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,THE WASHINGTON HERALD: SATURDAY, JULY 27. 1912.
Hard Ccaleis Are Strong, but Na
tional Biicuit Continues
. to Drop.
PLANS $60,000,000 BOND ISSUE
Br BARROW SERVICE.
New Toric, July 56. There wai a gen
era! advance all alone 4he line at the
opening this morning, but by the middle
afternoon, the market had. turned dull
and eased oft In spots. The undertone
was 'excellent and there was not1 a posi
tive weakness in the active list. Oeneral
Electric declined, but it waa because of
realizing on the declaration of the 30
per cent stock dividend which had been
discounted for several weeks. The weak
ness in the issue did not hurt the gen
eral list. The hard coalers nere strong
at the opening, but eased off later. Na
tional Biscuit continued its downward
movement with Loose Wiles Biscuit
Ccmpany still climbing the other way.
Owners of 4j per cent debenture bonds
of the E. I. Du Pont de Nemours Powder
Company, the trust dissolved by the gov
ernment's order, may start a movement
to reopen the case, as they are dissatis
fied with the treatment accorded the
bondholders In the dissolution plan. The
splitting up of the properties into three
companies, they claim, reduces the equity
behind the bonds, the trust Indenture
covering them saying the company shall
have power to control its property at all
times lor sale or any use It sees fit. The
bonds outstanding total JH.M8.C0O.
Reading's net earnings available for
common stock dividends for the fiscal
year lust closed will be in excess of 1H4
per cent on the 570,000,000 common stock.
This Is about K of 1 per cent, below the
average of the past five years and over
l per cent. less than lsll net earnings.
Plans Stock line.
The balance sheet of the new United
Cigar Stores Company of America, taken
from th condition of all component parts
on June 1. show s total assets of J37,79S,ES,
of which about J12.Ou0.0fXI is quick assets
and the balance real estate and good
will. The outstanding capital stock Is
reckoned at 31,700.000 out of J33.O00.000
authorized, and immediate liabilities at
J3.600.000, leaving a balance of quick as
sets of about JS.JO0.000. The surplus ac
count totals iZSOT.So.
The General Electric Company's plan
to Issue $00,000,000 debenture bonds results
from the new policy of the directors to
increase ihe dividend rate and to use
these bonds Instead of earnings to pro
vide working capital.
Net tarnlngs of tr- Westlnghouee Air
Brake Company in 1912 are running at
the rate of 3) per cent on Ha JIS.600,000
The annual report of the Union Pacific
ti!11 show about It per cent earned on
the common stock, which will leave a
balance after the common dividends of
about $$.700,000 for depreciation charges
ard surplus. The road now has a surplus
account of over $200,000,000. which will
make a good "melon" for cutting some
day. It is equal to about Jo per cent on
the common stock.
The placing of many loans for fall
needs with the banks is at least a month
7-hcad of the usual demands for such
leans and may have the effect of keep
ing ratc3 from undue firmness later on.
Usjally in the late summer and early
fall there Is such a rush for money that
hanks are forced to raise their loaning
rates by It even when there is plenty of
Great Northern stock has been the
lrader en the market for several dajs
because of Its great outlook for the
current j car and Its good earnings, equal
to 12 per cent on the stock for the past
NLW Y0BK MONEY.
Xrtr York, Jnlj X-JIorny on rill it the Stock
Exchanjs to-Jir opened ilSrn crot: hishnt. Ti;
lownt. IV,; rlodac. ?s pw cent. Uot of the !ij"
loans were mada at 2S per cent.
The chant noted late jestrrdsj In time money was
maintained, and rather accentuated to-daT. The de
mand was larselj concentrated on the six months'
matiintr. which was eitremelr scarce. Lenders
chledr offered mnetr-dar mooer, which did not
eerecialb appeal to borrowers. The Tolmne of busi-
" " nrr woras, was not Terj larje, but those
eecklnj accommodation had to submit to the lender's
Ijolnt U tiew. Rates: VitVi per cent for alrtr
oars. 34a3? per cent for nlnetr days. 4 per cent for
four montha. Jal4 per cent for Are months, and
ISaiX per cent for six months.
Mercantile paper was affected by similar coodltiona
io immc pfenning in time moner and was quoted
uuotT. cujro.wrre interested in th market to a
moderate extent, hot insisted on full rates. The as
sortment waa quite lane. Rates: 4aS per cent for
slxtr and nlnetr days' indorsements, 4Ha5 per cent
fcr dioise four and six months' single names, W4 per
Interior mooer rates unchanged.
WEEKLY BANK CLEARINGS.
New York. Jclr 2S. Bank- rfesrinn . t.- tti..
States for the week ended Jolr S anrecate
rna.ra.0CO to this week last rear. Fuinwin .
the-returns for tils week with percentages of change
?5 rrt lSG.7C3.ax)
Chicago . .... ..... Zi.Ul.cn
Philadelphia .................... jnjaooo
SU Loots .. 6T.XJ.000
Kansas Otf. .... , 60.000
rtttsburg . 5XS51009
Eaa Francisco............. grisooco
ew Orleans...... ... .... ie.tS3.O0 "J7.9
Detrott .... ... 19 9M.0D0
Los Ange!es........................ 2iroao
Loulsrille . .................... H.S5L(m
Seattle .... 10.630.000
Bt. Paul 1M5S.O0O
Nesr Tork. 'July 26. Closing Quotations of miscei
New Tork Cenjrsl 4s. 1980 :... J014
Atchison. Topeka ft San'a Ft gen. 4s........ TH
Atchison, Topeka ft Santa Fa crt. ts, 1980 . 101
Atlantic Coast Line 4s.' 944
Baltimore ft Ohio gold 4s... 17
Brooklyn Rapid Transit 4s. K
Central Pacific 1st U .......................... 93
-Chesapeake, ft Ohio gen. 44a 100
Chicago. Burlington ft Qumey joint 4s............ 96
CM.iSLP.ut 44s, when issued,.. 10m
Chleagov Rock Island ft Paelfio rfg. 4s....... as
Colorado ft Southern Hs... ...... ............... ft.,
Ooeral Motor sinking fund 6a..w................ uo
Great Northern 4s..................... joo
Indiana Steel 5s. trust company ctfs. H0S
IsterbortMetTornlitan 84a..........HH...H... 824
International Mercantile Marina in............. 64
Lackawanna Steel 5s. 1930......................... 104
Lackawanna Steel 6s. 1915....... tc
NswTcrk Railway adi. 5s........... to
Norfolk ft Western oSr. ts... tl
Northern PadSe 4s ...HM........ 59
Oregon Short Line rfg. 4s....
