Evening Star Newspaper, November 9, 1921, Page 29

FINANCIAL, LOCAL SECURITIES Potomac Electric 7s,- Gas Shares and Mergenthaler Feature. ‘BY L A. FLEMING. Higher prices were again the rule on the local Stock Exchange today. Potomac 7s continued their sensa- tionai advance by adding another fraction to their gain, selling at 103, With 102% the bid price at the close. These bonds have not been issued Bs yet, and they have scored 4 Points. advance on the sale price and Promise to find a level around pres- ent figures. Washington Gas Tis sold at 103%. fhese are short-term notes, Wwhile the Potimaz 7s run twenty years from_ October 1. Gas bs brought 82 and Rallway 4s. 61%. In the stock iist Railway preferred was decidedly firm at 63 to a close nt 631 Mergenthaler continues to reflect strength, and on a very light busi- ness sold at 126 and 126 most pronounced strength of the day was evidenced in the Wash ington Gas shares which advanced to 50, One week from tod: the flnl’l\lfll eeting of the Mergenthaler Linotyp: ompany will be held in New York ity It is confidently expected that the earnings will be satisfactory from the standpoint of dividend 1aily earned. Some shareholders’ seem 'to think that there should be a resufption of the former Christmas extra dividend declaration, but the chances against @un extra are great. These are the days when a corpora- tion that is able to maintain its pre- war distribution. let alone an extra, is doing exceptionally well. Calix for $16.000,000. Secretary Mellon has called upon the banks holding government credits from the sale of Treasury certificates and three-year notes made September 15 to pay into their respect ional reserve banks 20 per aid fund on Thursday of this 1 Banks have held a large part of this fund for nearly two months, and after this payment is made. cailing over $16.000,000, there will stiil be about $64.000.000 pro of the sale named to the credit of the Kovernment remaining in the bank and in addition the entire purchase ,.ncc of the $232.000,000 of the 4% and certificates sold on No- Soiter . Evidently conditions are much easier at the Treasury. and income and outgo are more nearly on an even bas Taking Advantage of Demand. The wonderful spurt in _bonds brought about through the reduction in interest paid by the government on ts financial operations and the reduc- tion of the rates of the various fed- eral reserve banks, or, more properly, by the cheapness of money, is being “aken advantage of.by municipalities and corporations with financing to do. Recent issues of municipal bonds total $60,000,000, for which there has been an excellent demand from that large contingent of investors con stantly secking tax-free investments. Recent state issues. which are like- wise tax-free, total about $16,000,000, Tllinois leading with half this amount of highway bonds. Interest rate on municipals varied from 4 per cent to 7 per cent, the out- side for a small Minnesota munici- pality issuing school bonds, while the low rate was for Chicago park bonds. West Virginia 31= per cent, sinking fund bonds, are being distributed at .86.50 and interest. . The Land Bank of Chicago, and nu- merous corporations, and counties are hurrying prepara- dtions for the offerings of bonds to uke advantage of the good market. —_——— 'Washmgton Stock Exchange SALES. ‘Washington Ga: Washington Kailway and Blectr 614 45—$1,000 Clectric Power & K 103, $1.0W at m, Fiom 103, $1.000 at 103, Kail A Electric 1261, S1,00 ingtou prd.