Evening Star Newspaper, October 8, 1931, Page 13

FINANCIAL, DRUG STORE SALES | STILL ON INCREASE People’s Company Reports Advance of 3.9 Per Cent During September. BY EDWARD C. STONE. Sales of Peoples Drug Stores, Inc., in Scptember gave further impetus to the fine record made so far this year. Washington headquarters of the big chain store system reported today that September sales totaled $1.368.111, in comparison with $1,314415 in Septem- ber, 1930, or a gain of 3.93 per cent. Sales for the first nine months of the year were also reported, the total being 812,818,545, against $12,274,839, an advance of 4.43 per cent over the corresponding period last year. Peoples Drug Stores preferred stock is listed on the Washington Stock Ex- change and has sold around 100 most of the time @uring the year. It pays a 6'. per cent dividend. About 760 shares have changed hands in the 1931 trading. Highlights in Hoxten’s Report. Chairman Hoxton in his latest Re- serve Bank of Richmond report says that cotton and tobacco crops are smaller thap in 1030 in the fifth dis- trict because of reduced acreage,” but all other major crops show larger crops this year. Most of the increases in production are in Maryland. Virginia and West Virginia, due to the very poor yields last v because of the severe drought. “Twelve mutual banks in Baltimore reported an increase in deposits during August. although in most years there is a slight decline in deposits in_that month. tt rease being $181.079. Filth district textile mills consumed 26 per cent more cotton than in August, 1530, while the national increase was only 21 per cent. Of the building contracts awarded in August this year., 33.4 per cent were for residential work, while last year's contraets for residences were only 17 per cent in the same period. Trust Company Votes Dividend. t the montly meeting of the direc- tors of the Washington Loan & Trust Co., held yesterday afternoon, the reg- ular quarterly dividend of 3 per cent was declared on the stock of the com- pany, payable November 2. Books will be closed for trensfer of stock from October 24 to November 2, both dates inclusive. Secretary Mellon has announced an offering of $50.000,000 Treasury 90-day bills, dated October 13 and maturing January 15, which will be sold on a dis-) count basis. Proceeds from the sale} will go to the retirement of $51,200,000 of similar bills maturing October 1 Francis M. Savage, former president of the Northwest Savings Bank and later of the Central Savings Bank. is most _enthusiastic over the steps taken by President’ Hoover to strengthen the banking structure of the country. Mr. Savage had given the matter & great deal of thought and had formulated in his own mind methods of procedure al- most identical with the action outlined at the recent conference. He sees great | benefits from this latest move to both business and banking. Other Wash- ington bankers are in hearty accord with Mr. Savage’s views. Haas Elected A. B. A. President, Harry J. Haas, vice president of the First National Bank of Philadelphia, | was elected president of the American | Bankers' A iation, at the Atlantic City mn\eflffi,\ yesterday. He is & personal friend of magy Washington bankers, who are greatly pleased to have him at the head of the associa- tion. The late George O. Walson, long a leader in the local financial district, was a guest of Mr. Haas in Philadel- phia only a few days before his death. At vesterday's convention _session, James C. Stone, ‘chairman of the Fed- | eral Farm Loan, Board, defended the ocks alyY 5814 1023, 13815 421 1107 41y 11 31 NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office, %914 in 100-share lots except tho; 1 Stock and . Dividend Rate. Abitibi Pwr&Vap pf. Aham & Str (37%c), 1 Adams Express (1)., 22 4 Adams Millls (2).0es 7 Ady Rumley...... 