Newspaper Page Text
18 U. S. STEEL LEADER ON FINAL TRADING Reaches 110 for First Time Since 1902 —Many Other Stocks Move Up. BY STI’AIIT P. WEST. Special Dispatch to The Star. NEW YORK. August 4.—Heavy realizing sales came into the market today, but did not seem to represent anything more than a shifting about of speculative accounts from one set of stocks to another. Railway shares, ■which were the favorites two weeks ago, did comparatively little in the market last week. There was more of a disposition shown today to go into these stocks while taking profits in the industrials which had been the leaders. The price movement in con sequence. was extremely irregular. "Merger Holds Attention. The possible ramifications of the Vhn Sweringen Railway System con tinued to occupy a prominent place in discussion. People who had been for tunate on the long side of Nickel Plate, Chesapeake and Ohio. Pere Marquette and the Eries were quite ready to respond to intimation that the Pittsburgh and West Virginia was likely to come into the combination and to further suggestion that Wheel ing and Lake Erie might enter into the deal, Pittsburgh and West Virginia on top of last week's rise of over 5 points ran up more than 2 points ad ditional. The Wheeling and Lake Eries became suddenly active at ad vancing prices. Western Maryland issues, which usually move with Wheeling. were sympathetically strong, although there has been no thought of the road figuring in the big Middle Western group. There was another extraordinary demonstration in General Electric and special buying in General Motors, which carried the stock to the high est at which it has recently sold. OfKer Stocks Drawn Along. Dupont and Fisher Body, as usual, were drawn along in sympathy. Some of the tobacco stocks were in de mand again, notably Schulte Retail American Tobacco and Reynolds B. The Jump in Colorado Fuel above 52 for the first time was set down as a further exhibition of pool activities noticeable ever since the stock was selling around 30, The Street is no nearer a suitable ex planation for the rise in this stock than it was 20 points lower. Commercial Solvents A and B stock broke badly on the announcement Saturday that the company's plants had been closed to allow orders for butanol, its chief product, to catch up with supplies on hand. Industrial Alcohol Strong. Buying of United States Industrial Alcohol today was accompanied by favorable earnings and dividend talk. It was said that the company had reduced its bank loans and had piled up a substantial surplus. The bal ance available for dividends in 1924 is expected to be as large, if not larger, than in 1923. when earnings e.n the common equaled $11.27 a share Dividends at the rate of s<l annually are expected to he voted either late this year or in the first quarter of next. Regardless of the fact that D. £ H. shared in the recent advance of the so-called coal roads, some quar ters hold that the stock is out of line with other rails in the same class, considering earnings and divi dends. The $9 dividend is looked upon as safe. The recent increased movement of coal has indicated larger earnings in the second half of the year. Com Preijnrti Under Pressure. Further selling came into Corn Products Refining today, carrying the stock below the 33 level and close to its low for the year. Corn Products has been one of the most notable ex ceptions to the upward movement of the past few months. Wall street feels quite sure that this situation is only temporary, and that improve ment in earnings will furnish a fresh Incentive for the stock. The sharp falling off In sugar prices in May and June restricted the sales of glucose and corn sirups, which Corn Prod ucts produces in large quantity. The violent upturn in corn also has been regarded as unfavorable. Steel Common Reaches 110. Steel Common reached 110 in the last hour for the first time since 1922. Cast Iron Pipe made a new high, and there was revival of interest in Mack Trucks, which also made a new top. The strength in the motor truck shares, increase in General Motors and in other members of the group was accompanied by talk that the increase in fanners' buying power would mean a much better second half year for the automobile business than' had been figured on two months ago. MARKET CLOSES FIRM. Sales Far Above Milion Shares at Opening of Week. By the Associated Press. NEW YORK, August 4.—Stock prices resumed their upward course today in anticipation of better busi ness this Fall. Intermittent profit taking gave the general list an irreg ular appearance at times, but excel lent buying support was forthcoming for practically all the standard rails and industrials. Sales approximated I, shares. The closing was firm. Bullish dem onstrations continued throughout the afternoon, United States Steel com mon moving up 114 to a new 1924 high at 110, Fisher Body jumping 9*6 points and Mack Truck, United States Cast Iron Pipe and several others scoring gains of 3 points or more. CORN PRICES REACH NEW HIGHJ.EVELS All Deliveries Advance. Wheat Also Stronger—Oats in Sharp Upturn. By the Associated Press. CHICAGO. August 4.—Wheat prices averaged higher today during the early dealings, despite a sinking spell soon after the opening. An upturn in Winnipeg quotations. together with a renewal of black rust reports both from north and south of the Canadian boundary, tended to stimu late wheat buying, and so, too, did an advance in the corn market. Be sides, country offerings of wheat here were only fair. Opening prices, which varied from unchanged figures to %c higher, September 1.3214 to 1.3214 and December 1.3614a1.36%, were followed by a moderate general set back and then by a rise all around to well above Saturday's finish. All deliveries of corn reached , a new hlgh-price record for the season. Adverse crop reports and smallness of rural offerings to arrive were the chief bullish factors. After opening at 1c decline to 14c advance, Decem ber 1.03 to 1.0314. the market scored sharp general gains, more than 314 c in some cases. • * Oats rose with corn and as a re sult of wet weather hindering oats x harvest. Starting unchanged to 14c off, oats soon showed a decided gen eral upturn.. Higher quotations on hogs and corn I gave a lift Jo provisions. FINANCIAL. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Open. Uiph. tow. Cloze. Adams Exp (8).. 87% 87* 87* 87* Air Reduct (4).. 80% 80% 79* 7914 Ajax Rubber.... 9 9 814 814 Allied Chem CO. . 77* 77% 76* 7714 Allied Chm pf (7). 116V* 11614 116 116 Allis-Chalm (4).. 55 55 64% 55 Am Agricul Chm. 15 15 14% 1414 Am A grl Cbem pf 39 40 3814 3814 Am Beet Sug (4) 4114 41% 41 41 Am Can Cf6> 127 12814 12614 12714 Am Car & Fy(l2). 