Evening Star Newspaper, September 11, 1929, Page 11

FINANCIAL HIGH-GRADE BOND | [oxsex vorx BONDS sroax excane| FINANCIAL DIVIDENDS. a . Regular, mpany. Rate. Pe; Aetna Cas & Sure 3" Bor ire In 3 PROPOSED LEAGUE d. Pavable. 1 14 Consult Us Regarding Your Maturing Mortgage By the Associated Press. NEW YORK, BSeptember 11.—New SSURSINADVANCE| et [omesmv Money Rates Still Affect Gen- eral List—New U. S. Group at Premium. BY CHARLES F. SPEARE. Epecial Dispatch to The Star. NEW YORK, September 11.—In some directions there were suggestions today of a slight improvement in high- grade bonds, despite the firmness in money and the prospect of fairly stiff rates until after the middle of the month. Various raflroad and public utility mortgage issues reflect the scarcity of supply in fractional gains on small transactions. The general average of the market. however, continues to move around the low of the year. This situation is due to the cautious building up of investment accounts in corporation mortghges by the life in- surance companies, estates and private investors, although the last named have been giving their attention mainly to the tax free securities and were heavy subscribers for the current issues of the United States Treasury 47 per cent certificates. They are selling at & small premium. They have had the effect of reducing prices for other Treasury notes selling at a lower yield, with the long term certificates and Liberty bonds also off. This week’s statement of the Federal Reserve Banks shows a further reduction in invest- ments of $15,000.000. Today's market was of about the game proportions as those of the past UNITED STATES. l (Bales are in $1.000.) Sales. Hish. Low. Close. 9719 98 28 9529 97 9719 102 16 10218 16 106 18 10616 106 13 Lio8%s.,. " 8 9719 Libist4}4s 4 9828 Lib4th4}%s 53 9831 US3%s4ed. 30 9719 USds1944 2108 US¢yss2. FOREIGN. Sales ntine May '61. Argentine 5148'62. . Argentine 65 A | Argentine 6s B Australia 58 1855, . Australia 58 1957 Austria7s..... Bank of Chil Bank of Chi Belgium 78 1956. ... Belglum 73%s. Belgium 8s. Bolivia 7 Bolivia 85 Bordeaux 6s . Brazil 6148 1926.... Brazil 638 1927.... Brazil 7s... . Brazil 8s... Bremen State 7; Chile 6560, Chi; s 61, Chile 7s 1943. Chinese Gov Ry Colombia 6s Jan "61 Con Pow Japan 7s. . Copenhagen 43%s 53 Copenhagen 5s ct Cuba 5s.,... Czecho 88 1951, Damish Munic 8. Danish Munic 8s B week and with a considerable Tatio! panmaiic iy devoted to convertible bonds. About 25 per cent of the daily turnover at present s in foreign issues, in which South Americans represent the greatest volume of trading. Convertibles were higher in sympathy with stocks. International Telephone 41,5 and American Telephone 4%zs ad- vanced 115 to 2!» points, and for a time sold at the same price. Atchison 4lis were up 115 points. The new Chicago & Northwestern convertible 4%s were quoted in the outside market at 1101 bid. The conversion price is 105. It is expected stockholders will exercise their rights and that in contrast with the Southern Pacific convertible issues there will be a few for public sale. Again today the bulk of the new financing was in the form of securities eventually convertible into common stocks. Several public utility 5'z per cent stocks are in the market and have been well absorbed on the basis of their appreciation prospects under the con- version privileges. STEEL TRADE OUTLOOK. NEW YORK, September 11 (#).