Evening Star Newspaper, April 20, 1932, Page 15

FINANCIAL. GOVERNMENT BOND ISSUES ARE LOWER New U. S. Treasury Financ- ing, Expected Monday, Af- fects Investments. BY F. H. RICHARDSON, Special Dispatch to The Star. NEW YORK, April 20—Bonds pur- sued an erratic course today in trading of moderate proportions. United States Government issues started off with a brief rally, which dis- | appeared in the face of Wall Street's| expectation of new Treasury financing, w0 pe announced Monday, of $300,000.- 000 to $500,000,000. Opinions differed in the Street as to the offering rate. ‘Those inclined to believe in a continued cheap-money market thought that the amount could be raised with 6-month to 12-month notes carrying coupons of 14 to 17 per cent. Others were in- i clined to favor 1': per cent for the six- month notes and 2 per cent for the one- year descriptions. At any rate these coupons are con- siderably larger than the present yields on the last issue of Treasury notes, and | some offerings of Governments were brought into the market today as a re- sult. The more speculative rails and in- dustrials were scmewhat higher. The car-loading report, showing increases of loading in miscellaneous freight and merchandise in less-than-carload lots, N NEW YO BONDS ?TOCK EXCHAN Received by Private Wire Direct to The Star Office. UNITED STATES. (Sales are m $1.000.) B 100 24 10030 Lib3ks 181 10 L et gasad 11018 1018 L Ist414s 32-47 263 101 28 10119 L 4th 4148 33-38 766 102 20 10215 UB3s1951-55. 602 94 17 9324 S 3%s 1946~ um 95 16 9424 221 [nland St 4348 A'78 Inland St 4% = B'S1 1 | Int Rap Tr rf 5566 4 Int Rap Tr '66 sta.. 17 Tnt Rap Tr 6s'32.. Int Rap Tr 75 32 Int Cement s 48 .. Int & Gr Nor s Int Hydro El 68 " Int Match bs "41... Int Match 58 47 Int Mer Mar 6= '41. Int Pap ref s A'47. Int Pap 6s ' Int Tel&T 414 39, IntT&T4 haon. TNt T& T 55" Ttaiv 7a '51 Ttaly Pub 75" Tapanese fi1ge ‘65, 2 Japanese f14 Jugpsl Bnk 7s " Kan City Son Ki Close. 100 20 101 8 10119 10217 9327 94 26 98 18 989 9811 9822 9815 9815 98 20 9815 9818 100 24 100 16 100 19 102 15 102 15 105 18 105 18 . Low. Close. 3814 7815 60 u-.v 40-3. 160 AthM Par 5.'5L b & St 514843, Adnms Exp 48 u s A'leghany Cp Alleghany 63" Alleghany 6a 80, Allfe-Chalm Am F P55 2030. Am1G Ch 5% Am Intl 5%s 49 Am Metal 5% Am Sm&Ref Am Sug Ref Am T&T 4%s ‘39 Am T&T ¢ tr 68 Kreug & Toll 5s'59. Laclede 548 C'53. . Laclede 5%s D '60, Lautaro Nit 6s '54. Leh Valcn 45 2003, Leh Ven dys Lig & Myers Loew's 6x 41 Long Isl rf 4s *49 Lorillard 6s '51 Lorillard 7s "44 La & Ark fis '69 LouG & 715 Am T&T deb 68 '65. 185 Am T&T 5%8"43.. 45 Am Wat Wks 6s'34 i Am Wat Wks 6575 Argentine 534862, Argentine 9 Ju Argentin 9 Oc Argentine . Argentine 6s B ‘8. Arm & Co 415839 Arm Del 5%s 43 . Atchison gn 4s \of & proxy fight, which may develop | out of the offer of cash or stock for CURB ISSUES MOVE | INNARROW RANGE Utilities and Oils Feature Trading, With Irregular Trend. BY JOHN A. CRONE. Special Dispatch to The Star. 20.