Evening Star Newspaper, January 19, 1930, Page 37

FINANCIAL. Safe 614 % First Mortgage Notes $250, $500 & $1,000 Linkins Co. Established 1888 1733 De Sales St. e FINANCIAL. D. C., JANUARY 19, 1930—PART TWO. THE SUNDAY STAR, WASHINGTON, Investment Securities Real Value: !nvlfi! Incom ourtland Nixon 1518 K _St. N.W. Ni NEW YORK STOCK EXCHANGE v . Councilor & Buchanan p Certified Publie Accountants Wm. Gordon Buchanan Tower Bul National 611061116213 (Telephone Directory Omtsston) "BOND SUMMARY FOR THE WEEK 1 (Continued From Sixth Page.) High. Lew. Clese. 89 87k 88 86% 86U B6% 108% 1081 1084 1001 100 100% 101% 100% 101 Stock and dividen —1 b Spear & Co pf (7) . Low. Cless. Stoex and dividend. 72 12 US Smelt & Ref pf(3%) A U 'S Steel (7) - U 8 Steel Corppf (7). 4 U S Tobacco (4).......s Universal Leaf Tob (3). Univ Leat Tob pf (8).... Univ Pictures 1st pf (8). Univ Pipe & Rad. Utah Copper (16) Util Pwr&lt A (e2). 8co Sales ceee Vanadium Steel (14) Van Raalte pf. Vick Chem Co (2%) . Virginia-Caro Chem. ro Chem 6% pf. -Caro Chem pf (7) Elec & Power pf(6) Virginia El & P pf (7) Va Iron Coal & Coke. Vulcan Detinning. .... Vulcan Detinning (A)... Vulcan Detin pf (7)... Wabash Wabash pf, 5 Wabash pt, B (5) Waldort System (1%) Walgreen pf (6% Walworth Co (2) d Baking (A). Ward Baking B. . Ward Baking pf (7). Warner Bros Pic (4) Warner Bros P pf (2. Warner Quinian (2). Warren Bros (19).. Warner Bros pf (2.20) Warren Fdy & Pipe (2). bster-Eisenlohr. .. Low. 86% Utilities P& L 6%8°47... 83% Walworth 6s '4 105% Wi 96 Wilson & Co 1st 6541 99 Youngstown Steel 5s '78.. RAILROAD. 84% Atch, To & S Fead) "% 90 Atch T&S F gen 45°95. 108%% Atch,To & San F 4% 48 87'% Atlantie C L 1st 4s°52.... 93 AtlCoast Line 448 '64... 8813 B& O gold 45’48 91 B&OcCv4eks'i3 9 B&OTetbs'95.. B & O ref 55 D 200! Balto& Ohlo 53 43 Low. 96. Lib3% 1932-47. 95.2 Lib 1st4%s 193 986 Lib éth4%s 1983-38. 101. 5 US3%s1940-43 Hig) ! 99.31 100.00 101.00 100.04 100.08 105.26 112.23 105. 22 25% 30% ’ 37% Stand Brands (1%). 26% 1944-54. . Stand Coml Tob (1). 6 1947-52.. 8815 93% 130 /815 931, 113 MONEY TO LOAN On Local Real Estate 6% & 61,% INTEREST LINKINS CO. Established 1886 1733 De Sales Street Decatur 2500 Stand Invest Corp. Stand O of Cal (214). Standard Ol N J (12). i Stand OIIN Y (1 Stand Plate Glass Stand Plate G Staniey Co of Americ: Starratt (L 8) Co(2) Sterling Sec A).. . Sterling Secur pf (1.20). Sterling Sec cv pf(3). .. Stewart Warner (J34) Stone & Webster (2), Studebaker Co ($5) Submarine Boat Sun Ol (11).. Sun Ol pf (6) 4 Superior Oil Superior Ste: Sweets Co of A Symington. .. Symington Class A.. Telautograph Cp(11.25). Tenn Copper &Ch (1) Texas Corp (3).... Texas Guif Sulphur (4). Texas & Pacific (5).. Tex PC&O (b10%)... Texas Pac Land Trust —1920— Bigh. Low. 100% 90 Argentine 5s June ‘59, 921 Argentine 6s A 57 80 ‘Australta s ‘55 ! EFEEEEE FEF TN A Local Corporation Desires Loan for six months prior to expansion and building of factory here. Will give an interest in corporation as ?’o;ul. Address Box 178—M, Star ice. I WILL SELL $5,000 Stanley A and all 6%, 1946, @ 78. Jefferson Apts. 1st Mort. 6%, 1939, @ 77 %. Smith Bldg. 614 %, 1937, @ 75. Bank of Ch: Belgium 68 5. ¢ Belgium 7%s'45 1112 