Evening Star Newspaper, April 8, 1930, Page 11

FIN ANCIAL. THE. EVENING STAR, WASHINGTON, D. C, TUESDAY, APRIL 8, 1930. CONVERTIBLE BOND ISSUES ARE ACTIVE General Theaters Equipment u 6s and Other Similar Se- curities Lead Market. BY F. H. RICHARLSON. Special Dispatch to The Star. NEW YORK, April 8.—Convertible fssues again accounted for the bulk of | the trading in the bond market today. The early trend in this quarter Was dowhward in sympathy with the re- stocks, but later on the bonds Peaened ‘ae the Junior securities came ck. MAl:nnng the most active descriptions were the General Theaters Equipment 6s. These bonds. convertible into 30 shares of stock for each $1,000 prin- cipal amount of bonds. are selling en- tirely on their conversion privilege. with the price swings corresponding to fluctuations in the stock, but over a wider range. At one time on Monday they were up 12 points and at a new high They ranged today around the preceding close. Warner Bros. Pictures 6s, another amusement company obli- * gation, were actively traded, but with- out much change in price. American Telephone & Telegraph | 41;s came from the new high establish- | ed the day before along with the stock | but met good support on the decline There was not so much change in the railway convertibles, such as Alleghany Corporation 5s or_the Atchison 4!5s.| Texas Corporation 55 also a stock privi-| issue, were stea hglen the investment list United States; Government bonds were a shade lower. | but neither here nor in the first grade corporation issues was there any im- portant selling. Time money was more plentiful at the higher levels reached on Monday. Call money was in abun- dant supply. The bond market is suf- fering, however, not from any day to day changes in money rates, but from the public Interest in stock to the detri- ment of fixed interest bearing securities New issues were said to be meeting a good reception. This was true of the new Sydney Metropolitan Water, Sewer- age & Drainage Board 51, guaranteed by the state of New South Wales, of- fered at 9214 to yield 6.15 per cent. The Jargest new offering’of the day was the $30,000,000 Erie Railroad Refunding & | Improvement 5s, priced to give a matur- ity yield of 5.25 per cent. The outstand- ing Erie issues secured under the same | mortgage sold down to a parity with} the new offering. Washir;g‘ton Sto;l: Exchange SALES. Washington Gas 6s “A Washington Gas 6s “B Washington Rwy & Elec. at 88. s Potomac Electric 5!, pfd.—5 at 108%4. Pederal-American com.—30 at 32 Mergenthaler Linotype—10 at 10° Security Storage—8 at 1181y, The Carpel Corp.—50 at 2612, 25 at 26. AFTER CALL. Washington Gas—$500 at 102. Mergenthaler_Linotype—5 at 1071z Washington Gas 6s “B"—$100 at 103. Capital Traction 55—$2.000 at 96. Washington Gas 6s “A"—$1,000 at 10235, Lanston Monotype: Potomac Electric 108! Washington Gas 6s “A"—$200 at 101%. Bid and Asked Prices. BONDS. PUBLIC UTILITY. '—$1,000 at 102 —$500 at 104} 45—$3,000 50 at 117. 5'2% pfd—20 at Asked & & Telga. 