Evening star., 1927-09-16
TWO NEW STOCKS
ON D. c. EXCHANGE
Columbia Sand and Sanitary
Grocery Listed-Bank
Shares Still Rising.
BY EDWARD C. STONE.

BY EDWARD c. STONE.
Two new listings on the Washing
ton Stock Exchange were voted by
the board Of governors at today's ses.
sion. The fast-growing array Of inn
portant local issues now includes the
preferred stock of the Columbia Sand
& Gravel Co. and the preferred shares
of the Sanitary Grocery Co.
The board of governors placed on
the board 10,460 shares of the sand
and gravel company's Z per cent pre-
ferred, par value S100. The concern
also has an issue of common stock,
but this was not included in the ap-
plication for listing. The company was
organized in 1907, has large plant
in Georgetown and valuable proper
ties at various points on the Potomac
River.
The officers are Clyde B. Asher,
president: l.. L. Reeves, vice president
and general manager; G. L. Bonnet,
secretary and treasurer. The direct
ors include these officers. together with
Charles G.. Glover. G. L. Kingsbury,
George o. Watson, Charles j. Bell,
Robert V. Fleming, A. G. Moses, l..
S. Ulman and r. ]. Whiteford.
26,5OO Shares of Grocery Stock.
lie sanitary dIOCcIy W. IlStlilS III
cluded 26.500 shares Of 6h per cent
cumulative preferred par value $780,
The stock is selling over the counter
in New York around 102, while the
common is selling on the New York
Curb at 235.
The officers are Edward G. Yonker,
president and treasurer; Harry Hos
kinson, vice president and assistant
secretary: G.. M. Meyer of New York,
vice president; Howard r. Gerhard,
secretary; A. l.. Thomas Of New York,
assistant secretary, and James E.
Anderson. assistant treasurer.
In addition to Messrs Yonker, Hos
kinson and Gerhard, the directorate
includes E. c. Lynch and d. M.
Bomeisler, both of New York City. 1t
will be recalled that only recently this
company took over 40 Piggy Wiggly
stores in this territory.
Local Bank Stocks Still Soaring.
Trading on the local exchange
wound up the week today with bank
stocks still climbing. The buying
wave included a 15-share turnover in
Continental Trust at 130, one-half
point higher than it had previously
reached.
Merchants Bank & Trust was strong.
with SIS shares selling at 1856, while
National Savings & Trust led the bank
stocks in trading volume on a 40
share turnover. The stock opened at
$40, jumped to SIS to $40 and closed
at sci, a new high mark.
After call District National came
out at 245ss, advanced to 247 and
closed at 249, one point under the
years top. Trading was light in
other stock issues. Bonds held firm.
firm.
Crissinger Surprises "Street."
Washingtons financial district was
much surprised over the resignation
of Daniel r. Crissinger as governor
of the Federal Reserve Board to be-
come associated with the executive
committee of the F. H. Smith Co. His
intimates had known for some time
that he had such a move in mind, but
no information of the kind had
reached the general public. AS gov
ernor of the Federal Reserve Board
Mr.. Crissinger had come IN personal
contact with many local bankers, has
addressed the bankers conventions
and been a guest Of honor on many
occasions.
The action Of President Ezra Gould
of the Washington Mechanics Saw
ings Bank and Representative Fred
erick N. Zihlman in becoming direc-
tors in the same real estate mortgage
firm also aroused much interest in
local financial circles today.
Local Banks Vote Dividends.
The directors of the Commercial
National Bank have declared the reg
ular quarterly dividend of 11a per
cent and an extra of u per cent. both
being payable on October i. Books
close on September %.
The Union Trust Co. directors have
voted the usual quarterly dividend of
2 per cent, payable on October Is to
stockholders Of record September 80.
The recently declared per cent
quarterly dividend of the District Ma
tionad Bank is payable September 80,
the books closing on September 23.
Oscar Coolican, head OF the Wash
ington office Of G. M. p. Murphy &
Co, has returned from a two week
vacation, which he passed at the
home of his wifes relatives, near
Montreal.
Mr.. Coolican turned his attention
at once to the brokerage firms plans
to expand it's business in this city in
the near future. G.. M. p. Murphy
Of New York, president Of the con-
CSIIty was III WdSIllllS lOI IOudy 1Ol
a long conference.
1t is the company's intention to
branch out and maintain two offices.
One will remain in the heart of the
financial district and the other in the
vicinity Of Seventeenth street and
Connecticut avenue. Definite an
nouncement regarding locations will
be made soon.
Bank Reports Excellent Year.
The stockholders Of the Woodbridge
Langdon Savings & Commercial Bank
have just elected these directors for
the ensuing year: H. p. Baldwin. J.
p. Benfer, r. John Boehs, M. o. Bull,
r. S. Campbell, G. M. CLANCY, G. Fen
ton Collins, A. E. Cowles, w. j. Dow,
G. u. Edwards, Ora E. Haines, J. H.
Harwood, A. S. Henderson. j. B. Hig-
don, J. l.. Knopp, +. A. Linger, T. S.
Mallon, Eppa l.. Norris, w. S. PLACER,
w. B. Putnam, John B. Rubino. S. S.
Symonds and Kenneth Vieth.
The president reported at the an
the past II months.
President Silent on Boards Action.
President Coolidge has no special in
formation concerning the action of
the Federal Reserve Board in initiat-
ing a 31s per cent discount for Chi
cago. 1t is stated at the White House
that the board functions entirely apart
from the Executive. its operations be-
ing almost judicial in nature. The
controversy over the Chicago incident
is one that must revolve around in
depreciation of the Federal Reserve
act.
President Joseph Schiavone of the
International Exchange Bank has
been entertaining Mayor Fred w.
Donnelly Of Trenton. n. J.. and other