Evening Star Newspaper, March 1, 1933, Page 14

A—14 sxx TELEPHONE PROFIT . DECLINES $37.%8)... January Net Revenues LPwer |. Than Those for Same {£: Monthin 1932. N ¥ BY EDWARD C. STONE. The January net operatiug revenues ©f the Chesapeake & Potomac Tele- hone Co. were $37,968 below those for he same month in 1982, as shown by the report just filed with the Public Utilities Commission. Operating revenues were $37.481 less than for January a vear ago, resulting principally from lowered subscribers revenues, smaller public telephone reve- nues, and reduced revenues from toll essages. mOperaung expenses were_about the same as for January, 1932. Net operat- ing income was $155,529, which is $34,- 442 less than for January of last year. Total income, including non-operat- Ing income of $1,190, was $156,719 or $37,065 below January of last year, ac- cording to John A. Remon, general manager of the telephone company. In- terest deductions were $26,692. lea' ing balance before dividends of $130,027, Wwhich is $46,288 under January, 1932. ‘Washington was served by 178,738 telephones at the close of business on January 31, as compared with 180,217 on the same day last year. Total tele- phone calls made from ‘Washington telephones in January v “e 19,132,000, - Wilson Again C. & i President. Lloyd B. Wilson was re-elected presi- dent and John A. Remon general man- ager of the Chesapeake & Potomac Telephcne Co. by the board of directors at its regular monthly meeting held here yesterday. Other officers elected were Marshal D. Sedam, Philip O. Coffin, and John C. Koons, vice presidents; Walter B. Clark- son, vice president and secretary; Thomas B. Clarkson, treasurer; Harry C. Gretz, general auditor, and Ralph A. Van Orsdel, general counsel. ‘Administrative officers _are Charles Siemon, auditor; E. G. Bliss, general commercial manager; R. W. Prince chief engineer; P. G. Burton, general plant manager, and F. @. Macarow, general traffic manager. Real Signs of Improvement. The Federal Rescrve Bank of Rich-/ mond today reported definite signs of | business improvement in the fiftis Fed- | eral Reserve district during January and | early February—a period normally | dull—in its mcnthly review of credit, business and agricultural conditions. Outstanding among the _favorable | signs were improvement in retail and | wholesale trade. Retail trade, the bank | reported, was better in January than in most recent menths, and whoie.salei trade made the best comparative show- ing in more than three years. Textile mills not only reported a sea- scnal increase in cotton consumption in | ccmparison with December, but also showed materially larger consumption than in January, 1932, and for the first | time on record the fifth district con- | sumed half the cotton used in the entire | country. Tobacco Prices Improve. ‘Tcbacco prices paid growers were bet- | ter in January than in January last | year. Cold weather held back prema-| ture deveiopment of fruit buds and snow and rain put soil in splendid con- dition for the coming planting season. In banking, the reserve bank reported an increase in redisccunts held by it for member banks, tcgsther with an increase in its holding of Government securities. The circulation of Federal reserve notes showed an unseasonal in- crease between Januery 15 and !-‘el'zruax'yl 15, due chiefly to a desire of some banks in the district to stren n their cash position. . Reserve Deposits Higher. Member bank rescrve depesits at the rescrve bank rose during the past month, and the cash reserve of the Federal | Reserve Bank at Richmond also in-| creased materially. 4 Loans by member banks declined mode:ately between the middle of Jan- | uary and the middle of February, and their demand deposits dropped accord- ingly, but time deposits rose. Debits to individual accounts figures | in leading cities of the district during the four weeks ending February 8 show- ed a seasonal decline in comparison with debits in the four weeks ending January 11, and elso totaled 17 per ‘cent less than debits in the correspond- ing four weeks last year, ending Feb- ruary 10, 1932. North American’s Reporf Out. The North American Co. today re- orted net income for 1932 of $16,.