4135 '33 Tel 418 39 P Cap! s Gity & Suburban 5 .. Georgetown Gas lst'8s. Elec. cons. 5 MISCELLANEOUS. b s Inc.. 61a B Fnaerpilt Hotel 8%as. . Ghevy crase Club Sias. 1 STOCKS. PUBLIC UTILITY. mer. Tel. & Telga (5) pital Traction Co. (7). ] Washington Gas Light (18} Norfolk & Wash, Simbt. (12 e 8025 y. & Elec NATIONAL BANKS, National Capital (14) District (8)...... Federal-American (10} Liverty (76)......... Lincoln (12)...7 1 " National, Metiopoiitan "{14)... 18).. Am Continen! Merchants' Bank (6). Natl Sav. & Trust (121) Tnion Trust (8g)... ‘Wash. Loan & Trust (i4). SAVINGS BANK. Bank of Bethesda (68) Commerce & Savings (1 East Washington (12)....." Potomac Savings New (i0). Sav. om. (1) @), FIRE INSURANCE. American (12) Corcoran (10} . Firemen's (8) National Union (15) TITLE INSURANCE. lumbia Title (6h) . . SR R Title & Inv. of Md. com.. MISCELLANEOUS. luseys2... Sales. Lib 3%, 26 Lib 18t 4% Lib éth 44 . 181 14 0 40 3 US4s1944.. Argentine 6sJu b" Argentine May 61 Argentine 6s Oct b Australia Australia Australia Austria T8 Belgium 6 Belgium 634s. .. Belgium 7s 1958 Belgium 18 Belgium %8 . Belgium 8s. Bolivar 78 6! Bolivia ts Bordeaux 68 Rrazil A48 192 Rrazil 6148 1927. Brazil 7 Brazil Canada 651931, . Canada 5s 1952 Chile 6= 80 Chile 63 61, Chile 75 1943 Christiania 6s Colombia 68 Jan 6 Con Pow Japan 78 Cuba bl Czecho Rs 1951 | Czecho 8= 1952 Danish Munic 83 A Danish Munic 83 B. Denmark 4% Denmark 6 Dutch East I 47 Flat 1s ex war 46 Finland 6% Finland 7a...... Framerican 7% French 78 French 1%s German EI P 6%s German 7s. . Ger Gen Eler 7: Greek s 1963 Hungarv 1% Italy 78 ... Italian Pub S 78 Iapanese 48 | Karstaat 6s 1943 Kreu, Mex 45 1904 asnd. Milan 6148 S Norwav #s 1944 Norway 68 1952 Ortent dev 6% 68 | Parta- Peru 6= 196/ Peru 6s 1961. Rhine Wat EP Rhine West 6; Rio de Janeiro 614 Rio de Jan fs 19468 Rio Gr Do Sul 8s. Rome 6% s Sao Sao Paulo 1950. . Saxon (PW) 78, Seine 78 42. Serbs Cr Slov Serbs Crot Slo Sofssons 6s. Sweden %8 Swiss 51 19 Swiss Confed 8 Toho El Pow 7a Tokio 63%m 1961 Uruguay Uruguav Vienna 6a 53. Warsaw 7= £3. Yokohama €s . MISCEL Abrama&Strans 83 Ajax-Rubber | Alleghany Cp Alleghany 6= 49 | Am Agri Chem 7% 33 Am Chain 6 Am Int Cor 648 45 Am Nat Gam6%s & Am Sugar Ref 6 Am TAT ev dtyn s Am Tel&Teleg 526 AmT& Teltrba AMTAT=t6s Am Tel & Tel 614 . Am Water Wks fs Armour Del 6% s At] Gulf fn 69 Atlantie Refin bs . Rell Tel PabaC. Reth Stael rf 68 Rklvn RAizon Chile Conper 6 Com Invest 5= 49 Com Invest 648 Con Coal MA 5 iConGas N ¥ 6%s Fede deral-Amer. Co. ederal-American pld. Lanston_Monotype (8). Merch. Tr. & Stor. com Meren. fr. & Stor, pfd. D) Mergenthaler Linotype (6n). atl, Mige. & Inv. pid. . rug St. pid. (8! tge. & G pld. com. Corp. Woodward & Loth. pfd (7 x ditydend. 31 extra ¥y2l2% ext 3% extra. h25 cents extra. . Durham Hosiery Mills. NEW YORK, Apr'l 8 ().—A quarterly dividend of $1.50 a share will be de- clared on the new preferred stock of the Durham Hoslery Mills, Inc., on May 1, D. P. Carey, president, announced to- day. This will be the first dividénd declaration by the company since 1924. 0il Output Decreases. NEW YORK, April 8 (#).