—3 at_63. Mergenthaler Linotype—2 at 1 a 126%, 2 at 1261, CALL 10 at 50, Waxhington Gas Light 7 Washington Kaitvay and Electrie pd.—d at 63, 10 at 63, 10 at A3y, 10 at 63%. Money—Call loans, 5a6 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. & Tel. 10 at 50 145—$100 at 1031, American Tel. Am. Tel. & Tel. Am; Tel. & Tel. con Anacostia and Poto Anacostia & Pot. gu Chesupeake and Potomac Capital Traction 5s City and Suburban 53 reetown ‘Gas Tst *5a. Metropolitan R. R. Fotomac Electitc Ligh Totomac Electrie cons Potomac Electric Pow Potomac EL Power g. m. Pot. El Pr. g.m. & rof. 7s. w. I, 1027, i D ou R municipalities | N R e A Open. High. Law. Olose. Open. m:n. Low. Otose. 1% 18 1% . 38 38% 38M » » ::v Rumley. lv Rumley pf. B_Raflm:tlun. =:§§;=g= Allis Chalmers pf. Am Agr Chem, Pere Mrq prior pf. Pere Marq pf. Car &Fay pf.. 116 Am Chicle Co...... Am Cotton Oi1, Am Cotton Of1 pf. Am Druggists. Am Hide & Lea pf. Am Ice pt Am Imarnnlonu s Am Steel Fdy Am Steel Fdy pf Am Sugar. Am Sumatra pf. Am Tel & Cable. Am Tel & Teley Am Tobacco. Am Tobacco (B) Am Water Wks. Am W Wks 6% pf. Am Woolen Am Writing Pr pt. wt im Zinc & Lead. 6! I’I% Remington Type half points. Losses of -a point. oc: | ! Newspapers daily re R curred also.in Wabash second 58, Bal- I h Abw by ¢ o R::{::fi:g o }lmnr; and Ohlo_ 4s and: Public s-:;. B)S'D:ean lute | E.D. Sampwn, Gen. Agt. T\unt the theits of Liberty ce of New Jersey 58. Goodyea : o 3. jewe . sthe 2:;:{'3".”7“‘“ broke sharpiy over three pojnts on alety, earn 1125 Woodward Building ‘f)"d\' jewelry and other ;fl“:\g m}/’ profit [akl\rlp ml;.h' (y‘ld;r valuables which thought onds, who were putting them into ® ss ers keen ne StL&San Fran. | m the hew issue. 'This new issue, | less owners keep at hiome uls Southwn, amounting to $27,500,000, was heavily Your belongings may o g::.:ul:dsxrrax 3n.*lensuhsc;lllled;’ bThf( cgg‘soo,ooo first next, uniess you: oard Alr Line. oint stock land bank of Chicago 5%s | o L uniess Sosre Rosbuck 1. Joent ofF Teadny i &l and require no Overa self of the f; hell Ty oo e ttention f Fire and 1 Shell Trad & Tran, . al Quarter o ire - anc Sinclair 01 : CORN CROP THIS YEAR s & Vaults. Sloss-Shetflsid pt., hannon anlls a Century 1 SAFE DEPOS] Sovier e T 3,151,698,000 BUSHELS | =0 i e el A Southern Ry pf. tthou Associated Atchison. Atchison p! . Atlantic Cst Line.. Atlantic Frult Co.. Atlantic Gulf Atlantic Petrol... Atlantic Ref pf. Auto Sales. 82 u% % 2% 1% 109% 3% Ralto & Ohio pf. Beth Steel (B) Beth Steel 8% pf. Booth Fisheries. Bklyn Rapid Trn. . Bklyn Rap Tr ctfs. Bklyn Union Gas. RBurns Bros Butte & Superior.. ;3"! . UM% California Pckg. California Petrol. Canadian Pacific Central Leather. .. Central Leather pf 62 Cent RROfNJ. 190 Cerro de Pasco. ... 30% Fhandler Motor. .. & Ches & Ohlo. ...... 5% Chi & Eastern Ill.. 2% Chi Great Westn 7 Chi Great W pf-.... 16% Chi M1 & St Paul. 2% Chi Mil & St P pE.. 364 Chi & Northwai.... 6% Chi R I& Pacific.. 3% ChiRI&P6%pL.. 68 iCthl&P'l%Dfu ChiStPM&O IStPM&OPL.. Chile Copper Chino Copper. CCC & St Lout Cluett Peabody . Columbia Gas. Columbia Graph Columbia Grph ptf. 16 Cons Gasof N ¥.-. 9% Cons Intl Cal Min. Cosden & C Crucible Steel. Cuban-Am Sugar.. 14% Cuba Cane Sugar.. 7% Cuba Cane Su pf 18% Davidson Chem... 41% dson. i g;} i‘:n]:l‘: & Watn..109% 109% 108% 109 Dome Mines... 18% 18% 18% 18% uSS&ADL.... 4 4 4 4 i Lm‘lluoll-lnhn n. 2 0% @ | Erie . 2% 12 1% i Erle 18t pf. % 1% 1% { Famous Players. 