davidaulloa/AmericanStories huggingface dataset:
Evening star., 1925-10-22
ORDERLY ADVANCE
IN MEXICAN BONDS
Rail, Oil and Other Issues in
Domestic List Also
Active Today.
By the Associated Press.

NEW YORK, October 22.-Another
orderly advance in prices took place
in today's early bond trading, which
was featured by another outburst of
activity in Mexican obligations.
Indications that conferences now
in progress between international
bankers and the Mexican finance min
lister would lead to an adjustment of
debt problems stimulated buying of
these issues, which rose l 10 2h
points before noon.
Other foreign bonds were quiet,
with the exception of Greek Is. which
were depressed by the outburst of
hostilities between Greece and Bull
earia.
Buying Of railroad, oil, paper and
miscellaneous issues marked dealings
in the domestic list. with gains of !
to . points recorded by Chicago Rail-
way 5s. Pan-American Petroleum 6s.
Sinclair Oil 6s. International Paper
os, Union Bag and Paper 6s and In
ternational Mercantile Marine 6s.
Evening star., 1925-10-22
WHEAT LOWER TODAY
IN CHICAGO MARKET
Weakness in Liverpool Hurts Do
mestic Values-Corn
= Also Down.
By the Associated Press

By the Associated Press
CHICAGO. October 22-Wheat un-
derwent a sharp new setback in price
today soon after business began.
Heavy selling, ascribed largely to
noted Eastern SpeCulator. was in evi
denCe. and there was no aggressive sup
port apparent from buyers. Beneficial
rains in Australia We're reported, and
warm, fine weather in Argentina with
the worlds available supply of wheat
showing an increase of 7G,019 900
bushels for September, as against an
increase of il ,9l2 900 bushels in Sep
tember last year. The opening, Il to
lower. new style, December 1.4324 to
1.44h and May 1.4112 to 1.42, was
followed by a slight rally and then
by drop TO - for December and
1.407s for May.
Fresh low-price records for the sea
son We're reached by corn. Downturns
came chiefly as a result of wheat
weakness. After opening unchanged
to l. off, December 1878 to "a, the
market hardened a little, but then de
clined again.
Oats were easy, Influenced by other
cereals. Starting unchanged to lsal4
lower, December 39is to SO IA, the mar
ket remained at about the initial limit
Big deliveries of lard today on Oc-
tober contracts weakened the pro-
vision market
Evening star., 1925-10-22
NEW STOCK ORDERS
TOTAL $13,3O0,0OO
Pepco Issue Is 0versub-
scribed 6 IL Times, ExcIu-
sive of Foreign Orders.
BY CHiS. p. SHAEFFER.

The issue of 1000 900 of new 6 per
cent. voting preferred stock of the
Potomac Eectric Power co. was over
subscribed more than six and one-haT
times, officials of the company an
nounced this morning.
Total subscriptions received We're
for 900 shares of the stock, inVolN
ing a gross total of S13 100000. Sub
scribers desiring to participate in the
issue numbered 4 4,635. These figures
do not include out-of-town Subscrlp-
tions, which were not considered and
which offers further testimony to the
high regard in which this utility is
he'd. Local subscriptions averaged
1853 shares per subscriber.
Policy to be followed in making al
fotmentS will he announced shortly,
it was said at headquarters, this work
being in charge of a trio of directors
namely, President William r. Ham,
Eugene f. Thompson and Clarence F.
Norment. 1T was again indicated.
however, that small orders would be
given preference, particularly from
one to five shares. which would prob
ably be nlled in full.
Evening star., 1925-10-22
COTTON FUTURES
ARE BARELY
Easy Cables and Favorable
Weather Reported-Good
Buying on Declines.
By the Associated Press.