P. LcriUard 5s..... .
Beading (en. 4s-.. ........ ............
Southern radne rfg. 4s...................
UultedJStatea Steel sinking fund Js.....
Total sales. P,C3,09X
NEW YORK STOCK MARKET.
Quotations furnished br W. B. Bibbs ek Ca,
members of the New York Sloe Exchanae, mobs
. . Open. High. Low. Close.
f- T'. 8. F. com...... IDS lors 10H, KISS
Auanuc v.osai iune.... ill
Baltimore A Ohio com... 1H
Brooklrn llapid Transit.. XM
Canadian IlrlUc .......... je$
Chessprskt & Ohio. KPi
93i 1X II
2tt SWt SB
ChL Ot. West. com..' II H
a. M. ir St. P. com..... 104 lot
CM. & N. W. com.. no no
Delaware A Hudson 107. X.Vi
D. ft K. O. com 11 U
D. ft It. U. pfd Sti
Crio common ............. X
Erie 1st lii.;. E3S
Great Northern pfd 133
Illinois Central 111
Inter-Met. common ..... SHi
Inter-Met. pfd. .........l E8H
K. C. Southern com. Tt
Lehlch Vallej lEDt
LoourUIe ft Naabrllle.... 157T,
Mo.. Kan. ft Tex. com.... SL
M. 8. T. ft 8. S. M. com. MI
M. 8. P. ft 8. 8. M. pfd.. IS
Missouri I'acile VtM
N T. Cent, ft Bud. R..... IKH
Norfolk ft Western 11C
Northern Pacific . 13H
X 3W S!i
IU 1 HJH
IS uut IS
UH lit IK
in H64 in
P.. C C. 4 St. L........ ion. 10IH
Reading common .......... It IS 1ERI
lEocx Islana com.H...,
Bock lalsnd pfd
St. L. ft S. F. M pfd.
Southern Pacific com..
Southern Railway com..
Texas ft racinc.
Third ATenue ...
St. L. t West. com. 131.
T.. St. L. ft West. pfd.. 31'.
Union racinc com... 169
Union Faclne pfd KKi
abash common ........... I i
West. Md. Br. com. a
Amalgamated Copper. KS 834
Am. Ileet Sugar comT ra. 7i
Am.-Cr com 3SH XM
Am. Can pfd 11IU 11714
Am. Car ft Foundry com . SSH ml
Am. Cotton Oil com. si S3
Am. Ice Securities......... rH eJS
Am. Locomotire com iihk UM
Am. Sm'tlng ft Ret. com.. S3 M
Am. Sugar Ret. com 13 12S
Am. TeL ft Tel 1IM 11H.
Am. Woolen pfd 89 89
Anaconda Copper........... 41H 41
Central Leather com....... f 27
Chlno Copper . MS MK
Colo. Fnel ft Iron com.... 31 31
Coruclidated Gas, N. T... 1H
llt'i 1 1H4
Corn FrodocU Bef. com... II. 14U 4 tliS
Corn Products Ref. pfd.... 82 K 815. U
PiUIUrrs' Securities 32 32s 32. 314
Genersl Electric 1M 1S14 m 1ST.
Goidficld Consolidated 4 4 4 4
Great Northern Ore 43 43 434 43
Inter. Uanester com 1304 ISH 134 1334
Inter. Paper 13 13 11 15
Inter. Taper rfd .'.... S3 56 66
Miami Copper 23 59 294 23
National Biscuit com 134 134 1294 133
National Lead com 59 S9 584 584
Nerada Consobdsted Cop., a aH 21 a
Pressed Steel Car pfd.... 1014 1014 1014 1014
Rr. Steel Springs com..... 36 34 36 3
Ray Consolidated Copper.. 20 20 20 20
Rep. Iron ft Steel pfd... 8. 81 81 MS
Sloss-Sh'd Steel ft I. com. 55 55 55 55
Tennessee Copper. 43 43 42 4J4
TJ. 8. Resltj ft Imp 824 82 K4 82S
U. S Rubber 1st pfd 1054 IN 105 10S
D. S. Steel com JOS 75 704 7S
Utah Copper. 62 62 CIS 614
Va.-Car. Chem. com 494 494 494 494
West, rjec ft Mfg. com... 8C4 80 79 804
Amer. Tobacco (. 96 164 S6S 95
Amer. Tobacco 6s. la la 121 121
Atchison courert. 4s 101 W4 lx 104
B. ft O. general Is J7H S7S SIS 97
B. R. T. connrt. 4s 92 92 9T4 92
C B. ft Q. Joint 4s.... 96 96 16 SC
Interboro-iletro. 4Ss 82S 82 82 82S
I'tnna. conTert. 34a. 1915... S7S 97 97 97
Union radls conrcrt, 4s.. 1014 1C14 1014 101S
D. S. Steel 2d 5s. 112 112 1024 102
Ex dividend, 1 per cent.
tEx diTidend. 1 per cent.
Atlanta .. 25
Bay State Gas.
Braden Copper ....................... I
BrltUb Columbia Copper 6
Chicago Subway 44
Giroux Copper 4
Goidficld Florence 1 1-18
Greene Cananea ....................... 19
Intercontinental Rubber... 1Z4
Jnmbo Extension .................... 43
Kerr Lake 2
La Rose 3
Manhattan Transit. X
Mines Co. of America........ ........ S
Nerada. Hills 21-18
Nerada-Ctah II. A S. Corrorstion.. 1
MpiWcg Mines Company 7
United Corprr pfd
Chicago. July 26. Wheat ranged Ho to lo higher.