—Iron Age’s market summary tomorow will say that evidence of a revival in railroad buying, a slight gain in the requirements of the automotive industry and pros- pects for a recovery in farm machinery output are favorable straws in a steel market that is still without a well- defined trend. Virtually all producers, except the leading independent, which expects to maintain a 95 per cent opera- tion through September, have curtailed output. FIRM CHANGES HANDS. NEW YORK, September 11 (A).— Purchase of control of the Claude Neon Federal Co. of Chicago, and its 19 sub- sidlary and assoclated companies throughout the Middlewest and South, has been contracted for by George L. Johnson, chairman of the board of Rainbow Luminous Products, Inc., and his assoclates. The Claude Neon Fed- efal Co. has been controlled by Samucl Insull and his associates and no public offering of stocks has ever been made. Washington Stock Exchange SALES. Waz}& Gas 55—$1,000 at 100, $2,000 at | 100. Wash. Gas 6s A—$1,000 at 10155, Wash. Gas 6s B—$100 at 103, $100 at 1031, $500 at 105!%. Capital Traction 5s—$1,000 at 95. Pot. Elec. 5!,% pfd.—10 at 106%. Wash. R. & E. pfd—10 at 977 Merch. Tir. & Stge. pfd.—2 at 107. Mergenthaler Linotype—5 at 10415, Real Est. Mtge. & Guar. pfd.—400 at 7%, 50 at 7% ‘Woodward & Lothrop pfd.—10 at 108, AFTER CALL. Wash. Gas 6s B—$500 at 10534, Wash. Gas 65 A—$1,000 at 10112, Pot. Elec. 5155 pfd.—5 at 1061%. Capital Traction Co.—1 at 94. Federal Amer. Co. com.—20 at 46%, 10 at 46%. Riges Natl. Bk.—1 at 617%%. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Wash . Balt Washington Gas 58 ‘Wash. Gas 65, series A Washington Gas 6s series B Wash. Ry. & Elec. 45 .......... MISCELLANEOUS. Barber & Ross, Inc., 612s...... Wash. Market Cold S Wash. Cons. Title 6s STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. Capital Traction Washington Gas. riolk & Wash. Wash,, Balio. & An. com G NATIONAL BANK. TRUST COMPANY. merican Security & Trust Co. ‘ontinental Trust. 1 B erchants = 5 15214 ational Sav 8 81l DUnion Tru: 3 Washington 550 80 Commerce & Sa e East_Washington e 40 ac ELERTY saviiie B Seventn Street nited States . Washington Meéchanics .. FIRE INSURANCI American TITLE INSURANCE. jtle & Inv. of M ;lnh. Cons. rber & Ross. Inc. hevy, Chase ‘:0 Ve *Ban i mmercial 106 per Natl. . C. M trict Natio eral nston - Menotype. erch. Trans. & Siorage zerch Trans & Storare ofd. Ietlunthl\et Linotype. atl, Mtge. & I Denmark b8 Denmark . . DEI 5%s Mch 63. Dutch Last I 6s 47. Dutch East 165 62. Bl Salvador 8s 48 Fiat 7s war 4 Fiat 7s x war '46. Finland 5%s. Finland s £ 6845 Finland 7s...... Framerican 7% French 7s French 7% . German Bank 6s '3 Ger Gen Elec 7 German Ts. Greek 6s 19 . Irish Free State 5s.. ltaly 7s. . Italian Pub S 7s. Japanese 4s. Japanese 615 Kreuger&Toll 55 ct. Lyoas 6s. .. Marseille 6s. Mexico 43 10 asnt., Milan 6%s...... Netherlands 6s 72, New So Wales 57s. ., New So Wales 58 Nerd 6135, Norway 5s 1963 Norway 534s.... Norway 6s 1943 Norway 6s 1944.... 