Evening Star Newspaper, March 26, 1931, Page 13

FINANCIAL. REVENUE NEN AD 4759 N DSTRT Government Experts Perform Valuable Service on Tax Returns. BY EDWARD C. STONE. According to announcement by Galen L. Tait, internal revenue collector for this district, the revenue agents as- signed to 13 Washington banks ren- dered service to 4,759 taxpayers. The revenue €x- perts were on duty one full week, and Mabel V. Royee. office. The hum and their customers tly appreciated the service ren- red. lor leverll yu.rl tax specialists have been assigned to the banks here, and '.'hoel.r c“ednfl );;‘v: Nmm{ come to depend on the service in final rush in the ‘drawing up of their tax returns, Customers go to the banks, where many of théir securities are kept and where they have complete records Lh‘!lr safe deposit boxes or on the ’ books, so that it is far more con- venient to consult the tax men there than at the internal revenue ofiice. u tax agents were This year lhe number and thelr flgfl of lirvlc: reduced, on account of pressure of work in the Internal Revenue Bureau. officials mm e potn: 1.hlt they had assumed the s year as in previous n.nd did non have sufficient time th work in the lueo( ed the larger nnnnm institutions. The e prove how much they were needed. Mabel Royce Club President. Mabel V. ce of the Wll‘ll.lllton of thc Beufl of Governors , Commercial Laila M. Sloat, Na- C. & P. Phone Net Up $40,716. Balance net income of the Chesa- e Co. for ,749, which: two encing amounted to 0255 18, a5 compared with $199,606 for the same period in 1930. ‘Telephone opennng revenues in Feb- Thiny expenaes of S5i34%, "Adier de- | expenses - % taxes and uncollectible, the to- tal operating income for the month was $165,003. year were $1,497,560, with m o( $1,043,480. After deducting taxes and uncollectible, the total oper- Ofin‘ income for this period was $337,- an increase of $9.537 over month last year. Taxes for two months of this year to $106,862, an increase -of 15,507 over the same period in 1930. ures for new plant ipment added to the company's '.he District of Columbia dur- Ty was served by 170,088 tele- , 1,608 having been added to the "since January 1. Traction Leads Local Market. Capital Traction led trading on the ‘Washington Stock Exchange toda: openednulndclalednn the last sale, however, involving but a le share. National Bank stock appeared board today, five shares selling Raflway and Electric pre- at Il and Potomac Electric preferred at 11234, confin vu 58 and Gas vels. Treasury Covering Loan Needs. ‘The Treasury Department has taken the first to meet the demand for $3200,000,000 the Veterans’ Bureau for on bonus certificates by calling tender of $100,000,000 in -90-day two series. e issue, $50,000,000 will be dated 3 and mature July 1 and the re- ‘'ng $50.000,000 will be dated April 1 maturing July 2 : issue is entirely for veterans’ pus as the Treasury has no other immediate need for funds as next maturities come in May, when $214,- 000,000 in bills become due. ‘The $100,000.000 now sought for bills will cover only half th: requirements estimated to be needed by the Veterans' The bills are sold on a discount basts to the highest bidder, from which the determination of interest is made. Gleaned in Financial District. ‘The Anacostia Bank yesterday de- egular 5 per cent quarterly r‘ylble March 31 to stock- ecord March 26. ';W’Cllyu)n.l ‘l’rh:l?"n'ho’ the justment Bureau of ‘ashington W nnAnocmlAt n, in his annual town mnn founder of the House inbs has been on an extended will reach home next revenues for the first two | % Callahan Zinc & Ld.. NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. —Prev. 1981« stock ana Bales— High. Low. * _ Dividend Rate. _Add 06, Hien. 22 Cuban Am Sugar pf., % Cuban Dom Sugar... 