Evening Star Newspaper, April 18, 1929, Page 15

Complete Investment Service GreerT & CO. BANKERS INVESTMENT BUILDING WASHINGTON, D.C. Telephone, Main 3460 We Recommend— Spencer Trask Fund at the market Irving & Johnston Woodward Bldg. Main 8973 Cofrespondents of Spencer Trask & Co. Members Wash. Stoek Exchange STUDEBAKER R. McREYNOLDS & SON 1423-25.27 L St. NW. Decatur 686 i NEW CARS USED CARS The Commercial National Bank Pays interest on DAILY BAL- ANCES on Savings Accounts. Interest starts from DAY of deposit and is earned to DAY of withdiawal. Come in and let us explain, Resources Over $19,000,000 14th & G Streets R. GOLDEN DONALDSON. President CowmpLeTe FINANCING Ist & 2d TRUST MONEY On homes, apartment buildings and business properties. No appraisal fee. Prompt servi Real Estate Mortgage, & Guaranty Cotp. 24 Jackson Place Main 1403 $m % " B Smith 1% o, Nu;therl Virginis g o ress Bldg. U 2 P L] ‘l‘:li:.r‘nn(enll Finanee Units THOMAS L. HUME 1412 G st. Main 1346 LOANS 5% On High Class Residential Property Write for Booklet Jos. W. Brooks & Co. General Insurance Trlnspormmn Bldg. Frank. 2913 THE IDEAL INVESTMENT Standard Cpllateral Trusteed Common Stock Shares R~ American.| Oomnnnnn It will your interest to l!vllll(l!& llateral Shares C T T h T Over Third of a Century’s Experience Witheut the Worries - At regular periods we ren- der the owners of properties under our management de- tailed statements. You see at a glance the value of our service —with out’ taxing yourself with the innu- merable incidental worries. B. F. SAUL CO. m-nu—mmuu.w._. BOND PRIGES GAIN INACTIVE MARKET Further Recovery Occurs as Rails and Utility Issues Lead Advance. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, April 18.—Active buy- g of bonds again today by some of est New York blnh and trust | A te bank as well as by pri ing houses carried prices higher and materially cut down thv net losses of the year. The market was actually buoy- ant in some quarters and had a more bullish aspect than at any time since last Autumn. Buyh centered on the high.grade rails and on the railroad junior issues. Atchison general 4s touched 94, which is half above their previous high of the year and represents a 4-point recovery. All of the standard legals were strong. They have now reached a level wlm'e their yields compare unfavorabl; tax-exempt fssues as well as rate for time money. comes mainly from institutions and estates, With the new 412 per cent rails al- ready up from 3 4 points, it was felt that they had made ample re- adjustment, Consequently the demand went into the 5 per cent issues thap are still selling at a substantial discount. This accounted for the strength in St. Paul general §s, Erle refunding S5s, Kansas City Southern refunding 5s, Missouri Pacific refunding 8s and Bos- ton & Maine 55 in which gains of half to 1% points occurred. There was more disposition also to purchase the 5 per cent public utilities that are at a discount. This made the outside market more active than it has ybeen for days. On the board Utah Power & u. t s advarced from be- " Sttengin 't en, e stock market led to & vigorous rally early in the day in some of the convertibles. International Telephone 4148 jumped up to 125, com- ‘pnred with yesterday's closing of 122%. Anaconda Copper 7s rose 5 points. Both