davidaulloa/AmericanStories huggingface dataset:
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-07-09
Wall Street Briefs

is calculated at 3,750,653 tons by the
American Iron and Steel Institute,
the smallest monthly volume this
year, but 546,202 tons more than in
June, 1925. This brought the output
for the half year to 24.2G0,537 tons,
compared with 22.3S3,071 tons in the
first half Of 1925.
Wall Street is showing interest IN
the meeting of directors of the Re-
public Iron and Steel on July 81
when it is expected the question of
resumption of dividends on the COM
mon stock will be decided No de-
cision has been reached, it is said,
whether a dividend will be paid at
this time, but in the event of such
action an annual rate of 81 is anti
clpated. The company's floating
debt of S4.000,000 on the 1925 balance
sheet has been wiped out.
Net income of the American In
ternational Corporation for the sec
ond quarter amounted to s3T5,S79,
making net for the first half of the
year $3i9,Sa5. equal to S19S a share
against $1,06O,240 or s212 a share in
the first half of 1925.
Governors of the New York Fed
eral Reserve bank made no change
today in its prevailing 3 IL percent
rediscount rate.
The railroads are making lot of
money AID are in excellent condition
and If crop returns are good there
should be heavy buying of equipment
this summer and fall, says William
Fl. Woodin. president of American
Car and Foundry Company. He sad
American Locomotive Company, of
which he is chairman, was earning
more than its common dividend.
June sales of S. S. Kresge and
Company amounting to s3,S07,15o,
gain of 1873 percent over June last
year, brought the total for the first
half of 1926 to S21,6SS,113 against
S19,240,31l year ago.
Pan American Petroleum and
Transport Company has completed
-FOUR important wells in Mexico. In
the northern field, Vhijol number SO
came in at 5000 barrels ~and East
Dicha number 104. at 10000 barrels
day. In the southern light oil
field TERRA Blanca number 81 came
i'll at 10000 barrels, While Cerro Azul
number 10 had an initial flow of
1000 barrels a day and 30,000000
cubic feet of gas. The four will not
be operated at present but will be
neld in reserve.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-07-09

Canadian schooner Sumner, an
chored on Boston's Rum Row. seized
by Coast Guard.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-07-09
New York Stock Market
Corrected c

Corrected Daily by
j.. A. GAMAGE & co.
STOCK BROKERS
'so water Street Augusta
Phones 129t-1292
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-07-09
FINANCIAL NEWS

SSelglum, demand 2.@4A
GIermany, demand 2S.s9
MHoIiand, demand 40.I2.
SSorway, demand PISS.
SWeden,. demand 26'79s.
denmark, demand 2s.4e
SnM.iit1eriand, demand 1885.
SPAIN demand 1890.
greece. demand 1.23.
Toland, demand 1000.
TGneoho7 siovakia, demand e.es
Auus stri demand LIZA.
pun, demand 14,12a.
Ahumania, demand .47a.
Rr sentlna, demand 40.43s.
Brazll, demand 1915.
Toxic, demand 46.9Ss.
sSii a hal' demand 72.56t.
paoittreai, demand 100.1O 1915.
1OfJnEnl Os
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-07-09

Strike leaders predicted power
house employees would join striking
New York subway motormen tomor-
row.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-07-09

Chicago. July s.-(Pl-A truck left
Paw Paw. Mich, few days ago with
four barrels of grape juice. Now four
barrels of grape wine are in possession
of federal authorities here. The
driver blamed the hot weather fer the
change.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-07-09

Governors of the New York Fed
eral Reserve bank made no change
today in its prevailing IL percent
rediscount rate.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1926-07-09

juno sales of S. S. Kresge and
Company amounting to s3,S07,15o, a
gain of 1873 percent over June last
year, brought the total for the first
half of 1926 to S21,6SS,113 against
$19,240,31l year ago.
Evening star., 1926-05-19
WHEAT PRICES POINT
UPWARD ON WEATHER
Changed Outlook Abroad Another
Factor in Advancing Values in
Market Here.
BY the Associated Press

