Evening Star Newspaper, October 10, 1929, Page 15

E-::,g..‘_m.. e T2 f." " “‘-fl'“" 50% 5’0?! “'l:‘ m The eumglu ear end- 18,1 of 9% Offered The Standard Coliateral Shares Corpora Metropolitan 3783 Woodwara Bids We Recommend Mutual Investment Trust Class A Certificates at the market Analytical review sent on request Kynaston & Company Investment Bldg. Met. 5334 Real Estate Loans Applications invited at lowest rates and commission —econom- ical consideration for borrowers. Both large and small loans negotiated— prompt replies. Moore &Hill, Inc. (Since 1900) ‘%30 17th Street N.W. First Mortgage Loans Applications Invited at Current Rates of Interest Glover'fi? Flather 1508 H St. N.W. National 1753 Consull Us First ou need money for eal ‘Estate financing |u have your application today. Prompe Service No lpmhll Fee The Commerciat National Company raie o m 900,000 Commereia) nman Sand Bids. wom donn— 'Safety First for Principal. YOU CAN INVEST WITH CONFIDENCE IN OUR FIRST 6% MORTGAGE NOTES DEROMIATIONS, OF 10 INTEREST =gk TS ORR Fue B4 Do”"‘,,','!flrs Underwriters » Distributors INVESTMENT SECURITIES Wasuincron Orrics 737 15th Street N W, Telephone, Natwnal 1253 Maix Orrica - Bartinons BONDPRES RN | (o= = BONDS s Private Wire Direct to The Star Office INAGTIVE MARKET Senior and Junior Rails, Utili- ties and U. S. Issues Are Strong. | | | | Special Dispatch to the Star. NEW YORK, October 10.—In the) face of an actiye stock market and | the consequent tendency to divert funds from mortgage investments, the bond ; market today maintained its recent | gains very well. ‘The firmn a few advances | sprinkled here and mm. was most | Rinior: i high-grade. utinty bonds and junior, - utility an ‘in United States Government obliga- tions. Foreign loans were weak. Those bonds with stock-conversion features followed the stock market and showed, a rising tenden American Telephone and International Telephone 4125 were up 3 to 7 points. Other convertibles such as Atchison 4%s, American 1. G. Chemical 4155, American International 51gs, the Allegheny S8s and Philadelphia & Reading 6s fol- lowed suit. Gains among the railroad descriptions included Atchison 4s, New York Cen- ! tral refunding 5s, Pennsylvania 4%s, | Union Pacific first 4s and new ds, | Northern Pacific 4s and Canadian Na- tional issues. Strongest among the junior rails were St. Paul adjustment 55 and Chicago, Milwaukee & 8t.; Pau! 4!, | In the general list Walworth 6%s | were up 1'% points and Remington Rand 515s nearly a point. Othcr strong issues were Goodyear 5s, Chile Copper 5s, National Dairy Products 5, | Armour of Delaware 5':s, Consolidated Gas 5%s and most of the oil bonds. The offer ‘and iminediate .sale of $10,200,000 New York Central Railroad equipment 4°s is the most stimulating influence that has come into the high- grade railroad market in months. Naturally, with the long-term maturi- ties quoted on a 5.15 basis, or exactly 1 per cent higher than that at which the same bonds were selling a little over a year ago, the demand from banks and corporations as well as private investors exceeded the supply. For the first three maturities it was possible to obtain a yield ran, from 6 to 5% per cem In view of the success of this issue it may be possible soon for some strong corporation to bring out a 'good mort- gage issue on terms that will find a rem market and permit it to sell at a premium. In the foreign list today the chiet weakness was shown in South American | obligations. Canadian, British, Irish and German bonds were slightly hl(her Washington Stock Exchanqe SALES. (hplt:'ll Traction 55—$1,000 at 90, $1,000 . Chesapeake & Potomac Tel. of Va. 5&— $2,000 at 100, $1,000 at 100. Potomac Electric 6s 1953—$3, 1'00 at 107%, $1,000 at 1075, Wumngwn Gas Be—u Gas 6s A—Slool? ‘at 101, 31000 at 101. Wasi nGllBsB—ilOOOltlfl ion Co.