Evening Star Newspaper, March 10, 1931, Page 15

UTILITIES STRONG || NEW YORK CURB MARKE - IN CURB TRADING "Prices Advance in Active B 13 Market—0il Stocks Are Weak. BY JOHN A CRONI Speclal Dispatch to The 8t NEW YORK, Ma 10.—Public util- ties, as a result of prospective mergers, , overshadowed all other groups in to- day's active and firm Curb Exchangg session. The leading management company, Electric Bond & Share,- moved frac- tionally higher, as did its principal subsidiary, American & Foreign Power. Cities Service moved more in sympathy with the oils, which were heavy, than with the utilities, though it is inter- ested in both industries. New York State utilities were the out- standing movers in today's utility mar- ket. Niagara Hudson Power was whirled to a new 1931 high as a result of the announcement that it would be linked iwlf.l'n b}:’e: Ya}k Edi- thereby bringing about a close re- hunnah!;boyf the world’s biggest hydro- electric system with the premier gas and electric system. Niagara Shares Corfloration, second largest shareholder in Niagara Hudson Power Corporation, went to a record high price. Eastern States Power B and St. Regis Paper, also closely re- lated to Niagara Hudson Power, turned strong and active. Associated Gas & Electric and the A shares, however, eased despite a cer- tain relationship they will have in the new power system now being tied to- gether. Hydro-Electric securities slip- ped because of the reduction of its divi- dend Monday. A further cut in North Texas crude oll prices caused heaviness in Humble Oil. International Petroleum, which, like Humble, is closely connected with Oh of New Jersey, also re- high son was subjected to profit-taking dur- oon. the forenoon. nited States Tin Foil, one of the dower-priced industrials, developed a burst of that put it to a new maximum level for the year. ADVANCE FeamRea IN UTILITIES GIVES RISE TO RUMORS @pecial Dispateh to The Star. > NEW YORK, March 10.—Tke trading Point in the public utilities is that this group is being advanced in order to fa- cllitate several important pieces of financing by power and light com- ‘The argument seems somewhat illogi- ‘Those companies that edéx)!elct to oy HASE: Low, bt 1 e 003 1t 883333883 RS 23a8888aE! 2 s & 222283283233 B3s8Ess: & VESRRFRRATE SIS PESSEEE gESeSeeay g EiLY S, SEESERRE N#WS’?‘ R i 55 = >ounEs 2 s ;g:gs S "§§;=a 2a82nse 5 8 25 88848 W EEE S2838% ;2 £f H i Ta g2 §§§§= ] N gERCY o e o 3 pE RECR Oikr.i: oy S ek &b i | e ;6685 §Ee¥Ee =S 0 Eavgod i‘t 33 ol -t e FFEEIT FEonNEaT 25, 53, o, 3 Zam, 30 { 2 ol 0ORZAZZZ: 298 % 238 o, oy % R EO ti 9580<% oo 00 8!?5? 114 Il% i} 551 oR B TS HH SeaE3e8255 08 R0 st m;.! e ==g!l .. Fel=lel L 23 g2 8”174 100% 75 96% s : 9 peter Al $14n 33 8% ¥ Tex UL 55 A ‘37 90 SRR TR > o L) 1;«<c-::d5 T T T I T . Y TR NN TR 8t 46 L 'A“u Wi ts. 'lv'—'l'&l.'.‘gmmu‘ 7 61 106'% 104 8% 5% 30 2814 89 1 4% 4 58% 14 % 2% 16 25% 41 256% 221 2% 4% ks NEW YORK, March 10 (#)—Call Dividend Rate. Aero Underwriter Affiliated Prod 1.60.. 27 Ainsworth Mfg (1).. 1 Air Investorscvpf,. 6 Ala Great Sou (17)..100s Alleg Ga: 5 R Allied Mills (60c). 4 Aluminum Co of Am. Tbs Aluminum Co Ltd.... - Am Capital B. Am Capital pf (3). Am Capital prof 5% Am CigarCo........ Am Cit P&L (A) (a3) AnfCit PRL B b10%. Am Com P A (b10%) Am Cyanamid B. Am Dept Store! Am Equitie Am For Pow Am Founders. Am Gas & Elec Am Invest. Inc (B) Am Invest war. . Am Laundry Ma Am Lt & Trac (2% Am Maracaibo. Am Natural Ga: AmStPSA (1 Am Superpow (40c 5 Am Util&Gen (B)V! Am Ut&Gen cupf 3., Anchor PF (b10%). Apex Elec Mfg. . Appalachian Gi Arkansas Nat Gat Arkans Nat Ga. % Ark N G cu pf (60c). Ark P& L pf (1).. Art Metal Wks (60c) Assoc El In Lta 30c. Asso Gas & Electric. Asso Gas&El A (a2). Assoc G & E pf (5).. % Assoc G & El war. 1% Assoc G & E pur rts % Assoc Rayon... . 34 Assoc Rayon pf (6). 8% Atlas Plywood (2)..: 3% Atlas Util Corp...... 1% Atlas Utilities war.. 81 Auto Vot M ev pf bt.. 17% Aviation Cpof Am..- 36% Axton Fish To A 3.20 3% 2 » o _a 2 3 s <} ST UL T DTN PO IEH - FAPRSTRTT - S = 4% 4% 16 1% 85 @ Se MmN MR ANHNEAR SR w0 Bellanca Aircraft. Benson & Hedge! Bickford's Inc (1.20) Bigelow-! Brwd - -1 Brit Colum Pwr (B). Buff N&EP pf (1.60) Bunk Hill & Sul (3). 100 Burma rets 127 3-5¢.. Butler Bros. Cable & Wire A ret: 1 Celanese 1st pf (7).. 50s Cent&Swn Ut (b7%) 2 Cent Hud G&E (80¢c). Cent Stat El (b10%). Centrifug Pipe (60¢) Chain Store 4 Cities Serv pf (6). Claude Neon Lts, Inc 48 Clev El Illum (1.60).. 7% Clev Tractor (80c)..: # Colombia Syndicats 1% Colon Ofl 5 ColOll& 174 Col Plct vte (1% Cmwith Edison (8) 1% Cmwith & Sou war. 8 Com Wat Sv (b6%).. 4% Comstock Tunnel. .. 1 Consol Auto Merch. . 1 Consol Auto M cu pf. 2% Consol Copper. 82 Consol Gas Balt . 14% Consol Gas Ut A 2.20 10 Consol Laund (1).... 40 Cont Shares conv pf.125s 5% Cord COorp.......... 46 14% Corp Sec Ch (b6%).. 2% Cosden Ol. .. % Curtiss Wright war., 1 % Cusi Mex Mining. ... 116 1% Dayton Alr & Eng. 33% Deere & Co (1.20) 1% De Forest Radio. Derby Oll Refinin, Detroit Alreraft Cp. Douglas Afr (11%) Dresser M{g B (2) Duke Pow (5)....... 258 Duquesne Gas Cp wi Durant Motors. . East G & F Assoc. Eisler Electrio i Elec Bond & Sh (b6), 952 ElecB & Shpf (6 2 9% Elec B & Sh cu pf Elec Pow Assoc (1).. 2 Elec Pow Asso A (1) & ElecP&Ltopwar.. 26 El Sharehold (b6% § Emp Corporation 1 Empire Pub Sve 2 1 Cor 1 22 1 Fairchild Aviation. . Falcon Lead. ... 3 4 1 1 7 Ford Mo of Fr(p2sc) . Ford M Ltd (p37%).. 113 Foremost Dairy Pr 10 Fox Theater Cl A, Gen Alloys (80¢) Gen Aviation. Gen Baking pf (3).«¢ Gen Baking N Y wi.. Gen Baking c.od..... Gen Bak pf c.o.d. (3). Gen Elec Ltd (p70c Gen G&E cv pf B (6) 850 Gen Thea Ep cv pf 3) Georgia Pow pf ( Glen Alden Coal ( » - = Snomn Ban Sonares Goldfield Consol. .., Goldman Sach T C. .» Gramophone rets(pl) Gt At&Pac Teanv(6) Grief & Brother..... e S Guif Ofl of Pa (1%). Haverhill Elec v.t.c..s Heyden Chem (1). Humble Of1 (12%). o Hydro Elec Sec 1.40.. Hygrade Food Prod. 11l Pow & Lt pf (6) Lmp Ofl of Can (50c). Imp Tob Gt Br t8%¢c.. Ind Ter Nliu Ol A..u Ind Ter Mlu Ol B. ... 5% .Industrial Finan ctfa Insull Inv (b6%).... Ins Co ofNo Am 123, Insurance Sec (70c) .. Intercoast Trade (1) Intercontinent Petn, Int Petroleum (1), Int Superp (11.10). A Int Utilities B.. . Interstate Equities. ; Inter Equ conv pf(3) Italian Superpow A.. Italign Superp war.. Jonas & Naumburg. 3 Kleln (H) pt pt. % Kolster-Br (Am 2% Lakey Foundry. 10 Lefcourt Realty 1. 28% Leh Coal & Nav 1. MONEY MARKET. » S Rumad - PRURUTASUNFIRVITTITITIRE - - TR WV .t THE EVENING ‘STAR, WASHINGTON, D. C., TUESDAY, MARCH 10; 1931 ~Prev. 1931~ High, Low. 1 36% 30% 30% % % 22% 30 100% 106% 8% k3 18% 6% 6% % % 19% 4 2% B3% 3% 20 3% 135 16% [3 1% 19% 25% e 5% 1% 3% % % 31% 20% 33% 49% 32% 31% 9 20 85% 4% 1% Bales— Add 00. Open. High. Lone Star Gas n (88¢c Long Island Lt (60c) Long Iscu pf B (6).. Long Isld Lt pf (7). Louisiana Lan & Ex. MacMarr Stores (1). Magdalena Synd. ... Mapes Consol (13%) Marcont IntM(p3sc). % M . . M lead Johnson(13%) Memph N G Co (60¢c) Mercantile Strs (1) Mesta Machine (2).. Met & Min Inc (1.20) Mid St Prod n (2). Mo Kan P L (b10% Mo Kan P L vte. Miss Riv Fuel bd rts, Mont Lt H& T (1%) Moody's I8 pt pt (3) Mountain Prod (1)..