Evening Star Newspaper, November 2, 1927, Page 12

FIN STOCKS HAVE RISE INLATE DEALINGS Oils and Tobaccos Bought Heavily in Afternoon Part of Session. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, November 2.—Al- though selling predominated at inter- wvals, the major trend in today’s mar- ket was upward. Business was on a small scale and fluctuations in the standard issues were confined to nar- row limits. Still there was no recur- rence of the liquidation from tired longs and speculative operations for the decline fell off materially. It was more than ever difficult to appraise the market asa whole. While the selling was at its height there were always stocks that showed re- sistance as well as some that initiated Independent advances. One of the strong issues was Southern Railway, up 3 points at 135 and very conspicu- ous. That the demand did not rep- resent general traffic improvement was plain from the action of Seaboard Air Line, which yielded while the stock of the other road operating in the same territory was going up. In some ANCIAL. THE EVENING STAR, WASHINGTON, D. .C. WEDNESDAY, NOVEMBER 2. 1927. NEW YORK STOCK EXCHANGE Recelved by Private Wige Direct to The Star Office. Open. High. Low.Close. AbItIb! Pow (6). 129% 130% 129% 130% Abrahm&Straus 104 104 104 ° 104 Abr&Stras 7%pf 110% 110% 110% 110% Adams Exp (6). 173 173 173 Ahumada Lead. 34 3% 3% 8% Alr Reductn(17) 174% 175% 174% 175% Ajax Rubber.... Th T4 T Th Albany Papr(2). 20% 20% 20% 20% Atbny Pap pf (7) 98% 98% 98% 98% Allled Chem (6) 145 146% 143% 146% Allied Cm pf (7) 122t 1224 122% 122% Al alm (6). 110% 110% 110 110% Amerada (2).... 20% 29% 20% 29% Am Agricul Chm 114 11 Am Agri Chof.. 39% 40 Am Bank N(13). 178 6% Am Bk N pt (3). 57% 604 Am Beet Sug ... 16 16 Am Bosch,..... 23% 28% Am Br Sh (§1.60) 38 58ta 384 Am B Shoepf(7) 123 123 123 Am Brown Bov. 8% 8% 8% 84 Am Brown Bopf 45 45 424 42% AmCan (2)..... 63% 64% 62% 64 Am Car&Fdy (6° 9915 99% 99 99 Am C& F pf (7). 1274 1274 127% 127% AmChicle (3)... 71 71 71 71 Am Drug (80c).. 14% 144 14 14 Am Express (6). 172 1724 171% 171% Am & For Pow.. 2t 24% 24 24% Am&Fo Po pf (7) 102% 104% 103% 103% AmHide & Lea. 11's 11% 11% 114 Am Hide & L pf. 56 56 56 Am Ho P (240). 59% 59% American Ice(2) 274 21 Am Internatl(2) 50 50 6% 6% . 61N 625 624 ) 102% 102% 1024 102 Am Loco pf(7).. 125% 125% 125% 125% Am Machine (2) 160% 161 158 159 AmMa&Fy pf(7) 216 220 213 213 1L 39% 6% 5T 16 22% 38% 123 quarters an $8 dividend was predicted for Southern Railway, which had the largest September net this year in the history of the road, and that although gross revenues had been lower. Marine Pfd. Strong. Another stock, strong at intervals, was Marine preferred, again respond- ing to suggestions that the company would be liquidated. Still another was Radio, which at 79 was at the highest since listing. One or two of the to- bacco stocks, among them General Cigar, were actively bought, and the same was true of the oils, the favorite here including Barnsdall “A” and Standard Oil of California. Against these advances was pro- nounced heaviness in some of the motor shares. Mack Trucks was under pressure again, and made a new low on this reaction. Hudson Motor was in supply at times. General Railway (Signal, in the equipment list, was weak, and Remington Grand dipped to the lowest since trading in that stock was begun. Money renewed at 31 per cent, against the 4 per cent renewal rate ‘Tuesday. Evidently money was not a factor in the proceedings. Profes- sional sentiment was pessimistic, with all the emphasis placed on an unsat- isfactory trade position and none of the credit outlook which was so much stressed when the market was go- ing up. Day’s News Encouraging. As a mater of fact the news of the day was encouraging rather than otherwise. The -mltch"pondon ‘wu: reported operating a per cent of capacity against slightly under 67 per cent last week and 656% per cent two weeks ago. Consuming demand was said to be better, and there was no further weakening in prices. Car loading were up on the week although still below the safe week of a year ago. The important item of grain shipments, however, was up above the same week in 1926. Finally there was a reduction in crude oil output. The confusion of ideas was fllus- trated by the action of the