Evening star., 1926-04-06

'AiiO SIdieS OF IOtOnldC Electric
Power preferred sold at 106 and the
stock then advanced half point on
the transfer of 10-share lot at 1061s
National Mortgage and Investment
preferred again was active 80 shares
going at S4 and 40 at 8as.
There was q good deal doing i'm the
bond division. Capital Traction IS
sold at par, the price being the same
as Saturdays close. Washington.
Baltimore and Annapolis Sc opened ~
6o and dropped to 81 Washington
Gas 6s We're lower today. selling q,
lo2 nat on small turnover. Poto-
mac Electric Power general and re
FUNDING Is registered 1868 on one
transaction
New Bond Issue Offered Here.
The F. II. Smith co. is today offer.
ing ii new issue of 81 400 600 frs.
mortgage 6A per cent coupon gold
bonds to be secured by closed first
mortgage on the land and building
of the Hilltop Manor Apartments. 10
be erected on a site bounded by Four
teenth, Oak, Ogden and Otis streets
in the northwest section of the city.
The officers Of the Hilltop Manor Co.
which owns the property and is bring
ing out the bond issue, includes Morris
Cafritz. president; Charles A. Gold
smith. vice president; Harry NJ. Gran
dali, treasurer. and Frederick NJ. Pel2
man. secretary. The new structure
will be a modern eight-story building
The bonds will be dated April /. and
the principal is TO he paid off in serial
maturities, according to the state
ment given out today
Earnings Show Large Gains.
The report of the Peoples Drug
Stores. Inc, covering the month of
March. made public today, shows
that sales for the month totaled
S413,696, which is an increase o.
month of March last year
The preferred stock of this com
pany was listed on the Washington
Stock Exchange only a few days ago
and the first trading in the issue took
place yesterday. when four shares
changed hands at 102
March sales of :. :. kresge & Co
also reported today. amounted L.
SS.S41,96S. a gain of 1876 per cen,
over March last year, bringing the
total for the first quarter of 92G
TO S23,4l9,152. against $50. .769. 600 for
the same quarter of 1925
Gleanings i'm Financial District.
I John Poole president of the Fed
called Il special meeting of the Distric;
| Bankers Association committee on un
| profitable accounts and business. 10 l..
held at the new bank tomorrow after
noon at o'clock. 1t is likely that
| plans will be made at the meeting for
drawing up the annual report to be
presented at the annual conve ntion g.
be held at Hot Springs. Va. in June
Harry v. Haynes, president of the
/. I|sl,- aeY.cs O.
in Georgetown. will be the next
speaker in the radio educational cam
fpaign now being conducted by the
American Bankers Association through II
affiliated organizations. This will be
| the sixth address i'm the series and
| will have TO do with trusts and tru~t
| settlements.
| Bank Changes Teller system
| The Union Trust Go. has adopted
| the comparatively new plan OF hay
! ing all their teller windows, both re
ceive and pay-out funds. As is the
| case in almost every bank the men
| at the windows prefer the old method
as they can work more rapidly when
doing but on thing. either receiving
or paying.
| But it is believed that in the long
run the public gets better-at least
| more IdIl4Cl-StINlCe DN having all the
| tellers both receive and pay out
money and checks. II oftens happens
! that many more people are making
| deposits than are drawing out money
| Under such conditions the added win
| dOwS will always be available there
| by reducing delays.
The change will he especially ap-
| preciated by the banks patrons on
Government pay days. when Gus
| toners always come in mucE more
| rapidly than they can be waited upon.
Monthly Bulletin Sent Out.
! The Monthly Bulletin of the Dis
! trict Bankers Association shows that
| March was a very busy month. LeaS-
/ ing of much larger quarters was one
/ of the most important steps taken.
| The Bulletin reports that all the com
| mittees for the annual convention are
| now getting we'll started in their work
! and also urges as large an attend
ance at the annual dinner at the Co
| lumbia Country Club on April 10 az
| was recorded last year. Reference
| also is made to the coming ESSAY
contest for institute students a'nd
others. The cooperative method Of
advertising the Christmas savings
clubs is reported to have been great
success.
Coal Boosted G. & o. Earnings.
Heavy shipments of soft coal. due
to the hard coal strike. played a verl
important part in lifting the Chesa
peake and Ohio's net income from
over $12.000,000 to more than $2O.
900, 900, detailed study of the annual
report reveals. Gross revenues
amounted to approximately $4,000
600 more than during the preceding
year.
The Schultz Retail Stores quarter
ly dividend OF per cent on common
| places this stock on an annual basis
| of per cent.
Since the organization of the State
Banking Department in Maryland.
total resources of the State banking
institutions nave increased from
S1S6, ,443 ,290 on June 80, 1910, to $3.50
731 ,207 on December 81, 1925, accord.
ing to the annual report of State
Bank Commissioner George w. Page
Total deposits, including bank bal
ances, have mounted from $154,066
723 to S5O4S97,326 The number of