- 415,750, equivalent, after preferred divi- dends, to $2.01 a share on the average common_stock outstanding during the year. This compares with $24,272,950 in 1931, or $3.41 a share. Gross earn- ings amounted to $107.412,389 against $117,921,860 in the previous year. Electric output last year totaled 4,365,871,352 kilowatt hours, a decrease of 9.60 below the preceding year. Sales to industrial customers e off 24.13 per cent, while commer sales dropped 6.27 per cent. customers increased 4.49 residential per cent. ; In his comment accompanying the report, President Frank L. Dame said that operating ratio was reduced to 52.81 per cent from 53.25 per cent in 1931, but that the management was “ent'rely hopeless in dealing with taxes, which were again a relatively greater burden even though the total amount | of $13977,646 was a slight decrease from the 1931 tax item.” Treasury Bill Sale Planned. Secretary Mills announces that the *Preasury will sell $75,000,000 in 93-day Treasury bills on March 3. The bills which will be dated March 6 will be sold to the highest bidders and re- deemed at face value on June 7. The tender will give the Treasury $75,000,- 000 in new money, as no small secur- ity issues mature before March 15. ‘Potomac Electric Power 53 per cent preferred sold at 1061 ex-dividend on the Washington Stock Exchange today. ‘Washington Gas Light 5s, 1958, fig- ured in a $500 transfer at 86%4. . POTATO MARKET. CHICAGO, March 1 () (United States Department of Agriculture).— Potatoes, 78; on track, 203; total U. S. shipments, 919; dull; trading rather slow; Wisconsin round whites, 70a7215: unclassified, 6212265; Michigan Russet Rurals, 70a72 Idaho Russets, 1.12}5a 1.171%; Colorado McClures, 1.2581.27%. . FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Selling checks A :l & today. Lordon, pound. Paris, franc. . Brussels, belga mark ranc Athens, drachmal.l. Madrid. peseta Vienna. schilling Badapest, Prague, crown (n. v, zloty . . crown. Stockholm, . CIOWR . Montreal, discount, T. S. TREASURY CERTIFICATES (Reported by Chas. D. Barney & Co.) Rate—Maturity. Mar. 15,1 High. 5% b4k 15% 81 9% 231 2 2 15 10% 3 10% 145 111 111% 9T 4% 58% 2% 1% 13 19% 28 15% 15% 13% 3% 38% 41% 106 61% 632 L 1] FINANCIAL TRANSACT“IONS ON ea 1933~ Stock and Loy. Dividend Rate. 3" Adams Express..... 50 Adams Exppf (5)..0 10 Adams Millis (2) 6% Addressograph. ... 7% Affiliated Prod 1.60 4714 Air Reduction (3)..u 111 Alaska Juneau(60c) . 1 Alleghany Corp ' 2 Alleg Cp pf $30 xW. .\ Alleghany Steel 70% Allied Chem & D (6) 6 Allis-Chalmers Mfg.: 5 Amal Leather pf. 19 Amerada Corp (2). 7% Am Ag Chem (Del) 815 91 49% 6% 15 35 13 1 3! 108 2 Am Brabe Sh&F 60 Am Can (4).. . Am Car & Foundry. . Am Car&Foundry pf. Am Chicle (13)...... ‘Am Comc’l Alcohol ‘Am Encaustic Tiling Am & Foreign Pwr. .: Am & For Pw 2d pf. Amé&Forgn Pw pf(6). Am & For Pw pt (7)., Am Home Prod 4.20 Am Ice Co Am International Am Locomotivel. Am Locomotive pt. Am Mach&Fdy (80c Am Power & Light..: AmP&Ltpf A (2%). Am Pwr & Lt pf (3).. Am Radiator. - Am Rolling Mills Am Safety Razor (3). Am Sm & Ref Am Sm & Ref 7% pt. Am Snuff pf (6) Am Steel Foundry. Am Stores (123) 4 Am Sugar (2).. Am Sumatra Tob. Am Tel & Tel (9) Am Tobacco (5). % Am Tobacco (B) (5).. Am Tobacco pf (6) ‘Am Water Works(1). Am Wat Wks ctfs(1) % Am Woolen. Am Woolen pf. Am Zinc & Lead Anaconda Copper 4 Anaconda Wire & C. Anchor Cap pf (6%4). Archer-Daniels (1) Armour of 111 (A) Armour of Il (B)... Armour of I1l pf. Arnold Constable. - - 5% = 9 o CI N h 2019 9 I N3 D G0 s e T IO 1 10 e bt e o 4 Associated Oil (1). Atchison. Atlantic Coast Line. . Atiantic Refining(1). Auburn Auto (d4) . rp (Del Baldwin Locomot 5 Baldwin Locomot pf. 100s Baltimore & Ohio.... 29 Baltimore & Ohiopf. 6 % Bang & Aroos pf (7). 60s 12 20s 20s 6 5 1 y Bayuk Cig 1st pi i Beatrice Creamery Beech-Nut Pkg (3). .: 3 Belding-Hemingway. Bendix Aviation. Best & Co. Bethlehem Steel. Bethlehem Steel pf. Bohn Alumn & Brass Borden Co (1.60) . 4 Borg Warner. . Boston & Maine % Briges Mfg Co.... Bklyn Manhat Tran.. Bklyn Man Tr pf (6). Bklyn Union Gas (5).x 4 Bruns Term & Rwys. Bucyrus-Erie cv pf. Budd (E G) Mfg. Budd Wheel.... Burrough A M(40¢ Bush Term deb stk ush Term pf (7). 1y tterick Co. 1 Butte & Superior 81, Byers (A 814°Calffornia Packing. 2 Calumet & Hecla. ... 