Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-02-14
CAPITAL TRACTION CONTINUES
STRONG ON LOCAL EXCHANGE
Commercial National Bank Shares Score
7-Point Advance in Today Dealings.
Other Issues Display Strength.

341s. quarter point above and pre-
vious transaction, the days sales
reaching 100 shares. The Federal
American Back stock came out at 3l6
and closed at 317.
Washington Gas Gs, Series A, led
the bond trading. These bonds opened
ut 104 Il, and on later sales. reaching
10000, advanced to 10415. Baby
bonds in this issue brought only 1031s.
Washington Railway & Electric 4s
sold at "a, while Potomac Electric Con-
Solidated 5s came out at 10lA.
Credit Expert to Speak Here.
The first joint meeting OF the two
credit organizations of the city will
be held tonight at the Raleigh Hotel.
The Associated Retail Credit Men
are having their annual Valentine
dinner, at which prominent members
of the wholesale organization will be
their guests. The chairman for the
dinner meeting will be John w. Tai
lentire, the new president of the re-
tailers. The program has been ar.
ranged by the entertainment commit
tee, consisting of Mrs. Jesse Rogers,
w. +, Randolph and Louis S. Grigsby.
Immediately following the dinner
the entire membership will attend the
credit forum meeting of the Wash.
ington Association of Credit Men.
John r. Moore, chairman of the edu.
cational committee. will preside and
James Richard Hewitt, vice president
of the Retail Credit Mems National
Association, will speak on Sources
of Credit information" followed by
general quiz, Stephen III. Takes act
ing as quiz master.
The officers of the Washington AS
RI
Buckler, president: l.. r. Watts, vice
president; r. Z. Shealey, secretary:
William Gordon Buchanan, treasurer,
and John A. Reilly, assistant secre-
tary.
Those, who guide the destines of the
retail organization consist of: John w.
Tallentire, president; Leo Baum, vice
president; Stephen II. Takes. secre-
tary-treasMer, and Louis S. Grigsby,
assistant secretary.
Reserve Board Reviews Progress.
The Federal Reserve Board has just
issued a review of 1926 which shows
that industrial production eclipsed all
previous records in spite of a lull in
the last quarter. Production for the
year was per cent greater than the
high level reached during the previ-
Gus maximum period, in the Spring of
1928. During December and Novem-
Der. however, d recession was noted
in practically all lines of manufacture,
the output being smaller than in 1925
Increases were reported for the year
in production of iron, steel, automo-
biles, textiles, rubber tires, petroleum
products, non-ferrous metals and coal,
While building activities increased 4
per cent, primarily in Industrial and
public buildings and public works.
Construction of schools declined
more than 10 per cent, comparing with
an increase of 40 per cent in industrial
building. Residential building also fell
off, although the total building, ap-
proXimating $4,000, 600, 900, was much
greater than in any other year.
b One Family i'm Ten Owns Stocks.
In connection with his claim that
only 1900, 900 individuals in the United
States own stocks or bonds, Joseph S..
Mccoy, Treasury actuary, concludes:
This means that an average of one
family out of every ten owns stock in
one or more corporations, that some
2,35S,000 stockholders, most of whom
hold stock in many concerns, prac-
tically own the 1000 corporations in
these individuals. religious organiza-
tions. foundations and charitable in
stitutions own about one-third of /
per cent of the total corporate stock.
1.-The II 900 millionaires of the
country received about 100000, 900 in
dividends, or less than per cent of
the total declared. From this it is
evident that no longer are the corpora
tons closely owned. The millionaires
own less than per cent of their stock
while those with net incomes of less
than S12, 500 own so per cent of all
the corporate stock in the United
States"
Local Bank 113 Years Old Today.
President Harry V. Haynes of the
Farmers & Mechanics National
Bank in Georgetown was receiving
congratulations today on the banks
18th birthday.
This bank was organized on Febru-
airy IA, 1914, and has enjoyed the
confidence of the community, steadily
expanding.
The bank few years ago COM
pleted a fine new building at Wis
consin avenue and NJ street. The
present officers and directors have
every reason to be justly proud of
the institutions unusual record.
Local Financial Notes.
President John Poole sof the Fed
eral American National Bank is pass.
ing the week in New York on busi-
ness.
Chairman Yerkes said today that adj
vance reservations now make it GER
tain that there will be 200 people at
the institute banquet next Saturday
evening.
+, w. Woolworth Co. sales the first
week of February showed an unusual
gain of 100000 or a rate of Is per
cent for the month.