Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-02
PRODUCTION OF GAS
ON INCREASE HERE.
Gain of 22 Per Cent Reported
for December Over Same
1929 Period.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Production of gas in Washington
continued on the increase during
December, Vice President Frank A..
Woodhouse announced today, gain
being reported of % per cent over
December, 1929.
Although financial figures in all
probability will show a drop, due TO the
reduction of rates, 733, $4,000 cubic
feet of gas entered Washington homes
and factories in 80 days of this month
as contrasted with 598,080,000 cubic
feet in the same period OF 1929. The
average daily sendout, as of December
90, was 25,287 900 cubic feet this year
as compared to 2o,62300o cubic feet
last year
One of the largest days Of the month
was Wednesday, December "a, the day
before Christmas, when 29465, 00o cubic
feet of gas was recorded. On Chr. stmaS
day the output was 28,270,O00. or
1,195,000 cubic feet less than tie day
before.
Figures for December 20 showed an
increase of 23.9 per. cent over the cor
responding day of 1929 The produc-
ton was rs ,287 900 cubic feet on that
same day Of the year before.
Dunn Joins Investment Firm.
Richard P. Dunn has become associat-
ed with the firm of Auchincloss, Parker
g. Redpath, Inc, TIC Fifteenth street
northwest.
Mr.. Dunn is a native of Florida,
having been educated in the public
schools of that State, later Princeton
University. graduating with the class
of 1919. He served in the World War
with the naval forces, and since that
time has been engaged in the invest
ment banking business. For the past
three and a half years he has been
manager of the Washington office Of
Harris, Forbes & Co.
The association of Mr.. Dunn with
Auchincloss, Parker 81 Redpath marks
the further enlargement of this banking
house. which opened here several
months ago.
Pleased With Passing of 1880.
Bankers, brokers and investment
dealers in general expressed pleasure
over the passing, in a financial way
Of 1880.
However, in many ways 1880 was not
such bad year as it might have been.
One local bank president said today
that he would be perfectly satisfied II
1891 proves to be as satisfactory. Dur
ing the year Just passed his bank paid
regular dividends, plus an extra, all out
of earnings. The bank also made
substantial addition to surplus.
other banks in the city have made
a similar record, keeping UP their divi-
dends, paying extras without dipping
into any surplus funds that are al
ways set aside for rainy days. Keep
ing up dividends, adding to surplus and
giving the public efficient service is
about all that any bank can be ex-
pected to do. The local bank manage
mentS are looking forward to 1881 with
the expectation Of equaling or improv-
ing their earnings this year.
Much interest is being manifested in
the bank call due very shortly. 1t is
expected that the banks here will show
some increase in deposits over the last
call and quite substantial gains over
the corresponding call year ago. This
will be partly due to the steady in
creases made in savings accounts during
the year.
Reports ON Wholesale Trade.
Reports ssnt to the Federal Reserve
system during November. and just
made public, indicate that wholesale
firms selling groceries, dry goods, hard
ware and drugs had sales considerably
smaller than year ago. Reports for
the IL months Of the year also showed
decreases as compared with last year in
the four lines Of wholesale trade.
For the month drugs showed a de-
crea-e Of Upper cent in salss; groceries.
II per cent; dry goods, % per cent, and
hardware, % per cent, as compared
with sales in November, 1929.
For the IL months drug sales were 9
per cent less than last year: groceries,
per cent less; hardware, 18 per cent
less, and dry goods. IS per cent less.
In no instance for either the month
or the longer period were increases
shown in the wholesale trade in any
Federal Reserve district.
Heard in Financial District.
G. Bowie Chapman, resident partner
OF Hartman g. Co. has returned from a
two-week visit in Flofida and Cuba.
John M. Riordan, vice president Of
the Bank of Commerce & Savings, has
returned from short business trip to
New York
I A Fleming left Washington yes
terday for several weeks sojourn at
Melbourne, Fla
Local bowlers belonging to the Amer
lean Institute Of Banking will have a
bowling tournament tomorrow at the
Rendezvous alleys, the contests being
chapter. Prizes are to be given for
both singles and doubles. in three diff
ferent classes. j. Earle McGeary of
Hibbs & Co. is in charge Of the tourney.
The Federal Reserve Board announces
that the Boston Reserve Bank redis-
count rate has been reduced to 21a per
cent from 3 per cent, effective jan
uary 2.
TOday's Trading on Exchange.
The year 1891 opened on the Wash
ington Stock Exchange with very mod
est trading
Capital Traction opened at Al, drop
ped to 40 and closed at Al in sales that
totaled only % shares for the entire
session.
One hundred shares of Real Estate
Mort7-"e g. Investment preferred came
out =, and 20 shares of East Wash
In avings Bank appeared on the
b. 20 Is.
IN The bond division, 81 900 Columbia
Country Club 5l2s sold at 1O034. This
issue has been listed on the exchange
but few weeks and has figured In sew
eral transactions above par.
Small sales in Washington Gas 6s,
series A, completed the days bond sales.
Nearly all the banks in the city and
many of the miscellaneous stocks on
the board paid dividends on the 3lst,
so are no longer being quoted ex-divi-
dent. American Security and Union
Trust, as well as Federal Storage pre-
ferred. are due to pay dividends in a
few days, the same having been voted
some time ago.