Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-05

I,.ati j., the George o. Vass.
Becker building. At this meeting re-
ports showed marked progress, all COM
mitteeS now having matters well in
hand.
AT Asheville the final arrangements
will be made for the golf contests, which
are always such a leading afternoon
feature Of the gathering. Mr.. Stunz
will return with every detail IN his
mind about the golf situation.
Chairman Schreiner will be thor
oughly acquainted with the hotel and
how the comfort of the local bankers
can best be attended to, while Mr.. Spaid
will no doubt scout around to get lines
on the best talent that the entertain
ment committee can secure.
Local Bank Clearings Reported.
Washington bank clearings for the
week amounted to $29,64l 900, compared
with $23,310,000 last week. This, how
ever, was a decrease of 1872 per cent
from the corresponding week in 1929.
Commercial transactions as reflected
by check payments during the week
ended March 90. were slightly lower
than in the preceding week and are still
under the 1929 level, according to the
weekly review of the Department of
Commerce.
1OIdl Ddllh ClSdl ulSS at 1GO GLUED Az
March were S51 1888 obs 600, a decrease
of 177To from March a year ago. as
against decreases of 22.2 and 22.4fo in
January and February, according to
Bradstreet'S. New York City clearings
totaled S33 .765 900 900 in March, de-
crease of 202fo from March year ago,
but smaller percentage OF loss than IN
either January or February, when the
decreases were. respectively, 81 and
nj g
Outside of New York City at 125
cities. March clearingS totaled $17,617,-
957,000 a decrease of 1855, against
decreases of 121 and 1885,, respective
", in February and January. Compared
with March, 1928. clearings at all cities
were So.
Building Contracts Awarded.
According to figures collected by the
r. w. Dodge Corporation, contracts
awarded for construction work in the
fifth reserve district in February this
year totaled $28,707,070 including both
urban and rural construction, a lower
total than $34251,706 in contracts
awarded in February, 1929, but larger
amount than awards totallng S22,3Ol,-
238 in February, 1928. OF the February,
1880. contracts, S7,854,56 was for resi-
dental structures, compared with So
1G4.771 for residence work in February
last year. Plans are being made for a
considerable volume of construction
work in the fifth district and the out
look for work during the next few
months appears better now than at this
time last year, the Reserve Bank OF
Richmond asserts.
Pennsy Makes Record Showing.
Pennsylvania Railroads record show
ing for year ended December 81, 1929,
with net income of SOL ,378518, equal to
1882 a share on II, 1915, 1913 shares out
standing at end of year, against net in
come of $82 .507,613, or $7.35 share on
1l,233,479 shares, at end of 1928, was
partly the result of greater operating
efficiency during the year. Operating
ratio of the Pennsylvania Regional Sys-
tenn for 1929 was 1872 per cent and
marked the ninth consecutive year to
show a decrease. It was lower than
any year since 1916, when it amounted
to 1892 per cent. With exception of
1916 and ratio Of 71.90 per cent in
1915, the ratio for 1929 was the lowest
for the past 20 years.
OF equal interest is the fact that
transportation ratio in 1929 was the
lowest in 20 years, even lettering the
highly satisfactory marks in 1916 and
1915.
JuAhS DIUhCE OlIACc Stdhs
John D. Mothershed formerly with
Mackubin, Goodrich & Co., is now as
ISOLATED with the Washington office of
Fener & Beane, members of the New
York Stock Exchange, according to
John j. Mclean, resident manager.
Mothershed has been in Washington
since 1917. He is former newspaper
man, having been associated with the
New York Journal of Commerce. He is
member of the Press and Racquet
Clubs.
Slower Market Held Likely.
According to the current issue Of a
review issued by E. A. Pierce & Co.,
with local Offices in the Transportation
Building, the present stock market
logically cannot be expected to run far
ahead of actual business prospects. The
advance since the first of the year
would seem to have discounted rather
generously the small improvement in
trade recently noted, as VIC" as reflect
ing the anticipation: of acceleration in
activity during the second quarter, the
article says.
Financial District Gleanings.
Much regret is heard in the financial
district over the resignation of ORD
Preston as president of the Washington
Gas Light Co., which action was brought
about by the change in control of the
company to outside interests. A former
director said today that, he believed Mr.
Preston had made the bsst president
the company ever had.
The F.. w. Woolworth Co. reports
March sales of $22, 482,271, against
$24,524,962 in March, 1929. For the
first three months sales are not far be.
hind last year, being $60,921 1865, against
$61 ,560,348 year ago.
Reports are current that If Congress
approves the consolidation of the Wash.
tngton and Georgetown Gas Light Cos
the management will cut the price o.
gas 10 per cent, so that gas may more
successfully compete with fuel oil anc
coal in house heating.