Evening star., 1926-10-20
PEPCO PREFERRED ADVANCES
IN TRADING ON CHANGE HERE
Dealings Rather Light Today-Jose De-
clares Automobile Business Here Is Good.
Georgia Marble Issue Offered

FSeventy-five shares OF National Mort
gage & Investment preferred changed
hands at 81, unchanged from recent
sales. ~
In the bond division Potomac Elec-
trio General and Refunding Is regis
tered two $1,000 transactions at 106
and Potomac Electric First 5s appear
ed on the board at 101. The only stock
now being listed as ex-dividend is,
Washington Gas.
Reports Auto Trade Expanding.
Rudolph Jose, for % years in the
automobile business in this city, de-
clares that trade in this line in Wash
ington is excellent. Referring to in
stallment buying in the auto field, he
said today that this method is being
administered, for the most part. in a
highly satisfactory manner here and
that it is stimulant to trade rather
than otherwise. He reports that the
volume Of local sales are showing
steady increase in keeping pace with
the city'S business growth in other
directions. He is highly optimistic
over the auto outlook all over the
country and refuses to believe that
there is any such thing as the much
talked-of Saturation point in the de-
mand for motor transportation.
New Bond Offering Announced.
The Georgia Marble Co. through
Townsend Scott & Son, Baltimore
bankers, who have a Washington
office, is offering $1,000,000 first mort
gage and sinking fund gold bonds,
dated November /. 1926, and due
November l, 1880. They are priced
at 991a and interest. to yield over 6
per cent. The company is known in
Washington as having furnished
marble for the COrcoran Art Gallery.
American Building. Senate and
House Office Buildings. National
Metropolitan Bank and Mt. Vernon
NJ. l.. Church. The firm has been in
business since 1884. The purpose of
the new issue is to pay off all bank
loans, retire the outstanding balance
of a previous bond issue and provide
additional working capital.
Another Train Control Deal.
Several weeks ago it was announced
that the Miller Train Control Co. had
granted extensive selling rights to the
General Railway Signal Co. 1t is now
reported that the Union Switch & Sig
nal Co. has been given the same
rights. The Miller officials expect the
new move will mean substantial in
crease in sales. The announcement
says that the agreement with the 9th
er two companies does not in any
way affect the corporate structure of
Miller control and the company still
reserves the right to make direct
sales to certain railroads. Much Mil
Ter stock is held locally. the company
having started in business about 10
years ago, and is quoted regularly in
the Washington Stock Exchanges un-
listed department.
Ample Loans for Farmers.
Federal and Joint Stock Land Banks
We're praised at the meeting of the III
vestment Bankers Association in
Quebec, their steady growth and the
loans they have made to farmers be-
ing specially lauded. The report added:
The Federal Land Banks loaned to
the farmers during the eight months
to September l, 1926, 87.OS7.1 .12O, max
ing 24,526 loans, an average of about
$500 The various Joint Stock Land
Banks during the same period made
14,126 loans aggregating S,362 1923,
an average of about $4,000.
The net mortgage loans outstanding
on December 81. 1925. were:
Federal Land Banks. ST .005 ,6S4 ,S16.
Joint Stock Land Banks, $545, $50 200.
Paul V. Keyser, Washington at
torney, was again retained as counsel
for the Investment Bankers ASsocia-
ton which recently closed it's annual
session at Quebec. Mr.. keySer has
served the association for several
years.
John Poole, president of the FEEDER
a!-American National Bank will make
an address tomorrow at Detroit be
fore the Direct Mail Advertising AS
SOciation
President Maurice Otterback of the
Anacostia Bank will arrive home
from the bankers convention next
Monday. When last heard from Mr..
Otterback was sightseeing in Oregon.
G. Bryan Pitts. chairman of the
board of the f. II. Smith Co.. has re-
turned to his office after a three
weeks vacation at Hot Springs.
Other Financial Rrevities.
A better understanding on the part
of both the public and the railroads
now exists as to their mutual prob
lens than has ever existed before,
Alfred p Thorn of Washington, gen
eral counsel of the Association Of
Railway Executives, today told the
Associated Industries of Massachu-
setts in Boston.
The first meeting of the year of the
class in public speaking at the In
stitute of Banking will take place
this evening. Fernand Petit. finan-
cier and former stage star, will con-
duct the course. a large enrolment
is expected.
The luncheon group of the District
Bankers Association resumed their
mid-Week luncheorlS today.