Evening Star Newspaper, April 10, 1929, Page 15

FINANCIAE. FOREIGN BONDLIST FEATURES TRADING Dollar Issues Prominent in Day’s Turnover—U. S. Group Lower. BY CHARLES F. SPEARE, EBpecial Dispatch to The Star. NEW YORK, April 10.—The strongest séction of the bond market today was that devoted to foreign dollar obliga- tions, The advance in this group was more in the nature ot recovery from the recent decline than a permanent change, although there are some indi- cations that people who have gone out of the stock market and want a high return on their funds are investing in European and South American bonds. The Italian group was especially strong, with advances of }z to 1 point In the Government and municipal issues and public utilities. French descrip- tions were also better, as were Belgians and Germans. . There was some recovery in various South and Central American bonds that have been under pressure and in those of the lower credit countries of | C: Southeastern Europe. While the average of the forelgn bond | Ch! list is 34 above the low of the year made on March 26, the domestic aver- age, due chiefly to the decline in the local traction bénds, is now lower than it has been before this year and about 3 points under the high average of last January. There was not so much pres- sure against the tractions today. ‘The slightly higher rate for call loans affected United States Government is- sues, which were gencrally lower, but it did not prevent furiher advances in some high-grade corporation bonds. Secondary issues were also firm. Con- | F! vertibles were irregular. Anaconda Copper 7s gained about 6 points, with fractional advances in Alleghany Cor- poration 5s, American Interndtional 5¢s and International Cement 5s. In- ternational Telephone 415s, after a rise of about a point, sold at the lowest on this movement and 10 points under their high-record figure. ‘Weak industrial issues were Belding Hemingway 6s, off 2 points; National Dairy Products 5!4 and Cuban Cane Sugar 8s. The last named are selling 3 points under the 7 per cent converti- bles of this company, although both is- sues have equal rights. Consolidation Coal 5s have rallled several points re- cently, but Hudson Coal 5s continue heavy, with bondholders continually making severe criticism of the manner in which this issue has been handled. Washington s.tock E;change N SALES. ‘Wash. R. & E. 45—$1,000 at 86, $500 at 85%. Capital Traction Co.—2 at 98, 5 at 97%. Wash. Gas Lt.—10 at 109, 10 at 1082, 10 at 107, 10 at 107. Wash. Gas Lt.—10 at 97%, 10 at 975, 5 at 971, 30 at 97. Riggs Natl. Bank—S5 at 568. Merch. Bk. & Tr. Co—5 at 150. Dist. Natl. Sec. pfd—5 at 101 Mergenthaler Linotype—1 at 107%. Natl. M. & Inv. pfd—200 at 53;. Peoples Drug Stores pfd.—5 at 1185, AFTER CALL. 515% pfd—10 at 1073. Mergenthaler Linotype—5 at 107%. Cap. Tract. 5s—$500 at 993s. Lanston Monotype—12 at 124. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Telga. 47%.. . & Telga. 4'a Pot. Elec. G &P Capital T City & Suburban 58 Georgetown Gas 1st Potomac Elec. 1st Ss. Potomac Elec. cons. 4. gen. 65 MISCELLANEOUS. Barber & Ross, Inc. 64s.. Cham-Vanderbilt Hotel §i:s. Chestnut_Farms Dairy 6’ Chevy Chase Club C. Paper Mfg. 88 Pot. Joint Stock Ld. BE. §s Wash. Mkt. Cold Storage 5s. Wash. Cons. Title Co. 6s.. STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel Capital Traction Potomac Elec. 814% p Wash. Rwy. & Elec. com Wash. Rwy. & Elec. pfe NATIONAL BANK. National . Capital. Columbia’ . Commércial District Federal-American . of Wasi i TRUST COMPANIES. American Becurity & Trust Co. 457 Continental Trust . 