Evening star., 1936-12-04

The opening for
um was of great NJ.
est interest to "' "''''
members engaged in the municipal
bond fields when methods for reduc-
ing or limiting taxation were dis
cussed.
The 1887 official slate is expected
TO contain no new honors for men,
bers from Washington. Y. E. Booker
of this city is already member of
the Board of Governors, as is T.
Stockton Matthews Of Baltimore.
Extra Dividend Declared.
Directors of the Carpet Corp. have
declared an extra dividend of so cents
per share, payable December 18 to
stockholders of record December g..
This extra dividend brings the total
for the present year up to S2.20 per
share, four regular quarterly dividends
having been previously paid. The
stock is listed on the Washington Stock
Exchange and Is widely held by local
investors. Earnings for the first 10
months of the present year are re-
ported as 1927 per share and the COM
pany Is enjoying one Of Its most pros
porous years.
Meeting today in New York, di-
rectors Of the Continental Banking
Corp. declared q 81 dividend on the
preferred stock. Continental Baking
is the national organization which
took over the Corby baking interests in
this city several years ago.
1,013 Drop in Foreclosures.
A substantial decrease in mortgages
authorized for foreclosure in October
by the Home Owners Loan Corp. was
announced at its Offices here today.
This is the second successive monthly
decrease, bringing the rate Of FORE
closure authorizations to the lowest
point since May, it was stated.
The October foreclosure authorize
tions totaled 6,265, drop of 1,013
from September and 1888 from Au-
gust. The total authorizations to No.
vember l were Stab, of which 1926
are uncompleted, 2,225 have been
withdrawn because the home owners
paid up their delinquencies, 1923 have
been suspended by the management
pending negotiations for readjust-
n1ents, 4,273 deeds have been voluntar-
lly surrendered, 1o,549 have been fore
closed with the title in the H. o. L. c.,
6,525 have been bought in by the cor
poration, but the final transfers await
the expiration of redemption period,
and 81 have been purchased by others.
Properties actually acquired by No
vember represent IA per cent of the
total loans.
OF the 6,265 October foreclosure
authorization, it was slated, 874 prop
critics had been abandoned by their
owners and 1874 cases resulted from
the death Of borrowers. During the
readjustments and 715 withdrawn
due to the ability of the borrowers to
pay up their delinquencies.
Express Traffic Increases.
Railway Express Agency's Washing
ton office reports that traffic in the
United States showed an increase of
1903 per cent in October. All 16 oper-
ating departments revealed gains,
ranging from 9 to 1S per cent. The
Robert G. Jones, head of the in
vestment firm bearing his name, is
spending the week in South Carolina
on hunting trip. He hoped to shoot
some quail while on the short vaca-
t1pn.
The sale of 10000 shares of WASH
tngton Gas Light capital stock, set for
November 80. has been postponed to
the latter part of December, according
to announcement by the Securities Ex-
change Commission, with which reg
istration papers were filed some time
ago.
Insurance Meeting Date Set.
Seneca M. Gamble, widely known
sales promotion manager for the Mas
sachusetts Mutual Life Insurance Co.,
will be the guest speaker at the De-
cember luncheon Of the District Life
Underwriters Association next Thurs
day noon at the Willard Hotel, it was
announced today.
Continuation of the upward trend is
anticipated during December, says the
United States Business Service in its
current report, but temporary in
terval Of hesitation should be expected
after the turn of the year. This is
likely to be brought about by D fears
of additional control legislation in
Congress, (O q let-down in imitation
psychology, 90 excess production in q
number of lines and a. by resistance
to increased prices.
Today's Trading on Exchange.
Capital Traction IS opened trading
on the Washington Stock Exchange
today with two $1,000 transactions at
%.
Capital Transit stock next appeared
On, the board, q small lot changing
hands at l51s. Later three l0-share
and one hve-share lot sold at Is fiat
Potomac Electric Power per cent
preferred stock came out In single
sale at III. The bid on the new Po-
tomac Electric Power 3K per cent
bonds has recently shown steadily In
creasing strength. Today found none
Of these bonds for sale at any price.
Other bid and asked prices were un.
changed.