Evening star., 1926-02-15
CHAP|N-SACKS CO.
TO HOLD MEETING
Annual Gathering of Stock
holders Tomorrow at Rich
mond to Approve Contract.
BY CHAS. p. SHAEFFER

The regular annual meeting Of
stockholders of the Chaplin Sacks Cor
poration will be held at the law
ornces OF William & Mullen, Ameri-
can National Bank Building in Rich
mona, tomorrow morning at 10
O'Clock to receive the reports of off
GERS, fix the number of directors To
constitute the board for the ensuing
year and elect same, and to transact
such other business as NAV be
brought before the meeting.
The directors Of the company. at a
meeting held December 80, last. au-
tnorlzed, subject to the approval or
the Stockholders, the execution of :.
contract Of management with South
erh Dalrles, Inc, whereby the South
ern Darles, Inc, 8 manager, will fur
nlsh, during the ensuing year and IN
tii the contract shall be discontinued.
the management and executive organ
iZdtlon Tor Chapin-Sacks Corporation.
and the stockholders at their annual
meeting will be called on to take ac.
ton thereon.
II Is understood that no obstacle
leadlng to approval of this contract is
anticipated by officers of the company.
Trading on Local Board.
STOCK or the Capital Traction Go.
continued to display a strong tone
on the Washington Stock Excban nee
TINS morning, with 81 shares chang
Ing hands at 107. 1t was held al
l0112 at the close, continuing the
rumors that important interests
ldehtihed with merger proceedings
are participating in the security's
market
The ardor attending bank share
transactions last week was absent
this morning, F'ederal-American Ma
tional being the only active issue
which parted with points from the
last sale 10 39S. Ten shares were
disposed of.
Railway preferred stock was weaker.
seiling In light volume at 90%. Like
wise, Merchants Transfer and Storage
Co. brought 122, and 200 shares OF
National Mortgage and Investment
preferred brought 81. Gas Light
stock was quiet at 7314 and $500
Gas IS sold for 1925 up to 103@.
hlte Motor Co. admits an error in
previously announced dates, and ad-
vises the stockholders meeting will
be held on March 10, 1926. When the
proposed increase in capital stock 10
S5O.000.000 is authorized by the stock
holders the stock dividend and rights
to subscribe to the new stock will go
TO stockholders of record March %.
1926.
1.04o Stocks OH Exchange.
The Nation sasped when, in 1917. the
first Liberty loan, amounting to 81 .000.-
900, 900 was announced. But so grea I
has been our financial growth since
then, so vast have our resources be
come, that we no longer think such a
sum huge. Thus when the New York
Stock Exchange recently announced
that the loans of members at the
banks amounted to S3,513, 3,17415 the
sum amazed no one.
The fundamental function of the
Stock Exchange is to furnish a place
where sound business needing capital
can quickly and easily secure it for
legitimate needs.
Modern business has found the
corporate form the most feasible for
It's huge transa ctions. and since 1919
there has been marked increase in
| the number of corporations With
| the constant need for more capita |
due TO expanding business. more and
| more of these organizations come to
| the market place, which is the New
York Stock Exchange, for funds, so
/ that on January l, 1926. we find the
stocks Of 1,045 companies listed. ac-
cord1ng to report of Sulzbacher.
| Granger & Co., members of the ex-
change. against only 612 on January
| l, 1919.
Situation i'm Bonds.
| Similarly, bonds listed on January
| l, 1926, were 1865, against 1,13I OIL
January /. 1919. AS business increa ases
more corporations will be listed, more
| capital required
! Excluding the value of the United
| States Government bonds OUTSTANDING,
| on January l last, their value not hav-
| ing been reported. the market value
of the listed securities was $4,000.
| 100000, sum equal to more than
three times the entire debt of the
! United States at the end of the World
! War.
Against this vast amount of SO O00
100000 the firms which are members
OF the Stock Exchange had borrowed
| SS,513,l74.lo4 or less than 6 per cent
If we include the Government seclIrI
ties the percentage becomes still
| smaller.
| The United Supreme Court has hejo
that per cent is Il fair return on al
investment and in normal times sucl
is the case. BY and large the avera &c
yield on the securities listed on the
Exchange is about per cent. The
amount of the brokers' loans does nof
ever represent years income on the
1 .S-fA. H.. y.zA