Evening Star Newspaper, October 26, 1929, Page 22

P W.R. & E GAINS -INSEPTEMBER NET Potomac Power Also Reports Increase in Net Earnings During Same Month. BY EDWARD C. STONE. According to the monthly statement filed today by the Washington Railway & Electric Co. with the Public Utilities | Commission, net income for September was #5,129.34 larger than in the same montd in 1928, while the railway com- pany $1ows a gain of $109,501.53 for the first nine months of the present year in comparison with the corresponding period & year ago. The report for the first three quarters of 1929 indicates that the corporation will wind up the year with larger earnings than were re- corded in 1928, The September report shows that op- erating revenues amounted to $447.- 15147, compared with $451,003.56 in the same month last year. Operating expenses and taxes required $386,754.17, against the lower figure last year of | $382.277.68 A year ago. | Total income from operations reached the sum of $27312.41, compared with the lower total last September of $20,- 201.60. Addition of the non-operating | income and .he usual deductions not as- signable to operations left the company | with a net income for the month of $28.870.21, in comparison with $23,- 74087 in ‘September, 1928. Nine Months' Net Earnings. For the first nine months of the pres- | ent year operating revenues of the Washington Railvay & Electric Co., | amounted to $4.312211.13, compare with $4.286,701.55 in the same period | & year ago. Operating expenses and taxes totaled | $3.622.434.16, against $3.543,367 a year | ago. Deduction of operating expenses ! and taxes left an operating income of | $680.776.97, compared with $743.334.55 | in_the first nine months of 1928. The corporation’s non-operating in- come this year to October 1 was $1,- | 200,018.55 in comparison with the lower | figure last year of $1,069,731.07. After all the usual deductions the Railway & Electric Co. reported a total net income of $1,337.824.76. This compares with a net of $1,228323.23 at the end of the | third quarter a year ago i Potomac Power Reports Gains. The September report of the Potomac | Electric Power Co. has also been filed | with the Public Utilities Commission, | this statement also showing a gain in | earnings during the month and a| marked improvement in net earnings | for the first nine months of 1929. Gross carnings from operations in September _amounted to $773.802.93, | against $757.957.98 a year ago in the same month, a gain of $15844.95. Operating expenses were lower in Sep- | tember this year, being $327,768.35, | compared with $328,463.10, or a saving | of $694.75. The corporation reported net earn- | Ings from operations of $446,034.58 in | comparison with $429,491.88 in Septem- ber, 1928, an increase of $16,539.70. Miscellaneous income totaled $23,220.- 96 against $17,968.39 a year ago, an in- crease of $5,252.57. The corporation reported a total net income for September of $307,639.99 in comparison with $208,691.09 in Sep- tember, 1928, an increase for the month under review of $8,948.90. Fine Nine Months' Showing. The electric power company reported gross earnings from operations amount- ing to $7.247,606.37, compared with $6,- 863,386.40 in the same period a year ago. This is a gain of $384,219.97. Operating expenses required $3,033,- 052.60, against $2,945,845.03, an increase in operating costs of $87,207.57. Net income from operations amounted to $4.214,553.77, 1n_comparison with $3,- 917,541.44 in 1928, an improvement in operating income of $297,012.40. Gross income less operating ex- penses reached the sum of $4,364,973.73, while this figure last year was $4,039,- 653,21, a gain in gross so far in 1929 of '$325320.52. After all decuctions the corporation had a total net income for the period of $2,926,433.16, against $2,666,969.76, a gain in th2 first three quarters of 1929 of $259,463.40. Both the above reports indicate that while there are reports of business re- cessions in some sections of the country, the transportation, light and power business in Washington is holding up splendidly. Board Elects Norment Chairman. At its regular monthly meeting, held yesterday, the board of directors of the Terminal Refrigerating & Warehousing Corporation unanimously elected Clar- ence F. Norment, sr, chairman of the %oalllrd. to succeed the late Charles J. ell. The board paid high tribute to the memory of Mr. Bell and his construc- tive work in the development of the company, which was expressed in a resolution to be engrossed and sent to his family. Building Association Elects. Election of officers_was held last night by the District Building & Loan Association gouncil