Evening Star Newspaper, January 3, 1926, Page 37

N FINANCIAL, FINANCTAL, SUNDAY STAR, WASHINGTON, D. O, JANUARY 5, 1926—PART 1. ¥ THE | BOND SUMMARY FOR THE WEEK Low. High. Lew. Last. Yisld cholce light which was CHICAGO LIVE STOCK. butcher CHICAGO, Janu 2 (Special).— | the market. ng was ng today with | howe 1925 GOOD BUS YEAR. CANADA’S EXPORTS UP. Some went to § BONDS CLOSE 1925 ON SOUND BASIS Some New Issues Must Yet Be Digested—High-Grade Lines in Demand. BY GEORG al Dispatcl v YORK 1025 in the invest with an unexpected.y sudden de ment of interest in bonds of a g just below the best. Current quc ns for all classes only a small action below reached in De- 99-8 High. 0§ 1084 Low. High $T% HUGHES, ent market closed rentiated from n that ther buying I'he buying 3 om real vestors, mostly financia with funds they were forced to e ploy. In other words the market was in a thoroughly sound condition. The only question that made was in t issues, & good many of which have vet to be Huge Interest digested ments. JrInous amounts dividends on | 117y, a0, 105% an ) over the [ 101 a wested in securitie t s, and the aggress the back- bone of the support for the bond mar- ket Apparently tightening rates has been without effect, even on prices for securities ordinarily re sponsive to changes in prevailing in- terest charge. rhe gradual fall in the reserve ratio of the Vederal Re- serve Banks and the high rates asked 1 »n on the by the of money tively low Quotation or which were obtain hs at 5 per keeping down of th \Iu:l authorities were : period of cas in the ear prices for bon siderable period after v «d defintely upward. Bonds Ignore Stock Moves. ’ umpm.m.m of stoc] There was n occasional reflection of the! tive bidding up of the seasoned rai way dividend paying stocks in their vorresponding bonds. E in lh\" eculative railway descriptions diseri E than in s On the vertible y Large profits h 1 made in this| g the past 5 n, th som p the themsclves. A new offering .arries any privilege of this de tion always is quickly oversubsc Investment bankers . have not xlow to take advantage of this ton. French Bonds in Limelight. In the foreign list attention is s oncenirated on French bonds. one time during the week there w setback in the French ds, but still not to the low which was reached in | oring. The way these! bonds have held up against| . discouraging developments in finance has been one of the | of the market of the vear.| the direct obligations of the | republic, the decline in the| 1 between January 2 and De- 5 nly from about | £ e At Of course, oan are Tuctuatior might reasonably o show u lars oubtless they 925 101-29 99 15 Liberty 3vs 1933 102-30 101-1 101-19 100-16 Liberty 24 ¢ Loy (] Tty % 108-9 10810 104-13 Treusury 6%s 1905 108% Am. U. 5. BONDS. Liberty 16t 4 1011 Liberty 34 4% 101-20 Liberty 4th 41 FOREIGN. Argentina 6s A 1857 Argentina 7Ta 1927. Anstrian Govt 6s. Austria st 7s 1943, Belzium 6s 1965 Belgiun: 7%8 1948 Belgium 85 1341. Bordeaux 6s 1934, Brasil 8s1841... Canadn 69 1952 Canadu 5lys 1929, Chile 85 1936, Chile B3 1941 Chile 85 1946 Chinese Govt Copenhagen 6% % Czechoslovakia 8s 1 Denmark 6s 1942 Dutch East Indies 63 184 Dutch East Indies 65 1963 Frencn Govt T%s 1941, French Govt 88 1946 Gernian 7s 1949 Holland-American's ¢ 63 1947 Japanese 48 1931 Japanese 6348 1054 Jergens Utd Margarine 63 1947 Lyons 65 1934, Marsellles 68 1934. .. Neatherlands 6 1972 Paris-Lyons-Med 6s 195! 