Evening star., 1932-04-07
PA|D-|N LAND BANK
CAPITAL BOOSTED
Treasury Buys $125,000, 900
/ in Stock of IL Federal
Institutions.
BY EDWARD c. STONE.


BY EDWARD c. STONE.
Acting under the recent authorize
zion by Congress appropriating s125,-
100000 to the United States Treasury
Tor subscription to stock in the II Fed
eral Land Banks, the Treasury has in
creased the paid-in capital of the II
Federal Land Banks by almost 100 per
cent, subscribing thereto $63 3,243, TAO,
making the total stock of the banks
Sl26.605, 500. The Government sub
scription included S25,000,000 to be
used to take the place of funds of
which the banks might be deprived by
reason of extensions granted under
their mortgages as provided by the con-
gressional, act. The United States
Treasury has received non-voting
shares Of stock for the advances made
to the II banks and this fund must be
repaid to the Treasury in the same way
that the original subscriptions to stock
In these banks were repaid to the Treas
ury.
The total subscriptions to the capi-
tai stock of the banks made by the
Treasury at this time are as follows:
Springfield, S1,425,080; Baltimore, ST.
5l2,430; Columbia, $685. ITO; Louis
vile, S3,000,980: New orleans, $865l,-
O70; st. Louis, $4,414,l85; st. Paul, $l4,-
905.3 1850: Omaha. S3,4998l0 Wichita,
S1924,055; Houston, $3.50, ,965; Berke-
lev, 81 ,981 AGO, and Spokane, $9,679, ,545.
The above subscriptions include those
from the S25 1000 900 fund which are
as follows: Springfield, S1.117,780: Bal
timore, S1.454,245 Columbia, $1,168,
B20: Louisville, 81, ,556 $50; New orleans,
S2,227, $50, St. Louis, $2,2l6,1 ,120; st.
Paul, $2,402,525; Omaha, $3,499,810;
Wichita S1924,055; Houston, So, ,290 965;
Berkeley, $1,116,355, and Spokane, $2,-
b23,315.
Chain Store Sales Improving.
Chain store sales in March. announced
, today, are encouraging. Sales of G. c..
Murphy Co. for March totaled $1,430,-
30l, against ST 1,329,134 in March, 1881
a gain of 101, ,167, or 7.6 per cent. For
the first quarter sales showed a gain
of 0.2 per cent over the like 1881 quar-
ter
McCrory Stores Corporation reported
March sales as S3,584,230, against So
381 ,447 in the same month last year, an
increase of per cent For the first
quarter sales reached S9,570,370, COM
pared with S9,229,918 in 1881, an in
crease of 81 per cent.
The F. w. Woolworth Co. reported
March sales as S2l ,255379, against S21,-
723,190, a decrease cf 81 per cent. For
the first quarter sales we're $58, ,039, ,55l,
against $60,348,770. a decrease of 3.8
per cent over the like 1881 period.
President H. T. Parson stated, how
ever, that there had been steady in
crease in business since the first Of
January As evidence of the better
in, al ho Iad of 10 he
3.6 per cent decrease in February and
the decline of SAC per cent in January.
Electrical Output Lower
Electrical output of the North Amer
lean System. of which the Potomac
Electric Power Co. and the Washington
Railway & Electric Co. are subsidiaries,
for the first three months of the present
year was 3s4 per cent below that of
the first quarter in 1881, according to
Frank L. Dame president of the North
American Co.
Electric output of the system for the
calendar year 1881 showed a decrease
of Az per cent below 1890, while out
put for the fourth quarter of 1881 was
Az per cent below that of the fourth
quarter of 1880.
The fine earnings statements of the
Potomac Electric Power Co. so far this
year indicate that there has been little,
If any, falling off the demand for elec-
tricity in this city. The slump must be
among North Americans other COM
panies.
At the monthly meeting Of the board
yesterday the directors of the Washing
ton Loan g. Trust Co. declared the reg
ular quarterly dividend of 3 per cent.
payable to stockholders of record on
May g. Books will be closed for trans
of ~ tn
both dates inclusive.
Trading on d. C. Exchange.
Trading on the Washington Stock
Exchange was confined to one stock
and one bond today. Capital Traction
recorded an 11-share turnover at 16,
same as yesterdays closing price, while
two small Washington Gas 6s, series A,
bonds appeared on the board at 99l2.
Riggs National Bank stock has been
added to the list of issue soon to pay
a dividend, Security Storage also being
quoted in the same manner, following
the recent quarterly declaration of 81
a share.
Much regret was expressed in the
financial district today over the death
yesterday of William E. Lewis. associate
marager of the Washington Office Of
Fenner g. Beane, New York Stock EX-
change firm. Mr.. Lewis was born and
raised in Washington and was manager
of the Fenner g. Beane Office when it
was located for several years in the
Willard Hotel before it was moved to
the present K street location. Mr..
Lewis enjoyed long and pleasant con-
tact with large number of people in
the financial district. He will be widely
missed.
Conference Speaker Named.
Delegates to the conference of the
fifth district of the National ASsocia-
ton of Credit Men, to be held at Ward
man Park Hotel April IS, will be ad-
dressed by Henry H. Heimann, execu-
time manager Of the national assocla-
ton, according to announcement yes
terday by committeeman from the
Washington Association of Credit Men
preparing for the meeting. The district
is composed of associations in North
Carolina, Virginia Maryland and the
District of Columbia.
Oscar "A. Thorup. one Of the veteran
members of the staff of the Remington
Rand Co., is confined TO his home with
illness.
Net profit of Virginia Public Service
Co for year ended December 81, 1881,
was 81 ,444O22 after depreciation, taxes,
interest, etc, comparing with $l,526,7l8
il 1880. Gross earnings amounted TO
S7844,95 against $7,537 1856.
Poor's analytical services have been
augmented by the issuance of a weekly
economic compendium and market
guide known as Business and Markets,
containing interpretative discussions OF
political foreign and domestic develop
ments as well as charted indexes or
ANALYSES of commodity and security
markets, with recommendations based