Evening Star Newspaper, December 10, 1929, Page 13

F BOND LIST LOWER ON PROFIT TAKING Slighi Firming of Money| Rates Affects Speculative Issues Particularly. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK. December 10.—Bond prices were lower today. The declines were attributed to profit-talking, occa- sioned by the slight tightening in money rates, to the resumption of activity on the stock market and to a fair volume of foreign selling. As was the case Monday, United States Government obligations were weak and one or more points below their high prices for 1929, at which level they stood at the end of last week. Treasury 4128 were off 5-32 be- fore midday, and the Government list sagged with them. In the high grade list, New York Cen- tral 5s, Pennsylvania General 4!4s. Soutern Pacific_4!4s, Union Pacific is of both issues, Northern Pacific 4s and standard Oil of New Jersey 5s were all Jower, although the losses were con- fined to fractions. The breaks were wider in the speculu- tive list. Anglo Chilean Nitrate 7s and Chile Copper 5s were both off a point. In this section the second- grade bonds of the railroads were sold at prices which, considering the activ- ity, maintained their levels fairly well. St. Paul adjustments lost a quarter of a point. Similar declines were registered by Chicago Great Western 4s, Denver & Rio Grande Western 5s, Erie general len 4s. Florida East Coast 5s, New Haven 6s, St. Louis-San Francisco 413s, Boston & Maine 5s and the Seaboard Air Line descriptions. However, a few rails managed to make headway against the market. International Great North- ern adjustments were up a point, Mis- souri-Pacific 5138 up 1%, Seaboard All Plofldl A 6s up % and Wabash 4%s pom.n credits were irregular, with French and Italian bonds strong and South American loans weak. Brazilian government bonds were off 1 or more points and loans of the cof- fee states—Antioquia, Cundin, Marca, Cordoba and San Paulo—were down fractionally. French bonds, especially the industrials, were higher. New issues today included $3,590,000 City of Buffalo 4 and 4% {}er cent gold bonds. These are exempt from all Fed- eral and New York State income taxes. Their price of 100 indicates the favor- able prices anticipated for the New }’.ork City bonds to be bid for Wednes- ! New Securities By the Associated Press. NEW YORK, December 10.—New se- \ curities offered today include: City of Albany, N. Y., $2,125.000 4% per cent bonds. at prices to yield about 4.05 per cent offered by Stone & Webster & Blodgett, Roosevelt & Son and George B. Gibbons & Co. City of Buffalo, N. Y., $3,590,000 gold ‘bonds, consisting of $1,140,000 4 per cent, due December 15, 1930-1959, priced at 100 and interest, and $2.450,- 000 4% per cent, due December 15, 1030-1945, and priced to yield 4.50 per cent. Offered by a syndlclte comprising | White, Weld & C Ous Co, E. H. Rollins & Sons and other: Bergen County, N. J., 31.25!,000 4% per cent gold bonds, priced at 4.25 and 4.50 per cent, according to turity. Offered by Graham, Parsons & Co., Dewey, Bacon & Co. and others. Clearing House Statement. NEW YORK, Detember 10 (P).— Exchanges, | Clearing house statement: 1,747,000,000; banlnm-&. 190,000,000 Washlngton Stock Exchange SALES. Capital Traction 5s—$1,000 at 92; $4.000 at 92. Washington Rwy. & Electric 4s--$1,000 at 84. Potomac Electric 6% pfd.