Evening star., 1928-05-25


1Oo3s. Ten shares of Commercial Ma
-tional Co. preferred brought los, and
10 OF Security Storage. 1877. Mergen-
thaler came out at 1925 and closed at
102iS. Terminal Refrigerating * Ware
housing Corp. appeared on the board
for the first time in weeks, selling at 90
In the bond division recent prices
prevailed The largest transactions
were in Washington Gas SIS, which sold
at i055s, and Potomac Electric conSol-
idated IS, which changed hands at
lassa. a $500 Washington Gas bond
sold at Io734.
The unlisted securities were called oil
and but one change was noted for the
week, the asked price on Miller Train
Control being advanced to 2Ss, no doubt
as result of the annual report made
Wednesday.
Officers Managing Southern Diaries.
The officers managing Southern
Diaries, Inc, which concern has been
taken over through stock control by
the Kraft-PheniX Cheese Co. include
E. S. Perot, ir, president; H. j: Adalr.
vice president: j. A NJ. Adair, vice
president: H w. Shaw, treasurer; M.
K. HEARTFELT, secretary; L. NJ. Ogden,
assistant treasurer, and Herbert Depew,
assistant secretary. 1t is stated that
these officials will remain on duty. as
it is proposed to operate Southern
Diaries as a separate unit instead OF
completing merger.
Southern Diaries has been a pioneer
In the development of the dairy indus
try in the South on large scale. From
q rather small beginning several years
ago this organization has extended its
operations. until now it has AZ manu-
featuring plants and distributing sta
tions from Baltimore to Miami and is
selling its products in 1000 Southern
cities and towns throughout 10 States
and the District of Columbia.
The pioneer work that Southern
Diaries has been doing has been ,recog-
nized by agricultural leaders IN the
South as being most constructive and
heIpf,sl in placing farming on sound
and profitable economic basis. 1t was
through this initial development that
the Kraft-Phenix Co and other large
dairy products organizations became
interested in the South as an ideal
place for creameries and manufactur-
ing plants.
Predicts Best Convention Yet.
George o. vass. one Of the vice pres
idents and cashier OF the Hlggs ma
tioYal Bank. and chairman of the pub
lcitv committee for the coming bank
ers' convention, is most enthusiastic
over the prospects for the Montauk
Beach sessions He declares the pro-
gram vill make the business sessions
well worth while, and no convention mas
had more varied and interesting fea-
fzrres for afternoon and evening enter
fafy1rnent. With three Of the best golf
courses on Long Island open 70 the
bankers, concerts, card parties anu
scores Of other diversions, there snonlu
not be a dull moment for anybody, Mr.
Vass said today.
Bankers Plan Annual Cruise.
More than rs Baltimore bankers are
planning to 60 on the annual outing
next week Of the southeastern group OF
the American Investment Bankers AS.
sociation. A chartered steamer VIII
leave Baltimore June ] with the wfioie
party aboard x,,
Beach. where golf and tennis tourna-
Ynents have been arranged. Sunday the
gTeauer viii proceed to Old Point Com
fort. va. Those wishing TO play golt
VIII disenbark there, while others am
stav ON board and make tour Of MS
foric pisces, including Yorktown, IN the
Hampton Roads district.
MARYLAND, Virginia, West virginia
District Of Columbia ano TIE t"o
CaroItras are included in the southeast
e-n section.
Cleaned In Financial District.
The local broker Office viii join me
Tey YORK Exchange in returning To the
fTe-hour daily schedule again nezt
Monday. o.
Tfe Federal Reserve Board announces
that the Cleveland Bank has raised the
Tedsscount rate to AZ per cent.
The District Bankers Association
council Of administration meeting,
gc1edtiled for yesterday afternoon at
feadouarteTs, was postponed BY w. w.
Epasd until next Tuesday.
Loans TO brokers and dealers held ny
New YORK Federal Reserve member
hankg for the week ended May % were
placed yesterday By the Federal Re-
serve Board at $4.z5g. .09l 900, conpar-
ing with s4.502 .044.00 for the preced'
ing week.
The Flcischmann Co. has declared
the regular quarterly dividend Of rs
cents on common, payable July 2 70
stock Of record June IL.
Total assets o! North American Co.
on March 81 were S733. 99S. .905, against
$3.50, 1876 gsl a year ago, auo total sur
plus S75 Sgl $40, against s85, Dos .654.
Current assets we're S48 .s22 .gGi, against
current liabilities of SIG 96s 205.