} Nat American Co. Nat Aviation. Nat Food Prod Nat Fuel Gas (1 Nat Investors. Nat S T Sec A Nat St Corp war Nat Sugar N J ( Nat Transit (1). Nat Unton Radio Neisner Bros pf (7 New Eng Pow pf (6) 100; New Jers Zine (13).. Newmont Min (4)... N Y Transit (1)..... Niag-Hud Pow (40¢) Niag-Hud Pow A w.. Niag-Hud Pow B w. Niag Sh Md (40¢)... Niles-Bem-Pond (2).. Noma EI Corp (80¢). Noranda Mines. Nordon Crp Ltd. Nor Am Utll Sec. . Nor Europ Oil Corp. . Nor Ind Pub 8§ pt () Nor St Pow A (8)... Nor St Pow pt (6) Novadel Agene t1% Outboard Motor' PacG&E1stpf1%. Pender DGrA (3%). Pennroad Corp (20c) 5 23 0 & ) » T e = = R e T L L s 1 50s 32 # 4 40 1% 36% 25 18% 1% 24 35% 106 112% 1% 94 L3 40 9% A% 35 M 101% 139% 981, 50% ¥ 5 5% 5% 3 3 e Penn Pw & Lt pt (7). B0s 111 Penn Wat & Pow (3) Peop L& P A (2.40) Phil Co new (11.15) Philip Morris Inc. Phoenix Secur Corp. . Phoenix Secur pf (3) Ple Bak of Am A (2). Pledmont Hyd Elnw Pub Util Hold war. Pub Ut Hold cu pf(3) Q RS-De Vry . Quebec Power (234) . Radlo Products. Raliroad Sh (50¢)... Rainbow Lum Pr B.. St Regis Paper (1) .ui Salt Creek Prod (2).. SaxetCo..oveere.cnt Schulte Un 5c-31 §t.. Seaboard Util (50¢).. Secu Corp Gen (40c). Seg Lock & H (50¢).; Selected Industries. . Sel Ind (full p stpd). ‘Shenandoah Corp. ShenCorp pf (a3)... Sing Man Ltd (p23c). Smith (A 0) (2).. Smith-Corona vte. 8élar Refining S0 Am Air Lines 1st. South Penn Ol (1).s SouthCEApfB1%. SouthernNat Gas. ... Southld Royalty 60c. SW Dairy Products.. 8 W Gas Utilities. ... Spanish & Gen rcts. . Stand Motors....... Stand Oil of Ind (2).. Stand Ol Ky (1%). .« Stand Ofl Nebr (2). . - - - a2 - NN AN AN H WRRR - ANO R B A N 1% Sentry Safety Cont.. 263 17 2 16 1 Stand O1l, Ohio (2%) 2008 Stand Pwr & Lt (2).. Stand P&L (B) (2) . Starrett COrp....... Starrett Corp pf (3).. Stein (A)&Co pf 6% Strauss (Nathan)... Strauss Roth......a Stutz Motor (new).s Sunray Ol (b§%) ..« Swift&Co (2)....00 Bwift Internat (3)..+ Syracuse W Mach B. Tac Pal Bridge A(3). Technicolor, Ine. ...: ‘Tob Prod Exp (10c).. Tran Con Alr Tran. Trans Lux DL P Tri-Cont Corp war. .. Tri Utilities ($1.20)., Tubize Cantillon (B) Ungerieider Fin Cp.. Un NatGas,Can t1.45; Union Ol Assoc (2). Unit Chem pt pf (3) o Unit Lt& Pwr pf (6). Unit Shoe Mach (2% USDalry (B)....... U 8 Elec Power ww.. 4 4 ). . 2 U 8 Radio & Televisn Unit StOTes. .vveyon Unit Verde Ext (2).. Utl]l P&Lt(at1.02%). Util & Ind. - Utllity Equities. Vacuum (4). Van Camp Pke. Van Camp Pkg pf... Venezuela Petrolm. ., Vie Finan Corp(40e): Walgreen Co war. Walker (H) (1). Watson (J W) Co. Wayne Pump. % Wenden Copper. Williams R C (1.40) ., Wil-Low Cataterias., ‘Wil-Low Cafeter pf.. “Y" Ofl & Ga: Zonite Products (1. Received by Private Wire Direct to The Star Office . Low. Close. L 40 9% 4% 3414 L 1 v 1% 1% 36% 25 17% 1 24 9% A% 35 % 11% 11 84% 4TH,) 63% 10% 15% 3% 8 10% 204 6% 1% % 4% 1% 101% 101% 139% 139% 98% 49% (] 4% 93 32% 108% 1 SILVER QUOTATIONS. NEW YORK, March 10 (#)—Bar silver, 20%. 