Evening Star Newspaper, October 15, 1929, Page 15

FINANCIAL.® BOND PRCES FIN | = BONDS e Recelved by Private Wire Direct to The Star Office IN AGTIVE TRADING Convertibles Fluctuate as Stock Issues Turn Irregular. U. S. Group Strong. Special Dispatch to the Star. Lib3%s... Lib1st4%s Lib 4th 4%s US3%s. US4s1944 180 104 US4¢¥%sb2. 200 108 NEW YORK, October 15.—While the | Ar; erratic movements of their comple- mentary stocks carried the convertible bonds rapidly up and down on today's bond market, the tone of the trading in the rest of the list was strong, with a marked rising tendency. A few losses scattered throughout the list were mere- ly fractional, while gains were distinct and progressive. ‘The bond market, to a de more than has been the case in a long time, showed independence in its movements, Easiler money and the consequent lessen- ing of the drain on investments to sup- port marginal stock accounts have turned a strong voiume of buying to the investment market. United States Government bonds, ‘which have been sluggish for so long, staged a revvial today, with gains of as much as 10-32 between sales. Liberty Fourth 4l4s were nearly a point Ibflv‘ the low of the year, and Treasury 4%4s ‘were 3 points above the 1929 low. Treas- ury 4s gained 20-32. Fractional movements in the prime rails and public utilities were mostly upward, but it was in the junior cnrr!en that the heaviest buying took place. Hudson and Manhattan issues were up in a good volume of trading. Interbor- ough "funding 5s gained fractionally. Seaboard Air Line 6s were much in de- mand, and the price rose 2 points to & new 1929 high, Seaboard All Florida 8s | Dutch East I 6s 62.. and Seabcard Air Line adjustments shared in the rise. Other rails to gain were Chicago and Eastern Illinois S5s, Chicago & Great Western 4s, Denver & Rio Grande Western Ss, obligations of the Erie Railroad, Missouri & Pa- cific 4s and 5's, Texas & Pacific 5s of the 1979 maturity and Western Mary~ land 4s. Investors looking for fat yields ac- companied by some degree of security forced foreign loans upward. German s, for instance, were selling at 106 and German Central Bank 6s (October, 1960) were up 11 points. The latter is now about 7 points above its low for the year. Italian 7s, Copenhagen Bs, Poland 7s, Deutsche Bank 6s, and French descriptions were all higher. BSouth American bonds did not do so tin Argentine Austria 7s. Australia Australia Australia 6s 195° % Belgium 7s 1965, Belgium 78 1958, Belgium 73%s.. Belgiu . Bolivia 7s ct *69 Bolivia Bordeaux §s. Brazil 6%s 1926, Brazi] 6%s 1927 *Brazil 7 Brazil 8s. Canada 55 1952. Canada 58 1931, Chile Chile Chile 78 Christiania 6s. Colombia §s Jan Con Pow Japan 7s. Copenhagen 4%s 63 Copenhagen 5s ct. Czecho 831951, Czecho 88 1953 Denmark 438, Denmark 538 Denmark 6s. El Salvador Fiat 7s wai Fiat 7s x war * Finland § Finland s 1 6: Finland 7s. Framerican 7% French 7s. French 14s. Holland-Amer 6 German Bank German EI P German 7s. Ger Gen Elec Greek €s 1963 Haitt Italy 7s, Italian Pub 8 Japanese 4s. Japanese 633 10720 lOl 1 1041 104% 17 107% 107% 8 106 106 716 1% 14 100% 100% 1 103% 103% 2 102% 102'% 3 107 107 1012 12 5 91 904 5 84% 84 14l 113% 5 98 98 3 1014 101 6 102 :fiu although even here the losses were | Kreuger&Toll 5s et.169 100 balanced by gains of equal size. The two leaders of the foreign department, Kreuger & Toll 5s and Lautaro Nitrate 6s, were both off sll(htly Washmgton Stock Exchange SALES. Capital Traction 5s—$1,000 at 9! $1,000 at 91154$1,000 at 91%. Washington G@§ 5s—$500 at 9734, | part $500 at 9714, $1,000 at 973, $1,000 at 97%, $1,000 at 97%. ‘Washington Gas 6s A—$1,000 at 10114, Washington Rwy. & Elec. 46—$1,000 at Capital Traction Co—10 at 85%. American Security & Trust Co.