Evening Star Newspaper, February 27, 1930, Page 11

FINANCIAL. CHINA'S DOLLAR DROPS. SHANGHAI, February 27 (#).— China’s silver dollar registered a new low exchange rate today, sinking to 33.58 gold cents and nearing the 3-for-1 ratio to gold dollars predicted in finan- cial circles. REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHERFORD Advantages ineident to direst 1520 K St. NW. National 0475 ADVANCE IN STOCK z=| PRICES IS RESUMED NEW YORK STOCK EXCHANGE ## Recelved by Private Wire Direct fo The Star Offien and Bales— High. Low. Dividend Rate. Auu.m 28% 19% Contl Oil of Del..... NEW RAILROAD CARS. Increase of $31,757 Shown | 1o in Report Filed With Utili- ties Commission. BY EDWARD C. STONE. According to the January financial :m‘ of the Potomac Electric wer Co., filed with the Public Utilities Commission today, total nn earnings !c the month amounted to $434,207.82 eoflrll.lon with $402,450.38 in Jan- or & gain of $31,757.44. Tevenues for the month ‘were $967,555.90, compared with $906,- 026.79 & Ago, an increase of $61,- 529.11. 'venues deductions $469,613.24, against $436,721.68 in Jan- , 1929, an increase of $32,891.56. company reported an increase i non-operat revenues of $28 53155 Miscellaneous come for January amounted to $14,752.28, in comparison '1'-!! uees 08 last year, a gain of $6,~ rporate income stood at lll’!““ l'l.\nlt $477,968.19 in same month last year, a gain of $34,- 726.75, while the usual other deductions took $78.487.12, against $75,517.81 last year, a difference of $2.969.31. In eonneeuon with the substantial net rln come for the month of over 31,000 “ d\ou.ld be stated that the Potomac Power Co. has adopted a new :gonup system vhuh accounts for 4,000 o‘in{be”mm W. l.. & E. Also Files Report. Railway & Electric 0) lllomed its January report with the Public vnuue- Commission today. ‘This shows ope: revenues for lhe month of 3“1067 7 in comparison ‘ll.h '.he slightly higher figure of $484,- ln“:mulry of llsdl year. Tating expenses and taxes required u%’:lli'l eomwed with $412,945.68 unoun '2! 672.. 15 mfinl e it $21,~ 78541 in the same period in 1929, Gross nvnllu. less operating penses and taxes, totaled $107,241.65, While this item last year stood at $93,. R18.19. After all other deductions the eorporation reported a net income for January of $49,371.55, compared with & net income a year ago of $28,300.64. At the request of the Public Utilities Commission the company is charging up the cost of truch;e replacements under a different item. The change in accounting methods went into effect for the first time this month and meant an increase in company’s net income of a little more than $9,000, ‘Washington Gas January ‘The Washington Gas Light Co. filed its January financial statement with 4% 23% 1% 2 2% S4w 107% 282 128 62% 2% 21% % 328 91 B4% 52 l'l‘n l“u 23% Adams Expr Il”).. 11% Advance A 22 Advance Rumley pt. % Abumada Lead. 21 Alr Way El Ap(3%). 1% Ajax Rubber. 7% Alaska Juneat 23 Alleghany Corp. 95% Alleg Corp pf (5% ).q 265% Allied Ch & Dye(n$), 121 Allled C&DpPL(T).u 49% Aliis-Chalmers (3 28% Alpba Port c.-t (l). 18 Amerada Corp (2 6% Am Agricul chun 26 Am Argicul Ch pt, 77 Am Bank Note (13). 40% Am Bosch Magneto, 46% Am Brake Shoe( 8% Am Brown Bov. 601 Am Brown B B b2(7) m. 117% Am Can (4) 75 Am Chain pf (1), 36% Am Chicle Co (1% ). 26% Am Com Aleo(n1.60) 23% Am Encaustie ()., - 856 Am European See... 55% Am Home Prod (CJ.I 85% Am lce Co (:‘llu ™ 3:..un=qn--a 3 71 Am Power & Lt (!l). 76 AmP&LpLA (33%) 30% Am Ra&Std San 13§.. 20% Am Republies. . 0% Am Rolling Mill (2). 59 Am Safety Rasor (5) 1% Am Ship & Com 12 83 Am Shipbuilding (l) 1408 69% Am Sm & Ref (4 - EL T T —N-:’ 1% 133% Am Sm & Ref pf ")- 42% Am Snuff Co (1334). 