Oakland Tribune from Oakland, California on May 14, 1924 · Page 18
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Oakland Tribune from Oakland, California · Page 18

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Oakland, California
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Wednesday, May 14, 1924
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Page 18
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WEDNESDAY EVENING a&IanD Crf&une MAY 14, 1924 pA "STOaS-BONDS - COMMODITIES TRADE NEWS OF. WHOLE WORLD HOUR BY HOUR PRICE CHANGES Lonri SUPPLY OF LEAOff San'Jrancisco w STO G KBON D EXCHANGE J3X Special Wires fromVYkCavalievS "SSSff. , 5anc7rancisco w , STOCK EXCHANGED Spacial wh o Setvtee to 0kUodTribune XlSftl MADE FOR NEW 13 OFS685.000 nrnuiiiiiiPTni rp OFFICEBUILO Huge Structure of 10 Stories, Will Be Started on Upper Broadway. ' Immediate construction of a' new i business structure on Broadway, the Ray Office Building:, is assured by n announcement made today by S W, Straus AY Co., that a bond Issue f f (85,000 for this purpose has been underwritten by that Investment banking: house. The new building: will represent an Investment of ' $1,125,000. It is the property of Flak M. Eay, president of the Up- Town Association and well known bs Oakland's business circles. ' The new building will front 3 feet on the east side of Broadway Immediately north of the ..Tapscott building- at Nineteenth street and Will rise ten stories high. Adjoln-- Ids on the north is the site of the ew Orpheum Theater and next beyond ts the Broadway and Twentieth street corner soon to be occupied by the new Elks Club building-. The Ray Office building- site Is 200 feet deep and Includes a 25 foot frontage, 100 feet deep, on Franklin treet. SPACE APPLIED FOR, With stores occupying- the street floor frontage, a portion of this and the mezzanine floor and the nine upper atories will be devoted to offices. Oakland's rapid commercial development has created a demand for more office space which has long been Insistent and more than one-fourth of the floor space of the building- has 'already been reserved and It Ja expected that the entire area will be absorbed by current demand by the time the building is , ready for occupancy. It has been designed by Willis Lowe, architect, I and Clinton & Palmer will superintend construction. Parking space in i tha rear and a basement garage, reached through the swanklin street V frontage, will accommodate tenants and visitors. This new structure will be the seventeenth business j building to be erected In this north Of Fourteenth street since 13E1. It I la estimated that more than $6,000,-00 has been Invested in this area I la new construction in the past two years. 1 Among tha buildings which have . already been built in this vicinity ' are: Roos Bros.' building. Golden : State building-, Fox Theater, Reich Llevre building, - Smith - Bros.' l building, Lyons building, Tapscott building,' Hassler building, Thos. i Day building. Heron building, Dorach building. Whitehead build-; Ins;, Press Club building, Oakland j Examiner building, and the Medical ! Arts building; the latter is security i for an S. W. Straus & Co. bond issue t $375,000. ' BIG STRUCTURES. The Elks Club building and the ' Orpheum Theater are estimated to eost $1,000,000 each and several ' ether new structures are projected - er under construction in this newer uptown business district among them being the Wakefield building Bow under construction on Seventeenth street between Broadway and Franklin street, Connolly building a Nineteenth street between Broadway and Franklin Street, a new betel at Nineteenth and Franklin streets, a studio building on Broadway north of Seventeenth street, . two buildings projected by the Owl Drug Company at Telegraph and Sixteenth street and on Fifteenth between Broadway and Franklin street and the Builders Exchange building at the northwest corner of Webster and Hobart streets. A recent survey of office accommodations in Oakland conducted by the Up-Town Association discloses - a current demand lor aesiraoie or- - floe accommodations amounting to twice the available floor space, al- ' though a large area of office space has been opened within the past few months. Daily, increasing volume , of newcomer commercial and manufacturing concerns is promptly ab-. aorblng such accommodations ' as fast as they are created. ' This is the thirty-ninth building f major type on the Pacific coast ' and the third In Oakland to be i financed by S. W. Straus & Co., the others being the Regtliui Apart-I mentg and the Medicul Arts build- in. Several olliei- building projects of importance in this city are now j under investigation of which an-I aounceni'iil will probably soon be - made. LISTED BONDS. Bid. Ask. Am Factors, 1st m '36. ..103s;, 103 Asso Oil 6s gen '35 .... 98 98k Bay Cos P 1st m l) '30.. .. Cal Cent G&E 1st m 6s. . 9! Cal El Gen 1st mt 6s '41 .. Cal Gas & El gen 5s '33. . 95 Cal Gas & El unit Es . . 97 Cal Haw Sugar 105 Cal Ore Power B 6s '42.. 99 Cal Ore Power 7tti '41. 107-44 Cal Pet 6s 97 Cal St Cable 6s ser '27 Cal Tel & Light 101 101 City Elec 1st mtg 5s '37. 94 .. City Investment 6s .... 94 Coast C LSIJ 1st m 5S '46 .. East Bay Water 5s .. .. First Fd Tr 1st m 6s '43 .. Gen Pet 6s notes.,..... 96 Gen Pet let 7s 105 Gt West Pwr 1st m 5s '46 92 Gt West Pwr cB 7s . Home T&T of Sd 5s '36. 