Evening Star Newspaper, December 29, 1931, Page 13

FINANCIAL., THE EVENING WL R &ENETPROFT INCREASE IG5 Report of 11 Months Filed <. With Public Utilities Commission. BY EDWARD C. STONE. For the first 11 mo 1931 the Washington Railway & Electric Co. earned a total net income of $1.987.- 684.17, compared with $1,821,008.02, nn‘ increase of $166,676.15 | According to the financial statement just filed with the Public Utilities Com- mission, operating revenues for the 11 months were $4,340,250.43, against | $4,517,616.36 in the like period a year | ago. Operating expenses and taxes re- quired $3,575,917.80, in comparison with $3.750,633.51 a year ago, leaving an op- erating income of $764,341.62, compared with $766,982.85 in 1930. Non-operating income amounted (0 $1,819,854.97, against the lower figure Jast year of $1,671,086.22. Gross income, Jess expenses and taxes, totaled $2,584.- 196,59, in comparison with $2,438,069.07 Deductions from gross called for $596,- ths of | | | 512.42 against larger deductions a year ago of $617,061.05. Substracting this| amount from gross earnings left the| above stated substantial gain in net profits. W. R. & E. November Earnings. The railway and electric company had | a substantial gain in net earnings for | November, this report also being filed | with the commission. Operating rev. enues in November totaled $36: 862 against $418,300 07 in the like month a year ago. Operating expenses and taxes were lower in November, 1931 being $304,479.45 against $360,138.75 i This deduction left an operating in- | come amounting to $58,383.50, against | $58,161.32 in November, 1930. Non- ondating revenues were $414.494.34, compared with $381,032.71 in Novem- ber, 1930, while deductions called for $53520.66, against $5494430 a year | 0. | After all the usual adjustments the | street car company reported a net in- come for November of $419.357.18, in comparison with $384,249.73 in Novem- ber, 1930, or & gain of $35,108 45. Company Plans to Dissolve. Directors of the Columbia Sand & | Gravel Co. will hold a special meeting in Alexandria on January 8 for the purpose of censidering dissolving the company. The notice states that the | holders of the preferred stock are to be | paid in full at par for their stock and are-to receive any back dividends in fuf “before the hoiders of the common | stack are. to be paid. The notice also stfles that the company has sufficient | assets to meet ail required payments | the preferred stock. he Columbia Sand & Gravel Co.| was formerly the Columbia Granite & | Drbdging Corporation and has been en in dredging gravel and sand and keting the same in Washington and ity. The company has valuable | prgperty up the Potomec and also gets | a great deal of its preduct down river. lyde B. Asher was formerly presi- domt and several local bankers were | ménbars of the board. Last Februar th€ company was bought by the Arun Carporation of Baltimore for the Siffoot gravel interests in this city 1.oE. Smoot is now president of the| Cojumbia company and Thomas A.| Bt, secretary and treasurer e Columbia plant is_located on K stfpet, in Georgetown, mext to the | Smoot. Sand & Gravel Oo. In the fu-| “:E the two will presumably be oper- B m| Vi a as one plant. Both do a ver) lamge business. Insurance Held Good Omen. $sing = conservative estimate for qumbfl', sales of life insurance during 1 fo 1 will average about $300,000000 every working day, says the Life rance Sales Research Bureau. Peak lqfi in sales was 1929. though average figures for 1931 are befpw those of last year, the trend dur- ing the past few months has been very entouraging, the buresu reports. When th§ experience for the current month is @etter than the averege experience of prficeding months, the indication is that business is improving. Sales in thg Upited States es a whole for the Airl 10 months of 1931 were 15 per cent below 1930 for the like period, while salg in November of this year showed rease of only 4 per cent when com- paped to November, 1930 