3 Norway 6% 1952., Orfentdev 638 58. Paris-Ly-Med 6s. .. Paris-Ly-Med T7s. . Paris Orleans 514s. Peru 6s 1960, . Peru 6s 1961. b Poland 7s (rets). Queensland 6s Queensland 7s. Rhine Wst EP 65'52 Phine Wst E P 6s 61 RhineWst EP 7= 50 Rio de Janerio 638 Rio de Jan 8s 1946. Rio Grdo Sul 6s 48, Rio Gr Do Sul 8s.. . Rome 63%4s..... B on B woanumaukanBren Buanrvemna~ane Sao Paulo 8s1936. . Sao Paulo 1950. .. Saxon (PW) 7s. Seine 75 42. Serbs Cr Slav 7s. Serbs Crot Slo 8s... Shin Sweden 515, Sweden 6s..... Swiss 545 1946. Swiss Confed 8s. Toho El Pow 7s. Tokio 5s..... Toklo 5%s 1961..., Utd Kingm 535 37, Utd Setam Copen §s Uruguay 6s 1960... Uruguay 8. Vienna 6s Warsaw 7s " Yokohama 6 0 Alleghany Cp 55’44 78 Alleghany 5s 49 wi. 93 AmAgriChem 7% 1 Am Int Cor 5%s 49. Am Chem 5358 cv 49 Am NatGas 6%s 42 Am Smit & R 1st 58 Am Sugar Ref 6s. Am T&T cv 4% AmT & T cl trbs AmT&Tst6s.... 27 Am Tel & Tel 5%%s. Am Water Wk 5s. . Am Wrtg Pap 6s 47, Aromur&Co414s39. 7 Armour Del 5%s 2 Associated Oil s Atlantic Refin 5s. Bell Tel Pafs B. Bell Tel Pa5sC.... Bethlehm Stl pm 58 Beth Steel rf 58 Beth Steel 5145 53.. Bethlehem Steel 6s Bklyn Bdison 5s. . . ‘Bush Term Bldg 5s Certain-Td 535 s rets Chile Copper 6s. ... Colon Oil 6338 Col G&F §s May 62 Com Invest 6348 "49 Com Invest 6s"48.. Con Coal Md 5s.... Con Gas N Y.5%s.. 2 10 Det Edison 6s. Dodge 6s. . Donner Steel 78 Duquesne 4145 67. . Fisk Rub 8s....... Gen Cable 5168 47.. Gen Mot Ac Cor 6s. Goodrich 6%s. ... Goodyear fs rets. Humble Ofl 5s. ... Humble O & R5%s. 111 Bell Tel 6s. ..., 111 Steel 4155 40. Ind Steel 6s. ; Inland St €148 78" nt] Cement 548 intl Mateh Tnt Mer Mar Tnt Paper 68 47 Inter Paper 6 Int Tel&Teleg 4%.. 4 Int Tel&Tel 4345 cv 323 Kan City P& L bs.. 102 29 105% 1 10 99 10 80 89% 894 9719 98 28 9826 19 MISCELLANEOU! 109% 105 26 100% 8 102% 3% 4 100% 1 100% 17 104% 12 104% 36 101% 3 106% -8 90% 3 99% 8 100% 9L 211 3 101% 1103 1 101% Lou Gas &'El s 52. Manati Sugar 738, | Midvale Steel 6s. .. Montana Pow 5s 43 Montana Pw.deb 6s Mor's&Co 1st 4%s. Nat Dairy 5%s. i NewEngland Tel5s Pacific Gas & E1 Pao T A TGS, 5100 6 1044 . 39 1 % 10¢ 110% 110% 4! 01% 2 101 High. Low. Close. e i 99 99% 99 §0 ' 4 1024 Pan Amer P Paramoun | Phila Co 58 67 Philips Petro 5% Por Ric Am Tob 6s. Postal Tel & C5%s Pressed Stl Car 5. Rem Rnd 5%8 w. Sinclair Ol Sinclair Ol 63 Sinclair Ol 78..,... Sinclair Crude 8% s | Sin Pipe Line b; kelly Oil 5% 4 o Por Rico Sug 7s. Southwest Bell 5, Stand Ol N J 46. Stand OIl N ¥ 43 Sug B3 Orfent 7s. ., Tenn Cop 65 B '44, Tenn Elec Pow s 4 Transcontl Oll 6% s United Drug 6s 63, U'S Rub 1st rf bs. USIRub7%s....., USSteel s £65.. .., Utah Pow & Lt s, . Ctilities Powr 6% Vertientes Sug 7s.. Walworth 6345 35.. Warner Sug 78 39. . West Elec bs. . Westn Union 58 61, Westn Union 63%s. White Eagle O 53 Willys-Ov 6%s 33, Wilson & Co 1st 6s. Win RepeatAr 7 Youngstn S & T bs. Ann Arbor 4s Atchison adj 48 As&SK cvt 45 05, Alchison gen 4s. Atch deb 4%s 43, B&Ocv4%s, B&Orfbs. Boston & Maine b Bklyn Manhat 6s. . Buft R & Pitts 4%s Bush Term con 5s.. “an Nat 4%s 30. nNat4ios 54, Can Nor 41,5 1935., *] Can Nor 6135, Can Nor Ts. Can Pac deb 4s. . Car Clin&Ohio 6s Cent of Ga 5sC 59., Cent Pac 1st bs 90. Ches & O cv 414s. .., Ches & O gen 434s.. Ches & O 4135 93 A. Chi & Alton 333s. .. Chi B&Q gen 45 53, CB&Q4%s77B., CB&Qistrf s, CB&QII3%s. CB&Q 1l div 45, Chi&E 111 gn 58 51. Chi Gt West 45 59 Chi M&StP 4358 Chi MiISP&Pacss7 CMSP&Pac adjbsud ChiN W 4338 2037, Chi& NW