Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-30
Strong Financial Statement.

ASSETS 1928 1929
Warehouse property s7s5. s4sol Ss4i.344.z
s.sssSsT,.i.: ,s s:sG,ss ,5s sasl /; ;
Accounts due. e5,SosiS si,s54.2
Cash on hand $3.50. 1,577.41 5.363.7l
sl,l6l.4z7.s5 sI,257,sss. a
e:sSs5fis. Ss 8
Undivided profits 1is'Ofs.SG 2s1.0SS );
and insurance =. 57,646.50 e2,Ss5ot
Reserve for depre- ,,,a, .s,.., a,
Notes ''G and accounts 800.
Re 1sgSeif for dividend 49,. 'O'OOO'O'
payable Jan. TO-. 100000 $4,000 OF
8l,l6l,447s5 sl,257.6ss AZ
In his report President Aspinwall paio
tribute to the late Charles J. Bell. who
was deeply interested in the company
from its beginning when it was con-
nected with the American Security &
Trust Co.
The company has opened European
office in Paris for the more expeditions
handling of European business. The
company is now handling household re-
movals from Europe as well as from
most places In the United States. It Is
also planned to extend these facilities to
the chief South American capitals soon
The number Of agencies in other places
has been considerably enlarged recently.
More Pennsy Stockholders.
Another new high record in the mum
Der of Pennsylvania Railroad stockhold-
erS was reached on January /, when
196,119 shareholders were registered on
the books Of the company.
This is the fourth consecutive month
In which the stock has risen to record
breaking levels for widespread public
distribution, the figures for September,
k1Ia,
ing topped all previous marks.
The number of stockholders registered
on January l showed an increase of
42,1ll, as. compared with the same
date year ago, and an increase of
5,o40 over the preceding month.
A large proportion of this increase is
accounted for by the addition of many
new employe holders as a result of the
employees stock allotment authorized
by the board of directors in July, 1928.
The average number Of shares held by
stockholders on January / was 56.6.
Firm Opens New York Once.
Stein Bros. & Boyce announce the
opening Of q New York office at 100
Broadway and the admission of William
s. Wilson to general partnership in the
nrm. Mr.. Wilson has been connected
with Bond q Goodwin, Goldman Sachs
& Co., and for i've years with Jackson
q Curtis. He viii assume active man.
agement of the New York ONCE.
The investment and brokerage firm
has main off1ces in Baltimore and
branch o6ices in Washington, Louisville,
KY; Clarksburg and Charleston, w.
Va; Hagerstown, Md, and Charlottes-
vile, Va. The business was started in
Baltimore in 1853.
Insurance Cashier Advanced.
The Equitable Trust Co. of New York
has appointed Philip Kane, formerly
cashier of its Washington ONCE, to
assist Stanly Carr in the sale and dis
tribution of securities in the Washing
ton territory. Mr.. Kane is native Wash
ingtonian, and a graduate of George
town University, where he was editor
of the 1928 Domesday Booke. While a
student he also issued the GEORGETOWN
Anthology, a comprehensive collection
of the poetical works of GEORGETOWN
students dating back to 1889.
The position of cashier at the Equit-
able's Washington ONCE is now being
filled by J. Sheridan Bays, formerly
with the National Metropolitan Bank.
Weather Hats d. C. Trading.
The Washington Stock Market al
most established a worlds record for
light business today. The slump was
laid to the weather. There were just
four transactions, all after call Five
shares of Merchants Transfer & Stor-
age preferred sold at 1001z, 81 900 Ana
costa & Potomac Railroad IS changed
hands at IS, $1,000 Barber & Ross 61z 8
came out at 80 and five shares of Po-
tomac Electric Power So per cent pre-
ferred shares were strong at 10S. Capt.
tai Traction remained at 81 bid and 81
asked and Washington Gas was quoted
ex-dividend, 107 offered and 125 asked
Wall Street Tone Improves.
Both brokers and bankers in Wash
1ngton believe that the tone in Wall
Street has shown marked improvement
during the past 10 days. They see
indications of a steadily improving
securities market as Spring and Sum-
mer approach.
This does not mean that there will
not be recessions in the stock market
they assert. And they caution investors
not to reach for stocks. New York has
been predicting technical reaction and
one is likely to come at any time II
is what New York professionals want.
The steel report was so good that II
helped an already improving market
ana added fuel to rising prices. The
market remains highly selective. While
local hnanciers urge great care in the
purchase Of stocks they insist that there
are plenty of real bargains at present
levels. No rapid or sudden advance Il
considered likely but an upward trenC
over the next few weeks Is expected.
Heard i'm Financial District.
Philip M. Brown, partner In Eastman
Dillon q Co., was visitor at the loca
broker Office today, of which Arthur
Foraker is manager.
Eugene e. Thompson, head of Crane
Paris g. Co, has returned from a meet
ing Of the governors of the Associated
Stock Exchanges held in New Orleans
The Washington Bond Club meet
tomorrow noon at the Carlton Hotel
with David Friday, widely known
economist, as guest speaker.
The death of William King is deepl,
regretted In the financial district. ii
was president of the Farmers
Mechanics National Bank, in George
town, from 1918 to ,919, and was aSke,
TO serve on the advisory board when tn
bank was consolidated with Riggs.
The eleventh Midwinter trust con
ference of this division Of the America
Bankers Association takes plac
February 10, 10 and 20 in New Yorl
Many local bankers are planning :
attend.
Drexel e. Co. and Bonbright g. Co
Inc, are offering at s71a and accrue
dividend s6,658 shares Of Philadelphia
Electric Co. IS dividend preferred stool
F. w. Woolworth Co. 1929 earning
s9y07 q share on 5000, 900 shares /
$e.o7 q share on 100000 shares /
1923,