Evening Star Newspaper, March 13, 1931, Page 13

A.&P.REPORTS GAIN IN TONNAGE SALES Individual Shles Decrease in-Net Income Laid | aign ton: -A by (:ompany to Cheaper Prices. BY EDWARD C. STONE. February sales of the Great Atlantic & Pacific Tea Co. declined 4.3 per cent to $82,384,806 from $86,121,818 in the corresponding month in 1930. ‘Tonnage sales, however, were rewrhdl today as having increased during the month 42 tons, making p total of 443,516 for the month in comparison with 400586 in February, 1930, ‘The difference in net income, the offi- chll state, is due to the lower prices for fo0ds 'which have prevailed since the latter part of last year. Situation on Mend. Approach to 4,000,000-share_days on '.hc New York Stock Exchange and symptoms of a bull market may be at- trlb\luu largely to professional attempt to lure back the public rather than as reflection of any definite or sustained recovery in business and industry, says Trust Companies magaziné. Despite a greater degree of stability in prices, in- creased activity in steel and motor pro- duction, there are, still sufficiently un- encouraging factors which render pre- ture the confident statement that “we have turned the corner.’ As distinguished from discriminating investing, which at this time makes for the laying of foundations to large for- tunes, there is no warrant for specula- tive enmu:llsm because of persistent unemploymept, lack of response in commgdlty rices, car loadings, bank clearings, consumer demand, the low level of foreign trade and other indices. These should serve as cautionary signals against false stock market starts as wit- nessed in the earlier months last year. Nevertheless, the magazine adds, there is evidence of improved business morale and reason for growing confi- dence that the low level of depression hn been reached, and that slowly, but , the general situation is on the men Sound discretion justifies b.nk- g an N s i sorcuitire ing_from Ing su; 8] g-h 3 !' p‘:otl[l of incipient convalesence. Pennsy’s Dividend Record. Cash dividends paid by the Pennsyl- vania Railroad amo um to neujly :1 ,000,~ 000,000, according to res just com- piled for 1930. Including ‘the dividend just pajd on February 28, 1931, out of IOM earnings, stockholders have Te- ceived a total of $995,084,433 since 1856. With the distribution of the May, 1031, dividend, the total payments to stockholders wi flloflpulhhthe llion-dollar mark, company offici Last year $52,030,987 was plld in divi- dends to shareholders, representing an 8 per cent return on e‘lmulucof the outstanding stock. largest annual dividend payment in the railroad’s history. The preceding year, with dividend payments aggrega $46,835,065, also established & recol to that tite. Pennsylvania shareholders have re- céived a return upon their investment every vesr since the rallroad was incor- porated, in 1846, an unbroken dividend Tecord of 84 years. Building Association Election. The officers and directors of m American Bullding Association, ganized in 1874, have jssued I.n'":l- tions to an inspection of their hand- nmo nev office building at 300 Penn- evenue southeast, on March m l am. to § p.m, and Trading was quiet on the Washing- ton Stock mlfl:‘ . m:én following yesterday's extra lively sess! cmmwmm 55 cams out at 813 on & 81, ooo turnover, md ‘Washington , registered a day's 20 Twelve shares of Capital Traction stock sold ex-dividend at 35%;. ‘rhe final ulu were three 10-share rred, all at 983, 'hlh H’ t00 soon for any action to be taken, yet it is expected that the new $6,500,000 issue of Ington & Suburban Co.'s 