Evening Star Newspaper, June 3, 1929, Page 15

PREPANCTON . pINANCIAL. Loans on Autos Legal Interest Our Only Charg: Quick Service—Confidential UNITED LOAN CO. Rosslyn, Vir M seresy Key Brid Money to Loan first doed a -'E‘".‘.“ o i m" Bids.. 9t Soenred Pre J Guaranteed 6% First Mortgage INVESTMENT BOND LIST SCORES GAIN Success of Reparations Con- ference and Credit Re- lief Aids Market. BY CHARLES F. SPEARE. Bpecial Dispateh to The Star. A YORK, June 3.—There were; THE eceived by “Private Wire TATI 3 UNITID l by 98 28 20 9820 1 968 986 25 1007 1007 56 1086 10356 23 1067 10686 FOREIGN. mn High. Low. Close 90% 90% 904 9814 98% 1007 1085 1087 ON NEV YORK BONDSW EVENING STAR, WASHINGTON, Direct to The Ster “The Star Ofice h. Lew. Close. % Toe 100 Goa 1 97w 97 T 12 Publie Bervie lul RemingtonAr 68 32. Singclatr Ol 63, Sinelair Ofl Sinelatr Ol 1 Rinela 8in Pipe Line Skelly O1) 8 * Southwest Stand O1I N J (T Stand OUN Y 4%, ‘Tenn Cop 68 B '44. . | TennElecPow 68 47 | Transcontl Ofl 6% s United Drug 68 6 29 294 1014 94 28N 93 101% 10044 % 100% 103% 994 4% 29 mm D_C, DECLARES STOCKS DECLINE IS NEEDED By the Associated Press. NEW YORK, June 3.—An orderly de- cline in stock prices which will release | credit now tied up in securities is “just | what is needed to clear the money situ- ation,” says the monthly business re- view issued by the National City Bank of New York. “Tt will temper the speculative spirit which has spread throughout the coun- try to an unwholesome extent,” su! “reduce the amount of in- diseriminate buying and tend to lower in some degree the prices which in many instances represent extravagant anticipation of future earnings. It will not take any real value out of stocks, aaserts | MONDAY, JUNE 3, 18290, simple 1t is that of the m‘ net ’muflu nn‘m enough te supply the ae at tho nu at which cr xc upnnum hi n going on in recent years. The V.u! conversion of property from pri- rpcrm ownership, the wide diffusion of corperate shares and finally the development of speculative interest {on an unparaligled scale, have caused a demand for bank credit beyond the c-mmy of the banks to supply.” CHICAGO DAIRY MARKET. CHICAGO, June 3 (#).—Butter un- changed; receipts, 10,676 tubs: cream- ery, extras, 4215; rds. 4215; extra ; seconds. 35,558 ;' ordinary firsta, packed firsts, 30%; extras, 3114 FINANCIAC. Dlu\fl 1 barre! 5. Hll 50; old stock fair tullu market Travelers’ Checks & Letters of Credit Metropolitan 15 B nk 115 \e-n Inquire How Our Trust Department —can further promote the " - ' -l enjoyment of your vac 310 1822 uitry, alive, l!lld¥ m:nlpu leln. rices unchanged owls, 828 20; mll! d roilers, 40; 3 ducks, ofll lprml ducks, tion, by relieving your mind as to the care of in- vestments, payment of fixed charges and collec- tion of income. Our Trust Officer will be glad to go into details without obligdtion on your part. Oldest National Bank in District of Columbia and the prosperity of the country, which is the b‘l’l!\’l p:l last of all stock prices, [ ill be made more secure. w"n has taken & long time for the 15. stock market to learn that credit ex-| pansion, in so far as the banks are concerned, was up inst an obstacle | ii'am chiiatt| POTATO MARKET FIRM. T ol muid be, oo | CHICAGO, June 3 (@) (United States much to say that the lesson is fully | Department of Agriculture).