Evening Star Newspaper, May 28, 1929, Page 15

. Real Estate Tifle'" FINANCIAL.Y ISPECULATIVE BOND PRICES DIP LOWER oo {Market Slips Off Further To- day Despite Attempted Rallies. BY CHARLES F. SPEARE. Epecial Dispatch to The Star. NEW YORK, May 28—Prices of speculative bonds did not get very far from yesterday's closing figures during | xrgentin most of today’s session. There were feeble rallies in the 1A con-| Austral I ON NEW YORK UNITED STATES. (Sales 8al Lib3%s.... 90 Libisteks 16 Lib 4th 4% s 195 US3%s43. 95 US3%s47. 1 US3y 1 USd4s1944. 29 10229 10 US4%s52. 26 1066 106 FOREIGN. Sales. High. Low. Close. Argentine Bs. .. 390k W0k 90k Argenuine 6s Ju 9. 42 99 984 Argentine May '61. 11 98% 98l Oct 69 20 95% 984 | Argentine 5%8°62.. 6 954 9514 | Argentin L 4100 99% 15 99% 98w ustralli 85 914 9516 99 26 vertibles, but new weak spots in other |y parts of the list, so that the general A market average slipped off a little more., gank of Chi) It is now 3'; points under the high of last January and 7 points lower than in May last year. Slightly easier rates for call and time money apparently had no effect in & situation that at the moment is influ- enced primarily by conditions in the speculative market. Bank of Chile 6% Belgium glum 6% gium 78 195656 Beiglum 78 1958 Belgium 7% A temporary de- | Bolivia 7sct ‘69 cline in bonds usually accompanies a | Bolivia 8 severe reaction in stocks, both for senti- mental reasons and because of the exi- gencies compelling liquidation of the one class of securities to protect margin accounts in the other. There has been a severe enough de- cline in stocks now to turn the minds of investors to bonds, but with consid- erably higher money rates in the im- mediate fiture, it is too early to expect hing like a broad institutional or public demand for them. While there were rallies in the first Liberty 3'5s and first 41s, as well asin | the 4 and the 4'; per cent Treasury certificates, the fourth Liberty 414s, the most active of this group, dropped to a new low price for the year. Early next Week announcement is expected of the terms at which the June 15 Govern- ment financing will be effected. Seaboard Air Line adjustments ad- vanced about a point, but the consoli~ dation 6s declined 2 points, In the proposed plan for retiring the adjustments, holders would obtain $500 principal amount in the first 6s worth today $375, and 15 shares of common stock valued at $225 on the basis of the present common. They gave up their claim to the 20 per cent accumulation of back interest on the adjustments. ‘This plan, if agreed to by the adjust- ment bond holders, would relleve the company of the embarrassment of hav- ing to ‘pay interest on a contingent | liability whenever it had a good year instead of applying the same amount of money to the upbullding of the property. Foreign issues were heavy. German 7s broke through 105 and the Central Bank for Agriculture 6s went off a point to nearly an 8 per cent basis. A new Jow was made for Australian 5s. French 5158 lost all the ground they have made in the past two months. Italians, Japanese and South American issues were generally soft. —_— Elected Railroad Directors. NEW YORK, May 28.