Evening star., 1934-06-18

believed Ill GIlc Ef8$4*8 p kzX
financial district t$$ M
that the May re- M
suits will be about % u
the same Accord s. S. Huebner.
ing to the COM
pany's advertisements in the street
cars, $4,000 Washingtonians buy the
dollar passes every week. They were
being sold at practically that same
rate in May. The total sale of these
paSteboards, together with the single
fare and token business, is certain to
make a fine showing.
Total net earnings of the Capital
Transit Co. in the first five months
of operations were $3.50, O,ll3.0l,
equivalent for this period to S2O4 a
share on the $24 100000 of capital
stock. This means that the net earn
ings for the first half year will be well
above s204 share.
In April the company carried IA
504,5l2 revenue passengers. Total
revenues amounted to S727,9lO.3l
while expenses called for $572,38O.72,
resulting in an increase in earnings
over March of approximately $1,000.
1t will cause no surprise in the flnan-
cial district if the company main
tanned or even surpassed this record
in May. The figures will soon tell.
Huebner Visits Washington.
DR.. Solomon S. Huebner, educa-
tional director for the Massachusetts
Mutual Life Insurance Co. and dean
of the American School OF Life Under
writing, will hold a one-day sales
clinic at the Lee House for the mem
bers of the John F. Cremen Agency
today.
DR.. Huebner, who is not only head
of the Insurance School of the Uni
versity of Pennsylvania, but also one
of the leaders in national professional
underwriting, holds the unique po-
sition of father" of professional life
insurance in America.
He has addressed the District Un-
derwriters' Association on several oc-
casions and is always welcome here.
Office Opened in Capital.
Brown, Hartman & Co., Inc, whose
executive personnel consists of former
partners of Brown Bros, Hartman
& Co. and former officers of the City
Co. of New York, commenced business
today in New York and 20 other cities,
including Washington.
The firm will engage in the general
investment business as underwriters
of capital issues and as dealers in
United States Government, State,
county and municipal bonds and in
railroad, public utility, industrial and
other investment securities.
The Washington Office of Brown
Hartman & Co., is in the American
Security Building. William Miller,
who, during the past year or more, has
had charge of the Washington Office
of the City Co. of New York. Inc,
formerly the National City Co., has
been appointed manager and will
have charge of the investment buSi-
ness here and throughout the South.
Favors Milk Investigation.
Commenting on the congressional
resolution calling for an investigation
of the milk industry, Thomas H. Nc
Innerney, president of the National
Dairy Products Corporation, which
has an important Washington unit,
said:
1T is the sincere wish Of the Ma
tional Dairy Products Corporation
that an impartial investigation into
the milk industry result in an accurate
and thorough analysis OF the eco
nomics of that business. The public
has been confused by the many con-
f1icting statements about milk costs,
profits and prices.
Moreover, milk is so important to
the public welfare that it is particu-
larly desirable that the public should
understand the operations OF the milk
industry and have confidence in them.
National Dairy Products Corporation
will cooperate fully by submitting
information which will be helpful to
this end"
Will Buy More Bank Stock.
Chairman Jesse H. Jones OF the
Reconstruction Finance Corporation
told the Harvard Business School
alumni that there is no R. F. c. dis
position to interfere with bank man
agement, although the corporation
will soon be a stockholder in half OF
the banks in the country. There Will
be no reluctance about protecting the
Governments investment, however.
The main purpose is to restore
credit and reconstruct credit facill-
ties, he added, and preferred stock
and capital notes will continue to be
purchased. So far the r. F. c. has
bought capital stock in 1000 banks
amounting to $1,10o,0 100000. Loans
to closed banks on sound assets will
continue to be made.
Chairman Jones believes that 1t is
highly essential that the R. F. G. be
allowed to make direct loans to in
dustry. Relief problems will continue
to multiply otherwise, he asserted.
Railway Bonds in Favor.
Washington Railway & Electric 4s
led trading on the Washington Stock
Exchange as the weeks business
opened. Five $1,000 sales were re-
corded, all at the strong price of e6
Washington Gas IS, series B, re-
corded a small sale at 1o234.
In the stock division, Washington
Railway & Electric preferred came
out at SO again, on four small lot
transfers Mergenthaler Linotype
opened at % on three small sales and
CLOSED WIN single snare SelunS at
23H.
American Telephone & Telegraph
Co. will probably show in the first
half of this year a gain in excess of
100000 telephone stations, contrasted
with a heavy loss In the like period
a year ago. New stations have re-
Gently been at rate in excess of that
figure
Prof. o. M. Sprague, former adviser
to the Secretary of the Treasury, does
not see any immediate danger of adop-
tion of unusual monetary devices by
the Government. He expects the
Government will try to stimulate busi-
ness by further large expenditures.
Largest Land Bank Issue.
Today's Federal Land Bank bond
issue was the largest ever offered and