Evening Star Newspaper, October 2, 1928, Page 15

FINANCIAL' YFREE OF DEBT, PARAGUAY EXPECTS TO.FLOAT LOAN BUENOS: AIRES, October 2 (). Accord between Paraguay and Argen- tina over cancellation of a war debt on whieh nothing has been paid ‘in 65 years and which now amounts, with interest, to around $4,000,000, has awakened hopes in Paraguay of obtain- ing loans in New York or London for the development of natural resources. ‘The 10,000,000,000-peso loan was a considerable burden upon. the Paraguay- ans, as the population of slightly more than 1,00 r{m’ was financially unable to pay it. Prévieusly, Paraguay found dif- ficulty in obtaining a loan because Ar- geg:m& had a prior claim for the war ety V. S. Expert in Porto Rico. SAN JUAN, Porto Rico, October 2 (#)—Dr. Victor S. Clark, American economist, who is to head an economie survey of Porto Rico to be made by the Bréokings Institution at Washington, arrived yesterday. e GERMAN BONDS AND STOCKS. Special Dispatch to The Star. NEW YORK, October 2— Ger Govt Red Toan with o r Govt Red Loa ctfs att per a. M Ger Govt R dpaw ctfs per (Quoted in_dell Hamburg uote Asked. an Wi 42.00 35.00 Doy d-.nuund mnku =5 pre-war... 4300 s 1919, 5 Berlin 4s Ramburs 35 318 48 brecya Hamburg Amerg‘r mlh ugrmtn D!( e 158288 - st 22838233338 23332333323 2 ra) (u. §fl onto Gellicy Berliner Hanal Dresdner _Bank. e Seana SEREES s Mo % Vi W (')fl!ll Ci ll‘\ Ronon X 8% G wieei | s 2 a atma 2SS o = Umndltmnuy 7 GUARANTEED TRADERS IN BONDS SEEK SPECIALTIES High Money Rate Restricts Activity in Market—Dodge 6s Are Feature. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, October 2.—The bond market features today were among the specialties, as the general run of in- vestment bonds was affected by the high rates for money. These rates have once more checked demand on the part of institutions, and banks and caused a slight setback in prices, The turn-over in Dodge 65 was much lmlllfl' than that of yesterday. Open- ing fractionally higher, sales were re- ported at 104, equaling the former suffielent to bring about a reaction of over a point. The earliest at which the bonds may be redeemed is next May, ler stock, the conversion bagis is near- iy double the present price of Chrysler, which makes it of no J:rcsnm value to the holder of the bon Anaconda Ouprcr 7s were the weak- est of the industrial convertible issues, declining nearly 2 points. Andes Cop- per 7s opened llllhll{ lower and then moved up fractionally, while Public Service of New Jersey 4lis started higher and then declined. Among the inactive industrials a decline of n lrly 3 points in National Radiator 6 2 points in Cuba Cane Sugar rise of 3!2 points. in R. Hoe & Co. 8,8 and more activity in American Writing Paper 6s attracted attention. There were slight declines in several of the first mortgage rails and lower prices for the Liberty 4l4s, the first 44 dropping below 101 and the 3%s touching a new low for the year. Local traction bonds were influenced by the discussion of higher fares, which will become active again after October Your Security Is Always in Sight The owneroccupied homes which - secure your 6% FKirst Mortgage Notes are right at your elbow in nearby Maryland. If desired vou can see the security for your money every day in the year. These modern p means inerease in value, for illustrated constant Write boaklet. Continental Trust Coll . 