—The daily average production of oil in the United States during the week ending April 5, th Oil and Gas Journal reports, totaled Gen Cable 6% s 47 Gen Mot Ae Cor € Gen Pub Rerv 6% Gen St] Cant 6% ¢ ondvear 6 rets Hoe & Co 8% Humble O & 111 Bell Tel Inland Stl 4 Kan G & €68 82 Lacled: Lorillard 6% 2,626,285 barrels, a decrease of 2,716 from the preceding week. V. 5. TREASURY BALANCE. The United States Treasury balance yope & Co 18t 4%8 nnounced today as of close of business . was. $348,121.641.69. - Customs re- a_’ 'II'I“H "'i‘%nflmm to date were $7,- 813/052.87.83. S Montana Pw del Nat Dairy 648 Nat-Radiator $3% New England Tel Bank of Chile 618 Denmark s 65 DE15%s Mch 2., German Bank 6s ‘3 Mexico 4s 10 asnt. . New So Wales 57. . 6s.. Orfent Dev'mt 63 63 Paris-Ly Med7s.. Rio Gr do Sul & 48 Toho El Pow 6n 33 ADbitibl Pa&P b3 53 40 Am Wrte Pap 6x 47 Armonr&Co 4348 39 Lou Gas & E168 62 Low 100 13 10113 101 19 1002 100 8 10414 107 4 114 High 100 16 10113 101 25 100 6 100 10 104 17 107 12 M7 FOREIGN 5 9 15 106% 98 102% 1084 112% 108% 115% 1104 5 100% 100% 1048 v Copenhagen 41 63 Copenhagen fsct. . & 1001y 104% 10214 102 9 914 998, 1084 n7% 122% 91% a8 1088, 103% Holland-Amer 6s. . Irish Free State bs. AR NN BN R DA BEEmnnn =l anvhanatnasSnuand & e o Shineyetsu 638 63. Utd Kingm 6%s 87 Unt S S Copen 6s 37 1960. .. LANEOUS 86 . AmChem 6%s v 48 Am Smit & R 18t br 12749191 5 86 103 2 1041 13 1031 31 6 11 10 Rethiehm Stl pr bs Bush Term Bldg §» Col GAF) 6 Mav 62 Cuban Am Sugar 8s 5 1 Humble O & R 6% 2 Kendall 6148 48 war 101% 1% 101 102w 100% 8 - 100 28 [on v o BONDS Received by Private Wire Direct to UNITED STATES (Sales are in $1.000.) 2:88 3 100 16 10113 101 19 100 3 100 8 Sales. i Phila & Read 6849 Fhillips Petro 648 Plilsbury F M 6e'¢3 Por Ric Am Tob Postal Tel & C 634 | Pressed Stl Car 58 Pub Serv Gas 4% Pub Serv G 448 Punta Alegre Pure Oll 5% Rem Rnd 6% war.. Richfield O11 68 ¢8. 1008 108 10t 101 RN 1004 2% 1001 105 1021y 102 94 91K 998, 108% 117% 1228 Sinclatr O1 Sinclair Ol 648, Sinclair O1 Sinclair Cruc 8in Pipe Line Skelly O11 6 %8. So Por Rico Sug South Bell Tel & Southwest Bel Stand 01l N J Stand O1l N ¥ ¢34 Sug Es Ortent 7, Tenn Cop 6n B 44 Tenn ElecPowss ¢1 Tex Corp cv bs 1944 Transconti Ol 6 %8 United Drug 6s 63 Utah Pow & Walworth Warner Sug 1s 41 Western Elec b8 Westn Union 6% Wickw Spen 1st. Wilson & Co 1at & Youngstn S & T & Atchison gen 43 17 Atch deb 4% 5 Atlantie C L 4 5 Ralto&Ohio gold 4s. 18 21 231 18 1 B&OSW Boston & Maine Bkiyn Elev. 63 Rkivn Manhat 6s. Ruff R & Pitts 44s. Bush Term con bs. Can Nat 4%s 'S Can Nat 4% s Can Natl 53 July Can Natl 6s Oct Can Nor 6%s. . 23 28 4 5 6 38 1 8 1 3 11 21 2 Cent of Ga 68 C 59 Central of Ga 6%, 2 1 24 60 " | 90 3 15 Chi MIISP&PacssTh CMSP& Pac adi5s03 Chi & NW gn 3%s. . 5 18 4 in 10 5 7 Duluth S S & At Erie 1st cons ¢s. Brieconv ¢s A. Erie conv 4s Erie Gen 4a Erfe is 1 25 oo EBen 5 1 [ 3 3 2 5 2! 16 Erie & Jersey 6 Fla Fast C 68 74. Fonda J&G 4% Gr Trunk st db Grand Trunk 7s Great Northn 1st 68 Gt Nor 6}s..... Gt Nor gen 7s. Hud & Man ref bs.. 111 Cent 4s 52. 111 Cent ref 4s. 111 Cent 4% .68 Int Rapid Tran Int Rap Tr bs stpd. Iowa Cent 1st Kan City Ft 8 ¢ Kan City Term Lake Shore 2 1 6 24 3 2 7 16 M St P&SSM b%s M St P & SSM 6%, MK&T istés ; 23 30 4 9 1 16 6 20 1 1 6 4 22222222 22222 006000000 _E:E:m: »»-?? ;-:;.p @2neRuil TxerEFrrsg 0 o g e e ag » 5 222222222 22 2 s High. Low. 2 114 114 114 9l % W 100 9% 100 106% 1064 106% 112 111w 112 102% 102% 102% 101% 101 101% 102 101% 102 105 1056 105 102 101% 102 104% 104% 104% 1034 103 103l 101% 101% 101% 634 63 63W 1004 100 100 101% 101 101 99% 99U 100% 100% 100% 97 96% 96% 100% 100% 100% 3 1021 1024 . 