The Pittsburgh Post from Pittsburgh, Pennsylvania • Page 24

SECTION TWO PAGE TWELVE THE PITTSBURGH SUNDAY POST, MARCH- 14, 1926. TICKER TALK American TLegtoit BUILDING VOLUME TOPS 1925 BoH JarKja RebnuaryAbove CoT-espond-ng floifhs LastYear. HOUSING GROUP OF 27 HOMES IS BEGUN IN MORNINGSIDE Rudolph Berg, i First to Inaugurate i I This Year's Op-' eration. POST NO. S3.

Tarentum Tost play. "Cheer Cp," having regular rehearsals for its cast of 200 persons. The play will be given In ttic new Union High School Auditorium on March 18 and 19. A special feature will be a Charleston contest. M.

H. DeBay is chairman of the ticket committee. On Marr 6 Comrade Robert Marker staged a paper collection In Tarentum. Over i 80,000 pound have been collected to date. Comrade Peter Inman announces that the annual mUitarv ball will tie given In the Opera building Tarentum on April 9.

All post members will appear In uniform. The post's drum and buaic corps, aided by several local singers, fumifcheu a two-hour over WC.IK recently. UK FEBRUARY 1526 25 AGCVE SAME MONTH LAST YEAR ZC GRAINS ADVANCE, WHEATIN LEAD Heavy Futures Buying and Foreign Strength Off-Set Profit-Taking. My CHARLES D. MICHAELS.

CH1CAOO. March 13. Heavy local buying of wheat futures combined with marked sLrenfrth in Winnipeg and Liverpool, more than offset liberal profit-taking- sales, and May advanced 1 1-1S cents over Friday's finish to a new higrh for the week, and 11's cents over the inside fifrure of Monday, with the finish within a fraction of the top with net pains of ft'l cent. May closed at 166 July at $1. 434 1.44, and September at Corn was unchanged to cent higher with May TSifti 78H cents and July SITs cents, while oats were unchanged with May rC cents, and July 41 cents.

Rye earned HI' 3 cent with May 92 cents, and Juiv 93'4 cents. MAIiKET l- IItM AM. DAY. Hartlctt, Frazier and Jackson Brothers were again prood buyers of wheat futures- at Winnipeg: which was partly credited with the sain of rw 1 cent in that market for the day. The buying: orders seemed to appear on all the weak spots, and while many local were disposed io accept profits due to the sharp bulge, the market showed a firm undertone the greater part of the day.

although there was at one time by houses with eastern connections. Outside interest was somewhat larger, and sentiment more favorable to the buying side. CONTINKNT BI VS FI TLKKS. A much better undertone was apparent in the foreign news, and while export sales were finally estimated at only 300.000 bushels, cables said a good part of the unsold cargoes afloat had been disposed of and there were numerous bids in the market for Mani-tobas from Continental countries. The latter was credited with buying futures here and has been for some days.

Liverpool closed higher, coming better than due and Buenos Aires was up 2 cents for the day with March $1.41 and May $1 45. A Buffalo mill bought 42,000 bushels No. 2 hard winter in public elevators here at 7 cents over May, an advance of the motors are quite popular as short sales in some speculative quarters. It. O.

ASKS TO BUY ROAD. The Baltimore Ohi-i Railroad Company has asked the interstate Commerce Commission authority to acquire control of the 30 miles of the 'inciunat Indiana Western railroad, extending from Hamilton. to Springfield, 111., by purchase of not less than 0 per cent of its capital stock valued at $10,700,000. The sale to the Baltimore Ohio is being negotiated through Kuhn, l.oeb Co. STOCKS OF OFPKK JUMP.

Copper stoeks. nt the en-i of February, increased 1 l.2tti.00il pounds, ai-iordmg to the American bureau of metal statistics. i.if this 9.330,000 pounds were in relined and 1.930.000 pounds in blister copper, including in process. Production of copper in February amounted fo 221 pounds, against 227.918.000 in January. Shipments of copper in February amounted to 211.740.000 pounds against 210,710, MOO January.

MAY SOON CLOSE DEAL. Negotiations in progress in London for several weeks between the Royal Dutch shell group and representatives of an American banking syndicate for purchase or' control of the Colon l.evelonmr.nt Company, which owns the famous Colon oil concession in Venezuela, have reached a point where it is expected a deal may be closed very shortly. The Royal Dutch group owns 75 per rent interest in the Colon Company and Carlb Syndicate. the remaining 25 per cent interest. It is reported Royal Dutch interests have expressed a willingness to relinquish their interest in the property for $30,000,000 in aid a 15 per cent royalty interest or an equivalent of approximately $15,000,000.

BUYING ORDERS LACKING. Not in some time have the buying orders been as scarce as they were at the start Saturday. In many stocks the demand was almost entirely lacking at prices around the. previous closing level, so that the small offerings that came into the market were sufficient to force prices materially lower. That there was no gieat effort was indicated by the comparatively small transactions in the various stocks.

A majority of the sales were in lots of 100 to 300 shares, and these offerings were filling to bids which were on the books of the specialists at lower levels. Some short cov-erwlng was in evidence as the lower levels were reached, but It was not heavy and the short Interest was not materially reduced as a resulf of the day's trading. A TRIPLE TOP. Cne of the reasons for the selling that developed in the early dealings was that the market had made what hart students referred to as a "triple top." meaning that it has rallied three times since its break to the prices prevailing at the highs on Friday. Those who give particular attention to those charts through which they study the fluctuations closely were among the sellers of stocks late on Friday and again on Saturday.

If the general list on a new advance had to go through the. previous highs which have now been made three times. It would probably be taken as a signal for buying by the chart students and their followers. However, it is logical (OtJiTY COMMITTEE. IT.

