Evening Star Newspaper, December 31, 1929, Page 12

FINANCIAL. ADVANCE IN BOND PRICES RESUMED High-Grade Group Leads in| Upward Trend—Convert- ibles Improve. BY F. H. RICHARDSON. Epecial Dispatch to The Star. NEW YORK, December 31.—Bonds made definite headway toward higher Jevels today with relief from the heavy tax selling which has depressed markets for the past two weeks. There were a number of cash sales today for the purpose of converting paper losses into income tax exemp- tions, but they hardly affected ordinary transactions except in the case of some of the weaker traction bonds, which continued to sag. The turn o( the year, should see sub- stantial recoveries on the part of a number of weaker industrial issues, and German and South American ae- scriptions in the foreign list. Trading was ment buyers not being ready yet to go into the market,tax sellers having con- cluded their operations, and dealers not caring to take on obligations at pre- ‘vailing money rates when the first week of 1930 is almost sure to see easler money conditions. High-grade bonds were fractionally higher, including Atchison General 4s, Ohio first 5s, St. Louis- 4s, Union Pacific first 4s, Nickel Plate 4s, St. Paul 5s, Standard Oil of New York 415 2s and Standard of New Jersey 5s. Convertibles were hlgh!l' American ‘Telephone 412s and International Tele- phone 4145 both improving over 3 points. New Haven 6s were also 3 peints higher. Higher gflcu were general through the second grade rail list, Chicago & Great Western 4s and Boston & Maine 55 both gaining a point. Industrials, oils and sugars also improved. Pathe 7s were up 3 points and International Paper 5s up nearly 5. In the tractions Brooklyn-] hattan Transit 6s and New York Railways 6s were higher, Iwhile New York State Railways 4%s dropped 3 points. Third Avenue Rail- | way issues and Interborough Refunding 55 were weak ll-lo 'RAY BARBUTI "MARRIED SECRETLY SINCE MARCH Even Close Friends of American Olympic Star Were Kept in Ignorance of Wedding. By the Assoclated Press. NEW YORK, December 31-—Ray Barbuti, Olymple 400-meter running champion, Miss Marian Sylvia Hicks, sister ol Helen Hicks, star golfer, have been married for more than nine months without the knowledge even of close friends. ‘The information came out yesterday when the Olympic hero revealed that mw hi .hp‘in G § 2e‘(:k“ '.h: churel reat Neck an that he and Mrs. Barbuti now are re- UNITED STATES. (Bales are in $1.000.) Sales. High. Low. Close. 43 9916 9912 9916 le ll . 910110 1016 1016 Lib4th 4%.. 212 10113 10110 10110 US3%s 43 2 9920 9914 9914 US3%s 47 70 9919 9914 9914 USds1944 1 10710 10710 10710 USsy 52 10 1116 1116 1116 FOREIGN. Sales. High. Argentine 6sJu59. 3 95 9 Argentine 6sOct 59 1 Argentine May 61 Argentine 515 62 Argentine 6s A. Argentine 65 B. Australia 4% s 56. Australia 55 1955 Australia 58 1957 Austria 7s... Bank of Chile 6% Belgium 6s. Belgium 6338 Belgium 7s 1955. Belgium 75 1956. Belgium 7% Belgium 8; Bolivia 7s ct 6! Bolivi Bordeaux 6s. Brazil 61351926 Brazil 6345 1927 Brazil 8s. Bremen State 7s. Canada 5s 1931, Canada 5s 1952. Chile 6s 60. Chile 6s 61. Chile 75 1943 Colombia 6s Ja Con Pow Japan 7s. Copenhagen 43 53. Copenhagen 5sct.. Cuba 5%s. . Czecho 85 1951. Czecho 8s 1952 Danish Munic Denmark 4% Denmark 518 Denmark 6s. . Dutch East T 65 62. El Salvador 8s 48.. Finland s f 6s 45 Finland French 7s. French T4%s German Bank 6s German E1P 6%s . German 7s. . Greek 631963, Haiti 6s. Hungary 7‘il Irish Free State 5s. 15 2 16 2 8 5 8 11 6 11 9 38 57 13 3 7 99 8 28 26 10 2 » 32 wEBanmA oo o Itallan Pub S 7s Japanese 4s. Japanese 6% s . Karstadt 6s1943. ... Kréuger&To'l bs ct. Lyons 6s. .. Marseille 6s....... Mexico 4s 10 asnt. . Milan 6%s Netherlands 6s 72.. Norway 5s 1963. Norway 5%s. Norway 6s1943. Norway 65 1944. Norway 6%s 1952 ;| Prague 7% track at Syracuse University and won America’s only flat race victory at Am- sterdam, now is in the insurance busi- ness in New York. Washington Stock Exchange SALES. Potomac Electric Cons. 55—$3,000 at 100. Gas 6s A—$100 at 100%, ‘Washington $200 at 100%. ‘Washington Rwy. & Elec. 45—$500 at 83. & Ross 61:5—$2,000 at 88% Capital Traction Co.