93 L A Elec 5a '28 L A Q & R 6s 1934 L A G E ref 5s 1939. . . . L A Gas & El A 7s '26.101 L A Gas & El B&C 7s.. 103 104 u A Ky 1st mtg 6s 88. . L A Ry Corp 6s "40 ... . L A Pac R R 6s '31 L A Pac R R Ref 6s '43 Market St 7s Miller & Lux st 7s '.10. Natomas Co of Cal 6s . Nor Cal Ry 6s '29 ' Nor Ry of Cal 5s '38 . . Nor Cal P 1st mt 5s '32. Nor Cal Pwr ref 6s '48. Orpheum T & R 6s '46. Pacific lias Imp 4s 30.. .. ...... Pac Gas & Elec B 6s ..101 102 Pac Gas & Elec C 5s.. 95 .. Pac Gas Klec 5s '42.. 91 Pac Gas & Elec A 7s. Pac El Ry 5s Pac Tel & Tel col Es . . Pac Tel & Tel ref 5s . , Paraffine Cos 7s '24 . Paraffine Cos 7s '25.. Paraffins Cos 7s zfi . Paratfine Cos 7s '27 . Paraffine Cos 7s '31. Paraffine Cos 3s '32. Paraffine Cos 7s '42. .105 Sac El G & Ry Es '27 J Lt & P 1st mt 5s.. 96 J Lt & Pwr s A 6s ...101 J Lt & Pow R 6s .... 98 J Lt & Pwr m C 6s 99 S J S Clara RR 4s '46 Son Cal Gas 6s 'EO.votr S P RR of Cal 5s '37.. 1 .. S P Branch Ry 6s '37 .. S P RR 1st ref 4s '55 86 S P Co 20-yr 4s '29 .. S P Co 20-yr conv Es '34 .. S P Co C P stock 4s "49. . .. S P Co 8 F term 4s '60. . Sperry Flour 6s 92 Union Oil 5s '31 97 Union Oil 6s 1492 100 United Gas & El 6s '32.. .. Val Cos Pwr Es W est Pac 5s. . . Bid. Ask. 99 97 105 99 108 98 95 88 97 105 93 97 104 99 . . !l00 10! . 46 46 .'inn . 98 99 . 95 .. . 97 98 99 98 98 ..106 .. 85 .. 98 '.' 91 ..101 ,.101 " ! 1 6 4 .104 107 102 lfi 91 97 99 100 87 101 101 95 69 100 170 84 Wilson & Co 10-yr 6s '28 50 100 85 65 American Exports I ' Show Big Gains VASHINGTON, May 14. (Inter-natlonal News Service.) There was a heavy increase in American exports and a heavy decrease In im-orta for the ten months period endue; May 1, the department of commerce announced today, i Exports Increased $350,321,000, While imports decreased $110,108,000. Total exports for the period were 11.670,838,000; imports, $2,977,077,- 0. Three Billions Stole by Sale of Wildcat Stock TVW YORK, May 14.-More ; than three billion dollars have been stolen from the American people since the war through the ale of spurious securities. District Attorney J. H. Banton declared at ihe annual meeting of the New York Slate Society of Certified Public Accountants tonight. Ban-to said he derived his authority from this statement from the Department of Justice. "Complaints in my office show thit so-called reputable brokers in Wall street manipulated the prices of the securities of one corporation so that they were able to unload upon the gullible public to tha tune of $14,000,000," the district attorney asserted. - INVESTORS who would like to know the records and -biith andlpw 1 pricesof stocks anil bonds over a porlod of years will be mailed "The- Investor's rocket Manual" free by Geary, J'eigs Co, 115 Montgomery F t reef, Pan Francisco. Phone Gar-Umd W0. . STOCKS. WATER BTOCKS. East Bay Water A pfd.. .. 87 East Bay Water B pfd.. 73 . Spring Valley Water ... 86 87 GAS AND ELECTRIC STOCKS. Calif Ore Pow pfd 95 Gt Western Pwr pfd 97 L A Gas- & Elec pfd 90 Northwestern Electric .. 22 Pac Gas & Elec 1st pfd.. 88 88 Pac Gas & Elec com 92 Pac Lighting Corp pfd.. 78 80 Pac Lighting Corp com S J Lt & Pwr prior pfd.. 98 .. S J Lt & Pwr pfd S J Lt & Pwr com 27 . .' Sierra Pac Elec pfd 77 Sou Cal Gas pfd . . Western Power pfd , , Western Power com . , RAILROAD STOCKS. Mkt St Ry prior pfd Mkt St Ry pfd 21 Mkt St Ry 2d pfd, Mkt St Ry com S F-Saeramento pfd S F-Sacramento com . . INSURANCE STOCKS. Firemen's Fund Ins ..... Home Fire & Mar Ins.. .. 26 Title Ins Guaranty 176 BANK STOCKS. American Bank .. Anglo Cal Trust Anglo L P Nat Bank ..155 .. Rank ef California N A. 200 201 Bank of Italy 228 230 Centl Nat Bank of flak 201 First Nat Bank of S F.210 French-American Bank. . .. Humboldt Bank 198 200 Mercantile Trust ' 250 Wells Fargo Un Trust.. .. 197 SUGAR STOCKS. Alameda Sugar 8 9 Ealamha Sug pfd 77 77 Calamba Sugar com Haw Com Sugar 44 46 Hawaiian Sugar.. 33 35 Honokaa Sugar 2 3 Hutchinson Sugar Pltn.. 12 Oahu Sugar 34 35 Olna Suerar ; 6 7 Onomea Sugar 42 45 Pauuhau Sugar Pltn .... 12 13 Pioneer Mill 28 29 Union Sugar pfd 26 Union Sugar com 23 24 OIL 8TOCKS. Associated Oil 28 28 Cal Oil & Can Calif Petljm pfd Calif Pet com Gen Petlm pfd 24 Gen Petlm com......... 39 39 Honolulu Con Oil 2.12 .. North Amer Oil 1.67 1.70 - Pacifc 01 45 4 6 Pan-Amn Petlm & T com .. Pinal Dome Oil Shell Union 16 14 Standard Oil 66 sterling Oil Dev 8 .. Texas Cons Oil Union Oil 115 n. Union Oil Assn 57 .. United Oil , .. West Coast Oil pfd ... MISCELLANEOUS STOCKS. Alaska Packers Assn 160 Amn Gold Dredging C L Best Tractor pfd. ...110 .. F 13 Booth pfd . . Cal Cotton Mills pfd Cal Cotton Mills com .... Ca'lf Copper 1.82 1.37 Calif Ink pfd .. Calif Pack 12 .. Federal Telegraph 5 .. Hnwallnn Plnennnle 62 Haiku Fruit & Pkg pool. 23 . 24 Haiku Fruit & Pkg free 24 .. Holt pfd ............... 95 ., .Tudsou Mfg 60 ' . . Magnavox 2.50 .. Natomas Cosof Cal pfd Pac Am Fire Alar-n .. Pac Tel & Tel pfd Pac Tel St Tel com ........ Pac Tel & Tel rights ... lc Ec Paraffine Co pfd 87 Paraffine Co com 68 Sperry Flour pfd ...... .. Sperry Flour com 87 46 Telephone Inv Corp .... 20 milSTED BOND. tJid. Alameda Farms 6s Amalgamated Sugar 7s. 102 R:iv Co Pwr 2nd 6s. ... Calamha Sug Estate 6s.. 87 Calif Northwest 1st 6s . . 98 Cehtrl Cal Crnjra 7s '31 .. Centrl Cal Traction Es Central Cal Traction ctfs .. Columbia Steel 7s ...... 96 Cons Klec 5s East Bay Watr 6s '42-44 99 East Bay Water 7s ,.105 Fairmotint Hotel 6s 37.. .. Gen Pet!m cinv 6s. Gt Western Pwr 8s '36.. 107 .. Gt Western Pwr 6s '49 Gt AVestern Pwr 6s '62.. 98 99 Gt West Pwr 6s '25 deb .. Holly Sugar 7s 98 Key System 1st m 6s Kev System -ref Es '38.. 76 76 Key System ref 6s '38... 