Evening Star Newspaper, December 14, 1927, Page 15

"FINANCIAL. Quick Action Is Invaluable When money is sought on mortgage loans. Tt *is with this in mind that we stress our invari- able quick action on ALL applications. pay you to see us first. Low Interest Rates and Commission B. Main 2100 It will Immediate Answers on Applications SAUL CO. 925 15th St. N.W. F. The New York Life Insurance Company Offers to Make F irst Mortgage Loans On_ Improved Real Estate in the District of Colun.bis and Nearby Suburbs in Montgomery County, Md. for 3. 5 or 10 vear terms on your Apartment usiness Property 51/2 % sty Apply RanNpaLL H. HAGN! ER & COMPANY THE EVENING INEW HIGHS SCORED Convertibles and Industrials With High Coupons Are Prominent. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, December 14.—Con- vertible honds and other industrials with high coupon rates were again the most prominent in today’s active and broad bond market. Several new record prices for the year were estab- lished. Andes Copper 7s advanced 2% points, with a gain of 6 points in the past week. United States Rubber re- funding s sold above 96 on large transactions and were within a frac- tion of the highest of the vear after declining last Spring to 88. Good- year bs, however, were low. Miscellaneous Industrials Up. T|mre was a miscellaneous list of I bonds including National which _crossed par, Coal & Coke 6s, which were up 7% points from the recent low, White Sewing Machine 6s, Liquid Carbon , Continental Bag & Paper 61,5 and J. Kayser 518 to which more or Jless speculative attention was given during the day. Such 5 per cent issues as Chile Copper, Humble 0il and Hudson Coal 5s were slightly better. Dodge 6s and Armour b5%s INBOND DEALINGS STAR, WASHINGTON, I ON NEW YORK BONDS STOCK EXCHANGEI Reccived by Prlvnle Wire Direct to The Star Office Sates. High Low Close. % 9% N9 UNITED Sales are Lib 3%8.... Lib 1st 4s.. Lib st 4%e Lib3d slse Libath 4% US 33 43-47 US3%s US 4819, US4us FOR Argentine5s...... Argentine §s Ju ¥ Argentine 68 Omn Argentine v Argentine Australta 68 19“ ¢ Australia 53 1957, Austria s, . Bank of Chile 6153 Belgium s 1955 Belglum 7s 1958 Chile $s 1341... Chile ¥s 1948 Chinese Gov Ry bs. Christianta 8s. .. .. Copenhagen 58 ct. . Czecho 144 rots Crecho $s 1961. Czecho 8s 52 Dunish Munic 8s A Danish Munto 8s B Sale 11 102 14 110114 12 103 11 46 100 22 150 104 12 10225 110717 49 110 20 31 11525 11518 D. C., STATES. n 81 000. W-rnlr Sugis39.. 2 warner Sug 78 41. Willys-Ov 63533, Witson & Co ist 8s Winchester A 7%s Youngstn S&T 6s. . EIGN. Sales High Low Close | AtlanticC L ol 4 L 91k 91% 91%|Ati& Dan Ist 4848 86 Atl & Dan 2d 48 48. 14 10 1 31 2 Buff R & Pitt 4%s. Can Nat ¢%830... 3 Can Nat ¢%857...103 2 1024% 1081y 1017% 10074 4 109% W 109 26% 1024 5% A 105% 108 108% 110% 10214 108% 102 101 109% 109% 26% 102% 95% 105% 108% 108% Centof Ga 5% Central Pacific 4 Cent Pac Istbs ¥0. 16 Chesa Corp 6s wi., 33 Ches & Ocv 4%s.. 17 Chi B & Q gen IC! 5 CB&Q1%81TB. 1. Chi & 15 111 gn 68 61 115 Chi Gt West 4869, :‘-‘ 0 11 105 lAlLIOAD 89% |to much better business within the 108 103% 112% 104 102% 100% 106 105 106 103% 113 104 102% 100% 106 105 934 98l 84l 82l 6% 934 WEDNESDAY, DECEMBER 14, 1927.