Evening Star Newspaper, March 2, 1933, Page 14

\ FA—14 WASHINGTON GAS " INCOME DECLINES , Decrease of $24,632 Shown % in January Statement to Commission. EFF BY EDWARD C. STONE. Total net operating revenues of the ‘Washington Gas Light Co. for January amounted to $234587, against $259,219 | in January, 1932, or a decrease of $24,632, according to the monthly state- ment filed with the Public Utilities Commission today. Operating revenues were $13,448 Jower, amounting to $560,263 this year in comparison with $573,711 in January last year. Operating expenses for the month totaled $325,676, against $314,492 in the same month a year ago, or an increase of $11,184. Taxes in January this year amounted to $35294, against $35481 a year ago. “The provision for uncollectible bills was larger, leaving an operatng income of $194,831, against $2215 Non-operat- ing income decreased from $1,680 to a deficit of $3,032 this year, leaving a gross corporate income in January of $199,799, compared with $223,233 in the like month a year ago. After interest and other charges the gas company reported a total net corporate income for the month, before dividends, of $110.012 ' comparison with $152,696 in Jant 1932. The decline in net corporat income this year is attributable to rate reductions made effective during 1932. Georgetown Company. Total net operating revenues of the Georgetown Gas Light Co. for January amoynted to $11,650, against $24.066 in JSnuary, 1932, revealing a falling off of $12,416, according to the monthly statement filed with the Public Utilities Commission today. Operating revenues showed an in- crease, amounting to $125,129, in com- parison with $119,758 for January last year. Operating expenses for the month totaled $113,479, against $95,692 in the same month a year ago. Taxes in January of this year called for $2.260, against $3,503 a year ago. The provision for uncollectible bills was larger, ieaving an operating in- | come of $8412, against $19.983. Non- | operating income increased from $1,655 a year ago to $2.425, leaving a gross corporate income for January of $10,- 838, compared with $21,638 for the same | month a year ago. | After interest and gthi‘r (‘hyal’gels, the | company Teported a total net cor- g:-ate I‘l?lcome for the month, before dividends of $6,419, in comparison with $17,075, in January, 1932. The decline in net corporate income this year is| attributable to rate reductions made ef- | fective during 1932. Department Store Sales. | Sales in 32 department stores in the fifth reserve district in January made | a more favorable comparison with sales in the corresponding month of the preceding year than most other recent | months. Sales were 18.1 per cent less | than sales in January 1932, a consider- | able part of the decline being due toi price reductions this year. Stocks on the shelves of the report- | ing stores declined an average of 11.4 per cent in January, a seasonal reduc- | tion, and at the end of the month averaged 16.5 per cent less than stocks on hand a year earlier. Probably most of the decline in stocks during the | year is acounted for by price reductions. Collections in January, 1933, averaged | 28.2 per cent of receivables outstand- ing at the beginning of the month, a slightly lower percentage than 28.3 per cent collected in January 1932. Potomac Power Report Filed. Operating revenues of the Potomac Electric Power Co. in January totaled $1,024,790.98 against $1,070,641.73, a decrease of $45,850.75, according to the monthly report filed today with the Public Utilities Commission. Revenue deductions called for $483.- 459.60 compared with $503,187,82, a de- crease of $19,728.32, leaving net operat- ing revenues for the month of $541.