Evening Star Newspaper, November 12, 1929, Page 13

FINANCIAL., 3 and Legal Issues Go Against Trend. Speclal Dispatch to The Star. NEW YORK, November 12.—Bond and losses were general through the list, with the exception of a few Government and legal descriptions. Liberty fourth 4;s made a new high for the current movement and Treasury 4Ys were up slightly. Atchison general 4s, Baltimore & Ohio first 4s and North- ern Pacific 4s were fractionally higher. The downward tendency of the rest of the list was clearly a continuation of the forced selling that has preved so continuously on the bond market dur- ing the depression in stocks, because apart from the purely technical con- ditions, bond news today was good. Union Pacific Railway announced the retirement of $45,000,000 Oregon Short Line 4s due this year and guaranteed by the Union Pacific. * There was no sinking fund for this issue and it is to be paid out of cash. The bonds have been within a fraction of par for some time. Other news was the announcement of the issue of $20,000,000 6 per cent notes by the Nickel Plate, with which to buy certificates of deposit of the Wheeling & Lake Erie Railroad, pre- viously owned by the Alleghany Cor- ration. An offering of $18,500,000 goper cent bonds of the Harbor. Com- missioners of Montreal was at 99!a. These bonds are unconditionally guar- anteed by the Canadian government. The declines in Brazillan and Colom- blan bonds, which have also affec the obligations of neighboring countries, not only represent unfavorable ‘economic conditions, but a certain amount of dis- tress selling on the part of institutions that bought these issues when they were L 80 ular a year or two ago. In some eases the deciines from the high of the | FT year amount to 20 to 30 per cent and even more when compared with the fssue price. D G CRASH IN STOCKS LAID TO FEAR OF TARIFF BLOC By the Assoclated Press. NEW YORK, November 12.—The re- cent stock market crash, in the opinion of Fred 1. Kent, director of the Bank- ers’ Trust Co., is largely due to fear en- gendered in the minds of business men by the opposition of the coalition bloc in Congress to the proposed tariff bill. Speaking before 400 bankers at the -annual dinner here, he said: “The activities of this bloc and their method aroused & feeling of uncertainty on the part of industry, and uncertainty is the most difficult thing for business to face. There was a fear that if this bloc succeeded in rewriting the tariff bill in its own way it might come to be- lieve that it had the power to reduce —e Washington Stock Exchange SALES. ‘Washington Gas 6s A—$200 at 100, $1,000 at 100%,, $200 at 100. Patomac Electric Cons. 55—$3.000 at 98Y,. Capital Traction 55—$50 at 90. Potomac FElectric 6s 1953—$1,000 at 10515, $1,000 at 1051.. Washington Gas 6s B—$200 at 1015, Washington Rwy. & Elec. 45—$1,000 at 81% . Capital Traction Co.—10 at 79. Potomac Electric 6% pfd.—5 at 108, 5 at 108, 2 at 108. Potomac Electric 54 % pfd.—3 at 103, 15 at 103, 5 at 103, 5 at 103, 5 at 103. ‘Washington Rwy. & Electric pfd—20 at 943, 5 at 9434, 10 at 943, 10 at 9414, 1 at 9435, District National Bank—10 at 218, Liberty National Bank—10 at 210. Firemen’s Insurance Co.—5 at 42. Commercial National Co. pfd—20 at 101%. Mergenthaler Linotype—15 at 1027, 10 t 1023, 2 5at 1025, 35 at 102%, 10 1023, 15 at 102%. National Mtge. & Inv. pfd.