—20 at 75, lfl at 175, 5 at 75. Electric 5% % pfd—10 at 105, 1 at 104%%. ational Savings & Trust Co.—10 at 520. thaler Linotype—5 at 10612, 20 at 106%. Nt AFTER CALL. m: 5%, % pfd.—2 at 1043, W“Mn lwy. & Elec. 45—$1,000 at Anmr.h & Potomac guar. 55—$2,000 at 90%. UNLISTED DEPT. Park Savings Bank—10 at 78} é NOTICE—This _exchange closed tomorrow—New Year dlv Bid and Asked Prices. be Amer. Tel. & Telga. 4 ‘Amer. Tel. & Tel Am. Tel. & el Hl 5. Anacostia & Po 101 101% & Pctomac Elec. 6’ pfirfi.luc Elec. sia% ptd Wi Wash Baito. & ‘Annap. ofd. NATIONAL BANK. National Capital. Columbia ond National TRUST COMPANY. American Security & Trust Co BAVINGS BANK. Bank of Bethesda.. American cora Queensland 7s. Rhine Wst EP 6552 4 Rio de Janeiro 6%s Rio de Jan 85 1946. Rio Gr do Sul 6s 48. Rome 6%s. . Selne 78 42.... Serbs Cr Slov 7s. .. Serbs Crot Slo 8s. Soissons 6s. Sweden 538 Swiss 5345 1946. Swiss Confed §; Toho El Pow 7 Tokio 5s. . ... Tokio 5%s 196 Unt S S Copen Uruguay 6s 1960 Vienna 6s 52 ‘Warsaw 70 70 Yokohama 6s. 96% 96 MISCELLANEOUS. Abrlmutnulfi%l 1 100 00 83% 83 Am Int Cor 538 AmChem 53scv 49 21 102% Am NatGas6%s42 20 71% Am Smit& R 1st5s 20 101 ‘Am Sugar Ret 16 103% Am T&T cv 435 39 496 142% AmT&Tcltrbs.. 54 103 AmT&Tst6s 14 108% Am Tel & Tel 5 17 107 . | Am Water Wks Am Wrtg Pap 68 Armour&Co 4%s 39 lfi B!‘b Atlantic Refin 5s... 10 100% Bell Tel Pa 58 B 6 106% Bell Tel Pa 55 C 1 105% Bethlehm Stl pm 5s 12 101% Beth Steel r£5s.... 3 102 Bet Steel 5%s853... 2 107 Bethlehem Steel 65.136 105 Certn-Td 5% s rets. Chile Copper 5s. Colon Oil 6s 38 Col G&EI 58 May 52 12 100% Com Invest 5%8 49. Com Invest 65°48. . Con Coal Md 5s. ConGasN Y 5%s.. Consumers Pow 5s. Cuban Am Sugar 8s Det Edison 55 40. Det Edison 6s Dodge 6s. ... Donner Steel 7s. ... Duquesne 4145 67.. East Cuba Sug 7%s Fisk Rub 8s. . Gen Cable 5155 47 Gen Mot Ac Cor 6 Goodrich 6%s . Goodyear 55 ret Humble O & R 5: Humble O &R § 111 Bell Tel s 111 Steel 4145 4 Tnland Stl 4%s 7 Int] Cement bs 48 Intl Match 5s 47 Int Mer Mar 68 Int Paper 5s 4 Inter Paper 6s Int Tel & Tel 4 Int Tel&Tel 48 ¢ Kan City P & Lt bs. Kan G & Eés 52 . 13 103% 98Y% 93% 9114 97% Laclede 5s. | Kan City S 3s. Direct to The Star Ofice Phila & Read 6: Phillips Petro Por Ric Am Tob 2 Postal Tel & C5%s H. MK Pub Ser 43 Punta Alegre Rem Rnd 53 war. . Stand OIl N Y 4%4s. 10 Tenn ElecPowss 47 15 Tex Corp cv 581944126 Transcontl Oil 6%s 20 United Drug 58 63.. 46 U S Rub 1st rf U S Rub 7%s. Vertientes Su; Walworth 6s 45 Warner Sug 7s Warner Sug Western Elec 6i ‘Westn Union b Wickw Spen 1st. White Eagle O § Willys-Ov 6358 33 Youngstn S & T 5i nAlLloAD. At & Bir 4s 33. Y 2i At1 & Dan 18t 48 43. Atl&Dan2d4s48.. 7 Atlantic C L 1s Can Pac 5s 44 rets. , Cent of Ga 55 C69.. Ches & O Corpn b Ches& Ocv 4% Ches & O gen 0%'. . CheS & O 4%s93 A. Chicago & Alton CB & Q1st rt'6: CB&QII3%s CBB&Q Il dlv4s. Chi&E 111 gn 58 51.. Chi Gt West 48 59. . Chi MilSP&Pac CMSP&Pac ldJElnl Chi & NW gen 4s... Chi&NW conv 4¥s. Chi&NW7Ts ChiRI&PTrf ChiRI&P4% - o e - - 193 >4~uhun~—ungwnu-—onu raBRanaie forore Den & Rio G en DRG & Wst DRG& Wst5s 7! Erie Gen 4s. . irie conv 4s D. Erle cv 55 67. Fla EastCbs 74. Gr Trunk st db Grand Trunk 7s GtNor4%sE. Boo Sun weabSSesan we » Hud & Man aj §s... Hud & Man ref bs. . Hocking Val 4%s. I11 Cent ref 4s. 8802 w58 Blawnne Int & G Nor adj Int Rys C A bi Kansas City 8 5s. Kan City Ft 8 ds. - LehiVgen 43 2003. Man Ry 2d 45 2013. Mill El Ry&Lt 4% Mil El Ry & L 68 61 Minn & StL ref 4s. Mo Pacific gen Mo Pac s F 11 @ DA HEOANNA NN NG NARTRE S ADDN - ST N Chat& llL s, u El 48 51. [ NY NH&Hart clt 6s 5 NERYS.....000%. 