- 331.38 in_comparison with $567,453.91, a drop of $26,122.53. Miscellaneous income amounted to $14,543.12 against $12,329.93, an increase of '$2,213.19. Gross corporate income totaled $555.874.50 as against $579,- 783.84, a difference of $23,909.34. After all the usual deductions from gross, the power company reported a net income in January of $479,733.40 against $502,024.94, a falling off of slightly over $22,000. Street Railway Earnings Lower. The Washington Railway & Electric Co. filed its January financial statement with the Public Utilities Commission to- day, showing operating revenues of $355,309.61, against $403,443.60; oper- ating expenses and taxes of $328,934.08, compared with $355,006.15, leaving an operating income in January of $26,- 375.58, in comparison with $48,437.45. Non-operating income was practically the same as last year. Gross stood at $49,438.72. against $72,198.87. Deduc- tions from gross were $54,232.81, against $54,027.16, leaving a net deficit of $4,- 794.09, compared with $18,171.71. COMMODITY PRICE INDEX DECLINES DURING WEEK By the Associated Press. Wholesale commodity prices slid off slightly last week as the trend was measured from a list selected by the Commerce Department. In the table that follows the index for all prices is given=for comparable periods, based on Tepresenting 1926 levels as 100. In ad- dition the average selling price for a ton of composite steel products is given for like periods: All commodities. Steel. Week ended February 25. 55.1 $28.31 Previous week . 554 $2831 Same week last year. 63.7 $20.53 POTATO MARKET. CHICAGO, March 2 States Depa atoes, 66 cars; on track, 181; United States shipments, 894; trading, very slew; supplies moderate; Wisconsin round whites, 70a721;; un- classified, 6212a65; Michigan russet rurals, 70a72',; Idaho russets, 1.12%ca 117 Colorado McClures, 1.25a1.30. Employment Increase. NEW YORK, March 2 (#).—January employment in the silk industry was 4.5 per cent higher than for the same month last year and 4.6 per cent under December, the Silk Association of America said. INVESTMENT TRUSTS NEW YORK, March 2 (#)—Over- the-counter market: (Quotations as of 12 o'clock.) Am Bank Stock Corporate Trust .. Corporate Trust A'A". Tr A A mod... 3 mol Corporate Trust Acc OTE—Tod: Sales 'oF Cach siock ~—Prev. 1933—~ 110 5 15 46% 10% 3 10% 14% 50 60 9% 19% 3% 8% 1% 3013 20% 8% 33 6% 4 &% 20% 6% 20 25 111% 111% 9% 12% 2% 813 6 138 38% 41l 102 1% 19% FINANCIAL. THE EVENING STAR WASHINGTO D. C., THURSDAY, MARCH 2, 1933. FINANC TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE divid e cation Stock and wuividend Rate. Ad ‘Adams Express..... Adams Millis (2). Addressograph...... Adv Rumley. “ Affiliated Prod 1.60. . Air Reduction (3)..., Alaska Juneau (60¢) . Alleghany Corp..... Alleg Corp pt $30ww, Alleghany Steel. .. .. Allied Chem & D (6) .. Allis-Chalmers Mfg. ‘Amal Leather pf.. ‘Amerada Corp (2)..a Am Ag Chem (Del).. Am Bank Note Am Can (4). Am Can pt (7). Am Car & Foundry Am Chain pf. . Am Chicle (13) Am Come’l Alcohol. ‘Am European Secur sales are n es— Am & Foreign Pwr, .y Am & For Pw pf (7). Am & For Pw 2d .o Am Hide & Leather. H Am Hide & Leath pf., ‘Am Home Prod 4.20.. Am Ice Co. “or Am International. Am La France&Fo Am Locomotivel. . Am Locomotive pf. .. ‘Am Mach&Fdy (80c) . Am Metal Co. . Am News (1%).... ‘Am Power & Light ; Am Pwr & Lt pf (3)., Am Radiator. ... ‘Am Rolling Mills. Am Safety Razor (3). AmSm & e Am Sm & Ref 7% pf. ‘Am Snuff (13%) Am Steel Foundry... Am Stores (1215). .. ‘Am Sumatra Tob. ... Am Tel & Tel (9).... 9 Am Tobacco (5)..... 4 Am Tobacco (B) (5). % Am Tobacco pf (6) .. Am Type Fdrs pt. ‘Am Water Works(1). ‘Am Wat Wks etfs(1), Am Woolen. . « % Am Woolen pf. Anaconda Copper. 3 Archer-Daniels (1) .« a Armour of 111 (A). Armour of 111 (B). Armour of Il pf. . Associated Apparel.. 4 Asso Dry Goods. Atchison. ... Atchison pf (5)....u Atlantic Coast Line. . % Atlantic Refining(1). Atlas Powder pf (6).. Auburn Auto (d4)... 5'¢ Aviation Corp (Del). Baldwin Locomot. ..; Baldwin Locomot pf. Baltimore & Ohlo. ... Baltimore & Ohio pf. Barnsdall Corp = Beatrice Creamery Beech-Nut Pkg (3). . Belding-Hemingway ., Belg N Ry pt pf 4.09.. Bendix Aviation..... Bethlehem Steel. ..., q Bethlehem Steel pf Blaw Knox i Bohn Alumn & Brass. = Borden Co (1.60) Borg Warner. Briggs Mfg Co...... Bklyn Manhat Tran.: Bklyn Man Tr pf (6). Bklyn Union Gas (5). Brown Shoe pt (7)... Budd (EG) Mfg pf.. 5 Bullard Co. E Bulova Watch. 4 Burrough A M(40c). 1 3 Bush Term deb stk 10% Bush Term pt (7). %, Butte Copper & Zinc.. 1 Butte & Superior 815 Byers (AM).. 32 Byers (A 814 California Packing. . 2 Calumet & Hecla. . 714 Canada Dry G A (1). 7' Canadian Pacific 40'% Case (J 1) pf (4) 5% Caterpillar Tractor.. 2% Century Rib Mills. 57 Cerro de Pasco. 24% Ches & Ohio (2%)... 