Evening star., 1928-05-08
.LANSTON At PEAK
ON EXCHANGE HERE:
Sanitary Grocery and Peo.
Piles Drug Pfd. Also Reach
New Tops.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
LanSton Monotype sold on the Wash
ington Stock Exchange today for the
first time at lis; Sanitary Grocery
preferred reached new top at l2l. and
the new Peoples Drug Stores preferred
hung up a new mark at 49,
In addition@to these new peaks there
was considerable trading IN other issues
Capital Traction sold at l0S Gas closed
at ei34. Railway 81 Electric preferred
came out at l02 and Mergenthaler
sold at l0l.
Both the Potomac Electric Power
issues were strong, the 5l2 per cent
stock moving at l0Sas and the pei
cent at llSl2. Riggs National Bank
stock was strong. 10 shares selling al
$40 and 10 more at 522. Bonds were
talrly active at recent price levels
Peoples Drug Stores Sales Up.
Sales of Peoples Drug Stores, Inc
for the month of April were reported
today as totaling S9l3,622. compared
with S65l.l62 in April, 1927, an in
crease of $262, AGO, or 40.2 per cent.
Sales for the first four months of the
present year. including the new stores,
reached $3,29S,965. against $246l, 700 in
the same period last year, this being an
increase of S837. .266, or 81 per cent.
1t is understood that the company s
8 per cent preferred stock. which was
called for redemption on May Is. has
already been nearly all presented for
| payment, as the firm offered some time
ago TO take up the stock and pay the
dividend in full at once. This stock
was, automatically dropped from the
local Stock Exchange when the new
/! stock was listed.
Convention Committees Busy.
The entertainment committee ar
ranging the special features for the an
! nual meeting of the District Bankers
Association. at Montauk Beach, l.. l..
had meeting yesterday afternoon In
/ the boardroom at the Liberty National
/ Bank. The members of this committee
/ are Thomas w, Brahany, chairman; b.
Agee Bowles. vice chairman: Charles d.
/ Boyer. c. F. Jacobsen. Fred w. Mac
/ Kensie. Charles A. Mccarthy and
! Maurice Otterback. The committee Is
/ arranging something of special interest
/ for every evening, and will soon an
| nounce the completed plans.
! The ladies' committee is 10 have a
| luncheon at the willard tomorrow noon
at which Mrs W. W. Spaid. wife OF
!, the president of the association, will
preside The committee is arranging
several events about which the mere
men will have nothing to say and can
take no part. While the men are strug-
Cling with bank costs. interest rates and
many other baffiing problems. the
women propose to enjoy the freedom
which was won by their Revolutionary
ancestors.
Serving with Mrs Spaid on this COM
mittee are Mrs Robert " Fleming vice
chairman: Mrs. Wilmer j. Waller. Mrs.
Albert S. Galley. Mrs. Lanier p. Me-
Iachlen. Mrs. Edward j. McQuade, Mrs.
Frank Stetson Mrs c. H. Pope, Mrs.
Laurence A. Slaughter. Mrs. George o.
Vass. Mrs Thomas W. Brahany, Mrs.
Luther e. Schreiner and Mrs. Frederick
p H. Siddons
John M. Riordon's program commit
tee will meet this afternoon and IL Is
understood that tire convention pro-
cram is fast rounding into shape and
the speakers will be announced shortly.
Federal-American Bank Copied.
John Poole and the other officers of
| the Federal-Ameritan National Bank
| have been paid a distinct compliment
I by a bank In Southern city. This
/ bank obtained the permission and full
cooperation of Mr.. Poole and has just
| erected a new building like the Federal
American In every detail
The exterior of the building is just
the same in construction and style of
architecture as the local institution.
even 10 the installation Of a night de-
post box The similarity of the inside
Of the bank Is equally interesting. The
ceiling is the same, the Southern Bank
obtained the right to put In the cage
less counters and even the figures In the
floor design are exactly the same. The
customers desks and the furniture are
likewise similar. The directors even
changed their original plans and con-
structed elevated banking rooms.
Incidentally, Mr. Poole's cageless
counter idea is spreading rapidly In
other cities in the country. the Chase
National In New York being the latest
giant institution 70 adopt 1t
| Wholesale Prices Decline,
wholesale prices declined one-fifth OF
per cent during the past wek accord.
| ing TO the index compiled by the
National Fertilizer Association. The
| Decline was due largely to cotton. corn
oats, cattle. hogs. sheep, lard, butter
and hides. Advances occurred In pork
products, anthracite coal and fertilizer
Based on 1926 as 100 and 40 com
modities. the index stood at 9e,4 for
the week ended May S. 96.6 a week ago
so.s Two weeks ago, $50 three weeks
ago and 94s four weeks ago.
Mecari to BE Bankers Guest.
~ was announced today by Lawrenee
A. slaughter. chairman OF the pre-co,,-
Vention dinner which the District Barry.
/ ers Association ig 10 hold next Nor
/ Day evening at the Columbia Count,
/ Club. that Controller General J. r. Nc.
/ Carl VIII be the guest Of honor TIE
| occasion will give local bankers an un-
| siSual opportunity 10 meet In a social
way this high Government ofiiciai
Every bank ofleer in the association
mas been Invited 10 the dinner which,
slways draws a large attendance There
are 20 De no speeches, although the con-
/ yentiOn plans will be outlined large
attendance is assured. the Committee
making the request today that the rest
| of the reservations be sent in at once
20 that the exact number will be knowr.
Heard In Financial District.
Phliip VI. Brown Of the stock depart-
u1ent Of Eastman, Dillon H. Co. ls Wait
ing the Washington once, Of whIcn
Arthur Foraker IL the manager.
Charles O. Glover and l. A. Flein-
/ ing were among the financial GistfIeL
veterans who attended the opening Of
the X street branch Of Security gav.
ings ~ Commercial Bank yesterday.
The Federal Reserve Board announces
that Federal Reserve Bank Of Dalls.
mas established a redisc0unt rate of a.
PER cent compared with 4 per cent pre-
gl0Usiy.
The NcCTory Stores Corp has d.
elaTed regular quarterly dividends of
50 cents on common and class b com
mon, payable June 70 STOCK Of record
May III
The Federal Reserve Boards e0ndt- :
ZION statement of G43 reporting member
banks IN leading cities as Of May 2
shows increases fOr the week OF s229.
900 900 IN loans and discounts, Of $40 4.