Evening Star Newspaper, November 30, 1927, Page 13

] v F OLDRECORDS FALL ON CURB EXCHANGE INANCIAD. NEW.YORK CURB MARKET THE EVENING STAR, WASHINGTON, D. C. WEDNESDAY, PRICES GO HIGHER Received by Private Wire Direct to The Star Office Following is the list of bonds and stocks traded in on the New York Curb Market today: Prices Surge Forward, Ig- ey | “noring Bear News—Ford f. Inflence Is Felt. BY WILLIAM F. HEFFERNAN, Special Dispatch to The Star. NEW YORK, November 30.—It was Bnother record-breaking day of activ- ity and strength on the curb market. Ignoring everything that might have construed as unfavorable, even to, the matter of the extent of the re- cent improvement, prices surged for- ward. : [The most significant incident was Mot the fact that the leaders were able 0 establish new peaks, but that the improvement was almost as pro- nounced as at any other time, despite profit taking, which was heavy at in- tervals. Ford Trade Is Felt. So_much has been said concerning the Ford influence that repetition is hardly necessary, but it was the issues which stand to benefit through Ford contracts that commanded & promi- nent place in_the upward movement. Fprd of Canada itself scored an over- night gain of 10 points to 725, a new high record. _Firestone Tire, although it did not edtablish a new high. gained more than 7 points. crossing 187. Firestone has as its principal customer the Ford Co., and despite the shutdown at the Ford plants was able to make good money during the current year. Heavy buying at new high prices of Trico Products followed the action of directors in placing the stock on apnual dividend basis of $2.50 by dec- laration of a quarterly dividend of 621 cents a share. ch O 60% BEFvie 10 AN iAm S 1Am Super 1 Zmoskeag Co. Gas & 2o, w525 tias Auburn Auto C Babeock & Banaitaly Corp.. 1 Bliss E W n Blum S.. Bohack H 4 Bobn A ¥, 23 eoh B2 RS i 520 ten Cohn-Hall, Marx' Col om'w P 1 D nsol Dairy P n Dairy 0 fon G Balt “onsol _Laund. .. rod A B Venezuelan Pet.. 1Woodley Pet n.. 8% Sales ~ STANDARD OIL ISSUES. in unite. 5400 Xt1 Lobos. 1200 Atl Tobos 100 Buckeve P I, e Etreka P L 2000 Himble Oil Aee T B 200 Ty San 1 12500 Tnter Pet ¢ Lad: 800 Ohio OI 100 Penn Mex Swan & 1400 Vacuum Sales in thousands. 6 Allied Pk 5 27 Alnm Co X Gas & Fl 631 01 are 1111 100% INCOTTON MARKET Private Crop Estimate and By the Assoclated Press, NEW cotton market .opened steady today at an advanoe of 3 to 7 soon showed net gains of 13 to 22 points, on_covering and Liverpool buying. The Liverpool differences between that market and New York appeared to be attracting 2on \broad, while there may have been some covering estimating bales. Private cables reported trade call- ing, covering and continental buying in the Liverpool market and a good cloth demand the turnover was disappointing and yarns were p ¥ il ctober, teleg v 1 7.200 gross tons, tons for October. 89,810 tons for October. lowest since Augu: OTTAWA, Ontario, WHEAT VALUES SAG ON FOREIGN REPORTS Drop in Liverpool Quotations and Increased Argentina Crop Estimates Factor. By the Assoclated Press. CHICAGO, Novemper 30.—Fresh downturns in wheat values here took place early today, reflecting lower quotations at Liverpool than were due. Increased estimates of Argen- tine wheat production continued to exercise a bearish influence. Opening at %4 to 1 cent off, Chicago wheat held near to the initial range. Corn, oats and provisions were also inclined to sag, with corn starting unchanged to % cent down, and later showing a getback all around. ‘Weakness of the Liverpool wheat market today, which had a depressing effect on the Chicago pit, was asso- ciated with liquidation of December contracts abroad, heavy tenders of red Winter grades at Liverpool being looked for tomorrow. Besides, indica- tions pointed to dearth of immediate new export business in wheat from North America. On the other hand, it was announced that European import requirements for the season would total 633,840,000 bushels against 597,- 896,000 bushels last year. Cold wave predictions gave a down- ward impulse to corn values much of the time today. Husking returns, how- ever, were reported as continuing to indicate that final official figures on corn yield will have to be substantial ly reduced from those of November 1 Price Difference With Liverpool Factors. YORK, November 30.