Evening Star Newspaper, August 5, 1929, Page 11

& Mon:z to l:‘om o of trast on r o‘:’;"m‘f v ’r“_ngaf.'m» av 1 First Mortgage Loans [ Fair Rates of Interest ‘l J. LEO KOLB I 923 N, Y. Ave. Dis. 5027 First Mortgage Loans Lowest Ratez of Interest and Commission Noted Today. Thomas J. Fisher & Company, Inc. THE IDEAL INVESTMENT Standard Collateral Trusteed Common Stock Shares A TRUSTEED INTEREST in 100 leading American Corpora- tions. The TRUSTEE will pay on August 15, 1929 A DIVIDEND of 60.062 cents per share for the six months period ended July 15, 1929, as compared with 48.058 cents for the six months period ended January 15, 1929. The 'Drice. ot 315,373 on July 15, CONTINUED GROWTH in yield and principal may be ex- pected. 'STANDARD COLLATERAL SHARES CORPORATION 601 Woodward Bldg. Metropolitan 3383 YOU CAN INVEST WITH CONFIDENCE IN OUR FIRST 6% MORTGAGE NOTES DENOMINATIONS OF $250 AND UPWARDS PROTECTED by careful appraisement of train- ed men. e SECURED on_carefully selected and im- proved real estate in Washington and its environs. <> INSURED against loss by fire by standard insurance companies. INTEREST CHECKS RECEIVED BY INVESTOR THE DAY TH PIOSTREES 1417 K St. National 9300 Parking space in rear of office for our clients {Complete 'ilnvestment ‘Service GreeeT & CO. BANKERS INVESTMENT BUILDING WASHINGTON. D.C. Telephone. National 2460 FINANCIAL. Second Southern | | Bankers Securities Corporation [ Capital Stock Wide diversification and ex- | perienced management are two features which make | | the capital stock of this Company attractive. | Price at the market Full information upon ftqlles" STEINBRos.& Boyce Established 1252 Woodward Building WASHINGTON, D. C. Main Office: Baltimore, Md. Membevs NEWYORK, Baltimoreand Washington Stock Exchanges Associate Members New York Curb | xchange Can You Afford To Risk Your All? When vou speculate you Jne are risking voor ‘s vestment mea: and steads income. with | Na out any attendant risk, | 0 | whatsoever. Guaranty r-‘i ort- &age Notes the te and hacked by 00,000 resources. 6 % Denfl"’"z';“:‘; from Monthly payments if desired ‘Bend for Booklet, “The Success Plan” REALESTATE MORTGAGE & GUARANTY CoRPDRATION Capital Resources § 3,400,000 24 JACKSON PLACE = BUYING CHECKED ON BOND MARKET Convertible Group Again Rules Dealings—Little Selling BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, August 5—A week of 10 per cent eall money renewal and of | 8% per cent rates for two and three high-grade bonds, so far as prices are pected. A continuation of these rates Boday fatied to bring out any liquidation. ‘The situation, however, has checked buying ‘and has stopped all new cor- poration financing except through the medium of stocks or convertible deben- tures. There were two small municipal issues today of Southwestern cities ag- xrenung $1,500,000. August promises to be a month of extremely low totals of new bonds. Convertibles Again Rule. Convertibles again ruled the market. The list was irregular. There was profit taking in some of the stock option bonds and less aggressive bidding for the others, Among the active issues Inter- mtloml ‘Telephone 4%;s made the !lw, gain, selling at 179, compared wn Saturday's closing of 174. Amer- ican Telephone 4':s had an early ad- vance of 2 points and then lost 3% | points. General Public Service gained | 4 points at 122, which compared with i their listing price of 108. Atchison 4155 rose a point, ' and Southern Pacific 4135 were up !i. as were American International 5! : American Can, I. G. Chemical 31,s, | Kreuger & Toll 58 and Lautaro 6s were | | a1l under the influence of profit-taking | 65 gained a point. | Movements in the mortgage