Evening Star Newspaper, January 16, 1928, Page 11

FINANCIAL SOME GROUPS RISE IN BOND MARKET Domestic Industrials, Utilities + and Junior Rails Among 4 Features. 3 BY CHARLES F. SPEARE. #pecial Dispatch to The Star. NEW YORK, January 16.—The high spots in today's bond market were to be found in the domestic industrials, the French and Japanese government and public utilities and the junior bonds ©of American roads. The first group was inclined to fol- low closely in the wake of the lower stock market. Such issues as Andes Copper 7s, Anaconda Copper 7s and 6s, American Sugar 6s, Armour 5';s, Dodge 6s and Liquid Carbonic 6s were off good-sized fractions. with only a mod- erate amount of trading. Anglo-Chilean 3s Strong. A strong feature was the Anglo- Chilean 7s. which sold well above par and have had a 3-point rise in the past week. The Sinclair, California_Petro- Jeum and Pan-American bonds were firm. There has been con- | siderable liquidation recently in all of the listed soft coal bonds, and. in spite of their present low level, there are no signs of support in them. Mercantile Marine 6s appear to be under accumu- lation again since dropping down from | - 108 10 105. The announcement of the State De- partment over the week end that it had lifted the ban on the flotation of French industrial securities in this country caused some buying in French rails and industrials. OWINg to the | very large amount of idle capital now | in France. it is doubtful if there will be much advantage from the new situ- ation. Japanese government 6'.s ad-| point to the highest price in | r a year. Several of the South American m pal loans have been | moving forward in anticipation of new i nncmg Today City of Cordoba Ts rose 1y points Frisco 6s Advance. Demand for the maturing Frisco in- come and adjustment 6s by those de- siring short-term paper caused the in- comes to advance % to 101 for the first time 1n their history. They are callable at 100. St Paul 4 and Denver 5s. Seaboard 6s, Missouri Pacific 5s, and the New Haven. Erie and Rock Island Junior bonds were all strong One of the most important pieces of | new public utility financing soon to be announced is an issue of $36.000,000 Continental Gas & Electric Corpora- tion 5s, which will be used to refund all of the outstanding securities of this concern with the exception of about $12.000,000 7 per cent prior preference stock. Several of the long-term Treasury certificates were quite strong today, ‘hile the third and fourth Liberty 4%s | were heavy. Washington Stock Exchange Sales. Washington Gas 65 A—$200 at 10513. Capital Traction Co.—2 at 109%. ‘Washington Rwy. & Elec. pfd.—10 at 102, 40 at 102,10 at 102 National Mtge. & Invest. pfd.—50 at 5%:. After Call. Potomac Electric 51» ¢ pfd.—2 at 1081« Columbia Sand & Gravel pfd.—5 at 104. Money—Call loans, 5% and 6%. Bid and Asked Prices. BONDS. IC UTILITY. S| Swiss 5% 1946, Telephote & P Tel of Va COMPANIES st € 15 bH’Jl‘I TeEM o SECUR'TIES &t Petroleum | ON NEW, YORK _ BONDS I Raceived by Private Wire Direct to The Star Office Quotations to 2:35 p.m.~Fipal Quotations in 5:30 Edition. 5 Sales. High. Low. 2:55. (oo e $10007 o ide ™ fog Sales. High. low. 11 104 104 104 Lib31s... 22 10114 10118 3 112% 112% 112% Lib1st4is 7 10811 1039 Westinghouse 5s... 3 106 104% 104% Lib 3d 43s. 152 100 20 100 19 Willys-Ov 6%s833. 7 102 101% 102 Lib 4th 43s 101 108 28 10826 Wilson & Co 1st 6s. 10 101% 1011 101% 27 10225 10219 WinRepeat Ar7%s 1 106 106 106 107 28 10718 Yngstn S&T b8 w.i. 54 101% 101 101 51 34 11028 11016 RAILROAD. LSRRI Atchisonadds.... 5 93% FOREIGN. At&SF ovt 48 05-55 1 Atchison gends... 