Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-20
c. & 0. REPORTSD DIP
IN NOVEMBER NET
Liberty National Declares
Extra Dividend-3anker
Hopeful for 1881.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Gross revenues of the Chesapeake &
Ohio Railway in November were SILL
O41.9l2. a decrease of $685., 504 owe;
November of last year; operating eX-
penses were $6,775 ASS, a decrease OF
S1,240,423, as compared with November
1929, and net railway operating income
was $3,286,226, decrease OF S436,6Il
over November of last year. Net in
come after all charges for November.
1880, was $2,356,006, a decrease OF
$223,379 over November, 1929.
For the IL months ended November
80 the company shows gross revenues
of S127l78453, a decrease of $11 1881
900. Operating expenses were $50, $40, :
APT, a decrease of S9,316, 5Sl. Net rail-
way operating income was S37,T51,339,
a decrease of S2,820,190
Net income after all charges was
$31 ,707, $40, n decrease OF S1,738 $50,
compared with corresponding period OF
1929 The operating ratio for the perlod
was 633 per cent, decrease OF l.o per
cent as compared with the same period
year ago.
Liberty National Votes Extra.
Directors of the Liberty National
Bank Yesterday declared the regular
senli-annual dividend of $3.50 per share
out of bank earnings for the past SIX
months and also voted a special div
idend of ST per share, both payable De-
ceuoer 81 to stockholders of record De-
cenber 26, the books not to be closed.
The board then voted per cent
Christmas bonus to be paid to all en-
ployes of the bank.
AS Chesterman Views 1881.
In looking forward to 1881 president
Bertram Chesterman of the Morris Plan
Bank, said today:
Fundamentally conditions are SOUND
and 1881 will, in my opinion show an
Improvement in the unemployment Sit
uation and in business conditions gen.
erally. Washington will recover more
RAPIDLY than other cities because it has
been less affected than other cities, oc-
cupying, as 1t does, a unique position
which prevents drastic and widespread
fluctuations in its volume OF business.
Eventually there will have to be all
equilibrium between national produc-
ton and national consumption. and
am confident that American business
can, by study and voluntary co-opera-
ton, successfully solve its own prob
lens"
American Ice Profits.
Net earnings of American Ice Co. and
EUOS1Ql2TiGS IOI NONGIIlDGl. d1GS4 4lJS-A~
est. but before taxes and deprecia-
ton, were $lT4,077. This compares
with $250045 for November last year.
Net earnings for II months. after in
terest, but before Federal taxes and
depreciation, were $500 002, COM
pared with S5,526.475 for the CORE
spending period Of 1929
Better Business Forecast.
The. Washington Loan g. Trust Co.'S
monthly review of business, prepared
by Norman E. Towson, states that some
financial quarters see further receSslonS
in business before the turn, but con-
cludeS by suggesting some indications
that point toward resumption of busi-
ness activity. The review concludes:
AN increase of nearly $l00,00o.00O
over June in the amount of currency
In circulation indicates more business
activity.
IAN increased rapidity of credit turn
over. now becoming apparent, indicates
an Improvement of business activity,
and offers a foundation for the opti-
mistic comments now heard in some
responsible quarters.
THE increase already effected, and
the further expansions contemplated in
automobile production, the recommen-
dalton by the Interstate Commerce
Commission that the recapture clause
be abandoned, and the vast amounts
about to be expended on public works,
cause us to view with more confidence
the prospect for the coming year"
Selects so Common Stocks.
In one Of the latest financial books,
Fifty Hand Picked Common Stocks"
J. George Frederick, the author, has
selected so common issues on the New
York Stock Exchange which he con-
ciIarc mir harCoiFr " His cpippffOnS
were made during the first 10 days in
November for the Business Bourse, New
York. The stocks are taken from about
eight different industries. The author
devotes chapter to each industry
names the issues he thinks viii be lead
ers for the long pun, then takes each
one of the so stocks up separately and
presents all the facts at his command
about them The speed at which the
book was published is one of the most
interesting facts about it, while the
choice of stocks forms an unusually in
teresting list.
Heard in Financial District.
Directors of the Southern Maryland
Trust Co, which reorCanizei end re-
opened for business last March. have
just declared a / per cent dividend, pay
able December % to stockholders Of
record December 10. The company is
that has ever resumed business success
fully after suspension.
The record Of the Arundel Corpora
ton, which has increased earnings dur
ing the present year over 1929. has
caused considerable comment in Wash
ington, where quite little of the stock
is held The concern deals largely in
construction and building materials
George Bowie Chapman, resident
partner of Hartman s. Co, has re-
turned from a short business trip to
New York
W. W. Spaid of w. B. Hibbs & Co.
has been IN New York attending a
meeting Of the board CT governors of
the Association Ct New York Stock
Exchange Firms, of which he is vice
president
F. p. H. siddons and Luther E.
Schreiner have gone to Hot Springs.
Va, to make arrangements at the
Homestead for the June District of
Columbia Bankers convention.
The Washington Eank Women's
Club Is arranging Christmas party
to be held at the Lee House Monday
evening. The celebration viii take the
form of a dinner and a Christmas tree.
Arrangements are in the hands of Miss
Marion Sebastian.
pAI TIAg0DE pITy p0MOc