Evening Star Newspaper, April 30, 1923, Page 29

t“_. ‘BIG SLUMP NOTED IN NEW BOND ISSUES {fLast Week's Total Influenced by " $75,000,000 Federal Farm ,' Loan Obligations. FINANCIAL. THE EVENING NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office. but lost its in the early dealings, sain hi\el‘ra Seaboard Oil and Gas was activel BY WILLIAM F, HEFFERNAN, EW YORK, April 30.—The curb market today was subjected to an- other wave of selling, which brought about generally lower prices. Trading grew more active on the decline and efforts which were in progress last week to put up special stocks were abandoned. Selling of the oil stocks was stimu- lated by fear of another reduction in oll prices, and losses of a half point to two points were common among this|in & number of the early leaders. group. Standard of Kansas point, to officlal announcement that company had acquired ducing and two more being drilled in. The company recently brought in a 150 and a 125 barrel well in Young county, Tex. For a’time around midday selling subsided, but when renewed buying failed to make its appearance opera- tions for the decline again broke out Wrthe Assaclated Press. NEW YORK, April 30.—New bond fssues for the week totaled $54,069,- B0, more than half of the offerings ¥ eing industrial liens. This compares frith $93.646,000 in the preceding % esel. when, however, the total was $1fuenced by the offering of $75,000 000 farm land bank bonds. During ¥ g1e correspo nding pertod a vear ago | @lmost a point.” D, I algot down a like amount; ‘bll‘hkmg through 9, touched a new an lost over Mesabi Iron while a similar decline occur- 8, time, but subsequently jolned with | Peerless was exception to the tend- the " re! t_Creek producers and | ency, advancing 3 points to *cnnock were weak spots among the | Mot 8 independents. Maracipo was higher otors was well supported at 19, DI“ f the General Petrol- poration, offered at 974 to feld 6.60 per cent; 0,000,000 6 per | nt twenty-four-year first mortgage | onds of the American Smelting and NEW_YORK, April 30.—Following | S o 9915 | I8 an official list of bonds and stoc ng mpany, ffered at 2 I traded in on the New York Curb Ma 100 5 per cent five o fitteen | G today ! “quipment_trast bonds of the Ra rad Compa Sales in BONDS to vield 5.14% to thousands Hig! » depending on Alled V’mkevq 6s.. ¥ 000.:000°6 her Cent ten " P Shar new, .nu Retall Caudy t e " 11 41 T4 & Heat pia nion Pipe w i i Pipe pf w i ah Tdaho Sugar.. ol T & T 6s 24 Avaconda 6s Anaconda 75 Anglo Am " 0il “Tige 1 Am & Co of D Sias c1d 6.75 per cent. yment in May in 1 3 R West Feed" .. ¢ 7 Reaverboard Ss 1 Yale & Towne new 611, 611 s 4 1 Beth " Steel 2 Yel Taxi Corp N Y 141~ 141 141 Bank bs, due fn] § Deth Bteel 7s MINING. 5 : Alaska Brit-Colo. .. 8¢ Am Commander Ain . B Ariz tlobe Copper PPLICATION FILED | i i 10 Detroit Edison 6s.. Borton Mani’ Corp. p 7 Dunlop T & R 7s. Butte & West. 2 wiaveran |uy||\nr 5 Canario Copper Caudel ialena Sig Of1 2 Grand Trunk 6ls.. 9 Gulf 0il of Pa Bs 1 Tiood Rubber 10 Inter R T 8s + Electria Power Com- application with the rission for au- S Con Cop Min te of Comstock ~ Tun Cons_Nev tilities Com thority to issus §5,908,000 worth of Prov Mines & per cent bonds. Most of the issue Cortez Silver will he used to retire outstanding SressontGold Crown Reserve o a small part of it i 20 Divide Extens cimburse tha company E S Doloves Heper . res made for exten- TN Y C &St L6s CL ¢ will retire{ 6 Pul ear bonds. curities to >a $1.100.000 worth of 7 per cent over from a leaves a bal- to cover improve- | Deep Min i Washington Stock Exchange SALES 10 ar 9 1a & Howe Sound .. Independence T Canital Traction . | 30 Tron lossom AFTER CALL ! a i | AT Maney—Ca & per cent [ BONDS i Bid and Asked Prices. PUBLIC UTILITY. Sales in Bid. Asked. | units o, i 00 Anglo Am Ol . .. 