Evening star., 1927-10-05
D. c. BANKERS PLAN
TRIP IO:HOUSTON
A. B. A. Convention Arrange
ments CompIeted-PeopIes
Drug Board Feature.
by EDWARD G.. STONE.


pleted plans for attending the fifty
third annual convention of the Ameri
can Bankers Association, which opens
on October "a at Houston, the metrop
oils of the Texas Gulf Coast country.
The local delegates will make the trip
over the Southern halfway.
The program, soon to. be announced
will contain the names of many ma
tionally known bankers who are au
thorities in their lines. Careful study
will be made of banking and business
conditions and trends all over the
country. At the same time no inter-
nal dissensions are likely this year.
the branch banking controversy hav-
ing been disposed of a year ago.
Word from Texas says the enter
tanning bankers are determined to i'm
press the delegates with the great
progress made by Houston in the last
decade, especially : the completion of
the Houston ship canal. which pro-
vides deep-water access TO the Gulf of
Mexico and has made Houston one of
the leading ports of the United States.
Among the bankers who will attend
from Washington are Francis G.
Addison, jr.; Victor B. Deyber. Harry
" Haynes. Robert n. Harper, Fl. II.
Mckee, Howard Moran, Maurice OF
tcEDdCk anu CeOiSS ~. dlSOfI.
I.anier p. McLachlen, who expected
to attend has been obliged to give up
the trip.
Peoples Drug Stock Advances.
Peoples Drug Stores preferred fur
nished the feature on the Washington
Stock Exchange today. opening ar
12112 and closing at 1922, the days
sales being SO shares. This is an adj
vance of 12 points over the last sale
on the exchange.
lt4h today on sale of only three
shares. Capital Traction sold at 1862
on 50share turnover. Potomac
Electric Power Sig per cent preferred
sold at 1863 the same as yesterdays
quotation, which is also the high for
the year.
Washington Railway & Electric
came out at 1872. Washington Gas
Light stock opened at 793s and climb
ed up to 80 again. where it closed.
Sanitary Grocery sold at yesterdays
price of 101 p. and one share of Co
lumbia Sand & Gravel sold at par.
Merchants Bank. & Trust Co. was
the only bank stock out, selling at
1855 on four transactions involving IS
shares. Bond trading was quiet at
recent levels. a ...
Fewer Mortgage Bond Offerings.
Public offerings of 81 issues of first
mortgage real estate bonds. land
trust certificates and real estate COL
lateral trust certificates. valued at
S51,717,5OO. We're made throughout
the United States in September,
| compared with 80 issues amounting
| to $77,241,000 in September, 1926. ac-
cording to a statement made by S.
w. Straus & Co. yesterday.
For the nine months since Janu-
ary 1. this year. 789 issues. amount
ing to $596.557,750, have been under
written while IT'S issues, valued ut
S644, ,674 $50. were underwritten dur
ing the same period last year.
Telephone Outlays Voted.
Directors of the Chesapeake & Poto-
mac Telephone Co and associated COM
panies in September. voted improve
ments in the District, Maryland,
Virginia and West Virginia which
will cost $1,165,390. The amount
authorized in Washington during the
year to date amounts to more than
Virginia improvements is 81 500, ,07O,
and in West Virginia s1,697,55O.
Kresge Earnings Again Improve.
September sales of s. S. kresge Co.
were $1O,421, ,615, or 10.41 per cent
more than in September last year, and
for the nine months this year, $685.
627 ,020 as against $76,875,272 in the
same period Of 1926. There were 413
stores in operation September 80.
Nearby Coal Shipments Booming.
1t is estimated by the Federal Re
serve Bank at Richmond that West
Virginia is putting out three and
quarter million tons of coal week
and Virginia is doing better than
quarter of million tons a week.
West Virginia is leading the country
In coal production at present. Retail
coal yards in the fifth district are
busy filling orders, but coal in all sizes
and quality is Immediately available.
Prices have been practically station
ary since the first advances of the
Fall went into effect six weeks or two
months ago, and present prices are
low in comparison with prices of
other strike years.
Other Financial Notes.
r. Golden Donaldson, president of
the Commercial National Bank, has
returned from a short visit to At.
lantic City. He was accompanied by
Controller Mcintosh.
BonPright e. Co. took part in sale
of the Allied Owners Corporations
motion picture issue of $9,5OO,O0
first mortgage real estate 6 per cent
bonds, which was reported as COM
pleted today.
declared the regular quarterly divi-
n ch fha