16 Am Solvents Chem. . 26 Am Sol Chovpt (3). 44% Am Steel Fdy (3) 110% Am Steel Fay pt (7).1508 46% Am Stores (2)ee.oen 60% Am Sugar RIg (5) 187 Am Tobaceo (B) 3). 120 Am Tobacco pt (6) 125 Am Type Fdry (! 88% Am Water Wks ( m 27% Contl Shares (1) 874 Corn Prod (13%). 140 Cora Prod pf (7). 244 Coty, Inc (k2).. a-- of Wht(12%). X Carpet........ Crovm Cork & Seal. . Crown W P 1st pf(7) Crown Zellerbach (1) Crucible Steel (k§). . Cructble Steel pf (‘l). % Cuba Cane Sugar. ba Co.. Cuban-Amer Sugar. « Cudahy Packing (4). Curtis Pub Co(16%). Curtis Publish p£(1), Curtiss Wright Corp, Dominion Stra Drug Corpn (4. Dunhll Inter Du Pont de N (4.70 Dupont d N deb Dugquesne 1st pf ( Durham Hosiery pf.. 508 175% Eastman Kodax (13) 75 120% Eastman Kod pt (6). 10s 27% Eaton Axle &8 (3).a 2 41 Eitingon pf ) Eleo Auto Lite !5'.- - P -T T P % pf 39% Equitable Bldg (33) Efli Iflo R Rcu Follansbee Bros (8) .. Foster Wheeler (2) .. ull/a 28'% 28% Market Climbs Higher as Vol- ume of Trading Expands Greatly. BY STANLEY W. PRENOSIL, Assoctated Press Financlal Editor, NEW YORK, February 27.—Stock prices rallied sharply again today in response to a further recovery in wheat prices and a lowering of the call money rate from 4}; to 4 per cent. More than a score of issues, including several amusement, dairy, business machine, public utility and motor accessory shares, moved into new high grounds for the year. Gains of 1 to 3 points were distributed over a fairly broad list, with a lprlnkllnl of issues marked up 4 to 7 poin Prices huded upward from the open- ing of the market, the rally gathering momentum as trading progressed. Sev- eral of the speculative favorites were taken in blocks of 1,000 to 10,000 shares by pools, but the public was still rather slow in coming back into the market in large numbers. A few season divi- dend-paying stocks, current yields of which are attractive, were bought by investment interests. Bear traders appnrently made no concerted efforts to hammer individual stocks, although brokers reported that some 1issues showed indication of scale selling on the part of these interests. Kroger Stores dropped 1% to a new low for the year at 37!. Industrial Rayon fell 6 points, s-(ewny Stores, 2%, and Johns Manvilie and - Atlantic, Gulf & West Indies 1! each. United States s'ee\ common made up the dividend of $1.75 a share, whlch came off the stock today. J. I. Case ran up 7 point, Beatrice Creamery 6 to & new high at 79, Auburn Auto 5 and Dupont, Electric Auto Lite, Brunswick- Balke-Collender and Eastman Kodak sold 4 or more points higher. American Bank Note, Westinghouse Electric, American International, Asso- clated Dry Goods, Underwood, Eiliott- Pisher, Warner Bros. Pictures common and preferred, Loews, Paramount-Fa- mous-Lasky, Borden, Radio Corporation, North _American, Remington Rand, Marlin-Rockwell, Sparks Wlt.hlnmn, Indian Motor Cycle and Lambert were 3% | among the many issues that broke into new high ground for the year. ‘There was little in the day’s business news to influence the price movement. Established ]! MONEY *f0"LOAN Bleo% % _Interest CING OR IRST AND SECOND TRUST Comult WELCH Realtors C. & 0. Coaches Will Have Single Seats on One Side. ‘The latest development in the efforts of the railroads to make normal fare travel more attractive will l;.filvfldel by the Chesapeake & Ohilo way, i was learned yesterday. As part of the equipment of the Sportsman’s Special, which will provide de luxe service be- tween Detroit, White Sulphur S Richmond and Norfolk, the Chesape: & Ohio will include coaches seating only | w, 43 persons instead of the usual 68 to 70. On the improved coaches there