147 Chesapeake Corp (2), 3% Chi Great Westn pf.. 1'3 Chi Mil StP & Pac pf. 2% Chi Pneumatic Tool., 6% Chi Yellow Cab (1).. 2 Childs Company . . 8% Chrysler Corp (1). 3% Coca-Cola Co (7). ... 7% Colgate-Palm-P (1)., 3% Collins & Alkman.... 4% Colo Fuel & Iron Coiumbia Gas (bl) 60 Columb Gaspf A(8). x 23% Columb Carbon (2).. 4 Commercial Credit. . 19% Comel Cred pt (1%) 72% Comcl Cred 1st(632). 181 Comcl Inv Trust (2). 104 Comel Inv Tr pf 635, 8¢ Comcl Inv cv pf(e6). 9 Comcl Solv (60c).... g Comwlth & Sou pf(6) Congol-Nairn (60c) .+ ~onsol Film pf.. 4 Consol Gas N Y (4).. Consol Laundries. Consol Oil Corp Contl Baking pt ( Contl Can (2)... Contl Motors. ... Contl Oil (Del) Cream of Wht 2% Crosley Radio. Crucible Steel... Crucible Steel pf. Curtis Publishing. .‘ Curtis Publish pf(7). 21, Curtiss-Wright (A).. 75% Cushmans pf (7) . 1% Davega Stores (h3).. 1 Davison Chemical..w 37% Delaware & Hudson.. 17% Del Lack & Westn. .« 173% Diamond Match (1).+ 263% Diamond Mach pf 1% 10% Dominion Stores 1.20 10% Doug Afreraft (75¢) . 33 Dupont de Nem (3).. 100 Duquesne Lt 1st (5). 504 Eastman Kodak (3) .. 3% Eaton Mfg Co....... 1 Elec & Musical Instr, 3% Elec Pwr &Lt.....0s 21 Elec Storage Bat (2); 20% Eng Pub Sve pf (5).« 6% Equitable Of BId(1).. 5 Erie RRIStDL...... 1% Fed Water Service A. 1213 Fidelity-Phoen 1.20.. 44% First Nat Strs (215). 413 Foster-Wheeler. ... 13% Fourth Nat Inv 1.10.. 1% Fox Film (A)... 1 Gabriel Co (A) < 2% Gen Am Investor: 3015 Case (J 1) Co.. 14 Cent Aguirre (1%) 1 Certain-teed Prod. .. 115 Chi Great Western 3 Chi& Northwestern.. 6 Chicasha Cotton Oil. 9 City Ice & Fuel (2)..: 59 Colg-Palm-P pf (6).. Col & Southn 2d pf 10% Columbia Pict vtc. ... 16 Comc'l Credit (A). ... 19% Comel Cred pf B (2). 104 Comcl Inv Tr pf (7 1% Comwlth & Southn Consol Cgr pr pf 6% Consol Gas NY pf(5), Consol Textile. Contl Insur (1.20). Corn Products (3)..« Crown Cork & St & Cuban-Am Sugar Curtiss-Wright. . . 4% Cutler Hammer. 6% Deere & Co pf (200).. 54 Detroit Edison (6)..3 12 Dome Mines (11.30).. 31 Druglne (3)........ 1% Eastern Roll Mills.., 11% Elec Auto-L (1.20) 10 Elec Pwr&Lt $7pf. .o 241 Eng PSpf ww (534). 42 Fed Lt & Trac pf(6 91; Firestone T & R (1).. 2 Foundation Co. 16% Freeport-Texas (2).. 13% Gen Am Tank Car(1}, T% 4% Gen Asphalt.....cdl = me [P - TR P 3 3 5 o w3 DOMBAmANE BRAWNA wlon & given in this edition. from yesterday's paper. d 00 High. Low. Close. Chge. 9 38 3% 3 % NOTE—Today's individual sales Sales of cach stock In this edition —Prev. 1933 High. Low, 13 Gen Baking (2) 6% Gen Cable pf... 10% Gen Electric (40¢)... 11% Gen Elec spec (60c).. 21 GenFoods (2)... % Gen Gas & Elec (A).. 24% Gen It Ed El (a2.06).. 36 Gen Mills (3).. 4 Gon Mills pf (6). Gen Motors (1). . Gen Motors pf (5). 4 Gen Puflic Service Gen Ry Signal (1)..¢ Gillette Saf Raz (1) .3 Gillette Saf R pf (5)w Gimbel Bros. Gimbel Bros pf % Glidden Co... Gold Dust (1.20). Goodrich (B F) Goodyear Tire&Rub. Goodyr T&R pf (2) .« Gotham Silk Hoslery. Graham-Paige. Granby Consol. % Grand Union. % Great Northern pf... Great Northern Ore. . Great West Sugar. .. Great Wn Sug pf(7). Grigsby Grunow. 2% 1% Hahn Dept Stores. . .. 14% 10 Hahn Dept Stores pf. 52 45% Hannapf (7).... 18 15 Hercules Powder 95% 871 Hercules Pow pf (7 7 31 Holland Furnace 3% 214 Hollander Sons 169 145 Homestake Min (9).. 214 114 Houdaille-Hersh(B). 51% 49 H&usehd Fin pf 4.20. 15% 8% Houston Oll... . 3% Houston Oil (new).. 8% 53 Howe Sound (40c). .. 16% 11% Hudson & Man (234). 6% 3 Hudson Motor Car... 314 1% Hupp Motors. . 5 10'4 Illinois Central. . 82% Illinois Cent11 (4) 15 Indian Motor Cycle 7 Ind Motor Cyele pf.., 28% Industrial Rayon (2) 12 Inland Steel..... 2 Inspiration Copper 2% Insuranshrs Del 15 4% Interboro Rap Trans. 75% Int Bus Mach (6).... 27 Int Carriers Ltd 20c.. 615 Int Cement. ... Int Combustion 3 Int Harvester (60c).. 4 Int Hydro-Elec (A).. Int Merchant Marine Int Nickel of Can.... Int Paper & Pwr (B). Int Paper & Pwr pf.. Int Printg Ink pf (6), s Cent Am pf.. t (1%) Net. | sxeerrss [RESNE 3] IBET AR Z RN 1Li+i+l1 ver.. Int Silver pf. Int Tele & Teleg. ... 2 Interstate Dept St... 14% 11 Island Creek Coal(2) 23% 13 Johns-Manville 11 sas City Southn.. 4 Kelvinator Corp. Kennecott Copper. lark. . Kresge (SS) Co (1).. Kresge (SS) pf ( Kroger Grocery (1).. FEtr+ sl L+ Lambert Co (4).....1 37 Lee Rubber & Tire. .. 