Evening star., 1925-03-06
TWO TYPESETTERS
|. AT HIGHEST LEVELS
MergenthaIer, Selling Ex-
Dividend, Reaches 1886.
Phone Earnings Slump.
BY CHAs. p. sHAEFFER.

E1chanBe today, with the former more
conspicuous. Trading ex-dividend and
q per cent extra, the linotype sold 70
the extent of 20 shares at 1856, a net
gain over the previous sale of full
points. The issue was in good de-
mand, the bid" price at the close
being 1S5, with an additional point
| asked
Action of this favorite stock, which
is virtually of local origin, has been
| the outstanding feature of the Wash
lngton market during the last few
weeks. Caught wholly unprepared
oy the extra dividend action of di-
! rectors, the issue has registered an
| aoVance OF II points in the last
month. Those on the inside claim the
peak has not yet been reached
Lanston continued its orderly ad-
vance, reaching S2A on one sale OF
~ shares. Washington Gas Light was
strong, selling upward to 58Ss, while
capital Traction likewise gained TO
n. Railway common was bid up to
| lo4 t2, with no sales, while the pre-
ferred stock of this company eased
off fractionally to 81. Washington
Market Company brought 50, and 200
| shares Of National Mortgage and In
vestment preferred brought 9I
Bonds were neglected
c. d II. Earnings in Slight Drop,
/ q
| Potomac Telephone Co in January of
this year amounted to s119,7S6, a loss
OF slightly more than SO, 900 as COM
pared with the corresponding month
| OF last year. An increase of S4S,626
| over December, 1924 however, is
! 81. .160.
Total operating income Of the
| utility during the month amounted
| 10 S53s,256, as against $496,791 last
! year, while total operating expenses
aggregated s375,299, comparable with
s337,244 last year. Taxes assignable
to operations and uncollectible
amounted to s42.2OI
Net additions TO plant and equip
| ment, added during the month,
amounted to S71,629.S6 after retire
ments of s61,677.66.
New Train Service on b. o.
The Baltimore & Ohio Railroad will
put into operation on April IS a new
! an-Pullman. solid steel train, to be
known as the National Limited, be-
tween Washington and st. Louis
which will provide the shortest route
and the quickest schedule between
the two cities, according to officials
OF the company, and the first all
Pullman trains to be run by any rail-
| road between these cities.
The new train will be an exact
route and schedule, of the nationally
known Capitol Limited" the premier
train of the Baltimore and Ohio, start
ed two years ago between Baltimore
and Chicago.
| Bankers to Attend Dinner.
Washington will be ably represented at
the annual banquet of the Philadelphia
. Chapter, American Institute of Banking
| tomorrow night. Graduates of the
local chapter who have signifed their
intention to attend, include H. W.
Burnside, president of the Washing
ton Chapter; w. W. Spaid of W. L.
Hibbs & Co; Harry V. Haynes, chair
man of the District of Columbia
| Clearing House Association: L. J. Nc
Quade, vice president of the Library
National Bank; Wilmer J. Waller, vice
president of the Federal-American
National Bank; Robert V. Fleming,
George o. Vass and Avon NJ. Neyius
vice president of Riggs, and c. Louis
Ecklof of the National Metropolitan
Bank.
More Engines Need Repairs.
Glass one railroad locomotives in
need of repair on February 10
> amounted to ll,S16, or 1874 per cent
of the number on line, the American
Railway Association reported today.
This number represents an increase
of 502 over February l. at which time
! IneTe were 1l,ol9, or lf.6 per cent.
Serviceable locomotives in storage
on February Is totaled 420S de-
crease.
Offer on Phonograph Stock.
Stockholders of the Columbia Pho
nograph Company, Inc, have received
an offer of $50 share for so per
cent of their holdings. The offer is
, made by the Constructive Finance
Company, Ltd, of London. which ac-
quired the English branch of the
business of the Columbia Graphic
phone Manufacturing Company sew
eral years ago, and which now seeks
control of the American company.
Stockholders have been asked to sig
nifty their intention not later than
March 25. in order that they may
share equally. A committee headed
by NJ. E. Burckner of New York has
been appointed to prorate the shares
to be taken by the prospective buyer.
Ford's Pay Roll Heavy.
Henry Ford last year paid more
than a quarter billion dollars in
rolls were at the Highland Park and
Rive Rouge plants of hte company,
in Detroit, the total for these two
plants alone reaching the enormous
amount of s172,S2o,145. The total
of the Detroit district was S1S7,447,-
1S7. These figures include also wages
and salaries paid at the Lincoln Mo-
tor Company. a division of the Ford
Motor Company; the c. E. Johansson
Company, Inc, and the Fordson Coal
Company.
Moody's Review.
Moody's Weekly Review of Finan-
| cial Conditions in its current issue
says. in part:
THE raising of rediscount rates by
| the New York Federal Reserve Bank
proves to be merely q perfunctory
readjustment of the bank rates to the
money market, and is correspondence
ly without influence upon the fnan-
cial situation.
Interest rates may harden little
this month in response to the financ-
ing of the manufacturing and whole
sale phases of the Spring trade, but
thereafter they should remain about
| stationary for some months. Com
mercial paper financing continues ac-
tive through the Summer, however,
and here rates may persistently
harden a little.
I'm view of the probability of
rather large trade activity in the
Autumn and of financial preparations
for the same, 1t would not be sur
prising If prime commercial paper
should get up around AZ per cent by
June or July. Such an event If real