6% 62 6% Famous Players pt ed ) \lmesd& Spt.. isher Body . Pisher Body of O p!. Fisk Rubbe Freeport Texas. i Gen Asphalt. Gen Asphalt Gen Cigar. W% 19 - 1% 104% " | Gen Electri Gen Motors. 3 j Gen Motors pl. Gen Mot 6% deb. Gen Mot 7% deb. Goodrich. Goodrich pf. Great Northera pt. Great Nor Ore..... 88 Gulf Mo & Nor Gulf States Stex Haskell & Barker. Houston Ol ‘Hupp Motors, . Indiahoma. . Indian Refining. Inspiration. . Interboro Metro NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Owens Bottle ' point of view. iy S[lME PROFIT SALES & :| N BOND MARKET “*NEW YORK, November 8.—The up- ward ' tendency was predominant in the bond market today. There was & pgood deal of realizing, .causing small losses {n {ndividual issues. Bonds which worked into new high ground for the year, .included Belgian Tihs, Belgian 88 receipts, Canadian &8 of 1931, and Swies 8s among the foreign government issues, Northern mand, Gas & El Pacific O1l. lm 6% 1n% [ Phlllln Petroleum ce-Arrow. 1ana, der:-nd. qull"x orway, . demand, mand, £3.00; De Switserland, 32. mand, 12.87; Montreal, 93%. LINCOLN MOTOR FAILS. DETROIT, November $.—The Lin- coln Motor Company filed a volun- \| tary petition in bankruptcy in federal court here. || appointed the Detroit Trust Company receiver. $14,805,000 $8,237,280. organized. FINANCIAL. Money ' to Loan’/ o "~ LOANS.ON -/ BONDS ub\u. Swed de- Mfoney en, enimari, demand i7.95: | In Am Lle Becurgt by Beat degd of trust o0 veal saia’e. éthand, 18.70; Spain, de. eqd 3.8 ,”. demand, - 4.21 ur ennctlonl locally -na In ) una Bold. fling_interest 3‘1 v'v':f‘?.mn Argentins, demand, Brasil, de- other cities emable us to fu Joseph L Weller 2, Fam L& “Bond Ex 604 14th St. N.W. Money to Loan We are In a poaftion to glve you the hest service in real loans. Money now on hand. Shannon & Luchs M. 2345 713 14th St. nish money in any amount !nl Washington Real Bstate En- terprises. Stone & Fairfax 1343 N. Y. Ave. Maln 2424 | Li Founded 1876 416 Woodward Bldg. 15th and H Slrecu Judge Arthur J. Tuttle| Fastest Service in Beltimore OobD LOTS KARDOS & BURKE m% Baltimere Assets were glven as and liabilities totaled ‘The business may be re- Canadian Securities To yield from— Pacific 4s. Union .Pacific’ convertible P!ons-Arro' [ 24 4s, Northwestern 6%s, Chesapeake and 5,000 Life Poficy, $57.35 6% to 7% Pierce Ol Qhio refunding 5s. Atlantic Coast Line 7s and St Louis and San Franciseo adjustmen! 68, among the ralls; 3rd avenue 5s, Consolidated s, Detroit Edison * 6s, Brooklyn Kdison 7s, Serles D, and Hudson and Manhattan refunding 5s among the public utilities, and . Ameri- can Telephone and Telegraph conver- tible 65, General Hlectric 3%4s and 58, and United States Steel sinking fund 58, among the industrials. { Against these advances were to bel checked some rather sharp deolines in some of last week's favorités. City of Copenhagen 5%s dropped a point - and Queensland 78 one and a Reading 1st pf. Reading 2d pf. 8tand Oil of Cal. Stand Ofl of N 3. Preliminary Estimates of Other You Never Charge Off Depreciation on an Mortgages 'Age 40. Sem mure of birth for lllnstration Artabianed b8, Assets over /000,000, Write for Current List M. LE ROY GOFF, Insurance Alvhtr The Connecticut Mutual i Life Insurance Company " —has returned to its policy- holders more money than it has received from them in All branches Room 610 Wosdward Sufldims. M. 36& Investment in First Capital & Surplus, $2.000,000.00 ;;remmmi i a Ire:ord umq;e ce com- pamies, e YOURS MAY It offers a thorough Edu- cational Course to m Repre- - sentatives. GO NEXT Main 2345 a Loss. Stand OII N J pf. Nahonal Savings & Trust Co. Produce Are Also Officially Reported. The corn crop this year amounts to 3,151,698,000 bushels, the Department of Agriculture announced today in its preliminary estimate. Preliminary estimates of other crops were announced as follows: Buckwheat, 14,894,000; potatoes, 356,- 076.000; sweet potatoes. 