Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-09-26

dend Potomac Elcc-
trio Power 5l2 per - lsasszss
cent preferred crorge l.. s,arkey.
moved at 1087s,
| District National Securities Co. pre-
ferred at 1O4. Columbia Sand {, Gravel
at %, and National Mortgage & IN
vestment at 5.
Washington Gas SIS sold at 1903 WASH
ington Arcade 6las came out at SO, and
/ Chesapeake &, Potomac Telephone of
| Virginia IS at 1924. Washington Gas
IS, series A. sold at 10434 and the B
/ bonds at 1919. Potomac Electric Pow
or IS figured in 81 900 sale at l08
1t was announced on the Exchange
j today that the reported sale yesterday
of 1000 shares of Washington Gas at
los was an error and had been cam
| ce]ed. There were no sales in the issue
today, the close being 1904 bid and
| 101l2 asked.
George Starkcy Highly Honored.
George L. Starkey, president of the
National Bank of Washington. was
given one of the biggest surprises of
his entire financial career at the meet
| ing of the board of directors this noon
In commemoration of 40 years contin-
ucuS connection with the bank. he was
presented by Clarence F. Norment
chairman of the board, with hand
some white gold watch. The gift was
suitably engraved and was participated
in by every empioye of the bank.
To say that the bank president was
surprised docs not express his feelings.
He had not even dreamed of any such giIt
especially since the actual 40-year Pc
Rod does not end until December /.
| nf rd
added to Mi. Moments remarks. prais-
ing Mr.. Starkey for the brilliant sue
cess he has attained in the past four
decades and expressing the hope that
the next 40 years will bring him equal
or greater prosperity.
George Starkey started his financial
career as a bark runner. He advanced
rapidly to assistant cashier and jumped
from there to vice president. For years
he served the bank most successfully
as note teller. The bank, which is now
119 years old, has shown marked prog
reSs under his administration as preSi-
dent.
500 Register at Institute.
Further registrations took place at
/ Washington Chapter, American 1nsti-
tute, last evening Not all the classes
have met for the first time yet and
the enrolment is, already over 300.
That is bit ahead of last year and
| indicates a new record.
Glasses beginning their work last
night were banking fundamentals, under
Eliot H. Thomson; negotiable instru-
mentS, Bolitha j. Laws, instructor, and
trust functions, in charge of B. Ashby
Leavell The class in credits. under
Edward j. McQuade, holds its FIRST
meeting in the chapter rooms this
evening.
Assisting the members of the faculty
in getting the work under way are
James A. Soper. chapter president; A.
E. Hence, chairman of the educational
committee: Frank NJ. Perley. chairman
of the membership committee, and
Richard A. Norris, chief consul
American Ice Earnings Gain.
| August earnings of American Ice Co.
/ before Federal taxes and depreciation
we're Sl.I5l ,463. This represents an
| increase of 43.1 per cent over August
of last year and was the best month
| in the companys history.
| Says President Charles C. Small: I'm
both July and August earnings reached
new high peaks. The hot weather OF
1 these months was favoring factor. al
though the results of other months have
also been good Earnings for the first
eight months of the present year. be-
| fore Federal taxes and depreciation,
amounted to $3,872.000, an increase Of
| 27.5 per c-nt for the same period of
! last year. 1t now appears that the cur
rent year will be the company's best"
The directors yesterday declared the
usual quarterly dividends OF l " per cent
on the preferred stock and 80 cents
share on the common, both payable Oc-
| tober IS to stockholders OF record
October 5.
C. & o. Net Income Reported.
Net income of the Chesapeake & Ohio
Railway Co., including the Sewell VAL
lev and Greenbrier & Eastern, aggre-
gated $2928,349 for August, decrease
of 1896, 1888 under totals for August a
year ago. according to the Statemeno
of operations filed with the interstate
Commerce Commission yesterday. The
operating ratio was 81 per cent, COM
pared r>.:n 622 for August, 1927.
Earnings after all charges for the
eight months ended August 81. 1923,
were $16,269,253, decline OF $3,408.061
when compared with the corresponding
period of 1927 The operating ratio Tor
the period was 63.1 per cent, an IN
crease of 13 per cent over the same
period year ago.
Heard in Financial District.
The annual meeting of the Bank OF
Commerce & Savings takes place to-
morrow forenoon in Alexandria. The
bank has enjoyed an excellent year.
Several vacancies have existed on the
board for some time and there is a
possibility that these may be filled at
tomorrow'S meeting.
Holders of chain store stocks will
be interested in the opening of another
store of this type in Washington. The
F w. Grand and 10 cent store on
Seventh street started in business to-
day. The city now has Woolworth
Kresge, McCrory and Grand, all in
lively competition.
Bonbright & Co., Inc, are offerin.
$4,000 shares of the American Super
power Corporation first preferred no
par value stock, of the Sc series, priced
at $3.50 per share and accrued
dividends, to yield over 6 per cent The
bonds are redeemable at S11O share
and accumulated dividends.
Michael H. Cahill who has beer
elected president of the new Plaza Trust
Co. in New York. brings to the inStitu.
ton wide background of banking ex.
perience. In addition to holding the
Offices at present of president of Utica
National Bank & Trust Co. of Utica
N. Y. and president of New York State
Bankers Association, Mr.. Cahill ha.
been a national bank examiner, as
sistant vice president of old Irvins
Trust Co., vice president of American
Bankers Association, counsel to bank
ing and currency committee during tn,
money trust investigation some year