7% Canada Dry G A (1).. 7i4 Canadian Pacifis 14 Cannon Mills (1). 301 Case (JI) Co. Case (J 1) pf (4). Caterpillar Tractor Cent Aguirre (1%) Cerro de Pasco. Checker Cab Mfg Ches & Ohio (2%) . s Chesapeake Corp (2). Chi Great Western. Chi Great Westn pt Chi Mil St P & Pac. .. Chi Mil StP & Pac pf. Chi & Northwestern.. 4 Chi Pneumatic Tool.. Chi Pneu Tool pf. Chi Rock I & Pac. ChiRI&Pac7% pf. Chi Yellow Cab (1) Childs Company..... Chrysler Corp (1) City Ice & Fuel (2) City Stores Coca-Cola Co (7). . Colgate-Palm-P (1).. Colg-Palm-P pf (6) Colo Fuel & Iron. Coiumbia Gas (b1) Columb Gas pt A(6). Columbia Pict vtc. ... Columb Carbon (2) Commercial Credit. .. Comel Cred pf (1%). 130s Comecl Cred 15t(6%). 330s 4 Comcl Cred pf B (2). 140s Comel Inv Trust (2). 18 Comel Inv Tr pf 632, 100s Comel Inv Tr pf (7).. 208 Comel Inv cv pf(e6). 2 Comecl Solv (60¢).... 28 Comwlth & Southn. 36 Comwlth & Sou pf(6) 10 Congol-Nairn (60c)..x 8 Consol Cigar. 6 Consol Film. .. ~onsol Film pf. 4 Consol Gas N Y (4) ‘Consol Gas NY pf(5). 3 Consol Laundries.... 5% Consol Oil Corp 97 Consol Oil pf (8). 3 Consol Textile......: 3145 Contl Baking (A).. % “ontl Baking (B) 36 Contl Baking pf (4) Contl Can (2) 4 Contl Diamond Contl Insur (1.20). Contl Motors. Contl Oil (Del).... Corn Products (3). Coty Inc. . Cream of Wht 234 Crown Cork & Sea! Crucible Steel Crucible Steel 4 Cuban-Am Sugal 7 . Cyrtis Publishing. 30~ Curtis Publish pf(7). 1% Curtiss-Wright. . 21¢ Crirtiss-Wright (A).. 4% Cutler Hammer 1% Davega Stores (h3).. 1~ Davison Chemical 87% Delaware & Hudson., 17% Del Lack & Westn. .. 55 Detroit Edison (6)..1 10% Devoe&Raynolds(A). 17% Diamond Match (1).. 26Y% Diamond Mach pf 1% 12 Dome Mines (11.30). 10% Dominion Stores 1.20 10% Doug Afreraft (75¢). x 2! 2% Dresser(SR)Mfg(B) 3 8L DruglInc(3). . 18 33 Dupont de Nem (2).. x162 997% Dupont deN db pf(6) 9 50% Eastman Kodak (3)., 11% Elec Auto-L (1.20) 1 Elec & Musical Instr, 3% Elec Pwr & Lt. : Elec Pwr&Lt $6 pf... Elec Pwr&Lt $7 pf... Elec Storage Bat (2). ErfeRR...... 5 ErieRR1stpf...... 4% Eureka Va Cleaner.. 1 Evans Auto Prod.. 1 10 Exchange Buf (25¢). 60s 3 Fashion Park As pf. . 1208 1% Federal Mot Truck % Federal Screw Wks. ., 1% Fed Water Service A. 13, Fidelity-Phoen 1.20.. 9% Firestone T& R (1).. 49% Firestone T&R pf(6) 44% First Nat Strs (2%)a 10% 104 84 aon o g g AN Ty Loy T o NMBO“ Relm 1 5 5 1 2 L 4 ‘oday's individusl sales are not e i it e Trom risterea in this edition. r-nn.* 20% 14'% Fourth Nat Inv 1.10. 2% 26% 161 Freeport-Texas (2) 1% 4 19% 13% Gen Am Tank Car(1) Th 16% 105% 10: E2 10 3% 16% 12 27% 1% 41% DN SEREOFFEFEIE FIP FHE LA LA+ - +++++ 1+ 18 169 145 Homestake Min (9).« 23% 50 5% 10 10% Low. 4% 1 2% 5 13 5 2% are not given In this — o Add 00. High, Low. Close. Foster-Wheeler. 5 oy + + % + 1% 1% + % 1 3% 3% W% 14U 5 4% 18% 13 105% 105 1.8 °3 Gabriel Co (A). Gen Am Investors, Ggn Asphalt. . Gen Baking (2). Gen Baking pf (8) “sen Bronze. Gen Cable pf... Gen Cigar (4) . Gen Electric ( . Gen Elec spec (60c) Gen Foods (2) s Gen Gas & Elec (A).. Gen Mills (3). Gen Motors (1). Gen Motors pf (5) Gen Outdoor Adv. Gen Outdoor Adv (A) 4 Gen Ry Signal (1). Gen Realty & Util Gillette Sat Raz (1) Gimbel Bros Gimbel Bros pf. Glidden Co. Gold Dust (1.20). Goodrich (BF). Goodrich (B F) pf. Goodyear Tire&Rub. Gotham Silk Hoslery. 4 Graham-Paige. Grand Union pf (3) 4 Grant (W T) (1). % Great Northern pf. 1% 6% 15 1% 49 8% 1% 515 114 3 1% 104 28% 19t 12 2 2% 41 2% 5% 13% 3% 6% 24% 5% 13 35 31 ™% 613 Great Northern Ore Great West S Great Wn Sug pf(7). rigsby Grunow Gulf States Steel, Hahn Dept Stores Harbison & Walker Hercules Powder 1% 4+ Houdaille-Hersh(B), Househd Fin pf 4.20. Houston Oil....... Houston Oil (new). Howe Sound (40c). .. ° Hudson & Man (214). Hudson Motor Car... Hupp Motol Illinois Central.....: Industrial Rayon (2) Ingersoll-Rand(1%). Inland Steel..... Inspiration Copper. Insuranshrs Del 1 Interboro Rap Trans. Interlake Iron. . Int Bus Mach (6) Int Harv Int Hydr Int Nickel 1+ 4+ Int Tele & Teleg. Johns-Manville Jones & Laugh p Kelvinator Corp. Kennecott Copper Kresge (SS) Co (1) 18% 14% Kroger Grocery (1).. ++ p4 * - 2% % 5 [(RNE S FORE EFEES FS 102 + 44+ A ¥ ++ 9% 1 TH 9% Fll4++ +4+ ++1+++ +| e 2! 