ince life insurance is an excellent reflector of general economic conditions th# improvement in life insurance sales indicates better business condi- tioms,” says the report fWould Expand Reserve Credit. nless the credit of the Federal Rejerve banks is expanded, the new | Fiaence Reconstruction Corporation will be doomed to failure.” This statement was made by Dr Lignel F. Edie, monetary authority and former professor of finance at Chicago Ufiversity, at a luncheon given yester- dad in the Hotel Mayflower by Edward L. aBernays, public Telations counselor of g: be ew York. Edie urged that immediate steps aken to expand this credit. “The Felleral Reserve System and banks hase been contracting credit at the rate of Sbout 22 per cent per annum,” he said. “If this deflation continues. there will be no credit. To pour credit into | thé economic structure with a recon- strliction corporation on one hand. and to #ull it out by the Federal Reserve onghe other, is a futile procedure vitdates itself.” f there is to be a stop 1o this dis: troms deflation, it must be throug! wogking hand in hand of the Federal Referve System and the Governien agencies for financial relief and credit | exfansion.” % Trading on D. C. Exchange. | Washington Gas 6s, series A, opened the Washington Stock Exchange today | wih a §1,000 sale at 100. Later $1,000 Washington Gas Light 5s sold at 10014, them closing with another sale at | thd samg figure 1 @apital Traction stock figured in the salj of a 20-share lot and a 30-share| Io 8',, ex dividend | tomac ctric Power 5'; per cent prdferred moved 102%, and eight shares of Federal Storage preferred | ch§nged hands at 100 + Offering Is Oversubscribed. KActing Secretary Mills of the Treas- urw reports that applications totali 819,072,000 were received for the ten- dem of $100,000,000 y Treasury | b‘.% dated Decembe: 30, e highest bid m equvalent to &N ANNUS lbin 1.78 per cent, and the scaepted was 99.077. The of Pids accepted was $101,332,090 | 3 Building Goes Up At Auction | !\-u announced today that the Ge- | culties Building, located at 729 Fif- tee@th street, will be sold at auction late | thig week. 'The washington office of g;gxm:v:’& Co. of which G. Bowle man is resident partner, has been sitmated in this bultdnmg ever since it wad completed. The sale will not inter- feré with the brokerage house in any | wa§. Frank P. Morse has also been thes manager of an nvestment house in | building for i wil remain thahigh he expa A o an no@ncement soon regarding a new busi- | L\:‘- affliation which he is now perfect- ral west bid tal amount at 1] -t T " !‘REASUBY CERTIFICATES. orted by J. & W. S:l Ju l‘l l\l;n\y‘ B Bhumbn 35 3 8~p¢ 15, 1932 | 304 Dec. 15, 1982 33 9 12-3; 8 12-32 Stock High 14% 52 39 2315 2 2315 1% 100 795 10% 61 102 84 £5 2114 150 12% i 9 1% 42 5814 102% 13815 424 4% 1% 31% 4814 60 108'4 181 116 16 463 54 2 16% 1 s 116 15% 654 90 101 12 90 4% 22% 244 105 170 53% 50% 1045 10 23% 357 257 92 25'% 24 NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Sates— Add 00 1508 108 Stock and Dividend Rate Consol Cgr pr vf 6% Con Crr pr pf xw 6% Consol Cigars pt (7). 30s Consol Film 4 Consol Film pf (3) 1 Consol GasN Y (4).. 215 Consal Gas NY pf () Consol Laundries(1) ConsoiRwys pf (8).. Consol Textile. .. Container Corp (A). Contatner Corp (B). Contl Baking (A) Contl Baking (B) Contl Baking pf (8). Contl Can (2%).. Cont Diamond Fibr. Con* Insur (2.40) Contl Motors Contl Oi1 (Del). . ' Cont] Shares. ... Corn Products (3). Cotydneioi.uos.. Croamof Wht(1214) Crosley Radlo Crown Zellerback. Crucible Steel. . L Crucible Steel pf (1) 2008 Cuba Cane Products. 5 CubaCol... .. 10 Cuba RR pf (6)... 108 Cuban-Am Sugarpt. 408 Cudahy Packing (4). 3 Curtis Publish (4).. 6 Curtis Publish pf (1)1257x Curtiss Wright. . 62 Curtis Wright (A).. 1650s Am Encaustic Tiling Cushmans pf (3).... 208 Am European Secur. 1214x Cutler Hamm 9 Am & For Power.... 20 e T 1 Am & For Pwr pf(§) Debenhams Security 3 Am & For Pwr pf(1) Deere & Co pf (140), 1 Am & For Bwnid nt. Delaware & Hud (3). 