is. . Chi RYS 58..00uu.. Chi R1& P gn 4s ChiR1& Prr ChiTH&S K §s. .. Chi Union Sta o5 44 Chi& W Ind cn 4s., £ W15%ss62..., C&StL deb 4% Clev Term s. . Clev Term 513 Cuba R R 5s. Cuba R R 74s. Cuba Nor 5135 ¢ Den & Rio G cn ¢, D Rio G West bs.., DRG & Wst 5578, Erie conv 4s A. Grand Trunk 7s. .., Green B & W deb B, t Gt Nor gen 7s. Hud & Man aj 5 Hudé&Man ref 5 111 Cent ref 4s. il Cent 4% s 66 1il Cent Chi 434s. .., Int Rapid Trans 58 Int Rap Tr 58 stpd Int Rapid Trans 6s, Iat Rapid Trans 7s Int & G Nor 1st 6s. . Int & G Nor adj 6s 6. Kansas City S 5s. Kan City Term 4 Lake Shore 4s 31 1091 | Lehi Valcn 4s... 105 | Louis&Nash uni 112% | Market St 7s 40 118 | Mill E] Ry&Lt 4%s. 82 | Mil El Ry & L 65 61. 100 | Minn & StL ref 4s. . 02% | MStP&SSM5s38gtd. M StP & SSM 6% 109'% 46 102% 102 1025 | 3p e K&T4sB % 102 MK &T prin 5 77 sG 78 864 | Mo Pac 5348 49 evt. NOTex&M5sB.. 100 INOT&ME%s 215 102% | N Y Cen gen 348 103% | N Y Cent 45 42 100%{ N ¥ Cen rf 6s. 100% | N Y Crf im 434 104% | N Y C & StL deb 104% INYC&StL5%s A, 102% | N Y C & StL 63%s B. 100 NYC&StLésA 76 N YOntWist4s.. 937 | New Haven 31;s 54, 96 N laven 4s H& H4algs, NY NH&H cv db 6 901 | N Y State Ry 4345, 851 [ NYState Ry 6148 62 NYW&B4Y%s. Norfolk & W cn 4; Nor Pac 33 2047. 991 | Nor Pac 4s Nor Pac bs Nor Pac rf 6s Penna 55 64... Penna 6%s Penna gold 7s. Son | Peo& Bt 4540, 10015 | Eere Mar 1st 4556 Pere Marq 1st bs. 101% | Port EI P L 6s. 1018 106% ' 81 |Port RL&P 6843, 6%, 1041 | Port RL&P 7145 46. 100 | Reading gen 4%s A 100 | Reading J C4s51.. A. SIL&SF4%s78.. StL &S F prin 68, St L&S F gen 6s 31. Seab AL ref 4s, Seab AL adj 53.49. 85y | Seab AL con 6s... 101% |SBAIl Fla 6535 A, Sou Pac ref 4s. . 81 |Sou Pac 43,8 rcts. 99% | Sou Pac 435 69 ww 1004 | Sou Ry gen 4 Sou Ry con §s.. 974l 6% | Third Ave adj 1900 Lm0l Tr Ler RAILRO. 32 Phila & Read 6849, AmEOEREEN® 22 1 s B or - T e T P T 9 b o) Bt ORI N B RS E I B B R NBR AR Ao~ —E SO0 CEREABAN e 0 ; WA B~ AN MO B E RS Sy - Lomo~ cabol-ini AD. 7 Sales. High, Low. CK 9 109% 10! 109% 27 100% sala 95 96 101 108% 100% 82 B6Y% 100% 7% 964 106 o4 92 99% 9204 { in_the neighborhood of 5,000. MAY HELP EUROPE -5 =: {Briand Suggestion of Unity in Trade, Considered by Other Nations. BY JOHN F. SINCLAIR. Bpectal Dispatch to The Star. NEW YORK, " September 11.—A Geneva hotel: Aristide Briand, Gustav Stresemarn, Arthur Henderson, Ed- ward Benes at lunch. So were 21 other forelgn ministers and two other prime ministers, representing as many European countries. Then the statesmen of the 26 other nations listened tosthe eloquent Briand of France outline very briefly his plan for a “United States of Europe. Aristide Briand is human—very hu- He has a well developed sense ews and knows the value of public- ity. “And so between a-pear and some cheese, we laid the little cornerstone of a European federation; discreetly, be- tween a pear and some cheese—which doesn’t, you know, diminish at all the importance of the event,” sald the French premier. The subject intrigues, Here are 400~ 000,000 people, living in 32 separate and distinct national compartments, each working furiously to build its own na- tional life. How? By raising tariff wall high enough to keep out the goods of every other country, while at the same time attempting to sell goods every other