Evening star., 1932-04-25

1000 anu SldQu-
ated frcm the University of wisconsin
in 1908. He was identified with the
early work of the first State system Of
pubic utility regulation, in Wisconsin,
originally as a member of the Wiscon-
sin Railroad Commissions engineering
department and later in charge Of its
statistical and research department. In
1911-12 he was special lecturer in pub
lie utility economics at the University
Of Wisconsin
In 1912 he became assistant to the
vice president of the North American
Co, in 1914 assistant to the president,
in 1920 vice president and in 1921 vice
president and general manager Mr..
Gruhl has also been president of North
American Edison c., subsidiary, since
its organization in 1922.
Jump in d. C. Building.
Construction contracts during the
first Is days of April amounted to $58,-
169 500 in the 81 States east of the
Rockies according to F. w. Dodge Cor
poration. OF this, residential building
amounted to S13,9l3 300; nonresident
tial building to $685., 800, and pub
lie works and utilities to $40, ,423, 500.
OF the Is various territories COM
prised of the 81 States east Of the
Rockies, the Middle Atlantic territory,
which comprises Eastern Pennsylvania,
Southern New Jersey, Maryland, Della
ware. District of Columbia and Virginia,
reported the largest total of new con-
struction contracts for the two-week
period with total Of S1l ,603,000.
! METROPOLITAN New York and vicinity
fell into second place with its two-week
total of SO. 1893 800 The Chicago terri
tory reported S6,708, 500 in construction
awards during the first two weeks OF
April.
Daylight Saving Under Way.
Washington brokers came downtown
early today to greet the ticker when it
started off at 9 instead of 10 o'clock,
the Summer schedule going into effect
on the New York Stock Exchange.
Many traders. however, must have over
slept. as trading started off very quietly
from about where quotations left of
Saturday The market is still awaiting
constructive news on which to stage an
advance. in the meantime digesting poor
first quarter reports. Right now many
traders and brokers are thinking more
about the short-selling investigation be-
fore the Senate Committee than they
are the changes in quotations. TWO
bright spots today were reports OF
definite upturn in motor sales and
more generous loaning policy by New
York banks.
A. B. A. Council Meeting Opens
Numerous questions of banking
policy, economic conditions and f1nan-
eial practices came up for discussion
at the Spring meeting of the Execu-
tive Council of the American Bankers
Association, which opened today at
White Sulphur Springs, w. Va. Today
fxf~n -
of various committees and commissions
which fix the administrative policies
of the organization and prepare de-
tailed studies on specific public ques-
tons. These findings will be reported
at general sessions tomorrow Presi-
dent Harry ]. Haas is presiding. Three
local bankers, F. G. Addison 1r.;
Robert Fleming and Howard Moran,
are in attendance.
Junior Bankers Capture HOnors.
Washington Chapter, American In
stitute Of Banking, won the first half
of the bowling match with Baltimore
Chapter by one pin. The local stars
included James Bruen, A. E. Henze
and j. Earle McGeary, w B. Hibbs &
Co; Aubrey o. Dooley and Joseph D.
Yerkes, Federal-American; Arthur c.
Doying, Washington Loan & Trust;
w. N. Crimes and Frank M Perley,
American Security & Trust; Ellsworth
Meyer, Franklin National, and Robert
A. Sisson, Washington Savings Bank.
d. C. Exchange Changes Time.
Following action by the board of gov
ernors, it was announced today that the
daily sessions of the Washington Stock
Exchange will begin at 1915, instead
IT - ytrffI ho
light saving schedule now in effect on
the New York Stock Exchange. The
new schedule will go into effect tomor-
row, the 10:l5, of course, being Eastern
standard time
Business was light on the local Ex-
change today. Potomac Electric Power
5l2 per cent preferred registered 102
and there were two 81 900 transactions
in Capital Traction SIS at SIS.
Exchange members were much in
terested in the quarterly report Of Peo-
Piles Drug Stores. Inc, which showed
50 cents a share on common. after
preferred requirements were covered,
against 66 cents share in the hike
period year ago. 1t was considered
O good report.
New York Bank Stocks React.
The New York City bank stock mar
ket during the past week reacted With
the general market but the average
is still substantially above the 1881
low, according to records compiled by
Holt, Rose g. Troster.
The average yield of the 16 leading
stocks, as Of April %, was 8.64 per
cent, compared with a yield Of 8.27
per cent on April lc and 9.84 recorded
On December II, the highest average
yield reported last year.
Based upon the April % figures, the
IS issues now are selling at l0.6 times
their known current earnings, against
Ill times earnings on April l6 and at
81 times known earnings on December
~, the low Of 1881.