Evening Star Newspaper, June 18, 1929, Page 14

INTERNATIONAL PAPER COMPANY. New York, June 12i ‘The Board of tors have regular quarterly cent (13%) on t referred Stock of this Company, dividend of -on lar quarterly and a and one-half per cent (115%) on the Cumi Intive 6% Preferred Stock of this Col for the current quarter, pavable 1 holders of record at the business June 25th. 1929, Checks to be mot close. OWEN SHEPHERD. Vice President and Treasurer. F. H. SMITH COMPANY STOCKS & BONDS BOUGHT & SOLD MEHLMAN & COMPANY Woodward Bldg. Ph. Main 317 Money to Loan & intere: and 1. Welle: 'MONEY TO LOAN On District of Columbia Real Estate CURRENT RATES OF INTEREST FLOYD E. DAVIS CO. 733 12th St. N.W.In 352-353 The Commercial National Bank Pays interest on DAILY BAL- ANCES on Savings Accounts. Interests from DAY of deposit and is earned to DAY of withdrawal. Come in and let us explain. Resources Over $19,000,000. 14th & G Streets R. GOLDEN DONALDSON, President At Low Interest Rates Tyler & Rutherford Repr:senting Mutual Benefit Lif Ce. 1520 K Street Main 475 Subscriptions for Stock Now Being Received The Montgomery County Building Association 6972 Wis. Ave., Bethesda, Md. Phone Wis. 4132 Organized Under the Laws of the State of Maryland A New Community Organization This association extends to you the opportunity for reahz- - ing an earning power for your savings. Not mere rental, but the highest return consistent with SAFETY and good man- agement. Full Particulars Upon Request CompLETE FINANCING Ist & 2d TRUST MONEY es, apartment buildings and business ies. No appraisal & Guaranty Corp. 24 Jackson Place Main 1403 Consult Us First If you need money for your Real Estate financing let us have your application today. Prompt Service No Appraisal Fee The Commercial National Company Incorporated Pald wp Cash Capital. $900,000 Commerelal National 1ith and . Mortgage Loans STORY & CO. 812 17th St. Met. 4100 Continental Trust Co. 14th and H Streets Capital, $1,000,000.00 Checking Accounts Savings Accounts Acceptance Credits Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Cheques Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets WADE H. COOPER, President Capital, $1,000,000.00 Shipments ith, 1959. declared 3 - July st close’ of mailed. Transfer books will BONDS SHOW GAINS IN'BETTER BLYING Market Displays Firmer Un- dertone on Favorable Credit Devel_opments. BY CHARLES F. SPEARE. Special Dispatch to The Star. gold being engaged in London for im- mediate shipment to this country and | several investment houses making quite | | optimistic statements on the _earl; course of the market, bonds had a| good background today for improving | their position. Confidence in Market. The action of the domestic and for- eign lists suggested that there was a' somewhat more confident feeling on | the part of buyers, though this was e pressed in an absence of selling, rather than in an increase in buying order It is the slowest second half of June, from the standpoint of distribution ¢ bonds, within the memory of the pres ent active generation of dealer vestments. Opportunities were offered to those | who were looking for them in a half | dozen new issues today representing | about $67,000,000 of corporation ‘.ind‘ municipal obligations. The Toho Elec- tric three-year 6 per cent notes were | sold at 9614, or 2'; points under the figure at which the old