Evening Star Newspaper, January 29, 1930, Page 11

o FINANCIAL. BOND LIST HIGHER ON STEADY DEMAND Volume Increases in Various Groups, but Price Range Is Small. BY F. H. RICHARDSON, Special Dispatch to The Star. NEW YORK, January 29.—Bonds, moved slightly higher toda; Th!r" ‘were some irregularities in the list and it was evident that the re:djuxtmenl‘ to meet the low offering prices of rc- | cently floated issues was still going on. But the steadincss of the market in| the past two or three days lends | strength to the theory that, for the 1!:35]'. part, the market has found its ! Volum! was up today and activity in %llrurx of the market pointed | h muc healthier trading conditions. An cxample of the readjustments is contained in the movement of Canadian National 5s issued last year. These have been selling at 1 to 1'% points premium. With the offering of $18,000,000 Canadian National refund- ing 5s at 9913, the outstanding issue has drooped a point in the past few days and it is now selling at about the offering price of the new flotation. The Chicago situation has had con-| siderable sentimental effect on pnces of municipal bonds, due to the nervous- | ness of holders of obligations of other cities, and to meet it dealers have been reducing quotations on new_issues in order to move them out. Dealers Teport a steady distribution of the big issues brought out in December, such| as those of New York, Detroit and San Francisco. One organization stated to- day that about 80 per cent of all the bonds they have been identified with {n the last six weeks had been mar- It is understood Chicago banks have advanced funds to pay the coupons on the sanitary district bonds due shortly. An issue of New York Central equipments is expected to be offered later in the week on about a 4.60 basis. New flotations today totaled $29,145,146. Advances in the high-grade mup. today included Atchison General f.?“"" Pacific 4s and Pennsylvania las. United States Government bonds were extremely dull. Convertibles were featured by a drop of over 4 points in International Telephone 4!3s, parallel- ing a decline in the stock. The loss ‘was partly recovered. General Theater Equipment 6s, traded on the curb, jumpea 4 points. Mississippi nlva— Puel 68 gained 2 points, in sympa the new hl‘h in stock of Calumb!ln Carbon, which is one of the controlling groups of the fuel company. It was in the speculative [roup that the greatest activity centered. ‘Trac- tions issues were again in the spotlight. Interborough descriptions reached new high levels for the year under a steady stream of buying orders. Fisk Rubber 8s ran up 6 points at| the opening and the 5l2s on the curb had a 2-point advance. Most of the gains were held. The outlook for the rubber industry has improved. Both Goodyear and U. S. 'Rubber obligations ‘were firm to a shade higher. Foreign bonds, not having been af- fected by any new issues of importance of late, were still firm. Notable gains today included a fractional rise of French 748 to a new high level since their issue. — Washington Stock Exchange SALES. ‘Washington Gas 6s B—$500 at IM Commtrchl National Bank—! The Carpet Corporation—25 at IL AFTER CALL. ‘Wuhl.nnon Gas 55—$1,000 at 101. Railt y & Potomac—10 Il 95%, ll) at 951, 5 at 951, wn:hninmn Medlul Bldg. Corp.