Evening star., 1928-03-23
Wall Street Briefs

NATIONAL CITY BANK. Stock OF
the National City Bank of New York
largest in the country, has risen 60 points
In the last two days to record price OF
$S25 a share on rumorS of q pending
merger with the Mechanics Bank OF
Brooklyn, which officials of both insti-
tutionS denied.
RUBBER EXCHANGE SEAT
Chester Cuppia bought his third men,
berShip on the Rubber Exchange of New
York at the high record of $4,000 from
E. Vail StebbinS. Mr.. Cuppia, who is
one of the governors of the exchange.
also bought the seat of I. B. Katz for
$1,000. Value of membership has ad-
vanced $4,000 since the first of the year.
Two seats arc being offered for sale at
$4,000 and $l0,500. A seat on the New
York Produce Exchange also was sold
today at new high of $4,000.
AMERICAN SHEET g. TIN PLATE.
Anticipating heavy packs of food this
year, Gamers are reported from the
Pittsburgh district to be taking greater
amounts of tin plate American Sheet
& Tin Plate has expanded production
of its tin mills to IS per cent of ca
pacity. Independent production is at
SIS per cent, up per cent from q few
weeks ago. The price of tin plate is
firm at $5.25 a base box.
SEARS. ROEBUCK & CO.-Sears,
RoebucE g. Co. plans the opening of
new retail store in Phoenix, Ariz.. early
in April,
SHE'LL PIPE LINE CO-Shell Pine
Line Co. in few months will equip
its pipe line from McCamey Tex, to
Gushing. Okla. with IA electrically
driven pumping stations equipped by
the Westinghouse Electric & Manufac-
turing Co.
COLLINS & AIKNIAN. - Collins g.
Aikman have orders for car fabrics
from General Motors. Overland. Hud-
son, Chrysler, Studebaker and Chand-
Ter, large part of which has been
booked in recent weeks, giving the COM
pany record volume of business.
ASSOCIATED GAS & ELECTRIC
Net income of Associated Gas & Elec-
trio for the year ended January 81
scared TO S6.l72.T42. after charges and
preferred dividends of subsidiaries, from
$3,s9S656 the year before.
REAL ESTATE ACTIVITY. - Real
estate market activity for February was
measured by an index figure of i89 in
a compilation by the National AsSocia-
ton Of Real Estate Boards from official
figures Of transfers and conveyances
in IL typical cities. The index
is 9 points higher titan that for Feb
ruary last year and IA points higher
hn~ Snr S1,fe
MAG MILL MACHINERY CO.
Mag" Mill Machinery Co. Germany,
has declared a dividend of 10 per cent
on the common stock for 1927, +. j.
Lisnan g. Co. reports.
INDUSTRIAL ACCEPTANCE COR
- Industrial Acceptance
reports net income of S9l9,-
$50 for 1927. equal after preferred divi-
iendS to 81 63 a share on the common,
against $3.50 $40. or S2.47 a share. in
1926. During the year the corporation
purchased bills in excess Of s75.000.00o
and showed earnings before taxes of
81 009, $50.
WESTERN MARYLAND.-F February
surplus OF the Western Maryland was
1853. sos after charges. against S229,07l
! year ago.
ENGINEERS PUBLIC SERVICE
Of SIS, ,000, 900 for Engi-
neers' Public Service Co. Is proposed
oy directors. which win save the COM
oany $3.50, 900 annually. All the COM
oany's 311 ,662 shares of outstanding 81
dividend preferred stock viii be re-
deemed at Sli0 share and accrued
dividends on Judy 2. mainly through
the sale Of 500, 600 shares of SIS dividend
preferred and the balance
provided by sale Of 100000 shares Of
common stock. Stockholders viii take
action April IL. The new SIS perferred
viii be convertible into common stock
on sliding scale