Evening star., 1926-04-23
TRADING MODERATE
f. ON EXCHANGE HERE
w. R. & {. Preferred Is One of
Leaders of Washington
Market Today.
BY EDWARD G. STONE.

crate volume. with Washington Rail
way and Electric preferred and Ma
tlonal Mortgage and Investment pre-
Iefred as the market leaders Thirty
six shares Of Washington Railway and
Electric preferred changed hands a
9OA, off an eighth from yesterdays
price. Three transactions involving a
turnover OF 80 shares took place in
the Mortgage and Investment stock al
SE, this stock also being down an
eighth from yesterday. Potomac Elec-
trlc Power preferred again sold at 107
on three small lot sales. Ten shares
of LanstOn Monotype were out at
S4&.
Bonds were more active than yester-
day. Washington Gas 5s sold at 1904:
500 sale of Washington Gas Gs
brought 102. while two $500 transfers
were recorded at 104. Washington
Railway and Electric As stood at S1"s.
Chapter Elects 2S Delegates.
Washington Chapter. American In
stltute of Banking, in a very exciting
contest. elected % delegates from the
% nominations to the annual conven-
ton at Dallas, Ten. July l3 TO -.
The lucky ones are:
K. Jesse Chaney. Commercial Ma
tional Bank; 7. Hunton Leith. Securi-
ty Savings and Commercial Bank H.
Ii. Darneille, William G.. Winstead
and Miss s. w Burwell. National
Metropolitan bank; William Brady,
District National Bank: John r
| FletChall. Potomac Savings. John
| DE Marco and Elmer O'iara. Seventh
| Street Savings: Garrett NJ. Van IIoI-
sen, Second National; Miss Lois 4
| White. Federal American National w
| T. Van Doren and j. +. y. Goldnet.
| Commercial National: Miss Mabel
| Royce and Miss Rose Royce Washing
| ton Loan aud Trust Co. \ W. Sher-
| man, Frank NJ. Perley and Ross f.
| Pollock. American Security and Trust
| Co.: A. f.. Henze. W. +. lIibbs & Co.
| w. f.. BOlls Washington Mechanics
| Savings: Harold w. Burnside. Farm
| ers and Mechanic National T.. j.
| McQuade. Liberty National: II. F.
| kimball, Harold DennisOn and Miss
Esther Lau, Riggs National; G. F.
| Schatz. First National Bank, Mount
| Rainier. Md: Raymond ID. Lochte.
| District National Bank; Joseph n.
| Yerkes, Federal American. and Miss
| Mildred Woodcock. American Secur-
| ity and Trust.
Officers Also Nominated.
Another very important feature of
| last nights meeting was the nomi-
nation of officers to serve the insti-
| tute during the coming year. Those
| placed in nomination were:
T. Hunton Leith. vice president of
| the Washington chapter. for presi-
dent; Joseph d. Yerkes. first vice
| president, and l. J. Roberts. Riggs
National Bank: y. w. sherman.
American Security and Trust Co.
and q. NJ. Van Hoesen. Second Ma
| tionai Bank, for second vice presi-
dent. Those who will contest for
| the office of secretary are Miss Lois
| A. White. F'ederal-American Nation
al Bank. and William G. Winstead.
| National Metropolitan Bank. \. f.
| Henze. w. 3. Hibbs & co. and Elmer
| O'Hara. Seventh Streat Savings
Bank, were nominated for treasurer,
and Robert II. Lacy. Columbia Ma
tionaI. and ]. L. Townsend. Chevy
| Chase Savings Bank. for the office
of assistant secretary. The office OF
| chief counsel included the names of
II. II. Darneille. National Metro
politan Bank, and w. II. Van Doren
Commercial National Bank, as
aSpirantS.
More Governors Favored.
The recommendation that the board
l
also approved at the meeting and the
following were nominated for this of
flee, to which five will be elected at a
meeting on May IS:
Miss Winifred Burwell. National
| Metropolitan Bank; r. Jesse Chaney
retiring president; John 7. Fletchal,
Potomac Savings Bank: Raymond T..
Lochte, District National Bank: Miss
Mabel Royce. Washington Loan 4
Trust Co.; James A. Soper. Lincoln
| National Bank: Robert G.. Whitton.
First National Bank. Alexandria. Va;
James G. Dulin. jr.. American Security
& Trust Co, and Thomas $. Mallon.
jr.. Woodridge-LangdOn Bank.
Richmond RediscOunts Jump.
Moving counter to the trend of Fed
eral Reserve system as a whole, redis-
counts at the Richmond bank during
the third week in April increased So
796 900 to $4S,506. 900. This compared
with discounts of $43,OSS, 900 at this
time last year.
| Following the normal curve of de-
clining while Spring crops are being
planted in the fifth district. the re-
serve ratio of the Richmond bank
dipped to the lowest level &C the year.
| standing at $3.50. against 60.54 per
cent week ago. At this time last
year the cash ratio was t4.67 per
| cent.
Totai reserves dropped from $751;
BAL .0O0 to $50, 12S 900 in a week.
Railroad Shows Gain.
Baltimore and Ohio's March gross
| is expected to approximate $19.600,-
900. an increase of about SSOO,OOO, or
| better than per cent, over March,
| 1909 nnarafinO income for the
| month will be in the neighborhOod of
SO, 900 900. an increase of roundly
$500, coo. or better than 10 per cent.
| February gross was S17,691 900 in
| crea Sc of $5S2. 900. or 3.3 per cent.
Traffic on the southern Railway i'll
! March continued at record breaking
pace, gross revenues approXlmatlng
S13.436, 900. compared with $12,695,OO0
in March. 1925. an increase of is per
cent Passenger receipts increased
1876 per cent, and for the first quarter
showed a gain of $219,000. or 8 per
cent Owing to slightly heavier main
tenance cost and larger reserve for
taxes it is estimated net operating
income will only slightly exceed the
s3,012,902 for March last year.
Deyber to Address Bankers.
Victor b. Deyber. president of the
Second National Bank. will give an
address on Service Charges on Small
Checking Accounts" before one of the
groups of the Virginia Bankers Asso-
citation at Lynchburg tomorrow. the
meeting to be held at the Country
Club there.
| Earnings of the Mergenthaler Limo
tvne Co for the six months ending
on March 81 are reported as about the
same as last year. p. r. Dodge. pres
ident of the company. has just return
| ed from an inspection of the firms
European agencies. The May meeting
of the directors will be of unusual in
terest. as the dividend on the new
\ o+ool, ,.,iil ho docidnd at that time