3 41 Cudahy Packing (4). 1 89% Curtis Publish (17).. 2% Curtiss Wright Corp, 3% Curtiss Wr Corp A.. 100 Cushman's pf (7).... Davison Chemieal. Drlaware & Hud (9), Del Lacka & Wn (4 Diamond Mateh. ... Diamond Mtch pf 13 Domn Stores (1.20).. Drug Corp (4).... Dupont de Nem (4).. Du P de N deb pf (8). Bastman Kodll (13) d Abitibl Pow & Paper ADbitibt P & P pf (')- Bxp ( s ReBand Adams Millls (2).... Adv Rumley (new).. Air Reduction (1434) Alr Way Elec Appl. . Alaska Juneau (40¢) = 2 Allis Chalmers (3) . Alpha Port Cemt (1 Amal Leather..... Amerada Corp (2) Am Agri Ch of Del. Am Bank Note (+3) Am Bank Note pf ( Am Beet Suga Am Br Shoe Am Brown Bov Elee. Am Br B E pt (T) Am Can (15). Am Car & Fdry (3) Am Car & Fdy of (7) Am Chiecle (43) Am Colortype (1.40). Am Comel Alcohol. Am Encaustic (1) Am Buropean Secu Am & For Powe Am & For Pw pf (6). Am Hide & Leather Am Hide & Leath pf. Am Home Pr (4.20) Am Ice (3). Am Interhational.... Am La Fr & Foamite Am Locomotive (2) . Am Mch & Fdy 1.40 Am Mach & Metals Am Metal Co. Am Na' Gas pf (7). 1 Am Pow & Lt (31).. Am P & L pf A st (5) Am Rad & 8t 8an (1) 115 Am Republies . Am Rolling Mills. .. Am :-re‘xynkfu:: ) Am Sm & Ref ( Am 8m & R 24 pf (6) 4 g:: é:glhu‘ @ Am Sm & Ref pf (7). 1 Gen Ca Gen Cal Elec Pow & Lt Dl iy Elec Pow & Lt pf (7) Elec Stor Bat (5)..., Emerson Brant A. ... Emerson-Brant (B).. Eng Pub Sv pf (5%). Eq Office Bldg (3%). Brie RR........ Fureka Vac Cleane: Evans Auto Products Falrbnks Morse 1.60 " S = EETT S-S ¥R 58 First Nat Strs (2% Fisk Rubber. Fisk Rubber 1st pf. Florsheim Sh A (3 Foster Wheeler (2 Am Stores (12%) Am Sugar Ref (5)., Am Sumatra Tol Am Tel & Tel Am Tobaceo (4! Am Tobacco B Am Tobaceo pf ( Am Type Fdy (8) Am Water Wks (3).. Am Wat Wks ofs (3) Am Woolen Am Woolen Am Zine Le: Anaconda Cop (1% Anchor Cap (2.40 Andes Copper. . - Gen Realty & Utll, Gen Refractories (4) rBnoranatlvnononSnBanan nalnanaon Goodyear 18t of (7). Gotham 8 H pt (7) 108 20 g 5 s Austin Nich pr A Aviation Corp of Del 44 Baldwin Loco (1%). 47 Bal Sugar. Grt West Sug of (7). 10- Grigaby Gm !1 Sta ee) Gulf St !tl 18t pt (1) oo- Hackensack W (1%) 2 Hann Dept Stores. .. Hahn Dpt St pf (6%) 2 Hanna pf (1)... 2408 Harb Walk Ref (3).. 1 Hartman Corp (A).. Hartman Corp (B).. Hayes Body. .. Bayuk Cigar (3). Bayuk Cig 1st pf e tafll:l Cream (4) i s H Briggs Mfg (11%). Briggs & Strat (2).. Brockway Mot Trk. Bklyn-Man Tr (4). Bkiyn Union Gas (§) Bruns Ter & Ry 8 Bucyrus (1). Budd (EG) Mfg. Budd Wheel (1). Bullard Co. Bulova Watch (1 %), Burroughs A M t13. Bush Terminal (2%) Bush Term deb (7).. 50 Bush T Blég pt (1) Butterick Co...e.uu0 Byers (A M). (A M) 2 (T) Callf Packing (4) SCounBlune Houston Of] (new) Howe Sound (3)..... Hudson & Man (3%). Hudson Man pf (5).. Hudson Motor (1). Hupp Motors. . Iliinols Central (1) Indian Motor Cycle. . Indian Refining. Indust Rayon (4).... Inland Steel (4). Inspiration Copper-. 6% Insur Bhrs Md(40c).. Interb Rap Transit. . 9% Interlake Iron (60¢). Int Agricultural. Int Bus Mach (né Int Carriers (37%, Int Cement (4) Int Combustion. Int Comb Eng p! Int Harv Int Harve Seaa Calumet & Arizona Calumet & Hecla Can Pacific (2%) Cannon Mills (1.60 Capital Admin A. Case (J I) (8). Caterpillar Trac (+4) Cavanaugh-Dobbs pt Celotex Co. Celotex vte ctfs. Cent Aguirre As1%. RBowumadomennwnnen o Sel monmoenonateRuns 2lenElanen Rormne Int Nickel (§0e Int Nick Can pf ( Int Paper pf (7). Int Paper & Pow Int Paper & Pow C. Int Pap & P of (7)... B Int Print Ink pf (6). 