Evening star., 1928-05-14
CAPITAL TRACTION
MARKET LEADER
Peoples Drug Pfd. at New
High, but Sells Off Later
in the Trading.
BY EDWARD C. STONE.

market started Off vigorously today
| with Capital Traction registering the
largest volume of trading. Traction
sold at 108la in five transactions in
volving just 100 shares.
Peoples Drug Stores preferred opened
the week at us. half point higher
than 1t has ever sold. It then dropped
to ll3 on small lot transfers. Sanitary
Grocery preferred came out at 1l0.
| Potomac Electric Power 5l2 per cent
stock changed hands at l08sl and 1882.
Washington Gas opened at 93A and
closed at 93Ss. Mergenthaler Linotype
figured In three l0-share lot sales at
l0l. 1914 and Is. Twenty shares
of District National Securities Co. pre-
ferred sold at los, a 2l2-point advance
| over the last sale. ailway q Electric
preferred came out at l02.
In the bond division Barber g. Ross
6l3s figured in a $4,000 transfer at 90.
Washington Gas 6s, series A, moved at
l06ss, and the B bonds at 1862 for the
smallest denomination. Railway d
Electric As opened at 93i2 and closed
with a $4,000 sale at 93$s. The mar.
ket closed with Potomac Consolidated
5s selling at 1882.
Nearly 200 to Attend Dinner.
The pre- convention dinner OF the
District Bankers Association takes place
this evening at the Columbia country
Club, nearly 200 local bankers and tneT
friends having signified their intention
of being present, according to- Lawrence
A. Slaughter, chairman of the commit
tee of arrangements. The dinner VIII
follow an afternoon OF golf, when many
members of the association are 10 COM
pete for prizes
w. w. Spaid. president of the asso-
citation, will call the gathering TO oroer
and Thomas w. Brahany has been
asked to take charge of the short pro-
gram, While there are to be no SET
speeches. several OF the distinguished
members will no doubt be asked TO MAKE
brief remarks The most important tea-
ture of the evening will be the presen-
tation by e. J. McQuade OF the con-
vention plans in detail. These arrange
ments have now progressed to state
where some very definite information
can be voiced.
Industrial Bank Opens Tomorrow.
The washington Wimsett Co, organ
lied to conduct an industrial banking
business in this city, will open its doors
for business at 903 New York avenue
tomorrow morning. Organization OF the
local company is in line with extension
plans along the Eastern and Southeast
ern seaboard, the company already OPP
Grating i4l such banks in the West.
The officials report that In other places
by far the largest number OF loans have
been made to retail merchants.
The ONCE here will be In charge OF
M
erston. who Is well known In Washing
ton. having been connected with large
mercantile and financial interests here
for the past 90 years. He Is especially
familiar with the credit here, as well
as with the local business situation in
general, and Is thoroughly experienced
in the operation OF the Wimset system
OF industrial banking.
Officers OF the Washington Co. are;
Austin G. Waller, president. Stephen II.
Takes. vice president: Wistar M. Ball
derston, Secretary-manager; John X.
Waller, Joseph A. Rafferty,. George e.
Furman. Roland s. Stebbins. Harry A.
Seay, William Symons, Charles d.
Hamel, Francis r. Weller, Richard d
Daniels. Austin c. Waller Stephen III,
Talkes. Samuel S. Clark. Frederick M.
Pelzman. James A. Councillor and w.
s. Walker, directors.
Bankers Meet at White Sulphur.
The board of governors OF the Invest
meut Bankers Association OF America is
holding the regular Spring session at
White sulphur Springs. w. Va. today
and tomorrow
Eugene e. Thompson OF Crane. Paris
g. Co, member of the board, Is in at
tendance. as is Paul v. Keyser OF this
city, counsel of the association
Brokerage Concern Expanding
1t was announced here today that
Fenner az Beane, the New York Stock
Exchange house that has offices at the
Willard. Is opening a branch office at
the Ambassador Hotel in Atlantic City.
a w Pennington, who has been con-
nected with Wall Street firms for many
years and was formerly with the Asso-
ciated Press. has been made manager
OF the office.
Seeks Si2,000.0O0 Stock Issue
The Chicago Produce Terminal Co.
has applied to Interstate Commerce
Commission for authority TO issue $l2,-
600 900 capital stock. which will be sold
TO the Atchison, Topeka a. Santa re
and Illinois Central Railroads.
Proceeds will be used in acquisition
OF certain real estate and In the COM
| pletion of 46l2 miles OF trackage Within
Chicago. ,a
THE proposednew lines are designed
To furnish terminal services in con.
neetion with the handling OF fruits and
| vegetables and other produce brought
into Chicago over all lines
Heard In Financial District.
President George O. Watson, OF tne
Liberty National Bank passed inc Ween
end at his newly acquired Suniii'si
home on South River. ,1.
Prank Owings. cashier OF the bailk
of Commerce az Savings spent llle
week end at his Summer place OH
Chesapeake Bay. - .,nr
president Peter A. Drury OF the Ms.~
chants Bank a. Trust Co. visited HIS
estate at Biuemont over Sunday.
w b. Hibbs, head OF the brokerage
house by that name, motored to his
country home at Eeesburg 10 apeilo
Saturday and Sunday.
Robert NJ Harper, president OF Lhe
| District National Bank. was another
| I,eeshlirg visitor yesterday.
G, j. Gockeler, vice president OF the
| same bank, took q week end rest AT
the Blue Ridge Rod and Gun Ciub.
| of which he Is member
| Harry v. Haynes, president OF the
Farmers AZ Mechanics National Bank.
recently appeared before the House
committee on banking and currency In
| opposition To the Goodwin bill This
| bin would permit States TO tax national
banks at the same rate as are state
hanks