Evening Star Newspaper, November 20, 1935, Page 17

’ - ! THE EVENING STAR, WASHINGTON, D. C, WEDNESDAY, NOVEMBER 20, 1935. FINANCIAL, |CURB LIST MIXED |"ote on e s $12.686,000 SHIFT LATE IN SESSION INASSETS URGED Utilities and Few Specialties Westinghouse Air Brake NEW YORK, November 20.—Lin- Recover—Many Recent Calls for Vote on Plan to coln Printing Co. stockholders will vote December 5 on a plan whereby Gainers Down. Raise Dividend. By the Associated Press. By the Associated Press. holders of the $50 par 7 per cent pref- erence stock will receive one share for each five shares held in full pay- ment of accumulated dividends. The company proposes to redésig- nate the present preference stock as no-par 7 per cent cumulative prefer- ence, which will have stated value of $10, but will still carry a dividend of $3.50 annually. NEW YORK, November 20.—1‘!1; PITTSBURGH, November 20—Di- curb market was an uneven mixture of rectors of the Westinghouse Air Brake trend today, with heaviness marking FREIGHT CARS NEEDED. | ¢y, proposed today to transfer $12,- many of the recently strong leaders. NEW YORK, November 20 (#)— | 688,000 of its $47.581,000 capital to Utilitles and a few industrial special- | An inquiry for 500 freight cars has| “paid in” surplus, one half of which ties showed recuperative power after would be returned to stockholders in an early decline, but various other is- quarterly payments. sues continued to rule well under thel The 19,000 stockholders would re- final prices of yesterday. ceive 25 cents a share for two years A better showing was made by stocks beginning April 30, 1936. like Allied Mills, Gulf Oil, Lake Shore Board Chairman A. L. Humphrey Mines, Holly Sugar, Montgomery Ward and President Charles A. Rowan in a A and Swift Internacional, which letter calling a special meeting De- FINANCIAL. NEW YORK CURB MARKET Stock and Sales— Dividend Rate. Add 00. High. Lo Richmond Rad __ 3 3w 3 Roosevelt Field 16 Root Petroleum... 3 Root Petroleum cevprpf (1.20).. 4 Hoyal Typewriter 3 Safety CH&Lt(3). 268 81 St Anthony Gold_. 1 St Regis Paper. . 224 St Regis Paper pf 1958 50% Salt Creek P(80c) 6 6% Scovil Mfg (1) _. 100s Segal Lock & H 8 Beiberling Rubber 5 Selected Indus 5 Selec Ind pr(31;). 50s Sentry Safety Con 8 Shattuck Den Min 7 4 Shenandoah .18 Shenandoah pf 5 381y 3815 Sher-Will (4) __..100s128% 1281 128% Sher-Will pf£(8) .. 10810715 107'% 1075 Singer Mfg (16)_. 108300 300 300 Smith (A O) . 2 49 49 49 Sonotone Corp . 11 2% 2% 2% South Am Gold & Plat (a30c). 22 41 4% So Penn Oil (1.40) 16 28% 29 2 27% 27% »#8 A—17 - TIRE SHIPMENTS SHOW DECLINE IN SEPTEMBER- By the Associated Press. NEW YORK, November 20.—Ships ments of pneumatic casings in Sepe tember are estimated at 3,303,333 units, against 4,739,259 in the previous month and 3,182,903 in September, | 1934, according to the Rubber Maru. ' facturers’ Association. September pros duction was 3,786,873 units, agansy 3,992,800 in the preceding month and 2,935,958 last year. Inventories on Seps tember 30 were estimated at 8,287,823, units, against 7,805,054 on August 31 and 8,418,906 on September 30, 1934, the board does not feel it can continue | declaring regular dividends after next January 31 until earnings warrant. The company has paid $15,628,000 in dividends. More than $11,000,000 in excess of net earnings since Janu- ary, 1931. ‘Westinghouse has $16,000,000 in se- curities, inost of which is in Govern- ment