107%, Belglum 8s°4 99 B&OS W Div5s'50, 12% 39% 78 Bangor & Aroos 4s ‘51 fLEt sl T o e e 414 824 Fidi ittt bt Ll P4+ +4+4 86 Brooklyn Manhat 97% Canadian Natl 4148 '30 90 Canada National 4%s ‘54, ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. & La. Ave. N.W. 63rd Issue of Stock Now Open for Subscription Shares of Stock, $1.00 Each Payable Monthly James E. Connelly James F. Shea President Secretary 1+ +1 100 Canada Bs'52 84 Chile Republ 65 Colombia 631961 Jan 93K Copenhagen 5s ‘52 106's Czechoslovakia 8; 98% Denmark 6%s 1955, 101% Denmark 63 '43.......... 104% 101's Dutch East Indies 6s'47.. 10315 101 Dutch East Indles 6s°'62.. 103% 99 Fiat 7s'46 war 305% 93 Finland 1051 French 78 109% French 7l3s %9 ' German Bank 6s 1938. Chesapeake Corp bs '47. 9814 Ches & Ohiocv 418 °30. .. 93 Ches & Ohlo gen 4%s'92.. 90'4 Ches & Ohlo 414893 A. 93% Chi B& Q4%s B'17 101'x Chi B & Qref 58'71. 1018 1047 SUFE 104 171 101 112% 19 | 92% 162 13 b5% 534 B8% 57 1234 120 $2,000 $5,000 R RN Courts 7%, Corcoran 20 North American Develop- Chi Great West 4 $2,000 85 ChiMStP&P6s'l 6814 Chi M St P & P ad. 108 | 87 ! 98 a78 103 104t 2274 [EJLN 1074 95 101% 20 102 100 20 103 155 99 104% 13 102 German 78°45... % Greek 63 1968. .. Irish Free St Italy 78°61. 987 Japanese 61 &% Kreuger&Toll s ct wi ‘69 10 Mexico 45 1904-54. . 80 Milan 6%s 52 102 - Netherland 87 New South 98% Norway 5%s. 83 Orient Dev b%s ‘57 ‘ 93 ParisOrleans 5%s 19! 68 'Peru 6s°60. 8913 Peru 7s. 871 Pirelll C 81 FPoland 8s 8! 100. . Queensiand 6s 47 105% Queensland 7s°41 94 Rhinelbe 7 71 Rhine West 88 ' Riode Janeiro 8s ‘4 6414 Rio Grande Do Sul 81 Rome6ls 90 Sao Paulo Sta 10214 Seine Dept of 7s..... 70 Serbs, Croats&Slav 7 792 Serbs Croats Slov §s'62.. 4 100 Swiss§%8'46,...0 951 Toho Elec Pwr 7855 1013 Utd Kingdom 548 '37 917 Uruguay 6s 1260. 80% Vienna §s1952. 67 Warsaw 7s 1958, 89% Yokohama 6s°'61. MISCELLANEOUS, Abram & Straus 53%s 43.. Alleghany Cocv b3 "44... 103 Am Agri Chem-7%s "¢1 75 Am Beet Sugar 6s '35, 93ls Am.Chain 68 1933.,.. 95 Am1G Chm 5%s 1943, 88 Am International &% 64% Am Natural Gas 6%s'42. 98 Am Sm & Ref 1st 53’47 100 Ain Sugar-Ref 6837 115 Am Tel & Tel cv 300 Am Tel&Tels 85 Armour & Co 4%s 79% Armour.of Dél 5%s 4. 99% Atiantic Ref deb 684 102 Bell Tel (Pa) ref 63°48. 971 Beth Steel p m bs '36. 102 Beth Steels f 6s'48.. 54, Ceriain-teed 5138 1948, 97 « 92 Chiie Copper in'47. 119%. 59% Colon O1l 687384 .v. . evsss 1005 96t Columbia GREdeb bs 3. 110% 80 Comm Inve b 9 981 88% Comm In 73% 60 ConCoal ( 93 % 104% Detroit Edisonref 65 '40. 5% 87's Dodge 63°40.. 95 Duquesne 43481 60 East CubaSug 7%s 37 947 General Cable 6% s 1947. 98 Gen Motors 6s ‘87 104 Goodrich (B'F) 6%s 47.. 85 Goodyear Rubber 53 1957, 98 Humble Ofl & R 6%s ‘32, 89% Inland Steel 4 % "I‘Y'll 109% Inter Tel&T ev 4% 39 6% Kendall 5% "48 (war).,.. 96 Lackawanna Steel b5 4 Laclede Gasb%s. Liggett & Myers b Lo Inc 6s 93 Montana Power 68 1943.. 92% Nat Dairy Prod %8s 48. 20 Nat Radiator 638 1947 101 New England Tel 68 ‘62 110 N Y Edison 18t 63841 96% N Y Tel 434839 104 N Y Tel 6841 95% North Amer Ed 0 101 Pan-American 68'34..... 911 Paramt-Fam-Lasky 6847 951 Philadelphia Co 63 °67. 