82 .. Key System Securities 6s 75 L A Gas & El 6s '47. . . 91 92 L "A Gas & Elec 5s '43 91 .. I, A Gas El 6s '42 .... 98 U .. Alt Whitnel Pwr & ETSrrnt Orpheum Circuit 7'As Pac Lt & Pwr 1st 5s '42 Pac Lt K- Pwr 1st r 6s '51 .. Pac Mills. Ltd Polnce Hotel 6s 100 101 Paraffine Cos 6s '42 Realty Syn "B'' bonds Sac Val Pwr 1st 6s San Diego Gas & E15s '39 . . San Diego Gas & El 6s S F G & El 4s callable 92 94 S F G El 4s non-call .. S F & S Joaq Val 5s.. 100 W, .. S Joaq Lt & Pwr 7s '61..10.i .. S Joaq Lt & Pwr B 6s '52 1)8 98 fania Barbara Tel Es Santa Cruz P Cement Ss. . . Sierra & S F Power Es . . 86 87 Sierra & S F P 2d 6s sA . . 66 Sierra : S F P 2 Es sB.. 63 66 South Pac Coast 4s Southern Cal Cement 6s. .. Sou Cal Edison g & r 6s. .. .. Sou Cal Edison 5s '44. ..101 Sou Cal Edison 6s '43... 101 101 Sou Cal Edison gen 5s '39 96 . . Sou Cal Gas 6s '58 .... 96 97 Sou Cal Tel Es Sou Counties Gas 6s 91 Spring Val Water 5s '43 95 .. Standard El 1st 5s Stand Oil of Cal 5s '24 -V Stand Oil of Cal 6s '25.. 100 Stand Oil of Cal Es '26.. .: Stand Oil of Cal 5s "27.. .. Stand Oil of Cal 5s '28 Stand Oil of Cal 5s '29. Stand Oil of Cal Es '3$. Stand Oil of Cal 5s '31. Stand Oil of Cal 5s '32. Stand Oil of Cal Es '33. Theo It Davies & Co 7s. 102 Union Oil of Cal 6s '26.100 West States Gas 5s '41.. .. West States Gas 6s '3s. ., West Stiites'tTas 6s '47.. . oYsemite Val RR 1st 5s. 56 I'NMHTKD STOCKS. CEMENT STOCKS, Pac Portland Cement Ttiverside Portland Cem. .. faanta Cruz Port Cem. ,.1 0B GAS AND ELECTRIC STOCKS, Cal Ore Power com 12 Coast Gas & Elec 1st pfd .. Coast Gas & Elec 2d, pfd 62 Midway Gas com Northwestern El 7s pfd. 95 Sou Cal Edison 7s pfd .. .. Sdu Cal Edison com ... INSURANCE STOCKS. West Coast S F Life ... 2 West Coast rights Western States Life 18 BANK STOCKS. Central Sav Bk of Oak.. .. First Natl Bank of Oak. .. Furazl Bank Italian American Bank.. 158 Oakland Bank of Sav .... S F Savings & Loan..... 45 United Bank & Trust. . . .160 RAILROAD STOCKS. Key System prior pfd... .78 Kev Svstem nfrt 9c I Western Pac pfd 61 U Western Pac com 17 SUGAR STOCKS. Ewa Sugar ' Honolulu Plantation ... B8 McRryde Sugar . W'alalua 84 Waialuka Sugar OIL STOCKS. Claremount Oil Cons Mutual 6c Holly Development 30c Holly Oil 3 M .T &-M Cons Oil ..... 5e - Palmer Union Oil pfd Palmer Union Oil com.. ... Transcontinental OH ... 3 U S Petlm of Cal U S Petlm of Wyo 1.72 1.00 Ventura Oil MISCELLANEOUS STOCKS, America :i Factors .. Alhers Bros Milling pfd. .. -. . Bancitaly Corp .. Cal Wine Assn com .... 42 .. City of Paris pfd City of Paris com Columbia Steel com Cypress Lawn Cemetery. .. .. Durant of Calif East Bay com 250 Goodyr T & R of Cal pfd 91 Holland Land SO 63 Matson Navigation ....... Orpheum Circuit pfd Orpheum Circuit com ... 18 19 Owl Drug pfd Owl Drug com ,, ,, .. Virden Packing com .... .. . , Western Water Co Zellerbach Paper pfd ... 97 89 Zellerbach Paper com By r s. SCOTT. The atock market both in Santemment 6's were lower, presumably 165 80 26 62 18 35 32 4 0c 4 Francisco and New York continued reactionary today. In San Francisco the business was scarcely worth recording, while In New York about TOO, 000 shares changed hands. All the California oils were weak and transactions Were a point lower than yesterday's closing in most cases- Further declines in the price of raw sugar in New York was reflected in fractional declines by many of the Hawaiian sugars. The outstanding feature of the local market was a Jump of Best Tractor preferred just before noon to above 110. Eastbay Water preferred gained a point and all utilities were firm. More than a score issues sagged to new low pricesfor the year in New York. Baldwin headed the downward movement, reaching new low ground for the year, while new lows on the movement were reached by Steel, American Can and similar speculative favorites. On the other hand, distinct strength was shown by some of the representative railsunder the leadership of Atlantic Coast line, While P. and R. Coal and iron had a substantial run up of five points on heavy - transactions. These demonstrations proved unavailing, however, in the face of the persistent professional attempts to mark the industrial stocks Vlown. in reflection of the reports. Arrangements recently concluded for a short term credit of $10,000,-000 for the Swedish government, may be followed by an offering of long term bonds, exceeding the amount of the temporary loan. Strength of Swedish exchange supported the view that that government might enter the market at an early date. Speculators found a vulnerable spot yesterday among the rubber companies and Kelly Springfield common got down to a new low as there were revived intimations of some new financing. Lee Rubber and Tire also got down to a new low for the year and Incentive for pressure against this issue was found In the unsatisfactory statement of earnings. . Even at this 'early date estimates are being made on the steel corporation's probable statement of earnings for the June 30 quarter onrt ihtv Indicate between $45,008 000 and $48,000,000 as likely to be shown for net. That tne extra dividend is safe seemed to be good opinion among persons closely following the affairs of the big industrial. The cancellation of steel orders to the extent of 150.000 tons was regarded as the dominating factor through which all prestatement forecasts were far wrong on the April showing of tonnage conditions. . General Asphalts net earnings Losses of approximately a Doint i reach were registered by Punta j in the first Quarter of 