° RECORD YULE HARDWARE BUSINESS IS INDICATED NEW YORK, December 14 (Special). —The recent backward conditions in the hardware trade have given place past week, Hardware Age will say to- morrow in its weekly general market summary. Reports at time of going to press indicate a record-hreaking Christmas trade in most centers. In addition to this the general out-| look for the new year is very encour- | aging. The agricultural districts ar in a prosperous condition and recent developments in industry have strengthened the position of the buy- ing public somewhat. Jobbing houses in most sections of | the country are busy supplying de-| mands for snow goods and other Win- I ter equipment. Prices are for the greater part steady, and collections somewhat im proved. BIG CONOWINGO POWER PLANT TO BE READY SOON BALTIMORE, December 14 (Spe-| cial).—The new Conowingo plant of | the Philadelphia Electric Co. will be | ready to produce power from its initial | installments early next year, and the company already has started an in- tensive campaign to open up addition- al outlets for the current. The Pennsylvania Railroad is | counted upon to be one of the largest users of electric power produced at Conowingo, but this source of con-| sumption will not come until the rail- | road lines between Philadelphin and | Washington are electrified. Next to| the Niagara Falls development, the | Conowingo plant will be the largest | in the East, with a maximum capac- ity of half a million horsepower. The plant complete will cost in ex- cess of $50,000,000. The Arunde! Cor- poration, which is building the dam, expects to finish its work within 90 FINANCIAL." COTTON GOODS QUIET. NEW YORK, December 14 (Spe- cial).—Cotton goods mavkets continued quiet today, with prices steady. Print cloths were unchanged at 77% for 64x 608, and 87 for 68x72s. Raw sllk! were quiet at steady price levels. - N RUBBER DECLINES. SW YORK, December 14 (Spe- cial).—Crude rubber, smoked ribbed | sheets, declined a cent and a quarter 1t today’s noon quotations of This compares with 36% a month a | and 381; a year ago. SILVER QUOTATIONS. NEW YORK, Degember 14 (@.— | Bar silver, 58% Mnmm dollars, 44% l Mortgage Money Loaned at Low Interest Rates Economic Conditions Tyler & Rutherford Loan Correspondent Mutual Henefit Ins. 1520 K Street Main 475 CHURCH LOANS We are i a_position to handle con- struction loans for Churches and Institu- tions—Phone Main 564 Money to Loan Secured by first deed of trust on real estate. | Prey allnwmmv-m and commisston, . L. & Trust Joseph I Weller i Wil & § X! First Mortgage and WE PAY MORE INTEREST ON SAVINGS ACCOUNTS Than Any 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 K. GOLDEN DONALDSON. PRESIDENT INSURED Mortgage Bonds fInsured with the Equi- table Surety Company (under supervision of the New York State Insurance Department), which pledges its “two million dollars of resources to the payment of principal and interest. fUnconditionally guaran- teed by the Federal Se- curity and Mortgage Com- pany with $1,000000 re- sources. fSecured by trusts on con- servatively appraised, owner-occupied property in the District. Maturities 2 ConstructionLoan Incorporated MORTGAGE LOAN CORRESPONDENT 1321 Connecticut Ave. Telephone Main 9700 to 10 years. $500 to $1,000. Deferred pay- Denmark §s. 9 days. Duteh Kast | 88 47. 