5% per cent bonds will be listed on the exchange. It is sssumed by members of the exchange that any bond issue with such close local affiliations will be listed here. Traction Dividend Declared. Directors of the Capital Traction Co., at & meeting yesterday, declared the| quarterly dividend of $1 per| share on the outstanding stock. ‘The directors of the United States Savings Bank have just declared their regular quarterly dividend of 7% per cent, payable March 31 to stockholders of record March 20. Emerson Bromo Beltzer, Inc., listed on the Wash! Exc! has declared the regular quarterly vidends of 50 cents each on the class A and class B common stocks and 50 cents on thn urnd stock, all pavable April 1 ©of record March 14. ‘The Maryland Casualty Co. has de- clared the regular quarterly dividend of 564 cents, payable March 31 to stock of record March 12. ‘Western Union Telzfnph has de- | clared regular quarterly dividend of $2 i ‘Mfl‘lblA 15 to stock of | Better Bond Market Noted. Current changes in industrial activity | and trade volume are still indecisive as to Spring business prospects. This yur'l early Easter and accumulated | replacement demand have stimulated textfles, clothing, shoes and similar con- sumer lines, though February retail results were somewhat disdppointing. and the automobile sales outlook is still uncertain, says the Business Week in its report covering the week ending March 14. Bonus payments and other early March financial transactions have in- creased money turnover, steel produc- tion continues its glow seasonal rise in contrast to last ynr and Spring commercial loan expansion has begun. ‘The index, up slightly to 79 per cent of normal for the week ended Mnrch A is still st about the average level of the past two months and compares with 7.4 In the preceding week and 94.4 per cent in the same week last year. The first year-to-year upturn in resi- dential building since its loal dnellm began in 1928, some ment in emplo em a fla commodity year, l mur md cts are the main straws oldomu c cheer, et FRRSNE 74 EARNINGS REPORTED. NEW YORK, March 13 (#).—Nelsner Bros,, chain store operators, reported for 1930 net pnfll nl mt.m, equal to 86 cents & share o) s .tmm, dr The Cuba Co. and subsidiary and af- ended mmrnmlmmmm mi MMM“JM 7,173 : 10,763 T ey reported & of $17,691,870, tfi‘.uuu for 1039, 10% i) 581 138 42% 107 4% 11% 4% 110 1% 324 56% 45 16% 111% 28% 4“2% 1% L] 3 30 3% 1% 9% 16% 51% 1 84% he common stock, | 384 418 o ehare, In | 4% 81% Crown C&P pf (2.70) 63 106 5% 2% 5% 4% FINANCIAL. NEW YORK STOCK EXCHANGE Adlml Millis (2). Adv Rumley (new. Ahumada Lead. - A JOPRE- TP » 2 Alaska Juneau (40c) Albany Wrap Paper. o -1 ph: Amerada Corp (3) Am Bank Note (13). Am Brown Bov Elee. Am Br B Ept (7). Am Chain (3), Am Chicle (13). Am Comel Aleohol Am Buropean Secur. zsuAm & For Power. ... 3T 67% Am & For Pow 2d pf. 7 Am Hawailan 88 10% Am Hide & Leath vf 47% Am Home Pr (4.20).. 28% Am lce (3).. . Am International Am Locomotive (2). Am Mch & Fdy 1.40.. Am Mach & Mlull . Am Metal Co. Am Na' Gaspf ()., Am Pow & Lt (21).. Am Pow & Lt pf (8). AmP& L pf A st (5) AmP&Ltpf A (4).. Am Rad & St 8an (1) Am Roliing Mills. A Safety Razor (5) Am Ship & Com. - 12! Am Shipbuilding (l) l!ol Am Sm & Ref (4)... Am Sm & Ref of (7). Am Snuff (13%) Am Snuff of (6). Am Solv & Chem 374 514 ? 136% 41 3). 27% Am Steel Fdy pf (')- lfl- 112% Am Stores (12%) 4T% Am Bumatra T A 9% Am Tel & Cable ll).. 608 20 Am Tel & Tel (9).... 30 194% Am Tobacco (16) 6 119 Am Tobacco B (18).. 14 120% Am Type dekll). 2 97 Am Zine & Lead pf Anaconda Cop (2% w Armour of I11 Armour of Ill p! Asso 011 (2). 