Evening Star Newspaper, November 25, 1931, Page 13

FINANCIAL. FINANCIAL., * THE EVENING STAR. WASHINGTON, D. C. WEDNESDAY, NOVEMBER 25, 1931 ®E® A—I3 " GASCOMPANY NET | NEW YORK STOCK EXCHANGE | |STOCK PRICES SAG | [Wasigton Proce] IAUTOMOBILE TRADE [eseess o= High Low. Divigend Rate. 00. Low. Close. Chee | 24 11 Domn Stores (1.20).. 2 itry, Turkeys, young for Sul 4% “5% Abitibl Pwr & Paper i and hens, 22a28; old foms, 20; old becription Local Utility Concern Files Report Covering First 10 %~ 'Months of Year. BY EDWARD C. STONE. Substantial net profits of §246,504.36 are revealed in the financial statement # of the Washington Gas Light Co. for the first 10 months of the present year, fled today with the Public Utllities Commission. Operating revenue for the 10-month period amounted to $4,898,177.22, against $4,577,131.95 in the like period a year ago. Operating expenses, un- collectible bills and taxes totaled $3.- 322,101.09, compared with $3,319,809.91 a year ago, leaving a total operating income of $1576,076.13 in comparison with $1,257,322.04 in 1930 Non-operating income totaled $14.- 58589, against $21727.56 last year, while gross income stood at $1.590.- 601,52, compared with $1279,049.60 in the same 10 months in 1930. Total deductions this year called for $677,306.06, compared with $612,198.50 last year, leaving a total net income of $013.355.46_in comparison with $666,- 851.10 in the like period & year ago. October Gas Report Also Filed. The Washington Gas Light Co. has also filed its report for October, which also shows & good gain in earnings. Operating revenues were $475692.05, against $495,934.11 a year ago. = |~ ‘Operating expenses, uncollectible bills and taxes required $341.245.07. against $383,681.19 in October, 1930, leaving an operating income of $134446.98, com- pared with $112,252.92 a year ago Gross corporate income totaled $140.~ $70.29, compared with $115,547.87 last year, leaving a net income for the month, after all the usual deductions, amounting to $71,237, against the com- parable figure last year of $54,028.41, an, improvement of $17,208.59. Georgetown Gas Report Made. Another important report filed today with the Public 'Utilities Commission was presented by the Georgetown Gas Light Co., covering October and the year to date. In October the George- town company had operating revenues of $104,801.84 against $84,435.04 a year 2go. Operating expenses and taxes totaled $86,048.58, compared with $76,196.53 last year in October. ~Operating in- come amounted to $17,853.26 against $8,238.51 a year ago. After Meflum;mmme n; co‘?- re] a ni icome for e Tonth of $14,90342, compared with $4,650.32, or more than three times the earnings of the same month in 1930. 68 14 Abitibi Pwr&Pap pf. Adams Express (1).. Addressograph (1). Adv Rumley. Affiliated Prod 1.60 Air Reduction(t434). Alaska Juneau (40c) Cp Allied Ch&Dye (n6). Allis-Chalmers (1).. Alpha Port Cemt (1) Amerada Corp (2)... 17% Am Bank Note (13 20% Am Brake Shoe(2. 80 0. Am Brake Sh pf (7). 718% Am Can Co (15)..... 9 40 41 1321 Am Can Co of (7). Am Car & Fary (1).. Am Car & Fdy pf (7) Am Chain pf (7). 31% Am Chicle (3).. 5 9 Am Comcl Alcohol. .. Am European Secur. 108 Am & For Pow .. 45% Am & For Pwr pf(7). 23 a7 Am & For Pwr 2d pf. Am Homs Prod 4815 Am Ice pf (8). 6 8 Am Internation Am Locomotive (1). Am Lc'motive pf (7) Am Mch & Fdy 1.40.. Am Metal Co . Am Metals pf. 141 Am Pwr & Lt (11)... 58 49 .4 2 10 27 .Am Pwr & Lt of (6).. Am P&Lt pf A st(5). Am Radiator (§0¢) Am Safety Razor (5) 19% Am Smltg&Ref (13%) 9815 Am Sm & Ref pf (T). 28 1 Am Snuft (13%).. Am Solv & Chem nf., 7% Am Steel Foundry 36 Am Stores (12%). Ref (5)... 4% Am Tobacco B (16) .. 75 Am Type Fy pf (7).. 28314 Am Water Wks (3).. T4% Am Wat W 1st pf($) 3% 'Am Woolen Co...... 20 3 Am Woolen Co pf. .. Am Writ Paper pf... 2% Am Zinc & Lead. 12% Anaconda Copper. 