Evening Star Newspaper, August 17, 1929, Page 13

TIN CONVERTIBLE BOND VALUES ADVANC Mortgage Group Continues to Sag at Short Session. U. S. List Quiet. BY CHARLES F. SPEARE. Bpecial Dispatch to The Star. NEW YORK, August 17.—With less activity, but with the same general trend as recently, the bond mar>«t finished the week today with prices of converti- ble issues showing substantial advances along with another long list of new lows for the year in mortgages. The convertibles strongest in today's session were Atchison 4!.s, which ad- sanced 1'; points; American Telephone 4.5, American International 5%.s, Al- legheny Corporation 5s and Remington Rand 5'zs. ‘There was an easier tone in the vari- ous Cuban Sugar debentures, some of which have had quite sharp gains re- cently. Brooklyn-Manhattan Transit 6s had an early recovery of about a point from Friday's low price, but later lost most of it. St. Paul adjustments were up fractionally, but the gold 5s declined 3,, after rallying at the end of the week from 86', to 89. Missouri Pacific 4s gained a point and the convertible 51.s about the same. ere was little change in the U. S. Government list, which has been mno- tably steady since the rediscount rate was advanced. Atchison General 4s de- clined to 90, which is close to their low price on this movement. ANCIAL. Lib 1st4ys Lib 4th 43,8 U S48 1944 US4lss2. 28 9 7 10, FORE! Argentine 6aJu 59. . Argentine 6s Oct 59 « Argentine Ma Argentine 538’ Argentine 68 A.. Argentine 6s B. Australia b 1 Australia 58 195 Austria 7s. .. Bank of Chile 6 Bank of Chile 6% Belgium 6 Brazil 61;8 1926 Brazi] 6%s 1927 Canada 5% 1852.. Chil= 65 '60. Chile 6s°61. Colombia 6s Jan '61 Copenhagen bs ct. . Cuba Gizs . Danish Munic 8s B. Denmark 413s.. Denmark 515555 Denmark 6s... . Dutch East 1 6s47. Dutch East16s62.., El Salvador 8s 48. .. Fiat Ts x war '46. French 7s. French T%3s. .. German EIP 6%4s. . Some weakness was shown by Japan- ese issues and by the foreign converti- bles, with French obligations fraction- ally higher. ‘Washington T BY CLINTON COFFIN, Associated Press Financial Writer. A most marvelous and daring hydro- electric project, planned by Dexter Cooper, an engineer of more than na- tional fame in his field, and adequately backed by capital, for the utilization of the North Atlantic tides in power production is facing serious hostility this Summer. A series of semi-gov- ernmental negotiations between people | interested in the scheme, Federal Fish- eries experts, and the representatives of the Canadian province of New Bruns- wick, whose fishers represent the chief opposition, haven't yet cleared the way for a trial of the vast enterprise. ‘Though the immense power possibil- ities in the ceaseless ebb and flow of ocean tides has appealed to the imag- ination of men for centuries, practical schemes for the economic utilization on a worth while scale have been few in. deed. None of them interested man- agers of capital until Cooper published his plan for harnessing the sea cur- rents at Passamaquoddy Bay, way up in the northeast corner of the United States, between Maine and New Bruns- wick. There, where the tides rise and Germnan7s..... . German Bank 6s '3 aan 2 hreuger&Toll 55 ct. Marseille 6s. .. Milan 63, ontevideo 7s Norway 51z8. Norway 6s 1943 Norway 61, Orient dev Paris-Ly-Med 6s. Paris-Ly-Med 7s. .. Paris Orleans 51;s. Peru 6s 1960 . Peru 631961 Peruis... Poland 65 40 Poland 7s (rets). Poland 8 Queensland 7s Rhinelbe Un stE Phine Wst E P 6s 62 Rio de Janerio 63;8. Rio de Jan 85 1946. . Rio Gr do Sul 6s 48. Rio Gr Do Sul §s. Rome 613s. . Saxon (PW) 7 fall 38 feet a day, and natural con- figuration aids the designer tremendous- ly, he projected the