Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-05
TRADING IS QUIET
ON D. c. EXCHANGE
National City Co. Offices
0pened-Southern's Net
|. Estimated
BY EDWARD G. STONE.

DIX EDWAhD z. STONE.
Trading was dull when the weeks
business opened on the Washington
Stock Exchange today. -
Bond trading included 81 900 trans
fer in Anacostia & Potomac r. r. IS at
81, of points from last weeks close;
$1,000 sale in Washington Gas Light
IS, series B, at LOG, up half point from
the last sale; and a $1,000 turnover in
Potomac Electric Power consolidated SIS
at 108A, against the last previous sale
Capital Traction stock opened the
week with 10 shares selling at 401s
After call Is more shares sold at 40. A
small lot of Lanston Monotype came
out al 102 and a small sale in Mer-
9enthaler Linotype was recorded at 81
The bid on the newly listed Woodward
d Lothrop common stock again stood
at Is.
Only four stocks in the whole list
are now being quoted eX dividend, fol-
lowing the long list of year-end pay
unentS.
New City Company Offices.
Scores of regular patrons, bankers
and business men visited the greatly
enlarged Washington headquarters of
the National City Co., at TAI Fifteenth
street, today, to inspect the, sweeping
changes that have just been completed.
A number of smaller offices have been
thrown together by elimination of all
partitions, the new arrangement pre-
senting a spacious appearance and
added convenienceS for the patrons.
The general architectural design is
Georgian in. character. A great pro-
fusion of flowers added their beauty
to the general appearance of the Of
fees at today's open house"
Thn f-fa IN fk1n Il
ward Building have been occupied by
the National City Co. for IA years. r.
W. Hynson, district sales manager, and
his staff extended cordial greeting to
all visitors.
SOuthern's Net Estimated.
Net income of Southern Railway Co.
for II months ended November 80,
1880, is estimated at $7,888,000 after
taxes and charges, equivalent after
dividend requirements on 5 per cent
preferred stock, to S3.95 a share on
10000 shares of common stock. This
compares with $17,046,000, or $l1 a
share, in same period of preceding year.
November net income is estimated
at $524,000 after taxes and charges,
against 1862, 900 in November, 1929,
says today,s Wall Street Journal.
Earnings for November and IL
months Of 1880 include pro rata in
come from extra dividends declared by
Cincinnati, New Orleans & Texas Pa
cific and Alabama Great Southern,
controlled lines of Southern Railway.
Stephenson Praises Banks.
Rome c. Stephenson, president of the
American Bankers Association, made
some unusually interesting comments
in New York today on the banking
situation. He spoke of the steady i'm
provement in bank management, the
support given the principle of Govern,
nnent supervision Of banks, referred par
ticularly TO the work OF the controller
of the currency, and the many problems
arising during 1880. In conclusion
Mr.. Stephenson said
1.-The events of the past year have
brought about, am confident, a
stronger banking situation by eliminat-
ing some undeniable weaknesses. Despite
the prominence in the news of banking
difficulties, only q small fraction or
total banking figures are affected and
even a smaller amount of deposits will
actually be lost since most closed banks
will pay in full or large part. The vast
majority of bank resources are not in
volved at all. feel that we can truth
fully say we will have as result of
these unhappy, but curative conditions
the strongest banking situation we have
the highest confidence Of all our
people"
Local Exchange Growing.
Listing of $500 900 common stock of
Woodward & Lothrop Co. is the third
important local issue which has been
added to the list since the annual meet
ing of the exchange few weeks ago.
Only a short time ago the Washing
ton Gas Light Co. listed 100000 Az
per cent gold notes. Just previous to
that listing, the Columbia Country
Clubs new $225,0 51z per cent bonds
were placed on the board.
In addition to these listing on the
main board, the governors recently APP
pended four other issues to the unlisted
division. While not sponsored by the
exchange, this action. was taken in
order that the investing public may
know each week the bid and asked quo
tations on these securities.
Heard in Financial District.
The Life Insurance Club of Wash
ington will hold formal dinner at
the Shoreham Hotel on January IA at
z pm The committee in charge Is
made up of John P. Lynch and George
B. Farquhar. Although not an old or
ganization, this club is in thriving
condition.
FRANK VIC PiCSAAClb
trust officer Of the National Savings &
Trust Co, and W. w. Spaid, partner in
w. B. Hibbs & Co., were back at their
desks today after several days of high
class golf played at Savannah, Ga.
Directors of the American Steel
Foundries Co. closed their Washington
Office on January /. For long time
the local office was in charge of w.
Ross GraVener. who died on November
81. He had been with the company
over 80 years.
Gov. Arthur j. Weaver Of Nebraska
has been recommended TO President
Hoover by Representative Simmons to
succeed the late Edward H. Cunning
ham on the Federal Reserve Board.
Childs Extends Stock Payments.
Following reduction Of 10 per cent in
salaries of its officers and employees
Childs Co. is permitting a suspension
for six months Of payments for stock
under the employees subscription plan
announced last year. Under that plan
employees were offered common stock at
$50 a share. to be paid for at the rate
of 81 SO a share monthly, thus requiring
about three years TO pay in full. En-
ployes have been receiving all dividends
from date Of purchase of the stock.
MnTnD NEuIHI &c Ia HOE