Evening star., 1927-09-15
NEW HIGH RECORDS
5 ON EXCHANGE HERE
Continental Trust and W. R.
&c. Co. Preferred Reach
1927 Tops.
BY EDWARD c. STONE.

BY EDWARD G. STONE.
! There was a lull in bank stock buy
| ing on the Washington Stock EX-
! change today, but Continental Trust
| by a fractional gain reached another
new 1927 peak, 12913. or an advance
of Az points since last weeks close.
Washington Railway Il Electric pre-
ferred also reached a new high, open
| ing at 94H and closing at 94as. Poto-
mac Electric per cent preferred came
out at 1922, while the 512 per cent
stock sold at 1925 and 1929. Wash
| ington Gas Light made a fractional
gain during the session, closing at
773s.
| Federal American Co. preferred ap-
| peared on the board at 1011, and 100
shares of National Mortgage & Invest
ment preferred sold at ia. After call
| interest swung to the bond list. Wash
! ington Gas 6s, series A, were Sti onE
at 1041s and 81, 900 transfer in the
series b bonds took place at 105.
Capital Traction 5s changed hands
at 1021a Barber Il Ross E61as sold at
81. and Washington Railway & Elcc-
| trio 4S figured in the days final sales
| at Sc. The books are now closed on
I
thaler is being quoted eX dividend.
Potomac Has Exhibit at Fair.
The Potomac Savings Bank is con-
Quoting a banking exhibit this week
at the HairfaX Fair. Safe deposit boxes
| are on display, the method by which
! they are operated being explained by
| an attendant; regular, vacation and
| Christmas savings plans are featured;
y,l n IN h0
value of opening new accounts is also
given special stress. The advantages
of combination checking and saw
| ings account are brought to the front
and one of the modern machines used
| in bookkeeping attracts much atten-
| ton from those with a mechanical
| turn of mind.
| The novel exhibition is in charge of
f. T. Burdette. who handles the
Georgetown banks advertising. 1t is
one of the first exhibits of the kind
made at county fair anywhere in
the country, reference to the files of
| the National Advertisers Association
revealing that such scheme has rare
| ly been tried.
Firm Opens Securities Department.
Waggaman & Brawner, Inc, today
announce the opening of a securities
department under the management of
| Thomas c. Montgomery. and Frank
3. Pryor, with offices in their building
at 1900 I street. They have cstab.
lished New York connections and will
deal in bonds and stocks listed on the
New York Stock Exchange, also in
local securities, having membership in
the Washington Stock Exchange.
| The firm of Waggaman 4 BraWner,
al lyrA Eox. f~,
years in the real estate and mortgage
| ner, president; Floyd Z. Waggaman
and Ennalls Waggaman, vice presi-
dents: w. r. Burnside, secretary and
treasurer Mr.. Brawner is a vice presi.
dent and a director of the Lincoln Ma
tiona Bank and the City & Subur-
| ban Mortgage Co., a director of the
| Firemen's Insurance CO., and a mem
| Der of the Washington Stock EX-
| change.
| Messrs. Montgomery and Pryor
have been for the past four years as
sociated with the Real Estate Mort
gage 4 Guaranty Corporation.
Fifth District Treasury Allotments.
Secretary Mellon has announced the
| detail figures of the cash subscriptions
of 312 per cent Treasury notes and 3
| per cent Treasury certificates of in
debtedness. Cash subscriptions for
! the offering of Treasury notes aggre-
| gated 81 ,093, $50 and the total of
such cash subscriptions allotted was
| $3.50, ,522 800. Subscriptions for 3 per
cent certificates Of Indebtedness aggre-
gated 1851, 100000 and the total of
such subscriptions allotted was $780,
577,50O.
In the local fifth district the Rich
mond Federal Reserve Bank received
total subscriptions for the 313 per
cent Treasury notes Of $42 ,S99, $50.
The Treasury allotted the sum of
| S10.103,500. For the offering of 8 per
| cent certificates of Indebtedness, the
fifth district subscriptions reached
S25402 900 and the sum of $11 $50 500
was allowed.
Recent Rulings by the I. C. C.
The Philadelphia. Baltimore &
Washington Railroad Co. has been au-
thorized by the Interstate Commerce
Commission to issue $3,S22 900 of gen
eral mortgage Az per cent bonds and
to deliver them to the Pennsylvania
Railroad at par in partial reimburse
ment for certain expenditures for addi-
advances. The Pennsylvania Railroad
was given permission to guarantee the
issue.
The commission has authorized the
New York, New Haven & Hartford
Railroad to issue $49, 9,O36, 200 of cumu-
latlve z per cent preferred stock, con-
sisting of 490,367 shares of the par
value of 800 each. This stock is to be
sold at not less than par and the pro-
ceeds used to reduce the roads in
debtecness to the Government, which
amounts to $87,000,000.
The number Of local bankers who
are planning to attend the coming
convention of the American Bankers
Association at Houston, Tex, is grow
ing steadily. Among those now ex-
pecting to attend the sessions are
Howard Moran, last years president
of the District Bankers Association
and vice president of the American
Security & Trust Co.; Ezra Gould,
president of the Washington
Mechanics Savings Bank; Francis G.
Addison, vice president of the Security
Savings & Commercial Bank; Lanier
=. McLachlen. head Of the McLachlen
Banking Corporation; George o.
Watson. president of the Liberty Ma
tional Bank; Maurice Otterback, presi-
dent, Anacostia Bank; Victor B.
Deyber. president, Second National.
and Harry V. Haynes, president.
Farmers & Mechanics Bank and
chairman of the Washington Clearing
House Association.
Personal and Other Notes.
Lawrence A. Slaughter, vice presi-
dent of the Commercial National
Bank, has been back at his desk for
several days after returning from his
annual vacation passed at Saranac
Lake.
Corcoran Thorn, vice president of
the American Security and Trust Co,
IL han in 10. Gxr<,