104% 101 5 Libbey Owens GI: % Liquid Carbonic % Lorillard (P) (1.20). Laclede Gas pf (5). Lambert Co (4) Len Port Cmt pf 3%., Lehigh Valley RR.. Lehman Corp (2.40).. Lehn & Fink ( Ligg & Myers B (15 Lima Locomotive Link Belt (80c) Loew's Inc (3). Loft Inc Loose-Wiles Bis (2). Lou Gas&El A (1%). Louisville & Nash. Ludlum Steel McAndrew Forbes(1) McCall Corpn (2) Mcintyre P M(11% McKeesport T P (4). k) % McKesson & Robbins 4 Marmon Motor Car Mack Trucks (1). Macy (RH) & Co (2). Magma Copper(50¢) . Manhat Elev mod gtd Marine Midld (80c).. Marlin-Rockwell(1) . Mathieson Alk (133). May Dept Stores (1). Maytag pf ww % Melville Shoe ( Mengel Co Met-Gold Pic pf 1.89. Miami Copper. . Mid Continent Petm.. Midl'd Stl 1st pf (8).. ell Reg (1) 4 Missouri Pacific pf. 11% Nash Chat & St L. Monsanto Chem 1% .o Montgomery Ward. Motor Products. . ... Motor Wheel. | ++ M array Corp Nash Motors (1)... Nat Cash Reg (A). Nat Dairy Prod (2) Nat Distillers. Nat Surety . at Tea (60c) ‘evada Con Copper Newport Industries. . N Y Central N Y Chicago & St L NCChi&StLp N Y & Harlem (5).... Y Investors 4 b EE Rl A % 4 N Y N H & Hartford. 1t 4% 2% 98% 1% 10% 2% Otis Stcel pr pf. 32 24 30 7L = 12 % % % 5% 20 % 13% 4% 4% 4% 2% 3 “~% 5 9% 6% % 4 19% 38% 20 96 18 3 48 574 3 6% 1% 5 4 7 13 N Y N H & Hart pf. N Y Ont & Western N Y Shipb'ldg (10¢). Y Steam pf (6) Noranda Min (a1.10). Norfolk & West (8).. North Am Aviation North Am (b8 %stk) . North Amer pf (3)... 17% 10% Northern Pacific. Norwalk Tire & Rub. Ohio Ofl. Oppenheim Collins. 13% 10% Otis Elevator (1) Otis Elev pf (6).. Otis Steel. & EE Owens I11 Gla: Pacific Gas & El (2).. Pacific Lighting (3).. Pacific Tel & Tel(7). Packard Motor Car Pan-Am Pet B (80c Paramount Publix. Park Utah. .. Pathe Exchange. Patino Mines. Penney (JC) (1.80) Penn Coal & Coke. Penna RR (h30c) Pere Marquette pf. Petrol Corp of Am. Phelps Dodge Phila & Read C & Phillips-Jones Co. Phillips Petroleum Pierce Petroleum. ... Pillsbury Flour(60c): Plymouth Ol (1) Port Ric Am Tob(B Postal Tel&Cable p: Proctor & Gam (1% Proc & Gamb pf (5).. Public Sve N J(3.20). x 22 Public Sve NI pf (6).x 7 Pub Sve GEE pf'(5). x 1 Pullman Corp (3) 16 PureOil..... Pure Oil pf (2). Purity Bakeries (1) Radio Corp. Radio Corp pf (B). Radio-Keith-Orph. .. Raybestos-Man (60c) x 1 + - T4+ +4+ + +1++ +4+ ++1 1 3% + 7 Republic Steel Revere Cop & Br pf. Reynolds Spring 6% 33% 26% Reynolds Tob B (3).. + % + % - % -% 49% % —- % 31 % 6% 30% 804 8% 6% St Joseph Lead 28 Scoti.Paper Richfield Ofl Ritter Dental. Safeway Stores (3).. Safeway Strs pf (7). 5 308 . Foin (140)0ae 405 29 B8 ’s indivi sales X ‘in muflm:-hm- erterars paver. o FE EEE SEFus FHI S+ 44 LI+ + sales are jon are from Bales— . | High. Low. Lividend Rate. 12 Sears Roebuck Second Nat Inv, ServelInc...... Sharp & Dohme. Sharp & Dohme pf(2) Shattuck(FG) (50c) Shell Union Oil. Simmons Co. Simms Petrolm (35¢).. Skelly Oil.. . Skelly Oil pf ww Sloss-Sheff Steel pf. Snider Packing. Socony Vacuum 40c. So Port Rie Sug 1.60.. So Port Ric S pf (8).. Southern Cal Ed(2) Southern Pacific Southern Railway. .. % Southern Railway pf Standard Brands (1) Stand Gas&El ¢1.20) S&EL pf (4) Stand Gas&El pf (6) '3 Siewart Warner. . Stone & Webster pegior Steel Tennessee Corp..... Texas Corp (1). Tex Gulf Sulphur(1) 4 Tex Pacific Coal&Oil. Tex Pacific Land Tr. Thatcher Mfg Co. Third Nat Inv (90c). Tide Water Asso Oll. Tide Water As pf (6) Timken Roller Bz (1) Transamerica Corp. % Ulen & Co. 9% Und-Ell-Fisher (56e) . 55 Union Bag & Paper, nion Carb & C (1), Un Oil of Calif (1). Union Pacific (6). Union Pacific pf (4) Unit Aircraft. Unit Aircraft p ik Add 00 High. Low. Close. 16 Seaboard Oil (150c).. x 5; ig% 15¢ 16% in this ed!f yesterday's paver, Net. ~Prev. Chge. | High, - 19383~ Low. % 13% 1te 15 2% 22 6% 4% 4% 14% 2% 1% 30 U S Leat 15 U S Pipes 4 Y S Pipe U S Reall 134 23% 65 2% U S Steel U S Steel [ 14% 8 Vanadiu Warren Warren Webster Wesson West Pa West Pa West Pa West Pa Western Western Western Westing Westing] Westing] Wi Wi zley 6% 5 415 Young S| 10:30 AM. 1:30 P.M. Dividend rates as Sates o Cach sioek In t Etock Dividend Rate. Unit Carbon... Unit Corp (40¢) . Unit Corp pf (3). Unit Dyewood. Unit Fruit (2). U S & Forn Sec pf. U S Gypsum (1.60) U S ind Aleohol. U S Leather (A).. U S Rubber. . U S Rubber 1st pf. U S Smtg & Ref (1).. Yale & Towne (1)... 