issue was dis- | tributed in July, 1926. These notes | were listed today and sold at one quar- ter per cent premium. This is the first foreign issue in_ several months, with most of it for refunding purposes The largest offering was that of the Canadian National Railway Co., whose 5 per cent bonds, guaranteed as to prin- cipal and interest by the Dominion of Canada, were sold slightly under par. Tax-exempt isues by the States of Ii- linols and Mississippi and by the City of Baltimore aggregated over $15,000,- 000. In each case the price reflected the change in the municipal market within the last few months. United States Government issues were strong. The new 5 per cent ceriifi- cates were quoted’ at a premtun of about a quarter. Legal railroad bonds and public utilities were fractionally higher in a narrow market. So were various junior issues. Foreign Group. In the industrial list the feature was an advance of 3 points in Gotham | Silk Hosiery 6s. French, German, Japanese, Scandi- | navian, Ttalian and several South American_government,_issues exhibited | a fair degree of strength. Washington Stock Exchange SALES. City & Suburban 55—$1,000 at 91. Potomdc Elec. Coh. 55—$1,000 at 100%, $1,000 at 101. Washington Gas 55—$3,500 at 991%. ‘Washington Gas 8s “A"—$200 at 102. Capital Traction Co.—10 at 92%, 10 at .92, 2 at 92, 9 at 925,10 at 921, Potomac Electric 6% pfd.—5 at 111%. Potomac Elec. 51;% pfd.—10 at 1067, , 25 at 106%, 10 at 1063, Chevy Chase Dairy pfd.—10 at 106. Federal-American Co. com.—10 at 47, Federal-American Co. pfd.—20 at 101. Mergenthaler Linotype—10 at 1043, 6 at 104%. 2 at 1043}, National Mtge. & Inv. pfd.—100 at 41;. lu_;; Estate Mtge. & Guar. pfd.—40 at a. AFTER CALL. Washington Gas 6s “A"—$5,000 at 1023, $1,000 at 102 District National Bank—6 at 236. ‘Washington Con. Title 6s—$1,000 at 98. Capital Traction 55—$2,000 at 98. Mergenthaler Linotype—20 at 105. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid. Asked. Amer. Tel. & Telga. 4 » - C. & P. Tel. of Va. Capital Traction R. City & Suburban 5s.. t 1st s cons. . 68 1953, & Mt. Vernon ctf, & Annap. 5s. Rwy. & Elec. 45, ..0.0] MISCELLANEOUS. Barber & Ross, Inc. 615 Cham.-Vanblt. 'Hotel 6 Chestiut Farms Dairy 6 Chevy Chase Club 5%as. D. C. Paper Mfg. 6s... ' 1d. Bk. 55’ Wash. Mkt. Cold Storage b o) Wash, Cons. Title Co. 6s.. STOCKS. PUBLIC UTILITY. Amer. Tel. & Telga Potomac Elec Rwy. & Elec. com Rwy. & Elec. pfd NATIONAL BANK. National Capital . Jolumbla . al c v Federal-American Liberty . 5 Cincoln National P Second HE Lok Natlonal Bank “of Washington TRUST COMPANY. American Security & Trust Co. Continental Trust......... ante Bank. .l National savings & Trust: Thion “Trust.. oo - Washington Losn & ‘Frist SAVING BANK. Bank of Bethesda ; Sommerce & Savings East. Washington Potomae Schnity sa Tmitea srates. Washihston Mechanics’ .0 ! FIRE INSURANCE. ropolitan & 'Gomi. Bank. American Corcoran ... Firemen's " National Union...."". . TITLE INSU Columbia_Title o Beal "Estate’ Title. 0000t V. Co. Hash dons. Tue pra-. MISCELLANEOUS. ber & Ross, Inc.. com.. Ehevy Chase Dairy pid Gor.'Band & Gravel pfd.111 Commercial Natlodal Co. pid Mfg. I . P“"secum"u pid. . Tansion Monotype anston Moy et Merehants Trans, & Storage: Merch. Trans. & Storage pld Mergenthaler Linotyps g Natl, Mige. & inv. pfd..".\0 Peoples Drug Stores pfd.. Rea) Est. Mtge. & Guar. pid. .. Obtains Exclusive Contract. BALTIMORE, June 18 (Special).