Evening star., 1927-09-27
PEPCO PREFERRED
AT NEW 1927 TOPS
Both 5 1-2s and 6s Gain.
Bonds Are More Active
on Local Exchange.
by EDWARD c. STONE.

BY EDWARD c. STONE.
Potomac Electric Power issues fea'
tured trading on the Washington
stock Exchange today, when both the
51a per cent and the per cent stocks
entered new high ground.
Potomac 512 per cent preferred
opened at 1912 which was gain of
81 over the last sale yesterday. 1t
then climbed to 1043s, 1O4A and the
last sale was made at 1047s. During
the session there were 10 transactions
involving 101 shares.
Only two five-share lots were sold in
the per cent preferred issue, but the
price was HOS. a fractional gain over
yesterdays market.
Washington Gas Light, which was
one of the leaders yesterday, was
uuiet today, 13 shares selling at 1872.
Mergenthaler Linotype advanced to
112 on the sale of 20-share lot. Com
mercial National was the only bank
stock appearing on the board. so
shares moving at 271, a half point
higher than it has previously regis
tered this year.
Bonds were more active. Washing
ton Railway & Electric As sold at
s6ls. Il. 3s, 1A. closing at S6aa. Po-
tomac Electric First SIS brought 1011s
and Chesapeake & Potomac Telephone
SIS came out at 101. The market closed
with Washington Gas series B, $l00
bond selling at 103a4.
Dividend Voted; Directors Named.
The United States Securities Cor
poration, with offices in the Southern
Building, yesterday declared . per
cent dividend on the Company's pre-
ferred stock.
Two new directors were also added
to the board. Carville d. Benson, in
surance commissioner for the State
of Maryland, was chosen, the other
new member being Frederick l. Cox,
a former member of the Interstate
Commerce Commission, and now law
partner of c. Bascom Slemp.
B. & o. Net Drops: C. & o. Gains.
August net operating income of the
Baltimore & Ohio declined to So,177,-
ISL from $5,702.S56 in August, 1925,
and for the eight months of 1927 to
$31 1,419,156 from S32.175,601 in the
same period last year August gross
revenues were 1881, 1894 smaller than
year ago.
Gross earnings of the Chesapeake &
Ohio Railway Co. for August, which
were S12,334,826, are the largest on
record with the exception of October,
1926, when they were 2,641, 900. The
larger earnings in the laSt-named
month were brought about by the alb
normal demand for coal caused by sfe
British coal strike. Net income for
the eight months ended August 81,
1927, was $19.677,335, an increase of
S2,153,167 over the corresponding
eight months last year.
Fox Film and subsidiaries earned
S2.74 a share on the "a" and "B''
stocks in the first half Ct 1927.
Banks Open Saturday Night.
The group of local banks on Ninth
and Seventh streets and that vicinity.
which have been closed on Saturday
evenings during the Summer months.
will reopen next Saturday night. DC.
tober ].
An effort was made to keep these
banks closed on Saturday night the
year around, but failed when one bank
was unwilling to join the group. 1t
was felt by the other banks that ac.
ton of this kind should be unanimous.
1t is believed. however, that another
year will see the plan carried into et-
feet.
Retail Food Prices Working Lower.
The retail cost of food on August Is
was more than one-half of ! per cent
below the July Is level, about per
cent below the August Is, 1926, level
and 81 per cent higher than on August
Is, 1913, Bureau of Labor Statistics
reports. The bureaus index stood at
1924 for August, 1927: 1884 for July
and 1851 for August, 1926.
During the month from July 10 10
August Is, 1927. II articles on which
monthly prices were secured decreased.
largest decreases being for cabbage,
20 per cent; potatoes, 10 per cent; on
ions, IS per cent, and hams, rice.
sugar, hens and raisins, 8 per cent.
Seventeen articles increased, includ-
ing eggs, IA per cent; pork. per
cent; oranges, Z per cent, and canned
red salmon and flour, 2 per cent.
Exchange Seat Brings $SO.O00.
Members of the Washington Stock
Exchange were much interested In
seat sale the other day in San Fran
cisco, which brought $4,000. This
was a gain of $4,000 over the last
previous sale. The transaction places
seats on the San Francisco Exchange
far ahead of every other security
market in the country with the ex-
ception of the New York Stock Ex-
change.
The last seat on the Washington
Stock Exchange was sold for 81 500,
this being a considerable advance over
the price prevailing a year ago. 1t
was bought by William w. Mackall.
jr., manager of the local office of
Stein Bros. & Boyce.
Cities Service Earnings Grow.
Cities Service net earnings for the
II months ended August 81 amounted
to $29,779, ,307, which is the largest IL
months in the history of the company
and an increase of 3S per cent over
$21, ,509,S60 for the IL months ended
August 81, 1926.
Net earnings of the company for
August, 1927-the largest August
earnings for any month in the COM
pany's history-were 81, ,556 ,0S0, an in
crease of Al per cent over net earnings
for August 1926, which were 1,772,-
COG. Net to common stock and re-
serves for August was $1,765,2 ,283, COM
pared with S1,014,S27 in August, 1926.
Personal and Other Notes.
Arthur N. Mitchell, cashier Of the
Columbia National Bank, has returned
from Atlantic City, where he passed
his vacation. Mr. Mitchell reports
that many of the resorts largest ho-
tells are still filed with guests.
Jacob Scharf, vice president of the
Second National Bank, is taking
three-week vacation, part of which
he will spend on his farm at Rock.
vile.
The annual meeting of the stock.
holders of the Bank of Commerce and
Savings will be held next Thursday.
Building Permits Reveal Slump.