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WEDNESDAY, DECEMBER 15,1926
FINANCIAL NEWS New York Stocks NEW YORK, Dec. 14 (AP)—With total salt's grossing the 2,000,000 mark for the first time in six weeks stock prices resumed their upword movement today under the leader ship of the industrial shares, the general average of which touched the highest level on record. The rally took place in the face of a of money rates, hut this was regarded as temporary and due to the heavy-month demand for funds. Bullish enthusiasm wa3 created by reports of unusually heavy holi day trade and by dividend and mer ger rumors involving several of the larger railroads and the smal ler automobile companies. Com mission houses reported an •expan sion in publis interest although profesionals continue to dominate trading in most of the speculative stocks. Baldwin Takes Leap Baldwin was again a sensational feature, soaring over seven points to 163 5-8, or within a small frac tion of the record high. The Mc- Croary Store issues, Loose Wiles Biscuit common and second pre ferred and Kelsey Wheel all clos ed 3 to 7 points higher. Renewed hying of General Motors carried that stock up above 152 hut it later reached to 151 1-4, up 1-4 net. Chrysler, which was strong yesterday, closed fractionally lower on profit taking. Mack Trucks crossed 101 hut slipped hack a point from the top. Pierce Arrow preferred closed two points higher. Rumors of mergers in circulation in Wall Street place Chrysler and Packard in one combination, and a number of small companies in another, but all these lack confir mation. U. S. Steel crossed 13 for a net gain of over two points. Among the score or so industrials to break into new high ground, were Dupont, South Porto Rican Sugar, Brooklyn-Manhattan Transit, Con solidated Cigar and Columbia Car bon. Rails Hove Slowly Rails move ahead with the indus trials, but not to the same extent. Nevertheless, Atchison, Erie, first preferred, and Hudson and Man hattan preferred, touched new 192 G peak prices, and Pittsburg and West Virginia was bid up nearly, three points. Call Ettmoy; held steady at five per cent all day. Time money was quoted at 4 5-8 to 4 3-4 instead of on a flat 4 5-8 per cent basis. Com mercial paper rates were unchang ed. With the exception of a moderate decline in sbme . of the distant wheat options, commodity prices generally were firm. Cotton closed 4 to I<> points higher on buying in fluenced by a bulish consumption report. Raw sugar was unchang ed and coffee prices advanced but slightly. Heavy short selling of French francs and Italian lire ggve the foreign exchange market an irregular appearance. French trancs were quoted nearly five points below their recent high and Italian lire showed an extreme de cline of nearly twenty points from the recent high level. On the oth er hand, demand sterling ruled quarter of a cent higher around $4.84 3-4. 0 A DAILY .HAIL want art will rent that spare room for you OUT OUR WAY I MO-MO" * MUH CA\Mf GFf IT j OFF 'TFAF'TA^AW! V SuH HBFTovA i ,i.J '■' double acTiom , Cl«« BY NBA SEnVICC. INC. Oats On Upturn As Wheat Falls; Corn Unchanged CHICAGO, Dec. 14 (AP)—Wheat underwent a substantial downturn in value today, whereas corn clos ed virtually unchanged and oats scored a new high price record for the season. Favorable harvest weather in Argentina together with cheapness of Argentine wheat of ferings to Europe did a good deal to pull the wheat market down. Wheat quotations here finished 3-8 c to lc net lower, corn unchanged to l-8c off, oats 1-8 to 3-Se up, and provisions varying from 10c decline to a rise of 17 <fp 20c down. Wheat consumers abroad were credited today with buying for only actual needs. Domestic mill ers, however, were said to he good purchasers of all milling wheat, although new flour demand is slow. Meanwhile, a decrease of 5,478,000 bushels in available stocks of wheat was virtually ig nored, the total supply remaining 19,148,000 bushels above last year’s figures. It was asserted also that an unlooked for big decrease of the United States’ visible supply to the contrary notwithstanding, the North American visible and the southern hemisphere surplus give ample evidence of abundant stocks. Annual adjustment at the close of lake navigation was put forward as explaining the unexpected shrinkage of the United States wheat visible supply. The large amount of wheat that appears to have eliminated is in reality trans ferred to a great extent to Georgian Bay and other lake ports on the Canadian side. According to a leading authority here the result that excess supplies above imme diate world requirement continues unrelieved. Corn prices w r ere steadied hv shipping sales to Michigan. It was pointed out in this connection that Indianapolis corn prices are rel atively higher than Chicago. Oats derived the strength from active speculative buying, May and July oats both scoring a new high price record for the season. Demand from provision sellers made prices average higher. [ LIBERTY BONDS | NEW YORK, Dec. 14 (AP) —Lib erty Bonds closed. 