Evening Star Newspaper, May 29, 1922, Page 17

\ FINANCIAL BONDS. Mvedbyl’rlv-u‘Wln Dluct to ‘The Star Office. - B On New York Stock Exchange. lanqukCtrbMfllnt- HANGE Quotations nn-.n-nu wm«;:n:—-mu Press. | Quotations furuished by the Associated Press. llluh sk Week’s Offerings Drop Be- low $100,000,000 Average. NEW YORK, May 29.—Public offer-i 30 mh;h"» Ings of new bond issues last week | 7 City of Kern again fell below the $100,000,000 aver- | 3 City of Bordeaus 53 1 age maintained since the firat of the | 25 City of Coj 7 cf Lyous year, the week's offerings totaling 4 m; d x-i-me. e approximately $70,000,000. While| 4 ity S e 03 & there was =a slight stiffening of money rates the decrease is attributed to the desire of banking and invest- ment houses to let the market get =ettled preparatory to some heavy railroad and industrial financing which is now under w There were few substantial changes in bond prices last week, quotations generally moving irregularly within narrow limits, Liberty issues were 4 e strong, the 3is and several o 4y s selling at par or better on fair- 0 & of 3 s 981 '-“. g% {:luslnr Mch, 1y heavy turnovers. The strongest features were among the raiiroad is-} 150 piyoneNediter <ues, including convertible, income | "8 R of |Chile” & 1946, and ' refunding mortgage bonds\ of ‘uba 5 % o | 200 3 R uch roads as Erie, New Haven, Texas L 3 and Pacific, Chicago and Alton, St. 3 L os e < Am Zinc & Leagd. ... 19% Louis and San Francisco, Lake Erie| § e s Anaconda. and Western, Pc;;e nargzleue. w&-m; 117% " 3 50% A.whm’h"ao“. ing and Lake Er cago Great| 10 Um Kgim is o o ot Wastern. Colorado Southern and the | 282 Un Kadm 51 ] Hoo Ratle Qo eom.... : oormeniry ot St. Pauls. 28 Un Kgdm 5% * 1028 1600 Reo Motor Truck.. Atlanta Bir & Atl.. 4% Public utilities bonds featured new U 8 Brazil 8s... Ty : 500 Republic Tire. 8 .8 Atlantic Line 104 tssues, six blocks of those bonds| 81U § Mexico 5s. i 6% 68 | 4400 South Coal & £ : sl totaling $58,571,000, being offered at U 8 Mexico 4s. 100 Swift International. 2 4 Athnuc:ru“ e fces to yield from 5.15 to 6.75 per RAILWAY AND MISCELLANEOUS, '-'Wl” bas ucts. . e 4 % | Aflantic u““f cent. Chief of these was the $35,000,- Al Rt Ak , . Atlantic Gu! 000 5 per cent issue of the New Eng- AmAgrE Uiaw Austin Nichols. land Telephone and Telegraph Com- Am Siaelting pany, which was three times over-| 3 A 1005 1004 subséribed before the books were Am 5 5 g opened. These were offered at 97 y to yield 5.15 per cent. but they sold & R R %k:‘h:‘cfrfia 1, point above the offering price on 7 A the second day. Th Tu;fl‘l‘gn-:“dllu elins el i 100 oo STANDARD e only foreign bond issue T 250074 was that of the United Steamship Lines, Ln 82 i | 1800 A;’,‘_‘;fi“g‘;;fll ch disposed of $5,000,000 in € per 3 10 Eureka' Pipe cent bonds to a syndicate which offered Braden Cop Gs..... i 2| 28 Galena Sial ON. them at 95% to yield 6% per cent.| 3 Bkivn Ed gen T | D. 107% s 0735 Imperial Ol Canada However, several foreign issues were f Gas & B 3 25 Ohio 31 in prospect. While several South Amer- ¢ & r'-::m":;»':‘ ican countries are in the market for it 7 8 loans, they recently have shown a Gentral Teather 56 disposition to seek tenders In London, Cen Pacific gtd is N7 where bankers are reported to be offer- 12 ing them better rates than they can obtaln_here. Argentine and Peru are iwo of the countries reported to be |- negotiating in_the London market. Among_the large offerings last week were: $12,471,000 Utah Light - and Traction Company’s first and refunding mortgage twent: at 91 to yield 36,000, Brooklyn Union Gas first lien and ‘re- funding mortgage twenty-flve-year 6s offered at 105 to yield 5%: $1,750.000 g 2 25 Columbia Sugar's first mortgage sir ¥ 6a. o1 200 Citien Service prd.. g ten-year 7s, offered at par to 88 871, 87% | 100 Colom Syn.. o and $2,344,500 Rock Isian Col G 5a A 4| 300 Columbia Pete e to thirteen year 6 per cent equip- 3 200 Cosden Co (d ment trust notes, ofered to yield from ) 520 Creole Syndicate. 