Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-08-31
Bonds Feature on Exchange.


Trading in bonds featured the weeks
closing session of the Washington Stock
Exchange. Although the New York ex-
change will remain open tomorrow. the
local exchange will be closed as usual
on Saturday.
Capital Traction IS fell of a fraction
10 iOl IN two sales totalinr $4,000.
Washington Gas Is B" moved up from
prior sale Of 1866 To i07 on a $500
bond. Washington Railway a. Electric
as held firm at 923a There was a turn
over of $4,000 of Anacostia e. Potomac
Railroad SIS at o72.. drop of "a.
Georgetown Gas SIS fell off to 1898.
Federal American National Bank
was active on q rising market, 10 shares
going at 1856, and 20 more at $751;.
Mergenthaler held firm on two blocks at
zoos. Fifty shares Of Washington
Base Ball Club sold at 50.
Rapid Transit Report.
The report of the Washington Rapid
Transit Co, for the month of July, sub
mitted today to the Public Utilities
Commission, shows. in comparison with
the month of July, 1927. an improve
ment this year in both gross and net
revenues.
Total revenue for July was S43.S27.4s.
compared with s36926.8l, an increase
OF S6,40067, or 17.3 per cent above
July, 1927. Expenses this year were
S45,093.95, compared with S47,6ol. s2
last year, decrease of So per cent.
Taxes were S706.02 this year. compared
with S643.47 last year Net after taxes
/ was deficit of $2.472.50 this year.
compared with a deficit of Sii,3lS.48
Tor July. 1927. which represents an i'm
nrnycT7cyt Nf
charges this year amounted TO s3.os5 81.
compared with S2,307.70. the increase
being due TO purchase of new equip
nent last October. Net after interest
and joint operating items was a deficit
or So.f99.75 this year. compared with a
deficit of S12.749li last year.
Revenue passengers carried this year
totaled 4l6.37l. an increase of 4aloe.
or 1874 per cent over July last year.
Bus miles operated this year were l45.-
0ls.5. an increase over the correspond
Ing month Of last year Of l4,2545 miles
or 100 per cent
The table, which gives comparison
Of the first seven months of 1923 with
corresponding period In 1927. shows i'm
proVement in the item balance for de-
probation, dividends and surplus. -
which amounts to s43.3T496 for the
seven months II will be recalled that
testimony was presented at a recent
hearing before the commission showing
an expected improvement of ST. 900 in
the net results for the year 1923. II is
felt that the results shown for the first
seven months indicate that the i'm
provcment predicted at the hearing
some months ago will be accomplished
Federal Reserve Review.
The Federal Reserve Board In a re-
view Of conditions, found retail trade
was al higher level in July than Is
usual In Midsummer. Sales Of depart
mont stores and Of mail order houses.
after allowing for the usual seasonal
decline, the board found To be larger
than in June. The boards index OF de-
partFnent store sales, adjusted for sea-
aonsl variations increased TO 1913 for
July. the highest for any month thus
Tar this year. and the adjusted index
Of sales b. mail order houses was higher
than Al any previous tins.
Compared with July Of last year.
sales OF department stores we're 3 per
cent larger and those of mail orde,
houSeoe % per cent larger Sales of
different reporting chain stores, except
cigar ard tobacco chains. were from
5 to 10 per cent larger Rapid growth
in sales Of chain stores reflects ey-
pansi0n IN the number Of stores oner-
afed b. the chain companies as we'll as
changes IN the amount Of sales. Mail
/ order houses, 1t was said, are opening
| chain stores and other retail stores.
and the large incrcage In sales of those
, nrn1s reflects 10 some extent sales Of
those additional units.
Bankers To Attend Meeting.
Washington banks will be represented
a. the thirteenth annual convention of
/ the Financial Advertisers Association,
70 be held In Utica. ~. Y. September
II 10 20. Two Washingtonians are
listed among the speakers, David Law
renee editor Of the United States Daily.
and John Poole, president OF the Fed
eral-American National Bank, who will
| talk on the subject Analysing the
Market and Advertising Bank and
/ Its Services" Bankers expecting Ia
attend from this city include Mr.. Poole
Eliot H, Thomson Of the Washington
! Loan II Trust Co. who Is chairman Of
the advertising committee of the Dis
/ trici Of Columbia Bankers Association
! Robert l.. Father of the American
! Security 81 Trust Co and r. Hunton
I Ieilh assistant cashier of Security
Savings ~ Commercial Bank
/ Among the exhibits at the convention
viii be tao from this city. ~ posters
and exhibits used nv local banks in
cooperation with the national organi-
/ cation
Leon Tobriner general counsel IF ihf
( Federal-American National Bank. ha.
/ returned IN the city after an extended
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