165,841, bacco, ' 1,020,874,000 pounds; flaxseed, 9.360,000; pears, 9,780,000; apples, 102,- 90.000; ' sugar beets, 7.480,000 ' tons: peanuts, 33,664,000. —_— FOREIGN EXCHANGE. Selling checks—dollar values at noon today. London . Paris . Brussels Studebaker. Superior Ofl. . Submarine B Temtor Corn (. Texas Company. Texas & Pacific Texas & PC L o, Third Averue. Tobacco Prod. . Trans Contl Ol Union Bag & Papr Union O Union Pact Union Pacific pi United Drug United Drug 1st. , . United Frutt. .. ... ll'l United Retail Stra. A!K U S Food Prod U S Indus Alcohol. “K 119% 50% U S Rubber 13t pt. U SSmelt & Ref, 4303 Dalrrade By the Associated Press. NEW YORK, hovember 9.—Foreign exchange irregula Bri demand, 19”{; ublu g: 4 % 65% Vanadium Corp... 31% Van Raalte 1st pf. 83 Va-Car Chcm weuzern Pacpf... tern Union. w thouse E & M. 46 Wheeling & LE... % Wheeling & LE pf 15 White Motor. White Oll. Wilson Company.. 81 Wilson Co pt. Willys-Overland. . EQUITABLE Co-Operative Building Assets $4.303.538.65 Surplus . $1,007,900.91 Those Who Save . . —and save regularly and sys- tematically are sure to obtain the best results in the end. Subsecriptions for the 82d Issue of Stock Being Recelved Shares, $2.50 Per Month- 4 Per Cent Interest EQUITABLE BUILDING 915 F St. N.W. -'OH\ JflY In!o“. Prtlfl..l FRANK P. REESI See’y, o Worthington Pmp. 0% 41 Wright Aero...... % High. Low. Last. Call Money..... % % 6% HOURLY SALES OF STOCKS, 351 4000 624 %00 1lam.... 180 400 12m...... 47400 1ipm... 2p. STOCKS ARE HIGHER AND TRADE ACTIVE BY 5. P. WEST. NEW YORK, November 9.—Very lit- tle happened over the holiday to affect the Wall Street situation. The election results meant nothing from a financial “The Partial Payment House™ Are We In For More Inflation? Do you know that a see- ondary period of inflation 1s now a likely occurence? ‘While New York was closed for busi- ness the German mark had struck a new low. This morning there came a sharp rebound from the .34 minimum to ‘above .40, followed by e reaction later. ‘The fluctuations had no bearing upon calculations in other markets. The stock market was definitely strong from the outset. It needed no stimalus to put it up. It was simply continuing the movement interrupted by the holiday, reflecting primarily confidence in the business outlook and enthusiasm over the abundance of the money supply, the downward tend- ency of interest rates and the con- sequent huge demand for investment | issues. i Two new offerings of bonds came Do you know that a factor is hanging over the stock market which may send it skyward? The matter is one that is receiving the serious at- of this stock is contained in_our recent Securities and Commodities Keview —FREE UPON REQUEST. A.A. Housman &Co. 20 Broad Street, New York MDYBERS: New York Stock Exchange WASHINGTON OFFICE MAIN FLOOR CORRIDOR RS R ALLEY, Mer. MIZ o S AN . 