—20 at 108, 10 at 108, 10 at 103‘. 40 at 108, 20 at 10874, 5 at 108! Washington Rwy. & Electric pfd—20 at Mmenthller Linotype—10 at 107, 20 at 1067, 10 at 107, 4 at 10673, Washington Gas 6s A—$500 at 102, Dls:n:; National Securities pfd.—10 at 95. Lanston Monotype—1 at 105. AFTER CALL. City & Suburban 55—$1,000 at 81. National Mtge. & Inv. pfd.—100 at 3%. Unlisted Department. BONDS. PUBLIC UTILITY. Amer. Tel. & Telea. 43! & Tel ctl'u d. Offer. & Elec. 45 umcm.uncus Barber & Ross. Inc.. X PR Janderpit Hotel” 85, ghery, Chase Club 6 Em ‘Joing Gtock Ld. Bl HAL Coid Storage 5. STOCKS. PUBLIC UTILITY. Amer. Tel. & Telga... Capital Traction Co Washington Gas W. Steamboat Eotomac Elec. 67 pfd Potomac Elec, 513 W wy. & Annap. ‘com. Ballo & Afnap: ofa- NATIONAL BANK. rict Pederal- American” "/ Lipesty . Kitiona1 Metropoiitan TR Second e & National Bank of Washi) TRUST COMPANY. American Security & Trust Co.. Continental’ Trust..... Merchants National Savings & Trust Union Trust Washington Loan & ‘Trust SAVING BANK. National Union TITLE INSURA Columbia Title g a4 Real Estate 175 Title & Inv. of Md. com. 1 :1!] 30 MISCELLANEOUS. Barber & Ross. Inc. com.. 17 180 y pfd. 108 87 i03 55 86 5 102 Federal Storage b Pederal-American Co ' com. I-American pfd. Peoples Drug Stores pid. . . . Real Est. Mtge. & Guar. pfd Security " Storage. Rer & W Corw The Carpel carp A Wash. Mech. Mtge. com Wash. Medical Blds. Corp Woedward & Lothrop ptd.. *Ex dividend. tBooks closed. INANCIAL, Argentine Argentine Austraiia 4% 8 56 Australia 58 1955 Australia Austria 7 Bank of Ch! Bank of Chile G'A Belgium 6: Belgium 7T4%s, Bo!Khlm L B Colombla 6s Jan Con Pow Japan Copenhagen 4% Copenhagen 5s ci Cuba 6}s.... Czecho 8% 1961, Denmark 4%s. . Denmark 5%s ‘55, Denmark 6s Dutch East I 8 Dutch East I 68 62 Fiat 7s x war " Finland 6% Finland s Finland 7s. Greek 63 1963 Hait1 6s. ... Hungary T4%s Irish Free State italy 7s. Itaifan Pu Japanese 4s. . Jnpanese Rl w Karstadt 6s 1943 Norway 6%s Norway 65 1943. Norway 6s 1944. Norway 6%s 1953, Orfent dev 5% 68. Paris Orleans Peru Pery mo de Janerio Rio d Rio Gr do Sul & Rio Gr Do su| [} Rome 6158, Sao Paulo = 1936 <30 Paulo 1950 Saxon (PW) 17 Seine 78 42 Serbs Cr S} Serbs Crot Slo Shinyetsu 6148 Sotssons 6 Sweden 6% Sweden & Swiss 6% Swiss Conf ‘Toho El Pow 7 Lib éth w.. 231 10114 101 4 8 (Krellltr&To'lilel 63 95% 95 eived by Private Wire UNITED ITAT!I (Sales are Sales. m.n 2:58. %% b3 10028 100 28 1014 9920 9920 9920 1 9920 9920 9920 121 1058 121 1088 52. 221 1128 FOREIGN. Sales. High, 10416 1058 107 16 1088 11113 1128 Low. 2:55. 9874 9874 14 101% 1014 1014 1 104% 104% 104% 2 6 5 & 91 91 1.100% 100% 100% 1 78 78 9 101% 1017% 101% Chicago N W Chi& NW ref ChiRI&Prfds. Chi R1&Pgnds... ChiR1&P 4%s... 16 30 THE EVENING STAR, WASHINGTON, [ v BONDS o e Direct te The Star Office 1 50 7% 109% 6% 9514 89% 91 98 50 2 103% 103% 103% 28% 8% 29 Southwest Bell 1 1031 1084 1031 Stand Ofl N J ¢ 23 102% 1021 102% Stand OIl N°Y ¢ 51 97 91 97 Sug Es Orlent 7 56 6 56 Tenn Cop 63 B 9%% 93 98% 2 26 Tenn Elec Pow 9 105% 105% 105k 9 96 95% 95% |Tex Corpcvs1944149 102 101 101% 14 100% 100% 100% | Transcontl Ol 6%s 13 99% 98% 98% ig }g;": :g;v‘ }g;; United Drug 6s 63.. 14 95% 94% 954% 7 106% 106 1064 33 100% 100 100% 82 115% 115% 115% 8. 101 100 100 20 111% 111 111%] Walworth 6s'45... 