Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-08-16
TRAIN CONTROL CO.
EXPANDS FIELD
Miller Gives Railway Group
Right to Sell Device
Throughout World.
ny EnW ARD &. STONE.


Miller TrHin control Corporation.
wired The star today from New Yurl,
that under q licCus" agreement the
General Railway SEuai Go. has oh.
tanned from tn" Miller Train control
corporation TIA" right to mAnuiactur"
and sell exclusively the Miller devices
in all foreign countries.
The Miller system of train cont rOl
has not up to this time been used tn
any great extent in other countries,
50 that this new agreement opens up
| practically worldwide outlet for the
| sale of these devices.
II. =. Miller and his associates are
| greatly pleased over the signing OF the
| contract. They claim that the system
| is especially adaptable to the require
mcnts of foreign railroads and that
Railway Signals experience and in.
fiuence abroad will result in con.
stantly increasing demand for Miller's
output
Miller Train Control stool; is widely
held in Washington. The head office
| of the company is at Staunton.
Booklet Covers Local Securities.
Information of great value for the
individual interests in Washington
securities is contained in the second
and enlarged edition of Facts and
Figures on Washington Securities,
just issued by y. +. Booker & Co., in
vestment bankers, 1J0S II street north
west. The booklet gives q condensed
description of the capital structure OF
all the corporations whose securities
are traded in on the Washington Stock
Exchange, together with the price
range for the year ended June 30, 1927
1t describes in detail the various issues
of stocks and bonds of the Washington
public utility companies giving their
dividends and interest dates. Callahle
features. taxable status and shows the
relationship of the various stocks anG
bonds of each company
The booklet contains a tabuatiOr
giving the capital. surplus and undi
Nided profits of every bank in the Dis
tfict of Columbia. as of June 30. 1927
the dividends being paid by each banl,
and the high and low quotations fol
those stocks during the past j.
months. Information is included re-
Garding the various finance companies
operating in Washington as we'll as
bonds of the various clubs, office build
ings and miscellaneous companies.
An explanation of the effect of the
District intangible property tax on va
rious securities is given and it is stated
that stocks of Washington corpora
tons being exempt from this tax give
the investor approximately 10 per cent
greater net income than similar stocks
OF out-of-town corporations.
Local Bank Stocks Again Strong.
Riggs National climbed two points
to new high Of SOC today, while
Union Trust stock gained point
scoring new 1927 peak at ISL Amer
lean Security & Trust again sold al
its high of 421. Washington Mechan
les Savings Bank appeared on the
board at so.
The first sale recorded on the ex
change in Woodward & Lothrop pre-
ferred stock since it's listing many
months ago took place today when
five shares sold at 100. Capital Trac-
ton came out at 104H and 1O4, Po-
tomac Electric So per cent preferred
at 1929 and Railway e. Electric pre-
ferred was strong at 92I.
Bonds were active, selling at the
recent strong levels.
New RediscOunt Rate in Effect.
The Federal Reserve Bank at Rich.
mond today reduced the rediscount
rate from to 80 per cent, such &C
ton having been approved late yes.
terday by the Federal Reserve Board,
in session here. This move in the
fifth district follows similar action TAX.
en- a few days ago in Boston. New
York, Cleveland. Atlanta, st. Louis,
Kansas City and Dallas.
For some time rediscOunts in this
district have been showing losses in
comparison with previous weeks. The
rate reduction. it is believed, will
stimulate the business of the bank
which. at the close of the last bank
ing week had total resources of $685.
$4,000.
North Americans Earnings Gain.
The report of the North America
Co. for the 12 months ended June 30
shows net income OF S175O2 .575 after
interest. taxes and depreciation. which
is equal after preferred dividends To
S3.65 a share $40 par, earned on the
1927 ,835 outstanding common shares.
This compares with $15.026,077 or $3.40
share on 1882 ,225 common shares in
the previous ~ months.
Heard i'm Financial District.
William M. Seay, assistant cashier
OF the Federal-American National
Bank, and office manager of the Fed.
eral-American Co, is motoring to Nir-
ginia Beach. where he will spend pa TT
Of his vacation.
j. William Roberts, manager of the
Security Savings & Commercial
Banks branch on Fourteenth street.
has returned from his vacation. passed
at Blue Ridge Summit and at Cape
May, n J.
President Victor p. Deyber OF the
Second National Bank is planning a
three-week motor trip through New
England.
Francis G. Addison Jr., vice presi-
dent Of the Security Savings &
Commercial Bank. is back al his desk
after several days of most successful
fishing at Piney Point on the Po-
tomac.
Thomas p. Hickman. vice president
Of the Franklin National Bank. is
another banker making some big
angling records while he is the guest
Of w. II. Fl. Allen at Hillside, Me.
Mr.. Hickman is expected here tomor
row.
Charles J. Deinalt and Harry w.
Gauss, connected with the trust de-
partment Of the Washington Loan
& Trust Co, are on vacations. Mr.
Deinelt is at Orkney Springs, while
his banking associate is on motor
trip.
President Floyd F. Davis Of the
Lincoln National Bank is spending
weeks vacation at Virginia Beach.
President Harry V. Haynes Of the
Farmers & Mechanics National
Bank has returned from short va
cation spent at Atlantic City.
GERMAN BONDS AND STOCKS.