138 Merchants’' Bank. . . National Savings & Union Trust... ‘Washington Loan & Trus BAVINGS BANK. Bank of Bethesda. United States.. Washington Mechanics: Lanston Monotype Merchants’ Trans. & Storage Merchants' . & Stor. Mergenthaler Lino Nat’l Mtge. & InV. Peoples Drug Storage. . Security Ter. Ref. & Wht, Co: 4. Wwash. Cony. ash. RIS SHORT-TERM SECURITIES. (Begorted by J. & W. Selisman & Co.) Bid. % 19 104 1 Allis-Chalmers Alumninum Go, CLk neconda Baitimore i 2233382288882825R8;! s FES Canadian Ca Chesa. & 1 WY, Chieako Rock Tsiand r Co. gttt 1947 388358353 b5 FF Received by Private %NITED STATES. Saine are (n $1.000 ¢ Sales. High. Lov 165 9728 3 9975 56 9911 10 972 350 100 10 100 84 103 21 FOREIGN. Sales. High. Low. Argentine s JuBs. 7 99% Argentine hu 21 99% 19 7 Lib3%s... | Liblstsys Lib ath ¢ls US3%s4T. «UB3I%s... USden1944. US4%ss3. Belgium 7 Belgium 8s. Chinese Gov R: Colombia s Jan’ Con Pow Japan 7s. Czecho 8s 1951 Czecho 8s 19562 Danish Munie Denmark ¢%s.. Denmark 6 Dutch East Finland 6% Finland PENRBDORCRAD aa S o ma - 2845 T0 0wl a8 TV TOR o P Norway 5%s. Norway 6s 194; Orlent Dev 5% Paris-Ly-Med Par.s-Ly-Med 7: Paris Orleans 5% Peru 6s 67 w1 Peru 6s ctfs. Peru 7s. Pirelli 75 '52.. FPoland 6s 40.. Poland 7s (rets) Poland 3s. Rhinelbe Un 7 RhineWst £P RhineWst EP RhineWst EP 7850 Rio de Janeiro 6%s 1 Rio de Jan 85 1946. Rio GrDo Sol 65 '48 Rio Gr Do Sul 8s... Rome 6%s. San Paulo Sa0 Paulo 8% 1936 Sao Paulo 1950 Saxon (PW) % Seine 7s 42 Serbs Cr Slav Sarbs Crot Slo 8 Sweden 63 Swiss 5148 194 Swiss Confed Toho El Pow 7 Tokio 6%s 1961. Utd Kingm 5%s 29, Uruguay 65 1960. Vienna 68 '52. 6l Warsaw 78’ 2 83 83 Yokohama 6s wi... 13 93% 93% MISCELLANEOUS. Abram&Straus 5%s 6 1074 107% Ajax Rubber 8s.... 17 107% 109 Alleghany cv 5s wi. 69 101% 100% AmAgriChem 7%s. Am Chain 6533 Am Int Cor 5% Am NatGas 6 48’43 AnSmit& R 13t Am Sugar Ref 6 'S . PO N L L T T 98% Anaconda v Armour&Co Armour Del s C. 1 Bethlehm Stl pm b8 11 Sklyn Edison 6s. ... Bush Term Bldg B! Certain-Td5 % srets Chile Copper 6. Colon Oil 68 '3 Col Gas&E| deb Donner Bteel Duquerne 4 %: Gen Cable 5%8°¢ Gen Mot Ac Cor §8. Goodrich 6 . Goodyear 58 rets. .. Humble O1] 58.. Humble O & R 6%s. illinois Bell 1at 6s.. Indiana Steel Inland Stl 4% Intl Cement § Kelly-Spring 11 5% 8'48 war No Am Ed 6%a°63. 17 NorOhlo Tr& L 6s. 5 Close 9724 9724 95 993 9629 97 1002 102 30 10230 10710 10630 1072 102% 101% 9 (13 T High. Low. Olose. 99% 98% B8N 4 100% 100 100 101% 102 96 9 93% 100 Sinelair ON Sinclair O1 IBlnelll\‘ Dl Sinclatr Crude Stand O1I N J b8 Stand OIN Y 4 SugarEstOrient Tenn Copper 6s B'4 TennKlecPow 68 47 ‘Transcontl O11 6%s United Drug bs L U 8 Rub 18t rf b U S Rub 7% U 8 Steel s f 6 Utah Pow & Lt §s. Utilities Powr 5 %8, Vertientes Sug 7s Walworth 6s ‘45, West Elec bs. Westn Union s 61. 11 White Bagle O 6%s 3 Willys-Ov 6%833.. 