28 NY State Ry 4%s.. 36 NY StateRy 6%s862 1 NYW&B4Ys.... 13 Nor & 8 gen 68 54 Norfolk & ¥ cn 4 Nor Pac 3r 2027 Nor Pac 4s. Nor Pac 4148 2027. . NorPacssD.. Penna con 4%, Penna gen 414s. Penna 4% 63, Peo E 18t 45, Pere Marq 1st 5s. Port RL & P 55 42. RIArk&L4%s StL IM&S gn 65 3 SIL&SFPpl4sA.. StL&SF 4% e Seab A L 48 94 180 B6% 5% 9% 99% THE EVENING STAR, WASHINGTON, (o mov vox BONDS o mcasca] |INVESTMENT TRUST . Low. Close. 93 Ny 20 94 180 56% 92% 95% 96% 108% 101% 9% 94 821 100% 651% 102% MERGERS LIKELY Combinations of Trading Companies Are Forecast in Near Future. BY CHARLES F. SPEARE. Bpecial Dispatch to The Star. NEW YORK, December 31.—The re- cent discontinuance of dividends on the common stocks and capital stocks of several important American and Cana- dian investment trusts and trading cor- porations emphasizes the reliance which this type of finance concern has been on profits taken from sales of securities to meet its disbursements to Junior shareholders. When the stock market was rising and the finance companies were realiz- mfl,mx a substantial income on the shares lol‘t 102‘6 100 101 100% 84% fil companies hold in their portfolios, they were able to be extemély generous to their stockholders. A study of their income accounts at that time indicated that there was a higher percentage of return on profits on securities than from dividends or interest on stocks and bonds owned. Frequently the one item was several times greater than the other. In some cases direct income, or that 93y; | from dividends and interest received, 129% 93% DE% a.u sufficlent to cover, with a substan- margin, the interest on its own|in the borrowings, in the form of debenture bonds or bank loans and to meet the dividends on preferred stocks. Margin for Dividends. It did not, however, leave a great deal of margin for dividends on Junior securities which bulked high in the total capitalization of the companies. It has always been considered a weak feature in the stock situation of the trad corporations that they were so dependent on profits taken in securities in order to maintain the prices of their shares and to pay dividends on them. Now that they have encountered an era of liquidation and deflation of stocks, numbers of them are faced not only with lack of opRol’tunlly to realize profits from which dividends may be paid on junior shares, but their port- folios frequently show a value below cost. This has been a factor in revers- ing their dividend policy and forcing them to build up their cash reserves at the expense of their common stock holders. Relatively few of the finance com- panies accepted the theory of a widely diversified investment list. A majority beru'ht exclusively of American com- mon Some specialized in the ks. atockl of one industry, as public utili-| ¢ ties, olls, rails, aviation shares, banks and trust company stocks or manufac- 1 | turing company issues. Their manage- ments were not familiar with foreign conditions, so they did not invest either in foreign bonds or in foreign stocks. They did not believe in bonds, either American or foreign. Localizing their investments, therefore, they are in an > unfavorable position now with port- folios filled with American common stocks on which the average rate of return at the cost price is low. Mergers Expected. On the other hand, the older and more shrewdly managed trusts spread their capital over a wide investment area, which now gives them a steady income, an income that is high in re- lation to