—20 at 85, W:;%nlmn Rwy. & Elec. pfd.—10 at District. National Bank—20 at 227, 10 al n.d‘cx";{'-AmeMn National Bank—10 National Bank of Washington—1 at 5 at 305. o) s AFTER, CALL. Washington Gas 6s A—$3,000 .z 101Y, %pflll Traction u—-u:oo - Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Tel ‘Ame; Am. Anacosi «33332338: Second National ‘Banuk ot Washington. TRUST COMPANY. American Security & Trust Co. Continy Tru : c Becurity Bavings & Gommercial 5 Beventh Street. United States. . Washington Mechanics' FIRE INSURANCE. American TITLE INSURANCE. Columbla Ttle. . Real E f 'Md. com . £ Wash “Cons. Tidle pidr .. MISCELLANEOUS. Barber & Rors. Inc. com Chevy Ghase Dairy pid. ol Bang & Gravel pid Commercial Naz reaem Siorae pid IINlTED ITATES. (Sales are In $1.000.) Sales. High. Low. Close. Lib3%s... 37 9715 974 9715 Libist4y%s 2 9815 9813 98!5 ibathaiis 97 9819 9816 9819 S3%s47. 1 972 972 972 S3%s... 50 10020 100 19 10020 7S4s1944 5 101 103 (03 S4yss2. L u [§ i u 71107 106 26 106 30 Sales. Pan Amer Pete 6s. . Paramount 6s 1947, Phila & Read 65 43 Philips Petro 6%s. l &CsH ! Pressed Sti Car | Punta Aleg # Rem Rnd o4 war. FOREIGN. . Low. Close. 90l 904 ¥y T 97T 9% 974 94 9 994% 100 984 984 84% Ar(enlln 58 Argentine Argentine 964 b 1004 99% % 1011y 108% Helgium 7s | 107% 107% Belgium 7s 1956 105% 4% 108% 9% 99% 99% 8% 1% 102% Bremen State 7s Canada 55 1931... Canada 5s 1952. Chile 63°60. .. Chile 6561, Chile 7s 1943 Chinese Gov Ry 6. Calombia 6x Jan ‘61 Con Pow Japan 7x. . Copenhagen 4% x 63 Copenhagen s ct. . Czecho 8x 1951 Danish Munle Denmark 4%s. Denmark §%s 56, . Denmark 6s....... DEI 6538 Meh 53.. Dutch East I 63 47. Dutch East 1 El Salvador e G PR e A S mrannnea - =5 &% Inpanese §3% Kreuger&Toll Lyonss. ... Marseflle Mex 4s 1904 P SN vowaran-B Norway 614 Orlent dev 5 y-Med 7. Faria Orleans 534s. Peru 6 “_ o= TSR A P Al aualie aBNE~~ B~ Swiss 538 1 Swiss Confed 8; :o:r El Pow 7; oklo 5% 1961 Utd Kingm 515 % 37 Uruguay 6s 1960, Vienna 6s ‘52 Warzaw 7s Yokohama 6s o -3 % 7 81% Rl 1476 73 12 9% 91y MISCELLANEOUS. Abram&Straus s 8 108 108 Alleghany Cp 6344 112 106% 104% Alleghany 5s 49 wi. 41 105% 105 AmAgriChem 7%s. 8 105 Am Beet Sug 6535, 45 lm AmChain6s°33.... 2 974 Am Chem 6% s ev 49 97 116 Am Int Cor 6%849.112 114% Am NatGas 6%s42 1 56y AmSmit & R 1st b8 ll 10! Am Sugar Ref 10: 2! Am T&ch(%ll!!(»d 210% 2i AmT & Tecltrbs., Am Tel & Tel §%s. Am Water Wk bs. . Am Wrtg Pap 6s 47 Armour Del 633, . At Guif6ss9...., Atlantic Refin bs. .. Bell Tel Pa 68 B. Bethlehm Stl pm bs Beth Steel rf 5; t 6 Con Coal Md Con Gas N ¥ 6%, Consum: g Det Edison 6s 40 100y Det Edison 6s. i 106% ue 9 2 021 974 ‘ha Sug 7 Fi-lan bas... o GenCable5%n47,, 1 471 Gen Mot Ae Cor 6s. 31 10i% 18 106% 8 90 11 99% Humblookfilul. 7 100% 111 Bell Tel bs. Intl Cement 6s48. Intl Mateh bs 47 int Paper bs Inter Paper 63 Int Tel&Teleg 4%.. 1 18 int Tel&Tel 4158 cv 767 1993, KanG & E 6s 62 KanCity P& L bs P.rfi*;,."'"s."