—Otto H. Kahn and Mortimer L. Schiff of Kuhn, Loeb & Co. have been elected directors of the Los Angeles & Salt Lake Railrdad. Bordeaux 6s. . Brazil 648 1926 Brasil 6148 1927 Brazil 7s. Brazil$s....... Bremen State Cunada 68 1963. Canada 6%s 1929, Con Pow Japan 7s. Copenhagen 4 %853 16 Copenhagen bsct.. 12 Fiat 78 x war 46... Finiand 6%s. Finland 7 Frameric German Bank 6s ‘3§ Ger Gen Elec 7 Greek 65 1968, Haitt o4 Holland-Amer 63 Hungary 7% Mexico 55 asntd. Milan 6%s. Montevideo 7 » They succeed Robert H. Grant of Salt Lake City and Robert W. Goelet. o A Washington Stock Exchange SALES. Capital Traction Co.—2 at 94%. Potomac Electric 6% pfd.—5 at 112%. Potomac Electric 5!2% pfd.—5 at 105, 5 at 105. ‘ashington Gas Light—10 at 110%, 10 at 110, 10 at 111, 10 at 111%, 10 at 112, 10 at 113. W;ghhww" n Rwy. & Elec. pfd—25 at Vs Liberty National Bank—10 at 245. Union Trust Co.—10 at 335. 1d.—10 at 105%%. —10 at 576, 5 at Merchants’ Transfer & Storage com.—2 at 12314, Mergenthaler Linotype—10 at 10812, 10 | gpy, at 1062, 10 at 1061, 20 at 1063%. Natlonal Mtge. & Inv. pfd.—100 at 4 20 at 47, 64 at 4%, 40 at 4 AFTER CALL. ‘Washington Gas 65 “B"—$200 at 103. Real Estate Mtge. & Guar. pfd.—80 at Tig. ‘ashington Gas 6s “A"—$100 at 1023, $1,000 at 10215, Federal-American Co. pfd.—10 at 997;. Collgnlihh ‘Title Insurance Co.—43 at Potomac Electric 6% pfd—1 at 112%. Union Trust Co.—11 at 33f Security Storage Co.—100 at 120. Washington Gas 55—$1,000 at 99%5. Lanston Monotype—10 at 128%. Commercial National Bank—50 at 260. Mergenthaler Linotype—30 at 106%. Bid and Asked Prices. BONDS. PUBLIC UTILITY. |\ Amer. Tel. & Telg: i Am 1, & Tel Am; Tel & Tel <t ington Gas 5s. Wash. Gas 65, Series A’ Wash. Gus 6s. series B Wash. Rwy. & Elec. 45. MISCELLA! & Ross, Inc. STOCKS. PUBLIC UTILITY. er. Tel. & Telgt . Steamb Potomac Elec 6% pfd. ... m lec. Bi3% pid . & Elec. com ec. pfd Liberty . ineoin Natfonal ‘Metropolitan’ of Wa : TRUST COMPANY. American Security & Trust Co Continental Trust Co........ Merchants’ Bank. .. National Savings & Trist, Rions et 5o vashington Loan & Trisili 1l SAVINGS BANK. Bank of Bethesda. .. ond National s ‘Washinglon: Mechani a2 FIRE INSURANCE. American cor: Columbia_ Title Inv. Co. of Md. com. .. asnECons. Toile DId..corrii: MISCELLANEOUS, ber & Ross. Inc.. com E;EVY Chase Dairy pfd. Col. 8 ‘LN(}{Ihvrl pid : O Paper Mg Co.. ist. Natl. Securities pfd.. eder: nston . Trans. Merch. Trans. & Stor. Mergenthaler Linotype.. Natl. Mtge. & Inv. pid Peoples Drug Stores pfd o Real Est. Mtge. & Guar. prd.... Security ' Btorage E H 0 EET TR TOPISTSPN - TS CaGne n 88 1 Rio GrDo Sol 65 4! o erane mNNCo=~ea San Paulo City Sao Paulo 1950, Sazon (PW) 17s. Serbs Cr Slav 7 Serbs Crot Slo Utd Kingm 6%s837 Utd SteamCopen 6 9% 93% MISCELLANEOUS. Abram&Straus $%a 11 igz» ioavg e Alleghany 53 Am Chain 6s°33. o 12 Am T&T cv 4%539.492 Am T & T el tr b 27 AmT&Ts16 Am Tel & Tel 638, Am Water Wks bs. Anaconda 1st §i Anaconda cv db 7s. Armour&Cod¥%s 3! Atlantic Refin Bell Te! P: Tel Pa Certain-Td5 %srcts Chile Copper . Colon Oi1 6s'38.... Col Gas&E] deb bs. . Com Invest 5%8 ‘49 Com Invest 63 °48.. Con Coal Md 1st 58. Duquesne 4% s 67. East Cuba Sug 1%8. Fisk Rubber Gen Asphait 653 {1linots Bell 1st b8 {llinois Steel 4348, . Indiana Steel 6 13 Inland Stl 4%8°78.. 16 Int] Cement 68 48... Intl Match b8 47. . Int Mer Marine Int Paper b5 47 Inter Paper 6 Int Tel&Teleg 4%8. 5 Iat Tel&Tel 4343 cv 180 Ligget&Myerssssl. Loew’s Inc & e b Loew's 6s w 0 war.; 18 Lorillatd 6%8..... 