Evening star., 1926-06-07
TRADING IS LIVELY
ON EXCHANGE HERE
Potomac Electric Power Pre-.
ferred Leads the Market
in Today's Dealings.
BY EDWARD c. STONE.

led the market in volume Of trading
when the weeks business opened on
the Washington Stock Exchange to-
day. Prices in both stock and bond
issues were strong.
Potomac Electric opened with the
transfer Of five small lots at l07L.
followed by two more sales at l07h.
and a later sale of five shares at the
same figure. Ten shares of Wash
ington Gas Light stock changed hands
at 81. the recent prevailing price
washington Ailway & Electric pre-
ferred opened on two 10-share turn
overs at SS7s, followed by another
1O-share transfer at 8S$t.
Two banks stocks appeared on the
board-10 shares of American Sc.
curity & Trust selling at 3s4. while
10 shares of Merchants Bank and
Trust Co. changed hands at 152.
Thirty shares of Merchants Transfer
& Storage common sold at ia. un-
changed from other recent trans
actions. Three shares of Capital Trac-
ton figured in the days sales at
1854, the price that prevailed at the
end Of last week. Lanston Monotype
was active. rs shares going at S6l4.
Georgetown Gas 5s opened the bond
trading. selling at 81. Potomac Elec-
trio consolidated IS sold at 1909. and
Washington Railway & Electric 4s
at S2k. The market closed with
small sales in Chesapeake & Potomac
Telephone 5s Of Virginia at par and
Potomac Electric first IS also at 100.
Convention Party Completed.
1t was announced today that the
Pullman day coach arranged for by
Robert N. Harper, president of the
District National Bank, will be at
tached to the rear of the regular Ches-
apeak and Ohio train leaving Wash
ington at 2 O'Clock on Wednesday,
June IS. arriving at Hot Springs at
$50 that evening. Those who will
go to the. local bankers convention in
this private car include Mr. and Mrs.
Ezra Gould, Mr.. and Mrs. Howard
Moran, Mr.. and Mrs. Percy McGlue,
Mr.. and Mrs. III. l.. Offutt, jr.; Mr..
and Mrs. Walter K. Bachrach, Mr..
and Mrs. f. A. Morse, Mr. and Mrs.
John p. Maury. Mr.. and Mrs. Laur-
ence Slaughter, Mr.. and Mrs. r. n.
Harper. F. j. Groom, B. L. Cotton,
Sidney West, /. A. Fleming. Mrs. n.
Il. Fleming, Mrs. Lucy Clark, Miss
Maury. Mrs. B. F. Iden, A. NJ Fisher.
Joseph Schiavone, r. p. Barnard and
z. f. Herrell.
The coach will be placed on a sid
ing and remain at Hot Springs to
bring the same party back to Wash
ngton at the conclusion of the con-
vention.
Educational Drive Opens.
The educational campaign planned
by the District Bankers Association,
yr-flJ he
Washington newspapers, opened to-
day and will be continued for nine
weeks. The matter will appear i'm a
different newspaper each day.
1t Is the intention of the association
to take the general public into its CON
hdence more closely and give much in
side information in regard to the
operation of banks. cost of manage.
ment, great services rendered. and in
other ways show their indispensable
value to every community. The open
ing chat, as the articles are termed.
relates to THE Banks Place in the
Community
This first talk will appear in tomor-
rows Star. 1t has been prepared with
great care by a special committee of
bankers, is teeming with interesting
statements and is we'll worth reading
and thinking about. 1t will tell many
depositor a lot of things he may not
know about his own bank.
Peoples Now Has SO Stores.
Peoples Drug Stores. Inc, has ac-
quired the chain of eight drug stores
In York, Pa, formerly owned and oper-
ated by Niles H. Shearer & Co., ac-
cording to an announcement made to'
day by Malcolm G. Gibbs, president Of
the company. This acquisition gives
Peoples a total of 80 stores. an in.
crease of IA, or IS per cent, since
January l. and is in accordance with
the plans of the company to further
expand its activities outside of Wash
ington, where the business originated.
Other stores have been acquired re-
Gently in Alexandria, Va. and Fred.
erick. Md, and several additional
stores have been opened or acquired
in Washington.
Peoples Drug Stores. Inc, was
established in this city in 1905, with
one store having sales for the first
year Of $4,000. The second store was
added in 1912. since which time the
chain has grown steadily until last
year sales amounted to over 5000, 900
from It's IL stores. The preferred stock
Is listed on the local exchange.
Trust Service Expanding.
There is no more illuminating proof
Of the wider acceptance and useful
aspects of trust service than the re-
cent development of cooperation be-
tween trust officers and life insurance
underwriters in the creation of life
insurance trusts. Insurance com
panies appreciate the Importance, says
Trust Companies Magazine, of en-
t.
serving the proceeds of life insurance.
which constitutes 81 per cent Of all
property left Of decedents, but also to
enable Americans Ito die at par" as
well as to make insurance more attrac.
tive in creating estates.
1t is conceivable that the time will
come when the appointment of trust
companies and banks as executors and
testamentary trustees is the rule
rather than the exception The tend
ency to dedicate wealth to philan-
thropic and educational purposes rem
ders trust service all the more vital
Bank Clearings Take Slump.
Returns of bank clearings last week.
which are for five days only because
of the holiday, show an aggregate of
$S,717 ,222 900 at leading cities Of the
United States. This is 2.5 per cent
less than the amount reported to
Dun's Review for the corresponding
period of last year. the decrease being
due to the smaller total at New York.
At $3,1S9, ,222 900. the clearings at
the outside cities show a gain of OIL
per cent, the most marked increase
being at Boston, Louisville, Detroit
and Cincinnati. The gain at Louis
vile is 37.5 per cent; at Detroit, 23.3
per cent; at Cincinnati, 1873 per cent.
and at Boston, ia per cent.
The largest reduction Is one Of 20.4
per cent at Minneapolis.
Today's Financial Notes.