11 13 8 20 1 [3 Anaconda Wire & C.. Anchor Cap ( Archer-Dapiels (1).. Armour of Del pf (7) Armour of I11 (A)... Armour of I pf..... 814 Arnold Constable 9% Art Metal (80c). 215 Associated Apparel. 9% Associated Dry G(1) 91 Associated OIl 94% Atch To&S Fe 86% Atch To&S Fe pf (6 43 Atl Coast Line (4). 10% Atl Gulf&West Ind.. 16 Atl Gulf&W I pf (5) 914 Atiuntio Refining (1) 77% Atlas Powder pf (6 3 ranananBesedene Sau® 2253 - o EETTS-T ST P ) 28~ fe(t1%) 21% 10 Doug Alrcra % 1 hens, 1982 78% 42% Drug Corp (4).. 10° 53% Dupont de Nem (4 124% 105__Du Pont de N pf: o3 714 Eaton Axle & Spr(1) 3514 Ejtington-Schild pt Fed Lt & Trac pf (6) Fed Water Service A Federal Screw Wks Fed Dept Strs (25c). Fid Ph Fire In(2.60). Firestone T & R (1). Firestone T&R pf(§) First Natl Strs (2%) Fisk Rubber. s Fisk Rubber 1st pf.. Follonsbee Bros. ... Foster-Wheeler Fourth Nat Inv 5 Fox Film (A), 13 _Freeport-Tex 205 Gamewell Co (3)... % Gardner Motor. 2'4 Gen Am Investors 38'4 Gen Am Tank Car(4) 9% Gen Asphalt (2).... 31 Gen Outdoor Adv. 4% Gen Public Service. . 22% Gen Ry Signal (5)... 1% Gen Realty & Utl... 1% Gen Theatre Equip. . 914 Glllette SBaf Rasor. 45% Glllette Saf R pf (5). 16 Goodyear T&R (3). 574 Goodyear 1st pf (7).. 8% Gotham Silk Hoslery 14% Granite City Steel(2) 25% Grant (WT) (1)...0 20 Great Northn pf(4) . 12 Great Northn Ore(2) 5% Great Western Sug. . 0+ L EFESE SEEFE EX L+t £& Unfavorable Business Re- ports Result in Selling of Pivotal Issues. BY GEORGE T. HUGHES. Spectal Dispatch to The Star. NEW YORK, November 25.—Once more the stock market reversed itself today, canceling all of Tuesday's gains and extending the main decline for many issues into new low territory. ‘The outside news was most unfavor- able. Car loadings for the week ending November 24 were down 26,663 cars from the week before, a greater than seasonal decline. October earnings statements. coming to hand made the usual poor comparison with those of a year ago. Although the income ac- counts in 1930 at this time were rap- idly decreasing, the percentage of de- crease month by month shows little im- provement. Steel Operations. Steel operations were back where they were two weeks ago, namely, at 29 per cent of capacity, and there was no com- fort to be had from that source. The commodity markets started in lower with stocks, and that had a depressing influence. As usual, the rails led the downward movement. Pennsylvania at $25 a share was selling at the lowest since 1877. New lows for the bear market were made by most of the active issues, including Atchison, Union Pacific Balti- more & Ohio and New York Central. ‘These new lows come with such mo- notonous regularity that it is hardly necessary to catalogue them. Pressure was directed against the public utilities, especially the commu- nications shares. ~International Tele- phone made & new low and American Telephone had ylelded 4 points by noon. U. S. Steel was the most con- spicuously weak industrial, also in new low ound. Substantial losses were recorded by Allied Chemical, American Can, Eastman Kodak and J. I. Case. Westinghouse Electric made a new low early in the day. The report that the directors were to meet for dividend action today, however, was an error. ‘The meeting will not be held. until sometime next month. Amerigan Loco- motive omitted the common dividend due at this time, but that had been ex- pected. Directors of the Superheater Corporation put its common stock on a ul;nnull basis against $2.50 previously paid. = Trading Quiet. Although & very weak-looking affair, the market was quiet and orderly, and operations were almost exclusively for professional account. The declines were the result rather of a lack of buying in- terest than of any great increase in of- chickens, 3 pounds and over, 18a20; 2 to 2!, pounds, -0a22; Spring