Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-27

icsponunls PeiNou
The Georgetown -''
Gas Co. has also filed the April state
ment with the Utilities Commission, the
figures showing q net corporate income
for the month amounting to $21 10000,
\ good gain over the net income of April,
1929 when it was $15.058.08. For the
first four months of this year net earn
ings amounted to $84,531.45, which is
q substantial increase over the similar
period of 1929, when 1t totaled $751;
1885. The figures show that the
Georgetown company is making a par
ticular good record in expanding earn
ings, which it hopes to maintain during
the rest Of the year.
Pennsy's April Earnings OF.
Net railway operating income of the
Pennsylvania Railroad Co. for the first
four months Of 1880 amounted to $28,-
T92,424, as compared with $39, 624, 842
for the corresponding period Of 1929
and $50, las. sol for 1928. Gross revenues
for the first third of the year totaled
$ls1, 70T, 1913. against $2l2, 1853, $50 for the
like period OF last year and $l96, ,437
for 1928.
For april gross revenues were $40
645 ,598 as compared with $56,029 .625
for April, 1929, and $51 ,226,863 for
April, 1928. Net railway operating in
come for last month amounted to
S9,3s5, 703, against $12, 1o3 $50 for April,
1929, and $a,446,4l7 for April, 1928.
Miss Krieg Thrice HOnOred.
Miss Catherine M Krieg, who has
been awarded third place in the essay
contest open to members of Washing
ton Chapter. American Institute of
Banking, and sponsored by the District
Bankers Association, has won these
honorS three times. She won second
place one year, then she raised her
average and captured first honors, and
now has won another convention trip
at the expense of the Riggs National
Bank, the bank for which she works all
the essay winners being sent to the con-
vention by the banks by which they
are employed. Miss Krieg has been
showered with congratulations since the
judges announced their findings She
has been with the Riggs Bank several
years and has been one of the leading
students in the local institute chapter
This is the last time she can compete
in the essay contest, as she graduates
this year.
Joins Local Brokerage STAFF.
Announcement was made yesterday by
the local ofice of Harriss g. Vose, mem
bers OF the New York Stock Exchange,
that John L. Koran has joined the
staff of the Washington ONCE, In the
Southern Building. Koran is well
known in the financial district, where
he has many fritnds. For many years
he was associated with Fenner & Beane,
where he was formerly assistant mana
ger.
The Federal Reserve Boards con-
dition statement of weekly reporting
member banks in leading cities on May
Al, shows increases for the week of
$45.0Oo,0O0 in loans and Investments
and $40 900 900 In time deposits, and
decreases of $85, 600 900 In net demand
deposits and $4,000 900 in borrowings
from Federal Reserve Banks.
A. T. & T. Fixes Bond Price.
The American Telephone & Telegraph
Co. announced yesterday that the con-
version price of the Az per cent de-
bentureS will be reduced from $3.50 to
$l6s.ss in accordance with the recent
conversions into stock.
All except $14,O0O,O00 par value of
the debentures have been converted into
capital stock. The bulk of the con-
versions were made prior to May %
in order to take advantage of the rights
to stockholders to subscribe to shares
ut 500 In the ratio of one for six held.
At the time Of the debenture flnanc-
ing the company announced that the
= conversion price during 1880 would be
$3.50: in 1881 and 1882, $3.50, and there
after at 5000.
Potomac Power Exchange Feature.
Potomac Electric Power So per cent
preferred stock was the leading feature
on the Washington Stock Exchange to-
day. Twenty sales of 10 shares each
were recorded consecutively at LOT.
Sales OF 20 shares and 5 shares fol-
lowed. making the days turnover 225
shares. all made at lot, ex-dividend.
This is the same price which has pre-
vailed in the issue for some time.
Capital Traction opened with 10
shares selling at So. followed by 10
shares moving at 81. Forty shares were
then sold in 10-share lots at 66lS and
the market in Capital Traction closed
with 10 shares changing hands at Sc
fat, a new low.
Norfolk d Washington Steamboat
Co; rights appeared on the board at
17K and 173s. Washington Railway
a. Electric preferred came out in q
small transfer at 98H, ex-dividend.
Chevy Chase Dairy preferred sold at
103, Lanston Monotype, eX-dividend at
124, and Peoples Drug Stores preferred
at l0S. The closing stock sales were
two 5-share lots of Mergenthaler Limo
type at 1922.
In the bond division Georgetown Gas
IS came out at 1929. while Washing
ton Railway & Electric Is moved at ST.
Washington Gas Light IS sold at 1925
and the series Gas IS at 1924 in
light trading.
Heard in Financial District.
Stroud, Kurtz & Co, the investment
arm in the Transportation Building. is
noting its tenth anniversary today. The
partnership, formed just decade ago,
has proved highly successful
The District Bankers Association
ttf1l hat &c Lac
ing before the convention tomorrow
noon at the willard
The council of administration Of the
bankers association will have it's final
session before the convention Thursday
noon at the Willard, the members being
the guests of the president, w. j.
Waller
Washington brokers will be scattered
to the four winds at the end of the
present week. With the New York Stock
Exchange closed from Wednesday after
noon until Monday they will have ample
time for some quite extended trips.
One Washington banker said today
that while business Is still very slow,
1t cannot remain SO indefinitely. It is
continued delay, he said, is because peo-
pie have not yet recovered from the
stock market crash of last November.
Frederic A. Delano of Washington,
president of the Stable Money Associa-
ton, has sent out invitations for dinner
in honor of Sir Josiah Stamp, to be held
at the Harvard Club in New York on
June 6.
w. r. McNeel, Boston eeonom
4 makes the assertion that according to
Ia conclusion based on a logarithmic
index, stock prices within a year and q
half will be selling higher than they
eysreKfre previous to the panic and at