Evening Star Newspaper, June 22, 1930, Page 66

ONDS IRREGULAR | IN QUIET MARKET Convertibles Ease With De- cline in Stocks—U. S. Group Is Firm. BY DONALD C. BOLLE Associated Press Financial Writer, ®EW YORK, June 21.—Listed bonds moved irregularly today. A few prime bonds in the class which spurted yes- terday continued to display strength under the influence of inordinately easy | credit wconditions. The effect of the usual Saturday lull was apparent in the movement of the list as a whole and volume sales were at a reduced Tate. The resumption of liquidation in the | share market was reflected in the easy | tone on convertible issues, although the reaction was mot as marked as that| which occurred in the early part of | the week. Inquiry for foreign bonds was nominal and price movement ir- regular. Western European govern- | ment$ eased slightly. German 5. continued to sell at 90, the price at which they were issued. The new international loan sold as high as 11 | above the offering price a week ago, but { has moved slowly the past few days with the premium rarely more than lp Only Liberty issues appeared cn the tape in the early trading and prices held steady. GRAIN MARKET iss iigaln FRInk to) Wew' Tow) Points in Liquidation. CHICAGO, June 21 (#)—Reports of | rapidly increasing arrivals of newly harvested domestic wheat piling in on top of big quantities of unsold wheat left over from last year did much to- day to send wheat values reeling down- ward. Word of enlarged movement of new wheat from the harvest fields Southwest took effect on the market chiefly in the late dealings after prices | here had already been depressed by | general rains in Canada and by stock | market weakness. Forecasts of contin- | ued auspicious weather next week for the domestic harvest was construed as indicating no let-up in the fast rural marketing, regardless of record-break- ing low prices prevailing. Wheat closed unsteady. 1%:a2 bushel under yesterday’s finish Corn closed 142133 down. oats 3:al1% off, and provisions showing 12a60 de- | cline. WHEAT— Juiy . September Becember CORN— July September December OATS - July September December RYE— July September December Commodity Prices BY H. N. McGILL, Editor of McGill Commodity Service. AUBURNDALE, Mass., June 21 (/)— e past week represents one of the most hectic periods in the current, long drawn out period of declining commod- ity prices. Practically every group recorded a decline, the drop in non- ferrous metals and textiles being unu- sually sharp. A check-up on 15 in- dividual groups shows that 10 declined during the week ending June 20, 3 Temain unchanged and 2 advanced, The tariffl is now out of the picture 85 an unsettling element. A higher tariff wall will not prove the solutian of declining commodity prices, particularly agricultural. The law of supply and demand determines price levels and ex- panding production of farm products has not been checked in Foreign coun- tries. The stock market break has hit | industry at a time when production is 2t low ebb, demand conservative, due to declining prices and unemployment and low purchasing power still a dom- inating problem. ~ Economic bureaus agree that the worst of the readjust- ment is over, but several months must elapse before a recovery of importance | rezlly gains momentum | All Commodity Prices. A new low was reached in all com- modity prices, representing a drop of more than 20 per cent since 1926 ‘The gTeatest price declines were noted in the industrial group, agricultural prod- ucts, non-ferfous metals and