—100 at 3%, 80 at 3%. Real Estate Mtge. & Guar.—170 at 7% AFTER CALL. Potomac Electric 515% pfd.—1at 1023, 50 at 10234, 20 at 102%. IN SALE PRESSURE Losses General—Few U. S. BOND LIST LOWER | Cosox vomx BONDS imoe excman] Received by Private Wire Direct to The Star Office Sales. u(:l'l:‘l?' :TAHJ‘- North Am Edisbs.. & Bales. High. No Am Ed 6%s’62. 4 Nor Ohio Tr&L 36 9931 Nor States Pow 6s.. 661 1001 9931 1001 Nor States Pow 6s. 12 9913 9910 9910 ®... 110425 10422 10425 US4s1944 20 10724 10722 10742 USeyab3. 14 11124 11120 11124 | Pan Amer Pete Pan-Amer Pete FOREIGRN. 1 Sales. High. Low. Close. 6sJuB9.. 35 96% 96l 964 680ct69 18 97 961 97 |Phila & Read May '61. 96% | Philips Petro 8% Por Ric Am Tob Argentin N Postal Tel & C A Pru A A . 348 9812 RemingtonAr Rem Rnd 5% Richfield Of Sinciair Ofl Sinclair Of1 Stinclair O11 Sinclatr Crud: Sin Pipe Line Southwest Stand OfI N Y 4% Stand OIINJ Tenn Copper 6s 4 Tenn Flec Pow 6s ¢ Tex Corp cv 53 1944 183 Transcontl Oil 6%s 15 United Drug 68 63.. 17 U8 Rub istrf bs... 25 U8 Rub 7% Utah Pow & Utilities Powr Vertientes Sug 7s. . Walworth 6: .o 2 Chile 78 1843..... Chinese Gov Ry bs. 15 26% 2414 244 Christiania 6s. .. Czecho 8= 1952 Danish Munic 8s A. Danish Munie 8s B.. Denmark ¢%u. . DET 5%sMch ‘Washington Rwy. & Elec. 45—$1,000 at Poibiaac Eleciric 6% pld—10 at 108%. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Telga Am. Tel. & Tel. ctl. Anacostia & Pot. R. R. . Anacostia & Pot. guar. 5s. City & Suburban 5s . Gas 1st 58 Wash., Alex Wash,. Balto. & Annap. 5 Washington Gas 5s Wi Gas s, series A wi Wi Gas 6e series B. h. Rwy. & Elec. 4s......... Bl MISCELLANEOUS. Barber & Rose. Inc. 8'us Cham.-Vanderbilt_Hotel § STOCKS. PUBLIC UTILITY. r Tel. & Telga tal Traction Co. ashington Gas & W. 8 Baltc. & Annap. com » Balto' & Annap. pfd NATIONAL BANK. Netional Capital B 3 National Bank of Washington. 200 307 TRUST COMPANY. American Security & Trust Co. 423 460 t o " Merchants' Bank . i 130 ° 140 National Savings & Trist 25 60 Union Trust. ... 275 300 Washington Loan & Trust G2 SAVINGS BANK. Rank of Rethesdn s Commereinl & Bavings . 30 Fact Washington..... 28 Potomac ° 315 Becurity 8avines & Commercial., 463 Seventh Street.... . Tves 308 United Btates. ... Washington Mechan! FIRE INSURANCE. American 200 Corcoran . 13 g Firemen's @ e National Union . 11111l 2312 TITLE INSURANCE. Columbia Title. : : 8 10 Real Estate Tiile a5 180 Title & Inv. of Md. com.. . !l ‘30 Wash. Cons. Title pfd...... ... 50 MISCELLANEOUS. arber & Ross. Inc.. com....... 17'; 20 Bhery Chace Dairy pid 1037 108 eh ofumbia Eand & Gravey otd. 80 88 ommercial’ Ko g ola " Faper Mis S fatl, Becurities bid Storage p! ses deral-American Co. com jeral-American pfd. aoaton Monotype . .l lerchants' Trans. & Storage '\ 113 120 Merchants’ Trans. & Stor, otd.. 100 Mergenthaler Linotype 102! Nall. Mige. & Tnv. pid . 59 Peoples Drur Stores pld. """ 105 110 eal Est. Mtee. Guar, pfd. "/, 7 4 acurity ‘Storage er, Ref. & Whr. Corp P}:}lrflfc])‘ fll,fl.. ‘com’ th: Medical Pid Cais ard & Lothrop pid. Gen Cable 5148 4 Dutch East 1 6547, 17 101% 1014 101% Dutch East T6s 62,. 7 101% 101% 101% El Salvador 8s 48... 