1% Lehigh Valley Coal., 8% Lehigh Valley R R... 3715 Lehman Corp (2.40).. Lehn & Fink (2). % Libbey Owens Glass. Ligg & Myers B (15). Lima Locomotive...; Liquid Carbonic..... Loew’s Inc (3)...... Loft Inc : Loose-Wiles Bis (2). 10% Lorillard (P) (1.20). 21% Louisville & Nash. 14% 4% 18% 6% €3% 1425 147 21 14% McCall Corpn (2) 1 McCrory Stores. .. 18% MeclIntyre P M(f1%). 44% McKeesport TP (4).. 17 McKesson & Robbins 131 Mack Trucks (1). 24% Macy (RH) & Co (2). 5% Magma Copper(50c). % Mallison & Co....... 6 Manhat Elev mod gtd 7% Marine Midld (80c).. 2 Market St Ry prpf. . 15 Marmon Motor Car.. 4% Marshall Field & Co., 14 Mathieson Alk (1%4). 9% May Dept Stores (1). 1% Miami Copper....... 37% Mid Continent Petm., 3% Midland Steel Prod 5% Mo Kan & Texas. 1134 Mo Kan & Texas p: 2% Missouri Pacific. 31 Missouri Pacific pf..: 2514 Monsanto Chem 1% .. 8% Montgomery Ward 7% Motor Products. 1% Motor Wheel. . 3% Mullins Mfg. 3% 1% Marray Corp. 15% 11% Nash Motors (1). 20% 13 2% 1% 41 31y FEEOF FFE F ER PEE XSG F P EER | - S % Nat Lead pf A (7). Nat Pwr & Lt (1) Y Air Brake. N Y Central. . # NY Chicago & StL. CChi &St Lpf N Y & Harlem (5). N Y N H & Hartford. Y N H& Hart pf... NY Ont & Western.. N Y Shipb'ldg (10¢).. N Y Shipbldg pf (7). N Y Steam 1st pf(7). Noranda Min (a1.10). Norfolk & West (8).. +111+ EFRE FEEES North Am (b8 %stk) . North Amer pf (3)... 10% 1% Norwalk Tire & Rub.. 4% Ohio Oil.... 1% Omnibus Corp 10% Otis Elevator (1) 9812 Otis Elev pf:(6) 15 Otis Steel. ... 21 Otis Steel pr pf. 32 Owens 111 Glas 24 Pacific Gas & El (2).. 30 Pacific Lighting (3).. 106% Pacific T & T pf (6).. 81 6 Pacific Mills 2% 2 Packard Motor Car.q 12% 12 Pan-Am Pet B (80c). 2% % Paramount Publix. 1% % Park Utah 3, % Pathe Exchange. 2% 1% Pathe Exchange ( 5% Patino Mines. .. 26% Penick & Ford (1) 20 Penney (JC) (1.80) % Penn Dixie Cement 4% Penn Dixie Cmt pf. 13% Penna RR (h50¢c). ... 52 Peoples Gas Chi (5).: 4% Pere Marquette.....: 6 Pere Marquette pr pf 4% Petrol Corp of Am 4% Phelps Dodge. 2% Phila & Read C 4% Phillips Petroleum. . 3% PierceOil....... 5 Pierce Petroleum 9% Pillsbury Flour(60c); 6% Plymouth Oil (1).. X ARE - 13% 102 4% 10% 37 31% 43% 110 +ll'l.|| #F [ BRed § REEE SRELEE E$p +LHL U T% Prairie Pipe Line. % Pressed Steel Car. . 3 Pressed Steel Car pf. 19% Proctor & Gam(1%). 38% Public Sve N J(3.20). 79% Public Sve NJ pf (5). 87 Public Sve NJ pf (6). 4 Postal Tel&Cable pf.. ¥ Recelved by Private Wire are fro Stoc Sales— Dividend Rate. Afla(;o = SRR SFESEIER 2 1 +3 & FEFFAE = » =S PPN P L - T T YCTSToY- [P E 2 - 1104 308 o he SruBanblfivnm~an oo &8 =i 0000 O O €9 0080 19 00 O BO 1D 19 T 15 O s 20 D {8 S T [ 6, 1Hl++ [ ELPFELREST 3 FaE 308 160s 35 1 100s 9 258 2 1 8 49 4 1 96 PubSvc G&EDf (5). x 1 18 Pullman Corp (3).... 2% PureOil..... 39% Pure Oil pf (2). .. 5% Purity Bakerles (1). 8 Radio Corp........a % 6 14% - 18% Radio Corp pf (A).. %~ % Fu 6% Radlo Corp ot (Byesa 32 32 -% 1108 -6% 3 6% — % 3% + % 17 ™+ % 218 6 18% + % Direct to The Star Office. NOTE_Today's individual sales are not Sales of each stock in this edition are —Prev, 1033~ Stock and High. Low. _ Dividend Rate. 1% Radlo-Keith-Orph... 24 Reading Rwy (1). 26% Reading 1st pf (2). 2% Remington-Rand. T% Rem Rand 1st pf. 1% Reo Motor Car 4 Republic Steel re Copper. Revere Copper (A). 60 Reynolds Tob A (3) 2615 Reynolds Tob B (3).. 3% Rossia Ins of Amer 17% Royal Dutch. . 30% Safeway Stores (3). 6% St Joseph Lead. 7 St L-San Francisco.; St L-San Fran pf. Savage Arms..... Seaboard Ofl (+50c) Sears Roebuck. Second Nat Inv p Seneca Copper Servel Inc.... Sharp & Dohme. Sharp & Dohme pf(2) Shattuck(FG) (50c). Shell Union Oil....... % Stmmons Co. . Simms Petrolm ( Snider Packing. Socony Vacuum 40c. So Port Ric Sug 1.60. Southern Cal Ed(2).. Southern Pacific. ..., Southern Railway... Southern Railway pt Spicer Mfg pf (3)..., Standard Brands (1). Stand Gas&El (1.20). 