Evening Star Newspaper, July 25, 1929, Page 15

FINANCIAL LOANS Let us have your applications r ‘LOANS ON REAL ESTATE Immediate Action Courteous Treatment Our record of 35 years speaks for itself. Percy H. Russell Co. 1731 K St. N.W. D. €. THURSDAY, JULY 25, 1929. the Dawes plan in tions tan- m'-uu?-mmr column, hflllulmm mi Ym Mu which FINANCIAL WASHINGTON Consult Us First It need money for ilu.l Estate financing ul have your application today. :::zmm l year, m The first one the immediate evacua- tion _of Rhineland. Dr. Strese- Prompe Service No Anubd Feo The Commmill National pany Pate w CRRTCOSNA sooo.000 Commerelal, NATional Bazk Blds. 923 N. Y. Ave. 20 26 16014 1005 26 10310 103 1 U!IKI[I. THE IDEAL INVESTMENT Standard Collateral Trusteed Common THE EVENING STAR, Received by Private Wire Direct to The Star Offi b yw. Close. oo toms || N SHARPDECLINE|) zmmes secmennyi o) FOLLOWS RUMORS 22 24 J. LEO KOLB 98 23 wmunmos 98% $ v 5927_|| | Higher Money Rate De- sa28 :""’";‘:.";: 353 | Combine of Standard of In- - ‘oungsf .. presses Prime Mortgages. S DI D nnumn.% FOREIGN. | = ne e s ”3 Is Announced. _— ittt | S BOND ISSUES | [ome sone BONDS ook scmunce] | HUGE (IL MERGER Fair Rates of Interest 0 615 96262 3 107 mu A WinRepeatAr 7 %s. Wy diana and Pan-American Convertibles Active. L 79 B&0 Gold ¢ unnun. s Ju by Stock Shares A _TRUSTEED OWNER- SHIP in 100 leading American Corporations. It will te your interest to investis: Franklin 3783. | Second Southern | Bankers Securities Corporation Capital Stock An investment trust with experienced management. Price at the market Write for full details. | STEIN BRros.& Boyce Established 1853 Woodward Building "ASHI;GTON D. C Main Office: Baltimore, Md. Members NEWYORK, Baltimoveand | Washington Stock Exchanges Associate Mmbrvl New York Curb nge 1 Will Sell 35 Units Capitol Title & Guarantee (Being 70 Pfd. and 35 Com.) $165 per Unit Total, $5,775 Subscription price, $250 per unit Total, $8,750 And 65 Shares Common at $35 Per Share (A"l or None) Thomas L. Hume 1412 G St National 1346-1347 YOU CAN 4 INVEST f WITH CONFIDENCE MORTGAGE IN OUR 6% NOTES | Washington Stock Exchange BY CHARLES F. SPEARE. | Special Dispateh to The St | NEW YORK, July 325—With call !loans and time money both at 8 per cent tcday, Unitec States Government loans declined sharply. In contrast there were a number of strong spots in the market for high-grade corpora- tion mortgages. The chief interest, however, remained in the convertibles and especially in American Telephone 413s, which continued to soar as the stock made a succession of new high prices. Treasury issues. had a thin market. vThe 4Yas dropped nearly 3, and the 33,s and 4s were off about 3. United States Liberty Fourth 4s sold at 98% after muehl.n{.&lr recently. The Federal Reserve ment this after- noon will be closely analyzed for evi- dence of a policy of assisting the money market mmu(h purchases of Govern- ment bonds. Prllne Mortgages. Such prime mortgages as Atchison 4s, Baltimore & Ohio 4s and first 5s and refunding 5s, Northern Pacific 4s, Great Northern San Antonio and IArlnus Pass 4s, New York Central 4s and Canadian Pacifie 4s have shown | evidence of moderate secumulation the |Iast few days. The legal public utili- | ties have