Evening star., 1928-05-22
TRADING IS HEAVY
ON EXCHANGE HERE
Railway Common Up Nine
Points-Gas and Capital
Traction Are Leaders. -
BY EDWARD c. STONE.

the hrSt time In some weeks WASH
ington Railway g. Electric common ap
peared on the board. 10 shares sellin
at 4Ss. an advance of points over tn
last sale. t.- ~ :
washington Gas and Capital Traction
were the market leaders, opening ant
closing at s5is, while 20-share blocl
moved at sSl4. Capital Traction opene'
at ZOE for three small lots. It thei
dropped OF q quarter Of point, al
S0-Share block selling at I0eS4. tn
days trading ended with . lo-Shar'
sale at IOSTs.
Lanston moved at the strong pric'
Of li6, Sand e. Gravel at 9S. Merchant
Transfer g. Storage at los, and Mer'
senthaler at 1924. Potomac Electric
Power 6. per cent preferred came ou
at iIlL4 and the 5l2 per cent stock a.
ioTls. closing at l07,
The bond market opened with Ana
costa & Potomac r. R. IS selling a.
1oi. A $1,000 Gas 6. series A. moved
ct los, while baby bonds IN this issue
sold at lo334 and l04. The B bond:
opened with q $500 transfer at loIt2
while the lower denominations In this
issue sold at 1854. Barber 81 Ross
6Iss registered 96. Chesapeake g. Po.
toYnac Telephone SIS sold at par and 70
Capital Traction SIS came out at 1882
and Potomac Electric Power IS, 1883
at 1o73z.
A. I. B. Essay Winners Announced.
The long-awaited ruling by the
Judges in the annual essay contest con.
Quoted by the District Bankers ASso'
cistion and open to students IN Wash
ington Chapter, A. /, B.. has been an.
nounced By President w. w. Spaid oi
the Bankers Association, as follows;
H r. Bisselle. Riggs National, firs'
urize: Miss Catherine M. Krieg, RlgEs
National, second; John F. Hillyard, NJ.
taonal Bank Of Washington, tniroT ano
John r. Keener. Riggs National. spe-
cial mention. The flrSt three M tne
list get trips to the bankers conven-
tion at the expense OF the paaAs DS
n uas the third time that H. T.
EisseIie has won first prize and ne re-
ceiyed many congratulations today. he
ls in the credit department az Riggs,
which nut him In an especially gooo
1,oSition TO deal with "The EStaonSn-
Tnent and Operation Of Credit bu-
rea,l." Miss Catherine NJ. Krieg Is tne
second woman to capture horlors IN one
nf these contests, Miss Lois M. Wnite
- ths Federal-American having gone
- ROT Snrinrs last year Miss KTieg
a. a GRADUATE of washington Chapter
yaSf chairman Of the womans COM
,.ittae mast assistant secretary OF the
rhsnfer and Is now recording secretary
of the washington Bank women .
J :Snln r. HilIyard, third prize winner,
in q graduate Of the institute ana nss .ns
continued active In the work OF Ine
rhas,ter. He broke into the limeignI
bv winning the contest back ~ Iszz. ~.
The young man who got nOnOIaDas
mention, John r. Keener, Is eMpaoysa
nj Riggs In the clearing house secsaOn. .s...
He was graduated from the Institute
with high honors. ., 4.
Eohert y Fleming and Harry v.
1FevTex rencrted that the essays we're
unusually GOOD and that they had con-
siderable difhculty In selecting the wln-
mars. The Judging Is done by numbers
ard the Judges have no idea VINO wrOte
af1y of the essays when they grace
them. Mr.. Fleming expressed great
sslrprfse when informed that the num-
berS showed that three out OF the four
lesdinr ESSAYS had been written py
employees In his own bank
Southern Diaries Deal Completed.
omctaIs of the Kraft-Phenix Cheese
Co announce that acquisition OF
southern Diaries. Inc. has been COM
pIeted, and that while no immediate
rnerger Is contemplated. q definite pro-
sraun Of diversincation and expansion Is
planned In the South. where the cheeee
company began operations about . year
ago and has opened factories ano
6atries in Alabama, Missouri, Texas,
Arkansas. Tennessee, Kansas and
Georgia. As both companies have here
tofore been operating In many Of the
same sections. the new working agree.
fnent, It is believed, viii permit SUBJ
stantial savings in operating costs.
Southern Diaries was incorporated IN
1905. when IL took over the capital
stock Of Chapin-Eacks Co. Of Washing
Ton. Later It acquired ice cream ana
dairy interests in Florida, Pennsylvania,
Virginia, Maryland. North Carolina and
Alabama. Kraft-Phenix Is Chicago
concern. with cheese. dairy and I1ayoEl~
naise nlants from California 70 New
York and Wisconsin TO Texas, as well
as In Canada. England and Australia.
shose whs Should Borrow Money.
At the recent convention Of the
Maryland Bankers Association, Prof,
q. w. Dyer Of Vanderbilt University,
Nashville. Tenn. quoted Henry Ford al
saying that 1.-THE only persons who
should borrow money are those who
don't need IT," He said one OF the
greatest needs Of the American people
and their legislators today Is education
in the matter Of borrowing and lend
ing, and said that money borrowed "a
bolster up bad business was bad Dor.
rowing and bad lending.
The farmers today are appealing to
Congress for loans which they are un-
able TO secsAe on any sound business
basis from the banks" Prof. Dyer
maintained. This situation IL highly
dangerous 70 the country besides being
unjust 70 the farmers themselves, fol
q business that cannot stand on It's own
feet ought 70 be abandoned"
Denial was made by Prof. Dyer thai
sny financial group controls any INDUS
Try. Capital Is too widely diffused. hs
said. and stated that even the greatesi
eorpoEations are obliged 10 compete iT
pleasing the public.
In And Out Of the Local Banks.
J William Harrington Of w. D. Htbb
~ Co is confined In q hospital, Wner,
ne vent for removal Of his tonstls. Nj
Harrington is one Of Wa&hingt0n's vet
eran brokers. having been manager 10
several years Of the brokerage hOusi
OF the late John l.. Edwards.
During the past week q total Of 81
financial inquiries have been answered
~ the Better Business Bureau as q re
suit 0f fn Before You Inyegt~Tn
sestjgate" program, bringing the tots
number Of inquiries answered 70 dat
TO 54e5.
The Departmental Bank claims tia
distinction Of having been one Of tn
very hFst banks In the country 20 max
losns " employees working on saiaFs
This bank has made such loans for sey
eFsi years.
The concert sponsored by the Inter
national Exchange Bank Sunday II th
sildiDgFfum Was an unqualified success
A host of Washington people enioye