—6'2 at 98. Commercial National Bank—40 at 245. Federal American Co., com.—100 at 33. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Telga. 4%s " Amer, Tel, & Telga. 4728 "3 Anacostia & Pot. ‘Anacostia & P & P. x v Balto. & Annap. 5s. :uhln ton _Gas 58 serie as €s, uen-- 3 Wash. Rwy. & Elec. msczmnous r & Ross, Inc, BE. tory ue s5. Wesh. Cons. Titie 6s STOCKS. PUBLIC UTILITY. American Tel. & Tel Capital Traction Washington Gas Lisl & W melmbou tomac Elec. 6 Bl oiomas, Blec, 355 pid:: h. Rw. Efec. R s Balto, Wash, Balte, & Antap. pid. . NATIONAL BANK. National Capital. Becond " 7 e National Bank of Washington. TRUST COMPANY. American Security & Trust Co Continental _Trust... .12 erchants’ Bank ational Savings & Trust: . nion” Frust Wash. Loan & Trust . SAVINGS BANK. Uhnion. TITLE INSURANCE. remen’s Naticnal Columbia .. Real Estate : Thie £°Y0v. of Ma. com: MISCELLANEOUS. Barber & Ross. Inc., com ! Chevy Chase Dairy pfd Col._Sand & Gravel pfd Paper Mig. pfd Emerson’s Bromo Selizer Dist. Natl. Securities pfd. Federal Siorage pfd. Federal-American Co. ‘com d!rll-Aflrnun prd. . 1 hs. & Stor. pid. notyp o dnv. pid u: !tonl pid. . & Guar. pfd. W B dividend FREIGHT LOADINGS. By the Associated Press. Freight volume now moying on the country’s railroads as disclosed by American Raflway Assoclation figures announced today on car loadings during y the last week reported and comparable periods follow: ‘Week ending January 'lll 847,353 cars. | Bame week last year, 931,861 cars. " Twelve theaters in vtannl, Aulkh, Ajre showing sound films, = r | Beth st UNITED § ATES. (Sales are m Sales um Low cm- 265 996 99 996 . 42 10026 10025 100 26 .+ 271 100 31 100 29 100 31 na 1 6 99 46 105 24 105 l’ 106 1’ FOREIGN. Us(- 1944, Close. s 96% 96% 97 91% 9% 96 814 Argentin. Argentine Argentine May 61.. Argentine 5% s 62.. | Argentine 6s A. Argentine 63 B. | Australia 4% Australia 5s 1 Australia 55 1957, Anstria s . Bank of Chile & Bank of Chile 6% s. Belgium 6s. Relglum 61 Beleium 7= 1958 Beleium 78 1956 | Belgium 714, Canada 631931, Canada 5= 1952, | Chile 6 60 1 Chila 6s 61 | Chile 7= 1943 Colombia 6s Jan 61 Con Pow Japan 7« Copenhazen 4% 53 95 Conenhazen Bset.. 17 Cuba fun, Czecho R 1951 Crechn R= 1952 Danish Munfe fx A, Danish Munic 8s B. Denmark 4%s.... Denmark 6s. DE 5l M DET5%s Nov 5. Duteh East 147, Dutch East T 6x 62 El Salvador 85 4 Fiat 7= ex war 4 Finland §% Finland = £ 63 45 Finland 7. ... Framerican 7%s French 7s... 45, | French 114n German Rank German Ts. . Greek 63 1963... Halti6s...... Hungary T4%s. Ttalv 7a... Ttaltan P“h S7s Tapane: Japansse Hin Tugosiavia Bani 7. Rarstadt R« 10 Krenger&To'l Netherlands 6= 72.. New So Walea 57.. L1 Norway B, .. Norway 5s 1968 Norway 6= 1943, Norway 6= 1944 Norway 61 1952, Ortent dev K14 B8 .. Orfent Dev'mt 68 53 Paris-Ty-Med fs Prague 7%s. t 245. | Quee: Queensland 7 1and 6; Rhinelhe Un 7s. Rhine Wat EP fs 52 ?x Rhine West 68 53. . Rio de Taneire 8% s Rio Ae Jan fx 1948 Rio Grdo Sul fs 48 Rin Gr