Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-06-06
PEPCO PREFERRED
MARKET LEADER
Washington Gas Light Also
Is Prominent in Trading
on Exchange Here.
BY EDWARD C. STONE.

BY EDWARD G. STONE.
Potomac Electric Power 5115 per
cent preferred stock again held the
limelight on the Washington Stock
Exchange when the weeks trading
opened today. There were II differ
ent transactions, most Of the sales
being made at 1918, but it closed at
10115, a new peak for the stock.
Washington Gas Light was also
prominent, so shares changing hands
during the session at Is. Mergen-
thaler Linotype reached a new high
at 11424 today, but closed at 11412.
Lanston Monotype came out at 100
and closed at 99%. The first trans
action in Capital Traction in several
days took place when so shares sold
at 104%. The Potomac Electric
Power Co.'S per cent stock remained
sold at IFS, one share of Union Trust
Co. at $50 and Washington Market
Co. at So
In the bond division Southern Build
ing 61as sold at 1919, Washington
Gas, series B, bonds at 105 and a
baby bond, series A, at 10312. Capital
Traction SIS came out at q, Po-
tomac Electric first IS sold at 1OOb
and Washington Railway & Electric
as appeared on the board at S5M. In
the unlisted department three shares
of Raleigh Hotel stock sold at 105.
Mergenthaler was the only stock on
the list quoted ex-dividend today. this
fact being Of unusual interest, due to
the new high in this ISSUE
Bankers Ready for Convention.
It was announced today that every
member bank in the District Bankers.
Association will probably be represent
ed at Hot Springs by two or more
delegates. 1t is also expected that the
party will number nearly 800, which
is the goal set by Chairman McLach-
len and his committee several weeks
ago. President Howard Moran will
call the first session to order on We'd
nesday morning at $50. and make his
address summing up the work of the
past year.
Henry H. Mckee, president Of the
National Capital Bank. and Reuben
A. Lewis, jr.. associate editor of the
American Bankers Association jour
nal, are also among the speakers on
the opening day. These addresses will
be followed by the report of the spe-
cial committee on changes in the con-
stitution and bylaws, of which Maur-
ice d. Rosenberg is chairman. The
session will close with the appoint
ment of resolutions and nominating
committees.
Names Fertilizer Industry Needs.
Manufacturers sagely advise the
PC To h ic h
own good, but these advisers too often
fail to practice what they preach, as
serted Charles J. Brand of Washing
ton, executive secretary and treasurer
of the National Fertilizer Association,
at the fertilizer convention at White
Sulphur Springs. w. Va, today.
Intelligent voluntary curtailment
Of production must be practiced from
time to time in industry Just as in
farming" he said. This does not re-
quire any agreements that would be
illegal under the antitrust laws as
they stand. which admittedly were far
better suited to conditions of three or
four decades ago than to the fast
moving industry of the world today.
We individually cannot do as the cot
ton growers did in 1926-leave the cur
tailment to the other fellow, with the
result that we had $4,000, 900 acres of
cotton. We all know the disaster and
decentralization that happened in the
cotton belt"
Mr.. Bfandl listed six things the fer.
tilizer industry needs: Avoidance of
overproduction, increase in consump-
ton, fair prices with fair profits, i'm
provement of field personnel, observ-
ance of sound business practices and
possibly some consultations.
Peoples Drug Stores Sales Gain.
Sales Of the Peoples Drug Stores,
Inc, for May amounted to $633,944
compared with $523,444 during the
same month last year, an increase of
S110, 500, or 21.11 per cent. Sales for
the first five months of 1927 amounted
to $3,093,205, as compared with ST.
343, 966 for the same period Of 1926, an
increase of $749 ,239. or 31.96 per cent.
May sales of F. w. Woolworth Co.
were $20,915,635, against $40, 263,69
in May last year, an increase of 1922
per cent, and for the five months this
year, 500, 361 ,032, against SS8,179,67 in
the same period of 1926, gain of 9.2S
per cent. The company will open
it's first store in Germany next month.
May sales of S. S. I<resge Co., in
Guiding new stores, were 50 1901 ,621,
against $8,992.804 in May last year,
and for the five months this year, $45,-
S36,938, against $41,002,943 in the same
period Of 1926.
Heard i'm Financial District.
President John B. Larner of the
Washington Loan & Trust Co. was
back at his desk today after attending
the American Bankers Association
council meeting at Hot Springs, Ark,
mr. he So
He travelled 5000 miles. On the way
West he encountered the Mississippi
flood section and on his way home
saw where rains had done great DAM
age to Canadian wheat fields.
Edward j. Stellwagen, president Of
the Union Trust Co., again proved a
royal host to the employees of his
bank and of the Thomas j. Fisher
Co. when they journeyed to his estate
at West River for the week end.
There were 80 in the party and they
passed the time swimming, taking
long trips out on the bay, playing
games, presenting a minstrel show
and having big Sunday dinner.
The Seaboard All Florida Railway
has asked the Interstate Commerce
Commission for an extension of time,
from June l until November /, 1927,
within which to complete construc-
ton of a new line of road from
Miami to Florida City. Fla, about
"a miles.
The Lake Superior & Ishpeming
Railroad has applied to the Inter
state Commerce Commission for
authority to issue $2,S56,00O of cap
ital stock, which it proposes to dis
tribute to stockholders at 200 per
cent stock dividend.
The Central Savings Bank Build
ing presents a very different appear
ance after having been thoroughly
cleaned by a process Of sand blast
ing.