—The points and January selling up to 19.15 relatively firm and recent broadening showing of of erable buying here against sales on a private report the crop at 12,583,000 from India, but that sed for sale. IRON OUTPUT STEADY. 2W YORK, November 30 (#).— uction of pig iron in November ly on a parity with aphic returns collected ron Age indicating an output of against 2,784,112 The daily averages tons for November and .Both are the 5. SOFT COAL OUTPUT. NEW YORK, November 30 (#).— Output of bituminous coal in the United States during the week ended November 28 is estimated at 8,850,000 net tons by the National Coal Associa- tion. Observance of Thanksgiving day curtailed production, the loss in ton- nage being more than 28,000 car compared with the preceding Thur 88,240 . 1 WOULD DROP TREATY. November 30 NOVEMBER 30, 1927. POWELL IS NAMED HEAD OF THE “OLD BAY LINE” Special Dispatch to The Star. BALTIMORE, November 30.—L, R. Powell, jr., of Baltimore, has been elected president of the Baitimore Steam Packet Co., or Old Bay Line, succeeding the late 8. Davies War- fleld. He was recently elected presi- dent of the Seaboard Air Line Rail- way Co. “In_becoming president of the Old Bay Line it will be my purpose to carry out Mr. Warfleld's intention of providing the most modern, up-to-date, efficient passenger and freight serv- ice on Chesapeake Bay,” Mr. Powell said. “We have under construetion another vessel of the type of the State of vland and State of Virginia, [ FINANCIAL.' which, when completed, will give the Old Bay Line three vessels of the most modern design and construc- tion,” J. D. Downes, formerly assist- ant treasurer of the company, was elected treasurer. . TELAUTOGRAPH PROFIT. Telautograph Corporation earned 91 cents a share on the common for 10 months of 1927, against 65 cents a share a year ago. Net profit rose to $219,879 from $169,960. WILL RAISE NAIL PRICE. NEW YORK, November 30 (#).— Pittsburgh dispatches say makers of steel wire nails will announce new quotations tomorrow, virtually an in- crease of $1 to $2 a ton. CANADA AND U. S. TRADE OVER BILLION IN YEAR OTTAWA, Ontario, November 30 (#).—Canada’s trade with the United States for the 12 months ended Oc- tober 31 was $1,180,000,000, exceeding the entire trade with the British Em- pire by $437,000,000. While the unfavorable trade balance with the United States amounted to $233,000,000, exports to points in the British Empire were greater by $280,- 000,000 than imports. The total external trade of the Dominion was $2,303,000,000, as com- pared with $2,284,000,000 for the cor- responding period a year ago. The aggregate of exports was $1,225,000, 000 and fmports $1,0 The Sufi Life Insurance Company of America Will Finance Mortgages on Residential Property (In the District of Columbia and Nearby Suburbs in Montgomery County) Without Commission or Bonus = S %, Interest | Under our plan Life Insurance for the full amount of the loan is required to be taken with the Company at the time loan is granted. The net cost of such Insurance is extremely low and in most cases is completely offset by the (#).