—After open- ing dull and irregularly, stocks on the curb exchange remained steady in today's session. Electric Bond & Share was up a shade around 14'5, and Cities Service was y around 4. Standard oil of rose a fraction, while Humble Oil vielded slightly. Gray Telephone Pay Station broke mese ihan & dosen points on prospects relatively | these shares by American Telephone & Telegraph. The recent break in Caro- a Light & Power reflected the Su- Court's decision upholding South Jlina’s power tax on electricity gen- d or sold in the State. perial Ofl lagged after its activity preceding session, though Ca. 1 dispatches today indicated that the company had offered to buy $1,750,- 000 of Newfoundland bonds in return monopoly on the sale of petroleum in that country. ous dividend revisions or omis- not at once mirrored on the a Electric, after reporting THE EVENING STAR, WASHINGTON, D. €., WEDNESDAY, APRIL 20, 1932 N. Y. CURB MARKET Received by “rivate Wire Dizect te The Star Office. Sale— Dividod fate. Add 00. Hieh. Low. Close. Pac G&El 1st pf 1% Pacifi West Ol. Parker Rust P ( Penroad Corp..... Penn Gas & Elec A Penn W & Pw (3) Pepperell (4).... Phoenix Secur Corp Pllot Radio Tube A Pioneer Gold (12¢). Pitts Plate G1 (1) Piymouth Oil k25¢ Prudential Inv.... Pub Util Hld war.. Pub Util HId x Pub Ut Hold cm pf. Pure Oil pf (6). Radio Prod... Reliance Intl A, Reliance Manag Reybarn. . Seaboard Util (28¢) Secur Allfed (1) Seeman Bros (3). Segal Lock & Hrd Selected Ind....... Selec Ind al ct(5%) Sentry Saf Control. Shenandoah Corp. . Sherwin Willlams 4 Bllu Siliea Gelet....... Singer Mfg Co (8). 280! llO Smith (AO)..... South Penn Oil (1 S'eastern Gas & W Sou Cal Ed pf B 1% South Nat Gas. . Southland Roy 20c. So West Gas Util... Stand Ofl Ind (1).. Stand Of] Ky (1.60). B idene Rate. K80 u Hish. Low. Close Acetol Prod A. . Alabam Pw pf (7). Aluminum of Amer 300s 27 Alum Co. Am pf(3). 2508 104, AmCit PRL A (a3) 1 19% AmCities P&LB. 1 1% Am Comwlth Pw A. Am & For Pw war. Am Gas & Fl (11) Am Lt & Tr (234) Am Maracatbo. .... Am Superpower. .. Am Super 1st pf(6) Appalachian Gas. . Arkansas Nt G A. Ark N G cu pf(60c) Art Metal (b8%). AssoEl Tnd Ltd. ... AssOG & EADS%. AssoG & Ect (8).. Atlantic Sec Corp Atlas Utilfties. Atlas Util pf A (.!l. Benef Ind Loan 134 Biue Ridge. Blue Ridge pf (a! Brazil TL&P (b8 ) Bunker Hill & Sul. . 5 Canadian Marconi. Celluloid 1st pf. . Cent HUdG&E Cent Pub 8V A.. t States Elec. Chain Stores Stk. .. Cities Serv (g30c). Cities Sve pf (6)... Citles Sv BB pf (6) Clev Elec Illu 1.60. Comwth Edison (8) Comwlth & Sou war Comunty Wat Svc. e @ o 1008 33% 5% 34 8% 1 BITT T e 25 FETREEVIVT nd P&L B (2). arrett Corp. 4 | Bank success in that direction. PINANCIAL, CLEARING HOUSE RULE AIDS GOTHAM BANKS Change in Interest Charges on Deposits Will Be Effective April 22. By the Auocllkm Press. First Mortgages for Sale 6% JAMES F. SHEA 643 Indiana Ave. N.W. NEW YORK, April 20.