5.10 to 5.70 per cent. There were also o 2 F3 e mayier Retrsienm enty municipal offerings _ranging 4 : . R from $28.000 to $800,000 at prices to £ ‘ 1100 Gilitiang O vield from 4.15 to 5.375 per cent. B % %l 3400 Glenrock on ATHGHERPREES By Special Leased Wire to The Star. NEW YORK., May 29.—The week began with signs that underwriting syndicates were inclined to go slow, at least for the time being, to give the investment market time to digest the record-breaking volume of new securities which have been put out since the first of the year. ‘There J4 Kan City 878 Nete no mew offerings of importance| 8 Kells-Spfa Tire s 108% 108 over the week end = i I e %% 9 An interesting incident of the day . was the outcome of a $2,447,000 City :L:.:.“\-fxfl;'a:m ped of Philadelphia thirty-year 4 per! 20 Louis & N ref 5 cent loan. Representatives of the city | 19 Market 8t & 9 9! 2300 Bim o sinking fund put in the highest bid— £ 107 ~3200 l-"' = 101.76—and got the award. ! s 98! brod = One of the features in the bona market of the day was the strength s i Alioue it o . it 100 Ventara t (E1) “Twin City R Tri up over half a poin o time 5 Du Pon nCity R Tran.. 0% 104 and the 7%s making a similar T A.. 98% 06% 2100 Wiieox 0. Lo gain and selling at 102. or ; 4000 “Y"* Ofl & Gai Eastman Kodak.. Union OI1, s B. F SAUL Co This improvement _reflected the R X Elec Stor Battery. . 3 ) o hopeful sentiment in banking circles L m e e m, MINING. Elk Horn Coal. ... 3% t e 1 regarding the proposal for a German Ty 7 £ 5 3 = loan. the bulk of which would be de- T Fitwon et 61as 100% B el © 3 s 1412 Eye St. NW. Main 2100 BEEEE 3 u-‘s.':; PR BEE nm Hes B e ‘“&'5 o] 2 FEF L _iiz%l%“ii&i;‘-‘fii i 'lmh Amn pL. W% Northern Pacific. .. ‘"l( -3 *338ieagerzgsganay s"smf - & SREER . N EE RSB e a e L EREEE SEREEEEEE @ 858 Traction Co. 1st and Refunding Mortgage | 5% Gold Bonds Series A, due Oct. 1, 1944 UNCONDITIONALLY GUARANTEED s y3ogl = Eingraiijenzyanay,t as to principal and interest. by Indoru all!. by thc LIGHT CO)IPMY Jagennyg .t & Price to yield about 5.70% Complete circular on request The National City Company Washington—741 156th St. N. Telephone—Main 3176 : gois 3§§§=§ California California Petrol ?;:axor"l‘:m;:; - m’ PROPERTY OWNERS . .eynolds . 4% CELLEN' ESTMENTS Canadian Paclfl Reynolds Spring.. ¢% “l-“ffifrnnnm n;ra-mun oN Central u-::-;' - Royal Dutch....... §% AND BUILD ALL TYPES, FUBLIC AXD Central Leath pf. 3 ¥ St Joseph Lead. ... 4| GENERAL GARAGE CO. St L & San Fran. .. 1419 G ST. N.W. CASH OR TERMS. s 1':3:: :‘-‘::; 0 MAIN 4481. B R Bops > [ 23 FrEEE £ W OFE T T g e _.aesqsu..;.ims-uanfi 2 w3 el Golo & Southern. . 0% | Sterling Products, Columbia gu e A phed Stewart-Warner. bia Graph. .. 2 g::::m:cn“ ot A 5= The papers tell the pllgh‘t Comp Tabulator. of those who sacrifice se- curity for PROMISED big returns. Profit by their lesson and invest in an ab- T Gulf Sul; solutely safe security, TR & Poctnn s ent vielding an adequate re- turn — like our First Mortgages. ?}g:fi:?’“n'” In amounts of $250 TraneConti On . 2 s : Over a Quarter of a Dome Mines. ...... 0 Transue & Willms. 