8 108% 106% 1064 Youngstn S & T 6s. 52 Ann Arbor 4s. . Atchison gen 4s. ad) Atchdeb 4148 43, Atlantic C L ¢s. AtlantieCL 43%s 64 Finland a f 6545 Finland 7 French 74%s. German Bank rman E1P ¢ German 7 Haity Hung: Trish Fr Ttaly 78 Ttallan Japanese 6%n. ... .. Kreuger&To'l s et. Lyons 6 Marseflle 6. Mex 451904 Mexico 4810 Bklyvn Un EI 63 st: Buff R & Pitts 4% Bush Term con §s. Can Nat 4% 30 Milan 6%s.. . Montevideo Netherlands ew So Wa New So Wales 53 Nerd 6% Can Pac §s ‘44 rots. Norway 63 19 K 95 Car Clinch & O Norway 5% Ta Car Clin&Oh1 Norway 6s Cent of Ga 6sC Central of Ga 5% CentPac4s........ 4 Cent Pac 1st 65 90.. 43 Ches & O Corpn bs. Ches & O gen 4 %s.. Ches& O4%s93 A, 2 Chi& Alton 3%s.... 6 Norway 65 1944.... 20 102% 101% 102% Norway 61%481952.. 6 1024 102 1024 Orient dev 53 n £8. Poland 6s 40. .. 3 Poland 7s (rets). T Poland 8s. . 15 5 10215 102 102 : 16 106'% 105% 106 6 Chi MEStP4Ke E.. 23 Chi M1ISP&Pacbs7s 93 CMSP&Pac adibs03 102 Chi& NWegn3iks.. 1 ChiN W 4%452037.. 2 Chi&NW 4551987, ©§ 15 1 Sao Paulo 1950 12 Saxon (P s selll] Chi Un Sta bs. Chi& W Ind cn C&WIbWs62 CCC&StL deb 4% Toho El Pow 7s... Tokio 5% 1961 Utd Kingm 5%s Utd Setam Copen §s 9 Cuba Nor 6%s cta.. Uruguay 951 951 [¥Del & Hud 1strtds. 1 Uruguay 104 104 |Del& Hudb%s. Vienna 6x ‘52 R2% A2y | Del& Hud 7s30.... Den & Rio G en Den&RioG 43%s: D Rio G West 5 DRG & Wt b Det United Warsaw 7s ‘5! Yokohama 6s... MISCELLANEOUS. Abram&Straus 6%s 26 100% 98 Alleghany Cp 6344 78 99% 98 7 99 97 2 105 105 1 95 04u 64 1017% 100 27 100 99% 24 10315 10245 102% 122 134 125 125 29 102 101% 101% 50 102 101 102 25 105% 104% 105% Fia East C6sT4. ... Fonda J&G 4%s 63. Gr Trunk st db Grand Trunk 7s Gt Nor 4%8 76 Gt Nor bs. Gt Nor 5%, Gt Nor gen Green B & W Hav El Ry 6 Hocking Vi Hud & Man a) b Hud&Man ref & Armour Del 5%, Atl Gulf 58 6! Atlantic Refin bs. 72 100% 100 100 Bell Tel Pa 58 B, 103 102% 102% gl“h;rlhl PabsC. : ;0!% 103% 103% ethlehm Stl pm bs 13 100 99% 100 Beth Steel rf 6 102% 102 102 | T} Sent4sba Beth Steel 6% 6 104% 104% 104% [ 11} Gems 4 30 66 103’5 103 103y | Int Rapid Tranasa. 3 99% 9" I.fl Int Rap Tr 6sstpd.. 2 95% 9% 95% | jnt RapldTrans ¢s. 4 9;: 9816 "’ Int Rapld Trans 7s. 77 9 o4 o0 |mt&GNoristss. 19 B 324 824|mntaG Noradiess 13 105 104% 105 | Nt RYSCA 6%arct 16 v Towa Cent rf 4s. 46 45 45 . 45 44 4L |towacentists 99% 99% 99% fi-ncnysx. " " " ansas City 100% 100% 100% | g Det Edison 63 106% 106% 106% | ¥*0 City Torm Dodge 6s. .. 91 90 91 |LakeShoreds3s,., 13 Donner Steel 7 102 - 102 102 |Lehi Valends..... 1 Duquesne 4%8 67.. 14 97% 97% 987% | LehiVien 43552003 10 .27 t9 98 98 |Lehizh Valley6s20 3 n Mot Ae Cor 99 99 9y |Longlsrfds4s.... 3 odrich 6%s . 23 105% 105% 105% | Lonk Is6s37....., odyear bs rets... 29 91% 90 40 [Louis&NashbsB. 5 Hoe & Co 6%s. 1 82 82 Lot Det Edison 58 40 Hunible O 63, 21 99% 99% Humble O & RE%s. 41 100% 100% | 111 Bell Tet 5, 2 103 10134 1021 | Market St 7s 40. 11l Steel 4% » . 1.98 98 98 | Minn & StLen bs. 1 Inland Stl 4% 45 921 9% 9IN|MIIEIRy&Lb6ss1 2 Intl Cement 5 914 90% 90% ! MIll El Ry&Lt 4% s Intl Mateh 68 47 20 95% 95 85 | Mil )l Ry & L 68 61 Int Mer Mar 1901 90% 90% | M StP&SSMgn ds.. Int Paper bs 47. 88 BB | MStP&SSM54a. inter Paper 68 88% 8% | M StP & S Int Tel&Teleg 4% By Nex: 93 3 IMK&T4sB.. KanCity P& L 6s.. 11 101% 101 101 | MK &T adj6s. Lautaro Nitrate 63 64 86 85 5: .} Mo Bxe BMe 0 ovt. 174 Ligket&Myers 6551 4 101 100% 100% | MOb&O 4345 77 eta. { 1.oew's Inc 6 101% 100 100 |Montreal Tr s B 55 f.oew’s 68 w 0 war 91 $0% 91 |Nassau El4s61. Lorfllard ba. 3 82 82 82 INOTex& M bs Loriiliard 6% 9 B0 79% 9% NOT&Mb%s LouGan& ) 6882, 2 100% 100% 100% | N Y Cen gen 3%s. . Manati Sugar 1%8 tj' 78 78 78 [N YCenLScliys. 