Evening Star Newspaper, December 16, 1929, Page 13

FINANCIAL. . BOND LIST SAGS IN QUIET MARKET U. S. Issues Firm—Few Ex- | ceptions Are Noted in Cen- tral Trend. BY F. H. RICHARDSON. By the Associated Press. NEW YORK, December 16.—After a strong opening, bond prices dropped lower today, in a trading session, with the exception of the foreign list, was characterized by dullness. Profit taking ‘was not quite offset by the small amount of buying. Apart from the expected dullness at this season, the market had much in its favor. Money has not tightened to the extent indicated by last week'’s develop- ments, new bond issues are being al sorbed with ease and the offer of $69,- 395,000 of the total of $100,000,000 of ‘Treasury bills at 34 per cent by one house proves the trend of the market. High-grade bonds turned downward with the rest. Southern Pacific 41as, Union Pacific 4s (1968), American Tele- phone 515s, Standard Oil of New York UNITED STATES. (Sales are 1n £1.000.) Sales. High. Lib3%s... 45 9912 Lib1st4%s 68 10031 Lib 4th 4%» 150 10116 US4s1944 16 10726 US4ys62. 5 11126 FOREIGN. Sales. High Argentine 6sJu 69. 4 984 s Oct 69 12 ! 13 99 3 101 1 107 2 1112 Argentine 5% Argentine 6s A. Argentine 6s B. Austraiia 4%5 66. Australia bs 1956, Australia 6s 1967 Austria s Bank of Chile 6% Bank of Chile 6%s.. Belgium 6s. Belgium 7s 1956 Belgium 7% Belgium 8s. Bolivia 7s ot "69 Bolivia Bordeaux Brazil 7s Brazil 8 Bremen 49 3 101 6 10 6 11 Low. Close. 10026 100 31 16 THE EVENING STAR, WASHINGTON, D. C, MONDAY, DECEMBER 16, 1929. Sales. Richfield O “. 7 Sinclair O11 6 8% 5 100 100% Stand Ol N J 48, Stand OII N Y 4% Sug B+ Orfent 7s. *| Tenn Copper 6s 41 Tex Corp ev 63 1944 11 Transcontl O1] 6348 Unfted Drug bs 63 1] S Rub 1st rf bs. 118 Rub 7%s. Utah Pow & Lt 5s. Utilitles Powr 5%s Vertientes Su; War Quinland West Elec bs. Westn Unfon 6s 51. Westn Union 6%s. White Fagle O 6% Wickw Spen 1st « Wick-Spen cv 78. .. Willys-Ov 6%s 33 Wilson & Co 1st RAILROAD. Atchison gen 4 2 93% Atch deb 4 %8 21 181 AtlanticC L 1st 6 93% AtlanticC L 4s. 6 91 High. Received by Private Wire Direct te The Star Office Low. Close. 98% 99% 100% 101% 97 98% 100 100% Low. Close. 894 89% 107% 1073 16 116 121% 121% 106 107 100% 100% 94U 9% 9% 89 87 88 98 98 104% 104% 100 100 90% 90% 101t 101% 100 Tol Tr L&P 6%8 Unton P 12 104% 10 100% 12 91 West Pacific Wis Cent gn Electric Line Extension. BALTIMORE, December 16 (Special). —Permission to extend their gas and electric lines has been given two pub- lic utility companies by the Public Serv- ice Commission. The Cumberland & Allegheny Gas Co. was given permission to extend its gas distribution to the Pennsylvania State line. Construction must be com- pleted within two months. Approval was given the Chestertown Electric Light & Power Co. to extend its electric distribution system into Queen Annes County within a radius of NEW REALTY SECURITIES EXCHANGE IS OPENED Special Dispatch to The Star. NEW YORK, December 16.—Today, with accompanying ceremonies, another in the long list of security markets now operating in New York was opened— the New York Real Estate Securities Exchange. This new mart of finance heaved tradition overboard by locating on Forty-first street, many blocks north half that of a year ago. of the financial district. But, since its business will be entirely in real estate, the uptown address will be more con- venient to those who will have most to do with the exchange. As in the case of other exchanges, the medium of trade, real estate bonds, has been re- duced to a list of symbols and_tickers clgg the exchange's doings to all inter- ested. Unemployment in the Netherlands is only 2.4 per cent, which is less than ! Equitable Co-operative Bldg. Ass'n Organized 1879 JOHN JOY EDSON, President Assets .. ceeee..85,662,549.55 Subscription for the 98th Issue of Stock Being Received 50th YEAR COMPLETED WALTER S. PRATT, Jr., Secretary Surplus & Profits......