1 Wilson & Co 18t 2 WinRepeatAr7%s. 8 Yngstn S&T s wi. 67 RAILROAD. Atchison gen 48 92 Atch deb 4384 Atlantis C L cl 4s. Boston & Maine Brdway&7th Av 5s. Brooklyn Elec 6%s. Brookiyn Elev 648 Bklyn Mannat 6s... Bklyn Un El 58’50, Can Nat 4%s 30 Can Nat 43%s 54 Can Nat 4348 67 Canad North s » - o o1 B ROR RSN RO AN T~ R Lo L m o ~ S town Chesa Corp Ches & Ocvdl Ches & O gn 4 Ches & O 4%s’9; Chi B&Q gen 48 53. 77 B Chi Gt West 48 69 Chi MEStP 4%s 3 ChiMiISP&Pac5s?5.1 CMSP&Pacadjbs03. Chi& NW gen 4s. Chi NW 4148 2037 o= - Chi Un Sta 4%s. Chi & W Ind cn 4s. Ca&WIi1b%s62 CCC#& StLrf6sA. Clev Term b Clev Term 6%s. Del & Hud 1st rf 4s. o e e -3t Erfecvt 53 67 wi... Fla East C5s 74.... Fonda J&G 4%5'52. Great Nor gen 7 Hav El Ry 6%s61.. Hud & Man a) b Hud & Man ref bs. 111 Cent 4s 52. o - S Ben Int & G Nor 1st Int&GtNor adj 6s Kan City Ft S 4s. Kansas City 86 Lehign Valen ds... Lehigh Val 65 2003, Louis&Nash uni 4s. Louis & Nash 7. Man Ry 2d 4= 2013.. Market St 7s 40 . MIEl Ry & L5s61 Minn & StL ref 4s.. M 8t P&SSM cn ¢ MStP&SSM5s3sgtd MStP & SSMb5is, MK&Toprin Mo Pacific gen Mo Pac 53 A 65. Mo Pac 5s F 7 Mo Pacific 5 Nassau EI ¢s 51 2o zZ YChI&StL b%sA. NYChi&StL 6%w B, c A z " -~ O I B B e e O R OV R VD B Z2ZZZZ22ZZ NY Sus&Wn gen 5s NYW&B4Ks. Norfolk & W cn & Nor Pac 3s 2047 Northern Pacr Qre Short L rt Ore Wash 1st & Pennsy! con 4%, Pennsyl gen 48, Penna R R ¢%8 6! Pennsy! gen bs. Pennsyl 58 64, Pennayl 6%s. Pennsyl gold 8. P 3 PCC&StL 68 B 75 Port RL&P T4s 46. & e 2352 - oo & RIArk& L 4% St L IM&S 45 29, StL IM&S gn b St L IM&S R&G StL&SFpI4sA.. StL&SFrehs s, StL&SF prinbs. St L8 W con 48 33, StL & Sown 68 ‘63, St P Un Dep 68. San A & Aro P 4s SeabAL ad) bs 1949 255 Seab A L con 6 . 72 SBAlIFlaés3sA. 10 Sou Pac ¢s 29, 2 Union Pac! Union Pac 1st rf 4s. Union Pac 4%8 Virginia Ry 1st Western Pacific 58. 15 AREPRO Railroads Buy Equipment. NEW YORK, April 10 (#) —Buying of equipment by railroads continues on & large scale. - Baltimore & Ohio has inquired for 3,000 cars, making 7,500 freight < cars under domestic 981 cars in its own .shops. Do o BONDS e s [RADING INGREASE ATD. G. MARKET Cooler Weather Brings Out Gain in Buying—Few Price Changes. was rted by local prmon mar- weather and a wu:: mx‘\lflf‘;m"m in_demand the re by trade. ‘The scarcity of stock which developed on the poultry market over the week end was at an end today with the arrival of fresh supplies, and prices dropped somewhat under those quoted the first of the week. Eggs were on hand in abundant sup- plies and ‘large quantities of them are expected to be placed in cold storage now that moderate temperatures pre- vall here, described as suitable to the rocess, and the price is nearing the w mark expected this season. Few quotations were changed today on butter, meats and pork products, although the former commodity was selling at slightly lower figures. Today’s Wholesale Prices. Butter—One-pound prints, 45a46; tub, 4412045%4; store packed, 28a29. Eggs—Hennery, 29a30; fresh selected, 28a29; current receipts, 26. Poultry, alive—Turxeys, 35; Winter chickens, 40a42; Spring chickens, 50a 52; fowls, 33a34; Leghorns, 32a33, roosters, 32; ducks, 22; geese, 20; keats, young, 60a70; old, 35a40. Dressed— ‘Turkeys, 40a45; Winter chickens, 40a45; Spring chickens, 55a60; fowls, 35a37; Leghorns, capons, large, 50a52 small, 45a47; ducks, 33a35; geese, 20a 25; keats, 80a1.00. Meats, fresh killed—Beef, 20a23; lamb, 30a33; veal, 22a27; pork