Evening Star Newspaper, October 16, 1929, Page 15

FINANCIAL THE EVENING BONDS IRREGULAR I“o_w—v_vgnZBONDssr acog IN-QUIET MARKET : ‘Trading Tapers Off, but List Holds Up Well—Convert- ibles Weak. Special Dispatch to The Star. NEW YORK, October 16.—Compared With recent sessions of trading, the bond market was quiet today, with price fluctuations irregular. ‘While the general trend toward im~ proved prices for investment bands did not disappear entirely, buyers were dmmctly less aggressive today and ouly those bonds which have been favorites in the current movement made any advance. The convertible issues, sen- 8itive to the movements of the stock market, were weak, off two to three points from yesterday's close. The rest of the list was languid, but quotatiuns did not sag in the manner tc which bond traders have been so accustcmed in_recent months. Brooklyn & Manhattan Transit 6s were up- fractionally and a fair volume of trading in Hudson & Manhattan ‘funding and income issues forced the unn'gn n AT!l (Sales are in $1,000.¢ Sales. High. 16 ¥T22 720 9829 ”25 93 10 10726 lo’l!' “7 2‘ Lib3ys... Lib1st4ks 3 sthels & Uu;l“l 62. FOREIG Sales. Australia bs 1968, Australl 19567, Bank of Chile 8 %s. Bank of Chile 6%s, Bremen State 7i price of these bonds a little higher. ‘The advance was most noticeable in the junior carriers. ment 58 were up nearly a point and Missouri & Pacific obligations improved fractionally. Seaboard Air Line Rail- road continued to feature this section of the market. The 6s of this-road were up another point and over 9 points above the low price of last week. Sea- board adjustment 5s and Seaboard All Florida “A” 6s also improved. South- Canada 6s 1931 58 1953 St. Paul adjust- | o Colombia 63 Con Pow Japa Copenhagen 4348 Copenhagen Czecho 85 195 Cuba$ Danish Mu: Denmark 4%, Denmark 6348 '55. . ern Railway 4s and Canadian Pacific mortgages were higher as well. The oils, which have been active and hl:her in recent sessions, did not move much and trading in them w light. Unlad States Rubber 5s, Inter- national . Merchant Marine 6s, Chile Copper 5s, National Dairy Products 8Y4s, General Steel Castings 5%s and Bros. 6s were all fractionally bet~ . “The last named issue is still selling within a Iraction of its low price for the year. ‘Texas Cot tion when-issues 5s, one of the most active descriptions in’ this market since its initial appearance last ‘week, were again up, sel "at nearly 3 points lum. Preml Foreign loans, particularly those of France, Italy 2nd Japan, were strong. Vienna 6s were up a point in response to announcements of better economic conditions in Central Europe. Aus- Denmark 6s....... Dutch East 163 47, DEL 6%s Mch 63.. Fiat 7s war * Finland §%s. Finland Sloarn~Seuourtin ETTT Kreuger&Toll 5s Lyoas 6s. Marseille tralian 4%s were in d at slightly | M Tigher . prices. o imeire Washington Stock Exchange SALES. Wash. Sa 65 A—$800 at 1003, mn}et % m ‘?"g‘l&’é' ~32 8 District Nlt% D Second Natl, B—10 8t 315, 10 at 215, Lanston Monotype—10 at 1303, 20 at 130%%, 10 at 130‘/;, 10 at 130%, 3 at 1!0%, 5 at 130 rgenthaler 10 at 105, lt 105, 3 at 105, 10 at 105 10 at 104%. Ni “Inv. pfd.—100 at 43, 100 4%, Real Est. & Guar. pfd—300 at 7%. AFTER CALL. 'Ish.m?;;l 6s A—$100 at 100%, $200 at at 1 Capital 'l‘rlct. 55—$500 at 91%, $1,000 at 91%. UNLISTED DEPARTMENT. Chapin Sacks 8% pfd.—10 at'106%. Bid and Asked Prices. BONDS. 3econd . National TRUST COMPANY. American Security & Trust Co. 458 ital t. < J3m jeral-. nston Monot: n P ype #ghinfi:}ma S ol 5 . Ref. A N . Mty col e : " "lvmnd. FREIGHT LOADINGS. :y the Assoclated Press. Mm“m mmhe movement Iwi traffic in many weeks :’nflnrc.x’lfid for the week yendlnl t, m uput the elunus of 1929 freight sonal movements to markets. Comparisons by the weeks of the |, freight loadings were: Week ending October 5.. 