will be double seats on one side of the aisle and single seats on the other. This will provide more roomy seats, wider aisles and more space for hand baggage. The management ordered the cars on the theory that a proportion of passengers traveling alone prefer a se-t to them- selves. The seats upholstered and of the mvel type. —_—— Rubber-ringed milk cans are advo- cated by lovers of quiet in London. — — REAL ESTATE LOANS | *— o Large and small First Trust loans negotiated promptly at preva rates and commission, ¢ ——— FIDELITY MORTGAGE INVESTMENT CO. 507 11th St. N.W. National 2431 First Mortgages Safe—Conservative tnmmtms 42 Yars' The highest mier. EXperience est rate consist- Lfl (l!.lelll ent with absolute ,:,"‘", St = safety. Wm. H. Samders Co. Inc. As the Mexican dollar, in the currency of financial uvuhl- in crease. of everything nnd Ilvtm costs have been sharply — l’cw Company Formed. tion take over the automotive amno n-u nm‘ g&hfl wlll be held by the ew organ: \panies. two com] Over a Third of a Century Without a Loss National 2100 THERE FIRST ehtors " ho - demand — SAPETY. (TELD of principal Specially }n'f’fl":h-{\- m? oulnl-l‘g..n Sold in Lots—$100.00 Up Call or Write Standard Collateral Shares Corporation Woodward Bullding. Met. 8788, MORTGAGES RETROSPECT. Few years have been more eventful than 1929 in creating a keener respect for the estab- lished principle of sound in- vestment, This retrospection on the part of investors has been espe- cially noticeable in the marked change of investing for income rather than speculation. You'll find absolute safety in our 6'2% FIRST MORTGAGES ~and they are available wheth- er the funds you contemplate investing are small, moderate or large. In any event you will apprecnate the absolute safety- they insure. May be purchased in amounts from $250 up, B. F. SAUL CO. 925 15th St. N.W. IS NO SUBSTITUTE FOR SAFETY the utilities commission today, showi: & falling off in new income compar of last year. ting .xu.n. led $346, !01 35; I‘l.lnst AN SPECIALIST e N N.W. (National suln'n & Pust Co. Blde) National 4346. 1433 K TN PP Dist. 1015 If Dollars Consult Us Regarding \ e Doughnuts— Your Maturing Mortgage. SOME people couldn’t be more care- LONG-TERM g e Ay Lo REAL ESTATE LOANS expenses total $360,752.99 in 1929. Taxes were lower this year, being $26,440.97, compared with ~ $35,709.85, leas & total operating income, after all deductions, of $127,322.64, compared ‘with $154,206.01 last year. Non-operat- income totaled $1,666.52, compared $1,906.72 in Jlmury 1929 company's in- come reached $128,f 089 16, l(lln.lt $156,- 112.73 a year ago. Total deductions year were $62,566.07, compared flfihmfl“.’sh&tym ‘This left the company with total net GenG&EIpf A (7) Gen Ital Ed w.i. a! EE IS T 59 Atl Gulf & W 1 pf; 8364 Atl Refining (12). simply a chance to catch up—a breathing 81% Atlas Powder (4. spell—more money, to spend— And it will mean the same to them in 1985—no matter what their salary. BUT—to those men who look ahead . . . who are thinking and planning for the IuturH dollar has a definite, tangible earning power, far different from its use as something to gamble with, And among such people Swartzell, Rheem & Hensey Company has always numbered its clients . . . Men who know that an investment’s true value is measured by its proven stability, its CERTAIN earning power—a security such as the 6 per cent First Mortgage Notes offered by this oy e et neome I e~ e LR t w ( s o e, phuary was Tather 81 1o 116 Baltimore & Ohie (1) 15 severe cold snap. There were also two| 81 78% Balto& Ohlo pf (4). fewer blling days in the month under| 7% 63 Bang & Arcos (3%). Teview than in the corresponding