Evening star., 1927-11-09

MYERS as "StabiliZatiOn of the money
market through wise banking leglsla-
tion, gradual stabilization OF produc-
ton through the dissemination or
statistics and other lawful activities
of trade organizations; the simpll1lca-
ton and standardization of production
and products, and the Introduction OF
new wealth-producing activities faster
than the old ones are depleted or
reach the saturation point"
These considerations and many
more" he asserted, point clearly 10
an indefinite prolongation. with only
minor and temporary recesslons, OF
the unprecedented prosperity which
we now enjoy"
Finds Farmers Less Fortunate.
The farmer, however, appears to be
Il black cloud on Commissioner Myers
picture of prosperity. for he said:
1T is unfortunate that the farmer
has not shared directl. in the develop
ment of such great wealth producers
as the electric power plant, the motor
car, the motion picture and the radio.
But it is inevitable that the farmer
will be rescued from his present plight
for the compelling reason that the
country is dependent upon him for its
sustenance. Whether it be by pro-
vision for dispOsing Of surplus crops
or by improving methods of market
ing, or the development Of inland
waterways, or by all of these eX-
pedients, the agriculture of the coun-
try will he rehabilitated and your
markets will be restored.
at is the policy of the Federal
Trade Commission" he declared "to
encourage government in indus
try and to avoid superimpOsed gov
ernmental regulation whenever pos
sible, because it realizes that those
who are best acquainted with the Pc
culiar problems of an industry are
best equipped to govern it. To date
the commission has held 25 success
full trade practice conferences, which
have resulted in the adoption of codes
of fair practice in as many industries" F"
Club Savings Total 100000
1t is reported that the 26 banks in
Washington maintaining Christmas
clubs will mail checks totaling Sc ,000,-
600 to 7S,145 members on December
/. This is a gain of $455,033 over
last year and also an increase of COLT
in the number of Washingtonian who
adopted this method of saving money
at the beginning of the present year.
Releasing of such 4 large sum of
Christmas holiday trade will be a
tremendous help to local merchants.
Not all of these funds, however, will
be spent in the stores, as large sums
will be used to meet other pressing
financial obligations. Furthermore, the
advertising committee of the District
Bankers Association has found that
about % per cent Of the Christmas
club funds are put back into per-
manent savings In the banks.
The final payment by the club mem.
bers for this year will be due on No.
vember Is. The bankers advertising
committee is already making plans
for the usual combined advertising
campaign to boost the 1928 clubs.
which are practically certain to have
more members and a still larger sav.
ings total than this year.
Local Securities Firm Today.
The Washington Stock Exchange
had busy session today. Washing
ton Railway & Electric preferred sold
at par to the extent of 108 shares.
Today's bid on the common stock was
400 with 440 asked. but none was Of
fered. Capital Traction sold at 108
on a 40-share turnover.
Potomac Electric 51a per cent pre-
ferred opened at 107 and later ad-
vanced to 107s, closing back at 107.
Trading in this issue amounted to 115
shares. A 2-share lot Of Washington
Gas Light stock changed hands at SO.
One share of Peoples Drug Stores
came out at 118. One share of SAM
tary Grocery preferred sold at 102 1a,
followed by 50-share sale at 102A.
There were several small sales in
American Security & Trust Co. stock.
the price ranging between 450la and
452. Columbia Sand & Gravel moved
at 102, and 100 shares of National
Mortgage & Investment preferred
changed hands at 61s.
Washington Gas 5s opened at 1O2&
and closed at 103h. Capital Traction
SIS came out at 102A and closed at
103. A $4,000 turnover in Railway &
Electric as took place at 89A.
Coast Line Asks Bond Rights.
The Interstate Commerce Commits.
sion reported today that the Atlantic
Coast Line has asked permission to
issue and hold in it's treasury $74,096,-
600 4 per cent gold bonds. The rail-
road does not propose to sell the bonds
at once. but desires to capitalize the
expenditures made by it since 1914 out
Of earnings on improvements to the
system.
Hardware Buying Holding. Up.
Consistent buying activity is report
ed from important hardware market
centers. comparing favorably with the
levels recorded for the same period of
last year. Hardware Age will say to-
morrow in it's weekly hardware mar
ket summary: The outlook at this
time would indicate very favorable
conditions for the balance Of the year
and for some months to come. EN-.
ployment and wages are at a high
level, while money rates are very low.
Financial District Notes.
Walter j. Harrison. vice president
Of the Commercial National Bank. Is
taking his vacation. He Is now at
Leesburg, where he has some farm
interests.
When last heard from by friends,
President Robert N. Harper of the
District National Bank was in Los
Angeles. He Is most enthusiastic over
his trip.
Assistant Attorney General William
]. Donovan has left Washington for
Cincinnati. where he will be one Of
the chief speakers before the Asso.
ciated Stock Exchanges convention.