Evening star., 1942-12-04

NJIUObCA --- 1lO,Clf
November -- 246,50l 2o1 ,85l
Barber L. Ross Dividend Voted.
Directors OF Barber & Ross Co.
have declared dividend of SO per
share on the preferred stock, pay
able December Is to stockholders of
record December /, William l..
Browning, president, announced to-
day.
The company some time ago re-
tired It's entire outstanding bond
issue of 100000, and under the
terms OF the preferred stock the
company was authorized to pay out
OF current earnings each year, If
conditions justified it. a dividend
not to exceed SO per share.
Pursuant to proceedings under
Section 77B of the General Bank
ruptcy Act. the company was re-
organized on December l, 1885, and
since that date the financial state
ment shows net earnings Of over
100000 which, added to the sur
plus on January 2, 1896, shows a
net worth of about 81 900 900 after
paying D. c. and Federal income
taxes of over 100000 during that
period.
Maj, Browning was one Of the
trustees in the reorganization plan,
and upon consummation of the plan
was elected president. The latest
quotation on the preferred stock is
S55 per share.
The board has voted a bonus to
It's officers and employees, ranging
from one to two months salary
based upon the position held.
ID. C. Stores Amply Stocked.
The Federal Reserve Bank OF
Richmond reported today that
Washington department stores had
1s per cent more goods on hand at
the end of October than on the
same date last year, same as the
percentage for the Fifth District.
Orders for goods at the end of the
same month were 13 per cent higher
than last year both in the Capital
and the Fifth District. Outstand-
ing orders in Richmond were 36 per
cent higher than last year but only
2 per cent in Baltimore. Outstand-
ing receivahles in the Capital were
% per cent lower and 81 per cent
lower in the Fifth District.
October collections on open &C.
counts were SO per cent of bills due
while collection in installment ac'
counts IN the stores here were 2.
per cent of bills due on october l
both records being much better
than last year over the same month
in 1910, the report stated.
Mortxage Dividend Declared.
Directors OF the National Mort.
gage and Investment Corp. have de.
clared a dividend on account O.
accumulated dividends on the pre-
ferred stock, making IS cents paic
on each share during the present
year, Joseph B. Schaaff. president
announced today. The dividend viii
be paid soon.
Francis A. Murray, vice president
OF the H. G. Smithy Co. and pas'
president of the Washington Rea
Estate Board was elected a member
of the Board of Directors, succeed
ing the late David S. Stanley.
Bankers Fix Meeting Date.
The usual midwinter meeting o
the District Bankers Association
will take place at the Columbis
Country Club on the evening of Jan
uary Is, John A. Reilly, president
announced today.
The meeting is to be dedicated
to the bank presidents Of the city
guest speakers to be announced a
an early date.
Traction Bonds Higher.
Capital Traction IS figured in 9
$1,000 sale on the Washington STOCK
Exchange today, at l05%, highest
price in several months. Washing
ton Gas common moved at 141a fol
33 shares and l47s for 20 more.
Riggs National Bank preferred
changed hands at 1ol and American
Security & Trust at 1907, both
small sales.
For the IL months ended October
81. the Washington Gas Light Co
reports a net income of $1.124,567
against $l,25l,1os year ago.
S1.s73,ooo, 900 Bonds Sold.
The Treasury reports that cash
receipts from the first days sales
in the Victory Fund Campaign
amounted to $1,S73, 5000, 900. About
1901, ,0o0, 900 was put into certificates
and $1,572, 900 900 into bonds.
The United States Trust Co., New
York, has voted the regular quarter
" dividend Of SIS a share and an
extra $40 per share. payable January
Z to stock Of record January 4
Stock is now selling at $1,025 a
share.
Class l railroads in the Southern
district In the first 10 months OF
this year had an estimated net In
come, after interest and rentals, OF
e10s. 100000 compared with 60,S86,