two lead- ers, General Motors and United States Steel. Both were moderately higher in the early trading and both lost most of their gain before the day was balf over. Dividend-paying rails were Just as irregular, Canadian Pacific zoing down while New York Central ‘was going up. Chesapeake & Ohio gaiged ground on a small turnover, but_there was no aggressive demand. Oils and Tobaccos Climb. The market hardened in the after- moon under the influence of continued for the oils and the tobaccos. > oil group was uniformly higher ‘with gains of a point or more in such typical stocks as Marland, Pure Oil, Texas Corporation and 1. No group is in a strong- er technical position than the oils and they showed themselves responsive to the apparent improvement in the in- dustry, The American Tobacco stocks were the leaders in their part of the list with bolt.l’l.g;h; con'ln‘mon and ttl-;owB at record or the present. $50 par shares. Selling around 172, the B stock was up ncurly 8 points on the day, while the common had advanced only a little less at 170. More in- terest was taken in the utilities also, e _cclally Brooklyn Union Gas. Wall Street Briefs PRESSED STEEL CAR.—Frank N. Hoffstot, president of Pressed Steel Car Co., said on his return from Eu- rope today that G. J. Whelan controls a substantial block of Pressed Steel Car securities, but did not control the company. “However, any suggestion from Mr. Whelan regarding the com- pany’s activities will be given due con- sideration by the board,” he added. Mr. Hoffstoo said he knew of no plans at the present time for any change in the company’s financial structure. SEARS ROEBUCK.—October sales of Sears Roebuck & Co. rose to $29,- 301,592 from $26,839,503 in October last year, and for 10 months of 1927 to $228,567,254 from $214,725,261 in the same period of 1926. BHEET STEEL WEAKER.—Prices are weaker in the Chicago sheet steel market. Sales of blue annealed have been made at a dollar a ton under the market. Keen competition was met from the East. Sheet output is lower in the West, the average for the dis- |trict being around 70 per cent of ca- pacity, Pig iron holds at $18.50, Chi- cago. ROSSIA INSURANCE.—Stockhold- ers of Rossia Insurance Co. approved an increase in capital from 64,000 ,shares to 80,000 shares, $25 par, and an issue of 16,000 new shares to stock- holders at $90 a share. The premium lon the shares sold will be applied to ‘surplus, which totaled $2,643,000 on September 1. The shares recently have fluctuated sharply on the stock exchange. FAILURES INCREASE.—Insolven- cies in October were more numerous and liabilities in excess of September, or the_ corresponding month of 1926, R. G. Dun & Co. reporting 1,787 com- mercial failures for October, involv- ing $36,235,872. This contrasts with 1,573 in September for $32,786,125, and 1763 in October last year, owing a total of $33,230,720. Insolvencies in each month this year have been some- vvhat more numerous than last year, with heavier indebtedness. INDUSTRIAL RAYON.—Industrial Payon Corporation has called for redemption the first mortgage bonds and the first and second preferred stock of the Industrial Fibre Co., a subsidiary. Earning power of the «corporation is now at the rate of $2.50 @ share on the common, said Hiram 6 Rivitz, president. Demand for rayon here. and abroad was strong, he said, and the company was sold up for the balance of the year and would open order books the latter part of Deacember for the first quarter of 1928. CHRYSLER MOTOR.—Business of Cirysler Motor Car Co. in the foreign fleld is excellent, representing an in- crease of 84 per cent over 1926, sald ‘Walter P. Chrysler, president, on his return from abroad. Foreign trade mow comprises about 15 per cent of the company’s total business. . Am Metals (3).. 40% 40% 40% 40% Am Piano (3)... 33 33 32 324 AmPianopf (7) 94 944 93% 93% AmPo& Lt (11) 664 674 66% 67 Am Radlator (5) 128 129% i28 129% Am Ry Exp (6). 105 105% 104% 104% Am Republic.... 41l 41k 41% 414 Am SafetyR(13) 56 56 56 56 Am Seating (t4) 401 40t 40% 40% Am Shipbldg (8) 104 101 104 104 Am Ship & Com. 3 3 3 3 Am Smelting (8) 161 162 159% 161% Am Snuff (12).. 136 136 136 136 Am StlFdys (3). 46% 46% 46% 46% Am Sugar (5). 321 321 324 32% Am Tel & Tel (9] 174% 175% 174% 175% Am Tobacco (8). 