5 o AR I R Dutch East | 6363, 3 2 | Fintand s f fa 66 Sl Do 1 VOTES EXTRA DIVIDEND. | NEW YORK, December 14 (#).— Framerican 14s. . French 114 Consolidated Mining & Smelting Co. of ognca 2 ; 2 Canada declared an extra dividend of | E 3 $5 and the regular semi- of | 105% | $1.25, both payable January 6 to 86 stock of record December 31. Simi: 93 lar amounts were declared six months Y5 | ago. YT% 101% 96 101% 105 o 18 | 5 92 were lower in the first half of the session. The field of public utility financing is being actively gone over for the purpose of discovering issues that may be refinanced with 41 per cent bonds. Last year the Duke-Price en- terprises brought out a 6 per cent bond at 100 which was looked upon somewhat as an experiment, as the company was then in the construc- tion stage. It is now proposed to is- sue additional 4% per cent bonds. Possibly one of the most notable successes is that in connection with the Associated Gas & Electric Co., whose finances 12 months ago were in a rather confused state, but were knit together by the new banking interests that went into the company and who have from that time on dominated its affairs. Retiring Convertibles Planned. It is planned to retire a large por- tion of the convertible 5l;s of 1946 which are selling around the redemp- tion price of 105, giving 6 per cent preferred stock in exchange. The 50- year 5%s issued last February at 95% are now quoted around 102. Tt is be- lieved that ‘under the same auspices the Cities Service Power & Light 5%s will also be made altrwct(ve to in- vestors, High-grade rails sli!{ened up a lit- tie. There was more than usual ac- tivity in Third Liberty 4%s at a new low price around 100%. The junior bonds of the Florida East Coast and Seaboard Air Line systems were heavy. New Haven convertibles ad- vanced with the stock. Among foreign issues those of South American countries were generally stronger, while the issues of France, Germany, Poland and Italy were lower. 61i% i C. E. MORAN & CO. Investment Bankers 1716 H St. N.W. Applications Invited at 514 % Glover & Flather 1508 H St. NW. Main 1753 Ger Am Bank 7s Ger Gen Elec 7 Chi Rys 5s... S ri{ChiR1&Fgn {Chir1&Prt CR 1 Fac 4% ChiTH&®S I b Chi T H inc 6s 60.. Chi Un Sta 4%, .. Equltable Co-Operative 31ilding Ass’n JOHN JOY EDSON, President WALTER 8. PRATT, Jr., Secretary Organized 1839 8th YEAR COMPLETED .$5,292,042.50 Surplus .$1,511,115.87 **Subscriptions for the 94th lssue of Stock Being Received Your Christmas Money Don’t spend all your 7 Il Christmas money—start a | systematic Savings Ac- | count with the Equitable! No matter what you are saving for—a home, your children’s education— you'll find the Equitable’s plan a helping hand to ac- cumulate money. Start Qs F St NW._ AT — Please send me more informati about Insured Mortgage Bonds. DENIES NEGOTIATIONS. 3 NEW YORK, December 14 ().