3 1-23, 100.26; 2nd 4’s blank; Ist 4 l-4s, 102.26; 2nd 4 l-4s, 100.31; 3rd 4 l-4s 101.- 12; 4th 4 l-4s, 103.70; U. S. Govt. 4 l-4s, 10.9.28. - —o— ■ ■- New York Cotton "] NEW YORK, Dec. 14 (AP) —The general cotton market closed steady at net advances of 4 to 10 points. —o ■ - METAL MARKET”] v s NEW YORK, Dec. 14 (AP)—Cop per, quiet; electrolytic, spot and futures 13 5-8; lead, dull; spot 790. Zinc, steady; East St. Louis spot and futures 705. Bar silver, 53 3-4. o READ and USE “HAIL” want arts for PROFIT |M0 M ’N POP -'r, - . MlGHTgtiil ~3=pq NC ( Gee.mom-isn'A ( <Socpnks.wo- A A \i 1 8P li La syi §r Stear tßir x SsiN' y m\ nil November Shows Slump Over Other Months Os Year WASHINGTON, Dec. 14, (API- Financial and business activity in the United States during November failed to keep up with the extra ordinary previous months of the year, the Federal Reserve hoard noted today. Seasonal curtailments of produc tion in industry went somewhat further than usual, though the sit uation was mitigated to a consid erable degree by a resumption of accelerated output in several in dustries, notably textile and coal mining. Building construction, which has been under a forced pace for some time on a national scale, proved to be a little smaller during late fall and early months of the present year as compared with the same periods in 1925. Wholesale and re tail selling was also found a little under last year’s record. In spite of these less favorable factors, transportation business on railroads was noted as having climbed to record volume during October and to have continued during November. Agricultural in dices, largely because of the slump in cotton, indicated a less satisfactory return to the farmer than last year, though there were some exceptions as in the case of dairy products. Along with the easing up of bus iness activity generally, the gener al level of prices was found to he declining in November. The credit situation, however, was marked by .a shrinkage in loan accounts. START WORK ON NEW PROPERTY IN ASH CREEK PRESCOTT, Dec. 13—A new cor poration has just been organized by Eugene Milligan of this city and A. R. Human of Humboldt tp take over the latter’s property on upper Ash Creek. This new corporation is known as the Black Hill Copper company. Associated with Messrs Milligan and Human is A. Cole, of Louisanai It is said that work will begin at once upon the group, which has a splendid surface show ing, and will be continued with diligence until the ground is thoroughly proven. o Phoenix —Outstanding exhibit at State Fair this year, is that of Arizona State Highway Depart ment. By Williams WINSLOW DAILY MAIL HOUSING NEXT LEGISLATURE IS HUGE PROBLEM PHOENIX, Ariz. Dec. 13—Three plans will be presented to the Eighth session of the state legis lature which convenes January 8,: 1927, for enlarging the office space in the state capitol to relieve the present congestion of state office space, it was disclosed yesterday by Governor Hunt. The governor declared he had in structed three architects to draw np plans and specifications for the three separate methods of enlarg ing the office space in the capitol, and that these plans would he ready for presentation to the leg islature when it meets. The plans suggested by the gov ernor and for which drawings are being made are (1) an addition to the present building, (2) a separ ate building to he erected in the same block on Jackson street south of the capitol, on which the high way building is located. Any of the three methods, the governor stated, will provide am ple space to care for the overflow from the state capitol building, which is now taxel to its limit to provide office and state officials and their office -equipment and at taches. • With the eighth session of the legislature but a matter of days away, the ingenuity of A. J. Keen, custodian of the capitol building is being taxed to arrange matters so as to care for everyone during the 60 days session of the legislature not counting the special session to follow, which at present appears inevitable. The