Evening Star Newspaper, September 16, 1929, Page 15

FINA NCIAL. « GONVERTIBLE BOND |[o-tee vee LIST IS IRREGULAR Trading Quiet—High Coupon Industrial Group Con- tinues to Sag. BY CHARLES F. SPEARE. Bpecial Dispatch to The Star. NEW YORK, September 16—The |4 changes in both convertible and mort- gage bonds today were unimportant “from the standpoint of determining the immediate price future of both groups of securities. While the call renewal rate was lower, this is belleved to be only & temporary condition to be followed by Argentine Hny Argentine 1 Argentine 68 oe: 59 ¢ Argeritine 6% 863, . I’l Argentine Argentine Australia ON NEW YORK BONDS_@' Received by Private Wire Direct to The Star Office UNITED STATES. Lib3%s... Lib 1st 4%s. Lib 4th 41 US3y US4yss2. 175 9830 25 10 10021 10021 10021 10 106 23 10628 10628 FOREIGN. 3 lclll mm Low. Cilose. [T fil‘: 94 mm WIK |6- IG’A 0914 99% 104% 1044 107% 1074 106% 106 4% 1L% decidedly higher lending rates later in | Bol the month and throughout October. Naturally this postpones the purchases of bonds where the element of income i8 the main factor with the buyer. Convertibles were irregular at the start, with weakness in International Telephone 41is, which dropped 4 points | C: and were at one time 27 points under their recent high. Some of the day’s reaction was later recovered, American Telephone 4!;s were steadier following a decline of 11 points, with a mn recovery. Phfladelphh & Reading 6s advanced 114 points and Anmmny Cor- poration 5s a point. G. Chcmical 514, Kreuger & Toll 55, Rem- ington Rand 5';s and Southern Pacific 4'%s were fractionally lower. A significant trend in the market is that in the various high coupon indus- trial bonds. Following the heavy shrink- age in those of the Cuban supar com- panies is that in the obligations of the manufacturers of cement. North Amer- ican Cement 615 today dropped & point and are off 21 points from the high of, the year. Penn Dixie Cement 68 at 74 compated with a high of 975 this year. .Indiana Limestone 6s are ‘down_from 92 to 75. The bonds of various theater and moving picture companies, as well a8 those of tobacco company subsidiaries and small manufacturing concerns, have a limited market. ‘Today Dodge 6s declined s point under previous low of the year and at 97 colnpll’ed with the high for 1928 of about 106. A year ago they sold |I at 110. 1 There were also some new low prices among the poorer grade of foreign bonds. There was some su: ex- | I ssed in investment circles over the | K pre: offering of $8,000,000 State of Ninas Geraes (Brazil) 6)2s at 87. Last year $8,500,000 of 6138 were brought out at 97'% and since have sold a — Washington Stock Exchange . SALES. Potomac Elec. Cons. 55—$3,000 at 100, lahlngwn Ewy & Elec. 4s—$3,000 at 414, $2,000 at 84Y;. c-l%mé ':‘nctlon Co.—10 at 93, 10 at 93, at 93, Potomac Electric 6% pfd.—S at 112. Potomac _Electric 513% pfd—10 at 10615, 5 at 106%, 10 at 106Y%, 10 at wsl/.. 10 at 106, 8 at 105%. B n Rwy. & Elec. pfd—10 at STV 5 b 913, 3 &t 917, Federal-American National Bank—1 at 332. National Bank of Washington—13 at Q 305, 10 at 305, 10 at 305. Maxgegthuer Linotype—10 at 104%, 10 at 1 al . & Guar. pfd.—44 at 7%. ‘Ter. Ref. & 8. Corp.