—New evidence of what is hnved by eentral banking au- ng:rmes .d:umpmvz a general 2““ thaw m: appearance in the credit field. Ty The New York Clearing House Asso- ciation notified its members, including virtually all of the sizable banks of the City of New York, that on April 22 certain rules covering interest payments on deposits would undergo a change, r?\;ltfilz in a snfilni of many millions | of dollars annually in interest id b} banks on deposits. Fvosy While commercial bankers did not at- tribute the change in rules to the Fed- eral Reserve Bank's aggressive drive to loosen up credit, they s.lld the action was unquestionably in “recognition” of it. In other wards, they denied that the Reserve Bank's drive to pile up cash resburces of the banks to such a \hclchl that they would be forced to look elsewhere than at Government bonds for profitable investment, they admitted that the early trend appeared already to point to likelihood of Reserve How Old Are You Financially? Your age should be judg- ed by your increase in in- come AND your financial accumulations. Start today to save a definite part of your present income reg- ularly as a cash reserve. L} L} . As a means of scaling down their in- terest charges on deposits to conform with the expected easier tone of money, the Clearing House announced it had ruled “that in cllcuhnn’ interest on deposits from April 22, allowance is to be made for deductions in the Reserve covering demand and time deposits. On the demand deposits, the reserve is Open Daily 9 1o 5 Saturdays Until Noom Copper Ranz Cord Corn Corroon & Rey Creole Petrole Crocker Wheele Deere & Co. Draper Corp o East Util Asso (2). Elcc Bond & Share. FlecB&Spf(6).. 3 Elec Pwr Asso (1). 1 Emp G&F cm pf(7) 50s Foltis Fischer..... 2 Ford Motor CanA.. 5 Ford MLtd...... General Alloys, .. General Aviation. Gen Pub Sve 6% pe. 20; Glen Alden Coal Globe Unwrit k2 Goldman Sachs. ... 83 ham v.te.(160) 1 Tel P Sta t4. . 50s tARP T n v 16% . 208 Gt A& P Tea pf (7) 108 Groe Strs Prd vie. . Gulf Ofl of Pa. Helena Rubinstein. Holling Gold +70c. Hudson Bay Min, . Humble O1l (2), IP&LDL(6).. | Ind Pipe Line kise. Ind Terr N1 ON B. . Imp O11 of Can 50c. Insurance Sec. . Intercont Pete. Int Petrol (1)..... Interstate Eq cv pf. Lake Shore M (2).. ime Star G n(60c) .ong Isl Lt pf (7). Mayflower Asso(2) Mead Johns (1314). Mem Nat Gas (60¢) Mexico-Ohio Iil. .. Midl West Utilities Mountain Prod 80c Lyons 634 MeKes & R 516« Manhat Ry Marsaille fs Midvale Stl 5s MIERv&L Mil Bl Ry&Lt 5 MK&Tad!5 Mo Pac gn 4s'75.. | Mo Pacrf5sA G ¢ Mo Ppc 58 F'77. Mo Pac s G '78. Mo Pac £ T '80. Mo Pac I 5s ‘81 Mo Pac 54s A4 Mont Pow 5s 4. Mont Tr 1st rf 5x'41 Mor&Co 1st 414539 Nat Dafry 634 s'48. . 