22 5 1 Warner Sug 7s 41, a:55. | West Elec 5 10113 1089 100 19 108 26 102 25 10718 11016 11619 b 93 984 Fr 98I 93% 93 98 4% IRy 102% 84 9% 100% 104% 1041, 1091 111'y 106% 891 961y Sales. Hizh. 3 . | Atlantic C L cl 4s, . 100% 1004 | Atlantic C L 1st 4s. 100 99% | Atlan C L 4%s 64.. 1001 100% | Atl & Dan 1st 4s 4 100 25\‘- Argentine aas Argentine 65 Ju §9. Argentine 6s Octs9 Argentine 65 A. Argentine 6s B Australia 531 Australia 53 195 Austria T: Bank of Chile 61 Belgium 6s Relgium 6%, Belgium 7s 1936 Belsium 7% 1956 Bllgium Tl4s. RBelgium Ss. Bolivia 85 Bordeaux irazil 61, Zil 7 14 13 13 O 1st is ct. B&Qrfimp 6s. B &O SW 5850, B & O Toledo 4s. .. B & O PLEWY 4s.. Bang & Aroos 4s 51 Brdwy & 7th Av bs. BkiynElevated 6138 Bklyn Manhat 6; Buff R & Pitt 413s, Can Nat 4145 30, Nat 4158 57 Can Nor 4145 1935, Canad North 7s.... Canad Pac deb 4s. . Can Pac 4158 46, .. Car Clinch&O 6s 52 Centof Ga 6s..... Central Pacific 4s Cent Pac 1st 5s 90. Chesa Corp bs w Ches&Ocvily Ches & O gndls 107 97 97 21y 102 108 102 101 109 1095 98t 961y 101 2 1y Buenos Airet Buenos Aire: Canada 551931, | Canada 551 Canada 5125 19 Chile Ch 100% 1021 1087 101 109 R 109% | | Czecho Czecho §s Czecho §s 5: | Fi German German 7s. . Ger Am Bank 7 Greek Hungary 74 Haiti 6s Italy 7 | ltaly Pub 7 7s. | Japanese 4s | | Mexico 45 01 as | Mexico 45 10 as Mexico Milan 6 Montevideo Netherlands 6s 54. Netheriands 6s 72. Nord 6%s. .. Norway 5%s | Norway 6s 1943 Norway 6s 1944, Norway 6s 19 Orient Dev de | Paris-Ly-Med 6s. . Paris-Ly-Med 7s., | Paris-Orleans 7s. . Peru 6s 67 w. Peru s Peru Peru 71351956 Poiand 6s 40, Poland 7s (re Poland 8s Prague 73 Queensland 7s Rhinelbe Un 7s. | Rio de Jan 85 1946, Rio Gr Do Sul 8s.. | 40 Paulo 88 1936. Saxon (PW) 7s. Seine 7s 42.. Serbs Crot Slo 8s. . oissons 6s. weden 5izs. 1001 1044 991a 99 105% 104 105 | Swiss Confed 8 :'loio}.l Pow Ts. | Uk ,.mqt,-.n Yokohama 6s w 1. MISCELLANEOUS. | Am AgriChem 7358 22 1054 105 Am Repub deb €s. 2 102% 1u2%, 1 AmSmit& R 1st6s 6 101% 1013 Smit& R6s... 6 107 107% sar Ref 65.. 14 104% 104% &Tcitres.. 66 100 97 AmT & T citr 5 105% 105! o [AmT & T st 5a. 1057 ? | Am Tel & Tel 5 . 109 | Am Water Wks is. 101 | Am Writ Paper 6s. 9% Anaconda 1st 6s. 105% Anaconda cv db 78, 47 1125 Andes Copper 7. Armour&Co 43,539 Atlantic Refin ox. . | Barnsdali 62 1940, 124 1% 212 *hiie Copper 5% Con Cont Md it DetroitEdison s Detroit Edison 6. AU T ’ 102% 105% 110 109% 110t 105% 105 108 96 2 100% 108 1061 116 100 Chi& Alton 3s..... Chi & Alton Jh‘s - Chi B&Q gen 4s 53, CB&Q4%s 7T B Chi B & Q 1st rf 5s. CRB&Q-1lldiv4s.. 5 Ch&E I1l gn 5s 51..102 Chi Gt West 4. M&StPevd CM&SPevelys: CM&StPgn4 CM&StPre4ls, 20 CM&SP rf 4138 cf. 259 CM&StPcvbs. ., 20 CM&SLP cv 58 cfs. 121 CM&St P 6s, Chi & NW gn 314 Chi & NW gen 4s ChiNW 45 Chi & NW i Chi& | Gr Trunk stab 6s | enn Jren, Chi Ry Chi Union Sta 5s. . Chi& W Ind cn 4s. C& W15 2 Clev Term 5138 Colo & Sou 4138 Cuba R F Cuba R R Den & Rio G cn 4s. D & Rio G imp 55 D Rio G West 5s. .. 3 Erie 1st cons 4s. . Erie zen 4. ieconvis A. Erie cvt 55 67 wi.. FlaEC5sT4. [N 0in NN S Y8y sKly 1091 1161 1001 Grand Trunk 7. GtNor 433876 D. j Great North 4138 w Great North 53s. . Great Nor gen 7s.. Hud & Man ref 5s Hud & Man aj 5s.. {11 Cent 48 111 Cent 4% ap Tr 53 stpd. Int Rapid Tran és. | Int itap Tran 7s. . Int & G Nor 1st 6s. Int Ry CA 6 ret 1s. City 8 3 Kan City Teren 45, Lake Shore 4 31. LehighVal con 4158 igh Va 2003 g Isrfds 4y Louis & Nash 5 Louis & > 1 Ry & L 5s 61 L SSM cn 48 P&SSMonIhEtd SUP&SSM 6l kT adj bx MK &TprininA cen 4. . SxF a7 Mob & Olilo 435 Nawsau El 48 51 W Or Term 4x INOTex & Min B NOT&M il NY tdeb 4x ent 4y 98 S rtim 