C. E. McKee, county membership chairman, aided by S. Cancel liere. W.

1. Elliott, H. C. Lea, J. 15.

Nickiaa, and a committee eonsiatine of one member from each of the 39 posts in Allegheny comity, have been co-operating wltn the State Department of Pennsylvania in the March New Member Iirive. Prize will be awarded for the best increases in Post membership. The winners will be announced In these column on April 4. POST NO. 5.

East Liberty Post's contribution to bte March membership drive consists of a special 12 page edition of the East Liberty Post "Gazette" under the direction of J. J. Mor-lanty and W. S. tjtraub.

Post Commander Harry B. Ranting is arranging a special program for the regular meeting on March 18, inch program iil be announced next week. POST SO. 1. Charles M.

Coyne Tost held its first meeting at its new home iu the General A. J. Ian Armory, Oakland, on March f. General Logan and a nuniler the officers of the One hundred and Seventy -six Field Artillery are active members. Colonel R.

Lhin-lnp has offered his assistance in bringing about a closer relationship between the old l'uguesne Grays and this Post. Commander H. P. Cramer and Adjutant L. K.

Acker initiated a large class of new members. POST NO. 59. Comrade W. P.

Conner of Paris Post No. 1. Itepartment of Prance, addressed the Post on March 10 on the subject of "The ltattiefields As They Are T'ldy." He also snowed a number of photographs taken by him r-cently. Commander I'. K.

Wigsin presided and Comrade U. V. Sawhill, Commander of the Legion of Honor of Syria Temple, addressed the meeting. POST NO. 63.

Panicl W. It rooks post is planning for (he thirty-third district meeting to be held at its sistroouis, in Swissvale, op Thursday. March when State Commander L. McK. Crumrine will be the guest of honor.

Past Commander Allan I 'uxbury is general chairman of the arrangements, and announces that there will lie, in addition to the speakers, a program of music and vaudeville. The post's Auxiliary and the Service Star legion with their families and frienda are invited. POST NO. 77. Aspinwall post will hold a special meeting at its headquarters on Monday evening to complete arrangements for its annual play.

"The Red Owl," to lie held In the Aspinwall Hiirh School auditorium on March 25 and 2t. Comrade C. W. Milliken is chairman, aided by Comrades H. J.

Riffle, A. K. Knmer, II. C. Lea, A.

C. Scott, W. S. Kanhufer, V. 8.

Lea. Commander Kumer announces that the post has completed plan for opening a summer playground for the children of the district. The revenue from the above performances will le devoted to this cause. The playground will I located on the post's property, r'irst street and Kastern avenue, Aspinwall. John R.

Kumer is general chairman of the playground committee. POST NO- 81. The combined membership meeting of Victory and Observatory posts, held at Observatory pst' home, 2UI0 Perrysville avenue, last Tuesday evening, was a great success. The committee has farmed teams of live pot members, who will interview all ex-service men in the district. The card tournament, which the post holding every Wednesday evening, is open to everyone.

Tliere are tables for bridge, 5.K and euchre. Prizes are given to those holding individual high scores for the evening, and a grand prize wul be awarded at the end of the tournament. Observatory post holds its weekly luncheons esry Wednesday noon at the Hotel Anderson. L. li.

Kidd is poet publicity chairman. New Ycrh Clearing House Bank Report NEW YORK. March IS. (A. The actual condition of clearing: house banks and trust companies for the week shows excess reserve of This is an increase in reserve of $12,220,840 over last week when excess reserve totaled $14,874,840.

The statement follows: Lroans. discounts, etc increase $2,576,000: Cash in own vaults, members Federal Reserve bank $18,311,000, decrease $547,000: reserve in Federal Reserve bank of member banks $593,777,000, increase reserve in own vaults, state banks and trust companies decrease reserve in deporitaries, state banks and trust companies decrease net demand oeposits $4,383,441,000. decrease time deposits $573,717,000. increase circulation decrease 'United States deposits deducted aggregate reserve excess reserve $27,095,680. inerea.se Summary of state banks and trust companies in Greater New York, not included: Loans, discounts, $1,202,165,080, increase grold $4,4 49,600.

increase currency and bank notes $23,745,700. incraese $248,700: deposits with Federal Reserve bank of New York $101,118,400. increase total deposits $1,257,371,200. decrease $3,319,400. Do: Eliminatinir amounts due from reserve depositaries and other banks and trust companies in New York and United States: Deposits $1,183,849,300, increase banks, cash in vault, Trust companies: Cash in vault $91,879,500.

Center of Universe VERY INDIVIDUAL himself the center nf in tb. Trie srarritv of ca.h wheat is becoming more pronounced and is causing uneasiness amongst shorts in the May delivery. Kxpectations are that the domestic visible supply will show a decrease of over 1,000,000 bushels in Monday's statement, l'rivate estimates indicated that farmers in the Canadian northwest had only about 20,000,000 bushels wheat to market. tOUN TRADING MGIIT. Corn had a range of only to cent for the day and oats of 4 to cent.

Trade in both grains was light and. largely of a local character, with the strength coming largely from sympathy with whtat. Pit traders were on the selling side on the upturns. Cash corn was unchanged to 2 cents lower, with the finish easy. Country roads i r- FkTirn-terl in 11 1 i i jthnnp.

nrpvpnt- jing farmers' deliveries. St-eding of oats in parts ot tne west ana toutn-west is delayed by recent wet weather. Rye was firmer with wheat. POST NO. 145.

Frank R. Kurk Post, Crafton, moved tolo Us sew home on March 1. lr. W. Karle Crai; bas been appointed post membership chairman, and he aims to have 10O members in the lost.

F. A. Oidcn, post artivitiea chairman, will ann.unce his program for the coming meetings next week. The address of the new post headquarters is Crafton Lumber Company building. Noble avenue.

Crafton. Itussvll K. Montgomery is commander. POST NO. 305.

Captain John Si. Clsrke post. Wllkinsborg. held its first membership campaign meeting on March 9. A l' per cent increase in the post memiership bas already been secured Captain II.