172 172 171 171 Am Chain A (2).. 2214 2214 2214 22Vs Am Chicle 22 22 22 22 Am Drug Synd.. 414 414 414 414 Am Express (o) . 119>4 12214 119% 121 Am &F P 25%(71 110 lllliUO IH'4 Am For P f pd(7> 109 111 109 HI Am Hide & Lea. 1044 10% 10 10 Am Hide &L pi.. 61% 6144 60% 61 Am Ice (7) 92 92 91% 9144 Am Internatl.... 24*4 26 24% !tsl» Am Linseed 20V4 2014 2014 20% Am Locomo (6). 81% 811* 80 80 Am Metal (3). .. 4614 47 46* 46* Am Radiator (4) 107 109 107 109 , Am Republics. .. 40 40 40 40 AmßollM pf (7) 104% 104% 104% 10144 Am Ship & Com. 1114 12% ll* 12H Am Sm &Re (5 >. 7014 70% 69% 70 Am Stl Fdys (3). 37 37 8644 86% AmStlFpf (7). 10414 104% 10414 104* Am Sugar 4544 45% 4414 45 Am Sugar pf (7). 89% 894* 894* 89% Am Sumat Tob.. 9% 9% 9% 94* Am T 4 Tel (9) .. 1254* 125* 125% 125% Am Tobac (12).. 152* 154* 152* 154 Am Tob B (12).. 148* 160* 148* 160* Am Water Wka.. 11l 111 HI 1 11 Am Woolen (7).. 76% 76* 76 76* Am Zinc 8* 8* 814 »* Am Zinc pf 28* 29 28* 29 Anaconda 37 37 36* 364). Arm pf Del (7).. 90 90% 90 904* Arn Cons* C 0... 9% 9% 9 9 Asso Drv O (5).. 109% 114 109 114 As DG 2d pf (7). 97* 9714 97* 97* Asso Oil (1 * )... 29% 29% 29% 29% AtT&SFt (6).. 104% 105 104% 104* AT&SFpf (5). 9314 93* 931* 9344 Atl Birin L At. ~ 2* 2* 2* 2* All Coast r, (tS). 133* 133* 130% 130% At Gulf &W 1... 16% 17% 164* 17% At Gulf &W1 pf 21 21 21 21 Allan Ret (4)... 89% 8944 88* 88% Austin-Nichola... 24* 24* 24* 24* Austin-Nic (7).. 87 87 87 87 Auto Knitter.... 3 3 3 3 Bald Loco 47)... 122* 12314 122* 122* Bal&Ohlo (6)... 63% 64* 63% 63% Ba! &Oh pf (4). 61 61 60* 60* Barnsdall A 2114 21* 20* 21 Barnsdall B 15 15 144* 144* Bayuk Cigar 44* 44* 44* 44* B’cn Nut (2.40).. 63* 53* 63* 53* Beth Steel 44% 44% 44 44% Beth Stl pf (7) ... 91* 91* 91* 91* Booth Fisheries.. 5* 5* 5* 6* Bril Emp Steel.. 6 6 6 6 Br k Edison ( » i.. 11514 116% 115* 115% Brk-ManTran.. 27 27 26% 26 BrManTpf(S). 70 70 69% 69% BrklynUnG(4) 69% 6914 69% 69% Brown Shoe (4).. 46* 46* 46* 46* Burns Br (10). .. 108 108 108 108 Butte C & Zinc.. 5% 5% 6* 5* Butte&Superlor 17% 174* 17% 17% Butterick Co 184* 18% 18V* 18% Cal Packing (6).. 85* 85* 85% 85% Cal Pet (1 %). .. 231* io% 23 23 Calu & Ariz (2) . . 51* 52% 51* 52% Calumet & H 50c. 18% 18% 18% 18% Can Pacific (10). 148 148 147% 148 Case JI Plow 1% 1* 1% 1* Cent Leather Co.. 14* 14* 14% 14% Cent Lea Co pf... 48 48 48 48 C RR, N J (tl2) . 230 230 228 228 CenlUbM (2) 28* 28* 28* 28* Cerro de Pasco(4) 46% 46% 46 46% Cnand Mot (6).. 60* 51* 50* £O% dies & Ohio (4).. 91* 92% 91* 91* Chicago & Alton.. 5* 6% 6* 5% Chic & Alton pf.. 12% 12* 12% 12* Chic & East H1... 29% 29% 29% 29% Ch & East 111 pf.. 46* 46* 46* 46% Chic Gt West.... 6* 6* 6% 6% Chic Gt West pf.. 17% 17* 17 17 Ch Mil &St Paul. 16* 16V, 16 16 Ch MU & St. P pf. 26 26 25* 25* Chi & Nwn (4)... 63 63% 63 634* Ch Pneu T (5)... 86% 86% 86% 86V* Chic R1 & Pac... 35* 35% 34% 54% CRI&Ppf («).. 78% 78% 78 78* CRI&Ppf (7).. 90 90 89* 89* ChStPMin&O.. 43* 43* 43* 43* Chile Cop (2*).. Sl* 31* 31* 31% Chino Copper.... 22% 22% 21* 21* Clu. Peabpf (7). 102* 102* 102* 102* Coca-Cola (7).... 74* 74% 74* 74% Colo Fuel & Iron. 50% 63% 50* 53 Colo Southern.... 35 35 35 35 CoIG&E (2.6 J).. 41 41 40% 41 Col Carbon (4).. 45* 45* 45% 45% Com In Trpf (7). 100 100 100 100 Com Solv A (4).. 67 57 51% 65% ComSolvß 47 50 44 50 Congoleum (3)... 49% 49% 48* 48* Consol Cigar 20 20 20 20 Con Cigars pf (7) . 77 77 77 77 Consol Gas (5)... 71% 71% 71 71% Consol Textile... 5% 6% 5% 5% Cent Can (4).... 57 57 66% 56% Cont Motors (20c) 6* 6* 6* 6* Corn Product*... 33% 83% 32% 32* CosUenCo 29% 29% 28% 28% Crucible Stl (4).. 66 66 65* 55* Cub Am Sug (3).. 31% 31% 31 31* Cub Cane Su pf. e' 63% 63% 63 63 Cuyamel Fr (4).. 57 57% 66* 57 Dan! Boone M (3) 13% 13* 13% 13% Davidson Chetn.. 58% 60% 58% 59% De Beers Mines.. 19* 19* 19* 19* Dei&Hud (9)... 122% 122* 122% 122% DeILA W (6)... 130 130 129 129 Dec El Co (8) .. . 108* 108% 108% 108% Dome Mines (2).. 15* 15* 15% 15% Doug-Fectin (1). 11* 11* 11* 11* DuPtds N (8)... 130% 132* 129* 132 DuPdeNdbtC). 89% 90 89% 90 Eastman (t6*). 109 109 108% 108% El Stor Bat (4).. 68% 69% 67* 57* Emer Branting... 3 3 3 3 End-John pf(<).. 108 108 108 108 Erie... 35% 36% 34 34% Erie let pf 42% 42% 41* 41% Exch Buffet (2).. 23% 23% 22 22 Fairbanks (2.60).. 27 28* 27 28 Famous PI (8).., 87 87* 86% 86* Famous PI pf (8). 97* 97* 97* 97* Fed Lt & Trac.... 76 76 76 76 FdMASpf (71.. 47* 47% 47% 47% Fid Phe Fln (6) . 137 137% 136 136 Fisher Bdy (10).. 188 199* 188 197 Fisk Rubber 8% 8% 8* 8% Flelschman (3*). 64 65% 63% ,65% Foundation (6).. 73% 74* 73* 74* Freepon-Texas.. 9* 9* 9% 8% Gen Am TC (3).. 41 42% 41 42% Gen Asphalt 44% 45% 43% 43% GenAsphpf (5). 78* 79 78* 79 Gen Baking (6).. 109* 109* 109* 109* Gen Cigar (8)... 89% 89% 89V* 89% General Elec (8).. 271 281 271 277 Gen El spe (60c). 11% 11% 11* 11* Gen Mot (1.20)... 14% 15* 14% 15 Gen Mot db (6).. 86% 86% 86% 86% Gen Mot pf n(7). 96% 96% 96% 96% Gen Petrri (2) 44% 45 44% 44% Glmbelßryf (7). 102 102 102 102 GUddenCo 10* 10* 10* 10* Goldywn P10t... • 14% 14% 14% 14% Goodrich 24* 24* 24 24* Goodyear pf 85* 66* 56% 65% Consol...' 17* 17% 17% 17% Qt North pf (6).. 67 67* 66* 66* Gr Nor Ore (3)... 81* 81* 81* 31% Grt Wstn Su (8) . 90 90 90 90 Gr Canan C0p.... 16 16 16 16 GuTTMo & Nor... 20 20* 20 20% Gulf St Stl (5).., 76* 76% 74* 75% Hartman Co (4>.. 37* 37* 35* 35% Hayes Wh'l (3).. 36% 35% 84% 84% Uoueeh'd Pr (3). • 85 35* 35 35* Houston Oil 72% 72% 71 71 Hud MotC (3)... 27% £7% 27* 27* Hupp Mot C.(D-. 13* 13* 13% 13* Hydraulic Stl pf.. 6 6 5 6 Illinois Cent (7).. 110% 111 110 111 111 Cent pf (6)... 110* 111% 110* 111% Indep 011(1) 7% 8* 7%. 8 Inland Stl (2*).. 35* 85* 85% 35* Inland Stl pf (7). 108 103 103 103 Inspiration Cop.. 27* 27* 26% 26* Interb Rap Tr... 82 32* 32 32* Internal A grt -.. • 1111 IntßusMa (8)... 97* 97* 97* 97* Int Com Eng (2). 26* 26* 26 26 Internal Har(s). 95 95% 95 95% Int Mer Marine... 10% 10% 10* 10* Int Mer Mar pf... 38% 89% 37* 88% Internal Nickel.. 19% 19% 19 18* Internal Paper... 55% 66% 65% 66* Int Rys of C A... • 14 14 13% 14 Int TAX (6) 76 76% 76 76 Invincible Oil 13 13 12* 18 Jordan Mot (3)... 30% 31 30% 31 Kan City South.. 22 22* 21% 21% Kan CSo pf (4).. 65 65 65 55 Kayser Jul & Co.. 22% 23 22% 22% KeHy «i>r Tire-.. 16* ■l6 15* 16 Kelly Springfd pf. 46 . 46 46 46 THE 'EVENING STAR. WASHINGTON, D. C.. MONDAY. AUGUST 4, 1934. ' Open. High. Low. Close. Kelsey Wh'l (6) .. 93 93 93 93 Kenne Cop (.*)... 47* 47* 46% 46% Keystone T * R.. 2* 2% 2* 2% Kinney G R Co. .. 72* 76* 72* 76 KresgeSS (8)... 895 395 395 895 Kresge Dept Stor. 56% 66% 66* 55* Leh Val (3*).,.. 51% 51% 50* 50% Lig & Myrs (3).. 50% 59* 59* 69* Llg&Mvrsß(3> 59* 59% 69% 59% Lima Loco (4).., 63 63 62* 63 Loews Inc (2) 16* 16* 16* 16* Loose-Wiles Bis. . 