Evening Star Newspaper, June 4, 1930, Page 13

FINANCIAL -STOK PRICES GAIN AFTER EARLY DROP Notice—All stocks are aucptlsfl those iedmu by which sho: ~Prev 1930~ 0Oils and Specialties Advance. | "“'* List Hardens in Early Afternoon. BY CLAUDE A. JAGGER. Associated Press Pinancial Editor. NEW YORK, June 4.—Indications of a stiffening of steel prices appearing to- day quickly checked the bear drive in the stock market which was inspired yesterday by the report of a sharp cur- tailment of production by United States Steel. Selling continued during the first few minutes of trading, but the market soon turned firm and gains of a point or two were common among important shares by afternoon. A few specialties made wider gains. The weekly steel and iron trade re- views, while indicating that increasing quict may be expected until about Au- gust, were distinctly more cheerful than they were a week ago. Iron Age pointed to an advance of 50 cents a ton in heavy meiting scrap at Pittsburgh as a turn upward for the first time since Febru- ary. Iron Trade Review said a sag in alz iron pricés at Chicago was more an offset by firmer tendencies in semi- finished steel at Cleveland, Pittsburgh and Youngstown. This publication's price index for iron and steel showed a gain for the first time since December. The commodity situation remained unsettled and confusing, however, and tended to check any marked revival of speculative activity. Several sugar Tefiners cut their prices one-fifth of a cent for the second time in a fort- night, bringing the price down to 4'; cents a pound, the lowest in 10 years. Another large sugar producer, Punta Alegre, went into receivership. The silver market remained demoralized, with subsequent unsettlement of Far Eastern trade and the cotton markets, Oils developed notable strength, re- flecth e American Petroleum Insti- tute'’s s showing a substantial de- eline in stocks of gasoline last week, and rumors of impending increases in gasoline prices, Also several mergers of ofl companies are understood to be in the negotiation stage. The crude goductlon problem, however, continues cause some uneasiness. Crude out- put last week showed a moderate gain. Corporation News NEW YORK, June 4.—The following s today's summary of important cor- ration news prepared by Standard tatistics Co., Inc., New York, for the Associated Press: News Trend. Midweek trade and industrial news is favorable. The United States Steel Cor- P ion reduced production 5 per cent past week. This is one of the sharp- est reductions in output ever recorded. Operations for the entire industry currently at about 71 per cent of ca. rcizy against 7315 per cent a week ago. n 1028 average was 95 per cent and in 1928 week 79 per cent. Revenue freight car loading for the week of May 24 to- taled 931,472, an increase of 1,468, cars over previous week, but the lowest of any like period since 1925. Compared with the 1929 week decrease amounted %0 130,616 cars; against 1928 period, de- cline was 89,931 cars. Corporation news again included several important divi- dend announcementy. Lehman Corpora- tion and Tennessee Products declared initial dividends, while Goldman Sachs Trading. and Webster, Eisenlohr an- nounced the omission of payments