broflers, 23; hens, large, 18a: 15a17; Leghorn hens, 13al5; ;ouwu. 10a12; keats, young, 40a45; old, 5835, Poultry, dressed—Turkeys, young hens and toms, 34a37; old toms, 27a29; old hens, 30a32; chickens, 3 pounds and over, 21a23; 2 to 2'; pounds, 23a2 Spring broilers, 30; hens, large, 21a23; small, 18a20; Leghorn hens, 16al rooszl:u, 13a15; Long Island ducks, ts—Beef, prime, 16; choice, 15a ] 9: 3 ., 3; lamb, top, 15; fair, 13a14; pork loins, 8 to 10 pounds, 12a12!3; 10 to 12 pounds, 11; 12 to 15 pounds, 10; fresh hams, 14a15; smoked hams, 19a20; strip bacon, 19a20; lard, 50-pound tins, 9; package, 10; com- pound, 7a7%. Live stock—Hogs, heavy, 4.25a4.7 light and medium, 4.25a5.00; pigs, 4.50a 5.00; roughs, 2!:a3l3; calves, lambs, 3'4a6.00. Florida, 3.25a3.7! 4.50a I 50; pears, 2.75a3.00; pineapples, 3.00a .50, bananas, 2.50a3.00. Vegetables — Potatoes, Maine, 100- poynd sacks, 1.25; New York, 150-pound Idaho bakers, 100-pound sweets, per bushel, 50a7: string beans, .. eggplant, 3.0023.50; kale, 50 broccoli, 3.75a4.0 3.50a4.00; New York, 50; cucumbers, 5.00; celery, crates, 2.00a2.50; bunches, 75, tomatces, 3-pan crates, repacks, 225; California lugs, 3.00; peppers, 2.75a3.00; carrots, per 100 bunches, 4.00; crates, 3.50a4.00; beets, per 100 bunches, 4.00; mushrooms, 75a1.00; as- paragus, 5.75; turnips, per bushel, 50; peas, 3.50a375; salsify, per dozen bunches, 75. . RPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, November 25.—The fol- lowing is a summary of important cor- poration news prepared by the Stand- ard Statistics Co., Inc., New York, for the Associated Press. News Trend. Daily average crude-oil production for the week ended November 21 was 2,453,- 400 barrels, a decline of 10,650 barrels Stocks in Dealers’ Hands Reported Lowest in Many Years. BY CHAS. P. SHAEFFER, Associated Press Business Writer. ‘The immediate future for the auto- mobile industry is expected by the trade to be distinctly brighter. Stocks of automobiles on dealers’ hands are said to be the lowest in many years, due to strict adherence of the industry to manufacturing only enough cars to meet actual demands. Replace- ment demand, it is said, after two years of reduced buying, in ftself, for a great number of ct Trade and industry are expected to be benefited more than ordinarily dur- ing the next few months when the mlo- tor industry makes its effort to close the existing gap between dealers and consumers through the medium of in- creased production. Altogether, though, latest estimates by trade bodies and Government agen- cles indicate this year's production of automobiles will not exceed 2,500,000 ug;u, the smallest of any year since 1 October’s output has not yet been officially announced, but is understood to show the effects of the curtailment that took place within the industry, due to pared schedules and the preparation being put on next year’s models. The trade expects the month of No- vember to show an expansion in produc- tion efforts, in order to meet demands for the annual automobile shows in January. Dealers will be supplied with the latest types, and production for this pwpose is expected to maintain output at a high level for several weeks. U. 8. TREASURY BALANCE. By the Associated Press. ‘Treasury receipts for, November 23 were $66,038,642.22; expenditures, $60,- 220,636.49; balance, $172,789,577.24. Cus- toms duties for 23 days of November were $22,090,487.05. Bank Rate Reduced. FREE CITY OF DANZIG, November 25 (#)—The Bank of Danzig has re- duced its bank rate today from 6 per cent to 5 per cent. ° : Money to Loan Seeured by deed of trast on real estate. it and commission. Joseph 1. Weller a7 ' &% REAL ESTATE LOANS Made at Low Interest Rates 59 INTEREST PAID ON STOCK James E Connelly, James F. Shea. President Secretary First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. Fw't L Moringe SeCUrities A Profitable Investment —secured by di- YIELD rect First Mort- gage on properties here in the Na- tion's Capital. 