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o 'FIN ANCIADS THE EVENING STAR, WASHINGTON, D. €, THURSDAY, DECEMBER 22, 1927. ALIANBOND L] | (= o= BONDS s e Raceived by Private Wire Direct to The Star ~LEADERS IN TRADE ; Move to Stabilize Lira Back ~of Demand—Convertible Industrials Steady. BY CHARLES F. SPEARE. Special Dispatch to The Star, NEW YORK, December 22.—The ex- Pansion in bond trading in the early part of today's session was due to the Vigorous demand for Italian issues Erowing out of the sudden determina- tion of Italy to stabilize her currency. The market had evidently had an inkling of this as Italian bonds have n active and strong for several . The actual announcement, however, caused heavy buying of them, in which the government 7s rose over a point to a small fraction under par. At the same time City of Rome 638 and Milan 6%s gained 1 to 1% points. The Italian public utility and automobile company bonds were like- Wwise bld up for gains of from % to a point. After an hour or so of intense trading in this group they reacted a little on profit-taking. Further Italian Loans. It is quite probable that the sta- bilization of the lira will be followed by turther Italian loans about which there have been rumors for some time. The borrowers will be a the important Italian utilities and possibly mortg Other continental bonds wer: banks. taken in - French internal loans, which would be benefited by action in France similar to that taken by Italy. Industrial convertible bonds were steady after a lower opening. The Volume of trading in them, however, has decreased sharply since the first of the week. Speculative Rails Irregular. Speculative rails were irregular, Eries, New Havens and Seaboards along with Florida East Coast 5s show- ing a good tone with heaviness in Den- ‘ver 5s, Western Maryland 4s and Chi- cago Great Western 4s. The New Haven new 4%s, offered today on a § per cent basis, will effect changes in UNITED STATES. (Sales_are 'n $1 600 ) Sales. High. Low. 458 102 10123 103 11 2 115 22 FOREIGN. Sales. High, 11522 Low. Close. 91k 9l .99t 994 9% 994 100 100% 99% 100 984 V8% 97l 9TH 103% 104 Argentine Argentine Argentine Argentine Argentine 6s B. Australia 63 1955 Australia 6s 1957 Canada 68 1931. Canada 6%s 1929, Canada 6s 1953, Chile 78 1943,..... Chile 8s 1941, Con Pow Japan 7s Copenhagen 6s ot. Czecho 7%s rets. .. Czecho 88 62...... Danish Munio 8s B Denmark 6. ...... DE15%s Mch 63 DE15%s Nov 63.. et anEmmrnnoaSa . Finland s f 63 45. Italy Pub 7s, Japanese 4. Japanese 6348 Lyon §s. . o T Mexico 45 04 asntd. 2 the financial structure of this company | N that are highly important to the jun- for securities. The operation, together Wwith those that have preceded it in the last two years, are extremely creditable to the management and its financial advisers. United States Government bonds were irregular. The first Liberty 3%s showed a slight loss, while the long- term treasuries were higher. Washington S;ook Exchange i SALES. n G “A"—$100 at 108, ™ fi':Mc %3 pld—10"at 107%, ashinkt Light—10 at 84%. 10 at A e Ja T wa g:m"#u fi:nn & l-nm'@f{“—s at 150. 84 pe—325 at 104%. t. pid.- . wvest. DId—32 at 5%. | Peoples Drug Stores ptd.—3 at 122, wasbioton ATTER CALL. kton Gas 5s—$500 at 105 Washingto 282 it 3 "fim"u. as %Lu‘ 0 ““I%:glb“ 0/ a v, Dfd.—120 at 53, ersent inotype—6 at 104% . 99 107% 105% Money—Call loans. 5 and 6 per cent. otice—This exeh: il - This exchange will be closed Sat- | 7 Bid and Asked Prices. . 3 Utd Kingm 6%837. 30 Ui 3s. ruguay 8s. o 17 109% Yokohama 6swi.. 10 94% MISCELLANEOUS. Am AgriChem 7%+ 12 104% 104% 101% 101% 99% 99% 3 106% 105% 6 . 105% 105% T & T deb 6%s. 109% 109 Am Water Wks 6s. 101 100% Am Writing Pap s 92% 9% Anaconda 1st + 26 105% 1054 Anaconda cv db 7s. 82 114% 113% Andes Cop 7s rcts. 130 125% 1244 4 Sales. High. Low. Close. B&O1Isthsct.... 