textiles Industrial Prices. These were again hammered down, featured by unusually low prices for #uch products as copper, rubber, tin and cotton. Latest developments clearly ghow that the rapidity of the price de- cline has not yet lost its force. Agricultural Products. Distinct weakness was recorded in agricultural products in the face of the new tariff. The majority of the most important farm products, such as wheat and cotton, are made in foreign coun- tries and not in this country. France 4 now contemplating a tariff to bo; cott American-made goods. The new United States tariff enactment will help confidence, but is problematical how much the ‘measure will help prices. Non-Ferrous Metals. Prices of non-ferrous metals in re- cent years have recorded more weak- ness than other groups. The price de- cline since 1926 approaches.30 per cent During the past week, copper, lead,!| 2inc and tin reached new lows. Tin and | copper have recovered, but the under- | tone of the market remains weak Textiles. Textile prices were lower, due prin-| cotton to_below | > 5 | First Mortgage Loans gton County and ndria, Virginia Commonwealth Investment Co., Inc. 806 15th St. N.NW. Phone National 2623 Mortgage Loan Correspondent for The Prudential Inswramce Co. of America MEMBERS OF Fidelity Building & Loan Association T Receiving and fully participate in surplus earnings Mail coupon for information Fidelity Bldg. & Loan Assn. 200 Natl. Press Bldg. Washington, D. C. UNITED STATES GOVERNMENT, (—1030— High. Low. 100.30 98.26 102, 100.10 102.22 100.28 101.: 101 106.17 109.4 113.14 Lib31451932-47 Lib 1st 4% s 19 US3%s1940-43 U S3%s1943-47 US3%s1946-56 U S 48 1944-54. . US4%s1947-52 FOREIGN. Argentine 5s June '59. Argentine 65 A '57. Australia 55 '55 Austria 78'43... Bank of Chile 6557, Bank of Chile 6%s 1961, Belgium 65 ° Belgium &s Bolivia 78 ct Bordeaux 6s ‘34 Brazil 6 19: Brazil 8341 Canada 5s°62..... Chile Republic 68 1960. .. Chinese Govt Ry bs '51. Colombia 65 1961 Jan. Copenhagen 58 '52. .. Czechoslovakia 8s '51. Denmark 5% 1955 Denmark 6s ‘4 i st Indies 6547, st Indles 65 '62. ut 7s 46 war. nland s ‘50 ench 7s ‘49 French 73%s 41, “ German Bank 6s 1938. German 7s '49... Greek 65 1968. ... Irish Free State 5860, Italy 78’51 2 Japanese 615854, .. Kreug&Toll 5s ct wi’59. . Mexico 43 1904-54. Milan 618 '52 Netherlands 6s 72 New South Wales ‘57 Norway 51s Orfent Dev 513 '57...... ParissLyons-Med 65 '58. . Paris Orleans 5145 1968. . Peru 6s'60 ik Peru 7s S50 Pireili Co of Italy 75 '52. Poland 85 '50. ... Queensland 6347 Queensiand 7s '41 Rhinelbe 7s. .. .. Rhine Westphalia 6552 . Rio de Janeiro 8s'46. ... Rio Grande Do Sul 65 68 Rome 6155 S Sao Paulo State of 85 '36. Seine Dept of “s. . Serbs.Croats&Slavis'62. . Serbs Croats Slov 83 '62.. Swiss 5% s 46 Toho Elec Pwr 7555 Utd Kingdom 5%s '37. Uruguay 65 1960. Vienna 6s 1952 Warsaw 75 1958 Yokohama 63°61...... MISCELLANEOUS. Abram & Straus 5%s'43. . Alleghany Cocv s '44... Am Agri Chem 73¢s'41. Am Beet Sugar 6s'35.... Am Chain 6s 1933 AmI1GChm5%s194 Am Internation 648 Am Natural G 6%4s'42... Am Sm & Ref 1st 58747, 99, 103, 101.16 109.24 106, + . 108! 100 993, 9414 108 99 41, 102% 9813 1018 93y 82% 7214 95 97 97U 1024 70 96% 100 93 70 100% Am Tel & Tel s £ b Am Writ Pap 68 47 .113.4 97 10114 100 104 High. Low. Close. ..101.4 7.102.9 Lib 4th 4145 1933-38. 102,29 102.21 102.25 101.25 101.13 101.25 101.26 101.16 101.24 100.28 101. 102, 1029 0 106.2 106.5 5 108.17 108.17 112.28 112.28 991 981 9% 98% 98N 884 85 85 : 103% 108% 941 9415 96 N 102% 107% 1081 70 781 103% 1044 80 BOY 981 : 100% 100% - 104% 104% 884 22% 76 97% 98 109% 109% 1014 101% 1047 104% 101% 102 101% 102 997 100% 10% 881 10% 3% 103% 1025 - 104 93y 9815 9! 