Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-07-19

SIdAluiIlA dN Va ASC~ H<@><3<*E
cember 81 last con- E 3S#&
sisted of l62.500 .sSMz$3
no par shares of
class A and 235.000 J. Gales.
no par shares of class r.
! The consolidated income account TO
the second quarter shows net sales o
| 1881 .66i, compared with S2,3l3,73
| for the first quarter. Net sales for thu
! first half year amounted to S5.695. 800
| Expenses in the second quarter wer,
S2.76S.61l, against s2.i56,l2S in the frs
] quarter.
Wholesale Prices Declining.
Wholesale prices declined per cen
| from May to June. report issued b.
the Department of Labor states. but al
increase of per cent was shown a.
! compared with June. 1927.
! Farm products as a group declined
2s4 per cent, due mainly TO declines II
prices for barley. corn, rye, wheat, bee
| cows, calves. sheep, lambs. alfalfa
| timothy hay tobacco. onions and pota'
toes. Oats, beef steers and hogs. on the
| other hand, averaged higher than III
May.
| Of the $50 commodities for which
| comparable information for May and
| June was collected. increases were shown
| in log instances and decreases in liz
/ instances. In 272 instances no change
| In price was reported.
Moore Honored by Metropolitan.
| j. Gales Moore. auditor of the Ma
! tional Metropolitan Bank, was presented
handsome watch. appropriately en-
graved, yesterday by the board OF oil
| rectors. on the occasion of his colnplet-
| ing 81 wears of continuous service with
the bank Mr.. Moore became connected
with the Metropolitan In July, 1867. AT
yesterdays board meeting he was hearth
~ congratulated by President George
w. White and all the other bank Of
ficials who are In the city.
Mr. Moore is now confronted with a
puzzling problem-what to do with the
fine watch he has carried SO many
years and which still keeps first-class
time. SO good. in fact, that he is always
on time at the bank.
Heavy G. & o. Expenditures Voted.
President w. J. Harahan of the c. g.
o. announces that the road is to ex-
pend $2l.144.724 on an improvement
program throughout the system.
The major portion of this sum will
60 to Huntington. ". Va, where the
GAktCf- IL AcE &StVO0sVVp. ANNAA
" as much is to be used in the extension
of main line tracks.
improvements In the Richmond cal
shops are to cost s1,000.000.
Gain in June Life Insurance.
| New life insurance production during
| June was ILL., per cent greater thi'
year than in 1927. Such writings dur.
| ing the first half of this year were "a
per cent greater than during the CORE
spending period last year. These re-
suits are shown by a compilation by the
| Association of Life Insurance Presi-
dents The report combines the rec
ords Of new life insurance production
exclusive of revivais. increases and diyi-
dend additions-of A member COM
panies having 80 per cent ot the total
life insurance in all United States legal
reserve companies.
For the FIRST half OF this year new
ordinary insurance totaled s4,24l 005.-
600, against 81, 089. 1866 900 during the
corresponding period last year. gain
of 81 per cent.
Heard i'm Financial District.
Secretary Mellon has arrived in Paris
| He was accompanied by his brother and
other members OF his family and Is now
! staying at place outside OF the city
| where he went by motor.
Joshua Evans, IT.. vice president oil
| the District National Bank, is taking
| short vacation.
| Frank w. Stone. vice president of the
National Savings g. Trust Co., Is away
on his vacation.
Samuel insult viii be the guess
speaker on the Haisey, Stuart 4 Co
program tonight on The Public Utilit,
! Industry as Field for Investment"
william F. Merrill. formerly vics
president and general manager, hal
been elected president Of Remington
Rand, Inc. to succeed James H. Rand
ir.. who has been made chairman OF thu
beard
A surplus Of s13.757,3i8 for the frs
six months Of the year is reported bs
the Rumanian minister Of finance u
the legation here. Receipts for the frs
six months of 1923 amounted TO $780,
291. 3i0. while expenses for the sans
period totaled s72. $40. 492.
i Trading Heavy on Exchange.
Il Trading was unusually heavy on tn
Washington Stock Exchange today. witt
bonds leading In volume. Potomac
Power Consolidated SIS opened tn
market on $1,000 turnover at 102i2
Chesapeake a. Potomac Telephone s.
of Virginia sold at i04. Potomac Eiec
trio first SIS came out at 10oh. an,
Washington Railway g. Electric 4
moved at 90.
Capital Traction SIS figured In
$1,000 turnover at 1929. Bond tradinl
closed with Barber Il Ross 6ias selling
at 9414. During the session Washing
ton Gas baby bonds changed hand
below recent prevailing levels.
In the stock di ision Capital Trac
ton sold at l05as. Potomac Electri
6 per cent preferred at ma and tn
t5i2 per cent issue around lot. Fou
shares OF Sand f. Gravel preferre
moved at 9434 Lanston was off a bii
going at ii2 and Iii34.
Railway a. Electric preferred sold a
a9ia. The bank stocks came out. Com
u1ercial National registering q 30-shar
sale at 25B and Merchants Bank a. Trus
Co. To the extent Of 20 shares at ISL
washington Gas stock, now selling ex
dividend. was quoted today &c., BIZ
and 81 asked, with no transactions.
Clearing House Association Meets.
The Washington Clearing House AS
ISOLATION will meet al $3.50 this after
noon To make effective the new bylaw