$1,705130.78 SAVE AS YOU EARN THE 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 FINANCIAL., Money to Loan Secured by first deed of trust on real estate. Prevailing d commission. N eTlor “420 Wash: L. & rast sh. " Joseph I. Weller {20 Wash L& Trou A competent young man in the build- ing construction industry, who values himself at five thousand a year, is ojen for a position. For particulars address | Rex MUH Sur Ofce | | ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. & La. Ave. N.W. 63rd Issue ot Stock Nov. Open for Subscription Shares of Stock, $1.00 Each Payable Monthly ‘James E. Connelly James F. Shea President Secretary Real Estate [nvestments JAMES Y. PENNEBAKER 1520K St. N.W. Nat. 5291 TRUSTEED SHA he IDEAL vestors who YIELD and GRO finds “ana fands "of " ore Call or Write Standard Collateral Shares Corporation Woodward Building. A Paying Investment You'll soon find that our management of your apartment house properties relieves you of tions. Sold in Lots—$100.00 Up Met, 3783 worry—in connection with them—truly a paying investment. More Than a Third of a Century’s Experience B F. Saul Cov nisa 41,3 and Duquesne Light 4125 were all a'shade lower. United States Govern- ment bonds were quiet, with most of the dealings confined to first and fourth 41 Liberty issues at unchanged prices. There were a few exceptions to the Jower trend in the list of second-grade rails, notably Western Maryland 4s, up & point, and Missouri-Pacific 4s, a half point_higher. But the rest were lower. St. Louis-San Francisco 4l2s were down ), point and Seaboard Air Line 6s_were 115 Jower. Fluctuations were wider among specu- lative descriptions, but trading here was quiet. Dodge Bros.' 6s were down a point and the tractions were generally weak. On the other hand, Goodyear 5s, Chile Copper 5s and Anglo-Chilean Nitrate 7s were higher. The apparent support of the German government’s economic program result- ed in some activity in German issues, with the industrials ranging higher ana the government descrptions lower by fractions. German General Electric 6s were i point higher and Unitea Steel Works Glos were up a_point. South Ameriean bonds were unchangec to slightly lower, with the Brazilians generally weak. Belgian, French ana Italian loans were firm. New bonds issued today included about $10,000,000 in public utility ob- ligations, more than $2,000,000 of new municipal finaneing and about $750,000 of insular bonds. In addition, Montreal asked bids on $18,300,000 local improve- ments bonds. Washington Stock Exchange SALES. Potomac Electric 6s 1953—$500 at 107. Capital Traction Co.—5 at 76. g Potomac Electrie 53 % ptd.—9 at 10414, Commercial National Bank—10 at 255, 10 at 255, 10 at 255, 10 at 2535, Federal-American National Bank—8 at 29 Canada 631931, Canada b5 1952, Chile 63°60... 