Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-09-03
STOCKS ARE FIRM
ON LOCAL BOARD
Fifth District Rediscounts
InCreaSe-BankerS to Plan
Campaign-Notes.
BY EDWARD c. STONE.


BY EDWARD c. STONE.
Washington Railway and Electric
preferred stock made a fractional gait
in the local market today when. aftei
opening at 90. il advanced to 9OH
on two later sales Capital Tractioi
lost the quarter point il made yester
day and sold at los in one small trans
action. Potomac Electric Power pre-
ferred recorded one sale at 1915.
gain of quarter point over the last
turnover. The only other stock said
was 20 shares of National MortgagI
and Investment preferred, which
changed hands at s.
On the bond side two issues an
peared on the board. Capital Traction
5s coming out at 1908 and Washing
ton Gas 6s selling at 102 for tive
small lots. 1t is interesting to note
in the unlisted department thai
Washington Base Ball stock. which
for weeks has been reported as last
bid 60 and last asked so, has seer
an advance in the asked price to 90,
1t was officially announced that the
exchange will be closed on Monday
Labor Day.
Bills rediscounted by the Richmond
Federal Reserve Bank amounted II
SAT $4,000 during the week ended Sep
tember /, an increase of moro that
S2.OOO.000 from the previous week
when the figure reported was S45.346.
900. Paper bought in the open mar
ket fell off slightly, the figures for the
two weekly periods being S12.557,00t
and S12.70S, 900. respectively.
An increase of approximately / pet
cent is shown in the ratio OF total ~
serves to deposit and Federal reserve
note liabilities combined. Last wees
the ratio was so. and this week it Il
1897 per cent.
Another substa ntial increase in thu
number Of bills discounted is show1
in the statement covering the IL Fed
eral Reserve banks. From $50 .638 900
last week this item jumped to $685.
34S,0eO this week, while figures show1
a. week ago was itself $26.094 ,0Ot
above that shown one week earlier.
Exchange Meeting Called.
Secretary G. ]. Gockeler of the
Washington Stock Exchange Is send
| ing out notices calling a special meet
ing of the Exchange for Wednesday,
September Is. at which time a new
president will be elected to succeed the
late John l.. Edwards.
The notices also call for the electior
of another official in addition to {
president in the event that this Off
cial should be chosen from among the
| members who already hold office.
At the time of Mr.. Edwards death
it was voted to delay the election oil
his successor until the middle of Sep
TENDER, as so many of the memberl
| were out of the city on vacations.
Bankers to Plan Campaign.
Howard Moran. president of the Dis
trict Bankers Association, has ar
ranged a get-together dinner to TAXI
place next Thursday at the Universit1
Club to which the members of the
council of administration and all com
mittee chairmen have been invited
The aim of the meeting is to OUTLINE
plans for the years work. The mem
| bers of the council are:
Howard Moran, president OF the
| association; w. w. Spaid and Robert
V. Fleming. vice presidents: w. J.
Waller. secretary: Albert j. Galley,
| treasurer, and Harry v. Haynes
| president Farmers and Mechanics
National Bank: c. II. Pope. vice presi,
dent Munsey Trust Co.; Lanier p. Nc,
Lachlen. president McLachlen BANKING
I II.
Bank of Commerce and Savings: Z. J,
McQuade, vice president Liberty Ma.
| ttonal Bank. and Joshua Evans, 1r,
executive vice president District Ma.
| tional Bank.
The committee chaiIlnen invited I'm.
clude Robert V. Fleming. taxation and
Treasury relations: Victor Il. Deyber
| commercial activities: Frederick p. III.
| Siddons. publicity: Eliot H. Thomson
advertising; f. J. McQuade, stand.
| ardized banking forms: Eugene f.
Thompson, fraudulent securities: John
NJ. Riordon. auditing: Francis G.. AID.
| Olson, jr.. law and legislation; Harry V.
| Haynes, protective: l.. y. McLachlen,
| banking insurance, and John Poole,
| improbable accounts.
Bank Arranges Flower Show.
| The Federal-American Banks an
| nual flower show and prize contest
will take place on Tuesday and Wed.
| nesday of next week. The entriet
will be taken to the bank between !
| and o'clock on Tuesday. and the
show will be open to the public at s.
1t will be continued through the day
and evening on Wednesday and may
be kept open Thursday. Last yeai
Their were 500 entries. averaging con.
| more JIldIl HNe blooms edCnt
which gives an idea of the size of the
exhibit. Many of the flowers for this
years entries have been grown from
4 seed furnished by the bank. hut the
| exhibits are not to be confined ia
| these blooms. George w. Hess. dI.
rector of the United States Botanic
| Gardens, and David Lumsden. Depart.
ment of Agriculture horticulturist,
| will act as judges and award the
| prizes.
| Other Financial Notes.
General Railway Signal. which 70.
Gently purchased selling rights from
| the Miller Train Control Co. has de.
| clared the regular quarterly dividend
of $3.50 on preferred and 81 on com.
mon and Il o5-cent extra on common.
A handbook for investors. showing
| how good investments grow. has been
| published by the American Bond and
Mortgage Co. Contained in the book
| are charts and tables showing tho
pyramiding OF earnings at various
| rates of interest.
For the week ending August % the
Pennsylvania reports handling 117,169
cars of revenue. against 11l.4+2 for
| the previous week and 1912 for the
same period in 1925.
| CorcOran Thorn. vice president Of
| the American Security & Trust Co,
departed yesterday for New Hamp.
| shire, where he will remain through
| September.