Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-05


Capital Traction stock, which gained
points and a fraction over prior sale
and closed at 67ss after several trans
actions.
Washington Gas Light Co. stock was
also strong, turning over f1ve shares at
las.
Bonds were not heavily in demand.
but Capital Traction SIS sold at s3l2
and Washington Gas SIS at 6614, up
to 81.
Chain Store Investment.
The 800 food stores known as SAM
tary and Piggly- Wiggly in this city
constitute an investment OF 100000,
it was announced today by Safeway
Stores. Inc which owns the Sanitary
Grocery Co. operating these stores here.
This amount is larger than the in
VestmentS of the Safeway Stores, Inc,
in any single State in the Union, with
the exception of California, where the
investment totals $l3,650,695.
The Sanitary Grocery Co., which Is
owned by Safeway Stores, Inc, Is
operated out of Washington headquar-
tiers under direction of Edward @.
Yonker and has $40 stores in Mary
land, District of Columbia and Vir-
GINA. In the State of Maryland the
Investment in property is listed as
Sass, 900, while in Virginia 1t is shown
as S315, 700. Mr.. Yonker is president
of the Sanitary Grocery Co. and vice
president of Safeway Stores, Inc.
Sideways investments in fixed assets
as of December 81, 1929, totaled
$21 ,OOO, 900, according to the statement
made public by M. B. Skaggs of Oak
land, Calf, president. OF the invest
ments in fixed assets $6,986, 900 Is in
vested in real estate and buildings.
The company operates 1850 stores and
1856 meat markets, A warehouses, Is
bakeries and 2 creameries, located in %
States. the District of Columbia, Canada
and Hawaii.
Continental Baking.
Earnings of Continental Baking Cor
poration whose stock Is widely held
here, were running so per cent in excess
Of average weekly profits during the first
IS weeks of the year according to flglres
for the five weeks period ended May IT.
In tn first Is weeks of this year ended
April IL, net profit was 81 ,182,978 after
all charges and taxes equal after pre-
'ferred dividends to cents share on
29l ,978 shares of class A stock out
standing This compared with 81 ,SSS,7S4
Or $2.18 a share on class A In the cor
responding 1929 period. Current earn
ings are now running at the same rate
as in the first Is weeks of 1929.
The sharp decline in profits in the
last quarter of last year and the frSt
quarter of the current year was due TO
the combination of falling of in sales
volume due to the general depression
and to the break in wheat and flour
prices. Sales volume is showing
recovery in the various plants all over
the country and from now on the COM
pany will be operating on lower-Priced
raw materials so that the remainder OF
the year should show normal earnings.
The improvement is continuing, and IL
Is probable, according to present fore.
cast that the next report to be issued
will show profits close to normal.
Financial Advertising.
Rejecting the increase in financial
advertising during the past month, the
net earnings of Rudolph Guenther-
Russell Law. Inc. of New York, for the
lnunth of April are reported at sub
stantiaI gains over the preceding months
In 1890.
The Chesapeake g. Ohio lines have
let contract to Haley, Chisholm d
Morris of Charlottesville, Va, for con-
struction of new single track tunnel
parallel to the old Big Bend tunnel
which is located between Big Bend and
Hilldale, w. Va, about Q miles east OF
Hinton, the estimated cost OF the work
to be about $2,200,000
The volume of Canadian newsprint
exports for the first four months OF
this year was 4 per cent less than Tor
the corresponding period last year, ac-
cording to General Manager S. II.
Logan of the Canadian Bank OF Com
inerce. The present state Of the indus
try, he says, is encouraging, viewed In
relation to world industry as whole.
The board of directors Of Tri-Con-
tinental Corporation declared the reg
ular quarterly dividend of $l50 share
on the per cent cumulative preferred
stock OF the corporation, payable July
] to stockholders of record June l6.
National Shirt Shops. Inc. for May
report gross sales of $363,595, against
S324,150 reported for May, 1929, an IN
crease of 1217 per cent. Sales for the
five months ended May totaled 1883
ial. against 81, 429,673 reported for the
same period last year, an increase OF
1857 per cent.
Col Cooper HOnOred.
Col Wade H. Cooper, president Of
the Commercial National Bank and the
United States Savings Bank, was elect
ed vice president OF Lincoln Memorial
University at Harrogate, Tenn, at the
recent annual meeting Oh the board OF
trustees of that institution.
At the annual meeting of the Me-
tropolis Building Association all di-
rectorS were reelected as follows:
Harry G.. Wilson, John Scrivener, Ed
ward A. Trip, George M Siebert,
James H. Keller, William A. Simpson
Henry NJ Wiegand, Henry w. Jaeger
Martin T. Wiegand, Arthur Seagren,
Harry H. Wilson and Rudolph w. San
telmann.
Financial District Notes.
The Mercantile Trust Co. OF Balti-
more submitted high bid Of l00.53 for
purchase of $500 900 Washington MARY
land Suburban Sanitary District bonds,
when bios were opened yesterday by
the Washington Suburban Sanitary
Commission at Offices in the Tower
Building. here.
Plans are being made by the WASH
ington Mechanics Savings Bank for
opening OF the new ONCE at 3401 Con-
necticut avenue next Monday morning
The Office will be open from 9 am. I'M
til pm This is the fourth bank for
the institution, the others being located
at $500 Georgia avenue, Ninth and East
Capitol streets, Eighth and G streets
southeast. Ezra Gould is president and
Clarence F. Burton, vice president and
cashier.
Trustees were re- elected at the an
nual meeting OF stockholders Of the
East Washington Savings Bank, held
yesterday as follows: Francis j. Kane,
John c. w. Beall, James A. Donohoe,
GratZ e. DunkuBh, Lewis Flemer, John
Ford, w. P. c. Hazen. Henry H. Mckee
Morris E.. NARROW. william N. Payne,
Samuel H. Walker, John c. Yost, T.
Earle Bourne, Charles A. Garry and
Walter H. NARROW, jr
The directors Of the Munsey Trust
Co. have elected George A. c. Wood
a member Of the board. Mr.. Wood Is
the new president of the Washington
Gas Light Co. and of the Georgetown
Gas Co.