165% 176 165 175 AmTobaccoB(8) 165% 176 Am Type Fo(8). 125 125 Am Type pf (7). 111% 111% 110% 110% Am W W (m80c) 63 63 62 63 AmWWks pf(6). 100% 100% 100% 100% Am Woolen. 2l% 21% 21% 21% Am Woolen pf. 51% 51% 51 51 Am Writ Pactfs 21% 21% 21% 21% 6 6 6 6 37 37% 37 37% 45% 48 45% 46 Archer-Dan (3). 47% 4T% 4T% 4Tk Arch-Dan pf (7) 111' 111'4 111% 111% Armouroflll(A) 10 10 9% 10 Armouroflil(B) 6 6 5% 6% Armour Il pf(7) 63% 63% 63% 63% Arnold Con&Co.. 34% 35% 34% 35W Art Metl (1%).. 25 26% 25% 25% Asso Dry G (2%) 46% 47% 46% 47 Asso DG 1st (6) 108% 108% 108% 108% AssoDG2d (7). 110 110 110 110 Atchison (110).. 181 183% 181 183% Atchison pf (5. 102% 102% 102% 102% AtCL (18%).. 182% 184% 182% 184 Atl Gulf & WI. 33 33 324 32% At Gulf&W1pf. 32% 32% 31% 31% Atl Refining (4). 114% 118% 114% 117% Austin-Nichols. 5% Sw 5% 5% Autostrap A (3) 43% 44 43% 44 Baldwin L (7).. 256 258 254 254 Bald Loco pf (7) 121% 121% 121% 121% Balto &0 (6)... 116% 117 116% 117 Balto&Ohpf (4) 80 80% 80 80% Bang & Ar (3%). 69 69% 67% 67% Bang & Arpf(7) 110% 110% 110% 110% Barnet Leather. 45 45 44 44 23% 24% 23% 24 89% 89% 894 89 14% 14% 14% 14% 21% 21% 21% 21% 63 53 8 Son o & 0% Beth 8tl pf (7).. 116% 115% 115 115 Bimingdlepf (7) 112 112 112 112 Blumenthaipf.. 83 86 83 86 BonAmiCl A (4) 63% 64% 63% 64% BotanyCMillsA 22 22 22 22 BriggsMfgCo.. 20% 21 20% 20% BritishEmp2d.. 1% 1% 1% 1% Bkin-Edison (8) 178% 177 173% 176% Bklyn-Man (4) 56% 56% 56 56 Bkin-Manpf(6). 80 80 80 80 Bkiyn Un Gas(5) 127 134% 127 183% , | Brown Shoe (2% 45% 45% 43 443 Buft&Susq pt (4) Burns BrosA (8). Burns Bros (B). Bush Term (b8). Bush Ter de (7). Bush Trm pt (7) Butte Cop (50c). Butte&Super (2) Butterick (g2) Byer & Co. » Calif Packg (4). Calif Petm (1).. Callahan Zine... Calumet & Ar (6) Calu & Hecla (2) Can Dry (13%).. Can Pacific (10). Car CI&O sta (5) CaseThreshg(6) Cent Leath., Century Rib M... Cerro dePas (15) Certain-Teed (4) Chandler pf(2%) Chase Nat B(18) Ches & Ohio (10) C & O Corpn (3). Cht & Alton pf. . Chi & East I1] pt Chi Great West.. Chi Gt West pf.. Chi MIl&StLP.. Chi Mi) & StP pf C M&SLP pf cta.. Chi & Nwn (4).0 Chi Rock Is (5).. CRI&PDL (6). CRI&PPL (7). Chi Yellow C(4). Childs (32.40).. Chile Co (2%).. Christl B (1.20). Chrysler Cor (3) Chrysler pfA(8). City Stor A (3%) CCC&SLL pf(5).. Cluett Peab (5). Coca-Cola (5)... Collins & Afk(4) Collins&A pt (7) Col Fuel & Iron.. Col Gas & EI (). 89 Col GEE pt A (6) 107% Col Carbon (4).. 95 Com Cred (1)... 19% Com Cred pf 6% . I‘lfih 163% 51% 51% bl% 51% 101 - 101 101 101 18% 18% 18% 18% 641 64's 64 64k 104 104% 104 104% 116 116 116 116 4 4 4 4 % % Th % 45% 46 45% 46 8lls 82 8l 82 65% 654 65% 104 104 104 264% 267 164% 267 23% 23% 234 234 121 124 12% 12% 29% 60% §9% 60% g 206% 210% 8l 83 10% 10% 2% 72% 12% 2% 15% 28Y% Com Inv (3.60).. Com Solvents(8) Com Powr (2%). Congoleum-Nair Cong Cgrs(14%) Con Cigars (7).. 76% Con Cigars pf (7) 102 Consol Distribut % Consol Gas (5).. 111% ConsolGas pf(5) 99% 53 48 48 165 162% 67% 66% 3 22% 68% 68 6% 6% 102 102 165 22% 684, 6% 102 % % % 113% 111% 113% 9 99% _99% 2 4 7 3w 63% _b2v_ 52% — 663 22% 68 Consol Textile. . Cont Bakg A (4) Cont Baking B.. Cont Bak pf (8). Cont Can (5)...., 74 Cont Insur (8).. 2 Cont Mont (80c, Corn Prod (13).. 58% Corn Prod pf (7) 135 Coty Inc (6).... 10 CrucibleSteel Cuba Cane Sugar Cuba Can ny Cuban Am 8 (1). Cudahy Pkg (4). 19% 53 Curtlss Aero.... Cuyamel Fruit.. Davison Chem. . Deere&Co pt (7) Del & Hud (9).. Del L& W (17), Detroit Ed (8).. Devoe & R(2.40) Diamd Mtch(8). Dodge Bros Cl A Dodge pf (7). Dome Mines ( Dunhill Int (4) Dupont (19%).. Eastman (18) Eaton Axle (2). Eisenlohr & Bro. El AutoLt (16%) Electrio Boat.., AT 50 35% 123 179 131 300% 307 158% 158% 23% 22 23 11% 91 17 1% 16% 17% Open. Elec Power & Lt Elec P&Lt pf (7) Elec Refrigeratn E) Stge Bat (16) Elk Horn pf. £nd Joho (5) Engineers Pub S Engnrs PS pf(7) Equit Bldg (7) ErleRR.. Erfe1stpf...... Erle Stm S (2% ErfeStmS cfs 23 Erie Stm 8 pf(7) Bureka Va ft41 Fair Morse pf(7) Fed Ligt(h1.40). Fed L&T pf (6).. Fed MotT(f80¢c). Fid Phoenix(4). Fifth Ave (64c). First NatS(1%). Fisk Rubber Fisk 1st pf cv(7) Fletschmann (3) Foundatlion (6).. Fox F'{lm A (4). Frank-S pf (7)., Freept-Tex t4% Gabriel Sn (3% ) Gen Am Tnk(4). Gen Asphalit. Gen Bakg pf (8). Gen Cigars (4) Gen Eleo (15). GenElec sp(6ve. Gen G & El1 A(8) Gen Motors. Gen Mot deb i { Gen Outdr Ad(2) Gen Ry Sig (5). Gen Refrac (3). Gillette SaR(15) Gimbel Bros..., Gimbl Br pf (7). Glidden Co..... Gold Dust (3)... Goodrich Ru (4) Goodyear Tire, . Goodyr 1st pf(?) Gothm S H (2%) Gotham new 23 Granby Con Min. Grt North pt (5) Gt Nor pf cfs(5) Grt Nor O (1%). Grt Wes S(2.80) Gt West 8 pf (7) GreenBay&W (5) Green Canan. Guantanamo. Gulf Mo & Nor.. Hanna 1stpf.... 66Y% 4T% 1% 111 90% 3% 56l 82 6% 119 8% 83% % 51 61% 62 HanovrNatB130.1270 1270 12 22 Hrtn B bl0%stk. HavEl Ry pf(6). Helme Geo (4).. 