— The Commercial Credit Co., with head- quarters in Baltimore, has secured an exclusive contract with the Silversmiths Guild of America for the financing of | sale of sterling and plate silver on a deferred-payment basis through over 2,800 jewelers in the United States. gt w TIRE PRODUCTION. NEW YORK, June 18.—April pro- duction by United States tire manufac- turers amounted to 7,883,805 pneumatic casings, compared with 17,519,235 in March and 6,177,744 in April, 1928. in April amounted to’7,204,- against 6,708,135 in March and April, 1928, 370, as 5,811,775 in NEW YORK, June 18—With call| money holding at 7 per cent, $7,000,000 | THE EVENING [ovee e BONDS o] BANKERS ADVISED |t 7 e 5. Received by Private Wire Direct to The Star Office (Sales are in $1,000.) Sales. High. Lot Lib 3%s. 25 9617 96 Lib1st4ls 114 9823 98 Lib sth 43 124 997 99 US3%s47. 1 9614 96 US4s1944. 26 10331 103 US4ysb2. 1% 10630 106 FOREIGN. Sales. High. Argentine 5s E Argentine 65 Argentine May Acrgeniine 6s Uct 69 Argentine 5%s '62. Argentine 6s A.... Argentine 6s B Australia 4%s 66.. b8 1956 68 1957.. Austria 7 Bank of Chile 6% Bunk of Chile 6% 8. Belgium 6s Belgium 6%s. Eelgium 7s 1955. Beigium 78 1956. Belgium T%s Belgium 8 Bolivia 7s et Bolivia 83 . Brazil 6158 1926. . Brazil 6%s 1927, Brazil 7s. Brazil 88 .o Bremen State 78 Canada 5s 1931 anada 58 1952 Chile 65 '60 Chile 6s '61 Chile 781943, ..... Chinese Gov Ry 5s. Colombia 6s Jan'61. Con Pow Japan 7s. . Copenhagen 4%s 53 Copenhagen bs ct.. Cuba 5%8......... Dantsh Munic 8s B. Denmark 4% Denmark 5%s, Denmark 6s....... DE15%s Mch§3.. Dutch Kast 1 6547, Dutch East 1 65 62. Fiat 7s x war .46... Finland s £ 63 45 Finland f Framerican 7%8. German Ba Ger Gen Elec 78, Greek 65 1968. .. Hungary 7%s. irish Free State 55. 51 ltaly 7 . 145 (talian Pub S 7 8 Japanese Japanese 61 .. 18 Kreuger&Toll 55 ct 56 Lyon 6s. . ;8 Marseille 6s. = Mexico 4s 04 asntd. Mexico 4510 asnt. Milan 6%s. Montevideo 7 etherlands 6 ew So Wales 57 ew So Wales 58 1 82 Norway 6%s. Norway 63 1943 Orient Di Paris-Ly-Med 6; Paris-Ly-Med 7. Peru 6s 1960 Peru 65 1961. Pirelll 7s '52. Poland 78 (rcts). .. Poland 8s. . Queensiand 6s Rhinelbe Un 7..... RhineWst EP 6553 RhineWst EF 65’53 RhineWst EP 78’50 Rio de Janeiro G148 Rio de Jan 8s 194 Rio GrDo Sol 65 '48 Rio Gr Do Sul 8 Rome 6%s... Sao Paulo 195 Saxon (PW) Seine 78 42. Serbs Cr Slav 7i 100% 103 PSerbs Crot Slo 8s Shinyetsu 6%s 62.. Sweden Uruguay 6s 1960 Uruguay 8s Vienna 6s ' 811 Yokohama 6s 9 93 Alleghany Cpss ‘44 12 99 Alleghany 65 '49 wi 47 99 Am Chain 63'33... 1 Am Chem 5%s cv'49 61 102% Am Int Cor 5538 *43 119 103% AnSmit& R 13t bs. 21 99 Am Sugar Ref 6s... 2 AmT&Tcltrds. . Am T&T cv 4 45’ AmT&Teltr AmMT&Tst6s.... Am Tel & Tel 6%s. Am Water Wks bs. Am Wrtg Pap 6547 Anaconda 18t 6: Armour&Co 4% | Armour Del 6%s. . Atlantic Refin o8 Bell Tel Pa§s B... Bethlehm Stl pm 63 Beth Steel rf bs. Beth Steel 5% b: Bethlehem Steel 6 Sklyn Edison 6s. .. Bush Term Bldg bs. Certain-Td5 % srcts Chile Copper 68.... Colon Oil 6s'38.... . | Com Invest 532" Com Invest 6s " Con Coal Md 1st 53 Con Gas N Y 6%s.. Consumers Pow bs. Cuba Cane 8s. ... Cuban Am Sug 8 Denver Gas 5s. Detroit Edison 6 Dodge 6s. .. Donner Steel 7 Duquesne 4145 67. Gen Asphalt 65 36. Gen Cable 6%s"47. Gen Mot Ac Cor 6s. Goodrich 6%s. Gocdyear b5 rets Humble Ol 6s. . Humble O & R 