Evening star., 1927-11-08
NEW MARKET FIRM
SEEKING LISTING
Terminal Refrigeration and
Warehousing Corp. Applies
to Local Exchange.
By EDWARD C. STONE.

Exchange for the listing Of $l,000,000
Terminal Refrigerating Warehous
ing Corporation stock, having a par
value of $50 per share. This stock
will be exchanged share for share for
the present stock of the Washington
Market Co.
Advisability of changing the name
of the Washington Market Co. came
before the directors and stockholders
several months ago and the change
was later voted. The purpose of the
move was to give the company broad
er powers in carrying on its business.
Stock of the Washington Market Co
has been listed on the local stock ex-
change fer many years. During the
present year 124 shares have changed
hands to date, the last sale being
made at SOS. 1t pays per cent
dividend, so that at the present mar.
ket quotation the return is per cent.
Convention Opens Thursday.
Eugene E. Thompson, representing
the Washington Stock Exchange,
leaves here today for Cincinnati for
the second annual convention of the
Associated Stock Exchanges which
| opens there Thursday. Mr.. Thompson
also will give an address before a
convention of Ohio investment bankers.
One of the most prominent speakers
on the program of the stock ex-
| changes is Assistant Attorney General
| William j. DoHavan. The subject of
his address is not to be announced
until the convention.
Probably the most important COM
mittee report will relate to listing re-
quirements. This committee has made
an effort to standardize the rules and
make the requirements such that any
security listed on any Of the IL af-
| fiiiated exchanges will be known to be
in a sound condition.
Dewey on Poland Bank Board.
The Bank of Poland announces to-
day by cable from Warsaw the cleo
| ton of Charles S. Dewey, former AS
| sistant Secretary of the Treasury, as
the foreign member of its board of tli-
rectors. Mr.. Dewey was recently Sc.
| lected by the government of Poland
| as its financial adviser in the admin
! istration Of the stabili2ation loan of
| S72, 200, 900, 4 large part of which re-
Gently was floated in this country.
| The Polish legation announced that
Mr.. Dewey was elected to the board
on Saturday. The statutes of the
| bank had to be changed to permit
an additional member.
United Drug Co. in Merger.
1t is reported that the directors of
the United Drug Co. and of Sterling
Products Inc, are negotiating for q
merger of the two companies, the
| name of the proposed concern to be
United Sterling Co. Louis X. Lig-
gett, president of United Drug, will
be chairman of the board and A. H.
Diebold, treasurer of Sterling Prod
ucts, president.
The plan is said to involve the
issuance of three shares of new COM
mon for each share of United Drug
common and two shares of new COM
mon for each share of Sterling Prod
ucts. 1t Is intended that United
Drug shall handle the merchandising
and sales while Sterling Products
would handle the manufacturing and
distribution.
Z. s. Treasury Offering Popular.
The market appears we'll pleased
over the Treasury's offering and in
dications point to a possible over
subscription. The rate, 31s per cent,
cOincided with the market for a seven
month issue. The amount, however,
was somewhat smaller than generally
expected, in view of the volume of
second Liberty loan bonds still out
standing, some $3.50, 200, 900.
1t is believed that most of the sub
scriptions for the new issue will be
cash; in other words that the amount
Of second 4As and second As turned
in in exchange will be relatively
small. Remaining holders of second
liberty loan bonds sFare evidently not
of the class who would wish to con-
vert their funds into a short term
Treas Lfy issue.
Many are disposed to wait and get
cash for their bonds on November
10, when the issue natures.
Other Financial Notes.
While there was no trading in
Washington Railway 4 Electric COM
mon here or in New York yesterday,
its sensational leap to 460 in New
York Saturday was still being dis
| cussed in the local financial district
| today. When a broker was asked how
high he thought railway common
might go he replied: THAT is as much
of a mystery as when the traction
merger will actually take place; when
the NJ street bridge will be re-opencd
to traffic: or when Mayor Thompson
VIII end MS private war on England.
} President r. Golden Donaldson Ut
the Commercial National Bank has
returned from short visit to Hot
Springs. Va.
President Wade II. Cooper of the
Continental Trust Co. is back at his
desk from a. business trip to New
York.
Controller J. W. Mcintosh mas
reached home from trip which took
him as far West as the Pacific coast.
Tickers in all the local broker offic IS
were quiet today because of the cleo
ton in New York which caused the
closing Of Wall Street.
Trade Board Under Discussion.
Two much discussed public ques
tions-the control of crop surpluses
10 prevent bumper crop from bump
ing the farmer into bankruptcy, and
the Federal Trade Commissions pol
icy toward business-will be discus -:
during the annual southern conven-
ton Of the National Fertilizer Asso-
citation beginning at Atlanta tomo:
row and lasting through Wednesday.
Fertilizer manufacturers and agri
cultural workers from % States are
expected. according TO Charles J.
Brand, Washington. executive secre-
1 zs@As