Evening star., 1928-04-03
MERCY ISLEADER
ON EXCHANGE HERE
Trading Is Heavy-Pepco s
Pct. Pfd. at Peak-Barber
& Ross Dividend Passed.
By EDWARD c. STONE.


price. The 5la issue opened at 10
and closed at 1856. Trade was heav
today ON the local exchange.
While the power stock was cllmbinl
higher, Washington Railway & Electri
/ preferred sold below 1903 for the frs
time in many weeks. Il opened with
l0-share sale at 1928. and closed with
another l0-share lot selling at l02i2
Capital Traction opened at l09h ant
closed at l0si2 on very small turnover
Mergenthaler Linotype was again th'
most active issue on The board. TN
stock opening at 100 on three sales TO-
talins IS shareS. II then sold at 100 fss
IA, s. aIio closed at l00i2. the day'
| turnover being IS shares.
! Barber & Ross common sold at IS /.
| for q fivessi1are lot and 10 shares oi
| Columbia SSand a. Gravel preferred
came out at I00i., the lowest price al
| which this stock has moved this year
FIFTY shares of washington Gas came
l.outT at SO. and Federal-Anerican Co
common sold 10 the extent Of 80 shares
In the bond division a $4,000 turnover
! in Washington Railway a. Elec'
| trio General 6S took place at l03l 2
while 4 $4,000 transfer In Potomac
Electric Consolidated SIS was recorded
sht s4uSS4..S satt
directors Pas. Dividend.
1t was announced In the local finan-
cial district today that the directors
of Barber & Ross. Inc. have voted
to omit the quarterly dividend due Al
this time on the common stock. The
action was taken TO conserve surplus
and because of the let-down In the de-
mard for building materials following
last years record-smashing construc-
ton operations. There are $4,000 shares
of Barber g. Ross common stock listed
on the washington stock Exchange, the
present selling price being around 25i2.
Hardware Age. In this weeks market
summary, reports that conditions in the
leading hardware market -centerS are
improving. Seasonal trade Is progress
ing with satisfactory averages, and
prices continue 70 maintain strong ten
denotes. the publication states. Building
is getting under way and causing good
demand for builders hardware. the re-
normal demand.
Lawrence TO Address Bankers.
David Lawrence. publisher of the
United States Daily and head Of the
Consolidated Press News Service. will
be the chief speaker at the savings
conference banquet. at Richmond
Thursday evening &C the Jefferson
Hotel. Mr.. Lave ence- VIII speak on
The Trend OF the Times" The news
paper writer will be one of four men
from Washington TO appear on the con-
ference program.
Another important meeting which
takes place In Richmond early next
week is the annual session OF the
stockholders of the Federal Reserve
Bank Of the fifth district. Many stock
holders among the member banks In
this city viii attend the meeting. John
Poole. president OF the Federal -Ameri-
can National Bank. is Just completing
a wears service as president OF this or
ganization.
Joins Crane, Paris & Co. Stan.
n. w. Carter. who has been connected
with the washington once Of the Cities
Service Co. for nearly i've years. and
resident manager for the past year. has
ioined the stan Of Crane, Paris q Co,
according TO announcement today oy
Eugene z. Thompson. Mr.. Carter II .
native Of Virginia. and has been ciosey
connected with the local financial as
trict for seven or eight years.
Business Somewhat Better.
A slight business improvement. with
a continuation Of irregular and spotty
conditions. Is disclosed In the monthly
reyiew of industrial and trade progress
by Prank Greene, In the Nations busi-
mess rnaaazfne, published by the Cham
her Of Commerce Of the United states:
BETTER weather late in February and
safly In March started up some lole ma
chinery. and caused slight reducton
In unemployment. but the raily on cary
December. while well maintained m n
such industries as steel and automoonea
Aid not gather force nor extend quickly
/ tn others In the way expected from the
unturn in these so-called barometer
Among the outstanding favorable
I feature" SAYS Mr.. Greene. was the
| Continuance. and even accentuation, OF
the high production In steel Automo-
bile outputs. excepting those Of Ford: IN
most cases set up new records, In !ate
February and early March slight let
up IN capacity was noted: pig iron Duy-
| ing dulled and scrap material eased on
/ fn price In both steel and automophes
the February output exceeded mat o'
| the corresponding month OF lsz'
Heard in Financial District.
| vice President Joshua Evans. 5r.. ol
/ the District National Bank. who " alsf
/ chairman Of the board Of the Washing.
TON Better Business Bureau, addressed
| the washington Ad Club At ik moor
! luncheon today on the subject, n
Bankers Views on Advertising"
| The Federai-American National Bani
/ Is distributing seeds preparatory 10 ~
annual flower show and prize contes'
| in August. The seeds this year arr
zianias asters and marigolds. :,
/ The Washington ONCE OF =. b. keecf
| a. Co, members OF the New YORK 6toct
Exchange. announces tnat haIIy r
| Eackett has retired as q general partner
| 10 become a special partner In the flrIr
| and that William r, Starr. member New
| York Stock Exchange: Harold G. Strot
| and John j. Kearns have been admitted
as general partners.
Wholesale prices advanced 0ne-tentf
Of per cent during the week ended
March 81, according TO the index com
| piled by the National Fertilizer Asso'
| ciation. The slight advance was dus
| largely TO suifate Of ammonia, lumber
| gasoline. wheat. livestock. mixed fertil'
izer and miscellaneous.
The Bureau Of Agricultural Economics
/ estimates that during 1927 a total 81
efsy000 persons left farms In th'
United States 10 engage In urban en-
/ pioyment. as against an exodus Of 2,i55.'
/ 900 persons In 1929.
Il One Of the high spots al the Regfona
Savings Conference at Richmond vii
be- an address by w. Espey Albig. deput!
manager 0f the Savings Bank Division
Of the American Bankers Association
on Income Vs. Cost In Banking" Mr.
Albig spoke sL the conference here las
year and is always close 10 the bsnklni
pulse.