—1 at Federal-American Co. pid.—5 at 1008 Mergenthaler Linotype—10 at 103%, 10 at 103%, 10 at 104 10 at 104, 10 at a 104, 30 lt 104% Real Estate M & Guar. pfd.—240 at oo, 160 at T, 40 ot 1%. Aml CALL. ‘Woodward & Infl’lmp pfd.—5 at 107%. Lyoas Marseille 6s. . Mexico 4s 10 asnt. Milan 633, New So Wal| Norway 68 1 Nurny m.. Nuwu , | Norwa. s-Ly-Med Pnl-x.y.u.. ru 6 Peru hru Pola P.hnl 8 Queensla: Rhine Wat EP Phine Wat E P RhineWst EP mo de Janerio 8% Rlo Gr llln (PW) o 19| 10 1013 J01 19 101 100% 6 5% 854 1100 100 1108 101 17 #2% 82 11 814 8iy 12 98% T 824 9 92 92 8 1094 109% 1 88 &6 8 904 89K 2-100% 1004 9 &6 85 17 9% 94 710t 101 White Eagle O 5%.. ‘White Sew Mach. ., Wickw Spen 1st » Atchison adj Atehison gen 6 Bklyn Un El 5= st: Bush Term con s, Can Nat 4% Can Nat 43 Can Pac deb 4 Can Pac 4%s Can Pac 5s '44 r ChI&E 11l gn 58 ll. . Chi Gt West 45 59. ., Chi M&StP 448 E. . Chi MIISP&Pac5s76 CMSP&Pac adi5s03 Chi & NW gen 4s. ., Clll N W 4382037, Del & Hud 1st rt ¢s. Del & Hud 78 30 . High. 9 99% Toe Bleoaa exlao 25 14 67 " ——— $ Elooratoun thErUOERLABE SC L8O Low. Y% 99% 99% 101 91 101% 9 lOIW 94% 101 105 102 1% 88% 100% 109% 98 89% ssv. 10 IWK 101% 83 40% 40% 99 . 9% 86% o 90% lfi-'»h "’“ advised that several of these issues 6 192 974 102% 100% 100% 1084 100% 96% 88% 93 82% '% | sets little firmer, others about steady; Northern PROTECTIVE COMMITTEE Money to Loan TO AID BOND HOLDERS | S ihir s asine Special Dispatch to The Star. NEW YORK, October 15.—Repre- sentatives of a protective committee Just formed for the first mortgage real estate bonds originally sold by the American Bond & Mortgage Co. and representatives of the company met here today to find a solution of the difficulties which caused the organi- zation of the committee. The com- mittee has sent out a call for the de- posit of the bonds, which cover 53 separate properties, asserting that a sit- uation had arisen in connection with the bonds which required immediate action by the holders for their own protection. ‘The properties are in Brookline. Detroit, Chicago, New York, Phila- delphia, Brooklyn, Boston, Hammond, Pl&l Beach, Mamaroneck, N. Y., Eng- lewood, N. J., and St. Louis. Most of them are hotels and apartment houses. The statement issued by the commit- “A muntlon has arisen in connec- tion with a large number of bond issues, originally sold by the American Bond & Mortgage Co., Inc., which requires immediate action on the part of the holders of such bonds for their own protection. “This committee has been formed to secure such concerted action. 1t is We recommend— Geo. A, Hormel & Co. The Laroest Producer of Spectalty $eat products ShecUny United States. Analysis on Request Irving & Johnston Woodward Bldg. National 8973 Correspondent; Members s of Spencer Wash. Stock Trask & Co. Ezchange are already in default. In other cases default is impending. In many in- stances the property, or securities g‘ junior to the first-mortgage bonds, is eld in the interest of the Atherican Bond & Mortgage Co., Inc. An in- dependent committee is therefore very necessary to avoid conflicting interests.” el POTATO MARKET. CHICAGO, October 15 (#) (United States Department of Agriculture).