Evening Star Newspaper, January 23, 1928, Page 11

STRENGTH-SHOWN ™ Market today: INDUSTRIALS, Hixh, Low, 1:30. Trade at Rapid Pace—Utility Shares Active—Sheaffer Pen Off. Ala Al Pick bar ve: Alum Co w1 Atum Co 0 pie Cyanamd B 483, pld 6 BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star NEW YORK. January 23.—The Curb Market todaf gave a mm-mrx::“ dem- onstration of the underlying strehgth of the main body of stocks. Trading started off at a rapid pace with the upward movement predominant. After the early demand had been supplied the volume of business tapered off. but the | improvement was well maintained. f the agitation for a congressiona! investigation into the affairs of the | prominent public utility_organizations was having effect upon “sentiment toward this class of security, it was, not_reflected in the market for the | stocks. Util: interests themselves | have said they welcome such an in- | vestigation. It was announced today ' that the secretary of State of Illinois | had granted the Middle West Utilities | permission to acquire, own, sell, trans- fer and pledge stock of other corpora- tions in that State. This is taken to ! foreshadow enlargement of this corpo- ration’s activities American Gas & Electric was bid up more than a point, Electric Bond & Share a ‘half point or so and United Gas & Improvement almost 2 points. Lehigh Power securities was respond- ing to the report for 1927 showing $1.30 & share earned on the common, S .13 in 1926. Sheaffer Pen 300.000 shares of no par common were admitted to trading and changed hands between 48 and 4435, while the old shares are off 20 points at 900. The $20.000.000 Westphalia United Electric Power Cor- poration first mortgage 6s series A also were admitted. These bonds were offered for public subscription at 92% and were reported as oversubscribed. | Leadership of the mining section was sssumed for the moment by Bunker Hill and Sullivan. which was bid up over 10 poinis te a new high record. There was nothing outside of earnings w0 account for the demand. although | the financial position of this company for some time pasi has bsen known to | & pid. 1 i e Wi Ve wid D P A pfd 1 Durk Rup p 2 Du: A 1 Duz Co o E. NEW YORK CURB MARKET Received by Private Wire Direct to The Star Ofice be exceptionally strong. Newmont held comparatively strong | The oil shares were featured by urgent demand for Imperial Oil of Can- ada. up almost 3 points: International | Petroleum, up almost 2, and Eureka | Pipe Line. up over 3 points to a new high in more than a vear. Gulf Oil | of Pennsylvania shot forward 2 points or more and the buving of issues inter- ested in the development of South American properties was of more than | passing significance. Other features included renewal of onerations for the rise in Firestone | Tire. & rise of 3 points in Brockway | Motor, symnathetic with strength i | other low-priced truck shares: a fresh | top for over a year in Swift Interna- tional and a new high in Consolidated | Pilm Industries. | SR | WHEAT GOES DOWN ON LIVERPOOL NEWS, Weather Outlook Also Factor in| 1 Sagging Tendency of Grain Values. 1 4 1 | a0a | By the Associated Press ! CHICAGO, Janusry 23— Wheat -~ 1% ! tended downward here early to- Pavorable weather led also to selling .- Ovening unthanged to % , Chicago wheat subsequently un-| t some further sag Corn start- ed '3 te % off and later held near to, the initial range. Oats were easy. Pro- visions held steady. 0d. WU e pi W oh Hud P 2 pf 106 ohaw K " o RS MERGER RATIFIED. NEW YORK, January 23 (). —Btock- hniders of United States CA:‘ Co. M\‘e{' ratified the acceptance by directors of | an offer by Continental Can Co. fo: the | gurchnc of its assets, Four shares of nited States Can common stock will be of Continental, for five - e POTATO MARKET DULL. CHICAGO. January 23 (® (United States Depzriment of Agriculture) — Potatoes—Receipls, 93 cars: on track, | 253: total United States shipments Sat- urday, €40. Sunday, 21 cars: demand | =n. . round whites. Minnesota, sacked, round whites, Re River, Ohior and Russets, 140a150: Jdaho, rasked. Russet Burbanks. 170a ' 1.85; partly graded. 