loins, 30; fresh hams, 26; fresh shoulders, 20; smoked hams, 28; smoked shoulders, 17; bacon, 22; lard, in bulk, 133a14; Plck- ages, 1412a15; compound lard, 1212a13. Livestock—Calves, choice, 15; medium, 10a12; lambs, Spring, 18a20. Fruit and Vegetable Review. ‘The daily market report on fruits and vegetables (compiled by the Mar- ket News Service Bureau of Agricul- tural Economics) says (sales to jobbers except where otherwise noted): Apples—Supplies limited; demand light, market steady; barrels, Virginia U. 8. No. 1, 2% inches up, Delicious, 7.00; U. 8. No. 1, 2} inches up, Wine- saps, 5.50a6. . 8. No. 1, 2 inches up, Winesa) 4.50a5.00; unclassified Winesaps, 2'2 inches up, few sales, 4.00; boxes, Washington, medium to large size, extra fancy Winesaps, 2.75a 3.00; bushel baskets, Virginia U. 8. No. 1, 2% inches up, Staymans, fine quality and condition, wrap 2.50; U. 8. No. 1, Winesaps, 2.00a2.25. Asparagus—Supplies moderate; de. mand moderate, market slightly weaker; South Carolina, dozen, bunch, crates, n, long, very large size, 5.00a5.50; large size, 4.50a5.00; medium size, 3.50a 4. Cabbage—Supplies moderate; demand light, market about steady; South Carolina, 1'3-bushel hampers, inted type, fair quality, some 8 1.00a1.25; barrel crates, poinf ordinary ‘_Sumy. small size, 1. Celery—Supplies moderate; demand light, market steady; Florida, 10-inch crates, individually washed and pre- cooled, 4-8 dozen, 2.5082.75. Lettuce — Supplies ligh moderate, market stronger; crates, Iceberg type, 5-dozen, 5.00a5.25; mostly 5.00. Onions—Supplies light; demand light, market steady; old stock; Michigan, 50-pound sacks, yellows, U. 8. No. 1, 1.75; 100-pound sacks, yellows, fair condition, badly sprouted, 1.5022.00; new stock, Texas, standard crates, yellow Bermudas, mixed, No. 1 and No. 2, mostly 2.75. Potatoes—Supplies of old stock mod- erate; demand weaker; New York, 150-pound sacks, round whites, U. S. No. 1, 1.90a2. new stock, supplies light: light, market steady; Florids head barrels, Spaulding Rose, U. 8. No. 1, 6.50. Spinach—Supplies light; demand light, market steady; Texas, bushel baskets, Savoy type, 75a85, few higher. Strawberries—Supplies very light; de- mand light, market about steady; Flor- ida, pony refrigerators, various varie- ties, generally fair condition, mostly, 35a45. Tomatoes—Supplies_ light; demand light, market firm; Florida, 6s, ripes and turning, wrapped, No. 1, fancy count, 5.50a6.00; choice count, 4.00a 5.00; No. 2, fancy count, 4.0024.50; choice count, 3.0083.50. String beans—Supplies light; de- mand light, market dull; Florida, 7s- bushel hampers green best stringless, 3.50a4.00; fair quality and condition, 2.50a3.00. Peppers—Supplies light; light, market dull, few sales; A slight picku whole&’fim ogi chep ket today, with demand Florida, First Mortgage and Construction Loan | Applications Invited at 52% Glover & Flather 1508 H St. N.W. Department Under the supervision of capable men of wide ex- perience, ready to advise you in the arrangement of . your . affairs so your. family will be protected when you are no longer here to look out for_their interest. time 13 yours. Come in for a consultation. LIBERTY .NATIONAL BANK light, market slightly l ?ewer crates, choice, 2.00a2.50; few g AL b s light, mrt—z?um; mfin. pepper