— Potatoes—Receipts, 182 cars, on track 545 cars, total U. 8. shipments 1,168 cars, tndlng just fair; market on rus- Unconditionally GUARANTEED The Wise Investor Buys Guaranteed Income The speculator buys un- certainty — possibly severe Toss. Many wise investors are confidently purchasing our 6% First Trust Notes— with their unqualified uarantee for Safety . of rincipal and Intere:t, Get the Facts L INVESTMEN W o e ‘Wisconsin sacked round whites, 2.65 to 2.75; central section, 2.45 to 2.50; Minnesota sacked round whites, Hollandale, 2.50 to 2.60, others 2.35 to 2.45; Minnesota-North Dakota sacked Red River Ohio's, 245 to 2.60: South Dakota sacked early Ohio's, 2.50 to 2.60; Idaho sacked russets, 3.00 to 3.25. SILVER QUOTATIONS. NEW YORK, October 15 (#).—Bar silver 50%s. Mexican dollars 3’ Sales. High. Low. 2:55. Wabash 1st 5 106 Wabash 24 We Wheel & L Eon 43, Wheel&LE rf 43s. STEIN BRroS. & BOYCE Established 1853 New York Stock Exchange orders executed for cash or accounts carried on conservative margin. WOODWARD BLDG,, WASHINGTON, D. C. Telephone: National 3473 Members NEW YORK, Baltimore and Washington Stock Exchanges Associate Members New York Curb Exchange No. 8. East Was'hmgton Savmgs Bank Of Washington, in District of Columbia, at the close of hnllnen on October 4, 1929. $1,079,244.21 1,010.00 109,332.50 RESOU! gnu and discounts ited | St ies_own 6. Banking house, furnitiire anid 9. Oash and due 25,000.00 98,044.38 18 SHe: Tels 148.26 . 31,312,779.35 8 $100,000.00 16. Surplus 100.000.00 17, Unrtrlvlded pro 20,641.07 23] Time deposits ... 1,092,138.28 1312,779.35 ribe mh d-y ©of October, 1929. (Seal. GEORGE R, REPETTI, Correct—Attest: Regerve District No. 5. Charter No. 4107. REPORT' OF CONI RT National Cag‘nal Bank t Washi , in the District of Columbia, O Do Do S Dusiness on" Gotober 4 1030 RESOURCES. . Loans and discounts +.$1,356,666.30 2,895.90 263,775.32 144,275.50 50,000.00 167,537.39 280,186.02 Ou cash items 78.61 Total .. $2,255,415.04 ouse, $45, niture and fixtures, $4,500. . Regerve with Pederal Reserve . Capital stock paid i . Bhdivided pronl»—net e . Reserves for dividend: $200.000.00 00.000.00 1850399 4,000.00 tified and cashiers’ checks outstanding 118.618.90 ART, ‘cashier of the above- o Solemanly swear that the sbove stater u‘bh true to the best of my e and bellef. noviis e, ART, Cashier Subscribed and sworn 1o before me this 12th day of o:lo!m' 1929, ¥ (N, PAYNE, Jr. Attest: Notary Pnbht Cos t—Attes! cxm’-’:fii ¥, Donohoe, Walter M. Marlow, . _McKee, Tonn Earnshaw, S'H. wis_Flem Walker. Directors. First Mortgages For Sale JAMES F. SHEA 643 Lot Consnlt Us First i‘n need money for {o eal Estate financing et us have your application today. Prompt Service No Appraisal Fee ot American Security FINANCIAL. REPORT OF CONDITION ’& Trust Company ©Of Washington, in the District of Columbia, at the close of business on October 4, 1929. g RESOURCES, 1. Loans and discounts..... . Overdrafts ........ . United States Government securities owned. . Other bonds, stocks and securities owned. . . Banking houses, $1,411,690.34; furniture and . Real estate owned other than banking houses. . Cash and due from banks, . Outside checks and other . Other assets . . Total ++.$33,078,398.00 . 1,574.68 2,736,045.23 6,380,981.23 1,658,097.58 ,148.00 5,012, 651,57 '221,414.90 322,032.08 3049724321 '615,114.78 160,442.86 123,706.96 . Surplus . Undivided praflts——net .. - . Reserves for dividends, cunnn‘encies etc. . Reserves for interest, taxes and other expenses accrued and unpaid . D"f uémh-nxs Including’ certified and ‘treasurer's checks out- standing . Demand deposits . Time l:lep%E . 24. United 'S dcpo!l'.l . . Other. liabilities ..... 