5 Air Reduction(t4%4), 50 Alaska Juneau (40c), 150 Albany Wrap Faper., Allegany Corp. Alleg Cp pf $30 ww., & Alleg Cppf w40 w., Allied Ch&Dye (v Allis-Chalmers ( Amal Leather. ‘Amerada Corp (2)... Am Agri Chem(Del), Am Bank Note (+3) . Am Reet Sugar. . Am Beet Sugar pf. ‘Am Brake Shoe (2 Am Can Co (15) . Am Can Co of (1) Am Car & Fdry (1).. Am Car & F Am Chain pf Am Chicle (13) Am Colortype, Am Comcl Aleol Am Furopean Secu Am & For Power. Am & For Pwr pf! Am & For Pwr pf(7) Am & For Pwr 2d pf Am Haw St'ship (1 .; Am liide & Leath pt, Am Tlome Prod 4.20., Amice (2)..... Am International. Am Locomotive (1).. Am Lo'motive pf (7). Am Mch & Fdy 1.40., Am Metal Co ' Am Natural Gas pf.. Am News (13%)...0 Am Pwr & Lt (11) Am Pwr & Lt of (8 Am P&L1 pf A 68(6 Am Radiator (60¢).. Am Renublies. .. . Am Rolling Mills.... ¢ Razor (5) SI&R 2d pL6). . & Ret pt (1) Am Solv & Chemical. Am Soly & Chem'pf.. Am Steel Found (1)., Am Stores (1234). ... 4 Am Sugar Ref (8)... Am Suzar Ref pt (7) 4 Am Sumatra Tob. ... Am Tel & Teley ¢9 4 Am Tobacco (16) . Am Tobacco pt (6).. Am Water Wk (3)., Am Wat Wkscfs(3), ne & Lead of. conda Copper. .. Anchor Cap (2.40)... Andes Copper.. . Archer Daniel Mid. . Armour of Del bt (7) Armour of 11l (A)... Armour of 11l (B). Armour of 1Nl pf. Arnold Constabl ted Apparel. fated Dry G (1) Assd D G 1st pf (6).. Assoclated Atch To&: Atch To&S Fe pf (5). WAt] Coast Line (7)... Atiantic Refining (1) Atlas Powder (4)... 4 Auburn Auto (14). Austin Nich pf A (3) Aviation Corp (Del) . 4+ Baldwin Locomot! Baldwin Loco pf (7). Balto & Ohio 4). ..., 3alto & Ohlo pf (4).. Bamberger pf (632). Bang & Aroos (3%).. Barker Bros. ... 408 Rarker Bros pf (6} 405 Barnet Leather 2 Barnsdall Corp'n 9 Bayuk Cigar (3) 108 Bayuk Cig 1st pf ( 108 2 2008 Stock ancd Dividend Rate. 86% Corn Produc 38 Coty Inc. . 17 Crown Cork (2.40)... 25 Crown Cork pf (2.70) 3414 Crown W P 1st pf(4) 22 Crucible Steel. . 2 Cuban-Am Sugar. 29 Cudahy Packing (4). 8774 Curtis Publish pf (1) 1% Curtiss Wright. ..., 24 Curtis Wright (A). 70 Cushmans pf (8). 1215 Cutler Hamme 4 Davison Cnemical. . 1374 Deere & Co pt (1.40), 93 Delaware & Hud (9). 2915 Del Lack & Wn (2) ., 9 Denver&RG W pt 112 Detroit Edison (8).. 1214 Diamond Match (1), 221 Diamond Mteh pf 1% 6% Dome Mines (1)..... <11 Domn Stores (1.20) 10 Doug Alrcraft(t1i 421 Drug Corp (4) 3 Dunhiil Intern: 10 Duplan Silk (1) 53% Dupontde Nem Du Pont de N pf(6) astman Kodak (18) aton Axle & Spr(1), itington-Schild pf., 1% Klectric Boat. 2y Elec& Musical Elec Pwr & Lt (1), .. 5 Elec Pwr & Lt pf(6). 66'% Elec Pwr & Lt pf (1) 29 Klec Storage Bat (4), ng PSptww (515), 1it Otfice Bldg 2% 10% krie RR e rie IR 18t pe (4. ureka Vac Cleaner vans Auto I'rod . 5 Falrbanks-Morse Fed Mine&Smeltg pf. Fed Mot Truck(40c) . ed Wat Sve A(1.20) Fed Dept Strs ons pr 61§ ., 13 Firestone T & R (1).. 5014 Firestone T&R pf (6) 41 First Natl Strs (2%) 1 Fisk Rubber 14 Fisk Rub 1si 10's Food Machinery 1%. 10% Foster Wheeler (1) 3'a Foundation Co. 18 Fourth Nat Inv mije Fox Film (A) (2% 1., Franklin Smn pf(7). “reepo! amewell Co (3) ardner Motor, 9% Gen Asphalt ( Gen Baking (2 % ien Baking pf (8)... en Bronzi Gen Cable pf. Gen Cigar (4)....... Gen Electric (1.60). . Qen Elec spec (60¢).. Gen Food Corp (3).. Gen Gas&El A(ed0c) Gen Gas&E v pf(6). Gen Mills (3)......u Gen Motors (3 Gen Motors pf ( en Outdoor Adv. en Public Servic en Ry Signal (5) Gen Theatre Equip. . 4« Glllette Saf Razor % Gillette Saf R pt(5). 