Evening Star Newspaper, April 23, 1929, Page 15

Joseph L. Weller {i} al estate. e 8 Frous || THE IDEAL INVESTMENT Standard Collateral Trusteed Common Stock Shares A TRUSTEED OWNER~ SHIP in 100 leading American Corporations. it will be to your interest to investigate. Standard Collateral Sh Franklin 3783 s Cor Woodward Bidr. Mortgage Money Loaned At Low Interest Rates Tyler & Rutherfor 1520 K Street HAWKINS NASH d Representing Mutual lmefl,tn l.lir': l‘n’ni Ce. “Conveniently Located on 14th Street” 1529 14th St. N.W. Consult Us First Dee. 3320 If you mecd money for your Real Estate financing let us have your application today. Prompt Service oA No Appraisal Fee The Commercial National Company Incorporated Pald up Cash 1, $900,000 ercial National Bank Blds. Commerelsl, i'ins 6 LIST SHOWS GAIN Public Utilities Are Also Prominent in Advance. Convertibles Active. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, April 23, e strength of the bond market today was chiefly in industrials and in public utilities. The ;mm having had the largest advances of the mortgage issues, were quieter, as a group reactionary. . Naturally the industrials figured most the strength in stocks. They were sup- plemented by the large turnover in pub- He utility convertibles, such national Telephone 4!,s and Public Service of New Jersey 4¢s, the latter showing a revival after being dormant for some weeks and at one time having a net galn of 3 points. Anaconda Copper 17s gained 215 points, Anglo-Chilean N 78 were up 1%, with fractional advances in Al- leghany Corporation 55 and American 1 | International 51¢s. The Commercial National Bank Pays interest on DAILY BAL- ANCES on Savings Accounts. from DAY of earned to DA’ Y Come in and let us explain. Resources Over $19,000,000 14th & G Streets R. GOLDEN DONALDSON, President Cowmrrete FiNanciN Ist & 2d TRUST MONEY On homes, spartment buildings and business properties. No appraisal fee. Prompt service. Real Estate Mortgage & Guaranty Corp. 24 Jackson Place 14th and H Streets Capital, $1,000,000.00 Checking Accounts Savings Accounts 3 Acceptance Credits ¥ Time Deposits ¥ Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Checques Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts _ = 2, Main 1403 Continental Trust Co. Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets WADE H. COOPER, President Capital, $1,000,000.00 (J Unconditionally == GUARANTEED' A Generous Yield plus Safety af Principal An investment in our First Trust Notes as- sures a steady income, and you have the sa faction of knowing that the principal is absolutely safe at all times. Our 6% " First Trust Notes are secured by owner-occupied homes nearby Maryland . . . the very soundest type of security; with both principal and interest un- conditionally guaranteed by this strong company. Ask for illustrated booklet it will be MAILED to you | Potomac Electric 512% pfd.