davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-18
STEEL AND MOTORS
AGAIN SET RECORDS
~ --------------
Other Industrials Sweep For
/ ward Under Their
!. Leadership.

BY the Associated Press.
NEW YORK, July l7.--.Bullish en-.
Nhusiasm in the stock market was
stirred up afresh today a. U. S. Steel
end General Motors. the two outstand.
Ang leaders. SCARED to record high
Nevels. Other industrial shares swept
forward at q rapid pace. with nu-
tnerous gains of to points recorded
On a turnover OF nearly a million
shares.
Confidence in the business outlook
was UNNECESSARILY strengthened by
optimistic statements from Secretary
Mellon and other financial leaders and
the reports Of widespread improve
ment In trade at time when recess
Gions might be normally expected. The
failure Of the Western railroads to OBJ.
tain an increase in freight rates was
ignored as market factor.
U. S. Steel reached new high ground
ut las and General Motors at 1853. with
the buying movement also embracing
such representative issues as General
Electric. Mack Trucks, Du Point.
Dodge Motors, International Harves.
ter, American Can, Gulf States Steel
and u. S. Cast Iron Pipe. The Gus.
tomary week end profit-taking made
its appearance before the close. re-
ducing the extreme gains. but leaving
prices substantially higher for the
day. The closing quotation of 14SA
on u. 8. Steel represented fractional
net advance. while General Motors
closed S% points higher. at 1888
Refusal of the Interstate Commerce
Commission to grant the Western rail-
roads a horizontal increase in freight
rates placed a damper on most OF the
carrier stocks, but its influence was
counteracted by the generally satisfac-
tory state of the transportation In
dustry. A few issues in this group
developed independent strength. Pere
Marquette preferred jumped 5 points
to q new high and other Van Swer-
ingen stocks were strengthened by the
Pere Marquette's acceptance OF the
revised nickel plate merger plan. New
Haven reached a new top price Tor
the year.
The unexpected breakdown OF ne
ROTATIONS for the sale of the White
star Line to British shipping inter.
ests accounted for the weakness OF
international Mercantile Marine pre-
ferred, which closed more than point
lower.
Commodity prices continued to move
forward. July wheat advanced a cent
A bushel on unfavorable reports re-
garding the Sprng wheat crop, while
cotton gained to 4 points on the
weeks evening-up operations.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-18
CHICAGO LIVE STOCK MARKET

CHICAGO, July II Omitted States
Department of Neutrality-suspicious.
received 1000; light hogs gener-
ally, Is to 25 lower; others weak to 10
lower than yesterdays average; pigs
in narrow demand, sharing light hog
/, decline; bulk desirable. 100 to 21O
pound average, 14.00a14.20; top, 14.25
weight, 12.S0a13.55: bulk packing sows.
IL .00a11. so; few light weight to ship
pers onward to 1855 and above; bulk
slaughter pigs, 13.75a14.00; shippers,
1900: estimated hold-over 1000;
heavyweight hogs. 12,60a13.70: me.
dunn, 13,30a14.20; light. 13.60a14.26;
Hight light, 13.65a14.25: packing sows.
10.75a11.75; slaughter pigs, 1S.7Oa14.10.
Cattle-Receipts 5000, compared
week ago, natured fed steer grassers.
stockers, feeders and bulls mostly SO
lower; spots Is OF on low quality
heavy fed steers and grassy offerings;
good and choice yearlings most active;
around % lower: weighty steels closed
dull at decline: top yearlings, 1880;
weighty steers, 1923; practical top
heavies late, 1000. fat cows, so to
7S lower: grassy kinds showing maxi.
mum decline: heifers, so to 100 lower;
cutters and low cutters, % to 80 on;
vealers, so to 100 lower. Weeks
bulk prices follow: Fed steers, S.75a
1915; fat cows, 6.50a6.75; heifers.
7.60a9.75; cutters and low cutters,
4O0a4.50; veal calves, 12.00a1S.00;
stockers and feeders. 6.00a7.50.
Sheep--Reoeipts 1000, practically
none on sale, for week $500 direct and
13S doubles from feeding stations; fat
lambs, Is to so lower; Gull natives
and feeder lambs around 80 lower;
sheep steady to strong. Weeks top:
Fat Western lambs, 1910; native,
1425: fat yearling wethers. 1900;
fat ewes, 100; bulk fat range lambs.
1l.00a14.25; native lambs, 1S.60a1S.75;
Gull natives, 10.0ea11.O0; fat ewes,
B.O0a6.50; feeder lambs. 1s.50alt.00.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-18
WALL STREET BRIEFS

