Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-06-23

preferred at 1919 Peoples Drug stores
preferred came out today at ITO Tor
the first time in some weeks. While
Merchants Transfer & Storage pre-
ferred registered par and 400 shares
Of National Mortgage & Investment
preferred sold at SA.
Two bank stocks appeared on the
board. five shares of Federal-American
National moving at 324 and II shares
of Riggs National at 480 and 10 more
at 479. The bond market was quiet.
with Washington Gas, Railway &
Electric and Capital Traction issues
selling at recent levels.
Metropolitan Votes Extra.
The directors Of the National Met
ropolitan Bank yesterday declared an
extra dividend Of l per cent, accord
ing to announcement by the presl'
dent, George w. White. The dis.
bursement is payable on July l, and
the book will be closed from June q
to that date.
The board Of directors of the United
States Securities Corporation have de-
clared a per cent quarterly dividend
on the companys preferred stock.
payable on July l to stockholders OF
record on June 26 This is the cor
Edwards is chairman of the board and
former Senator Nathaniel B. Dial
president.
At the regular meeting of the board
of directors of the First National
Bank of Hyattsville, c. ]. Parkinson
was elected cashier. Mr. Parkinson
was formerly connected with the Mum
sew Trust Co and the Commercial Ma
tional Bank in this city.
The Washington Savings Bank will
on July pay the regular semi-annual
dividend of per cent to stockholders
of record June 20, the directors having
voted the dividend at meeting yes
terday. officers of the institution are:
Thomas E. farrell, president; John ID.
Leonard, vice president and treasurer;
William E. Russell, vice president, and
Robert J. Earnshaw. assistant
treasurer.
Among Today's New Offerings.
P. w. Chapman & Co., Inc, are Of
fering at 80 and accrued interest, TO
yield about 6.63 per cent, new issue
of $4,000 first mortgage go per
cent sinking fund bonds OF West VIZ
ginia Gas Corporation. The bonds are
due June /, 1887. and each $1,000 bond
will carry a warrant emitting the
holder to purchase a unit OF 10 snares
of the common stock of the corpora
ton at S. share.
Edward B. Smith & Co. and other
bankers are today offering $a.OO0,00o
PENNSYLVANIA Glass Sand Corporation
first mortgage per cent gold bonds
nr,ced at 99la and accrued interest.
J. A. w. Iglehart & Co. IS one OF
the banking firms today Offering 9
new issue of S10,000.000 Federal
Water Service Corporation convertlbie
51s per cent debentures. priced at 96%
and accrued interest. to yield ABOUT
SIS per cent.
Insurance Gains in District.
The sales of ordinary life insurance
in the United States in May totaled
S752 .267, 900. according to the Life In.
surance Sales Research Bureau OF
Hartford. This is larger than any
previous May on record.
Sales of ordinary life insurance IN
the South Atlantic States show a sngnt
gain in May over the corresponding
month of last year. May sales in this
section totaied 500 .614 ,000-an increase
of 1 per cent over the sales OF May.
1926.
North Carolina leads this section in
it's substantial monthly gain OF ~ per
cent. The District of Columbia fol-
lows closely with an increase OF ~ per
cent. For the first five months or the
wear North Carolina indicates a gain
Of 10 per cent, leading the section IN
the year-to-date increase.
Resort Merchants Made Happy.
Announcement that Washington
again will be connected with Colonial
Beach by river steamers has brought
gladness to the hearts Of merchants at
the Virginia resort. The sale OF the
steamer ST. Johns to New York parties
and it's withdrawal from the Potomac
was a severe blow to Colonial Beach.
Merchants say that so far this year
fewer people have visited there than
freouented the place 35 years ago, al
though automobile visitors and nne
roads are giving the resort a real
boost. Resuming of the river service
from Washington is expected to re-
store the beach business to normaIcy.
The steamer Hampton Roads is to sue
coed the st. Johns, starting service
Saturday.
Liberty Bond Cash Offer Ends.
The Treasury has accepted propo-
sails to sell second Liberty bonds un-
der a recent cash offer, in the sum of
about SEA, 100000 face amount at an
average price for the 4A bonds of par
and fifteen and one-half thirty-seconds.
it is announced by Secretary Mellon.
According to reports received from
the Federal Reserve Banks about
ST., 000.0 face amount were rendered
for sale including $324,000 of the 4
per cent bonds. The balance not ac-
cepted were rejected because the price
oOrSidernd ovoocSiuo
In the case of offers which have
been accepted the bonds should be in
the hands of the Federal Reserve
Banks on or before June %, Secretary
Mellon announced. Payment in the
case of coupon bonds will be made on
June %, and in the case Of registered
bonds as soon thereafter as registra-
ton may be cleared. Books on the
cash offer closed last night.
Heard In Financial District.
A petition is being circulated among
members of the New York Stock EX
change for a holiday on Saturday.
July .. preceding Independence Day.
1t already has sol signatures The
Washington Exchange will be closed
anyway as 1t is closed every Saturday
during the Summer.
The directors of the Pennsylvania
Railroad will meet June 90. At next
weeks meeting action on dividends
payable at the close Of August Is ex-
pected to be taken.
The Interstate Commerce COMMITS
sion has placed a tentative valuation
of $3.O72. 500 on the Maryland & Penn.
sylvania Railroad as of June 80, 1918.
The Navy Department has awarded
the Pratt & Whitney Aircraft Co. of
Hartford, Conn.,, contract for 80
wasp type air-cooled engines at total
cost of 1917 .O87.
Woolworth (5).. 141N I41A l391a I40M
Worthn Pump dON dON 3qM 73M