50 Phila&Read C&I 63 wi ‘49 85 Philips Petrolm 5§%4s 39, 284 Postal Tel & Cabl: . Public Service 4%5'48. .. Remington-Rand b%s ‘47 Sinelair Ol 6830 Tenn Copper Transcon O11 & United Drug bs '53. U S Rubber 1st & ref 5 96'% U S Rubber 7148 '30. 95 Utah Power & Light 5s... 95% 13% 877 106% 891 101% 90 97 Parls-Lyons-Med 6s ‘58. io“ 1044 108'% 293 100t 9915 100 68 5 96 « 1033 9% 13 878 106% 8%, 101 8% 10315 i 2 100 102% 1004 7314 82 80 103% 108 103 74 a1 100 Erie con 48 Eriegen 104% Great 59 87 87 9074 Lake Sh FEIE L LHIAEL 0 4 I3 FEFFEEFIE 94 +98, 9314 Missourt 90 45 754 od 100% 101% 4 105 9% 101% 102 NYNH 41 NYRy 10% N ¥ St 88 60 109 FESEFE FEE e G X3 93 8 97 83 97 F4EL FEE FEFEES 834 South: b 17 4T% 100% 25 101% 97y 9% & 95% 1044 83% Wabash 99 Wabash 93% Wabash 99 Wabash 73 894 94 W 100% W 98 105% Chi& N W 6%s Chicago Northwest 1 Chicago Rys bs'27.. 91t Chi R | & Pacref 4s'34... 85k ChiR1& Pac 4%s w.1 901y Chi Union Station ¢3s. 1117 Chi Unton Station 6%s 83% Chi & West: 9915 Chi & Wesern Ind 6% 9814 CCC &St L bs D, Cleveland Terml Cleve Terminal 6% 93% Colo & Sou Cuba R R bs ‘52 Cuba North 5%8'4: Del & Hudson & % 87% Den & Rio Grande cn 4 Den & R G West bs '65 Den&Rio Gr Westn b 93% Detroit United ¢%s'3 80% Erie 1st con 4s 96, Erferef 58'67. Florida East Co: 102% Grand Trunk 1051 Grand Trunk 7s'40... 91ls Great North 4% 106's Great North gen 7s°36.. Havana Elec Ry 5% 70% Hudson & Man adj 5 Hud & Man ref Illinots Central ref 4 9413 Illinois Central 4% s Inter Rapid Trans 6s‘32.. Inter Rapid Tranev 7s Inter & Great Nor adj 6s. Towa Cerit ref 4s '51. Kan City South #5 19 923 Kan City South s " 841 Kan City 82 Lehigh Valley cn 45 2003, 91% Louls & Nash uni ¢s°40. 100 = Louls& Nash 7s. 1930. 80 Market Street Ry 75 A '40 96% Mil El Ry & Lt 1st ref § 12 Minn & St L ref 4 97% MA3tP&SSME% 8114 Mo Kan & Tex 1st Mo Kan & Tex ad) 55 '67.. 95% Mo Kan & Tex prin5s A. 70 Mo Pacific gen 4 Missour} Pacific 58 9415 Mo Pacific bs ' Mobile & Ohlo 4 %877 Nassau El 48°'51.... 93% N Y Cent deb 48’34 844 N Y NHG&Hart4%s, u1 NYNH&:{icvd.h Norfolk & W cn North Pacific 3s 2047 84 North Pacific 4s'97, 100% North Pacific s D 2047, North Pacifior 1 6s 2047, 83'3 Ore Wash 1st ref 4s 1961 974 Pennacn 418 1960 Reading 4 %8s '97 Rio Grand West col 48 91% RIATk & L 4348 StL iron Mt gen 63 193 91% StLIM&A&SR&G4'3. 83% StL&S Fprin ¢s A 60, BtL&SF 4%s'78 StL & San Fran 6s B '50, 93% St Louls S W con 4s ‘32, 89% StP KCSLine4ls'sl 501 Seaboard A L ref 4 86% South Pacific ret 864 Southern Pacific 4% 100% Southern Ry 1091 Southn Rws Soutnern Ry dev 6% ‘Third Ave 1st rei Third Ave ad) 68 911 Union Pacific 18t 4 2% Union Pacific 45'68 Unlon Pacific ref 45 2008 .. 99% Virginia Nty 1st 6862 9714 Va Ry & Power bs' Western Maryland 4s '52. tn Maryland 6%s ‘77, rn Pacific 53 "46. R1% West Shore st 4s 2361 n Ind con 4 4%8°35.... 7 lien 45 '96 T8 '3 104% 109% 9513 ' 110 ‘76, th gen § 57, 58, & 15t 45 °60. 