Evening Star Newspaper, January 17, 1928, Page 15

FINANCTADS ' wHE EVENING STAR, WASHINGTON. D. 0. TURSDAY, TANUARY Y7, 107! ® 'Money—Call loans, 5% BEST GRADE BONDS INGOOD DEMAND _Broadest Trade and Largest Gains in Speculative Securities Today. BY CHARLES F. SPEARE. Bpecial Dispatch to The Star. NEW YORK, January 17.—The high- renewal rate for money today had no :{IK‘K on the best grade of bonds which were in good demand. some of them early duplicating the prices of last Jear. It was in the speculative issues, owever, that the broadest trading oc- fcurred as well as the largest advances. > Within the last few days there has fbeen a revival in the strong 4 per cent Irailroad mortgages and in the 4': < per cent rails and public ut *This is due to a return to the market lof institutions that ceased buying in “December and are building up their bond accounts again. Meanwhile, there has been a decline of 1 to 2 points in ‘some of the issues which they prefer. Savings banks normally re-enter the market after January 15, as then they lare able to approximate the net gam from their deposits following the turn- | fover around the first of the vear. . Strong Features in Rails. ! Some of the strong features in the mall lst were Canadian o ¢ Peansylvania_consolidated 4°:s. Union | Pacific 55, Union Pacific 4s and New SYork Central 5s. There was good buy- | 4ng of such public utilities as Ameri ican Telephone & Telegraph _5s amd; $1,s. Duquesne Light 4l:s, Northern States Power 5s. Philadel Electric s Columbia Gas & Electric 5s and | 4n New Orleans Public Service 5s “which touched par. Toledo Edison s | D are gradually dropping down to the | 11 price of 107': u‘t‘h‘: heaviest transactions were in | speculative rails. All of the St. Paul fefaulted bonds were at the highest prices on the movement. in sympathy with the strength of the new issues snto which they are to be exchanged [ e BONDS = ) (TN S STEADY Direct to The Star Quotations to 2:55 p.an.—Final Quotations in 5:30 Edition. UNITED STATES. (Sales are 8 ales. Lib1st4%s 9 10311 1039 103 59 10019 100 18 100 19 Lib3d ais. Sinelair Ol 6s. oo, 256, | Sinclair 011 6 ) Lib3%s... 130 10114 10112 10112 Lib 4th 438 180 10827 10825 105 26 US 3% 43-4 30 10219 10219 10219 6 11516 11515 11515 US4¥ss2 FOR Argentine 6s B. ... Australia 5s 1955. . Australia 55 1957.. Anstria 7s. Bank of Chile 612s. Belgium 6s. Relgium 61 Belgium 7s 1! Belgium 78 1 Belgium 7 Belgium §s. Bordeaux 6s. Brazil 61gs.. Brazil T Brazil 8s. Bremen, State 7s. Buenos Aires 7s 57, Buenos Aires 78 58 Canada §s Canada 5s Pacific 4s.| C; 53.... Danish Munic §s A Danish Munic §s B. Denmark 6s....... DE15%s Nov353.. Dutch East 1 6s 47, Salvador 8s 48.. Finland sf 6s 45... Finland 7s........ FramericanT4s... French T French French German Frisco incomes, soon to be called at|G par, were dealt in on a large scale between 101 and 101%. International Great Northern adjustments, another bond likely to be taken up soon at par, moved along Wwith the Frisco issues. The Seaboard Air Line refunding 4s and consolidated 6s, Denver & Rio Grande Western 5s and Ontario & ‘Western 4s were heavy. Less Interest in Industrials. There was less interest in the indus- trial members of the list. Fluctuations ‘were small and the trend r. An advance of a point in Interboro Rapid Transit_6s, contrasted with heaviness in the 5 per cent bonds. Japanese government, municipal and public utility bonds reflected an in- Ccrease in interest in this group. French rails and industrials. Belgian 6s 2nd 8s, German public utilities and industrials and various South American govern- ment and municipal bonds all suggested the demand fdt high-yiclding, semi- speculative bonds. The refunding program of public util- ity companies seems to be enlarging to .4nclude high dividend-bearing vreferred stocks. A case in point is the expected issue of a 5 per cent preferred stock by the Consolidated Gas Co. of Balti- more 1o retire various old preferred is- sues, with dividends between 6!; and 8 per cent. —_——— ¢ Washington Stock Exchange Sales. Electric cons. 5s—$2,000 at| 1031;. $1,000 at 103%;. | Washington Gas 65 “B"—8$1.000 at 108%. | Washington Rwy. & Electric 45—8$1,000 | at 92. Washington Rwy. & Electric gen. 65— $1.000 at 103%. Capital Traction Co —10 at 109%. Potomac Electric 5= = pfd.—5 at 1085 Pederal-American Co. com. at 39. Mergentheler Linotype—4 at 108, 16 l!‘ 08. . Peoples Drug Stores pfd.—20 at 122, 10 at 122, 10 at 122 Banitary Grocery Co. pfd—S$ at 105, 25 at 105. | After Call. | Washington Gas 6s “A"—$1,000 at 106.| ‘Potomac Electric 6% pfd.—5 at 112 Peoples Drug Stores pfd.—5 at 122, 20 at 121, 10 at 121, 5 at 121 Potomac Eectric 6% pfd—20 at 112} 20 at 112 | Potomac Electric 515 % pfd.—10at 10875 | Potomac Electric 67, ptd.—2 at 111%. | and 6%. i Bid and Asked Prices. BONDS CTILITY » Ger Gen Elec Greek 7. Haiti 6s. Italy 7s. Italy Pub 7s. Marseille 6s.... Mexico 45 10 asn Mexico 5 Paris-Ly-Med 7s. Paris-Orleans 7s Peru 6s'67 w. Riode Jan Riode Jan 8s 47 Rio Gr Do Sul Rome 6%s.. -2 Sao Paulo City 8s. ., | Sao Pauio 85 1936. . Sao Paulo 1950.. on (PW) eine 78 42 Ser Swiss 5148 1946 Swiss Confed 8 Toho El Pow Ts. Tokio 518 1961. Utd Kingm § s 1 | Utd Kingm 5% 837 15 | Utd SteamCopen 6s 2 96 2 Uruguay 8s Yokohama MISCELLANEOUS. Ajax Rubber Am AgriChe Am Smit & R 6s. Am Sugar Ref 65 AmT&Teltr4 AnT&Tecltr Am T & T st 5 Am Tel & Tel Am Water Wks o8 | Am Writ Paper 65 Anaconda 1st 68 Anaconda cv db Ts. Andes Copper 7. | Armour&Co 415835 | Armour Del 5%s | Barnsda) Woasbington Gis Wash, Gas s wries A Warh, Gan Bs rerien Wask| Koy & Vi Waeh, ey & Fieo Atiantic Refin is. . bile Copper 3. ., ank ol deb 5x n Con) Md 18t is | ConGan N Y G%w o o Wardmas Park BATIONAL BANKS § Canits . Tiistrics Vrmers & Wechunive oAl t,n.:{; ot T Feronn Nations) Houk of Wark TRUST COMPANTES ovesial Trust 01 Wasts Lon & 7 Bonk of Bt Wastn i ot Mo A s FIRE INSLUBANCY Consumers Pow on Cuban Am Bug 88 Cuba Cane by, ., Dery (1) G Fhet ront b totim It Tel&Teler | Kayser & Co Kan City 1 & 1. Kan G & Vi 6 Kelly-Bpring ¥ Lok w Lasclede Louiny G & I Gn Manat) Bug of 148 Munt Suwer bs 43 1 Srwer dehs in Co st 4% Sou Bell Tel 68, Southwest Bell Stand OIl N J 65 46. 