cunning linking of a series of pools, each with many square miles of surface, so arranged that by automatic gates and dams, the tre- mendous tides would be kept falling through in one direction, spinning the wheels of properiy arranged turbines en route. Literally, he proposed to set the moon at the job of lighting citles and driving factory machines through a whole territory, and the hard-headed citizens of Maine, after a campaign of explanation and testing, voted him al- most unanimously the right to use their Jjagged shores. The theoretical total of horsepower available is almost fabulous, but doubts on the ground are few, since the engineering research and plan are most respectably indorsed. But the carrying out of the Cooper scheme must necessarily result in alter- ing the entire natural environment for fish over hundreds of square miles of bay and inlet, and the New Brunswick fishers, a most conservative people, are proving hard to satisfy. The last meet- ing, on July 24, of the North American committee on fisheries investigation, which includes officlals of the United States, the Dominion and the Canadian province most upset, was somewhat in- conclusive. Backers of the Cooper project are apparently willing to pay all damages within reason, if any estimate can be put upon these, but the fishers are certain that these bay waters the scheme would impound are the abso- lutely needed breeding ground for a lot of food Sish. They fear that if Passama- quoddy Bay is turned into a dammed and controlled channel for the simple one way rushing of sea tides, fish schools for hundreds of miles to seaward will be deprived of their spawning ground. Experts aren't ready to pronounce a verdict on what the fish need until more investigation is allowed, and the com- mittee session was merely able to “con- sider the character of investigations that should be undertaken to provide needful data and the facilities re- quired.” The tidal power project may have to wait, but is in no danger of being forgottén. This Maine seascape has been proven by the Cooper investi- gations to combine, as perhaps no other spot on the globe’s surface does, all the necessary factors for getting the moon seriously on the job. Commercial air passenger transport, now that American experience in it has ‘become extensive enough to disclose the data, is developing some idiosyncrasies. After some years of planning, railroads and air people got the transcontinental air transport going on the theory that the real commercial demand was for Jong distance movement of passengers. Though six weeks of regular operation on coast-to-coast passenger movement s perhaps too short a time for definite conclusion, it is now looking as though half the travel was going to be rela- tively short distance. The figures avail- able are pointing that way. “So far, I estimate that but 50 £:r cent of our patrons travel the full = tance from one coast to ‘the other,” Paul R. Henderson, operating vice presi- Selne 7x 42 Serbs Cr Slav 7 Toho El Pow 7s. Tokio 5s. . Tokio 5138 1961. ... Utd Kingm 5% 37. Uruguay 6s1960... 1 Vienna 6s'52. Warsaw 7s’, Yokohama 6s. . 1 MISCELLA Alleghany Cp 55 '44. 2 Alleghany 55 49 wi. 1 AmAgriChem 7%s. Am Chem 5% 5 cv 49 Am Cotton Ol 5s. .. AmIntCor5%s49. Am Smlt & R 1st 58, Am Sugnr Ref 6s. .. AmTE&T cv4i3s39. AmT& Teltrbs... AmT&TSLE Am Tel & Tel 5 Am Wrtg Pap 63 Aromur&Co43;s3 Armour Del 5%s... Bethlehm Stl pm 6s. Beth Steel 635 53.. 2: Bethlehem Steel 63, 2 Bush Term Bldg 5a. Certain-Td 5%s rets Chile Copper 5 Colon Oil 6s°38. Col G&El 53 May 52 1 Com Invest 5335°49 1 Com Invest 6s'48. . Con Coal Md 5s. ConGasN Y 53 Consumers Pow 5 Cuba Cane cv 78 Cuba Cane 8s. Cuban Am Sug 8 Det Edison 6s..... Dodge 63 Donner Steel 7 East Cuba Sug 7%8 Fisk Rub 8s. ... Gen Asphalt 65 36 Gen Cable 5338 47.. Gen Mot Ac Cor 63 Goodyear 5s rcts Hoe & Co 6% s Humble Oil 5. 