4 Quecnsland 68 1947. Queensiand 7s 1941. de Janeiro 8s 194 Sao Paulo. State of, 8s Seine, Dept of. s Serbs Crotes Slovenes Sweden 64 1939 Swiss Blis 1945 . United Kingdom 54 United Kingdom Eu. 1937, 104 INDUSTHIAL P47 Amer Agri Chemical 738 1 66l Amer Smelt & Ref 1st 65 1947 Smelt 1st s 194: 9nt; Amer Sugar B0 Bethlehem Steel p m 53 19 93% Bethlehem Steel s 1 5 106% Detroit Edison ret ¢s 1940 94% Dodze 8 '41.. s 971 Empire Fuel & Gas T%81937. 100 Goodrich (B F) 638 1947. 10742 Goodyear Tire 88 1931 Indiana Steel 68 1952 82% Inter Mer Marine 631 7% Liggett & Mycrs b 1951 97 Manati Sugarsf 7%s 1943, 87% Midvale Steel ba 193 99 New England Tel ba 112 New York Edison st 834 100% NYGasELH& P bs 15 9515 New York Tel 4%4u 1938 106 New York Tel 65 1941. . £33 Pacific Gas & Elec 55 1943 $2% Pacific Tel & Tel b3 19 101% Philadelphia Co 95 Public Serv Sinclatr Of Ta. 1"1 105% Skelly 648 1927, % 102 South Porto Rico 8 €3% Union Bag & Paper 1004 United Drui 6s 1944. £5 U SRubberlist& 1043% U § Rubber 75% 104} U S Steelstbs 91 109% W 918 Wilson & Co 1st RAILROAD, 28 Atehison gen es 1990 9 Atlant L1 £6% Balto & Ohio gold £9% Baito & Ohlo cv 4% £5% Balto & Ohio ref bs 1024 Balto & Ohlo 68 192 99-22 101.26 100-21 100-29 102-1 106-14 Prov. week's AND MISCELLANEOUS. . 108% 991, 1074, 10 £3% B&OPIttsLE& W Va 451941. .. 95% B & O Southwestern Div § cfs 50 8§24 Brooklyn-Manhat s £ 63 A 1 116 Canadian Northern 6%3 194 79 Canadian Pacific deb 4 64 Central Pacific 4z 1949 94% Chesapeake & Ohlocv 41381930, £7% Chesapeake & Ohlo gn 4% 8 19): Chesapeake & Ohio cv 5a 1946. 44% Chicago & Alton 3% 1980, 100% Chi B & Quincy 1st ref bs 1971, 71% Chi & Eastern 11l gen ba 1951 593, Chi Great Western 4a 1959 ChiM & St Paul cv 4%8 1952, 77% Chi M & St Paul gen 4 %8 19| 4315 ChiM & St Paul ref 435 2014 44 ChilM & St Paul cv 68 3014. 107% Chi & Northwes! 78% Chicago Rallway: 831 ChlR I & Pacific ref 4s 1. 914 Chi Union Station 438 18 116% ChlUnlon Station 6%s 1963 76% Chl & Western Ind con 48 1983.. . 1024 C C C & St L ref 65 A 192! 104% Cleveland Term 5%s 1973, 90% Colorado & Southern 4%s 193 £3% Cuba RR #s 1 101 Delaware & Hudson §%s 193 $2 Den & Rio Grande con és 18 55 D. & R. G. We 1968.. 70 Erie lst con 4219 61% Erle gen lien 4a 19 63 ErlecvdsA 1953 €9% Erh cv4sD 1963 1084 G £6% Hudson & Manhattan re 67% Hudson & Manhattan adj .u" 5 101% Illinols Centrul 8345 1934. 1 Richmond D-alers Act After Rise| in Wheat Market { The Star Januar Spacial Dispateh 1 in prop o bakers have not sed the price of bread mor © of the louf been changed, pected if the adyunce in PORK PRICES CONFUSED. 1 . Januar . with the result tha 1| weight of hogs received | 111 it the leading markets has increased | 88w 591 Inter Rapid Tra 5 Luke Shore 48 1928 5% Lake Shore 48 1931 91% Louis & Nash unified 43 1940, 104% Louls & Nash Isc ref 5i5s 20, £47 Mil Elec Ry & Lt ist ref 6a°6 1025y MSLP & SSM 6%s 1931 80 Mo Kan & Tex 1st 48 1990 76% Mo Kan & Tex adj 68 1967 56 Mo Kan& TexprinbsA 1 €21 Missourl Pacific gen 924’ N O Tex & Mex inc 93} New York Cent del 99 1064 New York Central deb 6a 136 93% N Y Chl & StL5%5 74 £9% N Y West & Boston 4358 1946 €84 Norfolk & Western con 48 1956 125% Norfolk & Western cv 6s 13, 60 Northedn Pacific 3s 1347, 83 Northern Pacific 4s 1937 96% Ore Short Line ref 4s 1929 §1 Ore-Wash 1st ref 451961, 91% Pennsylvania 94 Pennaylvania 99-18 101-20 100-16 10023 1 10127 106-8 9920 1 57 101+20 396 100-21 894 100-28 391 NEW YEAR STOCK S MARKETLVELY ton. 1am Motors Lead First Trading of 82 Year — Profit - Taking 9614 1004 86 Heavy at Close. uoeT 197% By the Associated Pross. NEW YORK, January 2.