14 109% 109% b2 1% Buff R & Pitt 4% Can Nat 4148 80 Can Nat 438 67 Can Nor 43%s 1935. Canad North 6%4s.. Car Clinch&O 6s 53 Central Pacific ¢s. Cent Pac 18t 55 90. Chesa Corp 6s wi. CM&StP deb 4s cfs CM&SPev4 % si2cfe CM&StPeniélys CM&StPrfays. CM&SPrf4%scf. CM&StPovhs.. C M&St Pev §scfs CM&StPés..... Chl & NW gn 3%s. Chi & NW gen 4s.. Chi & NW ref 5: Chit Rys bs. ChiRI&Prfds.. CRIPac4%swl. ChiTH&SE S Chi'T H Inc 6s 60. . Chi Union Sta 63 44 Chi & W Ind on ¢s. C&WIRkn62,,. Cuba Nor 5% sc Del & Hud 5%s. Del & Hud 7s 30. Den & Rio G cn 4s. Den&RioG 4%s 36. D Rio G West ErfeconvésA. Erie conv 4s B. Erie cvt 58 67 wi, FlaBC6s74. Grand Trunk Gt Nor 4%s 76 Great North 614 Gr Nor gen 7s. Hud & Man af §s. 111 Cent ref 4s. 111 Cent 48 53. 11 Cent 4% s 111 Cent Chi 43 Int Rapld Tran 6s. Int Rap Tr §s stpd. Int Rap Tran 1 Int Rap Tran 7s. Int & G Nor 1st 6s. Int & G Nor ad 6 1 Int RysCAGs T Int Rep C Am Int Ry C A 6%s ret Iowa Cent 1st Kansas City 8 Kansas City 8 6s, Kan City Term 4s. Lake Shore 4s 28, Lake Shore 4s 3. Lehigh Valen 4 LehighVal con 4 L&N4%s x:ol K | quoted at 25 cents, the filet of had- BUYERS.DELAYING TURKEY PURCHASES Consumers Believed Waiting for Break—Sea Food Trade Also Dull. Continued inactivity in the Christ- mas turkey market this morning showed very clearly that buyers are holding off, but for what reason deal- ers admitted they were unable to ex- plain, It is generally believed that a break will come before the close of the| week's market. Reports from Balti- more and Philadelphia give a wide range in prices of turkeys, some high- er and some lower than prices quoted here. Additional supplies of turkeys from Texas were received yesterday, and it is thought turkeys from nearby Maryland and Virginia will begin ar- riving in large quantities late today and tomorrow. Due to the unsettled condition of the market, it was stated this morn- ing, dealers experienced difficulty in quoting prices. and prices quoted, they stated, were slightly lower than job- bing prices. Prices Are Lower. Prices quoted this morning were slightly lower than yesterday’s prices. Live turkeys were quoted at 38 and 40 cents, the dressed stock at 43 and 45 _cents. Business at Municlpal Fish Market, usually brisk Thursday mornings for the Friday retail trade, was reported this morning as being as slow as the turkey trade. Dealers in marine products reported a scarcity of fresh-caught fish and ample supplies of frozen stock. Oys- ters continue plentiful and in splendid condition, but dealers, realizing tur- key is the principal foodstuff in de- mand at this season, readily say they do not expect heavy sales. Dealers had fresh-caught Spanish mackereland speckled trout from North Carolina waters at 25 cents a pound, croakers from the same waters selling at 15. They also had supplies of fresh-caught white and yellow perch from the lower Potomac at 15 cents a pound, a few catfish from the same waters selling at 10 cents. Frozen halibut, salmon, Boston mackerel and filet of haddock were dock being particularly scarce. Select oysters were quoted at $2.50 a gallon, standards at $2.25 and shell stock at $3.50 a bushel. Wholesale Prices Today. Meats, fresh killed—Beef, 20a25; veal, 24a26; lambs. 26a27; fresh ham: 18a19; loins, 21a22; fresh shoulders, 16al7; smoked hams, 20a22; smoked shoulders, 14a16; strip bacon, 22a2: lard, 13a13%; calves, allve, 14alf; lambs, alive, 13. Butter—One-pound prints, 54a55; tub, 53; store packed, 31. Eggs—Fresh selected, 44ad5; hen. nery, 48; current receipts, 42. Poultry, alive — Turkeys, 38a40; fowls, small and medium, 20a21; large, 22a28; Spring chickens, 24a25; roost- ers, 15; ducks, 18a20: keats, younsg, 70a75; old, 35. Dressed—Turkeys, 43a 45; Spring chickens, 27a28; roosters, 18; capons, fancy, heavy, 45a48; small, 38a40: ducks, 25a30; keats, 80a90. Fruit and Vegetable Review. Today’s