obligations, and could seli $6,344,000 of this sum to make the quarterly payments without impairing its working capital. The letter asserted the move would insure payment of twice the present rate of dividend. The reduction in capital would amount to $4 per share on the 3,173,110 72-100 shares of no par value. now outstanding. The company’s main plant is in Wilmerding, Pa. Sales— Add 00. High. Low. 2:55 4 14 13% 14 1 6% 6% 6% 100 % W W 4 & & & b 20% 20% 20% 2 104 10 10% 200822% 21 22 10s132 132 132 40513014 130 Stock and Dividend Rate. Globe Under(50¢c) Godchaux Sug(B) Goldfield Consol.. Gold Seal Elec __. Gorham vtc ext (al) Grand R Var(50 Gray Tel P S (a2) Great Atl & Pac Tean-v (16) __ Great Atl & Pac Tea 1st pf (7). Great Northern Paper (1) ... Greenfield T&D _. Gulf Ofl of Pa Hall Lamp (al0c) Hartman Tob : Harvard Brewery Hazeltine Corp 11 Hecla Min (a20¢) - Heyden Chem(11) Hollinger G(165¢) Holly Sugar Hudson BM&S(1) Humble Oil (1) ... Huyler's of Del ___ Huyler's of Del 7% pf (4) Hydro Elec Secur By private wire direct to The Star. Stock and Sales— Dividend Rate Add 00. Acme Wire v.te (a87%c). Aero Suoply (B) .. Agfa Ansco B Afnsworth (a114) Air Investors Inc + AlaGrtSo (b2) .- Ala Pwr pf (7) _. 50s Alliance Invest 1 Allied Mills(az5e) 109 Allied Prod (A) 7 Alum’n Co of Am 5008 Alum'n pf (1%3) .. 200s1 Alum'n Ltd 4 Am Beverage Am Book Co (4) - Am Cap pr pf 5% - Am Cities P&L (A)(3) Am Cit P&L (B) Am Cvnam(40¢)B Am District Tel NJevpf(7) Am Equities 1 Am & For Pw war 3 Am Founders 2 Am G&E (1.40) . Am G&E pf (6) - High. Low. 2:55 45 1% 6 45 17% 46% Py ] 49 17% 258 41' 508 28 19 9 3 19% 10% 19% 10% 66 6% 1% 2% 12 10% 57 14 90% 208 50s FOREIGN EXCHANGES. NEW YORK. November 20 (P.—FPoreign exchange steady. Great Britain in dole lars. others in cents Great Britain, d. 4928 402%; 60-day bills. 4.015 mand, 6.58%: 1 5 : o FEDERAL LAND BANKS NEW YORK. November 20 (#).— Lara W, YORK. November ). —Federal (Quotations as of 3508 6 20 been placed in the equipment market by the Missouri Pacific system for its subsidiary, Internatiopal Great North- ern. NAMED BANK DIRECTORS. BERRYVILLE, Va., November 20 (Special).—C. H. Iden, Berryville 15 13 100s 37 20 3 1141 114y 1144 - 31, 312 34 4. 4% 4w ~ 8 40 38% 397 110% 110 e tourist Holland, Sweden_25.4%: Den; 218 Switzeriand, i Bpall 4.47%: Greece, (114 Czechoslovakia. 4.14 Austria i 29 27% o'clock.) 4'5 4125 6508 3 8 Southn Calif Ed 18 of (B)(1%) 1 Port A 150 Am Hard Rubber 2. s Am Laundry (40c) 200& 2 Am Lt&Tr (1.20) 23 Hygrade Food Hygrade Syl (2) 111 Pw&Lt $6 of 508 3 2508 38% Southn Calif Ed Dt (C)(13) Southn Nat G (d)- 5 11 26 | showed gains ranging up to 1z points. . physician, and J. G. Burch of Boyce have been named to the Board of cember 20 of the 66-year-old com- pany’s shareholders to discuss the mania, 0.8} 55%n; ‘To 2 Hongkong, RO 1K.%0n Argentina B H plan, said in effect: 4 98.96785, . sue dusiness outlook is good, but ! 27.85: Montreal 'in’ New Yo Rew York in Montreal, 101.03%%. n—Nomina! So'land R (20c) Spanish&Gen rets Square Deal Co Df (A)(2.20) Square Deal (B).. Stand Brewing Stand C&S (2.40)_ Stand Inv cu pt Stand Ol Ky (1) Stand Oil Ohfo Stand Pwr&Lt Stand P&L (B) Stan Sil&L(alc) .. Starrett Corp (d).. Starrett C pf (d)_ Sterling Bralsc._ Stutz Motor _ Sunray Oil B Sunshine M 1.60- Swift Intl (2) Swiss-Am El p Swiss Oil Cp el - | Capital Traction 5s—$1,000 at 96. | Tasteveast(Del)A 5 3 y 3 3% | Bid and Asked Prices. Technicolor Inc 3 Teck Hughkes(40c) 22 BONDS. PUBLIC UTILITY. Tenn Elec Pwr Bid i Tel & Tel. 4% - | Am. Tei 1st pf (7) ‘Texas Gult Prod.. 11004 & Tel. Col. Tr. bs- Anacostia & Pot. Ana. & Pol. guar. Tex P&L pf (7) Texon O&L (60c) Thermoid cu pf C. & P. Tel. of Va Capital Traction R, R City & Suburban 5 Tob Prod Ex(10c) Georgetown Gas Pot. Elec. Pow. Ci 1 1 508 2 2 50s 150s 3 5 6 LS Illum Shrs(A)(2), 50s 53 1mp Oil Ltd coupon (150c) .. 