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Evening star. [volume] (Washington, D.C.) 1854-1972, September 16, 1929, Image 15

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83045462/1929-09-16/ed-1/seq-15/

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CONVERTIBLE BOND
LIST IS IRREGULAR
Trading Quiet —High Coupon
Industrial Group Con
tinues to Sag.
BY CHARLES F. SPEARE.
Special Dispatch to The Star.
NEW YORK, September 16.—The
changes in both convertible and mort
gage bonds today were unimportant
' from the standpoint of determining
the immediate price future of both
groups of securities.
While the call renewal rate was
lower, this Is believed to be only a
temporary condition to be followed by
decidedly higher lending rates later in
the month and throughout October.
Naturally this postpones the purchases
of bonds where the element of Income
ia the main factor with the buyer.
Convertibles were Irregular at the
start, with weakness In International
Telephone 4 Vis, which dropped 4 points
and were at one time 27 points under
their recent high. Some of the day's
reaction was later recovered. American
Telephone were steadier following
a decline of l’i points, with a partial
recovery. Philadelphia & Reading 6s
advanced IV6 points and Alleghany Cor
poration 5s a point. American E. O.
Chemical s’is. Kreuger Sc Toll ss, Rem
ington Rand s'is and Southern Pacific
4Vis were fractionally lower.
A significant trend in the market Is
that in the various high coupon indus
trial bonds. Following the heavy shrink
age in those of the Cuban supar com
panies is that in the obligations of the
manufacturers of cement. North Amer
ican Cement 6'is today dropped a point
and are off 21 points from the high of.
the year. Penn Dixie Cement 6S at 74
compared with a high of 97 V 4 this year.
Indiana Limestone 6s are down from
‘92 to 75. The bonds of various theater
and moving picture companies, as well
as those of tobacco company subsidiaries
and small manufacturing concerns, have
a limited market.
Today Dodge 6s declined a point
under the previous low of the year and
at 97 compared with the high for 1928
of about 106. A year ago they sold
at 110.
There were also some new low prices
among the poorer grade of foreign
bonds. There was some surprise ex
pressed In investment circles over the
offering of $8,000,000 State of Ninas
Geraes (Brasil) 6Vis at 87. Last year
$8,500,000 of 6 Vis were brought out at
97 V£ and since have sold at 85.
Washington Stock Exchange
, SALES.
Potomac Elec. Cons. 55—53,000 at 100.
Washington Rwy. Sc Elec. 45—53,000 at
84Vi, $2,000 at 84Vi-
Capital Traction Co.—lo at 93, 10 at 93,
10 at 93.
Potomac Electric 6% pfd.—s at 112.
Potomac Electric s’*% pfd.—lo at
106 Vi, sat 106V4, 10 at 106 Vi, 10 at
106's, 10 at 106, 3 at 105 y a.
Washington Rwy. Sc Elec. pfd.—lo at
97 Vi. 2 at 97'4, 3 at 97 Vi-
Federal-American National Bank—l at
332.
National Bank of Washington—l 3 at
305, 10 at 305, 10 at 305.
Mergenthaler Linotype—lo at 104%, 10
at 104 V
i Est. Mtge. 8s Guar. pfd.—44 at 7%.
Ter. Ref. Sc Whrs. Corp.—s at 81.
AFTER CALL.
Capital Traction ss—ssoo at 94%.
Riggs National Bank—lo at 617.
Washington Gas 8s B—sl,ooo at 104%.
Riggs National Bank—l at 621.
National Bank of Washington—lo at
305.
Bid and Aaked Prices*
BONDS.
PUBLIC UTILITY.
Amer. Tel. & Teles. 4‘t ••%
Amer. Tel. St Teles. 4‘as »*%
Amer. Tel. & Teles. 4’is '39... 204
Am. Tel. Sc Tel. ctl. tr. Ss 103% .....
Anacostls A Pot R. R. Ss 87 *0
Anacostia & Pot. euar. 5s 94 *5%
C. A P. Tel. Os Va. Ss 100 103
Capital Traction R. R. 5s 94 95%
Cits & Suburban 5s 83% 87
Georgetown Oas Ist 6s 98*4 100
Potomac Elec. cons. 5% 99*4 100’ a
Potomac Elec. Ss 1953 107% 108%
Wash . Alex. A Mt. V. ctf 1 »
Wash.. Balto A Annap. 5a 72 75
Washington Gas 5s 99 100%
Wash. Gas 6s. series A 101% }2?„
Wash. Ots 6s. series B 104% 105V4
Wash. Rwy. A Elec. 4s 84 SS
MISCELLANEOUS.
Barber A Ross. Inc.. •%* 94% 95%
Cham.-Vanbit Hotel 6%* 80 100
Chestnut Farms Dairy 6%5.... 106V* 107
Ohavy Chase Club 5%a 100 .....
D. C. Paper Mfe. 6s 89 96
Pot. Joint Stock Ld Bk. 65.... 89
Wash. Market Cold Btorace Bs. 96 .....
Wash. Cons. Title 6s 90 100
STOCKS.
PUBLIC UTILITY.
Amer. Tel. & Telga 389 .....
Capital Traction Co *93%
Washington Gas 130 140
Norfolk Sc Wash. Steamboat... 295 306
Potomac Elec. S'* Pfd... Jl*Ji J 13%
Potomac Elec. s’a'i pfd 105% I®® I '*
Wash. Rwy. Sc Elec com 700 .....
Wash. Rwy. Sc Elec, pfd 97 98
Wash., Balto. A An. com 8%
NATIONAL BANK.
National Capital 230 375
Columbia 400 440
Commercial 200 2*o
District 7. 235 240
Federal-American 229 353
Liberty 240 250
Lincoln 420 500
National Metropolitan 400 415
Klees 618 625
Second 215 335
National Bank of Washington.. 305 307 <
TRUST COMPANY.