market | were of little account. Florida East | Coast 58 fell back 2 points after gain- ing 3'; points last week. the local | tractions held the better part of their | recent advances, but there was consid- | erable irregularity in the obligations of | coal, rubber and tire, sugar, paper and tobacco companies. Forcign Bonds Down. Some of the, Italian issues and Ger- mans were fractionally lower. New low | record prices continue to be made on a number of the inferior dollar credits placed in the past two vears, especially those of countries in Southeastern Eu- rope and provinces in South and Cen- tral America. The total foreign financing in the half year ended June 30, was $486,000,- 000, compared with $435,000.000 in the last half of 1928 and with $1,050,000,- 000 in the first six months last year. SALES. Capital Traction 55—$1,000 at 98, $2,000 at 98, Washington Gas 6s A—8$1,000 at 102%}. Capital Traction Co.—5 at 93!z, 10 at 9313, 2 at 9315, Potomac Electric 6% pfd.—10 at 1127, Potomac Electric 5': % pfd.—2 at 108 10 at 109, 10 at 109‘—_-. 10 at 1097, 3 at 109': Ntamnnl ‘Bank of Washington—10 at American Secufl!y & Trust Co—10 at 457, 5 at 457. Lanston Monotype—5 at 127. Mergenthaler Linotype—30 at 105. National Mtge. & Inv. pfd.—100 at 43;. Woodward & Lothrop pfd.—1 at 105%. AFTER CALL. Potomac Electric 52 pfd.—10 at 109}3. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Telga. 472 133 Amr' Tel & 200 mer. Tel. & Tel. cil. tr. | ARontia & Por R RS offer. | Aua & ot euarss. C.& P Tel of Va. 88 | Gapital Traction R. R. 3 | ity & Suburban 3¢ | Georzetown ‘Gas T 83 | Eotomac Blec. cons, 8% Gas 63, series B in . RWy. & Elec. 4s. 8% 87 MISCELLANEOUS. Barber & Ross, Inc.. 81as 9615 | Cham.-Vanblt. ‘Hotel 6'2s 94 rins Dairy 1 107 ub 5! s [ 160" ! STOCKS. . PUBLIC UTILITY. | Amer. Tel. & Telga | Gapital Traction 'C | Balto, & Annap. ol 1473 | sh.. Balto. & Annap pfd 50 i NATIONAL BANK. National Cenital 235 290 Columbia 400 460 | Commereiai” . 80 270 230 240 330 340 235 250 420 500 G0 415 0 880 8econd 215 238 | National Bank ‘of ‘Washingion.. 306 315 TRUST COMPANY. 457 Al 800 1t 'Tu 340 M-snlnnon Toan & Trust.. 550 SAVINGS BANK. 70 80 1 (e 37 40 . 310 350 S-curln Bavings & Commer: 51! | Beventh _ Street. United States | Washington Mechanics. FIRE INSURANCE. American . gorcoran . emen’s Nationa1® U TITLE nvamtulcl Columbia Title. Real Estate Tit} 230 Title & Inv. 2 Wash. Cons. Title I i MISCELLANEOUS. 1 Inc., : 1 20 Barber & Ross, Inc.. com &8 | {1 A 3 104 20 88 99 103 23 10: anlon Monotype. Merch. Trans. Stort Merch. Trans. Sto | Mergenthale tl. Mt !. Peoples Real Est. Mix Secunity '8t Woodward POTATO TRADE FAIR. o | concerned. than might have been ex- | A 951 . > | Danish Munic 85 A | Philadelphia ‘& Reading Coal & Iron | Wachington Stock E)(changel Cuba 6% Caeeho | Denmark 438 Denmark 6 %8, Denmark 6s. 1itch East 1 6 | kinland 6% |icinland 8 Finland 7 Framerican TH%s... French 7s. French T%s. German K1 P 6% ~aNRN mhesean BN —vrw B SiRraanoenatte s ReSn:manminan - - Caanig aLonesrEnranes 1 e w Rio de Janeir Rio GrDo Sol Rio Gr Do Sui ROme 6%s........ San PauTo City Sao Paulo 1950.. Seine 7s 42.. Serbs Cr Slav 7 Serbs Crot 8lo Tokio nn Tos1 Utd Kingm 6. Uruguay 6s 1 Vienna s '62.. Warsaw 7s '58. Yokohama és. Abram&Straus 6% 10 Alleghany Cp 68 44312 Alleghany 5849 wi 408 AmAgiiChem Am Beet Sug Am Chain 6 Am Chem 5% Am Int Cor 5 %8 45 423 Am NatGas 6%s'43 1 AnBmita R 1stds. 4 Am SBugar Ref ¢ Am T&ET cv ¢145°39 ) AmT&Tcltrés.. 6 AMT&Ta1bs Am Tel & Tel b Am Water Wi Am Wrtg Pap 65'47 Armour D AtiGuif S Atlantic Refin Bell Tel Pabs B, Hell Tel Pa 58 C Bethleam Stlpm b8 1i Beth Steel rf 68 1 Bethiehem Bteel 65. 