Evening Star Newspaper, November 26, 1929, Page 13

FINANCIAL. THE EVENING STAR, WASHINGTON, D. C, TUESDAY, NOVEMBER 26, 1929. BONDS IRREGULAR | oo wonx BONDS oce secmav] e e e o | TERPRSE SERUAL | i Tt Notey IN HEAW TRAmN[; o oas o e Now Available g 4 1054 1054 103% 104% 6% 17 95% 98% 104% 104% 108 108 1014 101% D e 7th St. & La. Ave. N.W. mand for machinery and machine tools in buying centers of the country held to ’ Sales. Migh. Low. 2 LouGas & EI6s83. 5 1024 Manati Sugar 7% 4 6L MeCormck ER 65°34 10 200 UNITED STATES. (Sales are in £1.000. Sales. High. Low. 2:58 Stockholders of the Equitable Cas- High-Grade Domestic - List; Scores Gains—Specula- tive Group Declines. Bpecial Dispatch to The Star. NEW YORK, November 26.—Today's bond market was irregular under heavy trading. Buyers were confining their activities to a few selected issues, but none of these moved widely. Gains ‘were in the majority in the high grade domestic list, and losses were more general in the speculative section. ‘The heaviest trading was in foreign dollar bonds and here the movements ranged from fractions to 4 points, in _ both directions. Opinion seems to be that the upturn in these bonds has reached a peak for the moment. Those who bought at the low prices of two, ‘weeks ago have indulged in a consid- erable amount of profit taking, great deal of which has been absorbed by foreign buying. Brazilian issues, after their spetac- ular decline, were off again today. The 614s dropped 2 points and 8s 11 points. Issues of Sao Paulo State were weak, although there was news that the state had negotiated a $10,000,000 loan in London and New York. Other bonds of the coffee states were off slightly. Other South American obligations, however, showed improvement. Rio de Janeiro 6!s, for instance, were up 4 points and Chilean and Argentinian credits were also higher. European de- scriptions were quiet. Convertible domestic bonds were quiet and at unchanged prices. The only exception to this were Public Serv- ice of New Jersey 4158, down 51 points, Colon 6s were up 4 points after their wide decline of yesterday. Other ofl company issues were strong. In the miscellaneous list, Hudson Coal 5s were 1% points higher. Junior issues of the railroads were nearly all lower, but the losses were only fractional, except in the case of Seaboard All-Florida “A" 6s, down 43 Washington Stock Exchange SALES. ?wawmuc Electric g:i%‘;sggm:) ‘::, :05. ashington Gas ,000 af 9 Washington Gas 6s A—$200 at 100%, $100 at 10014, $1,000 at 100%%. ington Rwy. & Elec. 45—3$1,000 at 82, $1,000 at 82, §1,000 at 81%. Capital Traction Co.—10 at 75, 10 at 5, 5 at 75, 2 at 75. # Potomac Electric 5% pfd—2 at 10414, 6 at 10474, 1 at 10415, 10 at 104Y, TFederal-American National Bank—10 at 295, Security Savings & Commercial Bank— 20 at 476. Lanston M%26:55107%. Merchants’ er torage_com. 10 at 111, 10 at 111, 10 at 111, 10 at 0 ¢ 111, Merchants’ Transfer & Storage pfd.—8 at 9 9. Mergenihaler Linotype—10 at 104, 10 at ptlonal Mige & Tnv. pId.—100 at 3% & h V. ", s o tes. Drug Btores pfa—10 at 102, 10 102, AFTER CALL. ‘Washington Gas 6s A—$500 at 1003, ‘Washington Rwy. & Elec. 45—8$1,000 fimn & Potomac R. R. 55—-$1,000 at 83. Bid and Asked Prices. BONDS. MISCELLA Ross. Inc. 6iss. Jagdersiit. Hotel rms Dairy 8%s. se_Club. Bl NATIONAL BANK. fonal Capits Soliomnia Commerct District Lincoli N : ational Bank of ‘TRUST COMPANY. American Security & Trust Co. a) t fi-hmmn' Wechiani FIRE INSURANCE. merican 00 TITLE INSURANCE. lumbis Title:. ....... al Estate Titie. tle & Inv. of Md. com ‘ash. Cons. Title ptd MISCELLANEOUS. arber & Ross, Inc.. com. Bhevs” Chase Dairy bfd Col. Sand & Gravel pfd Gommercial Natl. Co. ptd. Mersenanaler Linotspe. | atl. Mtge & Inv. pfd Peopies Drug Stores pfd.. .. Real Est Mtge. & Guar. pfd curity Storage. . AR T Ret & b e Carpel Corp ash. Mech . Wash D00 ar BSOS 1117} *Ex dividend. 