Evening star., 1926-03-19
TRADING |SL|VELY {
ON EXCHANGE HERE
Capital Traction Loses Point.r
Dealings Cover Wide
Range of Issues.
BY EDWARD c. STONE.


the utilities commission which reveal.
ed a heavy loss In revenue passenger
during the past year. The stock has
been selling at Ill for several days,
but the opening transaction today W. 81 ,
at 11012. Two 10-share lots then sold
at 110!4, and the closing sale Of To-
shares was registered at 10 fiat.
Potomac Electric Power preferrece
came out at 107h on two sales. this
price being unchanged form the recent
ngures for this stock. Washington
Gas Light was unusually active. 80
shares changing hands on five differ
ent sales at 1875. One other transao
tlon was recorded at 7212. r-
l.anston MonOtype opened AT S3L.
d hd advanced on two later deals 10 81
Merchants Transfer and Storage com
mon recorded 1l5 on three sales Of 10
snare lots. while Is shares of the same
companys preferred stock changed
hands at 1917. One hundred share
OF National and Investment preferrer
sold at Sl2. it being the first transact.
'ion IN this stock for some time.
washington Railway and Electric
peierred changed hands on the firsr
sdie al 50a4. the second sale at 901
Whiie the stock brought 903. again.
al the close. Not a bond changed
nands during the session.
Listed on Local Exchange.
Another stock was listed in Tho
Washington Stock Exchange toda =.
when Peoples Drug Stores Inc. pre-
telr stock was given place among
the securities traded in on the local,
board
The Peoples Drug Stores Corpora.
tion plans TO issue 1000 900 shares ~
this stock. but only 900 900 hav.
been issued to date.
Inc stock was given the usual IN
Vestigation by the governing board oI-
the local exchange before il was voted
10 admit ii to the list
Quarterly Dividend Declared.
At meeting of the board of di,.
rectors of the Farmers and Me
chanlcs National Bank in George
town yesterday, the usual quarterly
dividend of So per share was de
ciared The dividend is payable on
ApIn | to stockholders of record Al
the close of business on March "a.
III VIII be recalled that this bank.
celebrated its 112th anniversary ON
February IA. having been organized
on February IA. 1914. This makes
1t one of the oldest banks i'm the
United States. The present officers
are Harry '. Haynes. president: Rob
ert ID. Weaver. vice president: G.. L.
Nicholson. vice president; H. l.
shelby. cashier: Harold W. Burnside
assistant cashier: Henry w. Sohon.
counsel and trust officer. and Ira "
Hopkins, auditor.
Important Bankers Meetings.
yr-i+H 90
| ing of the District Bankers Associa-
ton Wednesday Afternoon at 4 o'cloct'
W. w. Spaid has called meotin. nr'
the general convention committee ~
lne ASSOCIATION. This meeting WY
follow the special meeting Of the as.
sociation and further plans for the
annual meeting in June will l,c fn,s-
mulated.
| Chairmen of the important conyen--
| ton committees have already been an
| nounced. but their assistants are ,er.
to be named.
| Francis G.. Addison announces thar
| there are a number of important mat
| ters TO be taken up at the association
meeting.
Banker Returns From South
| Chairman w. T. Gallagher of the
board of directors of the Federal.
American National Bank has returned
from a Today visit to Florida. He at. j.,
| tended meeting of the board YES.
| terday afternoon.
Inc pank officials have completed
plans for moving into the new head.
quarters in time for the opening q.
business on Monday. II is stated
!hat the bank will retain the present
neadquarters OH F street as the home
lor the new securities corporation
"incIi the banks officials are now
launching. This is to be a s1o ooo =
900 concern and will carry on 60
eral investment. realty and secnri,ia.
business. re-
Heard i'm Financial District
FREDERICK p. III. Siddons of rho
American Security and Trust % u.;II,
address the Washington Society -,
credit Men at the forum to he held
MONDAY evening. He will discuss the
relation between banks and credit
managers and show where greater co..
operation might be a decided benefit tn
both. The banks take much in,erest.
IN TINS association. and many of the
best known bankers in the citv have,
addressed these forums.
FRANCIS G Addison, jr.. will give the
third talk over the radio on banking
problems this evening between SIS
and $50. 1t will be noted that tho
time is earlier in the evening thar
last weeks talk was broadcast. Mr..
Addfson's subject will be What We.
Use for Money" This series of seven
addresses is in charge of the educa:
tional committee Of the American
Bankers Association. /. .
Record Stock Offering. =.
The largest financing operation of.
the year for anything but Govern ~
ment account is in prospect for next
week when, barring a later change in
plans, the newly consolidated Tide
, , water Associated Oil Co. will make
| an offering of a large block OF it's
preferred stock. This offering wilt
be made through Blair & Co. Inc.
and the Chase Securities Corpora 80
ton who, with associates, have 'un
derwritten the formation of the new
$240, ,000, 900 Tidewater Associated OF!
Co.
Railroad Expenditures.
Glass / railroads during the year.
1925, according to report of the
Bureau of Railway Economics madec
today, expended $754.00O,00O in the,
form of capital expenditures for neWr
equipment. improvements to facili =.
| ties and extensions. .
OF this amount about 40 per cent. o''
| 1899 ,00O, 900, went into new equipment, =
! in 1925, while the remaining SO per-
cent, or $414,600 900, was expended for
additions and betterments to ROADWAY
and structures. The As per cent eN:
pended for equipment in 1925 con- :
pared with Sc per cent in 1924 and et-
per cent in 1928. 80
Contraction i'm RediscOunt. =
Further contraction in volume of re
discounts was noted in the weekly.
statement Of the Federal Reserve sys
tenn as whole, showing the condition
oP tho ha nkS on March II -