Evening star., 1927-11-28
|GAS BONDS SCORE
NEW HIGH MARKS
Both A and B Issues Strong
Today-Stocks Firm-NeW
Member on Exchange.
BY EDWARD C. STONE.

Washington Gas Light bonds fea-
tured the opening trading on the
Washington Stock Exchange today.
both the series A and series IS
reaching new high ground on the
present move.
Gas 6s, series A, opened with two
s2 600 sales and a 1000 sale at 107,
the best price reached this year.
The next sale was $500 turnover
at 1864, followed by the sale OF
500 bond at 1918. a fractional gain
over the quotation on the larger issue.
The Gas 3 bond came out at l01A2
in three $500 transactions, the price
being a half-point higher than these
bonds have previously recorded. Inere
was also a sale of baby bond at
the same quotation, this being most
unusual as the larger denominations
practically always command nigner
prices.
The light trading in stocks was
equally interesting. Potomac Electric
Power 6 per cent preferred was strong
at 112h, while the 5h per cent issue
appeared on the board at 1865. Wash.
ington Railway & Electric preferred
sold to the extent of five shares at
1874 and 25 sheres at 100
Twelve shares of Capital Traction
stock changed hands at 1922 and ~
shares of Columbia Sand d GraVei
preferred registered 1O3.
Joins Murphy Brokerage Staff.
r. Jackson Enrich, for several
wears treasurer and prominently con-
aected with the investment department
of the Merchants Bank & Trust Co,
has been elected to membership In the
Washington Stock Exchange. taking
the seat formerly held by John X:
- In INT
Bank.
It was announced today that Mr..
Enrich has resigned his position with
te Merchants Bank & Trust Co. and
Joined the Washington staff Of G. M.
2. Murphy & Co. He assumed his
new duties today, being located in the
brogerage firms uptown office at Con-
necticut avenue and K street. AS ne
is associated with the investment de-
partment he will take charge Of the
firms business on the local exchange.
Mr.. Enrich has been closely identi
fed with the banking business here
for the past Is years. Before going
to the Merchants he was with the
Commercial National for some years.
Railroad Reports Out Today.
Earnings Of the Baltimore & Ohio
for October were smaller than year
ago, gross declining s2,427.130 to
$21 1,952.261 and net operating income
to $4597,950 from s5,611,557. Net
operating income for 10 months Of the
year was $40 o,902.564, against $43, 49,
271 in the corresponding 1925 period.
October net operating income of the
Southern Railway system was S4,-
$50. .459. against $4,664,730, a year ago,
and for 10 months this year, $780,
507. against $39, ,694 1893 in the same
oF
s658,222 less than in October, 1926.
Local Clearings Above Last Year.
Bank clearings in Washington for
the week ending November "a were
below the previous week. being $22,-
$4,000, against s28.011,000 for the
week ending on November II. They
were, however, l per cent ahead of
the clearings for the same week is
1926. The Thanksgiving holiday is
the reason for the slump over the
previous week. Clearings for the
country as a whole fell off for the
same reason.
Bank Association Head Returns.
w. w. Spaid. president of the Dis
trict Bankers Association, returned
to his desk at w. B. Hibbs & Co. today
after week spent in Boston and New
4OTh. ne NEW LuSIdIu 6kOup
meeting of the out-of-town section Of
the Association of Stock Exchange
Firms proved unusually interesting.
AS chairman Of the committee in
charge of these meetings. Mr.. Spaid
presides at the sessions.
Declares Farmers Are Efficient.
Charles J. Brand of this city, an
official in the National Fertilizer AS
sociation and formerly chief Of the
United States Bureau Of Markets. de-
clared in Chicago today that farmers
are efficient in spite of the criticism
against them.
In pointing to several measuring
sticks of rural efficiency, Brand said
that in 1880 less than 90 crop acres
per farm worker were utilized. but the
average farm worker now cultivates
33 acres.
1--WE used to think it remarkable
performance when one hen produced
$50 eggs year; now many individuals
produce over 800 in a year, and whole
fiocks average over 200"
He pointed out that since 1890 farm
ers have increased their yield Of
wheat by II per cent, oats by IA per
cent and potatoes by SO per cent.