market report on fruits and vegetables compiled by the Market Newa Service Bureau of Agricultural Economics says: Apples—Supplies moderate; demand moderate, market steady; barrels, Vir- ginia, U. 8. No. 1, Staymans, 2% inches up, 8.00a8.50; U. S. No, 2, Stay- mans, 2% inches, 7.00a7.50; Pennsyl- 8. No, 1, Yorks, 2% inches 6. Boxes—Washington, medium to large sizes, extra fancy Deliclous, 5.0024.25; Spitzenbergers, best, 3.75; ripes, 2.75a3.25; Staymans, 3.00a3.25. Virginia, U. 8. No. 1, Jonathans, 2% inches up, 1.85; Staymans, 23 inches up, 2% inches up, 2.50a2.75; Yorks, 2% inches up, 2.25; Pennsylvania, U. g‘o‘)’{o. 2, Romes, 2% inches up, mostly PER SHARE ANALYSIS, What Is Back of Kach Share. Per share: Total gross assets .. it fi b Deductions: Preferred stock Unpaid current bi Deferred liabili Net assets for common ‘en-year average earnings basis pres- et stock ... Dividends pald continuou 1919, then suspended til] 19! At 127, stock yields 3.1%. (Consult_your banker or broker for fur- ther information as to value tack of this stock. Scrapbook this for future reference. —_— AMOS L. BEATY RESIGNS AS TEXAS CORP. CHAIRMAN NEW YORK, December 22. (@).— Amos L. Beaty, chairman of the board of the Texas Corporation, one of the largest so-called independent ofl com- panies in the country, today an- nounced his resignation as chairman and a sa member of the board of di- rectors. Mr. Beaty had held the post of chair- man for two vears and prior to that had been president of the corporation. Mr. Beaty declined to make any statement regarding the reasons for his resignation. his secretary stating that he considered it “In bad taste™ to make any announcement at this time. No annoucemet was made as to his successor. —— — Ohio Wesleyan coeds will not be per- mitted to smoke this year. The boys must leave autos at home. BIG TRUCK SALES 0 FARMERS SEEN New Grain Harvesting Meth- ods Demand Their Use. Workers Moved. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, December 22.—Truck manufacturers throughout the coun- try anticlpate an increase in sales from the agricultural districts as a result of the improvement in harvest- ing methods which began to be put into effect in the Fall of 1927. The trucks form a necessary part of a new development in grain moving which was first introduced to the farming sections this year. For years it has been the custom for harvest hands to start the harvest season in the South and Southwest and gradually work North as the reap- ing and threshing season traveled in that direction. These thousands of workers either beat their way on the rallroads or obtained special rates from the carriers in moving from point to point. At times, this method of transportation, coupled with exi- gencies of weather, left certain sec- tions without adequate labor and cost millions of dollars to the farmers in- volved. This year the harvest hands moved North like an army of locusts, cutting down the grain like those insects, but not destroying it, and the method of transportation was the motor truck. Hauling to Elevators. The operators of these trucks in the past year contracted with the farmers for the hauling of grain from the com- bined harvesters-threshers to the ele- vators. Threshing has been so speed- ed up by the “combines™ that the old grain tanks could not move the har- vest from the threshing machine in the field to the country grain elevators, and the farmers themselves did not own sufficlent trucks of large capacity to do this hauling. A fleld man, representing one of the larger grain companies of the FINANCIAT. % 15 northwest, estimated today that in South Dakota one-third of the cash grain hauled to the market during the threshing season was conveyed in these itinerant trucks. Workers handling the .rucks are able to carry with them a considerable number of harvest