1008 Int Rys Cent Am ct.. 50s Int Salt (3).. 5 Int Shoe (3). Int Tel & Tel (2) Inter Dept Strs (2) Investors Equity.... Jewel Tea (4)... Johns-Manville Johns-Manv pt (7) Jordan Motor Car. Kayser Julius (2% Kelly-Spring Tir Kell: s .8 Seni e ed Checker Cab Mfg. . Ches & Ohio (2% Chesapeake Corp (3) Chi & Alton pf Chi Great West: Chi Great West p: Chi M1l St P & Pac. Chi & Northwest Ch! Pneu Tool . Chickasha Cotton OII Childs Co (2.40) Chile Copper (2). Chrysler Corp (1 City Ice&Fuel (3. City Ice & F pf §§___.._ PP g Col Gas & El (2). Col Gas & EI pf A ( Col Graphoph (a% Columblan Carb (16) Kolster Radlo ct: Kresge (88) Co 1.60. Kreuger & T (21.60). Kroger Groc&Bak(1) Lambert Co (8). Lane Bryant (1) Les Rubber & Tire. Leh Valley Coal Lehman Corp (3) Lehn & Fink (3 Lib Ow Ford Glass. Lite & Myers B (15) Comm Sblvents (1).. Lima Locomot (m2). Cmwith & Sou (60¢c). Liquid Carbonic (3). Cmwith & Sou pt (8) Inc (3). . Congoleum-Nairn. 0 . Loew's Inc pf (6%). Congress Cigars (4). 2 2 s Loft Inc. Consol Cigars (§)... 2 Loose-Wiles (+2.80). Consol Cigar pt (1).. 208 Loriilard «F) Co. ... Consol Cig pr pf 6% . 90s Lorillard (P) pt (7). Consolidated Film... 166 a2 01l Consol Film pf (2 Consol Gas N ¥ ¢ Con Gas of NY Consol Laundri Consol RR C pf (6) Comel Cred pf (1%). 1!0- Comel Cred 1st (6%) 40s Comel Cred »f B (2). 708 Comm Inv Trust (2). 29 Comel Iny Tr war. .. Comel Iny Tr pf 6% Comel | T ev pf (6 McCall Corp (2%) . .+ MeCrory Stores A(2) 20% Iellt’rn Pore M (1) Ipt Tln Pfll) . lchu.e & Rob McKes&Rol .f(l“) McLellan Store i Mack Trucks (3).. uny(nfl)lco(na). gma Copper (1) 1ison & C n Elev mod g (d5) 4 Marine Mid (1.20).. Market St Ry. 28 Marlin-Rockwell (2) 1 Plel \I SrovannmnoSswevoncSvenionSavenanE BEua Contl Baking pf (8). Contl Can 12%) Cont] Dia Fibre (1).. Contl Insur (2 40). Contl Motars Contl O1) of el Cont Shar Corn Prod Cream of Wht (1 Cr Cork & Seal 2.40 Crueible Steel. Crueibl: Ca i_...:. s THE EVENING STAR, WASHINGTON D. C, THURSDAY, MARCH 26, 193% Specialties Featured on Side of Advance—Thin Market for Carriers. BY GEORGE T. HUGHES. Special Dispatch to The Star.* NEW YORK, March 26.—In today's hl‘hly irregular stock market the move- ments that attracted attention were those on the side of advance, principally stocks with, a small floating supply lnd generally known as specialties. mmnodeflnlwtrmdlnthenwned investment shares, unless it was the sporadic liquidation in the rails. ‘The feature of the early trading was the weakness in the railroad stocks. Baltimore & Ohio, the dividend rate on which was cut Wednesday from $7 to $5 annually, was comparatively steady, but bréaks took place in Louisville & 30% | Nashville and in Missouri Pacific pre- ferred. New York Central and Atchlwn sold off and there was a thin market on the way down for other carrler issues. ‘Unfavorable Earnings. ‘The reason, of course, was the na- ture ‘of the Pebruary earnings state- 6% | ments, which made as bad an impres- sion as any similar showing for months back. News of the Cenference of Rail- way Presidents in this city, presumably in connection with merger plans, was % | not sufficient to offset the discourage- ment over earnings. In spite of thh poor showing by the rafls, the speculative cliques sponsor- ing industrial specialties, easy to move because either of a small number of shares available for trading or be- cause of an unwieldly short interest, pro- ceeded to bid up their favorite in the now familiar fashion. One of these was Mullins Manufacturing, which rose § polnu to & new high. Another was orthington Pump and still another Unlud lurmn. the buying in the Iat- While all this was on in these volatile shares, U. 8. i 644 | Motors were distinctly heavy. West- Lease and Royalty Buying Practically Halted by Price Decline. BY JOHN B. BREWER. ‘Written for the Associated Press. SAN ANGELO, Tex., March 26.