Evening star., 1927-04-04
LANSTON LEADER
ON EXCHANGE HERE
Monotype Shares Open at
95 3-8 and Close at 95.
Bonds Unusually Active.
BY EDWARD G. STONE.

BY EDWARD G. STONE.
Lanston Monotype led broad trad
ing on the Washington Stock Ex-
change when the weeks trading open
ed today, prices for this and other is.
sues being strong. The stock opened
at 95ss and closed at 95 on a 100.
share turnover. Mergenthaler also
came out, one sale being recorded at
109. Capital Traction appeared on the
board at 1861 and closed at 1865
Railway & Electric preferred sold at
917s and Potomac Electric Power pre-
ferred was strong at 109. Merchants
Transfer g. Storage held at 1904
and the stock trading closed with a
10-share sale at 10SA.
Bonds were unusually active. Poto-
mac Electric Consolidated 5s sold at
1011z. Washington Gas SIS came out at
101 q, the same company's series A
bonds registered 1035s and later sold
in larger block at 1041a. The series 3
bonds again sold at 105. There was a
$4,000 turoover in Barber & Ross
AIS at SO. Another sale was also re-
corded in Southern Building 612s
at 100.
Land Banks Oversubscribed.
Oversubscription of the offering of
500, ,000, 900 of the Federal Land Bank
bonds before noon today was anounc-
ed by the Federal Farm Loan Board.
The new issue offered this morning
at Az per cent, dated May /, 1927,
callable in 10 years, and maturing
May J., 1858, will be used in a refund
mig program, which will include call
mig all AZ outstanding issues due in
1887, 1898 and 1889. The annual saving
ii, interest through the refunding
program is estimated at about $780,
900. Approximately $92 800, 900 Of the
proceeds of the new issue will be used
in redemption of the called 41as, while
the remainder will be applied by the
board to carrying forward the pro-
gram of farm relief authorized under
the law.
Penssy's Income Breaks Record.
The annual report of the Pennsyl-
vania Railroad for 1926 shows the
net income as $67,567,95S, the largest
in the company's history. 1t was
equal to 1853 per cent on the out
standing capital stock and was an
increase of $5,347,634 over 1925.
Railway operating revenues were
$709 ,817 ,449, an increase of $37 $780,
4S7 over 1925. Railway operating ex-
penses, including taxes, hire of
equipment, etc, were $603, ,384,692, an
increase OF $31,355.737.
The operating expenses included
$500, 100000 paid in wages to 21T,955
persons and $40,500 in taxes. The
nom operating income, chiefly divi-
dends and interest from securities
owned, was $39,890036, an increase
of $2,708,546. AT the end of 1925 the
company was owner of $56,823,2OO
e..
Railway common stock, compared
with 44,69S, 200 at the end of 1925.
General Committee to Meet.
Howard Moran has called a meet
ing Of the general committee in charge
of the regional savings conference,
which opens at the Willard Thursday
forenoon. for tomorrow afternoon at 4
o'clock at District Bankers Association
headquarters.
Advance arrangements for the two
day convention have now been prac-
tically completed 1t is announced
that many bankers will be present
who have not made special arrange
meilts. Baltimore is planning to send
a. large delegation to the sessions, but
these delegates have made no reser-
Vations.
President to Make Address.
President Coolidge and Secretary of
Commerce Hoover will be among the
speakers at the fourteenth annual
meeting of the Chamber of Commerce
of the United States, to be held mere
Nav 2 to s, the chamber announced
today.
The national gathering Of business
men has been called for the purpose or
discussing important economic changes
in the business life of the Nation dur
ing the last few years. The discus
sions will center around the major
topic, "The New Business Era.
President Coolidge's talk Will be de-
livered before a joint meeting of the
national chamber and the Pan-Amerl-
can commercial conference.
Cotton Mills Help Southern.
With the South surprising New
England in cotton manufacturing, car
Ioadings Of cotton factory products
on the Southern Railway are running
substantially ahead of last year. In
the first two months of 1927 such load
ings totaled $3.50 cars against 7,0IS
in the same period year ago. rms
reflects the fact that Southern mills
operate Ga per cent of the total active
spindle hours of the country. Eistl-
Mated net income of the Southern
Railway in the first two months was
equivalent to $1.15 q share on the
common stock, compared with S1,29
share in the corresponding period OF
1926.
Heard in Financial District.
Robert S. stunz, cashier of the Park
Savings Bank, has been made MEM
ber of the Lions Club.
r. Golden Donaldson, president OF
tbe Commercial National Bank, re-
ports that he had a most enJoyaple
two.month stay in Florida.
The oregon Trail half dollars on
sale at the Riggs National Bank are
finding ready demand. They are
excellent souvenirs. At least one
banker has used several Of them Tor
tins. to the great delight OF the re-
cipients..
gently made several changes III once
arrangements which have given the
of1cials much more room and at the
same time added to the attractlveness
The ESSAYS for the $50 Neuhauser
prize have been turned over 10 the
Judges by T. Hunton Lelth, lnstitute
president, and the winner VIII De an
nounced in the near future.
s. w. Straus & Co. are offering to-
day at par a first mortgage per
cent sinking fund bond issue OF
Sc 900 900 maturing March 21, 1943,
secured by the Ambassador Hotel Los
Angeles.
PRICES ON PARIS ROURSE.