6%s. (llinots Bell 1st 53, Iilinois Steel 4%s. . Indiana Steel 68 Inland St 4%s intl Cement 6 4 Int Mer Marii Int Paper b3 Inter Paper 6 int Tel&Teleg 4%s. 9 103 6 100% 883, 891 6 91% KanCity B & L8s.. Kan G & E 6s §! Lackawanna Stl 5t Laclede 6s. . Laclede G 5% 62. Ligget&Myerssss Liggett & Myers 78 Loew’s 1ne 6s. Loew's 63 w 0 war. Lorillard 6s. . . Loriliard (P) 7s... Loutsv G & E 6s 52. Midvale Steel 6s Mont Pow 68 43.... Mont Power. deb b Mor's&Co 15t 4 %8 Nat Dairy 6%s. ... Nat Radfator 6% N Y Eison 58 44. N Y Edison 6%s NewEnglandTel § N Y Tel 4%s . N Y Tel 6s 41. N Y Tel 65 49. North Am Edis fs. No Am Ed 65%s'63. Pacific Gas & E1 6 PacT & T 18t bs Pac T & T b8 b a) ! Pathe Exchange 7s Phila Co 6s 6 Phila & Read 65’49 Philips Petro 6% 8. X 4 102% UNITED STATES. w. Close 4 964 28 99261 994 14 9614 20 10331 26 106 30 Low. Close. 9l% 9% 9914 99% 109% 85 100% 1004 99% 109% B1% 99% 108% 1004 103 85% w|Cuba RR 7%s. MISCELLANEOUS. 934 984 100% 10234 98 100 100% 102% 954 100 102% 1034 103 1034 1011 9% 105 9814 101 1067% 917 994 1007 1007 10215 Int Tel&Tel 4%s cv1320131% 1 1061 100% 9814 106 100% 988, 1001 100% 99% 1007 100% 99% 100% 4 1025 108% 1044 98Y% 74 974 9315 934 89% 89% Wbash 4%s 78 rots, Plerce-Arrow 8s. Por Ric Am Tob 6i | Postal Tel & C 548 Public Service 4 RemingtonAr . Rem Rnd 5%8 war. Sinclair O11 6s. Sinclair Oll 6%s. 12 13 20 S 29 8 12 6 16 44 Stand O(IN ¥ 4% Tenn Copper 65 "41. Tenn Cop 6s B 44 LennkiecPow 6s ¢ Transcontl Oil 6%s United Drug 68 53.. U S Rub 1strf6s... U S Rub 7%s. U S Steel s f 6 Utah Pow & Lt 53 Vertientes Sug 7s Walworth 6%s '35. Warner Sug 78 41 West Elec 5s. ... Westn Union 6s & Westn Union 6148.. ° Wiison & Co 18t 6s. 2 9 Youngstn S & T 5s. 31 100 RAILROAD. Atchison adj 4 86% Atchison gen 48 ... Atch deb 4%4s 48. B & O Gold 4. B&OCv4%s.. B & Oref bs. B & O 53 2000 D. B&O 1stSset B&OTTImD 6s. B&OFLEWY 43 B&OSW5850..... Boston & Maine b Brookiyn Elec 6%s. Brook!vn Elev 6148 Bklyn Mannat 6s. .. Bklyn Un El 5s'50. Buff R & Pitt 4%s. . Bush Term con 5s.. Can Nat 4%s30.... n Nat 445 67. .. nada Natl4 %s'68 Can Nor 4348 1436.. Canaa Pac deb 4 Can Pac 4%5 46. ... r Clinch&O 6s 52. Cent of Ga 5s C'59 Central Pacific 4s Cent Pac 1st 58 90.. Ches & O Corpn 58 Cnes & O cv 438, Ches & O 4%s°93 A Chi B&Q gen 48 53. CB&Qi%sTTB Chi B& Q 1strf b CB&QIlldiv s, Chi&E 111 gn 68 51. Chi Gt West 4359., Chi Ind&L gen 5 ChiM&SUP4 4 SCEI. ChiMiISP&Pac5sT6 CMSP&Pacadj5s03. Chi& NW gen 4s. Chi & NW ref bs. Chi Rys 6s. ee ChiR1& P gn 4s.. hi K1 &Preas. .. Chi R I & Pac 4%s. hi T M in¢ 6s 60 Chi Union Sta 5s. Chl Union Sta &s 4. Chi & W ind cn 4s C& W 15%s62.. CCC&StL 4%s E 77 CCC & St L 55 D Ctev Term bs. Clev Term §%s. Colo & Sou 4%s. Cuba Nor 5%s ¢! o R R bs. Del & Hud 1st rf 43 Del & Hud 5%s. Del & Hud 78 8 D Rio G West bs DRG & Wst 65'78 Erie conv 4s B, Eriecy 55 '67. Erie (Pa) clt tr 4s.. Fia Bast C 58 74 Gr Trunk stdb Grand Trunk 7 Gt Nor 4%s 76 D. Great North 5% Great Nor gen 7; Hocking Val 4%s.. Hud & Man a) 8. Hud & Man ref is, L1l Cent 4% 66. 