country. The idea is not new. Every nation works largely on that plan. The United States s no exception. Can a federation of Europe be made effective without alienating national sovereignty in some degree at least? ‘Aristide Briand, the optimist, believes it [T can. Gustave Stresemann, the practical German, doubts it. Arthur Henderson, the Englishman, interested in labor, isn't concerned about that. He sees its value in forcing better social legislation for the masters—such conventions as the eight-hour day. o Dr. Stresemann suggested that “a unl; form money and uniform postage stamp'’ within the realm of possibility. more prosperous Europe will help | —not hurt—the rest of the world.” Not a voice was raised against the ideal, but William Graham, president of the British Board of Trade, makes the most practical suggestions. (1) Let the European countries agree for a period of years not to raise the; tarift walls above the present levels. | (2) Then during this time study seri- ously how to further reduce tariff walls and expand the national trade of na- tions. The next meeting, to be called by the | French premier in two or three months, should mark another milestone in Eu- Tope’s returning power. John Ringling, by his purchase of the American Circus Corporation, has ful- | filled a life ambition to become the greaiest showman in history—greater even than P. T. Barnum—for this cor- poration now owns the Sells-Floto cir-| cus, the Hagenbeck animal show and | the three shows known as the John| Robinson, the Sparks and the Al G.! Barnes. Not only does he become the first showman in the world, but he becomes a very large employer of labor. The Ringling Bros.-Barnum & Bailey Circus | employs about 1,600 people. With this new purchase John Ringling adds to his staff about twice as many more persons as he has at present. For the total em- ployes in the new organization will be Ringling Bros. began their careers as showmen at Baraboo, Wis. There were five brothers—Charles, Al, Otto, Alf T. and John, who has always been the leader. Today John alone remains. The father of the showmen was & harness maker in the little Wisconsin town, and was kept busy supporting a family of eight children. It was in the late 70s that John, with $1.30 in his pocket, walked to Abel- man’s, five miles away, through one of the coldest of Winter mornings, to give his first performance. The four brothers followed next day. The first year was a hit-and-miss af fair—tough. No money, no credit, no friends—no town boosters. But the next year, touring the North- west, was better. They netted $300—or $60 each. In Minneapolis, they each in- vested $20 in new outfits, and returned to Baraboo with new suits and silk hats. The town took & day off to celebrate the return of the heroes. The next year saw the one-ring tent show. The brothers themselves were actors. John was a singer and a clown. He was not so heavy then as he is today. They prospered. In 1906, Barnum & Bailey circus was purchased for $410,000 and merged. As the years rolled on, the brothers died. Now John only remains. And in- stead of the clown of 40 years ago, we see instead a kindly quiet man in the late 60s, shrewd, successful—but ever on the lookout for the novel, the unusual, the spectacular. John Ringling, in