Evening Star Newspaper, April 15, 1929, Page 15

‘ siAfi, : wgsfinrqiofi, D, ¢, MONDAY, APRIL 15 stocx mcuavca] |CT(IOK PRICEINDEX [Foc=sdebeims sma i Mt Lowse SHOWS RECESSION % & ooty mediete), larive): Thomas J. Fisher & Company, Inc. Value of Industrial Securities Drops- With Brokers’ - " Loans. ; Standard Collateral Trusteed Comithon Stock Shares OWNER- leading riean Corporations. t will be to sour interest to investigate. Standard Collateral Shares Corp. Franklin 3783, Woodward Blds. At Low Interest Rates " Tyler & Rutherford | mevresenting Mutual Benent Lite tns. Co. i 1520 K Street Main 478 UNITED STATES. (Salae are (n $1.000,0 Bales. 10 98 "8 “Lib 4th 4%e 1 % i u Kl“‘l. 50 9726 20 9726 | 94 US3%ed7. 25 983 9728 983 Pressd Steel Car &i 9514, 83 96 101 efl—}x} lg l:ll: I’Ilbhlll"n:r l:: i 70 104 26 10 104 2 9%, 9ane o8 98% 98% 98! 00% 8 % 91 100% 100 14 924 9% 9% 5 106 106 106 10.100% 100% 100% 93% 93% 95. . 95 LIST HOLDS FIRM - Lib3%s.... Lib1st4}4s — cent eity. Wi needs. " chl" e Baame . sour CAFRITZ 1016 14th 8¢, A Mal iter of .. 1o urns., “Money to Loan lecured by first deed Ao PR et ot drget Joseph I. Weller &2 ¥ Market Fails to Develop Price Tendency in Dull Session. v, 9080 % us US4%s62. 387 10826 1082 10824 FOREIGN. . Y o e A tine 63 Ju 6Y. iy 1 != 9% Low. Close. —tote Special Dispatch to The Star, NEW HAVEN, Conn.,- April: 15— 102% 102% | Price movements on the New York 96% 96% | gioor Exchange last week were neither % 14’)?% le% sensational nor conclusive; There were 106 105 - 9 99 BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, April 15.—The bond market drifted along today without de- veloping a positive price tendency. With interest in the convertible issues low, the volume of trading declined on thé AUSEINERLNT here were of a N broader Interest in investment securitiosy Bank of Chile €% among outside dealers, Bank of Chile 6% The better grades of bonds have had a good recovery from the low point reached last month., The market hav- ing adjusted itsel’ to technical condi~ tions, it will from now on be tested by titive rates of money and bond yields. A list of some of the advances in the different groups of securities in the last three weeks will give an idea of the change that has Equitable Co-operative Building Ass'n B Y i Assets ...............$5513,051.63 Surplus & Profits.....$1,601,704.98 | Subscription for the 96th Iisue of Stock Being Received | before. . Rails made the bi; up more per day going than 70 cent. Tradings in steel went. up nearly 40 per cent. ) Foreign Stock Prices. Ing‘exl numbers of stock 'prices on ipal es are given e 700 o Beame wad | Gbmaasy: e is lor 3 . Whereas. the second. week of October, Thrift Is the 1926, is 100 for England. . . . " " Enslend. Prance. Germeny. Foundation of $ucces$ Cultivate a firm d. gen Argentine 6s A. Argentine 6s B. Australia 4%s 6 Australia 68 1955... 21 Complete Investment Service SugarEstOriente7s. ‘Tenn Copper 6sB'4 TennMlecPow 7 ‘Transconti O1 Utllities Powr 6%s. Vertientes Sug 7s. Walworth 65 '45... Walworth 638 35. West Elec b e the battle of brok- ers’ loans contin- ued. The total dropped by the sizeable amount. of $366,000,000 below | M 'Greeer & Co. BANKERS INVESTMENT BUILDING 0 ‘WASHINGTON, D.C. Telopbone, Main 2460 We Buy and Sell ' Liberty Bonds Treasury Notes _ Ete. : vBond Department - The Washington Loan and Trust Company 900 F Street 620 17th Street BUILDERS—SPECULATORS 260 lats in fine N.W. section. Will sell all or part at an atiractive price. Call taken place during the period of slack- 9 107% ening culative activity but of con- Wilson & Co 18t 6s. WinRepeatAr1%s. AN RANAA T O IR DR REE HIS NN D B0 | Paul, Rock Island, Missouri, tinued high rates for money. Liberty bonds have all rallied a point from their low, while 'rressurg certificates are up from 2 to nearly points. Legal railroad bonds have re- | Ch! covered from 1 to 2!z points and legal publis utilities 1 to 2 points. The most satisfactory showing has occurred in the newer railroad 4! per cent refunding mortgages, such as those of the Chesapeake & Ohio, St. & Kansas, Texas, New Haven, Frisco, Union Pa- cific, Southern Pacific and Wabash, Of these, Union Pacific 4%¢s have re- covered 415 points. The new Chesa- peake & Ohio 4'2s, which broke from 95 to about 90, rallied to 94, but were off to 93 today. The public utility 41s held their market better during the liquidation than the rails. 