114% Hoe&CoaA.. 29% Houshld P (3%) 64% Houston Oil..... 140 Howe Sound (4). Hud Man (2%).. Hudson Mot (5). Hupp Mot(1.40). 1ilinois Cen (7). Indep Oil (1)... Indian Mot (1%) Indian Mot pf(7) Indian Reflning. Indian Refg ctfs Ingersoll R(14). Inland St (2%).. Inspiration Copr. Intcontl Rub(1). Internat Agri... Int Cement (4).. Int Com Eng (2) 41% Int Harv'(§6)... 207% IntMtch pf(3.20) 833 Int Mer Marine.. 4% Int Mer Mar pt. 38% Int Nickel (2)... Intl Paper (2.40) Int Paper pf (7). Int Ry CA pf(5). Int] Silver. Intl Silver p Int Tel & Tel (6) Jewel Tea pf(7). Jones Bros Tea. Jones & Lau (7). Jordan Motor... Kan City South.. KayserJ (4). Kelly-Spring. ... ly Tire 6% pf elly Tire 8% pt Kennecott C (5). Keystone T & R. Kinney (GR)... Kinney pt (8)... Kraft Ch (11%). Kresge (1.20)... 67T% Kresge SS pf(8). 116% Kress S H (h1).. Lago Ol (75e). . Lambert Co (16) Lee Tire & Rub. LehighVai(3%). Lehn & Fink (3) Lite Sav (1.60).. Lig&MyrsB Lima Loco (4).. Liq Carb (3.60). Loew’s Inc (2).. Long Bell A (4). Loose-W11(1.60) LorillardCo ., Louisiana Oll... LouisGasA(1.76) 21% 5 19% 130 24% 32% 9% 9 85% 897% 5 53% 26% High. 111 9% 3% 56% 37 119 8l 85% % 51 75 116% 30 65 144% 130% 25% 323 98% 145% 115 24% 120% 14 51% 67% 674 117 116% 1. 82% 85% 82 32% 33% 324 8574 90 53 53% 26% Low. 26% 26 26 101 & 51 21% 75 114 291 64 139% 130 24% 32% 97% 144% 115 24% 120% 13% 51% 84 13% i3% 13% 89 36% 36% 36% 21% 21% 21% (£4) 120% 122% 120 53 53 51% 57 57% 57 10% 10% 10% 26 Louis & Nash(7) 147% 147% 147% Ludlum Steel(2) 20% MacAndrws 2.60. 44% Mack Truck (6) 97% Mackay (7).. 114 Macy RH (5)... 203 Mad Sp Gar (1). 24% Magma Cop (3).. Mallison & Co... Mallison pt (7) Manati Sugar. Man El Sup (5).. Man El m g (d5) Man Shirt (2)... Market St prior. Marland Oil..... Mar Rock(13%5). 42 Martin-Pary (2) Mathieson (4)... 1 May Dept S (4) Midland pt (t12) Miller Rub (2)., Min St P & S8M. Mo Kan & Tex. . MoK & T pt (6). 105 Missourl Pacific. 524 Missour! Pac pf. 108 Montana Pow (5) 102% MontgmryW(4). 8% Moon Motor... 4 Mors&Esk(3%). 86 Mother L (50¢).. 1% Motor Met (3.60) 194 Motor Whi (2) 26% Mullins Body 58 Mullins B pf (8) 102% Munsingwr (3).. 46% Murray Corpn... 18% Nash Motor(t5). 83 Nat Acme (sta), 7 Nat Bellas Hess, 37% Nat Biscuit(17). 145% Nat Bisc pf (7).. 140 Nat Cash R (A)3 42% Nat City Bk (20) 702 Natl Dalry (3).. Nat Dept Stores. Nat Distillers Nat Lead (5) 116 20% 44% 99% 114 203 24% 58 102% 46% 18% 83% 7 37% 145% 140 42% 705 116 20% 44 9T% 114 203 24 57 102% 48 18% 83 7 3% 146% 140 60% 62% 60% 21% 214 21% 45% 45% 45~ 116 Nat Lead an('l). 137% 137% 137% Nat Led pf B (6) 111 111 111 Nat Park Bk(24) 593 593 593 Nat Pw&Lt (80¢) 23 Nat Supply (4). 87 23% 87 22% 87 Nat Surety (10). 276% 276 274% Nevada C(1%).. N Y Alr Br (3) N Y Cent (8) 159 NY C&StL (8).. 125 NYC&StL pf(6). 107% Docl 53 NY . NY NH & H: 51 16% 5 NY NH&H pf(7) 111% 1114 111 108 NY & Lack (7) NY Ont& W (1), 35 15% 160 126 108 54 108 35% 15% 40% 40% 40 168% 108 35 NY Steam pf (6) 100% 100% 99% NY Stm pf A (7) 110% 110% 110% Norfolk South Norf & W (8 NorAm b10% North Am ptf (3) 54 NorAm Ed pf(7) 103% North Pae (5)... Nor Pac cfs(5).. Norwalk Tire 011 Well Sup. Oll Well Spf.... 105 Omnibus....... 12% Orpheum Cir (2) 26 54 104 2% 105 12% 26 42% 42% 42'% 183% 183% 182% 58% O8% 574 53% 103% 95% 95% 95 93% 93% 92% 2 324 32 324 2% 105 124 26 6% 70 12’ Close. 26% 6 61% 70 21% % Onen, Otls Elevator (6) 139% 141 Outlet Co (4)... 