18 21k Imp Tob Canada 1 6 Director~ ~f the Bank of Clarke County here. W —_—— - 1508 Am Mfg Co ‘Am Maracaibe._ Am Meter Co Am Superpow: Am Superpwr pf. Am Sunerpower 1st pf (1) Anchor Post (d) Angostura (120¢) Arcturus Radio T Ark Nat Gas Ark Nat Gas (A) Ark Nat Gas cu pf Art Met W (40¢) _. Asso E 1 (p213s¢) AssoG & E (A)__ Asso Inv (80¢) .- Asso Rayon - Atl Coast Fisher . Atlas Corp (a30c) Atlas Corp war _. AtlasCpf A (3)_ Auto Voting » Machine (150¢) 5 Ax-Fisher(3.200A 20s Rabeock& W (40c) 200s PBaldw L bd rts(d) 170 Bellanca Alreraft 15 BlissCo (EW) . 4 Blue Ridge Corp . 10 Blue Ridge pf (3). 9 Blumenthal S s Rorne-Serysm 50c 150s ve ] ge:z(ifxl‘{rollE:P“L 17 97, | Leftcourt Realty : iy > of (12) 2 Briircorn Ay o 1 fia | Lehizh C&N(30¢). Brill Corp (B) Leonard Oil Brillo Mg (60c) 1 Brillo Mfg(2)(A) 100s : British Celanese Ltd rects Brown Forman-... Buffalo Niag & Eastp 1st pf(5) 1008 103% 1031 103'% Bunker Hill & Sullivan(a50e) - Butler Bros Cable El Prod vtc Calamba Suzar Estate (71.60) _ Can Indus Alco A. Can Indus Alco B- Can Marconi 2 Carib Syndicate. : Carrier Corp.-- 97, | Masonite C ( ~ Catalin Corp - : 111, | Massey-Harris Celanese 1st pf(7) 17 1101, | Mead Corp (The). Celluloid Corp 14 14 |MeadJobn (i3) Celluloid Corp pf 47 47 | MerrttChap&S Celluloid C 1st pf._ 91ic 911y | Merntt Chap & S Cent Hudson G & 1. pfa) E ctfs (80c) Mex-Ohio Oil Cent & S W Util__ Mich Gas & Oil Cent States Elec__ Michizan Sugar. Cent States Elec Mich Sug pt cv pf (new) _ . | Middle States ent States Elec Petrol vte (A) o 6% nf Middle States tral State: Petrol vte (B) Lo 475 | tiadie w Util () Centrif Pipe (40c) 16 1t Charis Corp (1%) 1 19 Chesebrough (14). 2008125 Chief Consol__ 1 Childs Cont _—__ 106082 Cit'es Service Cities Service pf Cities Sve pf(BB) 28 28 City Auto St (60¢) 1% 1 i Claude Neon Lts Sy Clev Elec Ml (2). a8 Clev Tractor 150 Slub Aluminum 21 i Colon Oil . i ) Colts Pat Fire - 5l 5la .fl,.‘ Arms (1%)._.. 2258 ¥ Ee Columbia Gas & . ll’sl:(i ].’:‘h‘ 138 Elec cv pf (5) 4 ”-! 13314 134‘ Columbia O&G vtc 2 1% 14 Columbia Pic (1) a8 44 44 | Com'wlth Ed (4) 18 181 Com'with & S war 2 2 o % Community Wat § Nat P& L pf (6) 350s 801 80 Como Mines at Rubher Mach 2 5% 5 Compo Shoe Mach t Steel Tar Ltd200s 15 15 ste (50c) atSugar NJ (2) 6 27 26% Consol Afrcraft at Transit (80c) 4 9% 9% Cons Copper eisner Br pf (7). 508113% 113 Consol Gas of eptune Met (A)_ 3 91, 91 Balto (3 60) New Brad O (20¢) 3 2% 2% 2% Contl Gas & Elec J Zine (2) 3508 T4 T2% 74 prof (T) = 6 64 64 Cooper Bess pf A 361 38 Cord Corp Cosden Oil Me (d) Cosd'n O Me pf(d) 1 Crane & Co 201 Crane Co pf (13) 116 Greole Petroleum_ Crocker Wheeler_ Croft Brewing Crown Cent Petr Cueno Press(1.20) Cusi Mex Mining . Darby Petr (50¢)_ Dictograph Prod.. \ Distil Corp T td (aT42c) Distillers Corp- Segrams Distilled Liquors.. Doehler Dte Cast Draper C (12.40) Driver Har (a50c) Dubelier Condens Duke Power (3) _ Duval Tex Sulph XEagle Pitcher Ld. J¥astn G&F Asso. Eastn G&F pf (A)(6) Eastn G&F prpf (41) East