°"au., l’ily ml’l‘ & 282 "dividend: s i FOREIGN EXCHANGE. (Guotaums turnighea oy W_ i Hinbe & Co Soid Seiling checks ndon. po nd ax | Brussels. bel" in pengo’ 1. crown (nom. Warsaw, zloty. ih cre Mor's&Co 1st Nat Dalry Nat Tube ist 4 101% 100% SiL&SFpl PacT&Tixtba.., 7 100% 100 2222772222 222222Z | Stclatrot & Sinclair Q11 7 Sinclair Crude 5148 Sin Pipe Line 6 Southwest Bell Stand OIIN Y 4%s. Tenn Copper 6s 41. ‘Tenn Elec Pow 6s ¢ Transcontl Ol 6 %8 United Drug 6s §3.. U S Rub Ist rf bs, U S Rub7%s.. U S Steel = f 58 Utah Pow & Lt 5s.. Utilitles Powr 6%8 Vertientes Sug 7s.. Walworth 6s '45... Walworth 6%s35.. War Quinland 6s ‘39 Warner Sug 7s 41.. Westn Union 6%s. . White Eagle O 5%. Wickw Spen 1st - 9 Youngstn S& T bs. 14 High. 106% 7% 97 100 RAII.IOAD. Ann Arbor 4s. .2 As&SKevt4s05... + Atchison adj4s.... 2 Atchison gen 4 Atch deh 4349 43, AL& &Bir4s 33 AtlanticC L 4 Atlantie C L Brooklyn Elev 6% Bklvn Manhat 6s Buff R & Pitts 4%, Bush Term con s, Can Nat 4%8 30 " o Bad ~E8-onde Can Nat 43, Can Nat 434 4 Can Pac 58 '44 ret: Can Nor 7s. Car Clinch & Clm of Ga 5sC 59 » ey T [T Ogen 43%a. . 3: Ches& O 4%s 93 A. Chi & Alton 3348, CB&Q4%s77B. CB&Q1si .. 22 Chi MiISP&Pac5s?é 2 CMSP&Pac adiss03 120 Chi & NWgn3ys Chi & NW gen 4. Chi N W 4348 20: s 1 } 0 2 5 K 5 6 0 3 1 6 2 1 1 1 4 5 2 1 6 6 1 2 2 3 Den&RI0G 4336 D Rio G West Fonda J&G 4 1e 53, Gr Trunk st db ¢s. ur-{.d Trunk 7s. 111 Cent 4s 52. ICent4%s66.... 11l Cent rf 68 65. ... 111-C-C-StL&NO bs Int Rapld Trans 6s. int Rap Tr 68 stpd. Int Rapid Trans 6 Iat Rapid Trans 7s. Int & G Nor 58 1956, Int & G Nor 18t Int & G Nor adj 6s & Int RysC A 6s41.. Int CA6%srct Towa Cent rf 4s.... Kan City F't 8 ¢s. Kansas City Lake Shore 45 31 Leh1V, Market St 7s 40. . Mil E1 Ry & L 63 61 Minn & StL ref 4s., M StP&SSM cn 4s. . M StP & SSM 6348, MK&T st 4s. . MK&T4sB. MK&ToprintsA. MK &T adj bs...., Mo Pacific gen Mo Pacbs F 7 Mo Pac 53 G 78 Mo Pac 5%s 49 evt. Nash Chat&StL ¢s. NRM4k%s567 NOTex& M % - gagaag §908¢ 235255 mamal waBs S 3 13 &StL 4%s C. R et bttt Ez02Z22p00 NYState Ry 6148 62 NY Sus&Wn gen bs NYW&B 4% " Penna v/.- Penna gold 74 I'vre Marag 19t 6 IPCC&SILbsA. rCcca llLl-Ifl ! Port E1 P L 6s, Port RL &P s 2. Port RL P 68 47. RI1Ark& Le%s o R = e O e D S L Tt 1= s - 2% 88 86 1% 157% 3% 2% 87 83 91y 157% 837 89% 89 96% 616 59 100% 9% 9% 95 2% 70 5% 68, 82 m Qll 764 3% * | struck upon HUGE NATURAL GAS PROJECTS PLANNED Extension of Pipe Lines to Bring! Fuel Into Many Cities. BY OWEN L. SCOTT. Special Dispatch to The Star. ural gas developments are on the pan in the oil fields, with Northern cities soon to be burning fuel piped to them across hundreds of milés of open coun- ry. At _the moment plans are almost complete for a big line to run from by way of Omaha. Gas already is in St. Louls ready to be turned on, after | having been “brought up from the Southwest. Memphis, Atlanta and oth- er cities of the Southeast now are be served as the result of new d v:o ments. oil industry, striving to prevent ;l‘aun of any uz( lt;e ux::ogucts rmxnll:; from operation of usiness, this extension of the use & iy is the big source of supply for Northern use. In the fields of California operators mn will be in line, through expected enforcement of the new State law, which penalizes further wastage of the huge gas resources which are exploite: as a result of ofl operations. - Billion: Coast cities. The construction of gas pipe lines already being prepared on pipe