Evening star., 1926-09-28
WASHINGTON GASLIGI1T ACTIVE
IN BUSY SESSION ON CHANGE
Linotype Also Dealt in Heavily, Showing
Half-Point Gain-W. R. e E. Pre-
ferred Scores Advance.

II6 StdUlCy III dHudIl ". ID oA All
portant subsidiary of the Stanley Co
of America. which is one Of the
| largest exhibitors of motion pictures
in this country. New properties ac'
quired by Stanley Crandall Co. OF
| Washington are the Boulevard The
ater in Baltimore. Chevy Chase The
ater, Apollo Theater in Martinsburg
w. Va, and sites in Baltimore and
| Frederick, Md, where additional the
| aters will be constructed. With these
additions the chain controlled by the
| Washington subsidiary of Stanley
| Co. of America will number 16
theaters. Net earnings Of the sub
sidiary company bringing out this
! half Of this year.
! Railroad Earnings Jump.
| Net railway operating income of the
| Pennsylvania Railroad in August
| totaled $11 ,96S,898. an increase OF
! $455, ,566 over the corresponding month
| last year. For the eight months
ended August 81. the company's in
| come amounted to $66,396.440, a gain
| Of $6,497 ,65S over the same period of
| 1925. Gross revenues in August in
creased s2,46s,752 to s43,312.131.
Surplus of the Southern Railway
| for eight months of 1926 was $13,794, ;
| 900, equal, after preferred dividends.
to $3.50 share on $12O, 100000 com.
| mon stock, compared with $12,321 900
in the same period of 1925, or $3.50
| share on the common.
Glass work at Washington Chapter.
American Institute of Banking, began
last evening in the new headquarters
in the Becker Building, the enrolment
being highly gratifying. The work in
%xr,@ co. mob i Loot
being commercial law, taught by Ray.
mond B. Dickey, dean of the faculty
| and the other accounting. in charge
of William M. Deviny. Tonight the
| work begins in banking fundamentals.
| This course Is offered by Eliot II
| Thomson, and is expected to have the
| largest number of students in any
| study. F. J. Donahue will also give
| the first lecture this evening in his
| important course in standard econom-
| les. The new course in invest
| ments, which will be taught ky Y. f
i Booker, will also meet for the first
| time tonight, when the instructor will
| outline what the students will be ex.
| pected to accomplish during the first
semester.
Directors Dinner This Evening.
Francis NJ. Savage, president of
the Central Savings Bank, will pre-
side at the annual dinner of the Off.
GERS and directors of the bank which
takes place this evening at Common
wealth Farm. and at which the fol.
| lowing will be among those present
Charles w. Morris, vice president; ].
William Roberts, cashier; G.. Edward
Way, assistant cashier and new bust
ness manager; Dion S. Birney, attor-
ney; and these directors, Gregg G..
Birdsall, j. Floyd Cissel, r. II.
Gruver, Franklin w. Harper, Jesse
II. Hedges, Judge George H. Mac.
Donald, Judge Milton Strasburger
and Garden F.. Warner, Spencer Cor.
don, DR.. E. F. Sappington and Yves.
ley Morris will be among several spe-
| cially invited guests.
Visitors Inspect Local Bank.
Several out.of-town bankers have
recently visited the Federal American
National Bank to inspect the elevated
banking room and the cageless count.
ers. Among them were Maj. Jackson
NJ. FAINTER, trust officer, West Branch
National Bank. Williamsport William
r.. katenkamp. vice president, Ma.
'tlonal Central Bank. Baltimore: Allen
r. Rankin, assistant secretary. Buck.
eye State Building & Loan Co., Co.
iumbus. Ohio, and c. A. Spoerl, vice
president, First National Bank, Jer.
| sey City.
Coal Prices Stiffen.
Even with soft-coal production in.
creasing by leaps and bounds, prices
nave been moving higher. Foreign
buyers. who for about four months
nave been able to keep prices down by
cautiously regulating purchases, are
now losing their grip on the situation,
says Black Diamond. Domestic buy
ing In the American market that had
been delayed for weeks in the ex-
pectation that the British coal strike
would soon end can wait no longer,
and is now an active market factor.
Price is no longer as important as
getting the coal.
Export demand is absorbing more
than what ordinarily would be the
excess production over normal con-
sumption.
Other Financial Notes.
The Federal Reserve Boards con-
ditiOn statement of 694 reporting
banks in leading cities as of Septem-
ber % shows reductions for the week
Of S57 900, 900 In loans and discounts,
S34 100000 in investments and $371,-
100000 in net demand deposits, and
an increase of $4,000, 900 in borrow
ings from Federal Reserve Banks.
OversubscriptiOn is reported to the
offering Of S3,0000O0 Bayway Ter
minal GIG per cent first mortgage
sinking fund bonds
F. S. Wynn of this city. vice presi.
dent of the Southern Railway. who
was elected director last Friday
takes the place on the board made
vacant by the death Of Robert Jem-