Evening star. [volume] (Washington, D.C.) 1854-1972, 1937-11-18
v. R. & f. ORDERS
DIVIDEND Of STA
Special Payment to Be
Made November 80 to
Holders of Nov. "a.
BY EDWARD c. STONE.


the financial district today.
The special" will be paid on No.
vember 30 to stockholders of record on
November "a, the announcements
stated.
Washington Railway & Electric di-
rectors only recently declared the reg
ular quarterly dividend of 50 a share
due at this time
With the four 50 quarterly dividends
and the Sl4 special just voted. tie
company will pay $50 a share on the
common stock this year.
The stock is the highest priced issue
on the Washington Stock Exchange.
The last sale was recorded at 1925 a
share, and it sold at one time this
year at SIPS a share.
The present bid for the stock is
better than $500 a share. The action
by the directors is in line with that
taken by other corporations all over
the country, deluee Of special and
extra dividends having been voted in
the past few days.
Sales Near Nine Year Mark,
Daily average sales of general mer-
chandlse in small towns and rural
areas for October were about 81, per
cent abovt October of last year and,
with the exception of December, 1896.
and December, 1929, were higher than
for any month during the past nine
years the Bureau Of Foreign and Do
mestlC Commerce reports.
Total sales for the first 10 months
OF the year showed an increase of
about 8i2 per cent. as compared with
the corresponding period of 1896.
The report is constructed from fig
ures furnished by three large mail Or
der companies for sales by mail only,
and by a large group of chain units
operating in small towns nd cities of
the agricultural regions of the country.
Only those chain units are included
which have been in continuous opera
ton during the periods compared.
Washington Man New Official.
James M. Hood Of Washington, pres
ident of the American Short Line
Railroad Association, which maintains
offices IN the Union Trust Building,
has been elected vice president of the
Transportation Association of Amer
lea, according to the Associated Press.
He has been a director in the organi-
zatlon ever since 1t was founded sew
eral years ago The organization is
made up of shippers and others having
a special interest in all transportation
problems and policies. Formerly from
Ohio, Mr.. HOOD has been a Wash
tngton resident for many years.
T. T Harkrader. New York. was
elected chairman of the board James
L. Madden, New York, chairman of
the Executive Committee. and j. A.
Gordon New York. president. Mr..
Hood attended the annual meeting
held in Chicago
Housing Sales Upturn Noted.
Edward c. Baltz, new president of
the United States Building and Loan
League, reports that houses are now
being sold at better prices than have
prevailed since 1880 and that there
has also been a definite accpleratlon
OF such dwellings into private hands.
1t Is estimated that between March
81 and September building and loan
associations in the United States sold
properties involving about Sl45 900 900.
MI. Baltz added that the sales of
homes by the different associations to
private individuals during the period
were characterized by larger down
payments than were experienced with
similar properties in previous depres-
sionS.
Pump Printing" Is Opposed.
Opposition to pump printing" by
the Federal Government in order to
check the doWntrend of business is
expressed by Henry H. Hermann, ex-
ecutive manager of the National Asso-
citation Of Credit Men, in his current
m 0nthly review of business, received
TODAY by the Washington association.
Perhaps at no time since 1882"
the credit head declares. has Wash
ington been IN better position to aid
the resumption Of the recovery move
nent. Despite some demands from
certain quarters, however. this govern
mental stimulation should lot mean
pump printing. We should realize by
now that business stimulation by Gov
eminent expenditures is mainly a nee
die in the arm When the injections
are discontinued the patient suffers a
reaction.
More pump printing would mean
eventual imitation" he told the men,
bers here.
Nine Banks Granted Loans.
The Reconstruction Finance Corp.
announces that loans were authorized
during October TO nine banks and trust
companies in the amount OF S513,994.
Rescissions and Withdrawals of loans
to banks, including those in liquida-
ton, amounted to S2,1l9,167. the re-
port said
The Federal Home Loan Bank Sys-
tenn announces that the books for the
new offering of s25,000,0OO three-year
2 per cent consolidated debentures, Sc
ries C, have been closed, the issue
being many times oversubscribed by
dealers in ali parts of the country.
The Chesapeake 81 Ohio Railroad
reports for the first 10 months Of this
year a net income Of S373 a share on
the common stock. against SAC a
share on common in the like period
In 1896.
Robert J. Cottrell, executive secre-
tary Of the Washington Board of
Trade, addressed the American Bust
ness Club at the weekly meeting at
the Hay-Adams House on District
Taxes"
b. & o. Net Earnings Higher.
The Baltimore g. Ohio Railroad re-
ports net income for the first nine
months this year equal to 80 cents a
share on 588,632 shares of 4 per cent
non-cumulative preferred stock COM
pared with AZ cents a share on pre-
ferred stock in the first nine months of
1886.
Paul F. Grove. life underwater and
representative of the Home Life In
surance Co. of New York, is in Roches-
ter, N. Y, today where he was invited
to address the Rochester Life Under