Evening star., 1928-03-19
WASHINGTON GAS
MARKET LEADER
Railway Preferred Also Ac-
tive-Peoples Drug Sells
Off Today.


AS the weeks trading opened on the
Washington Stock Exchange today
considerable interest was again mani
tested ii the action of Peoples Drug
Stores preferred which has been called
for redemption so that new issue may
be brought out At a lower rate Of in
fereSt. The stock opened today at 1876
where it closed Saturday. sold of to
rs and closed al i24l.. Trading. how
ever. vas very light, five different sales
being required to total 81 shares.
Washington Gas Light and Railway
& Electric preferred led the market in
volume OF trading. Gas sold at SO L
to the extent Of so shares. while so
shares Of the street railway stock
changed hands al I03l4 Federal
American National Bank stock came out
at 34l, Columbia Sand & Gravel pre-
fe-red al 104 and Sanitary Grocery
preferred 81 1861.
Mergenthaler Linotype. selling ex-
dividend. opened st l03aS and closed
8. l033*: 80 shares changing hands,
Bonds were quite active today, recent
price levels prevailing. In the unlisted
department Metropolitan Club AIS
$4,000 turnover.
Cotton Put in New L. s. Notes.
As a result of studies made by the
Bureau Of Standards the new bank
notes which are 70 be placed II clrcu-
,s<ior during the Government next
fiscal year viii be made partly Of cot
ton. Some al the paper currency now
in circulation has been made from the
new formula and its commercial use Is
being developed 20 the extent that some
insurance companies are using TINS col
ton paper on which 10 PRINT their
policies. From experiments which have
been made al the bureau, il has been
found that q mixture OF IS per cent
cotton fabric with linen gives better
product for paper currency than the
au-I3nen fabric which has been used
heretofore.
Tie current issue Of the Cotton Tex
tile Bulletin states that new linen and
cotton rags are used n making the
paper stock II the proportion Of 10 per
cert linen and 25 per cent cotton. Cse-
e! Life ot this currency has been IN
creased eyDsr.-er:ally more than 20
-er cert. Il Is believed that the life O.
f-is trnr-oved currency may De still 4u--
the- increased as the research L con-
- ed. II this 5e SO il viii add 20 the
s. 900 0oC which i Is estimated that the
Government Elu save BY the adoption
Q! smaller size tor its paper currency
The Treasury Department has &C
ceptec type Of paper developed ~ the
bureau as the standard currency paper,
which has high fiber strength as its
tnoa.red by the printing and i Eas
no grain. is folding strength n the
TWO u-irc.oai directions IS more than
6 900 double folds
The investigation vas begun when Il
~as found that the life Of dollar bills.
which constitute the greater part ot the
uzoer currency, decreased continually
azrT1 e 1924 when i Averaged Elk
months. Prior TO that the acreage useful
life Ct bill was % months. The Use
CT paper currency 1as increased three
fed during the last IS yezrE. and this
hzs required the manufacture every
rear O. 300 600 600 rew bills. weighing
nan-e than 400 to1s. 20 replace Tc-g2-
CIT currency. This annual replacement
ccsts 81 600 900.
Bankers Home From Convention
Washington bankers vino attended
the sere1e1 annual convention O. TIE
Reserve City Bankers 81 New Orleans,
which ended Friday even2-g. we're back
as r1eSy desks today. Among them Tere
Robert r. Fleming, president Riggs Ma
saorzI EaDk: Wilmer j. Waller vice
president Feceraa-AIerscsr National
Ez--- = Ea-neG. president Farmers
& Mechanics National. and Joshua
Evans. II, executsTe T1ce president Dis
tr3cs National
J. II. Mcintosh, controller o. the
currency, also aas returned TO Wash
..zg1o1. as szas r. G. Await, deputy con-
syosley q fke currency. 4. r. Eev1l1,
T1ee president q tie Riggs. and Frank
2. Morse. manager Ct Se!lgE21 &; Co.
wsert z-oxn 2seE Orleans 10 Florida 70
bal eas1c and 5ee nov pes1-aII pros
poets are shaping up.