hands, who are mobilized at the point of greatest demand. ‘The motorized crews of farm labor- ers moxed with the grain harvesting from June to October and from Texas to the Canadian border. They found that their pay has gained rather than lost as a result of the new arrange- ment. The harvest workers, in com- parison to the regular farm hand, is highly paid considering that room and board are usually included with the daily wage. The truck reduces his transportation cost and provides a place in which some of the hands can sleep. Help Farmers’ Wives. By the use of these trucks and other automobiles available, the farmers’ wives have been relieved of a great part of the strain which used to fall on.their shoulders in providing food for the harvesting crews. Now these trucks transport the harvest workers to restaurants in nearby villages. As a result of the transportation of grain hy motorized equipment, the grain movement for September and October set new high records, as shown by receipts at the terminal markets at Duluth and Minneapolis. By the end of October the rush of the grain movement was over. The rail- roads were able to handle from 45 to 88 per cent more grain for- the 14 weeks of big grain movement than was handled in 1926, without em- bargoes, tie-ups or delays. The Northern Pacific movement of grain increased by 88 per cent for the 14 active grain moving weeks, com- pared with the corresponding period of 1926. The road handled 36,147 cars this year as against 19,221 cars a year ago. Great Northern increased its han- dling of grain 33 per cent, while the Chicago & Northwestern gained 46 per cent, and the Chicago, Milwaukee & St. Paul gained 45 per cent. POTATO SALES LIGHT. CHICAGO, December 22 (#) (United States Department of Agriculture).— Potatoes—Receipts, 41 cars; on track, 184; total U. S. shipments, 379; de- mand and movement slow, market dull; very few sales reported; Wiscon- sin sacked round whites, 1.50a1.65; Ida- ho sacked rugle!.!, 1.50a1.65; partly 1 0. e ———— - S S e CANADA PULP AND PAPER EXPORTS SHOW GAIN MONTREAL, Quebec, December 22 (#).—Canadian pulp and paper exports in November totaled $16,501,663, an increase of about $1,000,000 over the same month last year. A substantial increase in news print exports was a factor in the total increase. News print exports were valued at $11,771,491, as against $10,118,672 in November, 1926. As in the past, most of the exports were destined for the United States, which absorbed $14, 371,632 of the total. - HUNGARY BANK DIVIDEND. BUDAPEST, Hungary, December 22 (#).—The Hungarian National Bank today declared an 11 per cent dividend. Money to Loan deed of trust on real estate ission, L. & Trust & F N.W. Secured by first Prevailing interest and_comm Jleph 1 Weller §:9 Wash. 1st Trust Loans Any Amount D. C. and Montgomery County Large Construction Projects FRED T. NESBIT 1010 Vermont Ave. M. 9392 First Deed of Trust Notes for Sale Secured by Improved Real Estate in the District of Columbia Principal and Interest GUARANTEED REAL ESTATE MORTGAGE & GUARANTY CORPORATION Main 1403 26 Jackson Place Resources Over $4,000,000 L. E. Breuninger, President The New York, New Haven and Hartford Railroad Company FORTY-YEAR FIRST AND REFUNDING MORTGAGE 4Y%% GOLD BONDS SERIES OF. 1927 Dated December 1, 1927 To be is: 3 wader the First and Refunding Morigage dated December 9, 1920, as amended by & Not redeemable pric notice, as f at 105% and and accrued interest; Interest payable June 1 and Dece mber 1 in New York City or Boston. Supplement to be executed under date of December 1, 1927, Bankers Trust Company, New York, Trustee. to December 1, 1937. Redeemable in whole or in part, at the Company’s option, upon 60 Due December 1, 1967 days’ On any interest-payment date on or after December 1, 1937, and prior to December 1, 1952 accrued interest; on or