costs. Insull interests are said to be prepared to distribute in that city. The conservation movement, far on the way to success in the Southwest, does not register so favorably with the Osage Indians, who this year are seeing their one-time big money dwindle. Seab AL ref Seab AL adj Sou Rv con 6 Sou Ry 65 56.. Tex Ark FS 5345 50 Texas & Pacific 1st. Tex & Pac 6s B 1977 Tex & Pac§sC179.. Third Averef ¢s 60, Tol Tr L&P %8 30 Union Pac Ist 43 Unlon Pac 4s 68. Union Pae st rf Unlon Pac 4 %8s Virginia Ry 1st Vy Ry & P 6i Whash 4% Whash 68 76 B - 5%s 11 Money lo Loan 1% ‘I’I AveroaN Im w0 Tasuen Covenny 160th Dividend Tue regular quarterly dividend of Two Dollars renty- Five Cents share will be plld on October 15, 1929, to stockhold- 13 of record at the close close of business cn September 20, 1929. H. BLAIR-SMITH, Treasurer. Complete Investment Service Greeer & Co. SANKERS INVESTMENT BUILDING ‘WASHINGTON, D.C. Telephone National 2460 Every Fa&fity for Sound Investing Members: New York Stock Exchange New York Curb (Associate) Baltimore Stock Fxchange Richmond Stock Exchange J-A.Iglehart & Co. Investinent Banhers 719 15th St., N. W. Washington BALTIMORE CLARKSBURG RICHMOND WILMINGTON CHARLESTON Richmond 1510 H Street TULSA, Okla., October 10.—Big hat- | the Amarilla Field, Tex., to cmeqo| i of feet of gas now going to waste there | are ot be conserved and supplied to West to Chicago is pictured as a develop- | ment of the near future, with estimates | ish. . b & F N.W | + REPORT QF CONDITION Conhnental Trust Co. Of Washingte in the District of flol\lfll.h. X the ‘Close of business on October 4. 19%9. RESOURCES. . 0 nther than d dus SIbe ety I rplus fll d_profits—i vide ¢ “dividends.” con- 31 outstanding . 22. 'Demand d . Tim 3 . Other Tiabiities Total ... Jumb, | Cl'v of WIihifllléirn,o]gllllfltl of c:nt ble nbnvp named bank. do Ifll!m!l]! swear that the above Bdlll!meé“ is true to the best of my knowledgs, 8od P UGOPER, Prestdent. !ugs:rlb;doglnd sworn 1o betore me this h dav of ober. o SENJAMIN ROBIN et Notary Corree sl ARK TAY] NaSARS, WO 0, NORMAN FISCHER. CHARLES A. biie. GOLDSMITH, Reserve District No. 8. REPORT OF CONDITION PARK SAVINGS BANK - in the District of Columbls O he el ot vust Setoheroh, 162, RESOURCES. . Loans and discounts. . . Overdrafts .. . United ium ,154,541.32 $3,154.841.32 20.950.00 ed 93.093.08 . Benking house, ' §04.362.50 tnrniture and fixtures, £37.716.76 132.069.26 . Real estate owned other than . cuh i due. from berks. ash an ;i Outaide checks and other cash items . Other assets.. 7.382 51 664.117.74 26.808.10 31600.00 $4,122,368.27 $100.000.00 Capital st {‘m!}al‘m . Capital stock pai 3 ut 150,000.00 f %n&vflm Drofits e 75,780.17 . Reser for_ in ernt # Wnd other sxpenses Sutstanding . Demand deposits’ . . Time deposit: Tot City of Wash ¥ Shier of The abave-named 13’-#{.& iy "the above statement, e true he best of my Knowle . to the my knowiedge a RT President and_ Cashier. Subscribed ‘:‘:fl' "Y;‘l_“ ':‘0 before me this ety O KBS r. HirerLsERGER, v Notary Public. Correct—Attest: GEORGE E. ‘WALKER. GEQRGE A PREVOST, ' __Directors. ! NZ. P. and ed bank. do solemn- SPECIAL NOTICE Our office will close at 2 P.M. Today, October 10, in respect to the meniory of our beloved asso- ciate and vice president MR. ROY L. NEU- HAUSER. Réal Estate Mortgage & Guaranty Corporation .24 JACKSON PLACE After Every Detail when we have the man- agement of property—not only renting, but oper: —satisfying owner at the same time We can do it for you better than you can do it for yourself because of our experience and facilit B. F. SAUL CO. Nat’l 2100 925 15th St. N.W. e Ist & 2nd TRUST MONEY On homes, apartment buildings and business No appraisal mpt. service. Real Estate Mortgage & Guaranty Corp. 24 Jackson Place Natl. 1403 fee. G. M.