3 Gimbel Bros Glidden Co Glidden Co pr pt (7). Gobel (Adolf) Gold Dust (2%) Goodrich (B Goodyear T & R Goodyear 1st pf (7).. Gotham Silk Hosfery Gotham pf xw (7).. rand Unfon pf (3) Grant (W T) (1). Great Northn pf(4). Great Northn Ore(2) » » 2 » o e @ annans nroaulonaraSlalicsl vl reanBanaioa 2 1 27 344 24% THE EVENING STAR, WASHINGTON, D. C, THURSDAI}, OCTOBER 8, 1931 | |STOCKS IRREGULAR |OUTLBOK IN STEEL :| INUPWARD TREND| INDUSTRY BETTER 1744 27 341, i f.ton 1% 14 +1% # | public today Market Shows Advancing Tendency—Selling Pres- sure Is Lifted. g BY GEORGE T. HUGHES, Special Dispatch to The Star. NEW YORK, October 8.—Stocks made slow and irregular upward progress in today’s. market, There was no exuber- ance, no rush to buy and a generally restrained atmosphere, but the market in general gave a good account of itself. Possibly because of the restrictions put in the way of short selling, or possibly because it was felt that the most decideéd response to the Washing- plans for credit improvement should appear in bonds rather than in stocks, volume in the share market fell off. In the first half hout the turn- over was not half that jn the same period of the preceding session. Mean- while there was no pressure against the list from liquidation forced or otherwise. Opening prices were mixed, but the & 15 were larger than the declines, U. 5. Steel was up %3 at 68'y, and General Electric was up the same amount at 287g. General Motors, which makes public its September sales at the late recession yesterday as tech- nically normal. London opened lower today, later firming, and Paris eased, but these developments probably re- flected events in Germany more than American news. The Stockholm Bourse reopened, Auburn Auto w3s up 2 points at 99. American Telephon> opened off frac- ticnally at 1203, but with the n e than made up its early Consolidated Gas was fraction- 6812, and so was North | Public Service of New. Jersey rose 55 to 60'x. Westing- house electrical gained 35 to 447 Corn _products was up nearly a point at 433, Int the rails Baltimore & Ohio at 33, Chesapeake & Ohio at 257, Canadian Pacific at 1275, were slightly lower, but New York Central was up '; point at 53%. Standard Oil of New Jersey opened at 31, up 14 Sears Roebuck advanced ' to 37%;. Columblan Car- bon gained 174 at 403, and at 40 showed an advance of 1 The market resumed its advance aft- er the opening, those issues which had opened lower joining the rest in the improvement. Then trading turned dull, in some fast-moving stocks there wi fractional reactions from the top. Du | Pont at 57 was off & point from its high, | {but still a point higher on the day { The company’s announcement of a five- | day week and a 10 per cent cut in sala- | ries was bailed as constructive and as more evidence that the company intends | 10 retain its present dividend if possible. | The rails, after an irregular start,| turned upward in a broad improvement. | Atchison, New York Central, New Haven Southern Pacific and Atlantic Coas! Line all gained from 1 to 2 points. The utilities_extended - their opening gains, led by American Telephone. During the first half hour trading to 300,000 shares, against 700000 on Wednesday. Call monéy re- newed at 1!, per cent. CHASE BANK PROFITS Amerjcin at 33! Special Dispatch to The Star, NEW YORK. October 8.—Indicated profits of the Chase Naticnal Bank of New York for the-past three months: were well in excess of dividend require- | ments, sccording to the statement of condition as of September 29, made in response to the call of | the controller of the currency. After provision for the quarter's dividend re- quirements of $7,400,000 and an in- | crease in reserves of $1,821,000 during WELL ABOVE DJVIDENDS' § Downward Tré,nd Persists, but Prospect of Increased Buying Appears. By the Associated Press. NEW YORK, October 8. the downward trend of steel and pig iron new been made in September, some meas- : fourth FINANCIAL. since April. Last month's pig iron total, though the smallest for any month since 