17 EIGN. Sug East Orient 7s. 15 Sales. High. Low. 2:35. | TennElecPow 6s 47 17 93% 93% 93% | Toledo Edn 1st 7s,. 8 99% 99% | United Drug 6. 100 100 1004% 99% 98 31 ‘Warner Sug 7s 41 a9y, | West Elec 5s. 10414 | Westn Union Westinghouse §s., 3 5 Willys-Ov 614s 33. 114% Wilson & Co 1st 6s. 110 - | WinRepeat Ar 7%s 1 1041 | Yn8stn S&T 5s w.i. 69 1‘;“"‘ RAILROAD. 9,:: AtlanticCL1st4s 1 98% 2 93y 984 /4 109% | B&Orf imp 101% | R& O PLEWY 109% 109% | B& O SW 5850, 264 26t | B & O Toledo 48 15 1011 | Brdwy & Tth Av 98% 99 | Bklyn Manhat 6s. 96 964 | Buff R & Pitt 414 10114101 J; 202510516 | SanSIRiABN BT 105 105% | Ganad N, 10912 109% | Canad Pac deb 4 110% 111 | Car Clinch&O 6s 52 110% 110% | Cent of Ga 6s.... . 105% 105% 108-‘: 103% Cent Pac 1st 55 90. 101 - - > - aus~ReBrulomnInnd nRuummn=he 108 108 | Ch&E Dl gn 58 51.. oo o |CB&Q ket I 1 100% 100% | Chi Gt West 45 59. . 107% 107% | CM & StP 4s 25 10612 106% | C M&SLP 48 25 cfs. 18 1184 | CM&StPab s 110% 1001 | CM&SLP deb 4 ofs ST STMICM&StPeviys. 107! 107% | CM&SPev4 1 s32c: 100t 100% } ¢ M & St Pre 4348, 103% 103% | CM&SP rf 438 cf. 100 98l 9812 | CM&SEP cv 58 cfs 100%% 100% | Chi NW 4% s 2037 99 99| Chig NW 95% 96% | ChIRI&P : 92y 921! CRIPac4lswi 102 102% |Chi TH& S E 5 100% 100% | Chi Union Sta 6 100% 100% | Chi & W Ind cn 27% 27% | C& W IS8 6 42 424 | Clev Term 5s. 91% 91% | Clev Term 513 103 1034 | Cuba RR s 102% 103 | Del & Hud 7s 30. .. 108% 108% | Den & Rio G en 4s. 100% 100% | b Rio G West 5s. 101% 101% | Dot United 43 103 ' 103% | Erie 1st cons 4 " 108% 103% | Erie gen 4s. . 1024 102% | Erie conv 45 A. 12 97 97| Erie cvt 58 67 wi. . 9714 974 | FlaEC58T4...... 1022 102% | Gr Trunk stdb 6s. . 102 102% | Grand Trunk 7s... 90% 91 | Great North 4348 w 103's 103% | Great North 5s. ... 106% 106% | Great North 5%s. . 6x 1940, . 110 110 | Great Nor gen 7s. . 82 82% | Hav El Ry 5%s 51. 90% 91| Hud & Man ref 5s. 9912 99% | Hud & Man aj 5s.. 109 10 . | 111 Cent 4% 66. 105% 106 | 11} Central rf 5s 55, 105% 105% | 1) Cent Chi 4. . Int Rapid Tran bs. | Int Rap Tr 58 stpd,103 Int Rapid Tran ¢s. Int Rap Tran s Int & G Nor 1st { Int & G Nor ad 6 Int Rys C A 58 Int Rep C Am 63 41 nt Ry CA 6%sret 23 105% 105% | jowa Cy 103% 104 lowa Cent rf 4s. 104% 105% | o 112% 112% | & ::“iuko-snonu 5. Lehigh Val en A E 1iTv 1T | Long lsre4s4s. .. Sy 10 110 Louls&Nash uni 45 18 S0 ohw | l-ouis & Nash 514s. | Louis & Nash 7s... 3 Man Ry 18t 90. . Market 8t 7s 40. .. M EIRy & L 5851 3 MStP&SSMen és 13 MStP&SSMcnbs. 5 110% 100 7 107% 107% 100's 100% 104% 104% 108% 108 108% 105% 105 105 102% 1024 101% 102 1075 108% 104% 104% 99% 100 105% 105% 105% 105% 109% 109% 101 101 | Mo Pucific g 91% 91% | Mo Pac bs A 105% 105% | Mo Pac is F 7., . 111% 111% | Mob & Ohlo 4758 77 121% “""i Nassan El 4851, 107 Fd o NOTex &M o s | N ¥ Cen gen 3148, 1085 1034 | & ¥ Cenroc e’ 102 102 | NYCentribullll 106% 106% | N ¥ Cent deb 6x 1097 109% | NYChI&SIL 515 u 1025 102% | NY 13 16 104% 10 1065 16 2624 2 1050 103% 5 100 NY NH&H ev Y H HavaHcit 6 9 Y Ont W oist 4n 16 NY O&W gen 4s 56 4 ":':"/- I N Y State ity Al | : y '\\' &‘How P Nor Pac is . 106'5 1064 § N ihern Lac 48, .. 