Evening Star Newspaper, May 3, 1926, Page 31

FINANCIAL NEW YORK CURB MARKET Received by Private Wire BY WILLIAM F. HEFFERNAN, NEW YORK, May 3.—Lower prices were the rule in the Curb Market at the start of the week, but selling was 1ot heavy enough to bring about any waterial change in sentiment for the outlook for the future. The market was taking its cue from the action of the general body of stocks on the hig board, which was reflecting to some extent the latest development n the British strike situation. The decline in General Electric new » &round the 80 level, where it com- vared with the Saturday final of 8113, was sympathetic with lower prices for he old shares on the Stock Exchange. taking company stocks were subject. i to further selling pressure, notably eneral Baking class “A"” and Con- tal Baking “Al. Domestic an- ite stocks did little one way or other, Lehigh Valley Coal cer- cates changing hands et a slight actional improvement. Last week’s vise of almost 6 points in Glen Alden ‘oal was based on expectations of avorable dividend action at the meet- & scheduled for May 11, when an ease in the regular rate or an ex- NEW YORK, May 8.—Following is « lst of bonds and stocks traded in on the New York Curb Market today with the volume of sales and prices 1p to and including the close of the ‘BONDS, High. Low. Close. TIEEEE, it S it Serv it § PAL G n W Pap 6 - L SRR 2532225282825 5; 33 Goodyear T&R 2 Gyr T&R Hias *31 0 nd_Trunk 614 100 f 0 Corp bs... 100 > Kevs TC P 548 1 Lehizh Pow 6s 259 2333 Z5225: Do onSon & &8 PP SIENEE =520 50 i, 25220 e R i) 233555800 e 2 FERPEEES 2 cdddam BRI IT EEEE 55! F23 BRIRIREERZIGRSAERRIRB=2S e ntioqua 78 A.. ntioqua 7s B. aden 78, » 22 Ll S g5 0323 57 or ‘ologne auish Cons Gor 6 194,95 o5 ane 55 nmen F R8T RN N H2009S Do OmODDIDDY: CECEREERREFE 3 ot BSe & 39 Thys 13 West, 50 Eureka P L. .. 4000 Humble O\ &R’ 53100 Humb O&R n wi 1100 Imp O of Can nw 16700 Int Pet Washington Stock Exchange | SALES 1 (@pital Traction Ge—S500 at 9%, $500 | al 908, Capital Tra 10333, 2 at 103 Ri Ston Monotype—10_a 0 3t 857, 10 at 85%. | AFTER CALL. Norfolk & Washington Steamboat Co.—1 Money—Call loans, 5 and 6 per cent. Bid and Asked Prices. BONDS. PUBLIC UTILITY. 230, ;sx‘:mm Monotype—10 at 85%. 10 nl Am. Tel. & Tel. ctl ‘Angcostis & Pot. R. R. Bs. Ans. & Potomac guar. 58, P. Telephone 5s. P Tel. of Va. Georgatown Gas 1st § Potomac Elec. 16t bs.. . Potomac Elec. cons. Bs. s 1083 " . & ref. 222 -t age STOCKS. PUBLIC UTILITY. \merican Tel. & Telga..... ital Traction .......... ahington Ges ... Norfolk & Wash. Steamboat g‘onm Elec. pld.......... Floc wr & int Wash. Ruy. & EI Commercial District ... 5 5 & Mechanics merican ..... TRUST COMPAN can Security & Trust Trust o Natiopal i'niod Trust........... Wash. Loan & Trust. SAVIN tommerce & Savings. East Washington. . Savings & FIRE INSURANCE. shies 200 130 ‘remen National Union.'. TITLE ¢ olumbia Title.. i Real Estate Titie . Title & Inv. Co. of Md. com MISCELLANEOUS. 45 80" 108" ioi 110 S e +Ex dividend. {Ex righta, tra distribution is looked for. Direct to The Star Office Glen Alden, however, aid little today. Among the oil shares both classes of Humble {ssues came off a point to 2 points and Prairie Ol and Gas gave an appearance of weakness at times. American Maracaibo rose well over & point at the outset, but this proved to have been nothing more than & fiash in the pan and the price sub- sequently dropped back to the Satur. day final. Redbank Oil and Reiter Foster, which had been responding last week with Humble Oil to the latest favorable developments in the ! Throckmorton-acreage in Texas, failed to do anything further. Declaration of another extra dividend of 25 cents a share on Standard of Indlana, the same that declared for the three | months preceding, had a steady effect {upon the market for that stock. The rise of more than 4 points last week in Auburn Auto proved to have been too sharp and realizing sales were attracted by the higher prices. These resulted in a drop to 52, where it compared with the previous closing of 55. Stutz Motors did better at intervals, but the improvement was too slight to be of any significance. 