—Opening of the New Year on the New York Stock Exchange today was celebrated by a bullish demonstration in the motor shares. Both the rail and in- dustrial averages showed moderate gains on the day, despite rather heavy profit-taking in some issues. Trading was unusually heavy for a half ses- sion sandwiched in between two holidays, total sales exceeding 1,000,- 000 shares. The run-up in the motors was re- garded as the traditional demonstra- tion in that group on th Ve the opening of the New Y mobile show. Chrysler soared over nlne points to 213, ing two points below the top; Gen- eral Motors chHmbed 6% to 124%. iludson showed a net gain of 6% to 117% and Mack Trucks moved up 5% to 157. Chrysler (new stock). Jordan, Studebaker, Plerce-Arrow common and prefarred and White showed net gains of 1% to 4 points. Sales Check Oil Advance. Heavy realizing sales checked an early advance in the ofl st have been heavily bought lon merger ors. General Pe leum touche the highest p o4l since it listed in April, and Simms touched its highest 1 in_over a year. Rails also were subjected to heavy profittaking, although Delaware and Hudson was bid up to 165, the high- est quotation since 1913, and then eased to 162%, where it was up 2% on the day. “Katy" preferred ad- vanced over a point to 93%, the highest figure In over a year. Standard industrials displayed a strong undertone. United States Stesl common closed nearly a point higher at 136%, Baldwin showed a tractional gain 1303 and Amerl- can Can moved up 2% to 295%. American Smelting sold at 1443, highest price in nearly two decades. Kresge Breaks 35 Points. Mixed movements took place among specialties. Remington Type writer jumped 83 points to 121% a new high, and \Woolworth climbed nearly 8 points to 218. Net gains of 3 to 7 points were recorded by Callfornta Packing, du Pont, Federal | Mining and Smelting, Fisher Body International Business Machines, > tional Cloak and Nuite buck, South Porto United Drug, United vestment pret Cast Iron Pipe. S. S. Kresge broke 350 on one sule. International Standard Milling and Union Ta were conspicuously heavy Trading 1n the forelgn l-xrlmngen was extremely light hanges generally up. T ling held firm around $4.54% French francs were slightly at 376 cents. vecently ro. 100% 115 104 yT8 107% 101% ON SAVINGS We are getting more new Savings Acconats than any bank in Washington we are doing something real for the Central Savings Bank » Tader Government Bupervis 710 14th St., Near ( Francis M. Bavage, President Member Ametican Bankers' Association WE FINANCE ~—all elasaes of income-producing property Large Loans a Specialty Current iot. rate and commission Higbie & Richardson, Inc. 816 15th St. N.W. UNION DISNCOUNT €O, 1 OF NEW YORK First Mortgage Bonds DENOMINATIONS: $100.00 to $1,000.00 Atfmciive Partial Pagment Fias WILGUIN (& E112GIBBOS, INC. SOUT] LDG. SAFE 614% and 79, First Mortgage Notes For Sale GEO. W. LINKINS 1733 De Sales St. blished 1886 DO YOU NEED MONEY We make loans on improved real estate. Also construction loans on new property . OR Have You Money to Invest? Wo have a choice llst of First Mortgage Notes secured on bigh- grade prope N. L. SANSBURY CO,, 1418 Eye St. N.W. Thone Maln 5004 Inc. highes | Many Companies Co-operating With Electric Car Service. NEW YORK, January 2 (#).