Evening star., 1927-11-11
CAPITAL TRACTION
SCORES ADVANCE
Feature of Local Trading.
Sanitary Grocery Leader
in Dealings Volume.
BY EDWARD G. STONE.

By EDWARD c. STONE.
Capital Traction continued its up
ward trend today and furnished the
most interesting feature of trading on
the Washington Stock Exchange. The
stock opened at 10S II, up a half point
from the last sale. -Four more sales
were then recorded at l085s and in
volving 25 shares.
Trading was heaviest in Sanitary
Grocery preferred. the stock opening
at 1921 for a 10-share lot and clos
ing at 1924 on a 50-share transfer. Po.
tomac Electric Power 6 per cent stock
moved at 11f5s, while one share of the
o12 issue sold at 101H II.
Both type stocks were out, Mergen-
thaler Linotype selling at 1922 and
Lanston Monotype at 104. Columbia
Sand and Gravel registered 102.
Eighty shares of National Mortgage
and Investment preferred changed
hands at 61A
Washington Railway General 6s
sold at 104, Washington Gas 6s, series
\, at 1O3. and Potomac Electric Con-
solidated 5s at 1929. The days mar
ket closed with 430 bid on Washing.
ton Railway Electric common and
440 asked. But there were no trans
actions iii this or the preferred.
Finds st. Louis Business SpOtty.
George 3. Chipman. resident part
ncr of Hartman & Co., has returned
from a business trip. to st. Louis,
where he found the present business
situation decidedly spotty. The whole
sale houses are complaining bitterly
about the d-to-mouth buying policy
which has become so popular with re-
tail merchants during the past two or
three years. Under prevailing condi.
tions the wholesale firms are kept con-
stantly at sea regarding the probable
size Of future orders.
Manufacturers in the st. Louis area
are meeting the same difficulty. Ii
they run full time, they have no way
of knowing whether there will be q de.
mand for all their goods or whether
they will become greatly Overstocked.
The business men with whom Mr..
Chipman talked could offer no solu-
ton to clear up this condition OF com
mercial uneasiness.
Sanitary Bond Issue Sold.
Howard Duckett, chairman Of the
Washington Suburban Sanitary Com
mission, reports the sale Of $25O,O00
Az per cent, series Q, sanitary bonds
to the firm Of Wheddee, Jenkins & Poe
Of Baltimore, their bid being 1O5.6l9.
The bonds are dated November /, 1877,
to run for so years.
The new issue is to be marketed by
the above firm associated with FRANK,
Rosenburg & Co., also Of Baltimore.
The bonds are guaranteed by Mont
gomery and Prince Georges Counties
in Maryland The funds derived from
the bond sale will be used by the COM
mission in the construction OF water
mains and sewers.
Klein Reports Trade Expansion.
Growth of transpacific traffic is
the outstanding feature Of our post
war commerce." said julius Klein, di.
rector of the United States Bureau OF
Foreign Commerce, at Seattle yester'
dav. Before the World War our com.
merce, both export and import, with
these lands from New Zealand to ia.
nan and westward to India totaled
$462 ,OO0, 900. This represented slight.
ly less than IL per cent OF our totai
imports and little less than per cent
of our total exports. Last year we
did a business Of $2,215 100000 with
the Orient. of which 81, ,443 .OOO, 900 rep
resented imports and $772,00O,O00 ex'
ports.
''In no other part of the world have
we made such rapid advances In de-
yelopment of both import and export
trade as we have with countries Of the
Far East"
Company Expands Service.
Local stockholders in the Merchants
and Miners Transportation Co. Will
be interested in today's announcement
that the concern Is to start q new
passenger service between Baltimore
and Miami on November %. Every
Tuesday one of the company's steam
ers will sail from Baltimore to jack
sonville and after discharging freight
and passengers go on to Miami.
Hitherto the only passenger service
to Miami has been from Philadelphia.
Note Circulation Shows Gains.
An increase in currency demand in
the fifth district was shown by rise
in Federal Reserve notes in circulation
$72,753. 900 the week before. Member
bank reserve deposits at the same time
decreased $1.0930O0 to $74,918,000.
There was but little variation from
the previous week In volume of bill
holdings. Rediscounts stood at $23,.
301 900, decline Of S65S,000. Accept
ances bought in the open market
amounted to SAT 1853 900, q high figure
| compared with previous years, but
only u slight increase over the pre-.
ViOuS week.
The reserve ratio was 51.32 per cent,
an increase of 1.18 per cent in a week.
The ratio Of the system as whole
was 1871 per cent.
Convention Ends This Evening.
The convention Of Associated Stock
Exchanges in Cincinnati will close to.
night with banquet. Officers are to
be elected late this afternoon.
The routine work of the convention
has centered i'll committee reports on
taxation, membership, changes in the
constitution and uniform listing re-
quirements. One Of the most impor-
tant addresses was on 1.-The Prepara-
ton and Issuance of Financial State
ments." Another important address
was by William J. Donovan Of Wash
ington, Assistant Attorney General.
Issue Three Times Oversubscribed.
The latest Treasury Offering Of
seven.month certificates at 3k per
cent has been oversubscribed nearly
three times. it was announced last
night by Secretary Mellon.
Reports received from the IL Fed
eral Reserve banks show that for the
offering. which was for $4OO, 900 900 or
thereabouts. total subscriptions aggre.
gate some $1,100 100000.
OF these subscriptions, about $780,
600 represent subscriptions for which
second Liberty Loan As and AIS were
rendered in payment, all of which were
allotted in full.
Heard In Financial District.