104' 105 | Northern iacr | 65 1674 107% Bi'm Yh% | Ore Bhort L ris 4s. G0 g | Ore Wash 1at ¢n 1045 1045 | Vennsyicon 4hyn. . 10% 108 | Vennsylgen dign . ¥K'a wy | 1ennsyl gen in 118% 118% | Pennnyt bn 64. 107% 1074 | Penusyl Ghyn. . | Pennayi gold 7a 1 1o & K1t 4n 40 Y1 Peorin & K ne 4w Mur Int 4n e ol ort L& 1 b l"h;/. l:‘[r | leading gen 4%, 01 101 | Heading J C 4363 100% 106% 106 106 | BtL IM&S 4 1017 1017% | Btls | M&S kn 108% 106 | Bt L IM&S R&G 48 Uk 948 |SIL&ESKpIARA, 107 107% | BUL&BF 08 D 106 106 | StL&KFad) 6., 106% 1060 | 81 L & 8 I ne 08 10w 10n | BLL&S 108 103 |HLLEW 1 & KCHOL 4% 25 Han A& Arn P as.. | Heub A Loref 4n Beah A L ad) bn Buab A L con 65 HiS ALL ¥ 1m 6 30 A Bou Pacific ref 48 Hou 1ac 4w 29 Sou luc 4 %4n A 11 Hou Ity gen 4u. ... Hou Ity Con Gn 04 Bou Ity 63 46 Tone Ly | Bouthern ity 6% 1165 116, |1 978 % | 4 oz gz | 1 s Lomby I 1 . 102y a 102Y e 1055 u 113% 114% 104% 10dn 106% 107 1004 105 L0bb 1010y TUTEN 101+ ey 104%, 107 105% 101% 10dn Lo, | U 0 honn it 1 1bs 10074, it 10K 10 L 104 104! o4 10 o4 1060, oy e Y 102 4 1040, Iudvy ERTITA 108 funs ! Wi iy [ TR UTEN Wi i Yin » Ity 1l s Vi Ity & 1 6in Wb sl West Moyl s Aot My 10 NEW YORK, Janusry 17 § B0y Sales. High, Low, 2:55. 98%, 98" 08% 98% 9R% % a5 104% 106% 103% 100 107% 107% 1074 95% 105 109 101% 100 106 104 5 1124% 105 102 101% 106 101 981, 9274 101% 121% 109% 116l 99% 1074 112% 1154 5% 1013, 92% 101 94 927% 93 100 98% 109% 104% 694 591y 100 160 100 9k § 1061 1041, 1 105 13 106% 10614 1044, 1184 106 118 106% 1% 4l 93 YLy 108% #o! 10:4% | Yoty 1003, 100% 1004 90 1005 1007 | 1004, | e 1oty [ 11 s 126 Wi 100, jun | 1| 1 126 i v | Jota | 10 1011 UKh K, | 100h 1o, | Phim 1hi | 1ot Lo | 10K Hoo, | 101 101h 1t 10y | 01 LI T L gt JEWEL TEA SALES DOWN [ N ] 1 dewel Tew Cooan 1927 wore 814400 UL g tnat BASI429T In 1926 | barrel, 1.50a3.50. sweet potatoes, barrel, SLIGHTLY LOWER Rally From Early Drop Is Fol- lowed by Another Reaction. By the Associated Press. NEW YORK, January 17.—The cotton market opened barely steady today at a decline of 1 to 11 points under renewed liquidation, and local and Southern sell- ing promoted by relatively easy Liver- pool cables and yesterday's talk of a slightly easier spot basis in the South. The decline to 18.65 for May con- tracts brought in some trade and com- mission house buying or covering, and the market held fairly steady at rallies of a few points from the lowest at the end of the first hour. Private cables reported there had been some trade calling and covering in Liv- erpool, but that prices were lower under liquidation of London and continental accounts. A larger inquiry for cotton cloths from the Near East and South America was reported in Manchester. The new low prices made by the opening decline brought in some cover- ing and commission house buying of old crop months, while it looked as if the price of below 18 cents was at- tracting trade or intestment demand for new crop deliverics. The buying was sufficient to absorb the offerings and cause recoveries which carried prices about 2 to 7 points net higher. Private reports of rains in west Texas set the market back near the low levels of the morning, but spot houses were buyers on the decline and prices at midday held fairly steady around 18.70 for May, or within 4 points of yester- day's closing quotations. Baltimore Markets BALTIMORE, cfal).