Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-12-27
:PCO PREFERRED
) 1-2SAT NEW HIGH
,aclles 108 for First Time,
Company's Other Issue
Also Is Strong.
BY EDWARD {. STONE.

BY EDWARD {. STONE.
following the Yuletide festivities
wheel Of local finance starte,
rning again today. with the reSul
at another 1927 high mark wa,
ached on the Washington Stool
lchance. The issue was Potomac
) ,ectric Power Sly per cent preferred
eek. which touched los for the frs
ne. The stock opened With FIVE
ARE turnover at 1879, followed b,
o 10 and one 50-share transaction
the new high.
The same corporations Is per CEN
eek figured in one sale nj tit'
ares Al the strong price Of ms
ne company's per cent bonds
tsme out III one small sale at 10. y
l.anston moved ut li0 and Mcrgen'
t2alcr ut lo4i4 in Il very light turn
ever. Five shares Of Riggs Natioua
.anl1 stock changed hands al 40.
ne point above the last sale Wash
;agton Gas Light stock again regis
tpred S4S4 ana 30 shares of National
-1ortgage & Investment prefcrre,
sald at SIS.
City & Suburban IS sold at % and
Washington Gas 6s. Series +. at loo
IN $500 and $500 transfers. The
bond market also recorded $500
ale in Capital Traction 9s at io4
The list Of local issues now being
quoted ex-dividend is almost a record
Christmas Savings Doubled
The amount OF money put in tbs
Christmas SAVINGS clubs conducted ny
TIE Washington banks practically la:
zen doubled since l9@i- That year
he Clubs reported a total Just under
g GOA goo while The i%r6 clubs han
d.ed lust under S6.0no .0a0-->5 ga 400
The Christmas savings i'll "A first
Was adopted here on a large scale in
1444. In 1928 the total amount saved
Was S4447.-4l while in 1926 the sum
had grown TO S5.5t+,@G1.
There were VNnoo people i'll the
Christmas Savings Clubs this year
Who smashed all previous records. As
the 1928 clubs have started out with
an unprecedented rush. next years
total VIII he far above So. 600. o00-
somewhere around $500. 600 or more.
Semi-Annual Dividend Declared.
The board Of directors of the Depart
mental Securities Corporation have
declared the regular semi-annual divi-
dend Of $3.50 per share on its pre-
ferre6 stock. according to announce
ment by the president. Joseph r
Exnicios.
The securities corporation is under
The same management as that of the
Departmental Bank. While it has
heen established but a comparatively
short time. the company is reported
To he doing an excellent business.
Reports Of special Christmas bo-
muses. are still being heard. 4 per
cent Yuletide bonus based on the
yearly ga Iaries Of all its employees in
the home Office and those afield was
voted ny the Acacia Mutual Life AS
ISOLATION. the president. William
Montgomery. announces. The home
office staff had a Christmas ceiebra.
ton in the Homer Building Saturday.
Theater Earnings Show Gains.
The earnings Of the Stanley Co.
% America, with which the crandall
tbeater interests are affiliated, will ex-
Coed dividend requirements of 81 per
share by a considerable margin, the
treasurer told the directors at the
December meeting. During the rast
year the number IF theaters under the
control Of this company has increased
threefold and the benefits Of these
subscriptions are now being noted. The
directors predict a continued improve
nlent in earnings during the first
quarter Of 1928, this being the most.
productive period OF the theatrical
year.
Dropping Surtaxes Advocated.
Certain Treasury Department Off
Gals lately have been advocating
legislation that viii make ali United
states Government securities now
outstanding exempt from all surtaxes
under the Federal income tax law.
Frank II. Morse Of Lehman Brothers
says IN reviewing municipal bond con-
ditions
should this proposal he sdopted
u VIII give 10 Government securities
Ell the tax exemption that is now
enjoyed hg municipal bonds" he
sa3s. This desire 10 exempt Govern.
fne1t securities from all taxes 50 that
they can compete with municipal
bonds toy Judgement with private in.
Feesorr fs probably caused by the
realization by the Treasury Depart
faent .hst wider distribution OF Coy.
eminent securities is desirable. and
u iE also desirable TO have some Of
these securities held for investment
rather than only as interest bearing
cash reserves.
securities now outstanding is held bv
corporations and banks ar the safest
snd most readily marketable gecurI.
Les obia.nabie. as they can he sold
'oT cash IN very short while in
practically unlimited amounts"
Insurance for Insurance Workers.
The metropolitan Life is installing
group plan for the benefit Of It's
own employees which is said 10 De
'iF mos, els borate group plan ever
Ge+ised
The plan calls for life insura nee
r n%lng from 81 900 to $40 600. for
temporary ar well as total and per-
fianeit disability BENEFITS ranging
FROM $50 month up for life annti-
~ retirement pensions, ana for al
'"#@H"Fs Tor hospital and operation
expenses.
Heard in Financial District.
a. W. igtehagt H. 90 il today Of
fes3ng q. ne@ Issue If Security Bond n
30. gage 80. 81. per cent bonds.
bao@n ~ series J. The one-%e8F
9"sfaF are pf'cE0 ~ yield BIO per
cent anG The 3to, three. four and
3fe gear issDes ~ s.eId SIS
All classes ia The Washington
fbap'&r, American Institute of Bank
2ns afe taking . Christmas recess
8 tey . III resume wpfk % Tuesday
January 3
Thomas ~. ETah3py # Crane, Par
re &. 90, IL tpday moving lntO Il new
home 10 chevy Chase which he pnr.
'Asseo several weeks ago.
u - sfaisd trat the total volume
- ihs'a iAneAt buying ia this coun-
ity dotlhg 1927 vii! approximate
u 10000 900, The United Business
ffffies u Boston. considered this
a''"1t y per cent - the total par+
'I@A+s throughout 'he country
he FRAUDULENT securities bin. which
- it'fbG@1 DtitsF ~ protect Wash
:.