2 1 17 . 4 Humble O & R5%8. 10 111 Bell Tel 5 111 Steel 4158 40 Ind Steel 5. Intl Cement b3 Intl Match 6s 47 Int Paper 58 47. Inter Paper 6s. Int Tel&Teleg 41 Int Tel&Tel 4348 cv S0 Kan City P& L 68 KanG & E 6552 Laclede G 538 52 Lautaro Nitrate 6s. Ligget&Myers 6361 Loew's Inc 6s. Lorlillard 5%s. Midvale Steel 58. ... Montana Pw deb 5s. Nat Dairy 5% Nat Radiator Nor States Pow bi dent of the T. A. T. service, said. “The balance is made up of people taking much _shorter trips. On each day's trip the planes land several times for fuel and inspection, and we are hlvln( passengers out and In at every stop. If this proves to be the habit the air traveling public, ait equipment, like rallroad equipment, will be runni only partly at capacity all of the time. Taking the last week’s record, the T. A. T. planes ran at only 48 per cent of passenger cl?nclty. though on a part of each typical journey all space W as sold. “We expect that percentage to grow higher,” Mr. Henderson commented, 4 cially since the capacity sold for the first month was only about 28 per cent. However, in railroad passenger service it has been demonstrated that during the busiest period only 80 per nt of the earrgl:g capacity of trains :: regularly utilized.” Cuba, in view “of low prices for her t crop, sugar, is now enfltfid in :l:ee:)llrl‘lgi the production of Ameri- can types of rice. Commercial Attache Todd at Havana expresses the estimate B e ity et Wil amount Cuban grown rice ¥y lt:“u.ooo tons, against 3,500 tons grown “This development &I definite aid to United States rice the Todd report added, Pacific Gas & El bs. s, iy 4 9 24 10622 —to T e L L L L DI TITT ¥ TSI R P STPIPS -~ P 2 15 b 1 3 100% EXTS et UNITED STATES. «l-.l:-l are in $1,000.) e 3 Close. 9 9 9 9828 9 230 10229 10230 10818 10622 GN. Sales. High. Low. Close. 99% 99% 99% Y% 96 100 1028, 108% | THE EVE Sinclair Ol 7s.. .. Sinclair Crude 5% Stand Ol N Y 4%, Stand Oil N J 46 Sug Eas Orlent 7 ‘Tenn Cop 6s B "44 Tenn Elec Pow 6s 941 | West Elec b 944 | Westn Unlo Wilson & Co 1st 6s. 994 | Youngstn 8 & T 5s. 16 15 7 [ v o BONDS o ] Received by Private Wire Direct to The Star O Bales. High. 101% 94 101% To% 9934 9% RAILROAG. 105% | Atchison gen 4s. 1074 | Atch deb 4358 43 1A% | ALl & Dan 1st 45 4 Atlantic C L 1st 45, B&O Toledo4s. ... Bang & Aroos 45 51 Boston & Maine 53 Bklyn Manhat 6s Buff R & Pitts 43 Bush Term con 58 Can Nat 4148 20 Can Nat 4138 68 Can Nor 63s. Can Pac deb 4s. Can Pac 445 46 Cent of Ga 65C b Cent Pac 4s. .... Cent Pac 1st 55 90 Ches & O Corpn Ches & O gen 4% Ches & O cv 4348, 3 & Q st rf bs. CB&QIN3Ys Chi Ind&L gen 5s ChiM&STP41;=C8Y. Chi MIISP&Pacse75 CMSP&Pac adf6s03. Colo & Sou 4% s Cuba’Nor 5338 cts Del & Hud 5%s Den & Rio G ¢cn KastTenn Va&Ga b Erfecvbs67... Erle Gennessee R 65 Erie & Jersey 6s. Fla East C5s 74. Gr Trunk st db 6= Hud & Man aj bs. Hud&Man ref 5 & 106% | 111 Cent ref 4s. ... i 88% |11 Cent 4853, 83% 101 1L Int & G Nor adj 6s 5 Iowa Cent rf 4s Kan City S 3s % | 35, 4 9513 | KansasCity S 86% | Lake Shore 45 31... 8% 0 90% NEOUS. 0 109% 109% 9 109% 109% 3 106 105 8 122 121% 5 981 98 4114 113% 100 99% 103 202% 8% % 90 104 32 211 8 102% 102 3 102% 102% 5 106% 104% 82 82 90 90 874 87 100 100 103% 103 6 105 104% 1100 99 6% 75 93%a 93k ks 9% 8 106% 106% 99%, 1 101% 101% 87 6% 981 984 100 87 109 102 784 | Leht Valen 4s LehiVizen 4145 2003 Lehigh Valley 58 20 Long 18 58 37. . Mil EI Ry & L 63 61. MStP&SSM5s38g1d. Mo Pacific gen 4s. .. Mo Pac 53 A 65..... Mo Pac 53 G 78. ‘2;" Mo Pac 53549 cvt. NOTex&MisB NOT&MB5%s N Y Cen gen 3348 NYCentds98..... N Y Cen deb 4 s A. it | New Haven 3338 56 NYNH&H 45 56. 