the cost of capital, in the form B | of debenture bonds o preferred stocks. ] are expected to 1930. ‘They. t00, have a large amount of high cost and low return common stock their investments. Against this liberal percentage of income-yield- ing securities avallable to pay all of their fixed charges and contingent lia- bilities and allow a little margin for their junior shares in case they feel disposed to continue dividend payments on them. Out of the situation which faces the strictly trading or finance company in- volved exclusively in common stocks that either show a depreciation in the cost price or yield too little on the aver- age to insure payments on common or capital stocks a series of consolidations 'Izh s r companies with a diversi- fled investment will probably de- velop. This is one of the situations that become active early in SHORT-TERM SECURITIES. (Reported by J. & W. Eelisman & Co, J,, Allis-Chalmers 85 1 ‘ Aluminum Co. of A D. . O BUSINESS 1S QUIET AT D. C. MARKET Poultry Displays Attractive. Marine Products Plentiful and in Good Demand. Business in the wholesale district this morning was not entirely satisfactory for the eve of the New Year, lacking the snap that is expected at this sea- son. There was a fairly good sprinkling of buyers out early in the morning, however, looking for sta) Fle and fancy goods for the day’s retail trade. Poultry dealers had attractive sup- plies of turkeys, chickens, ducks, geese and keats to offer the retail trade and also heavy receipts of rabbits from nearby and distant places. Many of the rabbits came from Missouri and Tennessee, the former, according to deslcrs, being much better than the Turkey Receipts Larger. ‘Turkey receipts ~were larger than dealers had expected, it was stated, but the demand for them was nothing like as great as the Christmas demand. Re- ceipts were especially good, dealers re- ported, and retailers offered top quality stock at 50 cents. Meat displays this morning also were exceptionally attractive, retail displays larger markets attracting un- usual attention. Roasts of beetf, veal and lamb were in greater demand, deal- ers stated, than was the poultry. There wvere plentiful supplies of but- tue and eggs, although fresh eggs were only in moderate receipt. Prices con- tinued the same as prices quoted yes- terday, but dealers expect lower prices will prevail in the egg market before the close of the week's market. A fairly good demand for marine products was reported this morning, oysters being in especially good demand. Opysters were not particularly plentiful, dealers reported, but supplies were heavy enough to meet demands. Fruit and vegetable supplies in the commission house district and on the farmers’ line were attractive, supplies being fairly heavy, with oply a normal demand. Grapes, California persim- mons, citrus fruits and pineapples were among the fruits in demand. Dealers also had plentiful supplies of apples from various sections, prices depending entirely upon size and condition or the fruit. Increased recelpts of tomatoes at- tracted attention of buyers and were in good demand. Repacks, ripe and attractive, were quoted at a wide range of prices, mostly around $2 and $3 or good stock. Hot house tomatoes were not so plentiful this morning. They sold at prices ranging from $1.25 to $2 a_basket, retailers selling them around 35 cents a pound. “This tomato,” remarked a retailer, displaying one of the hot house variety, “weighs 1% pounds and is priced at 43 cents, “Not much in demand at that price,” he added. “People object to paying so much for one tomato.” Greens were plentiful both on the farmers’ line and in the commission house district, coming from both far and near, and dealers also had plenu- ful