American Security Sc Trust Co. 455 485
Continental Trust 133 ..... i
Merchants’ Bank 150 152%
National Savings A Trust 560 675
Union Trust.. 325 340
Wash. Loan A Trust 525 540
SAVINGS BANK.
gank of Bethe.sda 74 SO
ommerce A Savlnes 230 .....
East Washington 37 40
Potomac 310 3ao
Security Savings & Commercial 531 535
Seventh Street 805
United States 500 .....
Washington Mechanics 40 60
FIRE INSURANCE.
American 335
Corcoran 150 .....
Firemen’* •*... 42% 44
National Union 25
TITLE INSURANCE.
Columbia Title. 13 14
Real Estate Tit1e...... 210 230
Title A Inv. of Md, com 35 43
Wash. Cons. Tltla pfd...:.... 60
MISCELLANEOUS.
Barber A Ross, Inc., com It 20
Chtvy Chase Dairy pfd. 107 108%
Col. Sand A Gravel pfd.. 57% 91
Commercial Natl. Co. pfd. 4.... 103 » 104
D C Paper Mfg. pfd 65 80
District National Securitiea pfd. 100 106
Federal Storage pfd.. 11$ 135
Federal-American Co. com 46% 46’ •
Federal-American Co. pfd 100% J®?
Lanston Monotype. 1295a 135
March, Tran*. A Btorag*. ..... 116 120
March Trans. A Storage pfd... 106% 109
Mergenthaler Linotype I°?., 10 ?
Natl. Mtge. A Inv. pfd... 4Je 5
Peoples Drug Stores pfd....... 117% 121
Real Est. Mtge. A GUar. pfd... 7V* 7%
Security Storage.... 115 , 131
Ter. Ref. A Whr. Corp 60 53
Wash. Mech. Mtge. com 11 12*/«
Wash. Medical Bldg. Corp 100 .....
Woodward A Lothrop pfa 107 109
•Ex dividend.
FOREIGN EXCHANGE.
(Quotations furnished by W. B. Hlbba A Co.)
Nominal gold SelUng check!
value (or par). today.
London, pound *4 8865 *4 54% .
Paris, franc. 19S .0390%
Brussels, belga 139 .11*0
Berlin, mark 2383 -2**®%
Rome, lira 193 .0523
Zurich, franc 193 .1926
' Athens, drachma 193 -Uei”
Madrid, peseta. 192 .Hls
Vienna, schilling 14060 .1410
Budapest, pengo .1749
**rggue. crown (nom.)*• *..•• *o3vgy§
Warsaw, sloty .1122 .•••!■
Copenhagen, crown 30* .2603%
Oslo, crown 268 .ssw
Stockholm, crown .368 .2670
TREASURY CERTIFICATES.
(Reported by J. A W. Selitman A Co.*
Rate— Maturity. „Bid. Offer.
l>/„* Dec. 15. 1920 ,»» * o :’ 2
4% Dec. 15. 1929 100 „ „ MR2'H
5%s Mar. 15. 1930 f&lf&L 100 6-22
S%* Mar. 15, 1023 97 26-12 *•
|%s Sept. 16, 1932 *7 34-33 9*
fill Bee. it, 1932 *7 34-12 *f
financial;.
ON NEW YORK ’BONDS STOCK EXCHANGE | (
Received by Private Wire Direct to The Star Office '
UNITED STATES.
(Seles are in 91.000.*
Sales. Hleh. Lew. Close.
Lib 5%t... 13 97 25 97 22 97 :6
I,lb Ist 4%e g 98 80 9$ 28 98 29
Lib 4th 4>«a 17.4 98 SO 9820 9**o
U S 3%5... 10 10021 10021 10021
US 4 V«s 52. 10 106 23 10123 10628
FOREIGN.
Seles. Kith. Low. Close.
Argentine May •$!. 2 9»% *B% 98%
Argentine 6sJu 59.. 11) 98% 98T* < 98%
Argentine is Oct I* 4 98% 98% 98%
Argentine 6%*'«.. 17 92% 92% 92%
Argentine I* A 16 99% 98% 99%
Argentine <■ B II 98% 98% 93%
Australia 4%s 66... 19 84% 86% 86%
Australia 6* 1*55.. 87 92% 91% 92%
Australia 6s 1957... 11 92 91% 92
Austria 7s 2 101% 101% 101%
Bank of Chile «*4s. 2 91% 94 91
Bank of Chile 6%e. r, 97 96% 96%
Belgium 6s 33 100 99% 99%
Belgium 6%a 1 104% 101% 101%
Belgium 7*1961. ... 39 107% 107% 107%
Belgium 7* 1960.. A 9 106 106% 106
Belgium 7%p >6 111% 111% 114%
Belgium!*... 1 108% 108% 108%
Bolivia 7s ct'«9.... 11 82 81% 82
Bolivia 9*. . ....... 12 100 99% 100
Bordeauxes 27 99% 99% 99%
Brazil 6%e 192*.... 26 87% 57% 87%
Brazil 6%a 1027.... 19 87% 87 87
Brazil 7s 2 95% 95% 95%
Brasil Ss 20 106 105 106
Canada Ss 1931 8 100 99% 100
Canada 6s 1952 3 102% 102% 102%
Chile 6s'6o 44 91% 90% 91%
Chile 6s'*l. 19 90Vi 90 90
Chile 7s 1942 9 100% 100 100
Christiania 95 101% 101% 101%