14th and H Streets = - Capital, $1,000,000.00 Checking Accounts + Savings Accounts Acceptance Credits Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Checques Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets WADE H. COOPER, President Capital, $1,000,000.00 Construction Loans in Any Amount ;¥ 'OR the erection of new build. ings—large or small—you may obtain here at reasonable rates either a shortterm con. struction loan, or a loan em. bracing mnnrmnnu and perma- nent ‘inancing in one transac- tion. Without obligation on your part, we shall be pleased to send you further information. In request- ing it, please give the amount of the loan desired, together with 15. Third Avenue issues made larger gu 8 than the Interboroughs. Cbicago llway Bs were also strong. .There were fractional declines from the recent high levels reached by French and Bel- glan issues, as well as in some of the Japanese bonds, and a sagging ten- dency in a number of the South Amer- ican issues. German 7s sold above 107. 'I'he feature of today's financing was the large proportion of it devoted to industrial stock issues, Washington Stook Exchange SALES. Capital Traction 55—8$500 at 10134 ,Washington Gas 6s “B"—$500 at ’07 ;1 000 at 108. Chestnut F‘lrms Dairy pfd—10 at 107, Potomac Electric 515 % pfd.—10 at 108%, 35 at 108%,. Washington Gas Light—2 at 90% Wuhlngwn Rwy. & Elec. pfd—20 at uluton Monotype—5 at 11315, enthdlrmgpo-—l at 101, - !In itary Girocery fd.—10 at 13015, 10 at 1307, T0 at 130':, 10 at ‘13015, -10 at 131, 10 at 131%. AFTER CALL. Mergenthaler Linotype—L.at 101. Oapital Traction-55—8500-at 10135 :8527‘00 Gas 65 “A"—$1, 000 at Chestnut Fll'ml Dlla’ v{tAU at 107, Washington B"—$2,000 1077, CMO at 103 Sanitary Grocery Co. pfd.—60 at 138, m‘n m, 20 at 134, 70 a% 134, 30 8t at Maney—-Gdl lgans, 5-and. 6. per cent, * " Bid' and Asked Prices, BONDS. PUBLIC UTILITY, ';l 1 s ev.{. & fi},z"'l | 34 Sfl.&f Iucl oh lhn *5i ‘8» stybe e’ SR Bark ool b1l record, with grom—takln( at that level |, While they are convertible into Chrys- | g, annlton Gas Light 5s, '60, $500 IC H Received by Private Wire Low. 59 (013 10081 1012 9% 1015 1012 1018 1 9820 9820 0820 11039 1039 1039 5 10628 105 28 106 28 10 11026 11026 11026 FOREIGN, Sales. High. Low. Close. Ju 69, 28 100% 100% 100% Qet59 99% 99N 99% 1004 99 99% Bhle BBY 95%5 96 954 96 102"z 10243 9712 9% 100 100 105% 106 108% 108% 106% 106% 15 115 110 110 104% 105 99% 9O% 9610 96% 96 964 100 100 108% 1084 101% 102 & 100 100% 104 104% 100 100 101% 101% ol Dl 98% 99 BS%, 8% 06% 96 1084 103% 108% 108% 100% 109% 1 1% 110% 110% 1034 103% 1085 103% 9l 9l 9 98 1004 100% 1054 105% 1083 1085 114% 114% 96 96 106% 107 9% 99% 9T 9Ths 99%. 993 101 101% 91 o7 96% 96% 92 92% 101% 101% 100 100 9% 99% By 244 244 I 92 92 100% 100% 104% 104% Close. Argentin Argentin Argentin Argentine 6s B. Australia 4%s Australia 58 1956 Australia 5s 1957 Austria 7 Bank ofCl Belgium 6s Belgium 6% Belglum 7s 1 Belgium s 1956‘.. 