due July 1. The Companies. Associated Gas & Electric declares initial interest payment on $8 allotment certificates. Baltimore & Ohio R. R. shop work- ing hours reduced to 40-hour week from 44 hours, effective Saturday. Container Corporation of America ex- tends expiration date warrants llhchtd to 5 per cent debentures to 1935 lowers subscription price to $30 lhll’e between June 1, 1930 and 1933, and thereafter $42.50 a share. rie R. R. to replacs steam_engines 1 gas-electric motors for 74 com- m passenger trains. Cn “man Sachs Trading passes quar- ';rll "wck dividend of 112 per cent due uly Hudson motor car May shipments to- taled 12,779 units, 5 months’ shipments were 81741, against 194,570 in same period 1929. Island Creek Coal May output off about 27 per cent from year ago. International Telephone & Telegraph, Rumania rejects contract for o?entlon of telephone system in return for loan $20,000,000. l.ehmln Corporltlon declared initial quarterly dividend of 75 cents on com- mon stock. Book value June 2 was $101.41 a share. National Bellas Hess May sales off 29.1 per cent; 5 months, 28.7 per cent below year ago. Nutionn! Cash Register May sales 81 Pper cent above April. National Railways of Mexico reorgan- {zation committee recommends rehabili- tation of system at cost of $50,000,000. Pickwick Corporation earned $1.02 on average outstanding shares in 1929. Prairie Pipe Line May deliveries off 6.1 per cent; 5 months, up slightly. ‘Tennessee Products declares initial dividends of 25 cents cash and § per eent stock on common shares. United Aircraft & Transport current g&;‘llkd orders aggregate about $9,000,~ GRACE REFUSES TO TELL BETHLEHEM SALARIES By the Associated Press. NEW YORK, June 4—Eugene P. Grace, president of the Bethlehem Steel Corporation, refused today to tell attomneys for minority stockholders of the Youngstown Sheet & Tube Co., op- = ing a merger of that company with hlehem, how much he makes in ry or what salaries principal execu- | ves of the Bethlehem company are pal The Youngstown.stockholders, includ- ing Cyrus Eaton, contend that Bethlehem has various qfficers who re- ceive willion-dollar salaries, and that ny Youngstown Sheet & Tube stock- | holders who voted for the merger would not have done so if they had known | of these salaries. | Making a deposition here today in fhe action of the minority group in Ohio courts to prevent the merger, Grace declared that negotiations for the Bethlehem-Youngstown merger were in- | itiated by James A. Campbell, president | of the Youngstown company, last De- | cember, Merger llumor Denied. NEW YORK, June 4 (#).—Sources elose to the management of the Beth- lehem Steel Corporation deny any knowledge of rumored _negotiations toward the acquisition by Bethlehem of Pickands, Mather & Co., with extensive ore properties in the Middle Wefl! NEW YORK BANK STOCKS| NEW YORK, June 4 (#).—Bid and asked prices on the stocks of leading New York national banks and trust companies follow: National Banks. ?Ig Agked nk of America 4‘- 32 1% 18 156% 26 214 914 361 993 1561 147 1198 9% 141 334 55% 697 26% 269 124°% 9 1% 811y 53% 374 29% 81% B 242'% 107 175 65'% 51% 37 263% 10% 58% Y 38 16 122% 8414 110% Bdly 34 68 92 b7% 56% 90% 50% 12 5 244 22% T8 30% 33% 43 115 16% 14% 88 89% T4 43 110% 81im 48'3 110 1us b4 112% 114 1% 30 5% 226% 624 34u 28% 8625 182 T9% 60 304 oal. ut. 6T 2414 820s 17% 187 647 301, 40% 1% 147 33 864 22 93% u7 7 2 4 121% 14% 19% u;. ! 