4 Stand Gas&El pf (4). Stand Gas&El pf (6). Stand Gas&El pf (7). = - e a3 TN - T e Y LT Y T 4 T T L e T - rever ey =l we e Stand OIINJ (1). erling Sterling Secur pf.... Sterling Secur cv pf. Siewart Warner Stone & Webster. Studebaker Corp. Sun Oil pt (6 % Superior Oi1 Telautograph (1)..., Tennessee Corp. Texas Corp (1). Tex Gulf Sulphur (1 Tex Pacific Coal&Oil. Tex Pacific Land Tr. Third Avenu - Tide Water Asso Ofl. Tide Wat Oil pf (5).. Timken-Detroit Axle Timken Roller Bg(1) 21 Transamerica Corp.. 60 Tri-Contl Corp. Trico Products( Und-Ell-Fisher (50c) Union Bag & Paper.. Union Carb & C (1). Un Ofl of Calif (1). Union Pacific (6).... Union Pacific pf (4). Un Tank Car (1.40).. yesterday's paper. given in this edition, Low. 511 10% 514 29% 2 USC USC 4 US Leat U S 4 -Car C Webster West Pa West Pa West Pa 4 WestPa Western Western We W Westing NOTE—Today's individ Sales of e: ock In thi: Stock and Dividend Rate. 16% Unit Aircraft. .. Unit Afreraft pf (3).. I Unit Carbon. 4 1 1 Unit Corp (40¢) . 5 | Unit Corp pf (3) % y ctric Coal. .. % U S Pipe&Fdy (50c). U S Realty & Imp. ... 7S Rubber. . U'S Rubber 1st pf. 4 = % tg & Ref (1).. T te&Ref pt 3 U S Steel pf (2). U S Tobacco (4.40) iv Leaf Tob pf(8). Univ Pipe & Rad. ... Univ Pipe & Rad pf.. 2% Util PRr & Lt (A)... 8 Vanadium Corp. Chem 6% pf. 3 a3 12% Vulcan Detinning. % Walworth Co. . . 4 + % % Ward Baking pf (2). 1 % Warn Bros Pictures. 1225s ‘ % | ‘Warren Bros. ... . 9 3 W Warren Found & P 4 “ i Webster-Eis Wesson O&Snpf (4). 1 West Pa Elec A (7).. 10 al sales are not given in this edition. tion are yesterday's paper. Net. Low. Close. Chge. 16% 17% — % 524+ % Bale: Add 00. High. 67 17% Unit Gas&Im pt (5).. U'S & Forn Secur U S & Forn Sec pf. J psum (1). ypsum pf (7) 45 U S Ind Alcohol . her (A). . + % —1% + % Eisenlohr.. 13 nihr pf. 50s Elec pf (6). Elec pf (7). Pwr pf (6).. Pwr pf (7). Maryland Pacific pf 10s T8s 108 110s tern Union. Air house 5 Westinghsy Westvaco Chlorine ‘Wheeling Steel pf White Rock M S (2) Wilcox Oil & Gas Willys-Overland Wilson & Co pf 25 97 34% Wrigley 4% 28 19 6% 4% Young 133 7% You 2% Yellow Truck. Yellow Truck pf. Woolworth (2.40). Worthington Pump. . (Wm) (3) 5 3% Zonite Produects..... Sales of Stocks on New York Exchange. 10:30 AM. > M. Dividend rates as 160,000 12:00 Noon 590,000 2:10 P.ML given in the above table are 400,000 740,000 e annual cash payments based on the latest quarterly or half-yearly declarations. sUnit of trading in stock. a Paid € Payable in cash 1Plus S1 in special preferred stock m Paid last year—no regular rate., G Plus 5% in stock. "s | o Pavatle i ser less than 100 shares. this year—no regular_rate. or stock. {Plus 8<% in stock. k. k Plus 3% 1m 1Partly extra. 3Plus b Payable in h Plus CORPORATION REPORTS TRENDS AND PROSPECTS OF | | LEADING ORGANIZATIONS. | | NEW YORK, March 2.—Followmg 1s today'’s summary of corporation news prepared by Stondard Statistics Co., | Inc, New York, for the Associated | Press: Automobiles and Trucks. General Motors Corporation—Num- ber of employes of company increased by 2917 during January, bringing in- | creases in past five months to 29,293; | Chevrolet’s March production schedule calls for 50,000 cars. Automobile Parts and Tires. Motor Wheel Corporation proposes to change stock from no-par to $5 par, re- ducing stated value from $10,000,000 to $5,000,000. Young (L. A) Spring & Wire Co. 1932 deficit was $196,223, vs. net income $521,728. Building, Real Estate and Related Lines. | Johns-Manville Corporation passed | quarterly dividend of $1.75 on preferred stock. U. 8. Gypsum Co. declared dividend of 25 cents on common stock; pre- viously 40 cents a share was paid quar- terly. Electrical Equipment and Radio. Cutler-Hammer, Inc, 1932 deficit $738.110 vs. deficit $501,019. | Electric Storage Battery Co, 1932 common share earnings $1.39 vs. $3.05. Western Electric Co, Inc. an- nounced reduction of 1v per cent in pay of all employes, effective April 1. Household Products. Brillo Manufacturing 1932 common share earnings 39 cents vs. $1.40. Leather and Shoes. International Shoe Co.—Company is retiring 50,000 shares of 6 per cent| cumulative preferred stock, par $100, at $105 a share. Metals (Non-Ferrous). Mohawk Mining Co. 1932 deficit $268,161 vs. deficit $9,513. Oil Humble Oil & Refining Co. cut prices of Panhandle crude oil 6 cents to 11 cents a barrel. Standard Oil Co. of Ohio advanced prices ot all grades of gasoline 1 cent a gallon throughout its territory. Railroad and Railroad Equipment. Chicago, Indianapolis & Louisville Raiyway January net operating deficit $90,599 'vs. deficit of $29,357. Chicago, Rock Island & Pacific Rail- way 1932 deficit was $9,956,800 vs. deficit $386,545. Florida East Coast Railway January net operating income $154,156 vs. $173,- 276 in January, 1932. General Steel Castings Corporation 1932 deficit $2,519,713 vs. deficit $3,- 006,118. Missouri Pacific Railroad January net operating income $321,098 vs. $320,229. Norfolk Southern Railroad January net operating deficit $98,910 vs. net deficit $75,016 year ago. Retail Trade. McLellan Stores Co.