Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-09-08
INVESTMENT TRUST
FINANCING RECORD
August Figures Are Highest
in History-Stock Total
Is Huge. :
Special Dispatch to The, star.

Special Dispatch to The. Star.
CHICAGO, September New In
vestment trust stock financing in
August was the largest ever recorded
representing go per cent of the total
volume OF new security offerings for
the month, according to the monthly
investment review complied by the sta
tistical department OF Lawrence Stern
81 Co., investment bankers, Of Chicago
and New York. -, .:
The huge volume Of investment
trusts and financial offerings, totalling
1912 ,152,500, more than Offset the
marked decline In industrial and pub
lie utility stock issues, as well as the
very heavy falling on in bond offerings,
which reached the lowest level this
year.
Total New Financing.
The total Of new stock. bond and
note financing for the month was $685.
054,067. This represents an increase Of
more than per cent over July and
was approximately 143 per cent larger
than the total for August, 1928.
Bond and note financing in August
totaled $l99. 500, 1877, which Is per cent
larger than the total for August, 1928,
but 80 per cent below the July total.
Stock offerings registered q fetal Of
$425 ,545, 730, which Is approximately
474 per cent larger than the unusually
low volume recorded for August. 1928,
but was 66 per cent greater than last
month.
All classiflcations in the bond list
showed q marked decrease from July.
The volume Of industrial offerings was
less than half of that Of the previous
month. There were only 90 bond offer
ings during the month, rs compared
with 101 issues the previous month.
Investment trust and financial issues
comprised 81 per cent Of the volume Of
stock offerings In August, as compared
with so per cent Of the previous month.
There were 2e issues, the largest of
these being the following: TTi-Con-
tinental Allied Co., Blue Ridge Corpora
ton, neutrality-suspicious. Corporation,
insult Utility Investments, Inc; Fourth
National Investors Corporation. Solvay
American Investment Corporation and
American Equities Co.
Division Of Underwriting.
OF the combined stock and bond
totals, New York investment bankers
underworld by far the largest share
Of the August issues, being responsible
for q total Of $314,769, 750-29 stock
issues totaling 1921 ,814,750 and II
bond issues totaling 92,955 600. Chi
cago was second with combined total
Of $l02 .051 5000 stock issues, total
Ing $90.629,5 500 and IA bonds issues
totaling $l1. AZ, 900. Boston was third
with q combined total of $86,l70. 900,
followed by Detroit and Cleveland.
The Lawrence Stern & Co. weighted
by volume yield new bond and note
offerings figured at offering prices,
showed another slight increase in Au-
gust, the index standing at 500 per
cent, as compared with sos per cent
in July. This was largely due to an
increase In real estate and railroad
yields. The average industrial yield
now stands ct GIL per cent, real estate
6.23 per cent, public utility SITS per
cent and railroad 5.84 per cent. The
foreign average yield also showed q
substantial increase, due to the high
yielding 81, 900 900 Chilean consolidated
municipal loan, now being 7.50 per
cent. as compared with Gas per cent
In July.