supplies of string beans, iettuce, celery, turnips, parsnips and other vegetables, Cider from the Shenandoah Valley of Virginia was offered in large quantities on the farmers’ line this morning, and was in demand at 50 cents a gallon; be- ing wanted for watch-night Prices this morning were l'epomd ;bouc the same as prices quoted yester- ay. Today's Wholesale Prices—Jobbers’ Prices Slightly Higher. Butter—One-pound prints, 4114a42%; tub, 40%a41',; store-packed, 30a32. ggs—Hennery, 54a56; fresh selected, 53a54; current receipts, 48a50. Poultry, alive—Turkeys, young, 32a35; old toms, 27a28; Spring chickens, large, 28a30; medium, 28a30; broilers, 30a32; fowls, 27a28; Leghorns, 20a23; roosters, 20; ducks, 15a18. Dressed: Turkeys, , 40a42; old, 35a36; Spring chick- 4a35; medium, 34a35: broil- ers, 38a40; fowls, 33a34; Leghorns, 26a 27; ducks, 28a30; roosters, 23a25; capons, 35a40; keats, 50a60. s a28: Meats—Beef, 20a22; veal, lamb, 26a28; porl wm:. 24a26; fresh hams, 25; fresh shoulders, 23; bacon, 25a26; smoked hams, 25; smoked shoul- ders, 20; lard, in bulk, 12%; in pack- ages, 13%. Tive stock—Calves, 15; lambs, 13al4. Fruit and Vegetable Review. ‘The daily market report on fruits and vegetables (compiled by the Market News Service, Bureau of Agricultural Economics) say: les to jobbers ex- cept where otherwise noted. ‘Apple—Supplies moderate; demand moderate, market steady; barrels, no sales. reported; boxes, ~Washing medium to large size extra fancy Spit- zenburgs, 3.50a3.7 Staymans and Romes, mostly 3. some very large size, 2,6582.75; bushel baskets, Virginia, United State No. 1, 21, inches up, Grimes, 2.00; Yorks, 1.50a1.65. Cabbage—Supplies moderate; demand light, market slightly stronger; New York, 100-pound sacks, Danish type, 2.15a2.25; 90-pound sacks, Danish type, 1.90a2.00; South Caroli 115 -bushel hampers, pointed type, 1.90a: : higher. Celery—Supplies moderate; demand moderate, market about steady; Call- *Allvmnsmms B ol Rl-:ctlvEn HERE Herbert’s Pharmacy—10th & Va. Ave. S.W. Is a Star Branch Office A The that Classified Advertisement in Star will find some one for position you want to fill; or find you the work which you are seeking, more surely than in any other way. Just leave the copy for The TUESDAY, DECEMBER 31, 1929. ‘washed CMIBW % mlu. , full ‘crates, 5.00 umm suppli light; demand l.Ilht market steady; California and Arizona, crates, ly around Eastern, demnml light, ‘market lu'h'.ly weaker; Florida, 114-bushel hl.mpen Big Bocwn type, fair quality, ,oon Onions—Supplies moderate; demand light, market steady; Ohio, ltm-pound sacks, Yellows, United States No. 1, medium to large size, mostly 2.00; Colo- rado 50-pound sacks Valencia type, size, 1.90a2.00. tatoes—Supplies moderate; demand moderate market firm; Maine, 150~ pound sacks, Green Mountains, United sum, No. 1, 4.60a4.75; Pennsylvania, pound sack Round Whites, United Sllt&!. No. 1, 3.75. Sweet - utoes—sunplies llxht' de- mand light, market steady; South Caro- lina, bushel hampers, Porto mcum. No. 1. 1.25; Eastern Shore M.lrvhnd. bushel hampers, Yellows, No. 1, 1. String beans—Supplies moderate; de- mand light, market slightly weaker; Florida, bu#hel hampers green string- less, 2.50a3.00; poor qutmy and condi- tion low as 1.00; % -bushel hampers green, fair flulllty 1.5022.00. e Cucumbers—No supplles on the mar- Tnmntoes—suppueu light; demand n.m market firm; Ohio, 8-pound bas- kets hothouse, medium size, 2.50; large size, 2.00; small size, 1.50; replckcd threes, ripes and wrapped, fancy count, 3.50a3.75; choice count, 3.00a3.25. Bplnuch—fiuppll!l moderate; demand light, market dull; Texas, bushel bas- kets Savoy type, 1.35a1.50. Caulifiower—Supplies moderate; de- mand light, market slightly weaker; California, pony crates, 