after December 1, 1952, and prior to December 1, 1962, at 102%% on or after Decem ber 1, 1962, at 100% and accrued interest. Coupon bonds in_denomination of $1,000, registerable as to principal. Registered bonds in demominations of $1,000, $5,000, and authorized multiples of $5,000. Coupon and registered bonds and the several denominations of registered bonds snterchangeable. Issue and sale subject to authorization of the Interstate Commerce Commission. Edward J. Pearson, Esq., President of The New Y ork, New Haven and Hartford Railroad Company, has summarized as follows his letter to us describing this issue: HAVEN The New York, New Haven and Hartford Railroad Company owns 1,347 miles of railroad with Cabbage — Supplies moderate; de- mand light, market steady; South Carolina, few sales, barrels, crates, pointed type, 2.00a2.25; 115-bushel hampers, flat type, 1.00; Florida, 1%- bushel hampers, pointed type, fair quality and condition, 1.00a1.26; Vir- ginia, Norfolk section, barrels, Savoy type, 1.50a2.00. Celery—Supplies moderate; demand moderate, market steady; New York, 2-3 crat .00a2.25, mostly low as 1. California, craf best, mostly, 5.00, ordinary quality and con- dition low as 4.00. Lettuce—Supplies moderate; demand moderate, market steady; California crates, Iceberg type, 4-5 dozen, 3.00a 3.50; Arizona, crates Iceberg type, 4-6 dozen, 8.50a4.00; Florida, 2-dozen crates big Boston type, 2.50a2.75; 1%-bushel hampers big Boston type, wide range prices, 1.50a2.50. Onions—Supplies moderate; demand moderate, market firm; Michigan, 100- pound sacks, Yellows, U. S. No. 1, medium to large size, 2.00a2.25. Potato Market Steady. Potatoes—Supplies moderate; de- mand moderate, market steady; New York, 150-pound sacks, round whites, U. 8. No. 1, 3.15a8.25; Michigan, 150- und sacks Russet Rurals U. 8. No. 1, 3.25a3.35, mostly 3.25. Spinach—Supplies moderate; 135359175 mand moderate, market st 139 579651 ginia, Norfolk section, bushel baskets, 1 g 0:79‘ 43, Savoy type, 1.40a1.50. 1927¢ 140,000,000 Tomutoe:—suwlieu“ ngtl;t; den::nd moderate, market slightly weaker; With November and December figures estimated. unknown origin threes, ripes, wrapped, N inntimg v am won-operating income ‘Gnd Irom fzed ch - iti i fancy count, 2.75a3.25, mostly around osnt of lemoad roads, G rges contra items of income on securities owned also included in gmpuh‘u which, beginning with 1926, have been charged di- ‘ommerce Commission. 4 4 Exzoluding payments under tees om_separatel, 3007 cholos count, ARERELY; DewAN mm"::’?‘m’-‘l' and "Lose’ Account “under direction of the Intersiate M' a high ratio of second, third and other trackage to line mileage, and operates a total of 2,175 miles of line. The Company owns over 90% of the preferred stock and all the common stock of the Boston Railroad Holding Company, which owns $1,069,400 of the preferred stocks and $21,918900 of the $39,505,100 common stock of the Boston & Maine Railroad. mfl'fl The proceeds of this issue will be applied to retirement of $20,893300 of 6% Collateral Notes held by the United States Government, $3,415200 of 6% and 7% Equipment Trust Notes, and to the reimbursement of the Company’s treasury for indebtedness heretofore retired. The issue and sale of these Bonds, together with the previous sale of $49,036,700 of 7% Preferred Stock, com- pletes the Company’s program ‘for refunding $70,030,000 of short-term indebtedness to the United States Government, Upon completion of the present financing, the funded debt outstanding in the hands of the public, including Equipment Trust and Collateral Notes, will have been reduced from $318,812,000 as of December 31, 1926, to $281,884,700, so that the ratio of funded debt to total capital liabilities will have been reduced from 669% to 57.7%. Upon completion of suck financing, there will be outstanding $181,600,550 debt