NEW YORK, July II LF1--Earnr
ings of the MacKay companies are
running well ahead of last year, said
Clarence MacKay, president. on ms
departure for Europe today. NO
cable expansions are contemplated
for the immediate future. General
business in the country looks good
and i expect 1t to continue good, ne
added.
"AII rubber companies have passed
the worst portion of their year and
from the general outlook. ! expect
the tire business to be as good from
now on as it was last year" said b. q.
Work, president and chairman OF the
B. F. Goodrich CO., sailing for
Europe. Most companies are using
crude rubber that is steadily declin-
ing in price. do not look for addi-
tional price cuts.
Youngstown Sheet and Tube Co. is
scheduled to increase production 5 per
cent next week to an average rate
of between IS and so per cent. Other
operations in the district are un-
changed.
Southern California Edison Co. has
ordered from the Westinghouse Elec-
trio ana MANUFACTURING 20. TWO OF the
largest horizontal water-wheel genera
tors ever built.
The departure of J. p. Morgan for
Europe today was said by Charles
Steel, partner In the. firm. who ac-
companied him, to be in no connection
with the sale Of the White Star Line,
negotiations for which have broken
down.
Shipments Of refined copper for do
nestle and export use during the first
six months this year exceed produc-
ton by $685. tons, making possible
a further reduction Of stocks on hand,
which have fallen from 138,434 tons
at the end Of 1924 to 66,096 tons on
June so, 1926, says q review OF the
industry by Dominick and Dominick,
members of the New York Stock Elk
change. Excess OF shipments over
production took place despite the fact
that production for the first half of
1926 was 41,000 tons greater than In
the same period last year. The in
dustry is facing a demand that in.
creases even more rapidly than the
output"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-18
BY j. C ROYLE.

SpDclAi Dispatch 10 The star. n. Ba
NEW york. July iT.-Profits lof
virtually ell the leading steel COM
panies In the United States were
higher In the last six months than
In the corresponding period OF 1925.
Reports for the period. although not
yet complete. have made this faRt
certain. fs
Since steel prices have averaged
lower than In 1925, these profits have
come from increased volume of bust.
ness and more important still from
more economic methodist production
and distribution.
Steel lngot production has been
nearly 8.5 per cent higher than Id the
first half OF last year, and economies
RESULTING from d high rate OF mairte-
nance were pronounced. 1t Is aiatici'
pated In some quarters that when the
United States Steel Corporation com.
piles its figures for the second quarter
they VIII show as much as So q share
earned on the common stock In the
first half of the year, a. compared
with s6 reported q year ago.
big Cost Reduction,
Some idea OF the possibilities which
have been seized for scOat reduction
may be gained from recent record
breaking performances In Ohio. One
day last week stack A Of the Cleveland
furnace OF the American Steel 4
Wire Co. produced 9s6 tons Of pig iron
from straight ore burden. That means
no scrap was used. This rate com'
paros with q stack In the ShOen.
berger group In Pittsburgh IN lsS6,
which established what was then a
remarkable record by prOducing 22h
tons OF pig q day for three years,
The amount OF iron ore now be
ing mined and moved indicates the
confidence steel men have In the stu.
alton. The movement Of iron ore from
the Lake Superior district in July
is expected 10 total io.oo0.0o0 gross
tons. Only thrice In the history Of
the region have July shipments ex'
ceeded that figure. The record move.
ment was In 1928, when 10.6OO.0Oo
tons were transported.
The activity Ia due to efforts 70
make up for the late start which the
ore movement got on the lakes thia
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-18
FURNITURE TRADE GOOD.
Labor Well Enpioyed-Produ
ID Kept About Even.

