Evening star., 1928-02-12
PEOPLES DRUG, |NC.,
STOCK HITS PEAK
Lanston Trading Heavy on
Local 'Change-Banquet
Committee Named.
BY EDWARD c. STONE.

washington stocks wound up the
week with Peoples Drug Stores preferred
reaching a new all-time high mark AT
lc5i.. LanSton Monotype entering new
high ground for this year and 1922 by
selling at ll0i.. Merchants Transfer
e. Storage preferred establishing new
peak for many months by registering
ioaa. and Washington Gas reaching
49,. In addition To these four advances
other local issues were very strong and
active.
Peoples Drug opened at l2s with sales
totaling % shares after which a To-
share lot changed hands quarter-point
higher. The low on the stock this year
is 1915. while the low mark In 1927 was
ln7. The price reached yesterday Is
the more interesting when 1t is recalled
that the stock is now selling eX-dividend.
Trading in Lanston was surprisingly
heavy. l76 shares figuring In the days
turnover. The stock opened at ITO and
stayed there during six transactions.
The next two sales were made at 1l0i4
and the closing l00-share transfer at
1loi2. During 1927 the stock sold as
low as 80 and the advance so far in
1928 has been from l0S.
Capital Traction Holds Advance.
Capital Traction held Its recent ad-
vance in Saturday trading. but failed to
gain the = of point TO hit ll6. Four
sales involving As shares were made at
1I57s. but near the close, 20 more shares
moved at 1l5's.
Washington Gas Light stock entered
new high ground by opening at SS'.
on 4o-share turnover. Later 100 shares
sold at 8Sls. Potomac Electric Power
sl2 preferred duplicated its high price
OF l0SA In lively trading. Columbia
Sand & Gravel preferred opened at
l05I. and closed at los.
Merchants Transfer & Storage COM
mon appeared on the board for the first
time in many weeks. selling at 125. The
preferred sold to the extent Of 10 shares
at lo9s.. Two bank stocks came out,
13 shares of National Bank of WASH
tngton selling at 3l0is and 10 of Mer-
chants Bank g. Trust moving at 1917.
Considerable bond trading was also
noted. Gas "A" baby bonds sold at
los. Railway & Electric Is at 92s.. Po-
tomac Electric First SIS at lolas and
ioIi4. Potomac Electric Consolidated
5s brought l03ss while the same cor
porationts 6s sold at l09
Leading Bankers on Committee.
II was announced yesterday by T.
Funton Leith. chairman of the ban
cuet committee for Washington Chap
ter's biggest institute event Of the year.
that the following prominent local
bankers will serve on the reception
committee. the dinner being set for
Saturday evening. February Is. at the
willard:
Francis G. Addison, ir.. chairman:
Charles J. Bell. B. Agee Bowles. Charles
D Boyer. r. Jesse Chaney. Floyd E.
Davis Victcr B. Deyber, Charles H.
Doing. tr.: Joshua Evans. jr.: William
J Father. Robert " Fleming. Harry
v Haynes. Ernest E. Herrell. John B.
Iarner. Lanier P McLachlen. Edward
J sscQuaee. Howard Moran. Roy L.
Neul1auser. Maurice Otterback. John
Slaughter. W. W. Spaid. w. NICK.
Stcweil Wilmer J. Waller, George 0.
Watson. George w White and e. Per-
cival wilson.
The committee sees the probability
of a record breaking attendance. The
individual reservations have come In
rap.dlv and several hanks always take
i7.ce h'ncks et t.ckets.
Prank J. Hogan. who will be toast
rna~ter promises only short speeches:
wf1iio Thomas ". B-ahsnv. master OF
ceremonies. is arranging program fuH
q surprises.
Lower Interest Advocated.
Wide interest is being manifested here
In the attitude taken by c. z. Mitchell.
president of the National City Bank.
that lover interest should be paid on
bank deposits .ir. Mitchell says that
there has been steady decline In the
yieid on the SECURITIES In which bank
funds are invested On the other hand.
be says operating expenses. In which
salaries and taxes are leading items.
have not been declining and are not
likely TO- II is evident that normal
income must be kept between income
and outso II the banking business Is 70
be maintained on a sound basis.
Current interest rates on deposits.
he adds. should be based on current
bank earnings. not on past profits. IL Is
ncs sound policy 70 cissipate such i,rofifs
b. running the bank or scale OF ez-