1094 | NY NH&H db 42 57. 908 | NYNH&H 433s.. NY NH&H cvdb 6 Nor Pac 58 D. Nor Pac rf 6s. 106% | Ore Short L rf 4; Ore Wash 1st 48 101% | Penna gen 414 Penna 4% s 63 98% | Penna gen 5; Penna 58 64. Penna 615s. Penna gold 7s 91tk | Pere Mar 18t 48 56. . -4 1004 | str. 1388 gn 58 100% 9% 101% 101% 98 98 103 103 102 102 Y% Y 851 85 88 28 205 90% 1995 177 100% 100% 103% 103 3 103 102 5 100 99% 1100% 99% 6 106 106% 86% 864 858 7 1 » 102 100 106 99% | Sou Port EIPL 6s. StL IM&S R&G 45 94% | StP & KCShL 4% StP Un Dep bs. BAllFla Sou Pac 4 oot Pac4%s 69 ww Sou Ry gen 45 86% | Sou Ry con bs 9915 | Sou Ry 68 58. " 974 | Sou Ry Mo & O 4s.. 95% | Tex & Pac 53 B 1977 47 47 101% 101% 5112 1% 106% 106 Tex & Pac5sC79.. Virginia Ry 1st 6s. . % | West Maryland 4s.. 2 100% 99% . 23 108% 108 1947, 12 Pathe Exchange 7s. Philips Petro Por Ric Am Tob 6: Pub Ser 4%s. 3 RemingtonAr 3. Rem Rnd 5%s war. n _§- LF ] : i : E i i 8 98% 2 64 9 97 20 95% 95% Postal Tel & C53s. 11 ol 9L WisCentgn 4s49.. ), Oreg.—A for ® 101 NNTINAND O NWROR B A RN~ S A=EHNNRAN A, LSRN 2! aBaromn~ —OWHW A 20 A large Low. Olo: se. 101% 101% [ H | ; son Is Started. ‘heavy demand Northwest all sellers NG STAR, WASHINGTON, D. SUPPLIES OF FRUT | [NEW YORK CURB MARKET PLENTIFULIND. . Ample Receipts Obtained by Dealers as Canning Sea- Midsummer market conditions are re- ported very satisfactory by whelesalers of foodstuffs of every variety. “It is naturally to be expected that sales will not be so heavy when thou- sands of vacatlonists are out of the city as when practically all the residents are at home,” observed a dealer. he added, “part of the busi- ness lost because of so many persons being out of the city was made up by the thousands of tourists and other visitors here during the Summer. “Not only are sales being made to feed the visitors while here,” the mer- chant added, “but msny tourists are stocking up with food for their trips elsewhere, thereby largely increasing the sales.” Large Supplies Received. Prices of commodities changed from time to time during the week, as receipts increased to the extent of glutting the market. This was particularly true of the fruit and vegetable market, espe- clally so far as cantaloupes, peaches and lima beans were concerned, receipts of the three commodities being so heavy that shippers were advised to reduce shipments. “Tell the housewives now is the time to start canning peaches,” was re- marked by a representative of the De- partment of Agriculture. ‘“They are plentiful, of finest quality and cheap. “I know canning in homes is not carried on to the extent it was car- ried on years ago,” he added, “but for the benefit of those who continue to do canning in their homes it is well to advise them of the plentiful supplics of the frult being received.” ‘There also are other fruits in market that are used for putting up and mak- ing jellles. Many of the genuine old- fashioned damsons are being received from nearby and distant places and offered around $2 a bushel, about the price they brought many years ago, when much more canning and preserv- ing was indulged in by housewives. Crabapples, for jelly making and pre- serving, also have been fairly plentiful this week, selling around 75 cents and $1 for two-peck baskets. Grapes have been received from nearby and distant vineyards in fairly large quantities dur- ing the week, and wholesalers have re- ceived quantities of damson plums. New figs appeared in the local mar- ket this week, mostly from the vicinity of Norfolk, and sold around $6 and $7 a crate, too high a price for canning and preserving, it is urged, but