2 Nat Steel fis '56. ... NOT&MGsB of 27 cents a share, in 1930, deferred action quarterly due at h‘m cents quarterly 50 cents here- an Light & Power, Iy owned by North American Co. ud Middle West Utilities, halved its common quarterly payment. helped sentiment. Rail stocks rallied sharply and most carrier bonds reflect- © ed this movement CBICAGO LIVE STOCK MABKET CHICAGO, April 20 (#) (United States Department of _Agriculture). — Hogs, 13,000, including 3,000 direct; strong to 10 higher; 170-210 pounds, 4.00a4.15; top, 4.20; 220-250 pounds, 3.7584.00; 260-310 pounds, 3.55a3.75; 140-160 . pounds, 3.90a4.10; pigs, 3.75a4.00; pack- ing sows, 2?5l3 .15; light light, good and choice, 140-160 pounds, 3.85a4.15; + light weight, 160-200 pounds, 4.00a4.20; medium weight, 200- 150 pounds, 3.75a 1 4.20; heavy weight, 250-350 pounds, 3.4043.85; packing sows, medium and ¢ good, 275-500 pounds, 2.75a3.15; pigs, good «nd choice, 100-130 pounds, 3.50a 4.00. Cattle—7.000 head: calves, 1.500; general murket rather slow and uneven, but generally strong with instances 15- = 25 higher on weighty steers and light heifer and mixed yearlings: all interests buying rather freely; not much beef in » Tun; best weighty steers, 8.00; light of- ferings, 7.50; mixed steers and heifers, 7.35; slaughter cattle and vealers, steers, good and choice, 600-900 pounds, 6.75a 8.25: 900-1,100 pounds, 7.00a8.25; 1,100~ 1,300 pounds, 7.00a8.3f; 1.300-1,500 pounds. 7.00a8.35; common and medium, 600-1,300 pounds, 4.7587.00; heifers, - good and choice, 550-850 pounds, 5.50a 6.75; common and medium, 4.00a5.50; - cows, good and choice, 3.75a5.25; com- ; mon and medium, 3.00a4.00; low cut- ter and cutter, 175a3.00; bulls (year- | lings excluded), good and choice (beef), | 3.00a4.25; cutter to medium, 2.50a3.15; Vealers (milk fed), good and choice, i 5.00a6.75; medium, 4.00a5.00; cull and | cemmon. 2.50a4.00. Stocker and feeder ! cattle—Steers, good and choice, 500~ 1,059 pounds, 5.25a6.25; common and' | madium, 4.00a5.25. | Sheep, 12,000 bidding fully 25 lower on better grace lambs, others and sheep weak with lower tendency: good I to choice woo'ad lambs, bid 6.50a7.00 bv packers; asking upward to 7.50 for cbse‘y sorted kinds; lambs, 90 pounds | down, good and choice, 6. .50; me- | dium, 5.7586.65: 91-100 pounds, medium | to cho'ce. 55027.40; all weights, com- | mon, 45025.75: ewes, 90-150 pounds, | medium to choice, 2.5024.00; all weights, l cull and common, 1.00a3.00: feeding | Jambs, 50-75 pounds, good and choice, | 5:5026.00 Atchison 4% 48, . At C L 1st 4852, AN CLel4s's Atl Gulf& W1 5s Atl Ref db 5s astralia 41 Australia 5s Australia &8 Austrian 78 '43. Austrian 7s 5’ B&O4%s'23..... to be 13 per cent and on time d-poflu‘ 3 per cent.” Technically, it was explained, this| will get around a general reduction in | 70 | interest rates on deposits, but the effect 4 \ will be the same. Under the new rule, the Clearing House member banks will not pay interest on that portion of their | deposits which, under law, they are obliged to turn over to the Reserve Bank as deposit reserve. This reserve, | on which the banks do not receive in- | terest, amounts to 813 for every $100 of 2 | demand deposits and $3 for every $100 7 | of time deposits. Since March 12 deposits have been growing, the Clearing House report showing a total of $5,174,000,000 on that date against $5,344,000,000 last week. TInsull Protective Committee. | NEW YORK, April 20 (Special) —A | an Camp Pack.... 6 13| protective committee of debenture hold- ick Financ (30c). 