Malleable Iron (20c). Fastn States Pwr_ Eastn Sta Pw (A). «~ Eastn Sta Pw (B) Easy Washing Mch (B) a37%e. Edison Bros (1) .. Eisler Elec Corp - Flec Bond&Share 32 Elec Bd&Sh vf(5) Elec Bd&Sh pf(6) E] Pwr Associates El Pwr Asso (A)- Elec Pwr & Lt optl war \ ElecPwr&Lt 24 pf (A) Elec Sharehold's - Elgin Nat Watch (60c) - 258 Emp G&F 6% of 100s Emp G&F 6% %of 258 Emp P part(350c) 2 Equity Corp 8 ¥x-Cel-O A&Tool 25 ardo S (a413)- 100s ¥Falstaff Brewery - Fanny Far C(50¢) 3 Fansteel Metal 1 Fedders Mfga2sc 5 Ferro Enam (80¢c) 10 Fidelio Brewery - 5 Fire As Phila (2)- 258 Fisk Rubber 17 Fisk Rub pf (6).. 25s Flintkote (1) (A) 8 FlaP & Lof Ford MCan A 1% 32 Ford Mot France.. 1 Ford Motor Ltd (a17.7¢) Forem'st D pr of Froedtert Gr & M cv pf (1.20) Gen Alloys Gen Fireproofing.. Gen Invest Corp_. 1 Gen PubSvept . 70s GenRayonLtd A. 1 Gen Tire & Rub 508 Gen T&R pf A (6) 508 ‘AGeorgia Pw pf(6) 50s Ailbert (A C) oY Glen Alden C (11). 10 |Washington Exchange SALES. 4 Washington Gas 5s, 1958—$500 at 105'%. Capital Transit Co.—10 at 16, 10 at | 16, 10 at 16, 5 at 16, 10 at 16. pfd—10 at v 30% 41 Y 33% 13% 6'x 1% (135¢) . = Ind Pipe L (330c) Insurance Co of North Am (2) .. 100s Intl Hydro Elec System ev pf | Intl Mining (60¢). tntl Mining war__ Inti Petro (11%). Intl Petroleum reg (11%%) Intl Util (A) Intl Util «B) . Interstate Hos(2) Interstate Power 2508 B 1 10% This is not an Offering Prospectus. The offer of these Bonds is made only by means of the Offering Prospectus. . | Potomac Electric 5%2% 113. Washington Railway & Electric pfd. —4 at 108¢, 10 at 10%g, | Washington Loan & Trust Co—l1 | at 157, This,issue, though registered, is not approved by the Securities and Exchange Commission, which does not pass on the merits of any registered securities. 4 1 1 9 10 1 1 5 1 5 46 30 6 AFTER CALL. Washington Gas 55, 1958—8$1,000 at 1051 . (Del) ot - Jersey Central P&L pf (T) Jonas & Naum Jones&Laugh St =1 | Kingsbury Br (d) | Klein (DE)(t1) . Knott Corp Kolster-Brandes Am shares 31, | Koppers Gas & | Cokepf (6)_ ___ Kreuger(G)Br(1) Lake Shore M(12) Lakey Fv & Mch . ' $43,963,500 Ohio Edison Company First and Consolidated Mortgage Bonds, 4% Series of 1935 Due 1965 TO BE DESIGNATED “FIRST MORTGAGE BONDS” ON OR ABOUT APRIL 1, 1936, PROVISION HAVING BEEN MADE TO MAKE THE LIEN OF THE MORTGAGE A FIRST LIEN UPON SUBSTANTIALLY ALL OF THE PROPERTY OF THE COMPANY. f lSflls 0c 6 Asked. Amer. = 300s 6R 26 4 508 30'; 3 105103 1 10 5 Todd Shipyard (2 Toledo Ed pf (6) - Tonopah Mining Trans-Lux Daylite Pic Sn (20¢) Tri-Contl C war__ Tubize Chatillion_ Tung-Sol Lamp *_ Tung-Sol L pf(3)_ Union Gas (Can) (a10c) Union Tobacco | Unit Air war Unit Corp war Unit Dry Dock(d) | Unit Founders___ | Unit Gas Corp | Unit Gas C war __ Unit Gas Corp pf_ Unit Lt&Pw (A) Unit Lt&Pw pt | Unit Molasses Ltd (a3sc) e Unit Profit Share 2 | Unit Shoe M t215 150s USElec Pwww__ 7 U S Finishing _ 2 U S Foil(B)(60c). 21 : 9 N US & Intl Secur.. 12 3 ] A US & Int Secur LRl 1stpf ww (11).. 11 Wash. Loan & Ti USLinespf ____. 2 U S Radiator..... 7 | US Radiator pf__ 5258 | Unit Stores vte 1 Utd Verde Ex f20¢ 12 Unit Wall Paper 90 Univ Insurance 1508 Univ Prod (a80c) 100s 2 Utah P&L pf 31% 1258 Utilitles Pw&Lt . 5 Utilities P&L pf__150s Utility Equities _ 4 Utility Ea pf(313) 50s Utility & Indus 1 | 6% | Lerner Stores (2)_ Lockheed Afrxr. Lone Star Gas 30¢ 3y | Long Island Light 73, | Long Island Light pf (ANT) Long Island Light pf (B)(6) .. 