—V. e B Hovey, president of General Ice e g %e Cream Corporation, denies reports Chia W ind on 48, that negotiations either are in pr A R R 105% | res. with Borden Co., or are intendec 101% 106% Jergeus U M 83 47, Lyou s, Marsetl i Mexico 4s 10 asntd Milan 633 . Montevideo Is. Netherlands 6s 54, Netherlands 6 72, Nord 6. ... Norway o %s. Norway 6s 1943, Norway 6s 1944, Norway 6s 1952, Urient Dev deb Paris-Ly-Med Parts-Ly-Med Paris Orleans Peru 7s. OPEN UNTIL 5:30 P.M. TOMORROW % Compound Interest Paid on SAVINGS Del & Hud 1strt 48 S Den & Kio G cn 48, Capital, Surplus & Undivided Profits. Ower $2.000,000.00 Krie Lst cons 4s. Lirie gen 4 Krie conv 48 A..es krie conv 48 B..eo Krie cvt 58 67 wi, —calls for a well filled purse, and few of us there are who could not find good use for more cash at Christmas time. q Start saving with the ‘ “Metropolitan,” this very 2 184 1 Erie Geuessea R 68 2 Fla C68 T4, 58 l Grand Trunk 7s, 13 S o 10 106 . 10 1t H 26 ol 35 Rio Gr Do Sul 8s.. Ri0 de Jan 88 1948, Rio de Jan ¥8 47 Rome 6 %3 - Sao Paulo cu’ 3 Washington Stock Exchange | Sems s se.v..ss- SALES. 55 ol Lat 1z oty 26 at 100 111 Cent ref 48, 111 Cent 48 b2. 4 Ll Cent 4% s 6 5 NI C-C-St L jt 4%s =0 int Rapid Tran 6s. 29 Int Rap 'L'r 68 stpd. int Rap Tran 4 1ot Ra, int& Lot & G Ner L|intRysCaA ot Rep C Am [ I Rk [ (i PAYDAY, and another Yule- i tide will find you well pre- pared to finance the season’s requirements. g ONE DOLLAR or more will open a Savings Account. Natlonal Metropolitan Bank .» Years Old 15th Street Opposite U. S. Treasury Elec, 65 vfe Shston 3 1033 2 112% 98% 757 ¥8Y 106% 94l Ya% MISCELLANEOUS. Am AgriCnem (%: 9 105 104% 9 102% 1024 101% 101% S¥a 106, 0 at"5%. 50 at §-m| Grocery Co. pfd.—10 1oAY 0ery Co o2t at 104%. at ah Corvention Hall- p1d.—10 at 98, 20 The Telephone Number H. L. RUST CO. Has Been Changed MAIN 8100 et e S i AFTER CALL. Wash. R. & E. ptd—=25 at 100, Pot. Elec. 5%s pld—b at 108%. 5 at (‘oml Nat) Bic—4 at 265, action Co.—1, m{"‘ Elac *5%-"_”%'0-"'1%323 2 Money—Call loans, 5 and 6 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY el & Telea. 4‘- . Lake Shore Louis&Nash uni & L &N 4%s 2008 Louis & Nash bs Man Ry 1st 0. Am Sugar ref 6s. AmT&Telu AmT&Toltr Am T & T of bt Am T & T deb 6% Am Water Wks Am Writing Pap 6 Anaconda istss.. 15 Anaconda cv db 7s. 15 Andes Cop 18 rcts. 125 Armour&Co 448 39 13 Armuur Del o%s.. 21 Barnsdall 6s 1940.. 14 Bell Tel Pa5sC..o 1 Beth Steel p m b 31 Beth Steel ot 63. 34 Betb Steel 18 Bkiyn Kd Bklyu Unton § Bush T Bldg bs Chlle Copper b Con Coa! Ma Ist bs Con Gas N Y 64 Consumers Pow bs som uROEmuBaSR M1l B Ry & L 68 81 M EI Ry&Lbs6l 4 M StPx 3SSMcu e, Y M St P&SSM cn bs. 10 MSLPESSMEss¥EL0 lz Organized in 1814 Amer. Mo Pacific gen Mo Pac bs F' 17 Mob & Ohlo 4%8 Nassau £l 48 61 XMAS CASH Sent Anywhere by Draft & Cable Oldest National Bank in the District of Columbia oom uam mae ¥l yash.. Alex. k S Ver o Wash', & Mt. Ver Wasn: Baii: & Annav, 5. Washington” Gas 5e. h. Gas fs eries ‘A Rentals We make collections when due, report and remit them immediate- ly and in all our con- tacts with tenants have in mind that very im- portant matter of man- aging service that has to do with the mainte- nance of tenant good- will. F. SAUL CO. 925 15th St. N.W. Rarber & Rown. i rn{w. o P Baire®03 Chevy Chase C] The Investor SELECTS! He does not merely Buy. s B) 100 ) Storazd B Wardman Park Hotel 5%s.. PUBLIC UTILITY “':‘slhmllnn Gan Norfolk & Wash, fiw.mvm Pot fomac” Elec. nfd Careful Selection vs. Blind Buying Success in investing money is really a very simple thing—the selection of safe securities, bought from a house of integrity, responsibility, and experience. & Flec. co) W, & 'Blec. D111 NATIONAL BANK Nntional Cavital.. 