C. Lyons, C. s. A showed the I'nited States Signal Corps' official him 01 the World war, plashes of Action. After speeches by Commander II.

C. Scott and Vice Commanders H. A. Vierhi Her and A. L.

Nei rou a buffet supper -was served at the Y. C. A. The post's string quartet furnished the music. Commander Scott announced tha! Comrade Ieaij, refreshment committee cha-r man.

and Comrade Ijmbert, dinner eommitlc-chairman. would officiate at the extra meeting of the post on March 2.:. He also announce' I a special play to tie presented at the. April meeting. On March 4 the post's auxiliary was addressed by Rev.

C. I'. Irwin, county am illary chairman. POST NO. 30.

PriTate Claude lteltx Post, Ira Tosburg. an pears in these celumns for the first time. Commander Weir M. Sunmey is responsible for the post having received three special citations from National and state headquarters for increasing membership. The National essay contest has been taken up by the post with the principal of the local school.

The post will put on a minstrel show on April and M. Plans are under way to obtain funds for the erection of a memorial building to all ex-service men In lravoburg. The drive will lie condu-ted by the local memorial associa tion and the legion, with its auxiliary. J. c.

Keltges is post adjutant. POST NO. 509. Kathryn Mae Joyce Pest held its regular monthly meeting on March 8. with Miss Tun, ins presiding.

The speakers were: John F. ltligh. stale membership chairman. E. H.

Hayes, district commander. Miss Lillian Il Paw son presented the Post with a picture representing several of the Allied Generals. Comrade C. L. Grigsby, commander of Manchester Post No.

eutertamed the meeting witli a special reel of moving pictures. The nurses are at work on their membership drive. Miss R. Wightman is Post publicity ofticer. 4A-S.

In connection with the state department's aiemlership drive this month, the local organization of the 40-8 has arranged a radio program. Chef W. S. has already suolcen over WCAE; he will speak over Station Kl'KA on a cross continent llnk-ti! through to San Francisco on March 22. J.

Vi H. Weir, a member of the is arranging this program. The next business meeting will take place at the Union Restaurant about March 23; plans will then be made for tlie spring initiation early in May. A record number has already applied for this class. Pitt Student Wins Oratorical Contest SPECIAL TO THE PITTSBURGH POST.

GROVE CITY. March 13. Robert Young, of the University of Pittsburgh, won first place in the oratorical contest of Pennsylvania colleges and universtiies. held here last nigivt in the college g-yrnnasium. His subject was The Great Experience." Second place was won by Ij.

F. Lineberger ot BuckneU universitj-, with "Organizing for World Peace-There were contestants from Franklin Marshall. Geneva, and Washington Jefferson colleges. Judges included J. H.

Shott of Westminster, William Tinker and David Porter. Slippery Rock State Normal school; B. H. Pershing, Thiel College: H. M.

Burrowes, Grove City College. Dr. W. Ketler, president of Grove City College, presided. The winner goes to a contest of states in this division of the union at a Kentucky school.

The national meet will be held in May, at the University of Chicago. FOREIGN TRADE OUTLOOK GOOD WASHINGTON, March 13. (A. P. I American foreign trade made gratifying progress in 1925, in the opinion of the commerce department, which noted the increased exports to European countries, with the hope that European countries are entering period of industrial progress, "undisturbed iy internal complications." COTTON CONSUMPTION FALI.

March 13. (A. Cotton consumption during Kebrui-ry totaled S67.S44 bales of lint, 53. 978 hab 9 of linters. compared with of lint and 56.46S of linters In January this year, the census bureau today announced.

Cotton imported totaled 3S.355 bales, compared with 62.0S1 In January. Cotton eiported totaled bales, inr-luding 10.85 bales of linters, compared with 749.967, indodtns 15.3GS of linters, in January. the to of the uni JANUARY IQ26 US It ABOVE SAME nONT LAST YEAR a52 15V ill CovtJ-oHT 1920 O' WASHINGTON. March 13. The volume of building throughout the United States so far in 1926 has been ahead of the 1925 volume The full year 1923.

of course, established a new record for construction of all classes. Whether 1926 will surpass the figures of 1925 can scarcely be even WEEK'S LARGEST The larger real estate deals reported last week Included the following: First ward Firth avenue (1639-32) Samuel Levy to Harvey K. Worthlnrton, 36x130, building, $25,500. Seventh ward Center avenue, corner Aiken II. J.

Bailey estate to T. A. Mellon. 100x208. $75,000.

(Porter MarDowell Co.) Shapespeare street (6360) E. 6. Kuhn to Shadyside Milk Company, 40x100, building. $30,000. (Shadyside Heal Estate Company.) Thirteenth ward Finance street, corner Albion street Max Rand to Samuel Rubensteln.

60x100, six houses. $27,500. (Morgan Caplan.) Hamilton avenue. (7040) Fannie S. Blnemnan to T.

Brono, 105x124, house, $21,000. (William N. Whlteford.) Homewood avenue Homewood Peoples Rank to Homewood Realty Company, 35x135, buildings. $45,000. Fourteenth ward Beecbwood boulevard J.

K. Holmes estates to Herman Kamin, 138x377 and 123x 138. house. $90,000. Forbes street, corner WtRhtman street Joseph Levin to Herman Kamin, 250x200, house.

$28,000. Pocussett street, corner Tilbury Samuel 348.20. G. G. C.

Stotler, secretary-treasurer of the Title Guaranty Company, notes in his compilation of the week's business. Four huadred and one mortgages amounting to $2,012,850.98 were straight mortgages and were given as follows: One hundred and sixty, amounting to $1,150,592, to corporations; 141. amounting to $528,229.98. to building and loan associations; 100, amounting to $334,029, to Individuals. CARNfXJIE MANOR SALE.

