Evening Star Newspaper, December 12, 1927, Page 15

»” 4 at about previous quotations. “- thelr redemption price of 115. * City of Syracuse 8%s, to 4 per cent + the way in which demand for tax 2 debentures authorized last Spring on ! likewise improved. The metal group . was a trifle easier, and the recent FIN e TRADE 1S SLUGGISH . INBOND MARKET lew Issues Small—Florida East Coast 5s Under “"*Further Pressure. BY CHARLES F. SPEARE. Dispatth to The Star. NEW. YORK, December 12.—There not many important changes in gleu today. The market was | New issues ‘were small. _was _evident unwillingness on part of many dealers and invest- hent bankers to increase their com- its untll after the first of the Jear. Money ruled easy and should renewed at even lower figures be- fore the end of the month. On account of the recent break in { Florida East Coast refunding 6s of about 4 points on a turnover of near- ly $800,000, interest was centered to- iday on the action of these bonds. i,'!'hu were under pressure early, sell- ing off another point, making a total ' decline from the high of the year 131 mu. They later rallied. There has extensive liquidation of these by institutions owing to the Poor results of the road this year and the none too good outlook for 1928. rd Air Line incomes also were | Erie Issues Active, The various Erie issues were active How- 6s sold above There high-grade rails ever, Genesee River was less doing in than for some time. United States Governments opened higher, but immediately reacted with the exception of the first 31¢s and the fourth 4%;s. In the offering of municipal bonds were State of New Jersey 4s at per cent; State of 1d 3.80 per cent; Bonds on & ‘basis ot 3.50 and 3.70 per and City of Cleveland 3% and per oeént issues, to yield between 8.70 and 3.85 per cent. This indicates exempt securities this year has pushed up prices. ‘The largest borrower today was the . International Securities Corporation, Which sold the $10,000,000 remaining of the $25,000,000 of 5 per cent 5.35 basis. This is the pioneer among invest. ment trusts as well as the largest and onhe of the most ably administered of those now in operation. Irregularity in Industrials. Among industrial bonds there was considerable irregularity. Hudson Coal §s rallied fractionally, Dodge 6s active convertible bonds quieter. Brookly-Manhattan Transit 6s ad- wvanced to 97 after holding for weeks in the neighborhood of 96. Manhal tan Elevator 4s raliied a little.' New York Railway 6s were at a new low price. There has been another out- break of selling in New York State Railways 4%s, which are quoted very olose-to & 10 per cent basis, with 43s “atdn gher yiel ANCIAL. (e o BONDS o ] Received by Private Wire Direct to The Star UNITED STATES. (Sales are Sales. Lib3%s.... 20 Liblst4%s 6 Lib3d 438. 556 Libath 4%» 68 US 3% 43-47 Bremen, State. 7s. Buenos Afres 7s 67 Buenos Alres 7s 68 Canada 68 1931... Chile 78 1943, Chile 83 1946 Chinese Gov Ry § Christiania 6s. Copenhagen 6%s. . Czecho 8s 19651. Czecho 8s 52 Danish Mun! il fas EX issues were quiet and with- out significant trend. Peru expects 1o follow the example of other South n republics and Buropean governments in establishing a state mortgage bank which will compel a Groéery Co. pfd—5 at 105. AFTER CALL. 'fll‘}n Rwy. & Elec. gen. 6s 1933— b 50 ”E'%":at A—$1.000 at 108, 4 Potomac Flectric Bi4s vid—5 at 108%. no&:‘;"% r 1 jon Co.—20 at 108% . Money—Call loans, 5 and 6 per cent. BONDS. Bidand Asked Prices. UTILITY. SALES. . WEI."‘.: o Oy B0t 10 10 at °10 at 107. 