2768 83'% 461, | Loudon Packing * g1, | new (+50c) a, | Louisiana L& E_. McCord Rad (B) McWill Dredg(t2) Mangzel Stores Mapes Cons (2) _ Marion Steam Sh_ | Maryr'd Cas Eas Gt B 0T i Due November 1, 1965 Wash. Rwy. & Elec. 4s. MISCELLANEOUS. | Barber & Ross Inc. 6las.. Chevy Chase Club 5'38-..C Country Club 5% M. Cold Storase b STOCKS. PUBLIC UTILITY. Tel, (9) Capital Transit Co. N. & W. Steamboat (6 Pot. Elec. Pod. 67 ptd Po. EL Pow. b} w Dated November 1, 1935 % Interest payable May P and November 1 in New York City = 820 103 - 102 u8 & BANKERS TRUST COMPANY, NEW YORK, Trustee o 508 46'. 461 2 84 B84 10 k " Coupon Bonds in denomination of $1,000 registerable as to principal. Registered Bonds in denominations of $1,000, $5,000 and authorized multiples of $1,000. Coupon Bonds and registered Bonds are interchangeable. 3 94 91y 39 9 50s 51 10% 2T% - e ~Ten— = [ Redeemable, at the option of the Company, as a whole at any time, or in part on any interest date, on at least thirty days published notice, at the principal amount and accrued interest together with the following premiums: 5% of the principal amount, if redeemed on or before November 1, 1940; the premium decreasing V, of 15, on November 2, 1940, and on each November 2 thereafter, to and including November 2, 1959; and if redeemed on November 2, 1959, or thereafter, without any premium. 1 2 1 108, 2% e 6 19 Ame. Sec. & Tr. Co. (8)... 19% , 4)__ .. Pennsylvania personal property tax not exceeding five mills refundable as provided in Supplemental Indenture. = 16% The following is merely a brief outline of certain information contained in the Offering Prospectus and is subject to the more detailed statements in the Offering Prospectus and the Registration State- ment, which also include important information not outlined or indicated herein. The Offering Pros- pectus, which must be furnished to each purchaser, should be read prior to any purchase of these Bonds American (1! Corcoran (2.50) . Firemen's 71 607 National Union = 11% TITLE INSURANCE. Columbia (.30) . Real Estate (8)_ o THE COMPANY Ohio Edison Company, 1007, of the voting stock of which is owned by The Commonuwealth & Southern Corporation (Delaware), was incorporated in Ohio on July 5, 1930, and is engaged principally in the generation, purchase and wholesale sale of electric energy and its distribution in 221 communi- ties in Ohio, as well as in rural areas. The principal places served are Akron, Youngstown and Springfield and surrounding communities. The Company owns six electric generating plants with 313,450 kilowatts total rated in- stalled generator capacity (effective capacity 286000 kilowatts, together with overhead and underground transmission lines, substations and distribution systems serving as of September 30, 1935, 182,004 active electric customers’ meters. 19 124% 124% k) | carpel Corp. (1. Lanston_ Monotype (4 Mergenthaler Linotype 4% | Peoples Drug 8 | Real Est. 4 | Security %| U Ter. Ref = | Utility & Indus pf Wdwd & Loth Com. (41.20) 40 Meoaxtels Pairol Wdwd Lothrop pfd. (1) 113 Waco Afrcraft A v Waitt & Bond (A) §Fiat. Walker (Hiram) . Walker Mining ___ Wayne Pump _ W Vva Coal & Coke Western Auto Supply (3) A West Tab&Sta(1) Willlams R C (1) | Wil 0i1-0-Mt Wil-low Cafe p: Woolworth (F W) (a73 9-10¢) Wright Harg t40c T o Yukon Gold 1% 1% Dividend rates in dollars based on last quarterly or semi-annual payment. t Al nual rate—plus extra. : Accumulated di dends. a Paid this year. b Paid last year. d Companies reported in receivership o being reorganized. e Payable in stock. 