1924 werel" TJ Aliegre, Cuban American and I Jlj-SS2 compared with i a .deficit fH-tirhenm T & R 6s 11)49.... Cuban Cane Sugars, the first trof 1923. It waV announced the named touching a new 1924 lbw comDany intends to retire all of the at 521b. Dupont broke nearly $872,000 6 per cent debentures out-three points to a new low at 115rb. standing on or before .maturity Foreign exchanges opened firm. April 1, 1925, out of current assets. Orders for the purchase of 200,- Indicative of a strong demand for 000 "barrels of gasoline for spot de livery are DeinK piaccu amwuK im-Vontlnent refiners by the Standard Oil Company of Louisiana, a subsidiary of the Standard Oil Company of New Jersey. An order of this volume in evnpcted to relieve the pres sure on small refiners who have had sound Investment securities, public sales of electric light and power securities to the value of $92,950,000 were offered by Investment houses during the month of April, according to Electrical World. Tho fln-uro io thA hlo-liest reached ! to store excess gasoline through re during any month of the year and .j tarding sales caused Dy earner represents an increase of more than ' conditions wt Porter $27,000,000 over that recorded for i' rir.',.. director,, of the April, 1923. The rate of return ! Mgouri pacific railroad to replace yielded the investor, which has ; EliE!,r t,. Marston and Harry Bron- been on the decrease since February, ner. Others directors were re took an upward turn during the elected.. last month, reaching the 6.37 point. As Famous Players announced T.ono- term aeciiriHea eont nue to maintenance or us mil aivinenu j t .t rate, snort covering aeveiopeu preaom.naie. " the shares but price at which this vldual offering was' the issue of $g Btock sod was neld to be out of lZ.DUU.UUU in goia uunu ui mo ' Pacific Gas & Electric Company, I-ISTEU SAI-ES. 2000 Cal Petroleum 63 .. 1000 Associated Oil 6s 1000 Market St s 1000 Los Ang G & El '5s '29 1000 Cal G & El gen mt 5s 1000 Pac Gas & El Es 600 Liberty 3rd 4s 100-21 20 East Bav Water "A" pfd. 85 35 Spring Valley Water ... . 87 35 Spring Valley Wrater N44 87 75 Pac Gas & El 1st pfd.. R8 5 Pac Gas & El com 92 25 do 92 100 Gen Petroleum com V." 200 do pfd . . J. . 1000 N American Oil 800 do :. 20 Pacific Oil 100 do i 100 do 60 dO'"'TV. ... 15 do 150 do 10 Shell Union com ..... 17 do 10 Std Oil of Calif 60 Calif Packing EO do 300 Federal Telegraph ... 1018 Pno Tel & Tel rights 41,1 do 50 Bank of California .. 10 Bank of Italy 95 C L Best Tractor pfd 26 do , 100 Pacific Lighting pfd . STnUHT SALES. 2T.0 C L Best Tractor pfd. 170 do ,. . o UNLISTED SALES. 100 Key System 2d pfd 26 7000 Cons Mutual S-9IK 6c 10 Pac Portland Centent ... 99 12000 Spring Valley 5s . 95 1000 Los Ang G & El 6s'42.. 98 2000 S Cal Edison 6s '42,. ..102 SUGAR MARKET 97 98 99 97 99 91 . . 39' . . 24. .1.67 .1.67 .. 46 . . 46 . . 46 .. 46 ..66 .. 45 .. 17 . . 16 .. 66 .. 82 . . 82 .. 5. . . lc . . lc . .200 . .228 ..109 ..109 .. 78 . .108 . .108 offered at 96 and yielding 5.78. - C. L. Best Tractor Co. 7 per cent cumulative preferred stock continued to attract the lion's share of attention on the San Francisco Stock and Bond Exchange yesterday. During the afternoon session 80 shares sold at 106, 30 shares at 107. and 25 shares at 107. Tne Jine with other industrial issues. The yield was figured at about li per' cent, which, for Investment purposes, was considered,, too high. Thoughts similar to those now prevalent have been heard for. the past year or more, yet the management has continued its disbursements which, however, have not had much influence on the stock itself. The fact that Mack Truck had greater orders and deliveries than a -ioir,ir hid wa 108U with no stock . year ago was officially made known ana irom tnis oriei statement tne street found some encouragement to offset unfavorable observations to which ft had been listening in regard to the automobile industry in general. Establishment of Glen Alden Coal on a $7 dividend basis gave heart to offered. The stock has been called as of June 1 at par but carries with it the privilege of exchangins into Best capital Btock, one share of preferred for two shares ($50 par value of capital stock. The capital stock 1s now on a 10 per cent annual dividend basis and sales on the exchange reflect a growing ap- ' commission houses which have been oreciation of the exchange privilege : advocating for study other coal carried by the preferred. Holders Properties lately divorced from rail-of the preferred are now' depositing road affiliations. Reading and Le. their stock for exchange at the hlh Valley were foremost in this Bank of California. N. A. The priv- consideration and again the poten-ilege of exchange expires June 1, tial dividend worth of tlfese com-' 1924. 1 panies was discussed. J '- All directors of the St. Louis-San The major oil pools are declining rancisco Company were re-elected at the stockholders' meeting today, ine airectors will elect officers in and unless a new pool is brought Intn nrntiitlrtM tViln c, y Wrnfto ,,.111 have to be made on storage. F. W.J New York in about ten days, Marland, president of Marland Oil, Stewart Warner Speedometer Cor. told stockholders at their annual Poration reports net profit of $1,- meeting today. Production and con- 7H'';700 for the flrst quarter of sumption were now on a balance and S24, eo-ul -to $3.15 a Ehare on its tne inriustry Had not entirely re- i ' . vmu? jjiuuiv, aKuinst x,o&i coverea us earning power, he as . I sorted. Net income of the company j and its subsidiaries In the first! quarter was $2,892,837 after deduct ng JiJi.37 for depreciation, de Ask. 90 97 99 105 The California mil Hnworiiin Siutar Refining Corpfiratlon aootoi C. II. ucar Dr 100 lb, as followa: Cane. irrHmilnteil hssla.. $7.80; berry xran slated, fine utandnrd sranulatcit. coarse (rranulate1, pnnfertlonera' A, confectioner?' AA 87.TO: XXXX powdered. 