Dy tIe AbsOtldLtS fTcsS.
NEW YORK, October 22-Cotton
futures opened barely steady; October
21.70; December 21.35; January, 20.55;
March, 2O.85: May, 2O.9S The market
lower, owing to relatively easy Liver
pool cables, better weather in the
South and reports of Southern hedge
selling.
The opening showed a decline of
to ID points, with net losses Of is
to 20 points by the end of the first
hour. December sold off to 21.27 and
March to 20.S0 under Southern selling,
local and Wall Street pressure. There
was active buying on a scale down
for trade and speculative accounts
and the market seemed able to alb
sorb good many contracts at the
lower level of prices.
Cotton Values at Noon.
NEW YORK, October 22.-11:45 am.
bids steady; October, 21.52; December,
21.31; January, 2O.60; March, 20.S6;
May, 20.99.
New Orleans Quotations.
NEW ORLEANS. October 22.-Cot-
ton futures opened steady; October,
20.75; December. 20.65: January. 20.5S;
March, 20.55: May, 20.49. The cotton
market opened fairly active. First
trades showed losses or IA 10 10 points
mainly because of lower cables than
due. December traded down to 2062,
January to 20.56 and March to 1854.
Uncertainty as to the showing TO be
made by the Government report. due
Monday is the main check to selling
although sentiment continued very
beariSh.
NEW ORLEANS, October 22.-
Noon bids steady; October, 20.66;
December, 2063; January, 20.57;
March, 20.53; May, 2O.49.
Evening star., 1925-10-22
PRICES co HIGHER
IN STOCK MARKET
motors Again Lead Rally.
New High Marks-Trading
Again Enormous.
BY STUART r. WEST,

kSpecial Dispatch to The star
[ NEW YORK, October 29.-Today s
bnarket again was much more orderly
than the market of a week ago when
;the wild trading was going on in mo-
ttnr shares But it was still u tre-
anendous market in point of business
volume Most of the day the stock
tlicker was Is to 20 minutes behind.
/ Days New High Mark.
| A large number OF stocks reached
tnaw high prices for the year. Among
f1hese We're Marland Oil. which was
fthe leader of the oil group; kenne.
y te0tt, Magma, Utah and (alloWing for
the dividend Cerro de PaSco in the
copper section: Baltimore and Ohio,
which was the railway feature, cross
ing 81 for the first time: North Ameri-
can, Montgomery Ward. Texas Guif
Sulphur. Union Bag and Paper, which
Shot up another points: Weber X
Heilbroner. which was up over );
Continental Insurance, L. :. Realty,
L. S. Distributing, which was up over
points: Yellow Truck preferred,
American Safety Razor, General CT
gars and American Tobaccos. the last
named rejecting confidence that the
dividend rate will be increased from
81 to SIS.
OH SHOCKS Are SIfOnS.
The oil stocks were all strong.
Along with Marland there was lnde-
pendent Oil and Gas, which pushed
forward at one time ! points The
Durant interests, whether rightly or
not. were credited with this move
ment. Pan-American "B" jumped
more than . points and on large
turnover stocks like Texas Co, Phil
lips Petroleum. Pure Oil and General
Asphalt gained half point to point.
The public was coming eagerly into
this class of stocks on two grounds.
first, because they had had compara-
lively little advance. and, second. be-
cause the profits of the oil companies
had been underrated by the average
observer, the awakening coming with
the publication of the third quarter
reports of Narland and Phillips Pc
troleum.
Report Boosts Stocks.
Republic Iron and Steel developed
no activity as the result of the re-
port for the September quarter. show
ing 81 SO a share earned, against Sl.31
the previous quarter, and comparing
with deficit after preferred DIVIDENDS
in the same three months of 1924.
Gulf States Steel, however. was bid
up over a point following the publ
cation of it's quarterly figures. show
ing net profits of S210,732. against
s176,4S7. during the same period u
year ago.
Evening star., 1925-10-22
SOUTHERN BUYS RAILS

NEW YORK. October % CP.-The
Southern Railway has bought 1920
tons of steel rails for track improve
ment requirements in the first half of
1926. Tennessee Coal, Iron and Rail
road Co. got $4,000 tons. Bethlehem
Steel 1000 tons, and Inland Steel
. 600 tons
Evening star., 1925-10-22
Markets at a Glance