111-C-C-StL&NC b1 Int Rapid Trar 58 Int Rap 7'r 55 stpd Int Rapid Tran 6s Int kap Trans 78 Int & G Nor 1st 6s. . Int Rys C A bs 72.. Iowa Cent 1st 5s. Kan City Ft S 4s Kansas City S 3 Kan City Term 4s, Lake Shore 4s 31. Lehigh Val cn 4; Lehigh Val bs 201 L & N 482003 Louis & Nash 6% Louis & Nash 78 Man Ry 1st 45 0. Market St 78 40. Mil EI Ry & L 68 61 Minn & StL ref 4 M St P&SSM cn M StP & S! Mo Kan&T MK & T adj MK & T prlnbs A. Mo Pacific gen 4 Mo Pac 53 A 65.. Mo Pac bs F 77 Mo Pacific 58 G Mo Pac 5%s '49 cvt 85 Mont Trm ref NOT&MG5%s. to e OGRS Gh W = G e O 19 Pwwmme Dk Sow BaD cEmorwa e B a e N YCrfim4l4s N Y Centrfbs.. N Y Cent deb 6s.... NYChi&StL 5%sA. NYChI&StL 5% NYC&StL6SA New Haven 4s 55. NY NH&H cit 6s. N'Y Ont W 1st 4 N Y Rys 68 65. INYRys6sA® NYW&Baks. . | Nor Pac 33 2047 Northern Pacific 4s. Northern Pacr 1 6s. 1 Ore Short Lirfs 4s. Ore Wash 1st 4s... Pennsyl gen 4% Pennsyl con 4%s. .. Penna R R 4%5'63. Pennsyl 6%s Pennsyl gold Pere Marq 1st b Philippine RR 4 PCC&SIL bs B 1. Portiand EI P L Port R L & P 58 42 Port RL P 6s47... Heading gen 4348 A RIATK & L 4%8... 4s29... pl4sA.. StL&S Fr4tsT8. StL&SF prinb: SUL S W con 4s 33. Seaboard AL 4s sta. |Seab A Liret 4 SeabAL ad} bs Seab A L con 68 S B All Fla 68 35 Scu Pacific ref 4: Sou Pac 4%srets. . Sou Pac 415569 ww Sou Ky gends. .. Sou Ry Con 58 Sou Ry 65 56 Sou Ry 6%s Term Asso S L 4s Term Asso St L 5 Texas & Pacific 18t Tex & Pac 65B 1977 Tex & Pac 58 C'79. Thira Ave ref 4s 60 Third Aveadjbs... 3 i Tol Tr L&P 5%830. 2 | Upion Pac 1st 4s. .. Union Pacific 45 ‘68 Union Pac 1st rf 48 10 Union Pac 4%8'67. & Virginia Ry 1st6s. 6 Va Ry &P 6 1 9 2 8% 83% 100% 1084 964 1 102% 1004 108 9974 99% 86% 9% 119 911y 4 1004 1004 102% 10714 907 101 100% 92 891 5 109% 994 860 STAR, WASHINGTON, 100% 100% 102% 1074 90% 109% 994 10 SHAPE POLICIES lD. C. Attorney Urges Finan- ciers to Take Part in- Making of Laws. Special Dispatch to The Star. | TORONTO, Canada, June 18.—Bank- ! ers were urged to take a far more active and practical interest in governmental { affairs by Attorney Nathan B. Wil- liams of Washington, D. C.. in an ad- dress before the New York State Bsx_xk- ers’ Assoclation here today. Discussing “Business Relations With Government,” | Mr. Williams said, in part: “T would direct your attention to the wise words of a Chinese philosopher who wrote about 2,500 years ago, and who pointed out that ‘when the people are subjected to overmuch government the land is thrown into confusion,’ and from his store of wisdom said, ‘Govern a great nation as you would cook a small fish—don't overdo it.’ Law Observance Commission. “The press has presently been much filled with the alarm which the Presi- dent of the United States has felt called upon to express with respect to our well known capacity for ignoring or breaking | laws. A commission on law observance and enforcement has been constituted composed of able and sincere men. They may or they may not come to the con- clusion that laws to be respected must be respectable, and that a prominent item contributing to the attitude of our peaple is in the enormous output of laws contributed by our Congress of 531 members, our State Legislatures, com- posed of more than 7,000 members, and by our 16,000 incorporated towns and cities and 3,000 counties a]l more or le: | actively engaged in operating our la plant, the dust from which at times al- | most suffocates the citizen. | " “Now, bankers have generally ac- cepted the principle of Government regulating your affairs to a rather inti- mate degree. We have bank exam- iners, State and Federal; corporation commissions, Federal Reserve boards and divers and sundry places where the | business of bankers comes into contact with the agencies of Government. “I