his field, has no more worlds to conquer. Corn belt farmers in America should be interested in this. Prof. A. M. Bus- well of Illinois, speaking before the American Chemical Society at Minne- apolis, made this extraordinary state- ment about corn stalks: “A farmer could produce enough gas to supply all the needs of a family of four or five from a tank of corn stalks eight feet in diameter and eight feet deep, connected to the household drain and acting as a digesting tank for the household wastes.” This professor, whose statements are being followed very widely by farmers In the corn belt, goes further. An average Iowa corn section having a diameter of about eight miles can pro- duce enough corn stalks to supply the “usual gas consumption of a city of 80,000 population, figured at a daily rate of about 25 cubic feet per capita.” For g ton of corn stalks will yield from 10,000 to 20,000 cubic feet of gas. The difficulty about using corn stalks for paper making has been the trouble in getting rid of the pith in the stalk. Under thic new process the corn stalk pith itself is turned into gas, thereby making the original corn stalks more to | Oswege Ravon of. | Pinan_Invest. :§827 fEEEIevERY PovEls oMt i B B rmracn ‘o deasirararans, i 338 bt 1 bt a4 Eastn_Roiling ‘Mii Emp Deposit First Nat Bk (N ¥, Forem DAiry ev pf. Praser Cos, Ltd Gen Baking pf f Gen Mills pf. ... ""$1.50 Gen Printing-ink."62sc . I 50 Holly Oil’" Ind Accept %% Do. 2d pf. Tlinots Power & 'Lt 10 ELELETLTE bl 222! 358 . D Linde Alr Marion 7% pf. Marlin-Re Merrimac_Chem. Midland Utilities 6% len .£1.50 ] Do. 7% pf A.....$1.76 Morris (Ph) Co, Ltd 25¢ Nat Batter: 8¢ h Am K Phoenix Fire Ins. ... Prophylactic Brush. Public Nat Bank. Singer Mfi_ : Skennadon R 1.7 Southw Dairy P pf.$1.78 Stand Stee] Spring Water, Lt 5 Brn BB B Baaaa 3 Explor Un Tel.. ... 52 Willys-Overland " pf.1.75 23e3 E e = < 0000D D £OOOOO DOOOOOOOOOODOOODO DOO DOOOO DODOOCOOOOOOPOLLOOO0O | COOD DOLOOOOOLO OOOOOD OOP; (o W88 e Singer Mfg...... Thompson Prod A DO B e Initial. Bronx Cy Trust. new. 40c Campe Corp ...50c Q@ Girard Trust, new... Liberty Share Corp.. Second Founders Shi e e Waltham Trust, new.50c Accumulated. Rutland R R 7% pf, . 32 Acc Oct. Wahl Co pt. -.137% Acc Oct. Stock. Ld...2% Founders Hidg, new.2'a Ziperty Share Corp. 3% Oct. Oct. 1% Tnvest ' #100% Pders Share.1% Omitted Duluth Street Ry pf...1%% Q Income OIl & Rovaliy. . .2c @ Due en. 15 ¥Subject to approva olders. tIn- B l;n:znhlnk and 520 on First Se- Mohawk Second oct. 1 Due Oct. 1 cludes $5 on curity Co. *1 CHICAGO DAIRY. MARKET. CHICAGO, September 11 ().—Butter steady; receipts, 6,413 tubs. Greamery, extras, 44; standards, 43; extra firsts, 42a43; firsts, 39a4013; seconds, 37a38! Eggs steady; receipts, 9,198 case: prices unchanged. Poultry, alive—Hens easier, Springs steady; receipts, 2 cars, Fowls, 20; Springs, 26a27; No. 2 Springs, broilers, 27; roosters, 21; turkeys, 20a 30; ducks, 18a21; geese, 19. First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. First Trust Notes at 6% interest for sale at par and accrued Interest Tyler and Rutherford, Inc. 1520 K Street National 0475 Buy Bonds at Present Prices for 6% Return and Possibility of Profit Monms of high money rates have forced bond prices to levels where it is now possible to