governor expressed an opin ion that Mr. Keen would be able to pack away the overflow, hut doubted if the method used would suit all concerned. There will, of course, the governor said, be fric tion, for even state employes can not be expected to rub elbows at close quarters without some fric tion. Present plans provide for mov ing the industrial commission, now occupying the senate chambers to the fourth floor of the capitol building. In doing that, it is pointed out, office space some where will have to be found for the American Legion State depart ment office and the state exam iner’s office, which occupy the fourth floor. Office space also must be found for a part of the state vocational department, now using two com mittee rooms of the house cham bers, and for the secretary of state board of health, also occupy ing a committee room of the house chambers. With every room in the state capitol outside of the house and senate chambers in use, the task imposed upon Mr. Keen, the gov ernor said, is a gigantic one, due to the fact that the walls of the capitol are not made of rubber and will not stretch so that one more may be crowded in. Another problem which Mr. Keen must solve and one which will tax his ingenuity some more, the governor explained, is that of squeezing five addtional members in the lower house of the legisla ture. During the session of the Seventh legislature, every bit of available space on the house floor was used to accommodate the membership of that body, and the solution of the seating plan was facilitated by giving the speaker no desk on the floor. WiLh five more members in the house in the eighth legislature than were in the house of the pre vious session, the problem becomes one of some importance, the gov ernor pointed out. “Mr. Keen,” he said, “finds himself in the same predicament as the man who tried to ship a calf in a box that was too small to contain the calf and its tail. To leave the tail hang ing outside was in violation of the carrier’s rules, and he cohdn’t poke the tail inside the box, so he solved the problem by wrapping the tail around the box and nail ing it fast. I guess Mr. Keen will have to wrap the tail of the Eighth legislature around the house cham bers and nail it to the walls.” o HM HAD HOPE “Do you, Stacks, think that a rich man can go through the eye of a needle?” “I don’t know. I will, however, admit that my lawyers have drag ged me through some very small loopholes.” More Truth Thau Poetry SHIP’S CAPTAIN, ALONE, BATTLES CREW IN MUTINY NORFOLK, Va„ Dec. 14 (API- Armed coast guardsmen on the cutter Modoc, which carries two five inch guns, tomorrow morning will remove Captain W. A. Albert, master, and the mutinous crew of the four masted schooner Charles A. Dean, ashore on Frying Pan shoals, off the North Carolina coast whether they want to leave the ship or not. These were the orders issued to night by division coast guard head quarters here to the crew of the cutter Modoc which left Wilming ton late today for the scene. Coast guardsmen from the Oak Island station on the North Car olina coast today found the crew of the schooner in a state of mu tiny when they came to her aid. They were not permitted to board her. Both Captain Albert, well known ship master of Boston, who was described as facing the crew single handed with a gun behind a bar ricade in the stern of the ship, and members of the crew were said to have ordered the coast guardsman to keep away from the vessel. The crew also were reported by the guardsmen to have been armed out the cause of the disturbance on the ship has -not been ascertained. Reports to division headquarters, lacking confirmation said a de mented man was aboard the schooner in irons. Coast guard officials were of the opinion that the schooner was driv en ashore because Captain Albert was busy defending his life and was not able to steer the vessel properly during a strong easterly wind. N.A.T.C. WINTER TERM FLAGSTAFF, Dec. 14. Grady Gammage, president of the North ern Arizona Teachers College, an nounced today that the winter quarter will begin on January 3. Students entering at this time and taking work through the sum mer quarter will be able to com plete a year work at the college, it was said. You’ll find you haven’t forgotten how to laugh when you see “Adam and Eva,” senior class play, Wash ington auditorium, December 21st. Sia^ETlNGS~ftg ' Christmas Cheep ' ■ Co "Y&u Everyone IT’S TOO LATE NOW! TO ORDER ENGRAVED GREETING CARDS The time necessary for copper plate engraving makes it impossible now for us