at its annual meet- ing in the Oriental Building & Loan | Association offices, Sixth and F streets | northwest. Officers chosen are: Edward C. Baltz president; Chopin B. Bauman, vic: president; William S. Quinter, secretary: William ' Heuland, treasurer, and C. Clinton_ James, J. Lewis Sherwood. James F. Shea, John B. Geler, George M. Emmerich and Carl J. Bergman | members of the executive committee. Check Payments Above 1928. Commercial transactions during the week _ended October 19. as indicated by volume of checks to banks for pay- ment, were smaller than in the pre- ceding week, but larger than in the corresponding period of 1928, the weekly business summary of the De- partment of Commerce _states. Movement of commodities by rail through primary channels, as indicated by freight car loadings covering the lat- est reported week, showed a slight de- cline from the same period of last year. General index of wholesale prices | showed further fractional recession from the week prior and was lower also | than in the corresponding period of | 1928. Iron and steel prices were lower than in the previous week, but higher | than a year ago, and cotton prices | showed declines from both periods. Auditors’ Section Has Meeting. The auditors’ section of the District Bankers’ Association held a most in- teresting dinner meeting this week at the National Press Club. Discussions from the last session were continued, one subject being the better protection of bank tellers in their work. Raymond G. Marx, auditor of the Riggs National Bank, presided. U. S. AVIATORS RESCUED. | Seaplane Forced Down Near To- nala, Mexico, as Fuel Gives Out. GUATEMALA CITY, October 26 (#) —Advices reaching here yesterday said that a Savola-Marchetti seaplane of the American Aeronautical Corporation, | which left New York several days ago. had been forced down by exhaustion of its fuel supply near Tonala, Mexico. ‘The plane was seen from the air by Pilot Dorrell of the Pickwick Airways, who landed and assisted the crew in salvaging the seaplaneé, which was drift- ing toward the beach. Pilots Atwater and Sarey, who 514 | 344 High. Low. b67% 88% 104% 19 47 223% 114 10% 7% 13 27% 3 954 2'3 27% 9914 2 RO 4% 241 120% 44 29 2215 T 31 110 11 40% an 13% 18414 1073 106's 80 5% 108'5 104 103 88 42 244 10 6 49% 3 96% 5214 136 100 119% 112 279% 147% 81% 50 17% 3% 175% 81 104 98% 84y T8 bat B4% 64% 2015 14400 100% 41% 30 1304 9315 138 130 49 394 9% 46% 85 6413 94% Tl 11 1024 60 4 327 17 2321y 160 160 1365 674 a7 181 199 104 274 58% 16 491 1% 140 89% 624 043 68% 42 49 29 95 8 18% 7% 10% 3 86 60y 40% 12 30% 24 58% 4 TO% 41 107 88l 298% 195 1041 99 209's 169 867 8214 T 40 40 90 17% 10% 180 5% 22w 9 15 0ln R 10% 79y 92 « 11% 5% 20 66% 801y 0% 60 29% 5 491 207% 32 20 131 01 0% 1% 9 104% 40 60% 48 140% B2 128 116% 136% 50 8916 78 11% 3% 100% 3% 35 6 13% 32 5% 0% E7ia 79 2481 1621 51t 36 55% 29'4 44 10 @2y 22 50 5t 22% 10, % 59 1] % 12% 192% 4T 6 76 31% B4 0% 4 1is 136% 105 61% 28 98% 60 265% 200 48% 35 654 441 467 210 42% 14 9% 45 48% 30 595 40% 360 300 201 4% 120 80 32 16% £0% 46 279% 195 1% 4'a 64 10% 22 27% 464 80U 28 48% 315 115 o 98% 30% 4 41 49 % 41 154% 120% 46% 86 39 101 5 135 140 109 BEN 2Tl W 30 420 4644 91 62% 51% 79 99 63 24% 93 3b% 92% 96% 26% 30% 183% T0% 64 23% 1% 90 15% 59'4 11 50 45 12 18% 95% 50 1% 12 6 6% 50 0 82 32 19 85 11 43 118 formed the crew of the plane, were ‘without provisions, Dorrell said, but were unhurt. A mail plane with pro- visions and 60 gallons of gasoline was sent o the rescue. 30% 37% 121% 694 6% 15 ~Prey 1920— % Cuba Ca 27 Cuba Cane Sug: 584 Cutler-Ham (3%) 38% Davison Chem. . 27% Debenhama (a1.59) e FINANCIAL. TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Stock and Dividend Rate. Abitibi P& P pf(8). Advance Rumley. Advance Rumley p Ahumada Lead. ..., Alr Reductn (14%). Ajax Rubber. Alleghany Corp. Alleg Corp pf (F34). Alleg Cpf (5% )xw., Allled Ch & Dye (6). Allled C& D pf (7). Allis Chalm (m) (2). Alpha Port Cemt(3). Amerada Corp (2) Am Agricul Chem. .. Am Agricui Ch nf Am Bank Note(ft3). Am Beet Sugar...,,. Am Bosch Magneto. , Am Brake Snoe 2.40. Am Brown Bov Elec. AmCan (t4).....400 Am Car & Fdy (6)... Am Chicle (2). Am Com Ale (k1.60). Am Kuropean Sec. .. Am & For Power. Am & For Pw pf (7). Am & For Pw 2d pf.. Am Hawatian (1)... Am Hide & Leather. Am’Home Prd (3.60) American Ice (3).... Am Internat (12) Am Locomotive (8). Am Locopf (7)..... Am Mach & Fdy (15) Am Metal (3). Am Piano. Am Pow & Lt (11). Am Pow & Lt pf ( Am P&L pf A st (5). Am Ra&Std San 1%. Am Republics. .. Am Roll Mill (2). Am Seating (2) Am Sm & Ref (4) Am Sm & Ref of (7). Am Snuff (3). Am Steel Fd: Am Stores (12 Am Sugar Rfg (6)... Am Sugar Rfg