1921, was 11,075 tons a g:‘y above the low point of 1921, in y. “Current steel production is not above 29 per cent of capacity, com- pared with an average of 28.02 per cent for September, as computed by the American Iron and Steel Institute. Operations are still very irregular, slight gains in some directions being more than offset by losses elsewhere. Tin Plate Reduction, “A reduction of 25 cents a base box on tin plate to $4.75, effective for uarter ard the first half of . takes the price back to that in . furing most of 1922. The de- .. mo relation to the recent cut in steel m .1 wages, but is a concession -Although | urged by t. e can companies, which will in turn pass 1t along in prices of fin- roduction is still unchecked, with | ished cans to the food packers and low- records for this cycle having | growers. Another price decline is one | of $5 a ton on large rivets, the second ure of recovery in the final quarter | of that amount withii a few weeks. of the year is mow {ndicated by pro- spective purchases of automobile steel, Bolts and buts are also weak and sub- Ject to extra discounts to large buyers. rails and line pipe, Iron Ags says in | Otherwise prices of steel products have its weekly review. “The Ford Motor Co.” the review says, “is expected to place orders this week for a large tonnage of bars, sheets and strip steel for new models. Other automobile companies, includ- ing Chevrolet, have ordered steel for initial prodyction of their 1932 cars. While the trend of automobile output may not be upward before November, the steel companies will benefit from larger rollings this month. The com- pletion of some of the new automobile manufacturing programs is indicated by an order for 25000 tons of sheets for a builder of bodies. Rail Purchases, “Rail buying, though likely to be de- layed by many roads until the pending freight rate case is decided, is expected to be of fair proportions, *+ * * “Line pipe business, which was thought to be virtually over this year, receives fresh impetus from in- quiry for 170 miles of 20-inch gas pipe for "the Continental Construction Co., which 18 just completing one line of & two-line system from Texas to Chicago. “Building construction may be stim- ulated if the plans of the Washington admipistration” are successful in creat- ing easier .credit conditions. Many construction projects have been held up by difficulties in financing. Moreover, some recent large steel contracts have g::afl:g:lfl;a Il7yl X‘l‘tglfll u}-‘!]angiemvms el lettings 2 w 24,Sdol)fl|¢ons. g o e The daily output of pig iron lasf month was 38,964 tons, ox’p:'l pcl: l(‘nt below the 41,308 tons of August. The decline, however, slowed up, the drop in active blast furnaces of three hay- ing_been the smallest for any month ——C_SmaTest for_any month s LOANS W. : FRIEDMAN 416 5th St. m NAT. Authorized Service United American Bosch Magneto Corp. (Robert Bosch & American Bosch) & Splitdorf Magnetos MILLER-DUDLEY CO. 1716 14th St. N.W. North 1583-4 Money to Loan L t on real est commission: !Qel" e |II“.'. :Il "li Mgk B Joseph 1. Well oy T Gum-Dipped TIRES FIRST LINE Each Tire Carries stood the test of fourth-guarter con- tracting with considerable firmness. “In raw materials, however weakness is quite evident. Pig iro has been reduced 50 cents a ton at Chicago on sizable lots and steel scrap has given 25 cents at Pittsburgh and Phil- adelphia. The Iron Age composite price for scrap is now $8.83 a gross ton, against $9 in the previous week, and the low- | est on records The pig iron composite has dropped to & new low of $15.34, not equaled since 1915. The finished steel composite is unchanged at 2.116 cents a pound, tin plate not being in- cluded in this average. price | #en A-18 SEPTEMBER AUTOQ OUTPUT. 