61% 64 61% 63* L'se-W Ist pf (7) 105 105 105 105 LorrlUard (3) 87% 37% 87% 87% Louis* N’ah (6). 97 67 97 67 McCroryß(sl,6o). 99 99 99 99 Mclntyre (750.. 15* 15* 15* 15* Macs Trucks (6). 91* 94% 91% 94% MacyßK&Co... 64 64 64 64 Magma Copper... 86 36 34* 34* Malllnson & C 0... 25* 25* 25 25 Manatl Sug (5)... 68 68 68 68 Man El modgtd 4. 46% 46% 46% 46% Manhat Shirt (3) 86 85 84% 84% Manil El Co (S) .. 95 95% 94% 95% Maracaibo 0i1... 31* 31* 30* 30* Market St Ry,... J 9% 9% 9 9 Marland Oil S3* 33% 83 33 Martin Parry (3) 84 34 33 33 Mathioson Alkali 42 42% 4054 40% Maxwell Mot A.. 63 53% 52 53% Maxwell Mot 8... 12* 12* 12* 12% May Dpt St (5). .. 91% 92% 91% 92% Mex Scaboard(2). 21% 21* 21* 21* MexSeabd ctfs(2) 21% 21% 21% 21% Miami Cop (2) ... 24 24 23* 23* Middle St Oil 1% 1% I* 1* Midl'd Prod pf(8) 80 80 80 80 Mis Kan & Tex... 14* 14* 14* 14* MisKAcTexpf... 43% 43% 43% 43% Missouri Pacific.. 19% 19% 18% 18% Missouri Pac pf.. 49% 49% 48% 49* Mont Power (4). 68 6H% 68 68% Montgom Ward.. 34% 84% 83% 83% V-.on Mot (3) 121% 22% 21% 22% Mother Lode 75c. 8* 8% 8 8 Mullins Body 16* 16* 16* 16* Munsingw'r (3).. 34 84 84 84 Nash Mot 08*). 110 110 110 110 Nat Biscuit (3).. 61* 61* 61% 61% Nat Bispf (7). .. 125 125 125 125 Nat Cloak & Suit. 56* 56* 56 56 Nat Dairy (3).... 36% 37* 36 37* Nat Dept Stores.. 38% 38% 88% 88% Vat Fn Sr St 24V* 24% 24% 24% Nat E&S pf (7) . 76 76 76 76 Nat l>eart (») |49 149 146 146% Nat Lead pf (7) .. 116% 116% 11G% 116% Nat Supply (3).. 69 59 58 68 NevConsCon 14 14 14 14 NewO.TA M t23* 108 108 105% 105% Nwpt N Gas (5) . 57 57 56* 66* N Y Air Hr (4)... 43% 43% 43% 43% V Y Central (7>.. 107 107 106* 106* N Y Canners (2) . 28% 29 28% 29 NTC*StL(B). 109 109 108* 108% NrC&StLpf (6). 90* 90* 90* 90* NT Dock 32% 32* 82 32 N Y Dock pt (5) . 49% 49% 49% 49% NYNH&Hart... 28 28 27* 27* N Y Ont & West.. 21% 21% 21 21 Niagara Fps (7). 28* 28* 28* 28* Norfolk South. .. 19 19 19 19 Norf & W (tB% .. 122% 123 122% 122% North An.er (2>.. 26% 26% 26% 26% North Am pf (I). 50 50 49% 49* North Pac (6).. . 66 66 65% 65% Ohio Body .. 1% 1% 1% 1% Onyx Hospf(7). 82 82 82 82 Orpbeum (1 *)... 2l 21 20* 20* Otis Elev (n) (4).. 65 66 65 65 Otis Steel 8 8 8 8 Owens Bot (3)... 44% 44% 44% 44% Pacific Develp... 11 % % Pace, & K (8).... 94% 94% 94% 94% Pacific Mail 10 10 fio 10 Pacific Oil (2) 50 50% 49% 49% Packard (1.20).. 11% 12 11% 12 Pan A mer (4).. • • 67* 57% 56% 56% Pan Amer B (4».. 56% 66% 65% 55% Parish & B stpd.. 1111 Penn Rallr'd (3). 45% 45% 45* 45* Penn Seab Steel.. 2* 2* 2 2* PeopGasCh (7). 102% 102% 102 102 Peoria & East.... 16 16 16 16 PereMarq (4)... 64 64% 61* 61% Pere Mar pf (5) . . 75% 76* 76* 76 PereM prpf (5). 85* 85* 85* 85* Phila Co (4) 51* 51* 50% 58* Phila &R& I. ... 51 51 49% 60 Phillips Pet (2)... 37% 87% 36% 36* Pierce-Arrow.... 11% 11* 11% 11* Pierce-Arrow pf.. 33% 85* 33% 36* Pierce Oil 2 2* 2 2* Pierce Oil pf 29 29 29 29 Pitts foal (4)... 58 58% 58 58% Pitts Ut pf $1.20. 13* 13% 13* 18% Pitts & WcSi v a ,. 60% 62% 59% 60% P & W Va pf (6). 98 98 88 98 Postum Cer (4).. 54% 65% 64% 65* Press Stl C (4) .., 43* 44 43* 43% Press SC pf (7) . . 76* 76* 76% 76% Prod & Refiners.. 32* 32% 31* 31* Pub Ser N J (4).. 68 68 67* 57* Public Serv rts... 16% 16% 16% 16% PubSNJpf (8). 107% 107% 107% 107% Pullman Co (8).. 127 127* 125* 125* Punta AI Su (5).. 52* 62* 51* 61* Pure Oil (I*)..- 24% 24* 24* 24* RSlllCcfs (4).. 67* 67* 67* 67* Ry StlSpg (8).., 119 119*119 119 Ray Cons C0p.... 13 13* 13 13* Reading (4) 6174 62% 61% 62% Reading rt* 23* 23* 22% 23 Read Ist pf (Cl.. 36 36 86 36 Read 2d pf (2)... 36% 86% 86 36 Remington Type. 42* 42* 42* 42* Replogle Steel... 12% 13 12* 12* Rep lr& Steel... 49% 49% 48% 49% Rep I* Spf (7)., 87 87 87 87 Reynolds Sp (1). IS* 18* 17* 18 Rey Tob B (3). .. 74% 75 74* 74% Rossia Ins A (6). 94% 94% 94% 94% Roy D'tch (3.46).. 42* 43% 42% 43 St Joseph Ld (2). 29 29 29 29 SVLSan Fran... 25V* 25* 24* 24* St L-San Fr pf.sl 62 60% 61% St L Southwest.. 42* 42% 42% 42% Savage Arms.... 62* 62* 62* 62% Schulte (8)...... 128% 129 128 128 Seaboard Air L.'. 15* 15* 15* 15% Stab'd Air Lpf. .. 31 31 30* SO* Sears-Roeb’k (6). 105 105* 108% 103% Seneca Copper... 2222 Shattuck-Ari*..... 7* 7* 7* 7% She-ll Un Oil (1).. 17* 17* 17 17 Shell Un pf (6).. 94* 95* 94* 95* Simmons Co (I). 26 26 25* 26 Simms Pet 14% 14* 14 14 Sinclair Oil 17* 17% 17* 17% Sinclair OH pf (8). 83* 83* 88* S3* Skelly Oil 20* 20* 20% 20% S'.oas-Sheff (6)... 67 67% 66% 66% South Pac (6). ... 95 95* 94% 95 Southern Ry (5).. 64* 64* 63% 64* South Ry pf (6).. 75% 75% 76% 76% Spicer Mfg 12* 12* 12* 12* Std Gas &El (I). 86* 86* 86 86 St Oil Cal (3).... 60 61 69 59 Bt Oil N J (1).... 86% 86% 86 86* Std Plate Gl(7sc) 32* 32* 82 82 Stewart-War (6) 64* 55* 64 54 Stromberg C (8). 63% 63% 63% 63% SDidebaker (4).. 88% 88* 88% 88* Submarine Boat.. 9% 9% 9* 9% Superior 01L..... 8 8* 7* 7* TennC&Ch 8% 8% 8% 8% Texas Co (I).. 41 41* 41 41 Tex Gulf (t«*>- 73* 73* 73 73 Texas* Pacific... 31* 82 81* 31* Tex&PacC&O. 10% 10% 10* 10* Third Avenue.... 13* 13* 18* 13* Tide Wat Oil (4) 127* 127* 127 127 Timken (t3*>-. 84* 34% 84* 34* Tob Prod (6).... 63% 64% 63* 64% Tob Prod A (7). .. 91 91 91 91 TranscontOll—. 5* 5% 6* 6* Tran sue & W (3) 33 33 83 S 3 Un Bag Pa (6) ... 60 50 60 60 Un Pacific (10)... 142% 142% 141% 141% Un Pac pf (4) 75* 76% 75* 76% Un Tank Car (5). 120 121* 120 121% Utd Cigar Stores. 53 63 52* 62* Utd Fruit 00)... 220* 224 219* 223% Utd By Invest.... 20 20 18* 19 Utd Ry Invest pf. 49* 49* 48% 48% U S Cast Iron P.. 99* 104 99% 103 U S Distributing. 28* 29% 28* 29* U S Dlstrib pf (7) 114* 114* 114* 114* U S Hoff Mach... 28* 23* 23 23 U 8 Ind Alcohol.. 73% 75 73% 74* USlnd Alps (7). 103% 103% 103* 103* USR& Xm (8)... 97* 97* 97* 97* US R4l pf (7).. 102% 102% 102% 102* US Rubber 32* 32* 81* 31* USR Ist pf (*)... 86 86 86% 86% US Smelting 31* 81* 81 81 US Steel (t<) 108% 110 108% 109% US Steel pf (7).. 121* 121* 121* 121* U S Tobacco (3). 54 64 54 64 Utah Copper (4).. 79% 80 79* 80 Utah Securities.. 27% 29* 27% 29 Vanadium Corp.. 25* 26* 24* 25* Va-Caro Chem... 2 2 2 2 Va Iron Coal &C. 37* 87* 37* 37* Vaßy& Power.. 68% 63% 63% 63% Vivadou 6 6 6* 5* VulcDetpf (7).. 63 63 63 63 Wabash 16*-15% 16 li Wabash pf A... L 43* 43* 48* 43* TRADING IS HEAVY IN LIBERTY BONDS French Issues Again Leaders in Foreign Group—Loan to Germany Seen. nv GEORGE T. HUGHES. Special Dispatch to The SUr. NEW YORK. August 4.