1Plus partial distribution of assets. X EX dividend. 8% 118 3 Midland Stl Prod Mining Co (Can)_. | Minn Mining & | Mfg (i60c) | Mock Jud Voe (1) Mohawk Hudson 1st pf (4) 2255 82 Mohawk H 2d pf._ 255 401: Molebdenum - 30 1% Mont-Ward A (T) 2508140 1 210 . 258 204 i S 1178 300 304, 17 Outstanding as of CAPITALIZATION September 30, 1935 Total Funded Debt* Preferred Stock, cumulative without par value (various series, ,670, Common Stock, without par value*** ; " 5 14,499,200 *0f the total funded debt, §26,83,,500 principal amount consists of First and Consolidated Mortgage Gold Bonds 5% Series due 1960 issued under the Mortgage, and $40,115,500 consists of underlying bonds. ®*The stated value of the shares of outstanding preferred stock is §100 per share. The outstanding shares $5.00 Series—1,36. ares; §6.00 Series—198,7 1 shares; §6.60 Series—28,498 shares; §7.00 Series—69,004 hares; and §7.20 Series—§,096 shares. #4407 the outstanding common stock 1,484,920 shares were stated ot §10 per share; and 2,000 shares wers sold subsequently at §75 per share, and the total consideration capitalized, so that the capital stock liability of the 1,486,920 shares of common stock outstanding is $14,499,200. PURPOSE The net proceeds from the sale of the $43,963,500 Series of 1935 Bonds (estimated at $42,913,348 OF ISSUE after deducting expenses), together with other treasury funds, will be used by the Company to provide funds for the redemption of the $40,115,500 outstanding underlying bonds, and to reimburse its treasury for $3,848,000 underlying bonds aiready retired or redeemed. EARNINGS The Income Statement in the Offering Prospectus (which must be read in conjunction with the notes thereon and appended thereto) shows the following as the Company’s Total Gross Earnings, Net Earnings (the amount available for fixed charges after provision for Federal income taxes and retirement reserve), Interest on Funded Debt, Other Interest Charges, etc. (all other interest charges and amortization of debt discount and expense), and Net Income, during the three and three-quarter years ended September 30, 1935: Years Ended Total Gross Net Interest On Other Interest Net December 31 Earnings Earnings Funded Debt Charges, etc. Income 1932 $15,639,585.25 $8,210,133.73 $3,578,905.32 $210,780.41 $4,420,445.00 1933 14,490,008.60 7,166,630.42 3,743,235.16 233,680.90 3,189,714.36 1934 15,345,735.44 7,214,034.98 3,721,694.19 222,507.22 3,269,833.57 1935°* 11,704,216.25 5,286,697.77 2,771,908.16 168,386.43 2,346,403.18 *Nine months ended September 80. The annual interest charges on the $70,798,000 bonds to be outstanding upon completion of present financing and retirement of underlying bonds will amount to $3,100,265. The Series of 1935 Bonds, the issuance and sale of which have been authorized by The Public 1935 BONDS Utilities Commission of Ohio, in the opinion of counsel for the Ce ny will be secured, pari u with the bonds of the 5% Series due 1960, by a lien on all of the physical property and franchises of the Company, subject, however, for the time being to the lien on a portion thereof of the underlying mortgages, and upon the redemption of the underlying bonds, the Series of 1935 Bonds and the bonds of the 5% Series due 1960 will be secured by a first lien on substantially