15 AnyHewSliahlp (1) Del Lack & Wn 12)..1850s Am Tloma Prod 4.20. DhpTerARGIWL . 3 AmTos (3) Detroit Edison (8). Amloapiie) = Diamond Mateh (1) . Am International. .. Diamond Mtch pf 1% Am Ta Fr&Foam f. Dome Mines (1)... Am Locomotive. ... Dominion Stores 1% ey Doug A!rrr:f[l';‘l: =t Dresser Mfg A (3% An Uari® M Dresser Mfg B (2) Sane 0 Drug Corp (4). e \,.mm"‘G;wé:' Dunhill Internatl Am Pwr & Lt (11).. Duplan SipeL) Am Pwr & Lt of (6). Am Pwr&Lt pf A(4) Am P&L! 0f A 5t(5). Am Radiator (60¢). . Am Radiator pf (T). 108 Am Republics. . . 1 Am Rolling Mill 47 Am Safety Razor 2 Am Seating. .. 1 Am Ship & Com..... 20 Am Shipbullding (5) 10s Am Smite&Ref (1%) Am Sm&R 2d pf(6). Am Sm & Ref pf (1). Am Snuff (t3%).... Am Solv & Chemical. Am Solv & Chem nf. Am Steel Foundry Atn Stores (12%)... Am Sugar Ref (5)... Am Sugar Ref pf (1) Am Tel & Telex (3).. Am Tobaeco (16). Am Tobacco B (16). Am Tobaeco pf () Am Water Wks (1), Am Wat W 18t pf (6) Am Woolen Co. . « Am Woolen Co pt. Am Writ Paper pf. Am Zinc & l.ead. Am Zinc & Lead of .. Anaconda Copoer. Anchor Cap (2.40)... Andes Copper. . Archer-Dantels (1).. Armour of Del pf (1) Armour of Il (A)... Armour of Ill (B)... Armour of 1l pf. Associated Apparel. Associated Dry G(1) Atch To&S Fe (10). . Atch To&S Fe pf (5). Atl Coast Line (4).. Al Gult& West Ind.. At] Gulf&W 1 pf (5). Atlantic Refining (1) Atlas Powder (4). Atlas Stores (1). Aubnrn Anto (f4) ... Austin Nichols A 1% Autosales. ......... Autosales pf..... Aviation Corp (Del 4% Baldwin Locomotive 15 Baldwin Loco pt.... 14 Baltimore & Ohlo. ... 25 Balto & Ohio pf (4). 18 Bang & Aroos (3%). 1% Barker Bros Tl Barnet Leather pf. 4 Barnsdall Corp'n. ... 62 Bayuk Cig 18t pf (1) 37 Beatrice Cream (4).. Beech-Nut Pkg (3).. Belding-Hemingway Belg N R pt pf t4.81. Bendix Aviation (1). Best & Co (2) Bethlehsm St Bethlehem Stl pf (T) Blaw Knox (50¢).... loomingdale Bros. . John Alumn (1%) Borden Co (3).. Bore Warner (1). Bripgs Mfg (1). Brigks& 83— High. Low. 73 42 70 434 80 b1 15 3% 18% % 109% 574 107 88 15% 8% 424 94 % % " 4 % 1o 100 Stock and Dividend Rate Add 00. Righ. Low. Close. Chse. Abitibl Pwr & Paper 2 2% 24 24 Abitibi Pow & Papf. 3 5 -% Abraham&Straus 14 3 19 31 Adams FExpress 60 W - % Adams Exp pf (5). 60 +9% Addressograph (1). 10% — % Adv Rumley 2% Affiliated Prod 1.60. . 12% — % Afr Redueiton(t414) 50% 215 A'rway Flec Apn! M- % Alaska Juneau (50¢) 131 + % Albany Wrap Paper. s +y Allezany Corp.... « Alleg Cp pf $30 ww Alleg Cp pf w $40 w. Alleg Cppf x 330 w.. Allesheny Stee 60c. Allled Chemical (6). Allied Ch&Dye pf(7) Allis-Chalmers (1).. Alpha Port Cemt (1) Amal Leather pf.,.. Amerada Corp (2).. Am Agri Chem(Del) Am Bank Note (2). Am Bank Note pf (3) Am Beet Sugar. Am Pent Snear nf Amer Br Shoa (1.60). Am Cen Co (15) Am Can Co nf (1) Am Car & Foundry. . Am Car & Fdy pf (1) AmChain.......... Am Chicle (t3)..... Am Comel Alcohol . High Low. 48 45 42% 85 4u% 91y 61 89% 9% 10 Lo B4 4 o 58 5% 20 4 60 10 18 % 40 - % 0% 315 184 L4141+ Wl Nenen i ] 3 13% 67 20 1 13 23 T 14 T 20% 11 50 2 10 528 96% 2% 7% 112 > NXE AW BELAR M A~ Du Pont de N pf(6) tern Roll Mill tman Kodsk (18) Eastman Kod pf (6). 4 Eaton Axle & Sor(1) Eitington-Schild. Eitington-Schild pf lec Auto Lite (4). ectric Boat Elec&Musical Instru5820; Flec Pwr& Lt (1)... 7 Elec Pwr & Lt pf(6). Elec Pwr&Lt pt (7). F'ec Storage Bat (4) Emporium Capwell. Endicott-Johnscn(3) Eng Pub Sve (1.60).. Eng Pub SVe nf (5). Fng P S of ww (514) Eaquit Office Bldg 2% Frie RR ... Erie RR1stpf..... Fureka Vac Cleaner. Evans Auto Prod. ... Exchange Ruffet (1), Fashion Park Asso Fashion Park As pf.. Fed Lt & Tr (£1%).. Fed Mines & Smelt. . Fed Mot Truck(20c). Federal Screw Wks. Fed Water Service A 9 Fed Dept Stores (1). 12255 Fid Ph Fire In(260). 17 Filene's Sons pf 63%.. 20s Firestone T & R (1) Firestone T&R pf (6) First Natl Strs (2%) Fisk Rubber. ..... Fisk Rubber 3 Fisk Rub 1st pf con Follonsbee Bros. ... 