Con Bow Japan 75.. 1 96% 96% 96%
Copenhagen 5a et... 4 96% 96 95%
Cuba 6V4s ? 101% 101% 101%
Csecho 8s 1951 17 109% 108% 108%
Czecho Is 1952 I 109 109 109
Denmark 4V4s 18 86% 85% 85%
Denmark 6% a *61... 6 100% 100 100
Denmark 6s 3 103% 103% 103%
DEI 6%s Mch 61.. 1 101% 101% 101%
DEI 5% s Nov 63.. 3 102 102 102
Dutch East I6a 47. S 102% 102% 102%
Dutch East Ila 62.. 1 102% 102% 102%
El Salvador Is 48... 2HO 108% 108%
Flat 7s war *46 10 116 116 116
Flat 7s x war *46.... 9 90% 89% 89%
Finland 6V4s 2 85 85 86
Finland if 65'41... 4 88 87% 87%
Finland 7a X 99% 99% 99%
French 7s 89 109% 108% 108%
French 7%a «7 113% 112% 112%
German Rank fa 'Bfl4 86% 86 86%
German El F 6%a.. 14 91% 91 91%
German 7a 84 106% 106% 106%
Greek Cs 1961..... 8 81% 81% 81%
Haiti 6s 1 98 98 98
Hungary 7V4s 2 99% 99% 99%
Irish Frsa Stats 6a.. 2 96% 95% 96%
Italy 7s 20 96% 96% 96%
Italian Pub S 7a.... 7 90% 90% 90%
Japanssa 4a 1 92% 92% 92%
Japanese 6Vi a 46 lot% 200% 101%
KreugerAToll Sect. 62 101% 101 101
Marseille 6s 6 99% 99% 99%
Milan 6%s 8 86 85% 85%
Montevideo 7s 2 99% 99% 99%
Netherlands Is 72.. 2 102% 102% 102%
New So Walss 675.. 1 91% 91% 91%
Naw So Walas 61... 6 91% 91% 91%
Nord 6%s 8 101% 101% 101%
Norway 6s 1»*3.... 12 94 93 94
Norway 6%s 63 99% 99 99
Norway *a 1943.... 6 102% 102% 102%
Norway6* 1944.... 2$ 102% 101% 102%
Norway SH« 1961.. 4 101 101 101
OrlantdeviHsSt.. 9 84 88% 84
Parle-Ly-Med 15... 4 99% 99% 99%
Parla-Ly-Med 7a... 7 103 102 102
Paris Orleans 6%a. 6 96% 95 95
Peru 4a 1940 24 82% 82 82
Peru 4a 1961 u 82% 82 82
1 99% 99% 99%
Poland 6s 40 * 7g 78 79
Poland 7s I rets)..., 9 84% 84% 84%
Poland Is 93 91%
Queensland Is 2 103 103 103
Queensland 7s 8 109% 109% 109%
Rhine WstEP6s'62 10 88 86% 88
Phlne WitEPlill 13 90% 90% 90%
Rhine Wet EP 7a 60 10 100 100 100
Rio de Janerlo <%s 7 87% 87 87
Rio de Jan 8s 1946.. 10 103% 108% 108%
Rio Or do Sul 6s 4s. 3 80% 80 80%
g'° Gp - Bul *•* * * * 10 *H 19614 106%
Rome 6%a >27 87 86% 87
Sao Paulo $81435.. 11 102% 102% 102%
Saxon (PW) 7a... 12 98 92 93
Salna7s43 6 106 106% 106
Serbs Cr Slav 7a.... 1 71% 73% 73%
SerbsCrotSlola... 8 84 84 84
Sweden 6%s l 103 103 108
Sweden 65......... 4 101% 101% 101%
Swiss 6%s 1946.... 9 103 102% 103
Swiss Confed *•...« 3 108 108 108
Toho SlPow7s...i 2 87 86% 96%
Toklo 6a 23 76 75 75
Toklo6%a 1961.... 2 84 84 84
lltd Klngm 6%slT. 8 102% 102% 102%
Utd Setam Copen 4a 1 96% 96% 96%
Uruguay 68 1460.., 43 97% 97% 97H
Uruguay *■ 6 106% 106% 106%
Vienna 6a'63 9 93% 83% 88%
Warsaw 7s '62..... 6 76% 76% 76%
Yokohama 6s 2 90% 90% 90%
MISCELLANEOUS.
Abram AS traus 6% a 6 109% 108% 108%
Alleghany Cp 65'44 42 110 108% 109%
Alleghany 6a 49 wl. 31 110 108% 109
AmAgrlChsm 7V4a. ,23 105 106 106
Am Beet Bug fa 35.. 6 85 84% 84%
Am Chain 65*1*.... 8 97% 97% 97%
Am Int Cor 6V4 a 49. 23 110% 109% 109%
Am Chem 6%s cv 49 32 116% 116% 116
Am Nat Gas 6%s 43. U 82% 82 82
AmSnltOßlstli. 3 100% 100 100%
Am Sugar Ref 6a... 1 102% 102% 102%
Am TAT cv 4%a 89.1976 212 202% 211%
AmTATeltr6s... 7 103 102% 102%
Am TAT alia.... 10 102 101% 102
Am Tel A Tel C V6a>« 28 106% 106 105
Am Water Wka 65.. 2 99 99 99
AromurACo4%s39. 1 89 89 89
Armour Dal 6%a... 7 86 86% 86%
Atl Gulf 6a 69 4 78 72% 78
Atlantleßefln 6a... 8 100 99% 100
Bell Tel Pa 6a 8.... 8 104 103% 103%
Bell Tel Pa 6s C 1 103% 103% 103%
Bethlehm Stl pm 6v 17 100 99 99
Beth Steelrf 6a.... 1 100 100 100
Beth Steel 6Via 68.. 21 104% 104% 104%
Bethlehem Steel 6a. 22 104% 104% 104%
Bklyn Edlaon 6a.... 6 102% 102% 102%
