,972, compared. with $5,791,048 in the pre- ceding quarter and $1.926,646 in the three months ending August 31, 1926. o CHICAGO LIVE STOCK MARKET CHICAGO, October 20 (P).—(United States _ Department Agriculture)— Hogs—Receipts, 26,000 head; better grade hogs, 225 pounds up, strong to 10 higher; 200 to 225 pounds weight, around steady; lighter weights, weak to 10 lower; packing sows. very un- even, steady to 25 lower; pigs especial. ly good to choice kinds, strong; spots, higher top, 11.80; bulk good and choice 210 to 325 pounds, 11.40a11.76; 160 to 200 pounds, 10.86a11.45; packing sows, 9.60a10.00; 10.25a10.40 for best light- weight; most pigs, 9.50a10.00. Cattle—Receipts, 12,000 head; fed steer trade, fully steady; better grades getting most tion; 17,25 paid for yearlings; some held higher; several loads yearlings, medium weights and weighty steers, 16.50a17.00; Western grass Steers up to 16.30; she stock about steady; bulls weak to 25 lower; vealers 50 lower; most sausage bulls, 6.2526.50; practical top around 7.00; vealers, 13.50 to big packers; few 14.00. Sheep—Receipts, 18,000 head; fat lambs fairly active rong to 15 high- er; most early sales of natives, 18.50; few 13.25; asking around 13.75 for several loads; good to choice range lambs, 13.75a14.00; choice Westerns held above 14.15; 100 to 130 pound b\;c‘ls lambs, 11.00a11.50; fat ewes, 5.75 26.50. 2 PRICES ON PARIS BOURSE. PARIS, October 20 (#).—Price were Irregular on the Bourse toda: 3 per cent rentes, 55 francs 5 centime: exchange on London, 124 francs 10 per cent loan, 75 francs 80 The dollar was quoted at 25 francs 473% centimes. o EARNINGS SHOW GAIN. NEW YORK, Qctober 30 (#).— Mathieson Alkali Works, Inc., earned $8.48 a share on the common stock in the nine months this year, against $7.30 a share in the same period of 1926, net income rising to $1,373,362 from $1,205,919. BUTTER UNCHANGED. CHICAGO, October 20 (#).—Butter unchanged; receipts, 5,260 tubs. Eggs unchanged; receints. 2.62¢ cases. Following is the list of bonds and stocks traded in on the New York Curb Market today: INDUSTRIALS. b Pick Bar vie ic Bar A Dt lum Co n % 3 " |} 07" 2SS - S ARRIEG! ). R o) - F IS S a2 2,25 350 . A2 gL, > 2otz 2eTELE e 580 i uburn Atito ‘Co. ancitaly Corp.. s In S CER o AT ety i 3 =233 » wtsiemai Laae o5 = 25 1 i (e IBOn 5885330, PEX R IS SER & w9 enmomeciie Bl x ) o St it s SN 2 SCaliobe 25RS 32! A = SRTRIE UL QPR 5 ' swoman PO o et R FRR 7R o Boeans S5 AR o293 55T E; EREE - > 3 DS o L - Fsn 10 1 Georgia Pow ‘bf 13 Glan Alden ¢ Hgold SenlEi n Bz REECIT FE 3 R SEFFS R DRI 0 A5 DU S BB Bt e B Sz BT 12esi3: 2 R R R S L SRl RS F s a2 RS aR AR S 3 3 R E RS e SR D £, E FEAAFRS y Teh Val C i Tib Qwens 535 W TRENERE AR Salos sh G11! o D B D | RIS 1109 D 13t et T n. Strs F3 orp Metro Chain Ml s Mi M AL AD 2 13 D B ot PO S - 1D B e SRERIRIBE E = Mi Mong Munieipal Sery. . at Da P nfd Nat El Pow 29193, * s icsa sl S R RS SRR SRR RREENAERRE “_;,...h i 2 o e ._ ool mm st 3332583522325 ¥ Bl pn 5 o - bba:; s S gt b e s S §388L0028 FEIGERRGS S u P & L war. uthw P&Lt ntd panish R P&P. 1o S e S 2o a0 - BSnSEESREREEEE] ) o e 15 it GO 53 £ :9=‘_ PS8 FRRE i oS o Lt iepe ek tet ) 277 &t P ascomas R ii:idi 2 g5 <4<gddaao: S S wo¥ DwmarraSwiun 5 g3344 ales i undreds. MINING STOCKS. 21 Am Explora 3 Aokl &'fi]u Gnker 17 Con Cop lewmont ipissing S Ao & $22E 528 PR EFRE FFE 8 _.n EEcwe = cwSe S s SO Sales STANDARD OIL 1SSUES. inunits. iz . Bt anoonic:: f o e RS " NEW YORK CURB MARKET Received by Private Wire Direct te The Star Office s s - S0m s pa0Son w0305 2EI2555 - ! P s 6000001 £ ) 200, 25335 - 3un: 22000200 SR B e Do 2w DD DD 55855 53 £33 3 J % RS 2095205 3050020025% 23R323233332333322 e FUERRS 223323323233222225 L eaa 2232330233285 85 25350 e ERe 0. EXcEE 3 :oos0D: EREEE =3 Gombm o 5 e 3 DOVRODOO Y, 99900 FEEEES CRARR RECER RN RSE RERSS L REERER SRR SEARR SIS SR SR 35235233 . rand Teunk 6355 100 ulf O Pa bs gum.g 1t O Pa e 471004 Ol & Gan 6a 9% R < 25100 2 n“-_ o e nv Cor Am 3 Wi 08 eddo W "Coul s 104 on G & Coke 5 K aclede Gas B8 101 high Pow fis A 10: b McN & L 7s 102 Y 9 b o e S Jor BRI, FoP ot Jofiriit D000 E 3% I RERER £ SETRE - o & “ T SRS @ =28 Eamalia 333333 £ FRI3F REFR sas;augaw = R 0! & FF b b .35 S22S oouone: 052, 5 SRRFIRIZRSIRIRIE: £ 7 257 e Nt B E 0 23555 5B D R A AR DS FEE [ 3! P ORRRRRCRITREE S T 000 00 333595323523 = 23353333253, 2353 S oans! i 23 35 23 W SEEESRREERRCR , FFERE A [ 3, w2 23 e o g .ufl-"uiu%! g ow 5148 A & 5%s '37101% 1 FOREIGN BONDS. k 7s '46 k 47 o095 555 B32222323 > Sgvoesd! 