—5 at 10715, T was National Dairy Products 5% s, which last month of 93!5. Dodge 6s continued strong above 105 and Hudson Coal 5s tractions were higher as well as the bonds of some of the out-of-town sur- face line roads. . ° z i The enthusiasm that entered into the buying of the high-grade legal list last week has passed off. This group now shows the effect of the narrow market in them. - For instante, Atchison gen- eral 4s, which were bid up to 94 last week, were back today to around 91, with Unlon Pacific 4s and Northern Pacific 4s also lower. On the other hand, there was a good. demand and a higher price level for some of the dis- count 5 per cent rails, like Kansas City compared with a price of 95!, early this month. The first 3 per cent bonds 'of this road have rallled meanwhile from 70 to above 74, with both issues benefiting by their new legal status. Erie refunding 5s, Prisco, Wabash, New gnvm and Rock Island 4!2s were all irm. The foreign list .contained numerous contradictions in prices, with the Euro- pean bonds showing a hesitant tone on account of the crisis in Paris and others sympathetically affected. The improvement in the domestic bond market, which averages a point higher, compared with that of the low Southern refundings, which, around 99, | ¥ of the year, is reflected in cautious financing such as that today of the Carolina Power & Light refunding 5s offered at 99. This is a high type public utility bond legal in some States. sold earlier in the year around 10275, The New York City sale of $52,000,000 5% per cent corporate stock on May 7 and the new plan of Treasury financing were the main topics for discussion :ox:ong dealers in high-grade securities 2y, Rail Official Retires. PITTSBURGH, April 23 (#).—An- touncement of the retirement of J. B. Yohe, vice president of the Pittsburgh & Lake Erie Railroad, after 46 years of service with the company was made will be succeeded by his son, Curtis M. Yohe, assistant to the president of the New York Central lines. Yohe will have had 58 years of railroad service upon his retirement. . Washington Stock Exchange SALES. ‘Washington Gas 6s “A"—$500 at 10215, Capital Traction Co.—2 at 99, 10 at 99, 10 at 99. 5 at 9974, Potomac Elec. 5'5% pfd.—10 at 10714, 5 at 10715, 5 at 1073. w;.;ytngmn Rwy. & Elec. pfd—10 at Mercltgims‘ Bank & Trust Co—20 at National Savings & Trust Co.—2 at 565. Real Estate Mtge. & Guar. pfd.—25 at 71, 715, Merglenthller Linotype—30 at 108, AFTER CALL. Washington Gas 6s “B"—$100 at 103. Washington Gas 65 “A"—$1,000 at 102%. Capital Traction Cc.—10 at 99, 3 at 99. Washington Gas Light—10 at 106. w;zl;mgmn Rwy. & Elec. 45—8$3,000 at Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Telga. 47 . Amer. Tel. & Telga. 4'3' Am. Tel. & Tel. ctl. tr. Anacostia_ & Pot. R. R. Ana. Pot.” guar 8 C. & P. Telephone C. & P. Tel. of Va. 58 Capital Traction R. R. City & b1 . ‘Baito, ington Gas 5 Barber & Roes. Ine.. 81as Cham-Vanderbiit Hotel 61 Chestnut Farms Dairy 62s. Gheyy Chase Clup 51 on Norfolk & Wi Potimac Elec, Potoma: . Wash. Rwy. & Elec. Wash. Rwy., & Elec. pfe NATIONAL BANK. Secol National ‘Bank of ‘Wash, TRUST COMPANIES, American See. & Trus fontinental Trust..... nl Tut ‘Washington Loan & Trust. Bank of Bethesda Commerce & Savi t Wi lumbia Title.... Sorl Btute Hiiie sl *| Title & In Wash, rber & Ross, Inc.. " Chase Dairy S nd & Gravel ptd, Mergenthaler Li) Gal Hst Mige. & O Ity hereStoday. Yohe will retire May 1 and | Qi UNITED STATES. ' (Salae are 0 $1.000.0 Sales. High. Low. olor 21 4 988 98 987 Ixs. 10 1024 1024 48 19 30 1054 10428 (04203 %863, 158 1094 10830 10830 .