Evening star., 1927-04-25
BANKERS To WEIGH
EARLIER CLOSING
Plan to Shut Doors Hour
Sooner This Summer Be-
fore Officials Tomorrow.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
President Howard Moran has called
a special meeting of the District
| Bankers Association for tomorrow
afternoon at AIS, when the question
| of closing the local banks an hour
earlier during the hot Summer months
will he fully considered. Secretary w.
| J. Waller sent out a QUESTIONABLE a
| few days ago asking for an express
| sion of the bankers views on the pro-
| posal, and a summary of the replies
| will be presented at the meeting.
The idea of early closing-at > in
stead of 8 oclock-las been voted
down in years past, but inquiry among
many local bank officials indicates
| that the move is meeting with more
| favor this year. The fact that early
| closing is proving successful in so
many other cities is no doubt one
factor in drawing more support to
the plan here.
George 0. Nass. vice president and
cashier of the Riggs National Bank,
is one of the leading enthusiasts on
earlier closing. For his own informa-
ton he has gathered data from many
other cities. He finds that the banks
in Is of the 18 cities from which he
has heard shorten their hours in the
Summer. Eight Of the Is have short
ened them the year around, adopting
hours from to 2. In of the Is
cities the banks close at 3, but do not
open until 10 o'clock in the morning.
More Drug Stock Listed.
At today's session of the Washing
tor Stock Exchange, the governing
board listeI $500 additional shares of
the preferred stock of Peoples Drug
Stores, with warrants. This makes a
total listing of $1,250,000, as there had
already been $1,000, 900 in this issue on
the exchange.
Washington Gas Light stock led
today's trading, 70 shares selling at
1914. Ten shares of Washington
Railway & Electric scared to 955,
while 40 shares OF the common
changed hands at 921s. Union Trust
sold at $50, Barber & Ross common
at 365s, and Gas 6s. series E, at
1855
Capital Increase Approved.
In New York today stockholders Of
the North American Co. approved an
increase in capital from 100000
shares of SO par value to 10000, 900
no par value shares, and from
1900 900 preferred shares to 100000
Of $50 par value. An increase in the
redemption price of preferred shares
from $3.50 to S55 also was approved.
Bus Line Changes Ownership.
New ownership of the Winchester
Alexandria Washington Parlor Coach
Line was announced today, the bus
line having been purchased by Frank
G.. Martel Of Washington, who has
offices in the Franklin National Bank
Building, from NJ. S. Kielsgard of
the Virginia Transit Company. This
line operates between Washington
and Shenandoah Valley over the Lee
Jackson highway.
The new owner is planning to en-
large the service for the Apple Bios
som week festivities and also per-
manently. Mr.. Martel became inter-
ested in the motor transportation
field while he was captain Of am
munition train in the motor trans
port service during the World War.
C.. & o. March Surplus Higher.
Surplus of the Chesapeake &
Ohio for March rose to S2,622,851
from $1,705,2SS in March last year,
bringing the total for the first quarter
to $6,745, ,739, compared with S4,4S0, ,428
in the first quarter of 1926. The
772,534 against SO. .463,503 a year ago.
Fine Ii. 4 o. Statement Likely.
Judging from loading figures,
Baltimore & Ohio's March earnings
statement will make favorable COM
parison with the same month last
year. The report is due for publica-
ton on Wednesday.
An analysis of the four through
York and Chicago, published in New
York yesterday, showed that Balti-
more & Ohio has surpassed all it's chief
competitors in percentage gains, shown
in 1926, in both gross and net oper-
ating revenues
Reducing Directors Opposed.
There is opposition in Washington
to any reduction in the number OF
directors on the board of the Lanston
Monotype Machine Co., when this mat
ter comes up for action on May 5 at
the annual meeting in Alexandria.
1t is proposed to reduce the mum
ber from II to 8, and such action could
be taken more conveniently now than
at most any other time, as there are
two vacancies on the board caused by
deaths since the last annual meeting
Local stockholders, however, favor
an increase in the number rather than
any reduction and claim that the ad-
ditional representation rlghtfully be-
longs to washington. Since the stock
is so widely held in this city, the views
Of local shareholders are sure to be
given careful attention.
In and Out of the Local Banks.
Charles j. Bell, president of the
American Security e. Trust Co, passed
the week end at Norfolk.
William B. Hibhs, head OF the
brokerage house by that name. passed
the week end at his estate in Lees
burg.
Robert N. Harper, president of the
District National Bank, was back at
his office today after attending the
jefferson dinner in New York Satur-
day night.
Albion K. Paris, one of the found
ers Of Crane, Paris & Co., sailed Sat
urday for Europe. where he will spend
several months in France and Italy.
Joseph Schiavone, president of the
International Exchange Bank, was
back in the city today after several
days visit at his old home in Trenton.
N. j.
Peter A. Drury. president Of the
Merchants Bank & Trust Co., has
opened his Summer home at Blue
mont, Va.
Other Financial Notes.
Tickers in the local broker offices
started off an hour earlier this morn
ing, all the offices opening at
o'clock in conformity with the day
light saving schedule in New York.
The change was made without a
hitch.
The Washington Bank Women's
Club will have a dinner at the
Hamilton Hotel this evening, accord
ing to announcement by Miss Lois A.
White, the president.
Offering is being made today OF the
unsold portion of 100000 shares of
the common stock of the Manufactu-