5 Chile 65 °61 Chile 7s 1 Chinese Gov Ry 5a. Colombia 6s Jan '61 Copennagen 418 63 Copenhagen 5s ct. . Cuba 5%s.. Czecho 8s 1951 Czecho 8s 1962 Danish Munie 8s A, Denmark 4%s. Denmark 6%s 65.. Denmark 6. DEI5%s Nov 63. Dutch East 1 6s 47, Dutch East | 6s 62. K.at 7s x war 46 3 miles of the Chester River Bridge. Construction must begin within a year. — B & OGola 4 8 92 B& Ocv 4% rfbs 652000 D..ue .11 102% a1y about our systematic plan. 915 F St. NW. NEW YORK BANK STOCKS. Special Dispatch to The Star. NEW YORK, December 16.— Bid. Asked. 3 Tide Natl. 2100 B & O Toledo ¢ s Bang & Aroos Boston & Maine bs. Brooklyn Elev 6148 Bklyn Manha Bklyn Un EI BKlyn Un El 5 sta. Bush Term con b Can Nat 414530, Can Nat 4%s b4.. Can Nat 4%867.... Can Nat 415 68. Canada Natl 5s. ... Can Nor 4%31935.. Can Nor 6%s. Service Management Cnat_ Phenix. Chelsea EX €x ris BIty ot Columbus Complete Investment and Brokerage Service Copy of eur “Fortmightly Review”™ furnished ow request G. M.-P. MURPHY & CoO. 08 : Members New York Stock Exchange Sewara” " s Shith ave P 1510 H Street Connecticut at K Straus Natl.... 280 ar WASHINGTON Telephone National 9600 New York Philadelphia Richmond Private Wires and Telephones to New York Look Forward Today Frencb 7%s. German Bank 63 "3 38 85% German 7s. 18 106% 1 100% 46 83 3 9% 10 101 2 97 51 95% 5 92% 13 94% Can Pac 4%s 46. Can Pac bs 44 rcts. Canada Sou 5s Car Clinch & O bs.. Car Clin&Ohlo 68 62 Cent of Ga 55C 69.. Cent Pac 15t 65 90. Melrose Merchants Midtown Penn Exch IN financing your home you should consider the future as much as the present. Japanese 4s. Japanese 6. 22 102% Karstadt 6s1043... 45 7% Kreuger&To'l 6sct. 48 93% Lyoas 6s. 22 102% Wash World Exch. Yorkville .. o : TRUST COMPANIES. E Banca_Cfmm Ital xd. cily . London Let us explain the numerous aavantages of the Metropolitan Life Insurance Company Real Estate Loan Plan. Chi&E Ill gn Chi Gt West 4s 5! Chi Ind&L ref s CM & St P Gen 89. Chi M&StP 4 %48 B. . Chi MiISP&Pac5a76 50 93 CMSP&Pac adj5s03 117 74% 7 Chi&NW 4%s 1987. 1378104 Chicago N W 4%s.. 15 100% 2 884 953 Guaranty Interstate Int Germanic Int Germanic Lid. Irving n. Law Titi Municipal “units New York.. NY Consult W AVER BR REALTORS 809 I5th St. N.W. District 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company Orlent dev 6%s 6 Paris Orleans 5%s Paris-Ly-Med 6s Paris-Ly-Med 7s.. Peru §s 1960. Peru 6s 1961. Peruls Poland . Poland 7s (rets)... Poland 8s.. Porto Alegre Queensland 6: o Queensiand 7s.... Rhinelbe On 7s.... RhineWst EP 7s 50 R10 de Janerio 6% 8 Rio de Jan 85 194 Rio Gr do Sul 6s 43. Rio Gr Do Sul 8s. Rome 6%s. Sao Paulo 83 1936.. Sao Paulo 1950 Saxon (PW) 7 290. Commercial National Co. pfd.—20 at 101%. Preposterous Propitiations SECURE blessings for his family or his tribe, prehis- toric man offered sacrifices to appease the gods. The greater the sacrifice, the greater the propitiation —the ultimate propitiation therefore was found in the preposterous and hor- rible custom of human sacrifice. AFTER CALL. Potomac Electric 5% % pfd.—2at 10412, 1 at 104%. Mergenthaler Linotype—10 at 107, 10 at 107. Capital Traction 55—$2,000 at 92, $500 at 92, $500 at 92. Anacostia & Potomac R. R. guar. 55— $1,000 at 92. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Times Suua Title Guaranty... . Trust Co of North Amer. United States. CCC& St L 58 Clev Term Food prices in Belgium are rapidly increasing. o R s, Cuba R R 651936 f Del & Hud 5%s. Den & R1o G cn 4i D Rio G West ... DRG & Wst 68 78 Det United 4% o B mEARM ORNSXANK A BNICAL Amer. Tel. & Telga. 435 '33... Amer, Tel, & Telga. 