~ FOREIGN. . Hi ‘conspicuously in the trading due to | g as Inter- | g, One of the strongest of the industrials | S* touched 97, compared with their low | Sh made a feeble rally. All of the local o » BARERANL LRI A= NAND NA G =30 15 03 -1 N 03 &1 Oyt 03 m 1o b 1 i b Dutch East 1 Dutch East 1 2 rem = _aer e o e ~-55 % 105% 103 10874 8s0 Paulo 85 1936.. Sao Paulo 195 Saxon (PW) 7 9 = ‘on! Toho El Pow Tokio 5 Toklo § Utd Kingm 6%s 37, Uruguay 6s 1960, Uruguay Vienna ¢s Warsaw 7 Yokohama 6s MISCELLANEOUS. Abram&Straus 6342 3 109%; 103% 102% 10215 DarenemramnTulewmwonanin o » 0 B 5%s Am NatGas 64243 AnSmit& R 13t 88, 2 Am Wrtg Pap 6s'47 Anaconda 18t 6s 5 Anaconda cv db 7s. Armour&Co 4%s 8! Atlantic Refin 53, Bell' Tei PaSs B Bell Tel PabsC.... Bethliehm Stl pm b8 Beth Steel rf 5s.... Beth Steel 5%s 53 Bethlehem Steel 6: Bkiyn Edison bs. Bush Term Bldg bs. "| Certain-Td5 % srcts Chile Copper b Colon Ol1 68 °38. Col Gas&E| deb 6s. Com Invest 5%s ‘49 Con Coal Ma 1st 126% 102% 106% KanCity P& L. KanG&E€6as2 Midvale Steel Mont Pow §8 & Mont Power deb INDUSTRAL BOND | === BOND Philips Petro 6% Por Ric Am Tob Postal Tel & C b Publioc Service 4% RemingtonAr 6s 33, Rem Rnd 6%s war.. SugarEstOriente Tenn Copper 61 B4 Walworth Walworth 6 Warner Sug Yngstn S&AT 6s w i, 86 3 2 1 101% 99 102% 2 101% 3 101% 107 100% RAILROAD. Atchison gen 4s. Atchison ad) Atch deb 4%s Atlantie C L, 1st 48, Atl & Dan 2d 4s 48, Bkiyn Mannat Buff R& Pitt 4% Can Nat 4%s 30, Can Nat 4%8 64, Can Nat 4%s 57, Canada South 5 Central of Ga §%s. Central Pacific 11 10 32 2 3 Ci Ches & O 4%s°'93 A 65 Chi & Alt 3% s cifs, CB&Q4%sT7B.. CB&Qlildiv Chi&E 111 gn Chi Gt West 4569, CM&StPgns9 ChiM&StP4 1% sC8! Chi M&StP 448 ChiMiISP&Pac! ChiTH&SE Chi T H Inc 6s . Chi Union Sta 58 44, Chi& W Ind en 4 CCC&StL 4%s E77. Clev Term bs Clev Term 6%8.... ConnRy&L4%s sta, Cuba Nor 648 cts.. Cuba R R bs. - Den & Rlo Gen ds.. D Rio G West bs... DRG & Wst 65’78, Des M & Ft D 4s. Duluth S S & At §s. EastTennVa&Ga 58 Erie 1st cons Fla East C 55 74. Gr Trunk stdb 6s, Grand Trunk i . Grt Northn 4%s E., Great Nor gen 7s Hav El Ry §%s 51.. Hud & Man a) 6 Hud & Man ret 111 Cent 48 52 111 Cent 43 63 111 Cent ret 4 111 Cent 4% 66. 111 Cent Ch1 4% Int Rapid Tran §s., Int Rap Tr 68 stpd.. Int Rapid Tran Int kap Trans 78 Int & G Nor 1st 6s.. Int&GtNor adj 6s 53 Towa Cent rt 4s. t Kan City Ft S 4 Louis&Nash uni 4s. Louis & Nash 5% Louls & Nash 7 Man Ry 18t ¢ Market St 7 MilEl Ry & L § Minn&StL 14 6s MK&TprinbsA. Mo Pacific gen ¢s... Mo Pac b8 A 65 . Mo Pac6s F 77, Mo Pacific 53 G 78, NYCHI&StL 6%8A. NYChi&StL 6%s B, NYC&StLésA.. New Haven 3%s 66. NY NH&H db 4s 57, NYNH&Hd%s.. 3 1 10 R ArRRLE B ALR KA Omara R e N B aa G P 3 7 1 o DT PSR- T TPy 5 66 9 202 L1% 20 6 4 10 50 NY NH&H cv db 68 129 N Y State Ry 4%s.. NY Sus & Wn 5537 NYW&aBeRs.... Nor & 8 gen 58 64.., Ore Wash 1st Pennsyl gen 4148 Pennsyi con 4}s. .. Penna RR %563, Pennsyl gold Ts Pere Marq 1st 6 Philippine RR 4 PCC&StLosA i Port RL&P T%s 46. Iteading gen 4148 A RioG W 1st 4s. " | Rio G West ¢l 4 994 106% 110 100 100 1 101% 1014 1024 102% 102% Nor States Pow 65. 36 100% 100 100% Nor States Pow 68. 3 104% 104% 104'¢ Pacific Gas & E18s. 21 101% 101% 101% 2102 102 102 62.... 