—The wiping out of the Austra- lian trade treaty and application of the dumping clause to New Zealand butter was urged yesterday by the National Dairy Council. The council in its stand is said to have the sup- port of the Canadian Council of Agri- day. Loadings totals for the remain- ing days of the week were higher than the week before. Tonnage mined in the week ended November 19 was put at 9,945,000 net tons by the United States Bureau of Mines. savings of the usual commission charges for making real estate loans. In the event of the death of the borrower the Life Insurance pays the mortgage and so you . U. 8. Freight Is Feature. United States Freight, despite the fact that it was selling ex-dividend, reached a new peak. Hershey pre- ferred evidently was being groomed 4 Durh Dup P Di 18 B1'Ba ‘& Bn'n"C o 1 1“22!‘ An(‘. . 1% Ein paw-Cor piAl n.. 12 Fageol Mot 014 +out strongly at top prices included for early listing on the Stock Ex- change and reached its best prices. Bancitaly, on rumors of another stock dividend, which would bring total stock distributions this year to 25 per cent, went into new high ground above 130. Tubize Artificial Silk, after having absorbed recent heavy profit- taking, rose spectacularly almost 30 points. Reports that one of the most power- ful banking groups was again active on the buying side of Johns-Manville ‘were accompanied by an upturn of 6 points to its best. Others that stood Bohn Aluminum and American Roll- ing Mills, up more than a point; Mid- land Steel Products, up more than 7 ponts; Maryland Casualty, up more than 2; C. G. Spring & Bumper, Stand- ard Sanitary, Amoskeag, Northern Pipe Line and St. Paul 5 per cent bonds of series A. POTATO MARKET DULL. CHICAGO, November 30 (#).—Po- tatoes—Receipts, 80 cars; on track, 887; total U. S. shipments, 688; de- mand and movement slow, market @ull; very few sales reported; Wis- consin sacked round whites, 1.50a1.65; Minnesota-North Dakota, sacked round whites, 1.35a1.45; sacked Red River Ohios, 1.30a1.40; Idaho sacked russets No. 1, 1.50a1.65; partly grad- ed, 1.25a1.45. SILVER QUOTATIONS. NEW YORK, November 30 (#).— Bar silver, 58%; Mexican dollars 44%. Wall Street Briefs SWENSON ' TEXAS CO.—Eric P. Swenson, chairman of the board of the National City Bank and the National City Co. and president of the Freeport Texas Co., has formed the Swenson Texas Co., a holding company to func- tion for his stocks in various enter- . Mr. Swenson, who took a lead- ing part in pioneer development of the sulphur industry, and his associates have large interests in several prosper- ous industrial concerns. Later the shares of the new company are ex- pected to be listed on the Stock Ex- change. TRANSCONTINENTAL OIL—C. H. Huston, chairman of the Transconti- nental Oil Co., denied reports that ne- gotlations were pending for a merger with the California Petroleum Corpo- ration. NATIONAL LIBERTY INSUR- ANCE.—A stock split-up of five for one and a change in par value from $50 to $10 in shares of National Lib- erty Insurance Co. were approved by stockholders yesterday. The company will now have 200,000 shares outstand- ASSOCIATED GAS.—Gross earnings and other income of Associated Gas and Electric system for the year ended September 30 was $33,767,452, an in- crease of §$6,088,418, or 22 per cent, over the year before. After provision for renewals and replacements, balance available for all dividends of the com- pany was $5,457,778, a gain of $1,799,- 414, or 49 per cent. LOS ANGELES GAS AND ELEC- TRIC.—Los Angeles Gas and Electric Co. earned §23.74 a share on the pre- ferred stock in the year ended October 31, balance available for dividends and sulplus amounting to $4,591,414. After preferred dividends of $1,160,178, bal- ance for common stock, which is held by Pacific Lighting Corporation, was equal to $24.50 a share. PACIFIC COAST CO.