20 Canada bs 1952 Canada 53 1929 Chile 78 1943, , Colombia 68 Ja Con Pow Japan ‘Copenhagen ¢% '63 24 Copenhagen 6 1 111% 110% 108% 103% Dutch East 1 6s 4' Dutch East I 68 6! Finland 5%s, binland s £ 6; Sanuewan SR - - SeSSanrelte » Norway b%s. Norway 6s 19: Norway 6s 1944 Norway 6%s 1953, Orient Dev deb 100% 1005 1034 103% 4 1034 1034 1025 1024 9% 9 9% 99% 103% 104 90 904 4 1034 108% 106% 105% Bdl 84 881 88% V0% 90% 104 104 118% 118% 95 95K % 107% 10Tk 1064 107 9% 924 924 115k 1164 1164 1068 106% 994 o s Queensland Queensland 7 Rlo de Janeiro - ases P T T e B - e b 1L L= oy Tokio 6% s 1961 Utd Kingm 638 20, UtdKingdm 644s 37 Utd8team Copen 68 Uruguay Yokoham porers) cxE-Rume Y 4 108% 108% wioeo 6 95% 95% 95% MllclLLANlOUI. 1 1044 104% 100 - 100 101% 101% 102% mm lN% lOJV- 105 - 106 107% 107% 99% 904 87H 83 Anaconda 105 106 Anacon 186% 1364 And”(.oppor'l 4 5ty 1584 164% Armour&Co4%e39 15 93w 93 93 STOCKS. PUBLIC UTILITY. : i ey b B S NATIONAL IAN‘ Nllllflnbll Capital .... Wai of TRUST COMPANY, Amorioan Sequrity & Trust O E?mlmm\ ‘rr st Trust fi}’:‘amnnon Loan &' T SAVINGS BANK. Bank of Bethesda. . Commerce & Saving ast Washington. . 5 Potomac 315 Security smmcs & Cnmmercml 4.5 Seventh _Stre Chited” states Washington Mechan FIRE INSURANCE. TITLE INSURANCE. le s Title. el Fotate mc Wash “cons. Fhitebid MISCELLANEOUS Rosy Inc. com..... Chestnut - Commeycial Nat'l Co. pfd. arber hevy Ol oy Federal Storage nlg Pederal-American n com rederal-Americal d. anston Mopoty) {5 e M"““"x’iz‘.‘ Tran. & lmuu o aler Linotype i o. & Inv. DI ug_ Stores prd.. Storgge. TREASURY CERTIFICATES. (Regorted by J. & W. Behxén;n & Co.) a brief description and approxi- mate valuation -of. the . property, REALESTATE Hummufimmw CorPORATION Capital Resources § 3,100,000 26 JACKSON PLACE Offer. % Dec. . gez0ss 99223 Machine Tolls in Demand. NEW YORK, October 3 (#).—Inquiry for machine tools continues healthy, ac- cording to American Machinist. In most cases the first nine months’ busi- ness has exceeded that of the -entire year of 1927. | Appeals to the Todis wlv.h a vote convince him that he is the noble man after all—Boston Transcript, * | Certain-Td5 % srets Armour Del 634s.. 44 03% 92% 92% Associated Oll 6s.. 4 102% 102% 102% Atlantic Refin §s... 2 101% 101% 101% Barnsdall 68 1940., 62 111% 1104 111% Bell Tel Pa 68 B... 13 106% 106% 1064 Bell Tol Pa5sC... 5 108% 108% 108% 3 100% 100%-100% 10 102% 102% 102% 24 104% 104% 104% 6 106 104% 104% 2310 310 310 4102 101% 101% 924 93% 95% 96w 100% 100% 6% 1644 10644 105% 6815 684 70 70 108% 108% 99% 100 70 70 102 102 108% 108% 1024 102% 98 98 88 88 114% 114% 102% 102% 107 .107% 91% Bush Term Bldg b8 Denver Gas Dery (D G) 1 Detroit Edison LZast Cuba Sug THe 20 89% Fisk Rubber 8s 5 Gen Mot Ac Cor @ Goodrich 6%s. Goodyear 6s rta. Hoe & Co 6% 94 913 | & 99% 100 101 101 4 1044 104% PBY 99 961 96% 97% 98 108 08 1017 102 Wik 95% us us 104% 104% 109 109 1024 10214 10443 10425 120% 1204 874 8714 108 103% 103% 103% 106 105 100 100 108% '1083% 100% 100% 1065 106% 108% 104 114% 1147% 100% 100% 106 106% 110% 110% 991 993 101% 101% 101% 101% 101% 101% 102% 102% lgl't 108% Lot Paper 6s 47 Inter Paper 6 int Tel&Teleg J Kayser & Co 6% Kan City P & L bi Kelly-8pring 10 102% 57 96k 5 113 1 104% 1109 1 1024 4 104% Liggett & Myers7s 1 120% Lorillard 5s. o 7 83 Loulsv G & B 3 108% 6 108% 5 105% 2 100 1 1034 10 100% 10 106% 3 104% 4 1164 N Y Tel 65 49 North Am Edis b8, Nor Ohfo Tr & L 68 Nor States Pow 6s. Pacific Gas & E) PacT&T 1a PacT&T Paramount 6s 19 Pathe Exgl Poeople's Gas PhilaCobs 67w Philips Petro Plerce-Arro Plercé Of1 deb 8s Por Ric Am Tob Postal Tel & C b Public Service ¢ (L] 104% 104% 98Y 98 92k 934 106 108 1044 2044 97 97 9% 948 A 147 147 94 94 [T 9915 995, 1015 102 9Th 97% 03% 94 8 93% 93 . 