0 Let us send you a list of our current offerings. Denominations as low as $100 Monthly Payments if Desis send"for Bookiet, " The Huccers branw REALESTATE MORTGAGE & GUARANTY CORPDRATION 1610 K St. N.W. National 1403 $10,000 Estate Created Immediately By Depositing $21 Monthly (Age 35) At Age 60 You receive $6,269 Cash or $10,000 Paid-up Contract Smaller or larger amounts for proportionate deposits. Send Date of Birth for Illustration M. LEROY GOFF Woodward Building Nat. 0340 from the 2,464,050 berrels reported for :f.g:f;".f;'slg ";’.::"cym'{,“ wll& ;lm:d::s the previous week, according to the TYLER & RUTHERF ORD mand. American Petroleum Institute. The [ S R SR most important change during the week was the 40,000-barrel decrease in East CORNER IN WHEAT | Sloh.iigoe taree, incresse I Okt Georgetown's 10-Month Showing. 295'5 84% Auburn Auto (£4). 09 10415 —4 In the first 10 months of 1931 the 6 2% Aviation Corp (Del 3+ % Ml’;: g:"‘l:b?'éf:‘lop'f'(”. Georgetown Gas Co. had operating rev- | “57:,™ 5a Baldwin Locomotiv. 6~ e i NG Rrno e :x“:; :1':;““;:5“5"5““;7'975;35 :&' com- | 1041 20% Baldwin Loeo pt (1 % 28%—11%| 37% 6 Gulf States Steel. A .97 & y 0, Wi 87% 25% Balto & Ohio ¢) —_— Devating expenses, uncollected biils and | So7s 40 Balte & Ohio bf (4).. % 7% Hahn Dept ffores. taxes called for $836,079, against| 107 g8 Bamberger pf (8% ). §3% 254 Hahn Dot SUof(64) $680,962.10. 14'% 4% Barnsdan Corp'n.... o Operating income totaled $139.059.40, | 33 194 Bayuk Clgar (3). o% Hayes Boay Corp. while this figure last year in October | 90 . g6 ~ Bayuk Cig 18t pf (7). > 0 69" Helme (GW) (1T} stood at $174,142.78. This year the 10- | g1 = 37 Beatrice Cream (4).. 1 13, Hercules Mot (81c) month gross was also lower, being| gos, 621 Belg N Rpt pf t4.81. e e & $155,002.23, gross in the like period 3| 3251, 125 Bendix Aviation (1). s year ago amounting to $186,660.40. 261¢ 24% Best& Co (2). ... X Holland Furn (43X During the present year the company | 70w 22% Bethleham Steel (1). Hel Ll has paid out over $41,000 in bond in- | 43 20% 3ohn Alumn (13%)... o3, Houdailie Hershey terest, this amount being the same as $2 Househd Fin o in 1930. After all other deductions, the 4 u 3 Georgetown concern reported a total | 201 7] net income of $108,995.25, against $137- | 241, B Briggs&Stratton(2). 093.04 in the like 1930 period, a fallh 26 2% Broekwey Mot Tr pf off in earnings so far in 1931 of 69% 3114 Bklyn-Man Tran (4). - $28,097.79. 94% 674 Bklyn-Man Tr of (8) Atlanta Bank Charges Scored. 129% 80% Bkliyn Union Gas (5) - -3 Insurance Exclusively Over 20 Years T e OT B manste - S Texas output, which was partly offset ined 620,000 barrels to a total of 32, Reverne, Fight Toading in . oa Officials Believe Efforts to Force mm‘,’:é‘":".ha; (omellh oo : seasonal decrease. Actual loadings for Prices Upward Are Effectually |the week ended Novemhler 14, ;;fi:ru- : to the American Railway ute, Blocked by Action. mm led 690,366 cars, which compares with 717,629 cars in the preceding week and 829,023 cars in_the corresponding By the Associated Press. eek of last year. Live stock was the SANTIAGO, ' Chile, November 25.— lignly commodity to register an increase. 