Evening star., 1931-06-19
TRADING IS LIGHT
ON D. c. EXCHANGE
Potomac Electric 5 1-2 Pre-
ferred Up 0ne-HaIf Point.
Other Issues Off.
Trading was light on the Washington

was a half point up on sales of 8 shares
at Ill after call. Commercial National
Bank sold points off at 2l5.
GEORGETOWN Gas SIS went at 1031a, a
fraction off, and Lanston Monotype
dropped off from 80 to 80 on two sales
of 10 shares each.
Frederick P. H. Siddons, secretary to
the American Security G. Trust Co., re-
turned to Washington today from the
annual convention of the District of
Columbia Bankers Association at Hot
Springs, Va, on account of the sudden
death of his father, Judge Frederick
L. Siddons. The young banker held the
responsible post this year OF general
chairman of the Convention Commit
tee and Is in line for secretary next
year, the officers moving up to presl-
dent of the association. The secretary
of the A. S. &; T. Co. has held several
posts in the association, including
chairman of the fiduciary section,
chairman of Commercial Trade ActlVl-
ties Committee, chairman of the Pub
licity Committee, chairman OF the Pro-
gram Committee and this year, in ad-
dition to being general chairman of the
Convention Committee, was chairman
of the Protective Committee. A report
of this latter organization was to have
been submitted to the convention today
by Siddons. but he left to return to the
Capital. From the financial section
MANY expressions of sympathy were
extended to Siddons today, as 1t was
known that the bond between father
and son had been unusually close. II
was recalled that Justice 'Siddons' was
best man at his sons wedding.
Carpet Corporation.
The Oarpel Corporation, wholesale
food distributors, with headquarters
here. has declared its eighth consecu-
tive dividend of SO cents per share pay,
able on July to stockholders OF record
at the close of business June p. This
is quarterly dividend of 37la cents per
share with an extra OF 12l2 cents, max
ing the annual rate So per share.
Joins Goodbody Co.
Henry Shepherd, who has been iden-
titled with Washington financial actlVl-
ties for several years, has become asso-
ciatsd with Goodbody & Co., members
of the New York Stock Exchange and
other representative exchanges, whose
local Office is in the Southern Building.
Mr. Shepherd was born and reared in
Shepherdstown, w. Va, and has been a
resident of Washington for the past 10
years. During his financial career he
has been associated with several rep
resentative houses in Washington, and
has wide acquaintance in this city
and the surrounding country.
American Fire Insurance Co.
At the annual meeting of the Amer
1can Fire Insurance Co. of the District
of Columbia today, the following Off
GERS were reelected: Charles Schafer,
president Francis A. Blundon. vice
president; G.. M. Emmerich, secretary;
F. J. Ehlers, assistant secretary, and
c. j. Bergmann, treasurer.
Trustees elected yesterday were Mr..
Schafer, Victor B. Deyber. Max Walten,
Harry M. Packard Mr.. Blundon. A. F.
Jorss, Mr.. Emmerich, Mr.. Ehlers and
Mr.. Bergman.
Gas Firms Earnings.
Revenues of manufactured and natu-
raj gas utilities aggregated $60,076,833 in
April. 1881. as compared with SCI 957,-
93l in April. 1880. a decline of 3 per
cent, according to reports to the stats
tical department of the American Gas
Association from companies serving
1851, $50 customers and representing
about 80 per cent of the public utility
distribution OF manufactured and natu-
raj gas
Revenues Of the manufactured gas
companies aggregated S32 .938,73l for
the month, drop of per cent from
a year ago. The naturaI gas utilities
reported revenues of S27.138I02, which
were about "A per cent under the fig
ures for April, 1890
Sales of manufactured gas reported
Tor April totaled 3l,317, ,662 900 cubic
feet, decline of 2 per cent, while natu-
raj gas utility sales for the month were
64,975, $4,000 cubic feet, a decline of
nearly 8 per cent.
significant feature of the data on
natural gas was an increase of nearly
per cent registered in sales for domes-
TIC uses, rejecting in large part the in
duStryS program of development and
expansion into new territories not for
merly served with gas. This expan-
sion OF the domestic business was most
notable in the mid-continent area,
Kansas and Oklahoma both showing
gains of nearly 30 per cent over April
a year ago, whila in Louisiana and
Texas the gain in domestic sales aver
aged around IS per cent.
Throughout the country generally in
duStrial gas sales, both for manufac-
tured and natural gas utilities. con-
tlnued at levels considerably below the
preceding year. In New England in
dustrlal gas sales were down per cent,
while in the East North Central States
the decline in this class of business was
nearly per cent. For the country at
loss OF 13 per cent for the month in
safes OF gas Tor industrial purposes.
Cash Holdings Gain.
Holdings of cash and marketable Sc
curltles by leading corporations have
SHOWN large increase since 1921, not
only in amount, but also in relation to
total assets and funded debt, it is re-
Vealed by study prepared by Clermont
. Cartwright, vice president in charge of
research and statistics of Allied Busi-
ness Corporation Shares, Inc, national
distributors of A B C Trust shares.
The 81 companies in this trust for ex-
ample show an increase in cash and
marketable securities from S846, ,584, 900
at the end of 1921 to $1,814,5 900 at
the end of 1880, an increase of ia per
cent. Total assets of these companies
increased so per cent during this period,
while funded debt increased only 26 per
cent and current liabilities "a per cent.
Their greatly strengthened financial
position since 1921, which is believed
to be representative of most large cor
porations, is further indicated by the
fact that common stock equity, which
in 1921 made up 48 per cent of total
assets, in 1880 made up 81 per cent
in 1880 common stock equity was three
times funded debt, whereas in 1921 it
was less than twice funded debt Cash
and marketable securities in 1880 were
159 per cent of current liabilities and
in 1921 only 80 per cent of current
liabilities.
American Telephone & Telegraph
was revealed as having the largest
cash holdings in 1930-$388, ,858 900,
followed by Standard Oil of New
Jersey with S225, ,826,000, United States
Steel, $197 1907, 600; General Electric,
S123,703, 900, and Allied Chemical,
$l13,320,00o.
Watch Auto Industry.