—Live pound, 35a42; old, 30a32; poor and crooked breasts, 25, Spring chickens, 30; Leg- horns, 26a27: poor and thin, 20a22; old hens, 23a28; Leghorns, 20a22; old roosters, 16a18; capons, 32a38; ducks, 27a30; poor and thin, 20a22; geese, 20a 26; guinea fowls, each, 40a85; pigeons, pair, 30a35. Dressed poultry—Turkeys, pound, 38a 40; old, 30a32; poor and crooked breasts, 25; young chickens, 27a28; old, 24a27; capons. 32a40; old roosters, 17a 18; ducks, 25a30; geese, 20a28. Eggs—Receipts, 785 cases; native and nearby current receipts in free cases, | dozen, 40a42: strictly fresh, 44. Butter—Good to fancy creamery, pound, 46a51: prints, 51a53. blocks, 50a52; ladles. 37a38; rolls, 34a36: store packed, 32a33: dairy prints, 34a36; process, 42a43. Hay and Grain Prices. Wheat—No. 2 red Winter. export, 142';; No. 3 red Winter, export, no quotation: No. 2 red Winter, garlicky, domestic, 1.42%;; No. 3 red Winter gar- licky, domestic, no quotation Corn—No. 2 yellow, domestic, No. 2 contract, export. 987 new, 4.10a4.25 per barrel. Oats—No. 2 white. domestic, 64a64';; No. 3 white, domestic, 63a63':. Rye—Nearby. 90a1.00. Hay—Recelipts, 23 tons. arriving in only limited quantity. It} is. therefore, not being officially graded | and sells strictly on its merits, within | range of 16.00a17.00 a ton, timothy and | clover grades. Straws—No. 1 wheat, 11.00a1200 per ton; No. 2 oat, 13.00a14.00 Country Produce. White potatoes, 100 pounds, 1.25a2.00: January 17 (Spe- poultry—Turkeys, 1.02; cob corn, 250a3.00; barrel, 2.50a3.00 be: bushel, 5.00a7.50; beets. bushel. 200a2.25: Brussels sprouts, quart. 10a 20; cabbage. hamper, 1.75a2.50; cauli- flower, crate, 175a2.2: carrots, 100, 3.0084.00; celery, crate, 1.50a3.00; kale. | bushel, 25a35; lettuce, hamper. 2.50a | 3.00; onions. 100 pounds, 150a2.75; oysterplants, 100, 6.0088.00; peppers, | crate, 2.50a4.50; parsnips, basket, 40a 50. peas, bushel, 4.00a4.50: Savoy cab- bage, bushel, 40a60: spinach, bushel 2.00a2.25: tomatoes, crate, 2.50a4.00: turnips, basket, 2t yams, 0 0082.50; barrel, 5. box. 6.50750: grapefruit, box, 3.50a4.50; oranges, box. | 3.7585.00; tangerines, box, 2.75a4.00: strawberrles, quarter, 75a85. 50 | New hay 15 | 1.0 | 2.1502.90. ( Potatoes—Supplies moderate; demand TRADING IS SLOW IN MARKET TODAY Warm Weather and Good Vegetable Supplies Give Summer Aspect. Warm weather this morning was partly responsible for the absence of buying value in the wholesale market. Thye l?arge displays of fruits and vege- tables, more especially the latter, gave the market the appearance of Summer business. Lima and string beans, not so plenti- ful, were included in today’s supplies of vegetables. Liberal supplies of cabbage and potatoes and light suppll:: ngr':edeu. lant and peppers were 3 w?)