—5 at 81, AFTER CALL. Capital Traction 55—$500 at 94%. Riggs National Bank—10 at 617. Wi n Gas 6s B—$1,000 at 104%. Riggs National Bank—1 at 621. Nl’!omnll Bank of Washington—10 at Bid and Asked Prices. BONDS. Amer. Tel. & Tel Duteh East I Du!eh East 1 *|STOCK PRICE INDEX SLIGHTLY LOWER = *|Market Recovers Partially Sinclair Of1 Sinclair Ofl Sinclair O} & 102 102, Southwest Bell 14 Skelly O11 6% 91 - Stand Ofl N J 46 Stand Ol N ¥ 41, Sug Ea Ostent s. .. Transcont! Oi 8148 United Drug b8 §3., Vertientes Sug Walworth 6s *45. Walworth 68 35 Warner Sug 7s 41 West Elec b8, Westn Unfon b 9 1 101% 101% YoungstnS&T5s. 10 100 99% RAILROAD. ¢ 3 5 904T Y 155, 136%-188 Atchison adj Atchison gei Atch deb 4% Atlantie C L 1 83% 88ly 8% AtlanticCL 44864 - 044 Bk 94k B&Oovd%l.. 97 960 96% 6 101% 101% 101% 1 1 lol\‘ 10185 lflbh Bang & Aroos 4s 51, fll fll Boston & Maine Brooklyn Elev 6%4s ll 101% 100% 100% 9% 9% 99% Sl 9l 9w 92 92 92 92% W% 924 1 110% 110% 110% 1 81% Sl 81k Ches & O Corpn bs.. Ches & O gen 445, Chi B&Q gen 43 ll.- CB&Q+¢%s77B.. Chi Mi1SP&Pacbs?6 % | CMSP&Pac adj5s03 Phine wn s P RhineWst EP 7 Rio de Jai Rio de Jai 194 Rio Gr do Sul ¢ u. Rio Gr Do Sul 8 3| 11l Cent rt % | Fia East C 58 7 Chl 8t P&O llZD. . 1 8% 884 88% 1 92% 924 92k CCC & 8t L 5 Clev Term b8 Cuba RR 73 Cuba Nor b3 ct Del & Hud 5%s Del & Hud 7s 30. Den & Rio G cn 4; D Rio G West b DRG& Wst b8 78.. Erle 1st cons 4s Erie conv s A. Erie Gen 3 Erfe cv bi 2 92 Erie conv Ex 6 m 101 8 68% 63 5 103% 103 3 93% 93% 93% 2 101 101 101 6 106 105% 106% 20 109% 109 5 101% 101 101 2 101 100% 101 12 88% Gr Trunk st db Grand Trunk 7 GtNor4¥%sE Gt Nor s Gt Nor § gz NorB reen B & W 10 2Tk 27% 274 Hud & Man aj 5 18 Hud&Man ret 5 3 o 20 111 Cent ref 4. 4 874 8T 87% 5 102% 102% 102% Int Rap Tr 68 stpd. Int Rapid Trans ¢ 1at Rapid Trans 7s. | Int & G Nor 1t During Last Week After September 5 Break. BY IRVING Ill R Special Dispatch to The Sta: falling, An during the week. 'l'hamunpfluunl only su,htly below sharp and rather general re- cession on “Friday the thirteenth” with only minor noam leaving the of the is- closing int than the ek before after the recovery from the “Babson break” of Thurs- |y day the fifth. ‘e:)‘fl.lh ln“l;do the showing mov: Irving Fisher. ing sgainst the general market mkneu with strong buying believed to be ly for the fonhmmln[ Mnmn oll sl invest- ment trust. The oils group closed 9 | potnts above its close of the week betore Bit's points under its high for the vmk reached on Thursday. The motors stocks hung most of the week above the level of the week before, ralsing their weekly index, but the group closed off 3 points from the pre- Un Pac 1stref b 8 1064 loih 105% Virginia Ry 1st 6 100% 100% 100% [1 3 1004 100% 100% 5 Td% 74 74 3 92w 92 924 2 95% 9K% 954 West Shore4s61... 1 88 8 88 Wheel&LE rf 4 30 84% 8% For a Safe C., ceding week's close. x ‘week as for the week before, but p closed off G'A points from its woel'l !rom its recedln week's close. low its xfi'gho penbe g stocks used 1n the indexes lol t week lower than the mk bfim. u were up, 75 were un- changed. ‘The wh:}.cmfl!: detillxgl of lq'qlvlduu neral !mm ue,m, ufin. lu Pont, smnl !hel and 'S:ufibh cmmn, vnh twice that. vl American Machine & Foundry, with over 50 points gain; Standard of New Jersey, with 14, and Case wnh over 80 aolnu advance, were some of the sensational jumps recorded in a confused and confusing week’s actiyity. o b o A T ements of industrial shares is cow imee indexes (1926: ;w0 indexes of market The first (“shares ouf sents all common industrial shares on the exchange, the importance of each stock being considered