exhibited little change. | The heavy trading was all in the | convertibles ‘and overshadowed by the | rise in American Telephone 415s. These 'hnd an early gain of 2 points, which | they increased to 5 peints by mid-day. | International Telephcne 448 were relatively sluggish with the spread be- tween the two issues, which were at parity a short time ago, increased to over » dozen points. Other active and strong stock option bonds were Alleghany Corporation bs, Kreuger & Toll 55 and Philadelphia & Reading 6s. Missour! Paific 5%3s lost 2 points. ‘The local traction issues showed more sign of support and Chicago Railway 55 were firm. The two Cuba Cane Sugar convertibles were higher on the gen- eral improvement in sugar securities. Seaboard Air Line Consolidated 6s, which dropped below 65 yesterdty and closed at 70, fell off about 4 points. Foreign List, Heaviness in several of the South American issues and firmness in French obligations featured the foreign list. ‘Two municipalities, Los Angeles and San Antonio, offered their bonds for investment today at prices ranging from 6 per cent for the first short ma- turity of the Cailfornia city and 4.50 per cent for the longer ones, and at 5.25 basis for the one-year notes of the ‘Texas municipality and 4.70 per cent ggx;’lhou falling due between 1950 and FIRM EXPANDS NEW YORK, July 25 (#).—American | Gas & Power Co.. subsidiary of Amer- lican Commonwealths Power Corpora- tion, has acquired the Industrial Gas Corporation of Birmingham, Ala. The | transaction is said to have involved purchase of all of the latter's common stock for about $1,500,000 in cash. e g % SALES. Capital Traction 55—$1,000 at 100, sz.l;%o at 99%, $1,000 at 99%, $1,000 a Wuhlnmn Railway & Electric 4s— $2,000 at 86. Capital Traction Co.—3 at 95, 10 at 95%. Federal-American Co. com.—10 at 4615, Federal-American Co. pfd.—10 at 101, 4 at 101, 1 at 101. Merchants' Transfer & Storage com.—10 y Arnnnno 5 hl 6 Argentis Argenti: Australl Australla Bank of Chile 6% Bank of Chile 6% Belgium 6: B & O Toledo Boston & Mai Brdway&7th Av Bklyn Un El Bkiyn Un El 63 '60. Can Nat 4%s 30. 6 Can Nat 4%s 67. 1 Canada Natl4 %! 2 Canaa Pac deb 6 Can Pac 4%s 46, 7 Cent of Ga 65 C 59, 55 Central Pacific 4s. . Ches & O Corpn 5; 15 Cnes& Ocv4%s... 8 Ches & O gudlss... 3 Ches& O4%8'93A 2 CB&QIU3%s.... 3 CB&QIidivis 1 Chi&k 111 gn 65 61.. 1 Chi Gt West 48 69.. 36 ChiM&StP4%sC89. 1 ChiMIISP&Pacbs?s. 14 CMSP&Pacadjss03. 83 4| Chi & NW gen 4 Mexico 4s'10 Milan 6%s. Montevideo I CeammRRRan o 3 % Orfent Dlv 6%8'67. Paris-Ly-Med 6s. .. - PTPIRT Y o =Tor PP S-TN Rome 6%3s. Seine 7s 42 e Shinyetsu 6% 62 Sweden 5%s Sweden Samm~ Swiss Confed Tokio 634 s 1961. Utd Kingm 6%837.215 Uruguay 6s 1960... MISCELLANEOUS. Abram&sStraus 5% z 1L Ajax Rubber 8i 80 Alleghany Cp Alleghany 65 49 wi 170 um. Am NatGas 6%3'43 AnSmit & R 13t 8s. Chi Rys 68...... ChSiLPM&O 63 '30. Chit B&SES: Chi Un Sta 448 *4Chi & W Ind cn CCC&StL deb 4%s. Clev Term 5% Colo & Sou 41as Cuba R R 7% Cuba Nor 58 et Del & Hud 1st rf ¢, Del & Hud b%s Den & Rio G en D Rio G West b Erie conv4s A. Fla Bast Cos 74. Gr Trunk stdb 6s... Great Nor gen 7s. . Green B & W deb B. Hud & Man a) 68 Hud & Man ref & Ll Cent 4% = 66 Int Kaptd Tran Int Rap Tr 65 st Int Rapid Tran Int&: r adj Int & G Nor 1st Int Ry C A 6% lowa Cent rf Kan City Ft S ¢ Kansas City 8 3 Kansas City S bs. Lake Shore 4s31... LehiVgen 4%s 2003 l‘ Lehigh Val 65 2003. 