pf(7). Am Sumatra (3). Am Tel & Ca (5). Am Tobacco (8) Am Tobacco B (8), Am Type Fdry (8)... Am Water Wks (c1), Am Water W 18t(6). Am Woolen. Am Woolen pf Am Writ Paper ctfs. Am Zinc LA&Sm. Am Zinc pf (6). Anaconda Copr Anaconda W&C (3) Anchor Cap 12.40)... Andes Copper (3) Archer-Dan-M (2). Armour Del pf (7). Armour 111 (A)....e Armour 111 (B)..... Armour 111 pf (7) Arnold Constabl Art Metal (1%4) Asso Appl Ind (4) Asso Dry G (2%) Ass0 DG 1st pf(6). Atch T & S Fe (10). Atch T&SF pf (6) Atl Coast Line (110). Atl G & W Ind! Atl Refining (12).. Atlas Powder (4)... Atlas Tack...o..os Auburn Auto (34) Austin Nichols. Autosal . Aviation Corp. Del.. Baldwin Loco (new) Balto & Ohio pf (4) Bang & Aroos (3%).. Barnet Leather. Barnsdall (1234). Beacon Oll........ Beatrice Cream (4).. Beech-Nut Pack (3).. Belding-Heminway.. Bendix Aviation (2). Best & Company Bethlehem Steel Bethlehem St pf (7). Bohn Alumn&B (16). Bon Ami A (15).. Booth Fishertes. . Borden Co (3).. Borg Warner (4). Botany Con M (A).. Briggs Mfg Briggs&Stratton(2). British Em $tl 2d pf. Brockway M T (3).. Bklyn-Manhat (4). Bklyn-Man pf (6)... Bklyn Union Gas (5) Brown Shoe (2% ) Bruns-Balk-Col(3 Bruns Ter & Ry S... Bucyrus frie (1).... Bucyrus v pf (214). Budd (E Gy (1%) Burns Bros B....... Bur Add Mach 11.80. Bush Term (g2) Butte Copper & 3 Butte & Superior (2) Byers (A M)... By-Prod Coke (1) Calif Packing (4) Callahan Zine & L. Calumet & Ariz (10 Calumet & Hecla(4). Canada Dry G A (6). Canadian Pac (10).. Cannon Mills (2.80).. Cap Adminstratn A.. Case (J 1) (6) Cavanagh-Dobbs. Celotex (3). Cent Aguiri 5 Cant Alloy Steel (2). Cent RR of NJ (112) Century Rib Mills. .. Cerro de Pasco (6). Certain-teed Prod Checker Cab Mfg Co. Ches & Ohlo (10). Chesapeake Corp Chi & Alton. Chi1 & Alton pf. Chi Great Western. Chi Great Westn pf. Chi M1l St P&Pac. .. Chj M1] 6t P&Pac pf. Ch1 &N W (4) Chi Pneu Tool. Chi Pneu T pf ChiR1& Paoc (7) Chi R1& Pacpf (6). Chickasha C O1l (3). Childs Co (2.40). Chrysler Corp (3). City Ice & F (3.60). City Stores (1). Cluett Peabody (5) Coca-Cola (4) Coca Cola A (3 Collins & Alkman Collins & Ak pf (1). Colo Fuel & iron. Colo & South (3). Col Gas & El (2).... Col Gas & E1 pf A 6). Columb Graph(87c). Columblan Carb(15). Com Credit «2).... Comm Credit A (3) Comm Invest Trust. Com Inv Tr pfi6l% ). Comm Solvents (n). Comm&S0(bb%stk) . Conde Nast Pub (2). Congoleum-Nairn. Cong Cigars (15%) Consol Cigar (7) Consol Film (2). Consol Film of (2) Consol Gas (3).. Consol RR Cub pf(6) Consol Textile. Contatner Corp A. Container Corp B. 47w Contl Baking A Contl Baking B Contl Bank NY 1.21 Contl Can 2% ) Contl Insurance (2) 6% Contl Motors (80c). 2515 Conti O1l of Del. Corn Prod (134). Coty Inc 12) . Crossley Radlo 42'% Crown Cork & Seal.. Crucible Steel « Suj Cuba Co. 10% Cuban-Amer Sugar. . Cudahy Packing (4). 112'% Curtis Publish pf(7) 11'% Curtiss Wright Corp 212 56 ) 4 14 £ Curt Wright Corp A. 9 2 10 Bales— Add 00. High. Low. 384 Abitibi Power & Pap 49'% 80 25 199% 9 17 151 i 13 it 1 4 104 8% 6 a7 106 102% 104 100 31 100 100 THE EVENING STAR. WASHINGTON. 49 79% 1 49 80 154 237% 1% 1% 192 3 610 36% 9874 11065 106t 1061 90 €0'a 60 5 100 100 28 23 110% 1081 108% 4 70 310% 193% Am Tel & Tel (9).... 113 10 2 4 4 10 1 396 4 8 5 4 4 1 8 1 16 10 30 a87% 30 30 2181y 2 22015 2 1470 147% 147% 34 1064 103 2 103 103 12 31 8 15 R0tk 103 6974 59% 47y 83 % 4% 6813 175% 2614 % 4314 921y 216% e 104 103 1% 50l X 1% 200 141 14% R0tk RO 01% 102 6915 B6x 441, 347 83 Sl 4n 681 17 45 46 42y 42 921y 7 44% 3 83 8% 4% 681y 1 7 264% 26 1 3 152 103 180 8 50 1 1 03 80 76 49 103 180 6 49% 20 119% 114% 118 1 6 231 9 12 62 84 145 115% Baltmore & Ohlo (1) 40 12 39 8 7 10 1 13 6 4 1 150 3 1 10 29 8 8 4 46 16 27 4 5 3 10 g 3 3 16 5 30 2 54 200 . 226 14 101 514 27 101 1 804 75 9% 4874 507% 126 70 78 4% 18 3% 611y 8314 1 16 31 68 49 116% 36% 5% 1% 114 7814 212 37 5014 305 5 8314 19 5914 23 56 49 107 94 107 119 60 2 18 10% 10% 27% 9% 31 28 80l 72 1285 8014 72 1077% 1 75 481 509 471y 50 6974 781 4 76% 46 7 17% 33 5% 231 €0 8274 60 46 70 784 4% 77 4614 7 18 3314 T4 1% 1121 364 116 59 17 11 59 1% 18 614 55 13% 11 Prev. Close. Close. 1947 196% gt 6 265 23% 074 5 9% 47 51 ). 161 1035 102% 108 102% 125'% 125% 125% 693 79'a 4% 763 47 6% 174 33 6 24 60% 1% 16% 6% 58 8 5314 13 10% 9 44% 44n 4y ddw 1 13 14% 23% 95% 2% 8% 113 14% 2244 94% 4% 8% 113 14% 42 13 14 23% 23% 95% ::% 28% 83% 80% .56 MobawkCarpet 13% ~Prev. 1929~ High, 226 Low. 181 Stock and Dividend Rate. Delaware & Hud (9). 169% 120% Del Lack & W (17).. 