all of the property of the Company. The Mortgage permits, under certain conditions, the issuance of additional bonds thereunder, of the Series of 1935 or of other series, which would rank pari passu with the Series of 1935 Bonds. The Mortgage provides for releases and substitutions on certain conditions of property covered by the Mortgage. No notice is required to be given to bondholders in connection with any release or substitution. The Mortgage provides that the Company will deposit with the trustee on or before May 1 and November 1 of each year, commencing with May 1, 1936, as an Improvement and Sinking Fund, & sum in cash equal to at least one-half of one per cent. of the maximum amount of bonds of the Company outstanding at any one time under said Mortgage. The trustee is required to set aside out of each Improvement and Sinking Fund payment the sum of $150, to be '..ff""’ to the purchase of bonds issued under the Mortgage at not more than the principal amount thereof and accrued interest. All moneys deposited under the Improvement and Sinking Fund in excess of $150,000 and any balance of the $150,000 not expended for the purchase of bonds within five months after the date for the deposit thereof may be used to reimburse the Company for certain types of expenditures, described in the Offering Prospectus, approximately $450,000 of which have aiready been made. Subject to certain terms and conditions, certain underwriters named in the Offering Prospectus UNDERWRITING have severally agreed to purchase these Bonds from the Company at 98%, or a topf:'i of $43,084,230, plus accrued interest. Such Bondsare to beoffered to the public at 100':%, or & total of $44,183,317.50, plus accrued interest. The underuwriting discounts are 2%3%, or a total of $1,099,087.50. Price 100%% and Accrued Interest 811y 391, 11 139 39y | 11% | 140 | e NEW YORK BANK STOCKS NEW YORK. November 20 (#.—Over- | the-counter market bank and trust com- panies: | 39 4 % 1674 9 103, 3% 28% 167 9 103, 3% 3758 2 Nat BA&Sh (1) __ t Fuel Gas (1) at Investors t Invest war at Leather 3 1 3 8 2 283, Bankers | Brooklyn Trust _ Central Hanover Chemical Continental _ | Corn Exchani Empire _ Guaranty _ Irving __ Lawyers County | Manufacturers N ¥ Trust Title Guaranty & Trust -. U. S. TREASURY NOTES. rted by Chas D Barney & Co) d! Offer. 5 15 27 9% 13 91y 12% 15% 4% 8813 " D 88 30 4 b IMARTINSBURG APPLE PLANT TO BE EXPANDED Special Dispatch to The Star. MARTINSBURG, W. Va, Novem- | ber 20.—Rapidly expanding business of the Martinsburg plant, National Fruit Product Co., Inc., in the north- ern section of the city, is to be met by | the erection of additional buildings for | the manufacture of apple sauce, | canned apples and kindred apple by- products. Erection will start next year. Y Merch (2) Y P&L DL (6) __ & N ¥ P&L pf (). Y Shipbldg __ Y Steam ___ 1 N Y Water Sve pf 130s Niag Hud Pwr 45 Niagara Hudson Pwr (A) war Niag Sh Md (B).. Niles-Bem-Pond. Noma Elec Corp. . | North Am L&P___ 11 North Am L&P pf 3508 Nor Am Util Sec . 2 North'n Euro Ofl_ 32 Northern Pipe Line (50c) Northern States Power (A) Northwest Eng Novadel Ag (2)-. Ohio Edis pf (6) . Ohie Oil cu pf(6) Ohio Pwr pf (6) 315 | Ohio PS pf A (7). | Oil Stocks Ltd 431 | (t10c) Outboard Mot (A) Overseas Secur . Pacific Eastern _ PacificG & E 2| 1stpf(13%) | Pac Light'z pf(6) Pacific Public Sve pf ($40c) . Pac Tin spec (a2) Pan-Am Air (1).. Pantepec Ofl ___ Parke Davis (t1). 