Closing prices were: July. 96; September, 93; De
cember, 9C; May. LOOaLtCS.
Com was Irregular. Close; July, 71; September,
65; December. 56 ; May, ETSaSTH.
Oats were beary and lower. Closing: Julr. 46;
September, 36; December, 31; JIar. 36a36.
WHKAT- Open, lilgh. Low. Close.
September ..... 33S
beptember M 10 75
September........... ... 10 60
4 92 3
96 964 M
66 65 CS4
56 55 C6S
33 33 33
33 33 3
182 1S.Q II 20
10.75 10.73 10.75
10.60 10 60 10 60
BOSTON COPPER STOCKS.
Quotations furnished br W. B. Bibbs ft Co.. mem
bers ot the New York Stock Exchange, Hlbbe Build
tog, Bid. Aakea
Adrentnre ............ ...... 8 8
Bolemia .................... 3 3
Calumet ft Arllocsu.. TS 76
Calumet ft neda. 533 53
Copper Rang 57 &;
East Butte ...............'. 134 u
Franklm ... 11 114
Indiana ... .... 17 iru
La Salle ........... 6
Mason Valley ...M..M............H llv
Mergenthaler ......................... 221
North Butte sri
North Lake s
Old Colony .. a
Old Dominion ................... 56
Oneco . rs
Quincy w. 904
Shannon . H jt
South Laka 9
Swift .'. vtx
Tamarack M sqi-
unltea Tuit ..u 207
Utah Consolidated....... 13
QaoUtloni furnished fcgr W. B. HXbbs A Co..
member of the w Tork Stock Exchange, Hlbbs
Hew York. Jolr 35. Acain new hlch trnrA
recorded In cotton controvert to-dtr On the ojmini
or -shortly afterward & itrons btrjinc morocent set
is, caosed byan tmiaronble eathr map and mncb
hlirher Xatrerpool cabin than expected. This found
the market ahort, with that lntrrcat aczlotu bnjera.
Then waa a moderate reaction from the openlnz
rricra. Throughout the Hsdna heary rrailzlns aalea
and bear treure were well absorbed bj aptnnerB and
for atpeculitiT aecocnt.
The weather map waa scnerallr free fram nfn
Temperatnrea, boveTer. were Tery hjjju
Urerrool fatnrea. doted InmiUr with a net ad
TaDce of from 1H to t pointa. BaXea of 4,000 bales of
apot cotton were made In LlTerpool to-day at 1 point
decline to TJld for middling. Mirtrbenrr quoted
jams quiet and firm; cloth quiet and steady.
rn. BJcb. Low. aoae.
Anrut. 11 U 1131 12.13 22.4)
Oct0lrT. ..... 12J1 12.TS I2.B n.n
Drcrmber.................. 1ZT6 1ZT7 E.C 12.TI
ilirch. UN 1159 IS.7I 1Z.G
FINANCE AND REALTY
Washington Railway and Electric pre
ferred led the day at the meeting of the
stock exchange yesterday. Seven trans
fers Were recorded, involving 260 shares.
The trading ranged from ten shares to
100. The price was kept steadily at So
without fluctuations. Capital Traction
stock figured In two deals, the price
being 124. Three lots of Norfolk and
Washington Steamboat were sold at 209.
The day 'on the whole wag very dull.
Gas remained quiet, S3 3-4 being bid, and
H 1-1 asked. Hallway common was not
In demand. Ninety-one was asked and
89 bid. Among the bonds JoOO Gas bs
sold for 110 1-2. Two ten-share lots of
Commercial National Bank brought 2C5.
For the week Washington Railway and
Electric preferred has been eastly in the
lead. There n t total of 1.2SC shares
of stock transferred, and 741 were of
railway preferred. One hundred shares
of Washington Railway and Electric
common have been sold during the week.
The face value of bond sales amounted
Report Several Sales.
Gardiner & Dent, Inc.. real estate
brokers, report the following transactions
closed during the last week:
For Carl H. Smith, the north est cor
ner of Thirteenth Street and Park Road.
It Is a two-story light brick, containing
e'ght rooms, bath, and cellar, and Is
heated by hot wafer. The lot has a
frontage of twenty feet In Park Road
by a depth of about ninety feet In Thir
teenth Street. The consideration was
JS.500. The purchaser, Hermon Hunt,
will occupy the property.
For Z. D. Blacklstone they have sold
to an Investor 1233-123S-n37 Twenty-seventh
Street Northwest. They are two
story bricks, each containing five rooms
and bath. The price was J7.CC0.
For Tyler & Jett. the premises at 12S
Thirteenth Street Northeast. It Is one
of a row of new houses recently fin
ished a two-story brick, six rooms, bath,
and hot-water heat. It was purchased
by a Carroll, the price being J3.0K.
For M. U Gottwals, KS Kenj-on Street,
a two-story brick, six rooms and bath,
Kith cellar and hot-water heat. It oc
cupies a lot 20 by ISO to a 15-foot alley.
For John C. Delchmann, the premises
at 121S Fifth Street Northeast, a new
two-story brick, containing six rooms,
bath, cellar, hot-nater heat, and hard
wood Interior finish. It was purchased
at a consideration of 33.S50. Mrs. Mary
U. Dunnlngton, the purchaser, will be
For Mrs. El'ia C. Woodall the firm
has sold to Mary T. Beall 3642 Thirteenth
Street, a two-story, bay-window brick,
containing six large rooms and reception
hall, and occupying a lot IS feet by
depth of 13 feet to an alley. The con
sideration was said to have been about
For Hermon Hunt to L. Corbln. 3017
Eleventh Street. It Is a two-story, bay
window brick, containing six rooms, re
ception hall, and concrete cellar. It It
heated by rot-air furnace. It was pur
chased at a consideration said to have
Baltimore. Md.. July J6. MILLFEED Srrlng
bran, in iOO-In. sseks. per ton. 25J032E.CD: flour to
white middlings, in 100-1U, .arkf. MCW.M.M: Western
middlings, in 100-lh. sscts, pre ton, 3.S29C0; City
Mills middlings, in 100-lb. sacks, per ton, 2S.50S29 00;
Citr Mills mkldlirgl. white. In 100-lh earks. ton.