2.00a2.25. Peppers — Supplies light; demand light, market slightly weaker; Floxida, pepspzl‘:' crates fancy, 4.00a4.50, few high as 5. Peas — Supplies moderate; demand light, market weak; Mexico, 45-pound crates, 4.00a4.25, few 4.50. Carrots—Supplies moderate; demand light, market steady: Texas, Western lettuce crates, bunched, long, 3.00a3.25; stubby, 2.50a3.00. Strawberries—Supplies light; demand light, market steady; orida, _pony refrigerators Missionaries, mostly 50 per quart, few higher, Oranges—Supplies moderate; demand moderate, market about auldy; Flor- ida, boxes No. 1, medium size, 4.00a4.50; No. 2, medium alu, 3.7584.25. Grapefruit—Supplies light; light, market steady; Florida, 1, medium size, 4.0024.50; 3.5024.00. DISCOUNT RATE REDUCED. BRUSSELS, December 31 (#).—The discount rate of the Bel!hn National Bank was reduced from 4 per cent to 3Y2 per cent, be!‘lnnln' GERMAN BONDs AND STOCKS. NEW YORK December 31 (Special) — Ger Gt Red Loan with drawing Cifs attached per 100 & 59. Ger Gt Red demand boxes No. arge size, m 3%as H-uehurl American Line 4%s. North German ed AEG (German Ge Ele) AEG (German Ge Blec) bid B! Commerz and Pri Vi Ger Lloyd. trian A E G (General TRUSTEED SHARES INVESTMENT for_in- T ot o | Gemand o SAPET ELD and GROWTH of &llnch‘l Vestments °for funds and fun Sold in Lots—$100.00 Up all or Write Standard Collateral Shares Corporation Woodward Bullding. Met. 8788, 'V. F. Bourne, Representative The Equitable Life of the U. S. | Home Financing Policies Retirement Annuities Inauiry_Coupon V. F. Bourne (Shoreham Bldg.) Name .. Address Date of Birth. 6% NOTES Secured by First Mortgages Safe—Conservative and surplus fune work for you at Experience est rate consistent in t with ‘absolute hul'nl lnl l'.ll fll. Wm. H. Sanders Co., Inc. REALTORS. Make your savin 41 Vears! the highest inter- safety. Curittes. Dist. 1016 1433 K Investing January Funds Make your now and be sure that those plans call plans FINANCIAL. BEAR MARKET’S END NOW DECLARED NEAR “New Era” Idea Dorpped as Re- turn to “Cycle Theory” Is Noted by Economists. First Mortgage Loans Applications Invited Special Dispatch to The Star. “year end” analysis of the Invut.mcnt situation contained the current ice Report reaches the conclusions: 3 a few months ago investors t‘b‘r‘: ;uwln( the timistic news ugh a magnifying glass, today they are equally enmntlnc ‘the bearis e old and much abused “cycle thzory" is still workis and talk of a ‘new en" in finance is very much at ® ghfio lose stu f the average close dy of ave price of all stocks listed on the New York Stock Exchange indicates that we have l;:: g‘ u‘;bn‘r ;nnnt" for mnearly a of for only a couple of months. 5 i 4. Thn present situation is typical of the later stages of a bear market: viz. exkeme Dpessimism, short selling, ;lllnln‘ volume of trading on each wave. g ‘The money situation is better than in years, bonds have already recovered 40 per cent of their decline and all un- favorable factors are being discounted to a high cegree in present quotations. In short, the bur market is in its later, if not its final, stages. COAL PRODUCTION. By the Associated Press. Bituminous coal production in th United States for the latest week l‘eS ported by the Mines Bureau and for comparable lods follows: Week ending December 21, 11,156,000 tons; puudlfl( week, 11,593,000 tons; same week last year, 11,056,000 tons. . In four weeks recently South Wales ¢xgon¢d 2,354,030 tons of coal ana Glover & Flather | 1508 H St. N.W. National 1753 sell- We Invite Applialiou for FIRST TRUST LOANS on Improved Property in NEARBY MONTGOMERY CO. AND THE DISTRICT OF Periods of 3. 