monv.h » & year ago. Georgetown Gas Report Filed. The Gas Light Co. re- oo TR S S0 & total net income in January of $20,- 698.80, against $16,40497 in the same 1929. were $104, m 'I. th 423, i ) - WE MAKE FIRST MORTGAGES ON the higher last 5 e Homes, Apartments and Busin Properties in the District of Columbia and Nearby Maryland and Virginia RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue Decatur 3600 Mortgage Loan Correspondent New York Life Insurance Company Glidden pr pf (7) Gobel (Adolf). Gold Dust (3% ). Goodrich BF (4).aee Goodyear Tire (5)..3 13 Goodyear 15t pf () 1 Gotham Silk H (3%) 7 Gotham 8 H pf (7)..; 60s GtNotfsOP (a3%). Grt West Bug (3.80). company. gt w;;a Sug pf :B "2108 e We offer you You may obtain these Notes NOW—in g8by Grunow (2), 3 / denominations of $100, $200, $500 and Guantanamo Sugar.. oy . e . the benefit of our upwards, Gulf Sta Steel (4) 28 Gulf 8t Stl 1st p£(7), 10s Hahn Dept Stores... 27 Hall (WF) Ptg (m1) 1 Hanna pf (new) (7)., 50s Hartman Corp B 1.20 Hav El Rwy pt (6. Hayes BodY.....es Helme (Geo H) (17). Hershey Choo (5).... Hershey Choc pf(15) Hocking Val (10) Hoe (R) &Co.. Houdallle Her l (l). Housed F' pf 13.12% .. Household Prod(t4). Houston Ofl.....ccw Howe Sound (t4%) .. Hud&Man Ry (3.50). Hudson Motor (5). Hupp Motor (£2).... 29 Independ Ol & G (3) 21 The company’s deductions from oper- sting revenues amounted to $79,619.44, stood at $79,- 406.50, leaving an operal net income 84% Bklyn-Mad'Tr pf of $24,584.35, eompned with $20,319.49. 54 Bklyn&Queens pf ‘The company's non-opera income Bklyn Union Gas (5) l7 ‘was practically the same, and the 13% Bruns-Balk-Col, income was rted as $25,821.92, in comparison with $21,480.81. B. & 0. Net Income Lower. ‘The Baltimore & Ohio Railroad to- day reported a net rallway operating income in January of $2251,253, in eomp-rllnn with $2,715,615 in the same month in 1929, a decrease of $464,362. Operating revenues for the month to- taled $17420,403, against $18,767,270, & decrease of $1246867. Operating xpnss et $13,933,707, compared with $14,765567 a year ago, another | decrule of $831,860. ‘The largest item in the lower earn- ings for the month was freight reve- nues, which were $14,621,539 in Janu- ary of this year, against $15,716,772 in the corresponding rflnd last yo [y decrease of $1,095233. Passenger fic was also off for the month, this also mrm in the moderate decline in net earnings. Trading on D. C. Exchange. Trading was fairly active on the ‘Washington Btock ncmlxlnnamng, in- ¢g u a) ed be- toeen siocks' and bands. There were ok St ey Bl ¢ ‘mar] changes during & n . s ot Sz ‘Alloy St p£(1).. 108 535 Cent Rib Mitla pt (1) 108 SRSURIE Bistetet Notos. 890 Cerrode Pasco<8)., 5 George O. Schweinhaut, recently elected assistant treasurer of the Wash- in Loan & Trust Co., has been de- d to duty at the 1Weati1!..‘ndho!;lee ;‘:r ning Marc! e e e H. Do- ing, vice president in charge, and James M. Mason, assistant treasurer. Ennalls Waggaman, president of wi , Brawner & Co., Inc., in- ‘vestment bankers, who returned recent- 1y from a trip to Canada, is in Florida for & week. John F. Brawner and F. B. Pryor of the same firm spent several days in Norfolk, Va. recently. Imme- diately upon their return to Washing- ton, Mr. Pryor left for North Carolina on ‘a business trip, where he will re- P;J;.:'..?f (1“),, 108 main the balance of this week. 6 nt Tel & Teleg et 0 Inter Dept 8t (2). Intertype Corp (3. Arundel Corporation. Investors Equity (3). BALTIMORE, February 27 (Special). Jowel Tea (4).. —Last month the Arundel Corporation :',::::L‘::;‘y; “1',) Ty T g X A Jordan Motor Car. January last year made a new hlxh Kayser Jullus (4)... record in point of earn: but this Keith-Albee-O pf (1) was eclipsed by last mon figures. Kelly-Spring Tire, .. gs last month amounted to Net Kelly Spring $% of.. $132,897, wmvarm with $127,081 in Kelsey Hayes (3). January, 1929. Current assets as of January 31 stood at $4,837,461 and current labili- years of expe- rience, in wisely 224 Bucyrus Erfe (1).... 