—Bonds opened the week active and strong. New. buying orders for government securities carried quotations for ail the active Liberties up within hailing distance of the high points of the year. Some traders professed a be lief that banks which had accumu lated the bonds at much lower prices were now selling Liberties and buying Treasury certificates, but if that was the case there was no sign of it In the market. Similarly some bankers expressed the opinion that slightly higher rates for money were in prospect for the next few months, but quotations to day did not support this view. On the contrary, rates for 60-day funds eased up to 2 per cent bid and offered. Liberty Trading Henry. Trading in Liberties was unusually heavy during the first half of the day. There was also uncommon activity in U. S. Steel Sinking Fund ss, only a quarter point below their record high for all time. French bonds were again (he leaders in the foreign group, and records for 1924 were established by both the French S« and the 7*s. French Cities 6s, the Bordeaux, Lyons and Marseilles bonds, as well as the Department of Seine 7s, also made new tops for the year Os the mid-European bonds City of Greater Prague 7%s were most in favor, selling above 90 for the first lime this year. Another bond to make a rec ord 1924 high wa« United Kingdom 5%s of 1937. The extreme price for this bond in 1922 was 106. German Loan Appears Nearer. AI! this strength in foreign bonds was very encouraging to the bankers who expect to be called upon to float a Ger man loan. The expectation today was that the German bonds when offered will carry a 7 per cent coupon and be sold at a discount The price will have to be made attractive to conform to the rest of the foreign bond market. In domestic railroad issues the fea ture was C. & O. convertible 5s above 103, a new record, in sympathy with the stock. As the rule, however, speculative railroad bonds did not keep pace with the stocks. Day* New Financing. New- financing was in fairly large volume today. Among th e more im portant offerings were $15,000,000 Commonwealth Edison 5s of 1951 at 98>s and $10,000,000 Canadian Pacific 4 per cent perpetual consolidated stock at SI to yield about 4.94 per cent The last named corresponds to a first mortgage bond in United States usage. RECORD PEAR CROP IS NOW PREDICTED The country's pear crop is estimated by the Department of Agriculture at 15.427.000 bushels. This is more than was harvested in any previous year, with the exception of 20.705.000 bushels in 1922. Last year's crop was 17.390.000 bushels. In general, pears, like peaches, are a good crop in the East and South, fair to light in the North Central Slates, and light in the West. New York expects 2.185,000 bushels, which is more than*twice as many as were harvested last year, but only two thirds of the quantity picked in 1922. MORE GRAIN RECEIVED. BALTIMORE, August 4 (Special).— 1 Receipts of corn and oats at Balti more during July increased, com pared with the same month last year, while figures covering wheat, flour and rye, on the other hand, showed decreases, according to a summary prepared by the grain exchange. SHORT-TERM SECURITIES. (Quotation* furni»h?d by Kedmoad & Co.) Noon. % Rid. Offer. Aluminum Co. of Amor 7* IW'. 10ft 10ft>4 Aluminum ~ of Amor. 7s 10ft3. lOTVi 107% American Sugar 6* Iftft? 100 American TH. A* Tol. 0* 10‘Jft.. 114 \ 117 Anaconda ropprr Cm 10*J9 Rtf'i. 10ft\ Anglo-American Oil 7*- a g . . 102% 10*2% Associated Oil Iflftft 101 101% B*ll Tel. of ( anada .*»a 1925 99% 90U Canadian Northern r»u,h 10*24. too,*, lf*Mg Central of George Hs 19*29.... IdCl 1 * Rift** Central leather 5* 1925 !»0% 90% Chi , Mil A St T’anl 0* 1034. 100 100»* Chi.. U. I Sc Ra. itlr 19*2f1. lot lot % Columbia *r«s A KI. Ist 5* 19*27. RiOV* l»u Pont 7 19ft1... 108% Federal Sugar Kef. Os 1933.... 100 lf*oV* Flaher Rody Corp. Cm 1927 102% 102% Fiaher Rody Corp 0s 10*28 101% ItfJVi Goodyear T. A- K. 8% 1031 IW% 104 (Jreat Northern 7* 1930 no Gulf Oil Corp. of Pa. s*£s 1928. 101 » 4 101% I 'uliable Oil ft*** 1032 99 90% Kennecott Copper 7s 1930 100 108Vj M . St. P. A S. 8. M. Morri* A- Co. New York Central Ks 1935 108% 109% Oregon Short Line 4» 1920 97% 97% Penna. 11. K. 7r 1930 109* 100% Pure Oil r.*s 1925 100* 101% Swift & Co. 5s 1982 93 % 94% Tidewater Oil 6*s 1931 103% 104% I’nion Tank Car 7a 1930 104 104% U. S. Rubber 7*s 1930 103% 103% Western Union 6%s 1938 11l 111% Westinghonse E. & M 7s 1931. 108% 108% Wheeling Steel 6s 1926 100% 101% FOREIGN" EXCHANGE. (Quotations furnished by W. K. Uibbs A Co ) Nominal Selling checks gold value. today. London, pound 4.8885 4.44% Paris, franc 193 .0531 Brussels, franc .19.3 .0476 Berlin, mark 238 23 90 tril’n Rome. lira 193 .(5438 Zurich, franc 193 .1809 Athens, drachma 193 .0173 Madrid, peseta 19.3 .1.345 Vienna, crown 2if_’(l .000014% Budapest, crown 2028 .00013 Prague, crown ........ ,2026 .0297 Warsaw, mark 238 .00001930 Copenhagen, crown 288 .1815 Christiania, crown 2(18 .1354 Stockholm, crown 268 .2666 By the Associated Press. NEW YORK, August 4.—Foreign exchanges firm. Quotations (In United States dollars) —Great Britain, de mand, 4.45%; cables, 4.45%; 60-day bills on banks, 4.42%. France, de mand, .0534%; cables, .0555*. Italy, demand, .0438%; cables, .0438%. Bel gium, demand, .0476; cables, .0477. Germany, demand per trillion, .23%. Holland, demand, .3854. Norway, de mand, .1377. Sweden, demand, .2664. Denmark, demand, .1623. Switzer land, demand, .1872. Spain, demand, .1346. Greece, demand, .0173. Poland, demand, .0019%. Czechoslovakia, de mand, .0297. Jugoslavia, demand, .0121. Austria, demand, .000014%. Rumania, demand, .0044%. Argentina, demand, .3337. Brazil, demand, .0985. Tokyo, demand, .41%. Montreal, .99%. Wald Sys (1 %) .. 15* 15% 15* 16* WebAHellb (1). 16% 15% 16% 16% West Pen (4).... 89 89 88 88 West Penn pf (7). 92 92 92 92 West Maryland.. 18% 13* 12% 12% West Mary 2d pf. 20% 21* 20* 21 Western Pacific.. 22% 22* 21* 22 West Un Tel (7). Ill* 111* 111* 111* West E& M (4)., 64% 64* 64* 64% WElstpf (4)... 80* 80* 80* 80* Wheel ft L Erie.. 13* 14* 18* 14* Wheel &L Er pf. . 24 25 23 24% Wh EagOll ($).. 24* 24* 24* 24* White Mot (4)... 66* 68* 56* 68* Wickwlre Sp SU.. 1* i* i* i* Wilson & C 0..... 9 9* 9 9* Willy s-Overland. 8* 8% 8* 8* WlUye-Over pf ... 70 70* 69* 69% Woolworthn (3).. 113* 114* 113* 114 Wright Aero (1).. 12% 12% 12* 12* WrtgWJr (»)... 40% 40% 40* 40* Yellow Cab (6).,. 64 54 53* 53* Youngat SAT (6). 69* 70 69% 69% fPartly extra. {Payable la preferred Block. Dividend ratea as given In the a bore table are the annual caab payment, baaed on tba Uteat quarterly or half-yearly declaration,. Unless otherwise noted, extra or special dividends are sot included. ON NEW YORK BONDS STOCK EXCHANGE I Rtcaivad by Private Wire Direct to The Star Office. (Bale* are In $1,000.) UNITED STATES BONDS. (Fractions represent thirty - secondu. Example: 98-3 means 98 3-32.) Sales. Hl*h. Low. Cloae. Lib 3%a 61 101-lielOl- 9 101-13 Lib Ist 4U5... 146 102-17 102-12 102-17 Lib 2d 414 s 735 101-30 101-26 101-20 Lib 3d 4 *4b. . . 