‘:‘alors repop:tcd ‘modeérate receipts of carrots, onions lll’:,d }eltllt;e, ]!ln:ll:; rices were reported for fow] gprmg chickens, prices of other poultry remaining unchanged. Prices of most commodities this morning were sub- stantially the same as those reported yesterday. Today's Wholesale Prices. Butter — one-pound prints, tub, 51; store packed, 32; storage, 45. 5 Eggs—Fresh, selected, 47a48; hen- nery, 47a50; current receipts, 45. Poultry—Turkeys, alive, 40a42; fowls, 24a25; roosters, 16al17; ducks, 18a20; keats, young, 70a75; old, 35. Dre.ssfi! turkeys, 40a45; Spring chickens, 30a32: roosters, 13; capons, fancy, heavy, 45a 46; small, 35a40; ducks, 25a30; keats, 80a90. Meats, fresh killed—Beef, 20a25; veal, 24a26; lamb, 26a27; fresh hams, 22; loins, 22a23; fresh shoulders, 18; Smoked hams, 20a22; smoked shoulders, 16; strip bacon, 20a22; lard, 12a12%; calves, alive, 16; lambs, alive, 13. Fruit and Vegetable Review. Today's market report on fruits and vegetables compiled by the Market News Service Bureau of Agricultural Eco- nomics, says: 'Apples—Supplies moderate; demand light, market steady; barrels, few sales, Virginia unclassified Black Twigs, 2’2 inches up, 6.50a7.00; 2%-inch Grimes, United States No. 1, considerable scald- ed, 6.00: boxes, Washington, medium to large size extra fancy Delicious, 4.25; Romes, mostly 3.00; Staymans, 3.00a 3.25: bushel baskets, Pennsylvania, United States No. 1, 2! inches up, Staymans, 2.25a2.50; mostly 2.25: 2% inches up, 1.50a1.75; unclassified Smokehouse, 2'» inches up, 2.00. Cabbage— Supplies moderate; demand moderate, market about steady: old stock; New York, bulk per ton Dannish type, 100.00a125.00; new stock, Texas, barrel crates, round type, 3.50a3.75; bulk per _ton, round type, 70.00; Florida, 11: bushel hampers, pointed type, 2.25a2.35. Celery — Supplies liberal; demand moderate, market about steady: New Lork, 2-3 crates, 2.75. poorer low as 2.25; California crates, 5.25a6.00, mostly, 5.50a5.75. Lettuce—Supplies moderate; demand | moderate, market steady; Arizona, Salt River Valley, crates Iceberg type, 4-5 dozen, 325. Arizona, Yuma Valle crates Iceberg type, 4-5 dozen, 3.5t California, Imperial Valley. crates Ice- | berg type, 4-5 dozen, 3.85a4.00; Florida, 11;-bushel hampers Big Boston type. i mostly_ordinary quality and 1.50a1.75. 52a53; 4“4 condition, mand moderate, market firm; Florida, 7-8-bushel hampers, green, fancy, 8.00 28.25. Pep) light; demand moderate, et firm; Florida, pepper crates, fine quality and condition, 4.5¢ choice, fair quality and condition, 3.50; 2.5 according to quality and con~ Eggplant, squash and gucumbers— No supplies on market. Carrots—Supplies moderate; demand moderate, market about steady; Call- fornia and Texas, Western lettuce, crates, 3.25a3.50. Beets—Supplies light; demand light, market steady; Texas, Western lettuce, crates, 3.25a3.50. Cauliflower—Supplies liberal; demand light, market weak; California, pony 5‘:1"‘ bgonz.zu. ‘awberries—Supplies very light; de- mand light, market dull; Florida, pony refrigerators, Misslonarys, 90 per quart. BANK DEPOSITS GAIN. BALTIMORE, January 17 (Special). —Total bank deposits of the city reached $610,948,077 on December 31, 1927, a new high mark. This was an increase of $47,805,764 