Evening star., 1935-03-07
AUDITORIUM CORP.
WILL PAY HOLDERS
Coupon 5 on First Trust
Obligations to Be Met
at Once.
BY EDWARD C. STONE.

ox LDVARD "
Notices were received throughout
the financial district today, signed by
Robert N Harper. president of the
Washington Auditorium Corp. an
nouncing that coupon No. on the
first trust bonds of the corporation
will be paid at once.
This will be good news to the many
holders of these bonds. as the pay
ments of interest have been far in
arrears for several years. The Wash
ngton Auditorium has had checkered
financial career for a long time, in
fact almost since it was opened.
The Auditorium was unable to earn
enough to take care of the cost OF
operation and at the same time meet
the bond interest payments as they
came due. The result was that the
interest payments had to be passed
up over a considerable period. Last
year part of the back payments were
resumed.
Today's announcement indicates
that the corporation is in a better
financial position. The No. S coupons
may be caShed at the Office of the
American Security g. Trust Co.. or
holders may leave them with their
banks for collection.
When the Auditorium was built it
filled compelling need for big
auditorium in the Capital. It was
financial success until Constitution
Hall was erected by the D. A. r. That
step brought about the keenest kind
OF competition, which proved very
damaging to Auditorium earnings. The
present payment. as we'll as being a
happy surprise to host of the bond
holders. may mean that regular pay
ments can be made in the future. The
Washington Auditorium is located at
Nineteenth and E streets and New
York avenue northwest.
Bromo- -Seltzer Earnings Gain
The report of Emersons Bromo-
Seltzer Inc, for 1884. has just been
made public and is of special interest
here because the "a" stock is listed
on the Washington Stock Exchange.
The report shows net income Of
S1,177,546 after interest and taxes,
equivalent after dividend require
ments on 98,598 shares (par 25). of 8
per cent cumulative preferred stock
excluding 36l shares held in treasury,
to S1.45 a share on combined 50,567
shares of class A excluding 4.967
shares held in treasury and 625,l18
shares OF Glass B excluding $50
shares held in treasury. Both Glass A
and Glass B stocks are of $3.50 par
value This compares with S532 403
or 49 cents share on combined
50,56O shares of Class A and 625,041
shares of Glass B stocks in 1888.
The "A" stock pays s1.60 a year
dividend. The issue has been very
quiet on the Washington Exchange
for long time. The stock now stands
at 18 bid and % asked The widely
known company's head office is in
Baltimore.
Fewer Failures; Losses Lower.
In his detailed review of conditions
20 far this year, Chairman HoXton
of the Richmond Reserve Bank states
that in the fifth district, January,
1885, failures numbered only IS, with
liabilities amounting to $500 ,482, COM
pared with SO insoivencies for a total
Of s1,764,717 in January, 1884, de-
creases Of "a per cent and 72 per
cent in number and liabilities, re-
spectively. Figures for both number
Of failures and aggregate liabilities
involved were the lowest reported for
any January since 1920, and the dis
trict decreases in comparison with
January, 1884. figures were consider
ably larger than the national de- |
clines in both number of failures and |
liabilities involved
In reviewing the employment situ-
alton, the Reserve agent says that |
weather conditions hurt outside work |
Of all kinds early III the year. Clos
ing of the tobacco markets released |
several hundred warehouse employees |
too early for Spring farm work to |
absorb them.
Other industries in the District are |
nearly all using normal quotas of work. |
ers, he adds, but construction work !
continues N small volume and ap- /
pears to be the chief obstacle to eco
nomic recovery.
Banks Get Treasury Notices.
All Washington banks received
word from the Federal Reserve Bank
of Richmond that subscription books
for the current offering of Treasury
notes of series A-1940 will close at the
close of business Friday, March 8.
Subscriptions placed in the mail be-
fore midnight, Friday, March g. as
evidenced by post Office cancellation,
will be considered as having been en-
tered before the close of the subscrip-
ton books.
Subscription books for the Treasury
bonds of 1955-60 will remain open
until further notice for the exchange
of Fourth Liberty Loan bonds called
for redemption on April Is, 1885.
Today's Trading on Exchange.
Capital Traction stock sold higher
on the Washington Stock Exchange
today than yesterday. In very light
trading it moved at 2514 and closed at
25, up half point for the session.
Washington Railway g. Electric pre-
ferred sold at 103.
Mergenthaler Linotype was active.
opening with 100 shares selling at 80.
Later 20 shares and Z shares sold at
the same price, unchanged from other
recent sales.
In the bond division there were two
$1,000 transactions in Washington
Gas SIS, 1860, both at lis, a new high