Evening star., 1925-04-29
S8,1@,ODO B. & 0.
BONDS OFFERED
Loan at d 1-2 Per Cent Sold
Subject to |. C. C. Approval.
Other Financial Notes.
BY CHAs. p. SHAEFFER.

The Baltimore and Ohio Railroad
Co. is selling today $S,145, 600 OF Az
per cent equipment trust certificates.
subject to approval of the Interstate
Commerce Commission, which was
asked to sanction the sale.
The fiotation is of series "B,'' dated
May !, and maturing in equal amounts
In annual installments from May ],
1926, to May /, 1910, both dates in
elusive. The certificates are to be is
sued by the Girard Trust Company
of Philadelphia, as trustee, under an
equipment trust agreement. Proceeds
of the sale will be used in the pur-
chase of new rolling stock, namely,
5000 freight cars, 20 passenger
coaches and 5 steel dining cars, cost
ing not less than $10,S60,000.
Sale is being made on sliding scale
basis, averaging 98.43 per cent, with
an average yield Of AIS per cent.
Hibbs' Comment on Budget.
Digestive comment anent the new
British budget was made as follows
by w. B. Hibbs & Co, this morning,
in their daily market letter:
The new British budget reported
TO Parliament by the chancellor OF the
exchequer proposes heavy tariff duties
on American products such as auto
disposing Of the old pacifist plea for
reduction of American tariffs TO
permit Europe to dump her cheap
products on the American market as
the only way TO pay European debts
to the United States. Great Britain
breaches free trade. but does not prac-
tice it, and she has returned 70 the
gold standard on the assurance OF
$500, 600 900 American credit Great
RTifaIn rDiN
idge assurance that there is nothing
international in the demand for re
ductlon OF American tariffs to enable
our debtors to pay their debts in kind.
Former Secretary Hughes, in his
speech to the Chamber of Commerce
of New York. correctly stated the
! position of President Coolidge when
| he said that American business men
Know the Government is not going
to involve itself or promise military
FORCES to collect their foreign debts.
The President has tried to have the
american investing public understand
! this for months, but blue sky foreign
! securities continue 10 come by the car
load from every pecunious country in
the world and are bought by our in
nocents who are looking for safe in
vestments. When the reckoning comes
| these innocentS need not look to Uncle
Sam for help. He is tired Of holding
the bag for those who have more
money than common sense"
| Bank Officials Meet.
Eugene L. Thompson, president OF
the local stock exchange and a vice
president of the Investment Bankers
Association of America, leaves tonight
for White Sulphur Springs to attend
the annual Spring meeting of the
board Of governors Of the latter or
| ganization.
| Those elegible to attend the meeting
are various committee members of the
association and existing and former
members Of the board of governors.
The meeting will last until Saturday.
Trading on Local Board.
| Odd-lot sales in trading restricted
| to popular issues brought out firm
price trend on the local market today.
Capital Traction stock reached it's
| highest figure in month, so shares
| selling at 93ls. Ten shares of Com
| mercial National Bank brought 153 324
| and Lanston was unchanged at 81.
! Security Storage Co.. which has been
| traded in but once this year, declined
| one point to $50 on q one-share sale.
! Mergenthaler Linotype continued
| strong at $50 on sales of 25 shares, as
! did Railway preferred at S1a4 on 4
! limited number Of shares. American
| Security and Trust Co. brought 325.
| Gas per cent bonds were traded in
at 991., and Traction 5s at 9712.