2 Loulsv G & E 68 62, 32 ManatiSug st T%s.. 7 Midvale Steel bs. 3 Ter. Ref. & Whr. ‘Corp." Nor Ohio Tr & L 6: Nor States Pow b8 984 Nor States Pow 68 104 104 _ ‘THE EVENING STAR, WASHINGTON, D, (.. TUESDAY. MAY 28 19 Pacific Gas & E1 PacT & T I8t b1 Pan-Amer Pe People s Gas bs. | Phila Co5s 6 Philips Petro 6% Postal Tel & C Pressd Steel Car Sinclair Ol Sinclair Ofl Sinclair O1l | Sinclair Crud Sin Pipe Line 5s. Skelly Ol 6348, So Por Rico Sug Southwest Bell 6 SugarEstOriente’ ‘Tenn Copper TennElecFow 68 United Dru U S Rub 1strf US Rub 7%s U S Steel s f 58 Utah Pow & Lt Utllities Powr & Vertientes Sug 7; W Westn Union 61 At & Birm 4s 33, At&SF cvi 48 05, Atchison ad) 4s. Atchison gen Atch deb 4%4s 48 Atlantic CL 43%s B&0Gold 4s Buff R& Pitt 4% Can Nat 4%s30. 'an 4% 57 Canada Natlé %! Canad Pac deb Can Pac 4% 4! Central P Ches & O gn 448 Ches & O 44893 Chi & Alton 3% Chi & NW gen 4s Chi & NW r¢ Chi& NW 6%s, Chi& NW 74 Chi Rys 68. ChiR1&Prf4 ChiTH&SE b ChiT H ine Den & Rio G cn D Rio G West b DRG & Wst b: Erie Gen 4s Erie cv 5567 Erle conv ext 78 Fla Bast C 58 74. Great North 6% Great Nor gen 7, Green B & W del Hud & Mari a] 5i 111 Cent ret 4s. ent 4%s 66 1 Phila & Read 6s 49 19; Public Service 4 3! Rem Rnd 6%s war, Stand O1l N J 68 46. Stand ONIN Y 4% 41, Tenn Cop 6s B'44.. Transcontl O11 6%8 58 63 14 | Chi R1 & Pac 4%s. ChiStPM&O 68 '30. Sales. 6s.. 12 Paramount 68 1947 10 Pathe Exchange 1s. 10 . 4 5 3 8 » & cchelan ~SRa-Saxtaran=t ek 41 “» ner Sug 75 41.. White Eagle O 5%8 Wiison & Co 18t 6s. Youngstn S & T 5s. RAILROAD. AtlanticC Licl 4s. . 4 9 Bkiyn Un EI 55 sta. Cent Fac 18t 68 0., 8 A . Chi B&Q gen 43 63.. CB&Q4%s77B.. : 76 CMSP&Pacadj6s03.139 .2 Chi NW 4348 2037,, 11 [1 1 . 25 - T T T ORI S ST STS PR Sy SISOy 4 <3 78. Fonda J&G 4%s'52. Hud & Manref §s.. [11-C-C-StL&NO 5s. 10 Int Rapid Tran 5s..143 Int Rap T'r 68 stpd.. 66 Int Rapid Tran Int Kap Trans 7s. Int Gt Nor 58 195 Int & G Nor 1st 6 Int&GENor ad) 63 63 IntRysCA 6372 Int Ry CA 6% Kan City Ft 8 4 Louls & Nash 7; Nassau El 48 51. Nortnern Pacific Ore Short L rfs & Ore Wash 1st 4 b Pennsyl con 4%s. Pepnsyl gen ¢%4s. .. Penna RR 4% 863, Pennsyl gen b Pennsyl 68 64.. Pennsy) 6%s. Pennsyl gold 7s. Port RL&P6s 432, Rio G West el St L IM&S ¢ 3! Int Ry CAm 6s 41.. LehiVgen 4%s 2008 Louis & Nash 6%s., N R M 4% '67 ass NOTex & Mbs B.. % Chi&StL b%sA.. YC&StL6sA.. Nor Pac 4%8 2047, Northern Pac 68 D. Nortnern Pac r16s. Ore Short L cn 58 o biel ct. AN AR AR On BNNEA® 34 Mo Pac 5%s"49 cvt 287 Mob&O 4128 77 cts.. 2 o RO SRR RNEae SLSORE—OTO S S h RS A diiss BONDS o v Received by Private Wire Direct to The Star Office High. Low. Close. 997 BERRY SHIPMENTS INLARGE VOLUME Spring Greens Receipts Are Also Heavy at D. C. Market Today. Home-grown strawberries and spflnn!land. recently, but was suffocated. greens were received in such immen: quantities this morning that the market | was fairly glutted. Splendid quality strawberries were offered during the; early morning hours at prices around $3 | and $3.50. but it soon became evident | dealers would experience difficulty | moving supplies and prices gradually dropped untit some were offered at $1.50 | before noon. | In addition to the home-grown | berries, dealers continued to_reccive shipments from the Eastern, Shore of Maryland, the North Caroliha season | for the fruit having closed several days | ago. It is deemed certain that the fruit | Wi pecome scarce before the first of next week, and dealers are urging| housewives to get in their supplies for canning and preserving the next few | days. i Blackberry Receipts. | Growers in the