200 Nat Transit 105008 O N'Y 900 Vacuum 0Oil Sales in INDEPENDENT OIL STOCKS. hundreds. 1'Am Con Oilfids. . Am Mara Co 3 Ark Nat Gas & Beacon O} Cardinal Peté Carily Synd .. e P DA s i FREE S8 rz SR s S ismeiee A S B e &F % 3T oo o » G emioun S oS B ¥ PERS F SPEREE 8L 7 Mex Panuce 28 Mount Prod 5 New Mex Lan 1 Beer Oil Corp. i 12 e D13 S S S 3 D 5 S #, tais g 2z anisiis ® 5 8 a 1 Water 011, 4 Tide Wat Oil pfd 87 Venezuelan Pet. o Warner Quinlan. 0 &Gn B men o R RS ot Se e ot B LT PR 0 is e ewe 1] 4 Do INDUSTRIALS. s LpCon ounseDaso-1me: 200! B ER BB A B G S B, ey 2200000 1esese L & Trac.. 208 L & Trac ptd 106% P & L n b4 FE ST EEOWRE F e - eSen ows Wi ackst V G looming orden_C FESS EEEE »60 ¢ P o & . Lo S e S S FE AT R P e 513 2 Sl 5 333033t t Yh CB 5 S0Ca00¢ e EEE R 3 FPSEE Efretae it ey ESITTE T ST 10moscsisb B Kb cseca i) B g 19020050020 Do s DI D R0 RGBS EE PR FEGEE GG 239 BT PIREODIO oI Curtiss Aero M. Dunhit Totf 1. urant Mot ) oS ToYe & " NSO e DN o EER PR R et e P IS IS OSSP oz, whrsa0n P o 8 1 o # B: 1 1 1 2 0 [ 2 2 ;8 1 1 o 1 1 3 8 4 B 2 i 3 2 3 0 8 9 3 5 8 ] 7 7 8 8 H 5 1 2 8 3 4 3 5 1 ] 1 4 1 i ? § 3 9 a9 5 3 1 ?v 3 4 32 o o FER FE JIGEREE JSPEE v ) e FEE FIESIFES FER F NEEE ISEee BT 10 ™ 2GS eGom o - &30 BN 13 308 01 -1 0 1 LSRG IO DA B S e b S R appiness C S Hazeltine Cory oot N S parons = - g S e 5 Sales. Val C Sales. 1% Lib Owens Sh G Mengel Box ... 3 wfl Shent Uil 1Mid W Util ptd. 32 Mid W Ur?r len s. - 2O BoG@ontsE cor= Db sl s S e FLee a 3 22052 3 £ esiseBans S (3 i BB BE 2 L s o Bk RSO W E T FRE SRS F - S5 abhiisrcrsisn s BHRSSESRERERY P AT SESET Pittsb & Lake E. ot & Gamble. & L. e 1o SR [T 2 Reo Mot . 3 Rickenbacker Mot *{ Roval Bak T Shred Wheat 8 Sierra Pac 9 Serv El Corp A. 18erv Bl C A of d 1Sou Gas & P A. 28 South P & L. 13129 s onsess s P T 13 s mouseian oawmnm BaNEREIE RS 2 Cen S o SBOBLx 5 ey - & o oo D 5512 B e Ao s i 19 s v I s o Ty t FARE R SRR BE R O hegiss Sty S KX EER etk e b e * 1 Hollinger . aill i‘flrnnt v DPC . 8y pper Cor. 1 Xew ‘Coreita Cons Disaing - Oranda & istalme 2319 limiin b &, e Sl 2930 5] SN B Bt HB - o 8% F ¥ B ‘WOOL INTEREST GAINS. | Special Dispatch to The Star. BOSTON, May 3.—Indications of in- creasing interest in desirable wools on the part of mills are seen in local wool circles. Business in Montevideo wools is picking up, and there is a fair {1, | movement of fine Australian staple. | ritory combing wools | in small amourts, usually at the low range of prices. Pulled wools are in steady demand . ® re moving | THE EVENING STAR, TRADIG 5 QUET INGENTERHARKET Dry Weather in Nearby Vir- ‘ginia and Maryland Has Effect on Crops. reported the usual quiet ition of the market this ot much coming,” one morning. remarked, “and mnot much of them going.” Tt is sald that dry weather in nearby Maryland and Virginia is having its effect upon vegetation, growers saying | they are much in need of rain to ad- vance the Spring_crops. Reports from New York quoted | ut- ter at a fraction of a cent lower, while the Chicago reports placed the price at a fraction higher. There was no change reported in the local market, and prices of most commodities were substantially the same as those re- ported at the close of last week's mar- ket. Market Prices Today. Butter —Fancy 1-pound prints, 46a 47; tub, 45a46; store packed, 30. ggs—Fresh, selected, 2%all; hen- nery, 32a33; current receipts, 28a29. Poultry, alive—Turkeys, 35; Spring broilers, 50a55; Plymouth Rock broil- ers, 1 to 2 pounds, 55a60: smaller, 40845; White Leghorns, 40a45; Winter chickens, 3 pounds and over, 40ad5; fowls, 33; roosters, 23: ducks, young, 30; old, oung, 80a90; old, 45a50. Dressed—Turkeys, 40a45: broil- 'S, 6 fowls, 35: keats, young, %0a and medfum, 13! lambs. 