Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-02-28
D: C. BANK CLEARINCS INDICATE
BETTER TRADE IN FEBRUARY
First Two Months of the Year Well Ahead
of 1926, Figures Show-Other
Finance Notes.

day observed here and two in many
other cities.
Local Securities Are Strong.
strong on the Washington Stock Elk
change. Five shares Of Riggs National
Bank sold at 465, 10 shares Of Union
Trust changed hands at ECO. which is
a new high on the present move, while
stock of the National Bank of Wash
ingten also reached a new high mark
on a sale of Ave shares at 288. The
stock closed at 2S6.1-S on a 10-share
turnover.
Capital Traction also reached a new
high for the present year when IS
shares changed hands at 1914. Mer-
chants Transfer & Storage came out
at lola and Washington Gas Light
sold at 1918 to the extent of Is shares.
Washington Railway & Electric IS
came out at S4as and the same
ington Gas IS brought 101A. while
the IS, series B. brought 105, and the
same company's 6s, series A, 1881
for three baby bonds.
l.. T. Watts, vice president OF the
Credit Mems Association and local
credit manager of the Standard Oil
Co. Of New Jersey. will address the
association forum meeting this eve
ming at the Raleigh. on Handling an
Order" Chairman John Z. Moore Of
the educational committee announces.
The committee expects large at
tendance, as Mr.. Watts has had wide
experience in the credit field.
Richmond Banker to Speak Here.
The third forum dinner Of the local
chapter, A. I. B., has been set for
Wednesday. March 9, at the City Club,
and the meeting will be addressed
by s. Young Tyree, assistant cashier
Of the State.Planters Bank and Trust
Co. Of Richmond. He will discuss
1.-THE Unprofitableness Of the Collec.
ton Department" Mr.. Tyree handled
a special study Of this question made
at the annual meeting Of the A. I. B.
at Dallas, Tex, last Summer. So
many local banks are making a care.
full investigation into this phase Of
their business that there is certain to
be big turnout Of members.
Offer Made to C.. & o. Stockholders.
Stockholders of the Chesapeake &
Ohio Railway Co., which has been
made the nucleus for the long.planned
Van Sweringen billion-dollar trunk
line system, will be offered $4,000
shares Of new common. stock at par
on the basis of one share for each two
shares they now own. The present
market price for Chesapeake & Ohio
common stock Is $157, so that the sub.
scription rights for the new stock will
be worth. $l9 share.
This information was contained in
a letter to stockholders mailed by w.
J. Harahan, president OF the road.
which explains the various moves
made in .perfectfng the plans which
will consolidate the Chesapeake &
Ohio, Pere Marquette, Erie. Hooking
Valley, Chesapeake & Hooking and
Nickel Plate into a great railroad sys.
tenn. a~-v
d. & %. Operating Income Drops.
The January net operative income
of the Baltimore & Ohio Railroad de.
clined to $2,917,429 from $3,OS1, 625 in
January, 1926, but gross revenues were
slightly larger, $1s.6s7.44S against
$19.5Ol,S
The railroads business showed an
increase compared with the same
month last year but passenger traffic
was lighter.
Heard in Financial District.
President John Poole of the Fed.
eral-American National Bank, is back
at his desk after a long business trip
to New York.
The local delegation attending the
Inner Saturday night Of the New York
chapter. American Institute OF. Bank
ing, reports delightful affair. About
1000 were present at the Waldorf
Astoria.