103% 103% 99% 9bl 95k 9b% i 5 b 104 1043 104% 103% 108% 108% 97 96% 96% 38 38 38 102 102 102 1068 106% 106% 104% 104% 104% 1024 10% 102% 9614 961 96 8T 8T KT 10074 1008 100% 100t 99% 100% 94 92% 93 9214 9% 91N 105% 105% 105% 1038 1034 10d% 10815 1091 1094 3w 35% 35 101 101 101 101% 101 101% 3 101% 101% 101% RAILROAD. 94k 931 934 139% 139 139, 89% 89N 931 93 98 100% 100 100% 104 103% 103% 10274 1027 102% 103% 103'x 103% 951 95ly 102% 1021 102% 1028 102% 102% 1165 1161 1168 1118 111K 111% &7 86% 87 103% 10314 1031 10012 100 1001 10474 1047 104% 928, 92% 92y 103 102% 108 100% 100 100 991 tep HoN 97 974 96% 9614 9216 9214 984 81% 801 0% 69% 69% 1021 102'2 1023 95 951 95 94 93% 93% 3% 2% 7% R0 80% 804 102% 102 " 102 100" T00% “100% 90 89% 89y 97h 9T% 9TH 941 94 94 91 E3Y 99 9715 6% 921y 981y 00 103% 103% 103% 981 98 98Y 108% 107% 108% 100 100 80 80 90 90 €3% 63% 63% 927% 92% 92% 104% 1044 104% 100% 100% 100% 95% 951 95% 98 101 101 13 113 18 B581% 584 - 584 33 33 33 106'¢ 106% 106'% 111% 111% 1111 95% 95% 95%, 110% 1104 110% 111% H1% 111% 981 984 98% 804 X0 %0 9T 9% 931 985 9214 987 | Lond 731 [ 7314 9014 33 9614 90 997% 101 101 100% 100 95% 95% 95% 98% - 98% 98% 58% 684 58% 95 96 95 e xcawver] ] ARKE WON O - FIGHT IN 3 WEEKS Chicagoafi Surprised Busi- ness World by Speed in Film Company Deal. ! BY JOHN F. SINCLAIR. | 8peciat Dispateh to The 8t NEW YORK, April 8.—When Harley L. Clarke, 46, of Chicago, with the pow- erful backing of the Chase Securities ration and Pynchon & Co. of New York, bought control of the $300,000,000 motion picture corporation under Wil- liam"Fox's domination, Mr. Clarke sur- prised even New York with his speed. Mr. Clarke is a Midwesterner with the drive, the tireless energy and the physical vitality of many of its leaders. He is a graduate of the University of Michigan. As president of the Utilities Power & Light Corporation, he control cated in such American cities as Indian- apolis and St. Louis and in such English cities as London and Birmingham. Earl of Birkenhead, one-time British secretary of state for India, and con- sidered a potential prime minister of England, retired from politics last year to become Mr. Clarke's English manager. Mr. Clarke's interest in motion pic tures was largely due to his activity as the president of the General Theaters Equipment Corporation, which he or- ganized two years ago, and which today has become the largest producer of mo- tion picture equipment 1n the world. Mr. Fox knew him because the two men had a divided interest in Grand<ur Films. Five weeks ago Mr. Clarke started fightin.¥ for control of the Fox corpora- tions. i looked difficult. But his close assoclation. with Electrical Research Products Co. which in turn is associated with the Ame. lcan Telephone & Tele- graph Co., gave nim the desired strength. So this public utility leader emerges as a new dominating force in the motion picture world. ‘When I mentioned to a close associate of Mr. Clarke that he is not in “Who's Who in America” his friend replied: “Clarke's biography is written in action, not in books But Mr. Clarke has one hobby. His interest