176 Owens Bot (Ct5) Pacific Gas (2).. Pac Ofl Stubs... Pac Tel & Tel pf Packard (12.90). Paige Motor.... Pan-Am Pet (4). Pan-AmPetB(4) Pan-Am West B. Panhandle...... Parmt-Fam (j8) Park & Tilford. . Pathe Exchange. Pathe Ex A (4).. Patino (a2.10).. Peerless Motor. . Peniek & Ford. . PennDix Cmt(2) Penna RR (3%) Peoples Gas (8). Peoples Gas rts. Peoria & East... Pere Marq pf(5) Pere M prior (5). PhilaCo6 % pf(3) Phila&RCl... Philip Morris. Phillips Pet (. Pierce-Arrow Plerce Arrow Pierce Oil Plerce Pet Pillsbury (1.60). Pitts Coal...... Pitts FtW pf(7). Pitts &W Va(6). Postum (5)..... Pr Stl Car pf (7) Prod & Refiners. Producers&R pf. Prophylac B(t4) Pub Serv NJ (2) Pub SE&G pf(6) Pullmn Corp(4). Punta Aleg Sug.. Pure Oil (12).... Purity BakA(3). PurityBak pf(7) Radlo Corpof A. Radio C pf (3%) RS 1l Cefs (4) Reading (15) Reading 1st ( Reading 2d (2) Real Silk Hos... Reld Ice Crm(3). RefdIceCr pf(7). Rem-Rand $1.60, Rem-Rdist (7).. Rep Ir & Stl (4). Reynolds Spngs. Rey Tobac B (5) Robt Reis & Co.. Rossla Ins (6).. Rossia Ins Co rts Royal Da3.13%. Satety Cable (4) St Jos Lead (13) St L & San F'18). St L Southwest ) Sears-R (n23%).. Seneca Coper.... Shattuck F G (2) Shell Tra (a2.41) Shell Un (1.40)., Shuber The (5).. Simmons (2), Pete, Snider Packg Co. So Por Ric S(£2) South Calif Ed.. South Dairfes A. Sou Dairtes B... South Pac (6)... Southern Ry (1) South Ry pf (5). Spaulding pt (7) Spicer Mfg..... SGE&E (3%). StdG & Epf (4). Std Mill (5).. StdO1ICal(128%). Std OILNJ t1%) Std OIINY(1.60). Std Plate Glass. SterlingPro(17) Stewart-War (6) Strom Car (2)... Studebaker (5).. Submarine Boat. SunOil (11) Superior Oil 3 | Symington Cl A. 51% 674 17 85 54 51% | Youngstn S&T 111 108 35 100 0! Telautogra (60¢) Tenn Copper (1) Texas Corpn (3) Tex Gulf Sul (4) Tex & Pacific.... Tex PC&O(60c), Tex Land Trstn Thatchrp2(3.60) Tidewatr As Oil. TIdWASO1IpL(6) imken (15).... Tobac Prod (7).. ‘Tobac Prod A (7) Transcont Of} ‘Transue & Wil. . Twin City pf (7) Underwood (4).. Underwd pf (7). Union Carb (8).. Unilon Ofl (12%) Union Pac (10). UtdCgrSt(C80c) Uta Cgr St pf(6) United Drug (9) Utd Dyew pt (7) Utd Fruit(15%). USCIP&F (10) (8).. SSmelt (335). U S Steel (7).... U S Steel pf (7). U 8 Tobacco(3) . Unt Pie 1st p£(8) Univ Pipe(t2%). Uni Pipe pf (7).. Utl P&Lt A (e2) Vanadium (t4).. Van Raalte pf... Vick Chem «4).. Victor Tlk Mch. . Victor cv pf (6).. Victor pr pf (7). Va-Car Ch 6% pt Va-Car Ch pf (7) Vivadou (3).... Ward Bak pf (7) Warner Plc A Warner-Quin Warren Bros (4) WarF&Pipe Cor. Web & Hall o W Penn EI pf (7) West P Po (6)... Wi Westhse 1st (4). Weston Electric. White Eagle (2). White Mot (4).. White Rock (2). White Sew Mach White SM pf(4). Wickwire cft.... Willys-Overland Wilson & Co.... WilsonCopf A.. Wilson & Co pf.. Woolworth (5).. Worthn Pump. . Worth Pump (B) Wright Aero (1) Yale&Town(15). Yellow Truck 26% 82% 82% Hourly Sales on N, Y. Market. 1lam.. 38650012m.... 661500 l}l D.. H 833.000 2 p.m... 1,139,700 vi . ars the annunl cath bayments baad on iy latest auarterly or balf searly declaration dends are not inciudey. > O Soecial dl * Unit of tradin: + Partly sxtra. 3 P STOCKS SELL OFF ON EXCHANGE HERE Capital Traction and Ameri- can Security Shares Go Lower. BY EDWARD C. STONE. Some issues sold off a bit on the Washington Stock Exchange today during a session of rather quiet trad- ing. . i‘fl\)it:fl Traction opened at 1.09, dropped to 108% and closed at 108% American Security & Trust Bank stock opened at 454 and closed at 452. Five shares of Second Nationa! changed hands at 265. Columbia_Sand & Gravel preferred sold at 102%, Sanitary Grocery pre- ferred registered at 102% and Wash- ington Gas Light was off a quarter, a 10-share lot moving at 81%. Washington Railway & Electric preferred led in volume of trading, two 100-share lots selling at 100. Bonds were quiet, Capital Traction 5s selling at 10212 and Gas 6s, Series B. at 104%. Harris Elected District Governor. George A. Harris, president of the Potomac Joint Stock Land Bank, has been_elected governor of the second district by the American Association of Joint Stock Land Banks. He will serve with the governors of the 11 other districts. The association com- pletely reorganized its methods dur- ing its convention at the Harrington Hotel, the aim being to have the banks much more closely inspected in the future. W. W. Powell of Washington again was elected secretary and A. W. Hen- drick_of San Francisco was chosen president. Most of the business of the conference was completed late yesterday, when representatives of the bond houses handling land bank se- curities met with the bankers. The bond men were heartily in favor of the