—De- spite the fact drilling is at the lowest ebb since it began to develop into an ‘Texas oil ductions to the lowest levels like gravity anywhere in the States, West Texas, due to its immensity and diversity of producing horizons con- tinues to offer much of significance and e No. 1 oil carporation’s oup No. (Te:o::)‘:u&po-n flnxw‘x:uy”:-w.: mu;fl largest e world's nine deepest - ducers, ‘:n Regan County, established & new peak in flowing 9,374 barrels lppmxlmntely 60 gravity crude during 24 hours ending Monday morning. Thll was 667.50 barrels more than its B e, P L R was re e % Commission. Two weeks ago, the T o, B, ul ) at an undetermined level and ran wuyl out of control for three days. i Depth of Wells. | The nine deep wells range in depth from 8526 to l!&l feet. Two lfi in, other seven gauge :l::::notlfl 000 barrels of oil daily, \'hile nine have a total potential ex- 'o?eaxn. 200, noo oou eubl':‘(aet dally. utllize this fuel, the Texas Public Serv- ice Co. nwé-uylngun-l;uhumflo as line to San Angelo an {n-mfle gas line to the Pecos Valley Power & Light Co.’s plant on the Pecos River. Employment is being gi first 1 extend Irion nh‘:lgo'?';'u?;nflty sweet oil field 3! miles n&ld-xuuu Oil & Gas Co. No. 1 Goode in East Central Terrell County the most clo.elydn inghouse Electric fl\whuud erratically, | struck but in the main held well. American Can was strong, but that was an excep- tion in this part of the list, Rubbsr stocks were weak, notably Goodyear, about whose dividend pros- pects traders seemed none too erican | counties into Lea County, N. Copper dividend came just before noon. That stock was put on & $1.50 annual basis, against $2.50 pre- viously paid, and the dividend on Andes Copper was passed. t only remains to note the favorable uitude toward e utliies, including bl Brooklyn Consolidated Gas, U!alm Gas and the e‘l.glhkfi&lhlm money renewed at but was firm at that rate, wfi: siderable calling of loans in anf tion of the first of the month reg ments. Early Selling in Rails. Selling in the rails developed after an_early show of firmness. ore & Ohlo, on which the dividend was cut on Wednesday, hel around the closs, but Louis- ville & Nashville broke 3 points and Missouri Pacific preferred over 3 points. c‘nhlluden, ldn:ludlnlw ew York , came down. estinghouse Electric, steady at the start, also sold off on more ture consideration of the dividend cut, Among the standard industrials, American Can advanced a t, but United States Si dropped back un- der 146 to itely the low of the reaction and oenenl Motors was unable to make headwa; o] An "zmpl to bid uD W . S, mmnmn the ntock gained 3 pohm but Auburn Auto, after pushing shead u:" nha‘ 5- . Rul fim‘ the decline in the commodi- PRS2 e g TEXTILE TRADE GAINS. By the Associated Press. ‘Textile World says the closing days of the first quarter find the textile in- dustry fulfilling the promise of improve- ment made at the beginning of the the year. Iis productive basis %o far is | {3 BN L about 10 per cent better than average for the last six months of 1930, a large reserve of orders, espe- clally in eoflon goods, 1s being built up, pointing to a more stable rate of ac. Mygefih year than has existed for First Mortgage Loans We Have the Facilities —fqr financing that real estate proposition promptly —and immediately the necessary preliminaries are taken care of the