9% Food Machine B Foster- Wheeler 15% Fourth Nat Inv (1.1 25 Fox Fim (A). Frespor: Gabriel Co (A). Ga—ewell Co (3 Gen Am Investors Gen Am Tank Car(4) Gen Asphalt (2).... Gen Baking (2). Gen Baking pf (8). 2 135 2 21% 11 69 Tdm 4% 94 60% 98 » o ) [PYSYOR - TOP) - IOTOUTIeS PR - 4 Y 91 35% 393 45 12% 34 S 114 25 10 6% 1 24 47 49% 15% 80 20 7% 2 15% 1% 30 3u 274 11 56% 20 104 85% 21% 12% 6614 46% 63 41 % % R “ 4 » 3 9 w3 23 P 8 PLPIOIL TR =58 3 34 19% 31% 6415 32y 38% 43% 1 6% 1 60 15 T 2% 734 28 47 9% 25% 9% 114 95 % 1% 13 1% 2514 2% 65 11 4815 25 543 227 124 10% 56 284 1u 90s 5 10 127 4 Gen Cable. ... Gen Cable (A)... Gen Cable pf Gen Cigar (4). Gen Electric (1.60) Gen Elec spec (80c). Gen Food Corp (3).. 30 Gen Gas&El A(e30c) 1917s Gen Gas&E cv f (6) 6 Gen [tal Ed El m2.61 1 Gen Mills (3). 4 Gen Motors (3).....43344s Gen Motors pf (5). 2 Gen Outdoor Adv. .. 5 Gen Printing Ink(2). 100s Gen Prtg Ink vf (6).. 508 ien Public Servies 13 n Ry Signal (5). 20 n Realty & Utl. 16 n Realty & Utll pf 6 Gen Refractories (1) 4 Gen Steel Casting pf. 20a Gen Theatre Equip. lette Saf Razor. .. liatte Saf R pf (5) iimhel Bros. .. nbel Bros pf illdden Co. .. Gobel (Adolf) 1038 10% 31 76 23 841a 93 T4l 7% 12 65 14 16ty s 384 9l 76 45 52 16'% 9T 424 20% 68 524 91 13% 6% 63 22% 5% 25k 1% 18% 7 9%, 31 10% 4314 2% 21 % 14 n Tran (4) yn-Man Tr pf (6) Bklyn & Queens BkIyn&Queens pf(6) Bklyn Union Gas (§) Brunsw-Balks. ..... Bruns Term & Rwys Bucyrus-Erfe. .. Bucyru ie cv pf. Budd (EG) Mfg.... Budd Wheel Bulova Watch. . Buliard Co. .... Burrough A M(t Bush Terminal(2%) Bush Term deb (7)., Buite Copper & Zinc 3 Butterick Co.. 107 Byers (A M) Co alifornia Packing. . allanan Zinc & Ld. Calumet & Heela. ... Camp W&C Fd . Canada Dry (1.20)... < 26'% 4l 3% 14%m 34 10 13% 35 LY ) 1% odrich (B F) pf. Goodvear T & R (3). Goodyear 1st pf (7). Gotha k Hoslery Gould Coupler ‘Grabam-Paige. Granby Consol (50c) Grand Silver Stores. Grand ("nfon....... 46 21 Grand Union pf (3) 42 24'a Grant (W T) (1). 69% 15% Great Northern pf(2'x 23's 10 Great Northn Ore(2) 17 117 5% Great Western Sug.. 26 965 T4 Great Wn Sug pt (1) 2908 6% 1 Grigsby Grunow. 12 11 Guantanamo Sugar 2 Gulf Mol, & Northn. . 6 Gulf Mobtle&Nor pf. 10 Gulf States Steel. X 408 4208 ~ . ORI PRI 10 15% 49 » b4 ~5 56 n 319 13 4 26% Hacken Wat pf A 1% 1% Hahn Dept Stor Hahn Dpt St pf( Hanna of (7)... Hartman Corp (B). Hawailan Pincapple. 1008 Hayes Body Corp 6 Hercules Mot (80c).. Hercules Pow pf (1) Hershey Choc (6). Hershey Choc nf (15" Holland ¥ ce (1), Hollander Sons . Homestake M (7.8 Houdallle Hersh Househld Fin pf .20 Houston Ofl. ., Houston Ofl (new)., Howe Sound (1), 26 Hudson & Man (3 7% Hudson Motor (1). 3% Huwp Moo anadian Pacific 1% . *annon Milis (1.60). Car Clin & Ohio (4). Capital Admin (A).. Case (J 1) Co. 2 Sase (J 1) pf (1).... aterpillar Trac (2). "avanaugh-Dobbs pf “elanese Corp. s ‘elotex pf. “ert Acuirr “ent R R of N J “erro de Pasco (1).. “ertain-teed Prod hecker Cab Mrfg “hes & Ohio (2%) “nesapeake Corp(3). “hi Great Western. . *hi Great Westn pf. K1 Mil StP & Pac. .. “hi Mil SIP & Pac pf. n 11 n iy wstn. . “hi & Northwestn pf *hi Preu Tool . *h1 Pneu Tuol pf. .. hicaro R 1&Pacific. hi R 1& Pac 6% pf. hi R1& Pac 7% f. *hickasha Cotton Of1 Chiids Company.... Chrysler Corp (1) City Ice&Fuel (3.60) ity Ice&Fuel pf 6% y Stores lark Equipment(1). Cluett-Peabody (3). Cluett-Peabdy pt (1) Cocoa-Cola (18) Coca-Cola (A) (3). Colgate-Pal-P (2%4). Colg-Palm-P pf (6) Colonial Beacon. .«.. 5 Colorado & Southern, Columb Zl(blta). Columb Carbon (4).. Comm Credit (1.60), Comel Credit A (3).. Comel Crea pt (1%). mel Cred 1s1(6% ) pmel Cred pf B (2). Comei Inv Trust (2) Comel Solvents (1) Comwlth & Sou (3| Comwlith&Sou pt (§) Congolm-Nairn (1) Congress Cigar (1ja, Consol Cigars () 75 37% 30 95 80 78% 104 6% 1254 2% 68 705 10% bl 81 20 525 15% 3 1% linols Central. Ilinois Cent 11 (4). Indian Motor Cycle Indian fin. Indust Ravon (4) ineersoll Rand (4). Inland § Inspiration Copper. Insur Sh(Del) 162 % e Insur Sh(Md) (28e) . interboro Rap Trans Interlake Iron Inc Agricultur, Int Agriculture p Int Bus Machine(n6) Int Carriers,Ltd 50c. Int Cement (3)...... Int Combustion. . Int Harvester (2% nt Hydro E1 A (e2). Int Match pt (4). nt Merchant Marins. Int Nickel of Can 20¢ Int Paper pr Int Paper & Pw Int Paper & Pwr C. Int Paper & Pwr pf iut Printing Ink. ... 