'i¢ NEW YORK, Ocfober 8 (#)—~c| h tember automobile production in‘ th United States and Canada totaled 142,- 651 cars and trucks, a decline of 258 ger cent from the August total of lbk; 41 and 37 per cent under producti of 223,606 units in September, 1930, the preliminary estimate of the Na= tional Automobile Chamber of Com= merce shows. Producticn in the Ilnts nine months was 2,196,129, a_decrease of 28 per cent from 3,047.752 in the corresponding period last year, First Mortgage Loan: Applications Inyited at 5/5% Glover & Flather 1508 H St. N.W. National 1753 *lllIIlIlIIIIIIlIIIIIIIIlIIIIlIIIIIIIInlmlllllllllllllIII|I|IIIIIllllllllllllIlIl_lIIIlIIIII[IIIIlIlIIlIlXIIlllllmlllllIlIIlIlIIIIlIIIIIII* Money Available for Mortgage Loans UR facilities for making FIRST TRUST LOANS (whether original or refinanced) are exceptional —unlimited funds and the organization to give prompt attention to every application. Loans will be made on apartment house, office building, residential and business prop- erties, located in Washington, or in nearby Maryland or Virginia—for 3, 5 and 10-year periods, at....,c.ceeen... 5%% RANDALL H. HAGNER & COMPANY . MomTGAGE. LOAN CORRESPONDENT 1321 Connecticut Ave. Decatur 3600 Rate Maturity 1941 42% 4% trict of Columbia, ar? States. , Complete Circular on request 1700 Eye St. N\W. 1853-1954 1953-1955-1956 84 1956-1957-1958 78 Legal investments for Trust Funds in the Dis- We recommend for investment— Federal Farm Loan Bonds (Exempt from Federal, State, Municipal and Local Taxation) Approx. Present Price 94 85 Approx. Yield 5.78% 5.849, 5.75% 5.95% Savings Banks in most Acceptable by U. S. Treasury for Gov- ernment deposits, including Postal Savings Funds. Inquiries invited WAseAMAN, BRAWNER & CO, . WNCCRPORATED Investment Bankers ME. 3860-4 Beatrice Cream (4).. 10 Beatrice Crm pf(7).. Beech-Nut Pkg (3).. Belg N R pt pf 14.81, Bendix Avi Best & Co ( Bethlehem Bethlehem Stl pf (7) Blumenthal pt (7) Bohn Alumn (1%) Borden Co (k3).. Borg Warner (1) Boston & Maine RR. Brizes Mfg (11%) Brockway Mot Trk. . Bklyn-Man Tran (4) 713 Bklyn-Man Tr of (6) 7 Bkiyn & Queens..... BElyn&Queens pf( 4 Bkiyn Union Gas (5) > OEEN Cre »#| the period, the statement showed a gain sttt s T %lin undivided profits of $1,569,000 over Gult States Steel, . 12| the June 30 figures. Total undivided G ceie | profits as of September 29 amounted to Hackensack W (115) “» In $30,150,000 and total reserves to $16.- Hahn Dept Stores. .. | 540.000. Tot:l capital funds on that date were $326,000,000. Hars & Walker (1) 19% 19% — 4 s S AUSTRIA IN CAMPAIGN TO REDUCE EXPENSES Hawallan Pineap (2) 15 151 — % By the Asscclated Press. Hayes Body Corp... 2 L 0 Ry Hercules Pow pf (7). tiershey Choc (5).. . Hershey Choc pf (15) iloe (R) & Co.... Holland #urn (f2 Houdaille Hershey . . Accepting the recommendations of Househld Fin pf 4.20 the Leegue of Nation's Finance Com- Houston Oil.... mittee's report on its financial condi- tions, Austria has taken steps to reduce expenses drastically. A cable to the Commerce Department. says a bill hs passed Austrian Par- liament_which lops off about $39,000, 000. The curtailment will be accom. Factory’s Standard Warranty board's interventfon in the grain and cotton markets, gttributed the condi-| 111 tions leading to the depression to the| 62 World War, and yged hankers to par- ticipate in restoring confidence. Following the steck market crash in 1929 export markefs for farm products began to disappear.cMr. Stone said. He declared that the Farm Board in inter- vening in the commiodities market, had saved farmers moré than $100,000.000. A total of $300,000,000 has been loaned | to co-operative associations, he said, of which $170.000,000 has been repaid. | Readjustment of production to cxist- | ing needs is the