Evening star., 1927-10-25
PEPC0 PFD. 51-2S
REACH NEW PEAK
Advance to 106 IL in Trad
ing on Local Exchange.
Bank Shares Move.
BY EDWARD C. STONE.

IOLOHldC EleClTlC EOWeE OI2 per
cent preferred proved the most inter-
esting stock on the Washington Ex-
change today when it reached a new
peak for the year. closing at 1869
The stock opened at 1864, the next
two sales taking place at 1865. The
days turnover was As shares.
Capital Traction came back a quarter
of a point from yesterdays close, 13
shares selling at 1854. Mergenthaler
was strong today, % shares changing
hands at 1872. FederalAmerican
Co. preferred scored q new high, on a
transfer of 10 shares at 1011a.
Woodward & Lothrop preferred, in
which there had been but five shares
sold since the stock was listed on the
local board, appeared today, two sales
totaling 55 shares taking place at
109, the same as the last quotation.
Washington Railway & Electric pre-
ferred led the market in volume of
sales, 100 shares figuring in one trans
action at 100.
Commercial National sold at 269,
while American Security & Trust
moved at 463 and 462. Columbia
Sand & Gravel registered 102A, and
so shares of National Mortgage & In
vestment preferred came out at 7.
shares of Departmental Bank stock
sold in the unlisted department at 8.
Loans and Discounts Increase.
The Federal Reserve Boards condi-
ton statement of $50 reporting banks
in leading cities as of October 19
shows increases of SIT 100000 in loans
and discounts, SIG 100000 in invest
ments and $40,000.000 in net demand
deposits and declines of SS5,000,00 in
government deposits and $16,000.OO0
in borrowings from the Federal Re-
serve banks.
Loans on stocks and bonds, includ-
ing United States Government obliga-
tions, were S2S000,000 above the pre-
ceding weeks total the principal in
creases being SIG, 100000 in the New
York district and S14,000,000 in the
Chicago district
While net demand deposits were
$40 900 900 above the previous week,
they were lower at Richmond. At
,anta and several other reserve banks.
c. & o. Earnings Above Last Year.
September earnings of the Chesa-
peake & Ohio were larger than a year
ago, surplus after charges rising to
$3,354, 762 from S2,969, 1888, and for the
nine months of 1927 to $23,032. .097
from $20,494,057. September gross
revenues were $12,146,06S against
11,903,165 in September, 1926.
The report filed with the Interstate
Commerce Commission today showed
net income for the nine months after
all charges of $23,O32,097, an increase
of $2,53S,04 compared with the cor
responding period in 1926.
Burbank Joins Maryland Firm.
Robert d. Burbank of Washington
is one of the incorporators Of the
Maryland Paper Mills, Inc, which
has been organized under the laws of
Maryland for the manufacture or
wood fiber paper and paper bags. The
plant will be located at Glenburnie,
where a tract of 38 acres has been
acquired. The company will have an
authorized capital of s2,0O0,000. The
company will be headed by William
w. Ormsbee. formerly general man.
ager of the Continental Bag & Paper
Co.. Ltd. of Canada.
Piggy May Sell More Stores.
The New York Herald Tribune says
today that the Piggy Wiggly Cor
poration Is negotiating to sell the
greater part Of it's stores, 400 of it's $50
stores throughout the country having
been disposed of in recent months.
The directors.Afs. said to contemplate
keeping only one or two concentrated
units. 1t is likely all stores to be
disposed of will be accounted for
shortly. The company collects a royal.
ty of " Of l per cent on all sales
of Piggly Wiggly stores.
1t will be recalled that 49 Of these
stores in Washington and vicinity
were sold a few weeks ago to the
Sanitary Grocery Co.. and are being
operated as auxiliaries to that com.
pany.
Banker to Talk Over Radio.
M. ID. Rosenberg, president of the
Bank of Commerce & Savings, will
give a series of three talks on the
radio from station WMAL, commenc-
ing tonight at 9 o'clock. The others
will follow on Wednesday and Thurs
day nights at the same hour. 1t is
expected that Mr.. Rosenbergs talk
Will embrace the history and theory of
banking in general, the loaning ele-
ments of banking institutions. and
probably particularize upon CONNER.
clal and savings accounts. The fact
that Mr.. Rosenberg has been
practicing lawyer as well as banker