9% Suelle Ol 5% [ BONDS o mao] Direct % The Star Ofice Sales. High, Low. Close. Southwest Bell 10 Stand O N J 107 100% Wiison & Co WinRepeatAr 74 Yngstn S&T 6s wi. 13 RAILROAD. Ann Arbor, 48, ..... AL&SE cyt'4s 05, Atchison gen 4s. Atl & Dan 2d 48 48. Atlantio C L 18t 48, Atlan C L 4%s 64 100% 6% 6% LIRS 98 67 5 @ o - wlmmmaaizSimt-San Buff R & Pitt 4% Canada South 6§ PmComents Chi & Alton 3s. CB&Q4%s 1T Chi&B Ul gn 65 5 CM&SUP ret 4 %585 25 ChiMIIBP&Pacts?d 71 CMSP&Pacad) 6503124 Ch1& NW 7s, 2 Chl Rys 6s... Chi K 1&Prf 4 Chi Union Sta 6% Chi & W Ind cn 48, C& W 1638 62 CCC&StLrtésA. Clev Term §s, Clev Term Cuba Nor 83 s ots. Del & Hud 1st rf ¢s Del & Hud 6%8... Den & Rio G ¢n ¢, D Rio G West b &rwoen 4s., Ertecvt 5867 wi,, Erle & Jersey 6s... Fla Bast C8s 74, Gr Trunk stab 6 Gt Nor 4345 76 ... Grt Northn 4%s E. Great North s, Great North 6%s, , Great Nor gen 7 Hud & Man aj b Hud & Man ret 111 Cent ref 4s, 111 Cent Cht ¢ %8s, 111-C-C- StL&NO bs Int Rapid Tran 68, Int Rap Tr 6» stpd. ‘Int Rapid Tran ln!thl\nrM"l 51 Int Ry CA 6%sret Ran City F't l u. .- = Lehigh Val on ¢a, .- Louis&Nash uni 43 Louls & Nash 7 Man Ry-1pt 90, Market 8t 78 40 Minn & StL ref Ml!l’llll‘ MEK&TprinbsA, Mo Pactfio gen ¢s., Mo Pac 68 A 6 Mo Pacbs ¥ 77, Mob&0 4%8 77 cta. 1 Mont Trmref 6841 & Nawsau E1 New Or Teor ey FCRNE TN aEs 8E~SrOra mak - Sees Nor Pac 3s 2047 Northern Pacifio Northern Paor 1 Ore 8hort L rts ¢ Pennsyl oon 4% Pennsyl PCC&S!LIIA.. Port RL & P §s 42, R1Ark & L 4%s. Bt L IM&S 45 29, Stl 1 M&S gn b StL&SF p) 48 StL &S Fr 4%s Bt L &S F or In 51 board A L 4s. board AL 4s s SeabAL ad) 68 1949 Seab A L con 8 8B All Fla Gl’ 8ou Pac olt ¢ Sou Pacifio ref Sou Ry 68 56,.,. Bou Ry 6%s. Term Asso 8 L 4s. TexArk i'S b%s 50. Tex & Paoc 5w 1 1971 Third Averef 4s 60 Third Avead) bs, .. 62 Tol Tr L&P b%s 80 Union Pac 1st 4s... Union Pac 1st rf 48 Union Pacific Un Pao ¢%s 67 Virginia Ry 18t 6 Va Ry & P b8, w West Md 6%s 77... West Shore 4s 2361 Wheel & L Ecn 4s, . Wis Cen gn 48 49 $425,000 FOR SEAT, Btock Exchange Membership Changes Hands at Record Price. NEW YORK, October 2 (#).~A seat on the New York Stdéck Exchange was sold today at a record price of $425,000, an increase of $10,000 over the last sale not quite a month ago. The name of the purchaser wil} be announced later. James Wilcox Drake of Los Angeles made the previous purchase, obtaining a seat September 14 for $415,000. Three days prior to thaf Andrian Ettenger bought a seat for $410,000, bt D. ¢, TUESDAY, V'OCTOBER' . ROLLING MILL ACTIVE. BALTIMORE, October 2 (Special).— The Eastern Rolling Mill Co, has ship- ped considerably more than 3,000 tons of its products to European consumers thus far this year .na domestic . sales are oonsiderably ahead of last year, it s reported. The plant continues to operate on a 100 per cent schedule. Its product is sold about five weeks ahead, and new business is being booked at a satisfac- tory rate, indicating that full operations will be maintained the remainder of the year. FIRM SEEKS CHARTER. BALTIMORE, October 2 (Special).