155 | 181 288 271, ui' | 43% 27% Dunhill Intl (34). 88 e BTh 145% 25% 266% sold one hu 'llh“!d‘ellhhul‘ll“‘ lots 8tock Sales— Low Dividend Rate. | A800 tieh. Low 64% AbILILIP&PDf(6). 3 81 81 45 Abraham Stra; 4 58 284 Adams Exp (1.60) 31% 23 Adams Mills (3).., 22 Advance Rumley pf. % Ahumada Lead..... 118 Air Reduction (3). S1S e eV Suie ) < 1% Ajax Rubber, 6% Alaska June 9 23 Allegheny Corp 83 26% 26% 94 Alleg Cpw 340 w 94% 94% 95 Alliance Reaity 1315 1008 100 100 % Allled Ch& Dyeins) - ¥ 312 310 Allis-Chalmer 61% 61 Amerada Corp 105 815 S0x Am Agricul Chpf... & 30% Am Bank Note (43), 1 90 Am Bank Note pf (3) 108 65 45% 121 &% Am Brown Bov Klec. 10 20 60% Am Brcwn BE pf(7) 80s 79 . 78 117% AmCan (4)....c00ee 127 147% 1453 140% Am Canpf (1)...... 2 146% m-. 2 AmCar & Fdy (6)... 3 b4 99 Am Car & Fdy pf(7). 951 54 AmChainCo 3).... ~ 3 5% 36% Am Chicle (12%)... 45% 16% Am Com Aleo ni 60) 17% 18% Am Encaustic (1)... 35 Am European Secur. 65 Am & Forn Power. .. 95 Am&Forn Pwr 2d ptf. 19% Am Hawailan SS (2) 55% Am Home Prod(4.30) 35% Am Ice (14). 83 Am lce pf (6). 36% Am Internat! (3). 2 Am La Fr & Foamite 5415 Am Locomotive (4).. 2 7 112 Am Mach & Fy p((’l) ao- usn 116% 394 Am Metal (3). 40 40 65 Am Nat Gas pf (1).. a0 90% 90 'z Am Plano 10 1 77 Am Pwr & Lt (31) 9 1085 10° 20 Am Ra&StaSan 1%. 156 31% 318 67x Am Rolling Mill(n2) 16 69 68% 46:x Am Shipbldg (new). 2708 66'c Am Sm & Ref (4). 1383's AmSm & Ref pf (7). 24% Am Sol&Ch cv pf(3). 46 Am Stores (2) 60 Am Sugar Re 12% Am Sumatra 2 % il 75 165% 151% 14 29% 28% 7 1% 14 6% 6% 26 77 61 44'; Am Brake Shoe(2.40) 2 llfl“ Am Br Sh & F pf (7). 108 121 %v. ns’«. 2 494 49% 2 63 63 8 14% 13% 23 231% 230% 6 268 268 16 264 262% 40s 118% 113% 22 116% 114% 2 9 % 10% 8814 Am Water Wka (n1) 5 Am Writ Paper ctfs. 8 AmZinc Ld & Sm.... 5214 Anaconda Cop (1)... 34% Anaconda W&C (3). 21% Andes Copper (3)... 2214 Archer-Dan-M (2) T4% Armour of Del pt(7). 5% Armour of 11l (A)... 2% Armour of 11l (B)... 55 Armour of Ill pf (7). 33% Asso Appl ind (4)... 216 Atch To& S Fe (10) 102% Atch To & SF pf (5 161 Atl Coast Line (110). 59 Atl Gulf&W 1pt (5). 464 Atl Refining (12).... 31% Atlas Stores (n1)... 150 Auburn Auto (34). 4% Autosa, 37 Auto-Strop Saf R(3) 4% Aviation Corp of Del 24% Baldwin Loco (1%). 7% 27% 109 Baldwin Loco ptf (1) 100s 110% 110 1304 Balto®& Oh1o (7).... 7 L11% 111% 78% Balto&Ohlopf (4).. 5 8213 8214 107 Bamberger pf (634). 10s 108 108 63 Bang & Aroow (3%4). 1 30 80 201 Barusdall, A (2). 31 21% 6% 59% Bayuk Cigar (3). 2 59 59 671 Beatrice Cream ( 3 8 88 327 Bendix Aviation (2). 2 4z 42 31 Best & Co (3).. . 17 53% 53 em Steel (6), 56 941z 98% lem Sti pf (1) J 131%° 131% Knoz (1%4)... 39 38y 477 Bohn Al & Brass (3). H 54 b4 60% Borden Co (k3).. A3 894 884 32% Borg Warner (3).... “ 4 575 37 95 Boston & Maine (4).. 2 100 100 3 Botany Con M (A). s il S 13% Briggs M1g Co. . 1 13 Brockway Motor Trk 63 Bklyn-Mannat (4) 134 Bruns-Balk-Co! 14's Bruns Ter & Ry 8 33% Bucyrusev pt (3%). 107% Bucyrus ptf (7).. « 308 113'% 113% 95 Budd (EG) (1)ieeee 2 1l 111 814 Budd Wheel (1)...00 2 13% 130 71 Buft & Susqu . 