Evening star., 1928-02-26
NEW ISSUE ADDED
TOEXCHAN!GE HERE
District National Securities
Corp. Preferred Listed.
"Gas" at New High.

OF the DISTRICT National Securities Cor
poratlon.
The officers behind this corporation
are the same as those III charge of the
destinleS Of the District National Bank
The concern Is one of the many which
haze been organized by officers of local
banks for the purpose OF buying, selling
improving and dealing in real estate
The finance company was organized or
January is. 1927. SO is now well into
is second year.
The officers are Robert N. Harper
president: Horace G. Smithy. Joshua
Exams, lr.. c. j. GocSeler and Hilieary
l. Offutt, vice presidents; w. f. Lester
and Ralph p. Barnard attorneys:
/ Charles c. Rogers. treasurer. and B. L.
Cotton. secretary,
Washington Gas Market Leader.
Yesterday developed into gas day
on the local Stock Exchange. Washing
ton Gas Light stock scaling the finan-
cial ladder until it scored new
| high for the year. S3is. The stock
opened at IS fiat on a 36-share turn
over. Trading became very spirited
| and on small lot transfers it climbed
TO 3Si.. S3i,. SSa4 and 50 and on the
days last SAFE reached the SOFA mark.
The days transactions tota!ed l26
SHARES.
Railway g. Electric preferred came
| out a. lo3 and closed the week strong
at l03is. Capital Traction figured in
one l0-share sale at ll2. OF l point
| from Fridays close and 3 points OH the
weeks top price. Potomac Electric
Power 6 per cent preferred appeared
on the board at ilo'. and the 81. per
cent stock sold to the extent of five
shares at 1o7i.. Chevy Chase Dairy
preferred registered 1851, in one sale.
Bend trading was light. Capital
Traction SIS figured in a $1,000 transfer
at lo4'. and $1,000 Washington Gas
S, series B. sold at lo8i, The unlisted
securities were called off and few
changes noted. An offer of 20 was
made for Washington Base Ball stock.
the BID price remaining at As Chaplin
Sacks S per cent preferred strengthened
when the bid was raised from lG2 to
l03 with lo4i, asked. The bid on
District Title Insurance Co. was raised
from 30 to As.
Stocks OH the exchange now being
quoted ex dividend include the Potomac
Electric Power issues, Washington Rail-
/ way & Electric issues. Checy Chase
Dairy preferred. Lanston Monotype and
Sanitary Grocery preferred.
Life Insurance Sales Holding Up.
Sales Of ordinary life insurance for
the first month of 1928 compare favor
ably with the records of last January
A total volume Of s609. .226 900 was sold
in the United States this month by re-
porting United States and Canadian
companies This is a gain OF per
cent over the production of last Janu-
arp ana IS shared by most sections Of
the country. The gain for the II
months endtd January 81, 1927. also
amounted to per cent.
Sales III the Middle Atlantic section
are practically identical with last Janu-
arys volume. New York gained per
cent for the month. but sales in New
Jersey and Pennsylvania fell off
slightly. A 2.per cent increase Is re-
ported for the i2 months just ended
over the same p2riod last year
North and South Carolina lead the
other States In this part of the country
icr January with gains of % pei cent
each. The section as a whole aver
ages production 2 pcr cent better Than
that recorded for last January. Sales in
inc i2-nsonth period are practically
iScntical With last years record With
the best gain OF 10 per cen; reported
in North Carolina.
Reports c6,000 individual! Trusts.
Controller of the Currency J. w. Nc
lntisa in his annual report t:...uascd
shs reasons which impelled In. au-
tno-s OF the Federal Reserve act to
allow national banks 10 assume trust
operations. The saw" he says. the
advantages TO the public of making
available as trustees. executors. admin
i>tTators. 2tisTd.ans OF estates and in
. ether ncn1iary. capacities the one uni
led banking system IN the United
s.atfs h.gh.g standardized in its prac-
n@e and regularly supervised by the
Federal Government. They recognized
IN national banks an agency through
which trust facilities could be offered
/ ~ pFactlcaIiT every community in the
Nation.
How far the national banks have
penetrated the trust field is indicated
by the fact that the assets OF the in
| ois.caai trusts being administered by
.nese BANKS nov amount 10 more than
/ Si.ooo. 900. while corporate trusts
. amounting 10 more than s.. 500. 900 O01
/ are being handled More than 20 O00
nolsiodai trusts were being admins
| NFeo py national banks during the oast
/ year ''
! Weekly Wages Average s26.Gs.
! Per capita wages In industry are 81 "a
sboFe ihe a"erag: weekly pay per worker
~ 1924. according to review nv
FTazler .jelkc &; co. Employment was
AZ Inc lowest point IN FIVE years dur
/ Ihs 1877. bat the average pay OF fac
! 'pTy WORKERS today Is per crnt higher
man 1t vas three ytars ago, thr rcvlew
! 6!ss!oges ;"
Weekiy earnings averaged s2sG7 q,
ine end OF 1927. which Ia approx.ma,eJv
me same as IN: 1929 average WHIT
lne number employed In 1927 was .
PER cent under the 1924 total the ae.
sfeab pay roll o! the Nations indus
Iafs increased 2 per cen: over 1924
. ~ IL apparent that industries on the
"f''e are maintaining relatively hiph
caIhih. capacity Tor their employees. and
me lffiio If toward higher per capita
ea'nihss' "hethef employment increaaes
~ ctcfeahfs." The re9iew states.
Chaplin Sacks Officers Elected.
~ %"* pf@aBizailon meeting 0f the d.
Iee'cf* of In" cnaL.n -sacxs lee Ctesm
% Friday The following officers we're
tie,tf1 Tor the ensuing year r f.
ltfpH, lF, president. II J. Adalr vice
p'c.icef.t. j. f.. IA Adslf. vice presl-
dent. n. X Hsftheid. secretary il w
/ gs!'A"t iftaEufet Herbert De Pey as
Sisfai.t SECRETARY, and l.. H. Ogden, as
s)siant treasurer.
Cieaned Ia ftnaneisI District.
Roy f.. Young, governor oi the Fed
fjaj Eeaer#e Board, was one Of me
speakefs al the Institute oi Banking m
New HDft last evening Harold Sionier
'h@ hev rational educational director
ajs1 ai1Gke
Tue Directors III tbs atau!ey ca. ol
I Anft1@. me company win which me
CTahdau theateT Interests are associated
have leduced The dividend W a 81 oasis
ha1auke u policy adopted tor accu-
m1jstin2 sDbstentihi surplus
Reviewing retail trade for the first
pafl Ut the fiscal year, Frank Greene
says III The Nations Business Magazine
retail trade tor January, 1928