in Shakeéspeare and the Chi- cago civic repertory is his answer. Yes, Halsey, Stuart & Co. comes out t. 1930, by North American News- aper Alliance.) Special Dispatch to The Star. BALTIMORE, Md., April 8 —Pouitry, alive—Turkeys, pound, 35a: ld to! 25a30; chickens, youni 3 horns, 23a38; old roosters, 17a20: ca- pons, 35a40; ducks, 17a30; old hens, 30a31; Leghorns, 20a28: Guinea fowls, each, 50a75: pigeons, pair, 30a35. Eggs—Receipts, 1290 cases; nearby firsts, 26a27, hennery whites, firsts, 271,a28; duck eggs, 38a40. Butter—Good to fancy creamery, pound. 36a: ladles, 31a3: store packed, 18al9; rolls, 25a28; process, 3113832, Vegetable Prices. Potatoes, white, 100 pounds. 2.25a2.90; new, bushel, 1.50a2.75; sweet potatoes, barrel, 2.00a4.00; yams, barrel, 2.25a 3.50; beets, crate, 2.75a3.00; asparagus, dozen, 1.5026.00; beans, hamper, 3.00a 5.00; cabbage, hamper, 3.00a3.50: car- rots, bushel, 1.40al. caulifiower, 1.75a2.25; celery, crate, 2.501 eggplants, crate. 2.00a2 tuce, basket, 1.00a2.00; 50a75; onlon: Kb St radishes, hampe: bushel, 2.00a3.5 2.75; turnips, hamper, 60a75 bushel, 1.00a3.50; grapefruit, box, a 5.50; oranges. box, 3.5028.00; straw- berries, quart, 20a55. Live Stock Market. Cattle—Receipts, 50 head; light sup- ply, market steady. Steers—Choice to prime, none; good to choice, 12.00212.75; medium to good. 11.00a11.50; fair to medium, 10.00a 10.75; plain to fair, 9.00a9.75; common to _plain, 8.0088.75. Bulls—Choice to prime, none: good to choice, 9.00810.00; medium to good, 8.5029.00; - fair to medium, 8.00a8.50; plain to fair, 7.00a8.00; common to plain, 7.00a7.50. Cows—Choice to prime, none; good to cholce, none;: medium to good, 7.00a 8.25; fair to medium, 6.00a7.00; plain to fair, 5.00a6.00; common to plain, > iiers—chol e oice to prime, none: good to choice, 10.00a11.00; medium to good. 9.00a10.00; falr to medium, 8.00a9.00; p! to , 7.00a8.00; common to plain, 6.00a7.00. Fresh cows and springers, 150.00. ‘Hogs—Receipts, 500 head: light sup- ply, market steady: lights, 11.10a11.3: heavies, 10.25a10.90; medium. 11.10a 11.35; roughs, 7.5029.35; light pigs, 10.25a10.75; pigs, 10.90a1l.15. Sheep and lambs—Receipts, 25 head: light supply, market steady; sheep, 2.00 26.00; lambs, 6.50a11.00. Calves—Receipts, 25 head; light sup- ply, market steady; calves, 7.00a14.00. 60.00a FOREIGN EXCHANGES. (@uotations furnished by W. B fiibbs & Co.) Nomina) gold Seliing checks value (or par). _today 1348665+ 34.86,% .91 hc 1395%2¢ 2. 11.22¢ 26 8¢ 26.8¢ 26.8¢ W, ZlOLY...... Copenhagen, crown. . Oslo, crown. Stockholm 2677050 26.77'3c 26:882c Low. Pere M 43481930 wi 19 9714 Pere Marq 1 2 PCCa&StL6sBT 1 Philippine RR ¢s . PortRL & P68 ¢ Port RL&P 148 100% 100 100 xgola 100% 100% 4 ' 88 88 8 107% 107% 107% 0 9% 100 9% 995 100 99% 99l 118% 113 113% 5 56 656 101% 101% 101% 9% 9% T9% YEN UB%. 98% 100% 100% 100% 107 107 107 1074% 107% 107% 99% 100 97 97 107% 107% 107% 107, 106% 107 101% 100 101% 102% 102% 102% 85% 85% 8Bl 9% 9% 9% 93% 93% 93% 132 131 31 105% 105% 106% 4% 4% 89 4% 94 67 91% 90% 91% 113% 13 106% 106% 106% T 90% 90% 90% T 10 12 147104 * 103% 103% 108 108 108 109% 109 109 Readine gen 4348 A RIATk& L 4%s St L IM&S kn Aveadsbs . Tol St L& W 48 50. Union Paeifie 18t 18% | 113% | 100 7 103% 103% 7 98% ‘West Shore 48 61... 