money, amount, is available. We are interested in making loans on residential, office building, apartment house and busin pro erties in the District, near- aryland and Virginia—for 1 pfl‘lodl of 3, 5 and 10 years— 2 0 RANDALL H. HAGNER & COMPANY ¥ mMomrresem Loan New York Life Insurance Company 1321 Connecticut Ave. lime. Oil production u'zna northwest. from the Yates pool in Peco County through half s dozen wut ‘Texas . Mex., and in the Terrell test aroused t.hn the trend may enend south- Bnr:lu of Mines Fund. By the Associated Press. w‘ July 1, 1931, the Bureau of es will hlyve available $2,278,750 for continuing during the fiscal year e . of th & summary e ons: Investigating mine accidents, $433,660; , $165,44 mining experiment stations, $231,570; mlu of mineral industries, $322,- 660; testing investigations, $232,860; in- v-unmn of resources of helium-bear- , $74,760; operation of hanum mom maintenance of Pi h' cxpfllmnt l;‘fl‘m “2100 I;!sd and general , $90, Pmm the Navy, the u will re- celve $192,000 for supplying helium. i The American Ice Co. has declared the regular quarterly awi.na of 75 cents on common stock and $1.50 on preferred stock, both n-y-bu April Money to Loan W‘h I.ll of filll..‘. l&t:‘l’l Joseph 1. Weller Sarra s B N no matter how large the Decatur 3600 PROPERTY MANAGEMENT Apartment House MANAGEMENT THERE is nothing which needs .more experienced management to inisure a profit. ice for a nominal fee. B. F. SAUL CO: 925 15th St. N.W R T G A Nat’l 2100 FINANCIAL, W—Ffi- Aoy National 0475 Authorized Service A. C. & Northeast Speedometer Repairs MILLER-DUDLEY CO. T. W. MOFFAT, 61 Broadway, New York. Treasurer, Shoreham Building There Are No Offices to Compare OU will be surprised at the type of ac- commodations which are offered in this new build- ing— because instantly they are recognized as the natural headquarters for leaders in business and the professions. arrangement of the suites give oppor- tunity for a most effec- tive setting; while every factor in service that contributes to maximum efficiency is one of the features. You'll be most agree- ably ‘located in The Shoreham Building. Let us show you First Mortgage Loan " Applications Invited at 5/5% Glover & Flather 1508 H St. N.W. National 1753 Collateral Loans oN Listed Stocks, Bonds, First Mortgage Notes, and Personal Property. Owners of First Mort.a;o Notes issued by Swartzell, Rheem & Hensey A available space and 'h"mu eolnnllk us how perfectly it will without delay. meet your require- ments. BANKERS BOND.V | EVER 4.GOSS 5. lmt:. of 'hco-.n Ofimaom m at H % National 5643 734 Southern Building National 1596 Wanted—Sal&smén By a long established and well known Invest- ment Banking House, two young men to sell high-grade securities. Previous cxpmnu essential. Would be pleased to interview anyone now engaged in the business who may :be contemplating.a change. - Replies comv - 3. s Address Box 400-A, Star Office National Metropolitan Bank 15th St., Opposite U. S. Treasury 1814—Oldest National Bank in the District of Columbia—1881 It's a Matter Of History . —now;, that The Metropolitan was the first national bank in the United States to be granted Trust Powers under The Federal Reserve Act. flOur Trust Dept.. is today discharging fiduciary duties for a host of clients. TRUST DEPT. Safe Profitable Convenient [ ] FIRST MORTGAGE NOTES ° Secured on homes and revenue producing propdities in the Dis- trict of Columbia and adjacent Maryland suburbs. Permit us to offer our facilities for the placing of your in- vestment funds . . . May we tell you more of our present offer- ings. National 8100 SHED 1/