3 83% 834 884 5 82 Rl 82 WarQuiniand“e’sy 4 8 87 9 27 95% 95 = 95 | Warner SBug 7841 1 101% 101% 101% 10 102t 1024 1024 5 102% 10214 1024 78 80% 8% 2102 102 102 2 Bl T 9% 3109 109 109 30 ®8% 88 ¥R [White Fagle O6%: 5 100 100 100 2% 100% 99% 99% | Wickw Spen 18t 3 204 29% 29% 16 101 100% 101 | Wilson& Co Ist6s. 8 909% 99% 99% % 100% 100% | SVIn RepeatAr 7%s 11034 103' 1084 Ak ivgw 1024 YoungstnS&Ths. 5101 100% 101 2 RAILROAD. Ann Arbor 4s. ke e g gy 1"2“ 102 Atchisonad)4s.... 15 90% 89% 89% o Atchison gen 4s.... 28 93 924 93 Oy Gmi|AsaSFevt4s05.... 1 87 87 87 Qor gow | Ateh deb 4 21 134 133 134 ii"“ Q;.»A AtlantieC L 4 6 91% 91 o1 o ek [Atlantte C L1st4s. 2 95 4% 95 'lnn 108 109 |A11& Dan lst4s 4 2 64 64 61 .:,Isznw G0 g0 |AU& Dand4s4s.. 3 biu 544 Siu 3 100% 100% 100 | B & O Gold 48, 26 92 91% 92 2 104%% 104's 104% 99% 98% 98% 1 101% 101% 101%% 7104 103% 104 1102 102 102 6 1021 1024 102% 3 91 91 9l 5 1091 100 109 12 R6% R6% R6% 4 103% 108 103% 1 9 90 90 2 8 86 86 8 97T 97% 974 1 82% 824 82y 1 104 104 104 | Boston & Maine6s. 12 98% 984 984 35 110% 110% 110% | Brdway & 7th Av6s 16 41 40 41 44 118 1174 1174 | Brookiyn Elev6%s 5 86% 86 86 .28 9614 95% 954 #54 | Bkiyn UnE16850,. 4 85 8314 83 6 91w 8l 94| pkivn UnElSsata. 2 84 5314 83l 9 106% 106% 106% | put R & Pitts4%s. 18 91% 91% 91 }:1254'4 “& 12: Bush Term con 14 100 98 100 2 97% 97% 9715(CanNat4%s30.... 1 99% 99y 99% 5 100 10014 1001 | Can Nat4use.... 18 94w 94 94 5 ‘a7 971 0714 | Can Nat 4348 8 3 9% 94% 944 o S5 o 5 94 91 94 19 02% 924 924 3 23 100% 100 100% 1 941 9415 94i|CanNor4%s1936.. 5 984 95K 98U 8 102 1024 10214 | Can Nor 63 14115 1144 114% " 10 7i% 74 74w |Can Nor 7s. Tur a1 951, | Can Pac deb 4 15 8BB4 FA% 84N S e ek sy | Cak PRe A 5 984 98 98 3 107¢ 1021 102% | Can Pac 58 44 reta. 4 1021 101 1024 10 .12's 12% 121 |CarClinch &OBs.. 2 101 101 101 9 61 REM S6M 23 100 100 100 1104 104 104 A an ICE gt Sier i 43 90% 99% 99w 13 90% 90% 901 31 99% 994 99 13 102 101% 101% 23 0w 984 Bk 2 's6% 96 96 |Ches&O41%s93A. 9 96is 9% 954 % 100% 100% 100 |CH&E Il gnSs61.. 8 76% 76 764 3 1047 104% 1045 | Chi Gt West 4s 21 65 64 64 13 103 1027 102% s T 8 102 102% 1024 1090w 95% opk 83 88% 88 8% .4 94w 94k 94w Y b 76150 93% 9214 92% b 9T% 9TH 97 rmsp&muusmnn T4l T2% T4 100% 100% 100% 105% 105% 106% 109% 76 95% 89 93% 93% 93% 2 100' 1004 1003 ' 98% S8k 98y ! 103% 103% 103% 99% 99 994 5% RSk siw Sales. Migh. . 3:88. 8 99% 99% 99% 50@ |7ll 109% 6 9514 89% 1 98 % | 0 $258,670,000 in November, an in- % ;enu per share in n weeks of October 1 % | to December 1, receipts totaled $5,062,- m.Yg:.K December 1(;—‘1'1\. !ol; lowing is today's summary of important corporation news prepared by Standard Statistics Co., Inc., New York, for the Associated Press: News Trend. With practically all chain stores now having reported November sales, it is avldent that the leading chains handled a satisfactory volume of business for the month despite the fact that the percentage gain of the first 10 months was not fully maintained. Aggregate sales of 42 chain lyuems amounted crease of 21.78 per cent over yclr ago, whereas the 11 months total of $2,400,698,000 represented a gain of 25.66 per cent. Early estimates of crude oil output for the week ended December 7 indi- cate that a decrease of 8239 barrels to 2,624,478 barrels daily took place. Oll output is holding