Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-02-11
W.R. 6E. co. COMMON STOCK
UP 80 POINTS ON CHANGE HERE
Trading in New York Held Responsible
for jump Closing Asked Price Today
25O-2OO Yesterday Final


stock in New York. 1t was reported
that railway common sold there yes
terday around 225. AS there are no
special reasons here for the advance,
the bidding among New York brokers
Is considered highly interesting. The
stock has jumped more than so
points since the close of 1926. Dur
ing the last week in December the
stock was around 1T and 178. The
closing asked price, today was ESQ.
Other Local Securities Steady.
Firm prices prevailed in other parts
of the local list in today's trading on
the exchange. Potomac Electric
Power preferred sold at ITO. Five
shares of Federal American National
Bank came out at 315, Riggs Ma
tional sold at ass, and Continental
Trust registered 1916. Federal Ameri-
the board at 34A on transfer of
rs shares.
Washington Gas bonds, series B,
sold at 104h. The only other bond
transaction was in Barber & Ross
6hs, which sold at 99h.
Securities in the unlisted depart
ment was also called off today, show
ing very few changes.
Local Banks Open Tomorrow.
Washington banks will be open as
usual tomorrow, Lincolns birthday.
the only bank holiday observed here
during the present month being the
twenty-second, Washington's birthday.
The local broker offices, however,
will take q rest after the feverish
trading earlier in the week as the
New York Stock Exchange always OBJ
serves Lincolns birthday by closing.
The Washington Stock Exchange
will also be closed, the local organiza.
ton following the lead of New York
in observing financial holidays.
Steamboat Company Elects Officers.
At the annual meeting of the stock
holders of the Norfolk & Washington
Steamboat Co., yesterday, held at the
general offices here, the following di-
rectors were elected for the coming
year:
Charles J. Bell, Woodbury. Blair.
D. ]. Callahan, G. w. Forsberg, Clar-
ence F. Norment, Clarence f. Nor.
ment, jr.; William E. Pearson, E,
Francis Saul and Odell S. Smith.
AT subsequent meeting of the d.
rectors the following officers were
elected: Clarence F. Norment, presi-
dent; d. j. Callahan, vice president
and general manager; Odell S. Smith,
treasurer, and Clarence F. Norment,
jr., secretary.
Discounted Bills Decline.
The volume of bills discounted in
the local fifth Federal reserve district
continued at an exceptionally low level
during the week ended February 8,
totaling $21,660,O00, against S22, $685.
600 the week before. Note circulation
and member-bank deposits also were
lower. These changes indicated a
diminishing demand for credit,
brought about ratio of reserves to
combined currency and deposit liabil-
tiles of 1917 per cent, about 2 per cent
higher than the week before
Rediscounts in the Federal reserve
system as whole were $4,000, 900
below the previous week, totaling
1919 ,665,000. The ratio was 1915,
against 1876 per cent.
May Sell $4,000 Rail Shares.
is considering the ACCESSIBILITY of dis
posing of the $4,000 shares of Western
Maryland common stock held by that
office. He expects to reach a decision
on whether these shares ought to be
disposed of within the next few days.
In the event this stock should be dis
posed of, says the Wall Street Jour
nal, no decision has yet been reached
as to the method OF sale.
The Atlantic Coast Line and Louis.
vile and Nashville Railroads have
asked the Interstate Commerce Com
mission for authority to guarantee the
proposed issue of. $1,500,000 of first
and consolidated mortgage bonds of
n1l
Railway.
Washington, Baltimore and Annapo-
lis preferred advanced nearly points.
on the Baltimore market yesterday on
a sale of'only 20 shares, indica ting a
scarcity of stock on offer. The COM
mon stock was more active, but moved
up only seyen-eighths of point.
Farm Aid Asked--Other Notes.
President Coolidge has requested
Congress to appropriate the $4,000 900
already authorized to provide for the
eradication or control Of the European
corn borer, which is growing to be
as much of a menace to the corn
belt as the boil weevii is to the cot
ton belt.
January totaled $675,482, against
was shown despite fact there was no
increase in number of plants.
Bennett, Bolster & CoghilY. Inc, an
nounce they are offering the last
block Of undistributed shares of Roxy
Theater Glass A stock, priced at $40
share, and with each three shares
Of Class A stock there win be de.
livered one share of common stock.
The dinner given by the officers and
governors of the local institute chap.
ter at the Raleigh last evening was
complete success. Many other plans
for expanding the work Of the insti-
tute were discussed.
Personal Mention.
w. w. Spaid of w. B. Hibbs & Co.
has been called to New York as wit.
ness in the Daugherty case now in
progress there.
Harry E. Mayer, q director of the
Bank of Commerce & Savings, is
on an extended trip to Egypt and
other Near East points of interest.
He expects to be away about five
months.
John +. Costello, Democratic ma
tional committeeman, has been elected
president Of the General Securities In
vestment Corporation, underwriters
and dealers in securities, with offices
in the Vermont Building.
Luis Bush, a director of the Bank
of Commerce & Savings, who is
on a pleasure trip to the West Indies
has arrived at Havana, according to
word received here by Cashier John
M. Riordon.