'Consequent- ly, they have gained less than the lat- ter. This is also true of the low coupon foreign governments. In the foreign lists there has been conspicuous improvement in the past two weeks in bonds of the province of Antioquia, Commonwealth of Australia, Danish Munic 8s A Danish Munic 83 B. State of Bavaria and in Bolivis Brazilian, Peruvian, Chilean and lombian governments, as well as in the different provincial and municipal is- sues of tl countries; and also in Irish Fi Itallan, Austrian, Norwegian, French, | |rih Fr Bel and Japanese issues. ~Others | (‘2% that have shown the effect of belated liquidation are Italian industrials, Hun- garian land mortgage bonds and United |'Steel’ Works ‘of Germany 6!5s, which M | this afternoon touched a new low price. One of the features of today’s mar- ket was the 2-point rise in Pan- American Petroleum 6%s of 1934. These are convertible into class B stock at $70 a share. The Pan-American Petro- 1004 | Yngstn S&T Sa w.i. 24 100% RAILROAD. 4 T2 9% % | Atluntic C Loel 100 105 107% Atlantic CL 4%s 64 Can Nat 4% Canad Pac del Can Pac 4%3 CMSP&Pacadjb: Chi& NW gn3%s. Chi NW 4348 2037.., Chi & NW ref bs. the peak of three weeks before. This, however, is e your goal. Come Irving Fisher. most speculation on change, have meanwhile declined 4.5 | S duction -of only 6.3 r cent. Common industrial stocks, in which- there is the Stock Ex- CHICAGO DAIRY MARKET. CHICAGO, April 15 (). teady;. receipts, 11,232 tubs; creamery explain our Systematic Saving Plan. 915 F St. N.W. per cent, in price level. In the three weeks' decline in brokess’ loans, from December 5 to December 26, there was a reduction of $303,000,000 in the total, which was 5.6 per cent. During the same period common indus- trial stock prices went down 6.7 per cent. In December prices went down more than loans; in this Spring's de- cline loans have gone down more thah Over & longer period the relationship is even closer. Since the 1st of Janu- ary, 1928, loans have increased about 42 per cent. In the same period, the gr.t:e level of common industrial shares risen to 40 per cent. Steels Strong, Coppers Weak. The steels group made the best show- ing and showed up especially well to- ward the end of the week. Rails were quite uniformly strong. There was some very strong spots among stores, but others of this group went down. Coppers were uniformly weak, with only two stocks in the group advancing. The turn downward in the price of cop- per metal is the big factor. A Discriminating Market. It was the strongest stocks in finan- cial rating which made the best show- e C| ul 5| as a up. S AT S, prices of common industrials on the 3 extras, 43%5; standards, 43%;; firsts, 4215842 firsts, 41%5a42; receipts, 37,465 cases; extra firsts, 26a26),; firsts, 25a 2! ordinary firsts, 24a24 storage ed firsts, 28; storage packed ex- , 28Y5. ' Poullr}?—hme. firm; receipts, 2 cars; fowls, 32a34; broilers, 44a47; roosters, 21; turkeys, 30; ducks, 24a30; geese, 19. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Cc.) Nominal gold Selling checks value (or par). 2 s TREASURY CERTIFICATES, (Reported vy J. & W. Seligman & Coy RateMaturity Bld. © 0 : 5, 194 ‘The speculative issues | ¢ - IN RENEWING THE LOAN ON YOUR HOME CONSIDER: Length of Loan Interest Rate Renewal Charges .Through arrangement with the Met- ropolitan Life Insurance Company we can serve your needs to your satisfac- tion' at a minimum cost. No Commission Charges CCC&StL deb 4348, CCCaStLrfbsaA. CubaRR s leum of California convertible 6s have | x, also been strong. International Tele- Ni phone 4s, Alleghany Corporation 5s, Ne 7 American International Cement 5s and Cabh e SUB LN, o Atchinson 4s were all fractionally lower. 