1 Louis&Nash uni 4s. 12 Louls & Nash 6% Market St 78 40 4 Mil Kl Ry & L 6s 61 30 Minn & StL ref 9 Minn&StL fd 68 63. M StP&SSM cn Mo Kan&T 4%8 MK & T ad) b Mo Pacific gen 48 Mo Pac 63 A 65. Mo Fac b8 F 77, Mo Pacific 58 G '8 146 Mo Pacsi%s 43cvt 6 Nassau El 48 61.... NOT&M6%s.. NYChi&StL 6%sA. NYChi&StL 5%. B. N YOntW istds NY knncs BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, July 25.—Herbert Hoo- ver, champion of efficiency, swomn enemy of waste, announces cation of the Kellogg pact, signed by 44 nations, to renounce war as a policy, Tied up with this came his thunder- bolt of the day before, insisting that too much money is being spent for mili- tary pi urruu ‘“The n"j‘est military budget of any nation in the world today” is what the President says, commenting on the Ameflan military expenditures. he President’s suggestion 15 for a cnmmtuwn of military men to investi- b.u; A!l“flma‘ ?xpendnu$ and report ck, wi elr suggestions regardin s the cuts should be made. ¥ “$plendld idea,” says Senator Borah, “‘except that the commission should not be a military one.” Then Ramsay MacDonald, British leader, announces a_cancellation of a certain number of British naval con- tracts and a slowing down on other naval construction. The British prime minister will arrive in the United States in October to confer with President Hoover on world disarmament. It looks as though the world is get- ting a death grip on this war business. Most Americans will co-operate to their_utmost with the President and 4| the British prime minister in an at- tempt to strangle the military spirit in | the world. The oil companies have not kept up |in the big busigess procession during | the last few years. Too much crude oil production! There have been many rumors of mergers and consolidations, but few have taken place. But the one announced yesterday, by which the Standard Oil Co. of Indiana & Transport Co. will bring into exist- ence another gigantic oil corporation, ;gol!:wpmpel‘ves valued at about $755,- At the end of 1928 the Standard Ofl of Indiana had total assets of $498,- 371,000, while the Pan-American Pe- troleum had $259,299,000. Standard Oil of Indiana is largely a refining and marketing compeny. It . | owns the Midwest Refining Co. and has a half interest in the Sinclair Pipe Line Co. and the Sinclair Crude Oil Pur- chasing Corparation. Its activities are largely centered in the Middle West. ‘The Pan-American Co., owning the Mexican Petroleum Co. and the Lago Oil & Transport Co., is a big crude oil producer, concentrating especially in Mexico, Colombia and other South American countries. Edward G. Seubert is president of the Standard Oil of Indiana, headquarters in Chicago. It is rumored that another large con- | solidatign in the oil field, under way for months, will be announced shortly. now supplanted ‘Baltimore, Md. Wilkes-Barre, Pa. Wilmington, Del. with | | takes over the Pan-American Petroleum |7 mEmszRs BALTIMORE sTOCK EXCHANGE ASSOCIATE MEMBERS NEW YORK curs MARKET some Vot i) the year 1335, by ‘Which time the withdrawal must be complete, under the terms of the