105% 10 10815 10315 90 90% 97 99 103% 103% 94 947 86l 86Y % 76 9% 96 99% 100 97U 9Ty 1034 104 2% 0 70 101% 101% - 102 102 95 80! 1017 1023 162 104% Armour & Co 41;5 39 90% Armour of Del 5%s '43 Atlantic Refdeb 55°37... ¢ Bell Tel (Pa) ref 5s'48. Beth Steel p m 53 '36. Certain-teed 5%s 1948 Chile Copper 55 *47. Colon Oil 6s5°38.. Columb G & E deb 55 '52. Comm Invest 5349 Comm Invest deb 68 '48. . Con Coal (Md) 1st ref 5s. Detroit Edison ref 65'40. Dodge 65°40. ... Duquesne 435 1967. ... East Cuba Sug 7%s '37. General Cable 5143 1947. Gen Motors 6s 37 . Goodrich (B F) 614847, Goodyear Rub 58 1957, Humble O & R 5%s'32.. Inland Steel 433 1978.... Inter Cement 58 '48... Inter Match 68 '47. Inter Mer Marine 65 "41. Inter Paper 58 A '47. Int Tel&Tel cv 43539 ¢ Kendall 51548 (war) Lackawanna Steel 53 50 Lacledel 145 D '60. Liggett & Myers 55 '51 Loew's Inc 65 "41 war. woew's Inc 6s ex war'41. Lorillard 515 '37. .. Manat! Sug s f 71542 Midvale Steel 55 °36. . . Montana Power 55 1943. . Nat Dairy Prod 6%s '48. Nat Radiator 618 1947 New England Tel 55 '52. N Y Edison 1st 6158 '41. N Y Tel 43539 N Y Tel 6841 North Amer Northern States Pow b Pacific Gas & El b3 '42. Pacific Tel & Tel 5’62 Pan-American 6s '3 Para-Fam-Lasky 68 '47, . Philadelphia Co 58 °67.... Phii&Read C&] 63 wi '49. Philips Petrolm 61,539, : Postal Tel & Cab 55 '33. Reming-Rand 5%s 47 Sinclair Ol 6s 30 Sinclair Ol 7537 Sinclair Crude Oll 5%s. Sinclair Pipe Line 5s ‘42 Southwes Bell Tel 55'54 Stand Ol N J bs. ... Stand OII N Y 4%3°5 Sugar Est Orfente 55 '42 Tenn Copper 6344 B Transcon Oil 6%s '38. United Drug 58 ‘63 10015 101% 100% 97 941 103 100%; 1 96 63 102% 96 997 47 107% 94% 101% 70 101 10215 107 94 102 9514 1011 1001 10074 89 84 10215 10, 105 105% 1011 101 40% 42 94 9% 60 62 1015 101% 94 94 99% 9914 46 48 107 107 92 9215 100 101 7 70 99% 101 101 102 106 106" 93 93 101% 102 94% 9515 100 100 99% 100 10015 100'% 8% 86 109 109z 81y 8 § 103% 103% 103 108 1 104% 114 115 98 o 101 101 1021 103 95 961 23 23 1064 106% : 113% 114 100% 100% 1062 1067 103 103 5 101% 102 102% 1021 105 105% 2 1031 1031 100% 100% 100 100% 97 973 94 9615 100 103 978, 100% 10315 s 100% 1007 981, 9814 ~ 103% 105 102% 10214 97 98 40 40 100 100 07% 105 107 20 - 89Y, - Fiign " Low! 88Y% 82 100% My 86 854 934 108 994 100%: 874 913 122 90 9614 911 98% 101% 101% 10274 1081 91 1001 84 96 14% 941 9314 921 831y 911, 95 1001 | 104, 1041 | 108 | 110% | 95 104% | 90 | 1015 41% et High. Low. Close. Shee. U S Rubber 1st & ref 8s. . US Rub 7%s'30. Utah Power & Light s Utilities P& L 5% '47 Walworth 6s ‘45 Walworth 6%s ‘36. Western Union Tel 61 Wilson & Co 1st 65 "41. Youngstown Steel 5578 RAILROAD. Atch T & S Fead) 48'95. . Atch T & S F gen 45 '95 Atch To & S Fe 438 48, Atlantic C L 1st 4s '52. Atl Coast Line 4%s '64 B&Ogold4s'48. ..... B&Ocv4l%s 33, B&Oref 55'95. B & O ref 65 D 2000. Balto & Ohlo 65 *48. Balto & Ohio 6s '95. B&OPLE& W Vads B& OS W Div 58 '50. Bangor & Arool 51. Boston & Maine 55 67.... Broadwy & Tth Av 5543, Brooklyn Manb 1st 68 A, Canada Natlopal 4% 8'64. Canadian NatMN14s '67... nadian Pacific deb ntral Pacific 48 '49. 85% 100% 101 901 N% . 103 . 109% 00% Central P'acific 55 1960. 