immediate problem of | agriculture, Harry L. Russell of Madi- son. Wis., chairman’ of the associa- tion's as:rlc\;llural comfimission, said in presenting the commission’s report 3 The obvious way to get Tid of a sur- i e plus would be to reduce production, but | BhcytikiR the reduction of farm acreage, while | 2 easy to propose, is “difficult, if not im- possible, to enforce in an effective way, he said A Washington clearing house figures for today, $3,925,791.89. Trading on D. C. Exchange. Fifteen sharcs of Capital Traction stock sold on_ the Washington Btock Exchange at 25',, practically the sanie price as the last previous sale. Today's trading was mcst active in Washington Railwvay & Electric pre- ferred. which figurd in a_6l-share turnover at 92. eight different transac- tions being recorded. : Lanston Monotype stock was out again, but_only 15 shares changed hands, at 70%. up 3, from the last sale. Mergenthaler Linotype, recorded Celanese COrp. .eass two very small sales at 65. 2341 15" Gent AEUIFTS(150) The largest bond sale was n Wash- 315 Contuty RIbM{IE. ington Gas 6s. series B, $1.000 at 100%,. Cerro de Pasco (1) Only one other bond sale was registered. Certain-teed Prod The last_stock sales were in Potomac Checker Cab Mrfg. Electric Power 6 per cent preferred, at Ches & Ohio (2% ..+ 107, and the 5'; per cent preferred at Chesapeake Corp(3). PROPERTY MANAGEME i Apartment House MANAGEMENT s H WE are having applications to rent modern homes Brwebineremes Houston Oil (new). Howe Sound (2).... 7 Iiudsen & Man (3%) 7% Hudson Motor (1). % Hupp Motor: G . 2 89 Illinois Central ( . Budd Wheel (1). Indian Mgtor Cycle Bullard Co.... Indust Rayon (4)... Bulova Watch (80c) Ingersoll Rand (4) . Burrough A M(1135) Inspiration Copper. . 4 Bush Terminal(2%). Insuranshares Del A Bulte Copper & Zinc. Insur Shr(Md) (40c). Butterick Co. 4 Interboro Rap Trans, Byers (A M) Co Intercontl Rubber. Interlake Iron Inu Agricultur - Int Agriculture pt. Int Bus Machine(n6) 5 Int Carriers,Ltd 60c: Int Cergent (4). Int Combustion Int Combustion pf. Int Harvester (2%).. Int Hydro E1 A (e2). Int Match pt (4).... nt Merchant Marine, Int Nick of Can(40c) Int Paper pf.......s Int Paper & Pwr (A) Int Paper & Pwr C... Int Paper & Pwr pf.. Int Rys Cent Am. Int Salt (3). Int Shoe (3) Int Tel & Tel (1). Iat Dept Stores (2 Investors Equity 24 Jewel Tea (4) R 31 Johns-Manville (3).. 99 Jones & Laugh pf(7) 8i¢ Kansas City Southn. 33% Kan City Sou pf (4). 8 K'mann Dept Strs(1) 4 Kayser (J) & Co (1). Ceith-Alb-Or pf (7). Kelly-Spring Tire Kelly-Spr T 6% pt. 1y Kelly-Spr T 8% pf. . Kelsey-Hayes Wheel Kelvinator Corp. ... Kendall Co pf (6)... IKennecott Copper (1) Kinney (G R) Co.... ¢ Kinney (G R) Co pf. Kresge (S S) (1.60) Kreuger & Toll 1.61 Kroger Grocery (1) from those who will make rost desirable tenants. » 7.00x20. ... .$15.00. Other Sizes at Proportionately Low Prices BEN HUNDLEY 3436 14th St. N.W. . Adams 8100 plished by the reduction of capital ex- penditures, by cutting down salaries of government employes, and by tem- porarily discontinuing new_government and army appointments. New and in- creased taxes are expected to produce additional revenue. ‘There are still no plans for the open- ing of the Vienna Stock Exchange, it was stated, and the Austrian National Bank continues the rationing of for- eign exchange. If you have such a home and want a tenant, list it with us. B. F. SAUL CO. 925 15th St. N.W., raBaprmpnBumcnnna Nat’l 2100 GA(3).. 26 ific 1% B5568 (1.60). 2 218508 Case (J 1) pt ( Caterpillar Trac(3). Accounting Records— Visible! CLASS ONE RAILROADS| ;i3 &, S REPORT INCOME LOSS : 1 'neu Tool. Chi Pneu Tool pf. Chicago R l&Pacific. Thirty-five class_one railroads oper- ated ataa loss for the first elght months of this year, according to a statement Chi R1& Pac pt (6). Chi Yellow Cab (3) issued today by the Bureau of Railway Economics. Childs Company . Chrysler Corp (1). City lce&Fuel (3.60) City lce&iFuel pf 6% As a whole, the class one lines had a net railway operating income of $350.