CHICAGO, MAY 10. With fresh
complaints OF dry weather in the
Northwest and with Winnipeg reports
current that European interests were
buying deferred deliveries of wheat on
every break in price. the wheat mar
ket here showed a decided upward
trend today. After opening unchanged
10 ll2 advance the market continued
10 point higher. Corn and oats sym
pathiZed with wheat, corn starting un-
changed TO IS off and later making
gains. Provisions also We're firmer.
The fact that the United States
visible supply of wheat is now lower
than at any similar date in 80 years.
barring only 1918 and 1921. attracted
notice today, as partly explaining an
upward tendency of values OffSetting
influences mentioned We're liberal sup
plies in Canada and European tinan-
cial difficulties a 6 we'll as the Outlooi,
for an exceptional early beginning oi
harvest III the United states
By some authorities the most i'm
portant new development regarding
the wheat market is the changed crop
outlook in Europe. Transatlantic crop
adVices today continued to be pessi
p1iStip
Evening star., 1926-05-19
MAINTAINED
IN BOND MARKET
Best.grade Issues Make No
Great Advances, But
Level Is High.
BY GEORGE L. HUGHES.

Special Dispatch TO The Star.
NEW YORK. May 19.--Prices were
we'll maintained in the bond market
today. The only exception was In
the foreign list where, from time TO
time. weakness appeared.
High grade domestic issues did not
make much of an advance, but that
was hardly to be expected with the
market at its present high lever.
There were. however, one or TWO
features, one of them Consumers
Power SIS OF 1862. which sold up to
within fraction of its record high,
and another Albany & Susquehanna
31ss. an inactive issue. which made
a new high. Federal Light & Trac'
ton 6s was another public utility in
favor
General Petroleum 6s again were
the leaders of the oil group. They
sold today above 101 for the first
time, rejecting their new status as an
assuming obligation of Standard OH
Co. Of New York. Other oil obliRa-
tions We're firm. In contrast the
sugar issues We're heavy. The Warn
vance of the day before. Cuban Cane
SIS at 96as were at new 1926 low.
There was better support for Punta
Allegro is.
The feature of the specula tive rails
was Chicago and Alton 312s, which
continued their rise to a new high
point. The Street now believes that
these bonds either will be undis-
turbed in reorganization or will re
Ceive favorable treatment. New
Haven convertible 6s moved up frac
tionally and SO did New York,
Westchester and Boston 4ias. There
was good demand for the Erie
junior bonds.
In the foreign group. Belgian and
Italian descriptions were heavy.
French SIS sold below 101, and Paris
Lyons and Mediterranean IS dropped
a point. Italian 1s at 8Sa4 We're only
a quarter of point above the eX-
treme low made following the disso-
luton Of the syndicate. Poland ss
dropped below "a again.
In contrast to these unfavorab Die
movements in European issues was
the firmness manifest in the South
American group. Montevideo IS
sold above par at record nigh fol
all time. New financing for account
OF the Brazilian government is eA-
pected late this week or early next
The issue will probably carry a 6l2
per cent coupon and be for $50,
000. 900
The most important new offerln2
today was 81, 500 900 additional Cen
tral Maine Power 5s of 1855 at par
Evening star., 1926-05-19
LOWER POWER RATES
ASKED ON EASTERN SHORE
Chestertown and Stockton Plants
File New Charges With Public
Service Body of Maryland.
sneclal Dispatch TO The star

SPECIAL Dispatch TO Inc star
BALTIMORE, May 19,-New power
rates substantially below existing
lighting charges have been filed Will,
the Public Service Commission by TWO
electric power companies operating
on the Eastern Shore.
The 4,hestertoWn Light and Power
Co submitted d new rate for cooking
and heatin" by electricity. the charges
being So gross and cents net per
kilowatt hour. The primary rate at
ChestertoNn is Is cents.
The Stockton Electric Light Plant
at Stockton. WorChester County, sub
mitted a new power rate of cents
per kilowatt hour. The Stockton pri
mary rate for lighting is 20 cents,
Commission officials were Informed
that the Stockton company plans TO
furnish power to a number of indus
trial concerns in Virginia.
Evening star., 1926-05-19
PRICES ARE LOWER
|NSTOCK MARKET
No New Desire to Buy Seen in
Trading Today-HudSon
Motors Rallies.
BY STUART p. WEST.
Special Dispatch to The star.

