Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-07-20
PRICES ARE STRONG
ON EXCHANGE HERE
Bankers Consolidated Corp.
Shares Are Offered on
the Local Market.
BY EDWARD C. STONE.

BY EDWARD L. STONE.
National Metropolitan Bank stock
appeared on the Washington Stock
exchange today for the first time in
many months. 1t opened at 1913 and
closed at 400. the days sales totaling
but four shares. And up to today
only three shares had changed hands
during the first six months of the
present year.
The only other bank stock out to-
day was Merchants Bank e. Trust,
which again sold at 1856, within
points of the high for the year. Capt.
toll Traction was firm at los, Potomac
Electric 51ss preferred at 1O1%, Rail-
way & Electric preferred at 92 and
917s and Washington Gas Light at
745s. Mergenthaler Linotype was
strong at 111h. National Mortgage
& Investment preferred was active
and there was one sale in the bond
division of Railway & Electric As at
S52.
Life Insurance Sales Gain.
Sales Of ordinary life insurance in
June in the South Atlantic States
showed a gain of per cent over the
same month in 1926. Sales over the
country as a whole were larger than
in any previous June on record. June
Gales in the South Atlantic section
totaled $68,201 900, Delaware leading
the territory. with Georgia and North
Carolina recording fine increases
The great financial loss to the bust
ness men in Florida is reflected in the
decrease in sales of life insurance in
Florida. For the month of June sales
are 81 per cent lower than in June
last year.
For the 12-month period ending
with June. Delaware leads all the
States in the section with an increase
of per cent.
Trust Company Stocks Higher.
Bid prices on the stocks of all the
trust companies on the local exchange
are higher than a year ago, according
to the recently issued Crane, Paris
financial review. On July /, 1926,
Continental Trust Co. was 90a91. On
July /. 1927, this stock was ITO bid,
none offered with the last sale at
110R. Since the first of the year AIS
shares of this stock were sold on the
exchange. A year ago Union Trust
Co. was 21Sa224. On July /. 1927, this
stock was 27S bid. none offered. On
July /. 1925. National Savings & Trust
Co. was 495 bid. none offered. On
CuIy i, 4JSi, ltIS SUCK was 0UodOS0.
American Security & Trust Co. showed
gain of 16 points in the bid price
over a year ago, from 376 on July /,
1926. to 1872 on the same date this
year.
The prosperity of the savings banks
Of the District is shown in the fact
that the stocks of few of them are Of.
fered for sale and that nearly all of
the bid quotations are higher than a.
year ago. This is true also of the fire
insurance companies.
Merchants Transfer & Storage per
cent preferred has been firm since it's
listing at prices ranging from par to
104.
In recent months there has been ex.
ceptional activity in Lanston Mono
type. Since the first of the year trans
actions were recorded in 2.219 shares.
A year ago Lanston was quoted GLASS.
The quotation on the LIST of July of
this year was 99%a1O0.
Mergenthaler showed a gain of u
point over a year ago in the BID price
-1O7Aa. in 1926 and 108 in 1927.
Southern Railway at New High.
Rejecting the improved conditions
in the South in recent weeks, Southern
Railway sold at a new high for all
time yesterday. reaching 134ss. In
line with the Baltimore & Ohio and
other railroads, it is reported that the
Southern may resort to new capitali-
cation plans in the near future and
thus give to their stockholders val
liable subscription rights.
Traders in the local boardrooms YES
terday also got thrill when Baldwin
Locomotive crossed ESQ for the first
time in history. Above $50 the stock
struck profittaking and came down
quite rapidly. How much manipula-
ton there is in Baldwin was shown
by the fact during most of the day
trading in the issue was not excep-
tionally heavy. At present prices it is
clearly "a rich mans stock"
New Stock Now on Market.
The Bankers Consolidated Corpora
ton of the District Of Columbia, Julius
l. Peyser. president, today is Offering
10000 shares of cumulative 6 per
cent preferred stock, par value $500,
and 100000 in common stock at
$3.50 per share. The stock is being
offered in units Of one share Of com.
mon with each share of preferred.
The new organization has opened
offices in the Investment Building.
Heard in Financial District.
President Wade H. Cooper of the
United States and Continental banks
is passing his vacation in the West.
He is just reaching the Yellowstone,
where he will pass several days. On
his way West Mr.. Cooper called on
his old frined. former Gov. Frank o.
Lowden of Illinois.
Eliot II. Thomson Of the Washing.
ton Loan & Trust Co. is passing a
few days vacation at Epping Forest,
near Annapolis.
The directors Of the American Sc
curity' & Trust Co. yesterday passed
resolutions on the recent death in
London of Capt. John c. Boyd, U. S. |
~. member of the board. His splen.
did qualities were specially mentioned
and his loss to the directorate deeply |
regretted.
s. w. Straus & Co. is Offering So, OOO..
600 first mortgage gold bonds of the |
United Properties Corporation, in
Houston. Tex, priced to yield from
5.75 to 6 per cent, according to ma.