- 943,778, which was at the rate of 2.14 per cent on their property investment, cording to the statement. which was ed on returns from 171 roads, repre- senting a total of 242.899 miles. In the first eight months of last year Colo Fuel & Ir net railway operating income was $556,- Columb G & 2 446.261, or 345 per cent, on property 5 Col Gas b agl oS L investment. 3 877 407k Gross operating revenues this vear 81 1T were $2.920,108.894, a drop of 19 per | 69% 35 cent from last year's figures, while | 7 operating_expenses were cut 17.1 per cent to $2.266.364.9 Of the roads operating at a loss from January through August 12 were in the Eastern district, 6 in the Seuth- ern and 17 in the Western. 0 FIRST MORTGAGE NOTES Punctual payment of interest— prompt return of invested funds at maturity, when desired. o Simplicit Collnse Ak pEtT) HE Metropolitan is, P iy ns & ALK pE (7)1 olie and has been, a constructive force Compactness and in the city’s growth, for Efficiency over one hundred and A bolled-down _butfit—visible— seventeemn consecduhva col:;lp':c:i —_ wi::dxp‘ensive. us;ecm i Retail Mer- facliities are always at Stallment Houses, Attorneys, Doc- the service of customers, tors, Dentists, in addition- to intent. on growing. . stock “merchandise records for 1] You're invited to talk any line of business, - Facts without frills—at hand over- your banking- re- quirements with us, at &hen you want figures quickly, your convenience. Lambert Co (8) SAFE PROFITABLE CONVENIENT Lehigh Valley R Lehman Corp (3) Libbey Owens Gi Liggett & Myers(15) Ligg & Myers B (15) Lily Tulip Cup(1%). Lima Locomot (m2). & Liguid Carbonie (2). Loew’s Inc (3). Loft Inc. . Loose-Wiles (13, 10 Lorrillard (P) Co. 20 LouGas&ElA (1%). 40 Louis&Nashville(5). 51 Ludlum Steel. . . Comm Credit (1.60).. mcl Cred 18163 ) . Comel Cred pf B (2). 2 Comel Inv Trust (2 Comel Inv Tr pf 6% . Comm Invevpf(e6). 914 Comcl Solveuts (1).. 412 Comwlth&Sou (40¢). 68 Comwlth&Sou pt (6) 674 Congolm-Nairn (1)., 20 Consol Cigars (5)... 46 Consol Cgr pr pL 6%, Consol Film......os * Consol Filin pf (2). Gonsol Gas N Y (4)., $ansol Gas N¥ pf15) 4 15 McAnd & Forbes (2), Consol Laundries(1) 4 17 MeCall Corp (2%) - s 17% fltcmy (B) (2). oo o 3815 McKeesport T P (4). bbbl L I 7w McKesson & Reh(1). %4 Contalner Corp (B).. 19 McKes&Rob pf(33) + Contl Laking (A) 214 McLellan Stores. .. # Contl Baking (B) 7 15% MackTrucks (2 40 Contl Baking pt (8). 41 | 106's 53 Macy(RH)& Co( 31% Contl Can (2%8)..... 89% +34 | 2 Madison Sq Garden 4% Cont Diamond Fibre. bl — % T4 Magnm Copper (1). 19% Cont Insur (299) % Mallison & Co. 1% Contl Motors. R TRy pey - e g 5 Contl Oil (Dei). (Continued on Page 14.), Particulars of available notes will be mailed upon request. it NEW SECURITIES NEW YORK, October 8 (#)—New securities offered today include: Federal Intermediate Credit Banks, $12,000,000 332 per cent debentures, dated October | 15 and maturing in 3, 6, 9 and 12| months, priced on application. make comparisons, check up on business or make out income tax reports. Fast and simple—either double or single entry. Ask us _about visible records for “your business 4n the o HPun Vi-Dex H. L. Rust Company 1001 Fifteenth Street National 8100 ESTABLISHED 1909 National etropolitan BANK Fifteenth Street Opposite U. S. Treasury U. S. TREASURY BALANCE. ‘The United States Treasury baiance announced today as of close of busi. ness October 6 was $533,387,595.51. Custems ipts for the month to date x:lu.ns,ou.u Total ordinary ex- tures: were $33,065,082.80, i