to guarantee de livery on engraved cards — BUT- We have a remarkably attractive line of - CARDS FOR PRINTING OR EMBOSSING Prices are reasonable—the effect pleasing. Be sure to order soon, to assure delivery. JOB PRINTING DEPARTMENT Winslow Daily Mail Santa Fe Starts Relaying o$ Steel Rails At Prescott PRESCOTT. Dec. 14—Work of relaying new 90-pound steel rails between Prescott and Skull Valley has begun with several gangs of trackmen, 60 in number, unloading flat cars in Prescott and along the right-of-way to Skull Valley, it was announced this morning by Santa Fe officials. Old rails between here and Skull Valley are considerably worn, it is said, and the railway engineers de cided to lay new rails during the winter months in preparation for the big fruit and produce move ment north next summer from the Salt River valley. It is expected that the relaying of the rails will not be completed for a month and a half. The order from the Santa Fe calls for a total of 90 cars of rails from the Colo rado Fuel and Iron company of Pueblo, Colorado, a Rockerfeller subsidiary, for the new track to Skull Valley, 75 of them having al ready arrived. The Prescott-Skull Valley sec tion was reballasted about a year ago with volcanic cinders from the Ash Fork district, and for that reason very few new cross-ties will be replaced. Arizona Will Get Totai Os $40,947 From Forest Funds ALBUQUERQUE, N. M.„ Dec. 13. —The state’s share of the national forest receipts for the fiscal year ending June .30, has been appor tioned. From these funds Arizona will receive $40,947, according to Albert Morris, district fiscal agent. The state’s share of the net for est receipts, according to Mr. Mor ris, is provided under the various acts oi congress. Twenty-five per cent of the net receipts go direct ly to the counties within which the forests are located, for school and road projects, the amount allotted for each purpose to be de termined by the state. The 10 per cent fund, included in th? above amount, is credited to the forest service for the construction of minor roads and trails within the The funniest thing you ever saw —“Adam and Eva,” presented by the senior class of Winslow •High School, December 21st, S:00 p. m. RATON POLICE CHIEF SLAYER GETS SO YEARS RATON, N. M„ Doc. 14 (AP) Newton Brigance, youthful slayer of Police Chief Oscar Davis of Ra ton, pleaded guilty to second de gree murder in district court here today. He was sentenced to from 90 to 99 years in the penitentiary by Judge Brice, of Roswell. The plea came as a surprise as defense counsel had announced that they intended to file a motion for a change of venue. national forests of the state. The amount apportioned to Ari zona from the net receipts this past fiscal year, is much less than in previous years, due to the waiv ing of the grazing fees. The amount of forest receipts appor tioned in 1924, which was about the average, amounted to $175,000. JUMP the first few days of it's existence, consist- jgp' , ent and judicial use of jw simple remedies, will W often “kill” immediately a cold that might ulti mately become serious. We have a complete stock of various home remedies, simple, harm less and effective. Central Drug: Co. Films developed and printed 1 IF WE KNEW A BETTER WORD WE WOULD USE IT— Ur say that, licoansi wr do not like (lie word “Senior.” If is ;i Hindi overworked word, yet In our business it is 1 lie only word that will apply. Truly, ours is n business of senior; as wr serve (or help you prosper) wr* profit. Certainly* then, we shall continue to make “Service” our bus. iness. U. S. DEPOSITORY FOR POSTAL SAYINGS Money Loaned on Any Good Security OFFICERS;— R. C. KAUFMAN, President; GEO. HAMMOND, Vice-President; G. T. STEVENS, Cashier DIRECTORS;— R. C. KAUFMAN, GEO. HAMMOND, G. T. STEV ENS, L. O. HOHN, E. H. FRENCH PAGE FIVE By Taylor WE THANK YOU (Continued from Page ) JANES lUANCONI I'ay’ii Takif Manager m ‘The new Daily Mail should find a ready welcome in northern Ariz ona. which has gone without a daily long enough.” THOMAS 11. NCR RAY Santa Fe Official Thomas H. Murray, traveling freight and passenger agent <tf the Santa Fe, who was in Wistow yes terday, paid a visit to the Daily Mail office for the purpose of com plimenting- the publishers on, the new daily. Mr. Murray said: “Winslow should be proud to have a live daily paper, and for a city of this size T will say that The Daily Mail compares with the best.” Winslow High School’s senior class present their annual play, “Adam and Eva,” Washington .au ditorium, December 21st., at. ( 8:00 p. m.