—Pacific Coast Co. plans to build a cement plant at Seattle, Wash., with capacity of a mil- lion barrels. The Pacific Coast Cement Co. has been formed to finance and operate the cement business. About 70 per cent of its outstanding stock will be owned by the Pacific Coast Co. ATLAS PLYWOOD.—The Canadian government has allowed patent claims of Atlas Plywood Corporation on its speedpack method of packing furni- ture in plywood packing cases. United States patent claims recently have been allowed. BUSH TERMINAL.—Common stock- holders of Bush Terminal Co. of record December 7 will be given rights to sub- scribe to new common shares at $50 & share to the extent of 40 per cent of their holdings. Proceeds will be ap- piied to redemption and cancellation of $2,300,000 6 per cent preferred at $110 @ share and other purposes. SOUTHWEST P! N PIPE LINE. —Southwest Penn Pipe Line declared an extra dividend of §2 with the regu- Jar quarterly of $1, payable Decem- ber 31 to stock of record Decem- ber 15. NATIONAL RADIATOR~—Public of- fering of 60,000 shares of National Radiator Corporation common stock is Peing made at $39 a share by a syndi- ecate headed by J. and W. Seligman & Co. The stock will carry an initial dividend of 75 cents a share payable December 15. REO MOTOR PROFIT.—Net profit of Reo Motor Car Co. for 12 months ded August 31 was $4,145,792, equal 5 32,07 & share, against $4,257,919, or $212 a share in the previous fiscal year. - Directors have voted to change ihe fiscal year to conform with the lendar year. The next annual report ":u?"be for the year ended December 81, 1927, ) Fajardo Sug Co. . 155 1 Fansteel Prog .1 "35% 3 Foremen 1 6 Firestone Tire. FEO sei” E 17% eal Eloc. . 17 11 Greent Tap & Dic 131 - R ey weasSoog ottt S o BB SRR RERIE et 3 % - S0 8 6 ] 3 4 5 e st s - Py o co0 2000 Lo ko 5 3 0 8 - o R aoprsee S g s BRI S S B R s B R0 2 5 R OP R REESR ESRRRET b tomts o, 3 3 5 % % k] 3% 26 : 3 2 " 9 " oy (o) oo mtsts s oo 2RO T R BRSO S - fores .. v L EESE FERRNRSUIR W N T e - EEat, et Sest o-BemBE G GO - corncS enSert 00 S Nt PS5 0 e 1529 Sasmrsb e vont Sons S = 2 & g Pap. .. Com 101 G&E rts wi coons: A b RLES FRRE R FH - o " - 5oy £ SR $a, eloeen Ho OSSR ERER B RN R RS » “yesmsies » o syt s A 21 27 67 i TR et et o 22ask 1o SRR ERERESE L SRS R s = e e R oo o 3 Ce mgp . 4 51 k 2Bne G M fad'i relca_Croesus.. .04 110 First Thot G M 8 Golden Center M. 20 Golden Cycle Min 60 Golden_State ... .. 3 Hecla Min o i i8S 2 S e i raia Bl 5502 RS F R R OR R Ry e 2 » toishatnite S ZEREERLE, FXECES Sptsharns e St 5 1 West End _Consol .0: 80 weat T gee 04 Sales INDEPENDENT OIL STOCKS. Cro 78 in hundreds. % own % m G & F 78 pid 00 G & 8 147 Am Con Oilfids. . 5 % Em P 88 p1d 108 10! T % P 83, 2 S k3 3 12 Ark Nat Gas 10 Carau 1 Carib 23 City Ser 20 - on 22253 R 520 SERN8EEE e S5 - # Am Maracaibo Co 60 ol g 3 R ) ) o S A A BB RS SO 3D o0 o - eSaman [ S S U ©cor 1031 100 2 Interst_Pow 68 culture. NF The Iron Age composite price of pig iron is down to $17.59 from $17.63 last week and the week before. steel remains unchanged at 2.307 cents for a second week. HOCKING VALLEY SURPLUS. NEW YORK, November 30 (#).— Surplus of the Hocking Valley Rail- road for 10 months of 1927 rose to $3,699,226, from $2,437,119 a year ago. October surplus showed a good gain over October, 1926, $438,782, against $284,602. PIG IRON LOWER. FW YORK, November 30 (#).— Finished 98 1 Jeddo Highl Cl 68 104 25 Kems & Millh 6s 165 25 Kop, % 10 Jugo S i 4 Nendo 7% 4 Merid El 78 14 or 5 Muni Medellin 78 ¢ 5Tnd M_B Fnld 78 100% 100% M B 7s 841, 84 $65,000 FOR CURB SEAT. NEW YORK, November 30 (#).— Sale of the Curb Market seat of Ricl ard W. O’Brien to Willlam A. Scott for $65,000 today increased the record price by $5,000. The previous high record was established in two sales at $60,000 yesterday, while early last week a seat was sold at $45,000. ZONITE PRODUCTS CORP. NEW YORK, November 30 (P).