Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-08-18

|
Capital Traction figured in three
sales involving 10 shares at 104. Po-
| tomac Electric Power 5h per cent
preferred was selling ex-dividend to-
day. % shares in three lots changing
| hands at 1919
There was but one sale in the bond
division, $1,000 transfer in Washing.
ton Gas 6s, series A, being recorded at
1031a. A lull was noted in the recent
bank stock advances. not a share APP.
pearing on the board.
Washington Railway & Electric
common and preferred. Potomac Elec-
trio Power per cent preferred and
Lanston Monotype were quoted ex-
dividend.
District Bank Elects Director.
The directors of the District Ma
tional Bank yesterday elected Eugene
c. Colt, who is head of the firm of
Sidney West, Inc, to membership OH
the board. Mr.. Colt fills the vacancy
caused by the recent death of Sidney
West, who had served the bank long
and efficiently In addition to his
connection with the mems furnishings
store, Mr.. Colt has other large local
financial interests. He has held con-
siderable stock in the District Ma
tional Bank for some years. He Is
member of the Racquet and Columbia
Country Clubs and the Merchants and
Manufacturers Association.
Banks Housewarming Tonight.
The Takoma Park Banks handsome
new structure, at the corner OF Car
roll and Willow avenue, will be
thrown open to the public for the first
time this evening between 8 and IL
O'Clock. The officers and directors
have issued large number of invita-
tions, and many bankers from down.
town Washington have expressed
their intention Of going out to inspect
the new building. Takoma Park citi-
zens will turn out in large numbers.
as they are very proud of their new
est financial institution.
Mcintosh Wins Court Support.
The efforts of dozen California ma
tional banks to place check upon
Joseph M. Mcintosh. controller or the
currency, in connection with his au-
thority to approve or select the name
under which Sc other national banks
NAV do business in that State failed
when Chief Justice Mccoy of the Dis
trict of Columbia Supreme Court de-
cided he had no power to interfere
with the discretionary powers vested
in the controller by Congress under
the general banking laws, and partic-
ulariy the McFadden act Of February
25. =
The net result Of this decision Is
that no national bank, operating now
as first. second Tor whatever the nu-
neral isl bank can prevent the start
ing up of another bank in the same
Mace using the name first. second tor
other numeraD bank If the new bank
is a branch Of a national bank In an.
other place which has consolidated
with a State bank which had branches
where the original national bank Is
located. An appeal was noted.
Early Trade Expansion Forecast.
Despite the general reaction in man.
ufacturing activities during the sum
mer months to the lowest levels re-
ported in the past two years, business
conditions continue sound and all
signs point to normal trade expansion
during the Autumn months, says the
Rrookmire Economic Service. Inc
bnving for Autumn and winter re-
ouirements. due to the recent trade
reaction. is expected to develop earlier
than in recent years. one !aVoraoie
condition in the present business slt'
nation is the absence or heavy lnVeH-
tories, indicating that buyers nave
contracted for only immediate needs.
Life Insurance Growing Steadily.
New paid-for life insurance written
in July by As companies, with 81 per
cent of the total life insurance OUT
standing in all United States legal re-
serve companies, amounted to 1881,
900 900, against 1891, 100000 in July,
1926. according to report of the Asso'
citation of Life Insurance Presidents to
the Department of Commerce.
For the first months new busi.
ness of all classes written by the 20
companies amounted to .OOo,OoV'
against Sc 500 ,000.0 in the same pc
riod of 1926.
;s that the North Carolina Power &
Light Co. has taken out $3,SOO.0O0
group insurance on 100 employees and
their $50 families.
More Bankers on Vacations.
President Charles j. Bell Of the
American Security & Trust Co. left
Washington yesterday for vacation
in Canada. He will spend several
days in Quebec before going to MS
camp on the Saguanay River.
President Thomas E. farrell or the
washington 0dNiIl6S lam az"
turned from 10 days at Atlantic CITY.
Vice President Thomas P. Hickman
of the Franklin National Bank IS pack
at his desk after a vacation In Maine:
President Edward j. StellWagen OF
the Union Trust Co. will return snort
ly before Labor day from his sum-
mer vacation passed at Poland Spring
House in Maine.
Roy l.. Newhauser. vice president
of the Real Estate Mortgage q Guar
anty Co., will leave here tomorrow
for East Gloucester, Mass, to continue
his vacation.
Financial Gleanings.
The outlook for continued prosper
ity is good, in the opinion Of Prof.
Irving Fisher, political economist at
Yale University, who sailed for Europe
today With the exception Of minor
recessions which possibly might occur
in the next few months, no serious
setback appeared in sight, he asserted.
The North American Co. has de.
clared regular quarterly dividends Of
LAO of q share in common stock on
the common and Is cents a share on
the preferred, both payable October /
to stock of record September 6.
f. w. Woolworth Co. opened its
first rs and so pfennig store in Ger.
many when tWo-foor site in Bre-
men was thrown open for public in
spection on July 20 and started doing
business the following day.
BUTTER AND EGGS QUOTED.