vicinity of Clinton. | N. C., sent large quantities of especially | attractive blackberries to the local | market for today’s trade, receipts being | largely in excess of demands. Market | opend this morning at 20 cents a; quart, but the fruit moved so slowly that dealers expected lower prices would pre- | vail before the close of the day's market. | Additional receipts of watermelons | and cantaloupes this morning attracted | attention of buyers, both fruits being of | exceptionally good quality. Because of | the plentiful supplies and cheap prices | of berries, however, the citrus fruits| were not so much in demand. Cali-| fornia cantaloupes, 3 dozen to the crate, | sold around $8 this morning. while the | Florida fruit was offcred at $3.50 and $4 Slightly decreased - prices were re- ported ‘in_the poultry market, while the egg market was a trifle easicr, and| warm_weather is expected to result in | slightly lower prices of eggs. Today's Wholesale Prices—Jobbers” Prices Slightly Higher. Butter—One-pound prints, 44a45; tub, 43a44; store packed, 30a31. Eggs—Hennery, 32a33; fresh selected, 31a32; current receipts, 30a31. Poultry—Alive: Turkeys, hens, 30a32; toms, 25a26; Spring chickens, small, 40a43; large, 45a46; Leghorns, 35; roosters, 20; ducks, 15a20; fowls, 33a3¢ keats, young, 60a65; old, 35a40. Dresse ‘Turkeys, 35a40; Spring chickens, 48a5: Leghorns, 40a45; fowls, 38a40: Le horns, 34a35; ducks, 32a33; keats, 80a | 1.00. . Meats, fresh killed—Beef, 22a24; veal, 23a26; lamb, 30a32; pork loins, 32a33; fresh hams, 26a27; fresh shoulders, 19a20; smoked hams, 27a28; smoked shoulders, 17a18; bacon, 26; lard, in| bulk, 12%;; in packages, 13'3. Live stock—Calves, 13a13!2;. Spring lambs, 15. 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: Cabbage—Supplies liberal; demand light, market dull; Norfolk section Vir- ia, 1l3-bushel hampers, pointed type, 75a85; barrel crates, pointed type, 1.25a1.50. 3nuloupes—suppli:s light; demand moderate, market steady; California, Imperial Valley, standards, 45s, salmon 458 and 54s, , 12s and 15s, Lettuce—Supplies moderate; demand light, market firm for good stock; Cali- fornia, crates, iceberg type, 4-5 dozen, best, $4.75a5.00; fair quality and con- dition, 3.00a4.00. Onions--Supplies moderate; demand light, market steady; Texas, standard crates, yellow Bermudas, mixed, No. 1 and No. 2, 1.85a1.90. Potatoes—Supplies of old stock mod- :rate; demand moderate, market steady; Michigan, 150-pound sacks, Russet Rurals, U. S. No. 1, 2.25a2.35; new stock: Supplies liberal; demand mod- erate, market weaker: South Carolina, cloth-top stave barrels, Cobblers, U. 8.+ ;lg. 1, 5.7526.00; some medium size, .50. Strawberries—Supplies heavy and not cleaned up; demand moderate, market weaker; nearby Maryland, East Shore, Maryland, and Delaware, 32-quart crates various varieties, wide range prices; best, 2.00a2.50; some small size, fair condition, 1.25a1.75. ‘Tomatoes—Supplies moderate; de- mand light, market firm for good stock; Florida, sixes, ripes and turning wrapped, best, fancy count, 4.00a4.25; choice count, 3.00a3,25; fair quality and condition, some decayed, fancy count, 2.50a3.50; choice count, 2.00a3.00; 216's, 1.50a2.25. TREASURY CERTIFICATES. (Reported by J. & W. A te—Maturity. Sellgman & Coder, June 15, 192 - 100 3 993 992 992 99 14-32 9925-32 96 95 30-32 95 30-32 SHORT-TERM SECURITIES. (Reported by J. & W. Sellsman & Co) offer. | Allis-Chalmers Co. 55 1937..... Aluminum Co. of Amer. 5s 1952 100 American Tel. & Telga. 