2 A Columbia Commercial District + | Ore Short L en Ore Wash 18t 48... Federal-, Ammonn Pennsyl con 4% e 1 int g.-r Mas ,:.,. v.‘ o o ' | nt Paver 55 87. tional Helrl)mhun 5 Inter Paper d 6 Int Tel&Teleg 4 %8 102 J Kayser & Co %8 37 Kan CP&L 68 A 53, | Kan G & ©1 6852, Kelly-Spring §s... Lacl G ref 34. Laciede G b % Liggett & Myers s Loriilard (¥) Loutsv O & K be 52 Manati Sug st 7%s Midvale Steel Montana Pow 6s... Mor's & Co Lst 4%8 Nat Tube 1st bi New kg Tel b8 N Y Kdison bs 4 N Y Kdison 6%3 Main 2100 TRUST ('OMPAM American Security & Tru Mmmnm-m Trus fod Reading J C Rio G West cl R1Ark& Le% StP& KCShL 4%8 2 SUL IM&S 48 29... 4 StL | M&Sgnbsdl 3 su.m&suuull' Most if not all of the losses of the.American public in worthless securities—estimated at more than half a billion dollars a year—would be avoided 'if every one followed the rule of careful selection in investing money. APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY inzton Mechanics' FIRE INSURANCE, Careful selection of one’s investment dealer— careful selection of the investment itself— these are the watchwords of safety. Inquire— analyze—investigate—before you invest. S. W. Straus & Co. call the attention of prudent and cautious investors to their current offerings of sound bonds, yielding as high as 5%2-6%, and invite thorough analysis of these securities. As a first step in your in- vestigation, call or write for ° BOOKLET 515.G S.W.STRAUS & CO. INVESTMENT BONDS INCORPORATED American Corcoran National Union.’ TITLE I\smu‘ Located in the District of Columbia s Real and adjacent Suburbs in Montgomery and Prince Georges Counties, Md. 5%% INTEREST MISCELLANEOUS ss. Inc.. com. Nor States Pow Pac Gas & K Barber & Ro: 91% 118% 120 126% 105% 103w Sou Hy Con 68 94. 106% ¢ Sou Ry 68 56, o ISoulnorn Ry 6348 103w | Term AssoSt L 1024 | Lex & Pac 5811 9714 | Third A 104% | Ihird Ave ud) 1054, | Tol Tr L&P 5 1043 | Unton Puc 1074 | Union Pac 105% | Un Pac 4148 67, Virgin PhilaCortéaa... Phila & Rd C & 163 Por Ric Am Tob [ Public Service 6%s Public Service 6a. . P Serv Gus %8 69 Sinctatr Oft | Stactair 011 | Siuctare 01 78 Sin Crude 01 * . & Whag. Corp. Wash. Convention Hall bid Wash' Mech Mtze com. . Wash. Madieal Bldg. Corp’ . Wendward & Lothrop vfd. A pb 1 y to . H. L. RUST COMPANY R LOAN CORRESPONDENT WOOL MARKET QUIET. The PRUDENTIAL INSURANCE Ll e e COMPANY of AMERICA day. Wool found a fairly ready 1001 15th Street N.W. Main 6888 ErBurrenm un Y 106% 6% 94% ) =53 60 28 102% 9 100% L 929 HFIEENTH S‘IREEI Telephone Main 5847 WASHINGTON Wentern Pacific West Shore WisCengnésdd.. 2% TREASURY CERTIFICATES. (Reported by . & W. Selixmun & Co.) —=———Noon. market, but territory wools and fleeces were slower. Fine territory was quoted at 1.12al,15 clean basis, French comb- ing at 1.06a1.09. half blood at 1.03a 1.06, three-eighths blood at 95ay7, and quarter-blood at 85a87. Fine Ohio fleeces were quoted at 47a48, grease|U basis: half-blood and three-eighths| U hlood at 47a47%;, and quarter-blood at! Utah Pow & Lt 474048, Vertientes Sug 8. Sug ast Orient 78 [enn Klec Pow ESTABLISHED IN 1882 afi- Bra SR