Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-29
CARPET COMPANY
SALES SHOW GAIN
Increase of 1913 Per Cent
Over 1929 First Quarter
Shown in Report.
BY EDWARD C. STONE.

Inc Carpel corporation, Hoiollt
company for the Carpet Co., Inc, o.
Inc; II. L. Carpet Of Baltimore, Inc;
the Food Products Co, Inc, Of Pitts
burgh: H, L. Carpet Of Roanoke, Inc.
and the Food Products Co., Inc, OF Nor
folk, food distributors, reports gross
sales for the quarter ended March 81
1880, in the amount of $447, .37-an
increase of 10 8-10 per cent over the
corresponding period in 1929.
John r. Brawner, vice president and
general manager, Waggaman, BraWner
a. Co., Inc, investment bankers. was
recently elected to the board OF d.
rectors of the Carpet Corporation.
The common stock of the corporation
Is listed on the Washington Stock Ex-
change and has recently been very
active, due somewhat to rumors OF fur-
ther expansion and consolidation.
Reports on National Mortgage.
James p. Schick, president of the Ma
tional Mortgage g. Investment Corpora
ton, has sent a report to the Stock
holders, as of December 81, 1929. In
preface to the financial statement Mr.
Schick states that the outlook for the
company is better now than 1t has been
in a long time. He says that the officers
feel much encouraged and look for q
steady improvement in the company
affairs as time goes on.
The Washington Rapid Transit Co.
has filed its March report with the PUB
lie Utilities Commission, showing total
net revenues for the month OF $49,94
In the District against S54 gal S5 IN the
same month a year ago. Revenues Tor
the first three months OF 1890 amounted
TO $i41,Sl5 in comparison with $l42227
A the first quarter Of 1929. Net income
for the first quarter, after all deouc-
tions, was IS, 162, compared with $lS,2ss
2 year ago.
Retains Southern Identity.
The 10 partners OF Fenner g. Beane,
all Southern men, have unanimously
decided that the firm must continue as
a Southern business enterprise, and for
that reason the administration Offices in
New Orleans, where the firm had its
origin, will not be consolidated with the
New York administrative offlces.
Having selected the Southern States
as its field of activity and realizing
that the South had not developed as
rapidly as the North and East, Fenner
d Beane created some extensive ma
chinery through which to render eff
fective help to the Southern States and
cities in their economic and civic de-
velopment.
Facts developed by economic surveys
are proving OF much value in attract.
ing favorable attention to the South
among bankers, manufacturers, in
vestors and business men generally.
Insurance Leader Visits City.
Frederick H. Rhodes Of Pitts1eld,
Mass, president of the Berkshire Life
Insurance Co., Is visiting the Washing
ton Office for a few days. Mr.. Rhodes
has made brilliant record in the In
surance world, having started IS years
ago as an office boy. He worked up
rapidly to be a general agent and then
agency manager in New York city.
Five years ago he was elected president
Of the company. Since he took the
helm the company has increased its
outstanding insurance by about IS per
cent. Mr.. Rhodes is 40 years of age.
Bond, Club Plans for Outing.
The board of governors of the Wash
1ngton Bond Club met yesterday after
noon and formulated plans for the
clubs annual outing. Friday, the 18th
OF June, is considered as the luckiest
date possible for an event Of this kind.
It Is expected that the outing will take
place at the Burning Tree Club, as
usual, and the dinner will follow an
afternoon of golf. Another mock stock
exchange session is on the program
all the special events.
March Business in April.
The unfavorable comparisons be-
tween last month and March, 1929,
shown in the records Of department
store, chain store and wholesale sales
as compiled by the Federal Reserve
Bank, are partly to be explained by the
lAteness of Easter this year. Easter
came in March last year and that
months sales consequently were swol-
len by the usual Easter buying. AS a
result of the lateness Of Easter this
year, March trade received no impetus
from the holiday. Instead, as re-
marked by the New York Times, the
bushes done in March Of last year is
being done this year In April.
Trading on Local Exchange.
Bonds drew the most attention on the
Washington Stock Exchange today Gas
IS, series B, moved at 1855, 81 900 Bar
Der q; Ross SIPS came out at 81, 81 1000
Washington Railway g. Electric Is sold
at s73z and $4,000 Anacostia g. Poto-
mac Railroad guaranteed IS registered
95.
In the stock division Potomac Electric
Power 5la per cent preferred sold at
108ls. while the per cent issue moved
at 1l2H. One hundred shares of Carpet
Corporation changed hands at 2612 and
10 shares of Federal American Co. pre-
ferred came out on the board at 100.
Heard in Financial District.
Several local brokerage houses have
turned their clocks ahead one hour In
order to be on the daylight saving time
schedule.
The annual statement of the Lanston
Monotype Co., due to be presented at
the annual meeting here this week, is
%AI
year. LanSton stock has been extra
strong on the local exchange recently.
The Washington Loan g. Trust Co. Is
now publishing daily stock market
report which gives the previous close
and the opening quotations on active
stocks on the New York Exchange
The Federal Reserve Boards condi-
ton statement of weekly reporting
member banks in leading cities on April
ST. 100000 in loans and investments
al 100000 in net demand deposits,
al decreases of $34,000,000 in time
deposits, $33 100000 in Government de-
posts and 100000 in borrowings
from Federal Reserve banks.
The Interstate Commerce Commission
has authorized Wabash Railway Co. to
issue $l5,000,00 of per cent refund
ing and general mortgage gold bonds.
The bonds will be sold at not less than
80 per cent of par and accrued inter-
est and the proceeds used to retire GER
tain notes, also to reimburse roads
treasury for capital expenditures and
provide for future capital expenditures
Group banking was one of the first
topics TO be discussed at the Reserve
City Bankers convention, which opened
yes erday at Memphis.
MEXICO SEEKS u. S. HELP
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