4s 1929 Armour & Co. of Del. 5155 1943. Nat. Rwy. 4148 1 Canadian Nor. Rwy. 41 Chesa. & Ohio i icago Rock I Chile Copper Co. 55 194’ Cudahy Packing Co. 5'4s 193 Delaware & Hudson Ry. 7s 1930 Edison EL 11 . & R. 53 195 . Grand Truiik Canada 65 1936. . Guit Oul of 'Pa. B 1637 e 94 Oil Co. 55 1947 ... Sinclair Crude O}l 5':s 1938 Standard Oil N. Jegsey 55 1946. - L., Ir. Mt. & So. Ry. 45 1920 St. L\ Southwestern Ry. 4s 193: Swift'& Co. 55 1932.. .. ... ... Union Oil Co. of Calif.' 53 1935 United Drug’Co. o3 1953, . . 5 Wheeling Steel Corp. 5'as 19: Bombay, India, has been with a general strike. Sales. High. StL IM&S gn 6831, 3 Sou Pacific ref 4 Sou Pac 4% s reti Sou Pac 41386 ww Third Ave adj Tol Tr L&P 6%s 30 Unfon Pac 1st 4s. .. Union Pac st rf 4s. Virginia Ry 1st 5s. West Maryland 4s.. Western Pacific b West Shore 45 '61 in 1928 was valued at $522,645464, 53's. compared with $460,881.111 for 1927, ac- | cording to Department of Commerce - census of manufactures. tractors, which in 1928 were valued at | §191.878,125, against $159,530,521 in | London, pound 7. aris. franc . SILVER QUOTATIONS. NEW YORK, May 28 (.—Bar silv Mexican dollars, 40%;. Farming Machinery Sales. | Total producion of farm equipment | Co., chain_drug Co. of Denver. ‘The 1928 to- tal represents an increase of 134 per cent over 1927. Most important class of machinery from value standpoint was FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Selling checks value (orpar). today. $4.8565 193 | Secured by first deed of 348400 039012 9 Chain Drug Store Expands. NEW YORK, May 28 (#).—Walgreen- store company, | purchased 11 stores of the Sun Drug Money to Loan Prevailing interest and queph I. Weller {3, FTNANCIAL.™ Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Bepresenting Mutual Benelt Life Ins. Co. 1520 K Street Main 475 has trust on real estate. | commissi Harvesting mackinery produced in|B 1928 was valued at $67.292,509, against $57,319,243 in 1927. Number of estab-| lishments reporting in 1928 was 800, s g adrid, peseta. ... against 836 in 1927. Vienna. schilling.”... .. Budapest. penzo Prague, crown (nom.) . Warsaw, zloty......... Copenhagen, crown Oslo. crown 5 Stockholm, crown Rover, a sheep dog, barked the alarm at a factory fire in Hampstead, Eng- | SHIP "in Over Third = o'a dontirys AP Experience 1 Franklin 8783, THE IDEAL INVESTMENT Standard Collateral Trusteed Common Stock Shares A TRUSTEED OWNER- 100 * leading Amerlean Corporations: 2CRT" ve’ o - vour interest to investigate. Standard Collateral Shares Corp. e \ Unconditionally l_:e,/ GUARANTEED Liberal Yield and 8%, Preferred 300 Shares or Part Offered at $7 Per Share To Yield 113-79% Reported business increase 26% gross. and 44% net for first quarter 1929, over corre- sponding quarter 1928. —of experienced training and practical organization for the management of your property. Especially efficient in connection with Apart- ment House supervision. Thomas L. Hume Main 1346-4733 B. B, SAUE, EOL Complete Investment | . Service GreLeT & Co. BANKERS INVESTMENT BUILDING WASHINGTON, D.C. Telephone, Main 2460 Compound Safety Every 67 First Trust Note sold by ‘this company is proteted with these exact- ing standards of safety. Secured bya modern owner- occupicd home in the Met- ropolitan area of nearby Maryland. Principal and 6% interest unconditionally guavanteed