NEW YORK-Stocks firm: General
Motors again leads advance. Bonds
higher; Mexican issues rally. Foreign
exchanges mixed; French francs break
to years low. Cotton lower; favor
able weather. Sugar easy; heavy Wall
Street and Cuban selling. Coffee firm
higher Brazilian markets.
CHICAGO.-Wheat weak: Eastern
speculative selling Corn steady; ru
mors of export demand. Cattle dull;
supplies small. Hogs dull and lower.
Evening star., 1925-10-22
FOREIGN EXCHANGE.
Quotations furnished by w. B. Hibbs Co..
Nominal Selling checks

NEW YORK, October % P).-For-
eign exchanges irregular. Quotations
Tin cents): Great Britain. demand,
4S41s; cables. 4S4S; 60-day bills on
banks. 4S0 1916. France, demand, 4.31;
cables. 4.31h. Italy, demand. 3.941a;
cables. 3.95. Demand-Belgium, 4.55 Y !;
Germany, 23.SS: Holland, 40.16k
Norway, 20.32; Sweden, 26.75; Den
mark, 24.72; Switzerland. 19.261, &.
Spain. 14.3O; Greece. 1873; Poland,
1855: Czechoslovakia. 2.96: Jugo-
slavia, 1.77A; Austria, 14B; Ruma MIA.
47a: Argentina. Ais; Brazil. 1906;
Toxic, Al; Shanghai, 1875; Montreal,
100 3-16.
Evening star., 1925-10-22
NEW YORK METAL MARKET.

NEW YORK, October % P.-Cop-
per steady: electrolytic, spot and fu
lures. 141sa143s. Tin firm: spot and
futures. 63.62 Iron firm No. l
Northern. 2l5Oa22 90; No. Northern.
2O50a21 90; No. Southern, COCOA
21OO Lead steady; spot. 9.50a9.60.
Zinc strong; East st. Louis spot and
nearby. $50: futures, S.45a8.50. An
timony, spot, 1900.
Evening star., 1925-10-22
RATES ON BAR SILVER.

LONDON, October % P).--Bar sill
yer, 33b per ounce. Money, 31a per
cent. Discount rates: Short bills,
80 per cent; three-month bills, 3Aa
3 1916 per cent.
NEW YORK, October % P).-Bar
silver, 711a; Mexican dollars, SO.
Evening star., 1925-10-22
TODAY'S MONEY RATES.

NEW YORK, October % CP.-Cau
money steady; high. AZ; low, Az !;
ruling rate, Ak; closing bid. Az; of
fe1ed at Az; last loan, Al; call loans
against acceptances, 3la; time loans
firm; mixed collateral, 60-90 days, AKA
5; 4-6 months, 5; prime mercantile
paper, ~.
Evening star., 1925-10-22
STEEL SHEET SALES
IN SHARP ADVANCE

NEW YORK, October % C0-Sep-
tember sales of steel sheets are calcu-
lated at 1850 tons by the National
Association of Sheet and Tin Plate
manufacturers, or S9.6 per cent of
capacity, compared with 239.492 tons,
or 77.3 per cent of capacity. in August.
Production was 295,Sl0 tons. against
262 $50 the month before, and untitled
tonnage October was 497,793 tons,
compared with 400 $50 September !.
Evening star., 1925-10-22
FIRST DIVIDEND VOTED.

q, NEW YORK, October 81 CP.-An
initial dividend of 81 share has been
declared on the common stock of the
Northern Ontario Light & Power Co.
Ltd, payable November 90 to stock of
record November 10.
Evening star., 1925-10-22
DIVIDEND VOTED.

NEW YORK, October % CP).-Ohio
Copper Co. has declared a dividend of
per cent, payable December l, to
stock of record November IA. A simi-
lar disbursement was authorized on
October -, 1924.
Evening star., 1925-10-22
LEAD AND ZINC OUTPUT.