secured by the First and Refunding Mortgage, consisting of these $31,000,000 Series of 1927 Bonds, $§110,030,450, of pre-existing sbl(nku, and $40,520,100 of obligations secured by pledge of $48,548,000 First and Refunding Mortgage 102% 102% 100% 100% 106% 106% 110% 110% 101% 101% 102% 102% 101% 101% 104% 104% 105% 105% 241% 241% 105 105 96 95% 82% 81% 108% 106% 93% 92% 96% 96% 108% 108% 89% 89 94% 94% 102% 102% 97% 9Tk 100% 100% 102% 102% 105% 105% 101 101 105% 105 101% 101% 104% 104 96% 96 106 106 104% 104% 109 109 102 102 101% 101% 105% 105% 104% 104% 122% 122% 101% 101% 104% 104% 87% 874 107 107 105 104% 116% 116% 9T% 9T% 102 101% 108% 108% 1 11 101% 101% 102% 102% 102% 102% 105% 105% 103 103 106% 106% 108 102% 103% 103% 104 104 101% 100% 104 103% 104% 104% 107% 107 106% 105% 105% 105 97 97 97% 9% B zz7222222 99 5 Swens z " Bush T Bldg Chile Copper b Con Coal Md 1st bs. ConGasN Y 5%s.. 222222222 Mg gzzgfiza e & 528w e e PenSuidn®d~ The Company’s outstanding capital stock has an aggregate indicated market value, based on curremt quota- tions, of approximately $150,000,000. EARNINGS Combined _earnings of The New York, New Haven and Hartford Railrond Company, the Cen- tral New Engbuui Railway Company and the H arlem River and Port Chester Railroad Com- pany (which latter two companies have been merged with the New Haven Company effective January 1, 1927) during the five years ending with 1927 have been as follows: " Gross Operating Revenues $141,928,813 Northern Pac 58 D. Northern Pacr§ 68 Ore Short L rfs 4s. Ore Short L ¢n 5i 106% 101 105% 101% 104% 26 106 104% 109 102 101% 105% 104% 1224 101% Int Mer Marine 6s.. Int Paper 6s 47. » oo Rare el R85 Years Ended fhaps i Dec. 31 62. Kelly-Spr! Lackawa S 58 50 Lacl G ref 34. Laclede G 5%s Liggett & Mye Liggett & Myers T8 Midvale Steel Applicable to Fized Charges* $17,802,498 24,075,068 27,546,713 27,869,924 28,694,000 Total Fized Charges* $19,775,941% 19.511,079% 19,235,099% 19,017,849 18,420,000 Net Income $1973,443 (Def.) 4,563,989 8311614 8,852,075 10,274,000 PCC&StL6sA.. PCC&StL 68 B 75.. Port RL P6s4T7... Port RL&P 7%s 46 lug boxes, ripes and turning, wrap- ped, 3.50a4.00. String beans—Supplies moderate; demand moderate, market firm; Flor- ida, % bushel hampers, green, 2.50a 3.00; poorer, wide range prices, 1.50a 2.00. Cucumbers—No supplies on mar- ket; no sales reported. Peppers—Supplies light; demand moderate, market steady; Florida, pepper crates, fancy 2.00a2.25; few high as 2.50. Eggplant—Supplies light; demand moderate; market steady; Florida pepper crates, fancy, '2.00a2.25. Squash—Supplies vetry light; de- mand moderate, market firm; Florida, pepper crates, fancy, unwrapped, 8.50. Carrots—Supplies very light; mand moderate, market steady: sales from storage; California, Western lettuce crates, 3.25. Beets—Supplies light; demand light, eady Texas Western let- bunched, 3.50; Florida, loose, 3.00. Fixed charges for the vear 1927, adjusted to give effect, as of January 1, 1927, to the refunding program includi the issuance of these Bonds, and with contra items excluded, would have been approximately $15900,000. o SECURITY The First and Rg!undiru l}loruagu covers 1,347 miles of railroad owned in fee, leasehold in- terests in 847 miles of railroad and the rights of entrance to and use of the Grand Central Station.. The mortgage is a_first lien on 435 miles (including all of the main line from New York to Spring- field), and, subject to closed mortgages securing $62,714,000 bonds outstanding with the public, is a second lien on 900 miles of the mileage owned. » ooy aBronenSh neasarme e T RS =ra=1Y 105% 108 106% 102% 108% 104 100% 103% 104% 107% 105% 105 St L8 W con ¢ St P & KCShL ¢%8 Seaboard AL 4s sta o The First and Refunding Mortgage as amended will limit the issuance of bonds thereunder to an amount which, after adding the outstanding