98 49% % 5 5% < 27% o2 1% 93 % | Orleans in this % | stocks on corn totaled 30, 3% 324 03% UTLOOK FOR CORN PRICES IS HIGHER Small Supply and Li§ht 0of- ferings Result in Re- cent Advances. By the Assoclated Press. BY FRANK 1. WELLER, Corn looks better than wheat for the moment, although it continues to be in- fluenced by bread grain values. Prices strengthened under lighter offerings a the last marketing period while wheat remained weak in the face of sharp competition among exporting countries. This is the time of year when_corn receipts, as a rule, start"to decreasé and it will be easier than wheat to bull. Traders are paying some attention to the relatively small visible supply of cash corn which is around 19,000,000 bushels or nearly 16,000,000 bushels under the five-year average. Supply Below Normal. ‘The supply of corn in all positions is enough belgw normal requirements to make a strong position if developments from now on are favorable. Very small country offerings and light consign- ment advices are further factors sug- gesting that corn may be good property at this time. Although Chicago professionals in corn are very bearish, interest in the cereal is growing and some commission houses which continue to absorb corn predict it will go considerably higher. Bhippers, industries and feeders ar® taking current offerings, The week may not have been a fair test for corn since rain and snow left farm-to-market roads in bad condition and may have curtailed the intended flow. Trade estimates place farm stocks around 250,000,000 bushels below those of a year ago. They indicate, however, that more than half the short- age in the crop already has been made up_by reduced consumption. One fly in the ointment is the fact that market stocks of corn are only about 5,000,000 bushels less than a year ago. Another is that'farm stocks of oats, which can be fed more heavily if corn gets too high, are ground 100,000, 000 bushels larger than a year ago. ‘Wheat Rallies Anticipated. Occasional rallies in wheat are antic- ipated, but if the general run of news continues to be bearish and devoid of new developments, advances may be only temporary. = Improved moisture conditions make it appear there have not been many years when the crop outlook was as favorable as it is at the present time. However, there is some feeling that a majority of the traders have been too bearish and sentiment in grain is said to be leaning toward the buying side, especially on breaks. Unless the Farm Board allows cash wheat to decline new crop futures likely will remain very re- sponsive to any bullish items that ap- pear. Purchases by marketing agen- cles kept domestic cash prices fairly steady during ‘the week while cash prices declined in foreign markets. Mills are fairly active buyers and elevators are taking fair amounts. Marketing continues heavy, reflecting the relatively large stocks remaining on farms. Trade estimates place the amount close to 30,000,000 bushels more than a year ago. Receipts at the prin- cipal hard Winter wheat markets for the week totaled 3,576 cars, the largest week’s shipment since September. ‘While storage congestion prob- lem seems to be comewhat relieved right. now, space at terminal markets is a scarce commodity. Duluth reports room left for only about 3,000,000 bushels and Chicago and Kansas City are crowded. March deliveries intensify the situation. Storage Plans. The Grain Stabilization Corporation has announced it will move 500,000 bushels of wheat from Chicago for s e at points unnamed. It is mak- ing daily sales to continental l\mmn buyers, exnecuu thus to move 35,000,~ 000 bushels, for which George Milner, general manager, says the corporation tting cash. Storage stocks already are