Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-09-24

that 1t may have Iobn TT Ham,
been u1dervalued Jun" H. hah"A'
on the local exchange. It has recent
been one of the most popular and activ
stocks on the local board, its steady ad
vance having caused much comment
At today's session Washington Ga
also scored a new high by fractiona
gain to par. The stock opened at $685.
but the last three sales, involving 3
shares, were made at 100 Anothe
stock which reached new top was Sc
curity Storage, which opened at the re
cent price of 120 and advanced sever
points on the next three sales, to clos
at 1877.
i Only one Washington bank stock APP
peared on the board, and that stock
American Security & Trust, scored ;
new peak. The last sale in this issu,
was recorded at ass. Today the stool
opened at 400 and closed at 462. Mer
chants Transfer & Storage preferred
was up point from the last sale, anC
other issues we're also strong and active
In the bond division there was alst
considerable trading at recent levels
The number of local securities now sell
ing cx-dividend is the largest in weeks
Hanna to Address Association.
| COAA1A IL. 11dillld, VI tlAS
| Capital Traction Co.. will be one of thu
speakers at the convention of the Amer.
lean Electric Railway Association. which
meets in Cleveland this week. The as
ISOLATION has carefully prepared pro.
gram which will deeply interest all pro.
gressive officials in electric railway
! companies. Mr.. Hanna is on the pro.
gram for next Thursday.
Institute Work Starts Tonight.
Glasses in Washington Chapter
American Institute of Banking, open
tonight for the first semester. Among
those to meet this evening are COM
mercial law, under Raymond B. Dickey;
standard economics, taught by F. j
Donohue, and investments, in charge of
Y. E. Booker. These three instructors
were on the institute faculty last year
and their courses were largely attended
Many brilliant students have completed
| these studies, perhaps the most dis
| tinguished student being Harvey w
| Wiley, who joined Mr. Booker'S class in
| investments when he was around &c
years of age and attended classes reg
ularly.
A. E. Henze, chairman of the educa-
tional committee, hopes and expects the
! institute enrolment this year will sur
pass all former records.
s1s,2O9,79s Bid Gets Big Order.
The International Envelope Corp. q
subsidiary of International Paper Co.
has been awarded the contract for sup
plying the United States Post Office
Department with 12,800,000000 stamp
ed envelopes and newspaper wrappers
for the four-year period commencing
N1aA 0rot c
the lowest bidder with bid of $751;
209, 1893, which was $105,000 below the
bid of the present supplier.
The paper will be supplied by In
ternational Paper Co. and the en-
velopes will be made by international
Envelope Corporation, in which it IS
understood the Standard Envelope
Manufacturing Co. of Cleveland has an
interest.
u. S. Income Tax Payments Heavy.
Income tax collections are running
ahead of last year. Collections for
September 20 were $45, 084 1926 and mis-
cellaneous internal revenue collections
$2,872,913. Income tax collections for the
month up to and including September
20 totaled $685., 492. 592, against S372,-
951,3 BIT last year. Miscellaneous collec-
IlOIlS IOE same 49,
| 857,152, against $50, 675, 202.
Income tax collections for the fiscal
year 1929 to and including September
| 20 totaled $466, 788,436, against $445,-
817,494 for the corresponding period in
the fiscal year 1928.
School Savings Booklet Issued.
A history of school savings banking
in the United States, prepared by w
Espey Albig, deputy manager American
Bankers Association, has been issued
in booklet form by the savings bank
| division of the association.
School savings systems" says Mr.
Albig, "are in operation in 46 of the
48 States Of the United States, anC
annual deposits in each of the sever,
States are in excess of $1,000,000. Ir
one State the annual deposits are above
100000, in another 100000. The
aggregate net annual savings in the
United States is above $9,500,000 ,000.'
Heard in Financial District.
Thomas w. Brahany of Crane, Parri
! & Co. has been in Montreal to attent
the opening of one of the largest depart
ment stores in Metropolitan chain store
system. He was the guest on the tril
of George H. Burr & Co., of New York
Louis Rothschild, director of tn
Washington Better Business Bureau, ha
returned from Chicago, where the Bet.
ter Business Bureaus of the countr,
have just completed their annual con-
vention. Many practical suggestion
were offered during the sessions.
Stone g. Webster and Blodgett, Inc, E
H. Rollins & Sons and other participat.
ing bankers announce the sale o
$4,000,000 State of Massachusetts, Met
ropolitan District 4 per cent bonds yer.
soon after the opening of the subscrip
ton books, at prices to yield from 1
to $50 per cent. This would indicat,
an improvement in the demand fol
high-grade municipal bonds.
Automobile Factory Sales Gain.
August factory sales of motor We
hicles in the United States, as reporte,
to the Commerce Department, wer
458, 429, of which 400689 were passen
ger cars and 57.740 were trucks, com
pared with 39l, 100 passenger cars an
trucks in July and 308,626 in August
1927. These figures are based on fig
ureS by 1855 manufacturers, 48 maxim
passenger cars and 125 trucks, with l
making both.