Evening star., 1935-04-15
TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE
RECEIVER NAMED
FOR. SIGNAL FIRM
CroWeII Given Miller Train
Control Corp. Position.
Shares Held Here.
BY EDWARD C. STONE.

and treasurer of the Miller Train Con-
troll Corp, has been appointed re-
ceiver for the concern by Judge Rich
ard S. Kerr of the Corporation Court
Of Staunton, on petition filed by
various stockholders and creditors
through Attorneys Thomas H. Lion
ef Manassas and j. H. May of Staun-
ton.
The dispatch adds that Attorney
RAYMOND H. Hudson of Washington
has filed an answer for the Miller
Train Control Corp. consenting to the
appointment of the receiver. The
stock of the company is widely held
in Washington and there has been
much interest in it for many years.
For q long time the price of the stock
was carried in the unlisted depart
ment Of the Washington Stock Ex-
change.
The corporation owns number of
patents on train control and traffic
regulation devices and signals, some
Of which are installed in Washington
and other cities. Before going into
the street intersection signal business,
the corporation devoted its attention
to supplying signals for railroads.
For time the concern had rosy
outlook. That was when the Inter
state Commerce Commission ordered
all the railroads in the United States
to install train control safety devices.
When railroad incomes took such a
f,,r,
rule and gave the roads great deal
more time in which to install various
safety appliances. Naturally, that was
a severe setback to all firms dealing
in railroad signals.
The court at Staunton has appoint
ed Attorneys Minor Hudson, Thomas
H. Lion and Raymond M. Hudson to
represent the receiver and defend any
legal suits and assist in leasing the
corporations building in Staunton and
in the sale of the assets. For some
years the firm maintained Wash
ington Office.
Will Handle Liberty Transfers.
Washington bankers said today
that they were prepared to serve their
patrons in connection with the calling
for redemption of all outstanding
fourth Liberty Loan 4l4 per cent
bonds, l933-l938, which will cease
paying interest on october Is, 1885.
When holders of these bonds wish
to take action they may surrender
them at the banks and ask for collec-
ton, or may arrange to exchange them
for other Government bond issues.
The Treasury announcement sent to
ell banks here by the Federal Reserve
Bank of Richmond states that hold
ers of these Al. Liberty bonds may
in advance of the redemption daGe
be offered the privilege Of exchanging
any part of their bonds for other in
terest- bearing obligations of the United
States, regarding which further public
notice will be given.
The amount of fourth Liberties just
called for redemption is Sl,250 600 900.
The fourth Liberty bonds were orig
inally issued in october, 1918, in the
amount of s6,965 100000. Prior to the
first call in 1888 about 100000 900
had been retired. approximately
$4,000 900 900 have been called up to
the present time. of which S3l5, 1000 900
we're refunded and about $500, 600, 900
paid In cash.
First Quarter Brings Cheer.
In backing up their recent claims
regarding a most optimistic outlook
for business and industry. financierS
here today pointed to the latest review
by Dun & Bradstreet, which says in
part:
Continuing the broad advance,
which exceeded seasonal proportions
during the final three months of 1884,
industrial activity during the first
quarter of 1885 assumed the quickest
pace registered for many divisions in
any comparative period back to 1880.
Although the forward movement
slackened during part of March, be-
cause of the retardative influence eX-
erted by political uncertainties, it IS
significant that, in the opening quar-
ter of 1885 definite progress was main
tanned, whereas in recent years this
period was marked by irregularity or
uninterrupted recession. For the
abruptness of the rise and the extent
of the gain, a new high was recorded
for some divisions.
The trend of the seven primary
factors. which form the base of this
survey, was decisively toward improve
ment. a continued decrease being
shown for commercial failures, while
commodity prices were maintained at
a high level, despite the reactionary
development at the beginning of
March. During the greater part of
the first quarter, weekly bank clear
ings were in excess of the comparative
1884 aggregates. with the March total
reaching a three-year high. At the 81
cities outside New York almost no de-
clines from the previous years levels
were shown, while at New York City
noteworthy gains appeared, with the
exception of three weeks"
Bankers Back From Resort.
The members of the District Bank
ers' Association who are chairmen of
the convention committees planning
the coming gathering at Hot Springs,
Va, we're back today from week
end trip to the Virginia resort. Final
plans were discussed for the June
meeting The Homestead Hotel man.
agement is arranging for added fca-
lures in the way of entertainment and
comfort this year and the success Of
the bank meeting is already assured
Those taking the trip included
President F. P. H. Siddons. Hilleary
G. Hoskinson, Thomas j. Groom
Lanier P. McLachlen, Robert L
Flather. B. L. Cotton, Robert H. Lacey
William v. Simmons and A. Scott
Offutt.
Capital Transit Sells Lower.
Capital Transit stock opened dowr
to 10 today on the Washington STOCK
Exchange, dipped to 1874, a new Low
on the present move, and CLOSED
at 10, only small lot sales being re.
corded. The final bid was 1872, with
the stock offered at 20.
Washington Gas IS, series B. wert
strong again today, small sales taking
place at 1031a. Washington Railwa.
& Electric preferred stock was alst