2% Yeliow Truck. - 3% Zonite Products..... Sales of Stocks on New York Exchange. FINANC THE NEW YORK STOCK EXCHANGE . Received by Private Wire Direct to The Star Office. sales are nof re from les— this_edition. et et. Low., Close. Chge 1 0% — % 6% + % 29% — % 1+ W 26% +1% 16% + % -1 + % —1% t given It yesterday’ and her. Y &Fdy (50¢).. 1st (1.20)...&0 ty & Imp. T+l +1++0+1+ 1pf (2). Util Pwr & Lt (A). % Vadsco Sales Corp m Corp. Walworth Co. .. ‘Ward Baking (B). ‘Warn Bros Pictures. Bros Bros cv pf. Eisenlohr. % Wells Farg 0&Sn (5 Elec A (7).. Elec pf (6). Pwr pf (6). Pwrpf (7). Dairy (B).. Maryland Union . ‘se Air B(1). house Elec. . hse 1st (315) White Rock M S (2). Wilcox Oil & Gas ‘Wilcox Rich A (2 4 Willys-Overland son & Co (A) Wilson& Copf..... Woolworth (2.40). Worthington Pump. . 10% 348 8 215 o 3% (Wm) (3).. pring&W (1) 10 90,000 12:00 Noon 490,000 2:10 P.M....... 620,000 given in the above table are the annuai cash | payments based on the latest quarterly or half-yearly declarations. sUnit of trading stock. a Paid e Payable in cash or stock. 1Plus S1 in special preferred stock. 2% in stock. stock. m Paid last ye © Pavatle in scrip. less than 100 shares. 1Partly extra. this year—no regular rate. 1 Plus 8¢ iPlus b Payable in in lin‘c’xk. L \:: eAr—no regular rate. nPlis 5% in stock: CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, March 1.—Following is today’s summary of corporation news prepared by Standard Statistics Co. Inc, New York, for the Associated Press. Aircraft. ‘Transcontinental Air Transport 1932 deficit, $72,166, vs. deficit, $72,723. Automobiles and Trucks. Willys-Overland Co.—Court refuses to sanction manufacture of 4400 ad- ditional trucks for International Har- vester until proof is given that income will equal the outgo; also requires guarantees that wage scale will not be reduced further and that labor claims will be paid. Automobile Parts and Tires. Perfect Circle Co. 1932 common share earnings, $1.56, vs. $5.58. Electrical Equipment and Radio. Arcturus Radio Tube Co. 1932 defict, $464,603, vs. deficit, $266,103. De Forest Radio Co.—Receivers have accepted a bid of $400,000 for the as- sets of company made by Radio Corpo- ration of America, subject to approval of Federal Court; bid does not cover accounts receivable of about $100,000 which would remain in hands of re- ceivers. General Electric Co. 1932 common share earnings, 41 cents, vs. $1.33. Household Products. Diamond Match Co. 1932 common share earnings, $1.54, vs. $1.30. Leather and Shoes. Amalgamated Leather Co. Inc. 1932 deficit, $23,277, vs. deficit, $393,429. Metals (Non-Ferrous.) Cresson Consolidated Gold Mining & Milling Co. 1932 common share earn- ings before depletion 7 cents. Silver King Coalition Mines Co. 1932 net income $2,323 vs. deficit $10,137. Miscellaneous. Driver-Harris Co. 1932 deficit $378,- 671 vs. deficit $202.778. United States Foil Co. declared quar- terly dividend of 5 cents each on class A and class B common stocks; pre- viously 7% cents was paid quarterly on each class. Zonite Products Corporation 1932 mr;x‘mon share earning 67 cents vs. $1.14. oil Pure Oil Co. declared dividends of 371 cents each on 5% per cent and 6 per cent preferred stocks and 50 cents on 8 per cent preferred stock; heretofore, quarterly dividends of $1.25, $1.50 and $2 a share were paid on the 5% per cent, 6 per cent and 8 per cent preferred stocks, with a payment of $1.50 being made each April 1 on 51; per cent issue to bring annual rate to $5.25 a share. Railroad And Railroad Equipment. Canadian Pacific Railway net profit in January $323,372 vs. profit of $617,~ 478 in January 1932. Colorado & Southern Railway Janu- ary net operating income $46,314 vs. $112,726 in January 1932. Chicago, Rock Island & Pacific Rail- way- January net operating deficit $180,486 vs. deficit of $85559; I. C. C. approved loan of $3,718,700 to company ?y 1};.