1% extra 74 9831 9831 9831 L t4%s 121 100 28 10020 100 28 Lib 4th 4% 120 1011 10029 1011 Uss 3. 490 9924 9924 9924 7. 390 9924 9924 9924 s 3 10811 10811 10811 %sb2. 22 11212 1129 1129 FOREIGN. Argentine 93 20 93 93 923 7 102% 1024 102% 914 924 9 Austria Bank of Chile 8% Bank of Chile 6%, Belgium 6: Belglum 6% Belgium s Belgium 7s 1 Belgium 7% 107% 107% 105% 106 115% 116% 109% 110 % % 9 97 96 07 1 101% 101% 101% 17 82'% 80 Brasil Bremen State 7s. Canada 6s 1931, Canada §s 1953. Chile 0. Chile 6561 27 90 Chile 78 1943 . 9 99% Chihese Gov Ry bs. 11 24 Cnlombia 6s Jan'61 11 784% Con Pow Japan 7s.. 17 981 Copenhagen 44853 20 89 Copenhagen 5sct.. 10 94% 944 Cuba 5%s. ... 8 101 101 Crecho 83 1951 14 111 110% 111 Csecho 8s 1952 2 109% 1094 109% Danish Munfo8s A. 1 1094 109% 109% Danish Munie 8s B.. 2 109% 1091 109% 99 . 17 100% 100 100 12 100 9% 100 19 102% 102% 102% 9 90! 0 204 1034 103% 101 101 101% 101% 1 101 101 23 104 104 104 W 1101% 1 10 Fiat 7s war '46.... 5 106% 1064 106% 18 1% 90 90 12 85% 85U EBN 9 88 1 Fiat s x war ‘46, 110 117% 117% German Bank 63 '3 5 86 5 &5 German EIP6%s.. 2 93 92% 93 German 7s.. 84 106% 1064 106% 12 100 100 100 . 18 82 0% 80% o 6 984 9By, 98y Hungary 7% 1 9 99 99 Irish Free State8s, K& 96 96 86 Ttaly 78..,.. 76 95% 95 96% Ttallan Pub S 7s.... 15 92% 924 924 Japanese 38 94w 93% 934 Japa: %! 31 102% 1024 102% Kreuger&To'l sot. 58 93% 93 23 Lyons 6s. e 3101 100% 101 Margei] Mex 451904 Mexico Milan 6% Montevid Netberland: New So Wa! 2 2 48 11% 11% 11% 8 85 B4% 85 11 984 98w 984 1105 106 105 3 914 9IY VU 92 o 92 6 102% 102% 102% 20 95% -95% 9% 9 100%, Norway 6s1943.... 24 103 Norway 65 1944.... 14 102% 1024 1034 Norway 63%s1962.. 16 102 101% 102 11 87 87 R 103 101% 102 108 108 97 97 864U [ 905 RhineWst EP 7s 50 Rio de Janerio 6%s 82 Rio de Jan 38 194 100% 100% Rio Gr do Sul 63 43. 718 2 9% 99% 5%, £ 9w’ 97 Midvale Steel 6s... 52 100 Montana Pow 6s 43 Mor's&Co 18t ¢ % Nat Datry §% Nor Ohio Tr&L. Nor States Po' Pacific Gas & E1 PacT& T Pan Amer Pete Paramount 2 101% 1014 . 16 100% "o 6i Phila & Read Philips Petro Por Rie Am Tol . Postal Tel & C5%s Pressed Stl Car Rem Rnd 3%s war. Richfield O1 65 "¢ 20 95 15 984 33 99y 84 9% 51 101% 21 964 12 94 3 9% 51 101% 2 103w 0 106 Tex Corp ev 5 1944569 102 Transcontl Ol 6%s 53 99 United Drug 6s 63.. 49 95 USRubistrt 15 Ann Arbor 4s Atchison ad) Atlantie CL AtlanticCL 4% Buft R & Pitts 434 Can Nat 4% s 3 % Ches& O 44893 A. Ches & O gen 4340, . Chi & Alton Chi B&Q gen Chi&R I11 gn 5 51 Chi Gt West 45 69, Chi Ind&L ref b Chi Ind&L gen bs.. 1 ChiM&StP4 14 sC389. CM&StPGent).. Chi MIISP&PacsaTs CMSP&Pac ad5s08 266 Chi & NW gen 4s. .; 18 Chi N W 4% s 2037 93 93u[Ch 95% 95% 105% 105% ‘58 kid 87 88y [ Chi Shinyetsu 6148 52 87% 87 Soissons % 99% 99% 108% 103% 102 102 % 1023 102% | 110% 110% 8w 984 % 102% 103% 6% 9615 103 103% 2 % 76 1w . 