4 Efforts to prevent a corner in wheat in du income are offset —that's the dictating and Chile have been fairly successful, gov- The Companies. by a substantial savi i ernment_officials believe, but a thor-| Allied Chemical & Dye declared $1.75 account. You .may Mattingrost et o IS, ¢ My ough census of the quantity of native | quarterly preferred dividend; took no open an account with as difference in stationery cost is wheat on hand has been ordered. action on stock dividend on common little as $1. But e fradiied ab dosbat s INTEREST]| SYSTEMATIC SAVINGS Bring ‘Safety Erowmmemo - Twenty-One R Cents Each wRwn - 13% 3% Hupp Motors. FoS S o g Former employes of the SBouthern| 18 34 BrunswoBalkes Raiiway in this city, who are now work- ing in the Atlanta cffices, are com- laining over service charges which the ks in the Georgia city are now applying to customers. One employe ‘writes: A “Beginning this month, to assist Old Depression, the banks have levied a measured service charge on all check- ing accounts under $300. Balance un- der $100 cost the depositor $1 a month, as usual, and in addition 3 cents is charged for each check over 15 issued against the account during the period. An account with an average monthly balance of from $100 to $199 is charged 3 cents a check, but five free checks ‘will_be allowed. “Balances from $200 to $299 entitle the depositor to eight free checks, with 7% Bucyrus-Erie cv pf.. 2 21 Budd (E G) Mfg. Budd (EG) Mfg pf.. 4% Budd Wheel (1)...00 4 Bullard Co. . 32% 10 Burrough A M(t1 ) 15% Bush Terminal(2%). 52 Bush Term deb (7) % Butte & Superior. 4% Butterick Co. ... 114 45% 11 69%, 12% Byers (A M) Co. 1067 68 Byers (A M) pf (7) Canada Dry G A (3).. Canadian Pacific 1% . 17% Cannon Mills (1.60). aEfamarmaneS man . s - 5 9 Ind Motor Cycle pf.. 3814 Ingersoll Rand (4). 26 Inland Steel (2). % Inspiration Copper. . 7 Insur Sh(Del§t62%c Insur Sh(Md) (28¢) ., 7% Interboro Rap Trand 4 Interlake Iron . 7 Ipt Agriculture pf..s 92 Int Bus Machine(né) 31 Int Carriers,Ltd 60c. 17 IntCement (4)...... 3 Int Combustion..... 5% Int Combustion pt.., 2214 Int Harvester (23) . 112 Int Harvester pf (1), 10 Int Hydro E1A (e2). 19 . Int Match pf (4).... 3% (nt Merchant Marine 73 Int Nickel of Can 20¢ 90 Int Nick Can pf (7)., " Reports of a corner began shortly aiter wheat prices in Chicago picked up. No foreign wheat can get into Chile except by paying a prohibitive duty and the home crop is supplying domestic needs, so the government sees no reason why speculation should increase Chilean prices, no matter what happens to wheat abroad. Several new stipulations have been issued to regulate the price of wheat and other cereals, and strict orders have been issued that there must be no prof- iteering. Prices here run higher as a rule than in other markets of the world, fluctuating from 34 pesos (about $4.08) for 100 kilos up to 37 pesos (about $4.44). A heavy export bounty is paid to shippers. Predictions of the size of the next season’s crop are conflicing, but it is shares. - . . American Water Works & Electrie— October -electric output of subsidiaries off 10.7 per cent; 10 months off 8.9 per cent. ¥ Baldwin Locomotive Works passed semi-annual preferred dividend; paid $3.50 July 1. Chicago Great Western Railroad pre- ferred share earnings 10 months October 31, $1.85 vs. $2.44. Commonwealth & Southern October gross off 9.1 per cent; net after taxes, off 5 per cent. Erie Railroad October net operating income of system off 26.4 per cent; 10 _months off 26.5 per cent. Great Northern Rallway salaries of employes receiving over $300 a month reduced 10 to 20 per cent. Merchants & Manufacturers’ Securi- Open Daily, 9 to 5 Saturdays Until Noon NAtional 1381 PERMANENT] 949 NINTH 'ST., NW. UNOER SUPERVISION OF U.3 TRE: L It's good husiness, therefore, to use engraved stationery, originated for you by EISHTH P USPGE- JETONN- 0PN 3 cents for each additional «check, ex- 1520t Bapes @ Brr C. cept that if the charge amounts to less 5% Capital Admin (A) e than 15 cents it will be waived. Any| 131% 38% Case (JI) Co. et Sipse e debit to an account is considered a| 116 58 Case (JI) pf (7). ! b check.” 