fairly stable since uction of about 340,000 barrels u-ny from & few months ago. Current output is being held about in line with consumptive requirement of the in- dustry. The Companies. American Rolling Mill grants license to Youngstown Sheet & Tube for use of continuous Rolling Mill patents; this makes the seventh company so licensed. American Telephone & Telegraph October operating income (derived solely from operating activities) off 8.5 per cent; 10 months, 5.6 per cent above year ago. City Machine & Tool declares extra dividend of 40 cents and regular quar- terly of 40 cents. Commercial Credit earned $6,168,976 (before Federal tax, minority interest subsidiary preferred dividend deduc- tions) in 10 months to October 31, vs. $3,812,018 year ago. Consolidated Film Industries earned $3.23 a common share in 11 months to November 30, vs. $2.02 year ago. Equitable Office Building earned $1.59 per share in 7 months to November 30, v3. $1.25 year ago. Firestone Tire & Rubber earned $3.27 per common share (adjusted- to 400 per cent stock dividend) in year ended October 31, vs. $2.93 year ago. Formica Insulation declares an extra dividend of 25 cents and regular quar- terly of 35 cents. Golden State Milk Products acquires Stockton Milk Cfl Ground Gripper Shoe earned 84 Havana Electric Railway, 11 months 561, vs. $4,783,081 year ago. Wall Street Brie I By the Associated Press. ‘The Parmelee Transportation Co., controlling & number of taxicab operat- ing companies in Eastern and Middle Wutem clties is ug)rted to be plan- ning further expansion in 1930. Cur- rent year's earnings are officially esti- mated at practidilly double dividend re- quirements. Sales of Standard cotton cloths dur- ing November were 222,911,000 yards, or 64.6 per cent of production according to the report of the Asaochnor“ of Cotton ‘Textile Merchants of New York. Ship- ments totaled 276,337,000 yards, or 80.1 per cent of production. Production to- taled 354,146,000 yards. Stocks on hand at the end of the month amounted to 431,426,000 yards, an increase of 19 per cent during the month. Unfilled orders on November 30, were 342,232,000 yards, a decrease of 13.5 per cent during the month. Sale of membership in the New York Stock Exchlnn has been arranged at & price of $425,000, an increase of $25,000 over the pre: St IM&S R&G 60 754 6% 15w a i 193 93 93 . T o |cuba R RBs . 4 X3 #3 u3 . .nw 5 Cuba Norbsets 21 75 T4% 75 on e S N |DeraHuaisteras 4 93w 9on 93y o Bow 3% | Dol & Hudsw 5 1084 103% 10314 10 106% 108" 197 | Del & Hud 1886, 5 100% 100% 100% e e b 0 923 91 v2u 3 100% 100% 1004 Aesddesil sy L 3 95% 95% 95k 25 103 103 1084 2 72 12 w2 1102 102 102 E 9 103% 102 102 4 874 874 8TH 5110 108% 108% BN BdN 84N 1 98% 98% 98 8l 814 81%| g Sou Pac clt ¢ Sou Pac ref ¢ Bric: INVESTORS GIVEN ADVICE BY OIL CO. Standard of New Jersey! House Organ Discusses the Stock Market. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, December 10.