Evening star., 1927-04-12
ARCADE CO. BONDS
ISSUE NEXT WEEK
81, 100000 6 IL Pct. Sink
ing Fund First Mortgage
OBLIGATIONS to Be FIoated.
BY EDWARD G. STONE.

BY EDWARD G. STONE.
It was announced today by Eugene
Il. Thompson, head Of Crane, Paris
& Co. that early next week this firm
will offer an issue of 81 400, 900 Wash
ington Arcade Co. first mortgage 6la
per cent sinking fund gold bonds.
dated April /, 9127, and due on April
I, 1912. This is one Of the largest
local bond issues to be brought out
in many months and viii arouse wide
interest in the financial district. The
Washington Arcade Co. is located at
Fourteenth street and Park road, the
Arcade Market being very widely
known. in that section of the city. II
is now expected that the new bond Is.
sue will be offered to the public next
Tuesday, when full details as to price
and yield, as we'll as all other com.
plete information about the sale, will
be published.
Charles j. Bell Honored.
Charles J. Bell, president of the
American Security & Trust Co., Gel.
ebrated his 69th birthday today.
The members of the Washington
Stock Exchange did not let the OPP
portunity pass to pay the veteran
banker q special tribute and at the
close of the trading session presented
him with basket of flowers, the gift
conveying the best wishes and con-
gratulations of his associates who be-
long to the organization.
The card accompanying the flowers
had "96" printed OH one side. Mr..
Bell seemed much surprised that the
card should place him so near the cen
tury mark After general laughter it
was explained by Secretary G. j.
Gockeler that 96 was the age the
members hoped he would reach. He
was asked to turn the card over, the
"69" putting him back in the young
sters' class.
There was an unusually large turn.
out of exchange members. Mr.. Bell
briefly expressed his hearty apprecia'
ton of the attention shown him. AT
50 he is still one of the most active
bankers in Washington and is enjoy
ing excellent health.
Railway Common Advances.
Washington Railway & Electric
common sold at 235 on the local stock
exchange today, a new high ON the
present move, the same stock having
closed yesterday at 230.
Farmers 4 Mechanics National
Bank stock also scored new high for
this year, when rs shares sold at 800,
the last sale having been at 2So.
Potomac Electric Power preferred
registered 109, Lanston came out at
95, Merchants Transfer & Storage
preferred changed hands at 1O012 and
100A, and 80 shares of National Mort
gage & Investment preferred sold
at 81.
Bonds were quiet, Washington Gas
% XXfh
the Series A bonds registered a
1,00O-dollar sale at 1O41s.
Bankers Meet Next Monday.
Bank officials and directors received
notices today of the annual Spring
get.to-gether meeting to be held next
Monday at the Columbia Country
Club. This will be the fourth gather
ing of the kind which the District
Bankers Association has had.
There will be a golf tournament
starting at o'clock in the afternoon
and the dinner will start at 1880.
Reservations should be made no later
than Saturday noon. The dinner last
year proved Of great benefit in pro-
noting enthusiasm over the associ-
atoms annual June convention ana
no doubt the same results will be
attained this year.
The committee in charge is made
I'D of w. w. Spaid, chairman; c. H.
Pope and Lanier p. McLachlen.
Directors to Be Bearers.
The directors of the District Ma
tional Bank are to be honorary pail
bearers at the funeral tomorrow OF
Josiah S. Tyree, who died Sunday. at
his residence. Mr.. Tyree was one OF
the incorporators of the bank and was
a director at the time Of his death. he
had taken the greatest interest in the
growth of the institution and his long
career as a successful business man
made his advice of unusual value.
C. & o. Stock Touches New High.
Common stock of the Chesapeake &
Ohio Railroad touched new nigh
record for the year of S171.5O snare
on the New York Stock Exchange
Yesterday, coincident with the publica'
ton Of statistics showing that the
road has built up a paper profit of
nearly SIS, 500, 900 in the recent sharp
advances in Erie stocks, 936, ,439 shares
of which it either owns or has under
option. The Chesapeake also has
paper profit Of about $2,525.00O in Pere
Marquette stocks.
An application of the Chesapeake &
Ohio Railroad to acquire control OF the
Erie and Pere Marquette Railroads,
6 mart Of the revised Van Sweringen
merger plan, now is before the Inter
state Commerce Commission.
Heard In Financial District.
The Washington Loan & Trust Co.
has been given such an exterior clean
ing that the building looms up like a
wholly new structure. 1t matches the
big extension now nearing completion
and makes this business corner one
of the most striking in the city.
Stephen I. Miller, educational dlrec.
tor of the American Institute OF
Banking, will be the guest of honor
on the occasion of the Spring meeting
of the Washington Chapter. April 90
at the Willard Hotel, according TO
announcement by #. Hunton Leith,
president of the local chapter.
Stein Brothers & Boyce are mem
hers of a syndicate offering an issue
Of 50 900 first mortgage 612 per
cent sinking fund gold bonds of the
distribution Terminal & Cold Storage
Co. of Cleveland.
The newly organized Washington
Bank Women's Club held most sue
cessful meeting last evening at BANK
ers' headquarters.
Frank p. Morse, manager OF Sehg'
man & Co, has returned from
business trip to New Orleans.
POTATO MARKET DULL.
C,rITCAcn Anru 10 (P)-Potatoes