421 102-20 102-19 102-20 Lib 4th 4 14s. . 1073 102-22 102-20 102-20 U S 4Vis 1952.. 126 105-22 105-20 105-21 FOREIGN. Sales. High. Lew. Cioee. Argentine 6a 1 81% 81% Argentine 65'37.. .112 94 93V* 93V* Argentine 7s 4 u>2% 102 H 102 H Austria 7s 90 94% 94H 94% Belgium 6s 3 JOOH 10044 100V* Belgium 7% s 49 108% 107 H 107% Belgium 8s 26 107% 107% 107 V* Bolivia 8s 9354 93 93 Canada 5s 1926 5 101% 101% 101% Bordeauxes 72 87 86% 86% Brazil 7s g 34 g 4 34 Brazil 7%a g 100% 100% 100% Brazil 8s 90% gg 96% Canada 5s 1931.... 1 ioi% lOIVI 101% Canada 5s 1962... 7 103 102% 102V* Canada 5%s 1929, . 6 103% 103% 103% Chile 7s 1943 6 98% 98% 98% Chile 8s 1926 21 103% 103% 103% CO e*« 1941 17 109% 108% 109% Chile 8s 1946 9 10 6% 106% 103% Christiania 8s 3no 110 110 Copenhagen 5%a. . 19 94% 94% 94% Cuba 5%s 84 97 96% 97 Czecho 8s 1961 10 95% 98% 98% Czecho 8s 1952 ct 47 98 97% 98 Denmark 6s 46 99% 99 99% Denmark Ss 8 110% 110 110% Dutch E I 5%5. .. .. 3 90% 89% 90% DKIS %s ct 22 90 89% 90 Dutch Kast I6s 47 64 96 95% 96 Dutch East I6s '62 123 96% 95% 95% El Salvador 8s '4B, . 3 102 101% 101% Finland sf 6s 1945. 6 87% 87% 87% Framerlcan 7%5. . 37 94% 94 94% French Govt 7%5. .205 101% 101% 101% French Govt Bs.. . .203 104% 104% 104% Holland-Amer 65.. I 77% 77% 77% Hungary 6%s 8 87% 87% 87% Japanese 4s 2 80 79% 79% Japanese Ist Japanese 6%s 239 92% 62 92% Jergens U M 65'47. 37 80% 80% 80% Lyons6s 43 87 86% 86% .Marseille 6s 24 86% 86% 86% Mexico 4s'lo asntd. 2 21 20% 20% Montevideo 75.... I 91 91 91 Netherlands 65'54. 68 99 98% 99 Netherlands 6 5 '72. 10 98% 98 98% Norway 6s 1943 73 98 97% 97% Norway 6s 1952.... 30 98 97% 68 Norway 8s 4 112 112 112 Orient Dev de> 65.. 10 85% 65% 65% Paris-Ly's-Med 6s. 156 80% 80% 80% Prague 7%s 61 90% 90 90% Queensland 6s. .. . 14 102% 102 102 Queensland Ts 1 109 109 109 Ulo dc Jan 8s 1946. 12 95% 95% 95% Rio de Jan 8s 1947. 20 94% 94 94 Rio Or Do Sul Bs.. 6 96% 96% 96% Sao Paulo State Bs. 15 100 99% 100 Seine Dept, of 7s. .. 84 92% 92 92% Serbs Crotes Slo 8s 35 85% 85 85% Soissons 6s 6 85% 85 85 Sweden 6s 4 JO4 104 104 Swiss 5%s 1946 185 96% 96% 96% Swiss Confed 85... 22 114% 114 114 Tokio 5s 5 63 63 62 Ud Kingrn 5%5'29.137 110 110 110 Cd Klngm 5%s '37. 50 105 104% 104% L’d Steam Copen 6s 1 91% 91% 91% Zurich Ss 3 109% 109% 109% MISCELLANEOUS. Ajax Rubber 85... 7 67% 88 88 Am Agr Chem 7%s 23 92% 92 92% Am Chain sf 6s '33. 1 94% 94% 94% A m Repub deb 6s, . 44 92% 92% 92% Am Smlt&R Ist ss. 13 94% 94% 94% Am Smlt & R 65... 3 105% 105% 105% AmSugref6s 24 101% 101 101 Am T&Tcl tr 45.. 13 97% 97% 97H Am T&T cl tr ss. .. 7 102 102 102 Am T & T deb 5%5. 30 102% 102% 102% AmT&Tcv 6s 5 118 118 118 Am Water Wks ss. 11 93 92% 92% Am Writ Paper 6s. 1 51 51 51 Anaconda Ist 65... 59 97% 97% 97% Anaconda cv db 7s. 29 100 99% 99% Armour ACo 4%5. 20 86% 86% 66% Armour of Del 5%s 28 92 91% 92 Associated Oil 6s. . 33 101% 101 101 j Atlantic Retin 55.. 1 99 99 99 Harnsdall sf Ss 14 101% 101 101% Bell Tel Pa 5s 3 100% 100% 100% Beth Steel pm ss. .. 7 68 87% t 8 Beth Steel rs 5s 3 96% 96V* 96V* Beth Steel 5%5'63. 6 89 68% 68% Beth Steel s f 65... 63 96% 96 96 Brier HSt Ist 5%5. 5 97 96% 97 Bklvn Edison 7s 1). 1 109% 109V* 109V* Bush T Bldg ss'6o. 3 96% 96% 96% Calif Pete 6%s 8 100 99% 99% Central Leather 5s 3 99% 99% 99% Chile Copper 6s 13 105 104% 105 Col Gas &El 5s sta 7 100% 100 100 Commonwth P 65.. 11 95% 94% 95% Con Coal Md Ist ss. 3 66% 68% 66% Consumers Pow ss. 18 90% 90% 90% Cuba Cane cv 7s'3o 2 96% 66% 96% Cuba Cane cv d Bs. 19 100% 100% 100% Det Edison ref 6s. . 2 106 106 106 Du Pont de N 7%5. 3 108% 108% 108% Duquesne Light 6s 6 105% 105% 105% Est CubaSug 7%5. 2 106% 106% 106% Empire G&F 7%5.. 30 94% 94 94 Fisk Rubber 8s 7 102% 102% 102% Gen Elec deb ss. . . 1 103% 103% 103% Goodrich 6%s 15 97% 97% 97% Goodyear 8s 1931. . 7 104% 104% 104% Hershey 6s 1942... 3 103% 103% 103% Humble O&R 5%5. 10 99% 99% 99% Illinois Bell Ist ss. 20 98% 98 96V* Illinois Steel 4%5.. 7 94% 94 94% Indiana Steel 55... 4 101% 101% 101% Int Mcr Marine 6s. 29 87% 87% 87% Inter Paper 5s 47.. 7 87% 87 87 KCP&Lt 5s A '52 2 93% 93% 93% Kan G&EI 6s '52.. 1 98% 98% 98% Keyser (J) 7s 3 102 101% 101% Kelly-Spring 85... 17 96% 96% 96% Lackawa Sss '50.. 8 91% 91% 91% Liggett & Myrs ss. 4 98% 98% 98% Lorillard (P) 55... 10 97% 97% 97% Lorlllard (P) 75... 2 116% 116% 116% Magma Cop cv 75.. 50 117% 116% 116% Manatl Sug sf 7%5. 1 99% 99% 99% Marl and Oil 7 %s. .. 2 102% 102% 102% Midvale Steel 55... 10 89 88% 89 Montana Power ss. 6 98 97% 97% Mor’s&Co Ist 4%5. 2 80% 80 80 New Eng Tel 5s 1 100% 100% 100% N Y Eden Ist 6%5.. 7 112% 112% 112% NYG ELH&PSS. .. 2 101% 101% 101% N Y Tel 4%s 6 96% 96% 96% NY Tel 6s'4l 1 106% 106% 106% NY Tel 65'49 16 108 108 108 North Am Ed 65.. - 18 98 96% 98 North Am Ed 6%5. 13 102% 102% 102% Nor Ohio T&L 6s. . 2 90% 90% 90% Nor States Pow 6s. 14 94 93% 94 Nor States Pow 6s. 4 103% 103 103 Northwst B Tel 7s. 8 109 108% 108% Otis Steel 8s 1 96 96 96 Pacific Gas &El ss. 4 94% 94% 94% Pacific T&T Bs '52 4 98% 93% 93% Pan-Amer Pete 7s. 1 104 104 104 People's Gas ss. .. . 1 94% 94% 94% Phil & RdgC&l Bs. 1 99% 99% 99% Pierce-Arrow 85... 67 84% 83% 84% Pierce Oil deb 85... 10 102 102 102 Public Service 55.. 1 103 103 108 Pub StrvElec6s.. 2 101% 101 101% Punta Alegre 75.. . 25 108% 103% 108% Sharon StlH 85.... 7 101% 101% 101% Sinclair Oil 6 %s. . . 3 84% 84% 84% Sinclair Oil 7s 12 91% 91% 91% Sin Crude Oil 5%5. 6 100 99% 100 Sin Crude Oil 65... 4 100 100 100 Sin Pipe Line 55.. . 2 84% 84 84 Southwest Bell ss. 69 96% 96% 96% Tenn Elec Pow 65.. 14 97% 07% 97% Tide Wat Oil 6%5.. 1 104% 104% 104% Toledo Edn Ist 75.. 2 108% 108% 108% U S Rub Ist rs 55... 8 64 84 84 U S Rubber 7%5... 1 104 103% 104 USStetlsfßs .380 104% 104% 104% Utah Pow &Lt Bs.. 2 92% 92% 92% Va-Caf Chem 7s. .. 25 63% 63 63% Va-Car Ch 7%s s w 1 33% 33% 33% Warner Sug 75'39. 1 92% 92% 02% Warner Sug 7s'4l, 6 102 102 102 Western Elec 55... 13 98% 98% 98% West'n Union 6%5. I 111% 111% 111% Westinghouse 75.. 1 108% log% 108% WUlya-Ov 6%s 'BB. 8 98 97% 98 Wilson &Co Ist 6s. 21 89% 89 89% Wilson &Co cv 6a. 7 67 67 67 Wilson&C cv 7%a.. 7 63 62 62 Youngatn S& T 6a. 11 96% 96% 96% FISHEE’S PRICE INDEX. NEW HAVEN, Conn., August 4 (Special).—Last week's prices aver aged 148.7 per cent of pre-war level. The purchasing power of the dollar was 67.2 pre-war cents: average for July, 145.2 per cent and <8.9 pre-war cents. Crump's Index number 156;. *v£rag»% 155, icxlßC g**hst rsaorUi RAILROADS. Bair*. High. Low. Cloae. Atchison adj 4s. .. . 25 84% 81% 84% Atchison gen 4s. .. 47 91 _9O 90 B&Oprln3 %s. .. 10~99% 99% 99% B& O gold 4s 14 87% 87% 87% B&Ocv4%s 7 89% 89% 89% B& O ref 5s 24 85V* 85% 86% B&G6S 13 103% 102% 101% B & O rs imp 6» 188 101% 100% 100% B&O SW div 3%a. 12 99% 99% 99% B& O Toledo 4s. .. 