1,179,047 cars Preceding week 1,202,111 cars Eame week Jast year. 1,187,032 un . to pm.mun L aotary mn?"mmm in 1926, 1 New So Wales 53. .. Nord 6%s....... Norway 65 188’ Norway 5%s,". Norway 6s lill. Norwa; Norway lu un.. Ortent dev 6% b Paris-Ly-Med Paris-Ly-Med l;lrll Orleans § 196 Phine WstE P Rio Gr do Sul 6 Rio de Janerio - oy ANNE R AR E S aa s B Low. 2:88. 7 22 N High, 0 i 8% vsn 104% 108% 107% 107% 106% a4 1000 100 0% V% 102 102 0% Sk 904 89% 100% 100% 102% 102% 10: 101% 1nuz -2 B B4% 0% $0% 981 98% 103% 103% 109 108% 114% 114 881 &8 10614 105% 101 100 79 8% 8K 98 98 98 96k 95% 9% 92 93% 93y 102% 02 9% 994 ];W 100 9% 86% 86 103 103% 9 90% 90% 904 101% 101% 101% 101% 106% 106% M 1% ISCELLANEOUS, M Abram&Straus§%s 5 Alleghany Cp 63 44 85 Alleghany 63 49 wi, 130 AmAgriChem 7%s.. 1 Am Chatn 6533, 2 Am Chem b5 cv 43 Am Cotton Oli Am int Cor 643 49, Am NatGas 6348 3, AmSmit& R n( s, ConGas N ¥ 8%, Consumers Pow :)nqunzu 43%s61.. Kast Cuba Sug %8 ot Tel&Teleg 4%, int '.rawrol 4%sev] KanG& S Kendalls »- o8 war, Lackaws St 6s. Lacled S 'Pac T & T 68 52, Paramount 6s 1947, Patbe Exchange 78. Peoples Gas a0 33 -tn':»‘m'#-suu;!u:!e ! @ --.-.-o.--!...-. - ¥2 186% 186% 10314 103% 89k 90 W% 99N 8% 8% VBN 102 102 97 97 9 v 101% 101% 80 80% 96% 96% 37% 37% 104% 104% 102% 1024 - %o A Rl"k.‘d‘“lcn. Preased St] Car §s. Rem Rnd s %s w: RemingtonAr Sinelair O Sinclatr Ofl Sinclatr O11 8. Sinclatr Crude 5%s 1 4 96 , 9 99 99% Wi South Bell Tel b Southwest iell 63.. Stand O11 N J 48 Stand O1L N ¥ 4% Tenn Copper 68 41 Tenn Elec Pow Transcont) Ol 6348 United Dtug b8 53 U S Rub 1st rf USRub1% U S Steel s Utah Pow & Lt 68 Vertientes Sug 7s. . | Waiworth 614835 War Quintand White Kag! 05% Youngstn 8 l T IAILROAD. Buft R & Pitts 4 s, Can Nat o%no.. n-—uuuecn-xrn\——wwgwe—>u tacuBononmmeBaneale- Chi B&Q gen 48 63.. Chi&E 111 gn 53 61 Chi Gt West CM & St P Gen ChiM&StP4 % sCl Chi M&StP 4% s B Chi MIISP&Pacbs?6 24 CHSPQI;VI%IMI”I 109 Cuba RR 7% Cuba Nor %s cts Del & Hud 1strf ¢ © ke e ke SouBreaqd amn Fonda J&G 4%s Il. Ga & Ala 1st 68 45. . - =10 ] eRFoSanmrn mem - Mill El Ry&Lt 4348, MIIEIRy &L 5s 61. Minn & flslk refds., NRM4%s 57 asst. NOT“&M‘IB 0 4 raSeRean anEANc et~ GaS08 ANG ARSI~ - 28 1 89% 137 104% 62 93 n% 103% 102% 108% 00% 30%, 96% " 96% 9 100 W% L, IM&S g ba 51 hmu"m & oy " weEZ 885 rucexBanaman annspaen bom > © Twd E2 22 i ke ‘Tex Corp cv 581944 12351011 98 1 Tex & Pac b8 B 1977 9.. 15 Tex & Pac 63 C 7! l02% 102% ad: 1" Diatranos i qu Union Pas 16 Union Pa Union Pae i3 Union Pac ¢ %s 67 Un Pac 1st ref bs... Virginia Ry 1at Whash 3348 7! West Elec bs. Waest Maryland Wast Facito . Wheel 1" 86 STAR, WASHINGTON, D. C, WEDNESDAY, OCTOBER. 16, FJNANCIAL'. a S6ly 97 " 98% 99 101% 9dn 92% £91s 101 102 3 101 9z 101% 105% 88% 134% 104% 62 93 111% 108% 102 1084 100% 30% 964 95% 6 9% 94k Huh Low. 2:55. 87 87 97 94 :nl |o|u. 9% 92% 8912 101 1021 101% 954 101% iy 79! 98 IFARM BOARD TURNS! lTll GRAIN PRflBlEM Canadian Wheat Situation Is Closely Studied by New U. S. Agency. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, October 16.