Evening star., 1927-10-17
CAPITAL TRACTION
At NEW TOP PRICE
Reaches 111-Gas Light
Leader in Trade Volume.
Railway Preferred Strong.
BY EDWARD c. STONE.

BY EDWARD G. STONE.
Capital Traction scored a double
| top" on the Washington Stock Ex-
change when the weeks trading
opened today. The stock opened at
10, which was a new high mark for
the year, and later in the session
climbed still further to Ill. The days
turnover was only 20 shares.
| washington Gas Light stock was
| the market leader, opening at 81 "a.
| The next sale included 100 shares at
| 81 flat, the stock afterward selling at
811a and closing at ST. the sessions
| turnover being $50 shares. Potomac
| Electric per cent preferred sold at
| 112.
Washington Railway and Electric
preferred was also strong, opening at
SO, advancing to 99B and then hit
ting new high for 1927 at 99h.
Another stock to reach new high
ground was Columbia Sand and Gravel
preferred The stock registered three
| 1O.share sales, the first at 1929, the
next at 1925 and the close at 103.
American Security and Trust Co.
| was the only bank stock to appear
on the board, 20 shares changing
hands at AGA. There was one bond
sale, q $4,000 transaction in Potomac
Electric consolidated 5s at 103.
Bankers Leave Here Thursday.
The Washington delegation to the
American Bankers Associations an
nual convention at Houston leaves
here next Thursday, October 20.
Among those planning to attend are:
Francis G. Addison, jr., vice president
of the Security Savings & Commercial
Bank; Harry V. Haynes, president of
the Farmers & Mechanics National
Bank; Robert N. Harper, president
District National; Howard Moran, vice
president American Security & Trust
Co.; A. M. Nevius, vice president Riggs
National; Victor B. Deyber, president
Second National; Maurice Otterback,
president Anacostia Bank, and F.
Gloyd Await. deputy controller OF the
currency L. e. Mountjoy, Washing
ton representative of the national asso-
citation, is also a regular attendant
at all conventions.
The Atlanta and New Orleans
bankers have made elaborate plans
for entertaining the local delegates
during stop-overs in those two cities.
New Broker Offices Opened.
The new brokerage offices of G.. NJ. p.
Murphy & Co. were thrown open TO
the public today, one being located
at 1903 f street and the other at the
corner of Connecticut avenue and *
street. Both offices were elaborately
decorated with flowers sent by in
dividuals and various firms in the
financial district. Each office has COM
plete market facilities and neither one
Is considered a branch Of the other.
G.. M. P. Murphy, head Of the firm,
Edward o. Mcdonnell, another mem
ber, and Otis GlaZebrook, came over
from New York to see the offices get
under way, being the guests of the
manager, Oscar Collican.
The bond department under c. G.
Morgan, is in the II street office. The
stock department in this office is under
Robert c. Jones, assisted by John r.
Parker and e. A. Poe, jr. G.
Flather is in charge of the uptown
office and with him are associated Il.
r. Finkenstaedt and J. N. Thompson.
Securities Statesmen Visit City.
H. G. Thyson, resident manager of
Harris Mooney & Co., is today enter.
tanning the members of the stairs or
the Boston, New York and Baltimore
offices who are celebrating recent
successful stock selling campaign. The
party came ever from Baltimore and
had luncheon at the Mayfiower at l
o'clock. Later in the day they were
to enjoy sightseeing trip throughout
the Capital
Tomorrow and Wednesday will be
given over to business conferences in
baltimore and to further entertain
ment. A dinner attended by Gov.
Ritchie and the mayor of Baltimore IS
on the schedule. The visitors were
ioined at the luncheon here today by
several prominent local financiers.
a. r. & r.. Dividend Checks Mailed
The American Telephone & Tele.
graph Co. mailed 421,9S2 stockholders
dividend checks. This is the largest
number to whom the corporation has
ever paid a dividend and exceeds by
1851 the number for the preceding
quarter.
There were no important changes
during the quarter in the distribu.
ton of stock Only per cent is held
by brokers', balance being owned by
investors throughout the country and
5000 in foreign countries.
Average number of shares held per
shareholder is 26. More than one
half the stockholders own 10 shares or
less and more than three-Quarters
own 25 shares or less. The number
Of stockholders owning shares or
less exceeds the total number in any
other American corporation.
Mellon Makes Offer on Bonds.
Secretary Mellon. in again calling
attention to the fact that Second
Liberty loan bonds have been called
for redemption on November Is. and
will cease to bear interest after that
date announces that for the conven-
ience of holders he has authorized
the Federal Reserve Banks to pur-
chase. at the option of holders, Sec
ond Liberty Loan Az per cent bonds
at 100 1892 and accrued interest to
date of such optional purchase.
The offer will remain open during
the present week only, terminating
on October o. The Second Liberty
loan, a per cent bonds are not in
cluded.
Heard i'm Financial District.
The Treasury paid out approximate
ly $146,000000 Saturday in interest
due on various Government Obliga-
tions.
An important Fall meeting of the
District Bankers Association will take
place at 4 o'clock tomorrow afternoon.
The Federal Reserve Board reports
that at the end Of June, 1927, all
banks in the United States, including
both members of the Federal Reserve
system and non-members, had loans
and investments aggregating about
1890 100000, or about $1,270,000,000
more than at the end of the first quar-
ter of the year.
Our net earnings this year will at
least equal those of last year, and may
tr frrIak