—When the history of the break in stocks is written in later years and the influ- ences that brought it to a sudden sf P' on November 13 are recorded, it will be pointed out that one of the most ctacular and effective episodes of l ut Berlod was the bid put in the mar- the Rockefeller interests for :ooooon shares of Standard Oil of New Jersey at 50. ‘The turning point dates from the an- nouncement reaching the floor of the Stock Exchange in the early afternoon that the Rockefellers stood ready .to invest $50,000,000 in the shares of their company and that they had put up a barrier against any further slaughter of it either through short selling or through panicky conditions. They were never required to take up stock at their limit, for it opened the next day many points higher and today was selling at approximately 70. Position of Shareholders. interest of the general market in mind on that critical day, but also the posi- also shareholders in the company. by the steady fall in the price of their shares and by the rumors circulated throughout Wall Street and even among the employes themselves at the re- fineries and out in the fleld. Along with many other corporations the Standard Oil Co. of New Jersey agreed to assist their employe shareholders who might be in distress as a result of the market break. However, only 129 of the total of npproximuwly 24,000, or one-half of 1 per cent, -ppnred be- fore the committee to take advantage of the financial assistance offered to hem. Obviously as an effort to clear the minds of their employes of theories that they might have had regarding in- vestments in stoeks, the organ of the Standard Oil Co. of New Jersey, the Lamp, in today's issue has a most sig. nificant and unusual feature under the title of “Investing Versus Stock Gam- bling.” It is apparent that this is ad- dressed to those who are working for the Rockefeller company, among whom are many foreigners whose first use ot capital in the purchase of securities had been under the plan by which they were permitted to subscribe to the shares of their company. This article deals with the differences between legit- imate investment and trading in stocks on margin or making purchases of se- curitles on a scale in excess of the ability of the buyer to take care of them in a crisis. Three K|nl‘ of Trades. The article deals wnh three kinds of trades “indulged in by people who hope to make money in the stock m: ." It characterizes the first as "u- sentially a gamble,” which is bued on at & stock is due to rise and credit with the broker “as far as he can stretch it.” The second is classi- fled as a speculation. It is predicated on information that a stock is worth more than its current price and seems likely to be favored by develop- ments surround; it. stock 1is bought on credit. It is often built up to much larger than the mitial amount t.hmulh the process of "pyumsdlng 3 it, according to the Lamp, t Illuwl usually knpu in close wuch Wlth the market and seldom sees the ter- tificates which he buys and sells.” In the third trade the strict invests' ment operation appears, in which the buyer employs “surplus funds and p.g for his stock or bonds outright.”\ this position he can use the stock as collateral for a loan if he so desires. This is apparently what some of the employe holders of Standard Oil of New Jersey stock did when the shares of their company dropped to 50 and they were advised to average at that figure. NEW DIRECTORS NAMED. TUESDAY, DECEMBER 10, 1929. i | Commodity Notes A ‘The management of the Standard Oll | B Co. of New Jersey had not only the | Bell Tel tion of the 24,000 employes who were | Che: Many of them were deeply disturbed | & FINANCIAL. e Packing House Products. CHICAGO, December 10.