Conditions IN the furniture indus
try are regarded as satisfactory. with
most factories maintaining fair
schedules and labor well employed
Production, as a whole. has kept even
during the last six months. ana IN
some items shows an increase over
the output for the comparative period
Of 1926. Retailers remain coneersa'
tive in their purchases, according
To special reports to Duns Review.
While recorders are the rule, they are
fairly frequent.
Although Individual buying has not
been large, total distribution OF furni'
ture has been well up TO expectations.
with some concerns reporting good IN
creases over last years record. THIS
trade. like many others. was handi'
capped /. all Spring by unfayora0ie
weather, which prevented merchants
from turning their stock 30 rapidly
a. usual Business In farming com
munities has been slow. owing to the
lateness Of the planting season. and
conditions I'm bituminOus mining ais
tricts continue unsettled.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-18
SEES HIGH HOG PRICES.

Relatively high hog prices win con.
tirue this summer and Fall, but there
win be d slight failing on next Win
ter, the Department Of Agriculture
predicted today IN it, hog outlook
report 81 # Is
4 .Tf seems likely. Z the report stated.
that with continued fairly active
domestic demand, and with indicated
hog suppl lies, plus storage stocks. no
iarSer ard probably somewhat smaller
fhaY last year, hog prices this Sum.
I,1er ana Fall will be maintained az
about the levels Of the same period
last year. MI Il III s #
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-18
TRADING IS NERVOUS
IN WHEAT MARKET
Close l. Unchanged to ! Cent Above
Fridays Close Weather News
Has Some Eject.
By the AslsOclated Press.

eeN~~ /, +
CHICAGO, July 17.-Reports Of
enlarged crop damage in the North
west. together with persistent abb
sence OF general rains, dominated
the wheat market today. despite heavy
selling 10 realize profits. Closing quo
tations on wheat were nervous AZ
the same as yesterdays hnish TO
cent higher, with corn varying from
q cent decline to * advances. oats
unchanged to 4 cent up. and pro-
visions varying from ~ cents on TO
a rise OF . cents.
Rapid fluctuations Characteristic Of
q weather market were the rule today
In the wheat trade. but broadly the
trend continued upward. For the
most part. spectators appeared Dun.
ish. although unwilling 70 'risK 2 a., ~.
termined stand for large profits. The
many strengthening factors in the
Northwestern crop situation were
more or less counterbalanced by I'M
certainty over the price effect OF q
much Increased movement OF new
wheat looked for next week from
the Middle West. Expectations are
that receipts here on Monday viii
total 400 cars, and that arrivals be-
fore the end Of the week will be rap
idly augmented.
Traders watching the crop reports
from the Northwest today took par
ticular notice OF one which said that
in the premier Spring wheat State
North Dakota, the wheat crop Tor
nearly 200 miles south Of The center
Of the state ID ranging from very
moor to failure. with the north half
Varying from poor to good. Aban.
doned wheat fields In North Dakota,
according to q recognized authority
will probably total 100000 acres.
Included among Canadian advicee
was word that between Edmonton
and Calgary and for 100 miles nortn'
east of Calgary the crop IL badly nrea.
Corn and oats were responsive to
dry weather reports from the Dar
kotas. Minnesota, Iowa and Nebraska.
Provisions reflected weakness OF
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-18
COTTON GOODS ACTIVE.
Broader Buying Noted in Market
Yarn Prices Firmer.

NEW YORK, July III tJP9.rc Cotton
goods trading Tor the week was better
than for several months past, and was
characterized by broader purchasing.
Goods wanted by the manufacturing
trades were placed under contract In
q moderate way. Cloths wanted by
umbrella, window shade, harvester
machinery, bag and other factories
have been traded In quite freely, COM
pared with recent operations. Yarns
were nrmer. The market for trOpi.
cal weights OF mems wear for Spring.
1927. appears to have been unsettled
by. the low prices Of the largest pro.
Queer and there has been general
downward price revision on Q highly
competitive basis by Independent pro-
ducers. Sales by the largest factories
are reported a. enninentiy satisfactory
thus far. Linens were in better de.
mand. Buriaps held steadier and are
still being bought in moderate vol
uTne. Raw silk declined from to 10
cents q pound In the local markets.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-18
CoNGoIEUM INCOME.

