Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-05-28

pOi GdIlOll SOullIllI-
tee is very anxious to have all the reser-
vations in as soon as possible. in order
that they may be turned over to the
Hotel Committee and accommodations
arranged. The reservations are given
preference in the order in which they
are received.
President C. H. Pope has expressed
the opinion that this years meeting at
Hot Springs will be the most important
that the association has ever held. He
bases his claim on present conditions
III the banking and business worlds,
which are most unusual, as everybody
admits.
The other members of the Transporta-
tlcn Committee include J. Frank White,
vice chairman; c. D. Radcliffe, B. A.
BoWles Robert j. EarnshaW, c. c. Lam
"a born. John A. Eckert, Frank j. Kauf-
man, jr., and Maurice Otterback.
49, Dividend Changes Since 1922.
The annual rate of distribution on
hlgh-grade common stocks is 80 per
cent more now than at the end of 1922
and more than 1900 higher than at
the highs of 1929, according to an
analysis Of 80 leading issues made by
Administrative and Research Corpora
ticn, New York.
AT the market close December 81
1882, the average price of the 80 stocks
was 44.87. average distributions for the
year being $3.50, or 513 per cent. At
the highs of 1929 these stocks averaged
i2:ol IN price and distribution S618
during that year, or 381 per cent.
AT the market close May % the
average price was 1888 and rate of
olStrloutlon was S2.44, or 81 per cent.
North Americans Assets Grow.
Statement of the North American
Co. and subsidiaries as of March 81
1882, shows total assets of s878,346,-
30, comparing with SS6O,OO2.2O2 on
March 81, 1881, and total surplus of
Sl52,266,96S, against S151 los sos Cur
rent assets, including S21.426,612 cash
and United States Government securi-
rent and accrued liabilities were ST.
546, 1913. This compares with cash and
United States Government securities of
S26,627,49l, current assets of S51174,-
586 and current and accrued liabilities
OF S25,803,063 on March 81, 1881.
N. e. w. Earns S2.15 Per Share.
The Norfolk & Western Railway Co.
for four months ended April 30, 1892
shows net income of 1882 42O after
taxes and charges, equivalent after
dividend requirements on per cent
1,406,483 shares OF common stock This
compares with $685. ,O65, or S361 a
common share, in first four months of
1881.
April net income was se66,491 after
taxes and charges, against 1890, 1872
in April, last year.
Commercial Credit Dividends.
The Commercial Credit Corporation
has declared a quarterly dividend of
1912 cents on the common stock, plac-
ing the issue on a 50-cent annual
basis, against 81 previously. Company
also declared the regular quarterly
dividends Of S162la on the 61a per
cent first preferred; 1924 cents on the
7 per cent preferred, SO cents on the
8 per cent preferred and IS cents on
the 50 class A convertible preferred
stock. All dividends are payable June
80 to stock of record June 10.
international Business Machines Cor
poration, which has plant in Wash
ington, has introduced a new electrical
recording lock for the doors of stores
and other business establishments,
which serves as a time clock for en-
ployes, provides protection against
burglary, records the hourly inspec-
tions of a night Waterman and cannot
be picked by thieves.
Heard in Financial District.
The board of directors of Virginia
Public Service Co., meeting yesterday
at Alexandria, declared the regular
quarterly dividend of SITS upon the 7
per cent cumulative preferred stock of
the company and $3.50 on the per
cent cumulative preferred stock, bath
payable July to stockholders of record
June 10.
Continuing its strong hold on. ex-
penses. the management of the Balti-
more & Ohio Railroad, through increased
efficiency, was able to reduce its
operating expenses $2,814,517 in April
as compared with year ago.
Contracts for the servicing by ice of
air conditioning equipment for the Paul
Raisler chain of Long Island theaters
have been closed by Knickerbocker Ice
Co., subsidiary Of American Ice Co.
The latest Offering CT 100000, 900
9l-day Treasury bills was oversubscribed
about three times, Secretary Mills states.