Evening star., 1927-11-30

tOn1aC IelepnOne co. In washington
as authorized by the board of directors
of the company yesterday will involve
expenditures Of $42,950. This brings
the total amount authorized for such
additions and Improvements in Wash.
ington so far this year to $2,163 ,463
according to a statement just made by
Charles T. Clagett, general CONNER.
cial superintendent.
/. A. Fleming Is ~ Years Old.
l. A. ctPop'D Fleming, the grand old
man of financial Journalism, quietly
observed his seventy-seventh birthday
yesterday at his home, 2700 Connects
cut avenue, surrounded by many
friends who called to congratulate
him. Mr.. Fleming omitted his usual
reception this year, as he found this
event a little too much of strain on
his strength. But he could not keeI
his birthday secret from those who
have known him the most intimately
One of his many gifts was an inn
menSe bouquet from the luncheon
group of bankers.
The dean of Washington's financial
editors is still young in spirit and
his mind is as active as it ever was
His weekly articles on local and
world finance in The Sunday Star
are read with deep interest and en-.
joyment by thousands who follow the
trends in banking and investments.
For years Mr.. Fleming has kept up
with all the latest developments in
the banking world and in all his
writings has urged the average in.
vestor to consult his banker or broker
before taking any chances with his
savings. He has been one of the
most loyal supporters of the work of
the District Bankers Association and
has never missed one of the annual
conventions.
His is truly a most remarkable
career. For more than so years
Pop" has been closely connected
with finance. His first stem toward
fame as a writer was taken on the
Chicago Board of Trade at the age
of Is or 16 years when he handled
grain quotations. His friends say that
the most sensational news SCOOP
he wrote during his Chicago days
brought to public attention the great.
est corner" in wheat ever known
Investment Trust Shares Offered.
The first offering is being made to.
day OF the 30-year investment trust
shares, the Investment Corporation of
America, by A. s. Golden & Co, in
the Woodward Building. This cor
poration was recently organized by
Washington, Baltimore and New York
bankers and is headed by Rolfe f..
Boiling. vice president of the Mer.
chants Bank & Trust Co. The other
officers and directors include William
w. Bride, corporation counsel for the
District Of Columbia. vice president;
Ralph d. Quinter, referee in bank.
ruptcy for the District, trea surer, and
J. V. Tarter, secretary; Phillip De
Ronde, director Empire Trust Co.,
New York; George A. Garrett, part.
ner of F. B. Keecn G. Co, members of
the New York Stock Exchange; Allyn
5. Goulden, partner in ASS. Goulden
& Co., and Rowland c. Ringgold
Baltimore.
Underlying the investment trust
shares are SO listed stocks of substan
tial rating. In its announcement te
the public the company has listed
each one of the stocks, among ths
issues being railroad, public utility
food. automobile, telephone, oil, steel
retail trade. chemical, copper, leather
tobacco, sugar and q number of mis-
cellaneous shares.
Local Market Again Strong.
It came pretty nearly being anothe
''gas market" on the local exchang,
today. Gas 5s sold at 1O31a, the A 81
at 1864, and the B 6s at 107h. Ga
Light stock again commanded 85h.
One hundred shares of Sanitary Gro
Gerry preferred reached 103h, Potoma
Power 6 per cent preferred came ou
at 111h, and the 5h per cent issue a
| 1868. Sand & Gravel preferred soil
at 103h. Two shares of Capital Trac
ton appeared on the board at 1092.
Bank to Open Savings Club.
| Harry v. Haynes, president of th
| Farmers & Mechanics National Bank
in Georgetown, announced today tha
his directors had rented a store ad
| joining the new branch bank, at Wis
consin avenue and Warren streets
where the Christmas savings club TO
next year will be opened tomorrow
The new branch will not be ready 70
occupancy until later in the month
AS the Christmas clubs start all owe
the city December /, the Farmers [
Mechanics heads thought 1t wise t
make temporary arrangements to OF
fer the services in the new territory.