16a17. Meats—Beef, 16a17; lamb, 28a35; veal, 20a23; dressed pork, heavy, 19; pork loins, 34a35; Western, 30a32; hams, 30a32; shoulders, 22a23. Fruit and Vegetable Review. Today's market report on fruits and vegetables, furnished by the Market News Service, Bureau of Agricultural Economics, says: Apples—Supplies moderate; demand light, market steady; barrels, Mary- land 'and Virginia, A 214-inch Wine. saps, 5.50a6.50; A 2%4-inch, 4.50a5.00; boxes, Washington, medium to large sizes, extra fancy Winesaps, 2.75a .00; fancy Delicious, 3.60; extra fancy Romes, 2.50. Asparagus—Supplies moderate; de- mand moderate, market _slightly weaker; South Carolina, 12-bunch crates, green, mostly fair condition, very large size, 5.50a8.00; large size, 4.00a5.00; small size, 3.00; Maryland, Eastern Shore, 2-dozen crates, green, very large size, 7.00; large size, 6.00; medium size, 5.00 per dozen. Cabbage—Supplies Lberal; demand 1ight, market steady; South Carolina, barrel crates, pointed type, 2.50a3.00; 13-bushel hampers, 1.26a1.50. Lettuce—Supplies moderate; _de- mand moderate, market steady; Call- fornia, northern district and Arizona, crates, Iceberg type, 4 to 5 dozen, best, 4.50a4.75; fair quality and condi- tion, 3.50a6.00; North Carolina, 6-peck hampers, Big Boston type, mostly 2.00; South Carolina, 2-dozen crates, 0. Onlons—New s supplies mod- erate, demand light, market steady; Texas, standard crates Yellow Ber- mudas, U. 8. No. 1, 2.40a2.65. Old stock, gvpt, approximately 110-b. sacks, vellows, 4.75. Potato Market Firm. Potatoes—Supplies light; moderate, market firm. Old _stock, Michigan, 150-Ib. sacks Russet Rurals, U. S. No. 1, 8.26a8.50, mostly 8.25 New stock, Florida, double head bar- rels Spaulding Rose, U. 8. No. 1, mostly, 11.50. Strawlfrries — Supplies liberal; de- mand moderate, market weaker; North Carolina, 32-qt. crates Missionarys, early sales best, mostly, 8.00; fair quality and condition, 6.50a7.50; later, best, 6.50a7.50; poorer, 5.00a6.00. Tomatoes—Supplies moderate; de- mand moderate, market firm; Florida, 6s, ripes and turning, wrapped, fancy count, 7.50a8.00; choice count, 6.50; 2165, 4.50a6.00; poorer, fancy and cholce count, 5.00a6.50. String beans—Supplies light; de- mand moderate, market firm; Florida, 7g-bushel hampers, green, ordinary quality and condition, 4.0024.50; few best, 5.50. Carrots — Supplies light; demand moderate, market steady; Texas, bush- el baskets, 2.25a2.50; mostly 2.50. erate, market steady; Texas, baskets, mostly around 2.50. Peas—Supplies liberal: demand mod- erate, market fairly steady; South Carolina, bushel hampers, Laxtons, 3.50a3.75; small pod varieties, 2.00a2.50; some poorly filled, ordinary condition, 1.50a2.00. Cucumbers—Supplies light; demand moderate, market steady; Florida, demand | Beets—Supplies light; demand mod- | bushel | square bushel crates, No. 1, 6.00; No. 2, 0. industrial bonds.” First Mortgage Bonds. Have Overlooked These Advantages SHORT time ago a man whose holdings total about $50,000 told one of our representatives that he had never bought a real estate bond. “I confine my » he said, “to railroad, public utility and Now, however, this man owns a goodl; Our representative showed him how, by converting approximat WASHINGTO. EVERYMAN’S INVESTMEN BY GEORGE T. HUGHES. Rules for Legal Investments. #5,000 MAY 3 Money to Loan MONDAY, i intorest and commission, 20 W Sacured Ly first deed of trust on real estate. George L. Ware David €. Campbell Gertrude A. Daley at Age 30. Send Date of Birth for Full Information. LeROY GOFF Imya 610 Woodward Bldg. Main, Investors can learn much about the analysis of securities by a study of the conditions lald down in the laws of the various States under which bonds become legal investments for savings banks. As was shown in the immediately preceding article, the fact that a particular bond is a legal investment does