Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-09
WASHINGTON GAS
|. ACKNOWLEDGEMENTS
Sterrett to Head Firm to Fur
nish Truck Service
in District.
By EDWARD c. STONE

bI EDWAkU Y. STUNE
Washington Gas Light stock made
a new high on this move on the Wash
ington Stock Exchange today when.
after opening at 60as, 1t sold at 10 on
i've transactions involving 20 shares.
Potomac Electric Power Preferred
sold at 10s: I'VE shares Of Continental
Merchants Transfer 4 Storage Pre-.
ferred changed hands at 10f and so
shares OF National Mortgage 4 In
vestment Preferred SOLD at 81. Union
Trust Co. stock, to the extent OF II
shares, sold at 21S Trading In the
bond division was very quiet At prac.
tically unchanged prices.
Truck Leasing Co. Formed.
John Al. sterrett. president and or
ganizer Of Sterrett & CO.. transporta.
pany to be organized here which will
specialize in leasing automobile trucks
and furnishing truck service for bust
ness houses. The firm is to start with
$500 600 capital 1t viii be known as
Sterrett Operating Service. Inc. John
Hertz, chairman OF the board OF the
Yellow Cab & Coach Manufacturing
Co.. will be chairman OF the board,
and Irving B. Babcock OF the Yellow
N@Gl ~
washington men, Clarence A. Aspfn-
wall. Stanton c.. Peelle and james
Sharp, are among the directors. The
headquarters OF the new concern will
be in the Setrrett Building at 1898 NJ
street northeast. Mr.. Sterrett has
been active in the local automobile
field for Is years.
Georgetown Bond Sale Approved.
Bids were opened yesterday after
noon and the Public Utilities Commits
per cent 50-year gold bonds by the
Georgetown Gas Light Co.. at 9Sh
and accrued interest, to Dean, Onata
via & Co., which was Joined in the bid
by J. & w. Seligman q Co. In approx.
ing the sale the Utilities Commission
said: 1T Is understood from you letter
ter and oral statement that SS1k IL the
highest price obtainable and repre-
sents the net amount to be received by
your company from the sale Of these
bonds. The sale WIN give the
Georgetown Gas Light Co. $1,000. 600
outstanding bonds, $750.000 having
bidders were Crane. Paris q Co.,
with an offer of $3.50, American g.
curity q Trust, 81; Farmers q Ne.
chanics Bank, s6as; and Harris. Forbes
& Co., s41k. 49, I
Banks Declare Dividends.
The usual semi-annuaf dividend Of
per cent was declared at meeting
of the board of directors Of the Inter
national Exchange Bank yesterday
afternoon. payable on July 1S to stock
| holders of record on June 20. Joseph
Schiavone. the president, reports that
the bank is making drive to get the
deposits up to 81 200 900 by August 1.
At a meeting of the board OF al.
rectors of the Washington Loan 4
Trust Co. Wednesday. the regular
quarterly dividend OF 80 per share
was declared. payable August. The
books viii be closed from July. 20 to
August 2, inclusive; August being.
Sunday. -
Richmond Discounts Decline.
Discount operations at the Rich.
mond Federal Reserve Bank. continued
to move counter to the trend OF the
reserve system as q whole during the
! first week in July Discounted bills
at Richmond. rejecting the usual sea-.
sonal let-up in agricultural credit de.
mand, in the local fifth district, de-
clined approximately 81, 400 900 to $44,.
| 100000. On the other hand. the
volume of rediscounts OF the IL Fed
eral Reserve banks Combined apurted
ssS' sSS 900 during the week from fbls,.
031. 600 to $612,567V00.
There was also q downward trend
in bills bought in the open market at
x1n eEs noa I,,,,a az =, : e Az oon
Iri,. g..te $3.50, 80, SJ.A ~.
s.a,.. =. ,.s.5.sx s51 cog onn - sssz az
rco nnn - SA1'oSS'VVO -
| eos'VVV' sas
Institute Delegates Texas-Bound. 4.
Tha u washington delesates 10
ths Convention ~ 4is Auoericsn Insti-
tllte of Banking at Dallas Tex, left