prices soon will become lower, is the belief of dealers. It is stated that many fig trees have been planted in this section in recent years and receipts this season are expected to be much heavier than in past years. > Cantaloupes have been received in immense quantities throughout the week, but the green fruit, the kind used for pickling and preserving, prob- ably will not reach the local market until early Fall. Cling peaches, used largely for sweet pickling, also are ex- pected later. ‘This is said to be the best season for putting up watermelon rind, although the rind is good for such purpot any time it is obtainable, the thick rind’ being best for such purpose. Tomate Prices High. It is doubtful if there will be much canning of tomatoes done in homes this season, tomato prices having continued high most of the season. They have brought an average price of more than $1.50 for two-peck baskets thus far, ac cording to dealers, and it may be th: the late crop will be larger and prices lower. “It seems strange to see tomatoes offered in one and two peck contain- ers,” observed one of the dlder dealers on the so-called country line. “In my earlier days they were brought from farms in two-compartment boxes hold- ing a shy bushel, and I was told by my father that they formerly were brought to market in barrels, growers picking them fairly green in order to prevent them from being crushed.” Several changes in poultry prices during the week resulted in cheaper prices of chickens, and a slight easing of prices of eggs also was reported. Changes in the butter and meat markets were so slight that retail prices were not affected. Prices of other commodi- ties continued unchanged. Conditions at Municipal Pish Market this week were not much changed. Slightly increased receipts of fish were reported, and boats from the Rappa- hannock River section of Virginia landed cargoes of watermelons and other commodities. ‘Wholesalers were out in fairly large numbers early this morning looking for the first pick of commodities. and wholesalers were more than able to meet demands. Today’s Wholesale Prices—Jobbers’ Prices Slightly Higher. Butter—One-pound prints, 44%a ;:‘é’: tub, 43l2a4414; store packed, . Eggs—Hennery, 38a40; fresh selected, 38; current receipts, 32a33, Poultry, alive—Turkeys, hens, 3! toms, 83; Spring chickens, large, 28a3 medium, 27a28; small, 26a2’ 15a20; keats, young, 60a70; old, 35a40. Turkeys, 38a40; Spring chic} ens, large, 38a40; medium, 37a38; small, 35; Leghorns, 33a35; fowls, 34a3! {o:;'en, 26; ducks, 28a30; keats, 90a Meats, fresh killed—Beef, 24%; veal, 28; lamb, 30; pork loin, 34; fresh hams, 30a32; fresh sh packages, 16. Live stock—Calves, 18; 12%a13. About the time of the closing of the watermelon season at Municipal Pish Market early in September the oyster will be September 1 is the of the oyster e oot of the month of September th “J of the mont r the weather is too ,” Ob- cents for 30-35s, this week sufficlently large to enable whole- to meet demands of termed INDUSTRIALS. Hign. I Alrstocks Inv Allied Aviatior Alited Vi B s e Ehy B T L & P Brit-Celanese Lid. Budd Edw Bulova 0 s a0 R e e Q! 1 Cent & Southw Ut.. Cent Pip’ Cor. nt Pub S AL 9 Cons Auto Mer vie.. 1Cons Auto Mer pfd king pfd. 9Gen Elec Ltd res. Ger. offered around $3 and $3.50 a barrel. Soft crabs, fairly plentiful, sold around 75 cents and $1 a dozen, some smaller selling as low as 60 cents. Crabmeat sold at prices ranging from 25 to 60 cents a pound. Green shrimp of the jumbo size, re- ceived from Georgia shippers. sold at 35 cents, i cooked shrimp bringing $3 a gallon. Some small shrimp sold at cheaper prices, Lobsters, not vei plentiful, have been received