Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-02-18
PEOPLES DRUG COMMON PLACED
ON 81 ANNUAL DIVIDEND BASIS
Initial Quarterly Payment Of Is Gents a
Share Declared, Payable April / to
Holders of Record March 8.

S. shares changing hands. 1t opened
at 69K, dropped to % and closed at
69A. Capital Traction opened at
1861 and closed at 1868, the days
sales reaching but Is shares. Thirty
seven shares OF Washington Railway
& Electric preferred sold at 81 fiat.
The recently listed Bank Of Bethesda
stock came out at Al, Barber & Ross
common sold at 3S, and 100 shares of
National Mortgage & Investment pre-.
ferred registered Sls.
: Washington Gas 6s, series 3, came
out at 1047s and a 81 900 transfer of
Chesapeake & Potomac Telephone of
sVirginia SIS came out at 101.
New Offerings Announced.
Eastman, Dillon & Co. will shortly
offer 100000 10.year, convertible,
6 per cent sinking fund gold notes,
with stock purchase warrants attach
ed, Of Nichols & Shepard Company at
approximately 90. The company has
operated continuously for 79 years
and is one of the three largest manu-
facturers OF grain threshing and
reaping machinery in the world. The
notes are convertible until February
l, 1929, into 10 shares of per cent
cumulative preferred stock (par 5000
at 92, during the following two years
at "a and thereafter to maturity at SO.
A. S. Gouldman & Co., investment
bankers Of this city and Baltimore,
are participating in an offering today
Of 100000 shares of class A stock of
the Associated Gas & Electric Co.
The issue is priced at 40h, to yield
approximately 10 per cent, and is
Boston Stock Exchange
Simmons Pleases Bankers.
The address Of President L. Fl. II.
Simmons Of the New York Stool.
Exchange here last night, which is
reported elsewhere in The Star. was
greatly enjoyed by the large number
distinguished broker and banker
presented much new information in
regard to foreign and domestic secu-
rity offerings and the attitude which
other nations take toward them. He
has been a member of the New York
exchange q years.
Banquet to Draw Over 700.
1t was announced today by T. Hun
ton Leith and Chairman Joseph d.
Yerkes that there will be over 700
guests at the institute silver jubilee
banquet tomorrow evening at the
Willard. Guests will be here from
as far away as Chicago, the president
of that chapter planning to attend.
Several local banks have invited
many out town guests. The four
speakers on the program will not be
allowed over an hour each. accord
ing to POSTMASTER Frank J. Hogan.
Credit Demand Increases.
pickup in demand for reserve
bank credit is noticeable in the
weekly reports. Rediscounts at the
Richmond Bank increased during the
eek to the substantial extent of
S3,462.000. to $25, 900, yet the vol.
ume was low in comparison with a
period when credit demands are
heavy.
The ratio II reserves to combined
currency and domestic liabilities was
slightly lower at both Richmond and
in the combined system. The ratio of
the local market was 1927, against
1917 per cent, and of the II banks
combined 1874 against. 1915 per cent
the previous week.
Heard i'm Financial District.
The regular quarterly dividend of
S2.25 on American Telephone & Tele.
graph stock will be paid on April Is
to stockholders, of record March Is.
Sales of +. w. Woolworth Co. for
the first two weeks Of February were
close to $9,000,000, an increase of more
than S1.000,000 over the same period
last year. The gain for the two
weeks was we'll distributed over the
country.
Commissioner of Revenue Pryor G.
Ragland has filed notice in the Cor
poration Court of Danville, Va, that
he will move for the imposition of u
nf l,a WI, vi
Danville for it's alleged failure to com.
ply with sections II and % of the
new State tax law. The bank is
charged with failing to file a report
giving the names Of the stockholders,
with their holdings.