beginning to manner, Milner says. Such wheat héld at Pacific Coast points 1s expected to be sold largely in Orlental markets. The action is expected to pro- vide additional storage for the new 1931 crop. Farm Board officials say that shorts and hedgers can get all the March ‘wheat they want in the pit at around 79 rice. There is no rge and the European trade ap- pears unwilling to buy much beyond current requirements. However, re- laxation of milling restrictions in Ger- many indicate that stocks of native grains may be declining in Europe and that the next few months may see active buying. The _calculated surplus for export from the United States, Canada, Australia and Argentina is placed at 69,000,000 bushels more than a year ago. Stocks on ocean passage have been brought to a total of 57,800,000 bushels. By the Assoclated Press. ° CHICAGO, March 10.—Influenced by Bullish aspects of Government figures on farm reserve supplies, grains aver- aged higher early today, especially corn. Unexpected firmness of Liverpool wheat quotations and smallness of receipts at European continental centers were an additional strengthening factor. Opening unchanged to % cent up, corn afterward rose all around. Wheat started at ¥, decline to % advance and subsequently hardened. Traders focused attention largely on official esfimates showing that farm ,000,000 bush- els less than had been looked for. Little notice was taken of the fact that the of- ficial estimate for farm supplies of wheat ‘was 21,000,000 larger than ex- pected. Some auf ities said the rea- son wheat failed to respond 4o the offi- cial figures on farm stocks was that wheat prices were already so depressed that hardly anything could have a further bearish effect. An advance in Argentine exchange rates, making wheat prices there appear higher, was a han- dicap to bears. Scarcity of future delivery offerings was a feature of the corn market, and prices soon scored more than & full cent advance. Corn primary receipts amount- ed to only 526,000 bushels, cumo%nd with 892,000 a<week ago and 937, at R iengo had bt 97 against 178 cago cars, 2 week back and 142 on the - ing day of 1930, Oats sympat with upturns of corn and wheat. COAL PRODUCTION DROPS. By the Associated Press. _Total production of bituminous coal decreased 5.9 per cent during the week ended February 28 as compared with the previous week. Obsery: ofa on Washington’s birthe wI'A” n‘ucwr in '.h%‘:howiuw. ‘The out- put, for comparable periods, as an- nounced by the United States Bureau of Mines, follows: Jewel Tea Co. Tea Go. reported. day, thek Its salos Tor the four weeks 321 were $1,107,352.53 as compared with $1,206,~ 490,16 for the same weeks in 1930, or & decrease of 8.22 per cent. The average number of sales routes was 1,286 for 4851 and 1,221 for 1850, STOCK AND BON By the Associated Press. High, 1929. Low, 1929, (Copyright, 1931, Standard Statistics Co.) CRUDE OIL OUTPUT M’KELVIE SEES GAIN IN COMMODITY PRICES| Farm Board Member Believes .Val-| ues Have Now Reached Bottom Levels. PHILADELPHIA, March 10.