treaty of Ver- The second condition demanded by Germany is the early return of the Saar regions to_Germany. For several years now the French government has made an effort to swing the inhabitants over into a pro-French attitude, for a plebiscite has been fixed for 1935 by the treaty of Versailles. Should the vote go for France, then the country would necessarily remain with them. But the French mve made no progress. The majority today is almost unanimous in favor o{ German affiliations. So German government holds that it 15 unnecessary to wait until 1936 and that the transfer of the region from the custody of the m of Nations to the "Germa; the ratifi- | SHes (Copyright, 1920 by North American News- paver Alliance. NORFOLK & WESTERN. Norfolk & Western Mmy Ca Te- rts for six months ended 30, 1929, net income of ll765562§ lflfr taxes and charges, equivalent, after al- lowing for dividend requirements on 4 per cent preferred stock, to $12.24 & share earned on 1,404,637 shares of common stock. This compares with $11,- 556,407 or $7.92 a share on 1.400,753 common shares in first half of 1928. Statement for June and six months compares as follows: June gross 17,656, fln o Plans Branch Line. By the Assoclated Press. The Pittsburgh & West Virginia Rail- road today applied to the Interstate Commerce Commission for permission to construct a six-mile branch line from a point on the new Connellsville exten- sion, now under construction, at Pigeon Creek Crossing to a connection with Donora Southern Rmrud at Baird, Pa. CALWET & HECLA. NEW YORK, July 25 (Special).— The Calumet & Hecla Consolidated Copper Co. reports earnings for 1929 will exceed $4 a share, compared with approximately $1.55 a share in 1928. Robel;t R‘ B'ennett Metropolitan Bank Bldg. for 22 yea Sw.p. ait.’ Ch J-A.W. Iglehart & Co. - Investment Bankers 719 15th STREET N.W. . WASHINGTON, D. C. Clarksburg, W. Va. Richmond, Va, | Charleston, W. Va. 1508 H Street Richmond London MEMBERS New York Stock Exchange Washington Stock Exchange Richmond Stock Exchange New York Produce Exchange New York Curb Exchange Copy of our “Fortnightly Review” on Request National 9600 Wires and Telephone to New York National G. M.-P. MURPHY & CO. New York WASHINGTON Philadelphia Connecticut at K Bank Our Trust Department —acting under Voluntary Agreement, can contribute much to your vacation free- dom by relieving you of routine details. with us. T Traveler's Checks & Letters of Credit National Metropolitan in 1814 Baflk old 15th St., opposite U. S. Treasury business Talk it over 115 Years P RIS MORTGAGES IDLE MONEY MEANS WASTE AND LOSS —and you can put it to work to exceptionally good advantage through investment in our 6% FIRST MORTGAGES Over a Third o o0 sk aTnoab R b tncnlere—n You have the security of con- servatively appraised property— and the interest is most interest- ing. of a Century Without a Loss FIRST 4 103% DENOMINATIONS 58 140 mmmhner Linotype—10 at 104%, 10 | Am T&T cv 4348'39 3724 183% 175 at 1043, 1 tr 6 1 101% 101% Real Estate Mtge. & Guar. pfd.—160 at | A m & & o 1 5 1027 1024 Am Tel & Tel 6%s. 22 105% 105 Ringlon Medical Bldg. Corp.—20 el D ERE R ] - Am Wrtg Pap 1;1% i Anaconda 1st §s » 47 Mery enth-ler‘:::::z:p:-e:‘o" At 104, | Armour&Codthedd ’: ington Gas 65 A—400 at 101, 100 | ATTGuir 8 sa. o, Atl Gulf 8 bs. Clnlm 'rncuan Co.