Bush Term Bldg 6a. 8 100% 100 100
Certaln-Td 6Viarcts 19 76 73% 72%
Chile Copper 6a.... 14 93% 93 93%
Col GAEI6s May 63 1 97% 97% 97%
Com Iffvast 6Vi a *49 165 104 102% 104
Com Invest 6s *49.. 6 91% 90% 90%
Con Coal Md 65.... 1 66 66 66
ConGasN Y6V4S.. 12 106 104% 105
Consumers Pow 6s*. 1 101% 101% 101%
Cuba Cana cv 7a... • 4 67 67 67
Cuba Cans Sa 6 67 56% 67
Cuban Am Bug 1a... 7 99% 99% • 99%
Det Edlaon 1a40... 1 102 102 102
Det Edison 6a 12 107 107 107
Dodge 6s 80 97% 97 97
Donner Steel 7a.... 1 101% 101% 101%
Duquesne 4Vi567.. 10 97 96% 96%
Flak Rub Is « 100% 100% 100%
Gen Asphalt 6s 36.. 2 104% 104% 104%
Gen Cable 6%s 47.. 2 98 96% 96
Gen Mot Ao Cor fa. 49 102% 101% 102%
Goodrich 6Vis S 3 107% 107 107%
Goodyear6srets... 80 90% 90 90
Hoe ACo 6 Vi 5...... 1 91% 91% 91%
Humble 011 6s 6 99% 99% 99%
Humble OAR 6%5. 14 100% 100% 100%
111 Steel 4Vi540.... 24 91 90% 91
Ind Steel 6s • 4 104% 104% 104%
Inlhnd Stl 4Vi* 7*.. 1 98% 98% 98%
Inn Cement 6548... 2 99% 99% 99%
Inti Match 6a 47...,|87 94 93 98%
Int Mer Mar <5.... 10 99 99 99
Int Papar 6s 47..... 6 97 86% 87
Inter Paper 6a....» 7 90 89% 89%
Int TalATeleg 4Vi •. 1$ 90% 90% 90%
Int TelATel 4Vi a cv 496 204% 196% 204%
KanGABIs 63.... 1 102% 102% 103%
KendallS Vis 48 war. 1 90 90 90
Laclede 6s 6 99% 99 99
Laclede OlVia 62.. 2 103 108 103
Lautaro Nitrate 68. 9 98 96% 97
LtggetAMyera 6561.! 9 100% 100% 100%
Liggett A MyerS 7a 8 118 118 118
Loew s Inc fa I 106% 106% 106%
Loew’s 6a w o war.. 8 94 94 92
LorlUartf 6s 12 79% 79% 77%
LorllllaTd 6Vi a 2 85% 85% 85%
Manatl Sugar 7 Via. 22 81% 80% 81
Midvala Steel 6a... 4 100 99% 100
Montana Pow 6s 48. 8 100% 100% 100%
Montana Pw dob 6a 8 97 96% 96%
Mor’aACo lat 4Via.. 1 79% 79% 79%
Nat Dairy 6Via 87 96% 96 96%
Nat Radiator 6%a.. 4 40 40 40
Nat Tube Ist ia... • 10*104% 104% 104%
N Y Edison 6s 44... 2 102% 102 102
NY Edison 6%5.... 1 111% 111% 111%
NYTeMVis 9 97% 97% 97%
NY Tel 6s 41 7 106% 105% 103%
N Y Tel 6a 49 26 110% 110% 110%
North Am Edis 65., 11 99 98% 98%
No Am Ed 6VI* *63. 17 99% 99% 99%
Nor Stataa Pow 65.. 2 100% 100% 100%
Nor StatoaPow 4s. 7 105 104% 10$
Pacific Gas AEI 6a. 11 100% 100% 100%
Pact AT lat 6a.. N 1 101% 101% 101%
|>a*AmarP#tsfs,e 1 19* . .Ml »•
THE EVENING STAR. WASHINGTOX, T>. CT., MONDAY. SEPTEMBER 16, 10JMF.
Stic*. HlsH. Low. CIOM.
Paramount 6s 1947. 0 19 99 99
Phila Co 49 91 82 fc«* 96 96*
Phila A Raad6s*49. 09 109* 106* 106*
l’hlllp# Patrol*#. 3 69 69 69
PoatalTal AC6*o. 9 91* 90* 90*
Presaad Stl Car Sa. 6 87)4 37* 87*
RamlngtonAr fa It. 4 95 94* 96
Rem Knd sVta war. i« 96Vi 90 96
Sinclair 011 6a 4 98V4 98vi 98V. I
Sinclair 011 6 Ha... 9 99* 99* 99*
Sinclair 011 7a is 101* 101* 10IV* I
Sinclair Crude IHa 14 95* 96 95*1
Sin Pip* Uni 6a.... 2 92* 92* 92*
South Ball Telia... 5 102 102. 102
Southwest Ball la.. 8 101* 101 H 101 H
Skelly Oil 6H» 1 91 91- 91
SUndOll N J 46.... 10 100* 100* 100 H
Stand Oil N* 4 Ha. 6 91* 93* 93*
Sug Ej Orient 7a... 6 72 72 72
rranaconti Oil 6Ha 8 102 102 102
United Drug ta IS.. 9 91* 91* 91*
US Rub Ist rs 6a... 9 86 85 86
US Hub 7Ha 3 IQU* 100 100*
U S Steal a f 6a 47 109* 109* 109*
Utah Pow ALt 6a.. 4 97* 97 97*
Utilities PowrfiHs. 2 89* 89* 89*
Vertieniea Sug 7a.. 1 76 76 76
Walworth 6s ’45.... 6 84* 84* 84*
Walworth 6V&S 36.. 1 97 97 97
Warner Sue 7a 41.. 6 101 100* 101
West Elea 69 4 101 101 .101
Westn Union 6a 61. 4 101 100*101
Weatn Union OHS.. 3 108* 108* 108 H
Wilson ACo Ist 4a. 6 99* 99 99
Wlllya-Ov 6*a 83.. 1 101* 101* 101*
Youngstn SAT Sa. 10 100 99* 100.