3% 87 653 1074% ok W% 55% 8 23 9514 2714 168 34 8% 1 a0 103 i 90 4 3544 40% 97t 881y 68 101 19 769 367 16 45 60 75 28% i 12% 68 14 7 43% 11415 101 100 19 32% 30 32% 65'% 20y 16% 105 20% 64 80 104 29'% 131y 25 45 60 50 50 3414 60 81 129% 25% 5 2314 20% 75 120 8% 22 15 149% 5a 7 5814 1813 62% 46 92 63 26'% 403 26 14% 105 78 65 18 40% 24 6314 24% 45 30 9% 67 454 2 324 38 12% i 30t 60 25 1054 B1'% 8l 37 58 481 87 87 4% 53% 18 841y 10 357 50 43 1% 951y 100 13% [ 40 87 B35, 148 14% 60 26% 11% 618 28 40 4% 731 i5 9% 1018 20% 1 1 225 9 19 80 2 68'% 42% 101% 62% 120 Denv & R G W pf. Devne & Ray A (13). Dome Mines (1). Dominlon Strs(1.20) Drug Corpn (4). Dunhill Inter (34) Du Pont de N(t4%4). Dwpont 4 N deb (6).. Durham Hoslery. ... East Roll MIIT (13). astman Kodak(18), Eaton Axle & S (3).., Eitingon-Sch (2% Elec Auto Lite (6) Electric Boat. .. Kl Pwr & Lt (1)...., 1 Pwr & Lt pf (7)., ec Stor Bat (5) tk Horn Coal. ndicott-John (5) Eng Pub Serv (11) Eng PubSve of (5)., Equitable BlAg(23%) Erfe R R..... Erie R R 18t pf (4).. Evans Auto Li12%). Fatrbanks Morse (3) Fed M& S pt (7) ed Motor Tr (§0c). ed Watr Ser A 2.40, Fid Phen F Ins (2).., Jllansbee Bros (3), Foster Wheeler (1).. Fox Film A (4) Freeport-Te: Gabriel Snub A...... amewell Co (6).... Gardner Motor...... Gen Am Tnk Car(34) Gen Clgar (4) Gen Electric (16). Gen Elec spec (60c). Gen'l Food Corpn (3) Gen Gas&E] A (e1%) Gen Mills (13%). Gen SMotors (13.30).. Gen Motors pf (7)... Gen Outd Ad vte (2). Gen Public Serv (b Gen Ry Signal (5). Gen Refrac (14). Gillette Saf Raz(c5). Gimbel Brothers. ... Gimbel Bros pf (7).. Glidden Co (m32). Gobel (Adolf). Gold Dust (234). Goodrich B F (4) Goodyear Tire (5)... Gotham Silk H (2%) Gould Coupler. Graham-P. Graham-Paj, Grand Stores (1).. Grand Unton. . Grand Unilon pf (3).. Granite City Stl (4). Grant W T (1) Grt North pf (6).... Grt North pfet (5) Grt Nor Ore (a1% ) Grt West Sug (2.80). Grigsby Grunow (2). Gulf Mo & North, ., Gulf Sta Steel (4) Hahn Dept Sto: Hartman B (1.20)... Hayes Body b8 % stk Hercules Mot (1.80). Hershey Chocolate. . Hershey Choc pf (4). Hersney Ch pr pt(8). Holland Furn (e2%4). Hollander & Son. Houd Hersh B (1%). Hsehld Fin pf $3.10.. Household Prd (14). Houston Ofl....... Howe Sound (4% ), Hud & Man Ry 3.50 Hudson Motor (5)... Hupp Motor (£2). Illinots Central (7) Independ Oil & G (2) Indian Motor Cycle, Indian Refining. . Indian Reftining ct. Industrial Rayon. Ingersoll-Rand 6% . Iniand Steel (3%). Inspiration ($)...... Interboro Rap Tran.. Intl Business M (5) Intl Agricultural. Intercontinental Rub intl Cement (4) Int Combustion latl Cmb Eng pf (1). Int Hydro B1 A (e2). Intl Harvester (2% ) Intl Match pf (3.20). int Mer Marine etf Int Nickel of Can(1). Intl Pap & P A(2.40). Intl Pap & Pwr B.. Intl Pap & Pwr Intl Print Ink (2%). Int Tel & Teleg (2).. Int Shoe (2% ) Intl Silver (18). Inter Dept St (2)...4 Intertype (f11%) Investors Equity(2). Island Creek Coal(4) Jewel Tea (3) Johns. Vil Jordan Motor Car. Kan City Sou (6).. Kan City Sou pf (4).. Kaufmann D S (1%) Kayser Julius (4). Kelly-Spring T :( y Hayes (2) Kennecott (6).. . Kimberly Cirk(2%).. Kolster Radlo. . . Kraft PhCh (1%)... Kresge S S (1.60) IKresge Dept i IKKress (SH)Co (nl1). Kreuger & Tol(1.34). Kroger Gr&Baki(cl). Lago Oll & Trans. Lambert Co Lee Rubber & T Lehigh Valley Coal Leh Val Coal pt (3).. ' Lehn & FInk (3)..... Libbey Owens (1)... Liggett & My (15)... Liggett & My B (15). Lima Locomotive. Liq Carbonic (14 Loew's Ina (2) . Loew's Inc pf (8%).. Loew's pf x w (614). Loft Inc. . .ooes Loose- Wiles (2.60). . Lorillard (P) Co. Lorillard (P) pf (7). Loulsiana Of1 LouG & E1 A e Ludlum Steel (2). .. Mac A & Forb(12.85) McCall Corp (4). McCrory B (2). McCrory pf (6).... Mclntype Pore M(1) clieesport T P 4). McKesson & Rob 2) McKes & Rb pf(314). McLellan Strs Mack Trucks (¢ Macy (RH)&Co(et3) Madison Sq G (1%). Magma Copper () Man Elev mod (d5).. an Shirt (2)....... Marscaiho Oll Exp. Marlin Rock (13%).. Marmon Motor (4) Mathieson Alk (e2).. artin-Parry... . ay Dept Stors(c2). Maytag Co (12) Maviag Co of Melville Shoe (140). Mengel Co... ‘ Mexican Seaboard Miami Coprer 4). .. Mia-Continent P (2) Middle States Ol Middle States Ofl et. Midland St pf(112). Miller Rubl Minn Moline Pwr. Minn Moline pf 6% Minn & St Louls M St P & SSM of. Mo Kan & Texa Mo Kan & Tex Missouri Pacifie Missour] Pao pf Sales— Add 00. High. 6 187 3 146% 7 62 40% B8 3% 104 41 168 M e e N 2ERuo-SnlhnauaZen ar 2= e - I —ed o 3 Kok NG eRmeRORas 2814 ® 23 o e @ 2R B e Rl o PE--JEr T 214 8214 24 1% 49% 1084 864 W, 51% 108% 15 87 13 144 18 93 5 108% 86 143% 144 o D 0, ~Prev 1020~ Stock and Hish. Low. Dividend Rate. 8016 6SY% Monsanto Ch (k1% 166% 50 Montgomry Ward( 81% 65 MorrellJ (3.60). 6% 17 Mother Lode (40c). .. 60% 1214 Motion Picture 31% 31 Motor Meter G& B., 142 19 Motor Produets +10.. 