2 89% B9 77 Buft & Susque et: 1 B9 B9 29% Bullard Co (1.60) M1 50% 4mie 264 Bulova Watch (3)... 49 31n 29 99 Burns Bros (A) (3).. 37 Burr Add Mch (1)... 2 4l% 41% 36 Bush Termni (3%).. 2 42 42 100% Bush Term deb (7).. 50s 106 100k 109% Bush T Bld pt (7)... 10s 114 114 2% Butte Superior Z 2 % Byers (A M).. 50 99% 9% 109 Byers (AM) pf (7) 30s 11z 112 66% Calit Packing o 2 69% 9% l 226% 224% 4 106% 106% 2170 170 2 60% 60% 39 43% 425 5 35 34% 159 5! 28 21% 194 T0% 19% z 2 21 2 89% 39% 16% Calum.l&l-l.e\ll%) 19 Campbell Wyant (2) 57% Canada Dry G A (b, K (684 187% Canadian Pacifici10) 15 201% 199% 495 Can Pacific(new)w.lL 20 o0% 49 2413 Cannon Mills (2.80). 18% Ci 192% Ca 1156 Ci b4 12! 288% z1n .. 808 130 130 Catepillar Trac (3%) (2 51% Cerro ae Fasco (6) 25 Certain-teed pt 36 Checker Cab (4. 201% Ches & Ohlo 1]0) 6315 Ches & Ohio Corp 11% Chi Great Western 212% 67% 13% 13% 4T 47 19 184 S1% B0 ¥l B1% 214 20% 2 A9 A 7 113% 113w 5 20m 20 2 66% 64w 30% Chi Mil StP & Puc pf 79% Chicago & N W «6).. 17% Chi Pneu Tool. . 494 Chi Pneu T pf (3%). Chi R 1 & Pac «7)... 30 Chryster Corp (3)... 40% City lce&# (k3.60). . 945 City lco & F' pf 634). 100- T City Stores (50 2 133% Coca-Cola (6). . 11 186% 182% 59 Colgate-Pal-P (3%4). Z 1% 97 Colg-Palm-P pf (§).. 100 14% Coliins & Alkman. 2% 2T% 86ls Col Fuei & lron (3).. 49 o7 66% 69 Col as & i 12) 138 3% 82l 104% Col Gas & KIpf A(6) 3 109 109 23t Colum Graph (az8c). 178 27% 6 128): Columbian Caiu 116) 10 159% 156 23% Comm Credit «).... 1 a0k 30% 22 Comm Cred pt B (32). 26l 25 #6% Comm Inv LT1g1.60) Al 41y b2l Com inv L' cv pt(es) B3 w2y 25% Comum Solvents (31) 30% 29 12% Comwith & Sou(60e) 17% 17 99 Cmwith & Sou pt «6) - 11 104 103% 13% Congoleum-Nairn... 21 14% 144 40% Consol Clgar (1).... 10 40% 40 76w Consol Cigar pf «1).. 108 88 67 Consol Cgi pr pf 6% . 10s 73 15'% Consol ¥ilm t%),.... 2 24 23% 96% Consoi Gas N X (¢). 181 131% 130% 99': Consol Gas NY pf(8) 2 103 103 1 Consol Textil 1% 1w 4% Container(B). 6 19% Contl Ot of Del, 27% Contl Snares (1) ¥7% Corn Prod (13%). 140 Corn Prod pf (1) 244 Coty. Inc (k3). . 20 26% 26% 25's Cream of Wht(12%) b 32% 32% 104 Crosley Radio (1)... 1 184 18w 75% Crucible Steel (kb).. 1 76% 76l 110 Crucible Steel pf (7) 408 116 116 3% Cuba Cane Products. 2 ' 3% 3% ¥ CubaCo. 1 1% 17% 1 Cuban Do 1o0a% 1 41% Cudany Packing 1 43% 4% 114’ Curtis Publisn 'l('“ 3 119% 119% 6 Curtiss Wright Corp 387 9% 84 12 Curt WrightCorp A. 177 12 10% 28% Davison Chemical, 6 34% 34 24 Deere pf (new). 24 121 Del Lack & Wn (17). 126% 161'a Delaware & Hud (9). 173 60 Denver & RG W pf.. 68 139 Diamond Mateh (8). 1 219% 219h 6% Dome Mines (1).... 14 9 17 Drug Corporatn 26 83% A!u 6 34 34 41 130% 120 46 108% 106% 108 144% 144% 1124 Du Pont de N (14. 17 Eastn Roll Mill(h12) 176% Eastman Kodak (18) gt ndred-sha letter s (658) THE EVENING STAR. WASHIN NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. re fots ml) only. Glose. Glose. 