2 Int Printg Ink pf (6) 1508 Int Rys Cent Am, 608 2% int Salt (1) 2 —_— (Continued on page 14.) 5% 3 5's 3% 1% 5% 06 3% 164 » 24 104 8 8 1 13 10 27% Ll++41 Frs"srs STAR, WASHINGTON, D.. €, TUESDAY, IRALLY HALTS DROP Net. Close Chxe 461 54 P 94 59% 3l 13% 72 20 5 114% 134 23% 74 14% T 207 1% 51% 2 10 54% 97 3 8014 112 9 801y 10% 6% +2% 2% 424 =T% + % - % 14 —1% -4 129% + 25 567 17% 3% 13% 28 10% i 10 1 1% 228 28% 2244 - 3 5% 2% 5% IN STOCK MARKET Industrials and Utilities Lead in Upward Trend—Rails Also Improve. BY GEORGE T. HUGHES. Special Dispatch to The Star NEW YORK, December 29.—The de- cline in the stock market was checked today, and rallying tendencies appeared, most emphatic in the industrials and utilities, but to be seen also in the rails. The only logical explanation for the rally was the intimation from ‘Wash- ington that repeal of the so-called capi- tal gains and losses provision of the income tax law was favored by the dominant party in the lower house of Congress. It suggested that such a re- peal, if carried into effect, might af- fect the sales to take losses on 1931 income. As & matter of fact, any such retroactive measure is extremely im- probable, but the report did have an infiuence on the stock market. Short Covering. Besides drying up the supply that had been coming from large holders of securities, the story stimulated a cer- tain amount of short covering, and that help prices. To take a few examples: United States Steel by noon was selling 2 points above the low of Monday, ‘American Telephone showed a similar gain, American Can touched 60 against the low of around 58, Allied Chemical was in active demand and the volatile Auburn Auto ran up from 5 to 6 points. There was no change in the outside news to stimulate the market besides the tax proposition. There was still the urge on the part of institutions to show a liquid position at the first of the year. Railway earnings were as discouraging as ever. The Street could not see that any progress had been made in clearing up the foreign situation. Money was & trifle firmer, as was natural at the year- end. Nevertheless, the market viewed events today with more hope than it had shown in a week. It was of some significance that. volume increased today on the recove Among the stocks to show a better tone, besides those already mentioned. were International Business Machines, Coca Cola and Eastman Kodak in the higher-priced group, and General Mo- tors. Standard Oil of New Jersey and North American in the others. Tobaccc stocks did better today, especially Amer- ican Tobacco B, in which there seemed to be a large short interest. The rails were more irregular. Dela- ware & Hudson fluctuated through a wide range. Atchison and Union Pacific were the strongest of the dividend pay- ers. In the first hour Western Union made a new low for the bear market, but recovered partially afterward Directors of Allied Chemical declared the regular quarterly disbursement of $1.50 & share on_the common stock of that company. This had been generally expected. Gains at Opening. Fractional gains outnumbered de- clines at the opening. United States Steel opened at 3673, unchanged. General Motors likewise was unchanged at 22 and so Wwas Standard Oil of New Jersey at 261;. Overnight developments _included a firmer tone to the London market, & decrease in_weekly crude oil output, & further decline in_automobile prodiic- tion during November and a slight de- cline in sterling here to $3.43, along with some increase in gold holdings here. American Can, whose directors meet for dividend action today, opened at 59%, off 14, as the Street expressed some doubt about the payment of the usual extra Christmas dividend. Allled Chemical at 65's was unchanged. Its directors also act on dividend pay- ments