88.05: XXXX powrtVrert (In fiber container. 24 1-lt. car-tnnn). (1.?,0: -dessert. $.05: deasert (In ffnber containers. 24 l ib. cartonil. S0.30: cnhei. enbeleti, fJ.M: cnheleta (In caaea 12 5-1b. cartonai. aolld ia-k. fo.so: cubeietj fin ease, 30. 2 lb. .cartons), nollrt pack, $P.fl-- Brown (In fiber enntnlners. 24 l-lh. cartons). $8.80; Extra C. $7.40: Golden C. 7..TA: Yellow D. $7.20: "Alameda" Beet. $7.00. Weatern Sonar Refinery Quoted per 100 in, in baits as roliows: Fruit crnnulaled. $".(): eitra fine Krann-Iated. $7.80: ronrse era nutated". $7.80; eon fectlonera'. $7. SO: confectioners' A A $7 80: table bar $t.0!: tabl6 bar (Mb cartons. 24 cartons to ront.'tlneri. Jt.30: Monarch pow rterf'd, $s.05: Monarch powdered (1-lb. cartons. 24 cartons to container), $0.30: XXXX powdered. 8S.0": little rubes, (hull! only), $8.5.1: cubes, larce slie, $S.,W: aeml-cubes, SV05: deml-cubes. fi-Ib. cartons, solid ha'k 1! cartons to case) $0.SO: rteml i nbes. 2 lb. carton. nlld pack (30 cartons to easel, $0.S0: Golden Brown, l ib., car tons (24 cartons to container). $S.:iO; Extra C, $7.40: Golden C. $7.30: P. $7.20. Spreckls Sn-ar Company: Rest rranu Iated (Kifl lb. baas only', per ctl.. $7.0. pietlon and abandoned wells and leases, equal to $1.86 a share on the capital stock. DIVIDENDS. Chesapeake and Ohio Railway Regular semi-annual dividend of $2 on common and $3.25 on preferred, both payable July lxto stock of June 3. Hocking Valley Rail way Regu lar semi-annual dividend , of 2 per cent, "payable June 30 to stock of; June 3. ' Continental Oil Regular quarter- ! ly dividend of 60 cents, payable Junf 16 to stock of May 17. Atlas Powder Regular quarterly i of $1 on common, payable June 10 to stock of May 31. Glen Alden Coal Semi-annual of $3.50 a share, payable June 20 to stock of record May 31. Great Atlantic and Pacific Tea Quarterly of $1 on common, payable June 15 to stock of record June 10, and regular quarterly of 1 per cent on preferred, payable Juno 1 to stock of record May 15. Remington Typewriter Accumulated dividend of $2 on second preferred, payable June 20 to stock of record June 14; also regular quarterly of $1.75 on first preferred, payable July 1 to stock of record June 21. National Sugar Refining Regu lar quarterly of 1 per cent on common, payable July I of record June itii, or H. 84 a share a. vear ae-o. Profit and loss surplus was $13,-964.349, a gain of more than $4,-000.000. In instructing the French minister of finance to take any necessary measures to protect the franc from further-depreciation, the French cab inet was aware that the $100,000 000 Morgan credit was still avall- aoie ror the purpose. Interests close to the Bank of France, however, do not believe this bond has been drawn upon. The unexpectedness of -oincares defeat, thev assert, nrn vlded an excuse for selling francs anon, duc natural conditions soon established the rate. The Southern Railway syste.n's earnings of $65,311,414 since the first of the year, show a decline of $3,516,828. Atlantic Sugar Refineries had net earnings of $606,931 in 1923 compared with $127,965 in 1922, but profit and loss surplus was reduced from $5,060,314 to $4,487,840. BONUS. . B14. Albers Bros lt 7s 1942 101 tnialgamated Siik 1st 7s 1937. .102 Amer Factors 1st 7s 1037 10tt Associated Oil deb 6a 10S5 98 Bay Co Pwr 1st 8a 1030 98 Cal Elec Sen 1st Sa 11)48 95 Cal O & K tr 5s 1033 99 Cal G & E ft B 6s 1937 97 Cal & Haw 8 F 1st 7s 1973. ...105 Cal-Ore Power B as 1942 8 CalOi-e I'ower A 7s 1941.. 107 Cal Petlm set 6s 1033 97 Cal TeU& Lt 6a 1043. ...100 City Efcctric 5a 1937. ,w 94 City Inv 8 1033-34 94 Coast Co Lt & Pwr 5s 1946... 86 Cons Elec "enl Bs 1955.." 88 Pavls. Theo H eol 1931 102 East Bav Water 1st RHs 1946.. 97 Fast Hay Water os 1942 99 East Bay Water 7a . 1936. ,. .105 flenl Petlm 1r 7s 1031 1( Genl Petlm def 6s 1928 90 Gtnl I'etlm Con 6s 1927 U0 Gt West E'wr 1st 5a 1946 93 do rfc 6a 1949 99 do 1952 I... 99 do 7a 1950 103 Gt West Pwr cony 8s 108 Gt West Pwr deb 6a 1925 100 Holly Sugar 1st 7s 1937 97 Home TAT Spok 5s 1936 93 Key System' 1st Bs 84 Key System ref 5a 7 Los Ang O K us 1934 98 do ref 5s 1039 Ofl1 L A G 4 E gen ft ref 7s 1926. .101 L A G & E 7s 1931 103 do 6s 1942 984 To SUs 1917 91 rio 5'.148 91 L Ang Pac 4a 19M ,..... .. L A By 1st 5s 1038 90 LA Ry ref 6s 1040 Miller Lux 1st 7s 1030 Ifl0i Mt Whitney P A E 6a 1939.... 104 Natomas Co of Calif s 1033... 46 Nor Calif Pwr 1st 6a 1932 98 Nor Calif Pwr ref 5s 1048 06 Oakland Hotel 1st 6s 100 ..-.100 ..; 98 Pae Elec hly 1st 5s 1042 85 PG&E gen 5a 1942 91 P G & E 1st and ref 5s 1952 9n-P G & E lat ref 6s 1941 101 do 7a 1040 106 Pac Lt A Pwr ref 5a 1951.... 97 Pac I.t Pwr 1st 5a 1042 96 Pac Tel A Tel col 5s 1037 AS Pac Tel A Tel ref 5s 1982 91 folace Hotel 1st 9 102S 100 Paraffine IV. 1042 10r. S Hiego Con G A E 5s 1930.. .i 94 do -6s lO.'O .. ..' 98 S F G k K gen cal 4s 1933 S F G A E aen nc 4s 1933.... 9S S F & San Joaq Ry 5s 1940.. .100 San Joaq LAP 1st 5a 1945 96 San Joan L & P A 6s 101 do B Os 19.-'0 San Joaq I, 4 P B s 1032... San Jaq I, & P C s 1950 San Joaq I, ft P 7a lir.l S 0 Port Cement 6a 1945 101 Sierra S F. Pwr 1st 5s 1949.. 84 do ft 5a 1940 ;. 