2352823 B, 1 wes Sates in thousands. 5Ag M B 10 A% M B 11 B P EREIERE seSozoons FEERE R oS =23 3 St r Cons Mun 7s 99 amburg State 88 anover State 08 9 i 25587 = O 223533233 FER FREE SFRFS - BoSo00o o505 SIS ot S FFE ez t i 2 s SR RRRE83533333238 SR S oozow 3 LEATHER TRADE STABILIZED. NEW YORK, October 20 (#).—The leather industry has stabilized itself materfally in the opinion of George E. Roberts, vice president of the Na. tional City Bank. “The reduction in the country’s excessive stocks of hides and leather is a healthy thing and is having its effect for the general good of the country,” he said. ‘Leather is out of the morass into which so many industries were sunk by, war and post-war conditions and can now be sald to be pretty well beyond the reach of artificial conditions except those arising out of the fact that the tanning industry cannot control the volume of its supply of hides.” NEW YORK MARKETS. NEW YORK, October 20 (#).—Rye barely steady; No. 2 Western, 1.07% f. 0. b, New York, and 1.06 c. i. £, export. Barley steady; malting, 89 ¢ i. f., New York. Pork firm; mess 34.5 family, 40.00a43.00. Tallow strong; special, loose, 87%; extra, 9. Wheat futures opened barely steady; domestic, December, 1.28%. Other articles unchanged. The SURPLUS and UNDIVIDED PROFITS $144,167,292.82 Due from State and Bank Buil Custom¢ Cash in Vault and in Federal Reserve Bank . Loans, Discounts and Acc United States Government M Bonds. . . Mhldmfl-fiul . Other Bonds and Securities FINANCIAD; PRICES GOLOWER IN COTTON MARKET Lower Cables and Better Weather in Belt Have Bear- ish Effect Today. Br the Associated Press. NEW YORK, October 20.—The cot- ton market opened easy today at a decline of 4 to 12 points under a renewed hedging and liquidation stimulated by lower Liverpool cable and better weather reports from the South. Stop orders were uncovered on the decline, and the market was unset- tled during the first hour, December selling off to 19.85 and March te 20.10 cents or 28 to 32 points net lower. Private cables reported hedging, with local and continental liquidation in the Liverpool market, and that cot- ton cloths and yarns were inactive, with spinners and manufacturers los- ing ground. Spot houses or trade interests were credited with buying on the decline here, but otherwise demand was at. tributed chiefly to covering. . After selling off to 19.76 for De- cember and 20.00 for March under the weight of the early offerings, or about 338 to 41 points net lower, the cotton market rallied some 16 or 18 points from the lowest on trade buying and covering. Demand failed to broaden materially, however, as the volume of business tapered off on the bulge. and prices eased again later in the morn- ing, when there were rumors of an easing spot basis in some parts of the South. Prices sold back to about the earlier lo with the market showing net declines of 35 to 40 points at mid-day. SEAT BRINGS $90,000. - Membership of San Francisco Ex- change Sold for Record Price. SAN FRANCISCO, October 20 (#). ~—The sale of a seat on the San Fran- cisco Stock and Bond Exchange to Victor T. Maxwell of San Francisco for $90,000 marked a new record today for the value of membership in the financial institution. Recently a seat sold for $80,000. Last year the high mark was $40,000. Other developments in Montgomery street yesterday