move for closer inspection and also favored an advertising campaign to place the condition of the land banks more prominently before the public. Farm Loan Commissioner Eugene Meyer and the other members of the board were present at practically all the sessions at the Harrington. Praises A. B. A. Convention. Harry B. Haynes, president of the Farmers and Mechanics’ National Bank, is enthusiastic over the Ameri- can Bankers' Association convention at Houston. He represented the Dis- trict Bankers' Association on the 2xecutive council, this being his second year on this committee. Mr. Haynes also presided at an important meet- ing of the law and legislation com- mittee. The Jocal bankers will not soon for- get the heat in Houston “It was the hottest convention I ever attended,” Mr. Haynes said today. “Every dele- gate was simply wringing wet all the time. It was hotter in Texas than at the St. Louis convention several years ago, which is still recalled by many Washington financial experts. According to Mr. Haynes, Ezra Gould, president of the Washington Mechanics’ Savings Bank, was promi- nently in the limelight at Houston on account of views accredited to him on the national political situation. New York Financiers in City. Arthur Foraker, Washington man- l Elected Governor I GEORGE A. HARRIS, President of the Patumac Joint Stock Land Bank, who has been named by the American Association of Joint Stock Land Banks as supervisor for this district. The board consists of 12 members, WHEAT GOES LOWER ON FOREIGN REPORTS Cheaper Offerings to Europe by Canada and Argentina Send Prices Down. By the Associated Press. - CHICAGO, November 2.—Influenced by Treports of cheaper and freer offer- ings to Europe by Canada and Argen- tina, wheat prices averaged lower to- day in the early dealings. Definite word was at hand that no damage had been done by frost in Argentina. Starting 3§ to 1 down, wheat rallied a little and then sagged lower than before. Corn, oats and provisions de- veloped firmness, corn opening at a shade off to 3 up and later scoring some advance all around. Rather persistent selling of wheat future deliveries here by the North- west today drew attention to the fact that receipts both sides of the Cana- dian boundary, although displaying some let-up as compared with a week back, are still mucn in excess of ar- rivals a year ago. Winnipeg today had 2,579 cars against 2,778 last week and 1,920 at this time last year. Meanwhile, with increased pressure noted both from Cunada and Argen- tina, export business overnight in wheat from North America appeared to be at a halt. Upturns at times in the corn mar- ket today were largely associated with talk current that all bearish factors in the corn situation had been discounted. On the other hand, it was pointed out that prices at present are about 11 cents higher than a year ago, and that npractically all corn is now beyond danger from frost. ager of the brokerage house of East- | man, Dillon & Co., is today entertain- | Dece: ing James P. Magill, partner In the firm, who is director of the investment branch of the business, and Herbert B. M Smithers, who is at the head of the o firm’s stock business. Both New York- ers have several friends among the bankers in the local financial district. Rediscount Rate Lowered. “The Federal Intermediate Credit Bank of Baltimore has announced a reduction in its rediscount rate to 4% per cent. The rate applies to agri- cultural paper with maturities of six to nine months, and live stock paper with maturities from six months to one year. This reduction is of particular inter- est to bankers in the District of Cq lumbia, Virginia, West Virginia, Penn- sylvania, Maryland and Delaware, to whom the facilities of the Baltimore bank are available, and through whom its facilities are extended to the in- dividual farmers. The rate on direct loans to co-operative marketing asso- ciations is also 414 per cent: North American’s New Records. The balance available for common stock of the North American Co. for the year ended September 30, rose to $16,405,742, equal to $3.72 a share. from $14,204,682 the year before, or $3.56 a share. New high records were made for gross earnings, which reached $121,- 815,469, a gain of®$8,127,596, and for total net income, $58,094,090, an