Evening star., 1927-11-07
NEW HIGH LEVELS
ON LOCAL BOARD
Pepco and Washington Gas
Issues Gain-Treasury
Financing Announced.
BY EDWARD C. STONE.

Stocks and bonds were strong in
broad trading on the Washington
Stock Exchange today. Potomac
Electric Power 5h per cent preferred
made a ne WHICH when it sold at
I071s. Washington Gas also entered
new high ground, opening at S23s and
advancing to S212, the days turnover
being 1876 shares.
Capital Traction opened the week NJ
1N7%, reached 1885 and closed at
1OS flat. Columbia Sand e Gravel was
active selling at 1912, 1924, lo21s'
and closing at 102. Sanitary Grocery
preferred came out at 1922 and Mer-
chants Transfer e Storage preferred
at 1037s. closing at 104.
Woodward & Lothrop. which Is so
closely held that it rarely appears on
the local board sold today at 100 on
a transfer of 35 shares. Two bank
stocks changed hands-Union Trust,
selling at 300, and two shares OF RIGGS
National at 494.
There was an unusually large
amount Of trading in the Washington
Gas bond issues, recent price Levels
prevailing. AS the New York Stock
Exchange will be closed tomorrow on
account of the election, it was voted
not to open the doors of the Wash
ingtOn Exchange.
Fifty Years With Same Firm.
Henry Fl. Bergmann, secretary of
the American Fire Insurance Co., 511
Seventh street northwest, has just
rounded out half century of con-
tinuous service with that company.
For As years he has held his present
position as secretary. A few days
ago his associates took official notice
of his unusual contribution to the sue
cess of the company.
Mr.. Bergman was born in Wash
ington in 1854, so that he is now 73
years old. He looks much younger
being in excellent health and remark
ably active. He attended school at
Emerson Institute under tutorship of
Prof. Charles B. Young, founder and
principal of the school for over 80
years. AS a young man Mr.. Berg
mann also studied in Germany. His
first position in Washington was in
an architects office and on Novem-
ber l. 1877, he entered the employ of
the German-Amarican Insurance Co.,
which took its present name in 1898.
quiet. refined and retiring in man.
ner, it is difficult to get Mr.. Bergman
to dwell on the high spots in his long
brilliant insurance man. He stands
high in the Masonic fraternity and had
always taken special interest in the
work of several civic associations
When congratulated on his splendid
record. his only reply was that he
hoped he would continue to merit the
great confidence placed in him.
Treasury Financing Plans Out.
Secretary Mellon has announced the
Treasury's November financing pro-
gram in the form of an offering of
seVen-month 3ls per cent certificates
of Indebtedness in the amount Of
S400, 100000. The certificates will be
dated November Is, and mature on
June Is, 1928.
The Treasury will accept in payment
4 per cent and 4A per cent bonds of
the second Liberty loan, which are
called for redemption November Is
next.
The rate on the new Treasury GER
tificates represents a slight stiffening
from the last previous short-term
financing by the Government. The
six months certificates issued in
September carried a fiat 3 per cent
rate. The March issues of certificates
carried 31s per cent for the six months
issue and 3H per cent for the one-year
issue. The oddmonth maturity of the
new issue is necessitated by the fact
that the second Liberty loan natures
in November rather than on a regular
quarterly income tax installment date
at which time Treasury usually
finances.
The amount of the new offering in
dicates that relatively small redemp-
oF 7
is expected by the Treasury. There
are now outstanding approximately
$500. 100000 Of Second Liberty bonds.
both 4 and Az per cent.
Life Insurance Offices Unharmed.
General Manager William G.. Worth
ington Of the Washington office of the
National Life Insurance Co, which
has its headquarters in Montpelier,
VT, received advices today stating
that all the officers and employees of the
company are safe and that no DANA ge
to the home office building was done
by the flood.
This was the first news received
here from the head office since the
flood shut Montpelier off from the
outside world. Considerable anxiety
had been felt in Washington over
J..
The company has a large number of
policyholders here. and several Wash
ingtonians are personally acquainted
with the officials who live in Mont.
pelier.
Peoples Drug Sales Increasing.
Sales of Peoples Drug Store. Inc.
have just been reported for October.
when they totaled S731,436, compared
with $584,4S1 in October. 1926, an in
crease of $146,955. or 25.1 per cent.
For the first 10 months of 1927 sales
reached S6,493,151 against S4,974,771
during the same period of 1926. This
is an increase of $1,51S,390, or a gain
of 305 per cent.
September operating income of the
American Telephone 4 Telegraph Co.
advanced to $3.421 1865, from $3,151,57S
in September last year, and for nine
months of 1927 to $30,102 800, from
$27,112.097. September gross revenues
were $S,416,S6S. against $7,692,591 a
year ago.
Sales of r. w. Woolworth Co. for
October crossed the S25.000,O00 mark
the first time for that month, reach
ing S26,031,738, compared with S24,-
S02, 1875 in october last year. The total
for 10 months Of 1927 rose to $205,-
11S,179, from S9,756.515 in the cor.
L.,