— Stockholders of Zonite Products Cor- poration will vote December 15 on a proposed stock split-up, four shares of new for one of old. D4ls 03 a6t 03 3 Lombard El 78 A 7i4s ‘AL A, ontevideo' 6s° A 9385 B_Denmk 68 10015 ) “okberland, Gs B 10 SHE 5 § 97 174 685 001 90 % 8A Sheri Wyo CI6s. Shubert Theat 65 90 coioc GEBRD DD gacac 3372 FOREIGN BONDS. 97 a7 4 Sales in thousands. 12 Ag Mor Ba 7s 1468 10 A& Mor Ba 7s '47 ambur am S| anover APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY Located in the District of Columbia and adjacent Suburbs in Montgome and Prince Georges Counties, Md. 512% INTEREST Apdly to ' H. L. RUST COMPANY LOAN CORRESPONDENT The PRUDENTIAL INSURANCE COMPANY of AMERICA 1001 15th Street N.W. Main 6888 The Investor SELECTS! He does not merely Buy. INVESTMENT BONDS The Open Door to Financial Independence Systematic accumulation—systematic investment—these are the open door to financial independence and a com- fortable fortune. But careful selection is necessary if one is to invest safely and build up a competence. Select an investment banker of integrity, long experience and wide knowledge, and ample responsibility. Select from the securities he offers you those best suited to your own needs. S. W. STRAUS & CO. offer their services to all investors in search of safety and a good income. Writefor our list of sound first mortgage real estate bonds, safeguarded under the Straus Plan, yielding up to 5%-6%. Ask for ’ BOOKLET 522-G RAUS & CO, 929 FIFTEENTH STREET Telephone Main 5847 WASHINGTON ESTABLISHED IN 1882 Authorities on Insurance General Agents for Incorporated 1890 GO FIRST 0/ I'HE 8age tion pay 6%. MG M0 G MO GO MO MO GV T MBTOG M OGN0 G MO0 G M0G0 G NI 5 IOTD 6 DD MO MR MO0 MO0 MO D e ——— MORTGAGE BONDS Guaraateed First Mort- Bonds underwritten and offered by the Real Estate Mortgage & Guaranty Corpora- They are in 1 to 1o-year maturi- ties, and you may buy them in denominations of $1,000, $500, $250 and $100, cither outright for cash or by payments ex- tended over 1o months. The full rate of bond interest # allowed on all partial payments. . The Conservative Pol ‘ that ‘makes possible = a Direct and Unequivocal GUARANTEE THE Real Estate Mortgage & Guaranty Corporation’s direct and unequivocal guarantee on every bond it sells means simply this: Every dollar of this Corporation’s resources would have to be wiped out before a single investor would be permitted to lose one cent of principal or interest. So strong a guarantee as this is' made possible only by rigid adherence to a most conservative policy—a policy that lower; It is through strict enforcement of such safeguards as these that the group of twenty bank presidents, bank directors, business men and professional men of Washington, who serve as:officers and directors of the Real Estate Mortgage & Guaranty Corporation, feel fully justi- fied in placing every dollar of this Corporation’s resources behind every dollar of your investment. Further particulars «will be mailed upon request REAL ESTATE MORTGAGE & GUARANTY (ORPORATION' 26 JACKSON PLACE G 1 Restricts the bond offerings of the Cor- poration to issues secured by direct, closed first mortgages on income producing prop- erties in Washington and its environs; Restricts each first mortgage to a safe per- centage of the property value—never more than 609, and averaging considerably Requires that the mortgaged property be entirely completed; no bonds are sold against construction projects; Requires that the earning capacity of the property be largely in excess of the amount needed to pay the maximum in- terest and sinking fund charges on the first mortgage bond issue. I Leave Your Family a Home—Not a Mortgage YOUNG & SIMON Leopold V. Freudberg, Manager Life Insurance Department 3rd Floor, Woodward Building — Telephone Main 5180 SUN LIFE INSURANCE COMPANY OF AMERICA icy