17 Bush Term Bldg bs. | Certain-Tdblasrcts 3 Chile Copper 68.... 12 Colon Ol 68°38.... o Col G&EI bs May 52 15 Com fnvest b%! Com invest Detroit Edison Dodge & Duquesne 4% East Cuba Sug 7%s #'1sk Rubber 8s.... Gen Cable 5%8 47, n Mot Ae Cor 6. » Humble VIl Humble O & K b%s. EhuraSeaniicnmy e intl Match b8 Int Mer. M: - SeoaonSe o~ Int Tel&Tel 4 58 cv 928 KanGaKesbs... | Lackawanna Stl 6s. 11 | _CHICAGO, August 5 (& (Uniled States Depariment of Agriculture).— Potatoes—Receipts, 204 cars; on track, 271 cars; wm United States shipments, Raturday, 484 cars; Sunday, 23 cars; trading fair, market slightly weaker; Kansas and Missouri, sacked Imh cob- blers, 2.25a2.50: innesota, Early Ohios, 2.50a2.60. e BUTTER EASIER. CHICAGO, August 5 (#).—Butter easier; T eeespu, 14,170 tubs; creamery extras, 42V standards, 43} extra flrsls 41842, firsts, 30‘/:-40‘ 815 Eggs unchi ipts, 3 cases:; extra firsis, sz-:w/,, firsts, 115; ordinary firsts, 20a30%2. . According to recent statistics, cathe- dral cities of England show 8 lower per- centage of crime than others. Laciede U bias 6s. . 2 B} Mout Pow: Mor's&Co 15t 4% UNITED STATES. 5 9630 9630 30 10012 100 10 100 12 . 140 10226 10220 (02 20 13 10720 1074 1074 i 1004 100% G MISCELLANEOUS. 4 1 ‘.ill‘é 204%205 8\ 103" 10z Armoui&Cod%4839 13 #9% 58% 39 Beth Steel 6% 3 63.. 10 102 THE EVENING STAR, WASHINGTON, D. C., MONDAY, CE BONDS TOCK EXCHANGE] by Private Wire Direct to The Star Office FOREIGN. Saies. Migh. Low. Close. Argentin 92 2 Argentin: 9 100 49 Argentini . 17 99 | Argenun 9% Argentind 1 4 | 5 { Argentin 1 100 941y 101% 1095 109 Aoty 100 10a 9815 100% 104 102 102% 103 105% 106% 99% 9913 8L 89% 73 100% 102% 100 9714 | Mont Trm ret b 884 98 10 9in . 100% 4 100% | NY Sus & Wn NYWEB4R Nm‘tfll.nil 85% 83 9% 174 103% 10143 ] yre Wash ist Pennsy! gén 4% 100 115 107 50 102 102'% 1% 104 MOVES JONBLED |2 g N STOCK TRADING 22 than third. g in ), however, went sharply against the group to more than three times the volume of the week before. North Am E41 No Am Ba 5% Nor Ohio Tr & L 6 Nor States Pow Nor States Pow Pacific Gas & EI 99% | punta Alegre 7 RemingtlonAr Rem Rnd 6%s war. 94% | Sinelair O1 68 Sinciair O11 6 348, 1 Sram --n.-v--u.—owugqx-unem—-»—-—uudu— 97'% | White Eagle Wiison & Lo 1 Willys-Uv 614833, WinltepeatAr 1 58, Youngstn 8 & T 5a. RA‘LRUAD. At & Birm ¢ 33 Atenison aa) 48 Atcnison gen Atch deb 4%s ¢ AuantieC L ist BKiyn Munoat 6; Bkiyn Un El b8 '8 Bull K& Hu ‘% » | favorites of that week. v CB&Qlldhs Chigt 111 g0 o8 51 Chi Gt West 43 59 CM&St P gn 83 Chi M&SLP 4% e wRannrECradonnnt e [ee¥ ('28-'29) - Ch1 R 1 & Pac 4 %! Chil M inc 63 6. Chi Un Sta 4 4. Chi Union Sta Chi Union Sta Chi Union Sta 6 Chi & W Ind cn 4 CCC&SIL 4%8 E 7 CCCasStLos D, Clev Term bs. Cuba Nor b'ai Del & Hud 1st rf ¢8. Del & Hud 78 30. . Den & Hio G o D Kio G West Des M & FitD ¢s cfs EastTennVa&Ga bs 2 {Lrieconv 43 B | Erie 18t cons ¢ ErieGen ds. ... Low (' Utilities Maintain Lead in Week’s Dealings on New York Exchange. BY IRVING FISHER. Special Dispateh to The Star. NEW YORK, August 5—Price move- ments were pretty well jumbled on the New York Stock Exchange last week. | The utilitles group maintained its leadership, with ins Wed- 3 per cent gain for the week, and clos- ing near its high for the week. Motors made a ! gain for the weck, | u 6 stocks of the 13 | }M&¥ in the group show- ing a net advance | for the week, only | 4 in the group de- clining, this group having evidently finally & ttracted after *id PG Irving Fisher, after fts = * inting per- formance of the pm'?" months. Seven of the 11 steel stocks rose and only 3 fell. United States netted about 9 points for the week. Sixteen of the 21 copper stocks showed