Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-09-20
PEPCO PREFERRED IS STRONG
IN LIGHT TRADE ON CHANGE
Insurance Building First Mortgage Bonds
Called for Payment October 16 at
1O2 and Accrued Interest.

l
of the Potomac Savings Bank; Lanier
P. McLachlen, head of the McLachlen
Banking Corporation. and Francis T.
! Addison. Jr.. vice president of the
| Security Savings and Commercial
| Bank. who are now aboard the steam
| ship Finland in Southern waters on
| their way to the Los Angeles con-
vention. Several friends are also in
| the party. The steamer was on the
way to Havana and the Panama Canal
| when the hurricane broke off Florida.
Word from the company's New York
office this morning stated that the
ship was north Of the worst part of
the storm and in no serious danger.
Because Of the loss of wireless sta
tons In Florida no message had been
received from the captain early to-.
day and officials expected it might
De good many more hours before
direct word would reach them. The
Finland is one of the largest and
sturdiest in the companys fleet.
Says Nations Can't Pay Debts.
In an address In this city yesterday,
DR.. Stephen S. Wise of New York de-
clared that with the exception of Eng
land, none OF the foreign nations will
be able to pay their war debts to
America or ever will pay them I'm
stead of spending it's time in trying
to collect uncollectable war debts, the
United States ought to be planning
ways and means Of furnishing more
economic and political help to
Europe" he asserted. The noted
clergyman has been in Europe many
times since the war, has talked with
the leaders of all the leading nations
| and insists that reports regarding
I
tourists, are false. "The best inform
| ed bankers and economists know that
| these debts are uncollectable," DR..
| Wise concluded.
Bank Women Dine Tomorrow
More than 100 guests are expected
at the dinner tomorrow evening at
the Women's City Club, given by the
WomenS committee of the local Insti-
tute OF Banking, at which Mrs julius
! freeman of Baltimore and Raymond
y. D1ckey of this city will be the lead
ing speakers. The president of the
chapter. T. Fl. Leith, and the board
or governors will be honor guests.
Inc committee having the dinner
IN charge consists of Miss Catharine
kr1eg, Riggs National Bank. chair
man; Miss Rose Royce, Washington
Loan Trust Co., vice chairman:
MISS Mary Craven, District National
Bank, treasurer: Miss Esther Lau.
fIggs National Bank, secretary, and
Mrs. Judith Fishburn, Commercial
National Bank; Miss Ellen Crawford
american Security & Trust Co.: Miss
Mary Beall, Union Trust Co, and
MISS FRANCES Orrison, Federal-Ameri.
can National Bank.
Road Building Now at Front
The construction of buildings has
Always peen one of the most impor-
tant or construction factors in
TINS country. In the so years prior to
Islo railroads constituted a large bulk
OF the construction work that kent
construction labor busy. Railroad
work since 1910 has been more i'm the
| form OF gradual Improvement of ex-
issuing nnes and the purchase of loco
motives, freight and passenger cars
and other equipment.
Inc new form of construction work
which has succeeded to the former
position Of railroad building is the
building of public highways.
There are today over 100000 miles
OF surfaced roads in the country. as
compared with relatively negligible
nllleage at the beginning of this cen.
fury.
Motor Industry's Future.
The entire motor car industry
seems destined to remain in the lime
nght, and its continued growth is
most amazing" says the America n
Bankers Association Journal. The
outlook for the industry is that sales
the balance of the year will be salts
FACTORY. although naturally we'll below
! the level Of the Spring season. A few
or the companies will undoubtedly es-
tabllsh new high earnings records for
| the year 1926. but it Is significant to
note that not all of them showed gains
of the same proportions. The gains of
some companies have been at the OK
pense Of others. Closely allied with
the motor industry. the heavy Sum
/ mer demand for tires and gasoline
should help reduce the somewhat
large inventories in both lines. Con-
sumption of gasoline can be depend
ed upon to forge ahead 10 to 20 per
cent every year"
Personal and Other Notes.
c. D. Radcliffe, vice president of
the Munsey Trust Co.. has returned
from q three-week vacation passed
in New England.
Howard Moran. president of the
local Bankers Association, left Wash
ington yesterday for the Los Angeles
convention.
Shields & Co. have prepared a new
edition Of their analysis of Peoples
Drug Stores, Inc. which now operate
35 stores in Washington, Virginia,
Maryland, West Virginia and Southern
Pennsylvania.
Judge Crump at Richmond has de-
MED the petition of Arthur Lyman
and other Southern Railway preferred
! stockholders for an injunction pre-
venting the company from paying
more than 5 per cent dividends on
its common stock until claims of the
preferred stockholders for any excess
earnings above that amount have
! been discharged. An appeal will be
taken.
Storage Company Pays Dividend.
e. X. Morris, president of the Fed
eral Storage Co, announces that at
the last monthly meeting Of the board
Of directors, the regular quarterly
dividend of 2 per cent on the COM
pany's preferred stock was declared.
The dividend is payable on October
Is to stockholders of record on Sep
| TENDER 80.
FLOUR BARELY STEADY.