Evening Star Newspaper, September 19, 1928, Page 15

NG STAR, WASHINGTON, D. C, WEDNESDAY, SEPTEMBER 19, 1928. FINANCIAL. K. G. SOUTHERN GAINS INDUSTRIAL BONDS | (o somx_BONDS roex v | WEATHER AFFECT IN AUGUST EARNINGS IEDINTRONG e e | WHOLESHE NART e e e FINANCIAL,' < SAFE FIRST MORTGAGES REAL ESTATE LOANS We 4re in a position to make SECOND TRUST loans on D. C. property on very convenient terms. .Special attention given small loans. W. H. WEST COMPANY ded 1894 1519 K Street Main 9900 MONEY MAKES MONEY Money will work for you and provide a positive income, if it is well placed in a safe in- ever—Northern Pacific Shows Increase. %|Merchants Well Supplied With Midweek Receipts. - By the Associated Press. ” NEW YORK, September 19.— The ket, With Trading Quiet in Other Issues. BY CHARLES F. SPEARE. {7 secial Dispateh to The Star. NEW YORK, September 19.—A large proportion of the transactions in bonds today was absorbed by the industrial convertibles. These were Huugmt. with es some reselling. r 7s were again the fea- I AR Rt block m,m came out from 151 to , 8 mulmumdvmm of 3# session in spite of the the pears to be out of the Ana- mnwfia 7s, which were fraction- ally lower. Anglo-Chilean Nitrate 78 ‘were back (”“':’ after making a new low recently. of ¥%. The movement in Liquid Carbonlc stock brought about a gain of nearly 6 points in the 6 per cent convertibles, which are also up 10 points this week. Barnsdall convertible 6s and Public Service of New Jersey 41;s each lost about a point. Brooklyn Union Gas 515 rose 2 points and then dropped back. Storm Hurts Seaboard. The effect of the storm in Florida was shown on Seaboard Air Line issues to & moderate extent. The Florida 6s de- clined 1% points. while the Consolida- tion 6s were up fractionally. In the out- side market Florida Power & Light first 65 reacted slightly. They have success- fully wnt.heredsm severe crises in Florida since 1926. Small declines took place in high- grade rails and public utilities, excep- tions being Buffalo, Rochester & Pitts- burgh 4%s and Pennsylvania general 415s. United States Liberty issues were firm. In the foreign department there were small losses in German, Italian and Japanese issues. Bolivia 7s de- clined 1 in anticipation of the new ssue. * The bulk of the new financing an- mounced today was made up of the $9,- 000,000 State 6f Illinois 4 per cent loan and $3,600,000 State of Mississippi 4zs. This is the largest amount of tax- exempt bonds in some time. An issue of $2,500,000 Carolina Power & Light first refunding 5s was advertised as all sold at 9912. The old bonds have been selling at 100%.. The policy of more than mee the market on new offerings is resul in very satisfac- tory sales. Stocks on Produce ixclunge. NEW YORK, September 19 (A).— m:«mm:f.mnuuonwe Produce fter were $9,137,902. -Chevrolet Gains. JYORK, September 19 (P We cen assist you in refinancing Chile 78 1943...... Colombia 6s Jan 61. Con Pow Japan 7s. Copenhagen 4% '53 Czecho 8s 1952 Denmark 6 . DEI5%s Mch §3.. Dutch Kast 168 47 Dutch East 1 6s 63, E£1 Salvador Finland 5%s. Finland s £ 6s 45 Finland 7s.. . Framerican T%s. .. French 7s. French 73! German K1 P 6% Tokio 638 1961. Utd Kingm 5§829. &2 | UtaKingam 6445 37 Uruguay $s 109 104% 103 4 103% 102% 108% 111 90% "118% 104% 108% 104 110% 110% 907% 118% 104 108% ‘MISCELLANEOUS. LEHMAN'S TIRE SHOP 12th & KNW. i {5, Mortgages Investments JAMES Y. PENNEBAKER Main 5328 1520K