4s°31. R ) REFRES EELEER ¥ EE ST - 5 5 A'SS Pacific 63 G. [ & + &5 7. & Hartelt 640, Ry 100% % 1014 99% 103% 814 97.2 99 881 4% 197 18t 683 5s B 1976 518’75 Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., January 18— ‘The market slumped badly this| week, values dropping 3 to 4 cents & dozen, but recovered the latter part of | it takes large fat stock, 4 pounds and over, to bring top values of 20 to 26, smaller ducks being neglected at 16 to 18, while geese sell mostly 15 to 24, with Kent Islands bringing top values. Market for guinea fowl and pigeons hold steady at 40 to 60 each for the former and 25 a pair for both young | and old of the ter. Receipts of white potatoes from all the week and closed today at 2)z €ents sections only moderate and under a | % dozen lower than last week. Receipts | good demand the market holds steady have been more liberal and while there is fairly prompt sale on all desirabi fresh-laid stock, many of the receipts are of doubtful firsts, and all such are slow sale even at discounts. While the market has a firmer tone today, it is still unsettled and prices generally are in buyers’ favor * at the following quotations: Hennery white firsts, 421, cents a dozen, and firsts, 42 and 42!, but_small pullet eggs will not bring over 35, while culls and dirty stock are slow sale at 25 to 30. Poultry Market. ‘Under generally light receipts and a good demand the live poultry market holds firm, with values a shade higher on practically all lines.’ Demand con- tinues good for young turkeys 8 pounds and over at 34, and 35 cents a pound 'for hens and 30 to 32 for gobblers, but Ccrooked breasts as well as old toms will not bring over 24 to 26. An improve- ment is noted for young chickens and with receipts light all desirable stock A pounds and over meets with ready *fgale at 26 to 30, but Leghorns not so desirable and will not bring over 21 and 22. Old hens, 4 pounds and over, in'good demand at 25 to 28, but small- er stock as well a5 Leghorns move slow 2t 20 to 23, while all poor light fowl i lected at 17 and 18. Capons, 7 W‘x:ne!! and over, bringing 33 to 35 and smaller 30 to 32, but old roosters are in ample supply and slow sale at 17 #nd 18, Demand for qucks limited, but quality, not grading | and values a shade higher at 2.75 to 10 per 100 pounds, but ungraded stock | will not bring over 2.25 to 2.50. Mar-| ket for both sweet potatoes and yams dull, and under fairly liberal receipts | the market is easy at 2.00 to 3.00 & bar- | rel for the former and 1.25 to 2.28 for | the latter, with bushel hampers selling mostly 75 to 1.25. i Receipts of native and nearby garden truck continue light, and under a good demand this market holds steady at the | following quotations: Cabbage, 50875 basket; carrots, 3.00a4.00 100; Kkale, | 1.25a1.50 barrel; onions, 1.75a2.00 per parsnips, 50a65 basket; 5 .25 bushel, and turnips, 30240 hamper. Live Stock Market. The live cattle market continues steady under a fairly good demand, but centered on first quality stock with all undergrades slow sale at inside prices. Quotations today wharf: Beef cattle, first quality, pound, 10a 11; common to medium, pound, 8a9. Bulls, as to quality, pound, 6a8. Cows, cholce to fancy, pound, 5a7; common to fair, pound, 4a5. Oxen, as to quality, pound, 7a8. OCalves, veal, choice, pound, 16a16';; large, fat, pound, 1415 al5; large, rough, pound, 13!