Evening star., 1928-04-29
510 NEW RECORDS
ONEXCHANCE HERE
D. c. Bankers Prepare for
Hearing on Fraudulent
Securities Measure.
BY EDWARD C. STONE.

AAA WI lES SNGuttttSS wa
before the Senate District committee
Tuesday and the hitting OF new high
marks on the local exchange by WASH
in9ton. Gas Light stock and Sanitary
Grocery preferred.
The bankers meeting has been called
by the president. w w. Spaid, Tor $50
o'clock tomorrow afternoon at head
quarters TO hear a report on senate
bin 1901. which was introduced by SEN
ator Capper and relates 10 the traudu-
lent sale of stocks or bonds, Spe-
cial request has been made that every
member bank be represented.
This measure, which is considered OF
extreme Importance to the District aims
to suppress fraudulent practices in the
promotion or sale of stocks, bonoS ana
d. other securities sold or offered for sale
within the District Of Columbia; to
register persons selling stocks. bonds or
other securities. and to provide punish
naent for the fraudulent or unauthor-
lied sale OF the same"
The fraud bill was introduced IN Con-
greSs at the instigation OF the Invest
Ynent Bankers Association. whlch al
the same time asked the approval and
active support of the District Bankers
Association 1t is believed that many OF
the eading bankers in the city VIII De
present. at the hearing Tuesday, start
ing at 3 O'Clock.
Local Stocks Hit New Highs.
Yesterday was an unusually busy and
tn,Dortsnt day on the local Stock EN-
ehance three new high records being
scored. Sanitary Grocery preferred COM
rletei a sensational rise OF 10 points
r;urinC the week and sold at l2o. The
c;av's sales totaled l62 shares block
OF 90 shares closing the session at lls.
The l0-point rise was made IN only
two days trading Market observers
say the advance is due TO the strength
of the common stock, wnicn Is oea'
IN on the New York Curb. The pre-
ferred stock is convertible into COM
mon at the rate OF three shares OF
preferred for one TO common, until De-
eember 81. 1882 The common closed
the week in New York yesterday at
$780,.
washington Gas went up 10 e734
after opening at s5. The stock entered
rev high ground almost every day dur
ing the week Yesterdays trading was
very heavy. $50 shares changing hands
in IS different transactions. The last
sale of IS shares was made after call.
The third new high for the day was
reached by Potomac Electric Power 6
per cent preferred, which sold at ia
for the first time The advance was
only fractional as this issue moves very
slowly. The 5i4 per cent Potomac Is
sue sold at 1882.
Eighty-six shares of Peoples Drug
Stores preferred sold at ll0, Lanston
also. sold at 10 and Federal American
Co common at 38lz. There was
turnover of $50 shares of National Mort
gage & Investment preferred at 5l7.
Riggs National Bank stock came down
from SIS to sic and Is, 80 shares being
sold The only other stock sale was
IN Chapin-Sacks 8 per cent preferred.
Bond trading was light. In the unlist-
- department few changes were noted
during the week The bid son Franklin
National Bank was Lowered from le0
b i5e The bid on Metropolitan Club
<s5 per- cent boI1dS was raised from
81 20 20, with 9s asked The bid on
kfiIIer Train Control was advanced from
to with "a asked
Bank Women Honor Miss Winfree.
Miss Mary j. wirfree.s secretary Of
ff7e Continental Trust Co. has been
highly hononed by her sister bankers in
the Bank women's Club. Miss VIM
free has just completed 20 years in
the profession and the clubs April
meeting was made the occasion for the
presenting of testimonial to her signed
surprised she expressed her apprecia-
tion Of the tribute and also spoke of
the opportunities in the banking field
now offered 10 women.
Miss Lois A. White presided at the
meeting and presented the framed
testimonial Miss winfree is vice presi-
dent OF this thriving club She often
attends the annual conventions of the
District Bankers Association and last
Spring was elected vice president for
the District OF Columbia OF the trust
company section OF the American
Bankers Association, it being the nrxt
time the honor had been conferred upon
n woman banker
Al the last meeting Of the American
Bankers Association 81 Houston paper
which she wrote on Wills" VAS read
and caused wide and most favorable
comment Perhaps the best proof Of
Miss winfree's ability is the number
cf women who daily call AZ the bank 10
consult her on investments.
Institute Examination Dates Set.
Students .4ns banking now are cram
ring" for the coming final examina-
9lonE for the year, the dates for which
have been set As follows:
Banking Fundamentals. under Eliot
RI TaOBson, Thursday. May 3; Com
raeFclal Law Bolitha j. Laws TnuTsday,
May 81 kegOalaDie Instruments, Ray
n1on6 p Dsckey "wednesday. May 2;
Standard BANKING, r. j. Donohue. Fri-
dzy. May 4 Credits. Edward J. Nc
cas1e Friday May & Trust Functions,
p Asl1by LeaNelk Friday. May g. Eusi-
ness FoYecaa1n0g Walter II. Dunlap.
T'huFgdsy. Ny 3,
Another matter of vital interest 10
the young bankers 10 sne annual ESSAY
cog1tegt The papers must be In
Nay ]. those obtaining first. second and
third places being rewarded with trips
70 the District Bankers Association
convention at NontaDk Beach, Long
Island,
CLEANED in financial District.
Sanitary Grocery preferred. which
sod ~ 40 yesterday. opened the year
or the local board st 10f
Local hank cIeafingS f0r the week
ending April ~ totaied s24.s3s 900.
compared with $50 ,iG7 900 the previous
week and off ~ per cent from the same
Seek 8 gssF sgo
The Norfolk n Western has declared
the regular quarterly dividend Of 81
pr share. payable June 10 - stock of
record May "a
The lz1aFf reporis ghow that the
peDnsyiysAa HAiifos1 nog( hes 727ls
stocko0sdGFE asa isacrease ~ 2e9 Their
average Fi1ydi1e Ii 81 shares
10 me ffta Federal FeseFge district
eiseounts totsie1 S2ey y4Gs 900 compss ed
WITH fz5 .f0s go ne previous week ard
1zzSI3G 900 q year sRo.
Opening ~ tnf Eseonc National 4
upb0Hu bfanci1 10 fE new building
EskeG place bogttOgFow while the Security
Eaa1res X Commercial opens rs neN
branch + week ssisF
virginia iron Coal H. Coke na6 .
FRS quarter ret loss Of $40 s3s sgsinsl
net ioss u Sez,z59 IN tDe fHst quarter
less year.