Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-03


decrease Of four
tenths of ! per
cent. The report
shows current IN
assets of $21,432,- A. chester TIather.
459 and current
liabilities of $3,962,933, a ratio of 5.4
to /. In 1929 current assets were S22,-
673,762 and current liabilities S4,694l82
q ratio of 4.8 to /.
In his remraks to stockholders
Samuel Robinson, president, says
While our sales show a decrease in
dollar value, the tonnage sold in 1890
owing to lower commodity prices pre-
vailing, was substantially greater than
tonnage sold in 1929. The 2,728 stores
in operation on December 81, 1880. rep
resents an increase of 81 stores during
the year. This increase has taken place
to some extent in new territories now
being developed.
1.-THE persistent decline in prices OF
commodities throughout last year made
operating conditions difficult. necessi-
tating downward inventory adjustments
and reduced profit margins When the
excess supply of certain food products
Is harmonized with consumption the
Sterilization Of prices which is likely
20 follow should have a favorable effect
upon earnings
The company holds 282.612 shares
OF common stock in the treasury. AT
the next annual meeting the directors
propose to recommend the retirement of
all or part of the treasury stock"
Father Heads Ticker Club.
A. Chester Father, manager of the
Connecticut avenue Office of G.. M, p.
, Murphy 81 Co., was elected president
OF the Washington Ticker Club at the
annual meeting yesterday, succeeding
George A. Garrett, resident partner in
+. B. Keech g. Co. Arthur Foraker, for
many years manager of the local Office
Of Eastman, Dillon e. Co., was elected
vice president and Chester w. Lock-
wood, manager of the washington Of
fics of Maynard, Oakley & Lawrence,
was made secretary treasurer The
above officers, with w. w. Spaid, part
ner in w. B. Hibbs & Co, and Mr.. Gar
rett, the retiring president, constitute
the board Of governors.
Reports showed that the first year of
the club was highly successful Meet
ings were held every month and mat
ters of mutual interest taken up for
discussion. The following New York
Stock Exchange houses are represented
In the organization:
Fenner g. Beane, Hemphill, Noyes g.
Co, MacKubin, Goodrich 81 Co.,
Maynard, Oakley q Lawrence, c..
NJ. P. Murphy d Co., Stein Bros. g.
Boyce, Wright, Slade e. Co., Eastman,
Dillon a. Co.. w. B. Hibbs & Co. West
heirner g. Co., +. B. Keech e. Co.,
NJ. j. Meehan g. Co. and E. A. Pierce
& Co.
Finance Firm Pays Dividend.
Checks have been forwarded to the
stockholders of the Security Finance
Corporation covering the regular semi
annual dividend on the preferred stock
at the rate of per cent per annum.
The company reports a strong finan-
cial position and prosperous year. The
directors are:
Claude w. Owen, president: Merritt
o. Chance, vice president; James B.
Evans, vice president: William Conra-
dis, secretary; A. H Brewood, treasurer:
John L. Chamberlain. Edwin E. Elicit,
william c. Hanson. Edgar Morris and
Frederick w. Quinter.
LanstOn Strong on Exchange.
In five transactions on the Washing
ton Stock Exchange today Lanston
Monotype displayed strength, all sales
being made at los.
Washington Gas Light stock was also
strong. two sales of six shares each
being recorded at 124l4. The last sales
were made at 1929.
American Security g. Trust Co. open-
ed with a small sale at 345, followed by
another at $50 few shares of WASH
ington Loan g. Trust Co. stock changed
hands at s440.
Mergenthaler Linotype figured in six
different sales, opening at 86ls and
closing at 86la Washington Railway g.
Electric preferred opened at SO and
closed with 1Oo-share block selling
at 9o1z.
Bond trading was confined to Capital
Traction SIS and Washington Railway
& Electric As. Prices we're little changed.
Mergenthaler Linotype and Peoples
Drug Stores preferred are now being
quoted ex-dividend.
Heard in Financial District.
The Capital Traction Co. just mailed
out the printed annual reports to share
holders and to Wall Street financial
houses. AS noted at the time of the
annual meeting, Traction earned S4.08
on common in 1890, against 1853 in
1929. Earnings covered the present
div. which is 81 a year.
E. Thompson. head OF Crane,
Pa. Co. and president of the AS
SOC Il Stock Exchanges, has returned
from a meeting of the associations
board Of governors in Detroit. He at
OPNllA1lE gESJ<Ahdy Va Vic
Detroit Exchanges new building, a fine
home with every convenience for car
rying on the daily trading. Naturally,
motor stocks are the most popular is
sues on the board.
Anthony z. Kaeser, manager for sew
eral years of Thomas Cook g. Son's
travel bureau in the Washington Loan
a. Trust Co., has resigned TO enter the
fruit business in Florida. He was pre-
sented fine gift by his associates in
the bank.
Maurice Otterback, president Of the
Anacostia Bank, reached home today
after month passed at various re-
sorts in Florida.
Notices have been sent out by H. C.
Hoskinson, vice president of the Riggs
National Bank, informing the other
local banks that income tax experts
viii be stationed in the banks from
March 8 to March 16 to assist patrons
in making out their income tax re-
turns. Mr.. Hoskinson took this mat
ter up with the Internal Revenue Ba-
reau at the request Of the District
Bankers Association.
The Washington Loan g. Trust Co.
entertained Is out Of town guess at
the Institute Banquet and took them
on an extended sightseeing tour of
Washington and vicinity the next
morning.