Special Dispatch to The star.
NEW YORK, May 19.-With the
exception of some of the motor stocks
in which short covering carried prices
higher, the greater part OF the snare
list today Was either unchanged or
somewhat lower. There was no pres
s,,re to sell. any more than there had
been for the last fortnight or more
But it was equally plain that there
was no new desire to buy.
The marke; got nothing inspiring
our of the steel trade report. when
emphasized the fac; that steel mlli
, oDerations have been reduced ara are
likely to be still further curtallea
during the coming month Uniteo
States Steel common at one time was
off nearly a point. The independent
steel shares acted similarly.
Tnfavorable Motor News.
Except in one or tWo instances Uil.
official reports regarding the status oil
rhe autonobile companies We're any
thing but favorable. But stocks IKE
Hudson Motors and General MotorS
rallied because there We're a lot OF
shorts who were willing To buy as
soon as they SAW that no fresh hqultia
Gation was coming in. liudSoN WIS
especiallv strong in the aitefhoo"'
E1I,nerous new low rctoruS lvl tiie
vear we're made. United states ttup-
he,, around 30 was off some 3S polhI9
frop, tho ron. The enthusiastic lalk
eh0ut this stock WhlCn was laSlllo-t e.
able three months ago. now mas pretty
1eu diSanpeared. White Motors al louiu
Il was down nearly 40 points from
where il was selling in the early parc
az The wear. Montgomery Ward at 90
,,.,S standing at new low for l92b, ana
ca was United States Cast Iron ripe.
%orth American at 45 was down 81
noints from its best figure last year
Sugar Stock Breaks.
South Porto Rico Sugar bfoNe =
nojnts from the previous sale. Aiheit-
can Locomotive was off over a point
Vonnestown Sheet and Tube seemed
TO be meeting support around az.
Among the oils. the ADVANCE Wd'
fairly well maintained iii LaSo' ta"
tand1e Producers, in which speclai
hl,1-jnp oneration has recently peei
iniicated crossed 90 as compared
With l9i.' at the close the previous
day. .bo ,in,a
Pierce Arrow stock most OF the ilil'e
was somewhat lower. The new Amell-
can can was obviously offering resist
.+nce around A.. General Asphah came
,In,yn over ? point. WooiWorth mace
= new low Mack Trucks went IHto II II
- series OF varying changes. decHilhS
ar the start and later raliNlhS'
Evening star., 1926-05-19
POTATO MARKET STEADY.

CHICAGO. May 19 OP).-Potatoes
receipts. 90 cars: total t. ;, snip
ments 500: IS Bermuda; on track 2l2'
old stocks trading fair, market ABOUT
steady: Wisconsin. sacked fouhd
whites. 2.50a3.00. according 10 quaI-
jtv: Minnesota. sacked, round Whlles'
2.25a275: Idaho. sacked, russetS' 7.oo
a3.25: sacked rurals. 3.o0a3: lo; new
STOCK weak: Louisiana and Texas,
sacked. Bliss Triumphs, 6.00a6.20;
Florida. barrels, Spalding Rose NO J.
10 50a u. %.
Evening star., 1926-05-19
STEEL SHEET SALES.

NEW YORK, May 19 P)-April
sales of steel sheets are estimated at
249.866 tons by the National Asso-
citation of Sheet and Tin Plate Manu-,
facturers against 304.233 tons in
March and 1S1.10l In February Out
put was 294,S ,Sll tons, against 3l9.1S2
in March and 299,553 tons in
February.
Evening star., 1926-05-19
FOREIGN EXCHANGE.
Quotations furnished by W B. Hibbs & Co
Sia.I1; L..

