Evening star., 1932-02-23

sci. a1z m IN IN 4 a'a z'a''
Capital expendi- Lloyd B. Wilson.
tIres for new plant
and equipment, which will provide ad-
ditional facilities for telephone growth
in Washington involving expenditures OF
'$884,475 were also authorized. rms
brings the total amount authorized Tor
expenditureS this year to S2,745, ,4s3, &C
cording to a statement made by Mr..
Remon.
Included in this appropriation is the
installation of additional central once
equipment in various Washington ofn-
ces private branch exchange eQu1pment
and house cable in the Department OF
Agriculture and for private establish
mentS.
C. g. o. Reports January Earnings.
The January report of the Chesa-
.psake 81 Ohio Railway Co., just hled
with the Interstate Commerce Commits
sion. shows that gross revenues for the
month were $7,998,323 a decrease OF
So, ,3T9. .781 under January of last year;
operating expenses were $5,252,045, q
decrease of 81 GIT ,511, as compared WIN
January of last year.
Net railway operating income was
$l,951,526, a decrease Of $810,12O under
January of last year. The net income
appropriation for the month Of January,
was S1.196,638, a decrease OF $89l,2ll
under January of last year
The operating ratio is 65.7 per cent,
compared with 66.2 per cent for jan
uary of last year, or decrease OF 0.o
per cent.
Bank Stocks in Sharp Rally.
New York bank stocks, which are
= ~ -, ton
ther last week, according to records
complied by Holt, Rose g. Troster. The
aggregate market value of the 16 lead
ing issues was 81 1,819, ,598, 900 as of Feb
9llary 20. against 81 $50 ,381 900 on Feb
rlary l3, an increase of $3.50 000, 600, or
8 per cent, for the week.
The average yield of the l6 leading
stocks as of February 20 was 6-99 per
per cent on February is and s.s4
recorded on December IT, the highest
average yield reported last year.
= Based upon the February 20 figures,
: the 16 issues now are selling at 1873
times their known current earnings,
against 124 times earnings on Febru-
ary l3, and at 9.2 times known earn
ings on December II, the low for 1881.
New YORK city BANK stocRs are selling ing
in excess OF book value for the first
time since November IA, 1881.
l,.. GockeIer Reelected Director.
c. ]. Gockeler, vice president of the
District National Bank, has been re-
elected a director of the Chapin-Sacks
Corporation, according to announce
ment made in Richmond following the
annual meeting held in the Virginia
capital. Mr.. Gockeler has been d.
rector in this corporation for several
years. He is vice president Of the
Washington Stock Exchange:
= Local members OF the Investment
Bankers Association of America have
received word from Chicago headquar-
ters that the annual meeting will be
held at White Sulphur Springs, w. Va,
october % to 26, the place and date
governors. The 1881 convention was
held at White Sulphur, this being the
first time the organization has held sue
cessive conventions IN the same place.
1t was chosen because of the absence
of distractions that might interfere with
convention activities.
Peoples Drug Dividends Voted.
Peoples Drug Stores, Inc, has de-
clared the regular quarterly dividend of
rs cents on the common payable April
to stock of record March 8, and
S1.621z on the preferred, payable March
is to stock of record March /.
David Pender Grocery Co., which has
many stores in Virginia, reports for year
ended January 2, 1882, net profit of
S122.822 after depreciation, Federal
taxes, etc, equivalent after dividend re-
QuireTnents on 30,207 no-par shares of
$3.50 Class A preferred stock. to rs
cents share Of 65,070 no-par shares of
common stock This compares with
S40,74l, or $l.34 a share on 30,207
shares Of Glass A stock in year ended
January 3, 1881.
1882 We're s14,37s, 103 against sl5,e75,-
at in preceding year.
Todays Trading on Exchange.
The Washington Stock Exchange
held an interesting session today fol-
lowing the double holiday. The first
sale was a small lot of Washington
Gas Light, which changed hands at
1 85, the first time this issue has ap-
, Later it sold a point higher at 86
Mergenthaler Linotype figured in a
20-share sale at 433s, while 20 more
shares moved fractionally higher at
43l2 Capital Traction held its own
with one sale at 20. Potomac Electric
Power 5i2 per cent preferred recorded
a sale at l03.
Washington Gas IS, Series B, opened
the bond market ST. 900 selling at 1O3.
Gas 6s, Series A, sold at 991a and $500
. Washington Gas IS moved at 1904.
Towson to Address Forum.
The Forum Committee of Washing
ton Chapter, A. I. B., under the di-
Fppfin1 of rIoa
hold its second meeting Of the year
In the American Security and Trust
Building, Thursday evening Norman
z. Towson, assistant treasurer and
manager of the foreign department of
the Washington Loan & Trust Co., will
speak on Our Economic Dilemma" and
lead the discussion.
Mr.. Towson is the editor of Wash
'ington Chapters magazine, Dollars
and Sense" and has been identified
with chapter activities for many years
q, Heard in Financial District.
' Chauncey G. Parker, jr., and Albert
q. Redpath, members Of the investment
firm Of Auchincloss Parker & Redpath
are passing a short vacation in Ber-
muda.
Wholesale prices decreased rs per
cent for the week ended February Is,
Bureau of Labor Statistics reports. The
bureaus index stood at 66.2, as COM
pared with 66.7 for the week ended
February 6.
Prosperity comes faster to those
who save regularly" is the slogan used
on the first 1882 poster which the saw
ings division has prepared for its mem
bers. It. also carriers the encouraging
information that more than 5l,000,0 600
depositors in the United States have
savings accounts.