Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-03-21
GAS LIGHT STOCK
MARKET LEADER
Scores New High of the Year
at 70 1-2-Day's Turn
over Is 420 Shares.
BY EDWARD C. STONE.


opened with a sale of ITO shares at
13h, 100 shares at 1914, 100 more at
X. 10 at u. and a closing sale OF 100
at 73ss, the days total turnover reach
ing 420 shares. This stock has been
strong for some time. climbing steadily
to higher levels. Market observers
lay the recent gains partly to the fact
that the company's valuation case
comes up soon and to the expectation
of a favorable ruling. They also point
to the advance in Capital Traction
since the recent court valuation de-
cision relating to that company.
Fifty shares of Merchants Transfer
G. Storage sold today at 101h and ten
shares of American Security Trust
Co. came out at 3S2. There were but
few bond transactions, Washington
Gas 6s. Series B. selling at 1O5, Capital
Traction S. at 101. and Railway d
Electric IS from S4% up to 80.
Hoover will Address Shippers.
Secretary of Commerce Hoover will
be the principal speaker at the Tour
teenth regular meeting OF the AtianI'C
States Shippers Advisory Board TO DC
held at Washington, April S. according
to an announcement by w. j. L. ban
ham, general chairman.
The meeting will bring to the Ma
tional Capital for the first time over
500 representatives of the shippers and
railroads in the Atlantic States terri
tory. Officials of the American Rali
way Association will also be IN attend
ance. Estimates as to the volume OF
business that is expected to be moVeo
during the next three months VIII De
submitted by some 40 commodity com
mittees, representing the basic indus
tries OF this region.
Financial District Expanding.
The steady expansion Of Washing
toms wall Street District" was again
brought under the spotlight the other
dav when Eastman, Dillon Co
opened much larger quarters in the
wilkins Building on II street. rms
move gives the Capital four large
stock brokerage offices in the heart
of the financial district.
Oldest Of these firms Is w. b. Hlbbs
& Co. founded by William b. Hibbs
many years ago. Then comes Harri'
man & Co., which has been In bust:
ness here for nearly two decades and
has one Of the firms partners as resi-
dent manager. ~,
Another brokerage concern is G. M
P. Murphy & Co. While the present
owners have operated this house Tor
less than a year, it is successor 70
John L. Edwards & Co.. which nrnn
was for years under the Leadership
of the able f1nancier who gave it his
name and whose death. when he was
still under so. ended a brilliant
career.
And now comes Eastman, Dillon
& Co., closer to the center of things
financial. After successful operation
in the Transportation Building the
call to extend the service could only
be answered by the switching of the
tickers to much larger surroundings.
The Connecticut avenue section. how
ever, has not been deserted, as
Wright, Slade & Co. in the Mayf1ower
Hotel maintain full New York Stock
Exchange service for hotel patrons
and other customers in that part of
town.
In addition to these increased
boardroom facilities there are many
smaller boards in the financial district
carrying quotations on the Wall Street
market leaders. not to mention the
many investment banking houses
which are in constant touch with
every vital financial move.
Sutherland Employs Caution.
1t Is announced at the office of
the alien property custodian, Howard
Sutherland. that great caution is be-
ing maintained in the handling of
securities valued at $4,000. 900 and
representing holdings in about 1000
different companies. After the sale
Of a large block Of Western Mary
land stock fear was expressed in some
quarters that other stocks in large
amounts might food the New York
Stock Market and cause a sharp
break. But the alien property Gus.
todian has no such plan In mind.
These securities will be sold from
time to time, but In only moderate
amounts and with the approval of
the owners. The stock now held in
cludes shares In the Pennsylvania
Railroad. the b. & O.. United States
Steel, Anaconda Copper Co. and a
large number of bank stocks. The
recent sale of Western Maryla nd
stock was made at the request Of the
owners and at the price they stipu-
lated.
Some stockholdings are relea sed
outright to claimants by the Gus.
todian, but these usually are In small
amounts. Claims totaling S334,795,-
615. including interest and income &C.
cruals. had been paid to former enemy
aliens up to the end of 1926. The
custodian's Office, created in 1918,
when with one fell swoop the United
States seized all enemy ships within
its harbors. patents, trade marks and
securities on hand December 81, last,
hut ifndnr q cnnndfn~
claims are rapidly being disposed Of.
the smaller on es by the custodian
and those over $4,000 by the Depart.
ment OF Justice.
AS seized real estate and other prop.
erty is sold for the accounts of the
foreign owners, the proceeds are
placed In the Treasury. which, at the
end of last year. had invested all ex-
cept $4,000 of the $3.50, 900 900 in
cash turned over to it by the Gus.
todian.
Personal and Other Notes.
President George l.. Starkey of the
National Bank Of Washington has
gone to Atlantic City to pass a week
or 10 days. This Is the first rest Mr..
Starkey has taken in almost a year.
his last trip having been to Bermuda.
w. w. SPdiA Uno OtiSh at ITO uCoh
today after an absence of about a
month. the latter of which he passed
at Palm Beach. He found the snow
drifts too high for good golf at Pine.
hurst, so went farther South. The
trip proved Of great benefit, as he got
rid Of a very severe cold.
Carmi A. Thompson will speak on
the Philippine situation before the
Central Regional Savings Conference
of the American Bankers Association
at Cleveland. next Thursday evening.
The convention is similar to one to be
held in this city In April.
Murray Gidlin Of the Standard Co.
has gone to New York to have a con-
ference with officials Of the North
American Title Guaranty CO.. of
which he Is the fiscal agent here. The
title company is headed by Senator
Edwards and Is considering the cleo.
ton to the board Of three Washington
directors.