today. General Electric at 241 Tose fractionally, but Westinghouse Electric lost a shade at 227, Fractional gains were recorded by Canadian Pacific at 115, Chesapeake | & Ohio at 26, New York Central at| 28%, Pennsylvania at 18 and Southern | Railway at 77, but New Haven de- clined 1 point to 18% and Northern Pacific was off % at 15 Consolidated Gas advanced 12 to| 589, and International Telephone was| up ‘4 at 77, but North American was' off 13 at 30% and Western Union was | down’ 7 at 40's. Auburn Auto dropped | 3, to 123%. American Tobacco com- mon was up ' at 65% and the B shares were slightly higher at 67, PbTA 10 MARKE;I‘. CHICAGO, December 29 () (United | States Department of Agriculture).— | Potatoes—Receipts, 33 cars; on track, | 141; total United States shipments, 323; | weak on No. 2 Russets, steady on other | stock; trading rather slow. Sacked, per | hundredweight—Wisconsin round whites, | No 1, 80a85, few 90; unclassified around ! 70; Nebraska Triumphs, 1.05a1.15; Idaho | Russets, No. 1. 1.50a1.65; No. 2, 85a90; | commercials, 1.00a1.10. NEW YORK BANK STOCKS NEW YORK, December Over-the-counter market: 29 Chase Chat_Phenix Commercial Nati . First Natl N Y Manhat C Natl City Public Trust Companies, Bankers Brooklyn Cent_Hanover Chem Bk & Tr Corn Exch . Empire Guaranty Irving Manufaciirers New_York_ pESs uatias Money to Loan Secured by first deed of trust on real estate. Prevailing interest and commission. Joseph 1. Weller sowam e 1o Public Service Corporation | of New Jersey Dividend No. 98 on Com- mon Stock Dividend No. 52 on 8% Cumulative Preferred Stock Dividend No. 36 on 7% Cumulative Preferred Stock Dividend No. 14 on $5.00 Cumulative Preferred Stock The Board of Directors of Publie Service Corporation of New Jersey has declared dividends at the rate of 8% per annum on the 8% Cumulative Pre= ferred Stock, being $2.00 per share; at the rate of % per annum on the 1% Cumulative Preferred Stock, being $1.76 per share; at the rate of $5.00 per an- num on the non par value Cumulati Preferred Stock, being $1.25 per share, | and 85 cents per share on the non par value Common Stock for the quarter ending December 31, 1931. All divi- dends are payable December 31, 1931, to stockholders of record at the close of business, December 1, 1931. Dividends on 6% Cumulative Pre- ferred Stock are payable on the day of each month. T. W. Van Middiesworth, Treasurer. Public Service Electric and Gas Company Dividend No. 30 on 7% Cumulative Preferred Stock Dividend No. 2 on $5.00 Cumulative Preferred Stock The Board of Directors of Publle Service Electric and Gas Company has declared the regular quarterly dividend on the 7% and $5.00 Preferred Stock of that Company. Dividends are payable December 31, 1931, to stockholders of record at the close of busincss Decem- ber 1, 1931 -, W n Middlesworth, Treasures. DECEMBER 29, 1931. FIGHT ON RAILROAD MERGER IS PUSHED Baltimore Interests Continue Opposition to Western Maryland Plan. HAGERSTOWN, December 29.—/| | Simultancous with the information here | | that the New York Central Railroad| { may make a bid for the Western Mary- | !land, which road was allotted to the Baltimore & Ohio in the proposed con- solidation of Eastern railroads, it was announced today in a letter received by the Hagerstown Chamber of Com- merce that the Business Protective As- soclation of Baltimore would continue to oppose any amalgamation of the Western Maryland and Baltimore & Ohio railroads. W. M. McCormick, Baltimore, presi- | dent of the association. in a letter to| the local chamber, said his organiza- tion would be represented at the hear-| ing on the proposed consolidation be-| fore the Interstate Commerce Commis-| sion January 6. Committee Appointed. McCormick, in his letter, urging the | chamber here to be represented at the hearing, pointed out that some months ago the Baltimore Association of Com- merce appointed a committee of five to study this particular matter and the report they submitted at th> meeting of the board of