F. Y. Over sold for t.ura L. Zach-arias to O. K.

Fussenegger, 40x103 feet at 106 Carnegie Manor, with tapestry brick dwelling and brick garage to match for $21,000. The same broker also sold for O. E. Fussenegger to Joseph Barad, th hotel property at 7217 Hamilton avenue. Thirteenth ward, lot 25x135 to a 20-foot alley, having thereon erected a three-story brick building and double garage.

REALTORS' LUNCHEON. Special entertainment will be a fea ture of the Pittsburgh Keal Ebtate Board regular weekly luncheon in the reception room of the William Penn Hotel next Tuesday noon. CEMETERY BITS ACREAGE. A. E.

Hufnagel sold to the German Evangelical Lutheran St. Peter's ceme tery of Reserve township four acres of land on the Troy Hill road, in that township, for $9,350. TWENTIETH WARD SALE, Matthew Murray bought from Annie Martin a brick house at 3119 Bergman street. Twentieth ward, for 000. RnADY AVENUE SALE.

Archibald Cummins has sold to George Y. Boehm 44x100 feet, with residence, at -225 Shady avenue. Sev enth ward, for $20,000. MARSHALL FIELDS SALES. H.

C. Mendel Co. reports selling for Mae Irene Rousseau to William B. Gumbert the property in the Marshall Fields plan of lots. Twenty-sixth ward.

being a Dutch colonial bungalow, for for A. W. Mendel to John L. Herber lot No. 53 in the same plan, facing on Watson ia boulevard, for to J.

H. Porter for George Waters a six-room dwelling at 416 Chautauqua street, for for Anna Lennon to George Hay, the property at 171S Meadville street. New Issues OFFERING OK $35,000,000 PUBLIC UTILITY LIKELY The larjreet piece of public utility financing eince the Conowingo offering is expected shortly in the form of a fuwt mortgage inmie of consolidation of North Carolina utility properties controlled by the National Power and Light Company. This issue probably will consist of first and refunding mort-Cage 5 per cent bonds and will be offered to yield around 5.50 per cent by a syndicate including Bonbright A Han.bledon A and W. C.

Langley A Co. NEW ISSUE OFFERINGS $81,635,000 FOR WEEK Activity in the bond market was somewhat modified dnrine the past eek both as to trading and new financing. Offerings of new issues asgregated compared with last week and in corresponding weefe of last year. TWO MUNICIPAL ISSUES TO BE AWARDED SOON I.Ida for $5,000,000 Sanitary District of Chicago 4 per cent bonds, maturing annually April 1 from to lMti, inclusive, will be received until 11 a. in.

April 1. The Massachusetts state treasurer will receive bids until noon March 16. fir purchase of XTOO.OOO state notes dated March 10, 10-6. and due November 2o, li'-'i. REAL ESTATE BONDS (Quotations lel are aert lru-es for all maturities outstanding.

Maturity Hid Asked Sons RESIGNS AS DIRECTOR. Marion G. Bryce has resicned as a director of the Cnlted States Glass Company. PLATE GLASS EARNED $24.64. Pittsburgh Plate Glass net income for ear 192S are equal to $21.64 a share on 431.

S92 capital shares issued, a-s against $27.09 per share on 4S5.542 shares In 1324. ARBCCKLE WITHDRAWS PRICES. Effective Monday. Arbuckle Brothers announce that all special prices on hard or woft sugar will be withdrawn and that they will be firm at a basis of 5 cents for prompt Fhipraent or 30-day contracts. SAFETY CABLE EXTENDS TIME.

Safety Cable Company has extended the time in wbicb minority holders of Phillips Wire Company common holders may deposit their stock in exchange to March 31. WICRWIRE-SPENCER CITS LOSS. Wlckwlre-Spencer Steel Company and subsidiaries for 1925 reports net loss of $34S. 189 after interest and depreciation, as against uet loss of $892,477 in 1924. PARTICIPATING DIVIDED.

First National Pictures declared an extra participating dividend of $1.44 a share, and the repular quarterly dividend of $2 on the per cent first preferred stock, both payable April 1 to record March 15. DRY GOODS SITUATION. Marshall Field Co. say: 'Current wh-olesale distribution of dry itnods failed to exceed last week's volume by a small margin, but exceeded the same 1925 week. Collections were not quite as good as in the like period last year." SIMMS REPORT IS DCE.

Annual report of Simms Petroleum Company, which will be issued shortly, is ex-terted to show earnings of better than $3. SO a share, against $2. 81 in 1924 and I cents in 1923. Working capital is understood to have increased close to $500,004. CNION SWITCH ORDER.

Union Switch and Signal Company, a subsidiary of Westinghouse Airbrake Company, has received order from Canadian Pacific for materials covering 66 miles of automatic block signals. Work will require a total of 123 signals and 433 relays. ACCEPTS NEW POSITION. Stout Co. have announced thfit Harvey F.

Haxto, who has been with the Commonwealth Trust Company for the past seven years, is now associated with them. Mr. Barto is well known in banking circles, having beeti an active worker in the American Institute of Banking and the Bankers' and Bank Clerks' Mutual Benefit Association. MACK TRICKS EARNS $13.62. lteport of Mack Trucks, and subsidiaries for year ended December 31, 1925, shows net profit of $9,468,270 after depreciation and Federal taxes, equivalent after preferred dividends to $13.62 a share earned on 611,515 shares of no par common stock.

This compares with $6,220,272 or $17.95 a share on 283,109 shares outstanding In 1924. STANDARD CALIFORNIA STOCK. While no official announcement has been made, it is expected that the exchange of Standard Oil of California old stock for Standard Oil of California new stock will be set at a date late in the present month. The new company is incorporated under the laws of Delaware. The old company is a California corporation.