4% | ers of Insull Utility Investments, Inc., Walgreen do. .. g%, 1 was formed yesterday, it was announced Walker (H) pf g1, | by John J. McDevitt, jr, who was | West Cart pf (8)... 125 503, chosen chairman. Other members of | Westvaco Ch pt (7) S0s 4% | the committee are 8. P. Woodward, L | Woolwth Ltd ki%e 2 1o |Alan hGoldsbumugh é::d ]cmtnes "i‘ Barte! secretary. unsel or auariery or" st ® payment” ‘¥ | committee are Holmes, Rogers & Car- | f‘};‘“{‘,.fl, [Partly extra Plus ¢ penter, 20 Broad street. The Empire L e G L Trust Co. has been designated deposl-i Swiss Am El p Tech Hugzhes (£0c) Tenn El Pw 1st (7) Texon Oil & Ld (1). Tobacco Prod Del Trans Air Trans Trans Lux DL P Tubize Chatel B Ungerleider Fin Un Amer Utilities., Unt Car Fast (40¢). United Corp war United Founder: . 258 135 1 2% 17% | New York Cotton Dispatch to The Star. YORK, April 20.—Cotton prices unchanged to 3 points higher at quiet opening of the market today. rde demand was fairly brisk in May 1% | 284 | 316 | 21w %| A Genero\u Return on Your Investment Combined with Safety, when you BUY OUR FIRST MORTGAGE NOTES Secured on new brick homes in preferred northwest resi- dential sections. Every mort- gage protected by fire insur- ance and title guaranteed by responsible title companies. Conservative Appr ing Absolute y IN DENOMINATIONS OF $250 and upwards BOSS & PHELPS 1417 K 8t Realtors. National 9300 Bk Chile 6% s '61 Batav Pet 4155 42, 9 1 5 s 1 2 United Wall Paper. Util P&Lt..... Pwr&Lt B ctfs prices were: May, 6.03, up . up 2; October, 6.45, up 2| up_ 2: January, 6.68, 6.61, 2 and March, 684, un- Belgium 7s ‘56 Bell Tel Pa Gs B Bell Tell Pa 55 C'60 Benef Loan 6s '46. . Berlin C Bl 6% Ruth St! pm 6= " Beth Sti rf Nw & Wales f. N Y C31s'97 N ¥ Centdh 4= 34, N Y Cent 45798 . Grain Market By the Assoclated Press CHICAGO. April 20.—Grain prices | tended downwerd early today, in- fluenced by comparative dearth cf spec- | ulative buying. Winnipeg messages | | told of good export demand overnight, | but chiefly for Canadian wheat. Opening unchanged to Y off, wheat later sagged all around. Corn started unchanged to % up and subsequently | declined. € Acfustment dividend. Plus 65 — in- stock. In stock FFlus 2% in rtcck in stock. m Plus 3% in stock. n Plus 8% in Sockp Paid Tast” yeareng repuias tate. Paint, Varnish and Lacquer Sales. ‘ NIZW YORK, April 20 (#)—Statis- ‘ tics released by the Department of | Commerce indicated that paint, varnish | and lacquer sales, as reported by 588 manufacturers, amounted to $16,280,797 during February, as compared with $20,- 90¢,470 in 1931 and $28,384,173 in 1930. | Many schools in the Philippines are being closed because of lack of funds. Brazil 7s C R 2. .. in stock | Rrazil s 41.... Bremen 78°35. Bklyn Ed 5s A Bklvn Eley 6 f BKlyn Man 65 A '§ Bklyn UnGas5s'45. Budapest fis Buenos AR 6s '6 RR& Pitts 4368 '57 Bush Ter con 5s'55 Calif Packing 55°40 Cnn.a. 