32 Motor Wheel (4).... Mullins Mfg. Murraay Corp (k#) . Myer(FE)& Bro (2). Nash Motors (§) Nat Acme (1%). Natl Air Trans Natl Bella Hesn(21). Nat Biseuit (1734) .. Natl Cash Reg A (14) Natl Dairy(cl%). ‘at! Dept Stores. Sales— ) P 3) 356 18 23 42 at] Lead (5). Nat!Pwr & Lt (1)... Natl Radtator. Nevada Copper (3).. Newton Steel (3).... N Y Alr Brake (3)... N ¥ Central (8). N Y Chi & St L (6) N Y Chi & St L pf{6) NY NH & Hart (5).. NYNH&HDI (D)., NYOnt& West..... N Y Ratlways pf.... Norfolk South (214). Norfolk& Wstn(+10). North Am(b10% stk) North Am pf (3) orth Am Ed nf (6). Nor Ger Lloyd(3.41), Northern Pae (5). North Pac et (5).... Norwalk Tire & Rb. . 01l Well Supply..... Oliver Farm Equip. . Ollvr Fr Ep cv nt(3), Olivr Fr Ea nf A(6). Omnihus Corp. Otis Steel (234)..... Otis Steel nrof (7)., Owens 111 Glass (4).. Pacific Gas & E (2).. Pacific Lighting (3). Pacific Ol atub, Packard Motor..... Pan-Am Petroleum. -Am Pete B Panhandle P & . Paramount-F-L (3). Park & Tilford (13). Park Utah. .. Patha Exchang Pathe Exchange A Patino Mines (3.89). Peerless Motor Car. . Penick & Ford. .. Penn Dixle Cement. . Pennsvivania RR(4) Penney (JC).. Pen (1C) pf A (6) Pet Milk (13%). Phelps Dodge (3)... Phila& Read C& T Philip Morris (1) Phillips-Jones (3) ... Phillins Pete (1%).. Phoenix Hoslery.... Plerce-Arrow A. “iercs Of1. Plerce Ol pf Plerce Petroleum. Phlisbury Fl (123).. Pirelll Co A (2 88) Pittsburgh Coal. Pittshureh Coal rt Pitts Terminal Coa! Poor & Co (12). P Rican Am To ( P Rican Am To (B).. Postal Tel & Cof(7). Prairie Oll&Gas 13% Prairie Pipe L t4%.. Pressed Steel Car. Proc & Gamble (2) Prod & Refiners. Pub Sve NJT (2.60)... Pub Sve NJ of (6)... Pub Sve NJ pf (7). Pub Sve E&G pf(6).. Pullman Corp (4). Punta Alezre Sugar. Pure Ol (1%). Purity Baker|: 10 Corp. ... Rad1o pf B (5)...... Radfo-Keith-Orph A. Raflway & Exp (3).. Raybestos Manhatn. Reading (4).. Reading 2d pf (2). (R)&Co 18t(7).. Remington-Rand. ... Reming-Rnd 1st (7). Reming-Rnd 2d (8).. Reo Motors (11.60).. Repub Ir & Steel(4). Reynolds Sorine. Reynolds Tb B(2 Rhine West (1.92) Richfleld Ol (2)..... Rio Grande Of1 (k2). Ritter Dental (234).. Rosain Ins (220).... Royal Dutch (23.20). Safeway Stores (3).. St Joseph Lead (13). St L-San Fran (8)... St L-San Fran pf (§) St L Southwi Schulte Ret 140% 59 109 91 60 10% 12 124 115 110 Seagrave (e1.20) Sears Roebek (2% ) Second Nat Inv Corp. Seneca Copper. i Servel Ine. . Shattuck (F 3) (1).. Shell Unfon (1.40). .. Shubert Theater (5). Simmons Co (3). Simms Pet (1.60). SinclatrOfl (12%). . Sinclair Ofl of (8)%.. Skelly O11 (2) . Sloss ShefMeld steel. heflield pf (7) Sclvay Am In pf5%. So Porto R Sug 12%. Southern Cal EA (2). Southern Dairies B.. Southern Pacific (6). Southern Rwy (8). Southern Ry pf(5) Spang-Chalfant..... 2 Sparks Withngtn(1). 164 Add 00. High. Low. Close. Cluse. 70's 31 SATURDAY, OCTOBER 26, 1929. Prev. | —Prev. 1020~ High. Low 45 66% 55% 1% 445 118% 43% 243% 0% 70s 4% 69 2 21% 8 80 3 Spie 116 80% 31 64 48 2674 21 21 2031 14 9 13 42 119 Sto 25 55 130 35 10 40 14 83 i 9 4“ 3z 91 209 121 68 41 53 45 20 30 30 9 39 2 39 89 128 23 19 kil 35 163 3¢ 4% 60 40 8 Vir 52 6 71 15 139 20 0 57 25 61 48% 93 1001 147 9T% % ne 53 43% 49% 40 29% 10 16 17 14 7 82 43 70 11 49 120 27 134 471 26t 25 101% 25 30% 109 34n 48 71 104 3514 67% 8 ) . cash pavments based Unit o ¢ taration. | 4% 10 ateck. §Plus 2 Paid this gear—no in_stock. d Payabl fPlus 10% in stock. 1Plus 8% 1o stock. 1341 14519 9815 32 3% 815 10% Stock and Dividend Rate. 35% Spencer Kelg(1. 20 Stand Brands (1%) ‘Std Brands pf(7)... 8 Stand Com Tob (1).. Stand Gi 62% Stand G Stand Inv Corp ( Stand Oil Calif (13). Stand Ol N J (12) 34% Stand ON1 = ¥ (1.60). 24 Stand Plate 01 3314 Starrett(LS1Co(2). . Sterling Sec A). Sterling Sec pf(1.20) Sterling Seccv pf(3) 47 Stewart Warn(j31§). & Webster. 55'4 Studebaker (36)...0. 9% Superior Ofl. Superior Steel. 4'5 SYmiNgton.....eese 10% Symington A 18% Telautograph 11.06.. 14% Tenn Cop & Ch (1) 57% Texas Corp (3) Tex Gulf Sul (4) Texas & Pac (5). 11% Texas P C & Oil ( 9's Texas Pac Land Tr.. 16'3 Thatcher Mfg Thatcher pf (3.60).. 34% The Fair (2.40)..... Third Avenue. . Thompson J R (3.60) Tide Water Asso. 73'% Timken Rol 4% Tobacco Prod 1. ‘Tob Prod ctfs 1. 9145 Tobacco Pr A (1.40). Tob Prod ctfs A 1.40. 6% Transcontinenta 38% Trico Prod (2% ) 18% Truax Traer (1.6 Truseon Stl (£1.20). Twin City Rp T (4). Underw-E1-Fish(4). Union Bag & 5'4 Unlon Carbide(2.60). 3% Un Ofl of Cal (32) Union Pacific (10) Unlon Tank Car(5).. 60's Utd Alrcraft&Trans. Utd Afreraft&T pf 3. Utd Biscult (1.60) 74% United Carbon. 4% Utd Cigar Stores. 4% United Cigar Strs pf. Utd Cigar St p£(8).. 3114 Utd Corporation. Utd Corp pf (3)..... Utd Electrie Coal(3) 109% Utd Fruit (e4). Utd Gas & Imp : 92% Utd Gas & Im pt(§ Utd Piece Dye Wk United Stores A..... United Stores pf (6). 