6% | Den & Rio G cn s, N e 99% % 99y | D Rio G West b3, Steel Operations to Resume. 108% | DRG & Wst 6378 Det United 4348, NEW YORK, April 15 (#).—Wall Erie conv ds A Street learned today that improved Erieconv ¢s B conditions in the steel industry had led 79 |ErieconvdsD..... to an order for resumption of opera- 84y | Ertecve 5367 Wi, tions at the Carnegie Steel Co.s 48- Erie conv ext 78 inch Universal Mill, at Farrell, Pa. The., 104% plant, idle for two years, will shortly 108% | Fonda J&G 4%5'53. employ between 150 and 200 men, It Great Nor gea 7s. is expected that repairs and readjust~ ments incident to the reopening will take from 10 days to two weeks. —_— {Washington Stock Exchange SALES. . WE&’_E.B_B_RO REALTORS 809 15th St. N.W. Main 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company INVEST NOW AT 6% with Security Protected by a Surety Company Guarantee B Oemlneans Queensland 7s RhineWst EP RhineWst EP Rhinelbe Un 7.. Bmos O AVORABLE reactions £ + + « buying reactions A 3%, sales . . . profits ees mmeauickerwilh the aid of Adams’ printed presentations. We create, and print, direct adyertis~ ing that builds business: 'Y investing now in First National Bonds you '~ can assure a 6% yield on your funds for 3, 5 or 10 years. The bonds provide, in addition, for payment - Bouse with which to deal i of of the 2% Federal income tax, and for-refunds of all cidi lar issue or local taxes up to an aggregate of %% per annum on . the principal. » A | 1ot Rapid Tran 6s.. Int Rap Tr bs stpd.. Int Rapld Tran 6a., 98% | 1nt Kap Tra 3 104% | 1n; & G Nor 80 | Int#GtNof ad; 03 S e N e NN RA R NOh BN RAE RN am Fs ok Rome 634s. fWashington Gas “A"—$1,000 at |Sae Paulo w|02‘é, ‘100th llg"i!i . -Washington o ect 45—82,000 at lfigjf s Anacostia & Potomac R. R. 55 gtd.— BYRON 8., ; $1,000 at 96, $2,000 at § y Potomac Electric 6% pfd.—10 at 113, 5 at 113, 5 at 113, 5 at 113, - .Riggs. National Bank—5 at 575, 3 at 575, 1 at 575. ‘512 11th ST, ° Title Inv. Co. Md. conv.—5 at 39. MA 8203 Chevy Chase Dairy pfd—2 at 106%. FVv v\ Mergenthaler Linotype—100 at 1073%. ‘ Real Es'.'ne Mtge. & Guar. Co. pfd—90 6%_ NOTES at 71 Secured by First Mortgages - Serbs Crot Sio Shinyetsu §34s 5! Soissons bs. Pirelli 7s 62 l:"i Towa Cent 13t bs. 12414 | Kan City Ft S 48, .+ 1054 | Kansas City 8 3s. 104% | Kan City Term 4 1026 | Louis & Nash 5%8. 10244 | Louls & Nash 7s... 109 | Man Ry 18t 45 90... 97% | Market St 78 40. ... 874 { Mill El Ry&Lt 4%8 99% | M!1 EI Ry & L 55 61 103s | Mil EI Ry & L 55 61 98% 29 1084% 86 82% " The First National Company, of Baltimore, Md., with resources of more than $9,000,000, stands directly be- hind your investment. And the bonds are further se- cured, dollar for dollar, by real estate first mostgages - that have a Surety Company Guarantee. Write today for Circular “O”, which' gives further particulars. INTERNATIONAL BANK Securities Department 16 Jackson Place Main 864 Tokio %8s . Utd Kingm 53829, AFTER CALL. utg Kingm 6%837. Washington Rwy. & Elec. pfd.—5 at 97. Mergenthaler Linotype—50 at 1077. Wi n_ Gas 65 “A"—$1,000 at| 10214. 8 W::hlngum Rwy. & Elec. 45—8$1,000 at Capital Traction Co.—10 at 987, Bid and Asked Prices. BONDS. o a4 M StP & SSM 6%s. MK&T st Mo Pacific g o SwRvaemamm= To All Investors’ 'I'Hflnmflyi-wdbonkdixu-ulropnfimly,up—b-dfl standpoint the many-sided problem of investment. The F. H. Smith Company publications are read year after year by thou- * sands. of investors all over the world. The book not only discusses sound First Mortgage Bonds, but also describes other types of securities which, in many instances, earn higher returns. It also explains why modern cit; real estate affords exceptionally strong security to both large and small investors. Tt deals, too, with the many safeguards developed by this House for the protection of its investors. Yokohama 6s 5 94 984 MISCELLANEOUS. Abram&Straus 6%e 2 109% 109% Alleghany evbswi. 