select a well diversified list, on which the yield averages over 6%. Our current lists of bond and short term note investment sug- gestions include 92 issues on which the average return is over 6%. Send for copies THE EQUITABLE SECURITIES COMPANY INC. A subsidiary of The Equitable Trust Company of New York STANLY CARR, Representative 922 Fifteenth Street N.W. ____WASHINGTON,D.C. ___ It's the INVESTOR Who valuable for paper making. Public utility operators of power plants, as well as paper manufacturers, should- be keenly interested in such a statement. But for the farmer—it is a new vision and a new earth. (Copyright, 1920, by North American News- paper Alliance.) . Increase in Loans. By the Associated Press. National banks in 101 leading cities of the Nation, as reported by the Federal Reserve Board, recorded an increase in loans during the week ending September 4 over the pi week and corre- period last year. Of last repor week's loans, $7,632,000,000 were on securities, and “all other” loans ;Ith “,'DW,M and $11,000,000, re- $=='-——'— Sales Low, Close. k1 7 Wins Financial Independence gotes and bonds p S roperties in Washing: 4 per cent bonds, dated securities offered y_include: ‘The Starrett Corporation, $15,000,000 6 per cent cumulative $50 par value preferred stock (with common stock purchase privilege) at $51 a share and accrued dividend. Offered by Brown Bros, & Co. and G. L. Ohstrom & Co. and others, Sterling Securities Corporation, 300,- 000 shares $3 dividend cumulative con- vertible $50 par value preferred stock at $54 a share. Offered by Insuran- shares Corporation and Hayden, Stone Co. Boston Personal Property Trust, 50,- oo? :o-pn benelfllc“tll mmg& r‘e’:iuia‘ priced upon application. e Jackson E;o Curtis. i General Gas & Electric Corporation, 150,000 shares $6 cumulative convertible preferred stock, series B. Priced at $99 a share and accrued dividend, yield- ing 6.06 per cent. Offered by Harris, !"‘oxgzl Corporation and Lee Higginson City of Seattle, Wash., $1,220,000 5 October 1, 1929, due serially October 1, 1931, to 1950, inclusive, priced to yield from 5.25 per cent to 4.70 per cent, and $500,000 41¢ per cent bonds, dated October 1, 1929, and due serially October 1, 1931, and 1959, inclusive, and priced to yleld from 525 to 4.65 per cent. Offered by Bancamerica-Blair Corporation and Eld- redge & Co. By the Assoclated Press. NEW YORK, September 11.—A. L. Eberhart, for many years connected | with the packing industry, has been | elected vice president in charge of op- erations of Adolf Gobel, Inc. | Stocks of crude rubber in dealers’ | hands at leading Malayan ports were | lower at the end of August than a | month ago, the Rubber Exchange of | New York has been informed. The | amount on hand August 31 was sivani as 33,576 tons, as compared with 36,651 at the end of July. Based on the consumption of elec- trical energy, manufacturing operations of the country in August registered a drop of 0.6 per cent from the July fig- ure, but recorded a 6.1 per cent increase over August, 1928, it is shown in re- ports received from 3.600 manufactur- ing plants by Electrical World. All sec- tlons of the country reported a higher rate of operations for August than for the same month last year, the South leading with a 17.7 increase. | More