%ai4; thin, pound, 8a9; rough and common, pound, 6a7. Sheep, choice, pound, 2al at Light street | 10%5all. Hogs, straight, pound, 9a91;; sows, pound, 8a9. Live pigs, pound, 10 al5. Shoats, pound, 10a12. Grain Prices. Closing grain quotations: Wheat— No. 2 red Winter spot, 1.25%; No. 2 red Winter garlicky spot domestic, 124%; January delivery, 1.2415. . Corn —No. 2 yellow domestic spot, 1.02a1.03; cob corn, 4.6524.70 per barrel. Onats— No. 2 w;ne domestic apot, 5412; No. 3 white domestic spot, 53's. Rye— Nearby, 90a1.00. o NEW YORK BANK STOCKS. NEW YORK, January 18 (#).—Clos- | ing bid and asked prices on the stocks | of leading New York national banks and | trust companies follow: NATIONAL BANKS. Bank of Amerjca anhattan National City it TRUST COMPANIES, Bankers ntral UNITED FRUIT'S NET. ‘The United Fruit Co. has issued its pamphlet report for year ended Decem- ber 31, 1929, showing net income of $17.802,992, after expenses, depreciation and estimated taxes, equal to $6.78 a share on 2,625,000 no-par shas o stock. ‘This compares with $20,606,303, old bucks, pound, 3a¢. Spring lambs, fancy, pound, 12a12%; choice, pound, 24 a share, on 2,500,000 shares cut- 1928, | (Conti tlgood as any we have, yet this Third Avenue. . Thompson J R (3.60) Tide Water Asso (60c) Tide Water As O pf (6) Tide Water Ol pt (5) Timken Det Axle(80c). Timken Roller Bg (3). Tobacco Products Tobacco Products A. Transcontinental Oil Trico Products (2% ) 4 Truax-Tra Coal (1.60). Truscon St (g1.20). . Tiin City Rapid Tr (4). Union Bag & Pape: o 81 Union Carb & C (2.60) . 4 Unlon Oil of Cal (32) Union Pacific (10)...... 218% 8219 Union Pacific pf (4)... Unifon Tank Car (new) United Alrcraft United Aircraft United Biscuit (1.60) Utd Business Pub Utd Carbon (2)... United Cigar Stor United Cigar pf.. United Corp. .. 4 United Corppf (3)..... United Dyewood pf (7).. United Elec Coal....... United Fruit (4). . Ttd Gas & Improv (1.20 United Gas Imp pt (5), “Unit Piece Dye W (2) nited Stores A United Stores pf. U S Distributing. U S Distributing pt (1) US Express.. U'S & For Sec. .. : For Sec pt (6). 105 100 29 5 25 89 ). 134 9 S L S Pipe & Fdy (2). S Pipe&Fy 1t pf 1.20. S Pipe&Fy 2d pf 1.20.. J S Realty & Imp (5) S Rubber...... S Rubber 1st of. US Smelt & Ref (3%). 25% Underwood-Ell-Fish(5). 106% 101 3Tk 26% 91y 20% 2% % I+l +++00+111 141 +1 » W dhtdd 4 AL+ +4+4+4+110 19% 2 120 x121% 9 9 18 84 e1% 18 84 P l++4+0 000+ ++ West Penn Elec A (7). ‘est Penn Elec pf (6) t Penn Elec pf (7) Westinghouse Air B (2). Westingrouse E & M(5) Westinghse E&M pf (5). on Elec Inst (1)... t Vaco Chlorine(2). Wextark Radio (2). White Eagle (2).. White Motors (2)... White Rock Min Sp (14) White Sewing Machine. . White Sewing M pf (4).. Wilcox Ofl & Gas. .. Wilcox & Rich (A) 2%.. Wilcox Rich, B (2) Willys-Over (1.20) Willys-Overland pt (7).. Wilson & Co. Wilson & Co (. Wilson & Co pt. Woolworth Co (3. Worthington Pump. . Worthngton Pump A (7) Worthngton Pump B(6) Wright Aero (2) Wrigley Wm (4).. Yale & Towne (15) 4 Yellow Truck & Coach Young Spring (3)...... 37 Youngston Sheet & T (5) 109 Zenith Radio........... RIGHTS—EXPIRE. 4 Am R Milis Col Carbon. N Y Centra Reynolds Spr Rhine W PUH0 Ll LI+l I+ +T L+ 444 ITHET #4400 I++1 41 - P+ KRl June 15 far 11 .Jan 31 Jan 24 est EP..Jan. 23 B % 2% in st o % ™ EIGS 3" stoek.” inBiue HIEHLGRADE BOND SSUES ARESTEADY Dealings Small and Price Changes Narrow at Short Session. BY JOHN L. COOLEY, Assoctated Press Financial Writer. YORK, January 18.