1 103% 1084 108% PancAmer Pete 83, 117 108% 107% 107% Paramount 65 1967, 20 99 98% 99 R1Ark & L 4% St L IM&S 48 2! prin % (8t L8 W con 48 33, SLL & Sown 68 '3, P4 16 1 10 8 4 8 42 14 1 9% 88 113 9% 62 4 6 1 4 1 29 41 24 Becosen 37 Direct to The Star xenuxce] \GARQLINA BERRIES were not of the best quality. The Cali- fornia product sold at $4.50 and $5 a crate. Small receipts of ‘string and stringless beans, mostly from da, :flgl.lt prices ranging from $1.75 to $3 hamper. " Truckionds of ‘lettuce, Spring_beets, Iettuce and turnips also are being re- ceived from North Carolina. Lettuce ARE RECEIVED HERE light, market dull and slightly weaker; South Carolina barrel crates, - poin type, mostly 2.25; 115-bushel hampers, D GhleySupples gt demana ignt ;_demang A market flm,Pn 10-inch o ttuce—Supplics moderate; demand Onions—Supplies light; demand light, ‘matket slightly weaker. Old stock: No sales reported. New stock: Texas, standard -crates Yellow Bermudas, mixed No. 1 and No. 2, mostly 2.00. Potatoes—Old stock: 3 demand light, market firm: New York, 150-pound sacks Round Whi‘es, U. 8. A Vegetables From South Also 103% 108% 9% e 10245 97 Arrive at D. C. Whole- sale Market. That it is more than probable that the ‘“red-ripe-strawberry-man” will pe in evidence on the streets tomorrow was suggested by a wholesaler this morn-/ ing, when heavy receipts of the berries were landed here from North Carolina. ‘The berries were brought from the eastern section of the State in motor trucks, 200 or more crates to a truck, while other trucks brought supplies o# early Spring vegetables. Berries and vegetables from the Tar- heel State were started on their journey at various hours yesterday, drivers tim- ing their departure in order to reach here in time for early trading this morning, and most of the trucks were here before 9 o'clock. Huge piles of crates of the fruit were plled in front of business houses along B street, attracting much attention and being in fairly good demand. None of them seemed any worse for their long journey, dealers stated, and all were in splendid condition. The choicest of the fruit sold at 15 and 18 cents a quart, some of the small and gritty berries selling as low as 10 to 12 cents. Vegetable Receipts. Increased receipts of asparagus also came in trucks from North Carolin: California and other States contribu ing supplies. Green asparagus this morning was quoted at $5 and $6 a crate, white stock selling at $3 and $4. North Carolina growers also sent sup- plies of peas that were offered at $1 and $1.25 a bushel, dealers saying they Bales. High. Low. Close. 2 9% 9 1% 43 88 88% 108% 107% 108% 121 121 121 101% 101% 09 99% 58% 5874 4T% TexArk FS 5%s 50.. Tex & Pac bs Third Avere Third Ave adj 68 Tol St L & W 4s 60 Unfon Pac 93 Whash 4%s West Maryland Western Pacifie Public Bonds sold from $1 to $2.50 a crate, beets werz offered at 7 and 8 cents a bunch and turnips at $1 and $1.25 a bushel. Moderate’ and light supplies of other v bles were r . _Some sup- plies came from Texas, Georgia and. South Carolina, while nearby growers supplied some early Spring vegetables. Lima beans, Florida stock, were offered at $4 a crate, while corn, not of the :‘%« quality, found slow sale at $3.50 a ate, Dealers reported recelpts of increased quantities of pineapples from Porto Rico, most of them ripe enough for use. Four sizes of the fruit were quoted at $5, $5.50, $6 and $6.50 a crate. Mod- erate receipts of oranges and light receipts of grapefruit were reported. No. 1 grapefrult was quoted at $3.50 and $3.75 a box, as to size, selling from $3 to $4.50. Prices of most commodities this