4y niriw Cent deb 6x ¥ Cent LS o TChI&SL 5, NYChIASTL N YC & BUL 6% A v Ha [ NY NH&H 40 56. . ¥ ONHAH ab 4w 67 ¥ H Hava i cit Y NH&H cv d NYOutWist4n Y OXW gen 456, Y ity v 65 Y W& Bon 40 or & 8 gen Gn b Nor ae 2n 2047 rnlac 4n orthern lacr i 68 6 Ore Khort Lores 4x ShortLineingtd Ore Wash Ist 4n Pennuyl gen 4% V1 64 Pennsyl 615 m Pennsyl gold 7 & Kine 4x Pore Marg 1t bx PCCKSL G A PCCESL Gn 1375 Port KL P 6s 47 Jteading J C 4851 116G W Int4s WL ATK & L AYs MAK 1A s 1l 4s A ¥ b om 0V b wit) fn hn e B R [ L4 ate ab A Loeef 4n Heah A L ad) BIs AL lu crel An u e A Yn A TT s Iy wen s I Iy 1o K 1ae b 17108 11 Fina Ave ref 4n 80 12 Fiinn Avetad) s ol Vo L&l o bun 40 1) Cnion Fas 1al 4 | Unton ac et 1 4 o b u i 1 Wl Marsband 4o THE EVENING STAR, WASHINGTON, D. C. SPECIALTIES GAIN ON CURB EXCHANGE General Movement Irregular. C. M. & St. Paul Bonds Are in Active Demand. BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star. NEW YORK, January 16.—Irregu- lar price movements characterized trading on the Curb Exchange at the outset of the week. Interest, how- ever, centered not in the movemnt of th main body of stocks but in indivi- dual stocks. In the bond division the ngW Chi- eago, Milwaukee and St. Paul bond obligations were in active demand at | higher prices, following the recent ap- proval by the Interstate Commerce Commission of the re-capitalization plan. In the mining section Newmont, after early weakness rallied for a gain of 3 points on the day. Another fea- ture was the heavy speculation at new high prices in Golden Centre Mines. Opening on a block of 5,600 shares at 77« the stock recorded an overnight jump of a full point. Reports were current of important developments at the company’s Bolivia property. Vacuum Oil increased its 5-point gain of last week another 2': points. dently the market was anticipating some form of capital readjustment. Other oils fluctuated erratically, with the tendency toward lower levels, not- | withstanding the decided improvement in the industry. Among public utilities, Brooklyn City Railroad was bid up to within a small ction of the 1927 high. American Department Stores went forward into ! new high ground, and there was spe- | c1al strength in Gobel common. M vale Co. was moving forward sympa- thetically, with sfrength in related is- sues on the Stock Exchange. Else- | where there was little feature to the trading. Oprations for the most part were confined to evening-up of both long and short accounts. Evi- B New Bond Issues [ | NEW YORK, January 16 -spvrmh — | iXI 1ssue of $5,000,000 State of Vermont | 1 bonds, maturing serially | amounts on December 1 of ! 19 to 1948. inclusive. and priced at 100. is being marketed today y J. P. Morgan & Co. Public offering 1s being made today | of the new issue of $4,000,000 Paper Co, Ltd.. 6 per cent 20-year | gold debentures, " due Febru- | 1, 1948. The bonds are priced ;l(‘: eld about 5 per cent, and are being offered by the Royal Securi- ties Corporation. | A new issue of $2.500,000 Northwest Engineering Co. 10-year 6 per cent| sinking fund gold debentures, maturing January 1, 1938, and priced at 100, today by Folds, Buc Dillon & Co. and th rust Co. of Il n & Co. Thompson Ross & Waters & Co. issue c.uxtml | Hamblet series yield ove today by Eld- $2.000.000 do made ue ing is beir A banking group comprised of th . Bank, Bank of Montreal, | & Co and A. E. Ames & Co.. | Ter today $1.800.000 Provinee of | nada) 41, per cent | » gold bonds. due Dec 1, 1947, The bonds are priced o 430 per cent. PLANES TO BE BUILT. ry 16 (" $1.000.000 plant Corporation of r here. will next Thurs- | r of the rporation