98 So Cal Cement 1st Bs 1041.... 9SU So Cal Edi-.on gen 6a 1939 90 do ref 6 1944 90 do ref 5s 1044 95 do ref fis 1944 do ref 6s 1043 , S. Calif Gas 1st fis 1050 1 So Calif Gas ref 7s lMl So Calif Tel Co ref 5s 1947... S Tac (S P Term) 4s 1930 So Pac ref 4s 1955 St.errv Flour 1st 0s 1942..... Serine ValVv 1st . 1H43 Standard Elec. 1st 5s 1930 Union Oil of Calif 1st 5a 1931. do 6s n e 1942 t'nlted O ft E 1st 6s 1032 Viillev Cos Pwr Bs JS30 V.nlnra Co Pwr Rs 1038 100 West Pac R ft 1st 5s 1046 fest States G ft B Bs 1941 90 Asa. 101 102 98 Central Eureka r.. i'xf KounU MouataiD... Halifax Round Monntalah Nevada Hills i West End Consolidated .. 9S 9R4 99 .ias .10114 , 98 -. 9S .103 . 93 92 . 05 . 97 . 97 .100 . 98 9S14 97 103 97 101 65 102 Uj 9S 105 105 '4 96 96 93 89 90 4 104 tos 77 104 98 101 104 101 92 96 102 107 98 92 101 106 93 99 103 90 14 95 V. 101 08 98Vi 101 91 Bid. . 1.87 t . 86 . .26 . 47 MUTING STOCKS. TONOPAHB. ma. Belmont '. 60 Cash Boy 07 G.viist Queea Halifax ..... a a aa MacNamara .." Midway 02 U Crescent Mon Pitt, .. Nw California 01 North Star Rescue B Ask. .20 .15 SO ,S7 48 Asian- Ton Ex Tonopah 76 Uiuatllla .. West End . 02 2.20 2.3714 . 01 47 FINANCIAL NOTES The Southern Pacific Company was authorized by the interstate commerce commission today to issue $17,640,000 of equipment trust certificates to be sold at 97.56 per cent of par for equipment purchases. Pan-American Petroleum Co has awarded contract for twenty-five retail service stations In Southern California. The company is planning- to put up 150 such stations this year costing approximately $1,500,000. which, together with the to stock i Purchase of sites, will represent to-1 tal Investment of more than $6,000,- Eastman Kodak Company Extra 00u. dividend of 76 cents, in addition to I regular quarterly .of $1.25 a share common. AIbo $1.50" on preferred, payable July 1 to stock of record May 31. NEW TORK, May 13. Another record for the year was established in local raw sugar market early today when sales of Cuhnns were re. ported at 5.46 duty paid. The business included , about 25.000 bags of Cubans for nrnmnt shipment at R.46 and 16D0 bats for June at 5 53. The issuance of May notices caused an earlv decline f 6 points hi that delivery but they were promptly etonned anat the loss recovered. T;sT(r rnnntlj whim lilniiei un rnv-erlng and commission house buying ami at mid-day showed net gains of 7 to 9 points. Refined sugar was unchanged at 7.1 " to 7.50 for fine granulated. Refined futures were nominal. Manila Electric reports for year ended December 31 net Income of $1,060,739 after taxes, equai to $15.15 a share on $7,000,000 capital stock outstanding, compared with $1,063,646 or $21.27 a share in 1922 The San Francisco office of E. H. Rollins & Sons lias just received 1 from the New York office of the I same firm the earning statpmpnt m .ji T- . r..w 1 the Robert Gair Company for April production of Dodge Broth- the ,,,. year 1S23 whi'cn hovns ers totaled 21,839 cars, compared that its net earnings (after operat- with 21,438 In March, 1924. and 18,000 ing expenses but before federal in April, 1923. Schedule for May Is! taxes and depreciation) were $1,- 22,000 cars. 929.677, or over seven times total Chevrolet Motor Co.'s April, 1924. 1 annual Interest on the $2,850,000 par STOCKS, JIh. Associated Oil Caribou t'luri'iiiont Coiimliilatc Mutual Oil... General Petroleum com..., do nfd Hollv Development ....... HoIIt nil Honolulu Oil Illinois Crude Junction Kirn Klver Mascot . m j m m ...... North American Oil , Pacific Oil Palmer Union pfd Paler Union com l'inl Dome Petroleum Operator Premier Prwlucera Pyramid Record S T MeKlttrick Shell Union Sour Doueh , Standard Oil of Calif S'W & B Sterling ..i , Texas Conosltdated Oil..., Transcontinental Oil United Oil 24 United Oil Associates 52 Union Oil of calif 115 u s t-ecroieum Wyoming..., Ventura Oil West Coast ofd INSURANCE Fireman's Fond , Home F A M Title Insurauce ft Guar Vulcan West Coast S F Life Western States Life UTILITIES. Coast Counties Gas pfd E Bay Water A pfd do B tifd Federal Teleiranh Great Western Power pfd... Key System orlor pfd., Key Syatem pfrl L A G A E nfif 'Market 8t Ry prior Dfd rortbwet Electric com do nfd Pas Gac ft Elec com ;B1 do pfd 88 Pac Tel ft Tel pfd .- S F Sac Short Line, com do pfd San Joaq LAP com 26 do prior pfd 98 So Calif Edison com..;....... 100 do pfd 104 Spring Valley Water Western Power com do pfd SUGARS. nid Asked 2S 29 . 65 00 07 3a 39 30 SS' 41 2.20 2.30. .40 7oY rno" 1.65 1.70 46 46 .17 . .20, .02 .03 . .20 1.75 .03 1.25 2.00 23 16 17 .00 1.25 66 57 .12 8U'. .75 1.60; 3 4 24 62 52 115 .. 25 177 V 17 8n 86 ' 78 89 68 7 79 28. 92 8S 89 101 104 87 Calamba Sugar pfd .. Ewa Hawaiian Commercial Hawaiian Sugar ..... TICKER AND TAPE production was 33,767 Cars, against 46.826 in March, 1924. and 36,000 In April, 1923. May schedule Is 37.500. General Motors Co. of Canada, Ltd., 1923 output exceeded 50,000 cars, of which 27,000 were exported. 1 &4 or Anrll Tirodnctlon nf Hudson Mnlnp I $1000 Company was 15.327 "Hudson" and ' "onas outstanding. The company "'Essex" cars, compared with 14,672 i rdth"01ob,anktloan8- , Thls company in niov, 11 c7o in ri,r.r I 18 tn& largest manufacturer In the o2'arCh'T. "'?!?. l.n,Fe-IUarynd ! wor'd of paper containers, such as i iipOuu in aiHnuaijTf i.t,, anu p,,uv in April, 1923. riupp .iiuior uurporauon nnippea value rirst mortgage bonds now outstanding. These net earnings snow a very great Increase over the figures for 1922. As of December 31. 