—The bond market thinned out in the two-hour session today. Only a few issues were active at the end of this week of rec- ord-breaking new financing and prices were rather mixed, although the high- est grade securitles displayed firm- ness. Small dealings brought gains of a point in Illinois Central 5s and Leniea Valley of New York 4s, among the ralls, while a handful of utilities, in- cluding West Penn Power 5s and the new American Telephone 5s, improved in an equally thin market. Industrials were dull. Cuba Dominion Sugar 7!2s rose nearly 4 points on a small sale. American Cyanamid 5s eased. Convertibles had a small following on the decline in stock prices. Com- mercial Investment Trust 5l2s lost 15, American Telephone 4%s, displaying the largest turnover on the list, were steady. Atchison 4148 dropped nearly a int. D"Umud States Governments were ex- tremely inactive and virtually ‘un- changed on the few transactions that did appear. STOCKS WITHSTAND SHARP BEAR DRIVE DURING PAST WEEK hth Page) tion earnings of 1926 and 1929 are re- Ppeated. ‘There are groups of stocks whose markets are today being based on the overproduction of raw materials or manufactured goods, the overexpansion of manufacturing or distributing facili- ties, overbullding and overdevelopment in the real estate field, overcapitaliza- tion and large existing inventories. These are being singled out one after the other by the professional raiders for the purpose of depressing the entire share list. At different times this week the increased activity on the Stock Ex- change has been due to the attention given such issues whose turnover has been from 10 to 12 per cent of the day's total, as, for instance, that in Mont- gomery Ward on Wednesday and in Radio Corporation on Thursday. Against this, however, has been the stability of other groups of stocks, such as the public utilities, rails, electrical manufacturing and, at times, those of the iron and steel group. In these sub- stantial and discriminating buying has been taking place. The effect on senti- ment has been most favorable, so that, while a few shares have this week broken through the levels of last No- vember and others have approached very close to their former low, 50 se- lected stocks on Thursday had ad- vanced above the average of January 2 before liquidation was renewed on Fri- day. This is a splendid record for a period in which common stocks had to meet, the test of the more unfavorable business develo] nts than in the past two years. y then were also brought into competition for the first time with a list of bond offerings whose prices and ylelds appealed ltmnge- 1y to the investor, who today may iving more thought to the return on is capital and the safety of it than to its possibilities for appreciation. (Copyright, 1930.) “The Romans made cement at least as | secret . | sells at a discount. for more thanp. 