26 95% 94% 054 MISCELLANEOUS. Abram&Straus §44s 27 1004 Utd Kingm 5% Uruguay 9% 100 69% 69% Toly 1014 102 102 103% 1081 95 96y 97 97 104% 104% 67 67 100 101 102% 1024 139% 189% 102% 102% 103 108% 105% 106% 99% 100 L Aromur&Cod % n39 89 B9% Armour Del 514 854 B4% BBY Associated Of1 101% At GuifTa 69, 71% 70 Atlantic Refin bs 101% Bell Tel Pa 63 B, 1025 Bell Tel Pa6sC... Rethlehm St Beth Steel rf Reth Steel 5148 Bethlehem Steel 63 Rklvn Edison 6 Bush Term Bldg Ce n% 101% 101% 102% 102% 106% 106% 101% 101% 102% 102% 104% 104y 104% 104% 101% 101% 99% w9l 6% 6% 81 99% 87 92% 6% 1054 1054 101% 101% 40 4 9% 994 101 1014 Con Coal Md Con Gas N Y Consumars Pow Cuba Cane cv 7 Cuban Am Sug Det Edison 101% 1013 | I .l DRG & Wst 6u 78. Det United 4%s.... 21 Duluth S & At 5s. G 4%a Fla EastC6a 74, Gr Trunk st db 6 Grand Trunk 7 Gt Nor 438 76 Gt Nor b Gt Nor 8% Gt Nor gen 7, Hocking Val 43 Hud & M 8| 111 Cent Chi 4 148 llm Rapld Trans LehiVgen 4348 003 Lehigh Valley 68 30° Long Is rf 43 49 2% a1 80% N 101% 103y 102 96% 105 100% 95 85 100 96% 104% 100% 7 , 89 9 135 844 2 87 98 854 95 82% 89 3% 101% 100% 104 1% 102 09% 99% 95% 986, 67 924 98 106% 6% 64% 101% 94% 84 92% 904 96 107% 1004 884 N 93% 100% 9 B8y 97 a steady level in the past week, the American Machinist reports, but the month so far is running true to form and slight seasonal declines were evi- dent in certain sections. changed and deliveries show improve- 9% 9% 128 129 % 106% 106% 60 60 8% B 184 20% 18 21 73 8% 86% 85% 59% 61 64 64 98 98 891 89% 1031 103% 112 112% 97% 98 984 98% 104 104 | 106% 105% 105% 105% Pere Mar 1st 90 90 Pere Marq 102% 102% 27 28 9% 95U o7% | PortRLP Reading gen 4%o A 5 ReadingJ C 1 StL &8 F prin b St L&S F gen 6531.. StLSWistds.... StLS W con 4s33.. 11 StL S W 68 52. 3 StP & KCShL 4%8. St P Un Dep Sealbr AL ref 4 Seab AL 4 Seap AL ad. Seab AL col SBAllFla 89 107% 107% 116% 116% 121% 122 104% (044 7 100% 100% 100% Tex & Pac8sC19.. 77 100% 100% 100% Third Ave ref 4 51 52 Third Ave 1st 5 922 922 Third Aveads bs... 2: Tol Tr L&P §%4» 30, 9% 99% %76 14 104% Union Pac 4% Virginia Ry 1st « 16 104% 104 104% Vv Ry & P b 10 100 99% 99% Va Southwn con 6s. 26 8¢ €3 84 90% 904 101 101 99% 998 23 104% 104% 104% 113 81 80 8L SEE STRATEGIC MOVE IN RAIL STOCK OFFER Special Dispatch to The Star. BALTIMORE, November 26.—The offer of the Pittsburgh and West Vir- ginia Rallroad to purchase the Balti- mare & Ohlo stock holdings in the Western Maryland, made to the Inter- state Commerce Commission yesterday, is looked upon in railroad circles here as a strategic move in event the com= mission orders the Baltimore & Ohio ta surrender its stock. Final argument was heard by the commission last week on that ly's order to the Baltimore & Ohio to show cause why it should not divest itself of the Western Maryland stock, under the Clayton anti-trust act. The ahontas and West Virginia, 1t was mlnwd out, intervened in these proceedings and opposed the Baltimore and Ohio ownesship of the stock. With the filing of the application, it was said, a purchaser is assured if the stock is ordered sold. P E 'hflln. chairman of the board of the Pittsburgh and West Vi ia, some time ago outlined a plan for a through-traffic route between Baltimore and the Great Lakes by way of his road, the Western land and the Wheel- ing and Lake Ere. This was made possible by the action of the Interstate Commerce Commission in granting the P. V. W. Va. the right to construct the Connellsville extension connecting its tracks with the Western Maryland. ’\\ Washington's Own GOOD ENVELOPES ARE JUST GOOD BUSINESS AND IT$ JUST GQOD BUSINESS TO LET THIS LOCAL FAC- TORY ASSIST YOU IN YOUR ENVELOPE PRQB- LEMS, ACE FOR QUALITY and*SERVICE JCTORY ROSSETN va. 2T DR, PHONE WEST 0380 FOR QUOTATIONS ualty & Suret; ine icrease in capital $1,000,000 to $1,300,000. Prices are un- capital and $30 to su: 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 Phone District 2672 732 11th St N.W. . JeH ‘Pay You in Many Ways" —to place your apartment house properties under our management. You'll be saved all worry with details—with assurance of the greatest possible revenue. More Than @ Third of a Contury’s Ezperience B. F. Saul Co. Natl. 928 2100 Fifteenth WE have prepared a list of .