Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-05-02
v. R. f. PREFERRED
SELLSAT NEW HIGH
Advances to 81 IL on Move
ment to Merge Transporter
ton FaciIitieS-Notes.
BY CHAS. p. SHAEFFER.

Preferred stock Of the Washington
Railway and Electric Co. broke its
leash on the local market this morn
ing and the issue established a new
high for the year at 84i2. The secur-
ity was in good demand but sparingIy
offered. Opening at 84A, it advanced
fractionally to 841a, transactions being
restricted by unavailable stock to 60
shares.
Holders of the preferred make no
secret of their expectation to realize
a handsome figure for the security.
With the much-diScussed merger Of
mass transportation facilities here, d
discussion which advanced beyond Z
the scope of a mere rumor last week
when $4,000 was donated to go thor
oughly into every phase of such a
movement, their realizations took on
new hope which has been indicated
in the upward movement of the stock
since that time.
The remainder OF the session was
dull. Riggs National Bank sold off
l3 points from its initial sale, to $40.
Potomac Electric consolidated IS
were off fractionally to SO, as were
Railway As to 79.
Made Bank Examiner.
S. Wilson Earnshaw has been made
an assistant national bank examiner
and assigned to the Atlanta district
Mr.. Earnshaw has been affiliated
with the AnaCostia Bank for the last
five years. He is a graduate of East
ern High School, d holder of both the
elementary and standard certificates
of graduation Of the local chapter
American Institute of Banking, and
graduate of the credits course Of the
chapter, certificate for which has not
yet been issued.
Surplus Cars Increase.
Glass l railroads on April % had
344, 198 surplus freight cars in good
repair and Immediately available for
service. This was an increase of !, 15O
cars over the number reported on
April Is.
Surplus coal cars in good repair or
April % totaled 1886, a decrease Of
4,461 within approximately a week.
while surplus box cars in good repair
totaled 126,031, a gain of 1921 during
the same period.
Production Exceeds Output.
r. G.. Dun & Co. find no other
economic event Of the week has com
pared in Interest and significance with
the return of Great Britain to a gold
basis. This action, which had been
foreshadowed by the recent close ap
marks further progress toward normal
conditions in international commerce.
and its effect on American export
trade should be constructive.
Strictly domestic consumption o.
goods, large though it has been, has
not kept pace with production in nu-
merous industries. and this has forced
readJustments from the high rate of
manufacture reached on the expan-
sion which followed the national cleo
ton last November. Such a phase ap-
pears in iron and steel. copper and
certain textiles, among other commodi-
ties, and for II consecutive weeks de
cllnes have predominated in Dun's list
of wholesale quotations.
Personal Mention
John Poole, president of the Fed
eral-American National Bank, will at
tend the annual convention of the
North Carolina Bankers Association
at Pinehurst May to 9.
W. w. Spaid is visiting his parents
! in Ohio over the week end.
More Business Failures.
Bradstreet's compilation of business
failures Tor the week ended April 80
puts the number at S64, compared
with 3S9 the previous week and asa
In the corresponding week last year
Swift Drops Banned Groceries.
Swift & Co. does not intend to re-
sumo the handling of grocery lines
that were prohibited by the consent
decree" said an announcement by the
company this morning with reference
to the recent decision of Justice Bailey
in the Supreme Court here.