35 00136.00: City Mills bran, in 100-lb. aacks, per ton.
ui.roeK in eieraiora. 9.;r Duineut; sninmems
from elerstors, 231 bushels. Bsg lots, nesr by. mm to
OATS-Slock in eierstnrs. 81.675 bushels; shipments
from eleratora. 10.195 bushels. Na 2 white. 65; stand
ard white. 64i6(4: No. 3 white. 63464.
ITAY-Na I timothy. 25.00s25JO; No. 2. 21(IOs2J;
No. 3. 19.00U205O, cnoice light clorer mixed. 2100a
22.50; No. 1 mixed, aoda.90: No. 1 mixed. ll.SOa
20.SJ. No. 1 doier. 170)al.0, da. No. X U5OS16.0O,
meadow grsss snd rery grsvr hsr. 13.OOsl5.0O; no
grsde hay. as to kind, quality, and condition, 10.00a
16.00; packing hay and swsle grass. 10 00.12.00.
STRAW-No. 1 straight. 16.00aI7.00; No. 2 straight
rye straw. 15.50al6.00; Na 1 tangled rse straw. 12.t30a
12.50; Na 2 tangled rje straw. llOOall.50; Na 1
wheat straw, 9.50.10.00; wheat straw. Na 2. 8J0s9 09.
Xa 1 cat straw. 9 50.10.00. Na 2 oat straw, L5Os9 00.
BCTTEn-Cresmery, fanay, per lb.. 274; la,
choice, lb., 26aZ7; do., good, per lb,, 2U25; da,
printa. lb, 2Sa30; do, blocks. 2Ta29; ladles, per lb.,
21s22: Msrylsnd and rennsylrsnla rolls, lb.. 19x20
Ohio rolls, lb.. 19; West Virginia rolU. per lb.. 19
store packed. lb.. 19; Msrjland, irginla. snd Penn
silrania dairy prtnta, per lb., 19; process buttgr.
EGGS Marjland. rennaylrania. and near-by flrsta,
loss off, 20; West Virginls. I9a20; Western ami,
loss off. 19s20; Southern -firsts, lrms eff, 19s30.
GREEN COITEE The market to-day wasstesdr.
No 7 nt (Rio grade). 11.
ROASTED COFFEE The market was steady
WEEKLY REVIEW OF TRADE
Volume of Business Up
New Tork, July K. Dun's review to
morrow will say:
'Statistics of trade movement tell of
rolume of business quite up to normal.
Bank clearings this week are slightly
reduced because of a loss at New York
City, but at other leading centers the
gain averages il per cent over a year
ago and 7J per cent over 1910. For July,
date, the Increase Is 3.5 per cent.
compared with both preceding years.
Railroad earnings for the first half
of the month exceed by 1.8 per cent the
earnings of the same roads a year ago.
Foreign trade maintains the high
movement of the fiscal year Just closed.
Latest returns at New Tork aggregate
for the week 3i,:50,333. against J31.C30.0CXJ
year aga and S3.CO0.CO0 In 1910. Ex
ports Increased largely, while Imports
were practically the same In value for
the three years. Betterment In growing
grain, which promises so much for fall
trade, naturally depressed prices In
wheat and com. A further reflex of the
excellent progress made by the crops Is
the tendency to provide more fully for
future needs at Northwestern trade cen
ters. That Industrial lines are well em
ployed Is Indicated by the advance In
products of Iron and steel and by the
better demand and higher prices this
week for copper. A moderate trade is
noted In cotton goods. Higher, prices
have been announced for some grades,
and the market throughout s very
strong. The' demand for woolens Is
about all that could be desired, and raw
wool Is readily taken at trie higher
prices asked. The shoe trade makes a
further gain thlrf"week, and New Eng
land and other manufacturers constantly
receive some additional order, but the
higher prices still tend to check busi
ness. Prices In leather and hides move
upward, and available suppl'es are ap
parently reduced. There is no Indica
tion of undue speculation In any direc
tion to threaten future stability, and the
firmer values In practically all depart
ments of trade are sustained by the con
stantly Increasing requirements of con
WASHINGTON STOCK MARKET.
Regular soon call. Baka:
Washington Gaa 5s. $503 at 1104.
Capital Traction, 1 at 134. at 124.
Washington Railway ft Electric pfd.. 25 at 95.
at 95. MO at B, S3 at 95. 10 at C 25-at 95. 25 at 95.
Norfolk ft Washington Steamboat. 10 at 39, 5 at
209. 19 at 3)9.
Commercial National Bank, 10 at 205.
Commercial National Bank. 10 at 296.
Georgetown Gaa cert. tad. is............. 1 .....
Georgetown Gaa 5s. 10
Usshlngton Gas 5a. .. ... lli
Capital Traction 5s Ill
Anscoetia ft Potomac 5s 994
City ft Suburban 5s 101
Columbia 5s 100
Columbia 6a . 1CI
Metropolitan 5s 10T
Washington Hallway ft Electric 4a. 83
Washington, Alex, ft ML Vernon ts.... 92
Potomsc Electric cons. 5s K3
Potomac Elrctric Light 5a. 10o
Chesapeake ft Potomac Telephone 8s.. WW.
American TeL ft Tet ts 11
D. C. Paper 3fsnufacturuig 5s . 100
Norfolk ft Washington Steamboat 5s.... 101
Rlggs Realty 5s (long) 103
Rlggs Realty 5s (short) 101
rUBLIC UTILITY STOCKS.