79 101% 101 AmAgriChem Am Beet Su Am Chain Am Int Cos Mo Pacific 5s G 109% | Mob & Ohlo 4%5 77, 101 . 1044 2 a 86% 97% 103% 80 e Amer. Tel. & Tels: Amv Y, Safe—Conservative - & Pot guar . c 42 Ye.ars i AmT 99% | NYChi&StL 6%s B. Experience AmT&Tol tr c in finsneing homes and in.the sale of these se- curities. Make your savines and surplus funds . work for jou at { the highest-inter- est rate consistent ,with absolute satety. ;Wm. H Satmdefi Co, Inc. REALTORS i Main 1016 A copy of the book is waiting for you. Jus: tell us on the coupon where to send it. TraN - ~ | TuE F.H.SmrTH Co. Amqurlcc‘t:%:_l: N ¥ 8tate Ry % . 'nvestmen rities—Founded 1873 Armour Del 6% ; Reflectlny the ;-fitl;nmld;gs‘“ t - Washington, D. C. ‘Universe Atlantic Refin b N s B, .. Bell Tol a b8 C. Norfolk & W en 45.. (815 - 15tk Street, N.W.—Main 6460) B St be: R aasie ih, Branch Offces in—Kew Vork—and Other Cities Work was recently begun on a new telescope ‘which will enable astron- omers {o see billions of stars never known to man before. The most ime portant part of this telescope will be Beth Steel §%s 5. . Nor Pac 4458 2047. Bethlehem Steel 65, Northern Pac r 1 68, a 200-inch reflector weighing- thirty tons. 102!, 102% 1043; 105% 1017% 102% Barber & Ross. Inc., 8 9 Cham-vanaerviit Hotel" 8:‘ 100 {u',b 107% ADDRESS .......ccinierenssnnrnsersisasestsssnstcsanssnnee OCCUPATION ..o 481 3 -Td5 % srets Ore Short L ris 4s,. g;:x': ’gopnr“ll. e Ore SFort L 6s gtd Colon o“u“d":.t . Ore VIVuII 1st 4s... Col Gas&E| deb bs. 1 e Com Invest 5%s '49 Pennsyl gen ¢}4s. . C:m Invest 6s'48.. Penna R.R4%5'63. Con Coal Md ll‘zll. ' GUARANTEED §% * FIRST TRUST NOTES 0 North- R B B Ry ety 3 CAFRITZ 2016 14th St %. DI & Elec: com ash. Rwy. & Elec. bf 'fllis mirror will be mnde of fused : i quartz instead of glass, because even : ATTRACTIVE PROF- the infinifesimal expansion or cons- traction caused by a change in the lT—PLUS POSITIVE SECURITY temperature of the room would cause ‘a glass mirror fo distort the. tele- . scope’s reflection of the universe. . : : These two important ques- tions 'in any investment—is it safe?—and is it profitable >—are definitely answered by our '6% FIRST MORTGAGES [} We have carefully - investi- gated the properties upon whi¢h the loans have been made—and the return is liberal —without any ‘speculation risk. _TRUST 'COMPANIES, American urity Continental Netfons). Savines fon Trust.. Washinston Lo Humble Ol 5 Humble 0. & R : % There are -many securities which show the same sensitiveness to every . change in the business world, molr ing up or .down. from. causes totally foreign to: their intrinsic worth. Buf: thosg investors who purchase First' Mortgages through Swartzell, Rheem & Hensey Company d¢ not have to consider such exigencies, for these - - investments are at par day in‘and . day out and pay a steady, unfailing . income at 6%. Ulster & Del 48 \ 29 L 504 150% . Union Pac 18t rf 48. 3 3 o . t k our advice regard- 4% m 9:'-'@"'-:'&;‘:‘-'15 NI S : 2 o ask our adyi va e SWAmEl._' : RHEEM & HENSEY CO - ing this important: work. R MR Ll Sy Stop-in % - 1184 113% bash 18t 5 bash 24 MORTGAGE BANKERS . 727 15 STREET N.W./ i e .l 119% 119% 101 101 it 108% 101% 101% 112 1124 8 98% - Over a Third - ofa Century Without a Is At Your | B Service —to properly take care of the arrangements of..your will so your family will be protected when you: are’ no longer here. You. are free ERsEaiE, podlet £ yer: . Loew's 1ne §s. 6s wowar, SumSancRanen 3 1183% l18k. 47120 119% 86 86 101% 101% % 95 95l 984% 101 In amounts.from $250 up. SAUL €O. ° 925 15th St. N.W. 8106 104% .IM% “Qur Time Is Yours” S aeoericep B 8 1 A ol 1% 91k IBERTY ne 17 10134 101% 1a ‘_WAQ'_HING‘!'QN‘P-‘@,- i 8. 100% 100% 1 60 Years Without Loss To An. Initor £ N:(:.I!I‘H %863, NATIONAL % | Nor States Pow 6s. | Fifteenth and Eye Sts. SUBSTITUTE . FOR ~.SAFETY A v