Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-02-17
NEW H|GHLEVELS
IN LOCAL STOCKS
Peoples Drug. Traction and
National Metropolitan Gain
on Exchange.
By EDWARD c. STONE.

4
Today's new high marks OH tn,
washington Stock Exchange were scored
by Peoples Drug Stores preferred. Capt.
tai Traction and National metropolitan
Bank stocks. Peoples went to 1865 or
20-share turnover. while Capita
Traction made a fractional gain t
ll61s. Trading in this issue was very
light. however. only 10 shares chang.
ing hands. There were two small sales
in National Metropolitan at 405. about
points above any other sale this year.
Mergenthaler was active today. II
opened at 107is. went to s. y. and or
to IoS, sales totaling SIS shares Sane
& Gravel sold at 1885,. Merchants
Transfer &, Storage preferred at no
Potomac Electric 81. per cent preferred
at 1912 and Sanitary Grocery pre-.
ferred at 1861
There was considerable trading In
bonds. Gas A bonds moved at 1861.
Barber & Ross Gigs came out at 81
Railway & Electric IS registered 9334
and 81. Potomac Electric Consolidated
SIS 1885,. and Washington, Gas SIS 1851
The market closed with a $1,000 transfer
in Railway IS at l04.
Fifth District Rediscounts Drop.
Rediscounts in the local Fifth Fed
eral Reserve district dropped from s26,-
| $4,000 to sol $4,000 during the week
ending February Is. according to thu
reserve boards report The reserve
ratio was further strengthened rising
to The 64o6 from 6l.3 per cent the
week before Brokers loans in the IL
districts declined Sl5.635. 900. during the
| week S3Sl9.3S 900.
Bankers to Consider Convention.
The council of administration OF the
District Bankers Association will meet
next Monday, one of the most impor-
tant matters facing settlement being
the place of holding the next annual
convention. 1t may not be possible to
decide the matter puSt yet as a large
amount of detailed information has to
be available from many different
sources The general convention chair,
man. E. j, McQuade. is collecting data
as rapidly as possible and the other
bankers are awaiting his report with
wide interest. The other chairmen of
the subcommittee are selecting heir
assistants and the full committees will
soon be announced.
Utilities and Rails Compared.
Ability of the power companies to
make money even when general busi-
ness is depressed is demonstrated by a
compilation as to 1927 revenues of 95
representative companies made by the
Department Of Commerce. This shows
that utility gross earnings. exclusive of
| those of telephone and telegraph COM
panies. increased about Sl20.00U. 900 in
1925 or 6 per cent. In contrast with a
decline of per cent in railroad gross
operating revenues
Net earnings of the power companies
| increased approximately $4,000. 600
/ or 4 per cent while net operating in
come of the railroads declined IL per
cent.
General Motors Smashes Records
The General Motors Corporation for
! 1927 reports new record In profits and
safes. Net earnings OF $685.. 104. 626.
| after deducting losses of subsidiaries
! and preferred and debenture dividends.
| are equal to $i299 a share on the COM
mon and compare with S194.645. 462. or
| 5000 a share, for 1926. calculated on a
comparable basis. Sales. excluding all
| intercompany items. totaled 81 ,269. 5l9-
673. a gain OF S2I1 .366. 1886. or 20 per
cent. over the previous year.
There were manufactured and sold
at retail to users at home and abroad,
through branches. distributors and DEAL
ers. l,554.577 cars. This exceeded all
previous records by 338.75l cars and
showed an increase OF 279 per cent over
1925.
Dividends paid on the common stock
in 1927 aggregated Sl35.836,08i, OF
| which s73,939,478 were regular and
s60.8s6. sos were extra payments. The
latter included $40, 500 900 extra paid
| January 3 last. Total cash dividends
| paid on the common In 1925 were t03,-
930.e93.
| Total OF capital stock and surplus
| increased Sl23.477.765. OF which SEA-
| 3,593 Is accounted for by earnings
reinvested in the business and the bal
| ance Of S29. l04,l67 by the sale OF S25.-
100000 par value Of General M 5tors
| Corporation per cent preferred stock
/ In February. 1927.
Return From Trust Conference.
+ The Washington bankers who at
. tended the miowinter trust conference
in New York have returned home. The
dinner last night was attended by 400
bank and trust executives. Walter 8.
| McLucaS. head Of the trust company
division OF the American Bankers AS
ISOLATION, told the guests that ,ris,
companies IN this country now have
resources OF $40. 500. 900 900, a gam OF
| III per cent In the last decade. Per-
sonai trusts In the past four years nave
| Increased 374 per cent. he added.
Banquet Reservations STONED.
Reservations for the institutes an
nuai banquet Saturday night at the
Wiiiafd nave passed the 800 mark, and
No
reherying additional plates. The at
tendance viii surpass all previous rec-
ofcs. There were few less than ZOO
gueA1 at the dinner last year, which
ZIP TO that time was the largest turn
out recorded. A large number Of out-of-
,%o"n Vis'tors are IN be among those
i'present. Chairman r. Hunton Leith is
no" trying 70 arrange for the broad
casting of the entertainment features
Other Financial Notes.
Al the annual meeting Of the Posta
Telegraph Co Clarence H. Mackey sale
sfiat TIE acquisition OF radio organi.
zatlon placed the company in a posi.
lion 70 take advantage OF whatever de.
YeDps III radio, including teievision ane
me photographic transmission OF mes
aazfa, The company Ia making use o.
sDoft ware radio as supplemental
se.gice
. Ihe Federal Reserve Board report
2sz fewer bank failures In 1927 the,
In 1925 The total number was gs2
IA being niembsfs OF the Federal Re
| serve system
Bernard r. Nimro has joined the rea
estate firm u l., H. Charles a. Co, il
The mortgage Investment department
He "aS formerly with MckeeYer 4
Co.'s
L. u. Riddle, personnel director d
he American Security ~ Trust Co
Was one u the SPEAKERS ct the person
mel session At the trust conference Ii
keH Ycrk
Sun Life Reports Good Year.
The Sun LIE Insurance Co 0f Can