-P. MURPHY & CO. New York WASHINGTON Philadelphia London New York Stock: Exchange Washington Stock Exchange Richmond Stock Exchange New York Produce Exchange New York Curb Exchange Copy of our “Fortnighily Review” on Request Connecticut at K National 9600 < - K Private Wires and Telephone to New York Secuflty Salnrnen. '. Ill" -e-uhr s f‘:fl. 'I lil Paree and wmch ey dlell Sielding about 7% on present brice. Call Distriet .llt for appeintment $1,500,000,000 We ‘cannot offer any adequate re- ward for the return this vast sum of money to its former owners. Thwm loss occurred on Thursday, October 8. The sum referred to represents that one day’s shrinkage in market value of S e S changes. le L e amount of the loss which occurred on that same day in the so-called ImHM securities—that vast ocean of stocks, bonds, ete., which attract so many hard- earned doian On Thursday, October 3, other day for the past sixty years actual proof has been given of the soundness, the stability, and the un- shrinking investment value of the 6% First Mortgage Notes offered through Swartzell, Rheem & Hensey Company. For over sixty years regular continuous and unfailing interest payments have been made to every client. In all that period there never was a penny lost to any investor in these Notes. Available in Denominations of $100.00 te $10,000 SWARTZELL, RHEEM & HENSEY CO. MORTGAGE BANKERS 727 15 STREET N.W. / WASHINGTON D.C. FOR more than forty years the H. L. RUST COMPANY has been making first trust loans on im- proved properties in the District of Columbia . and adjacent suburbs of Maryland . . yiln=3 | vestors have found the notes SAFE in the abundance of the security— CONVENI- - ENT in their denominations ($250 and up- wards) —PROFITABLE in the highest interest yield consistent with a conservative - investment. o We will gladly tell you more of the six per cent notes now available. o~ H. L. Rust Company 1001 15th Street N. W. National 8100 B8 T AYEF'L F$:HE D SENIOR vs JUNIOR SECURITIES To some investors safety of principal is the chief requisite . . . and they confine them- selves to the purchase of semior securities. Others invest their fund8 only where there 18 a likelihood of increasing their income . . purchasing junmior securities. Convertible securities—those which may be converted at will from a senior to a junior se- curity—have become popular during the lase few years with both classes of investors, because in them are combined the high factor of safety and the prospect of greater return. The Class A Common Stock of Investment Corporation of North America, which at the present prlce yields 7%, is senior to, and con- vertible into the Class B Common Stock, share for share. Yo for full information ”;nm'y Tbfl{ i no oblige- tion—just mail the coupom. ]wmum Banxees' ‘WOODWARD BLDG. 'WASHINGTON, D. & o o e e e ot e e e e o A S. Goursen & Company, Woodward Bldg., Washington, D. C.: Send me complete information sbout Class A Common Stock of x...w ment Corporation of North America.