issues later reacted. The other canvert- )ibles were quiet and little changed in | pri | Unfled States Treasury certificates + improved their position so that about | 75 per cent of the year's decline has been recovered in the 4%s, 4s and 3%s and nearly all of it in the 3% per cent issues. This improvement in the Gov- ernment bond price list will have a very stimulating effect on the portfolios of many banks throughout the count: The foreign list was firm, especially Europeans, which did not seem to be ! affecled by the discouraging character | of the news from Paris. In the past week French 7Ys h: advanced 2 lh'-h' | po! | market for Itallan and German bonds. STOCK RIGHTS OFFERED. NEW YORK, April 18 (#).—The | Chesapeake & Ohio Rlull{ today of- | fered common stockholders the right to subscribe to additional common shares 2t $100 a share in the ratio of one new share for each four held. On the basis of yesterday's closing pricc of $226.75 the rights are worth about $25 per share of the common now outstanding. Washington Stock Exchange SALES. Capital TEC“QOT B5—$500 at 99%. mac Electric 8s '53—$1,000 at 107. Washington Gas 6s “B"—$200 at 10314, .IM at lol‘fi. $200 st 103, " u & Electric 4s—$1,000 wuhin‘nnn Gas Light—10 at 106, 10 :Dm’rlct National Bank—5 at 237, 20 af Columbia Title Insurance Co. —60 at 13, fl Ch!’ag'r'l‘_s(lg 1d.- 33 at lerchants’ Transfer swm' d—8 at 1101, 5 at 1105, v Mergenthaler Unotype—lo at 1074, 20 at 1075, 50 at 108, 10 at 1o|, 10 at 1087, 10 at 108, 20 at 10815, Nl;zin . & Invest. pfd.—3200 at Real Estate & Guar. pfd. Tig. 160 at 10 e Woodward & Lothmp pfd.—30 at 110, AFTER CALL. r{lnmller Linotype—20 at 108. | ington Gas 6s ”B"—“ 000 at 103. Potomuc Electric 51; % pfd.—1 9 Chapin Sacks 8% pfd ~10 at 1083, at 108%. Bid and Asked Prices. . & P. Tel. of Cap. Traction R. R, City & Suburban § Georgetown Gas 1 wy, & Elec. gen. MISCELLANE Ame-Vanderstit ‘Bier Chestout. Farms Dary wasn. ke, Coid i Wash. Cons. Title [1 o fmpats Fotomac Flec, A" ‘pld Ewy. & Elee. com. . R'y & Elee. pfd.. NATIONAL BANK. National Cepital 1 Goiumbia points and there has been a strong - [ormvoe_BONDS o s Received by Private Wire Direst $o The Star Office UNITED STATES, 2 1028 10124 107 10510 104 22 21096 10916 FORIIGN. High. i It Public Service ¢ 107% 107% 105 1064 114% 1113 108% 108% 83k 89 1024 102% 100 100 Demand for them i 100% 100% 100% 101 103% 104 9% 99% 98 9w 93 93 1014 101% a8l 38% €8 88 98Y% 98% 8T BT 9% MW 100% 100% 10915 109% 10915 109% 109% 109% 87w 87 108% 103% 102% 102% 109 109 9% 94% T8 BT% 95 95 100 100 103% 104% 1074 107% 12 112k 108'% 105% 98 98 Canada 6s 1952, Canada 8348 1929 Finland 7s. Framerican French 7s. Greek 63 1963 Hungary Tha 1014 101% 96% 96% 9214 92's 101% 101% 104 104 92 92 4 102k 102% 9% 96 99% 100 101% 1 101% 101% » e e epae Suaninate-ssnte 105% 105% 104% 104% 107% 1084 108 103 Queensland Queenstand Rhinelbe Un 7 Rio GrDo Sol Rio de Jan Rome 6% 90% 90% 1084 105% 103% 1034 102% 103% 102 102 109 108% 6% 6% -ty Swiss Confed Toklo 6s... Tokio 5%8 1961..., Utd Kingm 6% w37, Uruguay 6s 1960.., Uruguay o o St R e T L LT T B L=T AL A= TP Yokohama s wi... 20 93% 9 MISCELLAN!OU!. Abramé&Straus §%s 108 108 Alleghany eviswi m 1014 101% 1% 104 104 974, 974 1034 1084w % 19 101 101% 104 104 99% 99y 103% 103% 108% 1034 1054 106 984 98% 101% 1044 AmT&Ycltr AmT&Teltr Sales. High. North Am Edis bs.. 20 100 Ed 8% 40 101 % 1 104% 104% 101% 101% 01% 101% 101% IOIK lol\fi o 104% 104‘/. 