St. N.W. Construction Loan| Applications Invited at 5%% Glover & Flather 1508 H St. N.W. Main 1753 REAL ESTATE LOANS Atlantic Refin Barnsdall 68 194f Bell Tel Pa 58 B... Bell Tel Pa5sC... Bethlehm Sti pmbs Beth Steel T 5 Beth Steel 5% Bethlehem Steel Lnt Tel&Teleg 438 J Kayser & Co 6%s Kan City P& L 6s.. Lackawanna Stl 6. Laclede 6s. . . Laclede G 6%s62.. Liggett & Myers 7s Lorillard 68....... ManatiSug sf 7%s. Mont Power deb bs New Kngland Tel 51 North Am Kdis Pacific Gas & £1 Paramount Pathe Exchange Phila Co 63 67 w Philips Petro b 3 1 18 3 - - 104% Buff R & Pitt 4%, Can Nat 4%830... .| Can Nat 418 64.... Can Nat 448 b7... Can Nor 41481935, . 50 50 9. CMSP&Pacad) 6303288 178 Chi & NW gen ¢s.. ChiR1& Preds.. CR1Pace%swi. ChiTH&S E 5s. Chi Un Sta 4%s.... C& W 16%s62.... CCC&StL §%s B 17 CCC&StLrtesA Colo & Sou 4% Cuba R R 5t Cuba RR 7 Cuba Nor 5% Del & Hud 1st rf Den & Rio G cn 4 D R10 G West b3... rie Gen 4 Krleconv 4sB. Eriecvt 6867 w Erie conv ext 7s. Erie Genessee R Fla East C 68 74, Gr Trunk stdb 6s Int&GtNoradj Int Ry C A 6% Towa Cent rf 48 Kansas City S 3s. Kansas City 8 6s. Kan City Term 4s. Louls & Nash 5%s. Man Ry 1st 90..... Mich Cen deb 48 29. Minn & StL ref ¢s. M St P&SSM cn 4s. M StF & SSM 634s. MK&ToprinbsA. Mo Pacific gen ¢s. . Mob&Ohio gn 4s 38. MontrealTr 5s B 55. Mont Trm ref 6s 41 Nassau Bl 4881.q. NYChi&StL 6 ¥sA . NYChi&StL 5%4sB. Northera Pacific 48 Nor Pao 435 2047, Ore Short L rfs 4s. Pennsyl gen 4 Pennsy| gen 6s. Pennsy| 68 6 Pennsyl 6%s. Pennsy) gold 7s... PCC&StLS6sA.. PCC&StL 53 B 7 Portland EI P L Port RL&P 7% Reading gen ¢ RlArk&La%s St L IM&S ¢s29. StL t M&S gn b8 31 St L IM&S R&G 4s. StL&SFplesA. StL&SFre%sis StL&SFprinbs. StL&SFincés... St LS Wcon 4s32. St P& KCShL 4%s SanA & Arn P SB AL FIa6s35 A, Sou Pac ¢8 29, Sou Pac elt 4s. Sou Pacific ref 4i Sou Pac 4%s SonRy Mo & ‘Term AssoS L 4s.. Texas & Pacitic 15t Tex & Pac 53 B 1977 Third Ave ref 4s 60 Third Ave adj 6s. Tol St L & W 4s 50. Virginia Ry 18t Whash 4%8'78 rcts 4s. West Md 5%877... Western Pacific 6s. W hore 4s 2361 wi &L Ecnds. WisCen gn 4s 49.. o 93% 98% 964 9T 97h 17 112% 87l 9814 102% 987 99% 99% 91 98% 5 1054 5 85 68% 96% 93% 7% 6 99 5 96% 11 9% 2 9% 1 99% 1 102% 99% 23 99% 2 99% 96% 106% 94 9% a1 9y 80% 839 943, 103 111% 84 106% 13 98% 108% 112% 264 1% 99% 88% 100% 98% 80% S0% 100 934 97 12% 7% 106 69% 9% 14% 104%" 101% To% 100% 994 93 98% 99% 59% 106% 108% 974 106% 106% 101% 994 98% 102% 101 107% 1034 110% 102% 107% 107% 102 107% 99% 943 98% 1 88% 3 109% 6 101 2 69 124 66% 13 _91% 90! 1102 102 9 3 80 10 98 2 98 5 88 8TW 4 9 89 1 82% 82% 3% 987 96% 7% 9% 17 112% 87T4% 99'4 102% 99 994 99% 9415 99 105% 85 685 963 94 1% 96% 106% 94N 9% 1% 9ty 8L 83% 94% 103% 111% 84 106% 13 98% 108% 1121 26% 1% | 8 99% 883% 100% 98% 80% 80% 100 93% 97 124 kel 100 91 106 69% 991 15 834 104% 101% 8% 100% 99% 93 98%, 99% 59% 1064% 108% 97% 106% 108% 101% 99% 8% 102% 102 107% 103% 110% 102% 107% 107% 102 107% 99% 94% 98% 106% 90% 102 98% 80 98 98 88 90 82% SHORT-TERM SECURITIES. (Reported by J & W. Seligman & Co.) Aluminum Co. of Am( er. 5 Radjator 41as 104 AerC el et Co. ds 10 75 | Chesa. & Ohio Ry. 98% lumbia_Gas & Elec. 55 1952. . codlhy Packing Co. 5'%s 1937 uquesne Lighting 4% Ofter. Meat Prices Same. Inclement weather today brought business at Center Market to practical- ly a standstill. Merchants were well supplied with the midweek receipts of fruits and vegetables of almost every variety, but