Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-01-04
STORAGE COMPANY:
STOCK TO Be SOLD
Merchants Transfers New
Issue Holds Spotlight in
Weeks Schedule.
Bl CHAS. J. NHNEfIE,H

Bh CHaS. J.. SHtEFFE;n.
! An offering IF 81 600 600 ~. lGe.rc.
/ 3oouts OF Der cent preferred oct
OF the Merchants Tra nsfer mi :in..
ase 90. Is the most intere@tin.- tram.
action scheduled Cor tlo in..,f fr..,
cial field this week. crane p,,,i.
Co. will offer the isrra later in ~.
week
ON the heels Of = took divj,;p.I.
declaration Of rs 3 Ier cont - ,e.,-
days ago, the COMPANY, :rnlorD.r,;
NAV II would sell At par. 81 0un .n"r.
o' me preferred issue, proceeds g.
when VIII he used in expanding iha
, mlal%e department of the c"mpan,
| winch IS enjoying a SatiSfarlo!...
| growth This function of ihe com
! pahN was Installed in March 1925.
ana mas operated on d GROSS volume
OF sl2,323, $40 since that time
Adrance subscriptions for the pre-.
lefred indicate receptive nIarIlet.
ana there is little prrba bIlity thai
difficulty will lie encountered in it,
notation. This proGnostication is ba sod
on the excellent directing personnel.
us earning power and the security
! back of The loan.
The new certificates to be allotted
under the stock dividend will be avail
able shortly, it was said AZ the com
| pany office this morning. Under the
| iatlo of one new share for three Of
the old there will necessar ily he a pleth-.
orr Of fractional shares. These will
nc taken care Of in the dividend dis
trlbutlon by the issuance Of scrip
winch should he either disposed of nT
| increased to an amount sufficient :"
make an even share. when definite
certificate will be issued This scrip
VIII have market on the Washing
ton stock Exchange.
| The Merchants Transfer and Stor-
age was esta blished in 1901. and has
paid dividends continuously since
I 1909. Its present annual rate is ~
! per cent. Also u total of l4lo-3 per-
cent has been distributed in stock
namely 30 per cent in 1907. 80 1-3 pc
cent IN 1872, - per cent in 1920 ANA
8" l-3 per cent in 1920. The COMPANY
mas an authorized capitalization Of
sl",Ooo,a0o. but to date has only 81
cocoon in common outstanding
Helps Build Homes Here.
The Metropolitan Life InSura nee,
60. OF New York advanced = total OF
Sl,o73.2o0 for home building in The
District of Columbia for the wear 1921
up To the close Of business. Decemher
Il. This. sum win I've 1ouYider-4 bly, in
creased for the entire l. months
period aS several loans in progress ON
the above da1e have since been closet
A.t"tal If - homes benefited in Tho
Distribution. -.
! Local Securities strong
Prices again turned sharrIv ur,,,.r.
on N" l"r,tl board tl'i- Noruin-. --ftn
! capitol ira' lion InH rnt,uf,.s Era..
t'1r b"W"r preferred lnJdin= tho d.,
vance. Tho i"imc~ s"li - The extent
ri nifty $hair"s I'u ~ IrI1.. while m.
l;'tter cstah,.shcd y peak or 1861. on
sales Of ," shares. In The meant I'M.
interim certificates "f rho no,,e. con.
pany brought 1871.
Ten shares of Merchants rrsn-r.s.
and Stora-" 60. sold ~ ~. u firm
l"vel. fofl"Win" the declaration of its
81 per cent stock dividend Gas w.
! ITactionally higher THIN - and 10
shares of National Savings md T7p.i
20 brought $50
Bonds were !istless
Drug Sinrc Sales IN. e..
/ Peoples Drug stores. Inc rep,r,s
sales for ths yesr IT, ~ sara -.
COMPARED with SfSa2GlS for 1922; -
an Increase of 7.SG per cent ,yifbot;-
any increase in the number of stores
| operated. Malcolm G. Gibbs. preside,l-
OF the cnmpan ny, in commenting on iha
situation, said.
The past year his been a very
prosperous one. for the company and
the ensuing year looks even hrichter.
Plans for expansion. long contem-
plated. will BE- put into effect com
fencing early in the wear Several new
locations in Washington have been,
| secured and one new store will he
| opened about the middle of tho month
ana one "'har in this following month
Altogether II is expected that seven
rev stores viii he opened in the Dis
trlet Of Columbia during the war
! future expansion viii he made in he
| southeastern States during tho vc.,r
ny opening of new stores OF acquiring
existing chains. Plans for this pIrroso
are already being made. l. is expected
10 dc ,p this territory intensive1y. 7
am ncly of the oninion that tho
SCOUT fers the greatest opporturity
OIL ar section of the country roday
ana u. ett!ng csta hlished in the ferrf-
tory 4 lis time, when the section is
Iust get le into its stride. I feel we
VIII he Il a very advantage posi-
ton.
I'm anticipation of expapsion We
have strengthened our organization
ny securing W. j. Smith as vice rreSi
hent Mr.. Smith prior to joining our'
orsaniza ton was general manager 81
the Reid chain of drug stores in Bal
umore ana was largely responsible
for the success and building up of that
company"
The year 1925 was generally the
most satisfactory the business UorId
mas known, SAYS the Farmers and
Mechanics National Bank IN its
monthly survey of business. The
volume of business was found to ha
unprecedented. and profits. while NOT
large, were adequate and satisfvinr
ana operations were free of the. w0r
movements. r
Classes Reopen Tonight,
The weekly spea king classes fvei,,.-
conducted by the local chapter. Amer.
lean Institute of Banking. will he
resumed at o'clock Wednesday ni-hr
in the boardroom Of the FederaI.
American National Bank.
FOREIGN EXCHANGE