4 o« Century Without a Loss Boli R0l FERRERER FREE BN e PR e SR HE = -1 FRPFFFS TAEFPE aBal BRLE e Bk Ban mreliu RS Ral BEEE,! FFES FEF = G P 2 > n..;’:'ziza;-.s & BEol - BEREE..8! Ed o ZuaaidBae) ' voted to reparations payments. NH &Hev6al0d48 825, Denmark Ss Higher. Denmark Ss were up a point, to 111. United States war loans were very little changed, but held around their with the fourth 4%s selling at p: Railway bonds were even less af. fected than rallway stocks by the ac. tion of the Labor Board in reducing ! wage scales. With B. & O. shares above 50 for the first time, the bonds of the company moved scarcely any. Erie prior 4s gained a half & point and the convertible Ds made a new high across 58. Louisville and Nashville 5%s were also in demand close to their high. The sharp advance in Marland start- =% ed an eager buying movement in the t 321, convertible T 'bonds, which car- G mm 101% e em above 110. With the copper metal at 14 cents na T 80 lfl' 108 and more active interest in copper |- securities in the markets both here 4 and abroad, the two most representa- tive issues dealt on the New York oy Stock Exchange. Cerro de Pasco 8 214 and Chile Copper 6s, were conspicu- { 2 cusly strong. Brooklyn Rapid Tran- sit 5s and 7s were the leaders in the public utility group. Erle. . Erle lfl L. Fairbanks Co. . 24 RSk BoikEERa e W U S Cast Ir Pipe. 2% $5,000 Lif; n = e Policy, 357.35 U Hotroan b, : B, Send, Sate of bith for wiaaizy U g Indus Alcohol. LR ROy COr, Tasarance 22;:‘. z All branches. Room 610. Woodward buiiding. M. 368 EQUITABLE | Co-Operative ‘Building & 21 8-53¥ 2 (S el w FEECTRPEEERY PEFR EF S0 ..;e..él.. S e CEEEREEETEF R SRR PR 2 - *® 1f you make up your mind to save in a systematic manner and stick to it, you will accomplish more than ever in % i}l = toancial way. Westhse K& M. . g2 s Wheeling & L E. . i ubscriptions for the v\\;:fi:xglg‘:g.nn:: b Sp 2 83d Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, Presldent FRANK P. REESIDE, Secy. Sk BaBRENaBE 2B BeBaabitiRE,, LT, ‘s_a-zzsa'zs' $53: SEETRIESS " A 1400 Tonopal { 2 4 1000 Tonopah Jim B: 8 1 Tofluplll Res Eula FORD MEN BUY HOMES. | & R T Tt SN S Rell Tel 2000 H h o 3 > Thrift System Aids Buying of | 6 fouth Pacite nE o mn Al % Vielen i [+ by 500 V oo . . ar-Time Houses. s (i % Dol oa | 5000 White Cape WYANDOTTE, Mich. May 1 Sou e % S PRl e Henry Ford's emploves bought ‘ma- | 5 Golih por'mfwa fa. 86% 9815 S Al Peds jority of the seventy-nine United "A States Smpping ~Board " war-tlme | S Somad on Leldeh N 1% “"{.,'; a0 5 Allied Packer s m;s g=y5e3esss 298 §380emy 9oy opmgnsluncoul, o~ 3 2% 's'a_'su_n.'a' & W % mes sold here at auction for $209,- | 1 a5 D an average price of $2.643. Ford 5 Tidew flfl l"&l tfs. 1027 l”’% Motor’s big tractor plant at River| 2 Tob Products T 108" 108 Rouge is only a short distance from Dl Pacific 1 gz;. 1% the government housing project. The on Pacific thrift system, which is part of the Ci 1081 1027 industrial relations policy of Ford aited Drug 8s % 11 Motor, was responsible, say the em- Inv 1at 55 ployes who bought, for their being Ri T able to finance their purchases un- assisted. The terms were made easy R by the Shipping Board, 70 per cent of i 5 By the purchase price being permitted to % 1: m'fi.‘{m i remain _on mortgage for three 96 8 Ci Ser 78 D. years Prices are far ahead of any bs . 975 9T o e & yet obtained by Uncle Sam in the - 7 Commionw. 80 90 | Kansas liquidation of his war-time real estate L ... 65 64% & o1 ““"'7,‘3}‘&'.?"‘ Tt ventures. Until this sale the best ser 5 previous price was that of 32,341 & | 13 Westinehomse. o % Gop Exp Asmn 80 02 | 108" | BT Spring Tire. . 51% Rouse at Lorain. Ohlo. Two hundred | 3 Wickwirefpen 75 .. 908 008 B Kennecott. . 88t and thirty-two dwellings were sold Ths 10414 104 7 ¢ q for the Shipping Board. , %2 Wikconsin Ca"gen 1n ‘B0t 0% YoraR ses: oF bouds sods? were SIE 00N compared with $7.632,000 Saturday and bolidey MAY AUTO RECORD LIKELY. |a vear axo. NEW. YORK. May 29.