1,000 years, and ;"3 rediscovered only about a cen- tury ago. What Fixes Bond Prices BY GEORGE T. HUGHES. Money Rates, A bond-buying policy depends on the outlook for money rates for its success. If the trend in money is downward— that is to say, if interest rates are de: clining—bonds should be purchased be- cause fixed-charge securities advance | when money declines and vice versa. | The type of bond which appreciates in market price most rapidly in periods of easing money is the low coupon is- | sue selling at a substantial discount and below its redemption price, if any. | Conversely, the kind of bond to buy when it appears that money is harden- ing is the higher coupon rate issue sell- ing at par or at a premium and at or near its redemption price, if any. For a number of years now the bond market has suffered from the popul ity of stocks. It has also been handi- capped by constantly rising money rates. That phase of the cycle seems to have passed, at least as far as conditions in the money market go, and, if so, the profitable bond to buy is the one that It is not at all certain that the public, which was weaned away from the bonds during the bull market in stocks, will return to its former love, but financial institutions, which in any event are the bulwark of the market, may be depend- ed upon to buy bonds if fundamental conditions warrant it, and the individual investor who still puts security first and price appreciation second will do well to follow them. Bargain Tssues, There is, however, no reason why the individual should not make the best bargain possible for himself. That bar- gain is to be found among the lower coupon rate issues. It is well to remem- ber one other point. In periods of busi- ness depression it is always the higher- grade bond which makes the best show- | Ln; in the market. That is the one un- affected by current earnings and the one to which buyers turn when the trade outlook is uncertain. INVESTMENT BOND MARKET IS STRONGER; NEW ISSUES ABSORBED (Continued From Eighth Page) factor, even though Cuban sugar com- panies have a_hard time with the tariff as it is. But evidently the attitude s that things could have been ‘worse, and indeed, might yet be. American Beet Sugar bonds and those of other domestic companies dealing in American-grown sugar reacted for the same reason. Oil Price War. ‘The price* war declared in crude oil weakened the position of some oil bonds, although the declines were not wide. It is pointed out that many of the small refiners are carrying huge | stocks of crude under the storage and control scheme and that they will have to do some new financing if crude prices continue to drop. ‘Tractions firmed during the week with the decision granting the Denver Tramway Co. a 10-cent cash fare. This is taken as proof that the Balti- more fare decision is being treated as | a precedent. | nds of the Seaboard Air Line Rallroad were active and had a mo- mentary upturn when the president announced completion of the company's stock-selling cam by which a net | debt, reduction of $15,750,000 was at- | (Copyright, 1930.) CHICAGO DAIRY MARKET. CHICAGO, January 18 (#).