‘;’ F. C. for a term expiring March » 4. Western Pacific Railroad Corpora- tion January net operating loss of ‘Western Pacific Railroad C subsid- jary, $105242 vs. loss of $119,388 in January, 1932. Long Island Railroad January, net operating income up 43.3 per cent. Minneapolis & St. Louis Railroad— I.'C. C. approved a three-year loan by R. F. C. of $1,076,594 to receivers of company; proceeds will be used to pay taxes and principal and interest on equipment trusts and to cover operat- ing expenses. New_ Orleans, Texas & Mexico Rail- way—I. C. C. authorized company to issue $7,456,726 of promisory notes to Missouri Pacific Railroad in payment of like amount of capital advanced. Norfolk Southern Railroad proposes to cut steam coach one-way fares to 1% cents per_mile. Norfolk & Western Railway January surplus, after charges, $1,311,927 vs. $456,543 in January, 1932. Pittsburgh & West Virginia Railway January net operating income up 10.7 per cent over January, 1932, St, Louis-San Francisco Railway— I C.C. a three-year loan by |R. F. C. to receivers of company, pro- % | ceeds to be used to pay taxes and prin- | cipal and interest of equipment trust Virginian Railway January surplus after charges $255895, vs. surplus of $181,474 in January, 1932. Retail Trade. Grand Union Tea Co. 1932 common- share, earnings 43 cents, vs. $1.86 in deferred action on on common stock ERE BRR R FIEF OEE ERES 931. Kresge (8. 8.) Co. ly dividend Washington Produce WHOLESALE PRICES. 22; tub, 21; one-pound prints (92 score), 21; tub, 20; one-pound prints | (91 score), 20; tub, .19; one-pound prints (90 sccre), 19; tub, 18. | Eggs—Hennery white, 14al4'2; cur-| rent receipts, 13a13!2: Government graded, extras, 19; standards, 17%%; mediums, 17. |~ Poultry, alive—Turkeys, hens, young, 16a20; old, 12al4; toms, 13al4; old, 8a |10; chickens, hens, 10all; Leghorn hens, £a9; Winter chickens, 12al4;| stags, 8al0; roosters, 6a7; Plymouth | Rocks, broilers, 18a20; fryers, 17al9; | roasters, 17al9; mixed colored chick- | ens, 14a16; keats, young, 25a40; old, 15a 120; capons, 7 to 9 pounds, 18; 5 to 6 | pounds, 15. Poultry, dressed — Turkeys, hens, young, 19a23; old, 15a17; toms, young. 16al7; cld, 11a13; chickens, hens, 13a 14; Legkorn hens, 11a12; Winter chick- | ens, 15a17; stags, 11al3; roosters, 9al0; | Plymouth Rocks, broilers, 21a23; fryers, | 20a21; roasters, 20a22; mixed . colored chickens, 17a19; keats, young. 28a43; | old, 18a23; capons, 7 to 9 pounds, 21; | 5 to 6 pounds, 18. | Meats—Beef, 10; veal, 13; lamb, 13; pork loins, 10; fresh hams, 12; smoked bams, 13; strip bacon, 13; lard, 7 «cmpound, 7. | Live stock—Hogs, light, 3.50a3.75; | medium, 3.50a3.85; 3.50a3.70; pigs, 2.50a3.50: roughs, 1.50a2.75; calves, 3.0026.00; lambs, 3.00a6.00. Fruits—Apples, fancy box stock, 1.75a2.00; bushel baskets, 1.00al1.25; | peaches, . 3.25; pears, 1.50a2.75; | plums, 3.50; apricots, 3.25; nec- tarines, 3.50; mandarines, dozen, 40a 50; oranges, 2.50a3.50: \emons, 3.50a 450; tangerines, 2.00a2.25; grapefruit, 2.25a2.75; limes, per 100, 2.00; bananas, 1.00a2.50; alligator pears, 3.50a4.50; | honeydews, 2.50a3.50; pineapples, 3.00a 400; Spanish melons, 6.00a7.00; kum- quats, quarts, 20; rhubarb, 40a50; cran- | berries, 3.25, grapes, Almeira's, Argen- tina, 3.50; California, 2.50a3.00; straw- berries, 5.0026.00. Vegetables—Potatoes, Maine, 125; | New York, 1.00al.15; Fiorida, new, 1.75; Idaho bakers, 1.75; sweets, 65a75; | tomatoes, repacks, 3-pan crates, 1.00a 2.00; iugs, 1.50al1.75; broccoli, 3.00; "!umips. 40a50; parsnips, 1.50; string beans, 1.50al.75: peas, 2.00a3.C0; lima beans, 3.50a4.00; peppers, 1.50a |2.25; kale, 30a4 spinach, 50a1.25; | asparagus, Florida, crates, 5.00a12.00; | hot house, 2-dezen bunches, 5.00; mush- rooms, 65a90; salsify, per dozen, 60; lettuce, iceberg, 3.00a3.25; squash, 1.75a 2.25; eggplant, 2.50a3.00; beets, crates, 1.25; carrcts, crates, 1.25; cucumbers, | 30024.00; celery, 1.75; cabbage, new, | hampers, 1.25a1.50; old, sacks, 75a90. | e | MARYLAND TOBACCO PRICES. | BALTIMORE, March 1 (Special). —Receipts of Maryland leaf tobacco in- creased to 207 hogsheads, while sales totaled 173 hogsheads, all old crop, mostly low and medium grades. Sec- onds have been selling somewhat higher, but desirable hogsheads are scarce. ! About two-thirds of the intended seed beds have been sown, it is re- ported, and indications point to a full- average crop in 1933. Quotations today per 100 pounds: Frosted and inferior, 2.00a4.50; sound to good common, 5.00a15.00; medium to good, 15.00a30.00; good to fine red, 30.00241.00; fancy, 41.00a42.00. Sec- onds, common and medium, 4.00a15.00; good to fine, 16.00a28.00; 1931 crop, good leaves, 2.00a12.00; upper country burley nominal. Gold Stocks Decline. NEW YORK, March 1 (#).