81 81 58 1 60% 31% 31% 151% 20% 20% 1% 1% 6% 6% 261 26% 94% 94%s 100 100 312 312 158 46 121 k] 7% 147 146 um 1«'« 54l 53% 95% 8 58 116% 115% 1 1 108!y 108 31% 69 71 130% 138% 27% 28% 491 49 63 63 13% 16% 2301 231% 268 260 263 263% 113% 114 116% 1156% 9 8% 10% 11 58% 59u 35 35 26% 290% 23% 24 w784 6% 6% 3% 3% 65 63 40 40% 223 224 1061 106% 170 170 60% 60% 43% 43 85 36 164 163 % 2T% 2T 110 111 111% 112 82 82% 108 108% 80 804 27% 26% 59 60 88 ¥T% 42 42% 534 58 93% 934 131% 131% 39 394 54 BB% 89 88% 37 5T 100 98 3 3% 220 22 19% 20 0k 69 20 ‘20 21 20% 39% 39 113% 118% 1% 11% 13 13% 89 88 4lly 420 106 114 4l 43% 104 114% 2% 99% 984 112 111% 69% ©9% [ 200 50 44 2128 212% 67T 67% 18% .13% 4T 46T 18 19% S1% 30 Bl Bl 20% 21 W 9% 1184 1163 20l 204 64k 66% 3 34 4“4 43 9a% Y%A 9 9 1851 182 62 62% 100 9% Zi% 28 67% 67 B3 3 109 109% 26% 2T% 169%s 1564 ' 200 29% 1% 17% 108% 103% 1w 14y 400 42 ¥ w8 T8 T0% 24 24 131 131 103 103 JLEE T on 25% M 108% 1064 144% 144% 264 26% 32 33 184 184 T6% 761, 114% % 3 124 1% 1% 1% 43% 43y 119% 120 8 9% 1y 12 344 36y 24 24 126% 1264 173 173% 68 68 219'4 216% 84 R!Vn B3y 34 34u 1301 129% 19 19 19 18 39 245% 2424 246 243% ~Prev 1930.~ High 127 7% 114% Stock and Low Dividend Rate. 120% Eastman Kod pf 244 Katon Axle & 8 (3) 81 Elec Auto Lite (¢ Bl Pwr & Lt (1). Elk Horn Coal pf 101'5 Endicott-John pf (1) Elec Storage Bat (5) Y Eng Pub Sve of (6).. 945 Eng Pub Sve pf(5%) 39% Equit Office Blds (3) 434 Erie RR.......... Erie R R 18t pf (4) Evans Auto LAg 2% . Exchange But (1%).100s + Fairbanks Morse (3) 18 59% Fed Lt & Tre (31%). 1 Fed Min & 8m pf (1) 1 524 Fed WaiS. A cez.40) 12 66 Kid Pho Fire 1(2.60). 1 Firestone 'rum 0844 Bl Sales— Add 00 High. Low 10, Rubbe: Fisk Rubber 15t of.. 170- Flosheim Shoe A (3) 1 Fourth Natl In 4 Fox Film (A) (4). Freeport. Tex (15, Gardner Motor. Gen Am luves Gen Am Tnk Car( Gen Asprait (4) Gen Bronze (3) Gen Cable....... Gen Cabie (A) (#)... Gen Llectric (1.60) Gen Elec spec ($Ve). Gen Food Corp (3).. Gen Gas&EL A(e30). Gen G & Kl pt A (7). Gen Motors (13.30). . n Motors pf wi (5) Gen Motors pf (7). .. Gent Qut Adv (2)... Gen PublicSve (06). Gen Stee, Cast pt (6) Gen Theat kquib vie Gilletie Saf lias(nb) Glidden Co (2). Gobel (Adolf). Gold Dust (2%). Goodrich (BF) (6).. Goodyear Tire (8). Gotham Silk Hosiery Gotham 8 H pt (7).. Gould Coupler,... Graham-Pa Graham-Ps Grand Union. d Union pf ¢ Granite City Stl (4). 4 Grant (W T) ¢1). Grt North pf (5 Gr Nor ctfs Ore (a% . Grt West Sug (1.40). Grt West Sug pf (7). Grigsby Grunow. 2 Guantanamo Sugar. . Hackensk pf A(1%). Hahn Dept Stores. Hall (W F) Pr Co(3) Hanna pf (new) (7). Har Wkr Ref (12%). Hayes Body..... Hercules Pow pf (7). Hershey Choc 16). .. Holland Fur «et2%). Houdatlle Her Bi3). Househld ¥i pf 13% . Houston Oil (b10%). Howe Sound (14%). Hudson Motor (6)... Hupp Motor Car (2). Ilinots Central (7). . Liinois Cent Iy In(4) Independ Uil & G13). Lnd Motor Cycle. indian Refining Indian Refining ret Indus Ray (b5 % stk) ingersoli-Rand (16). Inspiration Cop (2) insurance Sh t4b¢) Interbor Rap T c.0.d. Interiake lrom (1). Inti Agricultural. . Intl Agricul pt Intl Bus Mach (n6).. Intl Carriers, Ltd % . Intl Combustion. Intl Comb Eng pf. .. Int Combust pf ctfs. Intl Harvester (23§). 4 Intl Hydro El A (e3) Intl Mateh ptf (4).... Intl Mer Marine (1). Intl Nickl of Can(1). Intl Nick. Can p£(7). Intl Pap & Pwr (B).. Intl Pap & Pwr (C) Intl Print Ink pf (6). Int Rys Cen A pf (6) 10s Intl Salt (8) .. 18 intl Tel & Teleg (2). 81 Inter Dept Strs (3).. 