the demand left their stands too well filled for comfort. No further advances were noted to- day in either poultry or meat prices. Eggs and butter remained at a stand- still also. Wholesalers today did a greater part of their business with the neighborhood stores. Today's Wholesale Prices. Butter—One-pound prints, 50a51; tub, 49a50; store packed, 30a32. Eggs—Fresh, selected, 38a40; hen- nery, 43a45; current receipts, 37a38; storage, 35a36. Poultry, alive—Turkeys, 30; fowls, large, 28; Spring chickens, large, 32; medium, 31a32; small, 30a31; Leghorns, 28; roosters, 19a20; keats, young, 60a80; old, 30. Dressed—Turkeys, 40a42; fowls, large, 32a33; small, 28a30; Spring chickens, large, 38a40; medium, 38a40; small, 38; Leghorns, 37; capons, large, 44a45; small, 30a35; ducks, 28a30; keats, young, 80a1.00. Meats, fresh killed—Beef, 22a26; veal, 20a28; lamb, 26a29; fresh hams, 28a29; fresh pork loin, 40; shoulders, 22a24; smoked hams, 26a29; smoked shoulders, 20a22; bacon, 24a26; lard, 15a15'5. Live stock—Calves, 16al7; 14a15. Celery—Supplies light; demand light; market steady. New York, 2-3 crates, 2.00a2.50, mostly 2.00a2.25. Lettuce—Supplies moderate; demand light; market fi Colorado, crates, Iceberg type, zen, mostly 4.50. New York, 2-dozen crates Big. Boston .yDe, dition, 75a1.50. * Onions—Supplies liberal; light; market about steady. 100-pound sacks, yellows, U. S. No. 1, demand New York, low as 3.25. - Michigan, Indiana and Jowa, 100-pound sacks, yellows, U. 8. |wm; No. 1, mostly 4.00. Utah, 100-pound OA sacks,” Valencia type, U. S. No. 1, few | piRicHoe sal 0 Peaches and Potatoes. Peaches—Supplies moderate; demand limited; market steady. Pennsylvania, bushel baskets, Elbertas, U. S. No. 1, large size, best mostly 3.00; fair quality and condition, 2.25a2.50. New York, bushel baskets, Elbertas, U. S. Ne. 1, large size, fair color, 2.40a2.50. Fruits and Vegetables. Apples—Suplies moderate; demand slow, market dull; bushel baskets Vir- ginia, United States No. 1, 2, inches up, Jonathans, mostly 150; Grimes and Smokehouse, 1.25a1.50; various varieties, 1.00a1.25; unclassified, various varieties, 50a1.00. Cabbage—Supplies moderate; demand light, market steady; Virginia, barrel orates, Domestic round type, 2.00a2.25; Jrdinary quality and condition, 1.50a1.7! Cantaloupes—Supplies limited; de- mand slow, market dull; Colorado, Pink Meats, jumbo flats 6s, mostly 1.00; jum- bo flats, 8s and 12s, 1.25; few, 1.35; standard flats, 12s, 1.25; standard flats, 155, 1.00a1.10; miscellaneous melons; supplies moderate; demand lim..cd, mar- ket steady; California, s +d crates, Honey Dews, mostly 2.50; few high as 2.75; Colorado, standard crates, Honey Dews, mostly green, 1.75a2.00. Pears—Supplies moderate; demand light, market stadys Oregon, boxes Bartletts, fancy medium to large_size, j3.26; New York, bushel baskets, Bart- ;etu, No. 1, 2.00a2.25, mostly, 2.00; No. , 1.35. Potatoes — Supplies light: demand moderate, market dull; North Carolina cloth top, stave barrels, Cobblers, United States No. 1, 2.00a2.25, mostly 2.00; East Shore Virginia, cloth top, stave barrels, Cobblers, United States No. 1, 2.15a2.25. Sweet gouwea—s«nplles light; de- mand light, market dull; North Caro- lina, bushel baskets, yellows, No. 1, some medium size, 1.00a1.25. Grapes—Supplies of Western stock liberal; demand light, market slightly weaker; California, lugs flame tokays, 1.60a1.75; lugs malagas, 1.25a1.50; East- ern