advances, with St. Joe Lead, Anaconda and American | Metal gaining 6 or 7 points each. The ralls, although lower for the week, | showed consistent strength during the latter part of the week. ‘The compact survey of New York Stock Exchange movements of common industrial shares is given below in price indexes (1926—100). There are | two indexes of market price movement. | The first (“Shares Outstanding”) repre- | sents all common industrial shares | listed on the exchan the importance of each stock being considered accord- ing to the shares T exiciisoe, o out- standing. The second index (‘50 Lead- ers”) shows the price movement of the common industrial stocks most heavily | dealt in during the week, this list changing weekly with the shifts in trading popularity. The “Shares Outstanding” index shows what a substantially representa- tive $100- worth of stocks ip 1926 would now amount to if held unchang- ed since that year. The “50 Leaders” index shows the result of reinvesting the $100 every week in the market The last column of the table gives the rate of return on the week's 50 lcaders at current prices Rate et of . Teturn My 27- 3 9/ b 1 3. aen 0; uly 29) Quly 39) (Jan' 81 “iwen'an) (peb38) (May'39) Gains in Best Stocks. ‘The first grade or investment group of common industrials showed a price 5 amaunmaan | gain, ulnd other two grades declining htly. Below are shown index numbers of prices of common_industrials on the Ncl’ York Stock Exchange, arranged 112 | in classes derived from Moody's ratings: (Feb.38) (Reb28) (Peb. 20) 2d grade 3d grade 18t grade (invest- (inferme- (specu: (1926-100) Tent). diate). lative). Week ended— The turnover o Erlecy 55°67. Erie conv ext Erie Genessee R 6 Eirie (Fa) eiLtr 45, { kirie & Jersey Sou Ry gen 4s. Sou Ry Con Sou Ry 6= 56. Sou Ry Mo & O 4: TexArk FS 6%8 50. Tex & Pac6sC'79. 26 97 96% Third Avelst6s... 5 %1 91 Third Ave ad} bi 2 Tol Tr L&P 5%8 30 Ulstr&Del 55'28 ll-l Gr Trunk stdb 6 Grand Trunk /s GrtNorthn 4348 Great North b Great North b IntRYyCA b Kansas City 8 Coore mak Louis & Nash s Man Ky 18t 4590, Market 8t 78 4 Mill £l Ry&Lt 448 Mk ksl Ky @ L oa el Minn & Stlref 4s.. M StP&SSM cn 48. MHI!‘lSS.ilkl‘lfl PRSI P 41 1 Mo Pac 5%s ‘49 Nassau £l 48 61 104% ! Ny Cent NY CaStL 4%s I NYCniaStl o sA. 100% | Ny Cnidsils 6w NYCasSLLésA 1011 | New Haven 42 85. NY NH&H db 48 Nor pac 4148 2047 hern Fac b8 D. Read:ng gen 4%s A RioG W 1st ¢s... RIArK& La%s... StL IM&S gn 6831, St L IM&S REG 45, SIL&ESFPI4sA StL&SFray%sis. St 1,8 W con ¢s 32, StL & Sown 58 '52.. 97% 'St P & KCShL 4%s. 1064 Seaboard AL 4ssta. ll'lfi 110% Seab A L con 65, 1004 100% 7 1% M| and N Equitable Co-Operative Bldg. Assn JOHN JOY EDSON, President WALTER S. PRATT, Jr., Secretary 879 49th YEAR COMPLETED Organized 187 .$5,513,051.68 Surplus & Profifs..... 91, . Subscription for the 97th Issue of Stock Being Received SAVE AS YOU EARN E Equihblu plan of sys- ematic savings encourages thrift in a mannér that if con- sistently followed will eventual- ly lead to financial independence. Start now while you have a steady income. Come in and let us explain about our lystema'n plan. 915 F St. N.W. AUGUST 5, 1929. and Kennecott in the tter. - The average dllly value of all stocks 3,800,000, compared ‘flth $312,000,000 the week before; the figures for all common industrials were | $188,900,000 last week and $202,800,000 : the week before. | Index numbers of stock prices on in exchanges are given u.r:'l;, The 1926 average German: the second week of October, 1926, is 100 for England. S ‘Eneland. Prancs. Germany. S3ESdNesaas Investments JAMES Y. PENNEBAKER 1520 K St. N.W. * Mortgages FINANCIAL, Commodity News gal SAN FRANCISCO, August 5 (Spe- nts cial) —The spinach pack this year, “mfijfium 1A—tece, Jume recently finished, is belleved to have | Philadelphia has been of record size. Acreage for can- | consumption of a carload ning e e 15,700, compared ' hour, The shipments of fruit, 101 13, thinl year. California cans ich have been largely of the pie- 85 per cent of its spinach pack. mlldnl klnd.l, have averaged about 25 mand is strong. cars a da .