Evening star., 1928-10-01

| 1UU. FOLOnldc EleC- &Exx[s#& .$SSsssS A$s&xS
trio Power 5l2 per
cent preferre
came out at 10834 a11Alaa'A
! and the per cent Karl w. Corby,
| issue sold at 1131s.
Five shares of Washington Railway
Electric changed hands at par.
| Mergenthaler Linotype sold at 1901:
and sold later at an advance of "a of {
| point. Lanston Monotype sold to tht
extent of 10 shares at 1872 and Peo
| pies Drug moved at 11412. Columbis
! Sand & Gravel again sold at 90. Only
one bank stock appeared on the boarc
| today, 10 shares of Second National
| selling at 270.
There were several bond sales record.
cd, last weeks prices prevailing. The
ex-dividend list of stocks was greatly
shortened by the payment today of many
regular dividends.
Title Company Opens for Business.
The recently organized Capitol Title
e. Guarantee Co. threw its doors open
for business this morning at 1425-29
I street northwest, scores of bankers
real estate and other business men
crowding the offices throughout the
forenoon. Business friends fairly buried
the place with flowers. Visitors were
much pleased with the new and up-to-
date offices.
In addition to the issuance of the
usual certificates of title and continua-
tions of title, the company offers an
index service giving minute informa-
ton on outstanding deeds, deeds OF
trust, liens and other papers of record
affecting real property, and will also
render reports on judgments, lunacy
bankruptcy and probate proceedings and
any liens affecting property. Another
feature is general ownership reports
showing the number of properties in
any one name.
The feature of it's service attracting
the widest attention is title insurance
| In many large cities few transactions
involving the sale of real estate take
place without such insurance, though
the value of title insurance has been
realized only within the last few years
The officers of the company are
John Paul Earnest. president; Ezra
Gould, vice president: Eliot H. Thom-
son, treasurer. and George B. Spring
Ston, secretary. The directors include
all of the officers and F. Charles La
Sale Bryant, Mark F. Finley, L. S. Lips
comb William B. Parks, Luke C.. Stridel
and William C. Taylor
The capitalization is S750,O00 of +
per cent cumulative dividend preferred
stock and $4,000 shares of common, nc
par stock.
New Partner Takes Desk at HibbS.
Karl w. Corby became an active
partner in the affairs of W. B. Hibbs
g. Co. this morning when he took his
desk in the Fifteenth street brokerage
house. Mr.. Corby is one of Washing
tons widely known business men anc
was formerly very active in the business
of the Corby Baking Co. j. Thilmar
Hendrick also joined the Hibbs firm
| today, the former District Commissioner
becoming silent partner
It was reported yesterday that the
HibbS Co. plans extensive Office changes
to make room for present plans for eX-
pansion, both on the street floor and
in the upper offices. The boardroom is
to be much enlarged as one Of the first
moves.
Local Bankers at Philadelphia.
About a score of Washington bankers
have gone to Philadelphia to attend
the American Bankers Association con-
vention. When asked for his views or
business conditions, Thomas r. Preston
part:
IT believe the Nation is economically
sound in virtually all departments
Agricultural prospects are good; indus
try and employment, except in one OF
two lines, are active, and commerce Is
vigorous. Inventories of goods are not
swollen, and although prices generally
are somewhat higher than a year ago
1 do not think they have reached the
point of imitation
THE stock market presents mixture
of sound and unsound speculation, and
it is to be hoped the better phase will
prevail. Interest rates are high be-
cause of the very active competitive de-
mand that has developed coincidental-
ly with the shrinkage of our reserves
through gold exports, but there is as
yet no actual money stringency, and
believe the supply of credit will be ade-
quate to carry on the Nations Fail
business. The political campaign has
not been an unsettling influence in
business.
II feel that the present era may b.
| considered one of reasonably well dis.
tributed prosperity and that the yea
Will continue along the same lines"
Local Financial District Notes.
Representative Charles A. Eaton O
| New Jersey will address a gathering O
| statesmen from the General Electric Co
| who will be guests Of the local stat
at the Columbia Country Club Tues
| day evening Among these attending
! from the head Office will be w. j. Dali,
and j. r. Green.
A conference of bank auditors ant
! controllers, being held in Philadelphia
| in connection with the bankers con
vention, will be attended by the follow
ing representatives of the District O
Columbia conference: j. Damn FabeI
American Security & Trust Co.; R. A
| Cissel, Commercial National Bank
Arthur J. Linn, Federal-Americal
National Bank; William NJ Harris
Lincoln National, and Earl Eaycoch
Riggs National Bank.
Reserve Board Reports on Sales.
Department store sales were season
ally larger in August than in July. TIL
| increase, however. was slightly less thai
that which usually occurs between Jul
and August and the Federal Reserv
Boards index of department store aile
which is adjusted for seasonal change
declined from 103 in July to l06 il
August. Compared with August of las
year sales averaged about per cen
smaller. large part of the declin
from last year was due to the fact tha
sales year ago were much larger tha