not in itself make it a suitable purchase for all investors. and the banks are expected to and do use discretion in making their se- lections from the official list. It does, however, throw light upon the whole investment problem to examine in de- tail just what it is in the concensus of opirion of the best authorities that makes a bond safe enough for & savings bank. For this purpose I am taking tbe provisions which were inserted in the bill when it was proposed to make gas and electric bonds legal in New York State. The bill failed of passage, but its provisions illustrate the princi- ple involved. The first relates to the nature of the business of the com- pany and the obligations of which are under consideration. It set up that the company must be in a business of supplying electricity or artificial gas or both amd that at least 76 per cent of the gross operating revenues must be deriwsd from this business and not more than 16 per cent from any other one kind of business. In other words, admitting that the electric light and gas industry is stable and essential, the corporation must devote at least three-quarters of its effort to that business. The in- tention is to guard against the dis- sipation of profits made in this branch of the utility industry by experiments in other linew. It might be that those other Mnes would be equally safe, but the law takes no chances. Secondly, the corporation must be subject to regulation by a public service or public utility commission or some similar regulatory body. The purpose of this provision might not be evident at first sight, or, at any rate, it would not have been evident a decade ago. It is now, however, recognized that regulation by the b State is in the interest of the investor | < as well as of the consumer. k3 A bond s safer when it is the|r obligation of a company which can|y cover the interest charges twice over| < and at the same time asks only a|g fair price for its product or its serv-|'c jce. Other provisions in the proposed ” law would have covered the matter | : of earnings and State regulation is depended upon to look out for theq > subject of rates. In the next article| 1 shall take up the rules governing capitalization and earnings of cor- porations the bonds of which savings banks can buy. — Betore You Invest—Investigate, It's queer how careful a man can| be after he's lost his money. Abe Martin says that a man who {s not | satisfled with 6 per cent and his money are soon parted. St COMmTI The Danzig government is con. structing, at Glettkau, a radio station|y to furnish communication with the|r” rest of Burope. oo |9 i Prompt_ Action First Mortgage Loans|’ Lowest Rates of Interest and Commission |9 Thomas J. F,l.lllef & y, Inc. |~ N i—— [ REAL ESTATE LOANS aeantet wovems 1907 BUSINESS PROPERTY RESIDENCE LOANS AT LOW RATES FRED T. NESBIT Investment Bldg. Second Notes Parchased Funds immediately svailable for second e el et “Maryiand oo ] We Buy and Sell Liberty Bonds Treasury Notes Etc. Bond Department The Washington Loan and Trust Company 900 F Street 620 17th Street y amount of tely one-third of his holdings into Smith Bonds, he would have greater diversity, safety and stability, and an additional in- come of about $250 a year. You, too, should add Smith Bonds to your list of in- vestment securities. investor in 53 years. NEW YORK PITTSBURGH Our current Mortgage Bonds will pay you 634% or 7%—approx- imately 409, more than the current average return on other classes of high-grade investment securities—and each issue of Smith Bonds is protected by safeguards that have resulted in our record of no loss to any MINNEAPOLIS ings of First For copies of our booklets, send your name and address on the form below. THE F. I-,Iw. M§Mlm Co. SMITH BUILDING: Washington, D.C.