Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-08-03
STOCKS co HIGHER
ON EXCHANGE HERE
Riggs Bank Shares Climb.
Bond Market Is Active in
Today's Trading.
RY EDWARD G. STONE.

BY EDWARD c. STONE.
Ten shares of Riggs National Bank
stock sold at $50 on the Washington
stock Exchange today, the highest
price reached in many weeks ana Il
sharp gain over last weeks closlaS
quotation of 4143t.
CAPITAL Traction was firm at 100 i
Potomac Electric Power per cent
| preferred came out at JOY. Will Tue
| II. per cent issue again Soid AT loi =
| There were two sales in Merchan nus
Transfer 4 Storage common, TINS
| stock scoring a new high FOR the year
and an advance of Z points OF the
last transaction. Thirty shares #
| peoples Drug Stores preferred came
| ont at 1885,. the stock now being eN
| dividend.
| The bond market was active, ope ~
| ING with Washington Gas 6s, series Is,
| selling at 1O4A. Two small sales IN
Inc series A issue took place at 1o2I.'
Washington Railway Electro ~
| sold at 1921. The closing sale was
in Barber & Ross 612s at 30.
Stocks Grip Local Attention.
Local board rooms were crowded At
the opening of the New YORK ,7tooN
Market this morning, TRADERS petiS
ger to see how the leaders opened
| following the announcement li1aoe NY
| President Coolidge yesterday.
Most issues opened much lower
than they had closed last night, ana
then gradually began to come BACK,
| General Motors, which closed at ~
last night, opened today around ZZZ'
dronped to 2211a, turned the corner
| and in a short time had climbed pach
to 227 o-o r.
BALDWIN closed last night at $50. III
onened today some points lower, put
| soon began to come back. uhl,eu
| States Steel, which closed yesterday
| at 1917, opened we'll below that inquire
today, but half an hour later hao
| nearly made up the early loss. Mar
| ket observers here commented on .ie
| fact that most of the stocks recorded
| in their first sale almost as sharp
breaks as they made. The majority
Of issues sold only fractionally lower
| before rallying. There was a decided
| let.,p in tension in the board rooms
after the first half hour.
Du Pont Steel Inquiry Explained.
Federal Trade Commission officials
insist that the inquiry into the report
ed financial relationships between Cen
eral Motors, di Pont de Nemours ana
United States Steel is intended as CON
structive. 1t is not based upon the
antitrust laws but upon the tact-nho-
ing section of the Federal Trade com
mission act.
Under the first paragraph OF Secllon
G of that act. the commission IL gwen
formation concerning, and to lnVesu-
~ate from time to time the organlZa.
ton business conduct, practice ana
p,anagement Of any corporations en-
papcd in commerce, excepting baihS
aud common carriers subject to the
ac, % regulate commerce ana us felh-
ton TO other corporations ana 10 iiioi'
yiduals. associations and partner
ships ,;ss;on
other angles which the commission
bcnos ia develop in the investigator
viii he the stockholdings of the respec-
tive CORPORATIONS: what Will De me
erect on the financial structure or the
country in general il a S4,ooo'ooo,oo'o
coruoration tie-up results; alohs "iei'
the consequences OF the cohceii', o. lo,'
of such power and credit In the hai'"e
of few.
u.ni. Construction Progresses.
Steam.shoyel excavation for lhe
Union Trust Co.'S addition has com,
menced. The building is belng raHeo /,
where the new branch OF the oecol, y.
National Bank will be erected, on "
| street. and the Improvements ana eA-
tensions being made by the security
| savings & Commercial Bank, at Nln'h
and CT streets, are Wen uiiuer ""'
| The foundation is nearly done ior ny
branch of the Farmers Il MecnaiiicS
| National. at TenleytoWn. ana II WI
NOT he manvAweeks before the Dig au
! a;tion 10 the Washington Loan ~
Trust co. is ready for occupancy. 20
| far as improved accommodations are
concerned. Washington banks seem
10 he keeping up with their STEADY
business growth.
Miss Royce Highly Honored.
Miss Mabel T. Royce of the Wash
! ington Loan & Trust Co. has beeh aP
nointed a member of the national Won,
nn's committee of the American lnsti'
| tute of Ranking, according to word re
| ceived here today from Secretary iticii
ard w. Hill. announcing president
| williams action.
| hODOrS any WOMAN iiiCIlibSi "
! incton Chapter has received. MISS
ROYCE is one of the most enthusiastic
chapter workers, and last year was
chairman Of the publicity committee
which carried off first prize at the re-
| cont Detroit convention for its efforts
in keeping the institute before the
| public. .. 70
Miss Royce is a charter member or
| the Washington Bank Women.s Cluo'
an organization of women holding re-
sponsible positions in local banks. she
also has completed with high rank
practically all the banking courses
| offered at the institute.
Heard In Financial District.
Executive Vice President Albert ).
| Galley Of the Lincoln National Bank
will leave Washington next Saturday
| for q months vacation in New Eng
| land. He will spend much OF the time
at Old Orchard Beach in Maine. Mr..
| Galley and his party also will motor