Evening star., 1926-10-14

writer's mere tOnlSm.
undertaken home office work, SO is
no longer elegible to serve as Dresi-
dent, so that Mr.. Choate, as vice presi
dent, succeeds to his office and p. l..
Rogers has been chosen to take Mr..
Ellsworth's place on the board of di-
rectorS.
Other officers are George +. Farqu-
har, first vice president: A. l.. Bald
win, second vice president, and Rus
sell =. Freeman. secretary-treasurer
The directors are Z. l.. Rogers +. r.
Strunk, j. +. Cremen, l.. G.. Adams
| and A. w. Defenderfer.
Local Securities Firm Today.
Prices were firm on the local Stock
Exchange today with trading moder-
ate. The market opened with the only
! bond ira action of the session, when
Capital Traction 5s sold at 10012. This
was followed by two sales in Capital
Traction stock at 104. Potomac Elec-
trio Power preferred came out at
1878, while Railway and Electric pre-
ferred sold at 90 on five transfers, rep
resenting 46 shares. Ter, shares OF
Riggs National sold at 440, Merchants
Transfer and Storage preferred
changed hands at par and five shares
of Mergenthaler appeared on the
board at 1862. The market closed
with 50-share sale of National Mort
gage and Investment preferred at SiI
Preliminary reports to the Federal
Reserve System from retail stores in
all sections of the United States indi-
cate a sales volume of 523 department
and other retail stores sc per cent
larger than in September Il year ago.
Sales of mail-order houses increased
per cent and and 10 cent stores
10 per cent. Sales of so department
and general stores i'll the fifth dis
trfct were 81 per cent ahead of Sep
tember last year. Stores in Hunting
ton, w. Va, reported the only aver
! age decline In this reserve district for
September, although individual stores
showed decreases in all reporting
cities except Richmond.
Southern Railway stockholders are
to meet in Richmond on November
l8 to vote on the issue of 100000 900
additional stock. President Fairfax
Harrison states that the roads finan-
clal condition warrants securing a
portion of it's new capital by the
sale of stock. and adds:
THE plan is to offer this stock to
the stockholders for subscription from
time to time as new capital shall be
| required. Only SO 900 900 of it need
| be sold now to supplement other re-
| sources available for the 1927 i'm
prOVement budget, and it is proposed
! to offer to the preferred and COM
mon stockholders the present privi-
| leSe OF subscribing to 100, 900 shares
OF new common stock at it's par value
! of $l00 per share at the rate of
new snare for each IS shares held.
rms will offer to the stockholders
| Immediately valuable subscription
! rights, and the authorization of the
! remaining $20,000,000 of new stock
! VIII lay the foundation for other such
rights during the coming years"
Bank Ready for Opening.
! Invitations were being received TO.
Gay 10 the opening of the Chevy Chase
! savings Banks new home, which will
| pe thrown open to the public tomorrow
! night from I to 10 o'clock. The bank.
i which is located at the corner of
| connecticut avenue and Morrison
! street, Is ready, and throng of yisi-
tors is anticipated. President Fred
| erlck r. harrington. the other officers
anu many or the directors will be on
nano 10 welcome the guests and point
out the banks special attrac
! Frank p. Morse, local manager of
/ j: ana W. Seligman & Co. has return
! cd TO Washington from attending the
| investment Bankers convention at
! quebec. He reports very successful
and interesting session. Others at.
! tending from here We're Eugene n
| thompson of Crane. Paris & Co. and
| Faul V. keyser, association counsel.
Joshua Evans. tr., executive vice
| president of the District National
Bank, will be home the last of the
| week from the Los Angeles conven,
! ton.
William c. Johnson, assistant to the
| president of the Federal American Ma.
tional Bank. has returned, from a
three-week vacation passed in Virginia
The Riggs Bank base ball team
which won double honors on the dia
mond during the Summer, will have q
! jollif1cation banquet at the CITY CIuf
tonight at o'clock.
The editorial staff of Dollars and
sense announces that the next number
VIII be out about the middle of Novem
Der. shortly before the Institutes An
nual theater party.