Evening star., 1927-10-07
SANITARY STORES
SALES SHOW GAINS
Constitution Revision Big
Matter to Come Before
Clearing House Monday.
BY EDW ARD G. STONE.

Sanitary Grocery sales for Septem-
Der and for the first nine months of
the present year are we'll ahead of the
similar periods q year ago, according
to tine first report made since the
preferred stock was listed on the
Washington Stock Exchange. Today's
statement gives sales for September
1t 81, .S95, compared with S1,393.-
063 in September, 1926. an increase
of S.3l per cent.
The nine months sales reached Sl2,.
191.79l against $l1.516.499 last year.
an increase Cf 5.S6 per cent. The
company states that the report in
cludes the September sales of the 40
Picgly-WieSlv Eastern stores, which
were acquired on September ]. The
sales of these stores for the month
amounted to S231,3SS, as compared
with S204.692 for September, 1926,
this being gain of 15.a per cent.
It will be recalled that the COM
nanv's preferred stock went on the
local exchange three or four weeks
ago and is now selling around 101 "a.
Clearing House Meeting Called.
The Washington Clearing House
Association will meet next Monday
evening. according to announcement
made by the chairman. Harry v.
HAYNES. and take up a lot of business
that is now pending.
one of the important matters before
the aSSocia ton is that of revising the
constitution. Chairman Haynes has
obtained a mass of information about
the constitutions in use by other clear
ing houses and it is expected that
, some of their best ideas will be in
corporated in the local governing
document.
It is also anticipated that the pro
posal OF forming an auxiliary clearing
house orga nization which will include
a group of nearby banks In Maryland
and Virginia will be considered, al
thogh this matter Is too important to
be settled at one sitting. Secretary
Devber has obtained a large amount
of data bearing on the amount OF busi'
ness these outside banks do directly
with Washington banks, how they
feel about entering such an organiZa l.
ton. and the probable total daily
check clearings He is ready to place
this information before the assocla-
ticn for consideration.
The Federal Reserve Bank of
Richmond reports that statlstlcs
on construction work revealed the
only serious weakness in August IN
the fifth district. Total valuation Tor
all permits issued in 20 leading cities
of the district was nearly so per cent
less than in August year ago. Ihls
decline has been felt in labor circles,
bv dealers in all kinds of building
materials, and in retail trade as re-
suit of the lower purchasing power OF
the workers in the building traces.
August was the eleventh consecutive
month during which the valuation OF
corresponding month of the preceding
year.
Ianston Hits Another New Peak.
Ianston Monotype climbed another
half point to a new 1927 peak on the
Washington Stock Exchange today
IL shares selling at 109. Potomac
Electric Power 6 per cent also made
new high mark when one share gam
ed n quarter of point and SOLD at
110&. Mergenthaler again sold at its
high of yesterday-115-on 25-share
turnover.
Eight shares of Riggs National
Bank stock changed hands at 5OS,
within two points Of the best price
of the year. Thirty shares of Com
mercial National Co. preferred came
out at 1O3 Columbia Sand & Gravel
was un to 1G1 and Merchants Trans
fer e. Storage preferred appeared on
the board at 102. Two 10-share lots of
Sanitary Grocery preferred came out
at 1O11a, fractionally lower than the
last sale of yesterday.
One share of American Security
Trust stock brought 473. Washington
Railway & Electric moved at 9S7s, the
closest it has yet got to par. Trading
in the bond division was confined to
Washington Gas issues at strong
prices.
Scholastic Efforts Rewarded.