5 68% 68% 68% Bklyn-Manhat 6s. .167 82% 81% 81% Canad North 6%5.. 9 115% 115% 115% Canada North 75... 11 115% 115 H 115% Canad Pac deb 4s. .163 81% 81 81% Car Clinch & O ss. . 11 98% 98% 98% Car Clinch & O 6s. . 12 102% 102% 102% Cent of Ga 6%s 1 99% 99% 99% Central Pacific 45.. 26 88% 88% 88% Ches &O cv 4%5... 67 96% 95% 95% Ches &O gn 4%a. . 10 88% 88% 88% Ches & Ohio cv 65..627 103% 102% 102% Chi & Alton 3%5... 32 41 40% 41 Chi B&Q Ist rs ss. 2 100% 100% 100% CB & Q-11l 3%5. . . 2 82% 82% 82% Chi B&Q gn 4s'sß. 10 89% 89% 89% Chi & E 111 gn 55... 35 72% 72% 72% Chi Great West 4s. 36 56% 66 66% CM & Puget Sd 4s. 1 65% 55% 56% Chi M&St P4s '25 . 45 79% 78% 78% Chi M&St P4s '34.. 6 75 74% 75 CM&St Pdb 45... 23 53% 63% 63% Chi M&St Pcv 4%s 45 61 60% 61 CM &StP gn 4%5. • 82% 82% 82% ChlM&StPrf 4%5. 41 54% 53% 55% Chi M&St Pcv ss. 11 59% 58% 68% Chi & N W 7s 12 107% 107% 107% Chi Rys 5s 32 78% 78% 78% Chi KI& Pgn 4s. . 21 84 83% 84 Chi HI& Prs 4s. . . 69 82% 81% 81% Chi TH& S E 55.. 12 80 79% 79% Chi Un Sta 4%s 2 92% 92% 92% Chi Union Sta 55... 2 101 101 101 Chi Un Sta 6%s 3 117 117 117 Chi & W Ind rn 4s. 28 77H 77% 77% Chi & W Ind 7%5.. 1 103% 103% 103% CCC &St L 4 %s. . . I 97% 97% 97% CCC &StL 5s 17 95% 95 95 CCC &Stl.rf 6s A. 3 103% 103% 103% Cleve Term 5%5... 5 105% 105% 105% Colo & Sou 4%s 31 89 84% 88% Del &Hd Ist rs 45.. 26 90% 89% 89% Den & Rio Gcn 4s. 73 78% 78% 78% D&UG latrf 55... 1 43% 43% 43% Des M&Ft D 4s. . . I 39% 39% 39% Erie Ist con 4s 9 72% 72% 72% Eric gen 4s 51 64% 64% 64% Krie conv 4s A 16 65% 65% 65% Erie con v4s B 11 65% 65% 65% Erie conv 4s D 68 75% 75% 75% Erie (Pa) clt tr 4s. 1 95 95 95 Or Trunk sf db 65.. 1 106% 106% 106% Grand Trunk 7s. . . 5 116% 115% 115% Great North 5s 13 94% 93% 93% Or North gen 5%5. 5 101% 100% 100% Gr North gen 75... 29 109% 109 109 Havana ERL&P 5s 3 86% S 6 86% Hud & Man ref ss. . 13 87% »7 87 Hud & Man aj ss. .. 38 66% 66 66 111 Central ref 45... 5 90 90 90 111 Central 5%s 4 103% 103% 103% Int Rap Tran ss. .. 183 71% 70% 70% Int Rap Tr 5s stpd .248 69% 69% 69% Int Rap Tran 65.. . 8 70 69% 70 Int Rap Tran 7s. . . 5 92% 92 92 Int&G Nor Ist 65.. 72 99% 98% 98% Int & G Nor aj 65.. 17 55 64% 55 lowa Cent Ist ss. . 2 64% 64 64% Kan City Ft S 4s. . . 2 81 80% 80% Kansas City Sss.. 3 89% 80 89 Kan City Term 45.. 6 85% 85 85 Lake Shore 4s ’31.. 12 96% 95% 96% Lehigh Val cn 45... 7 81% 81% 81% Lehigh Valley 6s. . 2 103% 103% 103% Long Island rs 45.. 5 85 85 85 Louis & N uni 4s ..18 92% 92% 92% Louis & N 3s B 10 104 104 104 Louis & Nash 5 %s. 9 107% 107 107% Manhat Ry cn 4s. . 19 61% 61 61% Market St Ry 75... 15 98% 98 98 Mil El Ry & L ss. . . 7 86% 86 86Vfc M&St L Ist ref 4s. 7 21 20% 20% M StP & SSM cn 4s. 28 88% 87% 87% M StP & SSM 6 Vis.. 9 103 103 103 MK & T Ist 4s 22 83 83 83 MK&T 4s B 2 70% 70% 70% MK & T adj 5s 89 61% 61 61 MK&TprlnSsA. 16 86% 86 86 Mo Pacific gn 45... 66 61% 61 61 Mo Pacific 5s '65... 10 83% 83 83% Mo Pacific 6s 12 98% 98% 98% Nassau ERy 4s '57 17 61 60% 60% ( NOTex&M in ss. 4 93 92% 93 N Y Cent gen 3%5. 63 78% 78% 78% N Y Cent cn 4s '98.. 16 84% 84% 84% N Y Cent r1 5s 60 99% 99% 99% N YCent deb 6s 16 108% 108% iog% N Y Chi &S L 5 %s. 53 95% 95% 95% NYC&StL 6s A . . 5 102 V. 102% 102% New Haven d4s ’57 5 49% 49 49 New Haven c d 65.. 21 78% 78 78 New York Ry rs 4s 36 43 42% 42% NYRyrf 4s ctfs.. 4 42% 42% 42% Now York Ry aj ss. 84 5% 4% 4% N Y Rys adj 5s ct.. 15 5% 5 6% N YOnt & W ref 4s 11 66% 65% 65% NY W & Bos 4%5. 26 56 55 55 Norfolk &W cn 4s. 10 90% 90% 90% Norfolk &W cv 6s. 8 122 122 122 Northern Pac 45... 10 85% 85% 85% Northern Pac 5s D. 11 96% 96% 96% Northern Pac r i 6s 26 107% 106% 106% Ore & Calif Ist 55.. 3 101% 101% 101% Ore Short L ref 4s. 25 9“% 97% 97% Ore Sht Lcn 5s '46. 2 105 105 105 Ore-Wash Ist rs 4s 28 83% 83 83 Pennsyl gen 4%5.. 23 94% 94% 94% Pennsyl 6%s 12 110% 110% 110% Pennsyl gold 75... 10 109% 109% 109% Peoria" & E inc 45.. 1 34% 34% 34% Pere Mrq Ist 45'56. 3 81% 81% 81% Pert Marq Ist 55... 23 98 97% 97% PCC&StL 5s A. . 2 100 100 100 Reading gen 45.... 1 94% 94% 94% Reading gn 4%5. .. 1 93% 93% 93% HI Ark&L4%s... 10 83% 83 83 St L IM&S 4s '29. . . 5 92% 92 92% St L XM&S R&G 4s. 3 85% 84% 84% StL&SFpI 4s A.. 34 71% 70% 70% St L&SF pr In ss. 2 86% 86 86 StL&SFS%sD.. 24 93% 93% 93% St L& S F adj 6s. .. 42 79% 79% V 9% St L& S F inc 6s. . .162 73 72% 73 StL&SFpI 6sC.. 9 102% 102 102 St LS Wist 4s 9 82V* 82 82 St LS W con 4s '32. 3 85% 85% 85% St PUn Dep 5%5. . 9 101% 100% 100% Seab'd AL 4s sta.. 1 72% 72% 72% Seab'd A L ref 4s. . 4 67 66% 56% Seab'd A L adj 55.. 93 63 62 63 Seab'd A L con 65.. 40 83% 83% 83% Sou Pacific 45'29. . 19 98 97% 97% Sou Pacific ref 4s. . 8 90 89% 90 Southern Ry gn 4s. 17 74% '74 74 Southern Ry Ist 5s 3 101% 101% 101% Southern Ry 6s ct.. 9 102% 102 102 Southern Ry 6%5.. 7 106% 106% 106% Sou Ry Mobile 45.. 2 82% 82% 82% Texas & Pac Ist ss. 10 99% 99% 99% Third Ave ref 4s. .. 8 59% 59% 59% Third Ave adj 55... 45 55% 54% 54% Tol St L& W 45.. .. 1 84% 84% 84% Toledo Trac 65.... 3 100% 100% 100% Union Pac Ist 45... 6 93% 93 93 Union Pac Ist rs 4s 2 87 86% 86% Union Pac 4s '27... 10 99% 99% 99% Union Pacific cv 6s. 1 104% 104% 104% Virginia Ry st Bs.. 10 96% 96 96 Va Ry & P Ist ss. .. S 92% 92% 92% Wabash 2d 5s 6 93 82% 92% West Shore Ist 4s. 1 83% 83% 83% Western Md 45.... 56 63% 63% 63% Western Pacific os. 9 92 91 92 Wheel &LE cn 4s. 7 68% 68% 68% Whel &LErf 4%s 7 65 64% 65 Wisconsin Cent 4s. 7 82% 82% 82% SEVEN KANSAS BANKS WILL REOPEN AT ONCE By the Associated Press. TOPEKA, Kans., August 4.—Seven Kansas banks which have been in the hands of receivers will open this month. Carl J. Peterson, State bank commissioner, announced today. Mr. Peterson attributed the reopening of the banks to the large returns from this year’s crops, which, he said, ■will repair the State s economic structure and put the institutions on a solid footing generally. FEENCH SEVENTIES GAIN. NEW YORK. August 4.—State revenue from all sources In France for the month of June totaled 2.- 122 133,000 francs, an Increase of 153.- 522.000 franca over the preceding month's collection, according to offi cial figures received by the Bankers’ Trust Company of New York. The ! gain was accounted for largely by an increase in taxes which mounted frepn 1.700.659,000 francs in May to 2.001.173.000 franca in June. loUa4 holidays ars proscribed for ilnnrnlrn gri . FINANCIAL. COTTON SELLS OFF, BUT SOON RALLIES By the Associated Press. NEW YORK, August 4. —The cotton market opened easy today at a de cline o?, 36 to 42 points under re newed liquidation. Local and South ern selling was encouraged by pros pects of showers in the Southwest and reports of favorable crop prog ress from nearly all other sections except North Carolina- October con tracts sold off to 27.75 and December 27.12. representing net declines of 40 to 53 points. Buying by spot houses and scattered covering later caused rallies of 10 or 20 points from the lowest. Private report placed the condition at 67.6 and the indicated yield at 12.275,000 bale.s. Cotton futures rio»ed steady. High. I xnv. Cloae. October 28.20 27.74 27,01-04 December 27.56 27.12 27.30-32 January 27.04 20.08 27.18 March 27.08 27.20 27.44 40 May 27.84 27,40 27.58-00 Opening: October, 28,00: December. 