stock, supplies limited; demand light, market steady; Delaware, 12- quart climax baskets, Concords, 65; 2- quart climax baskets, Concords, 18a20. ngg‘tmun?ub:kres_sr dufipli;'s “Rw?t;k d%mnnd A ull; New York, baskets, No. 1, 1.50a1.75. e COT™" . DECLINES. Renewal of Selling and Hedging Talk Brings Loss. NEW YORK, September 19 (#),—A renewal of the recent selling movement, accompanied by continued talk of hedg- ing and an easy spot basis, caused further declines in th Wash. Gi oo e cotton market Offerings tapered off around the 17%-cent level for Janua however, and_later cations weis rather irregular. market was of yesterday's closing quotations. SUGAR'UNSETTLED. NEW YORK, September 19 (#).—The raw sugar market was unsettled today by the action of the futures market and | & as no sales were reported prices were more or less nominal, although sugars in mearby positions were available at concession, or 3.96 for spots, duty paid. raw sugar futures market was weak and unsettled. After opening de- clines of 1 to 3 points, active positions sold 4 to 5 points below the previous clpse and into new low ground for the ‘ason. ‘There was also a good deal of thed long liquidation, promoted by reas- suring advices from Porto Rico, where the damage by the hurricane is not be- lieved to pe very large. Covering check- ed the decline and siight rallies fol- lowed, with the marke* at midday about 3 to 4 points net lower, The refined sugar market was quiet and unchanged | Merc at 5.40 for fine granulated. PARIS BOURSE. PARIS, September 19 (#).—Prices moved irregularly on the Bourse today. ‘Three per cent rentes, 66 francs 45 centimes; 5 per cent loan, 93 francs 80 centimes. ~Exchange on London, 124 , fair to ordinary quality and con- | CORN-— medium to large size, mostly 3.50, few September . |1.01% to 3p: lambs, { March, 78 to 14; May, 80%. Kansas City Southern Rallway, first carrier to report Augus an increase of $19,122 in railway oper- ating ineome, to $619,993, compared with August, 1927, but a drop of $115,- 241 in railway operating revenues. Op- erating expenses were $103,446 smaller than a year ago. Railway operating in- come f~r 8 months this year was $3,- 632,384, a decline of $211,508 from the same period last year. & August gross revenues of the North- ern Pacific will show an increase of about half a million dollars over August Iasttyelr, says Charles Donnelly, presi- dent. ‘Thomas C. Powell, president of the Chicago & Eastern Iilinois, says the road will have better net railway op- erating income for August than a year ago, despite smaller gross revenue, due to a reduction in operating expenses. General trafc in September is showing a gain over last year. WHEAT SAGS. Early Advances Lost When Market Is Unable to Digest Selling. CHICAGO, September 19 (Special). — The wheat market lost much of.its ad- vance in late trading. Selling by Northwest interests found the market unable to digest the offerings. The close was 1 to 1%; higher, September, 1.097,; December, 1.143; to 12: March, 1.1873 to 1.19; May, 1.213 to 7. Corn eased off with wheat and closed 15 lower to 15 higher, September, December, 7615 to 4 Oats closed %3 to % - higher, Septem- ber, 42; December, 42%; March 43% to 34;: May, 447,. Lard closed unchanged to 1212 lower, ribs unchanged to 5 lower, bellies 20 to 271, lower. CHICAGO, September 19 (#).