Evening star., 1938-12-09
Carpet Corp. Declares
Usual Dividend Of
50 Gents a Share
Stock Now Selling Near
Years High Mark on
Capital Exchange
BY EDWARD C. STONE.

clared the regular quarterly divi-
dend of SO cents per share on the
outstanding stock, payable Decem-
ber 20 to stockholders of record
December u, it was announced in
the financial district today. The
stock is listed on the Washington
Stock Exchange and is now selling
around $25 share, the 1888 high
mark. Earlier in the year it sold
at S21 a share on very light turn
over. Selling at $25 share and
paying So year. the stock returns
the unusually high yield of per
cent.
Declaration of an extra dividend
of S14 a share on Washington Rail-
way & Electric common stock brings
that issue into the limelight once
more. Payable December 20 to
holders of record December 13, the
years dividends total $50 share,
four quarterly dividends of SO each
already having been declared. This
is by far the highest dividend paid
by any stock on the Washington
exchange.
Holders of the stock are so we'll
satisfied with it that only seven
shares have been sold on the ex-
change all this year. The last sale
was made at $616.50 share. The
present bid stands at $3.50 share,
with none offered at any price.
The $50 dividend payment is the
same as was voted in 1887.
Washington Railway & Electric
preferred stock is now selling around
Sis share. The next regular
quarterly dividend of SIPS per share
will be paid on March l. At that
time regular quarterly dividends on
Potomac Electric Power Sc and 6
per cent preferred stocks will also
be paid, the directors have an
nounced.
Scissor Addresses Bankers.
F.. w. Selsor, assistant superln-
tendent of the surety claims division
of the Fidelity e. Casualty Co., New
York, gave a most informative talk
last night before the auditors Sec
ton of the District Bankers Asso-
citation on "Defalcations." He cited
many specific cases and pointed out
the special conditions which are
often the guiding factors in such
matters.
The meeting was one of the most
interesting held in several months.
Chairman Gerald E. Keene presided
and about 40 members were present.
F.B. Burdsall, manager of the Wash
ington Office of the Fidelity & Cas-
ualty Co., and Raymond L. Morton
of the same Office were guests of the
section. The meeting was held at
the Lee House.
Fiduciaries' Section Meets.
Stanton c. Peelle, widely known
Washington attorney, addressed the
Fiduciaries section of the District
Bankers Association at dinner
meeting last night at the Mayfower
Hotel on Trust Investment Re
sponsibility and Liability in the Dis
trict of Columbia"
His address was most timely, the
meeting being considered one of the
best in many months. The attend
ance was large, Chairman j. Eliot
Moran presided and the program
was arranged by Raymond G. Marx.
All other business was sidetracked
for the address of the evening.
Suffers Death Causes Regret.
News of the death today of Jesse
l.. Suter, for a long time member
of the staff of Laidlaw g. Co., New
York Stock Exchange firm, was
heard with deep regret in the finan-
cial district. He died in Emergency
Hospital of pneumonia.
Mr.. Suter was associated with G..
Bowie Chapman long time and had
a great many friends. He had been
Ill for months and resided at the
Chevy Chase Club. He was men,
ber of several other clubs.
Many years ago he was head of
the publicity service at the Post
Office Department and came in con-
tact with host of Government Of
flcials. He had an unusual person.
ality and will be greatly missed.
Johnston Presents Viewpoint.
James M. Johnston president of
the Washington Stock Exchange,
presented the viewpoint of the local
exchange at round table confer
ence with New York Stock Exchange
officials yesterday in Wall Street.
Philadelphia, Detroit and Cleveland
were also represented.
The New York Exchange holds
that local stocks should be listed on
the local exchanges, but at the same
time is trying to broaden the New
York list by adding stocks having
national interest. This was the first
meeting with officials of smaller ex-
changes.
The outside exchanges are willing
that New York should increase list
ings provided such action does not
hurt the volume of business at home.
Today's Trading on Exchange.
Washington Gas Light preferred
was again in demand on the Wash
ington Stock Exchange today, SELL
ing at 1047s, off from los in yes
terday's market. One sale today
was at 105.
Washington Railway & Electric
preferred appeared on the board
at 115A. The days bond sales
were confined to several transfers in
Washington Gas SIS, 1860, which
were very strong at 124A.
Washington investment houses
are hoping for good-sized quotas of
the $30,000,000 Chesapeake & Ohio
r. r. refunding 3l2 per cent bonds
due soon.
Heard in Financial District.
Officers and directors of the 13
industrial loans companies affiliated
with the Southeastern Industrial
Bankers, Inc, will be feted at the
annual banquet of the organization
December %, in the Washington
Hotel. Approximately 200 persons
will attend, including the sales Or
ganizations of the respective compa-
nies, according to R. V. Herman,
chairman 0f the proorarn Cop,