29 2 8. 30 RemingtonAr 6s l. i Simms Pet: Sinciair 01l Stand 01 N J Stand OUN Y Tenn Copper 6s B TennKlecPow w & L uunuu Powr 648, Vertn Walworth 8914 102% 101% 108% 1024 101% White Eagle O %48 16 Wihison & Co 181 68, 5 WinltepeatAr 1%s, 3 107 tn S&T 6s wi. 18 100% RAILROAD. Ann Arbords...... & 172 At&SKF cvt4s06.,,. 1 88 Atchison ad) 4s. 1 Atchison gen 5 Atlantie C L 18t 4s. AtlantiaC Lel B&OGId ¢s 91% 91% S 2 4 101% 1024 | § i 105% 108% | ¢ 1054 105% | B & U Toledo Boston & M; Brookiyn Elec Brooklyn El Bkiyn Mannat Bkiyn Un E1 53 '8 Buff R& Pitt 4% Bush T.HI? con Can Nat 4%s 30 Can Nat 4338 54 Canad North 7s ¥ | cent or two. It was reported ChiM1ISP&Pac5s?6 128 CMSP&Pacadj5s03.193 Chi NW 43%s 2037,, 2 e - rasekInSoruBuos vonemednanLSnn-ub Int&GtNor ad) 6s 53 Int Ry CA 6%sret. lowa Cent rf 4s. 2174 217T% | o sl 9l 1% 72 72 103% 103% % 1055 105% 100 100 102 102 102% 102% 104% 104% 103 103% 100 100% 3% 3% 95% 95% 99% 99% Armoul&Cl‘N\fi. LYY a1 Armour Del 6% 3 Atl Gulf S6s.... Bell Tel Pa 68 B. Beth !tm l\u 83.. Bethlehem Steel §s. Bklyn Edison bs. ... Bush Term Bldg §s. Certain-Td5 Y srcts Colon Oil 88°38..... . Com Invest 5%s ‘49 Cun Coal Md 18t bs. Con Gas N ¥ 5%s.. Consumers Pow 6a, Cuban Am Sug Detroit Edison 4 106% 106 102 103 101 101 1065 1074 Commercial Di: Second National' Banik ‘ot " Washinton. 311 TRUST COMPANTES. 438 {Union Trust Washington Lon' &' T BAVINGS BANK. Bank of Bethesd: | Commerce & Sav | Eagi " Washinaton. | Potomac ngfigr’;m gz | Dinited tates | Washington Mechanics' i FIRE INSURANCE. American Dodge 6s. . Donner Steel Duquesne 4 %s 67 ba Bug 74 4 101 101% 100% 100% 9% 99% 81 81 112% 112% 106 105 981 98% 101% 101% 107 107 93% 9% 824 824 1004 100w 101% 101% 102% 102% Y6 974 102'; 103 Bk 914 104% 105 961 98% 101 101 83 93u YU 9% 93% 934 123% 124 11linots Bell | Tilineis Steel indiana Steel 5s. Inland 8tl 4%8'78. int] Cement 58 48 int Tel&Te! 98% Int Tel&Tel 4348 oV m 1264 102% 105% 1 110 110 110 92% 100% 101 R 1018 101% ¢ 98% 69 101 1ot | Port L&D 3 Wol( 108 l“\i xm m 102! 102% | Nori 056 108 Kan City Term M1l El Ry&Lt MIEIRY&L Minn & StL re Minn & StL en MK&Ti1st MK&T4sB MK &'Tad) M K & T pr in bs Mo P'acific gen 43, Mo Pacbs A 65 Mo kac bs F 77 Mo Pacific 6a G '78. 102 Nash Chat&StL 4i NYC&StLesA.. Now Haven 45 55. . NYNH&H %S, . NY NH&H ov 4988 NY NH&H cit s L NY O&\W gen 48 55. N Y iys 6y 65 N Y Rys6saA65. N ¥ Suate Ry ¢% NYStateRy 648 62. NYW&B4W Norfolk & W cn 4 Nortnern Paoise 4 lOIK 10!% 110% 111% 98% 98% 87 - 884 Pen en 4% 8 Pu::’l‘!‘l 4% "%, " renti {Port il . T8 1tand ng pen 4308 A teading JC4n bl Rio G W Ist 48 RIATK& La%s St L lul! Gll StL IM&8 l l 18 110% 1104 mu "4 | chickens, 45a48; Sprh SUPPLIES REI]UBEI] Storms Along Coast Prevent Work of Nearby Fishermen, Storms along the Atlantic Coast this week played havoc with oystermen and fishermen and resulted in creased receipts olmnfl.m llm !.lulnctlmrnu "Conma llonx uu eult nfly ln glm Few shipments were owever, so that consumers will not have to go. without fish for Friday and the week end consumption.” Fish From Boston. Local dealers received shipments of ;hml ral nmmu? o{d fl.!:d’!rom Boston und r S pe "G o 1 fish hmn there offe! was the