in small quantities from Boston shippers this week and offered at 65 and 70 cents a und. POFail fishing in the Potomac River soon will statt in earnest, netters getting their paraphernalia in readiness to start work as soon as the weather gets cooler. Some of the small nets already are in operation and few fish are be! caught. Large quantities of rocl were caught by them the past month, but catches of the popular fish have fallen off considerably and higher prices are ruling. Few white perch, not very large, and small quantities of carp were the chief S ergig 6 ang T s it atier mer b and 7 and the 10 and 15 cents a pound. Rockfish this week sold at 20 and 25 cents, Trout, halibut, salmon, haddock, fillet of haddock, Boston mackerel, butterfish, flounders, croakers and pollock were some of the other fish dealers had to offer the trade this week. Fruit and vegetable dealers have been busy this week handling heavy receipts of commodities from nearby and distant points, some of the commodities com- ing in such large quantities that ship- pers were advised to decrease or cease shipments. Peaches and cantaloupes were the fruits that continued plentiful throughout the week, while lima beans and peppers were the vegetables re- ceived in quantities far in excess of de- mand. A'top quotation of $3 a bushel basket en Print énx., jen 400 Efl{m ‘heater Eq v rrard anere Comb' Hal d Rub .. 10 Hygrade Food Prod. ndust Finance ctf. I’ Util feou Real pfd. Long Isl Lt... '3 Long Isl Lt ‘Bid 2 Loriilard rts wi 1MacMarr Stores Memphis Nat] Gas'. 3 Merchants Mfx gec A 2 Meritt Chap & 8 pfd 9! bt Tron * 5Mid Est Utl n. 37 Midland_ Royal ¢ 2Mid W UtIl rts IMock JV ... 1 Montecat deb 1Natl Container . 331 10 Natl Container pfd.. 2 Natl Fam Strs 1 n 1 Nat Theater Sup . 1 Nat Trade Journal TN &_North. 41 Pilot Radio Tube A Bowes P & Lake m : 3 Raybestos Manh Inc: 1 Raymond Con cv pfd 70 2 Reliance Management 3 1 Reynolds M . 1 2 Reynolds Metal e R C. 31 Indus 237, Select Ind Inc 1s pid 100%s 14 Sentry Safety Control 193¢ Shattuck n _... 61 henan_Corp Sheafler Pen Sierra Pac Stkorsky Aviati Silica Gel ctfs. 13 Smith Cos evt Stein Cosmetics Stern Bros A Corp......0 8 ri Cont Corp pid. Tri Ut corp, 51 len wi.. 4 Union Amer 7Union N G n e 1920 Fasrans c weZ2EEREES ,;,:::::gnu,,wun 001 O 1 B 00 190000 48003 B 5 €<daggqdgaaddaddadaaaddca Sale MINING STOCKS. in hundreds. 10 Ariz Globe C..... 1Com Tun & Drain Wendon Cop. Sales in hundreds. ot Zwoson 5. SRR LSS eSS amans - & Sal 'ANDARD OIL ISSUES \lnltl.ml!;rll ‘SUBSIDIARIES—ST e 1800 Atl Lobos. : . 2RSS F P *® SS;"-’-:I! C,, SATURDAY, AUGUST 17, 1929. INDEPENDENT OIL STOCKS. it 2> e =5 i uSteaxts, LSS Boonis,,.: #OEES AR FINANCIAL. Received by Pri Wire Direct to The Star Office El 8s 2028 8 30 6530, 58 "5 i 551, 8512 T 921, 70 aFond 25 132 o8 33, 882 65 432 10712 A '35, 100% 1 > i ] O -m-.-:':z;ss g - 2 £ Jele] 900 37 SRR el mu s me St e 00000 900 723 a8 38 118 574 931 154 10135 8 o1l 2 Houst Gu G 6s A '43 10 Hygrade Food 6s '33. 10 Hy Food 6s ‘33 sellers 36 Ind Oil_& Gas 6s '39 1143, 14 Indian P& L 5s A e e V0222 Z: e 22.4u® 5, Choe L 2 Fgott 2 0, LEn g 22 £ ®3 58 My oM errsn B N0 e e B 1 a0 b B 0 D & 5} @20 VDY Q go3 48 75 42 94 A 2026 1027 2., 9811 K Van Camp Pek 65’ 1Wstn Newspap 65 Sales in FOREIGN BONDS. thousends, ew. ‘With warrants. o SILVER QUOTATIONS. NEW YORK, August 17 silver, 5264 ; Mexican dollars, 397. 2 i | associates, (&) —Bar i3 OLSLEAD TRADING ONEURB EXCANCE Utilities Also in Demand—In- vestment Trust Issues Continue Popular. | 4 | Spectal Dispatch to The Star. | NEW YORK, August 17.