81 -Atl Gulf & West Ind. 18 Atlantic Refining (1) 20% Baldwin Loco (1%). 17 1 Baldwin Loco pf (1), uo 1 68% Balto &-Ohio (7). ... 724 Balto & Ohlo pf (4).. l 108 Banc& Aroos of 17). 10 Barnet Leather pf...2 Barnsdall (A) (1)... Bayuk Cigard®).... 108 Bayuk Cig 1st pf (1) 10s Beatrice Cream (4).. 6 Beech-Nut Pkg (3) .. ‘: Bulova Wateh (1%)\ Burroughs A M t1%. Bush Term deb (7)..140s Bush T Bldg pf (7).. ln- Bu!urlek o Can Pacific (2 h) Cannon Mills (1. Case (J I) Caterpillar T Celotex Co pf. Century Rib Mills. ., Cent R Mills pf (7).. 10- Cer de Pas Cop (2).. Checker Cab M1g.... Ches & Ohlo (2%)... Chesapeake Corp (3) - EX-T ChiMiIStP&PPL.. Chi & Northwest (4) Chi Pneu Tool. . 23% Chi Pneu Tool pf.... 47% Chbi R 1 & Pacifie (5). 94 ChiRI&Pacpt (7). aoBeeen -1 LT ) 3 7% City los & ¥ pt (l%) IWI 2% City 8tos 142% Cocoa-Cola 1'1\6) 9 Collins & Alkma 9% Colonial Beacon. ..., 21% Colo Fuel & Iron (1) B6% Colo & Sou 2d pf (4). 108 33% ColGas& El «2).... b2 7% Col Graphoph 350 8% Columbian Carb (16) 18' Comel Credit ¢2).... 34 Comel Credit A (3).. Comm Inv Trust (2). Comel I T ev pf (el 15% Comm Solvents (1).. 8 Cmwith & Sou um. 91% Cmwith & S 82 Conde N 6% Congoleum. 54 Consol Cig pr nl lu u- 9% Consolidated Film. 3 16% Consol Film pf )., T 824 Consol Gas N ¥ ('l). 171 ) 8 16 25 n 2 34% Consol RR C pt (6 % Consol Textile 5 Container Corp (A).. 2 Container B.... 17% Conti Baking A 2% Contl Baki 67% Contl Baking pf 47 Contl Can (#%). . 10% Contl Dia Fibre (1. 41 Contl Insur (3.40) PR N P P :1 cu-- l 31 CrCork & Seal 2.40. ., 4 Crown Zellerback 56 Crucible Steel I:) s L= RO 3 Sugar % guh Cane rm <u§-3a-- Private Wire Direct to The Star Office. ~Prev, ll‘l-\ High. Low. 22 102 20% Deere & Co 80 Del Lack & WI €). ' Drlaware & Hud Devoe & Ray (1.20, Diamond Match Dlamond uu.-r; ot nfi Du P de N deb pf (§) Eastman Kodak (18) Eaton Axle (1.60)... Klec Auto Lite (8).. £leo Boat. ... . Elec Pwr & Lt (1 Blec Pow & Lt pf (8) Elec Pow & Lt pf ( ) Kleo Stor Bat (5). Endicott-John (6). . Eng Pub Sv (240)... Eng Pub 8v pf (5%). Eng PubSve pf§)... Eq Office Bldg (2%). Erie RR..... sene Erie RR 1st pf (4)... Eureka Vac Cleaner. Evans Auto Loading Exchange Buf (1%). Fairbnks Morse 1.60. Fairbanks M pf (7).. 30, Fed Mot Truck (40¢) Federal Screw Wks. . Fifth Ave Bus (“e) 100- Filene's pf (6%).... 108 Firestone T&R (1).. First Nat Strs (2%). Fisk Rubber........ Fisk Rubber 18t pf. Follansbee Bros. ... Foster Wheeler (3) Foundation Co... Fourth Mat Invest. . Fox Film A (4)....0 Frank Simon pf (7). Freeport, Tex (4)... Fuller Co 24 pt 16.77. 50s Gamewell Co (5)....2108 Gardner Motor. Gen AmInv pf (6)... Gen Am Tank Car(4) Gen Asphalt (3)..... Gen Bronse.... Gen Cable A, Gen Pub Sv bé% stk. Gen Ry Signal (). Gen Realty & Ut} Gen Refractories Gen Theater Equip. Gillette Sat Rasor. Gimbel Bros. ... Gimbel Bros pf (7).. Goodrich B F pf (T). Goodyear Tire (5)... Gotham Silk Hoslery Granby Conspl (2). Grand 8i] Strs (h1).. Grand Union . Granite City 8t (3) 26% Grant (W T) (1) Grt North pf u Grigsby Grunow. Gulf Mobile & North,. Hacken pf A (1%).. Hall (WF) Pr Co (3) Hann Dept Stores. .. Hartman Corp (B). Hayes Body..... 2% Hercules Powd (3).. Hercules Pow pf (7). Hershey Choe (5)... Houdaille Hershey. . Household Fin pf (d) Hud & Man Ry (3.50) Hudson Motor (1) . 7% Hupp Motors.... Illinots Central (1) Indian Motor Cycle. Indian Refining. Indust Rayon (4).. Inspiration Copper. . Ingersoll Rand (46). 