—Potatoes— ) b‘"p JApparently there 1s & Mg | Receipts, new, 78; old, 62 cars; on track, fenere ok new, 112; old, 232 cars; total U. 8. le bank credit v :‘han;:n ::“t e shipments Baturday, 924; Bunday, 28 “It would b? wfll 1f the fundamental | cars; new stock tradin loou on nuh. reason for tight money could be more (fair on barrels, marke on sacks, generally understood. uced slightly easier on barrels. Alabama NEW two favorable departments in the invest- ment situation today which had a pro- nounced effect on bond prices and may result in & permanent improvement in bond values. One was the winding up of the reparations conference, which has| ehecked the liquidation in foreign issues | for the past month. The other was evi- dence that the acute stages of the credit stringency have passed, giving domestic bonds a chance to recover | from the series of blows they have had since January. Situation Is Promising. It is quite probable that the Govern- ment may now be able to finance its H June 15 requirements on at least & § per cent basis, with the possibility that | even a 43 per cent short term note will be acceptable to the market when it is offered later in the month. ‘The effect of the improved ecredit situation has been to withdraw offerings both of long term and short term ma- turities from the market and to bring | Chi in bids from quarters that have not been willing to make investments since the flurry of last April. Altogether the bond situation teday is more prom- m% than it has been in months. German group was direetly benefited by the final agreement reach- ed in Paris on debt payments. German 7¢ rallled nearly a point. Central Bank for Amcnlture 78 and 6s were up from 114 to 24 points, with the latter nearly 6 points above last week's low. Various German mumc nl public utility and industrial scored substantial gains. The Franch and Belgian issues were also strong, but did not rally so | much as Germans, for they had de- clined less durln,ruu- liquidating period, . Italjans gained fractionally. There was | some improvement in South Americans | following last week's heavy breaks in Bolivian, Brazilian, Columbian, Peruvian | and Chilean descriptions. High-grade railroad and public utility vcre in fair demand at gai to a point over Bnurdl closing. en llrgrr advances made in the secondary mortgages lnq adjustmente, such as those of the 8t. Paul, Erie, Frisco, Missouri Pacific and Rock Island. Convertible List. Convertible bonds reflected the auflen- ing of stock prices. The 1 was that in erican Telaphnno and Tel aph 4168, which were up nearly ts. Third Avenue 4s gained 114 po ts and Certainteed Products the same. The latter have rallied to wl'.hln a fraction of their high of the | after the long decline, whleh Carvied them down from 82 to 68. Interna- tional Plrer aum dropped 1% points | to & new low record. N Washington Stock Exchange SALES. Chesapeake & Potomac Tel. 55—8$1,000 at 9914, $2,000 at 99%%. Capital Traction 5s—$1,000 at B'IL wuhtnm Gas 55—$1,000 at 1 ashington Gas 6s “B"—$300 n 102%, 'MO at 103%. Washington Rwy. & Elec. 45—$5,000 at 8615, Polugm:c Electric 5% % pfd.—8 at 1047, 8 Wllhln!wn Gas Light—8 at 115, 5 at :flngwt v o Bt 18 63 e ens at 9535, 10 at 95%4, 10 at 951, Commercial National Bank—12 at 260, | Serbs Cr Federal-American Co. pfd.—$5 at 101. Lanston Monotype—2 at 130, 20 at 130, 10 at 130, 5 at 130. Merchants’ Tnmter & Btorage com. at 124, 5 at 1 Notes 1024 101% Secured on Income- 1004 Producing Properties in the District of Columbia and Nearby Maryland 1004 1 Youngstn 8 & T bs. 13 RAILROAD. Atchisonadj 4s.... 1 87 Atohison Atch deb ¢ 48 B &0 Gold District National Securities Corp. Suite 303-307 Telephone Main 2994 Distriet National Bank Building 15th St. opp. U. S. Treasury THE IDEAL INVESTMENT Standard Collateral Trusteed Common Stock Shares STEED OWNER: in 100 leldlnl imerican Corporations. il be to yaur interest to IB" Standard Cullnonl Sln Franklin 8783 IDLE MONEY IS WASTE It is a sound economic prin- cipal to keep money employed —where it is safe—but at work. The ideal investment—be- cause there is no chance of loss and