prior debt and deducting the amount of bonds reserved to retire prior debt, shall never exceed twice the outstanding capital stock and premiums paid in thereon. The foregoing is subject to the more complete statements contained in the circular, a copy of which may be obtained upon application. Han 8 LTSS o 1t sfer " Tran. . i2.., | Por Ric Am ¥ob 6s ergenthaler Tinotype : 5 Public Service 5%s Drug St Public Service €s. . B “Etocage. P Serv Gas 5%8 69 Gty 65, i P Serv Gas 5%8 64 o S D44, Remington Arms 61 odleal Bide. Cord: Stnclair O11 6 ard & Lothrop Dia Stnclair Ofl 96% 96% eBx-dividend. 11% % extra. 1% extra.|Sinclatr Ofl 100% 100% S market ‘WOOL MARKET QUIETER. i tuce crate; epper crates, BOSTON, December 22 (Special)— 106% 108 PepR xcept for slight activity in terr] 103% 103% Py the wool market today wus 107 107 BACK L0G GOOD: quieter. Fine territory. clean basis. 108% 108 NEW YORK, December 22 ().— wes guoted. at 113 to 115 French 9% 95% The steel industry in' the Middle mbing, 1.08 to 1.10; half blood, 1.03 105% 105% e N, v e e to 1.08; three-eighths blood 95 to 91, 1085 108} a substantlal volume of unfilled or- 20 4 quarter blood, 85 to 87. Ohlo grade 101% 101% ore e an &t the beginning of flescs; grsase basis ranged from 47 106% 108% any quarterly period in the last nine West leo 6. months, Youngstown dispatches to to 50, 103% 103% - Westn Union 6%s. ‘Wall street report. Producers are 112w 1124 GOODS . Westinghouse8a.. 13 108% 108% encouraged by the steadiness of new D;}u( &cemglgl:gmcm) Witson & Co st $s. 10 business. Consumers are trying to - 100% 100" s more. mulii ] T WlyeOYSNRY, | 3 e keep down inventories the Test of «~Cotton goods v : J. P. MORGAN & CO. Toungetn St 6a. 1 104% 104% 104% the year, but enlarged specifications cloths |£gmpriqc:;“|énc&an§ m:'enu;P o are anticipated after the turn of the S were firm in a quiet market. FIRST NATIONAL BANK, New York THE NATIONAL CITY COMPANY Atlantio C Lol 4a... 34 KIDDER, PEABODY & CO. LEE, HIGGINSON & CO. 109430 | B &0 682000 RAILROAD. and at 9 cents for 68x72s. Raw year, TREASURY CERTIFICATES. | tancLases.. 3 B&Orerss..oee Sou Pacific clt Sou Pacific ref 4 A 17 THE ABOVE BONDS ARE OFFERED, SUBJECT TO PRIOR SALE AND TO THE CONDITIONS STATED BELOW, AT 91%% AND ACCRUED INTEREST, TO YIELD 5% TO MATURITY. The right is reserved to reject any or all applications, and also, in any case, to allot a smaller amount than applied for. All orders will be received subject to the due authorization, issue and sale of the Bonds as planned, and to approval by counsel of the form and validity of the related documents and proceedings. The amounts due on confirmed sales will be payable at the office of J. P. Morgan & Co., in New York funds to their order, and the date of payment (on or about January 5, 1928) will be stated in the confirmations of sale. Interim Certificates, exchangeable for definitive Bonds when received, are to be delivered. Southwest Bell 58, Standard Ofl N J 68 Tenn Elec Pow 6s. Toledo Edn 1st 7s. USSteel sf6s.... Utah Pow & Lt 5s. Warner Sug 7s 41. West Shore 48 Whel& LErfé%s 2 97 93% 93y | WisCengndsdéd.. 15 88% 88% osw 984 - % 93% LINE e RUBBER DEC 8. 1024 1024 102%| NEW YORK, December 22 (Special). 5% 5 75 | _Crude rubber, smoked ribbed, sheets, 6 97% 974 974 geclined % at today’s noon quotation 100 1004 100% o0 go “rnis compares with 38% a month ago and 39% a year ago, PRICES ON PARIS BOURSE. PARIS, December 22 (#).—Prices were steadier on the Bourse today. Three per cent rentes, 58 francs 40 centimes; 5 per cent loan, 78 francs 40 centimes; exchange on London, 124 francs 2 centimes. The dollar was Quoted at 25 francs 39% centimes. Atchison ad) 4s, Atchison gen 4s... At&S Fovt 43 06-5¢ 17 (Reported by J. & W. Seligman & Co.) Atl&Dan2d4s48. § e~ = "°‘”"'m B &0 Gold 48 ggflo:;‘g N B & O av 4 %, 104% 104% 104% l‘)fi 104% 104% - «