1o ¢l 800 Atlantic Lobos = 65 Buckese B 1 Pt 101y 200 Continent. 0il new. 40% 197 11614 = Red Hill Florence . 1245 Imp Ol of )0 Inter et hmond Copper 0 Reorgan Div Annex Red “Wur e St Anth G Min lra Sandstorm’ Kendall Snowstorm Sii Head 5000 Vacunm Oil new. .. S roapal Min 100 Washington 0il Thited Eastern 1 United Sales INDEPENDENT OIL Imp Mines. Ta hundreds 4 United Verde Bxt. Atk Nat Gas 101 S Continental. ity Gold Ttah Apex 7 West End Consol Wett Lorrain Silver . .» Carib Synd sTbCKs PUBLIC UTILITY. STOCK MARKET. BOSTON, April 30 list of today's highest, iclosing pri for stocks dealt in here: Terminal Taxi prd. NATIONAL BANK. Low. Ahmeek & el Com Albany < and Méchanies'] Arizona Boston & 4 Humphreys 01" 5 Independent 0 & G. 20 Invaders O of D Natioual Buuk of Washin, TRUST COMPANY, curits and ‘Trust.. ! Hardy Coal | Island_Creek ~ | Tl “Royale A : | Tibhy NeNeil & Libby.. 61 61 e "ol B¢ e 19 Mount. Prod 13 il i Mount Guif . ! we B ta 011 Vot % i o | North Rutte ] o 0id_ Colony DIl .. 24 Omar 0l & Gas 2 Peer 0il Corp . 1 Penn Reaver 13 Pennock Oil Roy Can Oil & Winone new TODAY‘S METAL MARKET. 280 Southern P & 1 ot INDUSTRIALS. Northern, 30.50232.00; Yauston Monotype, .. ... ncurits *Stora; = Washington Markei ... y; Spot, ivery, 6.8526.90. timony, spot. 7 around the previous close in response ; o sixty-five ! acres in the Luling Field, Texas, upon ! which two wells are at present pro- | resulting in further fractional losses | National Supply at ene time was oft | d W, coal i gated $232,288,995. red in Prairie Pipe Line and Imperial |low record., whil i C e Hydrox, Midvale issues for the week DN, of Canada. Standard of Indiana |and Dubiliér were others that went §10,000,600 6 per cent five- g0 Beling, tor | lower, Durant of Delaware lost over & point. | STAR, . WASHINGTONL MON GET $1.25 PER HOUR. cial Dispatch to The Star. LOUIS, April 30.—Wages of carpenters in this section will be in- creased from $1.10 to $1.25 an hour | May 1. Roofers will secure an ad-| vance from § 5 an hour, with | foremen Hoisting S i D. DAY, “to $1.25 for one scale, and from $1.25 to $1.37% for another scale. \metal workers will be boosted from $1 to $1.25 an hour. We Will Manage Your Rental Property, Experience has en- abled us to Improve our Service to Clients. May we be of Service to you? RENTS B. F. SAUL CO. Mortgage Loans 1412 Eye St. N.W. Phone Main 2100 By Radio Daily at 10 o'clock from Sta- tion WIAY of Woodward & Lothrop the latest quotations will be broadcasted. Rates by private wire from New York. Special phone, Foreign Depar‘~ ment, M. 8222 The Washington Loan and Trust Company 900 F Street 620 17th Strest | Bacureq by Brat deed of trust on real estate Frevailing interest and commi, ]oseph 1. Weller 43 "';;‘_ L & Teuar The First Mortgage and the Company It Keeps HE most important thing in connec- tion with the purchase of a First Mortgage Note is the house which offers it for sale. The oid saying that a man is judged by the company he keeps can also be applied to the purchase of a First Mortgage. An unquestionable record in the han- dling of safe investments for many vears is not only a reflex of what has been done in the past, but is a definite assurance of what will take place in the future. A house which has safely m vested millions of dollars for its clients in the past may be expected to exercise the same care and judgment in the future. Swartzell. offers all clients Rheem & Hensey Company of these safeguards to its Swartzell, Rheem & Hensev Co. 727 15th Street Northwest 54 Years Without Loss to an Investor NO LOSS TO ANY INVESTOR IN 50 YEARS Safe Securities Confidence in the securities one owns means peace of mind. } In direct competition with the best grades of securities our Safeguarded First Mortgage Investments have gained a Following is a | lowest and the most active meeom .. A : 1 30.