—Improved demand and higher prices character- ized wholesale' trade in dressed meaws the past week. Compared with a week ago, beef is 50c to $1 higher, lamb | cuts about $1 higher, veal up $2 and | pork cuts about 50c higher. Nuts. ARDMOR&!I r();ll —u;';lth the ghrh!- mas trade in full swing, pecan dealers and shelleries here are working full shifts in both retail and wholesale de- partments. Prices of nuts are holding steady, with a somewhat larger crop than last year. F. B. KEECH & COMPANY Members of New York Stock Exchange We have prepared a list of securities which we recommend as investments, both from a viewpoint of capital en- hancement and dividend return. We shall be pleased to furnish this circular upon request. . Tee ATLANTA.—The Atlantic Ice & Coal Corporation, which .operates plants a score of cities in the South, has been absorbed by the Southeastern Ice Utili- ties Corporation of Norfolk, Va. The latter company is affiliated with the Niagara-Hudson Power interests, Lumber. NEW ORLEANS.—Twelve million pine seedlings will be transferred to cut-over pine lands for reforestation in the next year. The State nursery :0. ‘Woodworth will furnish 2,000,000 ot | hese. H CORNER 17TH ST., N. W,, WASHINGTON NEW YORK CHICAGO PHILADELPHIA PROVIDENCE BROOKLYN SHORT-TERM SECURITIES. (Reported by J & W. Sellgma Allis:haimers Cp. 58 1997, Alimonainses Op e FARMER & OCHS COMPANY of New York GUARANTEED COLLATERAL TRUST 6% GOLD BONDS Due November 1, 1934 Wester: Wheeling Btel Gorp. 8738 1048. -— Discovery II, the research ship which was recently launched on the Clyde River of Scotland, is to be equipped with the most modern apparatus for sounding and for biological and chemi- | cal_investigation of Antarctic waters. Money to Loan Secured by first deed of trust on re: mumnr interest and comm| Joseph 1. Weller {5 Weih™ TRUSTEED SHARES Secured by deposit with The Equitable Trust Company of New York, Trustee, of 1109, prin- cipal amount of cash and/or Guaranteed Notes at present guaranteed by UNITED STATES FIDELITY AND GUARANTY COMPANY and FIDELITY AND CASUALTY COMPANY OF NEW YORK The IDEAL INVESTMENT for in. .o . .o en "."’m."v',!';,!.",,- ",,,"",,,_'L In addition, each bond is unconditionally guar- lelllv | 'd ‘ln. "I lll|l< ln; t b d b fnds “aia fanas "of " orsanizations anteed by endorsement by Sold in Lots—$100.00 Up Call or Write Standard Collateral Shares Corporation Woodward Building. Met. 3783 I WILL SELL 800 second-trust at s price to net CONSOLIDATED INDEMNITY AND INSURANCE COMPANY Price 100 and interest Descriptive Circular upon request g STEIN BROS. & BOYCE 1410 G St. N.W. Nal 627 Established 1853 Woodward Building WASHINGTON, D. C. Main Office: Baltimore, Md. Munbn: NEW YORK, Baltimore and Wuhluln- Stock Exchanges Associate Murbn: New York Curb Exchange We Buy and Sell ALL® ISSUES - Bank and Insurance Co,'s Beneficial Loan F. H. Smith Co. Investment Trusts S. W. Straus & Co. Mehlman & Co. Dist. 8848 Woodwl{d Bldg. Associated Gas and Electric System Tok 19 12 £8% 884 88 97 ou Pac 4348 rets. 95 95 ?a’-‘é.f.‘:.: u: 52 102% 102 m:“ s: :2" :Z“ u Pac 438 98% 99 NEW YORK, December 10 (Special). DroEtas €o1s) 32 97% 96% 98% Sou Ry ken 4 90 9o |—Utilities Hydro & Rails Shares Cor- U 3 107% 1074 1074 | & i e 108 108 |ooration announce that they have added Founded in 1852 5 84 84 R4 ¥ : 8. 