1923. the ratio of the company's current assets amounted to $3,941.- ore than $1000 for each par value, first mortgage 3260 cars In April, compared with 3953 in March and 4637 In April, , 1923. . ' Paige Detroit Company April i shipments totaled 4600 "Paige" and I "Jewett" cars. Production for April, ' 1924, was 3000 care, against 5.679 in March, 1924. and 6017 in-April. 1923. Reports that the Mexican government 'might find, if necessary to s u Bp FTI a interest payments tern: rarlly on the bonds Involved In the debt agreement unless granted a new loan, elicited no comment from the international committee Of bankers on Mexico. Mexican gov- folding boxes, corrugated cartons, etc-., and is conducting a business which was established sixty years ago. Its issue of first mortgage 7 ner cent bonds was offered to the public In December, 1921. METAL MARKET Honolulu Plantation Hutoblnsnn Sugar Oaahu Sugar , Olan Siiirar Onomea Ploueer Mill Union Suar ........ Wallau N'p;W YORK, May 14. Copper quiet: electrolytic spot and futures 13 ffi.13.- Tin. easier, spot and nearby 46.00; futures 44.87. Iron y-Kumher 1 Northerns SLM S? 22.00; Number 2 Northern 20.U0i 21.50; No. 2 Southern 22.00. Lead steady; spot East St. Lo C5.90. Antimony spot 8.37. BANK ' STOCKS American Bank 8 F Anglo California Trust Anglo London Paris Nat..... Bank of California X A Bank of Italy Cent Rat Bk Oakland First -atonal S First National Oakland ..... French American Bank Bnnra Popolare Fugazi Humboldt k Italian American Bank....... Mercantile Trust United Bank ft Trust Wella Fargo Union Trust MISCELLANEOUS. AiDera Bros Milling pfd... Bnm-ltalv Corporation ... Booth pfd C L Best pfd California Packing Conn Sec Corn com Cypress Lawn Imnror Co.. Goodyear Calif pfd llHwaiinn Pmcaontr Haiku Fruit ft Packing..., I'oll.ind Land Co Maenavox com Orl'heum com Orplnum eouv pfd Owl Co pfd I'licirir Portland Cement.. ... Paraffine com do pfd Unnta (-ru Port Cement ijperry Klour com do pfd , 89 Telephone In Corp ... Virden Pscklng Western Meat Co com Wattera -Pac U R pfd.. 8 .. 78 83 45 .7 34 35 40 a IS 6V4 .. 44 28 29 83 DIVIDES. Alto Aladdin 06 Annex (i Apex 01 Bevla 04 Broogher DlrMe Ex 03 Divide 22 Dividend Florence 15 Giant , Gold Beet Goldsmith Gold Zona 08 Harm 111 04 Basbroock 01 Herculea High DIt 01 Hnll City .a........ - Karnldk nl Lucky Boy 01 Midway Mlrpah Par .. Revert Silver King 03 Smuggler 03 Sunbeam 01 Thomson 01 Vrd Victory 02 Wilson GOLDFIELDS. Booth 44 04 Fraction M Cracker Jack 02 Florence lo Goldfleld Coo 04 Goldfleld De 03 Grandma ul Great Bend 02 Ju in n0 Ex - 03 Kewanaa Lnne Star 03 Red Hill oi Sand K ., ul Silver Piclj oi West COMSTOCES. Best ft Belcher 03 Bullion ; .. Chollar .. Concordia 01 Con Virginia 03 Gould ft Curry ; oj Hale ft Norcruas Justice is Mexican Is Ophir fl;; Saragr 02 Sierra Nevada 04 Spearhead m Union 07 CALlrORNIAS. Ben Hur 02 Bunker mil .. Central Enreka 1 37 Double O 08 Golden Eagle 36 Gold Wedge 02 Marne 01 Moo re Jlng 03 Nevada Bill 33 Operator Sutherland , V el low Dog ITETAIIAR. Arrowhead Arrowhead Annex .. Buckingham Ulna Bullwhacker ij Climax Hdy Rd Mountain fis" Man Con ..............a...,. 02 Mayflower Mineral Mountain '. Myra 04 Northwest Prince , Round- Mountain ............. 26 Veta Grande ......... White Caps 64 OTHER DISTRICTS. Bdy Rd Mountain 10 Kingman Sunset ' w Union Amalgamated .. IB 02 03 04 03 2 40 02 43 02 04 23 05 02 02 02 02 04 03 02 03 15 06 02 03 04 03 01 02 02 02 03 0;' OH ." 00 04 09 03 05 0-1 02 12 12 01 03 STOCK SALES. 1000 American Factors Ta . . 3000 Edl Lt ft Pwr 1st mtg 6s...'..' 5000 do 5000 Edl LAP 5s. ..'.'.' 1000 Genl Petlm 1st mtg 7s 20O0 Los Ang G ft El 7a "' 1000 Miller ft Lax Inc 1st mtg 7s. rMlU do , . . , , loOOO Pacific Gas ft Elee'si"' 3000 Pac TAT 1st int. a. .i V-'il 10 East Bay Water A pfd V 70 Associated Oil ...... viv 100 General Petroleum "" Kivt .:; i" iuria amencan Oil ...... 500 do M Pacific Oil .V.'.".' 108 do 60 Shell Union com 10 Standard Oil of Calif..'... 12O0 Coos Mutual MINING- SALES 1000 Gould ft Curry.... 600 Ophlr 800 Central: Enreka .7.7.7, 103 101 lol 9 10.ji 101', 100 101 91 1.70 I.7214 40 14 46K, lfli 80 . 01 . 04 1.40 132 J97 !)' 2-S 200 210 225 ir.s 110 107 161 246 , 153. 122 lflf) S2 4 R 92 2 II ' 2.50 l.-.T 201 233 195 7054 25 Cattlemen Urged to Diversified arm WINNIPEG, Man., May 14. Diversified farming- was declared to be the only hope for tha cattle raiser by John Clay, presidert oi tne unicago International Livestock Exposition, speaking at the flrst annual banouet of the Tlnnlnetr Stockers and Feedera Show associa tion nere last night. Attending the function were mnra than 600 livestock men from all parts of Canada and tha United States. "The cattle business," Clay said, is in a bad way at nreaent. hut there is ground for Improvement shortly." , COTTON MARKET NEW YORK, May 14. Buying by trade Interests caused firmness at the opening of the cotton exchange today, options advancing from 13 to 25 points. Buying was based on steady Liverpool cables and prospects of unfavorable weather In the belt. Shorts also covered in anticipation of the consumption 1 eport to be published at 11 a. m. May opened at 31.40, up 25 points; July at 28.92, up IS points, and October at 25.05, up 13 points. 102, 24 5 MINIJJO. 2 Southern 22.00. Lead . Belmont Tonopah cv t 7.37 ft 7. DO. Zinc Quiet: I Bullwhacker Conoslldatei! H uis sot and nearby 6.1!,,!.::::::::::: 1;&v Umony spot 8.37. Tou ia;i Est' .slon 2.2U .90 .a Option. January... Marco May. July August.... September., October.... December. . Open. 24.08 81.40 28.92 25.05 24.45 High. 21.25 81.62 29.10 25.20 24.61 Low. 23.0S 31.00 28.80 34.02 14.81 Close. 