Evening star., 1926-04-13
LOCAL EXCHANGE
CONTINUES DULL
Today's Transactions Con-
fined to 13O Shares of Stock,
200 Bonds.
BY EDWARD G.. STONE.

9i ,EOU DUliuo.
BY EDWARD G.. STONE.
Unreasonable dullness still contii
ues TO mark the daily sessions of H."
Washington Stock Exchange, today
transactions being confined to 13g
shares of stock and 81 200 bonds
There Is no evidence of any activity
IN the bond section, as evidenced H.
other markets, probably because hold
ers are not disposed TO make conces-
sions to make sales. holding prices
decidedly firm on all issues.
All the leading stocks-that is, the
shares that have furnished the great
bulk of the early-in-the-year trading
are neglected. with buyers and sellers
far apart.
One reason is that Mergenthaler
shares. q decided favorite. are being
exchanged two for one at this time.
and that traders are holding off for
some indication of probable dividends
on the no-par-value shares. Oisap-
pointment was felt at the last dec
laration on a 2i2 per cent quarterly
basis, with the claim that there j.
really no benefit from the doubline
of the shares unless there is to be
One of the active bank stocks oi
the year. Commercial National, j.
resting. pending developments of tfe
new securities company recent,
agreed upon by the shareholders, witt
capital provided by an extra 10 pc
cent dividend
Failure of merger negotiation
have been responsible for the drou
and lack of trading in Capital Ira,
ton. AT one time a merger W..
supposed to be matter Of fev
days, and the report was that Tra,
ton was to go in at $125 a share
Railway common has reached The
waiting stage. with rs points betwet'
bid and asked prices.
With the leading stocks on the IL.
thus affected. there is not mucI
room for trading. no speculation and
small investment demand. II is ro'
likely that this dullness will last Ice
yond the present month.
Local Brokers to Attend Banquet.
John L. Edwards. head Of John l..
Edwards & Co. and W. W. Spaid o.
W. b. Hibbs & Co. will attend the
annual New York Stock Exchange
banquet, to be held at Hotel Astoi
Friday evening.
This is the big social event of The
year for members of the New yorp
exchange and 1000 are expected 10
be present. Senator Lenroot and A.
torney General Ottinger Of New
York are to be the principal speaE
ers. Col. II. II. Winthrop preside,
of the Association of Stock ~
change Firms, will preside.
Richmond Meeting Tomorrow.
The annual meeting of the Stool
holders Association of the Fedora
Reserve Bank Of Richmond takes
place in the Virginia capital tomol
row and will be attended by many
bankers from Washington. Victor B.
Deyber. chairman of the associations
advisory committee. will head the
delegation from here. Others plan.
ming to attend include Robert V
Fleming, George o. Vass, John Poole
w. J. Waller and II. H. Mckee.
Senator Glass of Virginia will be
one of the speakers. George r. James
of Washington, member of the FED
eral Reserve Board. and II. NJ. Victor
of Charlotte, y. c., are also on the
program.
Tobacco Issue Is Sold.
Announcement is made that Alex
Brown & Sons have sold without pub
lie offering $l0,O0o,OOO Burley Tobac
CO Growers Cooperative Association
short-term paper.
The Burley Tobacco Growers Co
operative Association is one of the
best known and largest organizations
of it's kind in America. 1t is com
posed of 10S,000 members and con.
trolls 70 ner cent of hurley
The obligations are secured by ware
house receipts representing tobacco
valued at twice their amount. a ratio
which the association agree to main
tain.
New. Committees Announced.
w. W. Spaid, chairman of the gen
eral convention committee for the Dis
trict Bankers convention to be held
at Hot Springs, in June. today an
nounced the membership of the com
mittee on sports. 1t follows:
Charles H. Doing, jr., chairman
Washington Loan and Trust Com
pany; Herbert T. Shannon, vice chair
man, National Metropolitan Bank: G..
II. Pope, Munsey Trust Company: T.
p. Wilson, National Savings and
Trust Company: Ezra Gould. Wash
ington Mechanics and Savings Bank
Luther l.. Schreiner, Merchants Bank
and Trust Company: Edward l.. Hill
yer, Union Trust Company.
Mrs. Francis G. Addison. jr., wife
of the president of the association, has
been selected as chairman of the wom-
ems committee in connection with the
convention. Others who will serve
with Mrs. Addison on the committee
which will arrange entertainment for
women attending the annual bankers
gathering, are Mrs. Howard Moran.
vice chairman: Mrs. Victor b. Deyber.
Mrs. Robert B. Fleming. Mrs. Hilleary
G. Hoskinson, Mrs. Lanier p. Me
Lachlen. Mrs. Edward McQuade, Mrs
Frederick p. II. Siddons and Mrs. w
W. Spaid.
LOew's Earnings Reported.
Official estimates of earnings of
Loews, Inc. including Metro-Goldwyn
Pictures and other fully owned sub
sidiaries, for the first half of the fiscal
year of 1925-1926 indicate a new high
record. Net profit will be approx
mately $3,650, 900, after taxes. for the
% weeks ended March IA, compared
with $2,945,2 ,243 in the previous cor.
responding period.
An extra dividend OF . per cent in
addition to the regular dividend Of
per cent was declared on the capital
stock of the Colonial Trust Co. OF
Maryland at the annual meeting of
directors yesterday. The stock has
par value of SIS. The dividends are
payable April 21 to stockholders of
eecord at the close of business April 16
Southern's Fine Showing.
The pamphlet report of the South
ern. Railway Co. for 1925. issued
yesterday, showed in detail the extent
to which the road has shared in the.
increased prosperity of the South
The balance of income over fixed
charges for last year amounted tO
$22,579,172, equivalent to 1851 q
share on the $4,000. 900 common