10 at 1 tary [y 3335535522508 & & R BB B ington Gas Wark "Gan' ga. ser Wash. L Wash: B¥¥) Wash. BwY. MISCELLANEOUS oo & . Jpe. 8 04 v Blas.. 5 B 00 = 23323 P R U O Paver Os.. . int Stock 1.'d Bk. 5s... Tk e ‘&‘fi Eiorage b _Seazaman Park H 0 PUBL] UTILITY. n Tel & Telra. Traghob. ... — Amerd Cami = Patlonal Bank of Wash. N TRUST Cony joan Sectirity & Trust £ ioental Trust §Srchants’ Bank ¥ational Savings & on Wash. SAV. ak of Bethesda. . smmerce & fum Wash. Savings. 1 Title al Efate. ... 1 e 1nv. Co.'of Ma ‘dowm’1. 55 4 MISCELLANEOUS. Rosg, .. 349 al ase. Natl £ Co. pid. pid ROCK ISLAND OUTLOOK. NEW YORK, December 12 (F).— Pstimates of earning on the common stock of the Chicago, Rock Island and Queengsiand 7s. Rhinelbe U Ri10 de Jan 88 1946, Rio de Jan 8 47... gznflr Do Sul 8s. . Bweden 6s Swiss %8 Swiss Confed Toho Elec Pow I8. Uruguay 8s. Yokohama Sswi.. 25 94% 94% 94%|(n. g MISCELLANEOUS. Am Agri Cnem 7 AmSmit & R ist Anaconda 1st 8s. . Anaconda ov db 1 rets. Barnsdall 68 1940 Bell Tel Pa 68 B. Bell Tel P& 68 C... Beth Stesi p m 8. Beth Steel rf 58. Beth Steel 8% Beth Steel 8t Rkivn Union & Bush T Bidg bs Ghile Copper 58, Gon Coal M4 15768 Goodrich 648, .4 (oodyear bs rets. Hershey > 48 Hoe & Co b} Hurible VY b8, .. Humbie O & R Hinuis tnols St indiana Steel 58 int Mer Marine Inter Paper £ 6s Int Tel&Teleg 4 %8 Kan G & 101 68 6 Kelly-Spring 88. Laolede G 6%s 52 N North Am Bdis 68. Nor Ohio T & L 8i P ServGas5%s 64 Sinclatr O11 6s.... Tacifio for 1827 have been revised up- jvard to more than $12 a share, based on the upturn which began-in Septem- and continued through October |80 November. Yearend adjustments fire expected to increase surplus. Wall hears. the. $5 dividend ra e ivaon may bé increased in Feb- e # Sou Bell Tel Por Rico Sug 7s :nuuun Bell 6s. 110 26 85 11526 FOREIGN. Sates. Hi 5 105 b 101% 2 109 19 106% 21 9% 12 105% 16 1084 .26 Il1w 75 1ol Remington Arms 6 5 97 5 96% Saies. USRublstrfbs.. 65 Closs. k] 10213 10813 12 21 10830 | warner Sug 1s 10223 | west Bleo b 10722 | westinghouse 11023 | wiison & Co 18t 11519 | Winchester A T3s. Youngstn S&T 6s.. 10 . RAILROAD. Ann Arbords...... 1 85% 1% 09% | Atonison sen 4e... 20 98% o 1091 | AtiantioC L 18t 4s. 25 98% % * 994 | ptiantie C Liel o8 08w | gt ot e Low. Close. Bkiyn Manhat 6s.. 9w Buff R & Pitt 44, 107 | Can Nat 434867, 101% | Can Nor 41 193/ 9614 | Canad North € 4, 96% | Canad North 7s. 102 |Can Pao 4348 46, 198% | Car Clinch & O fs. Car Clinoh&0 6s 63 109% | Gent of Ga :g‘a Central Paoli 2| G 48 36 of M&stP 1084 | CpaStP deb ¢s of, o BaSern @ ——ee 8 5 Gt Nor 4148 76 D, 2 Great North 4%aw 20 134% | Great Nortn bs. ... 100% 100% o int Rapid Tran 88, k) Int Rap Tr S8 8tpd 119 77% 1 8% .. Y% Nor1st6s. 5 107% @ Nor ad 6s., {nl mgA .l"" 105 105 |lat Am 101% 101% | IntRy O A 6 109 109 |lowaCent ist 108% 105y | Kansas City Kansas Cif 111% 112 | Long Isrf 449, 91y 91% | Louls&Nash uni és 88% £8% | Man Ry 1st 90. 102% 103 | Market St 78 40. 100% 100% | Mil EI Ry & L b8 61 1067 1067 | M St P & SSM o8 ¢ 109% 1091 | MStP&SSMEsssgta 101 101 SSM S%s 102 102 . 101% 101% (MK & 104 104% (MK & 23341 234 | Mo 105% | M A 65 96 | Mo Paebs F17.... 831 | MO & Ohlo4%8 17 1064 Cent deb 6s... Cent LS cl 3% YChiaStL b14sA YCasStLosA. NY N Hav& B 3%8s NY N HavaH 43 56 NY NH&H 48 6 NY NH&H db 4i 22ZZ2Z Northiern Pac 48 Northern Puc r 1 6y Ore Short L rfs 48. Ore Short L en Ore Wash | Pere Marq 1st bs. . Port RL& Pbsds. Port RL Pés 7. Port RL&P T4 48 Reading cen ¢ 4 s Reading J C 48 D38 99 98% 964 | Sou Pacifio ref ds.. 94% 94% | You Ry gen t», 1. 98% 98% | Sou Ry Con S8 100 100 | Sou Ry. 6s 66, 94% 94% | Term 104% 104% | Tox & Pao 1104 110% mfl'wl 106% 106% Averet o 24 113% 6 120 2 126% 5 93 100% in Hixh. 4% 7 106 94t 2 108% 1 101% 6% 98w 1044 1ok 103 84 107 102% ' 5% 86 80 114% l:O‘t 16 Yo% 110% v 106% 101 8 Vi 94y Tih 204y 98 94% 941y 994 918 ¥2% 3% 120 Low. Closs 4% 94y 105 108% It 99U 1ot " 1264 Y24 100% "M% o] (BB SHARES ISE: OILS ARE STRONG Bullish Demonstration in Mo- tors—Bancitaly Stock Sells Off. BY WILLIAM F. HEFFERNAN. Special Dispateh to The Star. NEW YORK, December 12.