23.9S 24.07 31.3 2S.R7 20.65 25. 05 24.94 J4.:t5 DLblHHIIlb IULHD BEHIND DEMAND Scramble for Raw Supplies I? Predicted Among Large Producers. a- The National Bank of Commerce In New York in the May number of Commerce Monthly refers to the Increase In world consumption of lead to a point where output Is scarcely adequate to supply the demand. The bank says: "This is due to the heavy use of lead In pipes and paint In the build ing Industry of this country ana European construction work, to thij large amount of lead requirea 10 telephone cables and for storage batteries lor use m automouneu .mi, to a less extent, In radio outfits. SCRAMBLE FOR SUPPLIES. "The natural outcome of this situation has been considerable competition in world markets for available supplies of lead, with resultant high prices. The United States, Mexico, Spain, Australia and Germany are the principal lead-pro ducing countries of the world. Before the war these countries were responsible for approximately four-fifths of the world's output of lead. During the last ten years, however, there has been a marked change in the relative position of this group. The output 01 ieaa .n uum Spain and Germany ha declined greatly and Australian production Is also somewhat reduced; the United States has strengthened its nnsltinn as Principal producer and Mexican production has Increased greatly. ' The heavy consumption in 111 United States, shmage ot supplies in European markets and tne un- nertain Mex can situation na combined to raise the price of lead to a point but little below the war time peak. Prices have recenuy declined somewhat from thia high point. SMELTERS ACTIVE. "Under ordinary circumstances a strong and well-sustained demand for a commodity serves to Increase the supply of that material. The great activity of the mines fd smelters of this country lndiUM an Increasing rate of output ot t?d and lt Is probable that the lead Industries of other countries are similarly affected. At present, however, consumption in the United States continues to outstrip domestic pro- duction, and with the present Prospect for continued European demand it seems probable that any increase in world output would only serve partially to make up the discrepancy between supply and demand. Moreove.- it seems to be the opinion of soma reliable trade authorities that no material Increase in world supplies of lead is probable. If this be true, high prices will probably work their , own cure by causing consumption to diminish, but it is Impossible to judge a Jest what point this change might occur." 3 FINANCIAL NOTES . on ne :ed Aartl o fiRSbfl 103-anVi S. W, Straus & Co. have purchased and are offering n tstsue of $685,000 first mortgage of 8 Pr cent serial coupon bonds, secured by the ten-story Kay Office Building, to be erected at 1920 to 1930 Broadway, Oakland, Califo-nla. These bonds which constitute a direct closed first mortgage on All' land and building, are dated 15, 1924, mature in three to vears and are callable at 1 interest for the first five years and at 102 and interest thereafter. Federal Income tax up to four per eent is paid by the borrower and they are exempt from personal property tax in California. Interest coupons are payable April 15 and October 15 at the offices of S. W, StrBus fc Co. The railroad commission has authorized East Bay Water Company to use 1980,600 of the proceeds derived from the sale of bonds, and $326,800 derived from the sale of stock,, to finance additions and betterments, Including the Upper San Leandro project. Mount Lassen Transit Company has applied to the raliroaa com mission for authority to issue ana sell 10.000 shares of its ' capital stock for $1.00. .per share, and to Issue 15,000 shares of Its stock already subscribed for. The same company has also applied t the commission for a certificate to op- , era'te an auto stage line between Red Bluff and Westwood and to acquire all rights now held by Walter Gosmey. Mount Lassen Transit Company has applied to the railroad com mission for authority to issue anu an 10.000 shares of its capital stock at $1.00 per share, and to issue 15,000 shares of its stock already subscribed for. The company also applied for a certificate to operate an auto stage line between Ked Bluff and Westwood and to acquire all rights now held by Walter Gosmey. The National City Company, Mer. cantile Securities Company, and the Harris Trust and Savings Bank were awarded the $450,000 Eureka high school district 5 per cent bonds, paving a premium of $5826.60. Other bidders were Heller, rsruce os Dean Witter .& Co., and the Wells Fargo Bank and Union Trust torn-nanv. offering a premium Vef $5062.50: Bank of Italy, $4ft78. nd Anglo London Paris Company, i2VJl. The bonds are dated April-15. 1 334, and mature aerially from April 15, 1925 to 1949. The Southwestern Utilities Corporation reports, through Freeman, Smith & Camp Co.. that net in come for the first three months of 1924. available for Interest, taxes, dividends and depreciation, totals $138.950 over three times Interest on the company's funded debt. The company's business is expanding rapidly, and gross and net earnings show a most satisfactory Increase over the came period of 1923. 7A I want $22,000 on first mortgage, flat loan, two years, 6, on income business property in Oakland- Bank appraisal $50,000. ' NO BROKERAGE BoxM-1 59t70ribune

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