6214 11% :‘-urpxn-: 'll')r:sbm. ’ WL U Pennsy’s Report Out Today. it it bl + 10 ot m&l(s(;,s,m’_. The Pennsylvania Railroad today Te-| 16 4 Celanese COrp...... nterstate D8 pf(7). goflcd October gross revenues as $38,- | 25% 15 Cent Aguirre (1 15% Island Creek Coal(4) 06,879, against $50,949,539 in October | 3014 9% Cerro de Pasco (1) e e R avAlioi(8): of last year and $66,125,434 in October, 714 2% Certain-teed Prod s e o 1929. 28% 3% Checker Cab Mrfg. BT e e Net railway operating income in Oc-| 465 2313 Ches & Ohio (2%). S s s DantBtiatLS tober totaled $6,284,609, compared with | 54} . 14% Chesapeake Corn(3). S LR $9.912014 in the previous year and| 714 31 Chi Great W T o). $15,010,492 in October, 1929, freight Tev-| 2713 12 Chi Great Westn pf ok el i enues, of course, showing the most im-| 87 2 Chi Mil StP & Pac. 1% Keloey-Hayes Whest portant decrease. 15% 3% Chi M1l StP & Pac of. e b Gross revenues for the first 10 months | 45! 8% Chic & Northwstn. 3113 10% Kenneecott Copper(1) of the present year amounted to $385,- | 116 25 Chi & Northwestn pf e rsiteDit it 377,628, against $492,863,315 in the like 314 Chi Pneu Tool. .. Son I sty (10, period in 1930 and $588,475,059 in 1929. 12% Chicago R 1&Pacific. e Rkt einena Tt The Pennsylvania reported net rail- 18 ChiR1& Pacpf (6). Pt e ‘way operating income for the 10 months 211 Chi R | & Paepf (7). e et as $44,485,734, compared with $83,024,- Childs Company..... 874 40% Lambert Co (3).. 705 last year and $122,042518 in the Chrysler Corp (1 6% ‘ement.. comparable 10 months in 1929. City Ice&Fuel (3. Today's Trading on Exchange. ‘;'1:1‘! 2’;2;:! . Potomac Electric consolidated 5s sold | 170 9714 Cocoa-Cola (18). to the extent of $1,000 on the Wash-| 531 4915 Coca-Cola (A) (3)... ington Stock Exchange today at 102.| 5014 28 Colgate-Pal-P (234). Another bond sale was a $500 transfer | 104's §7% Colg-Palm-P pf (6).. in Georgetown Gas Co. 5s at 101. 17 7% Collins & Aikman. Twelve shares of Mergenthaler Lino- | 101 714 Colonial Beacon..... type appeared on the board at 62, same | 321, 81 Colo Fuel & Iron. as the last sale, which was also a very | 45% 16% ColumbG & E (1% small lot, there having been no im-| 1093 76 Col Gas&E) pf A (6. portant sales in this issue since the| 111% 33 Columb Carbon (4).. 10 annual report came out a few days ago.| 23% 8 Comm Credit (1.60).. 76% Lorrillard (P) pf (7) The day's final ale was in the un-| 92 56% Comcl Cred 1st(6%) Louisville & Nash(4) listed department, $100 Army and Navy| 251 15 ComclCred pf B (2). 2 2 teel Club 5s changing hands at 85. It was| 34 15% Comci Inv Trust (2) 2 McCall Corp (2%) announced by the board of governors| 8 4 Comcl Inv T war sta, 2 1 McCrory Strs A (2). ' that the exchange will be closed to-| 90 70 Comm Invcvpf(e). Melntyre Pore M(1) morrow, Thanksgiving day. 2114 9% Comel Solvents (1) MoKeesport T P (4) . Financial District Gleanings. “‘)5“ bosed ‘ég’:\‘;‘fi::si?’“’:‘:“’) Mcikesson & Rob (1). The Chesapeake & Ohio Railwey has | 'Jav 67 Congolm-Natrn (10 o g declared the regular quarterly dividend Tig € el gt of 622 cents on the common stock, | xArs (5). u:zyur:m&&’m y :::;P;'fi';“fl“ 1 to stock of record Consol Filun p (23, Madison Sa Card-’n.'. * " R .. agma Copper (1 The Chespeake Corporation has de- Consol Gas NY pf(8) el i believed there will be but a small por- | ties sells auto financing division to tion for export. - Commercial Investment Trust. AN O EAA S ARDNE AN T Organized 1879 52nd YEAR COMPLETED New York, Ontario & Western Oc- | S Weien o € Equitable Co-Operative Bldg. Ass'n . $27,551; 10 months, $1,583,408, vs. quftfinn‘glag::g:.E 2&?5:; ;:72{50 A onu adeiius i JOHN JOY EDSON, President WALTER S. PRATT, Jr.,, Secretary res ‘Uni Pacific Ral r — fating tncome of &) 334 Assets...........$6124,601.90 for today: $3,343,326.49. operating income of system off 33.4 Subscriptions for the 102nd Issue of Stock Being Received s oSm per cent; 10 months off 37.5 per cent. Virginian Railvay common s Brokers’ Comment e:rsnlmzs, 1_'n"monuu to October 31, $4.61 vs. $7.17. Anaconda Wire & Cable—Copper wire prices reduced to basis of 6% NEW YORK, November 25.