RAILROAD. *
Atchison adj 4a.... 8 87* 85V4 85*
Atchlsun gen 45.... 1? 91 90*^91
Atch deb 4Ha 43... 78 168 156* 168
Atlantic CL. Ist 4s. 11 88* 88* 83*
Atlantic CL.4HS 64 4 94* 94* 94V*
B&OOV4H8 38 87 96* 96*
B& O la 5a ct.....'. 6 101* 101* 101*1
B&Orf 6a 26 100* 100 100
B A0&52U00D.... 22 100 99* 99* i
B & O rs Imp 65.... 11 108* 107* 108*
B& O Toledo 45.... 11 81 81 81
Bang & Aroos4asl.. 1 81 81 81
Boston A Maine 6s. 9 94 92 93*
Brooklyn Kiev 6*s S 3 88* 28* 88V«
Bklyn Manliat 6a... 20 91* 90 90
Buff P. A Pitta 4 Ha. 86 87V, 87 87
Bush Term con 6a.. 7 101* 100* 100*
Can Nat 4*5!0.... 7 99* 69* 99*
Can Nat 4*a 54.... 4 91* 91* 91*
Can Nat 4*s 67.... 17 92* 92 92
Can Nat 4*s 61.... 14 92* 91* 92*
Can Nor 7a 1 110* 110* 110*
Can Pac dab 4a 7 81* 11* 81*
CanPac 4Ha46.... 10 96* 96* 96*
Car CllnAOhio 6a 62 6 107 106* 107
Cantos Ga6aC6»..i 3 96* 96* 96*
Cent Pac 4a 16 89* 86* 88*
Cent Pac Ist 6s 90. . 6*loo 100 100
Chss A O Corpn 6s. 7 99* 98* 98*
Chea AO gen 4*a.. 2 94* 94H 94*
ChesAO cr 4*a... 22 99* 98* 98*
Chea A 0 4*B 91 A. 20 94* 94* 94*
Chi A Alton 3a.... 1 65* 65* 61*
Chi BAQ gen 4s 63.. 4 88* 88* BS*
CB A Q 4Hs 77 8.. 1 91* 95* 85*
CB A Q U13*a.... 8 83 83 83
ChIAE 111 gn 6s 61.. 7 75* 74* 75*
CUIGt West 4a 69.. 34 66 64 66
CMA St P Oan 69.. 10 80* 80* 80*
Chi MAStP 4*a B. . 3 90 90 90
Chi MiISPAPacSs76 20 89 88* 88*
CMSPAPac adj6ao3 58 76* 78 78
1 Chi St PAO 6s 30... 2 130 99* 100
1 Chi ANW ref 5a.... 12 101* 101* 101*
Chi AN W 6 *s... ~ 1 108 106 108
Chi AMW 7a 2 101 100* 101
1 ChlßlAPrf4a... 25 92* 92* 82*
Chi RI A P 4*5.... 1 88* 88* 88*
ChtTHASE6a... 1 92* 92* 92*
Chi Un Sta 5s 6 102* 102* 102*
Chi A W Ind cn 4a.. 60 86* 85 85*
CA W 15*862.... 6 102 101* 102'
CCC AStL 5s D.... 1 100* 100* 100*
Clav Term 6a 1 101 101 101
Cuba RR 7*B 2 99 99 99
i Cuba Nor 6*s eta.. 2 78 78 78
Del A Hud s*s 6 101 Vi 101 101
' Del A Hud 7s 30.... 2 101 100* 101
' Den A Rio Gcn 4a.. 12 88* 88* 88*
D Rio G West 6a.... i 90 89* 89*
1 DR G A Wat 6s 78.. 2 84 84 84
Erie lat cons 45.,.. 1 80* 80* 80*
‘ Erie conv 4s A..... 6 81* 814* 81*
Erie Gen 4s 35 76* 74* 74*
Erie cv 6a 67 24 92* 92 92
• Erl#conv Ex 7a.... 6 101 101 101
‘ Fla East C6s 74..., 8 68* 66 68
Or Trunk at db 6a..i 6 103* 103 103
Grand Trunk 7a... . 6 109* 109* 109*
1 Gt Nor 4*a E 3 93* 93* 93*
Gt Nor 6a » 2 101 101 101
Gt Nor 6 * a..... ..i 6 106 105* 106*
1 Gt Nor gen 7a../... 20 109* 109 109
Green BA W deb B. 10 27* 27* 27*
Hud A Man aj 6a.... 18 72* 71* 71*
> HudAMan ref 6a.... 7 91 90 90
111 Cant ref 4a 4 87* 87V4 87*
j 111 Cent rs 6s 56.... 5 102* 102* 102*
111-C-C-BtLANO 6a 2 101 100* 100*
Int Rapid Trans 6a. 86 65 64 66
, Int Rap Tr 6a atpd.. 6 65 68* 66
, Int Rapid Trana 6s. 16 68 58 68
, lot Rapid Trans 7s. 10 90 89* 90
, Int A O Nor Ist fa.. 7 100* 100* 100*
, Int A G Nor adj 6a A 7 88* 87* 87*
, Int Rya CA 6s 72... 1 75 76 75
, Int Rya CA 6s 41... S 94 94 94
IntßyaCACHarct 2 92* 92* 92*
, Kan City Ft S 4a.... 1 90* 90* 90*
Kan City S3s 2 73 73 73
Kansas City 8 65... 3 98* 98* 98*
Kan City Tarm 45.. 1 86* 86* 86*
, LahiVgen 4Ha 2003 9 92* 92* 92*
, Louis A Nash 6a B. 1 101* 101* 101*
, Louis A Nash 6*s.. 19 106* 105 105
Louis A Nash 75.... 28 101 100* 100*
Man Ry Ist 4s 90... 1 67 67 67
Mill El RyALt 4* a, 7 98 98 98
1 Mil El Ry AL 6s 61. 9 97* 97* 97*
Minn A StL ref 4a.. l 20 20 20
MStPASSMSe3Bgtd. 13 96 96* 96
M StP A SSM 6*s.. a 99* 99* 99*