13.217213.2 xsmu Total ... O e e cocve-caspes st o sdinat above-] do swear umc the above statement is true to the best of my knnwhd‘e and belief, 4 WE, Treasurer. Subscribed and sworn to before me '.hl: 10th o! ocwbcr 1929. (Seal.) DOmY, Public, D. C. My commi.ulon expl.ru July 15, 10!2 Correct—, M. GREEN, B!INJAMIN WARJJI!RTHORON JAME P' SHEA CLARENCE F. NORMENT, PERIODIC STATEMENTS. Of a bank’s condition enable its public to the institution’s progress and to pass judgment upon its strength and the of its policies, ‘The Union Trust Company of the District of Columl takes satisfaction in presenting this report, as follows: R.!PORT OP OONDITION Union Trust Company Of the District of Columbia, in the city of Washington, at the close of business on October 4, 1929. HILIP M. G. GIBBS," RESOURCES, . Loans and discounts Overdrafts . United States Other bonds, stocks -nd securities owned . Banking house, $1,720,832.81; furniture and . Real estate owned other than banking house . Cash and due from banks . 10. Outside checks and other 14. Other assets . ,917,400.50 i 5,219.47 1 2. 3. 4. 6. 17 +$13,438,401.80 15. Capital stock paid in 16. Surplus . 17. Undivided 18. Reserves for dividends, 19. Reserves for mumn taxes lnd other $2,000,000.00 500,000.00 766,796.17 40,000.00 40,200.75 22. Demmd d 23. Time de ® .$13,438,401.80 Disrict of ( Columbia, ss: I, EDWARD J. STELLWAGEN, president of the above-named bank, do sol- emnly swear that the above statement is true to the best of my knowledge and belief. EDWARD J. BTII-LWAGIN.L Bumrlbed and sworn to before me this 11th of October, 1929. (Seal.) J. D ‘WAINWRIGHT, Cnrrecb—Atteal' HARRY COVINGTON, KAUFM, !DWARD L. HILLYER, LUTHER F. SPEER, A. L. BALDWIN, W. 8. ORD MTON onono: E, HAHILTON, CHARLES F. 3 . THOMAS DUNLOP, . WILSON, g J. H. CRANFORD. H. C. NEWCOMER, Capital Traction Co.—15 at 85, t 15, 20 at 8515, £ 15 at |Gy rican Becnnty & Trust Co—5 at 465. Mergznth-ler Linotype—10 at 10434. Rwy. & Elec. 45—$1,000 Mergenthaler Linotype—10 at 105, 10 | S¥iss Confed ‘Tokio bs. at 105, 10 at 105%, 10 at 105%, 10 at Tooka 10 o JosiA Y Tokio 6% 196 Utd Kingm § e Bid and Asked Prices. 7 éa1080. . Uruguay BONDS. PUBLIC UTILITY. . 434s 33 10 100 E1 The Commercial National 8. 8 Company rate up Cuih"Cusiel sson.o00 Commercia) Nations) Lponn Bide. | REAL ESTATE LOANS | Made at Low Intere.t Rates TYLER & RUTHERFORD Advantages incident-te direct representation 1520 K St. N.W. Nafional 0475 SECURITIES MARKET on the NEW YORK PRODUCE EXCHANGE (acorporated 1862) THOSE BUYING OR selling securities not traded onthe New York Stock Ex- llM % INTEREST COMPOUNDED TWICE A YEAR AND FREE FROM ALL TAXES THE CHILDREN There is no such thing as chance success; must_be in the direction of thrift. Start a thrift account for the kiddies and encourage them to add to it regularly and you will have instilled in them that Spirit of Thrift which will later in life lead them to success. THE ADULT The successful investors do not allow the promise of big speculative profits or exorbitant rates of interest to influence them; they seek absolute safety for their principal with a fair rate of interest. Every Facility for Sound Investing CompLETE FINANCING 5% Ist & 2nd TRUST MONEY On homes, apartment buildings and business properties. Noappraisal fee. Prompt service. Real Estate Mortgage & Guaranty Corp. 24 Jackson Place Natl. 1403 Members: New York Stock Exchange New York Curb (Associate) Baltimore Stock Exchange Richmond Stock Exchange J-A.Iglehart & Co. | Investment Banhers 719 15th St., N. W. Washington the first step 83332, VRS