point out to you that it might be | highly desirable to turn this scheme of things about at least partially and that | you should take a hand in developing, | correcting and regulating -Government. | | Advisory Councils. | this result is to be found in the de- | velopment of advisory courtcils, where | representatives of group organizations such as yours and in co-operation with | similar organizations, _establish and | staff organizations which study the operations of the Government, whether State, national, city or county, and which by constant contact with the problems met and constant and con- tinuous study of the ends and aims to be accomplished may profoundly in- fluence the course and_development of Government and hold its expenses and activities in line with ‘our purses and confwed to such activities as are de- sired by discriminating citizenship. INTERNATIONAL BANK IS PARLEY SUBJECT Attitude of U. S. Reserve to Rep- arations Institution to Be Determined. Special Dispatch to The Sta | NEW YORK, June 18—It is possible that a clearer attitude by the American Government toward official participa- | tion in_the workings of the proposed | Bank of International Settlements may come out of the interviews which the American members of the Paris debt | conference are to have this week with President Hoover. | | Both Owen D. Young and J. P. Mor- gan feel strongly that the new bank will be one of the best results of the | debt _conference. In the only interview which Mr. Morgan has so far given con- cerning the debt settlement he referred exclusively to the value of the bank as a factor in world peace. Several months ago Deputy Gov. Bur- gess of the New York Federal Reserve Bank went to Paris and assisted in drawing up the terms for the new in- ternational bank. Later the State De- partment made a statement to the ef- fect that it would not look favorably on the appointment to the governing body of this bank of any member of the Fed- eral Reserve system. This was done in order to remove any possibility of criticism from those who still believe that the United States should have no official connection with European debt matters, in spite of the fact that the Paris settlement could only have been concluded under Amer- ican direction. Inasmuch as there must be a very close working arrangement between the Bank for International Settlements, as well as the Bank of England, the Bank of France, the Bank of Germany, the Bank of Belgium, the Bank of Italy and also the government banks of the small debtor nations, it_is equally necessary that the Federal Re- | serve banks should be on a parity with the others in matters of policy involy- ing payments which will ultimately come in large part to the United States. These facts are likely to be empha- sized by Mr. Young and Mr. Morgan when they talk over the next step ‘in the organization of the new bank from the standpoint of the American identity wit] OIL COMPANY EXPANDS. NEW YORK, June 18 (#).—Standard | 0il Co. of Ohio will acquire a control- ling interest in a new corporation which will take over Caldwell & Taylor, Inc., wholesale and retail distributors of | petrolenm products in Cincinnati and | Dayton. SILVER QUOTATIONS. NEW YORK, June 18 (#)—Bar| silver, 53; Mexican dollars, 40%4. New Securities By the Assoclated Press. NEW YORK, June 18.