NEW YORK, May 10 CP).-Foreign
exchanges irregular: quotations lin
cents) Great Britain, demand. 485
1916: cables, 4S7 7l6; 60-day bills on
banks. 1925. France, demand, 2.85;
ca bles, 2.S5la. Italy. demand. $50;
cables, 3.92.
Sweden 2675; Denmark. 26.261a
Switzerland. 19.3412 Spain, 14.43;
Greece. 133: Poland, 900: Czecho-
slovakia, 2.96; Jugoslavia, 176l2
Austria, 14.125; Rumania. 3634
Argentina, 4O.125; Brazil. 14.75; Toxic.
47.0614: Shanghai. 1900; Montreal.
100031s.
Evening star., 1926-05-19
COTTON ADVANCES
IN NT0DAY'STR
Rain in Southwest Leads to
Covering-PriCeS Are II
to Is Points Higher.
By the Associated Press.

oy tHe Associated PFese.
NEW YORK. May l9--Cotton flu
lures opened firm; July, 1927; Oc-
tober. 1881; December. 1850; Janu-
ary. 1916, bid; March. 1883. Re
ports of rain in the Southwest led to
covering by recent sellers and prob
ably some fresh buying in the cotton
market early today. Liverpool had
the Texas rain news and advanced
before the local opening, while first
prices here were firm and from . to
ID points higher.
July sold up to 1881 and December
TO 1850, net advance of II to 8
points on active positions. The price
attracted realizing. which was ab-
sorbed on slight setbacks. and the
market was within or points of
the best at the end of the first hour.
Private cables said there had been
trade calling with local and conti-
mental buying on the rains in Texas
and also reported encouraging cloth
trade advices from India.
New Orleans Quotations.
NEW ORLEANS. May 10 CP)-
Cotton futures opened steady; May,
1913; July, 1852; October, 1925:
December, 1923; January G927)
1923. The market was firm today.
with Liverpool higher than due and
early advices indicating rains in the
western and central portions Of the
belt. First trades showed gains Of
16 TO IS points. The initial prices
proved 10 be the highs for the time
being, as the market eased off to
1856 for July, 1920 for October and
l7.l8 for December, or to 9 points
under the opening, mainly on realiZ =
ing. The weather map confirmed the
reports Of rain, and prices soon ral-
lied within points of the initial
highs. The weather was the dominat-
ing influence in the market.
Evening star., 1926-05-19
Markets at a Glance

\t,N YORK LP) Stocks heavy;
vo,.in,ls sDccialties break sharply.
Bonds firm. rail and oil issues higher:
Forejcn exchanges steady. franc and
Ira recover. Cotton higher; general
rains Texus. Sugar steady coinlnis
SION house buying. coffee easy; easier
Brazilian market.
CHICAGO ~ Wheat irregular; pear
tsh weekly weather report. Corn low
ar. favorable crop outlook. Cattle
steady to strong Hogs firm.
Evening star., 1926-05-19
CRUDE OIL ADVANCES.

PITTSBURGH, Pa. May ~ R).--
Two grades of crude oil. quoted on
the market here. were advanced 10
cents a barrel today by leading
purchasing agents. The new prices
were: Corning grade in Buckeye lines.
s2.45; Ragland grade in Cumberland
lines, $l.25.
Evening star., 1926-05-19
WashinQton Stock Exchange

SALES
Washington Rwy. & Elec. $4,000 at
Oh Washington Gas Gs $500 AT. 1o2's
Potomac Eler Pow pfd.--5 at lOl.
Potomac Eier. Pow. ptd lhl. etl.-i ''
'"'s american Security & Trust Co a; 3s4
f'ansion ii Monotype-2 at s6ia.
AFTER CALI"
C,pitaI T-artion $500 at l00Il.
IVaehiup ,of Gas 5s-S500 at 100 u.
washrnsien Gas IS 33-S2oo at l"@
~WashmCton Gas Ltght--10 at 6sS4
II9iGa Tta.' p%y Go2 BE-: 3 90 5fa-5 at saa.
Capital Traction 5~-S2 900 at 100
So 600 at 100.
Money-Call loans. ) and per cent.
Evening star., 1926-05-19
RUBBER HIGHER.

NEW YORK. May 19-Crude rub
ber.~ smoked ribbed sheets. was quot
ed at noon today AT 4Si4 This COM
pares with 47l2 Yesterday. 4S a month
ago and "a Il wear ago.
Evening star., 1926-05-19
BAR SILVER PRICE.