3 Investors Equity(2). Island Creek Coal(4) Jewel Tea (t4) Jordan Motor Car. K C P&L 1st pf B(6).110s Kan City Sou pf (4). Karstadt (R) (1.02), Kayser Julius (2%). Keily Spring Tir : elvinater Corp. Kennecott Cop (3). inney (G R) (1) Kolster Radio 't Ph Ch ( e(SS)Co(1 Kreuger & Toll 1.60.. Kroger Gr&Bak(n1). Lambert Co (3) Lehman Corp (3) Lehn & Fink (3). Libbey Owens (1) Ligg & Myers B(15). Lima Locomotive Link Belt (2.60) . Liguid Carbonie (¢). Loow s, Ine (3) Sescenss Ludlum Steel (2)... Mac And & F (12.85). MckKeespt T P1 (15). MciKesson & Hoh (2) ueks (6). ... Macy (RH)&Co(nt3) Madison Sa G (1%) Mallison & Co Mallison pf (7 Manat) Sugar pf. Man Shirt (2). Marlin-Rock (t4%).. Marmon Mot (h50¢). Marshall Fleld (2%) Mathieson Alkil (2). May Dept Strs (n2).. Melville Bhoe (2).... Mengel Co (2). Metro-Gold pf(1.89). Mexican Seaboard. Miami Copper (4). .. Michigan Stl im2%) Mid-Cont Pflm'll).. ( % EX TSN M StP & SSM Isd Mo Kan & Tex (1). Mo Kan & Tex pfi1 Missouri Pae pf (6).. Mohawk Carpet. .. Monsanto Ch (g14). Montgom Ward (3). Moon Motor: Mother Lode 140¢) Motor Meter G & El.. Motor Wh Murray (b2%stk). Nagh Motors «6). Nash, Chat&StL (1). Nati Air Tran Natl Bella He: ) 14235 Natl Biscult pf (1).. b3% Natl Cash Reg.A(T4) 45% Natl Dllr! (12) 29 Natl Distillers 116 Natl Lead pf(B) Nat) Pwr & Lt (1)... Natl Supply (5)... d Nati TeaCo (2) ... Neisner Bros (1.60) . Nevada Copper (114) Newport Co (A) (3). i) 49\ 49 N'Y Central (8) 174% 178% " (Continued on. Page 14) TON, Close 1267 126% 126' 49 174% D. C., WEDNESDAY, TI_' NE - 4, 1930. Monoy to Loan hog X Ky Ko Specializing in Moflpgu on Investment Properties JAMES Y, PENNEBAKER Nat.5291 1520K REAL ESTATE Made at Low Interest Rates TYLER & RUTHERFORD lcatio ited o Equitable Organized 1879 JOHN JOY EDSON, Assels. ...o.oovennnnn Subscription for 50 per Share Cuast SecurrTiEs CORPORATION Tue Cuase NaTionaL Bank announces the removal of its Washington Office 922 FIFTEENTH STREET, N. W. doed’ of trust on resl estate. and_commission. Joupll 1. Weller 4%, 7%n .$5,723,083.61 First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc | L & Trom & ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. & La. Ave. NW. ® 84th I-':-o a Stock Now Open St. N.w. LOANS Money loaned to members on easy monthly payments James E. Connelly President James F. S Secretars Co-operative ldg. Ass'n WALTER S. PRATT, Jr, Secretary Surplus & Profits......$1,755911.57 the 99th Issue of Stock Being Received President Save Systematically! Sane, vesting eventually makes conservative in- a nice little estate. Come in and let us explain! 915 F ST. N.W. Over a Third Affiliate of of a Century Without a of the City of New York Loss to MarsHALL O. Exnicios District Sales Manager B B <~ National 2100 Telephone National 8166 THERE . IS 200,000 Shares INANCIAL *an | We Will Consider and Act Promptly on Your Real Estate Loan Application Give us an oppor- tunity to assist you Consult EAVER BRO REALTORS 809 15th St. N.W. District 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company MORTGAXGES PROFITABLY EMPLOYED MONEY —and it is fully protected—if you invest in our 6% FIRST MORTGAGE First | Mortgages are recog- nized the country over as loss- proof investments—at the same time making. liberal return. May be purchased in amounts from $250 up. SAUL CO. 925 15th