Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-01-29
ny EDWARD G. STONE.


Stock Exchange yesterday and closed
at 114ss. a gain of - OF a point over
the closing quotation OF Friday. and
also an advance of 5is points curing
the present year The stock opened
at li41a. sold off to ia and then ad-
vanced To 1l4Hk. Market observers
ascribe the recent rise in traction stock
to merger possibilities on highly favor
| able terms which have recently been
considered brighter than for several
tailed % shares.
Peoples Drug Stores preferred also at
tanned a new peak price on the local
exchange yesterday. gaining - a point
and closing the week at l03l2, Poto-
mac Electric Power 51s per cent pre-
ferred was strong ut I0814, District Ma
tional Bank stock sold at 245. American
Security &; Trust to the extent OF %
shares at 450. Fifty shares OF National
Mortgage and Investment preferred
changed hands at Sd.
Bonds were also strong, Potomac
Electric Power IS making new high
by selling at l0834. This was an adj
vance OF u point over the best pre-
vious sale Washington Gas Light s
per cent bonds, series A, sold at l06
and 1861.
The newly listed Washington Arcade
Co. 81, per cent bonds were quoted on
the ard for the first time with 100
bid and l0l asked. The washington
Consolidated Title Co.'S 6 per cent
bonds also appeared on the list. the
bid price being %. The same corpora =
tion's stock went on the board with
| a bid price OF so and an asked price
! Of So.
When the unlisted securities were
called yesterday an unusual number OF
| changes appeared in the quotations.
! THE asked price on Cosmos Club AIS
was advanced from 76 to 30. City Cluo
Re were lowered from SIS to SO bid.
while the bid on District Title lnsur-
ance Co. stock was moved up from
"a to as. The bid on Munsey Trust
was also raised from ISL TO 1855:
The bid on Northeast Savings Bank
| stock. which has stood at II for some
| time. was raised to 10. The bid on
park Savings Bank stock was advanced
| 10 points TO 20. while the stock OF the
| Washington Base Ball Club showed a
gain of S points in the bio, wnicn was
quoted at so, with an asked price Oh on
Convention Committee Heads Named.
The chairmen OF all important com
mittees for the next convention OF the
District Bankers Association were an.
no,,nced Yesterday by the general
chairman. Edward J. McQuade. Plans
| for the biggest event of the year In
local banking circles will now go Tor
| ward with q rush as each OF THESE
cha,rnen will appoint his assistants
| in the near future. the appointments
made yesterday are as follows:
General convention comml.tse-
Edward j. McQuade. wee presioent;
| Frank Stetson. National savings O.
| Trust Co., vice chairman,
Progran.~-John NJ. Riordan, vice
| nrnsident Bank OF Commerce IL saw
inrs chairman. and Frederick II. +.
| Siddons secretary of the American Sc
c,ritv a. Trust Co. vice chairman.
rtainnent-Thomas w. Bra
hany OF Crane. Paris g. Co, chairman
and B. A. Bowles, vice president OF inc
Potomac Savings Bank. vice chairman,
Hotel-C. H. Pope. vice president OF
the Munsey Trust Co. chairman: ana
Robert S. Stun. Park Savings BANK
vice chairman s
Transportation--I.aur A. Slaugn-
ter vice president OF the Commercial
National Bank. chairman. and C. n.
woodward, president of the Mount
Vernon Savings Bank vice chairman
Soorts--Iuther Il. Schreiner, man
acer of the Dupont Branch OF the Mer"
chants Bank a. Trust Co, chairman,
and r. II. Cox. cashier OF the Com
mercial National Bank, vice chairman.
Publicity and press~-George O. Va$s.
vice president and cashier OF the riggs
National Bank, chairman. and James
A Soper, Cashier Of the Lincoln
National Bank. vice chairman
Ladies comnii.tee-Mrs. w. w Spa!d.
chairman. and Mrs. Robert v Fleming.
vice chairman.
Company Enters Insurance Field.
Washington will find q new Are IN
surance company in the local field
"Wednesday. The Great National In
surance Co, organized here IN 1926
and heretofore specializing In automo-
| bile insurance exclusively. viii extend
| its scope OF operations TO all lines OF
| mr. insurance beginning February |.
according u an announcement made
late yesterday by the president, Joseph
| A. Burkart.
The announcement was made follow
| ing a report by General Manager Spen-
Ger n. Curry that all arrangements for
handling IRE insurance have been sat
isfaetorily completed,
The board OF directors OF the Great
National authorized broadening the
| scope OF the company's operations at
| the December meeting. The interven-
ing time was spent by Mr. Curry In
the research work necessary for writ
| ing the new business. preparing the
necessary forms and making arrange
ments for the new personnel and equip
mcnt which will be demanded.
A survey Of the automobile BUSINESS
transacted By the company during the
year Just closed assures the manage
ment that the Great National Is nov
50 f,rmly entrenches In the specialized
business OF automobile insurance that
tf, new project OF expansion TO fire
insurance can be made with the ut
most safety and assurance OF success,
Mr. Curry said yesterday. The COM
pany will later expand into nearby
States
Traylor Would Reorganixs A, II. A.
Melvin A. Hraylor. last years presi"
dent OF the A. ID. A.. discusses the pro-
posed organization Of the association
In the Bankers Monthly for February
Offering these ak suggestions;
!. Leave four divisions as at present
but make them represent the present
functional activities OF American banks
This will mean that the four divisions
| will be the commercial division. the
81 fings division, the trust division. ana
the investment division,
q Permit every member bank In the
E.rn-osaI HILL, snl