—Cleveland Railway Co. gu paring to change over from dnu -deck to single-deck busses, The bus lines were created in 1925. The previous week and 8.1 per cent from a | bodies of the double-deckers, some of year ago. Since the first of the vear | which have traveled 350,000 miles, ure hey are 17,332,310 pounds lighter than | wearing out, but the Chl&!ll are still during the same period. ood and will be re Complete Investment and Brokerage Service Copy of eur “Fortwightly Review” furmished om request G. M.-P. MURPHY & CO. Members New York Stock Exchange 1508 H Street Connecticut at K WASHINGTON Telephone National 9600 Philadelphia Richmond New York Private Wires and Telephones to New York London Wcl Have Money Available For Large Construc- tion Loans, for Re- financing Apartment Houses and Office Buildings. See Mr. Cul!gn Louis P. Shoemaker 1407 New York Ave. We Buy and Sell Liberty Bonds Treasury Notes ‘Bond Department The Washington Loan and Trust Company 900 F Street 620 17th Street LOANS On Improved Property No Commission Charges EAVER BRO REALTORS 809 15th Street NW. District 9486 Mortgage Loan Correspondent Metropolitan Consult Us Regarding - Your Maturing Mortgage LONG-TERM REAL ESTATE LOANS - % We Make First Mortgages on Homes, Apartments and Business Properties in the District of Columbie y Maryland and Virginia RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue Mortgage Loan Correspondent, New York Life Insurance Compeny Decatur 3600 T Perhaps You’re Not Aware —of the fact that we maintain a fully equipped TRUST Dept. and are prepared to discharge Voluntary and Testamentary Trusts, and act in all other fiduciary capacities. 3% on Savings 27 Has YOUR Will Been Drawn? National Metropolitan Bank Oldest National Bank in District of Columbia 15th St., Opposite U. S. Treasury SATE FIRST MORTGAGES AN ANALYSIS OF SHREWD INVESTORS —shows they deem first mort- gages worthy of highest consid- eration. Good example' to fol- low. Our 69 FIRST MORTGAGES ver a Third —represent rational loans made of a on conservatively appraised im- Century proved real estate in the National Capital. Nothing could be more secure and nothing offer better return. Without a Loss You can buy them in amounts from $250 up. B. F. SAUL CO. National 2100 25 15th. St. N.W. THERE IS NO SUBSTITUTE FOR SAFETY Croesus’ Guess Conquests and unlimited power was the vision of Croesus, King of Lydia. When he asked the Oracle at Delphi if he should attack Cyrus the Oracle replied, “If you attack, a great kingdom will be destroyed.” Croesus guessed at the hidden meaning and led his army in the attack, but the Persian army de- feated him, overran his country and laid his principal cities in ruins. Many people today make a “Croesus guess” in purchasing in- vestments and often find too late that they have taken too great a chance. Wise investors select solid, conservative investments, such as the first mortzage notes issued by Swartzell, Rheem & Hensey Co., whose past record of over sixty yvears without loss to an investor makes their purchase no guesswork. You, too, can be assured of safety and a steady 69, return by making your next investment in these first mortgages. SWARTZELL, RHEFM & HiNSEY Co. MOURTGAGE BANKERS 727 15 SIKEET N.W. WASHINGEON D.C. / .