—Main 6464 | BOSTON BANY NO LOSS TO ANY INVESTOR IN 53 YEARS 192 give prompt attention to ap- I plications for I should you have | —we can also take care of you. Our experience, extend- | ing over a period of We Beg to Announce That Stocks Mr. .Ernest F. VerWiebe 0dd Lots Carried on Margin Buck & Company —BROKERS— Established 1916 312 Evans Building 1420 N. Y. Ave. N.W. Tel. Franklin 7300 Direct Private Wires to New York as Manager of Our Local Office 206 Investment Bldg. GEORGE L. WARE & CO. | Boston Washington, D. C. Brockton, Mass. Money to Loan on We will gladly receive and Loans on Washington Real Estate Current rates of interest. —desirable improved real estate located in the Money to Invest s o s Nation’s Capital. [SHANNON. & LUCHS) Thirty-Five Years 713, 715 & 717 14th St. —insures your protection. Percy H. Russell Co. 926 15th St. N.W.* There Are 120 Pay Days in Five Years of Hard Work What will you have to show for them at the end of that time? By Regularly Saving a Little Each Pay Day and applying that on the purchase of a “First Mortgage Note Secured by Washington Real Estate ‘Annual Return 6Y2% You will have taken the first tow; Financial lndepem!me.m e Investment Dept. HANNON - & LUCH 713, 15 and 17 14th St. Main 2345 THE PRICE OF SUCCESS —in investment is not dear. It requires of you only the logical consideration of the factors which affect your funds’ wel- fare—principal protection and Has Become Associated With Us Lt R O S ) o8 interest yield. Our e 6%9% FIRST MORTGAGES of a - - 2 —meet every .\ZUEI_\' require- ment of the conservative in- vestor, with a wide margin to spare. Their interest payments are prompt as promised. For a third of a century they have been preferred securities. B. F. SAUL CO. Main 2100 925 15th St. N.W. Century Without a Loss Water and Investment S the constant dripping of water wears away the stone, so the constant in-* vestment of your savings in sound securities gradually but surely, wears down the spendthrift habit. Investment in our First Mortgage Notes keeps you from extravagance and offers - you protection—and 63 % as well Swartzell, Rheem & Hensey Co., MortgageBankers' -- TRTAS Street, LV, WashindionDiC. 57 Years Without Loss to An Investor ¢ FINANCIAL. f Equitable Co-operative Building Ass’n\ JOHN JOY EDSON, President FRANK P. REESIDE, Organized 1879 46th YEAR COME Assets .. e.....$5,031,814.80 Surplus e $1,352,719.93 Subscriptions for the 90th lIssue of Stock Being Received SYSTEMATIC SAVING is the most effective means o1 ac cumulating money. Results have established this fact. Join the Equitable and save systematically and you will accomplish in a finan- cial ‘way more than ever. [Join today. Seeretary 1 TED Al SHARES g 915 F Street The New York Life Insurance Co. Offers to Make First Mortgage Loans On Improved Real Fatate in the District of Columbia and Nearby Suburbs in Montgomery County, Maryland FOR 3, 5 OR 10 YEAR PERIODS 5Y2% ON APPROVED SECURITY Apply RANDALL H. HAGNER & GOMPANY MORTGAGE LoAN GCRRESPONDENT 1321 Connecticut Avenue Telephone Main 9700 Apartments Office Buildings Houses Business Properties We announce the removal of our Washington Office James Donald Cassels, Manager to 1508 H Street, N. W. Our new telephone number is Main 9277 EDWARD B. SMITH & CO. PHILADELPHIA Members : Puruaveiews 7 > Srecx Excrawcrs NEW YORK BOSTON Niw Yoxs ~ Bosvon May 3,199 You’ll Enhance —your business standing in the community, as well as have access to the most modern banking facilities, when you carry your account at The Metropolitan. o iy L} L5 i National | Metropolitan | ... ".oh... 12 Bank 12 Years Y ears 15th St. opp. U. S. Treasury O1d Old 2z, A Postal 6%2% —or phone call to “Main 9300" will bring you our informative and interest ing new booklet— “A Common-Sense Talk on First Mortgage Investments™ OSSEXHELPS 1417 K Street—Main 9300 For the Thinking Investor Selected ’First Mortgage Notes, constituting a first 61/,9, demand on twice their face /2 o Convenient Amounts of 5100 and Up, Un A Sounders Co= Founded 1433 K Street—Main 1016