morning were the same as prices quoted yesterday. Today’s Wholesale Prices—Jobbers’ Prices Slightly Higher. Butter—One-pound prints, 461,247 tub, 4515a46',; store packed, 29a30. Eggs—Hennery, 28a29; fresh selected, 27a28; current receipts, 26. Poultry, alive—Turkeys, 35; Winter chickens, 42a45; Spring chickens, 50a 55; fowls, 34; Leghorns, 32a33; roosters, 32; ducks, 25; keats, young, 60a75; old, 35a40. Dressed—Turkeys, 40; Winter chickens, 45a48; Spring chickens, 58a 60; fowls, 36a38; Leghorns, 35; capons, large, 50a52; small, 45a47; ducks, 32a 33; keats, 80a1.00, Meats, fresh killed—Beef, 22a24; vei 25a27; lamb, 30a32; pork loins, 33a3 Iresh hams, 26; fresh shoulders, 2 smoked hams, 28; smoked shoulders, | 17; bacon, 22; lard, in bulk, 14; in| packages, 1415a15. Live stock—Calves, 16; lambs, 18, Fruit and Vegetable Review. ‘The daily market report on fruits and vegetables (compiled by the Market | News Service Bureau of Agricultural Economics) says: Sales to jobbers ex- cept where otherwise noted, Apples—Supplies light; demand light, market steady; barrels, no sales re-| ported; boxes, Washington, medium to | large size, extra fancy Winesaps, 3,00; few higher; bushel baskets, Virginia, U. S. No. 1, 21} inches up, Winesaps, 2.25; U. 8. No. 1, 2% inches up, Wine- No. 1, 2.15a2.25; Michigan. 150-pound sacks Russet Rurals, U. 8, No. I, mostly 225. New stock: Supplies liberal; de- mand light, market firm;. Florida, double-head barrels Spaulding Rose, U. 8. No. 1, 7.25. light, market slightly weaker; Arizona, cr! Ice! type, 4-5-dozen, mostly around 550. North Carolina 5-peck hampers big Boston type, fair quality, eafy, 1.00a1.75, An Unfailing Ally --a specialist you need HIS swift, efficient age depends on special- ists. And the business executive, a specialist in his line, deeply engrossed ini his own business, cannot be expected to be conversant with all trends and investor’s problems. Enlist.the services of an Iglehart representative, a highly trained specialized investment adviser. He will supply you with information you need in making major investment decisions; keep you advised of developments affecting your hold- ings; inform you of investment trends. His ser- vices are yo;rsfyqr;;he vas%nz_.? saps, 1.60a1.75; unclassified, 2!, inches J‘A‘: wfi!@léfie‘fii& tn. up. Winesaps.' 1.75; U B.No. 1, 2% ¥ iches up, yellow Newtons, 2.35a2.50. T At:’plrngdus—:upplle; tm?ge;m Sodffi ¢ Imsf”‘.‘“" Bankers mand moderate, market steady; ! Carolina Hartsville section, dozen bunch 719 15TH, STRE‘!E’T. N. W. 5 WASHINGTON, D. C. Baltimore, Md. Clarksburg, W. Va. crates, green, long, very large size, 5.50 Wilkes-Barre, Pa. Richmond, Ve, = 26.00; large size, 4.5025.00; medium e size, 3.5024.00; small size, mostly around 3.00; Delaware and Eastern Shore, Md., dozen bunch crates, greep, large size, 4.00a4.50; few fancy, vefy large size, .50; small to mediumnséze 2.50: Cabbage—Supplies Utility Convertible Bonds And : with Stock Purchase Warrants Offer Unusual Possibilities For THE record of convertible Public Utility Bonds and Bonds with Stock Purchase Warrants during the past ten years has been” _ most remarkable in realized substantial ' Not once in the last fiften years have Power and Light earnings failed to advance. They have increased steadily, not spectacu- slarly in boom times, but at the same