Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-07

dividend changes. among II TalIrOdC
stocks there were reductions and
dividend omissions.
THE small change in average yielt
ual groups" MoodyS adds. LAS COM
pared to the beginning of the month
80 groups showed higher averages. while
lower averages were nCted in IL cases
Yield increases were most conspicuous
for the agricultural implement, building
chemical, coal and coke and oil CLASH
ffcations. Decreases were especially
marked for the apparel, cement, -rotoI
truck and tire groups"
Sales Congress Plans Pushed.
The ioint annual sales congress spon-
sored each year by the District of &C.
mr1bia and Baltimore Life Underwriters
Association will be held May Z at the
Shoreham Hotel The committees are
working hard to bring to washington
this year one of the best sales con-
grasses ever held by these two associa-
tons.
Some Of the mast outstanding men in
life insurance profession have been Sc
cured to address the congress, and very
shortly list of these will be published.
The trust companies Of washington
as usual are lending their support to
appear in the program for the day set
ting forth tn benefits of life insurance
trusts.
The chairmen of the various COM
mlttees are as follows: HaT-ld d. Kraft,
Program Committee; Dave Bethune,
Registration; Bill McCombs. Luncheon;
Wallace Hatch, Publicity; John NIGEL
fresh Banks and Trust Company Adj
refreshments; George Farquh1r, Finance,
and w. B. Daniels, Transportation.
Thomas NJ. Green. manager Of Balti-
more will be in charge OF the singing.
Calnan Assumes New Position.
MF. Calnan, for several years cashier
of the Liberty National Bank, has as
sumed his new duties as vice president,
the position to which he was elected BY
the board Of directors at a special
meeting held last Friday. He also re-
tains the ONCE of cashier. The position
of vice president was made vacant by
the advancement TO the presidency of
z. J. McQuade, elected to succeed the
lats George o. Watson
The American Stores Co. report sales
for the four weeks ending March %.
1881, of S10,771 ,032, as compared with
81, 300,186 for the four weeks ending
March 2e. 1890. This is a decrease Of
$529,I54, or 4.68 per cent. The COM
pany reports that tonnage sales in
creased considerably, but the decline in
commodity prices Of approximately Is
Per cent accounts for the decrease in
dollar sales. Sales for II weeks ending
March %, 1881, were s34, 1888 against
S35,56e,419 for the IL weeks ending
March 20, 1880. a decrease of 81 ,135, sos,
or 3.l9 per cent.
The McCrory Stores Corporation to-
day reported March sales as 1881 1897,
against 1885,, 9s9 in March, 1880, an in
crease of OF per cent. Sales for the
first three months Of this year amounted
to 1929 1865, compared with S6,959, 463
in the same period year ago, an in
crease this year Of 3 per cent.
Woolworth sales for March were also
reported today, being 3.3 per cent lower
than in March, 1880. Sales for the first
quarter, however, are nearly up TO last
years BUSINESS, the decrease being but
0.9 per cent. In connection with the
sales in March, President H. T. Parson
called attention to the fact that there
were five Saturdays in March. 1880, and
but four in March, 1881. Saturday sales
are equivalent 70 about Sl,750,000, he
said.
ID. c. Exchange Trading Active.
Trading opened on the Washington
Stock Exchange today with several good
sized transactions in Washington Gas
IS, Series A, at 1924 Washington
Gas 3 bonds came put at los.
Capital Traction stock opened at "a Il
figured in only small lot sales and
closed at 34l4. Norfolk & Washington
Steamboat Co. registered 1929.
Potomac Electric Power 61s per cent
preferred came out at 1922 and the
cnTd NJ
Railway & Electric preferred regis
tered 9ei2, Real Estate Mortgage &
Guaranty preferred sold at 81, and
Mergenthaler Linotype changed at 82lz
A 500 sales in Commercial Club IS
IN the unlisted department moved at 80
100000, 600 Bond Issue offered.
A syndicate of bankers today offered
q 500, 100000 issue Of Pennsylvania
Power & Light Co. first mortgage A.
per cent gold bonds due in 1881. priced
at 96lo and accrued interest, to yield
over 4.68 per cent.
The proceeds Of the financing will be
used 10 provide for the retirement Of all
existing mortgage debt OF the company
and the payment of other Indebtedness
heretofore incurred in connection with
tn acquisition and construction Of
property
The bonds Of the present issue arr
redeemable at the option of the com
pany, as a whole or in part, at am
time on 80 days notice, at los, up Z
and including April /, 1888. the pre-.
MUM Of per cent decreasing one.
half Of per cent during each four.
year period thereafter up 10 and includ
ing April /, 1874, and thereafter unit
maturity al 100 plus accrued interest L
each case.
The Pennsylvania Power e. Light CO
supplies electric power and light service
and some manufactured gas service in
wide territory in Pennsylvania, largel,
east of the Susquehanna River ant
north Of the Philadelphia metropolitan
district. The territory served has al
estimated population Of 1865, 600
Financial District Comment.
Carl w. Corby has been elected Il
the board OF governors of the Wash
ington Stock Exchange to fill tn,
o. Watson Mr.. C0rpy has been on
CT the most active members Of tn
exchange for several years and IS on
of the partners in the brokerage firm
of w B. Hibbs g. Co
George r. James has been reappoint
ed as a member of the Federal Reserv
Board, his present term expiring o.
April n.
Montagu Norman, governor of tn
Bank CT England, is in Washington 70
conferences with Secretary Mellon Of
matters Of international importance.
Henry Shepherd has become asso
ciated with the Washington Office 0
Hemphill. Noyes e. Co, firm dealin
in investment securities.
It is expected that the Treasury wi
announce new financing tomorrow il
the form of a certificate offer of $500,
600 900 or more.
The majority OF local bankers ar
convinced that busineTs has hit bottor
and will show slow but steady gain
during the remaining months Of tn
present year.