NEW YORK, July IL CPlCongo.
leum. Nairn and immediate subsid-
isr.ies report net income Of 81, S33, 80
for the half or 1926 equals Q per cent
hrst preferred dividend to 81 cents q
e6are on tire common against &s,776..
en-, Oh Si.ss 3 share In the drst half
AZ 1875.
Evening star., 1926-02-02
CHICAGO LIVE STOCK MARKET

CHICAGO, February United
States Department of Agriculture)-
IIogs-Receipts. $4,000 head; irregu-
lar: medium and heavyweight butch
ers steady to strong; spots. 10 higher:
lighter weight slow: mostly 10 to %
lower than Mondays best prices:
shipping demand moderate: bulk go
To 900 pound butchers. I25Oa12 SO:
ma jority 200 TO 30 pound weights
IL l2.9Oa13.30: bulk better grades, 100
pounds down. 13.25a13.J5: top on all
weights. 1850; packing SOws mostly
II tl.20a11.A5: few choice killing pigs
up TO 1870; heavyweight hogs, 12.25a
i2.90; medium, l2.00a 40: light
i2.30al3.50: light lights. l2.l5alS. so;
packing sows. l1,00a1l.65 slaughter
pigs, 1325al3.15.
Cattle-Receipts. Il 900 head: fat
steers traded dun: about steady with
Mondays average market. quality
very plain. most steers SJ0a o 90.
best yearlines. l1.25; heavies. 1880;
medium weight, HOO; meaty feeders,
weak to recent decline: largely steady
on other classes: yealers steady to
strong: spots higher on choice ship
ping kind: bulk vealers to packers.
! 00al2 90: others. 13.00a14.0O.
Sheep-ReCeipts. $4,000 head: ia /
lambs opening slow. feW early sales
:" city butchers and shippers around
- lower: choice handyWeight lambs.
l475; few early sales desirable wear
lings wethers steady AT 12.7oa13.25.
these also on shipping account: few
loads feeding lambs early weak to
d lower at 14.5Oa14.75: odd lots fat
aged sheep steady: most fat ewes
S2oa9.00: aged wetherS. 1880; me
dunn weight wear -olds, 11.15
Evening star., 1926-02-02
IN WHEAT
DIFFICULT TO HOLD
Absence of Export Demand Works
Against Higher Values in
Days Market.

CHICAGO. February 2-Tnexpect-
ed upturns in quotations at Liverpool
and at Winnipeg. together with wet
weather in Argentina. carried wheat
values higher here today during the
nrst part of Board of Trade sessions.
IL was generally assumed that the
rains In Argentina would delay the
crop movements there. On the other
hand apparent absence Of export de
lnand for North American wheat tend
cd 10 make price gains difficult To up
hold. Chicago opening figures J.. to
4 higher: May new. 1.75i4 to I765s
ana July, l.53"s to l.54. were followed
by numerous fluctuations within a
range or about J cent.
Corn and oats We're easy Influenced
ny large stocks in sight and by deart II
OF any pressing commercial demands
After opening ls off to Il IN May,
S3's. the corn market underwent
moderate general sag.
oats started unchanged TO !. high
er, May, 42l4 To 42"s. Later the mar.
ket showed declines.
Ibrny-iGinp,S
Evening star., 1926-02-02
NEW POWER MERGER
REPORTED IN IVES /

NEN YORK, February OP).-'r..
Standard Gas & Electric GO. a..
urnuonced the acquisition of q cal.
trolling stock interest in the C,if-
fOrnIa Oregon Power Co. and tn.
Wisconsin Public Service Corpora
ton. Both companies hereafter will
he operated as a part of the Standard
|as and electric system. The pur-
chase Will be financed later this
week by Il public offering of s77.50n.
600 23-year i per cent debenture>
nf the Standard Gas & Electric Co
which have been underwritten by
group headed by II. NJ. Byllesby :
Co.
Evening star., 1926-02-02
FOREIGN EXCHANGE,
quotations furnished by W. B. Hibhs & Coz