Do Sul 8s Rome 6% x. . San Paulo e 1 Sao Panln 1950 Saxon (PW) 7 Selne Tx42. . Serhs Cr Slav Tx, Serbs Crot Slo 8 Solssons fs. Swiss Confed 1 Toho El Pow s ll. Toklo 5n. 4 Yokohama o5% MISCELLANEOUS. Alleghanv Cp ke 44 o0y, 99 Allechany S« & a0, 99 Am Chain 6x 23. oo 8O Am Cotton 0l § 095, 916 AmChem 5l sev 49150 102% 101% Am Int Cor5%sds 4= OF Am NatGas6%nd3 2 72 Am Smlt & R 1st b8 12 101 Am Sugar Ref6x.. 3 102% Am T & T 55 65 wi. 829 100% Am T&T cv 4% = 39 asa 143% AmT&Tel tr b AmT&Ts 1 ba. Am Tel & Tel 5%.. Am Water Wks bs. . Armour&Co 4%s 39 Armour Del 5% At1 GuIf EnES Atlantic Refin b Rell Tel Pa 68 B Bethishm St1 nm el rf B, Rethleham Steal Rklvn Edison s Rush Term Rldg Chils Conner A Col G&FE] 5= May 52 Com Invest 5148 43 Con Coal M4 x. Cor GasN Y 5% Cuba Cane fs. Cuban Am Suga! Det Edison bs & 104% 101% 101% 104% & 108 100% B @ o Benvdodumaam— Gen Stl Cast 535 48 Goodrich 6%4n. . Goodyear 68 retn. Humhle O & RF Humble O & R 51 111 Rell Tel b 111 Steel 435 40 Inland Stl 4% = 78 Tntl Cement 6 48.. Tnt] Mateh 5= 47, Int Mer Mar 6 Int Paper 53 4 Inter Paper 6: Int Tel&Tel 4%s ¢ Kan City P & Lt §i KanG & ESs 52.. G 5% 1004 % 101% 1024 814 a1 R R T |18‘L 115 108% 104 104 104 101% 101% 8 18 103% 103% 3 R Lorillard 5% Lorillard (P) Lou Gas & E1 Midvale Steel ba. Montana Pow 43... Montana Pw deb bn. Mor's & Co 15t 4% s at Daryb%nm .. England Tel 5+ N Y Edison 58 d4... 100% 100% 1004 100% 100% 100% 9R% 984 82 82 o Raonmaluman o Sea INoAm Ed5%s Nor Ohlo Tr&L Nor States Pow § THE EVENING [sviov o BONDS s ot Received by Private Wire Direct to The Star Office Sales. Pacific Gas & El bs. 3 PacT& T 5s52.. Pan Amer Peteés.. 4 Paramount 6s 1947. 11 Pathe Exchange 7 4 Phillips Petro 8 ys. Por Ric Am Tob §s. Postal Tel & CE4%s Pressed Sti Car s Punta Alegre 7s.... Sinclair Ofl Sinclair O11 Sinclair OI1 Sinclatr Cru Sin Pipe Line Skelly O11 5 Y South Bell T Southwest Bell Stand O11 N J 46 Stand OIIN ¥ 4 S Walworth 6s War Quinland Wi Westn Unfon Wiek-Spen cv Wilson & Co 1 .| Win Reneat Ar 71 YoungstnS& Tss 10 101% 6 103% 102% 99% 105% 103% 108'% 27% 1004 100 100% RAILROAD. Atchison adj4s.... 9 Atchison gen 4= 26 Atch deb 4 4% 43, 9 Atlantic C L 4s. Atlantic CL 1st 4s. 20 AtlantieCL 44864 5 Atl& Danistds43. 1 Atl&Dan2dds4s.. 2 !lO""%l Bush Term con 5s Can Nat 4%s 54 Can Nor 4% 5 1935.", Can Nor §%: Can Nor 7s. Car Clinch & O §s. . Cent of Ga 58 C 69. 5 e RS nZauiinas~vnonnnai s Hums Chi & NW gen4s... 1 Chi N W 43482037, Chi&NW conv 4% s 816 Cuba Nor l%lekl . Del & Hudist rf ¢s. BAas Den&RG W 4%s Erle 1st cons ¢s. - wios Fla East C5s 74, Fonda J&G 4%s 53, Gr Trunk st db Grand Trunk 7s. Great Northn 1st b3 Gt Nor b%a. . Gt Nor zen 78 Green B & W deb Hud & Man aj b Hud & Man ref 5s.. Hocking Val 4%s 111 Cent 48 52.. 111 Cent 4 5: I Cent 4% ooy Hana peRIRA o % 4] 6 Int RysCA 6s 41 Towa Central ref 4s Kan City Ft 8 4s. Kansas City S bs. Kan City Term 4s. Lake Shore Lehi Valen & LehiVgen 4% 200 5 Lou! Luull & Nash 7 Man Ry 1st 48 90. .. Mill El Ry&Lt 4%s MIIEI Ry & L bs 51 Mil El Ry & L s 61 l(Kl'l'nrlnllA. Ho Paeific gen Mo Pac fx G 18 Mo Pac 514s 49 ovt Mob & O 414877, .. Nassan B} 4x5 NOTex &M N ¥ Cengen3 222%% i o g 14 2zzaoag 2 a S - &l 2222227 i ) ZZ <qrg StateRy 6% NY Sus&Wn gen bs NYW&BA4Y%s. Nor & 8 gen 58 54. . z Nor Pac 3s 202’ Sn anrunnosanatens R9 a3 STAR, WASHINGTON, D. C, WEDNESDAY, JANUARY 29, 1930. 