in a year. Com- mercial bank deposits totaled $432,287,- 603, compared with $401,758,901 on December 31, 1926, a gain of $30,758,- 901. Savings bank deposits amounted ouzfl;z;fl,“fl.fll, an Increase of $17,- dition, ‘TREASURY NOTES. — e Héflerg sHouTd consult thelr HakWle % once, as exchange privilege will expire shortly, Third Liberty Loan Bonds will cease to bear interest on September 15, 1928. A. W. MELLON - Becretary of the Treasury. Washington, January 16th, 1928, Standards weights they EOPLE of Persia have a standard for measur- ing weight which they call the Rik. It is equivalent to 17.075 pounds. For smaller use the Tabris, 6.547 pounds, or the Miskal, 0.0102 pound. The standards of measuring weight vary from country to country and from time to time. But the standard of measuring investments does not vary. It is represented by the safety and return of the particular investment, and for this reason the First Mortgages offered by Swartzell, Rheem & Hensey Company have qualified as the standard on account of the facts that no investor has ever suffered loss and because each interest payment has beem sent out when due. Onions—Supplies moderate; moderate, market about steady: Michi- gan and Ohio, 100-pound sacks yellows, U. S. No. 1, medium to large moderate, market about steady; Michi- gan. 150-pound sacks Russet Rural U. 8. No. 1, 3.25a3.35: Minnesota, 15 pound sacks round whites, U. 8. No. 1, 3.15a3.25 Maine, 120-pound _sacks Green Mountains, U. S. No. 1. 2.75a2 90. Spinach — Supplies light. demand moderate, market firm; Texas, bushel baskets Savoy type, few sales, 3.00; Vir- ginta, Norfolk section. bushel baskets Savoy type. ordinary quality and con- dition, 1.75a2.00 . ‘Tomatoes — Supplies moderate: de- mand moderate, market steady: un- known origin, repacked in New York City. ‘threes. ripes, wrapped, fancy count. 275300 choice count, 2.00a 275; Florida, sixes, green, ripes and turning, wrapped. best, fancy count.! 5.00a5.50: choice count, 4.00u4.50, fair | quality and condition, fancy count, 3.5004.00° choice count 2.5023.00. rng beans—Supplies light; de- F. B. KEECH & COMPANY Members of the New 1510 H STREET, N. W. New York, N.Y. 52 Broadway Chici 231 So. La Salle St. York Stock Exchange ..WASHINGTON, D. C. n. Providence, R. 1. Grosvenor Building Private Wires to Baltimore Boston Providence Chicago New York Richmond Members of Washington Stock Exchange New York Cotton Exchange New York Curb Market Chicago Stock Exchange Cable “Keecheo™ If You Ave Interested i The Chicago Board of Trade New Orleans Cotton Exchange Liverpool Cotton Exchange, Ltd. (Associate members) Telephone Main 245.6-7 n a Protected Security 6'2% Insured Mortgage Bonds he Federal Security & Mortgage Company will interest you, 11 Bonds are unconditionally Cuaranteed as to principal and interest by the Federal Security and Mortgage Co urety Co Yok TesOnree State Life Tnsuance 1 of aver three mill trusteed by a Jocal hank ervatively appraised owner tict. DoContangible Tax up to 5 ALl Maturities 2 0. C. E. Moran & Co, 1716 11 Street N W, Washington 1) ( Pase sond we | ame . Moran & Co. mpany, and the Fguitable of New York (under supervision of the new department) with combined jon dollars. Tndependently Secured by trusts acenpicd homes in the s retnded by the Company to 10 years Tovestment Bankers 1710 H Street NW Tsured Mortgage Whether you able to you. » 58 YEARS will be in Persia, China, or here in Washington this standard is the same and is avail- Swartzell. Rheem & Hensey Company Morl§ 727 F1 FTE_Ega TH STREET.N.W. Washington, D.C. WITHOUT LOSS TO AN INVESTOR Bankers CONTINENTAL PAPER & BAG MILLS First and CORPORATION Refunding Mortgage 6!2 Per Cent Twenty Year Sinking Fund Gold Bonds, Series “A™ On November 1, 1 exchange its 795 Cumulative Preferred Stock for the above me an offer was made by International Paper Company to od bonds, provided 90% of the same were deposited with The Chase Nation City of New York, as Depositary, prior to December 15, 1927 Att of the aforementioned offer were duly forwarded by the undersigned to 3 dealers who origiv ‘ly participated in the Syndicate which distributed the a. mentioned bonds, for communication to the bondholders. A subs e ial amount of these bonds has been deposited but not enough to meet the requirements of the offer made by the Internationa! Pape: Company. The International Paper Com- pany, having previously made an extension to January 16, 1928, now has an nounced that it will extend its offer to and including March 1, 1928. By the terms of this offer the International Paper Company agreed to exchange 8% shares of its 79 s Cumulative Preferred Stock for each $1,000 principal amao of Continenta! Paper & Bag Mills Corporation First nd Refund Rage 6'2 per cent Twenty Year Sinking Fund Gold Bonds, Series “A," with all coupons maturing after August 1, 1927, attached, and to make an appropriate dividend adjustment in cash so that each bondholder exchanging huis bonds for such preferred stock would be entitled to receive an amount equal to dividends at the rate of 7%, per annum on his interest in the shares deliverable under the ofter, ued from August 1, 1927, to the date from which the shares of preferred stock commence to draw dividends, namely, the regular quarterly dividend pay- ment date next preceding the date of the delivery of such preferred stock On November st the stock was equivalent to 85 bonds. At current quotations for the International Paper Company 7% Cumu- lative Preferred Stock the exchange is equivalent to over 83'2 flat for such bonds tive, exchange at the then market price for the preferred at for the Continental Paper & Bag Mills Corporation In the opinion of the undersigned, it is to the best interests of the bondholders that they take advantage of this offer of International Paper Company. Since 909 of the outstanding bonds must be depasited before this offer becomes effecs mportant that all bondh it is very 1\ complete statement of this oiler amd sopies of the obtained from the undersigned. ders deposit their bands promptly. A E)\\ul .‘;:eemeu( way be Chase Securities Corporation Bankers Trust Company Redmond & Co Continental National Company The Union Trust Company, Cleveland