3 Midvale Steel 6s... 17 99 98% 99 Montans Pow bs 43 100% 100 Montana Pw deb b8 127 978 97 Mor's&Co 18t 4 s, 10 77% % Nat Dairy 6% 114 95 944 iator 30 20 26W% 103% 103 10114 101 106% 105 O 10u8% 10v% N ¥ Edl:on 6% B 111% 15ty NYCKSILb%sA 39 NY 2 9u% C&StL6%sB &6 NY 11056 10, NYC&StLEsA.. 30 NY 84 98 354 L NY N X 27 RAILROAD. 95% | St (nt Tel&Tel 4%8ev497 123 114 114 (MK&TprinbsA. lafi 6 KanGa K 6shz... 9 103 102% 103 | Mo Pacifiogen ¢s.. 164 Kendallstos ¢S war 1 99 90 90 |MoPacSsA 65 3 lackawa Sti bs ... 2 100 100 Mo Pac bs F 77 43 Laclede G 6%862.. 4 101% 101% Mo Pac 5s G 78 10 ¥ ¥ ? 3 ¥ Cont deb 6s.... 24 Y& StLdebds. 4 \Y CESIL 4%uC.. 10 v ¥ Y Y Y ¥ 8 &H & H3%8'56 29 &H Nor & S gen bs 6 Norfolk & W en Nor Pacrf 6 Ore Short L rf & Ore Wash 1t Port EI PL Rio G West el 48. RIArk& L 4% StIL IM&S gn [ 7 16 ? Tol Tr L&P 6%830. 9 99% 99% 994 Unfon Pao 45 68 2 8T% 8T ST Union Pac 1st 4 5 93% 93K 934 Unfon Paclstrf4s. 21 89 83 89 UnionPac4%s67.. 3 96 96 96 Virginia Ry 1st 12 1034 103 1034 New Bond Issues Special Dispatch to The Star. NEW YORK, November 12.—An issue of $18,500,000 the Harbour Commis- sioners of Montreal 40-year 5 per cent first mortgage gold bonds, maturing November 1, 1969, guaranteed uncon- ditionally by the vernment of the Dominion of Canada, as to both prin- cipal and interest, is being marketed today by the Guarantee Co. of New York, Wood, Gundy & Co., A. E. Ames 4| & Co. Ltd.; Royal Bank of Canada and B TNV L FINANCIAL. S 118 the Bank :g%umm ‘The bonds are Money to Loan dued of trust on reat estate. B, J. Van e M. F. Schiater & Co., Inc.; r & Co., M. M. Freeman Co. offer a new issue of 500,000 Township of , N. J. and 6 per cent bonds, due tober 1, 1930, to 1985, at pri from 5 to 5.35 per cent . g is being made today of a ,000,000 Borough of Fort cent improvement Consult Us First need money for eal Estate financing et us have your application ds, maturing serially November 1, 1932, to Noaeomberdln“ {'93‘5;‘:7 M. M. Freeman & Co. an . . Cou “The bonds are priced to Prompt Service No Appraisal Fee The Commercial National Richfield Oil Corporation of New York is establishing a chain of bulk storage terminals on the New York ‘The first unit, at perating before the canal closes for the Winter. It will ve storage capacity for 11 have storage capacity for 110,000 barfels. BOND MAN Paia up Cosh Capiial. s900.000 Commereia) Nafiona) Bank ide. Phone District 2672 We Recommend for INVESTMENT the Immediate Purchase of AMERICAN FOUNDERS CORPORATION COMMON STOCK We Also Recommend the Purchase of UNITED FOUNDERS CORPORATION COMMON BROOKE,STOKES & Co. Washington 732 17th St. N.W. connection with con- Fully Real Estate Loans Applications invited at lowest rates and commission —econom- ical consideration for borrowers. Both large and small negotiated— prompt replies. Moore &Hill, Inc. (Since 1900) 730 17th Street N.W. it interested only 14th and H Streets Capital, $1,000,000.00 Checking Accounts Savings Accounts Acceptance Credits Time Deposits Foreign Exchang Commercial Credits Travelers’ Credits Travelers’ Cheques Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets WADE H. COOPER, Presidemt Capital, $1,000,000.00 Unconditionally GUARANTEED Swmma - 3 3 ° 2 & ° 2 5 Bigger Than the Stock Market Lifetime earnings swept away— homes lost—nervous breakdown That’s the tra story of the recent market break. 