12% U S Distributing. U S Dxpre: US & Forelgn U S & For Sec pf(6). 101% U S Freight (3). 29% U S Hoffman U S Ind Alco (6).... 121, US Leather. U S Leather A (4) U S Plpe & Fary (2). U 8 Realty (5) 40'% U S Rubber 69's U S Rubber U S Smelt Ref (334). 50% US Smelt Ref pf 3% U S Steel (7) 139% U S Steel pf (7). 43% Unly Leaf Tob (3)... 3% Unlv Plp Util Pwr & Lt A (e2) Vadsco Sales........ 671 Vadsco Sa Vanadium Vick Chemical(2%). nia-Car Chem. . 33% Virginia-Car 6% pf.. Wabash 88'¢ Wabash pf A . 224 Waldorf Systm (1%) 231 Walworth (1.20) Ward Baking B. Ward Baking pf (7). 401 Warner Bros Pic (4) 43% Warn Br P pf(2.20).. Warner-Quinian (2). Warren Bros (15). er-Eisenlohr. . O & Sn pf (4).. 48% Westn Dairy A (4).. 22's Westn Dairy (B). Western Maryland. . Western Md 2d pf... 31% Western Pacific. Western Pacif pf. 179% Western Union (3).. Westngh Alr Brk(2) 137's Westngh E1&M (4).. Westvaco Chlor (2). Wextark Radio (e2). White Eagle Oil (2). White Motor (1).... %« White Rock M S (3). White Sewing Mach. Wilcox Ol & G: Wilcox Rich B (c2). Willys-Over (¢1.20). 4% Wilson & Co. Wilson & Co A.. 46'% Wilson & Co pf. Woolworth (2.4 Worthington Pump. Wrigley Wm (4) 61% Yale & Towne (4)... Yellow Truck & C. Young Spring (3)... Young Sheet & T (i Zenith Radio (2).... RIGHTS EXPIRE 4% Allis-Chal.,n.Oct. 31 % Am Rolling M Nov- i3 Arch-Dan M . Jase (JI) Col Carbon % Domin. St Gen Asphalt % Gimbel Bros. 1% No Am Co. Dividend rates as ing luss FINANC Sales— Prev. Add 00. Righ. Low. Close. Close. 36 35 35 36'% 40% 40% 40% 36% 45 45 45 45 9 68 65 65 519 33% 32% 3% 2 117% 117% 117% 2 10% 10% 10% 20 149% 146 146 5 641; 64% 64 311 31% 31 697 69% 69% 2% TI% 2% 40 39% 40 3 3 3 3814 384 28y 2315 14 13% 45 16 52% 52% 128 126% 59 59 14% 14% 28% 27% 5 5 1 1 19% 19'% 15% 15 597% 58% 63% 634 135 135 14% 14% 11% 11 26% 26% 44 43 37 37 10'g 10% 40 40 16% 15% 84 84 22w 21 108% 6's i 11 95 9's 40% 21 4“4 34% 145% 18 106% 49% 266 149% 7 70 50 9% 6 4% 55 4 48 68 32% 118 10% 146% 64 81 69%% 92 39% 21 39 227% 13% 45% 51% 125 587 14° 25 % 104% 19% 15% 5914 634 135 14 11 265% 45 37 10 ' 40 15 84 20% 108% 6% 4 12 9% 9%, 387 21 44 32% 145% 16 106 4814 255 145 4% 68 50 T6% 6 5% 55 43% 4T 20 116 3814 94% a1 1214 40 18 5 41 El (3%) t (4) 584 224 13% 4 51% 125% 584 131 27% 5 11 19% 14% 58% 634 135 14% 1 25% 43 87 10 40 15 84 21 6% 4 11 per. . b 38 95 a3 190% 16 23% 20 80% 4b% 70 40% 525 52% 2024 203'% 14215 143% 45% 454 4% 40 6% 674 0% 0% 8 33 Yeeen 17 o5 41% Rad. ot (7) 4) 33% 53 90% 29 40 90% ‘28 39 7 73 49% 4 23 1741% 23% 18 5714 9% 26% 215 30 a1y 54 241 32% 18415 5014 ..Novis Nov. 11 50 above table on arterly ar ea. tParity extr 33 In preferred stock. lar rate. b Payabie in cash b Plus 3% TODAY'S CORPORATION NEWS NEW YORK, October 26.—The fol- lowing is today's summary of all fm- portant corporation news prepared by Standard Statistics Co., Inc., Associated Press. News Trend. Reassuring statements by banking, in- dustrial and governmental leaders on the soundness of the business structure occupled the forefront of the financial news of the day. The weekly and mer- cantile reviews also emphasized that the drastic securities readjustment had no parallel in the existing commercial situation and that the market action represented primarily a purging of a situation inherent to itself. The trade reviews pointed out that while general business had not _retained’ all of its former buoyancy, there obviously was a sharp distinction between moderate re- cession in business and fundamental unsoundness. Bank clearings for the week ended October 24 totaled $14,825,556,000, an increase of 255 per cent over a year ago. Of the 23 cities reporting, 19 showed gains over a year ago. New York alone reported a 34.7 per cent increase, while the total for the 22 cities outside of New York ran 7.2 per cent above a year ago. The Companies. Allis Chalmers Manufacturing Co. earned $2.95 per share (adjusted to a 4-for-1 stock split) in 9 months, against $2.14 a year ago; had $13,390,832 in un- filled orders on September 30, against $9,681,214 at the end of 1928. American European securities earned $3.61 per common share in the first 9 months, against $5.58 a year ago, on the basis of avergge shares outstanding in h 3 Atantls Refining sovuires Eanpire mene. for the | State Oil of Binghampton, N. Y. Prairie Pipe Line earned $4.22 per ‘Atlas Powder earned $6.29 per share |share in first nine months, vs. $4.89 in in nine month against $4.59 year ago.