Evening star., 1928-01-26
CAPITAL TRACTION
MARKET LEADER
Touches New High--Whole
List on Local Change
Strong Today.
BY EDWARD c. STONE.

shares
The whole market was strong. Gas
Light stock hit S6. Potomac Electric
Power issues sold at 1882 and liz.
Federal American Co. common register
I'd 50, Sanitary Grocery preferred was
I'D to i05Ss and Peoples Drug Stores
preferred moved at 1913.
Two bank stocks we're out. 10 shares
nf Commercial National selling at ESQ
and so shares Of National Savings &
! Trust Co. at SIS III the unlisted de-
rartment Chaplin Sacks S per cent
preferred came ont at los. Bonds were
strong but quiet.
Treasury Calm on Money Rates.
The Treasury issued statement to-
! day which said that the present money
market is running true to form ana
| that no strengthening in money rates is
expected until the usual Spring credit
demand sets in.
The raising of the rediscount rate by
the Chicago Federal Reserve Bank
from 3lo to per cent is not expected
by the Treasury directly to influence
the other regional banks. although Off
cials claim that eventually there will
be an equalization Of Federal Reserve
rates as market and money conditions
/ become general throughout the country.
Each regional bank deals with its
! individual regional problems. they said
| today. While one region may need a
raising or lowering of rates TO meet
/ some particular situation. it does not
| follow that the other banks need fall
! in line, although generally the same
! problems eventually will present them
selves throughout all the regions"
Marked Insurance Activity Noted.
Declaring that the growth Of insur-
ance is an unmistakable sign of faith
III the economic future of America. the
| United States Chamber of Commerce
reviews insurance progress during the
last year.
All forms of insurance. life. fire and
| casualty, have shown material increases
Life insurance now in force III the
| United States is estimated at s85.000.-
100000, while fire insurance is COW
ering property with a total value of
| $50, 600. 600, 600
The Chamber of Commerce points TO
the fact that in Is States proposals
| we're made TO legislatures for increased
| insurance taxes. which would have re-
| suited eventually in increased pre-
! miums. Only two of the suggested in
creases were enacted into laws
Standard Listing Rules Ready.
Eugene z. Thompson. president Of the
Associated Stock Exchanges. will attend
meeting in New Orleans next week
Of the associations board OF gover-
nors for final considera ton of the stand
ardized rules OF listing new issues on
the various exchanges. The matter is
considered one of the most vital prob
lens before the association and has al
ready been much discussed. It is hoped
that the standard rules will be adopted
later by each individual exchange.
The listing rules as now drawn I'D
call for great deal more information
than previously has been asked by
most OF the exchanges. In addition 10
the general information which is now
furnished. enough more facts will be
| called for TO show the exact financial
status OF any corporation wishing its
securities listed. A glance at the sheet
viii show If stock is callable. and. II
so. on what date and at what price
That Is question which many vet
eran traders often cannot answer off,
hand.
II is expected that the new rules
| will be great protection 10 investors
IN one city who are interested in se-
curities in another, most important
data becoming easy TO obtain.
Company Takes Over $4,000 Policies.
A. d. Carpenter. manager of the
Washington Office of the Sun Life AS
surance Co. OF Canada. has been noti-
fed Of the completion of the reinsur-
ance of the Western Union Life In
! surance Co. Of Spokane. Wash. This
| transaction represents one Of the most
| important events in the business Of the
! Sun Life of Canada in recent years
Thirty thousand policy holders will b.
ADDED TO the company, an addition Of
| ninety millions In assurance and twelve
million dollars TO the assets.
Many Take L. S. Treasury Notes.
| II is reported that holders Of third
! Liberty loan bonds 20 the amount Of
I ss03. .625 $50 took advantage Of the
/ Ireasury's offer 10 convert the bonds
! into ga per cent Treasury notes. The
| total amount Of the transfers has been
! received in reports from the Federal
! Reserve Banks. The New York FEEDER
! al Reserve district accounted for more
than two-thirds Of the total conversion
subscriptions.
b. a. o. Makes Fine 1927 Record.
With approximately sl050 a share
earned In 1927 on s2l5. 1877 900 common
stock. the Baltimore 4, Ohio had avail
able for common dividends just over
. twice actual dividend payments for the
year. The latter included So a share
On I,5i3.S30 shares and an equal
amount on 2.i5l s70 shares. total OF
| sii ola, 900 against a balance after pre-
/ ferred dividends 0f approximately s22,-
| 500, 900. The final balance Of mare
| than sii 900, 900 was applied 10 capital
( purposes. as Was similar balance Of
! $4,000, 900 the year before.
| Bankers Consider New Meeting Place.
| The question Of a meeting place for
] the District Bankers Association con-
penti0l next June lis nov claiming the.
! attention Of local bankers. who are al
+ ready preparing for this important
2atnering Most conventions IN the
past have been held At Hot Springs
( Va the Homestead proving an ideal
. setting IN one ~ The most charming
resorts in the Fast. There are som"
I members, however, who would Ike r.
go ~ some ney plsee this year, atld
; several afe BOW being considered, ~
this connection W w Bpaid. head Of
the ssssSciation r. J IcOuade. chair
man Of tne general convention com"
fni,tee Howard Moran. Ianief y. Me-
B<oA'fFf bI3l i9Htfy v gii'E %A'i I'afA7
nf week end 1T Mon'auk Point. Long
Island n Z. 10 sse nov well this p0pu"
lar resort meets the needs III the ashoci~
alton.
Heard IN financial District.
President john Il Cochran ~ tht
Franklin Rational Bank has gone "
F!oF.Ga aaeTe he viii spend shout figt
Sfft&
President Ena Gould ~ The Wash
ingbij Hect1SnlfA SaYIngs Bank vii
| Gepsu tonight accompanied by Char ies
| f. Burton tof months stay al Pain
| Jte3ch. Afs. Goiia VIII 3Diu iin IL
| tHo weeks
| Tiae DlAtTic' i3fe Underwriters A.,
| aJclation V1iI boid the January meet,