4% 60, WE HAVE SEVERAL VERY CHOICE FIRST MORTGAGES 612% interest An opvortunity NH&H 414567 NYNHEH 6s 48 NY O&W rf 4292, NY Rys 65 A N Y Telgn 4 NY W&B 4%s Nord f148°'50. Nor & Wn en 45 North Am Cn Nor Am Nor Am Cor Am E516n 81 \ Ger Lloyd 85 '47. NorOT & L 6547 Nor Pae gn Nor Pac Nor Pacr1 65 Nor St Pw Nor 8t Pw Norway fis Norwny f%s Nerwav fie 44, . Norway s ' Orez-Wash 4s° Orlant Dev fi 1= Orient Dev 65 '53 Pac GRE 68 42 Pac T&T 15t § Pac T&T rf §s Paramount 6s 47 s-Lv M 6s ,,q_, MRRALRANC AR A AL SN N NS AR M A AR BT DD~ Bk 20 1 a6 a sate invgetm mt for that small amou: ot 'Tinas Wing. 1ote. CHAS. D. SAGER Realtor 924 14th St. N.W. NAt. BONDS ON THE CURB MARKET. DGMESTIC BONDS. ) Salesin thoysands Alsbama P 4iss Co 036 at Bnd & Sh (1).. Dairy pf A (7). 258 atl Fuel Gas (1), 1 Natl Investors. 1 atl Pw&Lt pf (6) 1008 at Short Trm pb5e elson Herman, ... ew Jersey Zine 2. wmont Mining. . Hamburg. ... Niagara H Pw(40c) Niagara Share, Md. Noma Elec (40¢). . North S Pw pf (7). Oflstocks Ltd A. ... | Outboard Motor A Outboard Motor B. Low. Noon. 6% . ~ 2o U 283 mer P ner Roll M 4iys '33 e, Roil Mili by as 65 e ps B 4 alach Pow 5s sP&LSs’ Can Nor deb 75 "40. Can Pac db 4s. Can Pac 4%s '46. N 3 4 2 2 1 1 - % 41 2 1 508 1 e = Seles of Lead Improve. | NEW YORK, April 20 (®).—It is re- ported in the lead trade that some pro- ducers have sold more metal during | the first half of April than they did | during all of March. —_— . Washington Stock Exchange. SALES. Washington Gas 6s “B"—8$100 at 100';, | $100 &t 10012, Lanston )!lcnotyp&—lo at 58, 20 at 58 i 10 at 58. ~ Mergenthaler Linotype—30 at 35, 10 at i 37,5 at 37%, 10 at 38, 10 at 38, 30 at | 2 38, 50 at 39, 2 at 39, 10 at 41. Z The Carpel Corporation—25 at 9. AFTER CALL. Washington Gas 55—$1,000 at 100. CANCELLATION. The sale printed yesterday, Potomac | Electric Cons. 55—$1,000 at 101, was| canceled today. BONDS. Bid and Asked Prices. PUBLIC UTILITY. & Tel. 4145 '39 Tel. ctl 5 HOARDERS are Buying these BONDS Cert-ta ab sy Ches Corp 5s 47 C&Oend4tsen, Ch & Oh con 5839 CB&Gen CB&Q4H Chi & Est 11l 8’51, Chi Grt West 4859 C M & StP en 4589, Chi M & StP 415 C C M StP&P 5 '75. . CM&St Padjbs. . Chi & NW gn 4 17 Chi & NW 4% s Chi&NW rfhzon Chi& NW 63 Chi Rwys bs ‘2 Chi RIS of 4n 34 ChIRT&P 4%48'52 ChiR14%s'60. ... Chi Un Sta 4%s'63 Chi Un Sta 6145'62. C& W Ind en 452, C& W Ind 5%x'62. Chile 65 60. Chile 65 ‘61 Chile 65 Chile 6s Chile 6s 53 TIPS dlus B PS5 G ) 7% """ b Pow & Lt 98 '3 Ser 5133 48 8514 Pennd4%s D81 Fenn en 4158 '60 Penn rn 414 s 6! | Penn 43%s D 70 Pann 4% 63 Penn 556 Penn ren 8 ‘68 Pern 668 °36..... Penn P&L 4348 ‘81, Pecp Gas ref 55’47, Pere M 15t §s Peru 6s ‘80, Phila Co 5s '87. . Phila Elee 471, .. Phila & Read 6843 Philippine R 4s '37. Phillip Pe Market Averages. 