Evening Star Newspaper, April 14, 1929, Page 32

A v " ARCER EARNIGS 255 AR t W, AUV RIR BT S VAR Y A S e, ANAVATIFDRTEE AT - I IR AT A AR AN O RN AW A SV PSR o A A YL T s A T.&T.REPORTS U. S. Lines’ Stock Is Placed on Market—Fewer Failures in Southern States. BY EDWARD C. STONE. Local stockholders in the American ‘Telephone & Telegraph Co. will re- ceive a condensed financial statement tomorrow, com-=- paring earnings during the first quarter of the present year with the corresponding period last year. The statement shows net earn- ings for the first quarter of $46,- 530,158.8¢, against $39,000.495.70 in the period a year ago. After all ce- ductions the earn- ings report an- nounces a balance of $13.244,567.29, against ~ $8,641.- 95431 in 1928. Other equally interesting comparisons are made as follow: Erra Gould. 3 mos. ending 3 mos. ending Mar. 31,28, *Mar. 31, '20. Earnings— Dividends Interest Telephone operat ing reventes Miscellareous rev enues . Total . Expenses, 'inc ing taxes . Net earnings ... Deduct interest. Balance . Deduct divides Balance . sSubject to minor changes when fAnal fig- ures for March are available. Ezra Gould Again Heads Bank. As noted in yesterday's Star, Ezra Gould was re-clected president of the ‘Whashington Mechanics Savings Bank at the annual meeting just held. Mr. Gould founded the bank in 1906 and the institution has never had any other head. The steady growth under his leadership has justified his policies in management. During the past year extensive changes and improvements were made in the bank's Georgia avenue branch. Now that the bank has doubled its capital further growth is assured. Ten years after starting his present bank, Mr, Gould organized the Dupont Na- tional Bank which later merged with the Merchents Bank & Trust Co. The local bank president has always been fond of tennis and has carried off many a cup captured at the annual conventions of the District Bankers Association. G y. S. Lines, Inc,, Stock Offered. P. W. Chapman & Co., Inc., is offer- ing 600,000 shares of preferred stock of United States Lines, Inc., at $17.50 a share. Corporation was organized to acquire the ships and business of United States Lines, operating the Leviathan and five other vessels, and American Merchant Lines, operating five combi- nakion passenger and express {reighters. ‘The stock will be entitled to cumu- tive dividends of $1 & year, accruing m January 1, 1930, and will par- tieipate equally with common in any further dividend distributions. Capitalization of the company will consist of this issue of preference stock, without par value, and 1,000,000 shares of no-par common, in addition to a $12,061,500 mortgage, ' due in _series 1930-1944, to be issued to the United Btates Government, bearing 4% per cent interest. Insurance Directors Nominated. Nine nominations were made for di- rectors of the District Underwriters’ As- sociation at a recemt meeting at the Arlington Hotel, four of whom will be elected at the May meeting of the association. Nominees were John Cremen, Massa- chusetts Life Insurance Co.; Philip Baldwin, Northwestern Mutual; J. E. McCombs, Mutual Life of New York; John Snyder, Mutual Benefit; Russell Freeman, Prudential; Russell Shelk, Reliance; Dudley Carpenter, Sun Life Assurance of Canada; Eugene S. Adams, Continental; John L. McElfresh, Con- necticut Mutual. The association an- nounced a joint sales congress to be | labilities of $12.033,013, as against 735, involving $21,492,310, during the cor~ responding riod of 1928. Those totals says 's report represent re- ductions of 10.1 and 39.8 per cent, re- n r of defaults recently Carolina and Georgla g{ any lheacl‘hlfy nmbor for D.h! num eing prac same for vears In contrast Florida showed 51 fewer failures thils year, and a decrease of 43 occurred in West Virginia. Smaller declines were recorded for Maryland, District of Columbia, Vir- ginia and South Carolina. Moreovs all States in this up, except Del ware, North Carolina and Georgla, a lower indebtedness than in the first quarter of 1928, the falling off in Florida exceeding $4,000,000, in West Virginia $2,900,000, in Maryland about $1,400,000 and in Virginia nearly $1,200,000. Section. Maryland Delaware District of Virginia, .. West Virgihi ~Number— 29. Linbilith 1020 088, 1838 8 108 Stock Edward J. H. Carothers, manager of the Washington office of the Air-Way Electric Appliance Corporation, an= nounces that the company’s common stock has been listed on the New York Stock Exchange. Trading has already commenced in it and the stock closed the week at 387. : The corporation is capitalized at $3,000,000 preferred stock, $2,000,000 of which has been issued; $10,000 in sec- ond preferred, and 500,000 shares of no par common, of which 400,000 are now — | outstanding. The annual report submitted to the stock exchange showed steady gains in earnings in 1926, 1927 and 1928. Baltimore Markets | Special Dispatch to The Star. BALTIMORE, Md. April 13.