—In an annual summary of the national elec- tric rallway and bus situation, Luclus 8. Storrs, managing director of the American Llectric Rallway Assocla- tion, finds that 1925 has been marked by distinct progress in the local trans. portation Industry. Electric car and bus service, he says, Is being rapidly co-ordinated under single manage- ments in most communities, electric lines are being modernized, credit is belng slowly restored, and the public, realizing the necessity for good com- mon-carrler ser: under respousible electric rallway agencies, is showing an Increasing desire to work with local managements in solving current prob- lems. “The bus has proved a great tool in supplemental service,” Mr. Storrs sald. “It has not demonstrated its ablity to supplant the electric car, largely owing to its Inability to handle crowds quickly, but it Is useful In serving new territorles when traffic does not warrant the laying of rail lines.” Money to Loan e by firut deed of (rust on real estate r..-..ln. gt sl commiie® Fireont BN William H. Kyle Loans—Insurance Room 15, 1410 G St. N.W. Phone Main 6637. Res., Frank 5191 have some excellent first and sec- ond trust notes for sale at u liberal discount. ares, Which | e sem— e Continental Trust Company Capital One Million Dollars 14th & H Streets WE PAY MORE INTEREST ON SAVINGS ACCOUNTS Than An{ Other National Bank in Washington Interest on DAILY Balances Come in and let us explain Commercial Nat'l Bank 14th and G Streets Resources $17,000,000 When You Have Funds to Invest, Consult WELCH, Loan Specialist Established 1809 6.5 and 7% Real Estate Notes for Sale in Amounts from $250 up to $1,000 or More. Consult Welch, Realtor Loan Specin 15th and New York Ave. THE NEW YEAR Right by Investing in Our 612% FIRST MORTGAGE NOTES 1d more keenly i Clarence 1. Mortgage Department TAFRIT C[]MPAN th & K LOANS We will gladly receive and give prompt attention to applications for Loans on Washington Real Estate Current rates of interest. Should you have Money ‘to Invest —we can also take care of vou. Our experience, ex- tending over a period of Thirty-Five Years —insures your protection. Percy H. Russell Co. 926 15th St. NW. INVESTMENT COUNSEL After more than a quarter of a century’s never a loss to any investor, we continue to recommend, as the safest type of investment security, experience, with our | f value 10 ¢ Recent Monthly Showing Best R(—-:‘ Hog tra corded Since 1917. Special Dispatch to The Star OTTAWA, Ontarlo, January = Canada's favorable trade balance tallng $62,748,355 for October, largest excess of exports ove for any month since 1917 nearly $30,000,000 more than the for October, 1924, according Dominion burean of statistics, | Increases of more than $50.000.000 In the totul trade 2 pared with Octobe tered during the sets forth. T 347,869 