—Now that the appointees to the Federal Farm Board have been approved by the Sen- ate committee, they are paying in- creased attention to the situation con- fronting the Canadian co-operative marketing associations. A similar situ- ation is likely to face them if, as agency which will handle the sales of least 40 per cent of the wheat crop, as announced by Samuel R. McKelvie, grain membe:= of the board. Within the next fortnight or three weeks the fate of the Canadian farmers’ profits will be determined. Today the Canadian_co-operative associations are in battle front against the wily and ex- perienced buyers of Europe. The latter are refusing to pay the price demanded for Canadian grain. The Canadian pools contend that grain not only is selling at a price which is fully justi- fled, but that even higher levels are warranted for wheat of a certain pro- tein content. This deadlock between- buyers and sellers has resulted in an almost com- plele stoppage of the wheat movement from the Northwest. It has had an ad- verse effect on business in Canada and, incidentally, on American trade, since Canada is the best and largest cus- tomer of the United States. ‘The organized farmers ofthe Domin- fon are presenting a mope ‘united front than any farm organizAtion has ever agcomplished before. The European buyers, on the other hand, are confident they can fill European needs from other than Canadian sources until the wheat crops from south of the Equator a .v-unble The pools contend that the rotein content wheat of Canada lnd )‘P ' h'e!:t‘l;‘n United States A’apnpel:- essary for mixing purposes to - men‘;.ythe lower grade wheat which is being pufchased. ~ ——— The Automatic Musical Instrument Co. of Grand Rapids, Mich, will in- crease its production 25 per cent upon the completion of a new addition to its factory, according to Walter Ioor, pres- ident. Money to Loan Bee M'{I l‘ll..llflll.ll"ll“‘.l‘. JmepL ‘Weller ,,,‘!‘,‘.‘.‘ Piw Complete Investment Service planned, they establish a national sales 22, GreeeT & Co. BANKERS INVESTMENT BUILDING WASHINGTON, D.C. Telephone National 2460 We recommend— Geo. A. Hormel & Co. The Largest Producer Special in United States. ,cl Analysis on Request . Irving & Johnston Woodward Bldg. National 8973 Members Wagh. Stock Eichanoe Correspondents of Spencer ok & Co. a third of The ‘nliof our manage- ment of your apartment hot properties will give you is worth all it cos But it really doesn’t cost in fact, you'll B. F. SAUL CO. Nat’l 2100 925 15th St. N.W. Buy Bonds at Present Prices for 6% Return and Possibility of Profit MONTHS of high money rates have forced bond prices to levels it is now possible to select well diversified list, on which yield averages over 6%. Our cirrent lists of bond and short term note investment sug: gestions_include 90 issues on which the average return is over 6%. Send for. copies SECURITIES COMPANY e The Eamrgsts S Bompony of New York StaNLy CARR, Representative ~ 922 Fifteenth Street, N. W. WASHINGTON, D.-C. Whmn‘l“-u 5 1% ,“ ,."‘ B . Charter No. 10504. _Reserve District No. §. | Charter No. ITION T oF, Franklin National Bank Of Washington. in the District of Columbia. at the close of business on October 4, 1 3,563.211.42 s £t 509,766.10 703,905.00 261.124.68 288,038.90 421,603.:31 due i checks _ an 31,734.08 cash_items + | 1. Redemption fund 'with Zreasurer and cue U. 8. Treasurer Securities | Other assets TOWL . 11,250.00 12060 5,767.990.95 - $328.000.00 a0t 195,345.81 16. Uflmviflefl profits—net " 18. Surplus . Reserves for dividends E xndlvm-d ‘profits—ne: ] tingencles. ete . Regerves for interes 218,950.00 ing . & - Dye to b i tified and cachie outstanding . 267,703.97 Washindton. District of Columb; HOS, P, HICKMA] the abovesnamed Bank, 6o wlemnl! swear that fhe "above statement s true o the best of my knowledge and b . HICKMAN, Cashler. , Bubscribed _and sworn to before me this 144h dayof October. 