|entire 1928. Bush Terminal earned $2.98 per share Radio Corporation of America an- in nine months against $2.59 in likc | nounces merger of radio interests of 1928 period. Chicago, Milwaukee, St. company, Westinghouse Electric, Gen. Paul & eral Electric and Victor Talking Ma- Pacific, September, net off 16 per cent; |chine for production and sale of radio nine months slightly below year ago. Corn products Refining carned $3.78 per share in $3_year ago. Delaware, Lackawanna & Western nine months, 10 per cent above year ago. Erie Railroad earned $4.09 per com- equipment. Reiter-Foster Oil declares 10 per cent first nine months against | dividend on common, same as paid | September 1. |~ Sherwin-Williams _declares quarterly Railroad, September, net up 8 per cent: | dividend of $1 and 121, cents extra on common; previously paid 75 cents reg- | ular and 25 cents extra. Stewart-Warner to discontinue pay- mon share in nine months against $2.66 ment of quarterly stock dividends after year ago, February 1, 1930: considering increase Great Northern Railway, September, |in cash rate to $4 from $3.50; earned net off 10 per cent; nine months, 20 per cent above year ago. Jewel Tea declares $1 extra and reg- ular 75 cents quarterly dividend on com- mon. Louisiana Oil Refining earned $1.12 per share in first nine month against 79 cents in like 1928 period. Maytag Co. earned $2.35 per share in first nine months against $1.83 in same period of 1928. Michigan Steel earned $7.68 per share in first nine months against $4.77 in entire 1928. Missouri Pacific Railroad seeks per- mission to guarantee outstanding se- curities of New Orleans, Texas & Mex- ico Rallway and International Great to 37'3. Northern under leasing application sub- mitted to Interstate Commerce Com- mission. National Distillers products, nine months, net estimated at $2.76 per common share before Federal taxes. Norfolk Southern had September net off $115,591, against $55,450; nine-month net was 16 per cent below 1928 period. Penn-Mexican Fuel declares $1 divi- dend, same as paid in previous quarter. Pittsburgh Screw & Bolt earned | $1.75 per share in nine. months to tember 30. wer Corporation of Canada de- clares’ a ) i g i e $5.15 per share in nine months, $4.56 year ago. United Biscuit of America earned $3.02 per share in first nine months, vs. $1.89 year ago. Wheeling & Lake Erie September net Off 3 per cent; nine months, 17 per cent above vear ago. ‘White Motor increases annual divi- dend rate from $1 to $2. - CHICAGO DAIRY MARKET. CHICAGO, October 26 (#).—Butter— Easy; receipts, 7,343 tubs; creamery, ex- tras, 43%; standards, 424 ; extra firsts, 42 to 43; firsts, 38 to 40; seconds, 37 Eggs—Steady; receipts, 4,687 cases; extra firsts, 45 to 46; graded firsts, 44; current firsts, 39 to 43; ordi- nary firsts, 36 to 38; refrigerator extras, 38 to 381%; refrigerator firsts, 37 to 37}, Poultry—Alive, weak; receipts, 5 cars fowls, 19 to 23; No. 2's, 16; Springs, 21 a22: No. 2, 16; roosters, 19; turkeys, 20 to 30; ducks, 20 to 23; geese, 22. SILVER QUOTATIONS. NEW_YORK, October 26 (P).—Bar silver, 50; Mexican dollars, 37%. assist financially in the public bulldings in newly vs. IAL. STOCKS ARE LOWER IN QUIET SESSION Market Becomes Steadier as Reassuring Statements Aid Confidence. BY STANLEY W. PRENOSIL, Associated Press Financial Editor, NEW YORK, October 26.—A further backwash of selling carried prices mod= erately lower in & comparatively quist session today, the ticker fell only about 20 minutes behind the market, in cone trast to the delay of hours on Thurs- day and considerably more than an hour yesterday. The great accumulation of reassur- ing statements by leaders of business and finance as to the fundamental soundness of conditions, capped last night by a statement by President Hoo- ver, had tended to quiet the market considerably, but many traders who had suffered a severe nervous strain while hanging on to their stocks dur- ing the week had lost their appetite for speculation and decided to unbure den themselves of their holdings and have a peaceful week end. Business News Encouraging. Furthermore, definite indications that banking support which came into the market late Thursday and yesterday has no other interest than stabilizing prices made the prospect of any im- mediate substantial upturn rati dis- couraging. Also, the fact that much stock bought for support purposes will be unloaded on advances, and tend to hold stocks stationary, caused many traders to lose interest in the market for the time being. Business news was fairly encouraging. The week end trade reviews stated that there had been some falling off in retall trade, but attributed it largely to unsatisfactory weather conditions, While fears have been expressed that the break in the market may have im- paired public purchasing power, the head of the