Evening star., 1927-10-12
BIG PRUSSIA LOAN
ISSUES TOMORROW
Directors of Southern Re-
elected-Good Profit Shown
So Far This Year.
By EDWARD C. STONE.

Offering is to be made tomorrow OF
the S30,000,000 Prussian state loan,
State Department officials here having
indicated that there is no longer OBJ
lection to such loan, obstacles which
had arisen in Germany having been
overcome. The State Department Of
fcials informed bankers a few days
ago that the objections raised to the
loan in Dawes plan circles in Germany
should he removed. This now has been
accomplished.
The big loan is being negotiated for
improving navigation and aiding in
agricultural developments in Prussia.
Southern Railway Doing Well.
The present directors of the South.
ern Railway were reelected at the
annual meeting held in Richmond yes
terday, as We're the officers, ~ per
cent of the stock being represented.
President Fairfax Harrison, stated
that the decline of 1876 per cent in
passenger revenues in the eight
months ended August 81 was primarily
due to the collapse of the Florida
boom, the cotton debacle of 1926 and
Mississippi floods. Notwithstanding
the falling of in passenger business.
substantial profit is shown for the first
eight months. he said. Local paSSen-
ger business has been conducted at
loss and a number of local trains have
been discontinued. Mr.. Harrison said
the directors are not considering
another stock issue at present.
There are HISS holders OF stock in
the company, with an average holding
of 10 shares, compared with 1876
stockholders, with an average holding
Of 12S shares a year ago. The num-
Der of women stockholders has shown
an increase, approximately $500 hold
Ing $4,000 shares.
Shoe Production Increasing.
Shoe production in the United
States during first eight months of
1927, amounted to 227 .4S0,747 pairs.
an increase of S.S per cent over the
209 ,004, ,406 pairs manufactured during
corresponding period Of 1926, the
Commerce Department announces.
During the first seven months of the
year Canadian shoe factories pro-
duced 10,191 1898 pairs of leather foot
wear, an increase of &c per cent over
the 9,931.670 pairs manufactured dur
ing the same period last year.
September shipments of electric in
dustrial trucks and tractors, as re-
ported TO the department by the nine
leading manufacturers in the in
dustry, totaled 70, against 92 in Au-
gust and 81 in September, 1926. Dur
ing the nine months ended with Sep
tember, shipments totaled $50 vehi-
cles. against 1,042 shipped during the
first nine months of 1926.
Railroads Install Train Control.
OF the "A railroads that have been
ordered by the Interstate Commerce
Commission to install automatic train
control devices upon certain portions
of their lines, 80 had done so to the
extent of 100 per cent of the require
ment on July 1, according to report
of the commission.
The Chicago & North Western has
installed safety devices on the great
est number of miles Of road, 356;
while the New York Central has
equipped the greatest number Of loco.
motives, S35, with train control ap-
paratus.
The above report is of special In
terest to Washington where hundreds
of shares Of Miller Train Control
stock are held. The Miller devices
are now being marketed by the Gen.
Srdl halfway GASiLdl w. AAS SAANASS
are quoted weekly on the local ex-
change, the bid price last Saturday
having advanced to 2a with none
offered, although an informal asked
price of 31a was reported.
Heard in Financial District.
George L. Starkey, president Of the
National Bank of Washington, will
leave here at the end of the week for
a motor tour up the Susquehanna
Trail to Buffalo, Niagara Falls, To-
ronte and other places in that section.
He will also visit Erie and several
other places in Pennsylvania, return
ing to Washington in about two
weeks.
The Universal Chair Theaters Cor
poration has enlarged its circuit by ac-
quiring two theaters in Winchester,
Va.
A syndicate, headed by the Century
Trust Co. of Baltimore, Stein Bros. &
Boyce, and Pogue, Willard & Co., has
purchased and is offering a new issue
of 81, 1,T00,00 5-year 61S per cent gold
notes with detachable stock purchase
warrants of the Silica Gel Corporation.
Local merchants report that business
Is good, but they are anxious for some
sharp Fall weather that win give
trade real boost. Clothing dealers
are especially interested in cooler
weather.
American Tel & Tel. earnings per
share this year probably will be about
the same as last year, when $11.95 a
wHaap %rAn .f q