Evening star., 1927-05-12

| Power at 10S12. There was q turn
over of $50 shares of National Mort
gage & Investment preferred at s.
In the bond division Potomac Elec.
trio Power 6s sold at 1854, while
| Washington Railway & Electric gen
eral and refunding Is were firm, at
| 103A
Exchange Governors to Meet.
| The quarterly meeting of the board
| of governors of the Associated Stock
Exchanges will take place in Pitts.
burgh next Thursday and Friday, Eu-
gene f. Thompson being the member
from Washington.
AT this meeting a report will be
presented on the adoption of uniform
| rules for stock listing. Such a move
has been considered for some time.
The suggested requirements will be
fully discussed, although the adoption
of any definite set of rules will not
take place until the annual meeting.
There are a host of other matter s
which will also draw attention. 1t is
expected that all the smaller ex-
changes in the country will adopt suf.
ficiently rigid regulations so that in
vestors in one city will be given full
protection and more complete infor.
nation when they are interested in
stocks or bonds listed on the ex-
changes in other cities in the associa-
ton. The secretary of the Detroit
Stock Exchange has a report Of 28
typewriter pages ready to present for
debate and approval. ....
Farmers May Lose Billion.
In it's monthly business review the
American Bankers Association Jour.
nal says:
1.-The floods and rnadoes in tile
Middle West are unsettling factors,
and the effect on the business situa-
ton cannot Yet be measured accur-
ately. In many instances it will be
too late, when the waters have re-
ceded. to make crop. Here is
problem of grave national impor-
tance. The cotton loss will go into
millions of dollars. as the flood zones
include the very finest cotton in the
Southern States. rhe agricultural
loss may go as high as $1,000 600. 900.
The lumber industry will suffer a loss
running into the millions. Again
there Is the mercantile loss in cities
and towns from st. Louis to New Or
leans. The damage to buildings and
the loss of buying power and the
money damage, in the opinion of some
of the best posted men in the Missis-
sippi Valley, will exceed $1,000, 900 ,000."
Southern Diaries Issue Coming.
Stroud, Kurtz & Co., Inc; Eastman,
Dillon & Co. and the Bank of North
America & Trust Co. Of Philadelphia
will offer tomorrow S2.500000 South
ern Diaries, Inc, three-year per
cent secured gold notes, due May /,
1880. at 99la and accrued interest, to
yield more than 6.18 per cent.
Heard i'm Financial District.
Sales OF the 446 Liggett Drug Stores
in the first four months this year
were $19,082, ,405. all increase of
$2.S58,154 over the same period OF
1896 April sales were $4.9S2.079. a
gain of nearly II per cent over April
last year.
r. r. Dunn, formerly manager OF
the Jacksonville Office. but more re.
Gently of the statistical department
of the. New York office OF. Harris,
Forbes & Co.. investment bankers,
has been appointed manager of the
Washington office in the Woodward
Building, succeeding T. J. Hopkins, 1r.,
who has gone to Birmingham, Ala,
to engage in business for himself. IL.
Clark Brown of the local bond de-
partment of the company will con-
tinue here as assistant manager.
Harry v. Haynes, president of the
Farmers & Mechanics National Bank
of Georgetown, stated today that work
on the new TenleytoWri branch will
probably be commenced within
month. the plans now being practi-
cally ready.
Hayden, Stone & Co, and the Chase
Securities Corporation announce that
the subscription books have been
closed on the, Offering of. $15,000.0
Allis- Chalmers Manufacturing Co. 10
year 5 per cent gold debentures. the
issue having been oversubscribed.
Institute Election Late Today.
The annual meeting of Washington
Chapter, A. I. B., takes place late to-
day, the polls opening at 4 o'clock and
remaining open until $50. Some
lively contests are expected for some
of the Offices, although there is but
one candidate for president, I. j. Rob-
erts. The election judges are:
Leo j. Moran, w. b. ~Hibbs & Co.: j.
Stephen Ramsburgh, Riggs National
Bank; L. T. Savage. American Secur-
ity & Trust Co.: T.. C.. Steffe, Federal
American National Bank. The tellers
will be: Fl. Jesse CLANCY. Commercial
National Bank; Raymond +. Lochte,
District National Bank; Norman f.
Towson, Washington Loan & Trust
Co and William G. Winstead. Ma
tional Metropolitan Bank.