Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-09-10
NEW CHAIN STORE
LISTING FORECAST
Sanitary Grocery Stock Like
Iy to Appear on Local
Exchange Soon.
BY EDWARD c. STONE.


BY EDWARD c. STONE.
It is believed in the financial district
that the preferred stock of the SAM
tarv Grocery Co. soon will be listed on
the WASHINGTON Stock Exchange,
thereby adding another issue to the
fast growing array of local securities
in which trading has shown such
rapid increase during the present
year.
Sanitary Grocery preferred is now
paving $3.50 dividend and selling
lover the counter" in New YORK
around 102. The common is listed on
the New York Curb and has recently
held very steady around 23o.
According to this weeks reports the
sales in August showed an
increase over last August of more than
10 per cent and gain of almost .
per cent for the first eight months of
the present year; sales FOR that period
reaching S10,727,S12.
Onlv a few days ago the Sanitary
Grocery Co. purchased 40 PIGGY Wig
Civ stores located in and around
Washington, these stores to be ope-
rated through subsidiary known as
the Piggy Wiggly Eastern Co. of
Delaware The new acquisition gives
the Sanitary Grocery Co. total OF
361 stores.
Chain store stocks are popular all
over the country and the placing of
one, or both issues on the local eX-
change is sure to give them an active
market. The only chain store stock
already on the list is Peoples Drug
Stores preferred, which is both ac-
tive and strong. Before many moons,
however. Old Dutch Market may also
find it's way onto the local board.
Calls Florida Outlook Brighter.
Gravel to Florida promises to be
much better during the coming Fall
and Winter season than a year ago.
Fairfax Harrison, president of South
ern Railway Co, says. He believes
that the depth of the post-boom de-
preston was reached last season and
declares that recovery has set in.
Carriers serving Florida look for
a substantial amount of business this
season. Commercial and financial
have improved greatly. Ac-
commodations are better for the an
nual influx of travellers than ever.
Buying power down there has re-
covered.
Insurance Agents Return Home.
The Washington representatives of
the Atlantic Insurance Co. have re-
turned from the annual convention OF
the company. held at Spring Lake,
y. J. In the party were John n.
Buck. agency director; J. Joseph Con-
nell, John c. Marsh, A. c. Ridgeway
and James G.. Stone, special agents.
The Washington agents received
many congratulations at the conven-
ton. as the local Office succeeded in
writing more insurance in the first
eight months of 1927 than was written
in the entire previous year.
Buying Power OH Increase.
Credit Review says that purchases
for the week show an increase over
last week in all but the mountain and
middle agricultural sections, and over
the same week last year in all sections.
Indebtedness is reported heavier
than either last week, or the same
week last year. Payments are better
than the previous week, but not so
good as the same week last year.
Buying continues satisfactory In
most lines, but there is d general COM
plaint of slow payments and increasing
Seasonal Bend Rise Forecast.
Moodys Weekly Review says:
Bond prices should show at least
an average seasonal rise between now
and the middle of January, and in
the averageor typical case they be-
come stronger and stronger from Sep
TENDER to January. inclusive. AT the
same time. yields are already low
enough so that any further advance
from this level should be moderate or
small rather than great
stock prices continue to give prom
Use Of going higher. All upward move
ments in the past have eliminated
either in the time of general trade in
fla ton or else in the time of imitation
Of brokers' loans and financial bust
ness-whereas at present we have
neither the former nor the latter"
Treasury Issues Far Oversubscribed.
The Treasury's half-billion dollar
Offering of securities was
more than three times oversubscribed.
Secretary Mellon announced yester-
day.
Subscriptions to the S250.000,00 of
Treasury certificates totaled S5S0,00O,-
900. For the $3.50, 100000 of Treasury
notes they amounted to more than
81 900 100000.
The closing of books refers to cash
only. The privilege of
exchanging second Liberty loan Az
per cent bonds for the new 49, per
cent Treasury note will probably re-
lnoqe 10 no nun uedo u!Cu
September 90.
Norris Plan Issue Due Soon.
A syndicate of bankers expects
shortly to offer $4,000 900 per cent
secured bonds of Morris Plan Shares
The new concern is
wholly owned subsidiary of the Indus
trial Finance Corporation, and was
formed to hold all of the latter's stock
interests in 81 Morris Plan banks and
he Morris Plan Insurance Corporation
over a period of Ii years.
Local Bank Clearings Gain.
Washington bank clearings during
he first week of September totaled
;22 .3SS. 900, compared with the higher
igure of $22, SAT 900 for the week end
ng on September !. The returns.
however, are more than 4 per cent
lbove the corresponding week year
ago, indicating healthy business con-
lftions here. Bank clearings for the
as whole were in excess of
hose ever reported for the first week
n September.
Insurance Employees Plan Outing.
More than 400 officials and employees
If the Acacia Mutual Life Association
will attend the annual home office out
ng. which is to be held at the Manor
Nll1h ON Tuesday Sentemher 13. &C