NEW YORK. February GP).-
Foreign exchanges steady. Quotations
lin cents): Great Britain. demand.
4S6: cables. 1862; 60-day bills on
banks. 4S2. France. demand. 3.74la*
cables. 3.15. Italy. demand 4Oll,:
cables. 4.0l1a. Demand-Belsium
4.5412; Germany. $3.50; Holland. 4O.11:
Norway, 20.34: Sweden. % 16: Den
mark, 24.66: Switzerland. 1925: Spain.
14.13: Greece. LAB; Poland. 1915:
Czechoslovakia, 2.96: Jugoslayia. In:
Austria. IA: Rumania. AL: Argen
tina. 41.3s: Brazil. 14.75: Toxic.
A 1916; Shanghai. 15"s: Montreal.
90 51-64
Evening star., 1926-02-02
MARKET CLOSES STRONG.
Motors and Rubber Shares Leaders i'm
Last Hour

NEW YORK. Febraury LP).-The
closing was strong. Motor and rub
her shares captured the favor of buy
ers in the final hour and prices were
whipped up to the pace set earlier
by the public utilities and specialties.
Canadian Pacific extended its gain
more than points to 159. the highest
since 1919. and advances of 4 10 6Io
points included Mack Trucks, Ameri
can Ice and United Fruit. Total
81 les approximated 400 900 shares
Evening star., 1926-02-02
MISSISSIPPFS LAND
BOOM Is THRIVING

Special Dispatch 70 The Star.
GULFPORT, Miss February =.
Sales of real estate in Harrison
County. which has the largest beach
front Of any Gulf Coast county, totaled
$50 GOO 900 in the last year. accordinc
to revenue stamps affixed 10 deeds az
conveyance. The turnover was nearer
$50 10000, since no stamps are rc
uuired on that part of the considera
ton represented by assumption of eX
listing liens.
Evening star., 1926-02-02
Markets at a Glance

NEW YORK P).-Stocks strong:
public utilities resume advance. Bonds
irregular: several rail issues advance
Foreign exchanges steady; sterling
holds near par. Cotton quiet: spot
houses selling. Sugar featureless
Coffee higher; steady Brazilian mar
ket.
CHICAGO-Wheat higher: rains in
Argentina. Corn steady: sympathy
with wheat. Cattle steady. Hogs
firm: moderate shipping demand
Evening star., 1926-02-02
More Business
Failures Noted
During January
BY the Associated Press.

NEW YORK, February 2.-Busi-
ness failures in the United states
In January reported to r. G. Dun
Co. totaled 2,296, with liabilities
OF 1861 ,444. compared with 2.137
IN January, 1925, and liabilities of
o4,354, ,032. Defaults in December
numbered 1873, with liabilities Of
$36,528,16O
Evening star., 1926-02-02
NEW YORK METAL MARKET,

NEW YORK. February > LP).-Cop-
per steady; electrolytic spot and fu-
lures. 14a141s. Tin steady: spot and
nearby, 500: futures, 6l.31. Iron
:, ready; prices unchanged Lead
steady: spot. 9.25. Zinc steady: East
-. Louis. spot, $40; futures. S.O5a
SO. Antimony, spot. 220O
Evening star., 1926-02-02

Stockholders of the McCord Manu-
facturinG Co. have approved an issue
Of 1880 shares of preferred "A"
stock. 800 par, and 1920 shares Of
debenture stock. no par, which will
he exchanged for the present out
standing preferred aud accrued divi-
HcndS
Evening star., 1926-02-02
NEW YORK FLOUR PRICES.