crates, choice, 2.00. Peas—Supplles moderate; demand light, market about steady. South Caro- lina, bushel Laxtons, falr quality, some short 2.0022.50. Beets—Supplies light; demand light, market slightly weaker. lettyce crates, bunched, 2.50 baskets, bunched, 1.75. Carrots—Supplies light; demand light, t 3 bushei to quote. Ame ‘Cucumbers—Si light; demand slow, market m % -bushel s, fancy, 3.00; hoidovers, falr & liee: moderate; demand upp lerate; deman light, market slightly weaker. Florida, pepper crates, white, wrapped, 2.50; 74-bushel hampers, 1.75a2.00. O upplies moderate; demand moderate, market steady. Florida, boxes, round varieties, No, 1, ‘medium to large size, 3.50a3.75; No. 2, medium to large Valencias, to large size, No. 1, 4. .25, Grapefruit—Supplies light; light, market steady. Florida, boxes, No. 1, medium size, Brights, 3.50a3.75; Rus- sets, 3.00; No. 2, Brights, 2.50a2.75. BALTIMORE CAR FARE CASE APPEAL PLANNED Special Dispatch to The Btare S BALTIMORE, April 10.—The Balti- more car fare case will be submitted to the United States Supreme Court today following the public Com- mission’s receipt of permission from the Maryland Court of Appeals to appeal from its decision. The appeal papers already have been drawn up by People’s Counsel Tingley and Raymond S. Willlams, special counsel, and will be presented to the court today in Washington. The local fare rate will come: before the Supreme Court as & result of two appeals—one flled by the United Rail- ways and the other by the Public Serv- jce Commission. The United will con- tend that the present fare of 8% cents is so inadequate that it amounts to illegal confiscation of its property and asking for a straight 10-cent fare. The Public Service Commission will contend that the method of computing depreci- ation, as o by the Maryland Court of Appeals, is improper. COAL OUTPUT DECLINES: | NEW YORK, April 10 (®)—The de- | cline in the weekly rate of bituminous coal production continued during the week ended April 6, When it reached a total of about 7,500,000 net tons, as esti- mated by the National Coal Association from preliminary car loading reports. The United States Bureau of Mines re- ported the output for the preceding week as 7,979.000 net tons and for the week con Firm in Receivership. | BALTIMORE, April 10 (Special).— was incorporated about a year ago under the State laws of Maryland, was placed in the hands of a receiver thi etition of Joel F. Armistead, Let us have your applications for LOANS ON REAL ESTATE Immediate Action Courteous Treatment Our record of 35 years speaks for itself. Percy H. Russell Co. 1731 K St. N.W. The outstanding on is soundest business trust estates, colleges, tutions. HENRY L. DOHERTY & CO. Southern Washington, D. C. bilities of Cities Service Securities, Name. ending March 23, as 8,409,000 net tons. | The American Underwriters, Inc.. which | position the securities of the Cities denced by the fact that mil- lions of dollars have been invested in them by the interests in the country, including banks, insurance companies, versities, and other insti- e Send copy of booklet describing the investment possi- APRIL 10, 1929, ° AMERICAN FOUNDERS Money to Loan CORPORATION GROWS| (¥t hriras s Special Dispatch to; The Star. L i JU-LLI‘)-IRS—QPBCULA‘I'OH