9T% 5% 91% 102% 103 1018 951 98% 106 101% 100 94 994 84% 100% 88 58% 89% 86% 105% 103 108 37% 4 100% 100 ¢ 1001 86'% 96% 39% a1 Qfi'i fon 0% 96 93% 928 9314 99% 98% 114% 110 9% 4 101% 103% 9914 98% 9% 101% riod from 1918 to 1929. s Sales. HI 1 lbfl‘a 100‘; 100‘m 2 102% 102% 102% 2 28 28 28 4 1074 107% 107% 5107 107 107 3 9815 984 1 98% 98 1 105% 105% 1 98 98 6 100% PCC& PCC&StL 375 PortEIPL PortRL P Port RL&P 7% Reading gen 448 A StL IM&S gn 8331, StL IM&S R&G 4 SIL&SFplesA SIL&SF4%s 18 StL &SanFrinSs. StLS W 1st ¢s. St L&SW con 45 33. StLSW 6563, StP & KCShL 4148, St P Un Dep 5s. Seab AL ref 4 Seab A L4ssta Seab AL con SBAIlFlags3sA SB All Fla 6335 B. Sou Pac clt 4s. Sou Pac ref 4s. | Sou Pac 43 rets. .. | Sou Pac 4% 69 ww Sou Ry gen Sou Ry con 95| Sou Ry Mo &0 4s.. ‘Term Asso S L d4s [ Tex & Pac5s C 79 Third Ave ad] 5 Third Ave ref 4s 60 Tol Tr L&P 5%s 30 Un Pac 1strf Whash 4%s 78 rcts Wabash 18t 58..... Wbash 58 76 B..... West Maryland 4; West Md 5% 77... West Pacific 58 Wheel & L Ecn 4s. Wilks BRE 1=t 5s. . WisCent gn 4s 49.. Corporation News NEW YORK, January 29.—The fol- lowing is today's summary of important corporation news prepared by Standard Statistics Co., Inc., New York, for the Associated Ne'l Trend. A further increase in steel activity was registered during the past week. Rate of production for the entire indus- try was about 74 per cent, a gain of 5 per cent over the preceding week and 9 per cent over rate of two weeks. In the like week of 1929 production was at 84 per cent of capacity. U. S. Steel rate was 77 per cent, an increase of 5 per cent over the previous we k and more than 10 per cent over owput of two weeks ago. Rate in the correspond- ing week of 1929 was 87 per cent. Carloading of revenue freizht for the week January 18 totaled 847,353 cars, a decrease of 15,838 cars under the previ- us week and 84,508 below the like week of 1928. Compared with a year ago, all commodities showed decreases, largest being shown by miscellaneous freight, grain and forest products. Outstanding corponflnn news was the urprisingly favorable fourth quarter mowlflg of the United States Steel Cor- poration. Net earnings for the quarter amounted to $56,385,334, the largest for any corresponding quarter since 1917, nnd larger than any three months’ pe- s Iin year 1929, against $8.62 in 1928. | quarterly dividen uunn $180,965 in year to December 1, | Ammun Zinc, Lead & Smelting earned 46 cents in 11 months to No- vember sn 1’ Bangol ‘Aroostook Raflroad earned 310 Bl ln yelr 1929, against $6.94 in 1928. ton & Maine Railroad earned $7.15 Canadian_Pacific Railway net, after taxes for December, 1929, off 9.1 per cent; year 1929 off 155 per cent. Chicago, Burlington & Quincy Rail- road net December, 1929, up 20 per cent; year 1929 up 7 per cent from 1928. Chicago & Northwestern net Decem- ber, 1929, up 32.2 per cent; year 1929 up 12 per cent from 1928. Chicago, Rock Island & Pacific Rail- road earned $14.04 in year of un,’ against $12.89 in 1928. Colorado & Southern net December, 1929, up 46 per cent; year 1929 off 03 e | Colorado Fuel & Iron declares divi-{ dend of 50 cents on common stock. Last payment made May, 1921, Deere & Co. to split preferred and common stock 5 for 1. Declares stock ‘| dividend of 112 J}tr cent and regular f $1.50. Denver, Rio Grande & Western Rail- road net December, 1929, off 26 per cent; year 1929 up 22 per cent from 28. Fitz Simons & Connell Dredge & Dock earned $5.10 in year of 1929, against $6.42 in 1928, Fox Film receivership stayed for two weeks to allow preparation of reorgani- zation plan. Gamewell Co. earned $5.21 in seven months to December 3, 1928. Goldman Sachs ’I‘ndin: lndlcltefl deficit period January Deccm 31, 1929, was ‘95!104!5 ldl'.lon value of stock outstanding, l T pay- ment of 1}, per cent stock dividend on January 2, 1930, was $40.94, Illinois Central net December, 1929, off 8 per cent; vear 1929 off 4.1 per cent from 1928. i Inland Steel declares quarterly divi-| dend .of $1, placing stock on $4 annual basis, as against $3.50 formerly. i United States Steel earned $21.19 in year 1929, against $12.50 in 1928. United States Stores declares initial quarterly dividend of $1.75 on new first referred stock. ‘We Invite Applications for FIRST TRUST LOANS on Improved Property NEARRY MONTGOMERY CO.| AND THE DISTRICT OF COLUMBIA Perlods of 3, § or 10 Years BOSSEELPS] The Companies. Arlington Mills showed loss of $783.- | 487 in year to November 30, 1929.' THROUGH its ents, surance Company many Real Estate sntiafactory plan 809 15th St. N.W. Mortgage Loan Seek The Best the Metropolitan Life In- has been developed what we be- lieve to be the most desirable and Consult EAVER BRO REALTORS S Metropolitan Life Insurance Company National 9300 many correspond- has investigated 10=fl Plflfl’. There for the borrower. District 9486 Correspondent IJOANS onresidences H.L.Rust 1001 152 Street 9 104 103% 104 ll' _mu 108% 108% FINANCING AT LOW COST First Mortgage Funds (three years or longer) 1 3% in District of Columbia and nearby Maryland suburbs . . . Ample funds, lower interest, prompt approvals, valuable prepayment privi- leges=—and the competent counsel of over forty years’ experience in this field. * « EST ABLISHED 1889 = Loan Correspondent for *“The Prudential® and business buildings, Company National 8100 Real Estate Investments JAMES Y, PENNEBAKER Nat5201 1520 K St. N.W. ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. & La. Ave. N.W. Shares of Stock, $1.00 Each Payable Monthly James E. Connelly Jnnnr shu President Investment Securities Rea! Vllull- lnvlufl Income ourtland Nixon 1518 K St. N.W. National 1926 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 $21,000,000 14th & G Streets WADE H. COOPER, President SRR It’s the INVESTOR who wins financial independence The man who has the courage to go slowly but SURELY in investing . . . who chooses guaranteed FIRST MORTGAGES that pay the maximum of income consistent with sound secur- ity . . . usually wins financial inde- pendence. The FIRST MORTGAGES spon- sored by