- Common Stocks with estimated earnings per share which we are recommending for investment purchase at this time. The list is avail- able on request. WESTHEIMER & CO. Members New York Stock Exchange Members Baltimore Stock Exchange Members Cincinmati Stock Exchange Members Chicago Board of Trade Ground Floor—Woodward Bldg. Telephone National 5500 F. B. KEECH & COMPANY We maintain complete departments and private wires for the execution of orders in COTTON GRAIN SUGAR COFFEE RUBBER H CORNER 17TH ST., N. W., WASHINGTON NEW YORK PHILADELPNIA movioewes Members of New York Cotton Exchange | New OrleansiCotton Rxchange Liverpool Cotten Exchangs, Ltd, (Asses. Members) Bremen Cotton Exchange (Assoe Mombers) Wisnipeg Grain Bxchange Chicago Board of Trade N. Y. Coffee & Sugar Eachange, Inc. Rubber Bxchange of New York, Ine. New York Stock Exchange New York Curb Market for your old car? Co. have approved an The increase will be effected by the issuance of 30,000 new shares at $40 a share, $10 going to 6% JAMES F. SHEA, 643 Louisiana Ave. N.W. : STEIN BROS. & BOYCE Batablished 1353 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 end Washington Stock Exchanges Asseciate Members Now York Curb Exchange Anticipation and Realization Are synonymous terms when FIRST MORTGAGE NOTES Are the Medium of Investment After years of experience, through good times and bad, they continue to meet every requirement of absolute security and maximum yield. 6 HANNON: & LUCH 1435 K St. N\W. Nat. 2345 interest checks mailed day prior to due date > 9 Associated Gas & Electric System #8 Interest Bearing Allotment Certificates Three-tenths share Additional $§ Preferred Stock Included and Cost Reduced In view of the recent drastic decline in all security prices the d of Directors of Associated Gas and Electric Com- pany has decided to authorize the medification of its $8 In- terest Bearing Allotment Certificates so as to make them much more attractive and has authorized a price from $133 to $120, without, however, making any change in the in- terest rate of $8 per aanum. The amount of Associated Gas and Electric Company $5 Dividend Preferred- Stock inclyded in each Allotment Cer. tificate will be increased one-half times from one- fifth of a share to ope-half of a share. This change will also make the securities included in the Allotment Certificates more largely of a fixed return investment character, thereby lu‘rqwni:m‘ with the present trend of the best investment advice. The reduced price. of $120 will materially * increase sleld of the Allotment Centificates, as'no reduction will be made in the interest rate. The increase in the amcunt of Preferred Stock will also substantially increase the return when the * Allotment Certificates are exchanged for the securities. The high point in the market value of the securities in- cluded in each Allotment Certificate before the recent drastic reduction in the price levels, was over $190 as compared with the ed subscription price of $120, which is substantially _bal;": :ne present market value of the securities which are include: These changes in the Allotment Certificates present, there- fore, much greater possibilities of appreciation in principal when market conditions become normal as well as assuring a substantially large