—10 at 95, Bell Tel Pa 6s B Washington Gas 65 A—$1,000 at 1023, | Bell Tel Pabs C. Capital * Traction 55—$1,000 at 9955, Bethlehm Stl pm 68 $4,000 at 99%, $1,000 at 9913, $500 | Both Steel 6342 63 .. at 9915, Bethlehem Steel 6s. ‘Washington Gas 6s B—$1,000 at 106, Certain-Tds%srets Bid and Asked Prices. Chile Copper bs. Colon Oil 65°38. BONDS. PUBLIC UTINITY. PROTECTED by eareful appraisement of irain- ed men. Nortnern Pacific s Nor Pac 4145 2047.. Nurthern Pacr i 6s. Nortolk & W cn Ore Short Lirfsés.. Ore Short L 68 gtd.. Ore Wash 1st 43 Pennsyl con 4% Pennsyl geu 4% = SECURED on carefully selected ard im- proved real estate in Washington and its environ. INSURED againgt loss by fire by standard insurance companies. CHECKS RECEIVED BY R_THE DAY 34 ARE D! BOSSEMHELPS 1417 K St. National 9300 Parking space In rvear of office for clients You can invest in amounts from $250 up. Port R L& P 68 42. Reading gen ¢%s A RIArk& L 4%s... StL IM&S gn 68 31. St L IM&S R&G 48, 2 SIL&SFDI4sA.. StL&SFra%sis. StL&SF prinbs. St LS W con ¢s 32.. SUP & KCShL 4%s. San A & Arn P 4 Seab A L ref 4s SeabAL adj Gs 1949 Seab A Licon 6s.... 6 SBAIIFla6s35A. Sou Pac elt 4 — e ~5-82 B. F. National 2100 SAUL CO. 925 15th St. N.W. Col G&EI s May 52 Com Invest 638’49 3. Com Invest 63’4 Con Coal Md 1st b8, 5% ™% | Con Gas N ¥ 6% Both n!nlndutpmfiufofflnfimumufiud the current year were the largest in the history of the Company. N During the latter part.of 1928 seven new plants were -qmred by the Corporation, the result of the opera- tions {xh are expected to begin to show in the nmlm of the present year. ‘We have prepared an analysis of+the Corporation with pu.w:ulupl"deunee to the preferred and commonstocks. A copy is available upon request Travep ox Nzw Yozx Curs ExcEANGE PETER P. MCDERMOTT & Co. Members New York Stock Exchange Members New York Curb Exchange 42 Broadway Telephone WHI tehall 2890° THERE IS NO SUBSTITUTE FOR SAFETY DatroitEdisons 0. Detroit Edison 6s. . Dodge 6s. East Cuba Sug 'I"I Gen Asphalt 63 36.. Gen Mot Ac Cor 6s. Goodrich §%: Goodyear bs rets. Hoe & Co 6% Hurgble O1) 8s. .. Barber & Inc. . HumbleO& R6% ) Inland 8t] 4%s'78. intl Cement Int] Match 6s ty & Suburban Georaetown Gas st 55 Potomac Elec. con: Potomac_Elec. 65 Guaranteeing Satisfaction When a Mountain Fell In 1905 when geologists stood on the slopes of Monte Arbino, Switz- erland, overlooking the beautiful Arbedo Valley, they predicted that within twenty-five years the mountain would completely fill the valley. Heeding this warning, the residents moved their homes and so when last year the 30,000,000 cubic yards of rock thundered in the valley, not a soul was there, not a life was lost. The Trade Mark a: e Wash. Gas 6s; sgries Wash. Rwy & Elec. Tex & Pac 6B 1971 6 Tex & Pac 55 C'79. 153 % | Tol Tr L&P 6%830. 3 Union Pac 1st 4 Union Pacific Virginia Ry 1st b Va Ry & P 6i . Title Co. 6s.. STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel New York 1210 167% 164 KanG&Banez. . 10 1044 10% Kendalls %848 war %’&’R,‘;":"Z“w. ey 306 | Luclede 6s . Potomac El Laclede G 6%863.. 