Evening star., 1932-04-20

Merged with Chatham Phenix on Feb
share are only for ts the seven 10 weeks from ON
that date to March 2S, 1882
Increases over 1881 were shown by
Bankers Trust, Corn Exchange, En-
pire Trust, Irving Trust and Manufac-
turers' Trust.
Coast Line Adds Director
All officers we're reelected and Roland
L. Redmond, New York lawyer, was
added to the board of directors at the
annual meeting of stockholders of the
Atlantic Coast Line Railroad Co., yes
terday at Richmond.
The new board of directors reelected
all officers with Lyman Delano, who
succeeded the late Henry Walter as
chairman Of the board, retaining thai
position.
TIE reports of the president and di.
rectors showed that operating revenues
for 1881 were S54, ,0a8. .0O4 97, a decrease
from 1880 of $693l, ,95191, or Halt pei
cent, and were less than in any year
since 1917.
Operating expenses for 1881 aggre-
gated SAB, 1873, 8,470.55, a decrease of So
496, ,e89. As, or 1903 per cent from 1890.
being lower than in any year since 1918.
Phone Stock in Limelight.
1t was stated recently that there are
10000 holders of American Telephone
& Telegraph in Washington, and that
no doubt explains why SO wide interest
is being taken in the stock right now.
Il opened on the New York Stock Ex-
change today at SO, again selling under
par.
At its low of 97s4 yesterday, Ameri-
can Telephone was selling lower than
it had been at any time since 1921,
when it touched 9534. In 1914, when
the Stock Exchange was closed. the low
est price officially recorded was ia; in
the 1907 panic. it sold as low as 88 and
in the 1901 market smash 1t touched
ISL.
At the moment, there are some $685.
900 shareholders, giving the company
the largest stockholders list in the
world. Evidencing the public's conf
dence in the shares, holders of more
than 1000 shares sold 200O shares in
1881, while holders Of fewer than 1000
shares absorbed 677,000 shares, includ-
ing part of the latest Offering.
In the first three months of 1882,
says the Wall Street Journal, sales by
holders of 1000 or more shares aggre-
gated some 10000 shares, which were
readily absorbed by holders of fewer
shares largely by holders of fewer than
100 shares. Both foreign and employees
taklngS have increased to record pro-
portions in the last six months.
Daylight Saving Next Week.
Washington brokers and the mem
bers of their staffs will have to arise
with the birds next week, as daylight
savings time goes into effect on the
New York Stock Exchange All the big
markets will open at 9 o'clock instead
of 10 and close at instead of
o'clock Notices have already been
posted in the local board rooms call
ing attention to the new schedule. The
investment houses in this city also con-
form to the earlier hours as their ticker
service is also advanced one hour. The
Summer plan is always popular here
MergenthaIer Much Stronger.
Mergenthaler Linotype was the most
active stock on the Washington Ex-
change today, showing great improve
ment The stock opened with 80 shares
selling at IS. Ten shares then sold
at 81 and five more at 3734. Fifty
shares then sold at SO, So more at SO
and 10 more closed the days trading
with a Jump to Al. The market closed
with AZ bid and As asked, the day S
sales reaching l57 shares.
The other type stock, Lanston Mono
type. was also out, three sales involving
40 shares taking place at SO. The only
other stock traded in was Carpet Cor
porstion, 25 shares selling at g. Jump
OF 2 full points from the last recent
sale at 7.
Bond trading was confined TO Wash
ingtcn Gas Light issues. 81 900 Wash
ington Gas 5s selling at 100 and 5000
Washington Gas IS, series B, moving
at 1902.
The board of governors Of the Wash
ington Stock Exchange today estab-
lished minimum prices on the miscel.
laneous stocks listed on the local ex-
change. All public utility stocks anc
all bonds still are open to free trading
The National Credit Corporation
formed last Fall to extend emergency
aid to banks announces that on Apri
% it will redeem another 10 per cent oi
its outstanding gold notes. The pay.
nlent will amount to about $45 ,000, 900
Two previous redemptions, totaling 81
per cent of the capital have been made
The Senate Banking and Currency
Committee has reported favorably upor
the Norbeck BILL S. 24o9. which woulc
make the debentures of the Fedora
intermediate Credit Banks eligible col
lateral for members of the Federal Re.
serve System TO use in borrowing from
the Federal Reserve Banks The twir
bill, introduced by Representative
Steagall, has been reported favorabl,
from the House Banking and Currenc,