—Report of trus- tee in bankruptcy for company states that four stores of company have been closed and that 17 more are about to be_discontinued. Penny (J. C.) Co. declared a quart- erly dividend of 30 cents on common stock; formerly paid 45 cents quarterly. Theaters, Ete. Loew’s Inc. declared a dividend of 25 cents on common stock; formerly paid 75 cents quarterly. Utilities. American Water Works & Electric Co. 1932 common share earnings, $1.42 vs. $2.80. Continental Gas & Electric Corpora- tion declared dividend of $1.25 on com- mon stock; on January 2, quarterly of $1.10 and an extra dividend of $1.80 a share were paid. Pederal Light & Traction Co—Action on common dividend postponed until March 8 meeting; on January 4, !uid 25 cents in cash and 1 per cent in stock. Middle West Utilitles Co.—Banks and other creditors of company have agreed to reduce interest on collateral loans to 4 per cent from previous rate of 5.7 per ]clent, cutting charge by $273,000 an- nually. Milwaukee Eleciric Railway & Light Co. 1932 combxnle;l &“ufled share earn- ings, $6.41 vs. $12.88. West Penn Electric Co. 1932 class “A” share earnings, $35.72 vs. 96. + Wisconsin Power & Light Co. declar- |¢dd1vldendgo!sllnhmon6 per cent cumulative preferred stock and $1.16 7 per cent cumulative prefe !=1l to about $3,000,000,000. BANKING HOLIDAYS. TIE UP HUGE SUMS Largest Totals Involved in‘ Maryland, Michigan, Ohio | and Indiana. Special Dispatch to The Sta NEW YORK, March 2.—The amount of bank deposits subject to withdrawal restrictions during various State and local “holidays” declared in February approximate the net amount of deposits affected by bank suspensions in the past three years The largest totals in the first classi- fication are of bank deposits in Mic! gan and Maryland, where State-wide, restrictions are imposed, and those in Ohio and Indiana. They amount in| in the| years 1930, 1931 and 1932 the deposlls“ of suspended banks aggregated § 500,000,000. In the same period bani with total deposits of approximately $500,000,000 reopened. Depositors in banks that are still in receivers’ hands have been paid out in varying amounts. The average per- centage of all is not high and would be considerably balanced by the fail- ures and the locking up of deposits | that have occurred in the first two months of 1933. Bank Failures Redueed. | ‘The falling off of bank failures this year has been in sharp contrast with the mortality record of the three years| previous, owing to restrictions on with- | drawals put _into effect by emergency | laws enacted in Michigan, Maryland, | Delaware, New Jersey, New York, Ne-| braska, Wisconsin, Pennsylvania, Ohio, | Iowa, Florida, Arkansas and Oklahoma. The change is one from a condition| where the depositor faces an indefinite | period of loss of the use of his money and the probability of an eventual heavy shrinkage in his deposit to one| of temporary inconvenience through inability to withdraw more than 5 per cent of his deposit and the prospect of having 25 per cent or more of it tied up for & considerable period under the | proposed segregation of “frozen" assets and quick assets. This means an ex- tended interval of slow liquidation of | the liabilities of his bank under an im- | provement in the market conditions for real estate or securities not now saleable. Obviously, the increasing restrictions | on withdrawals are leading to a great amount of hoarding of money through- out the country. It is the opinion of bankers that the sum of this consider- ably exceeds that sequestered in al sorts of places a year ago. Probably | the most serious effect of this condition is on the business life of those commu- nities whose banks have invoked the limited withdrawal provisions embodied in the new State laws. It has been ely dificult, for instance, for corporations to obtain sufficient cur-| rency to make up their pay rolls. One | of the first reactions of the Maryland “holiday” was the urgent demand on | lWashington Produce WHOLESALE PRICES. Butter—One-pound prints (93 score). 