Evening star., 1926-04-18
Auto Magnate Known Here

Dodge automobile agents in Wash
ington were much interested in the
announcement that. Edward G. vii
ner had been elected president Of the
company in place OF Frederick j.
Haynes. who was made chairman of
the board. He will take up his resi-
dence in Detroit at once and assume
active charge of the company's s
affairs Mr.. Wilmer has come to be
one of tho outstanding figures in
American business. He is former
resident of Washington and a gradu-
ate of George Washington Uni
versity.
Probably Mr. Winners most
notable industrial accomplishment
was the part he played in the re-
habilitation Of the Goodyear Tire and
Rubber Co. Under his leadership
the company recovered its position
as the largest producer of rubber
tires in the world and also passed
IT'S previous earning records. Dur
ing the war the new Dodge presi-
dent was connected with the War
Department as buyer ana Tor
some time was overseas.
He plans to resign as chairman OF
the Goodyear board at once.
SOuthern's New Records.
Local stockholders of the South :
eril Railway were greatly pleased
with the annual report which showed
that the roads gross revenues for
1925 were the highest in the COM
pany's history. The road also made
p number of other records which in
cluded
Movement Of S,273,6o4.2SS tons Of
freight carried one mile; net operating
nd
of equipment and use of joint facili-
ties amounted to $35 1885, ,021, the high
est mark set in the company's history.
and the total income available Tor
dividends and for surplus applicable
for improvements to the property and
other purposes amounted to $22,o7S,-
172, as against $17,769, ,140 In the year
preceding.
The total investment in road and
equipment on December 81. 1925.
stood at $502, ,514,S13. an increase OF
S17.51O.969 over the balance sheet OF
December 81, 1924. Total current as
sets less current liabilities amounted
10 S35,3s5, $50, a gain of $11 SAC 900. or
more than SO per cent over the pre-
Vious year.
Other Financial Notes.
Tha statement Of Mergenthaler Limo
4vne Co. as Of March 81, 1926, shows
totaI assets of $40, ,0S0.4s9 as compared
with sac. .OS4. .353 on September 80, 1920,
and profit and loss surplus OF $ll,-
32o,935 against $l0,616,042.
For the first quarter of the current
YEAR, reports TO r. G. Dun 60. snow
6 0g1 commercial defaults in the
United States, with an Indebtedness OF
Et0s,460.339 The number compares pare
with & 969 for a similar period OF 1870
end "a the largest for the first quar-
Ter since 1922, when the failures total
ed 1877. The liabilities for the quarter
4,Iat ended. however, are fully 10 q
nor cent below the $l28,4Sl. .7SO Tor the
first quarter of 1925. and the sina!iest
ranor-ted for the first quarter since
1870. when the aggregate was less
than $50 100000.
Although the main trenu y, Eo.
vroditv prices during the week was
ngojn In n downward direction, de-
Lines were fewer in number tnan
chose of a week ago. OF the 49 changes
,acorded last week, 80 were reduc'
tions whereas 81 Of the 72 alterations
last week were toward lower ieve,'
= s,reelr a 90 were toward a lower level
2s advances.
Rond Jpswing Forecast.
Moodv's Weekly Review OF FInan'
cial Conditions in its current issue
SAYS in part:
Notwithstanding the more optimis,
tic sentiment, the lowest price level
vet touched this year is about II
POINTS above the bottom Of he March
reaction Of 1925, and 19 points above
fhe extreme peak of the bull move
ment of 1919, and 25 points above the
peak of the upward swing OF ls22. ),
'"The erratic movements OF call
money are CHARACTERISTIC OF trade re,
action. One day call rates bound
upward as a result Of Il withdrawal
of funds to mend some weak spot in
husiness-while the next day rates
Erop because Of an inflow of idle
funds released from employment as
business working capital.
"Our expectations Of a major up
ward swing in bond prices beginning
around midsummer or n little later is
based upon the plethora Of capital, the
present reductions Of operating costs,
and the absence of any present or
prospective impairment of our indus
trial machinery"