accord- ing to the shares in existence or out- standing. The second index (“50 lead- ers”) shw. the price movement of the common industrial stocks most heavily dealt in during the week, thl.s lll! changing weekly with the mdlng pomlllmy. = outstanding” indéx “shares nmn what a substantiall nta- tive $100 worth of stocks in legfiue now amount to if held unchanged t year. The “50 leaders” I.ndex shows the nxu!c of remvuttnl the $100 every week in ites of Db s t_column of the table giv he rate of return ‘on the week’s 5 eaders at current nflul 8 101% 1018 101% |1 2° 1926 Hign ('28-"29. ) 2 4.0 Sept. '29) (Bepl’;n;(lln Low ('28-'29). 125.1 1.8 hb ) (Feb.’28) (May'20) by Irving Fisher.) Investment REAL ESTATE NOTES Secured by High-Class Improved Properties * ‘Competent Appraisals 6% Interest Consult EAVER BRO iNC REALTORS 809 15th St. N.W. District 9486 Equitable Co-operative Bldg. Ass'n JOHN JOY EDSON, President Organized 1879 WALTER S. PRATT, Jr., Secretary 49th YEAR CO! D Aswets ............$567589000 Surplus & Profits......$1695,894,08 Subscription for the 97th Issue of Stock Being Received SAVE AS YOU EARN HE Equitable’s plan of sys- l | Mor!,-.u MONDAY, SEPTEMBER 16, -1929. ed by first deed of o revs un interest Joseph I. Weller i Investments JAMES Y. PENNEBAKER Nat.'5291 1520 K St. N.W. $iru Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. ? First Mortgage Loans Consult Us Regarding Your Maturing Mortgage or Any Real Estate Financing Problem. ‘We make 3, 5 and 10 year loans on houses, apartments and business property. Located in Washington, nearby Maryland and Virginia RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue N.W. Decatur 3600 Mortgage Loan Cerrespondent New York Life Inswrance Co. ‘We have prepared an analysis of National Cash Register Company which contains a comprehensive survey of this Company’s record and present position. Copy upon request M. J. MEEHAN & COMPANY Members New York Stock Exchange 61 BROADWAY NEW YORK CITY Claggett Shares Corporation (A Delaware Corporation) Cal(sulhl St)od: “The Corporation has an anthorized capitalization of 250,000 shares without par wvalue, all of the same class, 200,000 of which are to be presently outstanding. ‘The Corporation has no funded debt «r preferred stock. hwfin--—l—-um-&hh%w.c‘.l&-b—h~ to which the benkes be entitled to from, or sell for, the of the stack of the uo-lnl-nOuob-x 1929, with a net -.EG.M $3,000,000. tematic savings encourages thrift in a manner that if con- sistently followed will even- tually lead to financial inde- pendence. Start now while you have a steady income. Come in and let us explain about our systematic plan. 915 F St. N.W. lntl:GNor-dJ‘lt 7 8 87 87! Fren IntRysCABa7a... e a IDIR)ICAI*IN( Registrar: STATE STREET TRUST COMPANY Kan City Ft 8 i s Transfer Agent: A o s = NATIONAL gHAWI'UT BANK Abrama&Straus §%s l 109% 108% Alleghany Cp 58 *44 110 108 Alleghany 65 49 wi. ll 1o For further informaiion regare the Corporation and its common stock, atiention is called to the letier AmAgriChem 1%:. z‘: "fiz“ Wl of Mr. Strabo V. Claggett, of the Corporation. The letter has been summarized as § Co., Claggett Shares Corporation has ernfluilbyllnhv.ml Business: (oo S o ine Buats of Delawive, with heoad powsrs to sequire, boi, nllundgumllyduflmmmnm.mu lh-dmium-t being restricted to any particular field. Corporation, through 'its portfolio of sound securities, vmdflhmnmammmnwmflmd-fl—uflfi‘ Shares Corporation provides the opportunity to share in stocks listed on the New York mmvmcmmmmsmmmmmm ‘The operations of Strabo V. Claggett & Co., Inc. are nrl-d.ndth.nmmcnlmlmwhkhm(m :I‘pauhwfluhm 2! 