Evening star., 1927-09-28
BANK BODY ELECTS
NATHAN B. SCOTT
Becomes Continental Trust
Co. Director - PennSy
Earnings Smaller.
HY EDWARD {. STONE.

| Nathan f. Scott who is Il grandson
! Of the late Senator Nathan +. Scott
| Of West Virginia. has been elected II
member of the board of directors of
| the Continental Trust Co. the action
| having been taken at the regular
monthly meeting yesterday. President
Wade II. Cooper announced today.
Some time ago the young man was
| employed by the Continental Trust
! Co., 80 that he already is more or less
! familiar with the banking profession.
| After giving up his position in the
bank he was married. and only recent
lv has returned from an extended trip
abroad. He is a member of the
| Racquet Club. the Chevy Chase Club
| and is a graduate of Yale.
Years ago his grandfather was close.
| " identified with the affairs of the
trust company. Several members of
the board today expressed pleasure in
having another member of the family
as a director.
| Potomac Power at New Top.
! Potomac Electric Power 5is per cent
preferred stock hit 10o on the Wash
ington Stock Exchange today, a new
top since the stock went on the board.
The days sales included one transfer
Of a 200share lot.
Other prices were strong. Gas Light
was again active around 1919, Railway
& Electric came out at 95h and closed
at SO. Columbia Title Insurance Co.
moved at ~. and 40 shares OF National
Mortgage 4 Investment preferred sold
| 1T Z. \ 3.Share sale in Capital Trac-
ion was recorded at 1O5h
| National Metropolitan Bank stock
came out at Ais, 10 shares of Amer-
ran Security & Trust sold at 40 anC
the same number of shares of Mer-
chants Bank d Trust Co. at l55. Mer.
! senthaler sold at 1l2. Lanston at 1914
and the recently listed Columbia Sand
& Gravel preferred moved at par. San
itary Grocery maintained its high
| mark of 1929. Bonds were firm, but
quiet.
Pennsy's Earnings Also Fall on,
The Pennsylvania Railroad, like the
! New York Central and Baltimore &
ONO, had smaller earnings in August
than a year ago, net operating income
falling to $10,247,99 from $11,739,37S.
Net for the eight months this wear
| however. was larger, S69.32O, ,5O2
against $65,093,47 in the same period
of 1926.
The American Ice Co declared a
quarterly dividend of 80 cents a share
on the new common stock. payable o.
tober % TO holders of record October
Z. placing it on an annual dividend
basis Of s.. The old stock. split four
for one. paid IS year. The regular
quarterly of ~ per cent on the pre-
ferled was authorized.
Counterfeit $40 Bill Warming.
The Treasury Department has just
issued, in its circular letter 598, a de.
scription Of a new counterfeit $40 gold
certificate. 1t is series of 1922. check
letter &, face plate 252. back plate IS:
I'll. '. Speelman, register of the Treas
urN: Frank White, treasurer of the
United States; portrait of Michael Hill.
legas.
The counterfeit Is described as "1an.
gercus." 1t is however, nearly n o,1,r
ter of an inch shorter than the gen.
uin". 1T is printed from etched plates
on two pieces of very thin paper be.
tween which few silk threads.
coarser than those in the genuine
have been distributed
Reserve Bank Loans Increase.
The Federal Reserve Board reports
that total loans and investments of
member banks increased $500. 900. 900
between August II and September 81
exceeding all previous records.
The boards summary of business
and financial conditions also states
| that sharp increase in the produc.
| ton of hard coal and soft coal has
| taken place in the last month. along
with an increase of per cent i'm the
| general level of wholesale commodity
| prices. Retail distribution of com
modities also increased more than the
| seasonal amount
Bank President Back at Desk.
Charles j. Bell. president of the
! American Security g. Trust Co, was
| back at his desk today after several
weeks spent in Maine and near
| Quebec. Mr.. Bell Is a lover of the
great outdoors and passed much time
fishing. One Of his friends announced
today that the old saying. There are
! just as good fish in the sea as ever
were caught" no longer applies to the
Maine lakes, the bank president hav-
| ing enjoyed even better luck than
President Coolidge had in the Black
Hills.
Mr.. Bell was given n cordial wei.
come on the local stock exchange.
where he is one of the most regular
! attendants.
Heard In Financial District.
Thomas W. Brahany of Crane.
Paris & Co.. attended the fair of
the Iron Horse at Baltimore yesterda Y
and reports that the r. & Q. has a
| splendid show well worth the time
it takes to see it. The pageant and
exhibits are drawing very big crowds.
Boitha j. Laws is substituting at
the institute for Raymond r. Dickey.
who is on trip to California.
Gov. Albert G.. Ritchie will address
the joint conventions Of the Interna-
tional Association of Casualty & Sur
ETY. Underwriters and the National
Association of Casualty & Surety
| Agents. which meet at Greenbrier
Hotel. White Sulphur Springs, West
Va, October 4-6.
! w. l.. Beale, connected with the
real estate department of the Amer
lean Security 4 Trust Co, will be one
of the Washington representatives at
the coming conference of National
Tax Association at Toronto, Canada
October 10 to ID.
Vice President James r. Reynolds
OF the Commercial National Bank
who has been in Europe for several
months, is expected back in Washing
ton in few days. .
Measured by the volume Of check