Evening star., 1928-10-22

! activity in t he Edson p. olds
stock has not been
explained. 1t was kicked around" as
brokers say, all Summer, but recently
! has been returning to its oldtime form
! Today'S feverish trading has turned
| attention to what the next financial
statement may contain regarding earn
ings.
Peoples Drug and Sanitary Up.
Before trading started in Mergen-
! thaler, the other type stock, LanstOn
/ had been more active than usual, 10C
| shares in five transactions changing
| hands at ia.
Peoples Drug Stores preferred made
q new high on this move, when it SOLD
| at 100. SiXty-two shares sold at this
| figure and go more at 119t2.
Sanitary G1Ncery preferred made an
! other new high mark when two 100
| share blocks came out at $50. This was
/ a Jump of points over last weeks close
Railway & Electric preferred sold al
| 10014, Potomac Electric 512 per cent
| preferred moved at 100, the per cent
preferred at 1875 and Chestnut Farms
| preferred at 109. Chaplin Sacks pei
cent preferred moved at 1865.
! Capital Traction and Washington Gas
! Light bonds sold around recent levels
Easier Credit Predicted in 1929.
General business thus continues tc
weather, with conspicuous success, the
! present period of tight money, says the
| Alexander Hamilton Institute. If easier
/ credit conditions develop at the begin
/ ming of next year, as now seems prob
| able, well sustained business activity
seems assured during the first quarter
of 1929.
The combined sales of 20 chain store
companies in September totaled $685.
| 476,000, as against 02192,000 in
August, an increase of 1875 per cent
Chain store sales in September this year
were 23.8 per cent larger than for the
same month last year, when they totaled
! SIP, 1865 900. The combined sales OF
three mail-order houses in September
were 15.5 per cent larger than in
August and 218 per cent larger than
! in September last year. The combined
sales of SOB department stores in Sep
tember were SO per cent larger than
| for the same month last year.
Dry Goods Business Improving.
| Notwithstanding the abnormally warm
weather in various sections of the coun-
! try, the movement of textiles continues
to reveal a seasonal broadening. The
| gains, says Duns Review, extend from
retail channels through to manufacture
| ing branches. and the better conditions
are being manifested in different ways
Some of the industrial centers are ex-
periencing larger demand for goods
while buying in agricultural localities
has been stimulated by favorable harvest
| returns. Where supplies are scant, due
| to the policy of purchasing only as the
! 1,or NV fnY
quick deliveries, and prices although
not changed much, are flrmer.
Banker on New England Tour.
Edison B. Olds, vice president ano
! treasurer of the Union Trust Co., is TAX
! ing his annual vacation on motor
tour North, his trip taking in New
England. Mr. Olds is one of the most
/ experienced bankers in Washington anc
| has been with the trust company fol
many years. He is "a genealogist a:
we'll as financier, and not long age
wrote and published fine book cover.
! ing the various lines of the Olds family
The book was rapidly taken by tht
members of the family and is also tc
be found in many of the leading IL
braries in the country.
Check Payments Above 1927.
Measured by the volume of checI
payments business during the weel
ended October 13, though showing {;
decline from the previous week, wa
considerably larger than in the samt
period of 1927, according to the Depart
ment of Commerce. Activity in stec
plants was not only greater than a
any time this year, but showed a con
siderable advance over the correspond.
ing period of 1927.
The general index of wholesale prices
averaged higher than in either tn
previous week or the same week o
1927.
Smith Employees Enjoy Outing. :.
Over 800 persons enjoyed the F. Fl
Smith Co. employees outing and picni
Saturday Afternoon at Potomac Farms
Md. A picnic luncheon was served il
the open, followed by athletic contests
Many other features of entertainment
including a dance orchestra, added t.
the enjoyment of the occasion. Th
committee in charge consisted of Viii
liam A. Horn, general chairman; G. S
Buchanan, John r. Thomas, Edgar 3
Rouse and B. F. Viehmann,
Heard in Financial District.
President Peter A. Drury Of th
Merchants Bank g. Trust Co. was back
at his desk today after weeks visi
to Atlantic City.
The Missouri ri-Kansas-Texas. Railroad
is endeavoring to have the Interstate
Commerce Commission dismiss its an
THRUST complaint against the road
growing out of its ownership of st
Louis Southwestern stock. Formal ap
plication has been made asking tht
commission to dismiss hte complaint il
view of the withdrawal of the South
western merger plan from the com
mission.
The National Power g. Light &C
has declared the regular quarterl
dividend of IS cents on common, pay
able December l to stock of recor
November IL.
The District Bankers Association
council of administration holds It
regular monthly meeting next Frida
afternoon at headquarters.
Local bankers expect that the tota
amount of money placed III the Christ
mas savings club will reach as high a
$4,000, 900 next year. The prediction
passed >on the growth of these club
since 1924.
The Interstate Commerce Commission
is urged to reduce present refrigeration
charges on fruits, vegetables, berrle
and melons from points in Florida
Georgia, the Carolinas and Virginia t
destinations in eastern territory IN