9331 By the Assoclated Press. !rncxw £ 20 mm 1 veniiiday s, Rails i, To Previous day Week ago ... Mouth ago ... Year ago . Three years ako Pive years ago , 1932 e wiRoabaman - RN AR AN WO DD Casanits SassShasse g D ohE o3 o ho w High, Low, High, Low, » oo i ks b r @ oarders are the most skeptical of investors. They believe their money is safer in a cigar box than ina bank;safer inamattress than in a bond. A8t Ea 23 = Yesterday Previous day Week ago . o 22 e tetetetatubgtutaternd Poland f= Port Gn El 41cs 60 Por R Am T 6s 42 Pos Tel & C 3 Pressea St C Prussia 6s Pub SvG 41 PubSv G4 Pure 011 5% Month ago Year ago : Two years iio They have to be assured of security before they will invest. That is why many have in- vested in the 8% Eight Year Gold Boads (par- ticipating conditionally to 10%) of the Associ- ated Gas and Electric Corporation, a subsidiary of the Associated Gas and Electric Company. They are sure that they will get a sound invest- ment—as well as one that pays a generous income. Baby Bonds Pay 8% Initial Interest 3 PUTTING IDLE DOLLARS BACK TO WORK Chin GVtRy 5 P Asked | oy Term 435 Amer. Tel Am Te ‘Anacc Ana ©Eaer 008 0. 82282338233 Colomb Colomb Colo & Sou 47 Col s (Copyright. 1932. Standard Statlstics Co.) Queensland 6s47.. Read gn 438 A ‘97, Rem Arn s 63 A 37, C & Capit Oity & Subi Georgetown tomae Elec. glomac Elec, 16s'61. Com Inves 5% s Cons C Md rf 6850 Con G NY 438 '51. Con G NY 534845, Consurn Pow 58 ‘62 Con Pwr Jup 6%s. . Con Pow Japan 7s. Copenhag 434 '53. Copenhag & Cuba Sls .o Cuba R R 1st'5s 52 Del&Hud ref 45 43 De: & Hud 54837, Denmark 418 '6. Denmark 53 First Mortgage Loans Rhinelbe Rhine W\ Rhine West g Rhine W 6s Rhine West 78 . 1o de Jan 632 53, 19 A resident of Staten Island, New York City, took $1,000 from a mattress and invested it in Associated Baby Bonds. Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. 6‘70 AND SAFETY Invest in Generous Income—Initial interest on these bonds se 5 STOCKS. is 84%. PUBLIC UTILITY. & Tel (9).. apital Traction Co. (1) Wash. Gas Lt. Co. (18) .. & W. Steamboat (13} Elec. Power f Flec. Power 8%4% pfd Rwy. & Elec com (1) Rwy, & Elec. pid. (5) . NATIONAL BANK. Min. price. Asked. 175 230 An Associated representa- tive in Newark, N. Y., went at night to the home of an elderly man, and helped him dig $1,000 out of his yard, where it had been buried a year. This money was also put to work in Associated Baby Bonds. Royal Dutch 4s 45 SIL 1M R&G 433 mer. Tel Interest Protected —Consolidated net earnings, excludingall net non-operating income from non- utility subsidiaries, etc., and after depreciation and all prior charges, are over 5 times the annual fixed interest of 8% on $40,000,000 principal amount of this issue. First Mortgage Notes, Secured on Individual Homes An investment medium that has passed every test. Pro- tected by fire insurance and title guaranteed by financially responsible title company. ) 93 100% 100% 6214 Dodze Bros 63 '40 Donner Stl 7s 42, Duquesne ¢35 ‘67 ¥ Erie con 4 '9§ Erie gen 48 '96 Erie ref 5s'67. Erie ref 65 '75. rle & Jer 6s Finland 5% ‘58 Finland 6335 ‘56 Finland 7s '50. . | Fixk ftub 841 Fram Ind 78 French Gov 7s " "* | French Go 74s 41, 2 (stamped) " (10) “Natl. Bk, & Tr i:unr. P W uiusl. h b FOREIGN BONDS. 