Boston munnl. [ nl:mlm always is in demand. BHM at 'zg.unu & pound, a muoh higl n l-Mdock, the cheapest fish on the|ggpe market today, found ready sale at 9 cents a pound, the fillet selling at 23 | {hoge of cents. Fairly plentiful supplies of the fillet took the place of severzl varieties of fish that were nol to be had at any price. There was plenty fresh cod to be had for 18 cents a pound, and fresh halibut was not scarce at 25 cents. Flounders were offered n‘ l.bd ee{nu. No c’kmm ;ll; mon was received from pa morning, by but a;lukr': had frozen stock | n; Ghn sold at 25 cenf Dealers had both buck and roe shad from lower Potomac and Chesapeake !Iy nets and small quantities of rock- fish from the same sections, both va- rieties always being in demand when in season. Roe shad were quot this morning at 35 cents, bucks uluu at 22 cents a pound, while the rockfish found ready sale at 30 cents & pound. Practically no perch have been uuxht the past few days, but dealers had m plies of croakers this morning to at 10 cents a pound. They also h-d uantities of kingfish, caught in North %lrohn‘ waters, to cffer the trade. Oysters were scarce, oystermen have ing been unable to go on the river on leeounb of the stormy weather the past di Crab meat was to be had at pound, but thfi; 'were prac- tically no hard crabs 4 merchants huvo felt the effects of storm this week, light "“fi. the past few days having market a trifie firmer, Deu ments are expected tomorrow -nd Bst- urday, however, and prices may drop s this morn- ing that eggs due here from Maryland and V‘Thnrgu the first of the week were two or days late arriving. Fruit and vegetable dealers this morn- ing had attractive displays to claim the mennan of retailers, They had oranges | Stoc and grapefruit of various sizes and bananas and pineapples that were re- ported especially attractive. Poultry continues scarce and high and dealers reported still further in- creases in the pflu of fowls. Live fowls this morning were quoted at 34, dreued stock bringing 36 and 38 cents pound. Prices of most commodities, howum. ‘were the same as prices quoted yesterday. Today's Wholesale Prices—Jobbers’ Prices Slightly Higher. . Butter—One-pound prints, lcléu‘l‘l;. tub, 45358463, mu ed, 28a: Eggs—Hennery, 28a29; fresh 'eleeud 27a28; current receipts, 26. Poultry, alive—Turkeys, 35; Winter chickens, 42a45. Spring chickens, 50a 55; fowls, 34; Leghorns, 32a33; roosters, 32; ducks, 25; keats, {:uu m'u: old, 35a40." Dressed—Turi ‘Winter chletem. 58 60; quls BBI(II Leghorns, 35 lmlll. 45a47; duell !I lu 3 lon Meats, fresh killed—Beef, 31a33; ;nl 2&20 lamb, m“fhn pork lnlul.fll! resh hams, ‘2 ulders, 20a31; smoked hams, 28a29; smoked ‘shoulders, 20a21; bu:lozl 22; lard, l;l % lll'%lll. ; compound, {3 muve“_ l—c-lvp:. choice, 15; me- dium, 10a12; lambs, 20. Fruit and Vegetable Review. ‘The daily market report on fruits and vegetables, compiled by the Market News Service Bureau of Agricultural p, Staymans, fln and condition, 2.35a2.80; U. 234 inches, Yellow chhm %! zNo 1, 2% inches up, Yellow mw- Anpnr-gul—sugplles moderate; de- mand light, market dull; South Caro- lina, dozen-bunch crates, green, 3 very large sizes, 5.50a6.00; large size, 5.0025.50; medium size, 3. mtw mml size, 3.00a3.50; vei moderate, market slightly stronger; South Carolina, 1%;-bushel hampers, pointed type, 1.25a 3 e i gt cemand tgnt u) 3 des mnke{, studgp ids, 10-inch crates, individually nd pre-cooled, 4-6 dozen, 2.75a3.00. Lettuce—Supplies moderate; moderate, mrket .unmy ‘weaker; zona, crates Iceberg type, 4-5 domen, 6.0006.25; few hl.h a8 uo, North Car- olina, 5-peck hampe: ig Boston type, Comeidarasle. leaty. 