Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-03-16
HEAVY INCREASES ARE SHOWN
INNORTH AMERICAN CO. PROFIT
Gain In Revenue From Each Glass of Util-
ity Business Contributed to SILL, 1850, 466
Gross Earnings of Firm.

and Power Co. and the acquisition OF
North American common stock by the
Western Power Corporation, sub.
sidiary, to be held against the CONVEX.
sion of bonds Of that company.
The company's working capital
showed a substantial decrease. Cur
rent assets of December 81 last
amounted to $47,OS6,011, including
about 81, 800. 900 cash and Government
securities. against $1s,635,757 current
liabilities. Current assets at the close
of 1925 amounted to 54.493,914, in.
Guiding $26,300.000 cash and Govern.
ment securities. compared with $12.-
S60,122 current liabilities.
$500, 900 Stock Sale Planned.
Crane. Paris & Co., investment
bankers. are expecting to offer $780,
600 Columbia Sand and Gravel Co.
Z per cent cumulative preferred stock
in the very near future.
The company is the successor to
the Columbia Granite and Dredging
Corporation, Clyde b. Asher being
president, l.. L. Reeves vice presi-
dent and general manager, G. A.
Bonnet, secretary and treasurer.
The company has valuable wharf
properties In Georgetown and South
east Washington. 1900 acres of sand
and gravel properties in Maryland
and Virginia. and considerable other
equipment. The present directors
are Clyde B. Asher. Charles j. Bell
Gustav A. Bonnet, Robert V. Flem-
ing. Charles c. Glover. jr.; Clarence
T. kingsbury. Arthur c. Moses.
Lawrence L. Reeves. Leon S. Ulman.
George o. Watson and Roger j.
Whiteford.
Membership Drive Started Here.
An effort is being made in Wash.
ington to get more local banks to take
out membership in the Financial Ad.
yertisers' Association. national or.
ganization. The importance of f1nan.
cial advertising and the value of hav.
ing 1t handled by experts is back of
the drive. Among the local banks
already holding memberships In the
association are the American Se-
curity & Trust Co., District National,
Federal-American National. Potomac
Savings. Washington Loan & Trust
and Security Savings & Commercial.
Letters have recently been forwarded
to other institutions. enumerating the
advantages Of membership and urg.
ing them to join. Not only are the
annual meetings considered of great
value but the matter sent to mem.
bers during the year keeps these
banks up to the minute on new ad.
vertising methods.
Local Market Again Strong.
Local securities were again strong
on the Washington Stock Exchange
today. the session opening with Wash.
ington Gas IS, Series B. selling at
los. Later the Series A bonds sold
at 103A. Georgetown Gas 5s sold at
100h, and Capital Traction SIS at
1918.
Capital Traction stock opened at
1868. selling ex-dividend, and closed
at 106K. the days sales reaching 60
shares. Three bank stocks came out,
American Security maintaining It's
recent high for the year of 3S1: Mer.
chants Bank & Trust Co. selling at
155k, a new high mark on the pres.
ent advance, and Federal-American
moving at 800, again touching the top
price of the year for this stock.
Chevy Chase Dairy preferred sold
at 1919, gain of half a point over
the first sale of the stock since it was
listed. Mergenthaler came out at
1857. National Mortgage & Invest.
ment preferred at S%, and Washing
ton Gas Light at 72A. a fractional ad.
vance to new high.
Barber & Ross Dividend Voted.
The directors of Barber & Ross,
Inc, have declared the initial divi.
dend on the common stock. a quar-.
80
being authorized. This is at the rate
of $3.50 per annum. The dividend ia
payable on April to stockholders of
record on March 81. The stock Is sell.
Ing on the Washington Stock Elk.
change around 81.
Bank Declares Dividend.
The directors of the American
Security Sc Trust Co. at a meeting
late yesterday declared the regular
quarterly dividend of per cent. The
dividend will be paid on April II, as
April 10 comes on Sunday. to stock
holders of record on March 81.
More Money i'm Circulation.
Circulating money in the United
States on March / totaled $4,778,8S7,-
039. an increase of S65,941,599 over a
month ago and a decrease of $685.
330,007 compared with March /, 1926.
Principal changes comprised in
creased emission of $25,949,294 in
Federal Reserve notes; $23,644.838 in
gold coin and bullion: $14.658, 500 in
national bank notes and $3,915,831
In United States notes, offset by with
drawal of $2.6S6.760 in gold certifi-
Gates.
Per capita circulation was $4103,
against $40.51 on February ! and
$41.S4 on March /. 1926.
Latest Financial Notes.
Only routine business was transacted
at the monthly meeting of the direc-
tors of the Mergenthaler Linotype Co..
E. J. McQuade reported on his return
from New York.
Vincent B. Smith has joined the bond
department Of Crane, Paris & Co. Mr..
Smith was formerly with the Farmers
& Mechanics and Riggs banks here,
but more recently has been in the Sc
curities business in New York.
The Wall Street Journal states that
the alien property custodian has H.
900 shares Of Western Maryland com.
mon stock on which he is awaiting an
offer.
The Federal Trade Commissioners
are studying the briefs in the com.
missions case against the Famous
Players Lasky Corporation, charging
unfair trade practices. A decision Is
not expected for some time.