1 Saxon 7545 Mig Bank 75 2 Atg Mg Bank Ts Units of $10—The bonds will be available in registered form in denominations of $10 and multiples, and in bearer (coupon) form in denom- inations of $100, $500, and $1,000. The first foreign subscrip- tion was received from Eng- land in the form of $1,000 worth of old size United States Government $10 and $20 bills, that had probably been hoarded since 1929. | Shell Un € Shinyetsu 612 )l 61os B 29 8% S 49 51 54 Denominations of $7100 axp vore Ao & THS) 1435 K St. N.W. NA. 2345, Partial Payment Plan — Investment may be made by making a first payment of $3 per $10 bond. The balance may be paid in two equal install- ments. Interest on partial payments is 7%. 3 Gestueral ‘g 33 3 1th. ES&U S'is (‘ ta | Sine P 1 4 i o | Skelty OF 17" 17| Solvay Am " 1 | Seu pen T 119% 119% ‘ s 30 80 | Sou Pac col ¢ 44 44% | Sou Pac ref 48" 100 100% | Sou Pac ¢1zs 68 88 B3 [ SouP4ls 3N 35% | Sou P&OT 448 A'T7 29% | Scu Ry n 43 '56. .. 284 | Sou Ry 6148 56 284 | Sou Ry M&D 4s " 2744 | SUON N J bs SO StONNY 4yn 61 29 Gelsenli’hen 65'34. e 515841, Gen Moturs 8537, Gen I’ SviYs" Gen Th Eq 68 "40 Ger Gov 5% 8°65. . Ger Cent Bk 63 '38. Ger Cen Bk 6560 J Ger Cen Bk & German 638 °'50. . German Rep 7849, Ger Cen Bk 7s '50. Goodrich 6s 45. Goodrich 6145 47, 78% Goodyr Rub 55'7.. 70| Talwan £ P 5% Grand Trunk 6 g5a, | Tex & Avk b Grand Trunk 78'40 Tex Corp ev 58 '44. | GreNords Third Av rf 45 60 1 GrtNor s B'52. ‘:‘H"‘::\ 18 Grt Nor cn 75 '36. nir | Greck s 68 y Hud & M ad) & | Humble 011 bs Humble O 5% Hungary T%s 4. 111 Bell Tell 6556 . 11l Cent el tr Il Cent el tr There are also instances from several communities in Associated areas where money was taken from safe-deposit boxes and put into Associated Baby Bonds. Stock Purchase Privilege — Each bond will carry a warrant entitling the holder to buy, during a fifteen-year period after March 15, 1933, Com- mon Stock of the Associated Gas and Electric Company at $5 a share on the basis of one share for each $100 of Bonds. Mechanics (20) FIRE INSURANCE. American (12). Corcoran (10) iremen's (%) ational Union’ (15} TITLE INSURANCE. folumb sl Est (6h) te (6h) MISCELLANEOUS. Barber & Ross, Inc.. com gl \numl Bids. Ques. per. f"’ s Nl et it Bid. mer. Bromo-Sel s 30 4 FULT ) Utan b & L5844 Util Pw 58 '69 ww.. Util Pow 548 '7 \. nadfum St 5 rt Sug 15t 18 Vienna 6s 52, Va Ry 1st 55 A Wabash 448" Wabash 1st bs 0% 101 160 288, 108 50 6615 7 T Askgd. 1 6% NOTES Secured by First Mortgage Washington, D. C. Real Estate Safe—Conservative H. Saunders Co. Ine. Realtors Established DI 1016 This issue is a security that meets the investment needs of today. The bonds combine security of principal and interest with a liberal yield. @®).. ‘com. (1.20f) A o “PHa V! unflr‘}n Monotype er tie. col e T 4 B SE -rnmnnle» Lmulyre @ atl . & Inv. pid el = deral Storase pid See your security dealer or bank, or write for circular, to which reference is hereby made, for complete detuails. 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