Capital Tractirn 122
Washington Railway ft Electric com.. 89
Washington Railway ft Electric pfd.. 91
W'ashington.Vlrgin!a Railway com 51
Washington Virginia Railway pfd 79
Norfolk ft Washington bteamboat, 208
Washington Gas t3
Georgetown Gaa 129
Esstera Light ft Fuel
Ameriesn Tel. ft Tel 141
Great Falls ft Old Dominion 109
TYPE MACHINE STOCKS.
Mergenthsler Linotype 221
Lanston 'tonotyis 91
Greene Cananea 94
Farmers ft Mechanics 2C)
National Rank of Wssldngton 23)
TKUST COMPANY STOCKS.
American Seenrtty ft Trult, 297
National Sarings ft Trust. 2S0
Union Trust . . 110
Wsshirgton Loan ft Tr-rt. 235
United Ststrs Trust 140
SAVINGS BANK STOCKS.
Bsnk of Commerce ft Savings............ 12
East Washington 15
FIRE INSURANCE STOCKS.
National Union 74
TITLE INSURANCE STOCKS.
Real Estate 99
Cbapln Sacks 165
D. a Taper Mfg Co. 134
Emerson steam luap ....... .....
Grspbophene com. 36
Graphopbone pfd. 75
Security Storage ... 2TO
Waihlrgton Market 17
naltimorr. Md. Julr 3 -WHEAT Stock In ele
Titivn. 405,423 botaVts. &hlimeat from rieTtltn,
2400 bahel. A good dftnind walt jtrim loci ot
new Southern wbrtt, aud tht market t tedjt with
tecejptt bctrr cleaned up early from dr to day
8ala of carcne on icrade it 99 far No Z red; 934
for pccial bin itaramer No. t red. 95 for ftoek
vteamer Na 2 red, 90 for rejected and J for can't
use and drier rtjrcted. Pat lot by fampie. aj to
niality and crndiUon, b-rnictit fD. ST. 85. 90. tt. J2,
6C 91, 95. , 9&4 and ST p-r buabeL Foretxn cur
keta were firmer
Contract today at tha openicc was firmer, with
July V? Sirrt No. Z red vheat early was rV
and A.Ljat tb same price, while September sold
at 96H. The market at the liti call waa firmer.
lth July V Si-ot No. 2 red wheat was 9S snd
Atlffust the same rrice, while Rept.?mber sold at
9T and steamer No. 2 red at 9U Set U In prices
oOdally pouted were: No. Z red. V&ii steamer No.
2 red. 91V.
COItN-Stock In elerators. 3.651 bushels. Shlp
ments from elerators. 677 bushels. The arrlTsls
of Southern com today consisted of abnnt 100 bush
el of prime white stock which met ready sale at
amd price. Quote Track yeUow corn for do-me-Uc
dfliTrry it t. per biisliel for ear lota on
stnt Under moderate offence and a fair demand
th market for cob corn ruled steady today, with
prime yellow near-by stock ncllinf at (.40 prr barrel
(Vntract today at the cpeclnc s dull, with spot
mixed corn TS nncninaL Tho market at the 1145
call was dull, with rpot mixed rn 7B. Settling
price oflcially posted Contract. Tt
NEW YORK PRODUCE.
New York Jolr 26 -lIILUEED-StrsdT; bn
ne.s insctlre Sring brsn. 21 00; tsndrd mid
dlings. 2760. Western red-dog, 33.50. winter wlirst
brsn. ia lQr"Uod sacks, to srrire. 25.75; citj brsn.
in tmllt. C3.IA
IlYE KLOrn-Slrsdr. dealings moderate. Oiolce
brands nnited st 4 5fa4 90.
COG.NJIKtI.-str.rlv. draUngs are slow Klln-
drlnl for export, 4.03al 01, coarse meal, in bags.
11.1 iril Steady, moderate dealings. Kanas
straights. ISJQxOO. in ends, .rring patents, S rh
7. In barrels, prlng clear. 4.75.5 00, soft wheat
to Normal and Every
New York, July aLBradstreefs to
morrow will say:
"This week's reports furnish a erltable
budget of good news. Practically every
crop prespect pleases, current trade Is of
seasonable volume, bulng for fall and
beyond Is expanding, the Iron and steel
Industry Is oversold, labor Is scarce, the
railroads are preparing for a heavy traf
fic In the autumn, gross earnings are
Improving, Just now no one seems to be
much concerned about political matters
In fact most Interest Is displayed In the
returns llktly to be made by the soil-
ana although retail dealers have to cut
profits In order to move stocks, busi
ness lias been stimulated. But life crops
occupy the pre-eminent position. Esti
mates on the country's wheat yield are
being increased so that a crop of 700,
000.000 bushels Is now predicted, this
being the third largest ever reported. The
spring wheat crop as well as that of
oats will be of record proportion.
"Delivery of clothes and men's wear
are to far behind as to cause some
dealers a little anxiety.
"Lumber Is active, especially In the
Pacific northwest. Groceries are In good
demand. Hardware and builders' sup
plies are well and though sales of shoes
are held up to some extent by h'gh prices,
these will, no doubt, have to be paid, and
consumptive requirements are such ss to
necessitate expansion In this line. Leather
Is firm. Hogs are at the highest point
this year, .but produce Is plentiful and
cheap. Flour Is quiet because lower
prices are expected. Manufacturers of
Jewelry are now quiet, but deem future
prospects to be better than for some time
"Business failures for the week ending
July 3 were 552, against rS3 last week
and 211 in the like week of 1811."
U. 8. con. S. reidjterea. 1930. jx4 VH
U. 8. eon. Ss, coupon, WX .1 looyj Will
U. S. 3s, resiitrred. M05-U 102 1C2
U. 8. 3s, ecapen. 1905-U 102 lK
O. S. 4s. roistered. 133. m 1114
O. 8. 4. coupon. 193...... 1UH 1114
Panama Canal IfrJO-reer Is. ret.. IS3S.. 100H 101
Panama CUnal 10-50-jaar U. res.. Jsn.. NXKt 101
Panama Casal Ss. retiaterM. 1M......... 10IS 101
Panama Canal 3a, coupon, 1361 uu, toiii
straights. f.9aS.W: new "Kansas straights, to arrh.