3008500, 5-peck {u.?pem. Iceberg ype ordinary quality, e Onloru\—supplles lllht. demand light, market steady; old stock; no sales re- | ported; new stock, Texas, standard mtes yellow Bermudas, mixed No. 1 and No..2, !MM “W low as 2.25. Potal M—O ;l. llmlud. ew Yo banks, :ek, Spat m.‘.’flfif:“u. 8, No. l. 7.008 5, 3 “ mo;ltgmw in stock supplying smwbem:n—-suggges moderate; de- Sales. High. Low. Ciose ern 2d 4s. 25 80 80 80 D 58 4 102% 102% 102% Sln A& Arn P 894 89% ¥9% Subnlr': A 'L 4 Seab A SeabAL adj 65 1949, i: 'l'umAml!-l-.. ll Tex & Pu 977 1 Third ‘Third AVO adjbs. .. Tol St L& W 4s 50, Union Pac 18t Unign I'scific ¢ 6. Union Pag 1st rf 48. Union Pac 4148 67.. Virginia Ry 18t at in- |t0e, er price | o 24-) C crates, .50; few low as 1.50. g ht; demand ~ *Tomatoes—Supplies _iig f fn: light, markst about steady; Florids sixes, | I{iIUR vested ‘wrapped No. 1, count, 'mmw; choice count, nouu, 3.50a4.00. String moderate; de- wdm“nh.mr t steady; Florida, zi .00a3.25; m b' 250 | as . — Supplies ll‘ g:;m A b fancy o wey | DIAMOND INDUSTRY BECOMES STABILIZED . — BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, April 18.—Careful .m- mates of the world demand for rough diamonds in 1929 place n at 'eu above $100,000,000. This fact with of the Transvaal and Namaqualand, Colony. The stones from the former were of inferior quality, but the latter were very fine. Each is an alluvial district, however, as du- tinet from the deposits found in pi) hence flush production was of duration. While the United States is the largest purchaser of diamonds, Africa is by far the largest producer. In 1928 about $03,000,000 worth of rough diamonds roduced, of which Africa fur- 94.6 per cent. South Americs, | o Bornoo. Australia and India accounted for the remainder. This production met ready sale. By Midsummer the Dia- mond Syndicate had di: of its stock, estimated at $40,000,000. The nverue price of rough stones has in- creased as & result of the better sta- tistical position. ‘The aem-nd is still strong for fine rough stones of three karats or over, but there is a tendency for an increase in the price spread between fine and mediocre stones. Large cut stones are still scarce, and the ‘demand, especlally for marquises, emerald-cut and other fancy shapes, is excellent. Prices, which already han had several advances, are expected to rvnctnen again this year, FOREIGN EXCHANGE. (Quetations furnished by W. B. Hibbs & Co.» lominal gold Selling checks ‘orpar). _today. K, e ,v.,:“a"?" t. Buda mf” cmwn 5 cré Money Available for FIRST DEED OF TRUST LOANS On Completed Properties and for Construction Use Reasonable Interest and Commission Rates JAMES F. SHEA 643 Louisiana Ave. N.W. Consnll Us First u need money for yonr ? al Estate financing let us have your application today. Prompt Service No Appraisal Fee B The Commercial National Company Incerserated Paid up Cash Capital. §900.000 o.--emnl}:.