EARNINGS RATE HIGHER. January earnings of Gulf States Steel Company exceeded $100,000 after all charges and Federal taxes. After allowing for preferred dividend for the month, this equals about 70 cents a share on the 006 outstanding common shares. Earnings In 1925t'were $7.19 a common share, so that January profits represent a higher rate than attained last year. CNION TANK CAR COMPANY.

lteport of Cnion Tank "Car Company for year ended December 31. 192a. shows net Income of $2,715,607 after depreciation. Federal taxes and reserves for annuities, equivalent after 7 per cent preferred dividend requirements to $7.63 a share earned on $24,564,400 common stock. This compares with $1.2:9.

S70 or $13.19 share on $18,115,000 stock in 1924. STEEL. Current earnings of Sloes-Sheffield Steel and Iron Company, ais understood to be running at about the same rate as Id the quarter of 1925. Profits for that quarter probably exceeded $5 a share on the 100.000 common ssares. Net for 1925 la estimated at between $14 and $16 a common share.

GENERAL MOTORS BIG MONTH. (General Motors Corporation business has shown sharp Increases since the first of the year, and it Is expected sales In March will exceed 110.000 cars and trucks. This would establish a new high monthly record, as the corporation In monthly sales has never before crossed the 100,000 vehicle mark. Its previous monthly high was in October. 1925.

with total sales of 95,364 cars and trucks. ELECTRICAL INDCSTRT. Central station activity la becoming more marked in the electrical industry. Demand Is mainly for distribution material, one company placing an order for $250,000. "Electrical World" reports.

Many orders for line construction material are coming from the South. Demand for Industrial equipment continues at a high rate, though in general the trend of Inquiries would In-dtcata a slight decrease in the volume of this type of business. Marked Interest ia reported in electrical refrigeration. LIDLCM STEEL, REPORT. The pamphlet report of Ludlum Steel Company and subsidiaries for year ended December 31, 1925.

has been Usued. Net income of $400,554 after depreciation, interest and Federal taxes, la the same as previously published, and is equivalent to $2.97 a share earned on outstanding 135,000 shares of no par stock. This compares with $224,423 or $1.87 a share on 120,000 shares outstanding in 1924. NEW CONTINENTAL ENGINE. Continental Motors Corporation has acquired basic patents ou the Burt McCol-lum.

or Argyll, single sleeve valve engine, a type differing radically from internal combustion engines now in use. R. W. Judson. president, says: "The Argyll engine is the latest development in Internal combustion engines and we look to see it gradually supplant the present type engines.

We will soon announce the names of automobile manufacturers who are interested in equipping their cars with the new motors." EQUIPMENT ORDERS. Imperial Refining Company has ordered 100 tank cars from Pennsylvania Car Company and Oliver Iron Mining Company, and 40 air dump cars from Magor Car Corporation. Litchfield Madison ordered 200 hopper car bodies from Ryan Car Company. Delaware. Lackawanna Western is in the market for 15 Mikado and 19 Mountain type locomotives; Great Northern will spend $100,600 for Diesel electric locomotives; North American Car Com pany wants 500 tank cars and Missouri Pacific 600 freight cars.

Boston Maine contemplates buying about 25 motor coaches. ALL'MINCM PRODUCTION. Aluminum production in the United States last year reached a total value of a decrease of about 3 per cent, as compared with 1924, according to a report issued by the department of commerce. This decline, the report stated, was particularly due to the drouth in the Eastern states and partly to price changes. Imports of aluminum during the year were valued at $10,160,497.

a gain of 4S per cent, and exports totaled $6,057,071, a gain of about 60 per cent over those of 1 924. AIR REDUCTION. Buying ot Air Reduction has come from interests whii.h are credited with beini; closely affiliated with important insiders, and is believed to be due to the expectation that an increase in the dividend is not far off. It is contended by students of the market that there have been signs of good buying on all the recessions In the stock in the past, and that this demand has had all the earmarks of being accumulated. Considering its comparatively high selling price.

Reduction did not fare badly during the big brtak of 10 days ago, and this has been responsible for attracting some attention to the issue by observers in the commission houses. MOTOR STOCKS. Motor shares were again in suj-ply with Hudson starting with an initial loss of IS points. This unsettled the remainder of the motors and brought about some selling, but the main factor in- the decline in some of those stocks was the withdrawal of buying orxier which had been on the books. General Motors, which has been showing signs of moving independently of the remainder of the automobile stocks, showed some resistance, but was finally forced somewhat lower as increased selling developed.

Because of the feeling that the recent break in the market will bring smaller orders for cars in the coming month, most Til" iMvutntNi Ox Pfseoc Dep t. guessed at this time. However, the current year has got away to a better start than the previous one. In January building activity as measured by the value of contracts was 48 per cent above the mark of January a year ago. The mark of February this year was 25 per cent above mark of February a year ago.

REALTY DEALS Kraus to I.eo Kerber and Sandor Mosko-wltz. 115x150. two buildings. $57,250. Severn street (1422-2S Nattie Kothman to Ike Simon.

90x120, four houses. $42,500. Wightman street (1815) John T. Kirby to Sol Buckstein. 30x118, house, $22,000.

Fifteenth ward Beechwood boulevard (3609-13) Harry Kaw to D. Colalxza. 80x122, three duplexes, $10,600. Twenty-sixth ward Waldorf street Emil C. J.

Gratz to Calvin H. Russey, 41x66, housing, Dunlap avenue, $18,000. Outside city limits Avalon Nelson E. Bell to H. Finger, 50x115, flat, California avenue.

$36,000. Braddock Patrick W. Shields to Israel Rosenbloom, 40x135. Halket street, $30,000. Glassport Wentzel Gabauer to Andrew Horinko, 50x120.

Delaware avenue. $30,000. McKeesport Mary P. Edmondson to Young Women's Christian Association, 40x 88. Ninth avenue.

Second ward, for $25,000. M'-Kees Rocks Louis J. May to Jaroslav J. schultz. 133x156.

Chartiers avenue and Furnace street. $30,00. Tarentum Margaret H. Keiscr estate to Harry H. Girt, 25x150.

store, 303 Fifth avenue, $30,200. Wilmerdtng John J. Kirk to Charles G. Schwartz, 50x110. stores, Westinghouse and Station street.