largest mail order house ; sald his firm was preparing for record- breaking holiday trade. Further raile way earnings statements for September were fairly satisfactory. Widely ace credited reports that large banking ine terests are pushing plans for another large food merger were also ercourdg- ing as_indicating that these interests are definitely acting on the expressed conviction that financial conditions have been stabilized. Gains at Opening. At the opening of the market there was a wide assortment of gains of to 5 points. Case Threshing jum 14'; and Hershey nearly 10, the latt being reported as included in the projs ected food merger. Much of these ade vances were later lost, however. General Electric was depressed nears ly 10 points and such shares as West~ inghouse Electric, Johns-Manville, Sime mons and Columbian Carbon, about ¢ . to 9. American Can, American and Foreign Power, Eastman Kodak, Macy, Columbia Gas and Ludlum Steel lost to 5 points. United States Steel a little, but again fluctuated in an extremely narrow range, indicati strong efforts at stabilizing it aroun the current level. A few shares reached new lows, Hupp sagged to 29. By the Associated Press. NEW YORK, October 26.—Iron and steel mills and other branches of the metal-working industries actively ene tered the market for electrical eq ment and apparatus in the past weel Electrical World reported today, Wo jTecelved from the important buying centers throughout the country indi« cated industrial demand is on the upe grade and business originating from other sources for all types of electrica) equipment continues at a steady rate, Manufacturers regard the outlook for iti;;dnext month or two as decidedly good. i The demand for rayon will exceed 25 per cent increase in production this vear, it is stated in the Index, economie | review published by the New York Trust | Co. Imports now provide from 10 ta 115 per cent of the total consumption, the review adds. The General Water Works & Electria Corporation announces that it has ac- quited more than 98 per cent of the outstanding stock of the San Jose wate# | works, serving the City of San Jose | and environs in the Santa Clara Valley of California. A local dress manufacturer reports that 90 per cent of the replies received during the past 10 days in answer to 3,000 questionnaires asking buyers on opinions of skirt lengths favored gar< ments 4 to 5 inches longer than those shown last season. The wholesale anthracite market ex= perienced a slight drop in sales because of mild weather this week., Seward'y Journal says today. The decline was said to have been welcomed in some | quarters, as it gave operators a chance to catch up on deliveries, which wers about 10 days behind on stove coal. Wall Street Briefs By the Associated Press. Declaration of an extra dividend of, $1.50 a share on the common stock of the Chile Copper Co. led many Wall Street observers today to feel that a somewhat similar action may be taken by directors of Anaconda Copper Cos at their December meeting. Directors of the White Motor Co. to= , day increased the annual dividend rate on the common stock from $1 to $2, by the declaration of & quarterly pay- ment of 50 cents, payable December 31, to stock of record December 13« ‘The annual rate had been in effect since early last year. ‘The net operating income of the Delaware, Lackawannd & Western RA1L road for September amounted to $12 522,330, compared with $11,365,631 in September, 1928. s The International Telephone & ‘Teles graph Co. announced today that the Venezuelan government had gr: the All-American Cable Co. the right to take over operation and mainterrahcd of the French Cable Co. system i country. ‘Wall Street heard today that négotia# tions have been completed for the con= solidation of the Kraft-Phenix Cheese Corp., Hershey Chocolate Corp. and the Chocolate-Palmolive Peet Co., and thak formal announcement will be. made soon. ‘The companies mentioned havé combined assets of about $125,000,000. Directors of the Power City Bank of Niagara Falls, N. Y., have recommended to stockholders acceptance of the to exchange their stocks for in the Marine Midland Co formed bank holding organ! trance of the Power City Bank into the Marine Midland chain:awill sl its total of banks to 17. 1 e ] BUILDING CONSTRUCTION.S By the Associated Press. e Contraction in butldi eonstmctkfi over the country is stil 'S8, Figures furnished by the Census Bu- reau, which follow, show the totals of’ contracts’ for new buildings let last week and in preceding perids in terris tory'east of the Rocky Mountains, Week eni COctober 19 $13,836,000 18,648,000 21,530,000 Confectionery costs Americans apout ®