4.5Cat. New son straights, to arrire, 126.96.36.199, la
HAY-RaceiDta, 921 tons; steady; trad la doll.
Quotationa ant: For prima timothy, 1-35; No. 1,
"; a z, 1.C1UJ; ria w..
oTBAW-Eeeelpts. 50 tons; easier: boaUMas alow.
Long rye quoted at 75a80.
FORK-Steady; trade la duU, Mesa, 20.0202;
BEEF-Steady; Inquiry Is quiet. Packet, MJOa
17.50; family, 18.00aU.50.
COFFEE Thsre waa a good coffee market here as
well abroad today. The chief lncenUra to a higher
oasis locally was the excellent statement concerning
the foreign markets, together with moderate re
ceipts at primary pointa. the movement being coo
alderably under that of a jtar ago. The. day's
pnecs were as xonows:
Low. Today. Yes'day.
July. 18.14 13.10 13.10.ai2 13 0Oal3.Ol
August.... . ... . 1112.13.13 UOJaUOt
September..... 13.26 U 13.22sU.21 I3.10al3.ll
October .. ... 13.2Jal3.3l U16.U17
Noiember.... 13.33 13.33 13Jlal3J3 112U03.2I
LOCAL PRODUCE MARKET.
prices sre blgber.
1 below an for Urge lots. Jobber
EGCS-Nesr-bT freh Tlrginia. 17al: West Vir
ginia ara Ponlnwcst Virginia, 17; Tennessee, U.
BUTTER-Kgu). fancr. per lb.. 27Ha2l: WeaJern
crsrs. SbsSH; seconds, 26HSI7; store packed, :
1 CHEESE-Nesr Tork State 'actor, new, IS.
IOLLTRT-Ilens. per lb., ISsIlAa; roosters, per
IU.. S. tnraeTS. 13sl3: chickens, springers. 23a22.
DlttSMED rOULTRV-Ilens. choice, per lb., IU
I6H; tnrkej-a, per lb , 13; joong ducks, 12alS; chick'
VEGETABLES-Potatoes. new. No. 1. per bbL,
2.5Ca3.00; Na 2, prr bbL, 100aL50; corn, per do...
10a2S; rams (N. IX). per bbL, 2.75s3.tS; sweet, prr
crate. 75al.00: (Uanland). Per bbL. 2.25.175: Span
ish, per crate. 1.50; new cabbage, per crate, 33s30;
egg plant. Florida, per crate. L50U2.00; lettuce, per
tsuktt. 1 00.2.03: string beans, per basket. UaLOT:
per bbL, 2J0a3f!0; )uaah, IT bbL. SO. beets, per 100
bunches, LOOalOO; kale, per bbL. 9Ca75; spinach, per
bbL, 100aL23; tomatoes, per crstr, L73sZ50: cucum
bers, homa grown. 50.73: peas, per bbL. xvx.uK
GBEEN ITIUITS-Aprles. new. per baiket. 23
aSO; box, 40a00; bbl., lOa2J0; oranges. Call
lurnia, prr box. 3.75a 1.23; Florida oranges. I JO
sS.00; lemons, prr lox. 3.50sL00: grape Imit. per
box, 3.00a6.00; plneargHea, Iaz.Zi; watermelons.
13.0Co23.00 per hundred, cantsloures. per crste. LOOs
2.23, pesches. prr crate, I00al.75, huckleberries, rer
qt . Ciio; blackberries, Uli; plums, rer Qi..
currarta. rer at . Sail: graics. per carrier. L7Ia2.Cn.
II VY AM) SiTltAW-Haj. Western. No. 1. 24.00a
23.00. No. 2. 21CCa22.50: mixed har. U Xa.ro; straw,
rje. bale, 15 0C16.00. msdilne thrash, iCOaliCO;
strsw, wheat, per ton, 7 OOaS 00; straw, oat. per ton,
UVE STOCK-Sheer. Per lb.. 2a3H: spring lambs,
per lb., 7s7H; cslres, choice, per lb., Fiti; medmm,
per 111. TiisJ.
WOOL AND niDES-WooL wasbed. free of burrs,
per lb.. 33.35; wooL unwashed, prr lb., 23, hides, dry,
per IK. 13al6. green tijw. ir lb., 11; calfskins,
green, each. 1.23.1 S3.
(iltAIN-Wheat. prr bus.. LOOaLOS; com. shelled.
S0aJ2; ear. lr bbL. 4.83.S0O; cats. Wntem white.
Na 2. per bus.. 62s6; osts. mixed, per bos., 6fcC2;
bran. 2S.O.O0 00, middlings, 3aDOs32.00.
SEEDS-Hed clorer, per busheL lLOOslLSO; abske
doTer. 10.00.12.03, white dorer. 16.03.31 OT; rrimsoa
dorrr, 5.7SS6.00, timotbr 4.33sL73; blue grass. L75
123. redtop grass. 1330all.OO per 103 lbs.; alfalfa,
per bush., 12.ooal3.oo
Southern Commercial Congress
Starts Movement to Strengthen
A moiment with a .Iew to Increasing;
the trade and strcnBthentns the amica
Mo relations between the United States
and the other Pan-American republics
has Just been Inaugurated by the South
ern Commercial Congress. The project
The first aim will be to arouse the
Scuthern Central American republics to
greater Interest In tha last expansion
of American and South American trade
hlch Is bound to result from the open-
Inp of the Panama Canal In 1913. Efforts
HI also be made to diffuse Informa
tion among the American public with
respect to the steps alread- being taken
by the South and Central American re
publics to seize commercial advantages
resulting from the opening of the canal.
The second aim will be to furnish In
formation to American exporters to the
Pan-American republics with a view to
making them better able to compete
with the European merchants, who are
generally conceded to possess superior
methods In trading.
The third part of the movement Is to
divert to Institutions of learning In the
United States a large percentage of
these South and Central American stu
dents who annually attend the big unl
ersltles of Europe
The fourth phase of the nroiect Is to
urge the teaching of Spanish In the
public schools, colleges, and universi
ties of the country to a greater extent.