121% 121 | to their of directors the following Tt 105% 105 108% | Term Auso 81, 4 executives: J. M. Kurn, president St. h s.. 1 90% 90% 90% N 5 MISCELLANEOUS. 8 11% 78 | operations, General Railway Signal Co. : Alleghany Cp bs 44 14 1024 102 107 | Hud&Man ret & 9T 9TU 9TH Rochester, N. ¥.; John B. Hull, director i Alleghany 5849 wi. 50 1023 102t 1023 | 111 Cent 43 52, 591 91 91 - National Mahaiwe Bank, Great Bar- Stocks or Bonds in 19307? AmAgriChem 7%s. 1 103'% 10344 103% | (11 Cent 4863......; 1 88% B88% 88% rington, Mass, and J. Lewis Henry, v p Am Chem §%scv 49 s'l msu 105% 106% | 111 Cent 4% s 6 8 99% 99% 994 12 Biddle & Henry, bankers, Philadelphia, z Am Int Cor 5%45 49. 98l 9704 97i| [11-C-C-SL&NOSs 1103 103 103 | nion pa 4 5 91% 91% 91% | Pa. . . . . . Am anGan.l“l }% .m "»;(4“ (4 | Int Rapid Trans ba. 22 65 6e% 6un | gnicn Pactsgt. ... '17 884 88 88 PR LB The forward-looking investor today United States. - It includes properties e eavaies anar|ee oL A T e:: s e e LOCOMOTIVES ORDERED. desires a good return with the oppor- dating back to 1852 and has become Am T&T cv 4348 30 nas 149% 146 149% | Int Rapld Trans7s. 30 92 o2 1105 100% 106%| sepw YORK. December 10 (P —Th tunity later of obtaining stocks or one of the major systems in the coun- 1 103% 104 |Int& G Norad)€ss 19 884 su 884 7 100% 100 100 > e bonds, whichever future developments try, with assets of approximately one 034 104% Baldwin Locomotive Works has re. P! Ty PP! y 1004 1004 | Int RysCA S 72.. 4 704 0% 9% g’bflhl’é-"m’» 2 91% 914k 91%| cefved orders for 10 locomotives for may make more desirable. billion dollars. A (e I IeEn 10400 1100 100 fus ot oo res 2 G e 7 100 various railroads, which, added to the i i AromuraCod%s1d. 16 90 89 %0 Klomeeny, 12 1008 100" 109" o Associated Gas and Electric Company Asmociated Of\ $8... 1 101 101 101 City Ft 8 3 n 0% 9 the total 5o far for the month to 30. $8 Interest Bearing Allotment Certifi- Atl Gulf 68 B! 5 3% Ti% 73 City Term 8 89% 89% 89% — cates, now offered under rights, pro- Bell Tel PabsB.... 4 104% 1041 104y | Lake Shore 10 99 99 99 t ad vide precisel i Bethlehm St pm g3 4 1004 1011 101 t:::‘}':.'nfl;:: ; 5 fw g sy mfr?‘de':‘.?ufi?‘cfiu?é%'f.f“‘“ aoeRTy precisely such an opportunity. Beth Steel rf6s.... 3 3 103% 1034 98 . Both Steel 638 63.. 12 1054 1051 | LONK Inrf 43 49 3 8yl 89K 89y They pay $8 per annum and are Bethiehem Steal 83 31 100 1otw § uw i ot exchangeable after July 1, 1930, for 'n Edison bs. 5 Bush Term Blag 63 5 100% 100% 2106 106 106 Stocks or Convertible Debentures. Cortain-Tabuercts 5 65 65 63 | Louts 1101 100 100 . 2n Ry 18t .9 62 62 62 Com Invest 6s "4 1 95% 964 954 4 91% 91% 914 1 H Steam Power Sta Binghamton, Comcont Maba. 1-:, o g ”s‘gz e Experience—Efficiency—Economy (o Cuban AmSug8s.. 3 994 99% 594 1 8TH 8Th 8T That's what we bring to the management of %100 ° 0% 100 11021 10215 1023 h 1 2108 107% 107% el dpartment houses placed under our charge. We . o b, L 941 3 6% ]7:;% "-}5’“ know where savings can be effected and where ET"""%S' lnurqbgr of customers anld uquesne 4%4n 67.. 