Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-10
EARNINGS
FAR AHEAD OF 1925
Gain Of SO, OO0, 900 in Half
Year Noted-Lanston Divi-
end-Einancial Briefs.
BIZ EDWARD c. STONE.

By EDWARD G. STONE.
w. w. Atterbury, president Of the
Pennsylvania Railroad. on sailing for
Europe from New York today, de-
clared that the road is in a strong
cash position and will not have to
borrow any money this year nor per-
haps next year. Net earnings for
the first half Of 1928 will be more
than 100000 ahead Of the same
period last year. In reply to ques-
lions as to q possible increased divi-
dend rate on the common stock, Mr..
Atterbury said that this matter was
entirely in the hands Of the directors.
The road, however, is having excep-
tional earnings, he added.
Educational Committee Named.
/. J. Roberts, secretary to the presi-
dent of the Riggs National Bank. who
is chairman of the educational COM
mittee of Washington Chapter, Amer
lean Institute of Banking. has selected
his associates for the coming year.
Those to serve with Chairman Rob
erts include A. z. Hence, w. b. Hibbs
& Co.; Francis G.. Addison. jr., past
president of the District Bankers As
ISOLATION and vice president OF the
Security Savings & Commercial Bank:
Edward j. McQuade vice president,
Liberty National; Harold w. Burnside,
assistant cashier, Farmers & Me
chanics' National; James c. Dulin, Jr..
assistant treasurer, American Security
& Trust Co.; r. Jesse CLANCY, past
president of the Washington Chapter,
Commercial National; Miss Grace NJ.
BROMLEY, assistant secretary, District
Bankers Association; H. H. Darneille,
National Metropolitan; Miss Dorothy
". Colburn, Washington Loan & Trust
Co.; Robert T. Highfield, Mount Yer
non Savings Bank; Elmer O'Hara,
Seventh Street Savings Bank; Walter
L. Sanderson, Federa1-American Ma
tional; Audley A. p. Savage, National
Savings & Trust Co.; James A. Soper,
cashier, Lincoln National, and Miss
Alice H. Whitton, First National
Bank, Alexandria, Va
1t is expected that September will
see the opening of the most conpre-
hensive program the institute has I'M
dertaken. as the work Is expanded q.
little every year. The faculty which
will train Washington's banking per
sonnet will be announced later. Miss
s. Winifred Burwell of the National
Metropolitan has been appointed Sec
rotary of the committee.
Bureau Spends $75O,0OO Annually.
Edward L. Greene, director of the
National Better Business Bureau, re-
ports that $500 is now being spent
annually to improve business and
safeguard buyers and investors all
over the country. There are now "A
local bureaus. the one in Washington
under Director Rothschild being one
of the most active and successful.
Mr.. Greene says the truth in ad-
vertising campaign" has made great
strides all over the country during
the past year.
Florida Bonds Sold in North.
A syndicate headed by the Century
Trust Co. Of Baltimore has purchased
an issue Of approximately $21OOO.OO0
CITY Of Coral Gables, Fla, 8 per cent
improvement bonds. This Is the first
financing Of Coral Gables that has
been sold in the Northern market
since It was incorporated as city
in 1925, all other issues having been
purchased In Miami.
Today's Financial Notes.
The directors of the Lanston Mono
tyne Co. yesterday declared the regu-
lar quarterly dividend of Ia per cent
payable on August 81 to stockholders
of record August 81. Lanston is one
Of the leading stocks on the Washing
ton Stock Exchange, and 1t Is underI
stood that earnings so Tar this year
are very satisfactory.
June sales of 8. S. Kresge Co,
GAINED Tl.S per cent over June last
wear. &s.s34,366 against $7.S97,6S1, a
total Of $49, 1877, 307 for the first half
Of 1926, compared with $44,654,S1o
year ago.
The Norfolk and Portsmouth Belt
Line Railroad applied to the Interstate
Commerce Commission yesterday for
authority to issue 100000 of per
cent bonds.
redmond & Co., and ]. G.. White &
Co, Inc, announce co1ncidenIally
with the offering of a new issue OF
81, 500 900 Georgia Carolina Electric
Co. first mortgage s per cent gold
notes, due June l, 1929. that the issue
was 100 and interest. to yield 8 per
cent.
Personal Mention.
Hugh w. Barr, formerly connected
with the Continental Trust Co., who
Is now associated with the Philadel.
mia exposition as an auditor, Is in
washington for q short stay. and
calling on friends in the financial dis
trict.
w. T. Gallfher, chairman Of the
board OF directors Of the Federal
American National Bank. is taking
3 short vacation, which he is passing
in Asheville. N. G.
George T. Bishop of Cleveland.
chairman of the board Of directors of
the Washington, Baltimore and Ana
polls Electric Railway, has been
elected director of the Chesapeake
and Ohio, thus aiigning himself with
the Van Sweringen Nickel Plate Sys-