in- crease of 8.02 per cent. Appropriations for depreciaion re- serves were $12,479,169, equivalent to 10.24 per cent of gross earnings, an increase of 7.99 per cent over the pre- ceding 12 months. The amount car- ried to surplus, after all charges, re- serves and preferred and common dividends, was $12,170,324, compared with $10,368,196 for the 1926 period. George L. Starkey, pregident of the National Bank of Washington, has returned from a two-week motor trip to Buffalo, Niagara Falls, Canada, Erie, Pa., and other places in that section, o HONORS AWARDED IN SCIENCE WORK Three Men Distinguished in Re- search Each Receive John Scott Medal and $1,000. By the Assoclated Press. PHILADELPHIA, November 2.— Three savants who have distinguished themselves in the fleld of scientific re- search last night received the John Scott medal awards at a special meet- ing of the Academy of Natural Science. The awards, each carrying an honor- arium of $1,000, were eonferred upon Dr. Afranio Do Amaral, director of the Antivenin Institute of America and the State Serum Institute in Butan- tan, Brazil; Dr. Alfred Fabian Hes: clinical professor of children's _di: eases, Columbia University, New York, and Dr. Peyton Rous, patholo- gist in the Rockefeller Institute for Medical Research. Dr. Do Amaral was selected for the honor because of his preparation of antivenins, protective against snake bites, his first work having been done at the widely known snake farm at Butantan, Brazil. Dr. Hess received the award for his method of producing a vitamin fac. tor in food by ultra-violet rays. Dr. Rous received the award for his filtration technique separating from tumor cells of fowls a substance pro- ducing the disease. The work was de- scribed briefly by Dr. Philip D. Mec- Master, his colleague. : Senor S. Gurgel Do Amaral, Brazil- ian Ambassador to the United States, a distant cousin of Dr. Do Amaral, was a speaker. His andicap. - | From Answers. London. I . @ Plus 1,50 us $1°a share In apecin) in_stock. 1§ Plus poc, K Bavable 1/40°6T S atire' Suarterly W RATY aioKk b PIne"SD e pocdering S1ocK: PR ore Tt O comeonafocucrted stock! O'Cassidy (to foreman)—I'm tired of carryin’ the hod, I want to push a bar- rer, like Flynn does. . Foreman—You push a barrer? Phwat the dickens d'you know about machinery? BONDS'ARE RETIRED. OTTAWA, Ontario, November 2 (8). —Retirement from revenue of $29,000,- 000 of Canadian 5% per cent Victory renewal loan obligations is announced by J. A. Robb, minister of finance. Maturities on November 15 of $8,000,- 000 of treasury notes will probably also be redeemed from revenue, the finance minister intimated. POTATO MARKET STEADY. CHICAGO, November 2 (#).—Pota- toes—Receipts, 113 cars; on track, 475; total United States shipments, 757 cars; demand and trading slow, mar- ket steady; Wisconsin sacked round Whites 1.45a1.65; Minnesota, North Dakota sacked Red River Ohios, 1.30 a 1.45; sacked round whites, 1.30a1.45; Idaho sacked russets, Burbanks, 1.50 al.75; sacked rurals, 1.40a1.60. LUDLUM STEEL PROFIT. NEW YORK, November 2 (#).— Ludlum Steel reports net profit of $66,255 for the third quarter, against $62,928 in the third quarter last year. Net profit for nine months of 1927 was $200,678, against $242,748 a year ago. o SOUTHERN PIPE LINE. NEW YORK, November 2 (#).— Southern Pipe Line Co., Oil City, Pa. declared a dividend of $2 a share, payable December 1 to stock of rec- ord November 15. The previous pay- ment was in March, 1926. The com- pany was controlled by Standard Oil Co. of New Jersey until the dissolu- tion ordered by the United States Supreme Court in May, 191 Mortgage Money VWithout Delay FINANCIAL. COTTON ADVANCES INTODAY'STRADING Buying Inspired by Steady Cables and the Weather News. ‘ By the Associated Press. NEW YORK, November 2.