MKAT4SB 86 80 79* 80
MK AT adj 5a 46 104* 103* 103*
MK AT pr In 6sA.i 7 98* 98* 98*
Mo PaclAo gen 45... 31 72 71 71*
Mo Pac 6s F 77 2 96 94* 94*
Mo Pao 6aG71.... 1 94* 94* 94*
Mont Term ref 6s 41 3 91 91 91
Montreal Tr 5s 866 2 93* 93* 98*
NY Cent 4a 42 1 96* 96H 96*
N Y Crf lm 4H5...< 1 95* 96* 96*
N Y Cen rs 5a 27 103* 108* 103*
NY C A StL dab 4s. 5 98 98 98
NY CAStL 4H* C.. 10 98* 93 93*
NY C A StL 6*a A. 7 102* 102* 102*
NYCAStL6H>B. 6 104 104 101
N YCAStL««A... 1 101* 101* 101*
New Haven 3*a 66. 6 71 71 71
NYNHAH4S66. 1 77* 77* 77*
NY NHAH db 4s 67. 2 76* 76* 76*
NYNH A H 4H*. • 20 86 86 86
NY NHAH cv db 6a. 29 133 132 182
NYRy6a A 66 178 H 78* 78*
NYRy6a 66 7 10* 10* 10*
NY State Ry4Ha.. 3 26* 26* 26*
NYBtateßy 6*562 2 80* SO* SO*
NYWAB4HS.... 1 82 82 82
Nor AS gen 5s 64.., 8 73* 78* 78*
Nor Pac ts 2047.... 1 68 63 63
1 Nor Pac 4a 8 86 86 85
Nor Pac 4Ha 8047.. 1 91* 91* 91*
NorPaarf 6a 8 110* 110* 110*
OgdenALake Ch 4a. 2 75 75 75
Ora Short Lrf 4a... 19 99* 99* 99*
Ore Short Lcn 6a.. 1 101* 101* 101*
Ora Short L6s gtd. 2 102* 102* 102*
Ora Wash Ist 45.... 6 84* 84* 84*
Panna gan 4Ha.... 18- 95* 91* 95*
Panna4*a63 4 96 96* 95*
1 Panna gan 6a 6 106* 105* 105*
Panna 5s 64 12 102* 101* 102*
Panna 6*s 7 108* 108* 108*
Panna gold 7a 8 100* 100* 100*
Pao AEIt 4s 40.... 2,81 81 81
Port El PL 65.... u .2 98 98 98
Port R LAP 6s 42.. 1 96* 96* 93*
Port RLAP 7*a 46. 8 106 106 106
Reading gan 4Ha ▲ 1 95* 95* 95*
K I ArkAL4*a... ' 4 98* 93* 93*
Rio GW Ist 4a 6 87 87 87
StL IMAS gn 6aSl.t 10 98* 99* 99*
StL IMAS RAO 48.. 11 92* 92H 92*
StLASFpMa A.. 121 84 88* 84
StLABP4Ha7I.. 12 84* 84H 84H
1 St LASFpr In 5a.. 15 98 97H 97*
StL S W con 4a 88. • 194 H 94* 94*
StLS W Ist 4s 2 81* 81* 81*
StL SW6a 62 2 93 93 93
1 St PUn Dap 6a...., 1 102 102 102
> San AAAm P 4a... 2 89 89 80
Scab AL 4s sta 2 65 65 65
Saab AL ref 4a 12 62* 62*. 62*
, Seab AL adj 6a 4*.. 10 66* 65* 6.6*
Seab AL con 65.... 78 78 72* 73
SB All Fla 6s 86 B. . 2 67 67 67
Sou Pao dt 48 27 87* 87 87
Sou Pao ref 4a.. ..» 1 87* 87* 87*
Sou Pac 4*s rcta.. tO 93 92* 92*
‘ Sou Pae 4*a69 ww 127 98* 98* 98*
Soußy gan 4g...... 18 86 86* 86*
1 Sou Ry con i 5...... 1 105* 105* 105*
1 Sou Ry l*s 1 117* 117* 117*
1 Soußy Mo AO 45.. 6 90H 'B9 90*
! Tax A Pao Is C 79.. 18 P6* 95 96*
i Third Ararat4a 60. 14 64* 63 64*
1 Third Ave Ist 6a... 6 91* 9i* 91*
Third Avaadj 65.48 39 . IS* 87*
1 TolTr LAP 6*aS«. 16 99* 99* 99*
1 Union Paa Ist 4a.... 4 91 93 IS
16 M* »«4 NH
STOCK PRICE INDEX
SLIGHTLY LOW
Market Recovers Partially
During Last Week After
September 5 Break.
BY IRVING FISHER.
Spatial Dispatch to The Star.
NEW HAVEN, Conn., September 18.
‘—The stock market did it lot of climb
ing, falling, recovering Snd receding
during the week. The mean price level
for the week was
only slightly below
that of the week
before but there
was a sharp and
rather general re
cession on "Friday
the thirteenth”
with only minor
recovery, leaving
the bulk of the is
sues at a lower
closing point than
the week before
after the recovery
from the "Babson
break” of Thurs
day the fifth.
Oils made the
best showing mov
ing against the
»' ■ 1
• .• '‘'M
Irving Flahcr.
general market weakness with strong
buying believed to be for the
forthcoming Morgan oil stock Invest
ment trust. The oils group closed 9
points above Its close of the week before
but 3',2 points under its high for the
week reached on Thursday.
