Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-09-11
TRADING EXPANDS
ON DC. EXCHANGE
Utility Bond Issues in Good
Demand-Stocks Show
Activity.
by EDWARD :. STONE.

BY EDWARD :. STONE.
Fall trading on the Washington sto
Exchange continued to expand toda
with bonds Llaying an important pa
in the days transactions. The utili
! issues were in particularly good deman
| Capital Traction SIS opened the day
trading at f01. There were five tran
actions. the turnover involving $500
IN a s10.500 turnover in Washingtc
Gas IS the price paid was 1903.
washington Gas IS. series A, in sma
denominations, moved at 1887, and tl
series B bonds changed hands at 10
Washington T-ilway & Electric Ger
eral Refunding 6s Sold at 1903, tw
81 900 sales in tt issue being records
The largest trading in stocks toe
place in Potomac Electric. Power 81
per cent preferred. which sold today
1854 on turnover of 20 shares. TIL
same corporations per cent preferre
sold at 112
Fifty shares Of Chestnut Farms Dair
preferred sold at l07 and Is shares {
Washington Railway g. Electric pre-
ferred appeared on the board at 99s.
Federal-American Co. preferred sold q
102 and .02i,.
Mergenthaler Linotype. which is no.
selling ex-dividend. changed hands a
par. while Lanston Monotyl the othe
type stock. sold to the extent of 81
shares at lis. Peoples Drug Store
preferred was popular, opening at IL
and closing at liza, the days sale
reaching So shares
Bus Earnings Reveal Loss.
The Washington Rapid Transit c.
has filed its report for July with tn
Public Utilities Commission. the figure
showing loss in net revenues for tn
month of $1.766.4S Total operating
revenues we're $43,32748. compare,
with operating expenses of S45, 093 .96
The company made much bette
showing than in July. 1927, however
when expenses were about $4,000 NOR
than income
Institute COnsuls to Dine.
With Robert v. Fleming. presiden
OF the District Bankers Association
as their guest of honor. the consul
OF Washington Chapter American In
Stitute OF Banking, will have their an
nual dinner tonight at the Raleigh
Harold D. Kraft will be the chief speak
er. Richard D. Norris of the Lincoln
National Bank, the chief consul, will
preside at the gathering and abou
60 members of the chapter, including
the officers, will be present.
Riggs National Declares Dividend.
At the regular meeting of the boar,
of directors of the Riggs National Bank
held late yesterday. the semi-annua
nf Oh L.
clared. The disbursement is payabl
on October Is to shareholders of rec
ord on September go Riggs stock i
one of the few bank issues in wash
ington which sells above $500 pc
share
Reserve Board Loans Increase.
The Federal Reserve Boards condi
ton statement of 635 reporting mem
Der banks in leading cities as of Sep
TENDER 5. shows increases for the weel
of $4,000, 900 in lonas and discounts
of S157 100000 in deposits. and of $50.
DOC. 600 in borrowings from Federal Re
serve Banks.
Loans on stocks and bonds. includin,
U. S. Government obligations. wer
$110.000.000 above the August 80 tota
at all reporting banks.
Wholesale Prices OF Slightly.
Prices of commodities during the
week ended September declined one
tenth of / per cent, according to tn:
wholesale price index of the Nationa
Fertilizer Association Six of TIL
groups showed declines. three SHOWED
advances and five remained unchanged
The larg--t declines were in building
materials. foods and textiles. Fats ad
vanced 1.8 per cent. grains. feeds ant
live stock, 03 per cent, and coal, o.:
per cent.
Union Trust Changes Completed.
The extensiv3 addition to and sweep
ing changes and Improvements in tn,
original Union Trust Co. Building arr
now practically completed. the banl
now being operated under the new ar
ransement for both officers and per
sonnet, It is quite probable that tn,
directors will select some special tim
in the near future for welcoming othe
bankers as well as the general publi
for a complete inspection OF the new
quarters. The greatly increased spac
gi''es the trust company exceptionally
fine banking facilities and adds anothe
institution to the large number of loca
banks which have doubled in size in tn
recent past.
Heard i'm Financial District.
william D. Hoover, president of tn
National Savings & Trust Co., is re
ported to be having a fine outing il
Maine, much of which he is spendin
fishing in the Rangeley Lake region.
George E. Fleming. vice president G
the Union Trust Co.. is on an extende
trip to Europe. having sailed the latte
part of the week from New York.
william l.. Miller. treasurer of tn
Thomas j. Fisher Co, got home fror
Europe yesterday, coming back on tn
Leviathan. He was at his desk toda,
Another installment on income take
is due next Saturday and preparation
are now being made by large taxpayer
to meet these requirements.
The woman's committee Of Washing
ton Chapter, A I. B. will hold the an
nual bank wonlan's dinner on Tuesda.
September Is. in Barber Hall, at tn
| Y. w. C. A., Miss Mabel v Royce, com