10 39% The | consumer’ demand in rural sections RETAIL SALES BETTER IN DALLAS DISTRICT Reserve Board Reports Gain in Demand in Larger Centers in Texas Bpecial Dispateh to The Star. DALLAS, April 8.—A noticeable ex- pansion in the demand ior merchandise at retail in larger centers, increased production in some lines of industry and a material improvement in the ag- ricultural situation were the outstand- ing_developments in the eleventh Fed- eral Reserve district during February. Department store sales, contrary to the usual seasonal trend, reflected & sizable increase over the previous month and were only slightly less than in February a year ago. The production and ship- ments of cement were materially larger than in either l?e previous month or the same month fast year, and the pro- duction, shipments and new orders for lumber were larger than in January. While the valuation of bullding per- mits issued at principa! citles was con- i Is | siderably under that of a year ago, it Properties worth nearly $400,000,000, lo- | Was greater than in the previous month. The distribution of merchandise wholesale, however, continues to lag, s till at a low level and retallers are showing no disposition to increase com- mitments beyond definite requirements. ‘The long period of favorable weather and the rapid progress with agricul- tural operations have created a more SECOND TRUST NOTES We have for sale secomd trust | motes that are liquidated by monthly installments and on whick payments have been made for a lemgth of time sufficient to make them seasomed motes. They are made by home owners and secured om small residence properti. the District of Columbi These Notes Are Sold at a Dise: E Complete Information Upon Write ten Request or Persomal Call. . HARRY A. KITE, Incorporated 1019 15th St. N.W. IMPROVED PROPERTY Reasonable Rates B. F. SAUL CO. 925 15th St. Nat'l 2100 A FIRST . MORTCGAGE NOTE —will still be paying the same satisfactory rate of interest when many of the alluring investments of higher, perhaps tem- porary, yield are only an unhappy memory to the short - sighted investor who puts profit ahead of safety. We Offer an Excellent Selection at Safe 6 1/2 ¢7o Prompt NNON optimistie feel a preparation ol}nt comple becomin, railway station here the 8ol ted and planting operations are gl Plan $10,000,000 Union Station. MEXICO CITY, April 8 (A).—Plans are being laid for a $10,000,000 union o LR FINANCIAL, farmers. 'fl;e POTATO MARKET is practicall z 4 April 8.—(United States fculture) —Potatoes: 112 406, cars; total United States shipments, 607 cars; trading slow; | Reasenable Rates zllrkn ’w.eol-k Dwueonnn sacked roun Courteous Treatment 78; Cecasional fancy, 280: | THOS. E. JARRELL CO. ;(&mewh ucnd“dmuna ;mr:a. REALTORS .60; 0 sacked russets, 3.603.75. Texas sacked Bliss Triumphs, 4.50. 721 10th Street NW. Nat'l 076! IN NEW ENGLAND THE ASSOCIATED SYSTEM SERVES 1 in 20 ELECTRIC CUSTOMERS AND 1 in 10 GAS CUSTOMERS 1=~ e cmecmem g Shaded areas served by the Associated Systen—W orcester, Cambridge, and New Bedford, Massachusetts, important industrial and commercial con- ters; Portsmouth, New Hampshire and 90 other New England commumities. 