directors December 10 shows three members for and two against the proposed consolidation. After some discussion, it was decided to postpone the decisicn for a week or | until Thursday, December 17, and at| that meeting McCormick presented a | number of cardinal points and another | hearing was set for December 30. | Mr. McCormick pointed out that the Western Maryland is in a more pros- perous condition today than at any time for many years—in fact will make nearly a million dollars this year. It is known that Western Maryland officials are opposed to the Baltimore & Ohio acquiring the Western Maryland, but do look with favor upon a consoli- dation with the New York Central. The Western Maryland connects with the P. & L. E, a New York Central-con- i trolled system, at Connellsville, Pa., and receives in normal times a large | amount of freight from that system. It is pointed out that the New York Cen- | tral is desirous of obtaining the West- | ern Maryland because of its fine facili- ties at the port of Baltimore. B. & O. Positien. The Baltimore & Ohio wants it for | its Lurgan link between its main line at | Cherry Run, W. Va., and the Reading| system near Shippensburg, Pa. The | Baltimore & Ohio, however, has_indi- cated that it does not want the West- ern Maryland if Baltimore and the State do not want it to take it, indi- cating that it has already surveyed a short-line route from i point on the Potomac_ River across Washington County, Md., to 8 point near Shippens- burg, where it would connect with the Reading. Baltimore & Ohio surveyors worked for some time last year in lay- ing out this route.” All of the freight originating on the Baltimore & Ohio and destined to points in Pennsylvania | moves over the Lurgan division of the | Western Maryland through this city to the Reading. | The Hagerstown Chamber of Com- | merce has interested itself in the pro- | posed consolidation because of the pos- | sibility of the large Western Maryland | Railroad shops here being removed if the Baltimore & Ohio acquires it. | SILVER QUOTATIOhS. YORK, Decemb: 29 (noon) () ~~Bilver futures steady; sales, 135,- 000 ounces. Quotations, in cents: De- cember, 30.60; March, 31.05 bid: May, 31.75; July, unquoted; September, un- quoted. CLEARING HOUSE FIGURES. Washington Clearing House figures | | | | for_today, $3:841.838.11 6% Secured on residential property in District of Columbia und necarby Montgomery Co., Md. & IN DENOMINATIONS OF $250 and upwards BOSS & PHELPS Realtors NAtional 9300 FIRST MORTGAGE Investment 1417 K St A K »x» A—13 Washington Produce Butter—One-pound prints, 36: tub, 35, | 3 Fggs—Hennery, ceipts, 24a27. Poultry, alive—Turkeys, old toms, 20 a22; young toms and hens, 25a28; chick- | ens. 3 pounds ang over, 18a21; 2 to 213 pounds, 21a32; brdilers, 1} to 2 pounds, 21a22; hens, large, 14a16: small, 12a14; Leghorn hens, 13a14; roosters, 10; keats, young, 40a45; old, 25a35. Poutry, dressed—Turkeys, old_toms, 24a26: young toms and hens, 27a3 chickens, 3 pounds and over, 20a22; : to 2% pounds, 22a25; broilers, 1 28a33; current re- 15a17; Leghorn hens, 14al5; rooste 13; keats, young, 60a70: old, 50. Meat: Beef, prime, 16: choice, 15; good, 12':a13; cow, 9'%al0; lamb, top, 14; fair to good, 13a14; common, 10all; veal, top, 14; medium, 12}3a13; pork loins, 8 to 10 pounds, 1l1allly; 10 to 12 pounds, 10; fresh hams, 8 to 10 pounds, 13; 18 to 22 pounds, 19; smoked hams, 16al7; strip bacon, 18al7; lard, 80-pound tins, 8'%; packege, 9; com- pounds, 7a7'5. Live stock—Hogs, heav 4.50a4.75 medium, 4.75a5.00; light, 4.75a5.00; pigs, | 4.0024.75; calves, 3.50a7.50; lambs, 3.00 | 26.00 | Fruits—Strawberries, pint, 18: apples, | bushel baskets, 40a2.00; fancy box stock, | 2.25a2.50; pineapples, 3.50; grapes, Al- meiras, 2.0022.50; Emperors, 2.00a2.50; cranberries, 2.50; oranges, California, 2.75a3.75; Florida, 2.50a3.50; pears, 2.75 23.25; bananas, 75a2.50; lemons, 3.50a 5.50; grapefruit, 2.25a2.75; tangerines, 1.25a1.75; kumquats, quart, 10a15; per- simmons, 1.00a2.00. Vegetables — Potatoes, Maine, 100- pound sacks, 1.25; New York, 150-pound sacks, 1.75; Idaho bakers, 100-pound s, 2.25; sweets, Eastern Shore, 50a red. 75a90; lettuce, Iceberg, 4.50a 5.00; lorida, 2.00: broccoli, 3.50; caulifiower, 2.00a2.50; carrots, Califor- nia, crates, 4.00: nearby, bushel, 753 string beans, 2.00a2.25; limas, 4.00 ; peas, 8.00a9.00; beets, 100 bunches, 3.0024.00; salsify, per dozen bunches, 1.00a1.20; peppers, 3.00a3.50; kale, 50a 60: spimach, 1.00; mushrooms, 80al.00; turnips, 50a60; artichokes, 4.00a5.00; okra, Cuba, per pan, 90al.00; Florida, per bushel, 3.25a3.50; cabbage, new, 40- ot, 2.2582.50; old. 100-pound 1.25; celery, 3.50; yellow squash, baskets, 3.50; eggplant, crates, 3.50; cucumbers, pans of 12, 1.00; car- rots, California, crates, 4.50a4.75; to- | matoes, 6-pan crates, 3.00a6.00. U. S. TREASURY BALANCE. The United States Treasury balance announced today as of close of business December 24 was $500,185,399.48. Cus- | toms receipts for the month to date were $21,206,994.87. Total ordinary expendi- | tures were $3,458,584.66. PARIS BOURSE PRICES. PARIS, December 29 (#).—Three per cent rentes, 78 francs 40 centimes. Five per cent loan, 100 francs 35 centimes. Exchange_on London, 87 francs 50 | centimes. _The dollar was quoted at | 25 francs 54% centimes. *IIHIIIlIIIII|IIIllIl|llIlmlllllfllllllllll|lllIl|1I||IlIIIIlllllllllllllllllllll!lIIIII"IIIYIHIlllIllllIllll||IIlI!l"“ll"lll""llll¥ Money Available for Mortgage Loans AKE application to M ness properties—and we wi tion, with prompt report. If approved, the funds are readily available—and the loan will be made for 3, 5 or 10-year period RANDALL H. HAG MORTGAGE Loan us for a FIRST TRUST LOAN (either new or refinancing) on apart- ment house, office building, residential or busi- ill give it every considera- 5%% NER & COMPANY CoRRESPONDENT at. b w‘.’ynf/:/;/z‘ ./nfmmz )r”flafy 1321 Connecticut Ave. *1|||IHll|Al||l"llll|||||ml|||||l""||ml)iI|III|III|"IIIX|I|I]I| F. B. KEECH Decatur 3600 IlllmllllilmlIululllmnlmllmmlmllmllmmlmmm* & COMPANY Members of New Washington Stook Excharige New York Curb Exchange Liverpool Cotton New York Cotton Exchange New York Produce Exchange rk St N Y. Coflee & Sugar Exchange, Inc. New York Cocoa Exchange, Inc. Minneapolis Chamber of Commerce Bremen Cotton Exchal GRAINS Continuous Quot ock Exchange Chicago Stock Exchanse Chicago Board of Tra Association, Ltd. New Orleans Cotton Exchange Winnipeg Grain Exchange Rubber Exchange of M. Y., Inc. New York Hide Exchange. Inc. e National Metal Exchange. Inc. nge (Assoc. Members) COTTON ations by Ticker. Complete information—silver futures market. We are equipped to h. andle promptly orders on the leading exchanges of the world. H CORNER 17TH ST., NATION Chicago Srooklyn New York Det: PROPERTY Apartment House MANAGEMENT N.W., WASHINGTON AL 0245 Philadelphia roit Winntpeg Providencs MANAGEMENT OUR Property Management Department has had nearly a third of a century’s successful experience—and that’s what we bring to bear on the conduct of apai rtment houses placed in our charge. Efficient service — rendered at a truly nominal fee. B. F. SAUL CO. 925 15th St. N.W. MORTGAGE Nat’l 2100 LOANS National Metropolitan Bank OF COLUMBIA T NATION AL BANK IN THE DISTRICT 15th Street Opposite U. S. Treasury Capital, Surplus & Undivided Profits Over $2,300,000.00 Appointment in All Fiduciary Capacities operates Over a Ceniury of Service Has Tested Our Fitness —to care for the banking needs of depositors—large and small—under any and all conditions. @\ letropolitan facilities are at your disposal, whatever the extent or character of your banking requirements. Let's get together now to make 1932 business bigger and better. For quick response to your inqu —is invited by this bank, which a TRUST DEPT. whose efficiency is on a par wit Depts. be Interest Paid on Savings h that of our Banking Our Trust Officers will glad to explain trust mat- ters to you or your attorney. Open Until 5:30 P.M. . December 31st iries, Telephone National 1308