—Except for momentary hesitation around the opening due to the expectation of belated selling orders as a result of apprehension with regard to the Gov- ernment’s success in the O'Fallon valuation case, prices for representa- tive securities in the Curb Exchange today showed an advancing tendency. There was a note of reserve in the buying movement, however, and ex- cept in a few instances, fluctuations ruled within the point area. Announcement that the Federal Trade Commission had cleaned the oil companies of charges of price fix- ing may have stimulated buying in this group, which was among the first to move upward. Vacuum Oil and Standard Oil of Indiana, were promi- nent in their section, while Interconti- nental Petroleum was a leader among the independents. British interests re- cently bought a large block of stock of this company, which owns vast oil acreage in Central and South Ameri- ca. The stock is selling at its high for the year. There was a moderate bullish dem- onstration in motor shares in appre- ciation of the approaching automo- bile show and wide moving special- ties generally registered gains, es- pecially Tubize Silk, which ran up more than 30 points to above 480. Johna-Manville, Borden, United Bis- cuit B,” United States Freight and United Electric Coal also stood out sharply in the advance. Bancitaly stock opened off nearly 4 points at 1393 and failed to better its position as the season progressed. Expectation that this issue might be removed from the trading list, at the request of officials of the bank, was believed to be the principal reason for selling. Lehigh Valley Coal sales continued to droop, falling to a new low for the year. Public utility and mining stocks acted well, particularly the latter group under the leadership of New Cornelia, which made a new high for the year, and Newmont Mining. . §250 A BALE DROP INCOTTON MARKET Liquidation of Old Long Ac- counts Sends Prices Down 50 Points. By the Associated Press. NEW YORK, December 1 -A_de- cline of approximately $2.50 a bale occurred in the cotton market today tithder continued liquidation of old long accounts, which sent prices off to about the 19%4-cent level for March contracts, or b0 points under Satur- day’s closing quotation. A little trade buying on scale-down orders was re- rted by local brokers, but otherwise ying was attributed chiefty to cov- ering. Prices were within 4 or 5 points of the lowest during mid- afternoon. The market opened easy-at a de- cline of 12 to 17 points under re- newed liquidation combined with lo- cal and Southern selling, evidently in- fluenced by continued talk of probable domestic mill curtailment and rela- tively weak Liverpool cabvles, ac- companied by unfavorable trade re- ports from Manchester. Stop orders were uncovered as prices broke below the previous points of resistance, the decline extending to 18.46 for January and 18.84 for May before the end of the first hour, or about 30 to 33 points net lower. Cable advices from Liverpool re- ported heavy all-around liquidation, with poor absorption in the Liverpool market, also fair demand for cotton ;lolhs in Manchester, but yarns were ull. The market steadied slightly after the execution of stop orders on the early decline, but except for a little trade buying or covering little demand was in evidence, and prices weakened again later under renewed liquidation. At mid-day January was selling around 18.45 and May 18.81, or 30 to 36 points net lower. Some Southern selling was reported here, but the offerings were attributed chiefly to liquidation of old long accounts. WHEAT HAS SETBACK ON LIVERPOOL NEWS Larger Arrivals in Great Britain Are Reported—Profit-Taking Eases Corn and Oats Prices. By the Assoclated Press. CHICAGO, December 12.