22; tub, 21; one-pound prints (92 score), 21; tub, 20; one-pound prints (91 score), 2 tub, 19; one-pound prints (90 sccre), 19; tub, 18. Eggs—Hennery white, 14ald! ent receipts, 121:213)2; Governmen graded, extras, 18!2; standards, 17; mediums, 17. Poultry, alive—Turkeys, hens, young, 16a20; old, 12al4; toms, 13al4; old, 8a 10; chickens, hens, 10all; Leghorn hens, Winter chickens. 12al4; stags, roosters, 6a7; Plymouth ; fryers, 17a19; ens, 14a16; keats, young, 25a40; old, 15a 20; capons, 7 to 9 pounds, 18; 5 to 6 pounds, 15. dressed — Turkeys, ; old, 15a17; toms, youn cld, 11a13; chickens, hens, 13a Legkorn hens, 11al2; Winter chicl ens, 15a17; stags, 11al Plymouth Rocks, broilers, 21a23; fryers. 20a2! mixed coiored 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 hams, 13; strip bacon, 13; lard, 7':; compound, 7. Live stock—Hogs, light, 3.50a3. medium, 3.50a3.85; heavy, 3.50a3 pigs, 2.503.50; roughs, 1.50a2.7 3.0026.00; lambs, 3.00a6.00. Fruits—Apples, fanc: 1.75a2.00; bushel baskets, peaches, 3.25 pears, plums, 3.50; apricots, tarines, 3.50; mandarine: oranges, 2.50a3.5! lemons, 3.50a 4.50; tangerines, 2.00a2.25; grapefruit, 2.25a2.75; limes, per 100, 2.00; bananas, 1.00a2.5¢ alligator pears, 3.50a4.50; honeydews, 2.50a3.50; pineapples, 3.00a ; Spanish melons, 6.00a7.00; kum- quats, quarts, 20; rhubarb, 40a50; cran- berries, 3.25, grapes, Almeira’s, Arge: tina, 3. California, 2.50a3.00; stra berries, 4.00a6.00. Vegetables— New York, 100al.15 1.75; Idaho bakers, 1.75; sweets, tomatoes, repacks. 3-pan crat 1.50; lugs, 2.25; turnips, 40a5 beans, 1.50al peas, 2 . lima beans, 3.5024.00; peppers, 1.50a2.2 kale, 30a40: spinach, 50a1.25; mush- | rooms, 65a90; salsify, per dozen, 60; lettuce, iceberg, 3.00a3.25; squash, 1.75a 2.25; eggplant, 2.5083.00; beets, crates, 1.25; carrots, crates, 1.25; cucumbers, 3.0024.00; celery, 1.75; cabbsge, ne hampers, 1.25a1.50; old, sacks, 75a90; asparagus, 4.50a5.50. NEW YORK BANK STOCKS | NEW YORK, March 2 () —Over- the-counter market: Quotations_as of BANKS. Bk Manhattan (2) tl (2) (®) 2 o'clock. Chase Na Commerct Fifth Ave (*44) First Natl (100) Natl City (2) . Public (2) .. New York and Philadelphia banks by | 5 Cen H firms in Baltimore to assist them in ob taining sufficient_currency to pay off | their employes. Retail trade has been | greatly reduced in all of the commu- | E: nities where the limitation of deposi:} withdrawals has been put into effect. | One phase of the situation is the | heavy loss in deposits of New York | banks that have been compelled to go to the asistance of their interior corre- spondents. Since the middle of Jan. uary the shrinkage of the New York Clearing House institutions has amount- | ed to about $550,000,000, or nearly § per cent, and has reduced by half the total gain in deposits which these banks had enjoyed from the low point to which they dropped last Spring. The | two largest New York institutions have in the past six weeks each lost approxi- mately $100,000,000 in deposits. Movement Spread Rapidly. The swiftaess of the movement in the East toward deposit withdrawal restrictions is fillustrated in the case of las communities in the Middle West that a few days ago were positive they could carry on as before, but which, within 24 hours of the an- nouncement of limitation of with- drawals in other sections of their State, have n compelled to adopt similar restrictions. ‘With this condition spreading so rapid- ly, it is felt that the final solution must be some sort of Government guarantee or insurance of bank de- posits, although the idea is not popu- lar with many bankers. Objections to it have been raised by the conservative elements in Congress. It is at the moment not in favor with the finan- cial representatives of the Govern- because of the possible effect Government stocks; ent of dividends is subject to approvel of Teduction of common stock ment, that it might have on o] (Copyrigh, 1033.) Chem| Centinental (1.20) Corn Exch (4) ... ‘mpire (1.60) . Guaranty (20) rving (1.60) . Manufacturers 0) *Including extr ‘Wool