27.22: January. 27.13; March, 27.25, bid; May, 27.50. Rally After Opening. NEW ORLEANS, August 4—The cotton market opened easier today, with first trades 32 to 40 points lower, j Prices continued to ease off during ! the opening call until October traded ! as low as 27.00 and December at 26.96, or 52 to 54 points below Satur day’s close. The easier tone was due to reports of rains in extreme south Texas and indications of unsettled weather in other parts of that State. The market later quieted and rallied about 15 to 20 points while awaiting the weather map. A private condi tion report this morning made the average 67,6 and the indicated yield 12,275,000 bales. Cotton futures closed steady at net de clincn of 45 to 49 points. nijrh. Dow. Close. October 27,42 26.95 27.06 10 December 27.35 26.02 27.02-04 January 27,31 26.99 26.99-27.00 March 27.30 27.09 27.13 May 20.90 27.00 Openinc: October, 27.15; December. 27.10; January. 27.08, bid; March, 27.23, bid; May, 27.00, bid. GRAIN AND PROVISIONS. BALTIMORE, August 4 (Special) Potatoes, new, barrel, 75a2.25; bushel. 65a75; beans, bushel, I.ooa 1.50; beets, per 100, 3.00a4.00; sweet potatoes, barrel, 4 OOaiDOO: cabbage, per 100, 3.00a7.00; carrots, per 300, 3.00a5.00; corn, dozen. 15a35: celery, bunch, 25a 75; cucumbers, basket. TGaSu; egg plant. basket, 1.50a1.75; lima beans, bushel, 3.50a4.50; lettuce, bushel. 50a 1.00; peppers, basket, 1.00a1.25; peas, bushel, 2.00a2.75; spinach, basket, 1.00a1.25: squash, basket, 65a90; to matoes, basket. 1.00a1.50. Apples, barrel. ].00a3.50; bushel. 50 a1.50; blackberries, quart. 15alS; huckelberries. quart, 12a16; plums, basket, 40a65: peaches, bushel, 150a 2.50; melons, per 100. 15.00a50.00; can taloupes. crate, 75a3.50; pineapples, crate, 2.50a3.75. Settling Prices on Grain. Wheat—No. 2 red winter. spot. 1.42%; No. 2 red winter, garlicky, 1.33%; No. 3 red winter, garlicky, 1.30%. Sales —Cargoes on grade No, 2 red winter, gariickv, at 1.33%; No. 3. 130%; No. 4, 1.26%; No. 5. 1.22% Bag lots of nearby sold at a range of 1.22 to 1.28. Corn—Cob, new, 5.50 per barrel for yellow and 5.35 per barrel for white: No. 2 corn. spot. 1.10; No. 3. no quo tations; track corn, yellow, No. 2. 1.31 a1..32. Sales—None. | Oats—No. 2 white, 65a65*; No. 3 white, new. 64a64’i. Rye—Nearby, 95a1.05; No. 2 rye, spot, 1.02%. Hay—Receipts. 22 tons; in compari son with the demand, present receipts and offerings of hay, except old No. 1 timothy, are more than ample for j trade wants. Market is easy, low j grade, grassy and weedy hay being j especially hard to move. Quotations—No 2 timothy. 24 00a 1 25.00; No. 3. 21.00a22.00; No. 1 light clover, mixed. 24.50a25.00; No. 2 light clover, mixed. 21,00a22.00; No. 1 clover mixed. 22.00a23.A0; No. 2 clover. 20.00a 22.00; sample grade. 18.00a_1.00. Straw—No. 1 wheat, new. 12.00a 13.00; No. 1 oats, new, 13.00a14.00. • CHICAGO LIVE STOCK MARKET. CHICAGO. August 4 (United States Department of Agriculture).—Hogs— Receipts. 34,000 head; desirable grades I largely 35 to 50 higher; others slow; | big packers bidding steady; slaughter ■ pigs and light lights 50 to 75 higher; | active shipping demand; top. 10.40; i bulk good and choice 160 to 240 pound | weights. 10.10al0.30; better 250 to 325 ! pound butchers, 10.00al0.20; good and | choice 140 to 250 pound kind. 9.75a j 10.00; (racking sows, 5.50a8.90; strong ! weight killing pigs, 9.25a9.50. Cattle—Receipts. 20.000 head; ex j cepting few- early sales mostly to ' outsiders fed steers and yearlings : weak to 15 lower; bidding 25 lower !in instances; weightly kind down I most; shipping demand narrow; early i top matured steers. 11.65; some held higher; killing quality mostly good; 1 30 loads Montana grassers to killers. | 7.40a7.55, for horned and dehorned respectively; stockers and feeders very scarce, firm; she slock uneven; better grades grain fed kind very scarce, strong; others slow, steady to weak: other killing classes mostly steady; weighty bologna bulls. 4.50a 4.85; light kinds downward to 400 and below largely, 9.00a9.75; market on veal calves to packers; outsiders 10.00 and above. Sheep—Receipts, 37,000 head; slow; fat lambs uneven; steady to 25 lower: sorting more severe; few early sales native lambs. 12.75a13.25; culls. 8.50a 9.00; early sales range lambs. 13.50a 13.90; sheep steady; no action on feeding lambs: prospects steady. DAIRY PRODUCTS. BALTIMORE, Md., August 4 (Spe cial). —Live poultry—Spring chickens, pound, 25a34; Leghorns. 24a29; old hens. 18a25; Leghorns, old. IS; old roosters, 15; ducks. 15a16; Spring ducks, 20a23; pigeons, pair, 20a30. Eggs (loss off) —Native and nearby firsts, dozen, 27; Southern. 26. Butter —Creamery, good to fancy, pound, 37a39%; prints, 39%a41%; nearby creamery, 35a37; ladles, SOa-32; storepacked, 28a28%; process butter, 34a35. RAIL MERGER NEAR. NEW YORK. August 4.—With the resumption of conferences this week between the Van Sweringen interests of Cleveland and representatives of the Erie and Pere Marquette rail roads the financial community ex pects definite progress In the nego tiations for a merger of these roads with the Nickel Plate system. Estab lishment of new high records by the shares of all roads involved in the plan last week reflected the belief of Wall street that the Van Swer ingen Brothers had made a good start in their meetings with bankers. CLOTH SALES IMPROVE. Raw Wool and Silk Goods in Ac tive Demand. NEW YORK, August 4.—More ac tive business was reported at the close of the week in some of the finished cotton goods lines going to the jobbing and retail trades. Gray goods market held steady. Yarn showed some sympathy. Raw wool markets were firm, with some foreign prices advancing. Silk goods dis played moderate and steady improve ment. TREASURY CERTIFICATES. (Quotation* furnished by Redmond A Co.) , Soon. , Bid. Offer. ,VAs September 15. 1924.. 190% To yield 4>i» December 15. 1024. .. 100 25-32 100% 4k March 15, 1925 101 101 3-32 4%s March 15, 1925 101 15-32 101 9-16 4>A« June 15. 1925 101% 101 23-32 4%s December 15, 1925. .. 101 25 32 101 29-32 4%» M«rch 13, 1026 102% 102% 4%s September 15. 1026.. 