—Despite 2,223,000 bushels' decrease of the United States visible supply, the wheat market here receded today. Export demand for wheat from North Amer- fca was slack, Liverpool quotations weak and Argentina news bearish. Profit-taking sales eased corn and oats in_the late dealings. Reports of a satisfactory crop out- look In Argentina gave considerable advantage to the selling side of the wheat market at times today, aside from word of increasing supplies of breadstuffs at Liverpool. It was also announced that during the last few days no rain has fallen in Argentina, and that thus the progress of the har- vest was without impediment. Mean- while, the Argentina government's preliminary crop estimate is looked for on Friday. Although larger receipts of corn at Kansas City and Omaha eased the corn market at the outset today, good buying subsequently developed. Re- ports were current of a small yield in sections which usually have a surplus. There were also advices of persistent good feeding demand, with assertions that the total supply of oats is 60,000, 000 bushels less than the actual disap pearance last 33 438 833 &uiF Fem mp RS Frrl o 8 # n Pac 4148 67 . 7 100% 100% 'nton Pag av fs 20 101 101 Vireinis Ry ist 68 40 109% 109% 1 100% 101 109% 102 104% 0wz 102 3 104% 104% 8 104 104 104 1 86% 86% 86% T 102% 102% 102% 13 100% 100% 100% 361 6 93 92% 92% 16 88k 884 B8 v West Ma 540 77... NEW.YORK CURB MARKET , 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: Sales INDU!THQL!, in hundreds. igh, 10 Acetal Prod..... 31 9 AT Biok Bar i 1% 741 P'Bac A ofd 0% i =3 B oo en S S oo om S ol wen: e s She ol Koz oSt uiongSonasha 2 5 3 FEF RIS R F oy W n,. lyn Shoes Inc.. b e P! 25522 cseo - Seses o FRES FESRRRS B ROo B 108000 ke Cent C G S 1] C M& Se = R Pub Se Spz&Bumper frhasit : Shaeor Erae sopamenEion Commonw_E. ... 171 Common P n pd 103 1 Consol Coal . 0 11 Consol Dairy 1 Conso] Laund. e 29205 25501 D 3B B P A DO BB AL S B B R DI D PO LIS DL IO MDA S SOP O ID SU LN E B TP DO B S BT [ 053! FRERAR # SRSE FE T FRREEAR FRRARE E % a eow n So B.EB o S mesiscs aro ! Rt T et [ ontlanaiBe gms, 22055 BREORE SRR PERR S R YR R WS R PR ORE SRR R ST res Ch 1 Holland Fu 2 Hood Rub pid, 00d. Cor A A % Huylers 2 Huylers 18 Hygrade 52 Ind R: 1 Insur Co 5Intern U 15 Intern Util Intern Util 47 Johna-Manv wi FESHTEE SOTRSAR Vain.l 484 ok 1fiu pt 88 Sromistenns 1230 ° St R SR S s e 3 Prudence Co ptd ZPuc SP &L 2 Pyrene Mfz... .. Q nsic: || R Qualcer Oats Dl eo Mot #ER FREER R 3 Ricl Ric] R 8 aron 8 18ilica Gel vic. . 1 Sou Cal E u P &Ln.. Sou b &L 19Sou P & L ptd A 5 Sparks Withing.. o X rico Prod 24 Trans Lux Pict. 1 Trumbuil 8t . 3% Tubize A § B vic 4 Biscuit ‘B.." 1 Biscuit Amer 3 1 Bis Amer vt El Coal vic. ol G Ipp ... ni Lt € M&M Lt 1 Anglo N 20 Ariz Globe C 06 1 -3 06 1% 53 & e 2SEN- ¥ IR B RN FRAEE INDEPENDENT OIL STOCKS o Con, 88 5 Al ,gnn Ofifids. :ix 7 & racaibo Co o ibo & RS BRPRRER YL - .. B2 BL 35 Cols s 1 1 101 Cug:bggn . *U x Gomn Sent R Gy 7 G & R 8s r:ld 105 % o 1@.b Lt ,AD ROR 1% 57 18% 41 s STANDARD OIL 188U nits. MER SUBSIDIAR! 5 s ¢ )l 50 XY Pplg no.fl 3 30 200 gl P L. lfli“ thousands. 2 Abbott Dairles Os 1 Ia Pow 4 %8 Mot oot SHRRER TmogEEoC TETERTS RS-GE0E. - 5383382 e DR e & < _. e nE_O = e - )3 co ther S $k o n nt o o e S & <o ™y =YY Py S H -,,; e EE 2 W°°°<f zf?.zgllll! .o -l 52 333333 o o 12 rcsnonontDes aem S s S nen on 89 i oM BRI saizovsyy bt leen BG&E! A 104 Biores 6o 108 % 15 £ a5 e ECEN D eI S35 S58sEessstyy >: g Sonnnnn®E -1 e L FEFRE FERRRARRES .