Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-14
JACOBS COMPANY
STOCK INCREASED
Survey of MergenthaIer by
Economic Experts Shows
Rating High.
BY EDWARD C. STONE.


increased to 100000, Of which 5000, 900
is fully paid in.
The company, which has been en-
gagged in the general hauling business,
was established in 1857 and incorpo-
rated in 1913. 1t Is the purpose Of the
company in the near future to establish
freight terminals in Philadelphia. Balti-
more and Washington and to maintain
daily service between these points.
The officers of the company are w.
L. Humphreys, president; James L..
Evans, vice president. and L. w. Mason,
secretary treasurer. The board of direc-
tors are w. E. Humphreys, l.. w. Mason
James l.. Evans, John D. Howard and
Carlton A. Guenther.
Mergenthaler Stock Reviewed.
Standard Statistics, New York, has
rust published a special review of the
stock of the Mergenthaler Linotype Co,
which is Of particular interest to Wash
ington since so much of the stock Is
owned locally. Earnings on the up
grade; a high-yield issue for long-pull
holding is the rating that the com
pany gives this security. After stating
that the approximate price is 100 ~
sold yesterday at 10O and the 1881
range ITO to 1861, the review con-
tinues:
For the seven-year period from 1920
10 1926 Inclusive, net income OF this
company was S2,305,00 in 1922 TO
high of $3.50 900 in 1925. In 1927,
however sharp recession was ex-
perienced, attributed to unusual ousl,
ness conditions in this country ana
abroad. Earnings have subsequently
improved, amounting to $2,220,olo, OF
40Tl per share, in the fiscal year ended
September 80, 1929, compared with
$l,so3,673 the preceding year and
S1,so2,555 in 1927.
Outstanding capital stock consists OF
a56. 900 shares of one class, no par.
For approximately 80 years from organl-
zation until the stock was split two
for-one In 1925, dividends were main
tanned at the annual rate OF $40 q
share, with numerous extras. 50
annual basis was established on the
new stock and has since been increased
to So a share, with extras of IS cents
quarterly. Including the extra, yield
at current prices in 6.6 per cent The
company has no funded debt. Finan-
cial position is strong, with $l7,l65,500
current assets, including $l,lSS,30O
cash, and only $50o,600 current liabil-
flies shown in the September 80, 1929
balance sheet Book value of the stock
is $100.03 share"
Brawner Elected to Exchange.
John F. Brawner, son of the late
John W. Brawner, has been elected
member of the Washington Stock Ex-
change. Mr. Brawner is vice president
and general manager OF Waggaman,
Brawner 81 Co. a director of the Lin
coin National Bank, the Carpet Cor
poration and its subsidiaries, member
Of the Racquet Club and the Columbia
Country Club.
Mr.. Brawner received his education
In the Central High School, this city,
George Washington University Law
School and the University of North
Carolina.
He takes the seat formerly held by
Frank B. Pryor, who for several years
was one of the most regular attendants
at all sessions of the exchange.
400 To Attend Convention Here.
Approximately 400 sales representa-
tives from Pennsylvania and New Jer-
sey are expected to attend the con-
vention Of the New York Life Insurance
Co. at the Willard Hotel, Friday and
Saturday. Senior Vice President Thomas
A. Buckner will be honored at the con-
vention in observance Of his fiftieth an
niversary of service. George w. Long,
inspector of agencies at Philadelphia,
will preside.
Woman Chairmen Appointed.
Committee chairmen for the new ad-
ministratiYe year of the Bank Women's
Club are announced by its president,
Miss Mabel V. Royce, Washington Loan
& Trust Co. They are: Dinner commit
tee, Miss Marian Sebastian, National
Metropolitan Bank; program, Miss Lois
A. White, Federal-American National
Bank; Miss Winifred Burwell, National
Metropolitan Bank, vice chairman; fell |
lowship. Miss Mary Craven, District Ma
tioHal Bank: publicity, Miss Catherine |
Krieg, Riggs National Bank.
Auditors Select Committee.
Raymond G. Marx, chairman of the
auditors section of the District Bankers
Association, announces that the execu- |
tive council has appointed the following
members to make the nominations for
next year: ]. E. Benton, American Sc
curity d Trust Co., chairman; E. H.
Parhsley, National Bank of Washington;
s. Peacock. Chevy Chase Savings Bank;
A. A. P. Savage, National Savings d
Trust Co., and Eugene Marks, Mer-
chants Bank & Trust Co.
Insurance Conference Ended.
General agents Of the Provident MI
tllal Life Insurance Co. of Philadelphia,
through the Southern area, closed their
annual Spring conference with home
Office officials yesterday in the Hotel
Mayfower. Two days were spent in a
discussion of agency problems. Those
who spoke from the home Office were
NJ. A. Linton, F. c. Morse, j. H. Cowles,
J. S. Scott and z. M. Bechtel, Jr. H. Q.
Mclean is general agent for the Provi-
dent Mutual In the District of Columbia.
Busy Session on ID. C. Exchange.
The Washington Stock Exchange
opened today with the sale of $l3,500
Capital Traction IS at a. in six differ
snt transactions. The only other bonds
sold were small denominations of Wash
ington Gas IS, series B, at 1892.
Capital Traction stock opened with
two 50-share sales and Is shares selling
at TAI. Later 10 shares changed hands
at 745a Potomac Electric Power 512
per cent preferred moved at l08.
Norfolk g. Washington Steamboat
rights opened at 17l2, and later sold at
TN, 171s and II in a good-Sized turn
at 235, and Continental Trust at 125.
Merchants Transfer & Storage, pre-
ferred, registered 10oH.
Both type stocks were out, Lanston
selling at l24 and 124l2. and Mergen-
thaler changing hands at l07 1t was
announced that the Exchange will be
closed Saturday, beginning on May II
and opening again on october 4.
Cleaned in Financial District.
Earlier closing hours for Washington
banks during the Summer season was
taken yesterday by the District Bankers
Association council of administration
and referred back TO the special COM
nnittee of which John Poole, president of
the Federal-American National Bank,
is chairman. 1t is hoped that the as
ISOLATION will reach some definite deci-
sion in the matter by June /.