0 78% 78 78 0 133 £ 11 96% 954 954 Wheel&LE rf ¢ 2 87 87 87 ‘Wis Cent gn ¢s ¢! L . o N R —and worse. hurricane every owner of our 6% First Trust Notes knew that the Principal and Interest were absolutely SAFE. Think it over. Refinancing at Low Cost To those who are confronted for the first time with home financing problems we offer the competent counsel of forty years experience in this service : judgment directs many who refinance to avail themselves of our low interest rate. FIRST MORTGAGE FUNDS (Thvee years or longer) 1% H.L.Rust Company National 8100 We Invite Applications for FIRST TRUST LOANS on Improved Property NEARBY MONTG Y CO. AND Ti TRICT OF COLUMBIA Our keen perception of every possible contingency in the mai- 1001 15th Street N. W. Jer of avolding tedtous delay and '8 H'E'D annoyance is a definite advantage to builders or prospective mort- S 0 PHE METROPOLITAN DEALERS otor Co.. Inec. Universal Aute Co., Inc. 48 Conn. Ave. 1016 14th St. ecatur 1762 Tel. North 1 ur ward Motor C . 3. Ave Tel. North 0456 District of Columbia. Government supervision. (5] over $750,000.00. > o reputation. Companies. CAPITAL National 9300 THE IDEAL INVESTMENT UNQUESTIONED SAFETY BECAUSE the Bonds of the Federal Security and Mortgage Company are: . Secured by small mortgages on properties in the 2. Guaranteed by a strong independent Surety Company, with resources of over $5,000,000.00, under State and . Further guaranteed by the Federal Security and Mortgage Company, with a capital and surplus of . Trusteed by a large National Bank. . Mortgages appraised by independent exyerc’n of known 6. Legal investment for National Banks and Insurance Federal Security ¢ Mortgage Co. 153232 K Siree: SURPLUS OVER $750,00 O investigate carefully and an- alyze thoroughly--to thus sup- ply accurate information and well-informed advice, is, we hold, the first responsibility of the investment banker. You will, therefore, find the cooperation of our Statistical and En- gineering Departments as complete and convenient as our Bond Depart- ment and Stock Exchange facilities. Baltimore Stock Exchange Richmond Stock Exchange J-A . Iglehart & Co. Investment Bankers 719 15TH ST, N. W., WASHINGTON, D. C. Robert Stead, Jr., Resident Manager WILKES-BARRE RICHMOND CLARKSBURG WILMINGTON CHARLESTON DO YOU WANT 3150 1 $50(0 more " for your old car? - TRADE IN NOW ON A BRAND NEW Hudson or Essex Local clearance sale to make way for 1930 - Models. Stocks are limited so act now to get the Super-Six of your choice. LAMBERT-HUDSON MOTORS CO. DISTRIBUTORS—PHONE DECATUR 2070 Corner 14th and R Streets N.W. Service Station, 24th and M Streets N.W. McDevitt Motor NW. 2017 14th St. N. Tel. Col. 3747 Schultzers Motr Co. Tel. Lincoln 6265 Investment Securities We believe that the present market offers unusual opportunities for investment in high grade securitis, both Bonds and Stocks, and that investors who are willing to disregard minor fluctu- ations can now make commitments with utmost confidence. We will be glad to submit our recommendations without obligation. Ask for our latest circulars on Common Stock Values Attractive High Yielding Investment Bonds STEIN BROS. & BOYCE Established 1853 Woodward Building WASHINGTON, D. C. Main Office: Baltimore, Md. Members NEW YORK, Baltimore and Washington Stock Exchanges ' Associate Members NEW YORK CURB EXCHANGE