Evening star., 1928-11-26

Power 512 per cent ssSSs &sSSs
preferred sold ex- ss ss Ss
dividend at 103la. 1aAsaa2
Washington Gas Charles r Howe
maintained its re-
cent new high of 106. Railway I
Electric preferred, also ex-dividend, sol
at 1894 for a single share.
Riggs National Bank warrants wer
active, but sold off slightly The
I opened at 315, dropped to 31O an
closed at 308, the last transaction GOV
ering three full warrants. Federal
American National was the only othe
bank stock out, eight shares changin
hands at 1856.
1 Barber & Ross common sold at 2:
In the bond division Anacostia & Pc
tomac Railroad SIS brought 96, Wash
ington Gas 5s, 103b. The A and ]
gas bonds in small denominations sol
at recent prices.
| c. E. Howe Holds Enviable Record.
Charles E. Howe, treasurer of tlf
! American Security & Tust Co., hold
an enviable record among Washington
bankers in that he is now roundin:
| out 35 years service with the Saml
institution. One of the foremost bank
erS in the city, Mr.. Howe has held hi
| present position as treasurer for tn,
| post 18 years, during which, period tht
bank has made rapid strides.
| MIR. Howe is a native of Miffiintown
Pa, and began his career in that place
! as a general bank messenger where hi
did everything from looking after The
fire in the Winter to acting as paying
teller, bockkeeper, note teller and Otter
serving as cashier. And it is interest
! ing to note that he started to clint
the financial ladder under the guidance
| OF E. P. Parker, who was at one Tins
| president of the National Metropolitan
| and the Columbia National Banks III
| this city.
During the 80 years that Mr.. Bell
was president of the American Security
| & Trust, Mr.. Howe was one of his
! most active coworkers. While Mr.
Howe is too modest to talk about him.
self, any who's Who" covering Wash
| ingtonians shows that he is member
OF the University Club and the Chevy
Chase Club. He also holds law de-
gree from George Washington Univer-
| Sity and stands close to the top IL
Masonry, having attained the S2c
| degree.
Bankers Change Convention Dates.
A change in the dates of the 1872!
. American Bankers Association conven
! ton at San Francisco to September 80
/ October 1-3, in place of the origina
dates of October IA to II, is announced
by F. N. Shepherd, executive manage
Of the organization. The original date
were set to avoid conflicts with othe,
previously scheduled local events a
San Francisco, but a satisfactory ar
rangement has been worked out ant
the new convention dates will permi
| the delegates to the American Bankers
Association meeting to avail themselve
OF the more favorable Summer touris
railroad rates for which the ticket-pur
chasing period regularly remains opel
until September 80 each year.
Reserve Banks Action Pleasing.
Local bankers who are personally
| acquainted with George L. Harrison
! just appointed governor of the Fedora
Reserve Bank of New York, are greatl,
| plIlsed with his selection. He has beer
with the Federal Reserve system sine
| its organization in 1914 He prepared
for college at Western High School il
this city, graduated from Yale in 1911
and Harvard Law School in 1914.
Following his graduation from la,
school, Mr.. Harrison served for a yea
as legal secretary to Justice Olive
Wendell Holmes of the United State
Supreme Court, and his first position
with the Reserve Board was as assist
ant counsel. He rose to head counse
and recently as deputy governor h
has kept in particularly close toucl
with foreign banking affairs His ne,
| position is considered one of the mos
important banking posts in America.
The directors of the New York Re
{ serve Bank did not announce his salary
The late Benjamin Strong, whom h
succeeds, received $4,000 year.
Business in Fifth District.
Latest reports from the business stu
alton in the fifth district make a specia
| note OF an increase in cotton conSump
ton in the textile mills. It was tn
best October in history, largely due t
| the Government report indicating n
burdensome surplus of cotton this yea
Retail sales in october in the dis
I trict exceeded those of the same mont
last year by is per cent and were
per cent better than in Septembe
Collections for the month improved, %
per cent OF the receivableS on the book
on the first of the month being calle,
against 27.3 per cent in 1927.
Stocks on hand in retail stores we
lower by 2.6 per cent than in Octob Z
1927. The textile uncertainty cav 81
stores TO limit purchases in that lin
the minimum in many cities in Il
southern part Of the fist district are
C. & o. October Net Improves.
October net income of Chesapeake
Ohio was $3,918,352 after tag es an
charges, comparing with S2,72-, .592 j
October. 1927. Ten months n5t, incon
was S23,461. $50, comparing Nth S25
757,69O in first 10 months Of 1927.
October gross. . =. s12,2lo,171 . s1i,7744s,7
IS sRs;s1l9s RsPRs sssiss
| 10 months gross. 103.334,fjH 1l4773 6
srsss sssF dRsPass ssss5S
"After sinking fund approo riations.
Heard in Financial District.
President George A. Harris of Il
Potomac Joint Stock L1md Bank is
Roanoke, Va. on business.
!, The Interstate Con merce Commi
sion has received a protest from Il
Business Protective Association of Ba
, timOre against the J5. & o. acquirir
the Western Maryland Railroad.
Dun's Review reJ lorts holiday ira,
: opening earlier tn in usual which
considered an indi tation of an exec,
aonally heavy turnover of goods in tt
-etail stores.
RAILROAD EARNINGS.
NEW YORK, November 26 CR.-T
Great Northern. Lehigh Valley and Pc
= Marquette railroads reported increas
net operating income for the past
months over the corresponding 10
period.
Great Northern reported $25,343,4 Al
against $X2,903,235 in the first
months of 1927.
Pere ~ arquette, $S,965,353, again
S8,3S3,377