$55,000. B. 0. Seeks Stock Of C. I.

W. System BY THK ASSOCIATED PRKSS. WASHINGTON. March 13. The Baltimore Ohio railroad asked the Interstate Commerce Commission today for authority to acquire control of the Cincinnati, Indianapolis Western railroad by purchase of not los than 80 per cent of its capital stock.

The Cincinnati operates 308 miles of railroad from Hamilton. to Springfield. Ill, and a branch from West Melcher to Brazil. Ind. The Baltimore Ohio agrees to pur chase $10,700,000 of preferred and common stock at $24.50 a preferred share, and $14.50 per common share, the total being $2,086,500.

By combining the two systems, the applicant said, traffic can be handled more economically with an estimated saving of from $100,000 to $150,000 a year. Wall Street Briefs BY THE ASSOCIATED PRESS. OmHALS OITER STOCK SWAP. NKW TORK. March 13.

M-re than SO.nco tocltboldera of the Tidewater Oil Company, and Associated Oil Company, which wul be consolidated as the Tidewater Associated Oil Company, hare rwceired statements from Ax-tell J. Bylea. who will he president of the fcew company, and Paul Shoup. president of Anaociated Oil. with offers for exehangw of their preaeot common shares for stock of the new company.

Etnpbasm was placed on the earnlnc power of the two companies, operative as a unit, which It was said would be appreciably strengthened owtnr to the (Tester flexibility In their combined organization for production, transportation and marketing. The combined properties last year produced barrel of crude oil. and the combined rennlnc rapacity Is 125.000 barrels daily. Both companies bought more crnde than they produced, the total of 3il.4T7.S5 barrels in 1JTJ5 maktos STerace purchases of 83,800 barrels a day. The new taoldlnr company is to bare Issued $76,347,100 of six per cent cumnlatlTe preferred with limited voting power, all of which Is to re to Associated holders on the basis of one-third of a share for each Associated Oil share There also will be 5.480,733 no-par common shares, of which 500.000 are to be sold from the treasury and the balance exchanged for Associated and Tidewater Oil stocks.

100 TO SKLL KX-DIVIDKND. More than 100 securities are listed to sell ex-dixidend on the New York stock exchange on Monday. Among the issues are Coca Cola, Gulf States Steel, American Car tc Foundry, Pete Marquette, St. Louis-San Franclsce Railway, Hudson Motors, Mack Trucks, Famous Players, American Telephone Telegraph, and Phillips Petroleum. LONE STAR GAS OFFERS MADE.

Stockholders of tie Lone Star Gas Company hare been offered the risht to exchange each share of the present stock of $35 par value for one and two-thirds shares of stock, $25 par, of the Lone Star Gas Corporation, a recently formed Delaware corporation, which will take over the essets of Lone Star Gas of Texas, provided 80 per cent of the stock is deposited with the Pittsburgh Trust Company by April 1. Fractional shares will not be issued. The new corporation bas authorised capital of of which will be used in exchange for the $13,500,000 stock of the old company. The remainder either will be sc.ld to stockholders or used to acquire new properties In the future. BANK CLEARINGS INCREASE.

Bank clearings throughout the country for the week are compiled at $10,016,087,607 by the 'Commercial and Financial Chronicle." an increase of .7 per cent over the corresponding period last year, when $9. 384, (SO, 311 Mas reported. New York City gained 10.6 per cent. PLATE GLASS EARNINGS. The Pittsbnrgb Plate Glass Company re-porta net profit of 2,122.81 1 for 1925 after depreciation, depletion and reserve for Federal taxes, against $13,154.2711 tie year before.

Net profit is equal to $34.64 a share on outstanding stock, against $26.94 in 1924. SOVIET INCREASES OrTPrT. Iron and steel production of the Soviet Cnion in the first quarter of its financial ye.r. October 1 to January 1, gained substantially over the preceding quarter, the Russian information bureau reports. The output of pis inm Increased 16 per cent, steel 24 per cent, rolled iron 31 per cent.

Copper smeltings shewed no gain. DIVIDENDS DECLARED. NF.W YORK, Marcn 13 (New York World News Service) William Cramp A Sons Ship Kngine Company regular quarterly of 50 cents, pavahie Marrn 31 to stock of record March 17: Philadelphia Company quarterly $1 on common, payable April 30 to stock of record Apnl also recnlar semi-annual of $1.50 on li per cent preferred of fTO par, pay-w May 1 to stock of record April Standard Commercial Tnbacco Company quarterly cents on common, payable April 1 to of record March 23: ttate Bank quarterly 4 per cent. pitiNf Apra 1 to stock of record March 19; this is first payment on increased capital of $5,000,000, previous dls-Nrrsements being on $0, 5O0, 00: Community Power A Light Company 25 per cent stock dividend on common, pavable April 15 to stock of record March 15: Westinghocjw Ah- Brake Company extra 25 certs also rerrtlar quarter! payable Apnl 3 to stock of record March 31. NKW YORK.

March IS. (A. P.V Directors of V'iivt National Pictures declared extra participating dividend of $1.44 a share on 8 per cent fu-st preferred stock, parable April 1 to holders of record Marca 13. I nigh, Low. Cle.

VSTieat I "1 Mar new $1 66 SI UVI Mav old 1 1 1 W-ji 1 Julv I 1 1 Ts September 1 37 '5, 1 1 Sti-v 1 3. Corn i M.y 7S I TKM T8S, Jnlv si i 81 September I 84 S3; 83 Oats I I May 40! 4'H J.ll -41 41SI 41 S. September 42 4-Va Kve May 92; i 911 92S Jillv 93V 921 Septemlier 924) 92 I 92 I-ard-- I I May 115 10 Mo 05 115 tX Jalv :15 35 30 jl3 30 Ribs I Mav I H5 50 Julv I 113 47 liellies I Mhv 116 17 '16 00 16 10 July 110 55 16 37 jlti 47 WEEK'S END IN REALTY FIELD That sector of the Tenth ward known as Mornin)Tside yesterday pro- duced the larg-est single housebuilding enterprise of the year. Dur- ing 1924 and 1925 Morningrside was a 'leader in popularity with the specu- Iative builder, several of whom put up and sold hundreds of the medium grade home. One builder at least will continue Jus activities this year.