—May is ex- hec(p: lto r‘,’e ;'l‘\e hlg'efnhprmh:cll'on BANANAS FOR GERMANY. mont in the ory of the auto in- Dusiry. and unless whotesale cancella- | BERLIN. May 29.—Some large ship- tions cut down tremendo ) ments of bananas from the Canary. business now on bool Islands have just been placed on the makers, the industry will continue at top speed until middle of July. This | market Bere, and in spite of high ‘iz the opinion expressed by Automo- | prices the fruit is expected to find tive Industries in its -mmym review. | o ready sale. The arrival of these M facturers. of practically popu- Y Jor maices of cara are now far behind | {rults proves the possibility of plac- on, their orders, It s declared. ln;-fl,‘wm Indian bananas on this “If cancel ns are prospect.” | market, assuming the import restric- it “there are no lndkamn of it ,'D:Y‘B“,'“ e brl_'k o "has | tion against British products s not bheen for two -onth: As demand B ey it anifis to. angther, 5o coun! t sl o :h:re is :.’ diminution in the total. (lvm not begin in earnest gas ifi Easg* &, 0 SAN FRANCISCO, May 29. e UREY of California Co-operative Crop Report- ing.Service indicate good conditions gen- erally: Weather was favorable during Nk latter’ part of April, pasture ex- Gollent and live stock continues. to fmprove. Tiie movement to market of grass-fed cattle will be somewhat! later than uSual on account of the cold winter and abnormal spring wem;er Hay-fed-cattle are mavuul L §§! b - P R e P ‘ii“‘:’ e i to market. NEW YORK, May 20.—Not only has ' the vogue foy patent leather made’ it- selt very evident of late in women's fiin.wigr but there are indications' of a of its popularity “in men's | shoes for fall. While it is mostly seen footwear designed for formal evEn- | g Eu FHLE - $5¥ B3=Einse g3avEyes 55s l -high L s i the: ';:3:: for squalls, | #eeping a weather e ‘'nd up to this time they have shown' [ dlvpoomon to cast caution aside, | they did when buying was at its Kk in 1919 and 1920, It is admitted valfile Rubber am:hn ihey huve smple plant- eapa=ity rrapgements with benks et ol wicos for @ long tiun a ‘1319:1321 F St. N.W. & & A ‘Few Very Desirable : Offices Left . Reasonable Rents LIBERTY BOND EXCHANGE 608 14th St N.W. Hours, 9 a.m. to 5 p.m. Protection Against Depreciation. Prompt Payment of Interest. Repayments of Principal in Full at Maturity. Choice First Mortgage Investments $100—$250—$500—$1,000 WILLIAM S. PHILLIPS Realtor 1409 N. Y. Ave. NW. Main 4600 Waahr'nyt;m': Oldest National Bank Household Affairs —run more smoothly when home finances are handled with efficiency. In this, nothing helps more than a Household Checking Account at \.yalkhington's OLDEST National ank. 11 A Special Dept. for Ladies is main- tained, and every facility provided for their convenience. Inquiries as to this special service are invited. 2 Safe Deposit Boxes—Trust Dept.—3% on hv(nu Organized in 1814 N tional Metropolitan Bank Capital, Surplus & Undivided Profits Over $1,500,000.0¢ 15th St., Opposite U. S. Treasury—108 Years Old FIRST MORTGAGE NOTES FOR SALE IN DENOMINATIONS OF 500 DOLLARS AND UPWARDS %flé/ ‘;f %flefi 4 %. 1207 Connecticat Senue First Mortgage Safeguards The Safeguard of Valuable Land Land is valuable for one or both of two reasons: first, because of its loca- tion and surroundings; second, because of the building that is erected upon it. Valuable land in the City of Washing- ton, improved with an appropriate, modern structure, is the very foun- dation of our 7% Safeguarded First Moflgnge Investments. ; Whenwetellyou the appraised value of the hndgwenas.ecuntyforafim mortgage loan, you know that the ap- yumlhnbeenmadebymmumuon mth49yeusofupmm,udgng