— The National Bancorporation of Ameri- ca has filed application for a charter under the State laws of Maryland. Un- der the charter, the company is au- thorized to generally deal in bank stock and securities and the capital stock is 20,000 shares preferred stock, par value $50; 100.000 shares Class A investors stock, no par value, and 100,000 shares class B founders stock, no par value, R. Dorsey Watkins, Huntington Cairns and J’:hn W. Avirett, 2d, are the Incorporar TS, New Car-Loading Mark. NEW YORK, October 2 (fl).—'l'ha Missouri Pacific Railroad today re) ed an average of 6,339 dally car Old- ings for September, a new high rec- ord. Wheat, corn, cotton, lumber, coal, fruits and vegetables moved in greater volumes. 1928, ' uvuu‘oox.. October 2 (F). ship- ment of apples, pears, canned peaches, canned tomatoes and prunes from Chile has reached the British market for a try-out sale. Local dealers reported the fruit superior in flavor and as attracting nmmgry demand, although the large sige of the pears made them some- v unpopular. FINANCIAL. senger traffic- on the .Southern Pacific is ‘continying’ to suffer from sutomo- bile, “airplane ‘anid’ Pandma Canal com- petition, " said Paul Shfoup, exetutive vice president. _ Outlook for freight traffic on the Pacific Coast, he said,| was fair for the rest of. the year. W. B. HiBBs & COMPANY take pleasun‘ in anfiouncing the admission of KARL W. CORBY AS A GENERAL RARTNER . THILMAN HENDRICK AS A SPECIAL.x PAWN!R October 1, 1928 ' " NEED ELBOW . ROOM? AN up~to-l|u steel filing “7 system will | solve your problem. The W.’D. Campbell “ Company has files in any fin- ish.you want. ‘Al OFFICE FURNITURE —at d-‘- 2. b. Cam :wll c; s uaranteed in qyal Chatee. tn _stvle- and - prics H practically unlimited. THE W. D. CAMPBELL COMPANY Two entrances 1018 15th St. N.W.. 1506 L St. N.W. Franklin 5660 PROMPT TITLE SERVICE HE installation of the title plant of the Capitol Title and Guarantee Company in the new Chandler Building now enables real estate operators, banks and building associations and all owners of property to secure title service with prompt- ness and absolute accuracy. TITLE INSURANCE POLICIES ISSUED Backed by the Largest Title Guarantee Fund in Amenca FIVE BRANCHES OF SERVICE TITLE CERTIFICATES CONTINUATION OF TITLES PROPERTY OWNERSHIP REPORTS INDEX ‘SERVICE JUDGMENT. REPORTS CAPITOL TITLE AND GUARANTEE COMPANY Main Floor, Chandler Bldg., 1425-29 I Street N W Waahmgton Representatwe of NEW YORK TITLE AND MORTGAGE COMPANY | With Camtal Funds Over $45,000,000 Built to Better Serve Our Cliefits NEW HOME of Ralph W. Lee & Company 1508 L Street N.W. Fire Automobile Workmen’s Compensation T "Er .z...- = smu i i HIS is the one building in Washington de- signed and built for the sole purpose of giv- ing more complete Insurance Service to our present as well as future clients. You are in- vited to visit our new home and see the facilities we haye for serving you. 1508 L Street N.W. RALPH W. LEE Insurance Exclusively Casualty Fidelity ‘and Surety Bonds N ENGINEERING department is a part of our service. You are at liberty to avail your- self of this feature without obligation. It may prove of invaluablé assistance to you in reducing the cost of your insurance. Claims ‘Adjusted and Paid at Our Office ‘Ralph W__ Lee & Company Embl«':lnd 1898 Teleph» one Main 2049 LEWIS AT 'PAYNE ™