—The belief that farm commodity prices have reached bottom and a somewhat higher level will prevail was expressed last night by Samuel R. McKelvie, grain member of the Farm Board. Speaking before the Traffic Club, Mc- Kelvie said this would be brought about by more efficient and economical prod- uction and lower distribution costs, which he expected would, give the farm- ers a greater return. ‘The latter phase, he said, embraces a more important place in marketing for the farmer, el ting waste and un- necessary cost, and exercising a greater control over wages or income of those handling farm products. “This means, of course, , “that some of the thousands now en- gaged in distributing farm commodities must charge less for their services or get in some other line of business. It is unthinkable that tke farmer should be called upon to adjust himself to a Jower level of prices without others doing the same.” * FEBRUARY DIVIDEND CHANGES REVIEWED Payments Passed by 92 Concerns and Resumed by Six—Forty- Four ‘Extras. e reary and. Tesumed. by. 6 tions 1 ruary an A lccorflnn(.lto the gnnd-rd %ug;ug . Initis ents were made e pddp‘ymby 44. Detailed covering changes in February during the past three years follow: February 1929, 1930. 1931, 38 31 trs may | It New York Cotton Speclal Dispatéh to The Star. = NEW YORK, March 10—With & lower range than was expected in Liver- 1 and a number of bearish reports om continental sources, cotton prices today were 2 to 4 points lower at the start. On the other hand, acreage and weather reports-in the United States were considered favorable and there mmm on the scale down in all Opening prices were: March, 10.81, oft 2; May, 11.03, off 2; July, 11.25, off 4 5 11.55, off 3; December, 11.77, off 3, and January, 11.86, off 3. Large Baltimore Wheat Cargo. BALTIMORE, March 10 () —Loaded with 325,000 bushels of No. 1 Northern Manitoba wheat, the steamer Frana- goula B. Goulandris today was being made ready to sail Wednesday for Pir- aeus, Greece. ‘The boat will carry_the largest cargo of grain shipped from Bal- timore in 16 months. November 29, 1929, Italian freighter Emmanuel Accame left with 448,000 bushels of bonded wheat. Auto Freight Service Planned. BALTIMORE, March 10 (Special) — The Baltimore Transfer Co. yesterday applied to the Public Service Commis- t&n for n to operate an auto freight service between Baltimore and Annapolis, The permit was asked, it was sald, on the assumption that the Washington, Baltimore & Annapolis Electric Railway will suspend its pres- ent service, STATEMENT OF THE CONDITION American Union Insurance Company of New York ffiges: Hartford, Conn.) f December, 1930, required under Section 647 of'the Code of Law for the District of Columbia. o $309,778.00 17,450.00 ,924.31 194,543.47 20,004.93 292261 A ITIYT) ,620. Deduct wavets ot admlit 8608 ™ Total admitted assets..32,308,708.40 LIABILITIES, Net unpaid clalins Lo osi $48,997.00 Total unearned p 12,297 4 Other Labilities 36.507.00 $500,000.00 1,213,966.94 Capital paid u Sifpiis Sver all ira 32,308,708.40 t District of ...u?-fl*fi:c‘.u n‘.'fia.'si PP | AVERAGES 5:30 Edition. | N INCREASES IN WEEK | Daily Average Production Reveals| 52,519-Barrel Jump—Okla- homa Leads. By the Associated Press. TULSA, Okla., March 10.—Oklahoma was the dominant factor in an increase | | Al of 52,519 barrels in the country's daily average production of crude oil last week, which totaled 2,155,630 barrels, says the Oil and Gas Journal. Oklahoma production jumped 55,960 barrels to 500,910 barrels. Outside of | On the 31st da; Teanired under Net | Total interest Other income AiGther disburséients crued ... | A1l other” asset G | Deduct assets not | Net Total e Other liabilities "+ | capital deposit Saroial SRt viabiiiciss NET PREMIUMS THE ansportation Tornado. windstorm INVES' Listed ENT SECURITIES Scottish Union &' Insurance Company of Edinburgh, Scotland, of December, 1 e el TS — u.xam,u d res 4] .. ‘Total I»com} $4.662,245.79 DIABU . g e R 0 Total disbursements ...