9% Interiake Iron (60¢c)., Int Agricultural.... Int Agricul pf (7). Int Bus Mach (né % Int Carriers (26¢). Int Cement (4). Int Combustion int Harvester (3% )., Int Hydro El A (e2). Int Mateh pf (4).... Int Merc Marine (2). Int Nickel (80¢c). Int Nick Can pf (1) Int Paper & Pow A. Int Paper & Pow C. Int Salt (3).. Int Bhoe (3). Int Silver pf (7). 1 & Tel (2). Dept Strs (2)., D St pf xw (1), lfi: Eq 5 Ialand Creek pf (6. . 408 Jewel Tea (4) 3 Johns-Manville (3) Jordan Motor Car Kans City Sou (5) . Karstadt(R) (a1.03). Kayser Jullus l!h ). Kelly-Sprinj Kelvinator orD Kendal! Co pf (6) Kennecott Cop (2).. 5lnn.y (GR) pt (8) ao. Krouger & T (a 1 Kroger GrocaBak(i) Lambert Co (8)..... Les Rubber & Tire. . Leh Valley Coal. Leh Valley (2%).... Lehn & Fink (3). Lib Ow Ford Glass. . Liggett & Myer (16). Lize & Myers B (16) Lig & Myer pf (T)... Lima Locomot (m2). Liquid Carbonie (4). Loew'sIne (3) . ..... Loe Inc pf (6%). Loft Ine. Lioose-Wiies (12.10) . Lorfllard (F) Co. Loulsiana Ofl. . LouG&EA (1%) Louts & Nash (1) Ludlum Steel.. MeCrory A 12)..... Melngyre Pore M (1) McKeespt Tin P(15). McKesson & Rob (1) McKes&Rob pf(3%) MoLellan Store Mack Trucks (3) Macy & Co (nt3). . Magma Copper (%) ulnlll Bugar, < e 8 - [PRVORPRINSJTTOI - STV JOP PR IITS 3 T ST o LT 1 g 9 9T% 122 8t6ck and Bales— Dividend nu. Add 00. High. Low. Ili 187 161% 204 19% T0% 37‘/! 3 6“‘ —z=| ONLIGHT SELLING=: l u“ Withdrawal of Bids by In- STOCKSDEPRESSD vestors Causes List to Sag Further. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW 'YORK, March 13—Under & moderate volume of selling, today's stock market had a sharp reaction. The weakness was almost uniform— even the public utilities, which had stood out earlier in the week, turning downward today. For the unsettlement there was no ‘agement over . the nllrud situation, over the slow rate of improvement in steel, over 1930 earn- ings statements, which revealed the ex- tent of the depression in many lines, :‘l‘xg over action of the market Short Sellers Active. Liguidation of margin accounts was not txtelnve enough to account for the nnunn phm a part, but nhm selling lcnolmted for a good deal of the transactions. more lmpomnt cause of the weakness was withdrawal of bids by investors who thought they fi‘d obtain stocks on better terms by ting. Amon: the larger losses were in l‘utmln Kod-k Bethlehem sue|. the alwa; ic Auburn Auto, and in Blmmon & omoA Eastman Kodak sold today more than 20 under the' year's high attained less than three weeks ago. This is a high priced stock which normally move: over a wide range, but the decline ce: tainly went far to atone for any e trav ce. Under 160 Kodak ylelds ov'e‘r per cent at the present dividend raf The steel stocks were all heavy. United States Steel dipped below 143 w l nev low on this movement, while hem Steel mla off a eouplz of u beton meeting ln{ Auw wmcflm was reflecting doubt about m dlvlm action at next s | Westinghor the | 8o were spec Besides Baltimore & Ohio, raflroad stocks which sagged included St. Louis- San Franciseo at a new year's low; Atchison, which canceled a part of ménuolnnuunpwh'u dwwnlnlmbw(orhmcw- utilities whlch nve way in- cluded American V«P & Tzln- ’nph and American Water Works, t! former down over 3 points and the intter about the same. Even Consoli- dated Gas, United Corporation, United Gas Improvement and Public Service of New Jersey, the four stocks in which speculation for the rise had been most active earlier in the week, yielded more or less today. Early Market Irregular. In & market composed mainly of pro- fessional trading rloea pursued an m'oguhr ogurse During the first half ¥mur trading amounted to only 200,000 shares, com- red with 400,000 in the same period ursday. Call money renewed at % per cent, wl'.h ample supplies money desk and the consequent threlt of a‘drop in outside rates. The feature of trading was-the weak~ ness of Baltimore & Ohlo. While it did not move off widely, each sale set & Jower price and it was evident that possible dividend cuts were being dis- counted that and other rallroad stocks. Prisco, Pennsylvania and Lacka- wanna were also . United States Steel was heavy, drorrlng to a frac- uoml net loss after opening the industrial list. Allled Chemical, wn.n a 4l5-point decline at 14814, was the weak feature. American Can and use were fractionally lower. But there were gains in J. I. Case, Gen eral Electric, Corn Products and Colum- bla Graphophone. Mine shares were about unchanged. the Auburn recovered ‘most of an opening loss. General Motors was a shade lower at 43%. The showing of International Tele- phone in earning its dividend in what was & most difficult year for the com- puny was reflected in a point gain in stock. American Telephone and Noflh American were lower, but Con- solidated Gas gained. Oils were quiet. ities and equipments. In ‘motors Barracks Building Approved. Secretary Hurley today approved the re-erection of two barracks buildings at Fort. Cl‘l‘h Tex., to cost $34,141. Aviation activities in Mexico are in- creasing. 6% 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 securi Wm. H. Saunders Co., Inc. 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MANY FACTORS must be considered in determining the mediums to be selected for an investment program. First Mortgage Real Estate Notes secured on individual propuhn are more ea analyzed and understood form of security offered. thing on which your mone company's report will guarantee your note is a first lien on it. The. notes which we every ecured on mdlfldu:l properties in the District of- Columbis or its environs, bear interest at 6% and are available in ‘amounts from $100.00 upward. National 9345 if you desire to purchase No Commissions ily than almost any other You can see the tangible is loaned and the title re now ofiorin' are, in FINANCIAL, Unusual at $19.75 for home or of fice FOURTH FLOOR REAR Of W, B. Moses & Sons SAFE Over.a Third of a Century Without Loss National 2 THERE F Street at Eleventh FLR S.T MORTGAGES FAVORED FOR THEIR SURETY OF YIELD AND SECURITY There must be a good reason why the courts sanction the in- vestment of trust funds in First Mortgages—as they do. their riskless character. investment in our It is An_ 6% FIRST MORTGAGES has both surety of defi’nite yield 2 vely appraised and the security of conserva- j improved ‘Washington. real estate. May be purchased in-amounts from $250 up. 100 Substantial Sums LB. ‘B SAUL 6 925 15th St. N.W. IS NO SUBSTITUTE FOR SAFETY —are gvtfl&ble to us to loan on Real Estate in the District of Columbia and nearby Maryland And,Virginin. As Mortgage Loan Corre- spondent of the Metropolitan Life Insurance Company, we are always ready to serve you. 2 Construciion Loans in Any Amount, Washington Building WEREBROS Mortgage Loan Correspondent Metropolitan Life Insurance Company BTATEMENT OF THE CONDITION OF. THE Ethble Fire & Marine Ins. Co. of Providence, R. l. on the 31st day of December, 1930, as required under Section 647 of the Code of Law for the District of ‘Columbia : ] INCOME. Net amount paid lcyholden for lo-n All mm:;‘: other dis| ‘Total disbursements. Dea' agtate | ortgage loans o aceral loans . @ Total admitted assets Capital paid PR All other: Afreraft GEORGE W. HOLTON, Secret (uhlcrl I ST— District 9486 $1,316,780.36 262,586.80 20,881,32 41,600,25748 $689,767.63 770,560.01