NEW YORK. February > (P).-FIour
Quiet; soft Winter straights, S.40a
900. Rye-Easy; No. Western, ISL
f. o. b. New York and 1.l61a C. j. f.
export.
I.ard-Easier Middle West. 15.5oa
1850. Other articles We're unchanged.
Evening star., 1926-02-02
LIVE POULTRY STEADY,

CHICAGO. February P-Poul-
t1N-Steady; receipts, ) cars; prices
unchanged.
Evening star., 1926-02-02
BUTTER HIGHER TODAY.

CHICAGO. February GP-Butter-
Higher; receipts. 12,020 tubs: creamery
extras, 40; standards, 45a4514: extra
firsts, 43l2a44; flrsts, Al l2a42i2; sec
onds, 39a41.
Eggs-Lower: receipts. 1915 cases;
ffrsts, 81 -. ordinary firStS, 80.
Evening star., 1926-02-02
INVESTMENT B0NDS'
IN STRONG DEMAND.
Treasury d LIS Reach New
High for Year-Buying in
fractions Renewed.
BY GEORGE T. HUGHES.
Dispatch to The star

sr' cia' Dispatch to The star.
NEW YORK. February 2...Demand
for investment bonds was still strong
today. but trading was not very active.
The high grade savings bank rail
road mortgages are in scant supply,
very few blocks of any size coming
into the market. Whenever they do,
they are quickly taken, but buyers
who invest in legal bonds are too
wary to bid up prices on themselves.
The only issue in this group which
showed any great activity today was
Union Pacific As.
The United States Government list,
Treasury AZ s in particular. We're the
feature. making a new high for the
year. Significantly enough. this is the
Ionsest term and so least affected by
temporary changes in the money mar
Evening star., 1926-02-02
fractions Again Active.

Speculative attention was again con
fined to the local fractions. Third Ave
nue. adjustments. which had reacted
Monday following their spectacular
advance late last week, resumed the
forward movement today. recross-
ing 60.
There Was a jump Of two points in
New York, Susquehanna K Western
general 5s from 20. Mondays close,
10 Il. which was a new high not only
for this month. but for last year and
the year before as well. The low
price at which the bond has sold 50
long is eXplainable on the poor earn
ing record ot the road in late years.
ON the basis Of the first II months of
1928 less than 90 per cent of fixed
charges was earned.
Sinclair 6S led the oil group. going
up with the stock. There were no
important changes in the sugar is
sues, which still sell on a high yield
basis, notwithSta nding the more opti-
mustic attitude toward sugar stocks.
Announcement was made of the
sale of S1,100, 900 in st. Louis. san
Francisco AZ per cent equipment
trust certificates
Evening star., 1926-02-02
GRAIN AND PROVISIONS

BALTIMORE. February . iSpe.
ciaD.-White potatoes. 100 pounds,
2.0Ga4.50; beans. bushel. G00a 90
BRUSSELS sprouts. quart. 1Oa20' beets.
bu&hel. 2.5oa2.1J: cabbage. ton. 4o.0Oa
'o.oo; sweet potatoes. barrel. 200a5. 50:
vans. barrel. 2.0Ua3.25: carrots. 100.
5.Coa0.o0: caulifiower. crate 225ao 30.
ceIefE' crate. l.50a4.00: cucumbers.
tiale. . o.ooa 900: kale. bushel. 40a5o:
lettuce. basket. l5Ga2 30: onions. 100
bounds. 2.5ea3.00: oyster plant. 100.
e-ooaS.oO: eggplant, crate 40OaG 90:
tomatoes. crate. 3.ooa7.o0. spinach.
puShei. l.Goal.11. savoy cabbage.
pusheI: 50a1I.
Apples. barrel 15ea6 50. lusNcI IN
Evening star., 1926-02-02
Trading on Local Board.

The Washington Stock Exchange
was without feature today. the mar
ket remaining narrow. with light vol
ume and a softening Of prices in ce:-
tain issues.
Potomac Electric Power preferred
eased off 10 l07l4, with Lanston sell
ing fractionally lower at S4a4 on rela-
lively heavy sales. Capital Traction
was strong at 1852, as was Railway
preferred at 9lis. after lower open
ing. Merchants Transfer & Storage
common brought 1913. and Gas sold a.
49,.