$4,880,717.71 R 6,834, X 028 remfum ross assets Total admitted assets. .$9,460,205.54 LIABILITIES, unpatd claims . 1 unearned prem ITTEN DURING 4 trict of Mt and tr 1 commo- explosion 1L other .. . McCORMICK, Secretary. cribed and sworn %bflon me this Beal} °f TWALIERF = East Central Texas, which had a gain of 13,377 barrels with an output of 89,~ 343 barrels, other midcontinent areas showed only small shifts. The total for the area was 1,171,534 barrels, an increase of 62,233 barrels. Included in the midcontinent were a decrease of 2,972 barrels in West Texas at 242,381 barrels, a decrease of 2,120 barrels in Arkansas at 47,935 bar- rels, and a decrease of 605 barrels in | || r Kansas, at 112,115 barrels. | Eastern production was 111,500 bar- rels, an increase ‘of 2,250 barrels. The Rocky Mountain area was down 7,267 barrels at 91,346 barrels. California registered an increase of 1,500 barrels with an output of 526,- 000 barrels, PROFIT-SHARING PLAN SUDDENLY WITHDRAWN Special Dispatch to The Star. NEW YORK, March 10.—The plan to distribute to officials and executives active in its management 10 per cent of the net earnings of North American Aviation, Inc., and which was to be sub- mitted to stockholders at the annual meeting March 11, has been withdrawn. This action was taken when a number of stockholders pointed out to C. M. Keys, chairman of the board, that suffi- cient notice had not been given to per- m;:"tmrmuh consideration of the pro- pospl. | STONE & WEBSTER. NEW YORK, March 10.—Consolidated gross earnings of $52,509,294 are re- ported for 12 months endin subsi stockholders today. No comparison with previous years is possible as the present been in existenc corporation has e only since July, 1929, although the impor- tant activities of the corporation are of long standing as the had its inception in 1889.' Consolidated to- tal net earnings and profits of $7,211,- 159 are reported, equaling $3.82 per share on the average of 1,888,694 shares outstanding duflng that period. Of these earnings, $780,836, equivalent to 41 cents per share, was t carried direct to surplus on securities a on organization from the predecessor company and sold within the period. | Sl B e S 2 of Law for the District of | | Net pre: | Tot Other ‘ P3ata peticy Hold, | Net amount pa = G assets........ Deduct assets ot adsil Net unpaid cidi Total unnmd-p Other liabilit Capital paid Swg B e STATEMENT OF THE CONDITION The Girard Fire and Marine of Philadelphia, Pa. INCOME. miums ... 33, 2 interest and rents. X income . . .s 1 3 ++$2,995,122.19 73, for losses other disbursements. ‘Tétal disbursements p k01 ] .988,276.25 ‘Total admitted assts...$5,987,003.73 its over alf 1ta tor vehicles irthquake ch‘(ubin, Goodrich & Co. Established 1899 BANKERS 3\ . Members New York and Baltimore Stock Exchanges Associate Mermber New York Curb Exchange 1508 H STREET . WASHINGTOR, D. €. REDWOOD & SOUTH STS. BALTIMORE, MD, 69 NOTES Secured by First Mortgages Safe—Conservative Make your savings and surplus funds work for you at the high- est interest rate consistent with absolute safety. 43 Years’ Experience in financing homes and in the sale of these securities. Wm. H. Saunders Co., Inc. Dist. 1016 REALTORS 1519 K St. First Mortgage Loans On Improved Real Estate in the District of Columbia and Nearby Maryland and Virginia for 3, 5 or 10 year terms on your | = 51500