Evening star., 1927-10-20
STOCKS HOLD FIRM
. ON EXCHANGE HERE
List Looks Pegged as Good
Prices Are Maintained, but
Gains Are Absent.
BY EDWARD C. STONE.

Stocks on the Washington Stock
''pegged' in today's trading, the lead
ers holding their recent strong prices.
but falling to enter new high ground.
Capital Traction. which has been
the leading topic Of conversation in
the financial district so far this week
because Of its sudden ard unexpected
squirt to 112 on Tuesday, opened today
at III. the same quotation at which
1t closed yesterday. Following this
10-share sale the stock dropped after
call to 110k. and closing at 10. the
days sales being but 30 shares.
Potomac Electric Power per cent
preferred again sold at its high for the
year. 112, and the same company's
51a preferred was strong at 1865.
Washington Railway & Electric once
more moved at 99h. Fifty shares of
Barber Ross came out at 361z. and
Merchants Transfer & Storage pre-
ferred equaled it's recent high mark
of 1037s. Sanitary Grocery was
strong at 102A.
Twenty shares of Mergenthaler sold
today at 112k. But one bank stock
appeared on the board, 10 shares of
Riggs National selling at SOB. In the
bond division Barber & Ross 612s
opened at 81 and closed at 96E. sales
totaling $4,000. Potomac Electric Con-
solidated 5s brought 103. Washington
Gas SIS, 1921, and Railway & Electric
As. 8812.
New Investment Trust Formed.
ROlfe Z. Boiling, vice president of
the Merchants Bank & Trust Co. of
this city, has been elected president
of new investment trust organiza.
ton to be known as the Investment
Corporation of North America, which
Will open for business here with Offices
in the Woodward Building William
w Bride, corporation counsel of the
District. was elected vice president,
and Ralph D. Quinter, referee in bank,
ruptcy. treasurer.
The above officers and the follow
ing make UP the board Of directors:
Philip De Ronde, director Empire
Trust Co.. New York; George A. Gar.
rett. resident partner Of r. B. Keech
Co.: Allyn S. Goulden, partner in
A. S. Goulden & Co. of Baltimore and
Washington. and Rowland G.. Ring
gold of Sharpe & Dohme, Baltimore.
Ellis. Harrison, Ferguson q Gary Is
the new firms counsel
The corporation, organized under
the laws of Delaware, will sell par
ticipating shares in stock units com.
posed Of one share each Of 98 COM
mon stocks, according to plans Just
announced. The firm proposes to buy
only, shares listed on the New York
Stock Exchange. The company pro-
poses to operate along the lines of the
large number of other similar con-
Germs which have been organized all
over the country during the past few
hn
November /.
Gas Earnings Show Expansion.
Officials Of the Washington Gas
Light Co. are greatly interested in
the reports from the recent meeting
of the American Gas Association in
Chicago. These reports state that the
most significant trend Of the past year
In the industry has been the rapid
growth of gas for house heating.
1t was reported at the meeting that
more than 100000 homes are now us.
ing manufactured gas as fuel for heat.
ing, while there are more than 1,300,.
600 homes using natural gas. At the
meeting 1856 manufactured gas COM
panies~ reported house heating install
lation, as compared to IL year ago,
and In addition more than so other
companies are about to merchandise
this use of gas.
Wholesale Prices Advance.
Wholesale prices on all commodities
included in the United States Bureau
Of Labor statistics index showed an
average increase of 1.3 per cent from
August Is to September Is, bringing
index number to 96.5 per cent based on
bureaus new standard of 1926 as 100.
fy~nyr oT
1922 in August to 1859 in September,
due to advances in hogs, calves, beef
steers, alfalfa hay, cotton, eggs and
lemons. Small price increases were
shown for barley, oats and rye, while
corn and wheat declined sharply.
AS to retail food prices, the bureau
also announces an increase of so per
cent since 1913 was registered. The
retail food index number on September
Is registered 154. against 1924 a
month before and 1885 a year
previous.
Convention Delegates Start.
The Washington delegates to the
bankers convention at Houston leave
this afternoon for their first stop at
Atlanta tomorrow. The delegation in.
cludes Ezra Gould, Francis G. Addi.
son, jr.; Harry V. Haynes, Victor B.
Deyber, Maurice Otterback, Howard
Moran, A. NJ. Nevius, Robert N. Har.
per and F. G. Await, deputy controller
OF the currency. E.. E. Mountjoy,
Washington representative of the A. |
B. A., left here last night by another
route.
i During the convention a paper writ.
ten by Miss Mary j. Winfree, secre. |
tary of the Continental Trust Co., on
"A Woman's Will-Important Points |
on the Distribution of Her Property" |
will be presented before the Associa. |
ton or American Bank Women, which |
will be in session in Houston on Octo.
Der %. Miss Drueie Of the Central
Trust Co., New York, will read the
paper. Miss Winfree was chosen last |
Spring to represent the trust company
section of the District Bankers AS.
sociation at the Texas session, but will
not be present at the convention.