Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-01-24
PEPC0 PREFERRED,
5 Il, At NEW PEAK
Goes to 1903 3-4-PeopIeS
Drug Stores Strong-Bond
List Firm.
BY EDWARD c. STONE.

Potomac Electric Power 5ie per cen
preferred stock reached new high 70
all time on the Washington Stock Elk
change today, scoring fractional ga:l
and closing at 1885,. 1t opened a
l0Si.. advanced TO l0S'a and gaines
. another quarter on four more later sales
The days transactions in this iSS'I
ration's per cent preferred stock APP
peared on the board at ll2i4.
Peoples Drug Stores preferred wa
strong at 1921. Capital Traction a
1905. Lanston at 100. Washington Ga
S5ls and Sand & Gravel preferred 104
Norfolk & Washington Steamboat stool
sold ex-dividend at 300la. and fiv
shares of Real Estate Title Insuranc
Co. came out at 206.
Bonds were also strong. Washington
Gas IS. series A. sold at 1861. Will
the series BIS brought l0Si2. Capita
Traction SIS registered l04i,. and Their
was $4,000 turnover in City e. Sub
urban SIS at 100.
Local Insurance Men to Meet.
One of the big events of the year il
insurance circles will be the meeting
Thursday night at the City Club O
the District Life Underwriters ASSo
citation. at which William II. Baden
trust officer of the Washington Loar
& Trust Co. will be the speaker HI
will talk on Life Insurance Trusts" :
subject in which there is great in.
terest at present The talk comes II
connection with the recent move II
bring about closer co-operation between
the local banks and the insurance in
terests regarding the handling and con-
serving of estates.
John F. Cremen will preside at tn,
meeting. the dinner starting at CHS.
Association Has Large Assets.
Manager Charles F. NeSbit of tn
Electrical Workers Benefit Association
with headquarters in this city. report
that the organization closed 1927 Will
assets of S2073925. Since its organiza
ton i'll 1922 the association has pait
death claims amounting to S1,304 ,965.
The Union Cooperative Insurance
Association, also controlled by the In
ternational Union of Electrical Work
ers. has its home Offices in Washing
ton. At the end of its third year o
business the life insurance company re
ported assets in excess of $275.000 ant
surplus of $4,000. The association
paid 100000 in death claims last yea
and its premium receipts were in ex
cess OF S24O 600.
The officers of the international
Brotherhood of Electrical Workers ar,
the officers of both of these companies
James p. Noonan. president: Charles P
Ford. vice president: G. NJ. Bugniazet
secretary and treasurer of the Unior
Cooperative Insurance Association
and secretary Of the Electrical Work.
ers' Benefit Association: William A
Hogan. treasurer of the Electrical Work.
ers' Benefit Association. and Charlie.
F. Nesbitt. manager of both aSsocia.
tons.
Southern Seeks New Note Issue.
! The Southern Railway has asked tn.
Interstate Commerce Commission fol
authority to issue SO $40 900 Of 4 pei
cent equipment trust certificates. which
will be sold at competitive bidding ane
the proceeds used in the acquisition o.
43 locomotives. $500 coal cars. 2.00t
box cars and about 1000 other cars
costing s123l2950.
The Mobile &, Ohio a subsidiary. ais
asked for permission to issue 1920 00
of Az per cent certificates. which vii
be sold TO the highest bidder and TIL
proceeds used TO acquire 10 locomotives
$50 box cars. $50 gondola cars. 200 fla
784.
Insurance Output Over is Billions.
The production of life insurance b.
United States legal reserve companie
in 1927 amounted TO SIG, 700, 900 900. al
increase Of Is per cent over 1926. &C
cording to the Association OF Life In
strance Presidents Exclusive OF re
! vivals. increases and dividend additions
the new business for the year was ] i
Der cent less than during 1926. Thu
result is due to the falling off Of IS:
per cent in December business. Th'
total insurance in force is now more
than ss7 600 900 600
Heard In Financial District.
| Albert s. Galley. executive vice presi
dent OF the Lincoln National Bank. i
back at his desk after a three weei
motor trip through the South.
/ Maurice d Rosenberg. president O
the Bank OF Commerce and Savings. i
| spending few days In Atlantic City.
William 7. Cosgrave. president of TIL
Irish Free State, now in Washington
will be tne guest Of honor AT ths
luncheon Of the Bond Club OF New Yori
on February 3.
4 Edmund Brown. IT.. arrived In towr
from New York today TO be the lead
ing speaker tonight at the forum din
ner Of Washington Chapter. A. T. b.
al the Lafayette Hotel. at 6 O'Clock.
Other Financial Notes.
The subscription books on the 3M pc
cent Treasury notes offered I'm exchang'
for the AZ third Liberty loan bond
have been closed.
The savings department OF the Wash
ing Loan and Trust Co. has movet
into It's permanent quarters the change
In the original banking rooms now be
Ing practically completed
The second semester at the instttut,
now is opening the first class beginninl
work last evening under the direction
Of Eliot H. Thomson.
The Department Of Commerce re
ports that the volume NJ trade reported
last week was below the preceding week
but considerably higher than for IN,
corresponding week In 1927
LETTER Reviews IaGaI Securities.
The January financial letter o
Crane. Paris II Co. placed In circula
ton yesterday. contains review q
business III 1927. ii summary Of eondi
tons IN Washington. interesting new
~ local stocks, several special agticle
on matters pertinent III the inYeatnien
business, and list u prices and othe
information concerning securities ilAte,
on The Washington EtOck Exchange al
" and Including January i. 1923
Local Bankers Fly High.
On Invitation NJ oscar A ThnruI
manager u the Rand Card Index 0fflc
here. several local bankers made Night
yesterday IN the plane Of Presiden
Rand who Was visiting at Boiling Field
Among the bankers up In the air
were John Poole. president Of tn
Federal american National Bank
EaIpn M Wolfe Merchants Bank
Trust CO; q Elmer Fiathef. assistan