Evening star., 1925-11-20
UNION TRUST CO.
FEATURES MARKET
Bank Issue in Good Demand
at 225-Gain of SIS Points
Scored in Year.
BY CHAS. =. SHAEFFER.


Relatively heavy trading in stock Of
the Union Trust co. was the feature
of the Washington Stock Exchange
this morning.
Opening at 222. the issue advanced
steadily to 225 on selling involving ] o.
shares, the days close representing n
advance of 80 points in the last year
The buying is not significant. bur
merely equalizes its market and book
value, and furnishes further evidence
that the local public is becoming NOR.
educated that Il well managed BAN,
stock cannot be improved upon for %
long-term investment. District Ma
tional Bank also pursued an upward
trend, advancing TO 205 on sales Of ~
shares.
The remainder of the market Wa,
quiet. Railway preferred stock, sell
ing eX dividend IA per cent, changed
hands at fractionally under 81. while
the common was held at 22G with nu
sales. Capital Traction eased off !,
1929 on sales of 20 shares. but Potu-
mac Electric Power preferred held
firm at 104ls Gas was unchanged Il.
fractionally above GO
Bonds were neglected
Exchange Listing Sought
Application viii he made TO lIst t!e
stock of the Federal Storage 90. on
the Washington Stock Exchange, II
was announced this morning.
This company is Of local origin. hav
ing been incorporated last January
with Edward X. Morris. president
Robert 3. Hall. vice president and
general manager. and James NJ John
ston, secretary Harold y.
Marsh is vice president and counsel
while Homer l.. Kilt is assisraut
secretary treasurer. This quintet also
comprises the board of directors.
Upon inception of the company if
purchased the Federal Storage AMI
Freight Service. Inc
The company is reported to be do
ing large moving business. Opera'
ing fleet of II vans, and furniture
storage warehouse at 635 New Iorl,
avenue. In addition il is building q
modern fireproof warehouse at 1I01
Florida avenue northwest, which will
be completed the first of the wear
THIS addition will have capacity OF
10000 square feet Of storage space
rugs, furs. silver, paintings and
draperies. a piano room sufficient for
500 instruments, Offices. etc
The company has an authorized
capital of S40O 600. all of which has
been privately sold. The preferreI
stock IS on an annual basis of per
cent. this return having been paid
regularly out of earnings
School Children Thrifty.
The 60 elementary schools Of tho
District of Columbia accounted for 3.
saving Of $50 80 during the 1924
% school year. f.. q. Kimball super
vising principal of the third division
announces. This amount is equivaler-
to S1-5S per child. the total enrolment
of the schools in question being 2S.922
This saving was effected through
the medium of automatic receiving
tellers, which are self-vendinG stamp
machines, placed in the schools in az
effort to teach thrift in money ana
TO develop the habit of systematic say
ing. The plan pursued is for school
authority to permit a local bank
which owns the teller. to place the
machine in a particular school and
TO operate it for the mutual advar-
tage of pupils and bank. During the
period under discussion 10 banks par-
ticipated in the operation of tellers III
the so schools.
Redmond & Co. and associates ex-
pect to offer next week $4,000 shares
OF preferred stock and a like amount
of common of Burdines. Inc. Miami.
Fla, in blocks of one share Of pre-
ferred and one share of common. The
preferred is preferred as to cumula
tive dividends UP to $3.50 a share and
VIII carry warrants emitting the
holder of each share to purchase be
tween April ], 1926, and December /
1927. one additional share of common
stock at $50 share
The Burdine Store. located in the
heart of the retail district of Miami.
does larger volume of business than
any department store south of Wash
ington and east of New Orleans. Starr
ed in s9S with an initial capital or
about $500. the business has been
developed entirely through the rein
vestment of profits, and it is est
mated that the total turnover fer
the current fiscal year will exceed
$4,000, 900. The growth of the bus
ness has made necessary 4 six story
building and will make availabla this
month approximately 100000 square
feet of selling floor space. or an in
crease of more than 80 per cent. The
company's investment in the build
ing and real estate is carried at a book
value of S902,345. whereas the equity
has been independently appraised d
more than So 900.