Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-07-07
}EPCO PREFERRED
MARKET LEADER
Capital Traction Also Active
in Trading on the Local
Exchange.
BY EDWARD C. STONE.

BY EDN AkD T.. SIUNE.
Capital Traction was more active
on the Washington Stock Exchange
today than it has been for some time.
opening at 105 on three sales totalins
SO shares. 1t closed at 1854 on a
one share transfer.
Potomac Electric Power So per
cent preferred was the market leader,
selling at 101% on seven transactions
totaling a turnover of 119 shares.
Washington Gas Light registered
sale at 75%, Washington Railway &
Electric preferred came out at 91A
and 80 shares of National Mortgage
& Investment preferred sold at IN.
Three bank stocks appeared on the
board. Second National sold at 23O,
Union Trust at $50 and Liberty
National at 206 Bond prices were
firm. Potomac 6s sold at 10S, and
Washington Gas 6s, series A, at 1882
There was a $500 transfer in the I'M
listed department of Army & Navy
SIS at 81.
Banker Given Complimentary Dinner.
Francis M. Savage, president of
the Central Savings Bank, which re-
was given a complimentary dinner
last e. ing at the City Club by his
directors on the board of that bank
and associates on the board of the old
Northwest Savings Bank. Charles
w. Morris was POSTMASTER, and in
brief remarks stressed the harmony
and friendship which had always
prevailed between the bank president
and the directors. AS token of
high regard, Mr.. Savage was pre-
scented with a golf outfit.
Mr.. Savage expressed keen appre-
citation of the good will. He referred
to the struggle of the directors in
establishing the Northwest Savings
Bank and to their success in building
up the banking service in that part of
the city. He then reviewed the
founding of the Central Savings Bank
OIL a profit-sharing basis similar to
that adopted by the mutual savings
banks in New England and by the
banks of the Brotherhood of Locomo-
tive Engineers. In concluding his re-
marks and explaining why he had re-
tired from the banking business, for
the present at least, Mr.. Savage said
THE recent passage Of the Nc
Fadden bill giving to the trust COM
panies and commercial banks the
same privileges possessed by the
savings banks apparently makes it
advisable here in Washington for a
purely savings bank to take on profit
able commercial business. At this
time I preferred not to continue as a
responsible and active head of a bank
doing a commercial business. All
these factors, together with our in
ability to find a man to head a larger
Institution of increased capital, caused
us to enter into a contract to sell
the bank to parties that had intended
organizing a national bank and trust
company. but later changed it to a
branch Of another bank"
Peoples Drug and Other Earnings.
Sales Of Peoples Drug Stores, Inc,
for June amounted to $65O,092, COM
pared with S4S5,5S4 during the same
month of last year, an increase of
$164,508, or 1888 per cent. Sales for
the first six months of 1927 amount
ed to $3.743.297, compared with ST.
S29,550 for the same period of last
year, an increase of $913,747. or 1929
per cent.
Sales of the chain store companies
for June. reported yesterday, show
gains over those for June, 1926. The
sales of the F. w. Woolworth Co.
:otaled $40, 405, $50, as against $19,O21,-
CSC for June, 1926, an increase of 7.2
per cent. The sales for the six
months reached $116.766.245, repre-
senting an increase Of $9,564.796, or
S.9 per cent for the period.
June sales of S. S. Kresge Co.
rose to S10,064,O47, from $8,834,38O in
June last yead. and for the half year
first half Of 1926.
Not prnff re Toau,,c Two fo. +l~1
40 weeks ended June S was $5,404,-
500, against s5,244,193 in the same
period of 1926. and for the IL weeks
ended June 5, $1.517,245, against ST..
634,245 year ago.
Dividends and Financial Notes.
The board of directors of the Wash
ington Loan & Trust Co. yesterday
afternoon declared the regular quar-
terly dividend of per cent, payable
on August 1 on stock of record on
July %.
Joshua Evans, jr., executive vice
president of the District National
Bank, has returned from a weeks va.
cation. which he passed with Mr.. and
Mrs. Anthony Wayne Cook, at Waly.
Iona. Cooksburgh, Pa. The Cooks
have a very large estate, much of
which is covered with virgin forest,
the State of Pennsylvania now nego.
tlating for its purchase for park pur-
poses. Mr.. Evans left his wife and
daughter for a longer visit.
Charles Carroll Morgan, manager
of the bond department of G. NJ. p.
Murphy & Co., is spending a few days
in New York, at the head office, also
combining pleasure with the visit.
f. P. Wilson, secretary of the Ma.
tional Savings & Trust Co., is taking
his annual vacation.
The local, delegates to the Detroit
convention of the American Institute
of Banking leave here Saturday eve.
ming on special Pullman car. They
Will stop over in Pittsburgh Sunday
as guests Of that chapter and reach
Detroit Monday. There are to be %
delegates from here.
The number Of holders of Southern
Railway is now the largest Of record,
totaling approximately 16,8O0 com.
pared with 1876 at time of annual
meeting last October, 14,315 at the
close of 1925, 14,726 at the end of
1924 and 1917 in 1923.