an- of the Fokker Afrcr An Glend 1t day, Ohio sponsor nounced last nig Terms of the build r completion of ) elson sald plane Fokker butlder and designer concern SILVER QUOTATIONS W YORK. January 16 (4 571 Mexican dollars, 437, GERMAN BONDS AND STOC)\S 1 By Special Leased Wira to The St NEW YORK, January 16 Valley of “the 1 contract call plant by ne. | minent a ; heads the dver ‘ il Hamh Sn G0y & 4n e Hamire An 'y o | Vo | VAR G Gen Blec) FFDERAL LAND BANK BONDS | Rate M TREASURY CERTIFICATES ettty 1 & W A & FOREIGN EXCHANGE Bl vy Wl 0 Wa Cunwh it MONDAY, JANUARY 16, 1928 NEW YORK CURB MARKET L Received by Private Wire Direct & The Star Office Sales INDEPENDENT OIL STOCKS. k" con_onnas. 95 -lj; Am 'M:E'.mnnvu e % Following 15 a list of stocks and bonds’ traded in on the New York Curb Mar- ket today: Sales in INDUSTRIAS hundrede. 6 Acetol Prod. 1 Ala Gt Souii: 11, Ala Gt Sou pfd i Alb Pow pfd 1 Alison_Drug. S5 EE O oy 4 Darby Pet £ Derhy O&Rat 1 Emp G&F 7s ptd 99 2 Emp G&i B4 Drd 1051 ibwon_ 01l co, 7 Gl 18 Houston Gulf G o Intercont’l # Leonard Oil 3 Magdal Sy 10 Mex O & Mount Prod Nat Fuel Gas S2EI5Te TSR SRR SRR N eeEe oy B . i 45 Am Roilin Am Roin N roow B b bt Dl & EEHLEESHRES S SEFETS L SR Fruit. Plywood ! sAeECeeE 10 Ak A O 1 ) Chiew brch 00 Coni o1l c 0 Gl 4300 Humble il lk R 000 T O Caiy - o % 15300 Liiter Pet MII A l N"‘ 3 or Am n D61 500 Oivto O Gt W 1t 17 o onio Q- o u Con ptd.. 1400 l Inllll} U & ta o 100 } i 10 6t et 80O South 200 South % 5 pid Wi d0% 41005 0 id &SP 1 lis Co & 5008 0 Olio Alum Uten, 3700 Vacuum 0y Hail_ Ma Pat FirAr bbott Dairics 6s. 101 1 Ala P A 2 Ala Pow Os. 16 Alum Co Amy & El 6e: 10 Am Nat Gas 6138 8 m Pow & Lt Gs. 1os “Am R 5 Anaconda bix A o Appal ATk P& & Dorant Mot L Dip bt ¢ Roti M 0. . t StateslPow B Bond&sh pfd B&SH Corp. . napst In Amoe A sim B e Bates Vaive B ts Bell T Can 1 1 P& wi iy P Ry 18 °A 101 % oy T i Com Ed 41 21 Contl 0Nl § I8 Contl Se xS J0E 10 Em ¢ 11 Firest awnWAPD Loy s A o > s 242720077 FORFIGN BONDS W T wa RO wa M KL 7ty Sty Ta A o B sew ey Commodity News CHICAGO. January 16 (Spectaly Cold storage supplies of butter have dropped sharply i the last month o NOW fotal G300 000 pounds This compares with 83224000 pounds on December t American cheese supplies fell from & Pounds KAN Poet Co crey The Palm Olive WL spend $4.500 000 for a 87 story bullding o Chicagy The com pany rocently was formied by a con wlldation of the Palm Olive o and the Pect Brothers Soap (v of Kansas City SAN FRANCISCO - Seven Californts ities started heavy shipugents caulifower this week The shipmen will continne tn large volume for fortnight The acreage of this evp Caltfornta this vear 18 12400 and Vields per acte are I praspect rORL olig ¢ A hes -.\ U VKUY of Bpring wool 1 A Chicago i at 4 ® poind, U fiecces were quoted at 49a30, grease 7000 pounds to 47,738 000 | { PRICES GO HIGHER INCOTTON MARKET Firm Cables and Boll Weevil Report Are Cause of Advancing Values. By the Associated Pre NEW YORK, January 16.—The cot- ton market opened steady today at an advance of 13 to 17 points on covering and local or trade buying stimulated by relatively firm Liverpool cables and a bullish interpretation of the Govern- gwn! report on boll weevil in hiberna- on March sold up to 19.03 and May to 19.15, but these prices attracted realiz- ing and after the initial buying orders had been supplied prices sagged off a few points from the best. The South was reported a moderate seller on the setback. which carried prices off to 1894 for March and 1905. for May during the first hour or, within 8 to 10 points of Saturday’s closing quotations. Private cables reported covering, with continental and Bombay buying on the bullish boll weevil report in the Liver- pool market. view of the boll weevil report appeared | to have been supplied on the opening advance, and the market was very quiet later in the morning, prices sag- WHEAT VALUES SAG IN TODAY’S DEALINGS Failure of Predicted Cold Wave to, Develop Factor in Lower Grain Prices. C'HKCABO January 16 (P).