98 4 96 1041 65 64 86% 51 1073 69 9514 968 114% 1064 97 76 60 102 923, 9214 871y 96 100% 84 75 104 104 95 108 109% 50 6% 93 90 97 611 611 49 84 94 741 991, 881 987 &6 944 90 96% 107 99 850 103 991 T4% 99% 97 96% 94%4 50 9T 105 105 105% 105t 77 90 121 104% 4 6 8614 9015 63% 8814 10314 111% 8% 100 9715 97 106 102 108 974 81y 95% 100 95% 8714 88% 100 97H 9414 49% 5 1024 102% 98 57 | 99y *| 108 107% 107% 107% 818 89 91 93% 8816 106 114% 120 45 88 10214 9%, 88 101 9T% 101% R0 945 95m ELIN the 14-cent level. The American cotton wilj approach 5,800,000 bales, and crop conditions to date are not’ unfavorable. Wool and carry-over of silk con- | Money to Loan Secured by first deed of trust on tinue to fluctuate within a narrow range | at_badly depressed levels. ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. & La. Ave. N.W. 64th Issue of Stock Now Open for Subscription Money loaned to members on easy monthly payments James E. Connelly President James F. Shea cretary Prevailing _interest an Chesapeake Corp bs " Ches & Oh gen 4 7 Ohio 434895 A ChiB & Q4%sB"17, Chi B & Qref 5s'71 Ch & Fast 11l gen 55 ‘51 ChiGreat West 43’59, Chi M St P& P 68 '75 Chi M St P& Padj 58.... Chi& N W 6% Chicago Rys 6827, Chi R 1& Pac ret 4s Chi Union Station 4 4s 1 Union Station 6% 1 & West Ind con 4s 1 & West Ind 5% s"62. ., Cieveland Term 6s B '73. . Cleveland Terminal 5% s. Colo & Sou ref 4345 '35. Cuba R R 5s'52.. Cuba North 6%s 42 Del & Hudson 5%s'37.... Den & Rio Grande cn 4s. . Den & R G West 53 '55. Den & R G West 63 '78. Detroit United 435 '32 Irfe 1st con 45 '96. . 4896 irie con 7s 30. “lor IZast Coast b: Fonda J & G 4%s '52.. Grand Trunk s £ deb 6s. Grand Trunk 7s "40 eat North 418 '76. . Great Nor gen 5%s'52... Great North gen 7s ‘36. Havana Elec Ry 5%s. .. Hudson & Man adj 5 Hud & Man ref 6s '57 1lltnots Cent ref 43 '55. Illinois Central 4% s '66. . Inter Rapld Tran 55 '66. Inter Rap Tr 5s sta "66. .. inter Rapid Tran 65 '32... Inter Rapld Tran ev 7 Inter Ry Cent Am 6% <an City South 35 1950 Kan City South 58 '50 Kan City Ter 1st 4s " Lake Shore 4s '31. Lehigh Val cn 45 2 @ Louis & Nash uni 4s°40. Market St Ry Ts A *40. Mil El R & L 19t re< 6 MInn & St Lref 4s 9. ... MSUP&SSM6%s s .. Mo Kan & Tex 1st 4s . Mo Kan & Tex adj 6s '67. Mo Kap & Tex prln 6sA. Mo Pacific gen 45 °75. . Mo Pacific 68 A '65. Mo Pacif) . Mo Pacific 55 G. Mobile & Ohio 4%s Nassau Elec N Y Cent deb N Y Cen ref imp 6 2013. . N ¥ Cent deb 65 '35 E NYChé& SLref5%sA.. NYCh&SLref6isB.. New Haven deb 4s '67. NYNH&Hart 4%s '67 NYNH& H ev deb 6s. NYNH&Hecit 65'40. NY Ry 6565, N Y State Ry ¢ N Y Wes & Bos Norfolk & W en 4, North Pacific 35 2047 North Pacific 48 '97 North Pacific 58 D North Pacific r 1 65 2047, Ore Wash 1st ref 45’61 Penna cn 4145 1960. Penn gen 4565 Penn 4% Penn gen s Penn 53 1964 Penn 6%s ‘36 Reading 4%s'97... . Rio Grand West col 4, RIATk& L 4%8'34. ... St L Iren Mt gen 6s'31. .. SLIM&ESR&G 4833, St L& S F prin StL&SF4%s"78. St L & San Fr 6s B 50, \St Louis S W con 4s'32. StPKCS Line43s41. 7... 1000 100% 981, 100 1077 74 72 89 5574 110 80 9814 . 100 116 91 101 110x 1011, 8% 103 108'% 91y 1013, 1001, 1007 97% 99 108 1075 107 107 81 931s 124 1057 100 85 994 1007 988, 91 9315 1037 991, 975, 524 52 South Pacific col 48 South Pacific ref 4s ‘55 South Pacific 4248 '68. Southern Ry gen 4s ‘56 Southern Ry 1st 55 '94. .. Southern Ry gen 6s '56. .. South Ry dev 6%s '56. Third Ave st ref 45 '60.. Third Ave adj 6s'60. Union Pacific 1st 45 47 Union Pacific 43 /6% Un Pacific ref 4s 2008 Virginia Ry 1st §s '62, Va Ry & Power 6s ‘34 Wabash 4148 1978 Wabash 1st bs '39 Wabash 5s B 1976 Wabash 53875 West Maryland 4s West Maryland 5%s ‘7 Western Pacific 55 '46. West Shore 1st 4s 2361 § 82 100% 100% 881 91 98K 108% 9% 101% 905 94 8214 100% 101% 89% a1 100 109 9% 102 90% 95% 126 : 100 91% 2 1054 1134 907 101 9914 1004 1087 103% 