St. N.W. NO SUBSTITUTE FOR SAFETY Electric Bond and Share Company (A New York Corporation) Cumulative $5 Preferred Stock a whole or in part upon 30 d notice at any time at $110 per share and accrued dividends, upon affirmative vote of & majority of outstanding Common Stock. Dividends are payable quarterly, February 1, May 1, August 1 and November 1. For further particulars concerning the Company and its cumulative $5 Preferred Stock, we refer to the letter of Mr. C. E. Groesbeck, President of the Company, which we summarize as follows: Business a company of the Electric Bond and Share Company is a consolidation, effective March 13, 1929, of me name and Electric Bond and Share Securities Corporation. In October 1929, it acquired all of the property and assets of Electric Investors Inc. ‘The Company acts in a supervisory capacity for certain power and light and other public utility companies and supplies technical and financial assistance in connec- tion with the financing, operation and business development of these compan- ies and the construction of their properties. Electric Bond and Share Company is a service company and not a holding company as that term is ordinarily used. It is not engaged in the business of supplying power or light, gas, street railway or other public utility service, nor does it control any company doing such business in the United States. It controls one public utility holding company only, viz., American & Foreign Power Company Inc., through ownership of a majority of its junior se- curities. That company controls public utility subsidiaries operating entirely in foreign countries. Electric Bond and Share Company also owns and holds for in- vestment substantial minority interests in four other public utility holding com- panies, viz.: American Gas and Electric Company, American Power & Light Com- pany, National Power & Light Company and Electric Power 8 Light Corporation, the subsidiaries of which supply electric power and light and other public utility services in thirty-one states of the United States. Purpose of I. ue general corporate purposes of the Company. Earnings Proceeds from the sale of this cumulative $5 Preferred Stock will be used for Earnings for the twelve months ended March 31, 1930, as shown in the President’s letter, were equal to more than 4% times annual dividend requirements on all Preferred Stocks to be outstanding upon completion of this financing. Equity The Preferred Stocks will be followed by 13,753,501 %’. shares of Common Stock of no par value, which has an indicated market value, based on the present market price, of more than $1,300,000,000. Legal matters in connection with the issuance of this $5 Preferred Stool will be passed upon by Messrs. Winthrop, Stimeon, Putnam & Roberts of New York, and for the Company by Messrs. Simpson Thacher & Bartlett of New York. Philadelphia Wae offer this Stock when, nd if issued and received by us, and subject to the approval of Counsel at $91.50 a share and accrued dividends, to yield over 5.45% Bonbright & Company 205 Hill Building Chicago Washington ‘The information contained in this advertisement has been obtained from sources which we @onsider reliable. While not guaranteed, it is accepted by us A8 accurate.