15 93% 99 99 1101% 101 101 diture should b d sales of electricity and gas have all ek s 1O e 1 100% 99% 100% expen e made. been increasing regularly. Sales of 15k Ru! 1 07, . . : = . Zen Cable £33 ¢ 2 99% 99% 99% o B sl o Our service pays our clients. appliances by the System to its cus- T : 96 96 96 . More Than a Third of & Century's Experience ;’g’g;asogsmflg 1929 will alone exceed Goodyear b3 9% 9% 91k 91 91 91 Natl. 925 B e — = 5 Lo 1 6 . : Humble Of1 9 100% 100 100 T s S 2100 B F Saul CO- Fifteenth Hydro-Electric Power Station and Dam, - otk 1014 1014 0 1024 1025 1024 Piney Pa. The large growth achieved coupled 103 314 |N Y Cengendihs.. 12 8L 801 501 with the even greater future possibili- 59 99 (NYCendebds..... 6 97% $7i4 977 The A f th i Saces : 92% 99% | N ¥ Cent 48 62 " ot e Associated System is one of the ties make an Associated System secur- 96% qsl, NYCrimay 99% 98% 99% oldest public utility groups in the ity attractive at this time. it (D 5% 106 . 2 imer Taere. a1 3;9 NYCasLashial 2 3 ‘Do 'weu $8 Interest Bearing Allotment Certificates Int Tel&Tel snce 76 130 128 130 | N ¥ G4 St & 4 1ot 100 to% i i H i Kan City P & L 68 314 103% 103'% | NY NH & H3%s'66 1 763, 7 Rights to subscribe at $120 to $8 Interest Bearing Allotment Certificates are now 100% 100% 100% | NY NH & v l I R T aN NN E M SsaE et e e YO R SAV]N’GS being exercised and are being traded in at 5-16 to 1 plus commissions on the Secur- 20 B4 821 R2u | NY NH&Hdeb ew'i 8 % 84 ities Market of the New York Produce Exchange. The securities for which the 4104 1031 103% 92‘; Z‘;" ;;“‘ Allotment Certificates are exchangeable have a current market val f $140 - > "y ertinc 'S Vi cus arket value of over ' 8)R18 117 7 117 : 2 . g 2103 02 103 | NT NE&HGvabes 43 {g;:: :g::: 1o5 Will Mean More to You as compared with the price of $120 for Allotment Certificates under Rights, of 4% 94 4% | N Y Ont W 1at 48 s i il i i g ol b o o ‘EK If Invested in which 8 are required to subscribe to each Certificate. % 8Bl RAY Subscrib 1 'nlofmc tial t follows: Uj b Foriiara 3 e Lo L 66 ubscribers may also pay ou ome in e e sl ol ot serip il FIRST MORTGAGE NOTES “,,,,",s"",, 7 62% 61% 62%, Nor & S gen b 3 59 A hbenl dlscoum of 3 cents for each d-y thn thc subscri mailed or delivered 16 100 160 100 ;orf;lka'l \:'oe‘.;u 8 2 92 Yieldi prior to January 1, 1930, will be allowed on each full paid Certificate. This discount, 12 :33‘. }gg:,: }g% or Pac 3s I, 32“ :; 25 telding which is equivalent to lpproxlmllely 9% ayear, is allowed to lessen the clerical expense 2 2 = 214 t] 3 : 100 '93% 1004 | Nor Pac e D. ." :?:;/: 105 1000 ASSURED PROMPT of handling the subseriptions. 7 108% 100 1030 Ogden&LakeCh és. 3 76% ‘;:v. I"I:: SAFETL 0 e oe Thl: Ssslnt]e‘reu Bé"mlt'%l"mgm:t :: ernficgets 'lwdilll .bec‘nma exdun‘tnble i 11184 1:2% 118% QreShortLiena.. 4 10 either Stocks or Convertible Debentures. Detailed circular on request. 1108 a0 105 fore 15 ‘00 195 1484 IN CONVENIENT DENOMINATIONS = 9 u os . Be Si to Read Our Booklet . . 0 ze 2 1067% 106% 1067% 19 98% . e Sure to Rea ur Boo £10 1ont oo ' ane g5 S : Associated Gas and Electric Securities 2 L4 104 103 04 Nor Ohio Tr&L 5 99% 99% 99% Nor States Pow 68, 2 102 102 | 35 Lo 100 100k Company Nor States Pow 65, 1 105% 105% 1 o 2 104“ tod” s Vi Incorporated ine Gae & E1 b0 10 101w 1014 101 | Philippine RR O T & T 18t bi 3 102% 102 102} t s A 106% 106y, - . PaoT&Thasa... BI04 104 10,0 PCCASWESBI 1 ioo 1081 :ggt 61 Broadway, New York City Pan Amer Pet + B104% 104 104 PortEIPL 9T 9Tw 97y Pan-Amer Pete 11043 104% 104% Readinggen %A H % 91y 9%