—The cents a pound. stock market's recovery yesterday was E Consolidated Gas of New York sub- technical In charicter, brokerage house | giyiary reaches agreement for reduc- commentators poinited out today. Lithe (o, of electric rates in Westchester change in current market trends was| ng part of Bronx; to save consumers expec!e? gendln‘ removal of NUMETOUS | uey ‘1,000,000 annually. uncertainties. ralic i General Cable cuts price of bare cop- Shields & Co—Further pre-holiday shortcoverng ey sniend U zals per wire 1n carload lots to 8!2 cents a little, but in the absence of any impor- =i —Texarkana- tant bullish, feature ot much {UFEher | pors aonir wonanr fate reduced. 1o advance is to be expected. As fUrTies |15 conts & mile, it of this kind terminate without warning | ' ‘riGewater Oil-Salaried employes at ing hand to accumulate money. there is no reason for abandoning trad- | Bayonne refinery to receive pay cuts of ing policy we have advised. 5 per cent to 20 per cent. i Warner Co. passed quarterly common Hornblower & ~Weeks—There was | o it T, B ce, I Gotoer 15. 915 F ST nothing to indicate that the moderate | VHICHE: PE 25,0608 OTERC o oiing . rallying tendencies which developed yes- | oome up 208 per cent, 10 months, off i terday afternoon proceeded. {rom &ny- | 553" er'cent; reported negotiations for ||l A T = Save Systematically at the Equitable » Start now to provide for future suc- cess by saving systematically in .the Equitable. You'll find our plan a help- $2.50 IIIIIIIIIIIIIIIIIII"I&IIIH"" 2 5 34% 1814\ Lehn & Fink (3) 7 Libbey Owens Glass Liggett & Myers(15) Ligg & Myers B (15) Lima Locomot (m2). Liquid Carbonic (2) Loew's, Inc (14) Loew's Inc pf (6 2% Loft Inc 354 Loose-Wiles (13). Lorrillard (P) Co... A, =3 PITTSE - FEVE- SO P B T T L RO T 2y thing other than technical considera~ ZJie 3 barge service o B. F. M P Lane Bryant directors’ meeting post- | = - Jackson Bros, Boesel & Co.—Con-|Poned to December 10; were to act on == = centrated short covering is not apt to | common dividend. el ‘coingn AFE FIRST appear unless general fears of railroad | , Maine Cenmll Ra rg: I omnen insolvency are dissipated. Wall Street is | ShATe. earnings, ‘;J LAl anxiously awaiting the formation of a|3185 FeCts A% RIS, oo share ::5;’1:: f:rg’l;..dp.o‘«:lu;flm.memw e elrn‘l{:gas, year ended September 30, $1.44 vs. $1.46. Thomson & McKinnon—Further im-| Armstrong Cork, passed quarterly provement in cotton, wheat and silver [ common dividend; paid 25 cents Octo- Would have & cheering effect upon senti- | ber 1; expects final half loss to offset - | first half net profit of $879,047. {l;lle!l;ltr;fi;i could contribute to some fur- N s Boutirn coninoR —— | share earnings, 12 months to October Baar, Cohen & Co.—All spectacular | 31, 43 cents v&. 63 cents. rallies in the past have been followed | New York, New Haven & Hartford - * MORTGAGES APPROVED BY THE CRITICAL Those who hold the most con- servative ideas on the subject of in- 11+t EESFEE - clared the regular quarterly dividend of 75 cents. payable January 1 to stock of record December 8 The Norfolk & Western _earned $1232 on common in the first 10 months of 1931, against $18.50 a ar ago. October ~met was $2,487,296, against $2,930422 a year ago. Reichsbank Coverage Rises. BERLIN, November 25 (#).—The gold coverage of the Reichsbank rose last ‘week from 26.7 to 27.5 as a result of a reduction in the volume of note cir- culation by 176,268,000 marks, although the actual amount of gold dropped 29,457,000 marks while foreign exchange ‘was 15,743,000 marks higher. ‘The Reichsbank’s holdings of bills of exchange dropped 126,373,000. lu;ck Increase Planned. NEW YORK, November 25 (@) — Atias Utilities Corporation stockhold- ‘ers will_hold a special meeting De- cember 8 at Wilmington, Del, to vote to increase authorized on a wl stock to 10,000,000 shares from ,000. AL TARER U [ SILVER QUOTATIONS. N, November 25 (A).