—Copper, et 45 Thrman o1« 1% : ‘iic, spot_and futures, torage. 100 {96 Wileox Oil & Gas.. T h 16%. Tin hlflfld), spot and near- ... 182 futures, 45.50. Iron xtudy. No. No. 2 :oulhcrn. 7.62a East St. Louls, spot An- 12 Bridgept Mach w i 18 Brit-Am Tob Cou. . Brit-Am To Co Re 1 Brit Inter Corp A 28 Bkivn City R R i CALL MONEY HIGHER. | ¢ YORK, April 30.—Call money | high, 51z; ruling rate. ng bid, 6; offered at 6% ; last | If you have money to *all loa - 14 Buddy Bud: : ., Call Toans against aceept 30 Car Lignt invest, we can safely place to nincty days. ent. Ter it on gilt-edge first D. C. trifug lron Fipe ccker Caf Mfd A Chicago Nipple Chic Steel Wheel. Chic St Wheel pfd "4 Clevelznd Motor . 6 Col Carb Co vot 1 Curtiss Aero... 1 Cosgrave EX Bre Mortgages. Our record of 30 years insures your pro- techou. Courteous trut- P H. Russell Co. H FOREIGN EXCHANGE. ' April 30, 1923-12:15 pm - WQuotations furnished by W. B. Hibbs & Co.) Nom Selling checks | 1, D L 8 old v Lo 314 ondon. pound......__. =4 30 s 23 Dubiiier c"‘."’-f.“"“ 12 SW Cor. 15th & “K” Sts. 24 39 Durant Motor 3 Durant Mot ot ‘Tad 20 Dupout Motor % Eouitable Trust .. 1 1 El Bond & Sh pfd 10 Federal Telegraph 135 Gillette Saf 13 Glen Alden_ Coal 81 Goodyear Tire 1 Grifiith, D W 2 Heyden Chem Investigate Our 8% 5-Year Coupon Mortgage Notes. nlereat payable quar- terly at any bank or tr pany. Conservatively A wonderful opportunity to in- vest with safety and get PSR e e 1 Lehigh Pow sec .. 22 1 Lupton, F M ¥ the Associated Press. r , April 30.—Foreign ex- Quotations (in United Great Britain, 4.63%; Sixty-day bills on 14 France, demand,| 3N ¥ Canners w b , demand, | 13 N Y Tele Co pfd. Belgium, de- 1 North Amer P & P. % 0 0881, Germany, 2 Pat'rson Bros To A 14% 141, R e e B i Net on Your Funds J o 1 Phila Elec Rts w Jiolland, -39 7 Prima Radio Co. 6 . Amounts of $100 Up to $5,000 905 1. L sweden, demand Apply Mr, Kelley | Capital Mortgage Co. 924 Mlh Strut Main 36-37. . demand zechosiovakis, _ demand ‘Argentine, demand, .36 Montreal, 1, demand, .1 well deserved popularity. Maturities: 2 to 15 Years Denominations: $5,000, $1,000, $500 and $100 ke F.H.SMITH CO. 1873 FIRST MORTGAGE INVESTMENTS 1414-1416 EYE STREET, N, W. . “One Bank,” He Said “is much like another.” He be- lieved it, too, when he said it. But he soon discovered that Banks are not all alike in serv- ice. Now he says “All banks are alike, but differ in service.” He likes the way we handle accounts. We feel confident that you will, too, at any of our three locations most convenient for your needs. “Double Your Savings—It Can Be Done” Merchants Bank & Trust Company Capital and Surplus, $1,250,000 15th and H Streets N.W. Branches: Dupeat Bank, Dupent Circle Brookland Branch, 12th and Newton Strects N.E. APRIL Sheet Money to Loan 30, 1923. EQUITAB Co-Operative Building Association Organized 1879 434 YEAR COMPLETED Subscription for the 84th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSO! FRANK P, REESI Spoichecd oo i snt et wsia Toana. i First Mortgage Loans VI"!Il Rates of Interest and Commission Prompt Actien Tiom.u J. Fuher & wmp-ny. Inc. American