JOPLIN, October % (SpeciaD.-Lead
and zinc production is on the increase.
with 165 mills, a new high record, in
operation; average production is about
100 tons, making a weeks run in the
Tri-State district about 16, 500 tons.
Evening star., 1925-10-22
FIRST DIVIDEND VOTED.

NEW YORK, October % R.-
Southern Colorado Power declared an
initial dividend of so cents a share on
the class A common stock, payable
November Is to holders of record Oc-
tober 81
Evening star., 1925-10-22
GERMAN BONDS AND STOCKS.
LIVE POULTRY PRICES.
Quotations furnished by Redmond & Coz

CHICAGO, October % R.-Poultry.
alive. steady; receipts, cars: fowls,
l6a25; springs, 21k; turkeys. 25; roos-
ters, II; ducks. 20; geese, 10.
Evening star., 1925-10-22

Dividend rates given in the above table
are the annual cash payments based on the
Unless otherwise noted. extra or special divi.
dends are not included . =
optional in stock 'Partly stock. fPartly yv
extra. sPayable in preferred stock. tPIus
~ in stock payable / 20 quarterly TPius
Evening star., 1925-10-22
Protest Before ]. c. {.
Talk of Higher B. & o. Dividend.

Current stock market activity IN
Baltimore and Ohio has revived talk
in the local financial district OF pos
sible increase in dividend rate to or
possibly : per cent. It's present rate
is ) per cent.
Whether the rate is advanced with
in the near future or not. some inter
ests purchasing the issue desire TO dis
count such a movement we'll ahead.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-31
CEMENT.

All records We're topped by cement
production during 1925. More than
1913, 000, 900 barrels were produced,
compared with about $50 900, 600 bar
rels last year. This was far above
capacity of the plants which existed
at the opening of the year. EXpan-
sion and new construction of mills
accounted for the increase. Produc-
ton did not slacken as usual in the
Fall and Winter months, since phe-
nomenal Fail building programs, 20
per cent heavier than in 1924, sus-
tanned demand and the road and paw
ing construction under way provided
an outlet greater than ever in the
history of this country. The roads of
America absorb about % per cent of
the cement output
Production was held close to CON
suming needs and the year ended
With no burdensome stocks on hand
Consequently the outlook for the first
three months of 1926 is very favor
able in spite of the usual seasonal
let down and a drop in prices which
appeared in December. Gain in profits
TO manufacturers held closely TO the
ratio of the gain in output.
The general average of prices was
up to that of 1924 during the first
10 months of the year except in
January and october.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-31
FURS.

STYLES did much for the fur industry
in the last year. Fashion dictated a
demand for pelts for trimming pur-
poses which was difficult at times TO
fill. while the cali for garments en-
tirely of fur was increased by the gen
eral prosperity which prevailed IN
doubtedly. the features of the year in
the fur industry were the strong de-
mand for muskrat and the merging of
three huge concerns into the largest
fur organiza tions in this country.
Among other activities 1t Will have
the marketing Of the Government seal
skins from Alaska.
The muskrat demand was such that
more than 10000 trappers took out
licenses last Autumn in Louisiana, the
main source of supply. Quitting by
trapperS was equally active out or
Kansas City and other centers. The
fur bearers of the North will be called
on to fill a greater demand than ever
before.
Many furs were developed under
trade names during the year, and this
trend aided sales of skins of domestic
animals, especially rabbit. Fox, skunk,
squirrel, mink, beaver. fisher, marten
and other furS were in keen demand,
as were raccocn and opossum. The
development OF extremely expensive
garments ranging from $4,000 up
ward in price was not extensive.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-31
CANNED GOODS.