3 Parker Pen (60c). 50s Parker Rust (13) 800s ki Pennroad Cpa20c 83 4% 3% Penn P&L pf (7). 308107% 107% Phila Co (60c) 4 10% 10 Phoenix Secur. 21 4% Phoenix pf (3) __. 3 41 Ple Bakeries(60c) 5 10% Pierce Governor . 2 i Pioneer Gold Mines Ltd (80c) 915 Pitney Bowes P M (t20e) 14 7y Pitts& L E (233) 110s 6815 Pitts Plate G1(t2) 1 991, Potrero Sugar .. 6 3% Powdrell & Alex (a50e). 2 23 Power Corp Can . Pratt & Lamb (1) Premier Gold +12¢ Pressed Meta. (a12%c) Prod Roy’'ty(2%c) Propper McCall'm Prudential Invest T 10 PubSveIndpf __ 20s 13% Pub Svc Ind prof. 50s 34 Puget Sound Pwr & Lt $5pf Puget Sound Pwr & Lt $6 nt 50s 18% 18% 184 Pyrene Mfg(a20c) 2 6% 6 64 Quaker Oats (14). 705140 140 140 Rwy&Lt Secur 268 17 7 Rainbow Lum (A) 2 Rainbow Lum (B) 1 Red Bank = 18 Reeves Dan (50c). 20 Reiter-Foster . Reliable Stor: Reybarn Co Revnolds [nv: “. Rice.Stix Dry Goods (a50c). 014 1001 Ty 17% | 68 B 5081161 4R SERIES OF 141 3 — 2 150s 1 31 25s 1 22 12 12 24% 2 16% 5 38l 508 103% 1033% 1033 1 103% 103% 103% 208110 110% 110% 10s102 102 102 12% 12% 11 1% B% 5%, 5 5 ~ GREATER RETURN FROM YOUR PROPERTY «++ Less Worry 3%, -- 1258 3 12 3 1% 3 6 21 5% 4313 - 300s 6015 5 29y 258106 29% 106 20 421, 42y 3 451 2% USE SHANNON & LUCHS PROPERTY MANAGEMENT SERVICE s Our highly organized ,service manages your property to show greater return, and substantially reduces up- keep costs because: —every item listed in the initial survey of your build- ing is checked periodically by trained inspectors. —thirty years’ experience handling properties guides our supervisors; they know when to make minor, inexpensive repairs that save you greater expense later on. 4 1%% The Underwriters have agreed to purchase these Bonds when, as and if issued, and accepted by them, and subject to the approval of Messrs. Winthrop, Stimson, Putnam & Roberts, counsel for the Under- writers. It is expected that delivery of Bonds in temporary form, exchangeable for definitive bonds after April 1, 1986, will be made at the office of Messrs. J. P. Morgan & Co., on or about November 26, 1985, against payment therefor in New York funds. 4% 40% 9% % % -- 1258 15 4% 40% 15% 9% T 4 31% 9% 34 a2 221% 215 185 154 4 13 11 e T% 6814 991, 3% 2214 2% 18Y, 150 3% 12% 11 24 26% 671 991, 31 Further information, in particular financial statements, is contained in the Registration Statement on file with the_ Commission, and in the Offering Prospectus which must be furnished to each purchaser and is obtainable from the undersigned. —we manage many apartment and business prop- erties in Washington, keeping efficient labor coet’ control and making material purchases in bulk; owner outlay is therefore considerably reduced. | ® : —through our maintenance facilities we are able to satisfy the tenant with attentions that keep him con- MORGAN STANLEY & CO. “tented and appreciative. Incorporated BROWN HARRIMAN & CO. Incorporsted EDWARD B. SMITH & CO. THE FIRST BOSTON CORPORATION LEE HIGGINSON CORPORATION E. W. CLARK & CO. STONE & WEBSTER AND BLODGET ' Incorperated 22% 11% 35 1% 11% 35 1% 19% % Y% 9% 13% 32% 300s 46 45 19% % % 9% 18% 32% 46 BONBRI GFT &MCOMPAN Y B % Incorporasi 6% 59 33 54% 26% 3% 8% ¥ 2 Let us help you increase the yield of your property—an inspection will show you how—call NAtional 2345. Ry SHA - NNON-& LUCHS Realtors *Property Management Specialists for 30 Years. 1505 H Street, N.W. NAtional 2345 4 Dated November 20, 1935. 4 4 4 8 1