1930\ Exowiedse and Notary Fobie: med.) named’ bank. co'"“_A"l‘lnlllllflT GUaa M. IOHN g %Rfiw REAL ESTATE LOANS J‘cnh Scharf, M. Emmerich, 203 Reserve District No. 8. REFORT OF CONDITION Second National Bank - Of Washington, in the District of Columbia, | at the close of business on October 4, LIABILITIES. ; Gapital stock” paid ‘in... eserves for dividends, and other expenser acc Teraaly wear that the Dame stanement 1s frue to'the best of my . e Casl Lifubscribed and sworn to before e “this ftis Setober. 1929, “est) OWILLIAM" 5. TORBERT. FIRST TRUST NOTES e 0TS, falr guaranteed return with ety and security for your savings. St Batticuiars. ""’“‘3};;; « - Thos. E'-.-!‘zr'u" Co. 721 10th Street N.W. 1929, National 0763 941,012.88 09.675.20 863.230.38 412.463.76 £91,507.23 other i ACA trom JOHN JOY EDSON, President Organized 1879 Aseets ....ouuiinll 75,899.10 $750.000.00 '500,000. 58,882.95 L 1 17,006.99 T 270,107.80 of the aboye- 95 F ‘Notary Public. Marlot . ‘Some; Made at Low Interest Rates TYLER & RUTHERFORD Advantages incident te direet 1520 K St. N.W. National 0475 Thomas J. Fisher & For a Safe Investment REAL ESTATE NOTES - - Secured by High-Class Improved Properties Competent Appraisals 6% Interest Consult EAVER BRO REALTORS 809 15th St. N'W. four general management nvestment cothpanies in the American Founders group follow definite principles of conservative . investment and broad diversifica- tion. They set a high minimum for the number of different invest- ments and a low maximum for the amount jinvested in any one enter- prise, industry or country. They buy both bonds and stocks. Their portfolios are. constantly supervised ‘by American Founders Corponnon,whoseexpcncnceand facilities quflify it to follow every' important industry in thirty of the world’s security markets, ‘ v ’ The policy of the American Founders companies is to acquire sound holdings in this and other stable countries of the world, when prices are comparatively depressed. They readjust these investments as greater safety and advantage offer. 14 First Mortgage Loans Lowest Rates of Interest and Commission District 9486 Company, Inc. 1508 H STREET WASHINGTON, D. C. . The four general management | companies dre not trading, hold- ing or financing companies; in many ways they resemble the British invéstmént trusts,and their only business is the investment and reinyestment of their funds There is an active muket for the securities of the group.! In- formation and quofifiom may be obtained from bankers and deal- ers, or from Founders General Corporation, 50 Pine Stxect, New (York., be DECORATIONS BY ROCKWELL KENT Real Estate lnvmh"_ JAMES Y, PENNEBAKER Nat.5291 1520K St. N.W; Equitable Co-operative Bldg. Ass'n WALTER S. PRATT, Jr, Secretary 49th YEAR Comli'!“ Surplus & Profits. 5....$1.695,894.08 Subscription for the 97th Issue of Stock Being Received SAVE AS YOU EARN TH’E 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 you have a steady income. Come' in and let us explain about. our systematic plan. St. N.W. *Mackubin, Goodnch & Co. Establ BANKERS Members NEW YORK STOCK EXCHANGE BALTIMORE STOCK EXCHANGE eAssociate Member NEW YORK CURB’ _EXCHANG? ‘ ’rlvnfe wires and ielephone; to principal markets 111 EAST REDWOOD S'I'lEl ~ BALTIMORE, MD. o~ CUT IN{WOoODWBYTIN 1. LANKE THE AMERICAN FOUN]DEBS GROUP 2 r y {Sharing theiProsperity of Many Companies, Ml;ny 7ndi‘4urie>n,,1|lany_ Countries) Including _ AMERICAN FOUNDERS. CORPORATION - Ceneral Management Investment Companies INTERNATIONAL SECURITIES CORPORATION OF AIEIICA SECOND INTERNATIONAL SECUR!TmS CORPORATION AMERICAN & GENERAL SECURITIES B3 UNITED STATES & BRITISH INTERNATIONAL COMPANY, LTD. CORPORATION