—With the exception of old hens which have been in more liberal receipt the past week, the general live poultry market continues firm at full quotations for other lines, especially Spring chickens, which are scarce and meet with ready sale, no surplus in the daily arrivals which are still light. Colored, springers, 215 pounds and over, are bringing 52a 55 a pound and stock under 2 pounds, as well as Leghorns, 48a50. Young chickens, 21 to 3 pounds, in good de- mand at 42x45, but all poor thin naulux is slow sale at 25a28. Demand for ol hens has eased off and under liberal receipts the market rules easy and values lower at 30a31 for stock weigh- ing 34 pounds and over. But Leghorns will not bring over 28 A fairly good demand prevalls for fat ducks at 30. but stock weighing under 4 pounds will not bring over 20. Market for guinea fowl and pigeons holds steady at 50a1.10 each for the former and 35 240 & pair for both young and old of the latter. Egg Receipts Liberal. While receipts for native and nearby eggs have been ruling fairly liberal the past week. the consumptive demand has shown an improvement and all desirable fresh-laid. stock meets: with ready sale at_full quotations. Prices have held fairly firm and the market closed today at 26 cents a dozen for firsts in free cases and 20 to 22 for current receipts. Receipts of white potatoes have been more than ample for the demand which is easily satisfied and values show a de- cline, the market closing today at 75 to 90 cents per 100 pounds for No. 1 well graded stock, but McCormicks and reds will not bring over 65 to 75. De- mand for sweet potatoes and yams limited, but under light receipts the market holds steady at 3.00a3.25 a barrel for No. 1 clean bright stock, but all overlarge, rough, dark stock is gen- erally slow sale at 2.00a2.50. Native and nearby garden truck in ample receipt for the demand which is now turning to early Spring vegetables from the South. and, while the market holds fairly steady, prices are mostly in buyers’ favor at the following quota- tions: Cabbage, 50 to 1.20 hamper; kale, 20 to 45 bushel; onions, 1.50 to 4.00 per 100 pounds; rhubarb, 150 to 3.00 per 100 pounds, and spinach, 30 to 60 bushel. Live Cattle Market. ‘The general live cattle market holds steady to firm under light receipts on the wharves and no surplus at the held with the Baltimore association stockyards. Demand continues active, May 3 at Baltimore. Moderate Trading on Exchange, Small lot trading again featured the week’s closing trading on the Washing- ton Stock Exchange, prices remaining at recent levels. Capital Traction closed the week at 981:. The stock opened at 98, the next sale was made at 98, and another at 9833, Washington Railway & Electric pre- ferred also figured in several small lot sales. This stock opened at 96%. Ten shares then sold at 963; and 10 more sold after call at 987, Potomac Electric Power 6 per cent preferred came out at 112, closing half a point higher. The 5!, per cent pre- Tferred registered one sale at 107'%. The only bank stock out was Second Na- tional, 10 shares selling at 249. Mergen- }};n;l:gr Linotype registered a sale at Y. Security Storage Co. recorded three sales at 121. The bond department at- tracted a good share of attention, the opening sale being a $1,000 transaction in Potomac Electric Consolidated 5s at 10135, Washington Gas 5s moved at 1003;. Gas 6s, series A, baby bonds changed hands at 10212, while two $100 B bonds sold at 104} and a $1,000 bond at 105. A $4,000 and an $8,000 sale in Washington Railway & Electric 4s took place at 86. The unlisted securities were read off as usual on Saturday. The bid on Commercial Club first 55 now stands at 90, and the bid on Metropolitan Club 4s has been advanced to 90 with 921 asked. The asked price on Chapin- Sacks 8 per cent preferred is now 110 and the bid price on Franklin National Bank stock has been advanced from 160 to 165. Munsey Trust bid has been raised 5 points to 150. The bid on Woodridge and Langdon Savings Bank stock has gone to 20. Fewer South Atlantic Failures. ‘The much improved insolvency re- turns for the South Atlantic States for the first quarter of this year are shown by the 661 commercial failures, with SEE | but centered on first quality stock, with all undergrades slow sale at inside prices. Demand for Spring lambs lim- ited as yet and shipment of stock under 40 pounds not advisable, Quotations today at Light Street Wharf: Beef cat- tle, first quality, pound, 11}2a12; com- mon to medium, 8a10; bulls, as to qual- ity, 7a9; cows, choice to fancy, 7a9; common to fair, 4a6; oxen, as to qual- ity, 6a8; calves, veal, choice, 1412a15; large, fat, 13a13l2; large, rough, 81za 915; thin, 8al0; rough and common, 7a8; sheep, choice, 6a7; old bucks, 4a5; lambs, choice, 15a16; fair to good, 12a 14; common, thin, 8a10; Spring lambs, 40 to 45 pounds, 18a20; hogs, straight, 10%a11%; sows, 8a9; live pigs, 10al4; shoats, 10a12. Closing grain quotations: Wheat No. 2, red Winter, garlicky, spot, 1.37%; April delivery, 1.27%; corn, No. 2, ex- port, spot, no quotations; No. 2, do- mestic, yellow, spot, 1.08a1.09; cob corn, 5.5026.00 per barrel; oats, No. 2, white domestic, spot,” 60280 No. 3, white mu;‘.