-—sml—nnn Bt with ample funds available for Construction Refinancing Low rate of in- terest and com- mission. B. F. Saul Co. M. 2100 925 15th St. 1 ?lum of capital Mv:gm e to rise. The process will be Eastward transcontinental The associated air lines oo-upeuflnl in such service will not be requires come under Interstate Commerce re[u- m.ion in ee-optrnln‘ for the trans, n d comm ng‘lrl odities. Ihe rail lines participating will have to hough safety Tentative time lcmmu allot 49 haun for the New York-Los Angeles trip un- der the new arrangement, and rates will be far above rail fare. Food exports into the United States | for 1028 are calculated by the Com- merce De) ent to have had a value the same year by the sum of $19¢,517.- 000. calue sugar and cocoa, in the or- der nai the la: t items in the country’s !ood l.mpon 1 ‘The Argentine corn ¢ crop. directly and | indirectly competitive with American! ) | | 16 Jackson Place . TONIGHT oysters, sardine and mackerel SHORT-TERM SKCURITIES. (Reported by J. & W. Wheelin Ger Ger Gt | North of $955,037,000 and to have exceeded ;0 American exports of food products for| Darmstaedter Chem ur Bank Vienna | Hesden | Austrian Rudoiph STEIN BROS. & BOYCE Established 1853 Woodward Building WASHINGTON, D. C. Main Office: Baltimore, Md. Members New York, Baltimore and Washington Stock Exchanges Associate Members New York Curb Market nion, Ol Co. o United Drug Co. 5a 1983 tric_Co. 8% el corp. !'u GERMAN BONDS AND STOCKS. NEW YORK, April 18 (Special) . — Bid. Asked. ovt Red Loan with draw. Tne ils attached pe A Hamburg Hambuzg Ar American Lind 4is Erupp Bs Dusseldor? 4s pi Frankfort a-M 45 pre-wi Munich 4s pre.war (Quoted in dunur: pet AEG (German Ge (German Ge Bleer An Analysis of Baltimore Tube Company, Inc. We have prepared a folder containing interesting information concerning this company. request, we will be glad to send you a copy. Illl”fl)fl % Conn without draw: etfs per 1 28.00 oted \n dollars per million, mnl‘! Hary e 2: B o 10 l‘ 1 >33 man 192 and Privat Bank. e 833332333333, $3333333338833 ¥hir3339383 BaBaD20R83518 2aSuo Gyi0en lhe dt. A SAFE YIELD OF 6% with First Morigage Security ihat 1s Surety Guaraniced IRST National Bonds, now offered to yield 6%, are secured, dollar for dollar, by real estate first mortgages that have a Surety Company Guarantee ot principal and interest. They have behind them, also, the full responsibility of The First National Company, of Baltimore, Md.; with resources of more than $9,000,000. For further facts, ask for Circular “O". INTERNATIONAL BANK Securities Department Main 864 Upon MR. P. S. ARKWRIGHT, President National Electric Light Association \/J will speak on "&zergz'zed “Dollars” Mr. Arkwright, as head of this important association, will speak from first hand knowledge of the part played by the public’s money in building up the public utility industry to its present size and scope. His address should be of great interest to every listener, whether as a user of utility service or as an investor in utility securities. Tune in the HALSEY, STUART & CO. RADIO PROGRAM WRC —10 o’clock Broadcast over a Coast to Coast network of 36 stations associated with the National Broadcasting Company. Music by instrumental ensemble. “Acopy of M. Atkcwrigh's addsess mey be obssiied by sricing Halsey, Seuare & Co, 207 B. Redwood Street, Baltimore, Aak for folder WR-4