10% of the Nation’s Manufactures from 2% of Its Area New England, covering 2% of the nation's area, produces 10% of its manufactures. Of the 348 separate industries listed in the last United States census, 217 are represented here. Thrift means wealth which in turn means buying power and markets. Per capita savings in New England in 1929 were $570 compared with a national average of $235. With an uninterrupted industrial growth of 250 years, New England has a greater number of individual craftsmen than any other comparable area. Here abundance of skilled labor and ample power, combined with location on the Atlantic seaboard close to the great European and Amer- ican markets, provide numerous advantages lfor industry. A report regarding the business opportunities in this territory will be submitted withowt obligation. Write to our industrial Department. Associated Gas and Electric System Serving 1,368,000 customers in 26 States, the Philippine Islands, and Canadian Maritime Provinces. i 1435 K St. Nat. 2345 JOIN THIS PROSPEROUS FAMILY 170,000 INVESTORS $33,000,000 RESOURCES tima.proved Plan for bullding tortunes ranging from $1,000 on send me Meoney.” INVESTORS SYNDICATE FOUNDED 1894 q;-IE history of Indian Territory Illuminating Oil Com- pany is a story of successful prespecting and develop- ment in the production of oil and natural gas. Even before the recent discovery of its greatest find, the Okla- homa City pool with its record-breaking gushers, the Com- pany had established and maintained for over twenty-nine years a reputation for judicious selection of land for dlfllm“ o Three years before the incorporation of the Indian Territory Illuminating Oil Company in 1901, a prede- cessor company was b.ying in the Osage Indian Reserva- tion a large block of oil and gas leases. The Company is still adding to its reserve acreage and has just acquired very valuable properties of the Foster Petroleum Corporation s0 that today, directly or through subsidiaries it has ap- proximately 1,122,000 acres of oil and gas leases, about 340,640 acres of gas leases and royalty interests in 382,000 acres. These reserves, which in many cases are in fields now producing large quantities of high gravity oil, will enable the Company to take full advantage of the tremendous demand for petroleum which is inevitable in the future. The same capable, clear visioned management which has built up this strong petroleum reserve has placed the Company in an enviable financial position. As of October 31, 1929, consolidated current assets were over $20,300,000 as compared with current liabilities of less than $6,100,000. Surplus on that date amounted to $20,200,000. Through the purchase of Indian Territory IHuminating Oil Company Non-Voting Class A stock, you can share in the future which has been built into this strong oil and natural gas Company. Mail the coupon below foe furthee information. INDIAN TERRITORY ILLUMINATING OLIL C?MPANY (A Cities Service Subsidi Henry L. Doherty & Co.. 634 Southern Bldg., Washington, D. C. . Please send me a copy of yeur beokiet “The Story of Indian Territory Illuminating Oil Compeany.” Neme. tesssesscessectstessetasesssnisons Address......ooviniene seasssscesascessecssesnns