by this strong company. Make these strict require- ments vour own investe ment standard, Booklet. mtifl"fiffi“"flc o Main 2100 925 15th St, 1412 G St. 4000 cOMMY T Cities Service Reports ~ the best year in its history Security-owners now total 450,000 E ANNUAL Report of Cities Service Company, just issued, shows 1928 to have been the most success-, ful year in the Company’s history. Large increases were madein assets, gross and net earnings, and the number of the organiza- tion'ssecurity- holders, who now aggregate more than 450,000. Ex- cess of current assets over current liabili- ties increased 26.75%, from $52,932,000to $67,094,000. Consolidated net earnings of the Company and its subsidiaries exceeded $64,000,- 000, equal to 9.34% on the total capitalization and funded debt. Total consolidated assets of this nation-wide public service organ- ization increased during the year from over $809,000,000 to more than $913,000,000. The Annual Report shows that in 1928 Cities Service petroleum subsidiaries produced about 20- 000,000 barrels of oil, a daily av- erage of over 54,000 barrels. Gas- olene, oil, and other petroleum products were marketed through its own distributing system in 4000 communi- ties. Public utility subsid- iaries sold over 93,600,- 000,000, cubic feet of natural and manufactured gas and 1,421,000,000 kilowatt hours of electrical energy. Last year more than 100,000 investors were : added to the security- holdersof the Cities Service organization. Its list of security-holders is now the second largest in the world and includes many trust companies, banks and other institutions, as well as individuals in every state and in 38 foreign countries. The Company’s Common stock- holders alone number more than 122,000, having increased from 70,000 a year ago. The number of owners of secur- ities of the Cities Service organi- zation has grown from 150,000 in 1923 t0 450,000, an increase of 200 per cent in six years. You participate in the success HENRY L. DOHERTY & COMPANY Southern Building @ ‘Washington, D. C. Branches in principal cities of the Cities Service organization when you invest in its securities. As a Cities Service security-owner you have the satisfaction of know- ing that you have invested your money in an organization which has grown steadily through its 18 years of existence—from a small General Statistics of Cities Service Co. and Subsidiaries for 1928 OIL AND REFINERIES Barrels of oil produced (domestic) 19,921,350 Number of oil wells ownedo 5,375 Miles of ol pipelines 123§ Daily refining cap. (bbls. of crude oil) 39,000 Oil storage capacity in barrels____21,110,000 Number of tank cars owned and leased__3,032 Communities served by distrib. stations__4,058 Marine equipment capacity (bbls. 774,500 MANUFACTURED AND NATURAL GAS Sales in cubic feet_______ 93,622,345,000 Number of gas wélls owned 1,698 Miles of gas mains owned 11,236 Casinghead gasolene prod. (gals.)— 68,854,495 Population served 2,896,000 ELECTRIC PROPERTIES Kilowatt-hours sold 1,421,670,000 Kilowatts installed capacity. 534,880 Population served 1,850,000 beginning in 1910 to its present commanding place among the ten largest industrial enterprises in America. Clip and ;lail this coupon Henry L. Doherty & Co., 60 {3 iliniton" b "¢, Please send me, without obligation, a copy of the 19th Annual Report of Cities Service Company and full information about its in- vestment securities.