The motors stocks hung most of the
week above the level of the week before,
raising their weekly index, but the
group closed off 3 points from the pre-
Un Pac Ist ref 6a... 8 106* 105* 105*
Virginia Ry Ist 6a.. 6 100* 100* 100*
Wabash Ist 6s 8 10IH 10!* 101*
Wbash 6*s 76 3 100* 106* 100*
Waet Maryland 45.. 25 74* 74 74
West Md 6*s 77 ... 3 92* 92 92*
Weat Pacific 65....> 2 95* 95* 95*
West Shore 4a 41... 1 88 88 88
WhaalALErf 4*a. 80 84* B<H 84*
For a Safe Investment
REAL ESTATE NOTES
Secured by
High-Class Improved Properties
Competent Appraisals
6%
Interest
Consult *
WE^ERBROC
U REALTORS vJ
809 15th St. N.W. District 9486
Equitable Co-operative Bldg. Ass’n
JOHN JOT BOSON, President WALTER S. PRATT, Ir, Secretary
Organised 1*79 49th YEAR COMPLETED
Assets 95,475,899.19 Surplus * Prbfits f1.495.894.9i
Snbfcription for the 97th lime of Stock Being Received
SAVE AS
Ss9.\ YOU EARN
rrHE Equitable’s plan of sys*
C PER > 1 tematic savings encourages
\ share s thrift in a manner that if con
sistently followed will even
tually lead to financial inde
pendence. Start now while
you have a steady income.
Come in and let us explain
about our systematic plan.
915 F St. N.W.
Complete Investment
and
Brokerage Service
Copy of ssr "Fortnightly Review"
furnished on request
G. M.'P. Murphy & Co.
Members New York Stoeh Exchange
1508 H Street Connecticut at K
WASHINGTON
Telephone National 9609
• New York Philadelphia Richmond London
Private Wires and Telephones to New York
l i i mSSSSSSSSSSSSSSSm i n wrr——■s
Exempt from All Federal Income Taxes
Wa raeommand and offar, aubjact to
£rior a ala and change in
To Yield
Chicago Sanitary District
* Bonda ... .. ■ • .5.00%
State of Tennessee
4 Bonda ... .. :»:*nfeonur*sm<aae*-< .. .4.60%
City of Detroit
4V 4 % Bonds • • 4.60%
City of Los Angeles
4 V2VO Bojids rnosiax*'* • .4.70*4.65f0
Passaic County, N. J.
5 % Bonds .. .am •AMMOMm.* .4.604.50% .
New York City |
4 1 /i% Bonda « iaw.l .nii'm >:».»«» ».4.35% H
Guaranty Company of New York
Washington Office: 811 -15th Street, N.W.
.Telephone: National 5818
• • ■>
ceding week's close. j
The coppers group Index Is the same
for last week as for the week before, but
the group closed off 6‘/ 2 points from its !
preceding week's close,
points from Its preceding week's close.
The steels group closed 20 points be
low Its high made on September 3.
Os the 320 stocks used in the indexes
161 closed last week lower than the
week before, 84. were up, 75 were un
changed.
The heaviest declines of individual
Issues were Oeneral Electric, Westing
house, du -Pont, Allis Chalmers, United
States Steel and Columbia Carbon, with
losses ranging from 12 points to about
twice that.
American Machine Sc Foundry, with
over 50 points gain; Standard of New
Jersey, with 14, and Case Threshing,
with over 80 ■points advance, were some
of the sensational Jumps recorded In a
confused and confusing week’s activity.
The compact survey of New York
Stock Exchange movements of common
Industrial shares is given below in
price Indexes (1926=100). There are
two Indexes of market price movement.
The first (“shares outstanding”) repre
sents all common industrial shares
listed on the exchange, the Importance
of each stock being considered accord
ing to the shares in existence or out
standing. The second Index (“50 lead
ers”) shows, the price movement of the
common Industrial stocks most heavily
dealt In during the week, this list
changing weekly with the shifts in
trading popularity.
The “shares outstanding” Index
shows what a substantially representa
tive SIOO worth of stocks In 1926 would
now amount to If held unchanged since
that year. The “50 leaders” Index
shows the result of reinvesting the SIOO
every week In the market favorites of
that week.
’ The last column of the table gives
{he rate of return on the week’s St)
eaders at current prices.
Shares 50 Rate
out- market of
standing leaders return
Week ended—
Sept. 13.... 209.4 1,148.9 2.5%
Sept. 6 209.7 1,134.1 2.7%
Aug. 30.... 208.6 1,111.4 2.6%
Year ag0.,.. 155.3 466.3 2.9%
. Aug. av 200.5 1,038.3 2.9%
July av 194.1 949.2 2.8%
1928 av 147.4 407.5 3.1%
1927 av 114.6 175.4 4.3%
1926 av 100.0 100.0 6.0%
Hlgn (’2B-’29) 209.7 1,134.1 4.0%
(Sept.'29) (Sept.’29) (Jan.’2B)
1 Low (’2B-’29). 125.1 253.9 1.8%
(Peb.’2l) (Feb.’2B) (May’29)
, (Copyright, 1*29, by Irving Fisher.)
Mortgages Investments
JAMES Y. PENNEBAKER
Nat. 5291 1520 K St. N.W.
Associated Gas and Electric Conpaay
#Dirifeaf Re. 13 ee Clan A Stack
The Board of Director* hu
declared the regular quarterly
dividend on the Close A Stock
parable Noremoer 1, 1929, in
Cbua A Stock at the rate of l/40th of
one aha re of Class A Stock for each share
held of record at the dose of haainaw
BaplmlnT SO, 1929.
On the basis of the current market price
for the Class A Stock of about $99 per
■hare, this dividend yields a return of
about 94.99 per share per annum.
Scrip for fractional shares will not be
delivered, but will be credited to the stock
holder's account until a full share has
accumulated. Stockholders can purchase
sufficient additional scrip to complete fall
abases.
Payment in stock will be made to all
stockholders entitled thereto who do not,
on or before October IS, 1929, request pay
ment in trsth
M. a omm, Secretary.
September 12. 1922.