3.5.Bache & Co. and Halle & Steiglitz | Mlll 2100 S New Yerk Correspondents More Than Ever Before The safety of invested funds must receive greater consideration now than ever before. Our standard of safety is your insurance for maximum protection under all conditions. Over a quarter of a century of successful investment ex- perience is -behind every First Mortgage we offer. In amounts of $250 and p. B. F. SAUL CO. Oldest Savings Depository in Washington Cor. 15th and New York Ave. Pacific Oil An exhaustive analysis SAMUEL UNGERLEIDER & CO. New Willard Hotel .la.mes Sloan,m:lr.: r Manager - MEMBERS New Vockstodt Exchange Cleveland Stock Exchange Pittsburgh Columbus Stock Exchange Chicago Board of Trade Telephones Main 3364-3367 Becomza parp\em the “Bell Syst_em” by purchise of Amer- ican Telephone and Telegraph Company stock. Webelieve that thereare few, if any, concerns in this country whose positions are more sectire - BECAUSE: Financially i Tre assets in value equal not only all its indebtedness but also at least twics the par valuc of its outstanding stock. Its stockholders have paid in, v cass, much more than the par value of the stock. There is oo - » in the canitalizai 3 Commercially Irs growth issure and steady—regardless of the ever i b it As it has come to be more and more recognized as Distributi ‘Tz $535,000,000 stock of this Company is owned by morethan r75,000different people, anaverage ofabout 29 shares to a stockhelder! We believe that no'other Company in the world, having no preferred stock, ’has so many stockholders. It has many stockholders in every State and is adding new anes faster than ever before iniits history. Politically ‘The Company is "Nor m rourics” The Public a2 necessity, its expansion is more rapid than the gowth of the covaery el know that the Operating Companies endeavor to be Eamings ' fairwith the publicand with the Commisdions. They Tre Avmmican Truzenone & Trzcrarn Cospany _ “therefore almost universally accord fair treatment to has never paid a dividend which it has not eamned - the Company. “ - . with 2 wide margin of safety. ltunowannngu i Character . . therate of about $13 per share. A Corromamion may be quite right in all the above Riges Realty Lises Reaity Washington Market e, ington Market 5, W e STOCKS. PUBLIC UTILITIES, tention of several leaders of_financial thought. out this morning—one a $27.500,000 Goodyear Rubber loan, the other the $2,500,000 farm loan bonds—and both were snapped up with avidity. Mean- while the general bond list continued active and very strong. There was the same overflow de- mand for investment issues in. the % | stock market, with the result that preferred industrials like Standard %1 0il, American Car and Foundry, American Can and American Smelt- ing and common stocks like Car and Interboro Met pt 1t is explained in"our No« vember Market Lettér. Send for a copy Smith, Lockhart&Co. LSTABLISHED 1911 Continental Bldg., Baltiniors, Md. ntl Mer Marin i Intl Motor Truck.. : Intt Truck 1st pf. Intl Truck 2d pf Intl Nickel. ... + {Intl ckel pf. | Intl Paper. Intl Paper (sta)... Invincible Ol Alherse Foundry #nd American Telephone and Cobambi Telegraph rose sharply again. Members Baltimore Record m“b: e bem;:udmmd. dmm ommer Speculative Shares Firm. ment. company Distri Stock Exchange we Z!'E“’:':' ey "K"::::E';ty ‘Sou, The speculative list was equatlyll o For forty years the Company ederal © well sustained, to the discomfiture of - withitspredecessor] has paid uninterrupted is cHARAGTER in its Munagement, Liverty . Kansas & Gult Co. o atained {0 e Jiscomfiture of ‘Safety, Convenience, Profis” {withits ] This Company has inits Kelly-Spring 'l‘m Kennecott. Keystone Tire. . Kr e (B8) wanna Stesl I.n Tire & Rubber Lehigh Valley. | Liggett & Mye: Loews Inc. Loft Inc been looking for a reaction. Mexican Petroleum went through its previous high of the recent move- ment with a rush. Baldwin Locomo- tive, jn which a short interest had accumulated, ran up briskly. Texu Company stocks made a new igh on word that the company had ud the price of igulf crude oil again. dividends of at least $7.50 per share. The Directors have now placed the Company upon a $9.00 per year dividend basis. Prospects Trenrr is a large business in sight and the evidence mnfl.humgfi:difidmmflmtm lumdanmthuedfilrmadefinm service to the public; its personnel is saturated with these ideals, from its President, H. B. Tuavea, all through the organization and through the organiza- 10 9% Mm% 10% 2 0% 28 % 5% 54k 154 150% B e T ——— cl:.: ANGS BANK e motor groups were prominent ‘the past points to an endless increase. demm The me lead of General Motors anc | § of . € the Fisher Body preferred. ’ X . e o Snirt Dividend-paying ralls were helped | N - P Marland Ofh. .. oeer May Dept Stores. Moxican Pete. -{ul by the general wave of in- thent buying and by the news thlt ‘the western carriers had an- nounced their intention to cut wages angther 10 per cent. The question now is what the at- titude of the Labor Board will be toward this proposal and how long it will take to reach a decision. If ‘W= recommend the purchase of its ghares, which are now selling at about 10934 per share, and should be glad to receive orders for any amount from ene share up or to 1dvale St 4% ::nnstrnssu. [ TITLE INSURANCE. Mo Kan & Tex.... Coloms Tyt . 41 Mo Kan & Tex bf.. there is to be a protracted delay, and =% y Heal Estate D% P the further rate cuts are put into Vi 7] —— . MISCELLANEOUS. effect, in the meantime, it ‘will not be |. ] u Grnpho‘htme com.r 3% an argument In favor of railway L) ¢ stocks In general. e - Y The buoyancy of today's market = b8 upset“the calculations of the trading = rank ‘and fille and of most of the % L3 Wall street letter writers, who have resy L been talking fer several days past | NN 1§ % KIDDER, PEABODY&‘ Co. Members New York and Boston Stock Exchanges " Mer d "Dutch Market com. 01d Dutch Market pfd. Mooty [ Natl Enameling... €% Natl Lead . b eton Market ! : Db pan” prottetae e et CR— o m— e o sk et 18 BROAD STREET 115 DEVONSHIRE STREET GASOLINE PRICE RAISED, aRrded the speculative bist by the SOSTON voraclous investment demand. Stocks paying no dividends are not apt to be affected. but almost ev- erything on the dividend list that has gaay claim to the permanence of /its dividend is bound to feel, in one degree or anotmr. the ipfluence of i mnnt M Mne there ‘coyld mot have hnen a.ny distribytion of appoulmve lines or such leaders as il Texas Compan Baldwin Lot '.h_c steels would motf | have wme M the snap which they lbo'ed Monday and !’ szadn taday. CHICAGO, November 9,—The Stand= N i ) ard Ol Company of Indiana anmounces that, effective today, the price of gas- olime is increased 1% cents a gallon and the price of kerosene 1 cent a galfon. This is the second increase hree weeks and follows an in- CreaseIn the price of crude ol. Branch Offices 45.EAST 42nd STREET 216 BERKELEY STREET NEW YORK : ‘ sosTOoN N Y Ont & West. N Y Shipbuilding.. Norfolk Southern. LR -a&:!i')!;'i Nova Scetia Steel. 0] oma Prod. Ontario Silver..... Otis Stael. §2345588 2 English tradesmen have been seri- ously iaconvesienced Ly the shortage. of copper ¢ for which the blame is lgid on the genny-in-the-slot ma- dines. -~ 3] 23¥ )