Evening star., 1935-04-02
DIVIDEND RAISED
1 BY CARPET CORP.
Quarterly Payment Puts
Stock on Yearly Basis
of SLIGO a Share.
BY EDWARD C. STONE.

of 40 cents per share, The increased
disbursement being payable April is
to stockholders of record April 8.
This declaration places the stock on
an annual basis of $1.60 share as
compared with 81 paid during 1884
Robert PhilipSon & Co., auditors for
the corporation, report that net earn
ings for the first two months of the
present year we're in excess of 80
cents per share.
The Carpet Corp. is food distrib-
uting concern which does an extern
sive business in Washington and sew
eral other cities The stock is widely
held here and is listed on the Wash
ihgton Stock Exchange. The last bid
en- the exchange was SIG per share.
When it was first placed on the mar
ket it sold around S22 share. 1t has
been on the exchange several years.
Earnings Show Sharp Rise.
Charles Delmar, president of the
Lincoln Service Corp, reported to
stockholders today that business In
the first quarter of 1885 was 56.3 per
cent better than in the first quarter
of 1884. Collections were 96.6 per
cent of par, the official pointing with
pride to the apparent care used in
the lending of money.
The volume of business for March,
the report adds, was the second larg-
est in the history of the corporation,
while two individual companies, Ia
koma Industrial Bankers, Inc, and
Dealers Credit. Inc, had the largest
month in their history.
Operation Of two other subsidiary
companies will start during April Mr..
Delmar announces, one in Virginia
and one N Maryland. Opening of
these TWO offices will give the cor
poration six operating units.
Housing Loans on Increase.
There has been a slight pickup in
the number of housing loans requested
by Washingtouians since the District
Bankers Association started its pres
ent campaign calling attention to the
opportunities for home renovizlng un-
der the Federal housing act.
Since these loans were first offered
the public last Fall, there have been
1861 granted by the local banks for
an aggregate amount of more than
$500 900. This is considered as a
favorable record since so many people
are hesitant about making loans for
any purpose while they still owe
money on debts contracted before the
Wall Street smash.
There has been a revival of interest
H., tho ho f1LyprS
association began running special ad-
vertisementS about three weeks ago.
The highest number of applications in
one day since that time was II re-
quests for .oans of $4,000 or less
President F. P. H. Siddons of the
District Bankers Association believes
that considerably more interest will
be shown as soon as the weather gets
a bit more settled and alterations and
repairs can he carried out easily and
at less expense. He considers tie up
turn in loan inquiries and applica-
tions as a hopeful sign.
Business Decline Slight.
While business tapered off some
what between the first of February ano
the middle of March. the decline was
very slight, the monthly review Of the
American Bankers Association says
Such a decline was not unexpected
the magazine Banking adds, because
of the sensational rise between No
vember and mid-January, which car
ried the index from 48 to 63, an
advance of over 80 per cent.
Two distinctly encouraging develop
ments, particularly to banking, have
been noted during the last month. the
review states. One of these was an
upturn in commercial loans, which
carried without interruption through
the four weeks from February to
March 6. The other was the appear
ance in the capital market OF several
large companies with big pieces OF
financing. The magazine continues;
THE decline in the weekly figures
Of commercial loans by all reporting
member banks terminated, for the
time being at least, with the first week
in February at S3,136.000, Be
tween then and the end OF the flrst
week of March they had risen by the
substantial amount of S68,OOO,O ,OOO.
The chief changes were in New YORK,
Boston and Chicago. whose portfolios
increased s40,0O0,000, Sl8,000,00O and
$4,000, 900, respectively"
C. &P. Advances J. C. White.
John C, White, for six years con-
struction superintendent of the Chesa-
peake g. Potomac Telephone Co., mas
been appointed general plant man
ager of the company. In addition TO
his official position, he is president
of the Alexander Graham Bell Chap-
ter of the Telephone Pioneers OF
America and is past president OF the
Telephone Society of Washington. A
native of New England, he has lived
in Washington since he was Z years
old. having been in the employ OF
the telephone company since 1906.
Mr.. White holds two degrees from
National University Law School and
Is a Mason.
Banker to Study New Deal.
An intensive examination of Presi-
dent Roosevelt'S reconstruction pro-
gram and the results it has achieved
will be made by DR.. Henryk Gruber,
president of Polands largest banking
institution-the State Postal Savings
Bank-and head of the Polish Insti-
tute for Collaboration With Foreign
Countries, who arrived in New York
today.
One of the leading financial
authorities in Poland, DR.. Gruber
will make a special study of security
and banking legislation. After two
weeks in New York he will make a
swing around the country, visiting
Washington, Philadelphia. Pittsburgh,
Chicago and other important centers
In addition to the presidency of the
Postal Savings Bank, whose deposits
last year reached an all-time high
and whose turnover was more than
five times the amount of currency In
Poland, DR.. Gruber holds several
other important positions in the Re.
public of Poland.
Today's Trading on Exchange.
Capital fractions SIS, the bond:
which hit a new high mark on ths
washington Stock Exchange yester'
day, again sold at SO today. There