Evening star., 1934-09-04

president of the District Bankers As
sociation, will speak for that organiza-
tion and Raymond B. Dickey, for
many years dean of the institute fac
ulty, will also address the young
bankers.
The leading speaker will be Con-
troller of the Currency ]. F. T. O'Con-
nor, who is to make an address over
the radio to all the institute chapters
at the same time He will be heard
from some 10 radio stations.
Certificates won in last years school
work will be presented to the grad
uates. Many prizes for extra high
grade work will also be awarded. The
woman student making the highest
grade in the standard banking course
will be presented with the special $25
prize given every year by the WASH
ington Bank Women's Club. The pro-
gram will include many other inter
esting features.
Mergenthaler's Net Jumps.
Reports current in the financial dis
trict indicate that the Mergenthaler
Linotype Co. will show a betterment
In earnings during this fiscal year of
between 100000 and $1,000,000. For
the fiscal year ended September 30,
1888, the company reported net loss
of 1858 ,253, while in the previous year
the deficit was S994,253.
During the present year, which con-
cludes at the end of the present month,
an increase of nearly $1,000,000 will
be shown, after depreciation. This
betterment will mean that the COM
pany will at least break even and
probably show a modest net profit
The hundreds of shareholders in
Washington will be delighted to learn
that Mergenthaler will probably get
back into the black after the past
two difficult years.
This remarkable turnabout of some
thing over 100000 in earnings in the
past II months completely changes
the outlook If the company gets back
into the black now, the prospects for
next year will be highly favorable. 1t
is understood that gross business in
this country has been SIS per cent
ahead Of the same period a year ago
and that the business of the British
subsidiary reveals even greater i'm
provement
Especially encouraging to share
holders should be the fact that the
improvement has been made during
a year when full compliance with the
N. r. A. rules has been a factor
Wage cuts have been restored in spite
of higher operating expenses due to
shorter hours. Last year the stock
sold on the Washington Exchange
around 81 and %. So far this year
1t has not reflected the better earn
ings, as 1t is selling around 2l and
%. However. it is only a question
of time, provided the present sharp
upturn in earnings continues. before
the company will be able to resume
dividends, which were paid regularly
for 40 years before the depression
came along.
Today's Trading on Exchange.
In the first after-Labor day trading
on the Washington Stock Exchange
the opening transactions were il
Lanston Monotype. This was strong
two lots changing hands at 48.
Mergenthaler Linotype also cam'
out on the board, one 10-share 10
changing ownership at 2ll2. same a
other recent sales. 1t closed with 212!
bid and 2214 asked In the bont
division Capital Traction SIS figures
in a $500 sale at 88.
Payment of regular dividends b.
Potomac Electric Power and Washir G
ton Railway & Electric leaves onl
one stock now ex dividend, People
Drug Stores preferred. This compan
will soon declare a regular quarterl
dividend of $l62H.