NEW YORK, May 19.-Bar silver
65; Mexican dollars, 49a4.
Evening star., 1926-05-19
Telenllone Stock Offering.

At meeting in Boston today OF
the American Telephone and Ieie-
graph co. directors ii was voted L"
offer 10 stockholders for subscription
at par one share of additional stock
for each shares held. The amount
would be approximately $l54,OOO.Oo"
offered TO about $40 900 stockholders.
The offer is to shareholders of rec
ord June 8. and the average invest
ment would he $500. Notices 10 the
stockholders were mailed today. Pay
ments for the new stock will he
spread over period Of eight months,
from August .. 1926. TO April /. 1922
The purpose of the new issue. II
was announced. was TO provide the
Bell system with funds for new con
struction needed to care for add
tional business resulting from con
stantiy increasing use of telephone
service.
Regular quarterly dividends of S. %
a share were declared today. payable
July Is and October Is. 1926. and Jan
uary Is and April 10. 1927. TO stock
holders of record on June 49, Sep
tember 80 and December 20. 1926. and
March Is. 1927. respectively.
Evening star., 1926-05-19
Ice Company Officials Here.

group of officials from he head
office in New York OF the America
Ice Co. are in Washington today in
specting the company's plants. The
party includes Charles c. Small vice
president: r Pettigrew. treasure
George Lang. superintendent Of all
plants, and Guy Y. Thompson. ensi
neering department. Mr.. Small said
that although the season was back
ward from the iceman's standpoint.
the companys operations are ahead o.
last year. and that profits were re
turned during each OF the Winter
months. lie added that the company
is now manufacturing practically all
its ice. less than / per cent being
the natural product. This has. of
course. been the case in Washington
for many wears
Evening star., 1926-05-19
DEALINGS ACTIVE
ON EXCHANGE HERE
MergenthaIer Fails to Boost
Dividend Rate at Directors
Meeting.
BY EDWARD c. STONE.

Stocks on the Washington Stock
Exchange today maintained a firm
tone in moderately busy session
Two bank stocks were out, five
shares of American Security & Trust
i'll two transactions bringing 3S4
While five shares of Union Trust Go.
stock changed hands at 226. Poto-
mae Electric Power preferred stood
at 101, and the same corporations in
terim certificates sold at 1056s Ian
stOn Monotype recorded one small
sale al 86l2, but there was no trading
in Mergenthaler following Yesterdays
important directors meeting. Wash
ingtOn Gas Light stock sold at 6Sa4
and the last stock sale was turn
over Of five shares OF Wa shington
Railway K Electric preferred al S9a.
practically unchanged from recent
quotations.
In the bond division Washington
aRilway & Electric As sold at 814s
Gas 6s brought 1925 and dropped to
l02; Capital Traction 5s opened az
1901 and closed al par. and Wash
ington Gas 5s were out at 100a4
Bonds were particularly steady, and
all the turnovers were in small lots.
MergenthaIer's Rate Unchanged.
The Mergenthaler Linotype 60. di-
rectorS declared a quarterly dividend
OF $l.20 and 20 cents extra on the new
no-par stock, recently exchanged on
tWo-for-one basis for the old 800 par
STOCK, at meeting held in Brooklyn
Yesterday afternoon. Both dividends
are payable on June 30 to stock Of rec
ord June 9. The dividend declared
yesterday represents no change I'm
rate as the old 800 par value stock
was on a $40 annual basis Many
local stockholders had hoped for az
increase in the disbursement. but the
report shows that the directors did
not see fit TO place the new shares or
q higher dividend basis at this time
II was reported at the meeting that
earnings this year are running about
the same as a year ago, the first seven
months of the fiscal year showing
very satisfactory conditions. The
head of the company reported an ex-
cellent domestic demand and an in
crease in foreign business. The com
pany's annual meeting comes late in
the Fall. so that detailed figures on
earnings are not available at this
time.
Frederick D. McKenney Of this city
is vice president of the company. and
r. j. McQuade, vice president of the
Liberty National Bank. is one OF the
directors. Both attended the meeting
Other directors present included Philin
7. Dodge. Ogden L. Mills. Norma n
Dodge. Ogden VI. Reid. all of New
York, and Albert II. Sawyer Of Bos
ton. As Mergenthaler is one of the
| most active stocks on the Washington
| Stock Exchange the outcome OF the
! meeting was awaited with special IN
| terest here.
Evening star., 1926-05-19
TOday's Financial Notes.