An effort will also be made to found
Pan-American ihalrs In the principal
American Institutions of learning.
REM ESTATE TRANSFERS.
Itolmesl Manor-ttilllsm II Saunders et al. trus
tees, to lura u JtcrUrtj, lot El, blodt
Kfflastuim-IIarrT A Kite et nx tn Michael and
irresa ueiuman. lots JJ and 19. sinaK JSjO,
' "" .
7. . .
rrthreat. bctfrren fie.rr.teenth nA
j-.isnieenin arrrers-llolanj VV.lI.re et na I
Samuel M. Greenbaum, lots 5!. X, and 5T. suua
C3iery Cha Fulton R llonlon et u
Little, lot 6. snusre XII 11 11)57
to Marjr E.
llock Creek l"onl Hoad-Justin JI Chamrerlin,
trustee to Rosalie A. Fcnvst and Irene E. I.
Macs"herrr. rlzhtT-Mi-ttrrds interest tn rarer! 2.
Leiirdon Street Northeait, between Siith and
Serenth Streets Kenntflr Itrr. to MeMIle V.
snd Frances E. Wllcjr, lot 141 sqnsre CO. 110.
VCO JIavai.hn.ctta Asemie Xorthe-t-r2JrMe E.
Jordan it nx. to Annie E. McQueen rar lot
1". aqrure IT. 110 Annl- E Mrtjmin roniejs
same lTolrtr to FldrHje E Jordan. SIC
aamon to ncnuwertt K. Uaker Eratl. et ns. to
iJis-ene u. ana Jlarr T Smith, lot 3. stinare
Elrtrnth and F Streets Xorthwe.t-Anhm C.
Mows et nr. to William 11 and Itarrr a
Hoses, onetlilrd lnteret in original lot 11 and
rrt oruncal lota 11. 13. and It. snusre 3a. Sis
31 and 306 JleLean Aremie Southeft-Iaac Her
man et il. to Albert Herman, lots 2j0 and 134,
siuare 545 S10
U Four and a half Street Southwest-Same to
ssroe. part lot 12. equsre 539. $10
(05 Eighth Street Southest-Same to same, lot 24.
square 411. 810.
5 Virginia Asenua Southwest Same to ssme, lot
n. square JO. 10
Columbia Heights Chsrles W King et nx. to
Frances D. lUmsar. lot 103. block . $10.
Fourteenth 8lret Southeast, tetwern C and D
Streets-Hates Warrra et nx. to John L. War
ren, half Interest in Ids I to 10. square ctuUi r-f
1C33. Slo Jchr L. VVcrren et nx to Vemon G.
Owen, ame proiertr. SW.
133 X btrret Xcrthwest-Ann M. Smith et sir.
Robert 51 to Frank J Rrrscahan. lot 12.
sqnsrr IU. SI0
S3 snd 310 McLean Aieoue Southwest Isaae Her
man et al. to Dertha Straus, lots U3 and 2r3.
square 31 V0.
Mirrland Avenue Sm.thwrt. bttwn Third and
rt-ur and-a half Streets Sarre to same, part"
orurtnsi ict y. square tjz. .o.
401 Four-and a half Street Southwest-Same to
same, lot C. siuare 4M $10.
300 and 302 McLean Arenne Southwest Albtrt Her
man et al. to Isaac Herman. 1.4s 32 and 23.
a-niarc 548. $10
Tour and a-half Street Sonthwest-Sarae to
same, mrt lot 30. sonar- ED. lie.
F Street Southwest, between Third snd Fonr and a-
najr Mreetsoamo to rame, part lot 20. sonar
1258 Eighth Street Korthwest-Albert Herman et al.
to Issae Herman, Jot 47 anl port lot 45. square
Twrntj-second Street Northwest, between M snd X
Street-Same to same, one-fourth part of orig
inal lot 3. square 30. $10.
Twelfth and C 8treets Southwest Same to ssme, all
Interest in lots to 20. nisre 325. $10.
61$ Eletenth Street Xorthwest-Thomas V Smith
snd Clarence A. ?oure. trustee, to Wilhsm IT.
and nam C Moses, lot 20. sousre 32L S10.
Twelfth and C Streets Sonthwest-R. fiolden Don
aldson and Thomaa Smith to William H. and
Harry C. Moses. lots e to 20. square Si. $10.
51 nertnUi Street Ncrthwest Thomas V. Smith
et al., trustees, to William H. and Harrr O.
Mosea. lot 2a snusre 321. $10.
1337 Eletenth Street Northwest Ella It. Lerr and
itsrtla L. Bundr. ir.. executors, to Josepa J.
McPhersoa. lot 33. square 333. $10.
122 Ninth Street Northwest William S, Schwartl et
ut to Itoland Wanacr. lot 117. square 3S4. $10.
1110 F Buret Northwest (Glorer Itoildlnfl-Jacob
31. ntttn to John r. Stnckrrt, part original lot
4. square 221, $10. John P. Stnckrrt et nx. coo
ler sane property to Henry S. Rich. SM.
MeridUn HlO-nenrr 8. Rich et nx. to Jacob It.
Stem, lot a. Hock H. Sffl.
Tenth Street Northeaat, between I snd K Streets
Mlddangh ic Shannon to Robert-and Ansa, S.
Bttrfc lot ej, squars J3J, $50.
TOTAL RESOURCES OVER $8,000,000.
as rendered by the modern trust company is ob
viously superior to that of even tire most capa
ble individual acting in such capacity.
This company Is authorized by law to
act as Executor or Trustee under Wills,
Guardian, Trustee of Mortgages, Regis
trar of Stocks, Bonds, and Notes, Trans
fer Agents, Fiscal Agent, Dividend and
Coupon Agent for Corporations, Deposi
tary under Reorganization Agreements,
We invite you to confer with us on any mat
ter of a fiduciary character. WILLS PRE
PARED WITHOUT CHARGE when this
company acts as Executor or Trustee.