1 eomas ll-e S ptd Lautaro Nitrate 6s.474 B 5 Liggett & Myers s . | Loew's Ine 6 o | Loew's W O WAT. Lorillard & Lorillard 6%s Loulsv G & & 68 52, ManatiSug st 1%, Midvale Steel 68 Western Pacific és. 10 Balio. & Ann: Blto: & Annap pfd. NATIONAL BANK. National Cipital. New Securities We Offer Every Financial Service Backed by more than thirty-nine years of experience in serving the people of Washington, we offer every phase of bank- ing and trust service.’ By the Associated Press. NEW YORK, July 25.—New security offerings today include: Lincoln Continental Shares, Inc., 6 per cent National ‘Metropolitan. 400 convertible cumulative preferred stock, T s in amount $24,000,000, at $99 and accrued Naiionar FE dividends. "Oftered by Otls & Go. and c\ty ol Los Angeles 43 per cent bonds, amount $3,700,000, due October’ 1, 1929, to October 1, 1949, at 99 to 104.58 and interest. Uhlen & Co., 75,000 shares of com- mon stock, at $20.50 a share, City of 'San Antonio school district 5 per cent bonds, amount $1,700,000, ma~ turing 1930 to 1969, to ymd 525 to 4.70 per cent. : ric Fehrleul -American The “S-F” Service Station LUBRICATES THE WHEELS OF BUSINESS! The smoother an organization runs, the more profit and less waste. With our experience of over 43 years in the business of equipping offices we are in po- sition_to know what equipment an office needs. It may be a new system of fil- ing, new steel filing devices, vis- ible indexing or some other mod= 1 ern appliance or device. gulnmx.l Title. 1; Just phone one of our special [ Titie *J.l;' 081 ot Ml . ] representatives and have him call MISCELLANE! 1: 3 13 ‘TRUST COMPANY. American Security & Trust Cv . Continent: "rust. Merchants’ Hnnk Wl!hlnfl.un Loan & Trus Nor States Pow 6s. EAVINGSTRANE. Pacific Gas & E) 3 100% Bank of Bethesda ok ¢ 108 Commerce & Savi 97 Fottmee nneve Phia & Read 65748 184 101 Philips Petro 6% s. 88ly P'IM.-AII‘D' ic Am Tob 1 Tel & C 818 Pressd Steel Car 68 'u Public Service 148 ¢ Rem Rnd 6% war. 22 Simms Petm 6: Preparation for the future is only possible by playing safe. { When you can place your savings in securities which you are confident will be worth 100c on the dollar through the years to come, it is foolish to take chances, Such in- vestments are the First Mortgage Notes issued by Swartzell, Rheem and Hensey Company, which pay 6% steadily and keep your money intact during the life of your in- vestment. Let us explain their advantages to you. Departments Trust Safe Deposit Foreign Exchange nited " States ni at gton LAY Savings Real Estate Commercial AMEROW SEURITY 15th and Penna. Ave. ¢ Capital, $3,400,000 Surplus, $3,400,000- Five Convenient Banking Offices WASHINGTON'S LARGEST TRUST COMPANY FOREIGN EXCHANGE. tions furnighed by W. B. Hibbs & Ce.) o “mfl’f o :l sold Selling e American . Corcoran . Reiona v London, pound. Earis, and consult you. ‘The facilities of our utlbllbh- ment are familiar to him and is like trading here without, lnv- ing your desk. Phone National 9176 STOCKETT- FISIKE <O SugarEstOriente Stand Ofl N J 6s 4 Tenn Cop 6s B Tenn KlecPow Transcont! Of - SWARTZELL, : REEEM & HENSEY CO. MORTGAGE BANKERS 727 15 STREET N.W./ WASHINGTON D.C. Exiovon - Hionotyoe. Merch. Trans TREASURY CERTIFICATES. . z Co. u&nyi: & W. Seligman & Co) SaRSwons ) B! Utilities Powr 6%8 Vertientes Sug-7s ‘Walworth 68 45 Walworth 648 '35, e oMl e \’V.ASHINOTON ‘D'C CL T