—Grain table: T er 7 High, Septemb December 1 March . B September December March . May LAR Septem Octoher .. RIBS— entomber . toher . BELT.TH! September ... .20 October .. 16.10 L Jordan Offers Stock. NEW YORK, September 19 (#).— Offering of 74,000 shares of unissued treasury stock of Jordan Motor Car Co. is being made to stockholders of record September 25 at $8 a share. Aol atlarinl Washington Stock Exchange SALES. Washington Gas 6s “B"—$1,000 at 108. ‘Washington Rwy. gt Elec. 45—17,000 at 9275, 2,000 at 92%. Chestnut Farm Dairy pfd.—10 at 107. Potomac Elec. 6% pfd.—5 at 11215, Potomac Electric 51% % pfd.—5 at 10853, 2 at 108%, 1 at 10834, 10 at 1083; wmunm & Elec. p.d.—10 at .10 n Rwy. fuctuations were | Barber & The midafternoon | Ch Quiet, within 2 or 3 points | D. C. Pap Mergenthaler Linotyps—10 at 100%, at 100%. ‘Per{:;ea Drug Store— 2 at 11215, 10 3 AFTER CALL. Mergenthaler Linotype—10 at 1001, at 10012. # Capital Traction 55—$1,000 at 10115, Peoples Drug Store pfd.—25 at 112, Mergenthaler Linotype—10 at 10034. Sanitary Grocery Co. pfd.—1 at 131. Washington Gas 6s “A”—1,000 at 104%. Sanitary Grocery pfd.—10 at 134, 25 at 135, 30 at 135, 20 at 135, 10 at 135, 20 at 135. City & Suburban 5s—5,000 at 96. Ana. & Pot. Railroad 55—1,000 at 97. Washington Gas 6s “A”—10 at 103%. Peoples Drug Store pfd.—10 at 112Y;. Money—Call loans, 5 and 6 per cent. Bid and Asked Prices. BONDS. PUBLIC UTILITY. "Bl Asked. American Tel. Amer. Tel. & T& et iburban 5s. Georgetown Gas 1st 5 Potomac Electric 1st Potomac Electric Con Potomac Electric 63 1053, Wash.. Alex. & ME. Ver. 5. | Alex. & M. V. cfs ington Arcade 6 & Annap. 5% 538, B85535 Se53 333258 FESRR MISCELLANEOUS. Ross. Inc., 6% Wash. Market Cold Storage Wash. n; itle @s.. 1 ‘Wardman Park Hotel 5% mer. Tel. & Telga Cepital Traction Washington Gt Potomac Elec 815 Wash. ‘Wash. a Farmers & Me« Federal-American . Liberty incoln National Metropolitan . 88 TRUST COMPANY. American Security & Trust Co.. 438 Continental Trust.... A " Bank . Union Trust Washington Loan & Trust. SAVINGS BANK. Bank of Bethesda... Commerce & Savings East Washington 0t0; mac ... 15 Security Savings & Commercial. 479 Seventh Street. 310 United States Washington Me Bond Salesmen A national organization wants bond and stock. skiesmen and persons. con. 15005 T Crery JOCRTIE: (o sell Fem ek ality, sell from weekl: list of over 200 high-grade dlv!rflflld I!{ current oflem‘-‘u of of a be Address Di- X 47, Trinity sted, Attractive concessions. versified Securities, P. O. Bo: Station, New York City. Loss Can’t Prevent Windstorms But You Can Insure Against Them For information and rates, call Page Hufty Insurance—All Branches Washington Building Main 8510 Over a Third Century Without a Main 2100 vestment, such as our 6%, FIRST MORTGAGES We call these mortgages especially to the attention of you who feel that you must lose no time to get on the way toward financial inde- pendence. Available in Amounts of $250 and Upward B. F. SAUL CO. 925 15th St. N.W. THERE IS NO SUBSTITUTE FOR SAFETY We Offer—NEW ISSUE—Subject to Prior Sale $400,000 6% First Mortgage Notes Secured by the Park Tower Apartments in the Exclusive Diplomatic District An investment opportunity of unusual interest, recommended as an excellent investment for Institu- tions, Estates, or Individuals. LOCATION: On “the Avenue of the Presidents” (16th Street at the 2400 block); in the very center of the beautiful and fashionable diplo- matic district, directly adjoining the magnificent French