109 997 843 99 100% 981n 894 92 10284 99 970 50 29 100 1004 100 97% 50 984, “107% 107 + 10759 107% 81 9315 122% 1067 100% 981y 8974 92% 102% 9% R I %4+ FIFEFFEFF 4 Real Estate Loans Lowest interest and commission. Large and small loans negotiated. Also money for sound 2nd Trusts Moore & Hill, Inc. ¢ Since 1900) 730 17th Street N.W. Announcing a Most Remarkable and Progressive Development in Legal Reserve - Life Insurance A Wonderful New Policy Known as The Family Income Policy Evew Inv;stor should post himself on the business | and investment outlook by sending for our June 25th issue FREE FOR THE ASKING Don't delay returning this “ad” with your address for the above and our | “Sound Investment Rules”—both free. TFINANCIAL WORLD America’s Investment Weehly—Founded 1902 | Louis Guenther, Publisher | 53-Fm Park Place OUR HOME LIFE BUILDING, The deposit of one annual premium of $285.80 at age 35 would in case of accidental death during the first year bring the following wonderful results: .$10,000 Paid at once to Beneficiary the sum of. .. i nth for Paid in monthly installments of $100.00 per me 19 years (at least) the sum of FFace of Policy sum of paid 20 years from date of issue the New York | 10,000 \\i Total paid (at, least) ceee...$42800 First Mortgage Loan Applications Invited at 5)5% Construction Loans Glover & Flather 1508 H St. N.W. National 1753 In the event of death from other than accidental causes the total paid would be at least Every man with a family or other dependents should want more information about this attractive Policy, which can be obtained by mailing the Coupon below to: “Washington’s Popular ‘Old Line’ Company” Our Home Life Insurance Co. Vermont Ave. at L St. Clifford R. Allen A. S. Maddox M. E. O’'Brien President Vice Pres. & Gen. Mgr. Vice Pres. & Agency Mgr. OPPORTUNITIES FOR SALESMEN Our Home Life wants some additional representatives in the District of Columbia, Maryland and Virginia to sell the Family Income and other attractive policies issued by the company, including Life, Limited Payment Life and Encowment policies. Experienced life insurance salesmen preferred, but experience is unnecessary if you are ambitious and willing to work. We have a very liberal contract for men. Please Call at or Write the Home Office for Additional Information ADAM: WEIR. ......... Secretary J. BURKLOE BROWN. . Manager, Home O flice Agency First Mortgage Money Plesse furnish me (without obligation) information regar ing your Family Income Policy. | 6 for | 0 BUILDING LOANS or IMPROVED PROPERTY Reasonable Rates Prompt Action B. F. SAUL CO. 928 15th St. Nat'l 2100 Address City Date of Birth INCORPORATED INVESTORS PIONEERS AGAIN Incorporated Investors, organized in 1925 under the law% of Massachusetts, sound Investment Trust practices. Under able management, folloy ing simple, fundamental trustee methods, shareholders have secured an average gain (exclusive of cash dividends) of about 20% per year, figured at present low price level. This without speculation, trading or the use of borrowed money. PARCO SAVINGS-INVESTMENT PLAN Shares of Incorporated Investors have been available in the past on a full-share basis only. institutions, individuals with large funds, as well as the gencral public have invested over $30,000,000 in these sharcs. The management has niow made it possible for those without cash reserve to invest out of current savings, securing for them the same advantages of specialized diversification, safety and growth of principal that Jarge funds are able to command. Suggested from