Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-09-21
THREE NEW HIGHS
ON EXCHANGE HERE
Gas Light, Chevy Chase
Dairy and Pepco Preferred
All at 1927 Peak.
BY EDWARD c. STONE.

By EDWARD c. STONE.
Three more new high marks were
reached on the Washington Stock Tx.
change today The first was hung up
by Washington Gas Light, which
opened at TN and closed at 1914, a
fractional gain over yesterdays final
quotation.
Then shares of Chevy Chase Dairy,
preferred, sold at 107, a substantial
advance over the last sale, which was
made at 1031a. The third 1927 peak
was scored by Potomac Electric 51@
per cent preferred, Is shares reach
ing 1913.
Railway & Electric preferred was
strong at 95, 10 shares of Potomac
Savings Bank sold at 800. and 20
shares of the newly listed Columbia
Sand & Gravel stock changed hands
at par.
Bonds were quiet. Gas 6s, series B,
came out at 1898 and Capital Trac-
ton 5s moved at 1929 and 1929.
Directors Declare Dividends.
The directors of the American Sc
curity & Trust Co. at a meeting yes
terday afternoon declared the regular
quarterly of per cent due at this
October 10 to stockholders of record
September 80. The books will be
closed from October l to October 10.
The board of directors of the Fed.
eral Storage Co. has declared the reg
ular quarterly dividend of per cent
on the preferred stock, according to
announcement by President E. K.
Morris. The dividend is payable Octo-
Der 5 on stock of record Septem-
Der 80.
Institute Dinner Great Success.
The dinner given by the education
committee of Washington Chapter,
A. l. B., to the members of the faculty
last evenings at the Raleigh was a
complete success. Francis r. Addison,
jr., was the chief speaker, while all the
other members of this years teaching
force made brief remarks. Chairman
James A. Soper of the educational
committee presided, /. j. Roberts and
other members of the committee being
present.
The members of the faculty at the
dinner included Raymond B. Dickey,
dean and instructor in commercial
law; Eliot II. Thomson, banking
fundamentals; Edward J. McQuade,
credits; Bolitha ]. Laws, negotiable in
struments; f. j. Donohue, standard
banking; Y. T.. Booker, investments:
w. Gordon Buchanan, analysis of
financial statements; Walter II. Dun
lay, business forecasting; B. Ashby
Leavell, trust functions.
The institutes opening rally and
awarding of last years prizes and
certificates takes place this evening
at the Willard, beginning at 8 o'clock.
The program indicates d decidedly in.
teresting meeting.
Will Manage Local Office.
II. George Tyson has become asso-
ciated with Harris Mooney & Co., in
vcstment bankers of Baltimore and
New York. and will be manager of the
office which the company is maintain
ing in this city in the Southern Build
ing. Mr.. Tyson believes that the sue
cess the company has attained in
Baltimore for many years will enable
him to render valuable investment
service here.
. Wholesale Prices Go Higher.
Bureau Of Labor statistics show that
wholesale prices advanced l 1-3 per
cent during August compared with
July, the strong upward movement
being largely due to an increase of
per cent In farm prices.
During the month corn, cattle, hogs,
cotton, eggs. hay and tobacco prices
were higher, while wheat, onions and
potatoes were cheaper than in July.
Foods, clothing material, metals, house
furnishing goods and miscellaneous
commodities also averaged higher than
in July, while small decreases are
shown for building materials, chemi.
Scals and drugs, and for fuels as a
whole, although coal advanced.
OF the 404 commodities, August
prices were higher in 142 instances
and lower in SO instances, and in 1863
cases no change in price was reported
President Insured for S1,OOO,OO0.
John McGuirk, president of the
Stanley Co. of America, with which
the Candall Theater interests of this
city are affiliated, today joined the
ranks of heavily insured business ex-
S1,00O,O0O on his life. New York re-
ports state that the amount was d.
vided among several leading insurance
companies and was made payable to
the Stanley organization.
The practice of insuring it's execu-
tives has been followed by the Stanley
Co. for years. The late Jules f. Mast.
baum was insured for 81 ,000, 900, which
was paid to the theater company fol-
lowing his death last year.
Reserve Board Appointment Soon.
Secretary Mellon has let it be known
that President Coolidge will name the
new Federal Reserve Board governor
very soon. 1t is now expected that
someone from the West will be named,
as the majority of the present mem
bers are Eastern men. In this con-
nection the possibility that Edward H.
Cunningham, the present member of
the board from Illinois, might be ele-
waited to the governOrship has assum.
ed some proportions, although such
action is. of course, largely specula.
ton.
Other Financial Notes.
Local bankers are being asked by
Quaker City financiers to assist in get
ting the national A. B. A. convention
to vote to meet in Philadelphia in
1928.
The accounting department of the