Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-05-05
BOND LIST ACTIVE
ON EXCHANGE HERE
Prices Hold Steady-Mer.
chants Bank and Trust
Co. to Expand.
BY EDWARD C. STONE.

Potomac Electric Cons, 5s brought
l00H on one sale. Washington Gas
5s changed hands at par and half,
while Gas 6s came out at 1881.
On the stock side Washington Gas
Light shares led the market, three
sales involving SO shares going at 6S1z
the price level prevailing last week.
Washington Railway and Electric
preferred registered 80, while Mer-
chants Transfer and Storage pre-
ferred opened at 100H and closed
at 100h
National Mortgage and Investment
preferred, which was so active yester.
day, figured in one transaction again
today, 40 shares going at Sh The
market closed with one sale in the
unlisted department of il shares %
Chapin-Sacks per cent preferred
stock at SO. =
Merchant Bank to Expand.
Peter A. Drury president Of tho
Merchants Bank & Trust Co.. an
nounces that need for more space in
which TO handle the banks growing
business has caused the directors to
take over additional room in the
Southern Building, in which the insti-
tuition Is located. at Fifteenth and n
Streets. The bank will occupy the
premises formerly used by the HusIle
Optical Co.
Plans have been started to make
such changes as banking offices re-
Quire and the real estate department
will move into this part of the build :;
ing at an early date. The move will
give the bank 20 feet more frontage
on Fl street, with about 100 feet in
depth
The directors of this bank were
to meet late this afternoon and fill
vacancy on the board caused Nv n
recent death.
Insurance Men to Meet Here.
About 200 leading Southern sales
men of the New York Life Insurance
Co. will hold two-day convention .
in this city. beginning Friday. The
sessions will be at the Mayhower
Hotel
Earl D. krewson. director of the
Washington agency. has been in
charge Of the arrangements. lie ex-
poets that Darwin p. Kingsley. presi
dent Of the company. will be among
those present
Local insurance men connected with
all companies report a splendid de-
mand for insurance and the reports
at this meeting are sure 10 prove
interesting
Essays Given to Judges.
Twenty-one essays written by the .
employees of banks in this city in con-
nection with the annual contest have =
been turned over to the judges for
awards. The judges are George o.
Watson. president of the Liberty Ma
tional Bank; c. II. Pope, vice president
of the Munsey Trust Co. and Maurice
Otterbach, president of the Bank Of
Anacostia.
The number of contestants this year
proves to be exactly the same as LAST
year, when 81 Essays were submitted.
They are on the subject. Suggestions
for improvements in ANY Department
of Bank or Trust Company The
winners will be announced early in
June as those getting the first three
places in the list are to have free trips
to the District bankers convention az
Hot Springs. Va.
r. Jesse CLANCY has called a meet.
ing Of the board of governors OF the
institute for tomorrow evening when
all business incident to the end or
the year will be finished. Forty stu
dents took the final examinations in
standard banking last evening. 1T is
now known that the graduating class
will be the largest in the history of the
local chapter, and the governors are
naturally greatly pleased over the re
suits of the years work.
New Bond Issues Offered.
The f. H. Smith Co. is offering A
new issue of $500, 900 first mortgage
ga per cent coupon gold bonds OF the
Crestshire Apartments. Germantown
Philadelphia, Pa.
s. W. Straus & Co. are Offering an
issue of S425 900 first mortgage ? to
Is wear serials coupon gold bonds se'
cured by the land and f1ve-story Coun'
trv Club Manor apartment house, Los
Angeles.
Dillon, Read & Co. announce thay
the issue of $4,000 900 Agricultural
Mortgage Bank, republic of Colomoia,
guaranteed 20-year Z per cent SINKING
fund gold bonds. issue of 1875. onered
nv them has all been sold and the SUBJ
scription books closed.
Lanston Meeting Tomorrow.
The annual meeting of the Lanston
Monotvpe Co. will take place tomor'
row in Alexandria. when an unusually
good report for the year Is expected
to he presented Karl w. Corby. who
US recently elected to the board OF
directors to f1ll the vacancy caused
nv the death of his father. Charies y
Corbv. will attend the meeting. >:
the hoard. and George W. White, presi-
dent Of the National Metropolitan
BANK is one of the local directors.
The stock of the company recently
has been unusually active on tns
Washington Exchange
Other Financial Notes.
Harry V. Haynes. president Of ths
Farmers & Mechanics National Bans
Robert u.
Mattinsly. will address the members
of the Association of Retail Credit
Men of Washington at dinner at
the Raleigh on May IL.
Hart Schaffner & Marx have de.
cIared the regular quarterly dividend
of ri. so. payable May 90. Thres
months ago an extra of 81 was de-
clared in addition to the regular dis
bursement.
The Baltimore and Ohio reports
that net operating income for tho
first three months or 1876 was At 'ne
rate of approximately a snare on
common stock. Every month since
Nav. a year ago. has resulted in gains
in net operating income, when COM
nared with the same month in the
previous year. -.
Charles M. Schwab. chairman oe
Bethlehem Steel Co.. says "sound ous~
mess conditions are sure TO continues
at least until July 1; in this country
which has one sixth of the worlds
population and most OF its money
there could be but little depression
According to the National Coal AS
ISOLATION the total quantity of bitumi-
nous coal mined during the week
ended MAY | varied but little from
that of the preceding week. Fhe-
estimated production for last week ~
given as 1880 net tons. decrease
of about 10000 tons from the week
ended April "a. -,
The monthly meeting of the board