Evening star., 1926-05-10
TRADING IS ACTIVE
|. ON EXCHANGE HERE
Washington Gas Light Is
Heavily Traded In at
Today'S Session.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Stock of the Washington Gas Ligh,
Co. was the most active issue on
the local Stock Exchange when the
weeks trading opened today. the sales
recording advancing prices. The mar
ket opened with turnover of 80
shares in three transactions AT 6SI,.
Two more sales were made at G85s.
Two bank stocks were out today, 10
shares of stock of the Second National
Bank going at 270 and shares Of the
continental Trust co. changing hands
at par. Both type issues appeared
on the board, two sales in l.auston in
volving Is shares, bringing soil. and
two turnovers in Mercanthaler record
ing 10S, gain of points over the
last sale last week. Five shares Of
Real Estate Title Insurance 60.
brought 175.
The first boLd sales were in Poto-
mac Electric Consolidated 5s at 1901,
Capital Traction IS sold at par. Poto-
mac Electric Power IS came out Ur
one sale at 1868 and the marktt
closed with u transfer Of Washington
Gas IS at 1909
New Bond Offering Announced
The Washington offices Of the Amen
lean Bond and Mortgage Co. located
in the Transportation Building, Scl-
enteenth and II SHEETS, announced To-.
day the Offering of S3S1,50 612 Pc
cent first mortgage seria! gold bonds
secured by the Ebbitt Hotel. south
west corner Of Tenth and H street
The bonds are dated April IS amt
Will be matured in from ! to - year
periods. Interest is payable Octoh.r
10 and April - and the bonds arn
in denominations of 81 600. $500 and
500, the last being in and l. year
maturities only. The Offering is guar
anteed as 10 payment of principal
and interest by Howard NJ Etchisou
president of the Mount Vernon Realty
Corporation. which owns the proper,'.
Branch Office Opened Here.
Mackubin. Goodrich & Co. of Ralri-
more have opened a branch office i'm
Washington for the conducting Of
general investment business. the new
office being in charge of Charles -
Shaeffer. formerly financial editor ot
The Star and for some time with the
Washington Herald. Mr.. Shacner
will have an office temporarily with
the firms New York correspondent
F. B. Keech q Co, at 1910 II street
The company which Mr.. Shaeffer raN-
resents here has membership in the
New York and Baltimore EXCHANGE
and has been doing an investmer-
this branch adds one more well known
house to Washington's steadily grow
ing financial district.
New Shipping Board Agent
Thomas H. Rossbottom. genera
manager of the United States Lines
has announced the appointment OF g.
+. Hanson as general field agent for
the company, his territory GOVERNS
Virginia, and parts Of Maryland ana
West Virginia. His Office will he ir
Washington.
Mr.. Hanson first became associated
with the United States Mail STEAMSHIP
Co. and served with that organization
as head Of the third class and irnmigra-
tlon departments, and subsequently
served in the same capacity with the
United States Lines During the last
year he has been in the executive
offices of the company in New Nor
Railroad Bonds Purchased.
The Guaranty Co. of New Yol..
has purchased from Norfolk ami
Western Co. $4,000. 600 of its Div
sional First Lien and General Mort
gage 4cc bonds dated July |. 1904. ard
due July /. 1914. This additional issue
completes the S35 100000 bonds author
lied under this mortgage. The Mo-
folk and Western Railway Co. one.
ates about 200 miles of road ii+
main lines extending from the bitur
nous coal fields of Virginia. West vi.
ginia and Kentucky. westward To Gin.
c1nnati and Columbus. Ohio. and ca---
ward to tidewater at Norfolk. Va
Earnings of Utility Companies.
The average net profit of the lt.-
derlying operating companies. com
prIsing 10 of the largest electric Hch.
and power systems in the United
States, is $3.50 for each 500 y,
gross income, according to a colnpar,l-
tive analysis recently prepared hv
John Nickerson & Go. of New YORK.
The analysis is designed to show the
proportionate distribution of the gros4
earnings of such companies between
the underlying operating commands
and the parent company.
From the $3.50 average net earn.
lngs the interest and dividend require
ments of the operatin" companies
absorbs $50. leaving q balance appli.
cable to the operating company oc
$3.50. To this is added so cents of
incorporating income, which gives
the holding companies an average of
$3.50 from each S100 of gross earned
by their subsidiaries.
Various Other Financial Notes.
Eugene e Thompson, head of
Crane, Paris & Co. and Paul V. Key
ser will attend the Spring meeting
of the executive committee of the In
vestment Bankers Association, which
opens tomorrow AT White sulphur
Springs. w. Va. and continue through
the 18th. Mr.. Thompson is mem
ber of several different committees.
and Mr.. Keyser is the association
counsel.
John B. Cochran. president of the
Franklin National Bank, has returned
to his desk after motor tour throuch
Virginia, accompanied by Mrs. CoCh-
ran. He was lured to Winchester by
the apple blossom carnival. which IS
now over.
The regular quarterly dividend of
the LanSton MonOtype Co. of ~ per
cent is payable on May 81 10 stock
of record on May 81. The dividend
was declared at the recent meeting
in Alexandria.
Seaboard Air Line Railway offers to
extend the first mortgage ) per cent
bonds of the Seaboard and Roanoke
Railroad. maturing July / next. TO
July /. 1881. Holders who desire to
accept this offer must deposit their
bonds with the Continental Co. Balti-
more, Md, on or before June /.
Henry d. Lindsey & Co. and Cor
rell & Co. are Offering S1,400 900 North
American Light & Power Co. Z per
cent cumulative preferred stock at S99
and accrued dividend. to yield over
7.05 per cent. This stock is part Of
total authorized issue of $4,000 600,
oP ,,.IinI, %I,a,Sa 10. ;poI,rJ