150a1 60 new po- tatoes. Plorida, bushel crates and ham- pers, Bliss Triumphs, 2.00. SHORT-TERM SECURITIES. (Reported ur ) & W Seiigoun & o [ snn &4 MINING WTOCKS Vanbora PEK SHAKE. ANALYSIS, Whiat bs Burk uf Vack whurr Tote re wsmite I G INDEPERDENT OIL $TOUKS Ddieds B0 Am Con ) R W sacibm 49 or e | THE EVENING STAR. WASHINGTON, 1. (i MONDAY, JANUARY 23, 1928, 1agen Am Toe Be A 188 3 g M 1w 101 s i Rieh O Cal wid ~ Roval Con O & Salt Ok ! B 0 a3 21N 2NN i NDARD O1L Iss© s R SUBSIDIARTD W00 Anslo Am Ol 201, 5 A s & 100 INTL g 0% Gn 200 Prarie 1L 1008 0 Ohio ., /00 Vacuum 00100 144 BONDS g Asher Pack v Am B w4 e o Bl b € G An 018} o fit ' s U A 1N Ruis s 40 10t T A ST 5 e A 10110 Gram 1011} roonm Gl 100 Webster Mil 6154 6 Pow Rles A BNIG Ch Blew 07 103 | Sates in Fon RONDS Arintie MR 100 R 1o 3T 4 067y Ao wn el P Ba 1001 P 2070 z £ : % : 5 g i | 1 1o, Ty | increased at the Pecrless plant follow- | Commodity News TURN OF MARKET SHOWN BY INDE Industrial, Common Stocks Fell Average of 2 Points During Past Week. WILLIAMSPORT, Pa., January 23 (8pecial).~The Lycoming Manufactur- ing Co. a large maker of automobile engines, now is turning its attention te airplane motors and is about to begin manufacture on a large scale after a long period of experimentation. KANSAS OITY.—The Long Bell Lum- ber Co. has purchased 57,328 acres of timber 1and in Washington from the Weyerhauser Timber Co. It is antici- pated that the Long Bell Co. will have a production in 1928, pin A decided turn-of the long rising market was seen in last week's price in- EW ORLEANS.—Imports of coffee NEW ORLEANA.—Imports of o0fee || 1o 'o¢ industrial common; stocks, which throughout this port in the last year | were the largest on record, totaling | 3,058,035 bags. This was an increase the previous week. Motors and steels of 72.856 bags over the previous year. | continued to fall in price and with total Importers expeet to bring in more than | VRlue trading dropping $60.000,000 sales 4,000,000 bags in the next 12 months. | did not save falling prices as they did a week ago. The two points rise of have been | YOUNZstown Sheet & Tube and a i | one point rise in American Steel Foun- ing a liberal number of orders received | S, Were the, only: exceptions to the aa n result of the utomobile shows. | Seel, drop. U B. Steel dropped ! The Chandler-Cleveland Co. has been | Fa% 0 U0 1Ie avernde doly prse 51 Lnr;vnslnn pmdlrl;'“"{\ ma‘: cxpects 10 comotive fell 3, American Car & Foun- uild it up to 150 cars a da dry 1, and New York Air Brake fell 2 points. « Motors shares were the other domi- nating factor in the general slump, with Nash falling 4 points and its totai trading _dropping from $19,000,000 CLEVELAND.—Opcrations PORT ARTHUR, Ontario.—-A 6,000 - 000-bushel grain elevator will be ready for occupancy here in the coming vear. according to Saskatchewan Wheat Pro- | ducers, Ltd., & co-operative grain mar- keting pool. This will bring the grain storage. controlled by the pool at the | points and General Motors dropped head of the lakes to more than 22,000.- | 2 points from its average price of the 000 bushels. | preceding week. P—— ompact survey of Stock Exchange movements is furnished by the in- dexes and percent of return viclded by the level of prices of common indu: | trials during each indicated period be- low: the previous week. . St o A Pris e Mun St [ R Though oils dropped generally in PR Mor bk Chile L price their value went up. helping to t Mot PR Den 3 R 500,000 The average daily volume of trad- ing for the preceding week was $181 1 300.000 and for the corresponding week a vear ago was $69.700.000 | Those figures present the actual value of the average dally Stock Exchange tradings in common industrial stocks computed from the prices and the num | ber of shares traded in each stock. 1 Convrizht 1028 ) Ay HIRSER TN s GUR FAMOUS GREEN BAG COFFEE It’s so palatably mild; and delicately sweet—that it will win its way into your preference on its real merit—and changeless quality. 