—New securities offered today include: Forty million dollars Canadian Na- tional Railway Co. 40-year 5 per cent | guaranteed gold bonds priced at 99% | and interest, to yield more than 5 per cent. | Eleven million four hundred and| fitty thousand dollars Toho Electric | Power Co., Ltd., 3-year 6 per cent gold notes, priced at 99% and accrued in- terest, to yleld more than 7.40 per cent. Ten miilion dollars State of Illinois 4 per cent gold bonds priced according to maturity to yield 4.30 per cent (ac- crued interest to be added). Fifteen thousand shares Intercon- tinents Power Co. $7 cumulative pre- ferred stock, first series (with class A common stock purchase warrants at- | tached), priced at $99 per share flat, to | yield 7.07 per cent. Twenty thousand shares Wilson- Jones Co. no par capital stock, priced upon npgliclllnn. Seven hundred and seventy-one thou- sand dollars State of Mississippl 415 g:r cent bonds, dated April 1, 1929, maturing from April 1, 1933, to April 1, 1953, to yield from 4.60 per cent to 4.75 per cent. ‘Wabash 5876 B... Wabash %875, West Md 53%s ‘77.. ! Western Pacific5s. 5 97 964k 96% “A practicable means to accomplish ||! D. C., TUESDAY, JUNE 18, 1929. Spectal Dispatch to ‘The Star BALTIMORE, June 18.—Commission- | ers of Pinance 'of Baltimore City, yes- terday awarded two issues of 4 per cent | bonds of a par value of $4,630,000 to a syndicate headed by the Mercantile Trust Co. of Baltimore, whose bid of 96.23 was the highest of those received. | At this price it was estimated that | the bonds would yield interest on a basis | of about 4.35 per cent. The city will receive for the issue $4,455449, the price resulting in a discount loss of $174,551. City Register A. M. Denhard, mem- ber of the financial board, said the price was very satisfactory, in view of the present money conditions. Some of the city officials had anticipated the high- est bid would not be much over 95.5 Mr. Denhard added: onsidering everything. the price is satisfactory. Incidentaily, it is a better price than the State was able o gt on its securities that were recently sold.” 2 Other bidders and bids follow: Alex- ander Brown & Sons, 95.627; National City Co., 95.609; White, Weld & Co. 96.05; Mercantile Trust & Deposit Co., | 96.23] First National Bank of New York, | 95.59: First National Securities Corp., | | Firm Acquiring Stock. NEW YORK, June 18 (/).—Unger- leider Financial Corporation is acquir- ing all the preferred and a large block of the common stock of Wonwit, Teller & Co., a New York store with branches ! at Newport, Southampton, Bar Harbor, Palm Beach and Miami Beach. The | company has heretofore been privately owned. Its first quarter sales and profits | showed a 100 per cent gain over the corresponding period of 1928. COPPER PRODUCTION. NEW YORK, June 18 (#).—The American Bureau of Metal Statistics reports the world's May copper produc- tion amounted to 193,089 short tons, | compared with 196820 in April and 56,414 in May, 1928, THE IDEAL INVESTMENT Standard Collateral Trusteed Common Stock Shares A _TRUSTEED OWNER- SHIP in 100 leading American Corporations. It will to your interest to Investigate Standard Collateral Shares Corp. Franklin 3783, Woodward Blds. First Mortgage Loans Fair Rates of Interest | J. LEO KOLB | 923 N. Y. Ave. Dis. 5027 Complete Investment Service GreeeT & CoO. BANKERS INVESTMENT BUILDING WASHINGTON, D.C. Telephone, May Loans on Autos Quick Service— 37 0 Confidential Our Only Charge UNITED LOAN CO. (Bonded) Rosslyn, Virgini. BALTIMORE, June 18 (Special).