- : ey 33 Vaaom e 29! 23328 333 3 H 3233 o9 == Sales in thousands. - FOREIGN BONDS, 8 Adriatic _Elec 78 03% X Chile 6s. 90} 2 Mor Bk Denmk s 100 3Mor BD s 1 X 76 Yedeliin gs. 103 edellin 78, 92 remberz 08 91 T8 . de oo % orepoomaT B3RIERII53T ooz pooms e ERTE et S FE BERERAAR FEE F 2 S SHORT-TERM SECURITIES. (Reported by 3 & W Seligman & Co.) ——Noon Allis Chalmers Bs 193 Al G0 "SF A er- B American Thread Co. Gs 16528 Anaconda Co 29, . Associated d}’l“er by glfl Baavian O § Gallf, Pet To S 23238R3223525; SRR WS AR REESRE 53332355 22522382 X ik § it e Wheeling S| FINANCIAL. FOREIGN EXCHANGE. (Quotations furnished by W.B. Hibbe & Co.) ominal Mortgage Money Loane at Low Interest Rates Tyler & Rutherford L Comapetss fseet 1520 K Street Main 475 Promps Action First Mortgage Loans Lowes: Ratess of ‘Nnierest and Commission Thomas J. Fisher & Ine. o, crown. ... Stockholm. crown. NEW YARK, December 12 (®).— Forelgn exchanges mixed; quotations (in cents): Great Britain, demand, 488; cables, 488 7-16; 60-day bills on banks, .| France, demand, 3.93%; ca- Ttaly, demand, 5.42%; cables, 5.43. Demand: Belgium, 13.981%%; Germany, 23.871;; Holland, ~40.41%; Norway, 26.60%; Sweden, Denmark, 26.8215; Switzerland, 19. Spain, 16.74%; Greece, 1.33; , 11.25; Czechoslovakia, 2.96%: Jugoslavia, 1.76; Austria, 14.10; Rumania, .62%; Argentina, 42.75; Brazil, 11.95; Japan, 45.88; Shanghal, 64.25; Montreal, 99.93%. g TREASURY CERTIFICATES. (Reported by J. & W. Selismag & Co.) - 10834 igfi'i Chinese children rarely have rickets, lc‘hil:'fly because they get plenty of sun- Buck & Company Write or coll for ket letter. weekly mar- No Obdligations BUCK AND COMPANY Evans Bldg. 1420 New York Ave. Franklln 7300 We Buy and Sell Liberty Bonds Treasury Notes Ete. Bond Department The Washington Loan and Trust Company 900 F Street g 4 ot b loney to Loan first doed of truss cntate e e ntorast ang somimimon: Jossplst L REAL ESTATE LOANS 5% FRED T. NESBIT 1010 Vermont Ave. Malo 9393 Secu Le Roy Goff INSURA! NCE “Equitable Co-Operative Building Ass'n. Presiden WALTER 8. PRATT, Jr,, Secretary JOHN Jgr!"EDSQNI it Ay L Assets. ...........$5,202,042.70 Surplus. ..... ...$1,511,115.81 Subscriptions for the 94th Issue of Stock Being Received - i g SAVE 1 the Equitable Share F Lay your plans now for financial independence by opening an account in the Equitable. Start now, today. 9 find uitable's syste matie plan a helping hand to accumulate money. Street il 15 APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY Located in the District of Columbia and adjacent Suburbs in -Montgomez and Prince Georges Counties, M - 5%2% INTEREST Apdly to H. L. RUST COMPANY LOAN CORRESPONDENT The PRUDENTIAL INSURANCE COMPANY of AMERICA * 1001 15th Street N.W. Main 6888 Hammer It Into Shape T IS an old Chinese belief that Panka, the Ifim man, who was a giant in build and brawn, hammered the world into shape with an adze. Sometimes when you get started on a spending splurge it requires some good hard blows with the adze of common sense before you can hammer your financial program back into shape. But you'll find that a well-formed and faithfully followed plan of monthly expenditure that calls for regular saving and investment works out best « . . especially if your investments are such sound securities as the 6% First Mortgage Notes offered through Swartzell, Rheem & Hensey Company. Swartzell, Rheem & Hensey Co., Morigage Bankers T274151h. Street, LV, VashinglonDC. 58 Years Without Loss To An Investor