than 250 bankers from the At- lantic seaboard, en route to the fifty- fifth annual Convention of the Ameri- can Bankers’ Association in San Fran- cisco at the end of the month, will leave here tomorrow on two special trains on a 10,000-mile tour of the West. Shipments of iron ore from upper lake ports to inland furnaces up to September 1 totaled 43,717,737 tons, a | new high record, compared with 32 517,693 tons in the same period la year. The previous high record of 39,- | 334,264 tons was established in 1918. P R ‘Three of every five automobiles in Rumania are from America. Mortgages Investments JAMES Y. PENNEBAKER Nat. 5201 1520 K St. N.W. LONG-TERM REAL ESTATE LOANS 5%2% ~ 6% We Make First Mortgages on Homes, Apartments and Busines roperties in the District of Columbia and Nearby Maryland and Virginia RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue Decatur 3600 Mortgage Loan Correspondent, New York Life Insurance Company Equitable Co-operative Bldg. Ass'n JOHN JOY EDSON, srrfllden‘ Organized 187! Assets .. +e...$5,675,899.10 WALTER S. PRATT, Jr., Sec 49th YEAR COMPLETED Surplus & Profits......$1,695,894,08 Subscription for the 97th Issue of Stock Being Received SAVE AS YOU EARN HE Equitable’s plan of sys- tematic savings encourages thrift in a manner that if con- sistently followed will even- tually lead to financial inde- pendence. Start now while vou have a steady income. Come in and let us explain about our systematic plan. 915 F St. N.W. Every mortgage offes DENOMINATIONS OF $280 AND UPWARDS Protected, Secured and Insured INTEREST CHECKS RECEIVED BY INVESTOR THE DAY THEY ARE DUE e red by us is of the very highest class, for all are selected by expert appraisers, whose expericnce end knowledge of conditions are a most dependable guide. po S5 PHELPS Founpep 1907 an (’orra:zqonéont‘ ) ifi;flg‘gé: A Mutual ife Inrurance Co. National 9300 Shaded areas served by the Associated System Public Service to a 235,000 Population on Long Island Patchogue, Suffolk County, is the trading center of two-thirds of Long Island. It is served with electricity by an Associated System plant which has operated continuously since its estab- lishment in 1887. Far Rockaway, only 36 minutes by train from Manhattan, and adjacent communities in Nassau County are supplied with water by an Associated System property. Nassau and Suffolk Counties had a 48% increase in popu- lation from 1920 to 1925 compared with a 14% increase for the suburban area within 50 miles of New York City. New York’s Fastest Growing Suburban Area Long Island, larger than the State of Rhode Island, is New York's fastest growing suburban area. It has 300,000idle acres, and can accommodate ten million people, three times its pres ent population. Long Island has: 600 miles of shore line and 200 miles of sandy beaches. More golf courses and country clubs per square mile than any area of its size in the world. 160,000 acres in farms with a crop value per acre 3.6 times that for the United States as a whole. The ease of access to New York City, the nearness to the _sea and the prospects for enhancement in value, make a Long Island home an attractive investment. For further information write to Associated Gas and Eléctric System . 61 Broadway fimis New York City m:afiénummuhummnamlmdmwm