—Bar ver easy and % lower at 18% per 86% 36% Corn Products (3).. Consol Laundries(1) '« Consol Textll; Contl Baking (A). Contl Baking (B). Contl Contl € Cont Diamond Fibre. Con’ Insur (2.40)... 3% Coty Inc... 19% 10% Crex Carpet. . 15's Crown Cork (2.40) 24 2 4 Crown Cork pf (2.70) Crown Zellerback. .. Cushmans pf (7) Cushmans pf (8).... Curtis Publish (4) Davison Chemi: 13% Deere & Co pf (1.40). 1574 83% Delaware & Hud (9). 26 Del Lack & Wn (2).. 112 Detroit Edison (8 19% 11 23 12% Diamond Match (1). 28% 22% Diamond Mteh pf 1% Devoe & Ray A o o o2afrnalanvenninmpmnana ® 3 R 1 -JPUROS U U3 JOINE - SPNvTTe: Maracaibo Oil Exp. . Marine Midld (1.20). Marlin-Rockwell (2) Marshall Field (23) Mathieson Alkili (2) May Dept Strs (2%) Maytag Co Melville Shoe (2). Mid Continent Petm. Midland Steel (3)... Midland Steel pf (8). Missourt Pacific Missouri Pac pf Mohawk Carpet. Monsanto Chem (1% 4 Montgomery Ward. . Morrell (J) & Co (3) Morris & Essex(3%) 8% Mull 22 Mulll T 40% 15% % 143 441 14% NatPwr& Lt (1)... teel (2) 115 Nat Bella Hess. ... 9 at Bella Hess pf. .. 37% Nat Biscuit (2.80) 15 NatCash Reg A 1 20% Nat Dary (2.60). 81¢'Nat Dept Strs 1st pf. 19% Nat Dist I'To6 (2)... 7% Nat Enam & Stam| 130 Nat Lead pf A (1) 18% Nap - & 9 PYL - U VY ST PTSPRIRY SO Iy CRRT S SN PRS-~ BTOT IR RE SR F§ FPEFEIEE §F @ lnunaaa®ame L by disheartening declines. We never yet have turned from a bear market into a bull market in such a manner as to make it apparent to every one that the transformation was taking place, and | in the past we never knew that the bear market was over and a bull market be- ginning until after stocks were well on their upswing, so that any slow turning movement should be viewed with greater confidence than spectacular rallies. Paine, Webber & Co.—Yesterday's small upturn, principally in industrial shares, and accompanying small volume of turnover and action of rail- road stocks, is not interpreted as mark- ing the end of the recent declining phase of the market. Liquidation in volume has not yet made its appear- ance, nor have the rail shares given signs of a reversal of trend. Under cir- cumstances, as we view them, the main trend is still downward. Frazier, Jelke & Co.—It now aj TS that the principal hope for early im-|¢ provement in prices must originate in the technical position of the list and i the posibility of a better tone in l!w.\-l modity prices, Redmond & Co.—Until some of the current uncertainties are cleared up, we Railroad common share earnings, 10 months to October 31, $2.64, vs. $5.87. United Rallways & Electric of Balti- more_deficit, 10 months to October 31 $568,132, vs. net income $354,773, equ: to 87 cents a common share. Eastern Utilities Associates October gross off 1.3 per cent, net operating Tevenue off 4.9 per cent; 12 months gross up 0.4 per cent, net operating rev- enue up 8.5 per cent. Boston & Maine Railroad combined first preferred share earnings, 10 months to_October 31, $4.81, vs. $9.09. Houdaille Hershey class B share earn- lnn‘.' 9 months to September 30, 22 cents. NEW YORK BANK STOCKS NEW YORK, November 25 (#)— Qver-the-counter market. Chase nat_ Pherfx ! Commercial Ngtl First Natl N ¥ Eipaide Public .. | Bankers Brooklyn ' Cent Hanover, Chem Bk & k& ixeh . vestment, readily agree that our 6% FIRST MORTGAGES are sound—in that they are secured Over a Third of a Century Without a Loss May he by conservatively appraised. im- proved Washington real estate; and attractive because they pay this generous interest , throughout the term of the mortgage. purchased in amounts from $250 up. : = . National 2100 SAUL CO. 925 ‘15th St. N.W. THERE 1S NO SUBSTITUTE , FOR SAFETY YT BTN TR T