the return is both generous and sure—is in our 69, FIRST MORTGAGES Bklyn Un El 58 Bush Term con Can Nat 4148 67. Canada Natl4% Canaa Pac deb ¢s.. Can Pac 4348 46. Canad North 7s. Car Clinch&0 6s 63. Central Paciflc 48., Cent Fac 1at 68 90., Ches & O Corpn § Ches & Ocv4i4s... Ches & O gn 4148, .. Ches & O 4148 93 A Chi & Alton 3148.., th Ba&g gen 45 53, Looking to the Future In Borrowing from Us on Real 19 Danish Munic 85 A. Estate You Are Assured Denmark 448 Denmark §% Long Term Low Interest Rates We Buy and Sell No Commission Charges Liberty Bonds Treasury Notes Etc. Bond Department h1&E 111 gn 63 5 Chi Gt West Chi M&SIP 4%s B, ChiMiISP&Pac6s?s MSP&Pacadjss0s 4%8 2037, Chi& NW 1 Over a Third of a 113 Consult EAVER B REAL’I‘OR%OS 809—15th St. N.W. Main 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company 90 106% . . 90 Our conservative appraise- ment upon which the loan was made is your protection. Century Without a Loss May be bought in amounts from $250 up. B. F. SAUL CO. Main 2100 925 15th St. NW. Chi Union Sta bs 44 Clev Term bs Clev Term 534s. Cuba R R bs. Cuba Nor 5% ct: Del & Hud 78 30.... Den & Rio G en D Rio G West & Erie 151 cons 48, +s» Erie Gen 43 Eriecv 5867 Erle conv ext 7 Erie (Pa) elt tr 4 Fla East C 58 74. Ga & Ala 1st Gr Trunk stdb Great North 6%s. Great Nor gen 7, Hav El Ry = izw01d - The Washington Loan and Trust Company onon [PYCPRTSTPPPTCTON ~T PP TORIIEE o N TP S =ty 900 F Street 620 17th Street THERE IS NO SUBSTITUTE FOR SAFETY - "ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St & La Ave NW. 62nd Issue 6f Stock Now Opes for Subscription Properties Behind Smith Offerings No. 5, “Our Home Life Building” (Formerly Verivc Strong First Mortgage Security For Investors 1) - Int&GtNor ad) Int & G Nor 1st Money Loaned to Members on Easy Monthly l’lymenn b 1 %2 e (R AL Int Ry CA 6%sret. Kan City Ft 8§ Kansas City 8 Kansas City 8 Kan City Term 4s.. Lake Shore 48 31 LehiVg 3 Louls&Ni Man Ry 18t 4 MILEI Ry & L Minn & StL r Minn&StL fd Flrst Mortn[o Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. ergenthaler Linotype—16 at 106%%, 2 at 10835, 8 at 108%, 10 at 106 Mtge. & Investment pf % MX Estate Mtg. guar. pfd.—100 at 71% AFTER CALL. Capital Traction Co.—10 at 9 ufl;’l:::l‘l/llef Llnotype—~lo lt 106%, 10 a Potomac Eleetric 515 % pM ~—10 at 105. | Capital Traction 5s—8$500 at 97%, $1.000 at 97%. Lanston Monotype—20 at 120%. ‘Washington Rwy. & Electric pfd.— 40 at 9513, 10 at 9514, 1.at 9514, Riggs National Bank—5 at 576. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Telga. 4% Amn Tel. & Telga. ¢ Am. Tel. & Tel. ctl. tr. Anacostia & Pot. R. R. Ann Pot. lhlr 88 Tel!p one Ss. City & Buburban eorllmwn Olt 1st 88 - SolulnmonomeBhua mmmwe8 “Our Home Life Building” (formerly the Ver- mont Building), located at the northeast corner of Vermont Avenue and L Street, N. W,, is 2 modern eleven-stary fireproof office building. It constitutes strong security for a $350,000 issue of 7% First Mortgage Coupon Bonds offered by The F. H. Smith Company in 1924. Interest on these bonds has been paid regularly every six months when due and $42,000 of the bonds have matured and have been paid off. The balance of this issue now outstanding is $308,000. I Yokohama MISCELLANEOUS. Abram&Straus §3%s l-’! 108% 102 9974 99% 1001 104% 87 lOu‘a Lel us have your applications LOANS ON REAL EST, Mob&0 4%s 77 ets.. N Y Cen gen 3348, N ¥ Cent di N ¥ Cent 48 NYCrfim4 NYCentrt AmAgriChem 1%s. 1 Am Beet Sug 6s°35. 1 Am Chem ly,"v 0151 Our record of 35 years speaks for itself. Percy H. Russell Co. 1731 K St. NW. AnBmit& R 13t 6 Am Sugar Ref 6s... AmT&Teltr 99% Am T&T cv 4%€39.] |n=!’n 54 AmT&Tecltr 1027 AmT&Ts!bs. Am Tel & Tel 63 —aA RO O N ¥ CentLScl 3%s. NYChi&StL b%sA. NYCa&StLésA.. New Haven 3%4s 56, NYNH&H % NY NH&H cv db NY NH&H cit 63 N Y Rys6s65. NYWaB4% Norfolk & W cn Bid. Asked. 