Cotton Fabric Corporation 7% Cum, Preferred Stock This corporation —has no funded debt —ecamned the dividend on this stock 10% times in 1922 —furnishes a basic product to the largest tire makers —manufactures only under contract ~has already sold its entire estimated output for 1923. Price 101 and dividend GRAHAM. PARSONS X Co, PHILADELPHIA NEW Yorx WASHINGTON 40S Hisss BLDG. Telaphone: Main 2655 for the purpo tors (o serve for the ensuing ting vpon proposed amendments 10 Art T, wection 1. and Article 1. Section 11, of ¢ yermitting any vice president. in t of the president, to sign checks. stock créating and defining the | istant secretars. and The question is zka] why the investment units of the DISTRICT GUARANTY CORPORATION Are being withdrawn from the market in Washington on May 19th simple—the | w1 The answer is BUY NOW! 'IJ‘AI. AGENT ton - --D.C. 5**$t.ndw. Tel.Main 6710 OUR money effort, perha; money with us. COMMERCIAL Capital 7th and Mass. Ave Boxes at Very Moderate Rentals Government Employees Successful business men, and children for years have been showing high con- fidence in the American Security by depositing their Lz HOME FINANC CIAL. Dean, Onativia & Co. Stock Exchange Building New York ) STOCKS and BONDS MEMBERS: New York Stock Exchange Chicago Stock Exchange Associate Members of New York Curb Association WASHINGTON OFFICE: Main Floor, Woodward Building Office Open Until 5:30 P.M. Phone Main 2040 JOHN CALLAN O'LAUGHLIN Manager To the holders of Federal Land Bank 59, Bonds Dated May 1, 1918 Dated January 1, 1923 Not redeemable before January 1, 1933 Alex. Brown & Sons Tie Oldest Banking House in the United States Baltimore, Maryland Safe Denestt Same Rate of Interest Paid on Large and Small Accounts OFFICERS: LLIAM D. HOOVER. . = CHA 5 allotment for this territory O "4:' WILSOY. i P R. ULLMER.. Asst. Sec, will be sold by _thxt date. Rl THER e If you have waited to buy— PAVID BORNET. . Aset. 1 wiliamiwertihe || National Savmgs & Trust Co. Oldest Savings Depository in Washington ~ Cor. 15th and New York Ave. 56th Year Depositing Money is the ps, of vears. ery Banking Service 3% ov savives 15th and Penna. Ave. and S 8th and H Sts. N.E. Travelers’ Checks, Letters of Credit, Foreign Exchange The above bonds have been called for redemption on May 1. which date interest will ceasc. For investment of the proceeds we offer and recommend Federal Land Bank 4,9, Bonds Capital and Surplus $2,000,000.00 result of successful effort—the You do an important thing when you deposit your money in a bank, and you express high confidence in the bank. wage earners, Surplus, $5,400,000.00 SAVINGS BRANCHES # COTTON GRAINS COFFEE SUGAR New York Cotton Echange icago Board of Trade New York Produce Exchange Minneapolis Chamber of Commerce CHARLES R. ALLEY Assistant Manager Due May 1, 1932 1923 on Due January 1, 1953 Now Serving 42,000 Depositors —AND OTHERS, find in this time-tested insti- tution a hank that meets their overy re- quirement as a depos- itory for their savings —Convenient location, every banking facility, courteous and_efficient service, stability, and the highest rate of in- terest consistent with safety If we are not already serving YOU we shall be glad to have you open an DIRECTORS: | Wm\dmry Blatr ‘Wiillam D. Heover ! account THIS PAY DAY and join our big family of 42,000 prosperity-builders. G Our TRUST DEPT. Serves in All Fiduciary Capacitics. James A. Buehn‘ln H ke iMor Keoffmasn Charles Minshall 3r. Edmuna D. Bhesm Frask Stetaon Frank W 8 William A Heory K. W1 » Reginald 8. Fuit=oper ’ women TRUST, 430 7th Si. S.V.