{%. spot, 58a58%:; rye, nearby, HELPLESS AGAINST FIRE. Residents Forced to Stand by and See Village Burn. MANISTIQUE, Mich,, April 18 (#).— Without fire-fight equipment and with outside communication cut off, res- idents of Gould Oity were forced to stand by and watch a fire of their village Thursday. Eleven buildings were destroyed, in- cluding the telephone exchange and the lines to Manistique, the closest town with a fire department. Damage was estimated at $75,000. . Boosters of the Buy British Goods campaign were st recently to find that only 32 of the 1,777 type- writers in the British postoffice depart- ment were British. MORE COMFORTABLY WEAR NEW MOPERN - GLASSES PAY 30¢ A WEEK! destroy most ; - ish utility chair. THE SUNDAY STAR, WASHINGTON, D. C. APRIC 14 1920_PART ¥ JThe Julius Lansburgh Furniture Co—909 F Stz ‘Monday—A Day of Genuine Savings at the Julius Lansburgh urm'tur, zi | T i Featuring 4 Desirable Suites At That Formerly Sold From $195 to $225 Also Numerous Items to Refurnish the Home at Special Prices Convenient Deferred Payments Readily Arranged—Small Deposit—Balance 18 Months Delart Fiber and DavenpOI't Suite Dainty Voile Bedspreads— Floral Designs. $4£ Flounces in Rose, Green, Orchid or Gold. $0.95 Voile Curtains to match Spreads, overlocked edge, 79 in Green, Gold, glue, Rose and Orchid. Crex De Luxe Rugs At Special Prices 9x12 Ft. $18.75 8x10 Ft i j e R e e LN | W77 L\‘; $16-95 | P fngw T IR N+ G ' 7 8§ § —= __——¢§ ! x9 Ft. $11.75 4.6x7.6 Ft. Tailored Cur- tains of Filet Net in Orange and Gold, pair ...... Ruffle Curtains, Convenient Deferred Payments ; Pay Only $7 Monthly Three massive pieces of unusual quality at an exceptionally low price. Daven- 31 57 port cqncea]s a double size bed; armchair and club chair, upholstered in taupe mo- hair with moquette. Reversible spring cushions. 10-Pc. New Design Walnut-Veneer Dining Suite 3 ¥ ] Hardwood fraine, heavy striped Swaying Divans duck. Complete with cachy.‘p Special Opening Prices starting ot 51 6.75 Durably built, with spring seat and heavy quality pad- ded back and seat. Pay Only $7 Monthly ew design 10-pc. walnut-veneer dining suite with 60-in. buffet, extension table, s 1 57 china cabinet with grille center door, enclosed server, 5 side chairs and one arm- chair covered in jacquard. The suite has gracefully turned legs of heavy stock and handsomely finished. Arm Maple Porch Rocker $4.95 High bacle and seat in double glazed cane; very comfortabble and durable. Couch Hammock and Stand Complete $129 Strong construction; easy and comfortable. Folding Cot 52.95 Hardwood frame. Canvas cov- ered. Strongly constructed. Pay Only $7 Monthly 157 This handsome Peri_od style 3-pc. living room suite is upholstered in mohair with selftone velour on outsides and attractive moquette on reverse. Comprises large settee, armchair and throne chair. Loose reversible spring cushions. Huguenot Finish—Genuine Walnut Veneer—6 Pieces Bar Harbor Chair $0.95 "Strongly built, natural fin. Simmons Beauty Rest Inner Spring Mattress Enjoy sound. restful sleep with all its energy-renewing and health- giving value. (G Convenient Deferred' Payments Pay Only $7 Monthly The new Huguenot finish is shown on this 6-pc. genuine walnut veneered bed- s 1 5 7 Poster Bed $1 6.75 Mahogany or walnut veneer panels. Desirable Colonial design. Fiber Stroller $1 0.75 Adjustable hood, dash and back. Nicely finished, room suite, which features large poster bed, massive dresser, French vanity, chair and bench. Each piece is excellently constructed and neatly designed and finished. Will attractively furnish the bedroom. A special for Monday at.........ceeevves Get Your Radio for the Base Ball Games! Freshman & Philco All-Electric Radios At New Low Prices Philco Radios Console Modél, Ma netic Speaker. Lowboy, Dynamic Speaker .............58I Highboy, Dynamic peaker ............5215.00 S Freshman Radios Console, Magnetic Speaker $99 Console, Dynamic Speaker. Lowboy, Dynamic Speak Highboy, Dynamic Speaker. Gibson Top-Icing Refrigerator $1075 . Convenient size for small apartment. Guar- anteed food preserver. “Frost King” Apartment Size Refrigerator 22 Popular two - door apartment style. 50-1b. ice capacity. - &he gfulius Lansburgh gfurniture (Go. _Entrance 909 F Street N.W. “Quality That Endures” 3-Pc. Hand-W . Suite A’ suite possessing attractiveness com- bined with low price. Hand woven fiber, neatly decorated and strong construction. Settee, armchair and rocker. Spring-filled | $ .50 == seat cushions, covered in cretonne. Convenient Deferred Payments “Alaska: Make” Refrigerator $22.50 ice ,‘ ity. bills.to & minw Prices Cz": ‘l:" Less Tubes mum,