—Gold stocks of the United States showed a Against imports of $933,900 from India there were exports of $972,100 to France and $200,000 to Germany, while metal earmarked for foreign account totaled $16,354,800. SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) Allis-Chalmers Co. 5s 19: American Chain Co. 6s 193: & Tel. 525 19 ; ling Hemi: Bethlehem adian Nor. Ry. an: y. 4158 1935 Chi. Northwest. R. R. bs 1933 k_Island 4s 1933 Elec. Illum. 4: ). Gen. Petroleum Corp. 5s 1940 Gen, Public Service 5las 1939 Grand Trunk Canads 6s 1936 Great Northern Ry. 7s 1938, Kegstone Telephone bs 1935 Laciede Gas t 5s | cabbage, Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md, March 1.—White Butter—One-polind prints (93 score), | potatoes, per 100 pounds, 85a1.00; new, | barrel, 5.00a6.50; sweet potatges, bushel, 40a85; barrel, 1.00a1.50; beans, bushel, 1.25a2.00; beets, half crate, 1.10a1.25; ton, 14.00a15.00; bushel, 50a60; caulifiower, crate, 1.00a 1.50; celery, crate, 2.00a2.75; cucum- bers, bushel, 3.0024.50; eggplants, crate, 1.50a3.00; lettuce, crate, 2.50a3.00; lima beans, bushel, 3.00a3.50; onions, 100 pounds, 1.00a1.25; peas, bushel, 2.00a 2.75; peppers, hamper, 50a1.00; spinacn, bushel, 1.00a1.25; squash, bushel, 50a75; tomatoes, lug, 1.00a1.75; turnips, basket, 20a30; apples, bushel, 35a1.50; grape- fruit, bex, 1.75a2.50; oranges, box, 1.75a 3.50; strawberries, pint, 10all; tange- rines, 12 box, 1.00a1.50, | _ Live poultry—Turkeys, young hens, pound, 19; gobblers, 16; old hens, 17; toms, 12al4; young chickens, 13a16; all kinds, poor and thin, 9a10; old hens, 10a12; Leghorns, 10all; old roosters, 7a9; ducks, 12al13; broilers, 15a18; | geese, 10al5; guinea fowl, each, 25a45; | pigeons, pair, 15220, |~ Eggs—Receipts, 331 cases; nearby | firsts, dozen, 14%z; duck eggs, 16a20. Butter—Good to fancy, creamery, | pound, 181:a20>; ladles, 14al5; store | packed, 11; process butter, 16a17. Live Stock Markets. Cattle—Receipts, 15 steady; good to choice, 4.75a5.00; medium to good, 4.5024.7: fair to medium, 4.0024.50; plain to fair, 3.50a4.00; common to plain, 3.00a3.50. Bulls—Medium to good, 3.00a3.25; fair to medium, 2.50a3.00; plain to fair, 2.25a2.50; common to plain, 2.00a225. Cows—Medium to good, 3.00a3.50; fair to medium, 2.50a 3.00; plain to fair, 2.00a2.50; common to plain, 1.50a2.00. Heifers—Good to choice, 4.5024.75; medium to good, 4.00 a4.50; fair to medium, 3.50a4.00; plain ;osotglr. a.nlg:gs,gn; common Lsngé:in. .5023.00. cows and s TS, 30.00a6.00. Sheep and lambs—Receipts, 400; steady; sheep, 50a2.50; lambs, good to choice, 6.25a6.75; common to medium, 3.00a5.75. Hogs—Receipts, 900; steady; lights, 3.9034.25; medium, 3.90a4.25: heavies, 3.504. roughs, 2.25a3.45; light pigs, 3.0023.50; pigs, 3.50a3.90. Western hogs, 10a20 higher than quotations. Calves—Receipts, 75; steady; good to choice, 6.50a7.00; common to medium, 4.00a6.00. LOAN TOTAL DROPS. By the Associated Press. Loans by reporting member banks of the Federal Reserve showed a sharp drop during the week ended February 21. In the table that follows these loans are shown for comparable periods, as reported by the Federal Reserve Board: ‘Week ended February 21. $9,865,000,000 evious week. ... 10,083,000,000 Same week last year.... 12,609,000,000 SILVER QUOTATIONS. NEW YORK, March 1 (#)—Bar sil- ver quiet, unchanged at 26%. INVESTMENT TRUSTS NEW YORK, March 1 .- - the-counter market. = own (Quotations as of 12 o'clock.) Am Bank Stock Bullock Pund Corp med. ... Corporate ‘Trust Accum Corp Tr Accum Ser mod Dividend Shrs .. Fund Tr Shrs A’ | net reduction of $16,593,000 yesterday. | M: NEW YORK BANK STOCKS NEW YORK, March 1 (#).—Over- the-counter market: (Quotations as of 10 o'clock.) carrots, | IAL. STOASME PR INLGHT TRADIG Gold Mining Group Is Fea< tured—Leaders Hold in Narrow Range. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, March 1—In the face of weakness in United States Govern- ment bonds and an %ncrease in the numbe? of localities affected by bank- ing restrictions, the stock market to- day was firm from beginning to end, with the so-called pivotal issues rang- ing_higher. Two other features of the financial situation were the steadiness in com- modities and the moderate reaction of foreign exchanges in favor of the dol- lar. Wheat closed off 4 to up % cent. Cetton was higrer practically all day. Bugar futures sold at approximately the high of the present movement. Only in silver was there any weakness and that was down 25 to 35 points. Possibly the lower quotations for Eu. ropean currencies were the natural re- sult of their recent strength. However, it was an encouraging development. Money on the other hand was higher, with the call rate advanced to 2 per cent and with increases in the buying rates for acceptances. Stocks made their best prices in the last hour As a rule their gains were very moderate, but the fact that they were able to gain at all was noteworthy. ‘The market opened practically un- changed and held throughout the morning, hours. There were fractional recessions in individual stocks, but on such small volume as to be of no sig- nificance. Cautous covering was be- lieved to be under way, as it was in the late trading the day before. “The one point of strength was fur- nished by the gold mining stocks. These were evidently being accumulated as a hedge against reactions in the general list. Homestake, Dome and Mclntyre were prominent in the movement. Oils were heavy, but inactive. American Telephone, Allied Chemical, American Can and U. S. Steel common were off a point to a fraction. In the railroad list Union Pacific, selling ex-dividend, was off less than a point and Atcl down only a fraction. Under the cir- cumstances the market was regarded as acting well. Stocks had to contend with reports of further banking disturbances, a re- duction in the rate of steel operations, a cut in electric power output of 5.7 per cent from the same week a year ago against a reduction of 4.9 per cent last week, and a number of unfavor- able car loading statements. These were considered, however, to be the tem- porary results of existing conditions and not in themselves disturbing. The mar- ‘ket was looking to action by Washing- ton to relieve the banking situation. | It was interested in the news that the | Pre ent-elect and his Secretary of the | Treasury were to confer on the topic at Hyde Park today. U. S. TREASURY BALANCE. By the Azsociated Press. Treasury receipts for February 27 | were $5,689,830.93; expenditures, $28,- 738.752.77; bak e, $232,652,618.43. Customs duties fo~ 27 days of February | were $15,704,818.58 ‘ ANNUITY PROVIDES { | NCREASED UPREME ECURITY {INcoME ~ with BOOKLET MAILED ON REQUEST NAt. 0340 \f A HIGH RETURN WITH ) SAFETY I 6 | % FIRST MORTGAGE NOTES | Secured on Conservatively Appraised Homes in the | District of Columbia 1 DENOMINATIONS $250 UPWARD BOSS & PHELPS NA. 9300 | 1417 K ST. Realtors MORTGAGE LOANS In the District of Colum- bia and Nearby Maryland and Virginia REALTORS oan Correspondent f the Metropolitan ife Insurance Company Washington Building District 9486 L ° L T STATEMENT OF THE CONDITION OF THE Equitable Life Insurance Company Of Washington. District of Columbia, on the 31st day of December, 190: as required under Section 647 of the Code of Law for the District of Columbia. INCOME. New Premiums .. Renewal premiums $340.458.58 1,848,000.13 Total premium income. Total interest and re Other income. Total inceme DISBURSEMENTS, Net amount paid for losses and ‘matured endowments ...... $4506,740.25 Other payments to policy hol 760,756 21 o Pas T Al other disburses Total disbursements. ASSETS. Real estate ................ $607.028.85 Mortgage loans on real esiate.” 4,087.748.37 Collateral loans E 4,500 '386.087.61 148,712.44 nds and " stoc} Deposits in banks. s al interest and Tents due and accrued .. & Net amount of uncolie deferred premiums All other assets. Gross_assets. $10,271.687.95 Deduct assets not admitted. . 504.767.08 ‘Total admitted assets . LIABILITIES. Net reserve, required by law..$8,576, Total policy claims. 24 Other Habilities ... Capital paid up. Contingent reserve . Unassigned funds (surpius). Aot o TR, SO n during the year, Becember’ 31 811,633.00. unt of ordinary business in_ the District of during the year, % mber 31... ustrial business . i the year, out- o oo 00 Amount of industrial b SIS the District of 836.80.00