Evening star., 1927-11-15
GAS LIGHT STOCK
|. At NEW HIGH MARK
Capital Traction Strong.
Considerable Interest in
Bonds Is Shown.
BY EDWARD C. STONE.

Washington Gas Light stock hung
up a new record on the Washington
Stock Exchange today when it
climbed to the 81 mark. The stock
opened at 1914 but stayed there for
only one sale. The days turnover
totaled 80 shares.
Capital Traction was strong again
today with shares opening at 1882
and AZ shares moving at 108&. Poto-
mac Electric Power s per cent pre-
ferred sold at 112 and the 51a per cent
stock opened at 1919 and closed al
107A.
Commercial National Bank stock
registered a 10-share sale at 269
and shares Of Union Trust came out
at 800. Barber & Ross common sold
at 351a, National Mortgage & Invest
ment preferred at 6H and Sanitary
Grocery preferred at 1922.
There was considerable interest in
bonds, strong prices prevailing in this
department. The market opened with
a 1000 turnover in Potomac Electric
Power 6s at 10S14, which is the high
quotation Of the year made recently
These bonds are so closely held that
transactions in them have been made
lately only at top prices.
There were two $1,000 sales in Wash
ington Railway & Electric as at 80 and
a $500 sale in Barber & Ross 61as at
81. The final bond sale was small
turnover in Washington Gas 6s, series
B, at 104&.
Bank Director Election Starts.
Voting by mail started today in con
nection with the election of two direc-
tors of the Federal Reserve Bank of
Richmond. Washington member
banks were sending their preferences
to William w. Hpxton, chairman Of
the board, at the Virginia capital. The
voting period lasts until December /,
when the ballots will be opened and
counted.
Charles E. Reiman, president of the
Western National Bank of Baltimore,
was the candidate of the nominating
committee for Glass A director, to
succeed himself. Edmund StrudWick
of the Atlantic Life Insurance Co. of
Richmond was the candidate for Class
B director, he also having been sug
gested by the nominating committee to
succeed himself. The election is for
a three-year term.
The Glass A directors are taken from
active bank officials, while the Glass
B board members are selected from
men engaged in business.
Foreign Department Moves.
The foreign department Of the
Washington Loan & Trust Co. has
moved into it's new quarters made
available by the construction or the
banks large addition. The change OF
scene took place yesterday, several
floral tributes were presented to those
in charge and many friends extended
hearty congratulations.
The Thomas Cook & Sons travel bu-
reau is located beside the banks for
eign department. The arrangement
and furnishings of the department are
most attractive and convenient. Other
departments of the bank are also grad
ually getting located amid their new
surroundings. The building will be
entirely completed in about two
months.
A move Of special importance to en-
ployes of the bank was made yester-
day when the new lunchrooms on the
top floor were opened. There are now
three special rooms, one for the men
another for the women employed. and
a third for the officers of the institu
ton.
Business Shows Large Gains.
Bondholders in this city have re-
ceived word that the total business
transacted in October by Collateral
Bankers, Inc, amounted to S1,126,4I3,
as compared with $679,644 for the
same month of 1926. The cumulative
total for the first 10 months of this
year amounted to $10,429009. as
against S5,635, ,0S0 for the correspond
ing period of 1926, representing an
increase Of IS per cent.
Life Insurance Business Jumps.
The Acacia Mutual Life Association,
local Masonic company, reports a net
gain of more than $50, 100000 for the
first 10 months of 1927. This repre-
sents a 81 per cent increase over the
same period last year and is greater
than the gain for the entire year 1926.
Stability Now 95.3 Per Cent.
Europe now has an economic stabil-
ity of 95.S per cent, as measured by
the stability of foreign exchange of
its principal nations. excluding Rus
sia. according to data prepared by
Ames, Emerich & Co., investment
bankers. This is a new postwar high
mark and compares with a stability
of only 5S.1 per cent in 1922. and S5
per cent in 1926, as shown in "Econo-
mic Briefs Of Europe" one of the
latest books on European affairs,
which has just been privately pub
lished by these bankers.
Heard i'm Financial District.
Clarence F. Norment, chairman of
the board Of the National Bank of
Washington, and head of the Norfolk
& Washington Steamboat Co., is visit
ing Atlantic City. where he will re-
main until after Thanksgiving.
Albert L. Smith Of the banking firm
of Edward B. Smith & Co., and a
in the Stanley Co. of America.
has been elected director in First
National Pictures.
William L. Casey has tcen elected
president of the Continental Trust Co.,
Baltimore, to succeed the late S.
Davies Warfleld. He was senior vice
president.