Local bankers report that the n2os:
s-5e.esfa1g c15c1sS3o-s TOOK plaGe On
21Is-egs rates and bank costs. Other
subjects discussed were the District
Clear11g House EZz-a3neE Eyx:em." :"
ANALYSIS O. T-63yacual Accounts" 4"
What 10 Do With s.ae A1sI?SI& After
wo1 Get It. a1c ''Ws-eho1ses-
nuo15ty Depos33o-ses OE1oere we're
esec1e1 for Zex: year, william r. Argus
tire. vice president National Gnawnu
Ea1k cf Soe'or~ be11g made pTes5ce1t.
Feeds and Textiles Advancing.
Tao1ess3e prices nsve advanced
s.aga.3y 9o- ezca o. tf2e pas so1r weeks.
according TO s}3e index complied here
Go6ay by t1e National Fertilizer A6So-
clz13J1. TIE 1cga1ce for the past
week was og25y o9e~tes3to o. PER cent.
and was csae largely 70 textiles ard
1aocx. A. decI1yse o. 22 per cent o.
es-rge6 3s. t:se miscellaneous group. Que
10 r9zDoeg. Gos+ee ard tokacc1
Based o2 z4e commodities ard 1926
e. 10. gtae 2neex s.oo1 a. s5z PER cey3t
for Tae Seek ended March II. S55 q
week sgo. s. z mo weeks ago, s5 three
Eeekg S9e. s.3c esS tour geeks Sgo the
z1Yax40e FIR +f4e 4o2r weeks Del1g &sx-
sess@S4s u !. pr cent.
Reserve E>sard Discusses Credit.
prlTsse 31TeSooy6 a.s1 Industrial coy-
pJystEgg1s a&Te 1o11e 30 tt4e I'd u Wall
s5treet cgr.s2 fg4e feeesst tremendous
r21ck Ezcs@2:1ge sctsTit1 FIR tce s55r~
2.ge o. maintaining tk}e supply u CA.
E4ct4ey ~ garry 2sAfss~2t4lsa ss1 s}o@eEE
Sgc ooxs1s. 1S2e Feceysl Ee8sfe Bank
Es&ilettz. says .n Us reg<&&E monthly
ges3eT.
TIE Tol1uee ~ creS4t 1.&wn into tSae
Egoek 1azrKes operations va sye21e1 ~
Gfae og1g1e9aE1 IS fsgt 1soS. prominent
1s1exp1efoc ~ ka1FEen1 fsAaE4ce as4c &C.
os49o1les T-s@e 1lsz& .: 2a1eE. al l12s1s
11W WsA 1zec ~ av9s11 50 oGyJ g5g9 SOY
|ts2s reF<e@ acc4c t:5at s:5fefs&se -
psa<c@ct49a W A-llstsy a&c rs4zr&cteE~
1zec Ut Dfe1ss>g ysags4.as u tsse ye&:
s]sz4o@gt3 bofsye Gfze3<aes IL trace I'D
egx@n4sc.Fg ps-Ges L-ae Eefs4 s4Dsac.
Heard in fls2nejAI District
The E@AKsHckS CerpoF&ts2Es - k&ey-
1zss1 MS ceGaafec q rsg 14&F e<@rp1s3T
esYaces4G - Is leEE& 3 snare IL f.g
eszas T. 2x.e e44s& Il ce5ngH4>ts. pa y&9s1e
Eosa3 ! " G5e>ck ~ feccfc Nara Is.
f1F1s&tso34s were feses#es D<@&p fDf
1se nt.I~yeaF D.tzn MEETING n W&sa~
3kagEtzg CIR s.ef. Esneg1c@h Jt.5s4s],@ q
gsstxlslT VE4<ss EAkfH GGzee ffAca*
e1e11s3p zt tsse VaFrus2n j,sFk tAe2t@F
Cesgsf4ea}<t tof at4e fIFe7 &eEna&.eF s.5l ~
aHsfre<. trimmed ~ Z Is6} &s-c