income for a smaller outlay, The new Stock Purchase Rights to purchase Class A and Common Stock which will be deliverable under the Allotment Certificates and which will represent a split-up and improve- ment of the present Debenture Rights, should command a higher price than the present Debenture Rights now quoted on the New York Curb Exchange! The present Debenture Rights, of which the Company has reacquired very large proportion, expire on January 2, 1931, wher the new “Rights" to be covered by the Allotment Certificates after they are split-up, will extend, at a small step-up in the price payable each year when exercised, for a period of over four years, and will not expire until January 2, 1934, The increase in the seturities included in the Allotment Certificates and the reduction in price will apply to all sub- scriptions whether paid in ecash or securities. The $8 Interest Bearing Allotment Certificates of Associated Gas snd Electric Company,, as above, cover: (a) Five shares of mew General Gas & Elec- tric Corperation Class A Common’ Steck (traded in on a when issued basis on the New York Curb Exchange, the old stock being Nsted on the New York Stock Exchange); (b) Onehalf share of Associated Gas and Electric Company $5 Preferred Stock; (c) Five mew “Rights” to chase Class A and Common Stock Associated Gas and Electric Company, Holders will alse have the eptien of exchanging any Allotment Cortifieata, after July 1, 1930, for either (s) $190 priucipal amount of 3% Convertible Gold RAILROAD TARNINGS. 106 106 De NEW YORK, November 26 UP).—A | pspciison oL moderate falling off in railroad earnings | - 98 98y in October, as contrasted with the cor- 85 &5 responding month of last year, was| MU 9T% indicated today in the reports of a 99% 100's wnber of carriers operating in various 5 Long I deb 6s. B h § Louis & Nash 7s, Man Ry lst 4890, . Market St 78 40. Mill £l Ry&Let 4 % Mil E] Ry & L 68 61 Minn & StL ref ¢s. . TRADE IN NOW uON A BRAND NEW udson or Essex pany & Electric Corporation and to certain other security holders entitled to Such “Rights” to subscribe are “listed” and may be purchased by not stockholders tions of the country, although a few showed further gains. Among the roads reporting, together with the net operating income for last month and the comparative figures for a year ago, were: Railrond riolk & Western. ... icago & Northwest- ern 5 : ‘We Invite Applications for FIRST TRUST LOANS 111 Steel 4%8 on Improved Property Stocks are limited, so act now to b D L ; K iR tn || get the Super-Six of your choice, { 'RIBU' o 207 [borner 14th and R Streets N.W. Service Station, 24th and M Streets N.W METROP EALERS esimever Mooy Coi Bons D TAN DRAIERS.1 4 344-48 Ave. Humble O & 111 Bell Tel 8s. 3,520.972 pany, 61 Broadway, New York City. | Inter Paper ¢ 1 SOOI TelaTeler 4% 1 int Tel&Tel 4%sev 74 122 ANG A& EAeb2 62 1041 1041 Kan City P & L b8 102% 102% { 4 Kendalls bs 48 81 87 994 09 1028 102% | Nat Ry Mex 48 7., 1024 |2:¢.|Norutul B. 86 3.442.752 31112,502 2,067,904 1,270,112 1751570 892,076 250,985 231,444 Our keen tion of every 3t possible conti n‘:’ in the mat- ter of avoiding ted: delay and annoyance i3 a definite advantage to builders or prospective mort- gagers. BOSsEmELPS| _ 1417 K St National 9300 Associated Gas and Electric Conipany @ New York City L.ackawa Stl Co. 2 ves. N.W 04368 Sehuitaey N o0, Uin nnea 5 rfolk Southern.. Louts-Southwestern H —_— Cattle thieves have stolen animals| j.0e worth thousands of doliars in the vicin- Loril! iy ot ok, Westphalia, 136663 628649 , recently, Lorlil