Evening star., 1928-05-09
STOCKS IRREGULAR
ON EXCHANGE HERE
Peoples Drug Pfd. at New
High-Washington Gas
Light Is Strong.
BY EDWARD c. STONE.

the Washington exchange today, some
issues selling lower. while two new peaks
were scored,
LanSton Monotype, which has beer
rejecting the recent splendid annual
report, registered 1l6 on an S5-share
turnover. The top price was made yes
terday, but not recorded. Peoples Drug
Stores preferred also continued its up
swing by a half point gain to 1925.
Washington Gas Light was strong,
opening at 92l4 and advancing to 90,
where 1t sold last week. At this price
one block of 100 shares and another of
so changed hands.
Capital Traction was off u q point,
so shares selling during the session at
107ia, a new low in this market.
Columbia Sand & Gravel also sold
lower today. opening at 81 for five
shares, but closing with a 30-share
turnover at 90.
Railway a. Electric preferred came
out at 1924, Potomac Electric 5ia per
cent preferred at l083s and Federal
| American Co. common at SO. Forty
shares of National Mortgage g. Invest
ment preferred moved at 5as
In the bond market Gas SIS sold at
| 1864, series A 6s at I06ia Railway g.
Electric 4S at 93Ss, and c. g. P. Tele-
phone SIS at l00ss.
Convention Speakers Announced.
Following a meeting late yesterday of
the District of Columbia Bankers con-
vention program committee, 1t was an
nounced by W. w. Spaid that Edgar
| l.. Smith, president of the Investment
| Managers Co. of New York and author
1 OF Common Stocks as Long Term In
vestmentS," will be one of the leading
| speakers at Montauk Beach. Mr.. Smith
made brilliant address at last Falls
A. B. A. convention at Houston, and
the committee is greatly pleased to have
| secured his services He has made a
special study of investment trusts.
Other speakers of note who will ad-
| dress the convention include Fred N.
Shepherd, executive manager of the
American Bankers Association: John
J. OConnor. manager of the finance
division of the United States Chamber
of Commerce: William H. Baden, trust
officer of the Washington Loan 81 Trust
Co, and District Commissioner Sidney
F. Taliaferro. All the men are well
worth hearing and are certain TO grip
the attention of the association. Other
high spots viii be aoded and Chairman
John M Riordon and his associates
promise that this part of the convention
will more than fill all requirements.
The other members OF the COM
nitGee include Frederick P. H. Siddons
American Security a. Trust Co, vice
chairman; Robert v. Fleming and Hill
leaiy G: Hoskinson, Riggs National:
Francis @. Addison, jr.. Security Savings
d Commercial, Victor B. Deyber, Sec
ono National: Joshua A. Evans. jr.. Dis
triet National: Albert S. Galley, Lincoln
National; John Poole and w. j. Waller.
Fecleral-American National: John D.
Howard, Seventh Street Savings; Harry
v Haynes, Farmers e. Mechanics Ma
tioial, and w. W. Spaid, president Of
the association ex offlcio.
Brokers Presented Second Bonus.
For the second time this year the
New York Stock Exchange firm of
Wright, Slade e. Co. with offices in the
Mayiower Hotel. have given a bonus
OF one weeks salary TO all Of its en-
pioyes The same procedure was fol-
lowed out at its main Office In New York
and all other branch Offices, according
TO William A. Scully, resident partner
Utility Company Seeking Loan.
Word has been received by the local
Office OF the Guaranty Company of New
York that the Toxic Electric Light Co.
Is negotiating with this firm for large
loan. The Toxic company has S24,000,-
600 OF three-year notes which mature
on August /, and the stockholders of
the company are to meet on May 10
TO approve q large issue Of secured
debentures All details of the loan have
not yet been worked out. Japan is the
third largest consumer Of electric energy
Ia the world.
American Ice Bonds Offered.
Directors OF American Ice Co. have
| authorized an issue OF s6 900 900 Of S
| per cent 25-year debenture bonds, the
| proceeds 10 be used for refundtng the
present S49l4,000 Of 8 per cent real
estate hrst and general mortgage bonds
and smaller underlying issues. Brown
Bros. 81 Co. have acquired the new
issue.
Aid Offered Banking Students.
| One hundred and sixty-seven coilegi-
| ate loan scholarships win be provided
| by the American Bankers Association
| Educational Foundation. 90 Of which
nov are being prQffered 10 II selected
colleges and universities in "a States,
/ II is announced by John Fl. Puelicher,
| chairman Of the foundations board Of
| trustees. The scholarship awards will
be available next Fall and will provide
/ recipients with loans of $3.50 To be
| repaid on easy terms following their
entry into earning business life
Financial District Brevities.
The District Life Underwriterg' Asso-
ciation holds Its May meeting al the
Gordon Hotel tomorrow noon, John r.
Cremen presiding, The executive COM
n1ittee Of the association entertained
National President Myrick at luncheon
at the City Club yesterday.
The ladies' con"7ittee In connection
with the conyeltA = Of the District
Bankers Associate had meeting and
luncheon at the Willard this noon, Mrs.
w. w. Spaid presiding.
Vice President Lawrence A. Slaughter
Of the Commercial National Bank has
been confined 70 his home with touch
OF the grip.
Pred Mckee, vice president Of the
Security Savings ~ Commercial Bank,
has returned from sn extended West
ern trip.
| President Fairfax Harrison Of the
Southern Railway, VINO has just return
ed from Europe, says reports indicate
progressive industrial conditions IN the
south. He looks for larger crops than
last year
The Union Trust Co.'s large addition
is progressing rapidly under the watch
tuI eye of y. j. EtllWagen, the bank :
president. The interior Of the present
bank is completely tedccorated at the
same time
Even a. You and l.
a fool there was and he saved his rocks,
| Even ~ you and !
But he took them out 0f the old strong
/ bon
When a salesman called with some
wildcat stocks
Ard fhE faGl Was NtYtg1ned aaYyta ia Mis-