The Washington herald., 1921-05-01
WIGCLYCO.
TURNS0VER STOCK
TO CHASER & co.
Investment Bankers Get
Both Preferred and :
Common Issues.
CALL $50 OF FUNDS
Portion of March Is Sale Or
dered; Convention Notes.
Damascus Bank Opens.

At a banquet held by ofncials Of
the PiggIy wiggiy Corporation At
the Franklin Square Hotel on FRI
day evening. IL was decided 20 turn
over the preferred and common
stock issue of the corporation 20
Charles Z. CHASER & Co, invest
ment bankers OF New York City,
with a local branch once situated
in the Bond Building. This broker
age firm was also selected to handle
the issuance of stock arising from
an Immediate expansion program,
laid out for the establishment OF
many other Piggly wiggly stores.
The tremendous success OF the
Piggy wiggly Corporation has been
demonstrated by the rapidly increzs-.
ing sales since inception of the lrm
In September. 1916. when organ
lied, they started with one store.
which had grown 20 the number of
$50 stores up to the month Of March
Of the present year.
mellon Calls an Fusa..
Secretary Of the Treasury Mellon
again called on national banks yes
terday TO pay into their regional
banks by Tuesday next IS per cent
OF the funds remaining on deposit
arising from the March IL sale Of
Treasury certificates.
This call will take approximately
,33. 100000 away from nationaI
banks, leaving in the neiEhborhood
Of sioo.o0e000 still credited TO the
Treasury.
A. n. A. CopyeptIon-
Members Of the executive council
Of the American Bankers Associa-
tion are already gathering for the.
spring meeting OF the council, to
be held in the Hotel Carolina at
Pinehurst. n. c. May ? 10 Z. in.
elusive.
George o. watson. president of the
Liberty National Bank, and Harry
H Mckee. president OF the National
Capital, are local members who
will attend the conference.
Dsmaseas Bank ope.s
The Bank OF Damascus formally
opened for business yesterday morn
ing. W. r. DeIashmutt. cashier Of
the United States Savings Bank. is
president Of the new institution. and
carried with him approximately
soSfVVV IN local Oepotltt-
Csn Money MARKET.
Arrangements Or the call mon9
market on the Washington Sto6S
Exchange have been completed, and
Initial transactions will be cele--
brated when trading is begun to-
morrow.
Local Securities
Comparative large lot sales Of
Washington Railway & Electric
common stock supplied the only oe-
currence out OF the ordinary on the
Washington Stock Exchange yes
terday. Two sales Of 100 shares
each were recorded at so
Continental Trust Company stock
showed further recessions. ten
shares Of this issue changing hands
at los and 1O4. Capital Traction
stock brought S7E for a single
share
A City and Suburban per cent
bond Of $1,000 denomination sold
at IS. while a like issue Of the Net
ropolitRn Railroad was recorded
at 30.
Market Opinion.
In discussing market tendencies.
Henry Clews says, in his weekly re-
view:
The truth is. OF course. that the
market has given evidence for
considerable time past that the bad
features have been fairly well dis
counted. and as most people are now
convinced that the outlook ahead
for trade Improvement is promising.
IL is beginning TO discount the good
things 20 come. II is based on this
tdea that holders NJ sfocks Sbovv so