included an_an- nouncement by the Stock and Bond Exchange of the coming establish- ment of a Curb Exchange which will deal in securities now unlisted on the regular board. This means two curbs for San Francisco. A few weeks ago the San Francisco Stock Exchange, an inde- pendent organization which handles many of the California and Nevada mining stocks. opened the San Fran- cisco Curb Market. o The life expectancy of a child born in England today is 17 years longer than for a child born in 1846. Construction Loans BALTIMORE, October 20 (Special). ~—White potatoes, bushel, 50a1.50; barrel, 1.50a3.50; sweet potatoes, bar- rel, 1.50a2.00; beans, bushel, 1.25a1.50; beets, hundred, 2.00a4.00; Brussels sprouts, quart, 10a20; cabbage, hun- dred, 3.00a5.00; caulifiower, crate, 1.25 al.50; carrots, . hundred, 2.00ad.00; celery, crate, 1,25a2.00; corn, dozem, 15a30;: eggplants, basket, 40a60; kale, bushel, 26a30; lettuce, crate, 3.00a3.25 lima beans, basket, 50a90; onion. hundred _pound: 90a1.65; basket, 25a40; parsnip: 40; spinach, bushel, basket, = 40a1.00; stack, bushel, 30a40. Apples, basket, 25a76; barrel, 2.50 a6.00; cantaloupes, grapes, basket, 15a20; bushel, 2.0022.76; quinces, bushel, 1.25a2.25. Dairy Farm Products. Live poultry—Turkeys, pound, $ba. 40; Spring chickens, 28a30; Leghorns, 26a27; poor and thin, 20: old hens, 20a 20; Leghorns, 16a18; old roosters, 13a 16: ducks, 23a26; small and poor, 17a 18; pigeons, pair, 20a30; guinea fowl, each, 40 Eggs—Receipts, 819 case: and nearby current receipts in fres cases, dozen. 40ad2; strictly fresh, dozen, 44a46. Butter—Good to fancy creamery, pound, 45a49; prints, 49a51; blocks, 43a 50; ladles, 37a38; rolls, 3315a36; store packed, 3314; dairy prints, 33%; proce ess butter, 41a42. Hay and Grain Prices. Wheat—No. 2 red Winter, export, 1.34%; No. 3 red Winter, export, 1.31%; No. 2 red Winter, garlicky, ex~ port, 1.34 No. 3 red Winter, gar- licky, export, 1.317%. Corn—No. 2 yellow, domestic, 1.06; cob corn, old, 5.50 per barrel, nominal. Oats—No. 2 white, new, 58 asked: No. 3 white, new, 57 asked. Old oats selling 2 and 23; bushel over new oats. Rye—Nearby, 95a1.00. Hay—Receipts, none. New hay is arriving in only limited quantity and in somewhat irregular conditton. It is, therefore, not being officlally graded and sells strictly on its merits, within range of 14.00a16.00 a ton, timothy and clover grades. Straw—No. 1 wheat, 10.00211.00 per ton; No. 1 oat, 13.00a14.00. 204 packing REAL ESTATE LOANS 5129 FRED T. NESBIT 1010 Vermont Av Main 9307 dEbl AND nlgul_i:un/ [nvesTment Pankens Wed'\'qnn'i au‘i,u-c ] ‘ashington, D. C. Main 2000 820\ iralile We put no limitation on amounts necessary to finance construction projects large or small. If the project is sound and the loan is well secured, it gwill pay you to make application here. Low Interest Rates and Commission Immediate Answers on All Applications B.F. SAUL CO. Main 2100 925 15th St. N.W. The New York Life Insurance Company Offers to Make First Mortgage Loans - roved Real Estate in the District of Colun.bia Nearby Suburbs in Montgomery County, Md,, for 3, S or 10 yesr terms on your Apartmen! Home RANDALL He. -~ 5%% AGN Office Building Business Property ER & COMPANY Incorporate MORTGAGE LOAN CORRESPONDENT 1321 Connecticut Ave. Telephone Main 9700 National City including Domestic and Foreign Branches Condensed Statement of Condition as of October 10, 1927 ASSETS Banks, Bankers and U. S. Treasurer . of other Banks ds and Certificates . TOTAL . . . LIABILITIES TOTAL Bank of New York $ 8834207700 1,600,000. $75,000,000.00 50, z . _19,167,292.82 32,896,672.98 $102,552,500.00 7,304,000.00 069,818.49 i $255,966,491.44 899,424,670.87 3, 179,148,577.00 $6,000,000.00 00 7,600,000.00 9! 6“,7“'.2 —$297,800.66 Hsiemice 1000,000.00 $144,167,202.82 1 et 190,193,885. 90, 91:.“” 19,000,000.00 16,576,412.28 o7, — C SI&C.M 96 Abeve includes The Natienal City Bank of New York (France) S.'A. native -