Sirust || 411 95 2850 P i N | MPTE AR RIT Z Tth Main Contact with the Center of Financial New York Oor direct communication fa- office in the center of financial New York provide a ready means for the rapid transaction of New York banking business, THE EQUITABLE companies being organized tion with other com . Substantial m""\:nlu in & company IF You use printed ad- vertising (and who does not?),and it doesn’s quite square up with your idess, why doa't you say to him, or her (whoever handles yous printing details) & Co. of New York for the joint or- ization of & company to specialize bonds and ties of Southern Eu- rope. It is further planned to invest in the junior of a company which specialize in South Ameri- can financing. Earnings of American Founders for the first quarter of this year were re- rmww‘w‘wuumm favorable than for the same last year. Resources of the company were reported as exceeding $56,000,000. BYRON § ADAMS 512 Eleventh Street Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutual Benefit Lifo Ins. Ce. 1520 K Street Main 475 917 Fifteenth Sereet, N. W. WASHINGTON, D. C. A Complete Investment Service ADVERTISENENTS B ot RECEIVED HERE Bronaugh’s Pharmacy—3401 14th St. N.W. Is a Star Branch Office Just leave the cop} for your Star Classified Adver- tisements at the Star Branch Office in your neighborhood. No matter where you live, in town or the nearby suburbs, there’s one handy and your copy will be inserted promptly in the first available issue. GreLeT & Co. B8ANKERS INVESTMENT BUILDING ‘WASHINGTON, D.C. Telephone, Main 2460 Over Third of a Century’s Ezperience g il il P No fees are charged for Branch Office service; only regular rates. THE ' Managing apartment ABOVE SIGN house property, for ex- 18 ample, takes experience DISPLAYED and special facili BY AUTHORIZED STAR BRANCH OFFICES oo The Star prints such an over- whelmingly greater volume of Classified Advertising every day than any other Washing- ton paper that there can be no question as to which will give you the best results, We are equipped for it —both from long and suc- sful service—and with organization that is carefully trained. B. F. SAUL CO Main 2160 925 15th St. “Around the Corner” is a Star Branch Office “I would not care to speculate”— So a wise friend recommended Cities Service Preferred and an expert approved it . . . DITORS of the financial columns of newspapers and magazines unhesitatingly recommend Cities Service securities as well protected investments that will help you toward financial independence. of - Your wise friends, your financial expert, your banker will attest the wisdom of an investment in securities of the Cities Service organization. Successful investors know that this nation-wide public utility and petroleum organization—one of the ten largest industrial enterprises in America—has for years been reporting increasingly large earnings. They know, in fact, that the earnings of few organizations have been as large and consistent. Cities Service Company has paid dividends of more than one hundred million dollars in cash or securities to holders of its common stock alone. HENRY L. DOHERTY & COMPANY Fiscal Agents for Cities Service Company Southern Building ‘Washington, D. C. Branch Offices inPrincipal Cities. unie i 1 1 ] ] i i I 1 i