and $17 Increases in the valie of products, amounting to were responsible for the lar f1 gain, t was the | fports FIRST MORTGAGES FOR SALE Denominations of $250, $500 $750, $1,000 and Upwa: 6%2% All Loans Made on Property Located i the District of Columbia JAMES F. SHEA Rovercan TeLepsone awo Trveeap Company BELL SVSY[I The regular quarterls of Two Dollars | it 5 1o nts on a brisk de- | packing hogs sol tle and <heep trade was of [and good pigs w Good dem nd le 3 Earning an Income is usually the result of a prop- erly handled Business Prop- erty “buy.’ however, we ac- “properly handled” s & Middletonhx® Heege REALTORS 1412 Eye St.NW. 'anl(lin95°3 - remember, Dollars Invested in Business Properties d d carried ' fresh supply was small at Cents ($2 on January 13 of fecord at the cl December 19, 1925. H. BLAIR-SMITH, Treasure When You Need a Loan Think of WELCH, Loan Specialist Money to Loan At 5% % and 69, Interest Before Placine or Kenewing onr 1at or Znd Trust Conrult WELCH, Realtor Loan Spacia Quick Reunonuble 15th & New ¥ Main 4346-43 The Grant Oil Burner “Best for Homes” “Come and See It in Operation Demonstration Room—Engineering —Now Open— 1705 De Sales St. Salesmen Wanted '| Grant Oil Burner Co. Insurance Bldg. Main 8515 W Your January Fund 61/2% Whether rate of int tain of 11\ principal d upon who back of the you and iny The ] Morigage Notes V¢ tsk Our Mortgage Investment Department L7155 and T I4th St N, ! can epends hen Placing Be Sure That They Yield Not Less Than 1 et this entirely estr own for Details. & LUCH Main 2315 THE MOKRIS PLAN BANK \nnot mees the opening of BOND DEPARTMENT Offering for Sale 6% BONDS Firs ‘he principa GU Secured by lortgages ARANTEED by I and interest of which are THE MARYLAND CASUALTY CO. ith Over 32 Milliox These Bonds May Be Purchased of Dollars of Resource On the Deferred Payment Plan 6%2% FIRST MORTGAGES Your principal is protected by improved real estate. interest payments are assured If Desired, and 59, Interest Will Be Allowed on Monthly Payments While Accumulating Sufficient to Buy the Bonds $100—8500—$1,000 For Complete Information Call at the Bank or Write for Our Booklet 0 to 15 pounds, as compared with a | ss% > review. 938 15 caused | 9a% scarce, with prices, while more plentiful, | Rlo Grande Western cit 45 154s oo be 84 RIATK & L 4348 193¢ Quarter d in m Wout Denominations of a Century 7ut St L & San Fran inc E 591 Seaboarli Alr Line ref 45 1959 5% Seaboard-Alr Line adj 5s 1949 845, Seaboard Air Line con 6s 194/ £6% Southern Pacific cv 45 1929 8¢ Southern Pacific col 4s 19 $7% Southern Pacific ref 4s 1 73% Southcrn Ry gen 4s 1004 Southern Ry lst 1065, Southern Ry dev 6148 13 3415 Third Ave adj 65 1960 0% Union Pacific 1at 4 53 Unton Pacific ev 4s 1 % Virginian Ry 1at ba 196; 00 Wabash 1st 6s 1939, Wabash 33 : 6314 Western Maryland 43 1983 90k Western Pacific 6s 1946 1% West Shors 1at 48 2361. - regular by our own methods ot Without a = A financial management. In Amounts of $250 and up. B. F. SAUL CO. Main 2100 v, higher t tras (32 score) Loss \thered, ‘ and poorer, ; nearby hennery \\hum rby. and | THE MORRIS PLAN BANK Under 1408 H Street Northwest 58N 91 {100 1014 earby Western Supervision U. S. Treasury o average extr nery brown: 925 15th St. N'W. 79% 2 Other Financial News on Page 35l e