101% lfl“\ 1056 105 100% 100% 1104 109% gt Bl 1 3 i n Ry 1st 45 90. s - 100% Mill El Ry&Lt 4%s. ! MIEIRy&Lb Minn & StL ref 4 MStP&SSM5sdsgtd. Tel. Capital Traction Co. ‘Washington, MK&Toprin Mo Pacific gen Mo Pac s F 77 Complete Investment and Brokerage Service Copy of enr "Fortuightly Review” furnished ow request of securities 3. B in formed Wflumfl—k b 3. yp-ddnd- m by Atlantic Refin b Bell Tel Pa b8 B. Bell Tel Pa b3 C. Bethlehm Stl pm §8 17 Beth Steel rt bs. 1 2 Beth Steel 5%s - i mpanies requiring ad Montreal T 58 B 66 N Y Cent 45 42. 93% 95% 95% 95% 103% 103% 98 98 93 3% 102% 102% 104 104 lfllK lfllVa 7m 77;. By effecting consolidations of allied indus- wL in arder to secure grea ‘hefimm management operation, resulting hiu-udprafiumdnut«nhefor the stocks. National Bank of Washington.. TRUST COMPANY. G. M."P. MURPHY & CoO. Members New York Stock Exchange 1508 H Street Connecticut at K : WASHINGTON Telephone National 9600 - New York Philadelphis Richmond Private Wires and Telephones to New York mmfi ing basis: LMurtz.muhdndemd-mpdd 3. The bankers will year to stockholders, a chase one share for hdu%dflnutmfiuwfll m kS mfimewwfllhpfldw&n The contract between Strabo V. & Co,, I :{E);llx;lla “5‘:: poration provides that the former q:l’lfm ‘%upon ‘Trust. Con GasN Y 6%8... lt Consumers Pow §s.. 1 London M. d Directora funds and investments of the Corporation mmnmm‘ of the cu-putfi«::h:::‘:m mdnlab’ : ‘“_V. our own cm oard men m ?xp-runeed in Investment Banking, follow: STRABO V. CLAGGETT, President a-um!n-.x.a—l.c--dn-v-t Teeasarer, Chomical & Cosmotic Carp. irectoe, Metropolitan Dairy Inc. American Corcoran Firemen National Union. ot t In President, Strabo V. 'ice-President um (L ASHCROPT, HOWARD OPCONNOI. Vi ey, o Yok & C&‘c—‘"— ‘L*-V.w'—'b'hh.c D Ezchange Bank, Wash- r..—a,“'“"s.l—-p. Fedara! Board for Vocational RLES H. O i dmeon & G Tams L & Gravel reial, Natl. c& L .‘rh'i.é DIII’ Exempt from All Federal Income Taxes We recommend and ofiar, subject to $rior sale and c’mnyl in grice: To Yield Port RL&P 7%s 46. Readinggen 4%s A RIArk& L 4% RI0oG W 1st ds. StL IM&S gn 68 31.: StL IM&S R&G SIL&SFplisA.. lll Bda‘l"l%ll:‘ Dl T Gt JOSEPH M. LYDON Chicago Sanitary District oot e oy + 4Y%% Bonds .......coomvemcoanmes . .5.00%" State of Tennessee 4Y2% Bonds ....,.m-Wm‘ ...4.60% City of Detroit 41/4% Bonds ...covmersnrnransee. .- 4.60% City of Los Angeles 4%% Bopds ....... o, 4.70-4.65% ' Passaic County, N. J. 5%. Bonds .. ..cones .. 4.60-4.50% New York City 4% % Bonds .. e Dh-—' JOSEPH F. CAREY V., & Strobo V. Clagsset c..z:.n.-..u— 3 FOREIGN EXCHANGE. (Quotations mrnu::::“:{ Yflg l‘:llli.r & Co.) Cobossntion application to list this mmmflmmmxuvmcnm These shares. are offered when, & and If seceived by w, subject to the approval of our counsdl. Washingten Building " pumADELPNIA WASHINGTON BUPFAL® NA tiona! 7610 wdu. 4. 0 40 104% '104% 102 102 106% 1054 105% | S0u RY S 28 1104 110% "““ 9 98w aeve 4.35% E] {3 - = TREASURY CERTIFICATES. Guaranty Company of New York lelflfl.fll,l & W. Sel an & Co.) o e+ Shstouan, b Washington Offce: 811-15th Street, NW. 53 pec. i fil 100 Th:rr:Avn 1st b 2 9 $ o0k Telephone: ""“'T": 5818 08 qrnn 25222222 flmmmnwflh—“h-’“flwhhu