41as '38... Am. Tel. & Tel. ctl. tr. 5s. Anacostia d& Pot. R. R. 58 Anacostia & Pot. guar. 5s... C. & P. Tel. of Va. 55 Capiwal Traction B R. City & Suburban 3, Georgetown Gas 1 Sacrifice as a means to virtue or achieve- ment is now condemned as unnecessary waste. Knowledge is the protection on which modern man depends. The wealth so recently sacrificed upon the altar of frantic speculation might have been saved if only the knowledge of sound principles of investment had prevailed. Knowledge of the fact that the First Mortgage Notes issued by Swartzell, Rheem & Hensey Company had come through sixty years of the ups and downs of modern business, withcut -a single instance of loss to an investor, might have saved many fortunes now irrevocably lost. And these notes are available in amounts as low as $100. An investment made to- day will protect you better than any pro- pitiation of the gods. SWARTZELL, RHEEM & HENSEY CO. MORTGAGE BANKERS 727 15 STREET N.w./ WASHINGTON D.C. 85% 80% 9614 110% 64 104% 110 96% 96% 1051 110% 25 12 994 4 94% 1 94% 6 1% 6 88l 13 101% 3 31 104% Wash"Eey' o 18 10214 o s 100" MISCELLANEOUS. 1 98% B bt Hotel 6 4 89% S S 8% 34 97 10 R4% 4 Fla East C 68 74.... 20 Gr Trunk st db FIRST MORTGAGE NOTES —in convenient denomina- tions, secured by carefully selected, conservatively appraised residental and business properties in the District of Columbia and nearby Maryland. We offer the facilities of a competent organiza- tion eager to counsel you in the profitable placing of your invéstment funds. - H. L. Rust Company 1001 15th Street N. W. National 8100 Eetablished 1889 All Was Well With His Oil Well Gt Nor 448 E. Gt Nor bs. .5 Green B & W deb B. 19 Hav El Ry 6%s 51 Hud & Man a) Hud&Man ref §: 111 Cent 43 63 I Cent 4% s . Il Cent rf 58 65.... 11l Cent Chi4%s... 6 I1-C-C-StL&NO bs 11 Int Rapid Trans 6s. 79 :n! Rap Tr 68 stpa Utd Kingm 5%s 37 Uruguay 6s 19 Vienna 61 ‘62 Warsaw 78 '5. 2 77 Yokohama 6s...... 18 96 MISCELLANEOUS. Abram&Stiwus 6%s 16 1021 100% Ajax-Rubber 8s.... 2 60 Alleghany Cp 6344 64 100% Alleghany 65 49 wi. 48 100% Am Beet Sug 6335, 4 794 Am Chain 6s'33. 1 96% Am Int Cor 6%s 49. 1178 95% Am Chem 6%scv4d 4 104 Am NatGas 6%s43. 2 7% AmSmit& R 1stbs 29 1004 Am Sugar Ref 6s... =3 104 Am T&T cv 4%8 39 335 141 3 10315 104 107 100 90% 845, 102 7 95% HORON SNRSN me OB 72 lowa Cent 1st 58 Kansas City 8 Kan City Term 4 Lake Shore es31... iVgen 4143 2003 Lenigh Valley 58 20 L & N 4%s2003. Louls & Nash 7s. Man Ry 1st 45 9 MIlEIRy & L Minn & StL ref Minn & StLcn § M Stp & SSM cn bs.. MStP&SSMbs3sgtd. © MK&Toprinbsa.. MK &T adj 6 Mo Pacific gen itbelongedto somebody else! National Capital Columbia ... Commerciai National ‘Bank . Fancy yourself in the shoes of a certain man of Oklahoma when two wells which had been drilled on his farm began to gush oil at the rate of a half million dollars a year. TRUST COMPANY. American, Securtty & Trust Co. 430 Continental T: . 133y Merchants' Bank... National Savings & st , & Trusi SAVINGS BANK. Bank of Bethesd Commerce & Associated Of1 AtlGulf 55 69. Beth Steel rf 6s.... Beth Steel 6%s 53 Bethlehem Steel 63 Bush Term Bldg §: You would say, no doubt, that our friend was in luck. But wait!...". One dai the sheriff served notice of a legal action contesting his title to the wells. In 1922, he had purchased the farm at Sheriff’s sale; foreclosure was brought against a widow who inherited the land from her husband, under the condition that she remain a widow,—otherwise the farm became the property of the children. The children, who were not parties to the foreclosure, sued. The court held that, as the mother’s widow- hood terminated by death, she had only a life estate. So our friend lost the half million dollars a year. . 