United States Trust Co.
N. E. Cor. FftMnth JtE
TIM CiaaetlsMt Ava. a. as.
N. I. car. 14t a U ata. . w.
Interest Paid on
A Diversified List
of Municipal, Railroad
and Corporation Bonds
To Yield from 4 to 6
will be sent on request
A. B. Leach & Co
149 Broadway, New York
fHICAGO PHILADELPHIA COSTON
THE COUPON AND
THE COST OF IIVING.
(Oonright, 1312. br C JI Hers. New Tork.)
The other day a stranger from a small
town In New Tork State visited a bank
ing house In New York with which he
had been doing business from time to
time for the past twenty years. The oc-
raslon for his visit was the desire to go
over the list of everything he owned in
an Investment way and ee whether It
was wise to make any chances This de
sire had been stirred up by the fact that
he had found his Income from Invest
ments not sufficient to meet his expenses
this year unless he cut down on some of
the necessities of life.
As he went over the list the banker
told him about his various securities He
came to an Item of Sl.rXX). New York
Central first mortgage V it cent bonds
due in 1997. which he had bought In 1899.
The banker said, reading from his list:
'They sold yesterday at STU "
The customer glanced .it his list and
"It cost mn 113. What Is the matter
with that bond 7"
The banker found himself In for a long
explanation. He showed how In 1SD9 tha
prices of all bonds were abnormally high
because the cost of living was low and.
therefore, the $35 of annual income which
the buver got from this particular bond
would buy a great deal of the necessities
of life. At the present time, on the con
trary, the cost of living is very high and
the purchasing power of this $35 Is very
much less. Therefore, of course, the
value of the bond Is very nii'cb less be- J
cause, after all. the price of bonds or of
any other form of Income producing prop-1
erty depends In the long run upon how i
mueh fonH or olnfbtnr- thm lnt,p.t nr '
dividend will buy
The customer Hitened patiently and
finally got to understand this simple fact.
He waa very much reassured to find that
there was nothing intrinsically wrong
with hi bond but that he was suffering
from a general malady rather than from
a particular complaint He was also in
teresfd to observe that the very thing
that had brought him into New York
to consult, namely, his Inability to make
his Income meet his expenses, wa also
at the bottom of the great decline In all
low interest-bearing bondi since 1S99.
"I never realized." he said, "that after
all a bond Is only a means of getting an
Inmm. anA thus It. -i1ha it.ti.n. ...
Its power to produce bread and butter!
for my family " j
Going on from this point he discovered'
to his amazement that his biggest losses'
on paper were In all the securities that
he had deemed the best 'In his UsL The
bonds that were relatively weaker seem
ed to have held up better than anv others
The banker -explained to him that this
was due to tne ract that in most cases
these secondary bonds represented nrnn-
erty that had Improved very greatly In
credit and that therefore had tended to
advamc or at any rate not to decline:
nereaa tne no nils that represented slmi-
ly a safe Income had declined with gen
eral conditions and the rising cost of liv
He fcund. In fact, that a bond buyer
to-day can buy to jleld 5 per cent or
more the same class of securities, so far
as Interest and principal are concerned.
that would only yield from -4 to 4s pert
cent in years gone ujv In other words,
he realized that there has been a tre
mendous economic change In the world
and that the science of Investment had
adapted Itself to that change. He de
cided that in order to adjust his own In
come to this change he "vould have to
sell a lot or securities that only yielded
him abcut 3.90 to 4.10 per cent and buy 5
per cent Issues.
He also asked his banker's opinion as
to whether or not prices vr-juld recover
In the course of time. The banker was
guarded In his opinion, but he did say
tnat in nis judgment the cost of living
must tucn downward during the next
year or so and that undoubtedly If It
does bonds bought at the present time
will turn out to be cheap. He was
strong, however. In his statement that
the tendency of the times Is toward a 5
per cent Income or better and that the
best bonds to buy at the present time
are bonds to yield about that rate.
CONTAINS rib QUININE.
and H Strts n. w.
veartk aasl O alts. a. as,
tOtk St. sua) Pa. .. B.SB.
& Light Co.
First and Refunding 596 Bonds
Dae 1930 Interest Jan. and July
Secured by lien on the en
tire property of the Company.
Net earnings year ended
May 30, 1912, more than twice
all interest charges.
Price 95 and Interest, Yielding 5.40
CuaJar A It m Rifuit
49 Wall Street, New York
Philadelphia Chicago San Irandaca
Collateral Trust Note
to net 6.15
which is unconditionally guaranteed.
Investors who do not wish to tie
their funds up in long term securities
find these short term notes attractive
because of safety and liberal yield.
Write lor ctrcaldr SI.
Lawrence Barn am & Co
1421 F St., N. W., Washington
New York PhiWelphia PitUburt Beaton
to You Does
Not End When
You Go Away.
Call and let us explain how
we can assist you during your
absence from town.
If you have financial inter
ests you'll appreciate our "'in
We will supply you with
safe and convenient 'vaca
tion funds TRAVELERS'
CHECKS and LETTERS
rsNN. ave.. orr. u. s. tkcasubt.
The Safest Investments
Are tbote that do not floctotte daring U
tarbed cccdltlons of the money or stork m
kctx First deed cf tract note (flrrt mart
(tges), well secured on real esut In tha Dis
trict cf Columbia, cotutitutt "gUt-edf tn
Testmeuts. They do not depend upon to
financial retpoc.4b.lltr of iodiTiduala or cor
pora tlocs for tbeir stability, and art exempt
from taxation w personal prorertj. VT can
mpplj soea inTettmenta la amounts from 3flt
upward. Bend for booklet, Cooceralcx Latai
Swartzell, Rheem &
727 lOlh. Street Norttmest.
MONEY FOR SALARIED PEOPLE
and others upon 'thalr own names;
chsap rates, easy payments, confidential.
D. H.TOLJiAN room SIX. SSUtaStaw.
.." a.U& r &t&i3tt4&3&tj
. .- :&