Rudolph Berg, has filed plans with the city for 27 bouses for miffield street property. to cost $140,000. He is the first one cf the builders to announce such plans. House building last week continued to feature new construction work. The city bureau of building inspection filed 134 permit applications, amount- ins to $779,875, of which 57 were for bousing and 23 were for garages.

The previous week had 157 applications, amounting to $628,935. of which 4t3 were for housing and 32 were for garages. The third week back had 112 appli- cations, amounting to $1,824,562, of -which 52 were for houses and 15 were for garages. Yesterday's permit requests from the City included the following: First ward Harris Amusement Company interior alterations to thea- ter on Diamond street, $1,500, also for Interior alterations to theater at 6108 Perm avenue. Eighth ward, $2,650.

Sixth ward A. M. Spring pipe storage and front wall at 3009-11-19 Liberty avenue, $6,500. Tenth ward K. Claney, brick house on Stanton avenue, $9,500.

Fourteenth ward William S. Iavis, garage at 1545 Asbury place. $1,500. Nineteenth ward I. Weistein.

two stores at 751 Brookline boulevard, $4,000. Twenty second ward Dennte Amusement Company, interior alterations to William I'tnn Theater. Fed- eral street, $2,000. Twenty-sixth ward J. V.

Karpacy, garage at 3117 Potola street, $1,200. FIRMER MATERIAL, MARKET. The Straus reports indicate that building activities in the entire country have only made a negligible gain over the first two months of 1925. Meanwhile, the building material market has reflected increased firmness and the Indices of building costs have either remained stationary or risen slightly. A decided decrease in quotations on certain grades of lumber was reported, while increases were made in common brick, due to adverse weather conditions and lack of pulverized anthracite.

Hollow tile and Portland cement prices remained firm, and some slight weakness was revealed In the structural steel market, especially in the Midwwit district, where competition among fabricators was effective. Unseed oil continued to decline in New York and Chicago, while in the gen- eral markets of the country, lime. crushed stone, sand and wire nails tended to rise. LOOKS FOR SHAKE-OUT. This year's visitors Florida are frequently encountered in local real ertate offices.

Few will talk for publi-c at Ion. A salesman, who says he had some success this winter In selling Florida farm property, summarizes the situation there as follows: "la six months Florida has under-gone, a six-year growth. All kinds of property have been bought, and prices bid away up. First payments were easily made. But second and third payments are harder.

There is sure to be Toush sledding for many promoters and for their followers, and some real thake-outs are only to be expected." The stock market analogy was again alluded to by this man, in stating that i Florida land developments which were begun on a sound basis and are intrinsically valuable have nothing to fear. Climate, accessibility and desirability as a playground are inescapable qualities which do not change, and the developments which best combine these are expected to continue to expand successfully. HOUSING THAT'S NEEDED. According to Arthur L. Lee, man-effing director of the Hotel McAlpin and treasurer of the New York City Hotel Men's Association, there are today in the United States 30 hotels whic hare beinjr projected, many under actual construction, at an aggregate cost of about $132,000,000.

Home of these are needed, he says, but others are purely promotion schemes. According to Lee, there is needed in this country a constructive building program which would embrace the "own-your-homes" campaigns and the co-operative ownership plans. T'S would do much toward bringing relief to the great body of the American people, who are too well off to live in so-called tenements and too poor to reside in hotels or $12,000 a year apartments." NEW FIRM IN FIELD. The Vilsack-Krcuer Company will open their new ground floor offices at 5629 Venn avenue, between Negtey avenue and St. Clair street.

East Liberty, tomorrow. The company is a new one. although its sponsors are no stninsrors in the real estate field. The members of the firm are A. J.

VUsaek. 1. V. Vilsatk and J. Howard Kreuer.

A general real estate business will be conducted. EAST END INVESTMENTS. Monran Ouplan. East Knd. sold a 10-room bri -i house at 5504 Marga-retta street for S.

Cup lan to Harry Slavkin for also sold a nine-room brick house at S3S Farragut street for 2eig. Kootkin Shiner to M. IUoomer for $13,700. XH'NTV MORTIJAC.K TOTAU Allegheny county last week recorded 4o3 mortTW-s amounting to among which were 52 purchase money ntprtg-Ases. amounting to thfat considerable resistance should be developed when a previous top is approached and this is responsible, as stated, for some of the selling that lias come into the market.

STOCK MARKET WEAK. Stock prices were weak at the close of the market. Trading was only fairly active and declines were in most part due to lack of supporting orders rather than weight of selling. l'ri'es worked gradually lower during th- second and last hcur of "trading and the list, with very few exceptions, was at bottom prices when the session ended. Declines ranged from one point all the way to 10 points.

The high-priced specialties, as usual, were the heaviest losers. General Electric falling 10 points to 318, and Cast Iron Pipe, on its only sale for the day. was off 8 points from Friday final. Every group, and for that part, every issue showing any activity, was well below prices prevailing at the preceding close. United states Steel itself showed a loss of JT points at 1 24 i.