—Butter firm; * receipts, 6,890 tubs; creamery extras, 3513, standards, 35; extra firsts, | 34 to 34%; firsts, 32 to 33; seconds, | 30 to 31. Eggs firm; receipts, 7,803 cases; prices unchanged. POTATO MARKET. CHICAGO, January 18 (# (United States D: Elfl.mtnt of Agriculture) — Potatoes—Receipts, 121 cars; on track, 219 cars; total United States ship- ments, 519 cars. No trading on ac- count of subzero weather; market nominally unchanged. £ Money to Loan Recured by first deed of tri Prevaling interest a First Mortgage Loans In Arlington County and Alexandria, Virginia Commonwealth Investment Co., Inc. 806 15th St. N.W. Phone National 2623 Mortgage Loan Correspondent for The Prudential Insurance Co. of America FOR RENT Furnished, One Room and Bath Non- housekeeping Apart- ment, with maid serv- ice. THE ARGONNE 16th & Columbia Road The Commercial National Bank Pays interest on DAILY BAL- ANCES on Savings Accounts. Interest starts from DAY of deposit and earned to DAY of withdrawal. Come in and let us explain Resources Over $20,000,000 14th & G Streets R. GOLDEN DONALDSON. Pres 'WE WILL BUY Mortg. & ent National Investment om. National & Invi Mortg. tment ’ Bank & Investment. In Real Estate Mortg. & Invest. Com. Investment Bldg. Bonds. Tivoli Apt. Bonds. Bank of Brightwood. WE WILL SELL Commercial National Co. Pfd. @ 823%. City Club Bonds. Bid. Atlantic Seaboard Airways. rfax 1st & Ref. 63is, @ 60. m Apt. 1st & Ref. 5,000 100 1,000 1,000 800 614s, ‘48, @ 50. Smith Bldg. 614s, "37, 723%. * CAPITAL CITY CO. 509 Washington Bldg. Phone District 8291.8292. Loans | National 1753 & INVEST YOUR SAVINGS IN SAFE FIRST TRUST NOTES Return Certain THOS. E. JARRELL CO. Principal Protected Realtors 721 10th Street N.W. National 0765 Offices for Rent in the Edmonds Building 917 15th St. N.W. Opposite MacPherson Square The Wall Street of Washington Desirable suites of two to six rooms row available. Very Low Rentals HANNON JLIALLAL A Managing Agents 1435 K St. N.W. Nat'l 2345 First Mortgage 20 | Applications Invited | Glover & Flather “ 1508 H St. NW. LUCH ment “Free Stock” @ 70. 19 Units Wardi Mortgage and Discount @ 20. 30 F. H. Smith 74 % Pfd. @ 400 er Train Control @ 50c. 30 Virginia Plate Glass @ 2715. 100 Vasco Products Pfd. @ 3. 22 Federal City Securities @ 1214. 100 Atlantic Seaboard Airways @ 11. THOMAS L. HUME 1412 G St. National 1346-1347 First Trust Money Available JAMES F. SHEA HOUSE HEATING Permits you to enjoy Winter Without Furnace Cares! Terms o Suit You INVESTIGATE NOW! Washington Gas Light Co. ing Department 280 Now!—For Bryan’s V. Q. Very Quick Delivery Call Metro. 0252 In keeping with our policy of continually trying to improve our service we have just added a MOTORCYCLE to our delivery department—it is at your service from 8 to 5:30—USE IT. Office Supplies Stationery—Printing E. M. Bryan Co., Inc. 813 13th St. N. W. Metro. 0253 FIR Over a Third of a tenlury Without a Loss National 2100 THERE" ST MORTGAGES ARE YOU INVESTING OR SPECULATING? Many people are often led into speculation when they think they are investing. Se- curities that float on the ebb and rise of the tide of trade are more or less speculative. 6'2% FIRST MORTGAGES are investments — changeless and riskless. never varying in their yield and at maturity every dollar is re- turned intact. Our distinctly and decidely Always secured; Consider carefully whether you want to speculate or INVEST. May be purchased in amounts from $250 up. B. F. SAUL CO. 925 15th St. NN\W. IS NO SUBSTITUTE FOR SAFETY