98’4 Am Wrtg Pap 6547 Anaconds 1st MONEY TO LOAN Value of Property DISTRICT OF COLUMBIA : REAL ESTATE An appraisement of this property made for Mr. Clifford R. Allen, President of National Realty & Securities Company, Inc. (which is the present owner of the property), in December, 1927, by C. W. Simpson, of C. W. Simpson Company, Inc., Realtors of Washington, D. C., states the value of “Our Home Life Building” to be about $850,000, indicating a wide margin of security for the first mortgage bondholders. The appraisal is as follows: Atlantic Refin § Bell Tel Pabs B, Bell Tel Pa 68 C. Bethlehm Stl pm Beth Steel rf 63.... Beth Steel 53%s 63.. NO COMMISSIQNS OR RENEWALS COLUMBIA PERMANENT BUILDING ASSOCIATION 83 12t Street N.W. n 352-353 Pennsyl gold Y08 [PCC&SiLos 20y, | Portiand El P 95 |Port RL&PS 95 Reading gen ¢ 98% 9314 |R1ATk & L 4348, 93 |StL IM&S gn sa3: 60%% |5t L 1M&S R&G 4s.. 104% ISt L& SFplasA.. 101% | 5t L& 8 Fr4%4s 78. 100% | S¢ 1, & 8 F pr in 6s. St LS W st ds, St LS W econ SLL & Sown 68 '53. SUP & KCShL 4%8. .| St P Un Dep |San A & Ara P (' Eold“Storss Cons. Title Co. 68 STOCKS. PUBLIC UTILITY. Amer. Tel. & Tels Capital Tract Consumers Pow Cuban Am Bug o - 1 oSS e anRe BRen - e Complete | Investment Service “OUR HOME LIFE BUILDING” (Formerly the Vermont Building) VERMONT AVENUE AND L 8T. N. W. Duquesne 4 ‘WASHINGTON, D. C. Fisk Rubber Gen Cabl . n-;. & Elec pfd.. . MATIONAL BAN) National Castta Columbia 4] have been asked to appraise Lots 801 and 802 in !qul' 15* im, Building, u‘r’-d in reply have to say that 1 engaged in the lar".d Estate city for a great many years and am hm-li-r with GreeeT & Co. BANKERS INVESTMENT BUILDING WASHINGTON, D.C. Rlepbone, Main 1460 improving nel[hborhocd, is a cormer, and its ably with the finest buildings in your city. “My office is located diagonally acros: priee that I have put on this property I have consid the neighborhood. the street from this building, snd Al ot o sy i -y truly yours, 7 TV SIMPSON” American lu#'rlty & Tr Centinental gm. ;m Onion Washingten Lot BAVINGS BANK. Bank of Bethesda mmerce & Bavini TexArk F'S 5%s 80. | Tex & Pac ba s 1971 Tex & Pac 5s C'79.. Thira Ave ref 4s 60, Third Ave sd)j Union Pac 1st 48 Union Pacific 4 * Now known as Lot 806 in Square 215. 6% NOTES Secured by First Mortgages What better security for an investment can be found than real estate—land chosen with a view to future as well as present values ... buildings that are erected in response to a known rental demand? » Tue F. H. SMiTH COMPANY Investment Securities — Founded 1573 SMITH BUILDING (815 15th Street) WASHINGTON, D. C. Branch Offices in Other Citios reme National Un n. t West Shore 45 '61.. Wilks B & E 1st 8s. Telephone Revenu 1081 BALTIMORE, June 3 (Speclal).— 110% | Net telephone revenues of the Chesa- 100% | peake & Potomac Telephone Co. of 991, | Baltimore City decreased in April, 1004 | totaling $231,183 compared, with $248,- ;gg“ 460 for the corresponding 1928 month, 10414 | according to a report flled with the 98 Public Bervice Commission. th International 2 107 cultial” Gongrase will be Bald this Yoar* 2 2% nu om Inmm,w col mbia Ti 'Jm%:u:'.v.‘ Ro e Chevy Cl ?'- { Gal inn’ om . Safe—Conservative 3 65 42 Years' Experience Make your savings and surplus funds work for you at the highest-inter- in tin ine est Tate consistent homes 4 with abeolute ssle of thess se- safety, curities. Dist. Nor Ohio Tr & L 68. Nor Ststes Pow 88, Pacifc Gas & K1 3, | Pan-Amar Pete 7s. 3% | Paramountdy 1941, 47 n 1% | @ 13 9 Wm. H. Saunders Co., Inc. REALTORS Main 1016 1433 K f 0T i Postal Tel &Cbie, WOO:MG‘“W'{‘ y ~