—The cotton market opened firm today at an advance of 15 to 21 points on a con- tinuation of yesterday's late buying and fresh buying for local or commis- sion house account. This was inspired by relatively steady Liverpool cables, talk of frosts in the Southwest and a bullish interpretation of the weekly report of the Weather Bureau. on the ground that it indicated a large pro- portion of the crop had been picked. December sold up to 20.62 and May to 21.00 in early trading. or 27 to 30 points net higher. The market was within 5 or 6 points of the best at the end of the first hour. Private cables attributed the steadi- ness in Liverpool to continental and Bombay buying, with covering on fear of frost in the South. Business was fairly active at the start, but the market became com- paratively quiet iatcr and prices eased off under realizing by recen: buyers, which appeared to be com- bined with some Southern selling. December reacted to 20.47 and March to 20.69, but the market was a point or two up from these figures at mid- day, with active months showing net advances of about 12 to 14 points, U. S. MONEY ABROAD IN LARGE VOLUME American Financiers Seeking For- eign Investments on Scale Never Before Surpassed, Is Report. American money is flowing into for- eign investments at a rate never be- fore surpassed. The Commerce Department today announced that October foreign loans amounted to $265,000,000, a new rec- ord for any peacetime month, while for the 10 months of 1927, including October, the total of foreign securities publicly sold in the United States is $1,318 700,000, which _fotal sur- passes the total of $1,318,554,000 set up for the entire year 1926. Exceptionally large lendings to Germany accounted for the monthly increase during October. The Free State of Prussia took $30,000,000 in one loan, while American participa- tion in Polish and Brazillan financ- ing accounted for additional large amounts. Among the more important German loans made by Americans were $50,- 000,000 to the German Central Bank ot Agricullure and $20,000,000 to the Commerv und Privat, the Bank of Germany. So far during 1927 Euro- pean ‘borrowers have qbtained $508,- 000,000 from the United States. BETHLEHEM GETS ORDER. NEW YORK, November 2 (#).+- The Boston & Maine Railroad recently ordered 18,000 tons of steel rails from Bethlehem Steel Corporation. Last year the road filled its rail require- ments in Germany. RUBBER LOWER. -~ NEW YORK. November 2 (Special). —Crude rubber, smoked ribbed sheets, declined an eighth of a cent at today’s noon quotation of 35l%. This com- pares with 33% a month ago and 41 a year ago. More than 800,000 white women are living in South Africa. @ For reinvestment of Liberty Bond Funds —ask us about First Trusts — on critically appraised residential properties in the best sections of Washington. " Protected and prof- itable investment. 1415 K Street Main 4752 To come to us—when refinancing present mort-, gages or for construction loans—is to take a direct route to financing help. Low Interest Rates _and Commission Immediate Answers on Applications B. F. SAUL CO. Main 2100 The New York Life 925 15th St. N.W. Insurance Company Offers to Make First Mortgage Loans On Improved Real Estate in the District ot Colun.bis aod Nearby Suburbs in Montgomery County, Md, for 3, 5 or 10 year terms on your Apartment Home Office Building 519 == Apply RANDALL H.- AGN] Incorpora ER & C;OHPAN\' MORTGAGE LOAN CORRESPONDENT 1321 Connecticut Ave. Telephone Main 9700 Mortgage Money-Loaned at Low Interest Rates Economie Conditiens Tyler & Rutherford ondent Mutusi Vit tns. Lo " 1520 K Street Fund of $100,000 to purchase desirable Second Trust Notes at very reasonable rates Prompt Answers J. DALLAS GRADY M. 6181 904 14th N.W. Cromut Action First Mortgage Loans Lowes: Ratees of ‘Main <75 ‘nterest and Commission Thomas J. Fisher & Company, Ine. Hudson Brakes, $9 Essex Brakes, $7.50 Foot Brakes Relined Complete Guaranteed One Year Auto Brake Service and Ford Band Co. 425 K St. Fr. 8208 Brakes for all cars at Great Savings WE PAY MORE INTEREST ON SAVINGS ACCOUNTS Than Any Other National Bank in Washington Interest on DAILY Balances Come in and let us explain Commercial Nat'l Bank 14th and G Streets Resources, $17,000,000 . GOLDEN DONALDSON. PRESIDENT 'NOTICE LIFE INSURANCE BROKERS AND SALESMEN Our Preferred Whole Life Policy just out. Net cost end of first year, age 35, for $5,000, is $97.55. Sold only to Super- standard or Preferred Risks. A Whole Life Policy with values at end of second year, not Term. Modi- Half-rate’ Life Insurance. Brokerage business accepted. H.R.BRYARLY & BRO., Managers Home Life Insurance Company of New York 1001 15th St. N.W. (Rust Buildiag). Phone Main 539! 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