Maracaibo was down from 27 to and California Petroleum followed with a drop of 1W to 34.. Hudson was weakest of the motors, selling down 4 points to 109. Jordan lost 3 to 52H- Chesapeake A Ohio, lacking support, was the weakest of the rails, t-howmg a loss of 4S points at its low of 130 from which It rallied slightly. The Wcstinghouse Issues, both Airbrake ar.d wete in moderate upply. the former dropping 2 points llo.

while Electric was otf I point to 71. MARKET SENTIMENT. Those who advised profit -taking on Friday were of the s-me mind before the opening Saturday. theory was that with the market advancing steadily for several days it wu but natural to look for a setback when the traders who had taken a long position earlier -in the week would be dispos.ng of their stock in order to even their accounts over Sunday. However, it was again the opinion some reliable quarters that the market would be a purchase in the new week when favorable buying opportunities were expected to develop ami It is quit likely that a gooil.

demand will bo seen for stocks on further declines In the new week. Professional operators who have been operating on the short side are tenaciously holding to their position, and insist that a secondary reaction must develop. While many hold the view that the market has already had its secondary reaction, there are others in the bear party who are confident that another selling wave can be developed. Of course, this confidence is always increased when the market is reactionary, so the fact that there was more talk of another break on Saturday during the early' dealings was not considered significant as the market was working lower and some of the bears were experiencing a return of their courage. Commission houses reported that they were getting some odd lots, indicating profit-taking by outsiders who had bought at lower levels.

WKF.KLY REVIEW OE MKTAI.S. NEW YORK. March 13. (A. The decrease in the unfilled orders of the Steel Corporation at the end of February was greater than expected, but was partly accounted for by the very heavy shipments.

Sales during the past week were larger, especially of railroad equipment, including rails to Japan, but while general purf has-ing was fair, buyers were conservative and the firm attitude of producers relative to prices seemed to check large forward business. Pig Iron was steady but the demand was spotted with buyers cautious. Copper has been quiet and rather easier. Domestic consumption continued heavy but buyers have been holding off following fair purchases last month, and export business has shown no improvement. The larger producing interests have not been pressing for business and in some instances liave been holding for the 14U cent level.

Other sellers have shaded prices, however, and sales were reported on a scalodown. w-ith small lots available at the 1 4 cent level at the end of the week. Tin has reached the highest level since August. 1919. The dominant bullish factor was the fear or an acute stringency In supplies.

There has been good buying of prompt and nearby shipment and the disappearance into consuming channels continues heavy. Straits shipments were light and a liberal decrease in the world's visible is expected. Lead has been cut further without arousing buying enthusiasm, but the fact that the price has reached a level which should attract accumulation may tend to restore confidence on the part of buyers. Zir.e was easier under continued liberal offerintrs and in with the decline abroad, with no improvement in consuming demand. Antionmy was dull and prices showed further declines under moderate offerings.

RAW SILK MAHKET. YORK, March 1.1. (A. P.l Raw silk weak. per rtmrt erand ili uhle extra, 6 dnn'jle extra.

Jii XiSj Si 31 r.ot No. 1 etra. $'i tjCt: Canton new- 14 14 S'; SthLiisiiai steams, three danccr, sG COURT NOTUS. The supreme court of Pennsylvania will open a two weeks' session tomorrow morning when it convenes in its rooms on tiie eijrhth floor of the City-County building to hear cases appealed from 10 counties in Western Pennsylvania, Alleging he was maliciously prosecuted, R.S. Joseph filed suit yesterday in common pleas court against Marie Kramer, asking $3,000 Elizabeth Sloan, her will filed yesterday, disposed of an estate valued at $33,000.

The will of John I. Dawson disposed cf an estate valued at An estate valued at $7,500 is disposed of in the will cf $7,500. COURT NEWS CHICAGO CASH PRICES. Wheat No. 1 mixed, 1 73: Corn No.

4 mixed. TCc: No. 3 yellow. oats No. 2 white, No.

3 white. 4Vtfi4Ic: Kve N.i. 2, f-9Vj: timothy seed, 6 25ij7 00; clever seed, f'-S 00; Ijrd, 14 75; ribs, J16 bellies. $16 00. ACQUIRES TANK GAR FIRM NKW YORK.

March 13. (A. The American Car and Foundry Company has acquired the Shippers Car Iine Corporation, dealers in tank cars, it was announced today. The company operates more than 1,000 tank cars and has plants at Milton and Carbon-dale, l'a The American Welding Company is a subsidiary. The Wf 41 BSnaaL IV.W- 'i Established 1832.

tew- Iv is verse, so says the sage. Similarly, business men often judge general conditions by their own business. One advantage of a connection with the Farmers Deposit National Bank is the enlarged viewpoint that results from contacts with an institution constantly in touch with leaders of many successful industries. 10Vi HUH 99 9'i 101Vi 99' 9'i 101 i ICJ 99 10O no1, lois 99 I 99 101 14 101 K2Si 1 lOO 1 1 10Hi 102 99, IOIS Rook Cadillac 6'-3S 191'S-t; Coolidge Crt 1826-34 Crecent Plaxa 1927-35 West Knd Ave. tie 1 9J7-SS Fultoo Towers 6S tVen.

Motors IIMg. 7s. -4d Harbor Bldg Hotel Alba 6- l.udwig Itaumaa tis. Ji-t5-3; Pintard Apt.i 192B-S4 Roosevelt Crt 7 IS-3t Schenley Apts 6lj 19J-: Sherwood Apts Ss 1 ot. 10 Park Ave.

6s 154' Shelton Apt. Hotel H.191'W; COTTON rCTl'KES, NEW YORK. March IS. (A. P.I Cotton, spot aniet; futures cloved steady.

4 to 15 points liwer; Mav. 1H 72i 1S.74C.- July. lS.rso; October. 17.57 17. 1-: December.

17.Uf-r 17.13c; January. 17.it Jj 17.21c. NrTW ORLEANS. (A, Pr Cotton futures closed steadv at a net decline of 5 to 14 pcint. IS-36c: May.

17P4i 18.01c: JulT. 17. 4c: October. IS.SIc: December. IP r.

8pet steady, is poiata down; middilcg, 1 8 3-c. Farmers Deposit National Bank Capital and Surplus $10,000,000.00 Pittsburgh, Pennsylvania.