995, Mo Pac 6%s 49 evt. 57 wst Mob & O gn 4s 38 3 92 Mont Term ref 55 Nash Chat&StL ¢s. sau £ 48 61, ‘Washington FIRE INSURANCE. American ... Corcoran Firemen's .. National Union F TITLE INSURANCE. Columbia Title.... . Real Estate . Title & Consumers Pow bs.. Cuba Canecv 7 Det £dison Det Edison 6 Cen gen 3348. ., Cen deb ¢s First Mortgage Real Estate Notes Paying Six Per Cent Inv. of A om. . MISCELLANEOUS. Barber & Ross. Inc, com Chevy Chase Dairy pfc. Col. 8and & Gravel pid Commercial Natl ~Co. fd. D. C. Paper Mfg pifd. Dist. Natl. Securities pfd. Federal Storage pid Federal-American Co. Federal-Amer. pfd Lanston Monotype Merchants’ Trans. Merchants' Trans. & Mergenthaler Linotype. .. aul Mige & Tov. pid- Peoples Drug Stores pfd Real Est. Mtge. & Guar. pfd. Security SOI&Ke ... ..... “Ter. Ref Corp. Gen Cable 6%8 47. Gen Mot Ac Cor Goodrich 6%s. &StLE%sA. Goodyear s rets. 2 9. StLésA. Humble O11 Bs. . Humble O & R §%: St j00 103 | Inland Stl 4%: g 4 | Intl Cement 6s48. Intl Match 6 47 Int Mer Mar Inter Paper 6s..... Int Tel&Teleg 4% int Tel&Tel 445 cv KanG & E6s63... Kendall5%s 48 war. 6 2 An attorney passed the title, but his interpreta- tion of the law was incorrect. He should have protected his agi:u'on by requiring title insurance. CAPITOL TITLE AND GUARANTEE ComPANY 1425 Eye Street N.W., Washington 1. & Whr. NYState Ry 6 NY Sus&Wn 6 NYW&B4® Nor & S gen bs Norfolk & W en Nor Pac 38 2047.... Nor Pac 4s. Nor Pac s D. Nor Pac rf ¢s. Ore Wash 1st ¢ Are Obtainable Through the Office of Shannon @ LUC})S.. Inc. 1435 K Street N.W. Baltimore Real Estate Title Company Keyser Building Representing NEW YORK TITLE AND MORTGAGE CoOMPANY Capital Funds over 60 million dollars The Largest Title Guaranty Fund in the United States 3% extra Books clozed. . Giraffes Halt Telegraph. Giraffes have been causing frequent interruptions to telegraph service in Africa, according to a big game hunter Who has just returned from there. The animals are so tall that they break down even the high wires as they travel. ©One specimen shot was 19 feet tall. Loew's Lorltllard 6% Lorillard (P) o= PoeBla a—-nBean— Steel Montana Pw deb Mor's&Co 1st ¢ %s. Nat Dairy 6%s. Nat Radiator 6 In Denominations of $100 Up oreres 1] 8 T N e Lt I LN L L T S o & Movie Musicians Rehired. That 100 musicians recently ousted by the talkies have been reinstated by London theaters is the latest report of the Musicians’ Union of England. The union expects that more London musi- cians will soon go back to work and that the movement for reinstatement of orchestras will spread over England. New Reducing Cure in Paris. A new “nature” cure establishment in Paris has a new reducing idea. It per- mits its patients to have nothing except oranges. They are allowed six a day, one orange being doled out every two hours. Patients claim that they lost 10 or 11 pounds the first week, the next week only 2, and less and less in the sucgeeding weeks, A The character of this form of Investment is of the same caliber as has typified our institution right here in Washington with you since Peoria & E inc 4 Reading gen 4%s A RIATKk & L ¢%s Rio G W 1st BaSn- n SBAlIFaésss A, Sou Pag clt 4 Sou Pac ¢%s reti SouPacehsdww 7 RemingtonAr s 96 Rem Rnd %3 war.. 93%