Evening star., 1950-05-25
Lower Net Reported
ByLanston Monotype
As Sales Decrease
By Edword c. Stone

BY Edword c. Stone
The 57th annual report of the
Lanston Monotype Machine Co.,
in the hands of stockholders today,
shows net earnings for the fiscal
year ended February %, 1850,
amounting at $509,577 or $2.03 per
share. In the preceding year
earnings were equal to 1913 per
share.
David S. Hendrick, chairman of
the board, and Joseph Costello,
president, stated that the latest
earnings do not include the oper-
ating profit of two wholly-owned
subsidiaries. the Monotype Co. of
Canada, Ltd. and Campanhia
Lanston do Brasil. These earnings
were substantial.
Company officials considered the
year reasonably satisfactory. With
war shortages largely satisfied. a
dropping off in sales had been ex-
pected. Sales were $750,000 less
than a year ago. The number
of stockholders increased substan-
TALLY.
Fairfax Bonds Sold.
Sanitary District No. of Fair
fax County. Va, today sold SO
million of bonds to a banking
syndicate managed by Phelps,
Fem & Co. The winning bid
named a net interest cost to the
district of 2.5738 per cent for a
combination of 1l2. 2, 212 and
2.70 per cent coupons.
Reoffering to the public is at
prices to yield from 1.30 per cent
for bonds due July !. 1854, to $50
per cent for 1888 maturities.
The proceeds are to be used for
the construction of a. miles of
new sewers.
Mortgage Dividend Voted.
Directors of the National Mort
gage & Investment Corp. have de-
clared a dividend of 80 cents per
share on the account of accrued
dividends, payable June Is to
stock of record May 81, President
j. B. Schaaff announced today.
The corporation owns the Capt.
tai Garage and holds the Nash
automobile franchise in the same
building. The company recently
purchased a rather large lot in
the 1900 block of G street adjoin-
ing the Epiphany Church prop
erty. with a view to expanding
parking operations.
Julius Garflnckel g. Co., Inc,
will pay three dividends on June
80 to stockholders of record June
Is; quarterly of 3712 cents a
share on the common stock, and
the usual quarterly of 343s cents
per share on the 5h% preferred
and 28hs cent a share on the
412% preferred.
State Loan Raises Payment.
Directors of the State Loan &
Finance Corp. have declared a
dividend of 80 cents a share on
the common stock, an increase of
5 cents per share, payable June
IS to stock of record June /, Pres
ident Davis Wier announced.
Regular quarterly dividends of
STA cents a share were also voted
on the preferred stock.
The Liberty National Bank has
declared the regular semiannual
dividend of 4 per cent, equal to
81 share, payable July 3 to
stock of record June %, w. T.
Vandoren, president, announced.
Capital Transit directors today
declared the regular quarterly
dividend of so cents per share,
payable July l to stockholders of
record June IL.
Capital Transit stock climbed
to 3212 in trading on the WASH
ington Stock Exchange yesterday,
or back to the high for the year
The low was 23l2 registered sew
eral weeks ago.
Final Rush for Rights.
Washington Stock Exchange
officials were swamped again to-
day by the final days trading in
Potomac Electric Power rights,
which were to expire at o'clock
this afternoon. About 100000 of
these rights have changed hands
in the last few sessions. a record
never equaled in any other issue.
Investment dealers estimated
today that there will be compara-
lively little stock left for public
sale which starts tomorrow The
price of the new common stock is
$14.50 per share 1t is an invest
ment stock yielding 6 per cent.
Party Draws 300 Guests.
Capital Airlines entertained
about 800 press and radio men at
the annual reception last night
at the National Press Club. Presi-
dent Carmichael and the entire
staff greeted the guests.
Schaler, Butler g. Associates,
1915 I street NV, have been
appointed public relations and
advertising counsel for the Bern
hard Altman Corp, makers of
cashmere products.
President Max w. Shoup and
President-elect Doren D Vest, of
Washington Chapter. National
Association of Cost Accountants,
are attending the tenth anniver-
sary of Richmond Chapter which
was originally started by the
District group