time to time by the country’s business leaders, it has remained for Incorporated Investors to pioneer this idea into practical operation and to inaugurate a great new era for the savings-investor. Known as the PARCO PLAN, it provides that: pioneered the way in Trustees of estates, 1. The investor makes his check payable to the Baltimore Trust Co. Custodian, each month for $10.00, or any multiple thereof. He may stop payment at any time, miss payments or increase them any one or more months. He signs no contract. The Custodian buys shares of Incorporated Investors each month with all funds so paid in. All dividends on shares purchased are reinvested by the Custodian Money on Hand to Loan on First Deed of Trust 69 Interest Reasonable Commission and Prompt_Replies to JAMES F. SHEA 643 Louisiana Ave. N.W. e announce that MR. HARRY BRISKER Applications has become associated with us in our Washington Office ‘Washingt on Building Tel: District 2312 PRINCE & WHITELY Established 1878 Members New York Stock Exchange Ine. INVESTMENTS INVESTMENT DEPT. BRODIE & COLBERT 1707 Eye St. N.W. 7/ pare this tion, plain, inall matters. The Bank of Personal Service 14th & G Sts. N.W. " National 8875 The Commercial National Bank Savings Deposits Bear Interest on Daily Balances from Day of Deposit to Day of Withdrawal. Com- method with usual method of computa- Call and let us ex- Other Departments are equipped to serve you king and fiduciary Resources Over $20,000,000 WADE B. COOPER. President additional shares. The investor receives at the end of two years all shares of Incorporated Investors which his payments and dividends have purchased. A membership fee of $5.00 covers all costs of conducting the plan and secures the privilege of investing cach month as small or as large an amount as one wishes. Buying at twelve points in the year insures getting advantage of price reactions. 5. 6. Thus a single deposit gives you a partnership in al owned by Incorporated Investors and continually super Air Reduction Consolidated Gas, N. Y. Allied Chemical & Dye Corn Products Refining American Can I. duPont de Nemours Amer. Gas & Electric Electric Bond & Share Amer. Smelt. & Refin. 1st Natl. Bank of N. Y. Amer. Telephone & Teleg. General Electric Columbia Gas & Electric General Motors Corp. thirty of America's greatest corporations, whose shares are ed. They are Guaranty Trust Co. Gulf Oil of Pa. Inter. Harvester C National Biscuif Natl. City Procter & Gamble Standard Oil Co. N. J. rbon as Impr. C . S. Steel Corp. Vacuum Oil Company Westinghouse Electric P. W. Woolworth Co. RESULTS: The table below shows how your money grows thru shares of Incorporated growth on its rate of growth for the past four-ahd-a-half years. i Amr. Invested Would Grow Per Month in 5 years $10.00 $1,071.00 50.00 5,357.00 100.00 10,714.00 Investors, basing future In 10 Years $3.737.00 18,686.00 37,372.00 In 15 Years $10,370.00 51,853.00 103,706.00 In 20 Years $26,876.00 134,383.00 268.766.00 If yvou wish to make your savings safely participate in America’s future growth, get all the facts about this plan by mailing the attached coupon. HOBSON s COMPANY 642 Shoreham Building National 1986 Splendid Opportunity for Representatives ve me full information about the Parco Plan for We require the full time services of a few more high-grade buying Incorporated Investars through monthly payments. men to enroll members in Washington. Applicants are re- quested to bring two letters of reference hetween 9 and 10 AM. Previous experience not neces: Character essential. Signed Address Y.