1t is expected that the McFaddeu
bill will come up in the House tomor-
row and that q committee will be
named to confer with a Senate com
mittee and adjust the changes made
in the bill when 1t was taken up IN
the Senate. 1t is now believed that
the joint committee will hold it's first
meeting next Monday. Confidence Is
expressed today that satisfactory
compromises will be reached.
Robert V Fleming. president of the
Riggs Bank. and George o. Vass.
cashier, have returned from New
York, where they went on business In
connection with the bank.
Howard c. Rand. assistant cashier
and manager of the insurance depart
ment of the Central Savings Bank, Is
attending the annual convention OF
the jefferson Standard Life Insurance
Co. at Greensboro. y. &.
The first meeting of the new board
of governors of the local chapter.
American Institute of Banking. will
be held tomorrow at 5:45 in the new
headquarters.
This week the Federal Reserve
Board, in addition to advancing by
five days publication of brokerage
loan figures, has inaugurated the
practice of dividing the figures into
time and demand loans. the same ~
the New York Stock Exchange does
in it's monthly statements.
Evening star., 1926-05-19
First Meeting in New Home.

The advertising committee of the
District Bankers A Association met YES
terdav afternoon al the new headouar.
ters on r street
The committee is preparing a r.
port 10 be presented at the special
meeting of the entire association call
ed by Francis G. Addison. .ir. 70 be
held Friday afternoon.
The advertising committee is MAX
ing plans for al educational cam
paigI to be conducted through the
press, the aim of which is better @
| inform the public as to the exact cost 9
of carrying on checking and other
bank accounts. 1t is believed that II
depOsitOrs understood more fully he
cost of all bank operations they would
make greater efforts TO keep large.
la IanceS OH rheir accnnnfs
Evening star., 1926-05-19

Dvidend rates as given in the above table
are the annual cash payments based on the
latest quarterly or half yearly declarations.
Unless otherwise noted. extra or special dlvi-
Oeuds are not included
Paid this year. no regular rate b or
Sxfrs sPayabIe in preferred stock. tPlus
AZ In stock payable 1Te quarterly: fPlus
6% In stock payable " 70 quarterly.
Seward daily gateway., 1926-11-06
THEATER OWNER BACK FROM LONG ABSENCE;
 TELLS IF SERVICE
HIGH AVERAGE PICTURES Ex- HIBiTED IN SEWARD CON-
 PARISON s. E. ALASKA

Mr. Brownell, proprietor of the Liberty Theatre returned on the Al aska after a six months absence in the States. During that time he was under prolonged treatment of the eyes, and had two operations perform ed.
 While below" said MT. Brownell, T made a constant study of the thea tres, watching every detail of the con- struction and equipment of three new ones, including the magnificent Fifth Ave. theatre.' I spent a great deal of time learning the methods of the most successful houses, with the in- tention of applying the knowledge gained, to our own little theatre here, so as to make it as attractive as possible. And I want to say right here that there is no theatre in Se- attle having a higher average grade of features than Seward, and this is due entirely to the untiring efforts of Capt. A. E. Lathrop to get the best pictures for his circuit. I found that the Juneau-Ketchikan pictures were not nearly so good as Lathrop's. Even the Pathe News reels were old CT than ours. On the way down we for tunately stopped at Juneau and Ket- chikan during show time, and I spent a little while in two theatres in each town. In both places I saw films on the screen that we had shown in Sew ard from two weeks to two months before. I come back with a much greater appreciation of the Lathrop film service than when I left, and it is my intention to improve as much as possible, the showing of these pro- grams in the Liberty Theatre, and to that end I have spent a number of dollars for new apparatus and parts, to secure more efficient operation. Seward people have always patronized their theatre literally, and are en- titled to the best we can give"