83% Bucyrusev pf (234). 9% Budd (EG) Mfg (1). 8% Budd Wheel (1)..... 11 75 Buffalo & Susq pf (4) 108 29% Bullard Co (1.60).... 32 SWAIQ‘I‘ZIEI.I.o Rntm& HENSEY Co. MORTGAGE BANKERS 727 15 STREET N.W, WASHINGTON D.C. / selecting your in= vestments in— “INVESTMENTS” First Mortgage Notes 6'2% [SHANNON: & LUCHS) 1435 K St. Nat. 2345 3 Butte Copper & Zine. 4% Butte & Superior (2) 109 Byers (A M) pt (7) 66% Calif Packing (4) 1 Callahan Zine & L. 74% Calumet & Ariz (6). 29 Calumet&Hec(ad%). 63% Canada Dry G A (8).. 187% Canadian Pae (10). Cannon Mills (2.80)., Indus Ray (b5 %: -n:) - Ingersoll Rand (4, Inspiration (4).. Interboro Rap Tran., Intercontinental Rub Interlake Iron (1)... Capital & Surplus $3,500,000.00 Deposits invited s any amount. SAME RATE OF INTEREST PAID ON LARGE AND SMALL ACCOUNTS We've Been Serving Payday Depositors —and others, well over sixty years, and now carry on our books more than 50,400 open accounts. Inter Comb Eng pf. Intl Harvester (3%). Intl Harv pf (7). Int Hydro E1LA (e3), Intl Match pf (4)... Int Nickel of Can (1) Intl Pap & P A(2.40). Int Pap & Pwr pf (7) CONSISTENT EARNINGS Tt Print IRk f (6. 10 Int Rys,Cen A DE(5). 8 o IDt BRI (6). s eaes.20) Intl Slver (18) ChiR I & Pac pf (1) 57% Childs Co (2.40) 40% City lee & ¥ (k3. 96 Clwlcnbl‘nl““) Ml A liberal yield with principal soundly secured; certain income; prompt return of funds at maturity, when desired, . . .. and never a deviation from the factors of safety that protect your investment. 36! Col Fuel & Iron (3) . 70% Col Gas & Kl (3). 24% Columb Graph (37e). u! 168% Columblan Carb (“) 32 23% Com Credit (3). 28 81% Comm Credit A (!) oo 84 {That record speaks well for the sort of protection and attention we give our customers—merits the consideration of every prospective Payday depositor. QHow may we serve you? OPEN UNTIL 5:30 P.M. FEBRUARY. 28th National Savings & Trust Co. Oldest Savings Institution in the District of Columbia Corner 15th & New York Ave, FIRST MORTGAGE NOTES 99 Com Inv Tr pf (7)... 2 27% Comm Solvents (31). 273 Kimberly-Clark(13) Kinney (G R) pt (3). Ra Kraft PhCh (1% gn-ntsmc«u e)e 11 X Sou pf (6).. 11 Furst, chairman of the board of the 45 Conde Nast Pub e8). % company, expressed satisfaction over 13% Congoléum-Nairn 18 the record earnings in January, and % said the outlook for the remainder of tm year was bfl.ht The corporation about_$25.000,000 worth of con- u-uu hand present, Mr. Furst said. Bc said -mrk on the Safe Hi bor hydro-electric development had al- dy been started. Particulars of available notes will be mailed upon request. Permit us to offer our facilities for the placing of your investment funds. H.L.Rust Company 1001 15th Street National 8100 BWPIR RN LS ROED A Congress Cgr (t6%). 4 % Conley Tinfoll sta. 1 67 Consal Cgrprpf 6%. 3 60 Conccrprp:xvlg 108 16% Consol Film (3). 16 18 Consol Film pf (: 2 96% Consol Gas N Y (4),. 250 99% Consol Gas NY pf(5) 49 Consol RR Cub p2(8 12 Container Cor A 1.3 4% Container Corp B. — 138" Ligge mummn irregular on the Bourse 5% Contl Baking B 3 36% L I;'.l - today. 'l'hmpereent nntu 87 francs 88 Contl Baking pf 39 'Belt ¢ 10 centimes; fivé per cent loan, 101 §0 Comti Can (14) uu e m.uuurml-«) 4 25 times. dom 134 team . 3 muhnn % Losw’s, Ine (3)...... 68 (Continued on Page 13) PARIS BOURSE PRICES. PARIS, Februs 21 —Prlee ehlnau were cgul g