even basis, irrespective of the general business and economic conditions of the country, The desirability type of sound public utility companies as attractive investmen lowing bonds reco: Gillet & Company: CALLED Seourity Standard G. & E. Conv, Citles Ser. Cor Cities Ser. Co: Cities Ser. Conv. Citles Ser. Conv. “E” 8’ Southern G. & P. 1No. States P. C STILL OUTSTANDING Securlty Assoclated G. & E. 4%’ Cities Ser. Deb. 8's '63. Southeastern P. & L. 6's. Penn Ohio Edison 6's. United FElec. Service 7 ® With Warrants. 1 Not ealled but conversion privilege expired Jan, 1, 1029. Large Appreciation $30,000,000 INTERNATIONAL HYDRO-ELECTRIC *SYSTEM Convertible 6% Gold Debentures, due April 1, 1944 I properties controlled by the System upon com- t financing program will include hydro- electric generating ons with a total capacity, installed or under construction, in excess of 1,037,000 h.p., of which 787,100 h.p. is now in operation. This capacity is capable of being increased, through further development of present prop- erties and the utilization of undeveloped sites, to an aggregate of over 1,800,000 h.p., or approximately three “times the capacity of the Niagara Falls Power development. Gross earnings of combined properties for the year 1928 amounted to over $40,000,000. Net earnings after deprecia- tion cover the interest charges on this issue of Debentures more than three times. Y Price 100 and Accmad’ Interest $36,000,000 UTILITIES POWER AND LIGHT CORPORATION 5% Gold Debentures, due Febrpary 1, 1959 (With stock purchase warrants) The American properties of this Company provide princi- pally electric and /or gas service to 521,000 customers in 832 cities and towns in 19 States. The British properties provide & 1009 electric service to a territory with a population in excess of 2,000,000. Net earnings for the year ending March 31, 1928, were over 2.6 times maximum annual debenture’ interest requirements. Price 98 and Accrued Interest $35,000,000 EASTERN UTILITIES INVESTING CORPORATION 5% Gold Debentures, due March-15, 1954 (With Class A Common Stock Purchase Warrants) This Company is engaged primarily in the business of acquiring and holding for long-term investment, securities deriving their income from public utilities and allied enter- prises. The investments of this Company include over twenty- five of the well-kiown Power and Light companies. Net earnings for the year ending January 31, 1929, were over 2.45 times the annual interest requirements on this issue of Deben- tures. Price 98 and Accrued Interest The above information has been taken from circulars descriptive of the es, copies of which may be had én request. that the investors have profits. of select bonds of this ts is reflected in the fol- mmended and sold by gty mended Cal 153 189 158 129 181 140 1 L Price When L 1213 26% M5 8% 100 183 3% 8 138 8% 96% ‘U3 48% 961 %135 40% 2% ‘116 20% g these issues as a particularly attractive investment becY:n”:fog‘:T-inrfibh features and Stock Purcln..n Warrants, good yield and wide margin of security. We believe that investors who take advantage of the present bond market eandma.ml-nd put:hul'tlu_ bonds we are now offering will be amply repaid in a comparatively short time for their vision and foresight. GiLLer &-Co. BANKERS- INVESTMENT BUILDING ‘WASHINGTON, D. C. Telephone Main 2460