—Failure of ‘a predicted cold wave to develop tended to make wheat prices average lower early today. Besides, world ship- ments of wheat were large and the amount on ocean pa.qugz showed 2 increase. Opening at % decline to advance, wheat. later showed a dispos! tion to sag. Corn and oats were firme :gr"l.l' ;knngnz at r’l‘ o ‘:.mldunce ar ently scoriny tional gal: Provisions held st o 3 ¥ FRUIT FOR ENGLAND. LIVERPOOL, England, January (#)—The Leyland Liner Daytonian : rived here today with 5,984 boxes grapefrult and oranges, inaugurating direct fruit service from Florida to E: land. The shipment included a gift fruit from Gov. John W. Martin to * Lord Mayor of London, and a simi gift from the mayor of Jacksonville the Lord Mayor of Liverpool. R Daily air-liners exclusively for se ond-class passengers now operate be n»n !zmdon and Par'.s The buying promoted by the bullish | | 619 ging off to 18.92 for March and 19.01 | - First Deed of Tru for May, T\’ about Lfl to 12 %odizxu f!c‘lml the early high levels. At midday active | Notes for Sale Secured by months were about 5 to 8 points neU Improved Real Estate in the higher. District of Columbia WOOL PRICES RISE. | BOSTON, January 16 (Special).— | Bullish sentiment continued unabated at the start of the week in the Boston | wool markef, reflecting rising prices in foreign wool markets and the pro- nounced advances of last week in do- mestic sorts. Fine territory was quoted | today at 1.15a1.18, clean basis; French combing at 1.07a1.10, half blood at 105 21.10, three-eighths blood, 95 to 1.00, | and quarter blood at 85a30. Fine Ohio | Principal and Interest GUARANTEED REAL ESTATE MORTGAGE & GUARANTY CORPORATION Main 1403 26 Jackson Place Resources Over $4,000,000 L. E. Breuninger, President basis, half blood and three-eighths blood | at 49a50 and quarter blood at 50. Texas | | 12-month wool was quoted at 1.15a1.20 | |and Fall Texas at 1.07a1.10. —for the conven- ience of the many Departmental em- ployes, and others who patronize Our Savings Department. “One Dollar or more will open a Savings Account. 3% Paid on Savirgs National ... .. Metropolitan Bank 15th St., Opposite U. S. Treasury Loans on Real Estate 3.3 or 10 Years WE BELIEVE OUR ECONOMICAL PLAN OF MAKING LOANS WiLL APPEAL TO YOU Res Apartments end Business Prop erties in the District, and nearby Montgomery LOAN Correspondeat Co., Md. OSSEPHELPS Jobn Mancock Mutsal Insurance Coo 1417 K St Main 939 nees, Founded 1907 e v e I g A, Read Up on Safety In the Booklet Below e OU will boinhtulod in reading “H-l» ing Scf'tyx. Pay Profits"’—a new book- let just published. .How to obtain up to 6139 interest in the oldest form of in- vestment is graphically explained. This booklet tells how an old estabiished invest- ment banking institution with more than a half-century of continuous growth offers you prompt pay- . ment of principal and more interest. e e e MALL COUPON e ————— THE F.H.SMITH CO. Iavestment Bandore Foamded 1873 Smith Building Washington, D. C. S5SN8t NW.—Telophane: Main §460 Branch Ofovs e New Yord - Chiougo-and ailer Oy Gentlomen = Kindly send me copy of vour new ilhstrated ook which describes 043 % Fust Mortgage Mmvestneats NAME. ..sconass ADDRESS § . " - - - R ————— | | - |