shipped from Australia in the latter half of 1932 broke all records. | | | TAL. STOCKS IRREGULAR INLOWER MARKET Selling Pressure Is Distrib- uted Over Whole List. Losses Small. BY GEORGE T. HUGHES. Sperial Dizpatch to The Star. NEW YORK, Merch 2—Weakness *|in other markets, particularly in that 1!01’ United States Government bonds, | put a severe strain on stocks today and | they reacted. At one time stocks were off as much jas 3 points for important issues, but | right at the close there was a rally which cut down the decline to very medest losses. In part the relatively better perform- f stocks and of bonds could be ned by covering operations. That, ever, was not the sole reason. The | market was sustained by the bellef that | relief measures were being formulated | adequate to deal with the situation. | Government bonds were weak all day and so were high-grade corporate is- sues. Here there was no rally at the end. Most commodities were down, the exception being silver, which in midaft- | ernoon was up 50 to 75 points. Wheat closed down 33a%;. Sugar reacted rather sharply after its recent strength., and cotton locally was depressed. The New | Orleans Cotton Exchange was closed | because of the banking holiday in rates continued to harden for same reasons that made for the selling of Government bonds, namely, the drain on the supply from the de- mands of the interior banks. Foreign exchanges advanced against the dollar again, with special strength in sterling. Prices opened lower and gave way irregularly throughout the morning, with losses which, in a few cases, ran |to as much as 3 points. And yet it | never could be said that the market was actually weak. Under the circum- stances it gave an amazingly good ac- count of itself. Opinion in speculative circles was 1| that to sell stocks unless one was forced to sell was the heighth of folly and that to sell short was flirting with disaster. When a financial crisis becomes as cute as this one has, experience teaches that the turn is not far away. | When_the fear psychology is once con- quered the rebound is as violent as the original reaction had been, often more s0. The selling in the morning was not uniformly distributed. U. S. Steel pre- ferred slipped off to a new 1933 low and han 2 points above its bear market American Telephone was off 2 to 3 points, but up to noon was still above | the low of the week. Allied Chemical, American Can and other pivotal indus- trials were down fractions to 2 points or so. Johns-Manville made a new low, reflecting the adverse action on the pre- ferred dividend yesterday. Loews, on which the dividend was cut to 25 cents om 75 cents quarterly, reacted. In railroad list Union Pacific was down point and Atchison down twice as much. The encouraging fact was that the wer rénge of quotations did not bring any liquidation. Instead, prices recovered a part of the loss when~ ever the pressure was lifted. U. S. TREASURY LIBERTY BONDS Bought. Sold and Quoted COLONY COMPANY Met. 2321, 612 Wash. Blds. STATEMENT OF THE CONDITION OF THE London Guarantee and Accident Company, Lid, Of New York, N. Y., on the 31st day of December, 1 as'required under Sec- tion G47 of the Code of Law for the Dis- trict of Columbia ME. Net premiums .. Total interest and rents. . Other income e Total income DISBURSEMENTS. t paid policy for losses s disbursements Total ments Real estate 1.918.013.33 173,101 90 All other assets 555 r:" Gross assets [t o Total admitted assets $14,504.125.04 LIABILITIES. unpaid claims 36, uncarned premiums Other liabilities . 5 Capital deposit Surplus over all lial Total Tcial District of Columbia. S34RRT 50.00 44.54 3.488.81 28,383.00 au Workmen's compensation Fidelity .... Surety i Plate glass . Burglary and theft 2 Steam boiler . Machinery . suto property damage Auto collision . Property. 731.856.24 64,07476 28.444.31 01204 46 L8TT.03 S AINES ' U.'S. Manager. H. LLOYD JONES. Comptroller cribed and sworn to before me thls th day of February, (Seal) H_ W. BEAL Notary Public. New = York Countw Clerk’s No. 48K, register's 4-B-189. Co mission expires March 30, 1934. D. M. LEA. INC. General Agents, 1410 G Sireet N.W.. Washington. D. C. Telephone Metropolitan 0480 719 Fifteenth Street MEtropolitan 3116 BALTIMORE ‘WASHINGTON WILKES-BARRE