embassy. Im- mediately opposite Meridian Park, which is to be one of the most notable landscape works yet under- taken in this country. CHARACTER: Park Tower will be a beautiful building in keeping with its surroundings and contain 80 apartments, from bachelor si ‘to suites of 6 rooms, 2 baths an porch. SECURITY: Based on most con- servative appraisal, the amount of the first mortgage loan is only 53% of the value of the property. Leasing and ‘management in charge of our Property Management Department. In anticipation of erection, demands for apartments in this superb loca- tion are steadily coming in. SUMMARY: Notes are issued in denominations from $100 to $5,000. 3, 4 or 5 year maturitiés. ~Interest semi-annually. Price 100, yielding 6%. Descriptive Folder on Request—Call Write or Telephone for Reservations SHANNON & LUCHS INCORPORATED Mortgage Investment Department Telephone: Main 2345 This Claude-Neon display draws all eyes toward the magnificent new building of the Diplomat Coffee Co., 7909 Georgia Ave. extended. 1435 K Street Northwest 51967, dison El. 11 Boston 4'as 1930. GO, T8 1m0, T 10 en. Mot, Accep. Corp. 65 1937, 1021 : Pt Corp 55 1040, .. 1001 & R. 55 1057 9134 “Trunk of Canada 65 1636 108% i Plerce-Arrow. Por Ric Am Tol Postal Tel & Cb Public Service ¢ RemingtonAr 68 Hem Knd b8 w MALL wonder that the Diplomat Coffee Co. having given to Washington a new and most attractive home for this growing enterprise should have chosen Claude-Neon Lights to spread its message. francs 171; centimes. The dollar was quoted at 25 francs 60%; centimes. American .- Gorcoran TREASURY CERTIFICATES. |Netonal uiion TITLE INSURANCE. (Reported by J. & W. Sellsman & Co.) Mt fer, | Columbla_Title. pielis 18 Hozg ¥ 9 te T g%?».':f- B i i Bord o x nestnu FOREIGN EXCHANGE. R (Quotations furnished by W. B. Hibbs & Cc.) Nominal gold Selling checks value (orpar). ™ todey. FIRE INSURANCE. 9 10 R e S xS R e R R AR XA CBAN- O 5%% Homes, Apartments and Business Properties In District of Columbia and Nearby Maryland-Virginia 3-5-10-Year Terms Prompt Replies Randall H. Hagner & Co. (Incorporated) Decatur 3600 1321 Connecticut Avenue Mortgage Loan Correspondent : New York Life Insurance Co. §| Wiumwon ss5s. Fnpatn S4T Ke wd 17 1004°1004 . Of all known illuminants Neon Light slone will penetrate the densest fog. For this reason it is used on ¢he creat London the- atres, for the Beacons in the English Channel and to mark the London-Parls Alr Route. For Claude-Neon light is unlike any other in the world. The illuminant is Neon, a rare, inert atmospheric gas, elec- trically d and flowing through continuous gless tubing. It may depted to sny color scheme and to any typo- graphic design. Most remarkable of all, a Claude-Neon sign uses only a_fraction of current consumed by an ordinary electric sign of similar dimensions. For information regarding in- stallation and mdintenance, address Eits CLAUDE-NEON LIGHTS 210 Colorado Building Phone Main 8799 ——— oR-ECRen it 8 U. S. GOVERNMENT BONDS. (Reported by J. & W. Seligmun & Co.) Maturity. Price. une 15, 1947.. 98 18-33 94 5 London, pound. Merch. Trans. & St Mergenthaler Linotype. Natl, Mtge. & Inv. pfd® rug Stores b Storage. OF MARYLAND INCORPORATED Washington, D. C. Vertientes Sug 7 Warner Sug 1839.. W t. Dengo. crown (nom.) loty . 1 vt. 338 June ViEXempt from 9 normai ‘iicome tax. . tExembt rom Federal azmal and surtex. income tax both ' O8O CrOW Stockholm, erown.