— The Seaboard Air Line Railway reports gross earnings for the first weel June were 6 per cent larger than they were for the corresponding week in Phone West 2920 More than a third of a century’s experience It'sa Specialized Business —taking over the manage- ment of realty property. It calls for long and varied ex- perience—and we have had it—equipping us thoroughly to serve property owners ficiently and profitably — especially apartment house property. B: F. Nat'l 2100. SAUL - CO, 5 15th St. N.W. “Convenlently Located or 1529 14th St. NW." Dec. ‘3320 Dec. 3320 Unconditionally GUARANTEED Lazy Dollars vs. Industrious Dollars Dollars that yield only half of their worth are like a worker laying down on the jo Why not maks funds "bring in all they e earn? 6% with absolute safety is guaranteed every purchaser of our First Trust Notes secured by modern Maryland homes. FINANCIAL. SEABOARD EARNINGS. 1928, of | May were 7. or the same month a year ago. ‘While only the percent crease i3 given out, that figure: that Seaboard is continuing to improvement that was the " When " operating - révenues reported per cent above those Our new telephone numbers will be National 0591 to 0596 (Inclusive) on and after June 15, 1929 Crane-Parris & INVESTME. Company VT BANKERS 821 15th St. N.W. Washington, D. C. CAPITAL & SURPLUS Business —need not intrude upon = T National Savings & Trust Co. Oldest Savings Institution in the District of Columbia 63d Year Cor. 15th and N. Y. Ave. enjoyment of your Summer outing. G “Our Trust Dept. can be authorized to act as Your General Agent for a speci- fied period, relieving you of every routine busines worry. Ask us for further information. TRAVELERS' CHECKS Real E‘.s;tate Loans We Invite Apptications For FIRST TRUST LOANS on Improved Property IN NEARBY MONTGOMERY CO. AND THE DISTRICT OF COLUMBIA AT si-% INTEREST (Minimum Commission) Periods of 3, 5 or 10 Years Or, if You Prefer The Trust May Be Made to Bear Interest at 6% to Include Commission No Appraisal Fee FURTHER DETAILS ON BO Founded 1907 S M PHE REQUEST 2 LPS Loan Correspondent John Hancock Mutual Life Insuranc: Co. F. B. KEECH & COMPANY Members of New York Stock Exchange Washington Stock Exchange New York Curb Market Chicago Stock Exchange Chicago Board of Trade Liverpool Cotton Exchange, Ltd., (Assoc. Members) New York Cotton Exchange N. Y. Coffee & Sugar Exchange, Inc. New Orlcans Cotton Exchange Bremen Cotton Exchange (Assoc. Members) Winnipeg Grain Exchange Rubber Exchange of N. Y., Inc. We Wish to Announce That as of the Close of Business, June 18, We Have Discontinued Our Branch Office, Carlton Hotel For the Summer Months H CORNER 17TH ST, N. W., WASHINGTON NEW YORK PamADELIITA THE AMERICAN FOUNDERS CORPORATION (Business Organized 1922) COMMON STOCK MERICAN FCUNDERS CORPORATION is a man- agement, financing and holding organization which sup- plies investment supervision to four investment companies of the general management type. American Founders Corporation and its affiliated companies exceed $175,000,000. BOUGHT — SOLD — QUOTED MACKUBIN, GOODRICH & CO. Bankers Established 1899 Members New York and Baltimore Stock Exchanges Investment Building, Washington, D. C. 111 East Redwood Street, Baltimore, Md. of Combined resourc