—Oil stocks continued in demand at rising prices on the Curb Market today. The oils have been about the only issues which have not been exploited, and the be- lated buying on the part of traders and investment trusts is believed to be based on this idea. Merger developments also are stated to play no small part in the sudden wave of purchasing. Gulf Oil of Pennsylvania, which_is controlled by Andrew Mellon and his led the petroleum group gain, and on heavy buying rose to a new high mark at 207. While there was | some profit taking at this level, the stock maintained a firm tone. |, Standard Oil of Ohio was actively traded in and changed hands at rising prices, at one time selling up to 76. Standard of Kentucky and Vacuum also | shared in the popularity. Electric Bond & Share remained the leader of the public utilities, and on & heavy turnover had a new top at 1351 with large blocks of stock appearing on the tape. The rights also appeared in heavy volume sclling above 11 for an- other peak price. Consolidated Gas rights continued in demand as the stock established new top ground on the big board. Activity also centered around Niagara, Hudson Power, while United Gas improvement was quiet. United Light & Power “A” was only fractionally higher in the face of oFHmlsClc remarks by William Cham- berlin, president of the company, just before sailing for Europe today. He stated that he looked for an upward trend in earnings and estimated that profits for the last six months would show a good gain over the first half of this year. Among the investment trusts there in Tri-continental, trans-America was nearly two higher compared with the previous closing. Insull Utilities invest- ment, after opening off a few points, came back with a bang to the level pre- vailing at the end of Friday's session. In Nearby Virginia Prudential 5 1/2 % lnllrlzzlzg:l::o. Commonwealth Investment Co. 917 15th St. N.W. Phone Natlonal 2623 [l First Mortgage Loans Fair Rates of Interest J. LEO KOLB | | 923 N. Y. Ave. Dis. 5027 | FIRST In 6% —vo ver a Third of a Century Without a regu Lot defin National 2100 AN INVESTMENT THAT Business nowadays requires undivided attention—so one’s investments should be such as not to occasion any concern. You will know your security is ample —and with unfailing May be purchased in amounts from $250 up. B. F. SAUL CO. THERE IS NO SUBSTITUTE FOR SAFETY MORTGAGES DOESN'T NEED WATCHING our FIRST MORTGAGES u have such an investment. larity along the ite interest. comes 925 15th St. N.W. TheDutch Pump Aboard an old-ti unruly sailor is ime clipper ship, an punished by being “given the Dutch pump.” He is led below to a hand pump, which he must keep going at full force or drown as the water seeps into the narrow pump room. Many a man today is being “given the Dutch pum ”; fighting to keep his head above water, as a punish- ment for careless investment or speculation. Those riding on the upper decks have wisely placed their savings in sound securities, such as our First Mortgage Notes, which bring an unfailing return of 6% through fair weather or foul. These First Mortgages may be pur- chased in as small denomination as $100, and such securities form the keel of most shi would do well to ps of fortune. You inquire about them as a safe place to invest your save ings profitably and safely. A book- let will be mailed upon request. egunyImesd SWARTZELL, RuEEM & HENSEY CO. MORTGAGE BANKERS 727 15 STREET N.W. / WASHINGTON D.C. | ted that the maximum pos- 5 g 3 SR . g i 2 | | ! it i { ] the Cuban consumption. t!;n of Ameflnn,:'lm varieties should have a tendency to popularize consumption.” This week's Federal reserve account- ing disclosed the expected amplification f the central banking system's sec- : ; | F % | ; : g g | Al g £ g g 1 ks : i g?.z i g E ;E% i ,5_ EE % i i | ]