this responsible corporation issued to vield 6%% ai income-producing propert by our $3,800,000 resource: Available in deno: low as $250. Monthly payments if desired. Send for Booklet “The Success Plan” REALESTATE MORTGAGE & GUARANTY CoRPORATION Capital Resources over $3,800,000 24 JACKSON PLACE First Mortgages insure a steady dependable in- come—the most consist- ently reliable form of in- vestment known. FIRST MORTGAGE NOTES Yielding 6 1/2 Per Cent| Prompt Payment HANNON & LUCH 1435 K St. Nat. 2345 lm}#fl Assets If plan. earn. Councilor & Buchanan Certified Publie Accoupntants Wm. Gordon Buchanan (Telephone Directory Omisston) JOHN JOY EDSON, President WASHINGTON, D. C. 1018 15th St. N.W. """ FINANCIA Money to Loan wm of trast en real estate. 1t Stenographer —with investment house experi- ence, wanted by Washington branch of New York Stock Ex- change firm. Please write fully, giving age, education and previous employment. The salary is $100 a” month. Ad- dress Box 200-R, Star office. terest and ”r Tower Bulldtar National 611061116213 First Trust Notes Secured on D. C. Property S. Phillips & Co. Realtors 1501 K St. N.W, Natl. 4600 Convenient Denominations $250 Up Equitable Co-operative Bldg. Assn Organized 1879 50th YEAR COMPLETED WALTER 8. PRATT, Jr., Secretary Surplus & Profits .$1,705,130.78 +$5,662,549.55 Subscription for the 98th Issue of Stock Being Received You Want to Progress Financi- ally—SAVE The most successful method of saving is to adopt a systematic $2.50 Per Share Join the Equita- ble and save as you 915 F St. N.W. Mackubin, Goodrich & Co. Bankers Established 1899 Members New York Stock Exchange Baltimore Stock Exchange Associate Member New York Curb Exchange Private wires and telephones to principal markets 1508 H STREET 111 EAST REDWOOD STREET BALTIMORE, MD. A New Seating Arrangement IT your office with Mil- -waukee Chairs and note the increased energy and alertness of your workers. These modern office chairs are anatomi- cally designed...they fit the form perfectly, allow- ing a natural easy-sitting position that encourages hours of relaxed work. ors and clients are imm dmely impressed with the ap- propriate artistry of Milwaukee Chairs. They are made for mod- ern business—and they look it. We represent Milwaukee Ch exclusively in Washington. 'l‘l'lF. W.D. CAMPBELL COMPHNY BUSINESS FURNITURE AND EQUIPMENT Decorators of Commercial Interiors 1506 L St. N.W. Interest Exempt from all Federal Income Taxes State of Tennessee 4%s and 4%s Principal and semi-annual interest (January 1 and July 1) payable in New York City or in Nashville. Issued in coupon form in denom- ination of $1,000, registerable as to principal only. Tax Free in Tennessee Legal lnvu!mcnt for Savings Banks and Trust Funds in New York, Connecticut and other States General obligations of the State of Tennessee, payable from unlimited ad valorem taxes against all taxable property therein, 4)4s due December 1, 4és 44 4%s 43s » MATURITIES AND YIELDS April January January January 1931 1935 1939 1939 1945 8, 1, 1, 1, Guaranty Company of New York Washington Office: 811-15th Street, N. W. ‘Telephone: National 5815