Evening star., 1941-11-19
October Gas Sales
Below Year Ago
In Washington
Mild Weather Blamed;
Ten-Month Volume
Remoins Ahead
By EDWARD c. STONE.

lOl llle tlIIlc VI SCdl lhdoc Sood0
sized dent in the monthly sales
of the Washington Gas Light Co.,
officials announced today. Sales fell
behind the same month in 1910.
Gas sales in October totaled 917,-
243 mcf. 1000 cubic feet in COM
parison with 1,0O5,5l6 m.cf. in Octo-
ber last year, a decrease of 1928
mcf., today's report showed
Sales in the first 10 months of
this year. however, were well ahead
of the like period in 1910, In the
10 months sales total 1861 ,524
m.cf. against l1217.528 year ago,
a notable increase of 443.996 m.c.f.
and new 10-months sales peak.
With normal weather conditions
during the remainder of the year.
the company's sales will run we'll
ahead of the 1910 mark. in the
opinion Of officials. Last year sales
we're heavy in both these months,
Sales In September this year estab-
hshed a new high record for that
month.
Two Extra Dividends Declared.
The Board of Directors Of the
lincoln Service Corp. at its meet
ing held today declared an extra
dividend of 25 cents on the common
stock. and | per cent extra on the
6 per cent participating preferred
stock.
Regular dividends were declared
on the per cent preferred stock OF
IA. per cent, and also the regular
dividend on the 6 per cent par
ticipating preferred stock OF y per
cent, and the regular quarterly
dividend of 25 cents on the common
stock. All dividends are payable on
December II to stockholders OF
record on November %.
The directors by unanimous action
placed the common stock on a
regular S125 annual basis, effective
January l. 1912. increasing the
regular common stock dividend by
25 cents per share per annum. This
action automatically results in plac-
Ing the 6 per cent participating
stock on a 7 per cent basis.
Todays Trading on Exchange.
CAPITAL Traction first SIS opened
trading on the Washington Stock
Exchange today with $4,000 and ST.
900 transfers at los.
Capital Traction stock was also
active, opening with two 30 and one
u share sale at l53s unchanged.
Later 40 more shares changed hands
at 15l4.
Mergenthaler Linotype was the
most active stock on the board. The
market opened with a l00-share
sale at 26s4 against yesterdays S
close at 27.
Later so, 40 and 81 share lots sold
at the the same figure. The mar
ket closed with 26S. bid and 2712
asked.
One hundred shares of Washing
ton Gas common sold at 17l2.
The exchange, all the banks
building and loan associations, and
investment houses will be closed to-
morrow for Thanksgiving Day.
Railroad Earnings Climb.
The Pennsylvania Railroad reports
for the nine months ended Septem-
Der 80 net income equal to s2.81 a
share on the capital stock, against
e1.93 a share in the like 1910 period.
The Southern Railway reports for
the first nine months OF this year
net earnings amounting to 1888 a
share on the common stock. as COM
pared with 1888 a share in the
same months in 1910.
Washington investment dealers
are awaiting an issue of $4,000 900
Philadelphia Electric bonds which
are expected to be offered to the
public next week Five or six bids
are expected next Monday. under
competitive bidding. Investment
bankers hope to get the issue and
reoffer it at once.
Directors of julius Garfinckel &
Co., Inc, have declared the regular
quarterly dividend of 37l2 cents a
share on the company's preferred
stock, payable December 81 to stock
holders of record December Is, and
the regular quarterly dividend of
17la cents a share on the company's
common stock, payable December
81 to stockholders of record Decem-
Der IS.
Directors of International Busi-
ness Machine Corp, which has a
Washington Office, have declared a
quarterly cash dividend of $l.5O a
share on the capital stock, payable
December %, to stock of record De-
eember II. and in addition 5 per
cent stock dividend to be issued on
January %, 1912.
A. B. A. Raps P yistration.
Members of the American Bank
ers Association appeared before the
House Interstate Commerce Com
mittee yesterday and vigorously
opposed the amendment to the Sc
curities Act which would force regis
tration of new issues which are to be
sold privately.
A L. M. Virgins, chairman of the
A. B. A. Committee on Federal
LEGISLATION. was the first witness
Others were Edward c. Brown, pres
ident, First National Bank, Chi
cago, and Edward L. Love, vice pres
ldent, Chase National Bank.
They declared that compulsory
registration with the S. E. C. of pri-
vately placed securities would i'm.
pede the flow of capital into indus
try and would deprive business Of itt
best and least expensive method Of
raising money.
This position is in opposition to tina
of the Investment Bankers ASSocla'
tion which last week urged that al
new issues over SO 5000 900 be required
to register with the S. E. c. regard
less of whether they were to be SOLE
privately or publicly.
Mr.. Virgins told the COMMITTEES
the real purpose of the proposal wa
10 divert into the hands of invest
nent dealers and underwriters par
of the funds now obtained by indus
trv from the banks and other insti
tutions. He declared that banks ar
already effectively regulated by Fed
eral and State agencies. No othe
agency should be given authorlt,
over bank investments, he asserted