8 of 10" Sears A for a liberal invest- BOSSErHELpS | i Money to Loan 1017 K 8t Councilor & Buchanan Certified Publ Accountants Wm. Gordon Buchanan Tower Bullding National 6110-6111-6213 (Telephone Directory Omission) 14th and H Streets Capital, $1,000,000.00 Checking Accounts Savings Accounts Acceptance Credits Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Cheques Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes 14th and H Streets WADE H. COOPER, President Capital, $1,000,000.00 Public Service Corporation of New Jerse: ividend No. 90 on ‘The Board of Directors of PublicService Corporation of New Jeray has declared divi- dends st the rate of 85 per annum on the 3% Cumulative Preferred Stock, being 82,00 per ghare; at the rate of 7% per anum on the 1% mulative Preferred Stock, being $1.75 per mn. at menuof $5.00 per annum on the non r value Cumulative Preferred Stock, being 1.25 per share, and 65 cents per share on the non par value Common Stock for the quarter ending December 31, 1929. All dividends are payal ber 31, 1929, to stockholders of record at the loscof b usiness December 2, 1929, Cumulative 'Stock are payable on uh L- of each month. T. W. Van umala-mn. Treasurer, Public Service Electric and Gas Company Dividend No. 22 on 7% Cumulative Dividend No. 20 on 6% Cumulative Preferred Stock TheBoard of Directors of Public Service Electric and Gas Company has declared the reg- ilar quartetly dividend on the 7% and 67 Pre- vidends are Sayebie Decessber 31 record at the close of business ber2,1929. T. W. Van Middlesworth, Treasurer. Liverpool Cotton Exchange, Ltd., (Assoc. Members) New York Cotton Exchange New Orieans Cotton Exchange Bremen Cotton Exchange (Assoo. Members) Winnipeg Grain Exchange N. Y. Coffee & Sugar Exchange, Inc. Rubber Exchange of N. Y., Inc. DIRECT PRIVATE WIRES H CORNER 17TH ST.,, N. W., WASHINGTON NEW YORK SAFE FIRST MORTGAGES S — THE BASIC SECURITY OF FIRST MORTGAGE INVESTMENT In the line of recent happen- ings the dependability of our 6Y2% FIRST MORTGAGES looms still stronger as the ideal investment. The entire Over a Third absence of the fluctuating in- Seab AL con 6s. B All Fla SB All Fla Sou Pac clt Star Classified Section at any of the Branch Offices, one of which is located in nractically every neighborhood in and around Washington. There are no fees for Branch Office service; only regular rates are charged. of a Century Without a Loss fluence of the market, with its long train of financial dlsasters, makes this type of investment appeal to those who rate safety as a prime consideration. Lorillard 5% Lorillard (P) McC'rmick ER 6s 34 Midvale Steel Montana Pow G5 4; Montana Pw deb &s. Mor's & Co 1st 4%s. ment in our 6% First Trust Notes. Rutiona "usion: TITLE INSURANCE. Columbia_Title Heal Estate. T &I of Ma com MISCELLANEOUS. Barber & Ross. Inc., com... Ehevy’ Chase Bairs ‘piar Col Sand & Gravel Gommercial Natl. Co, ptd Faper, MIE, pld. Dist. Nat! l-eumln pld. Pederal Storege A AN BANAN BN~ OINRRN Do They mean Guaran- teed income. Get the THE ABOVE SIGN 18 DISPLAYED BY Texas & Pacific 1 Tex & Pac 5s C ‘Third Aveadjbs... 7 Tol Tr L&P 5%830. § Un Pac 1st rf 4 1 Union Pac 1st 4: | Union Pac 4%s 67, . 1. ' Ulster & Del 48 52.. 1 Virginia Ry 1st b VYRy&Pbs.. Va Southwn con 5s. May be purchased in amounts from $250 up. B. F. SAUL CO. National 2100 925 15th St. N.W, N Y Edison 6%s New England Tel 5¢ The Star prints such an over- whelmingly greater volume of Classified Advertising every day than any other Washing- ton paper that there can be no question as to ‘which will give you the best results. AUTHORIZED STAR BRANCH OFFICES No Am EA5%s 62. Pacific Gas & El b Pac T & T 1st b PacT&T 5852.. Paramount 6s 1947. Pathe Exeh.n(l 8. Peoples Phila Co l 01... "Arauld tBh:- Corner” is Star nch Office THERE IS NO SUBSTITUTE FOR SAFETY 38 102% West Shore 4s 61 98% WisCentgnis éd..