Evening star., 1927-05-23
SECURITIES STRONG.
ON EXCHANGE HERE.
Bank Stocks Among the More
Active IssueS-Broad
List Moves.
By EDWARD C. STONE.

By EDWARD C. STONE.
Stocks and bonds started the week
strong and trading was heavy on the
local exchange, bank securities being |
among the more active issues. Amer
lean Security & Trust sold at 3S8,
Union Trust came out at 2S0. RIGGS
National opened at 4S612 and closed at
4S5A. while one share of National |
Bank of Washington changed hands
at 800.
Potomac Electric Power preferred |
sold at 1OSA, Firemen's Insurance |
Co. registered 2312, National Mort |
gage & Investment, Shs, Peoples Drug |
Stores preferred appeared on the
board at 1081a, and the final stock SAFE
was in Capital Traction, when ~
shares brought 104s.
The bond market opened with sale |
of Potomac Electric Consolidated os
at 1O1%. Washington Gas 6s, series
A, sold at 1882 for two baby bonds,
and a $1,000 series B bond sold at
1O4%. Washington Market & Cold
Storage 5s made their first appearance
in a long time. being quoted at 94A.
Capital Traction 5s recorded trans
fer at 101A. and the bond sales closed
with a $4,000 transfer in Chesapeake
& Potomac Telephone 5s at 1O012
Lanston Monotype was among the
issues quoted eX dividend today.
RothschiId to Address Bankers.
Louis Rothschild, director of the
Better Business Bureau. in this city.
has been added to the list of speakers
for the coming Hot Springs conVen-
tion of the District Bankers Assocla-
ton, according to announcement mace
TODAY by general Chairman Lanler f.
McLachlen.
Mr.. Rothschild has been extremely
successful in his work with the local
bureau and has done great deal 1or
the better protection OF investors III
Washington. He has also done ms
full share in helping to raise the
standards Of business methods Wher-
ever weak and unwholesome spots
have appeared in Washington's COM
mercial life.
The bureau director will speak on
some of the puzzling problems with
which his organization has to deal ana
give the bankers a valuable insight
into the the ways and means used 10
block unfair business practices. he
will speak June 10.
Convention Delegates Return.
John r. Downing, vice president,
Citizens Union National Bank. Louis.
Vile. KY, was elected president or
the Association of Reserve City
Bankers at the closing session in
Pittsburgh Saturday.
John f. Flourney, jr.. OF New Or
leans was elected vice president. New
directors elected were: Charles M.
Ramsdell, Buffalo; Bon w. Jones, 81.
Louis: Clark Hammond, Pittsburgh,
and Stewart McGinty, Atlanta. New
Orleans was selected for the 1878 con-
vention.
The final days session was featured
by an address by William q. CLYDE,
president of the Carnegie Steel Co.
principal subsidiary of the United
States Steel Corporations Mr.. Clyde
gave a wealth of information concern
ing the steel industry.
The Washington delegates reached
home Sunday, among them being II.
l.. Offutt, Wilmer J. Waller and A.
NJ. Nevins. They report that several
members OF the Reserve City Associ-
alton are planning to attend the Hot
Springs sessions, having been extend
ed special invitations to do so.
New Insurance Directors Named.
Four new directors of the District
Of Columbia Life Underwriters Asso-
citation have just been elected as fol-
lows: James A. Maloney, G. Leo
Stabler. Fl. Cochran Fisher and Ed
ward p. Kern.
Other directors who are still in office
are A. L. Baldwin, Russell P. Free
man. John F. Cremen, H. Lawrence
Choate and Frank r. Strunk.
The directors who are just conclud-
ing their terms include G. B. Far
quhar, president of the association;
A w. Defenderfer, second vice presi-
dent; E. G. Adams and P. N. Rogers.
The annual election of officers takes
place in few days.
Productive Activity Sets Record.
A new high record for industrial
productive activity was set by the
manufacturing plants OF the Nation
during April. Based on the consump-
ton of electrical energy the rate of
productive activity was c.5 per cent
over that recorded in March, 1926,
the previous record month, and Al
per cent higher than in March of the
current year, Electrical World reports.
All of the importan primary indus
tries Of the country, with the eXcep-
ton of the iron and steel mills, and
the stone, clay and glass industry. re.
ported April activity above that Of
March of this year.
Industries which made substantial
gains were the metal group, leather
and it's products, textiles, paper and
pulp, and rubber A lower rate of ac-
tivity occurred in the lumber. auto
motive and stone, clay and glass in
dustries.
Cheap Money Big Market Force.
McNeel's Service says in it's latest
issue: Cheap and abundant money is
the force behind the market, but to
foster a broad general speculative
movement there must also be the
influence of an expanding industrial
activity and expanding industrial
profits, and those are not in prospect.
The business situation is showing
some slight deterioration rather than
the reverse, and there 81 no reason for
expecting business uplift before next
Fall at least"