Evening star., 1928-04-23
GAS LIGHT STOCK
MAKES NEW HIGH
Two New Listings 0. KID and
Frank B. Pryor Admitted
to Membership.
BY EDWARD C. STONE.

advancing to 9l7S before It's new peal
at the close. The sales totaled s.
shares.
Potomac Electric Power 5is per cen
preferred again was active and strong
81 shares selling at loSi3. The 6 pc
cent preferred was equally firm OIL
lighter trading, changing hands a
1l3la.
Riggs Bank stock moved to the ex
tent Of Is shares az its high Of 5ll anC
National Bank OF Washington appeared
on the board at $40. the same as th
last sale. Merchants Bank 81 Trus
sold at ISL.
Washington Railway & Electric cam,
out at 1921 and shares OF Mer
chants Transfer & Storage preferred
sold at l0S. Mergenthaler opened a
lolA and closed at l0l i on a 30-shay,
| turnover.
Sanitary Grocery preferred changes
hands to the extent of 80 shares q
ITO. Chevy Chase Dairy preferred solt
at l06. There was broad trading II
the tond market at recent firm pric'
levels.
New Member and Two New ListingS.
The board of governors met today
elected member TO the local exchange
/ ana dppAONCO JNO IlCM llSbAASo.
| Frank B. Pryor, manager OF thC
securities department of Waggaman 6
| Brawner, Inc, local investment brok-
| ers. was admitted to the exchange, TAX
ing a seat which has been vacant fol
some time Mr.. Pryor has been IN the
| financial district for several years.
The board admitted to listing $2,50o.-
600, par value $100 per share. 6l2 pei
cent preferred stock of the Peoples
Drug Stores This is part of an author
lied $10,000,0 900 issue. only the above
amount having yet been brought out
The stock replaces the per cent pre-
ferred stock which has been called for
redemption.
The other listing was the recent ST.
0O0. 900 issue of Chestnut Farms Dairy
cumulative z per cent preferred stock
and 12.500 shares of common stock
no par value.
Lauds Bankers Spring Meeting.
Howard Moran, vice president of tn,
American Security s. Trust Co., wa.
back at his desk today from the Ameri
can Bankers Association council meet
ing at Augusta. Ga. He reports tina
the Spring session was most instruc'
tive. helpful and entertaining.
Taxation and the proposed reorgani'
cation of the association were the big
gest issues before the meeting. Mr.. Mo
ran stated. One entire morning wa!
given to the bank taxation laws In thC
various States. One speaker took vi
what he considered the best State law:
and another discussed the laws which
are considered the most unsatisfactory
Many brilliant bankers expressed theil
views on the subject in very con-
structive way. All the delegates felt
that they got a great deal of highly
important information on matter thai
has vital bearing on every bank II
the country.
The committee report on reorganizine
the A. B. A. aroused wide interest. II
was voted to give further study to tho
question, and the committee was asked
TO make its full report at the annual
meeting of the association next Fal
in Philadelphia. Final action will bt
taken at that time.
Harry v. Haynes, president OF the
Farmers and Mechanics National Bank
was equally enthusiastic over the bene.
ilts Of the Spring meeting.
Insurance Sales Show Gains.
Sales of ordinary life insurance dur
ing the first quarter of 1923 show pro-
duction per cent higher than last
year. The latest report of the Life In
surance Research Bureau, which covers
81 companies doing 90 per cent of the
business In the United States, says that
more than S5,500,0o0 paid insurance
was written In Washington in March
This is below the usual monthly aver
age for the Capital, as the total yearly
amount Is around $4,000. 900.
slE 80 1nws
TO bankers just at this time when the
local association is conducting an ad-
vertising campaign 70 educate the pub
lie TO the value Of the trust service
which the banks offer Insurance men
consider the writing Of s5.500.000 new
insurance as the establishing OF new
estates. and point 10 the opportunity
which the bankers have Of helping tC
conserve these funds when later turned
over 10 policy holders. many OF whom
have no adequate knowledge Of invest
mentg.
Elected 10 Governing Board.
w. W. Spaid, president Of the District
Bankers Association. has been elected
| 10 membership on the board OF gov
Stock Exchange Firms. a distinct honor
3
For the past two years Mr.. Spaid ha,
been chairman OF the executive com
| mittee Of the out-of-towu section oi
! this association and has played lead
| ing part In establishing this section or
/ a solid basis. He has attended many
, meetings In various Eastern cities ane
| is particularly familiar with the prob
| lens facing the Stock Exchange houses
outside Of New York. The flnancia
| district here considers that his present
election has been well earned.
| Mr.. Gpaid, who Is partner of w. B
Hibbs. was back at his desk today, anc
was being cordially greeted by brokeri
and bankers as governor"
| Wins High Insurance Hon0rs.
The head ONCE Of the Aetna Life In
| surance Co. reports that g. Cochran
/ Fisher Of Washington stands secont
| among the agents Of that company IL
| the volume Of paid insurance writer
| during the first quarter Of the prescn
| year His record 50 far this year 4
/ 1851 900, The company adds that Mr.
| Fisher joined the staff I'm December
/! 1925. In 1925, hts FIRST year, he sole
/ $500 600 insurance. increasing that fig
! nre last year 10 $4,000. Before en-
| tering the insurance field Mr.. Fishe
was With the Federal Trade Commits
| sion
Largest Forum In Prospect.
| Chairman II. w. Burnside reported
| today that indications point 10 tn
! largest attendance of the series at tn
| Institute Forum dinner 10 be held mex
| Friday 1T Hotel Raleigh, beginning a
q O'Clock. Reservation requests ar
reaching r. II Cor, the treasurer, yer!
| rapidly, Many senior bankers are plan
ming 10 join the junior bankers on thi
/ occasion.
Some Leading Problems In Bank
ing" will be discussed by Thomas
Patton. general counsel VI the American
Bankers Association. The unlforr
tiduciaTies act and the joint deposi
bill win receive special attention. Onl
rarely can such an able speaker be Oh
famed for these dnners, and Judg
A. a. -