The canning industry found 1925 an
exceptionally satisfactory and profit
able year. Packs of canned goods
were large, prices We're at normal
levels and sales We're excellent. When
the year started ii seemed that there
might be a shortage of some goods,
but all requirements We're met.
The pea pack amounted to $4,000 900
cases and was sold out closely at
prices which assured Il good profit.
The largest pack of corn on record,
totaling 1900, goo cases, fortunately
came on a bare market and was
moved at very satisfactory prices.
Demand was SO great that Iowa, pack
ing $500 goo cases, could not fill all
orders accepted. The entire output
now is out of first hands.
There was a large pack of tomatoes,
estimated at 15,000.000 cases. The
Eastern Gamers put up so large a
quantity they could not carry their
supplies and dumped them, democrat
iZing prices to some extent. Western
packers did not meet the price cuts,
claiming Il better quality for their
products, but because of the heavy
Eastern supply demand was not suf-
ticient to clean up entirely the West
ern pack.
String beans, pumpkins. sweet
potatoes and fruits and berries went
exceptionally we'll and prices We're
well maintained at a profitable level.
Most OF these products have passed
out of packers hands.
The outlook for 1926 is bright. The
1928 packs are moving steadily into
consumption.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-31
CLOTHING.

The sale of higher priced clothing
on the installment plan was the fea-
ture of the year in the clothing in
dustry which those engaged in it
complained yielded unsatisfactory re
suits. There was strong consumer
opposition to any advance in prices
and clothiers and clothing manufac-
turers declared that people would
rather buy automobiles and radio
sets on q part payment basis than
wear new clothes.
They originated the part payment
clothing plan to fight fire with fire."
although its sponsors said they did
not expect TO see more than Is per
cent of the high priced clothing sold
in that way even after several years.
The sales of heavyweight clothing in
the Fall was excellent but the ad-
vance orders for Spring goods were
by no means so good.
Women's apparel was more active
and in better demand than clothing
for men. This seemingly was due to
style trends which led away from the
buying of piece goods and making of
their own dresses by women. Silk,
rayon and velvet goods We're the ia
vorites in women's wear and while
the woolens benefited to some ex-
tent they We're not so extensively en-
ployed as in some other years.
Some consumers and retailers de-
clared the manufacturers of mems
clothing were behind the times and
We're attempting to sell what they
wanted to make. rather than gar
ments the public wanted to buy.
Some large retailers in consequence
made heavy purchases abroad.
The pride in appearance campaign
of the clothiers, which is a three-year
program, was waged vigorously and
undoubtedly had considerable effect
on the public.
Buying by retailers was in small
lots and manufacturers gradually
came to see that this was "a perma-
nent trend and adjusted themselves
to it, There We're comparatively few
labor disputes. Work clothing was
in splendid demand throughout the
year Prices We're fairly stable at
about the same relative levels as
in 1924.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-31

hands had risen from CO ,0o7 tons to
72,855. They decreased. however, in
November. Production was ahead of
that of 1924 in practically every month
of the year. Prices were also higher,
and. since overhead in some prop
critics was cut through mergers and
other means, profits were better.
Lower prices obtained in December.
Lead and zinc suffered sharp drops
in prices in the early part of 1925
but recovered sharply. Lead rose to
above 10 cents at st. Louis, with a
premium for prompt delivery, but
later relapsed slightly although the
late months of the year showed the
market strong and fairly stable.
Zinc went to the highest mark since
April, 1920, and as the yeaf closed the
metal was statistically very strong
Each month showed an increase in
production as compared with 1924, yet
stocks declined. Prices for both lead
and zinc showed IA gain for each Of
the first IL months of 1925 over the
corresponding month of 1924.
Silver prices were consistently
stronger than in 1924, under urge Of
increased use in the arts.
Tin rose TO new high price levels
under call from tin plate manufac-
turers and influence of a world supply
well uIlutI tIldL Oh the previous year.
AS the year closed production was on
the increase. with indications of recess
SiOnS In quotations.
Aluminium prices in general We're at
"A slightly higher level in most months
than In 1924, with demand excellent
As, the year closed, consumer buying
of nickel was heavy, with the leading
interest producing at so per cent of
capacity and profits estimated at
nearly double those of last year. The
contracts for 1926 signed SO far indi-
ate price increases in the near future
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-31
STEEL.