5¢ a pound Sold only in our stores Sanitary Grocery Co., Inc. Stores Everywhere—One Near You 0000000000000 00 O A mmlumm||||m|||nnmmmmmmnmmnnmmmimmmmwmmmm fell on an average of two points from | to $7.000,000 value | while Mack Truck and Hudson fell 3 | balance the week's total sales at $116,- | TOBACCO TRADE LIGHT. ' Money and Prices ! | Receipts and 8ales of Maryland Irving Fisher's Index of the pur- | chasing power of the dollar showed a | total pius departare of 4.5 cents last | Leaf Continue Light. Special Disnateh to The Star BALTIMORE, January 23.—Both re- ceipts and sales of Maryland leaf to- bacco continue light, only 63 hogsheads | being received last week. while sales | totaled 68 hogshedds, leaving a stock State tobacco warchouses of 10,1 poglhmdfi and 591 hogsheads of ground | leaves, Market holds firm under a good dr- | mand, especially for all old crop ciz- arette grades, Quotations today f Maryland leaf tobaceo per 100 pound: Inferior, 500a8.00: frosted. 300a4.00 | - sound, common and isn, 9.00a < 1726 16.00.° good common, 17.00a30.00 . . medium, 31.00a40.00: good to fine red, 41.00255.50; fancy. 5600a58.80: seconds, common to medium, 5.90a24.00; seconds good to fine, 25.00245.00° upper co air cured, 3.00a25.00; ground lea: week from its 1926 value of 100, as | compared with & rise from 100 of 51 | cents the week before and a rise of 4.1 | cents a year ago. | The weekly index of wholesale prices. computed from Dun's quotations of | about 200 commodities, rose to 95.7, a3 | rompared with 05.1 the week before |and 96.0 a vear ago. With 1926 taken a8 a base of 100 these figures show the changes during the past few years: Whole. Purehasin NEW YORK MARKETS. Cable advices from London report that the index of wholesale commodity prices in England, as compared by EW YORK, January 23 (#) —F] Clump. rose to 94.7 last week, a8 COM- steady: Spring patents. 685a7.25; so pared with 044 a week ago and 96.8 winter straights. 6.25a6.60; hard Win- a vear ago ter straights, 6.60a7.00 Rye firm: No. Ttalian prices were 749, as compared | 2 Western, 123% . 0. b. New York and | with 921 a vear ago. 1.217% c. i. f. export. Barley steadier | (Convrieht No. 2. 1.08% c. i. 1. New York. Pork quiet; mess, 33.00; family, 36.00a38.00. Lard steady: Middle West, 12.55a12 65 Tallow steady; special 7 3 ex- tra, 3%. = $85,000,000 SPANISH LOAN. MADRID, January 23 (#).—A bond issue of 500,000,000 pesetas (roughl 1$85,000,000) will be flcated by the gov- ernment on February 3, it was an- nounced today. The bonds will be soid at 98, bearing 4! per cent interest. The money will ‘be devoted to p improvements. 1925 ) FARM BUYING POWER HAS NEGLIGIBLE RISE | Hams, hogs. lambs and sheep favored | the farmer last week in slightly sending | up the price index of his product: | while his purchases remained at practi- cally same cost. The relation betweea these prices, however, brought only a negligible rise in farmers' purchasing power. Index numbers of farm purchasing power and of agricultural and nem- agricultural prices for various perfods | are given in the following table, 1 \\(:xch the average for 1926 represent's 100 GENERAL MOTORS SALES. NEW YORK, January 23 (#).—Sales of General Motors Corporation in De- cember were 53,760 vehicles, against 80.539 in November and 52.729 in De- cember, 1926. The total for 1927 was 1.554.577. against 1,215,826 in 192% and | 827,056 in 1925. PLANS BIG REFINERY. NEW YORK, January 23 (#).— Standard Oil of California, throuzh a subsidiary to be known as Pasotex Petroleum Co., plans construction o: & I'refinery at El Paso, Tex.. to cost 37 000. A fract of 125 acres has been chased. The plant will have capacity i '1;)000 barrels daily and will employ 150 ! men. 50 100 0 128 ) 100.0 ht VIRGINIA IRON LOSES. NEW YORK., January 23 (#).—Vir- minia Iron. Coal & Coke Co. had net loss of $170.200 for 1827, subject to nventory and other annual adjustments. compared with net _income of $75.465 the year hefore. The fourth quiarter showed net profit of $9,636. i HMHIMHHWWIMMlfiINHflI|mIIlH Nobody - can make a good cup of coffee with poor coffee But with Green Bag Coffee you can be sure of satisfaction Coffee flavor is something you cannot describe. But you'll recognize it as the “right” flavor the instant you taste GREEN BAG COFFEE. z : 3 g 8