101 15-18 102 1-16 4%s March 15, 1827 108% 103% *2e-fleeeatet iiW JUBM**, ita 648 J. 09 f-||j 112,283,23? RISE IN PIJBIJC DEBT Report Covers First Month of Fiscal Year—Trading on Local Exchange. The public debt increased by $12,- 283,237 during the first month of the government's new fiscal year, 1924- 25, beginning July 1, according to the Treasury’s daily statement. The pub lic debt stands at $21,027,684,745, as of July 31. The net balance in the general fund of the Treasury decreased dur ing the month from $235,401,481 to 1226,808,022. Bart of the Increase in ths public debt was due to rise In the sales of Treasury savings securities, which jumped to the highest monthly fig ures since the first of the year, when they were offered in exchange for the January 1, 1919 issue maturing. Announcement by the Treasury that, beginning July 15. the Treasury savings securities would be with drawn from the market until fur ther notice was believed to have stimulated buying and brought the sales up to $12,478,787 for the first 15 days of the month, as compared with the average of about $8,000,000 to $10,000,000 monthly since the first of the year. The Treasury organization in charge of selling these offerings is gradually being disbanded and is ex pected to be out of existence within a few more weeks. Lew Wallace, Jr,, director of the United States Govern ment savings system, in charge of the organization, has not annouiccd what his connection will be when the or ganization is closed, but it is thought he w-ill be given a berth in the Treas ury should he desire to remain in the Government service. His assistant, H. R. Sheppard, al ready has been transferred to the of fice of Assistant Secretary of the Wadsworth, succeeding Daniel W. Bell, who goes to the new position of deputy commissioner of ac counts and deposits. There are now outstanding five issues of war savings securities, sav ings stamps and savings certificates, from 1920 to 1924, totaling 422,930, as of J uly 31. Trading on I,oral Exchange. Trading on the Washington Ex change was fairly active today. One hundred dollars of Washington Gas Light Company 6s changed hands at 101%, while SI,OOO went at 100%. Ninety shares of Washington Railway and Electric preferred sold at 75% and 72 shares of Washington Gas Light Company went al 49%. Lanston Monotype moved five shares at 81%. Business Methods Scored. The Federal Trade Commission to day issued aui unfair practice com plaint against Keeler Bros. & Co. of Denver; Columbia Securities Co of Cortland. Oreg.; and the Na tional Finance Corporation of Ari zona, which, it said, are “owned, dominated and controlled by George E. Keeler and Frank W. Keeler." They were engaged in buying and selling water and improvement bonds of States, counties and municipalities. The complaint charged •’’flagrant in stances of fraud and misrepresents -. t10n.." in Nebraska. Operations wer - . also carried out in Utah. Idaho. Oregon and Montana, the commission said. Preparations of false histories or records of the acts and proceedings by which issuance of bonds wer< authorized and the alteration of terms and conditions of the bonds, the com mission charged, were among the practices employed, which also includ ed “the commission of forgeries in the histories, proceedings and signa tures of the bond issues" and of “bribing and subsidizing officials in the employ of the Stales and various corporate bodies." Tlfu.s Made Bank Official. Word has been received from St Louis. Mo., that R. P. Titus, formerly of this city, has been elected vice president of The Liberty Central Trust Company there. Mr. Titus was at one time secretary of the late j Speaker of the House Champ Clark. I and secretary to the, governor of the Federal Reserve board, during its or ganization. Mr. Titus was born in lyeesburg. Va,. and attended the public schools in Washington. Ht become associ ated with Howard & Co. of New York, a Fifth avenue retail jewelry house. | and later came to Washington. He is secretary and treasurer and direc tor of the Reserve Security Company of St. Louis, besides being a director of the First National Bank of Madi son. 111. Plant j of Freight Car*. The American Railway Association J through its headquarters here toda% j announced that surplus freight cars available for service on July 22 to taled 34,892, according to reports filed by the carriers with their car service division. This represented a decrease of 10.828 cars from the num ber reported on July 14. No indica tions of a car shortage were noted. 50S New Business Concerns, According to a compilation by the Journal of Commerce of New York, new enterprises formed in the United States in June, with an authorized capital of SIOO,OOO or more, numbered 508, representing an aggregate capi tal assessment of $572,195,750. 170.000 COAL CARS AWAITING SERVICE The American Railway Association reports that the railroads now have nearly 170.000 surplus coal cars in good repair and immediately avail able for service, but not in use, owing to the lack of demand for fuel. The division points out that the early shipment of coal would do much to make available additional transpor tation facilities so that the crop movement can be expeditiously han dled in the next few months. Coal production so far this year has fallen below the corresponding period in 1923, bituminous production alone up to July 12 having been more than 51,000,000 tons below that for the same period in 1923. C. & 0. PLANS CHANGES AT NEWPORT NEWS Special DUpatoh to The Star. RICHMOND, Va., August 4—Ac cording to announcement by Presi dent W. J. Harahan, the Chesapeake and Ohio will soon begin the con struction of improvements at New port News, entailing an outlay of $47,000. A wooden car float will be built at Newport News by the Ches apeake and Ohio. This will allow the heaviest coal cars to be ferried across Hampton Roads from Newport News to Norfolk, and it is expected to be a great benefit to the road’s patrons. This bridge will replace an old struc ture at Newport News, and will allow 100-ton cars to be transported to Norfolk. NEW FACTS ON SILVER. “Gold and Silver Statistics.” pub lished by the Commission of Gold and Silver Inquiry of the United States Senate, will be Interested in learning that this volume has just been re vised to date and enlarged by H. N. Lawrie, assistant to the commission, to include a great deal of additoinal Information of value not only to the producers of gold and silver, but also to economists and others who are studying the gold and silver situation. - - —■ BUTTER LOWER TODAY. CHICAGO. August 4.—Butter—Low er; creamery extras, 35%; standards. 35%; extra firsts, 34%a35; firsts, 33 a34; seconds, 32a32%. Eggs—Higher; recep it s, 20,032 cases; firsts, 27a28; ordinary firsts, 26aS6ft, '