Profits in the steel industry in 49,
showed q decided Improvements over
the preceding year 50 far as The large
integrated companies We're concerned.
When the wear closed il was "a CUES
ton whether steel ingot production
would exceed that Of 1923. It was
certain some weeks go that the 1924
output, which averaged llS.0OO tons
daily, would De exceeded.
The most Impressive thing about the
steel year Was the steadiuess shown.
The upswInG Of late 1924 lasted only
into February. Then for a period
there was slackening. Recovery
from this came toward midyear. bur
the industry resisted the tendency to
ward OverprOdUctiun so easy with
plant capacity 1T its present high
level, and also the tendency toward
increasing prices.
Thus demand was unchecked either
by Il plethora Of production or advance
in prices. In consequence the latter
half of the year brought steady i'm
prOyement to the business, although
The coal strike injected an element If
uncertainty into the pig iron situation
ore shipments were high above those
OF 1924, and activity on the Minnesota
ranges this Winter viii he strongly III
evidence.
Operations We're maintained at or
above 50 per cent of plant capacity at
the year end. and the volume of bust
ness booked for 1926 delivery assured
continued activity for some months to
come. Prices began To advance after
October and there was throughout the
year notable absence of price cutting
to maintain production.
Railroads have bought heavily for
lLpt HpilTpf-v- GflGl dom n ~
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-31
OIL.

Better but not good. That is a short
summing up of the year with the pc
troleum companies. Oil consumption
was maintained at remarkable rate.
This applied especially to gasoline,
high consumption of which was main
tanned even into the Winter. AS a re-
suit of the Improvement in statistical
position, the earnings of many oil con
Germs We're the best in several years.
Production trend was downward as
the year neared its end and there
seemed no likelihood that new fields
would add materially to output. In
spite of this. stocks of crude are only
slightly under those of year ago,
while daily production continued to
hover close 10 the 1000. 000-barre!
mark. Kerosene and fuel oil strength
ened in the late weeks of the year and
some crude grades We're advanced.
Crude stocks, which have hung
heavily over the market for a long
time, We're drawn upon in some
months. which improved the position,
but California crude stocks continued
very heavy and production there still
is large. II was profitable to ship
California fuel oil and gasoline East
and this hurt midcontinent producers.
There is no doubt that oyerproduCtion
Of gasoline is responsible for many
of the troubles of the petroleum in
dustry. Gasoline prices fluctuated
rather widely during the year in vari-
Gus sections and competition was
keen.
For the first three quarters of the
year crude oil productions totaled
500, $40, 600 barrels and consumption
495, $50 600. There were II $50 pro
ducing wells completed. Gasoline pro-
duction was S,07S,1oo,O00 gallons.
The deeper sands III already ex
plotted territory added materially TO
total output.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-31
RAION.

Throughout much Of 1925 rayOn
manufacturers had more than they
could do to supply old customers and
were forced in some instances TO turn
down new orders. In the late months
production came closer TO cOnsump-
ton, and first quarter prices of 1926
have been established at the same
level as last-quarter quotations OF
1925
Local mills are preparing to make
extensive additions and add equip
ment. but. even with foreign produc-
ers cutting prices, demand promises
TO be heavy enough throughout the
next few months TO absorb the in
crease. Practically all the principal
manufacturers ran their plants at ca
paCity throughout the year.
Goods manufacturers have fairly
heavy stocks of finished rayon tex
tiles on hand, and there has been a
slight lull in demand. but most man
ufacturers believe this trend only tenn
porary. The total amount of rayOn
produced this year ran between So
100000 and 55,000,000 pounds, and
next year is expected to reach 10 ,00G,-
600 to 10000 900. These figures com
pare with $3.50 900 pounds in 1924.