Sas 6. series Wash. Rwy. & Elec. 4 & Barber & Ross, Ch: 22023382 3 Cold morne 55 Wash. Eons. STOCKS. oo BALTIMORE CLARKSBURG i ure concerning this L -‘-:’-‘d“:/“‘ @ statigtical Mo Pacbs F 17, Mo Pac5sG 78.... ) Mo Pac 5348 49 evt, Nassau El 48 51 NERMayssia NUT&Mb%s N Y Cen gen o 4, N Y Len deb 4. SECURITY All deposits with this Association are secured by first mottgages on improved real estate in this city and on the basis of about $204.00 valuation for hcry $100.00 on deposit with us. [T LI R o =11 o - Columbia Building Association 716 11th St. N.W. UNDER GOVERNMENT SUPERVISION. Bark of Washington IRUST COMPANY. American Security & Trust Co. Cflntlnen:-l st an o NeRaanwm~ wes F8omneSanrs YOont W ist4s., N Yy esse. N Y State Ry 4148, . NYWaB cu.“ Norfolk & W cn s Nor Fac 38 2047 Pac i43%% | Sen Cable 634s ¢ 313 | Gen Mot Ae Cor » No. 3 of a series of advertisements suggested by questions we are asked Where Do They Come From? It would be extremely difficult to answer that question accurately, but we do know that Washington is growing at the rate of 13,000 every year—an inevitable growth because of the many inducements Wash- ington offers people who reside here. ‘Washington Loan & Trust SAVINGS BANK. » Ogden&Lake Ch 4 S A'FPE FTRS T MORTGAGES Uie Short L rf « Penna con ¢, Penna gen 4 i, Fenna 433 63 Penna gen b, Penna bx 64, Penna 6% Penna guid 7s . Pa Ohlo & Det 43 Peo & K1t 4s 40 Port 1P L Port R L P 68 4 Port RL&P 7% Reading xen Reading J C RioG W 1st ONE OF THE ADVANTAGES offered by our 6% FIRST MORTGAGES is that one with a small amount of money for investment can enjoy the same liberal return as the large investor. As little as $250 can be in- vested and it will earn 6% regularly. - a ~ S —e EITPT T S PO - TR T T ST First in importance, of course, are the enormous Government activie ties. But many more thousands are drawn here because of Washing- ton's superior educational advantages—because of its unique social position—because of its increasing popularity as Headquarters of National Organizations—because, in short, it is the Capital City of a great and growing Nation. NORERRERARRS BearaS—aanGe s Lortllard 4 Lou Gas & B McCormek ER §: ll Manati Sugar 7% Midvale Steel Montana Pow 6s 43 Mor's&Co 15t 4%s.. Over a Third The important fact is that they do come, and will continue to come —making ever increasing demands for residential, commercial and in- dustrial homes—creating constantly enhancing values for W real estate. % | SLL'S W eon ¢8 33.. of a + B8t L Western 2d 4 Century Wik dcdiza “.‘fq'. Without a Woodward & Lothrop Ex dividend. FOREIGN EXCHANGE. — L s, bell Loss Our First Mortgage Offerings, secured against this Real Estate, assure you abso- lute safety, and a generous return. Ask for our literature and a list of current offerings. First Mortgnge Investments by May be purchased in amounts from $250 up—upon our convenient partial payment plan. B. F. SAUL CO. National 2100 925 15th St. N.W. 9 ki iigd 261 Tex Ark FS5%880 2 103 1 Tex Corp ey 58 1944 1320101% Tex & Pac 68 B 1977 1 984 Texas & Tex & Pac Thicd Ave ref Third Ave adj b ! Tol Tr L&V 6% s 30 Union Pa Union P Virginia Ry 1 Woash %8 78 rets, fi{’: driving | Postar Te) & € 5% 11 vter Punta Alegre 7s... 13 ved at| Pub Ser 4%s 266% 66 /ILioN | ftem ftnd ttan war 30 98% 97% 5 85 93 Phila Co bs 67 Phila & R a Philips 1435 K Street NW, McPherson Square A woman's hair furnish-- National 2345 belt of a running engine, ¢ an inch long, which wa< the recent model engin- DY = London. THERE IS NO SUBSTITUTE FOR SAFETY RemingtonAr 6 32 93 5 87