We have prepared an analysis of
National Cash Register Company
which contains a comprehensive
survey of this Company’s record
and present position.
Copy upon reaueat
* I
M. J. MEEHAN & COMPANY
Members New York Stock Exchange
61 BROADWAY *EW YORK CITY
NEW ISSUE
200*000 Shares
Claggett Stares Corporation
(A Delaware Corporation)
Capital Stock
(No par value) fc
The Corporation has an authorized capitalization of 250,000 shares without par
value, all of the same class, 200,000 of which are to be presently outstanding.
Tb> Corporation baa no tnnlil debt er preferred st—ft.
The Corporation bto eater into e coo tract with Strabo V. Oanatt ft Co, letaa baskets, pamaeM tewhkhffie Inks
am to be entitled to acquire iron*, or etil iar, the Corporation up to 200,000 aharaa of the Mach es the
Corporation, on or before October 1, 1929, at a price to provide the Corpaeatma
with a net working capital of not Uaa than #5,000,000.
Transfer Agent: Registrar:
NATIONAL SHAWMUT BANK STATE STREET TRUST COMPANY
Boston * Boston .
For further information regarding the Corporation and its common stock, attention is called to the letter
of Mr. Strabo V. Claggett, President of the Corporation. The letter has been tmnmmiatd m follows: "
Bunneszi Claggett Shares Corporation has been organized by Strabo V. Claggett t Co,
Inc. under the laws of the State of Delaware, with broad powers to acquire, held,
sail and generally deal in securities representing various lines of business, its investments* not
bning restricted to any particular field. The Corporation, through'its portfolio of sound securities,
will afford investors participation in the appreciation and profits of such securities Claggett
Shares Corporation provides the opportunity to share in stocks listed on the New York Stock
Exchange. New York Curb Exchange, Philadelphia Stock Exchange, Boston Stock Exchange and
other markets. ' *
The of Strabo V. Claggett St Co, Inc. as Managers of Claggett Shares Corporation era
varied, and there are several ways in which die former can help create profits for stockholders, as
follows:
L By the underwriting and sale of securities 3. By participation fat syndicate* formed by
of specified Companies requiring additional other Investment Banking firms,
working capital
v 2. By effecting consolidations of allied indus- 4. Our Statistical Department is eqnipped
tnes in order to secure greater efficiency in analysis and research work ia
£*£SSE’“Arabs’•«»*«, , a™. cmmtonmu m*.
the stocks. only after mature consideration.
A The contract between Strabo V. Claggett St Co, Inc, and Claggett Shane Cor*
Atrccmcnu poration provides that the former will manage the Corporation on the follow
ing bans:
L After |2. cumulative dividends are paid 3. The bankers will receive options to port
each year to stockholders, a management chase one share for each four shares sa
fes of 15% of the net profits will be charged. quired or sold by them at S3O. a share to
* ogjj- 1 —*vw ss^gsasssi 1 *- •*”-
Doctor.,.,
The Board of Directors of the Corporation which will include men from our own organisation,
trained and experienced in Investment Banking, follow:
STRABO V. CLAGGETT, President *
» ■(., Strabo V. Cl«(S«tt ft Co, Inc. —Bow on an# New York Tnaaarav, Oiamirut ft Caaaaric Ce* *
Pmaidam, Strabo V. II oUmWO. Matropolhan Driry Product* lac ?
HOWARD O’CONNOR, VUc-Prndcnt °
c aSs£3»h v. rf'gn «C, h, ru-* v
ESwasstf*:j&. CH s^ H g^s^'s?arM-..
Parawrty N. W. Manager, S. W. Straoa * «-•. Formariy Chairman, Damecvaric State finaleii ai
MANK c. DIEM Maaoarfcneefte.
* Vica-Praaidant, Stmbo V. Cassatt ft Co, Inc, JOSEPH M. LYDON .
. uw, w asrJSiiiVsfASa.'a
Bo Sam, N. Y. JOSEPH F. CABBY _ _
BARTON B. OUIRK Steaba y.Oipw B C*. lufc, Baaiau, Mate
Seat* V. Gaiiatt ft Co, be, FUlritkUq A Formariy Urndte Edka* oI Baatan CiteteirrM. S
YLciPrrrP--r»- 1 11— 1 Indoatriri Cory. financial nawapapar.
[ v I' ■ i ,
The Corporation agrees to make eppßcxtion to list this issue on
The Boston Stock Exchange and the New York Curb Exchange.
Price Upon Application
Ttae shares are offered whan. « and If atcefvod bp m, sOjsct to tba approval at mss caunteL
Strabo V. Claggett &) Co., Inc.
w-jLuiTJL WMhlagum Boildtaf mLAOBtpnA
mw YORK WACWNOTON BUFFALO
NAtional 7610
Tha la forma tlou herein, while not |uareatee4 baa bam woriwad ton laari. n which wt Wiavo to ha iri labia.
Jlnpaaßßßßß^nssssi^si^Baaßs^Baßßai^anoamommmMl
FINANCIAL.
Money to Loan
Secured by flrit deed of trust on real estate.
Prevailing Interest and commission.
Joaenh I Weller 4,0 Wash. L. * Trust
.tosepn i. wetter BM( „ B , h t r N , w .
W' First Mortgage Loans
Consult Us Regarding Your Maturing Mortgage or Any
Real Estate Financing Problem.
We make 3,5 and 10 year loans on houses,
apartments and business property.
Located in Washington , nearby Maryland
and Virginia
RANDALL H. HAGNER & COMPANY, INC.
1321 Connecticut Avenue N.W.
Decatur 3600
Mortgogo Loan Correspondent
- New York Life Insurance Co.
15
First Mortgage Loans
Lowest Rates ot Interest and Commission
Thomas J. Fisher St Company, Inc.

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