Evening star., 1926-08-27
BONDS ARE ACTIVE
ON EXCHANGE HERE
Prices Hold Firm All Along
the LiSt-Base Ball Club
Stock Bid Higher.
Bonds were active on the Washing

Bonds were active on the Washing.
ton Stock Exchange today, as prices
held firm all along the list. J.. G. F.
per IS sold in the amount of $1,000 at
Sc. Two blocks of $4,000 each Of
Washington Gas IS went at 10I.
Chesapeake and Potomac Telephcne
5s turned over $4,000 at 100Ss and
Georgetown Gas 5s sold at a914.
Capital Traction. at 1041.. Washing
ton Railway preferred at 30. provided
the sold stock transactions. u shares
of the latter changing hands.
In the unlisted department, whiIe
there We're no sales, bidding on Wash
ington Base Ball Club stock rose from
the last bid at so to 65. while so was
asked. Army and Navy Club IS were
bid at IS, as compared to the last
prior bid of SO. while bid prices on
City Club rs were IS, as compared
to prior 20, and Metropolitan Club
4 l2s rose from SO to So bid.
Opens Office Here.
The Century Trust Co., Of Balti-
more has opened u Washington office
for its investment department in the
Otis Building, under the direction Of
Robert Grain jr., who has been con
nected with the Washington office q:
the Baltimore Sun, the Munsey TruSi
Co, and the Pennsylvania Railroad.
The Century Trust Co. with capita
and surplus of more than S1,S50.000,
was organized and opened its doors in
December, 1923. primarily to take care
of fiduciary and trust business and
for an investment department in con
nection with the National Bank of
Baltimore. At the time of the organI-
Zation of the Century Trust Co L.
Rowland Thomas was president of the
National Bank of Baltimore. AMI
Douglas Thomas, his brother was
made president of the Century Trust
Co. Henry e. Thomas jr. il first vice
president and manager of <he inveSt
ment department.
Arranging Series of Meetings.
The forum committee of Washing
ton Chapter, American Institute OF
Banking, is arranging d series of
meetings at which prominent men will
speak on a series of topics vital To
banking. according to II. Huntou
Leith. president of the chapter. Har-
old w. Burnside, assistant cashier ot
the Farmers and Mechanics National
Bank. has been named chairman of
the committee in charge. Others are
+. II. Cox assistant cashier. CONNER
cial National Bank: |. j. Roberts, sec.
retary to the president, Riggs Ma
tiOnal Bank. and Oscar a. ThOrup
manager of the bank service depart
ment library bureau.
The Pennsylvania Railroad is on"
of the few large carriers to report
smaller net operating income for July
than the same month last year.
$9,S59, 1886. against $10.362,572. The
seven months total was S54,427.542.
against $4S.3S5 .450 in the same period
of 1925.
MOOdy's Review Optimistic.
Moody's Weekly Review of Fiuan
cial Conditions. in it's current issue
says. in part:
"Stock market seems to reflect lih
eral realizing sales during sharp raj
lies, on the one hand. but. on the
other hand, no disposition to force any
liquidation. Possibly this sort Of q
market may continue Cor some weeks
or months.
"The petroleum industry displays
such strong statistical position as T."
lead many to believe that both oil
shares and gasoline prices ought to
move sharply upward. Meanwhile
gasoline is declining. and the share>
are doing nothing. 1t looks as though
the petroleum share market might re
main a purely selective affair for some
time"
Production Larger.
Although production in the basic
industries showed the usual seasonal
decline in July. it was | per cent
above July a year ago. the Federal
Reserve Board reported in Il review
of business conditions.
Wholesale prices dropped to the
lowest level since September. 1924. -
decline being noted particularly in
foreign products and foods. while
prices of steel and other metals adj
vanced.
Declines in the production of iron.
steel and anthracite and in the activity
of the textile mills We're declared to
he more than the usual seasonal re-
ductions. but the output of flour.
copper. zinc. cement and petroleum
increased.
The manufacture of automobiles
dropped further and was smaller than
a year ago. Building contracts also
were smaller in volume than last
wear. Factory employment and pay
rolls showed the usual seasonal de
cline.
The total volume of reserve bank
credit increased by about $50 600. 600
during July and the first part of