Evening star., 1928-02-09
WASHINGTON GAS
:''REACHES NEW TOP.
loses at 88 on Local Ex.
ehange,-Capital Traction
| Again Is Active.
BIZ EDWARD c. STONE.


kchanse today when 1t closed at So.
The stock opened at S7i2. droppe,
bss. moved up to "a and then to 4
efore going under the wire for ney
scord. The days sales were made II
tven 10-share transactions.
Capital Traction again drew atten
ON. opening at ll4Ss. advancing Il
las. but closing back at 1l4ss. tn
arnover being SO shares. The othe'
merger stocks" Railway common and
teferred, we're not out.
one share of Washington Loan q
rust stock sold at S07, Sanitary Gro,
hry came out at lot. % shares o,
snston Monotype moved at 10912 ane
hoples DRUG Stores preferred reacnec
mother new top price Tor the yeal
'hen 10 shares changed hands a
On the bond side Washington Rail
av & Electric Is sold at 9234, Ward
ian Park Hotel Sias at 96 and Gas IS
.ries A, at 1861 for a baby BOND
he bond lead was taken by Potomac
Nctric Power Is. which closed at los.
Bankers TO Study Credit Plan.
Come sort of credit bureau for thu
cnef,t of Washington bankers Is ex.
acted to follow the appointment OF
uecial committee of eight by President
". Spaio Of the District Bankers
.Ssociation, TO go over the whole situa'
N and report the fandings to the as
miation. The committee, which ma:
ist been appointed. includes:
Robert V. Fleming. president Riggs
RATIONAL Bank. chairman; Harry v
nvnes. president Farmers & Mechan.
n National. for the national bans
rbup: Edison s. Olds. vice president
fhion Trust Co. and Frederick r. n
kidons. secretary American Security q
Sust Co. for the trust company group,
fancis G.. Addison. ir.. vice presioen'
kcurity Savings & Commercial Bank
nd Claude II. woodward. president
eount Vernon Savings Bank. for the
svings bank group. Maurice OtteroacX
resident Anacostia Bank. and Laniel
McLachlen, president McLacnlen
hnking Corporation. represent tne
bate bank group.
.The problem already has been consio-
I'D hy the Washington Clearing House
Association. The result Of that INQUIRY
Sjicated that Chicago has plan ina!
heht work well here. 1t Is oelieVeo
Est the cost OF maintaining the bureau
n,,ld be covered by the saving 70 the
Snks IN having proper protection from
double borrowings" which have caused
Gmerous losses In the past.
/ Coy. Seay on Rediscount Rates
lifting Of the discount rate by the
Echnond Federal Reserve Bank re-
6nds a New York paper Of statements
asde by Governor George j. Seay OF
kat bank o few weeks ago. Reviewing
e large expansion in credit. -exces-
Re hank credit" as he calls It when
Ia been responsible for the increase IN
eices Of capital securities, MI seay
aid. ssss+ =. .-~.~.
1.-THE question is raised in the mind OF
ke writer whether We have been hitne
Arselves BIZ our own bootstraps--
neither We are living at the present
& fools paradise: we certainly nave
re foot across the border.
an Seay added that bark credit has
.en TOO cheap for healthy economic
lsyelopment.
/: Motors Lead Stock Decline.
Market values OF 100 active stocks
nnpiIed by Frazier Jelke e. Co. made
& net decline Of l. per cent during
t1nuary. Tfie stotaiS ralue: Of thess
tDcks January 81 was s2z. sol .93s 600
3npared witif s23.Ols. .Ds2 900 Decem'
nr 81. which represents loss OF $246.-
Ia. 600 during the past month.
The greatest loss was In the IL
1D,ors. which fen of s11s.59l 900 from
rfnarKet value Of $3,5Sl sos 900 at the
ID Of last year. :.
Advances were made by fve OF the IL
.spups. Those which moved forvard
gfre the utilities. equipments. ruboers.
oDd products and speciality industrfals.
E,eels. coppers, rails. oils. chemicals
Nd merchandise shares. In addition 70
notors. comprised the groups wnicn
flowed declines.
/ Building Work Falls on.
Total valuation figures just an
s,lncec for all classes OF construction
Tork totaled t6,34s.4s3 In the ntth re.
srye district In December. 1877, ano
ss 7s5, ,9l7 In December. 1925, q decrease
fartns the more recent perlod OF
IzlIe.l34, or 276 per cent Baltimore
s6borted q decline OF 90 per cent. Rich.
sxond O decline Of z5.7 per cent and
Washington q decline OF 29.5 per cent
FsurteeY1 of the 20 cities reported high
n valuation figures than for the sams
konsfl a year earlier. eight Of them In
gessine more than 100 per cent. but
tzcept IN Cumberland. Frederick and
Columbia the large percentage gains
sere due 10 low figures In December
t12g. rather than 10 unusually hiek
sfures for 1927.
Totals for the entire year 1927 show
decreases In both the number Of permits
kss1ed for new work and In total yalua'
1Dn In comparison with 1928. The n
ektiss ISSUED 1896 permits for nes
st,rk In 1927. compared with I'll, ,763 per.
n1its issued in 1928. o loss Of lis pei
pent. EAtinlstec valuation totaied tlt5..
gix7T In 1877. compared with SI70..
$50 sSE IN 1925. q drop OF 25.2 per cent
fInsursnee Managers Elected.
A. the annual meeting Of the policy
holders Of The Mutual Fire Insurance
Go OF the District Of Columbia, tn
fo'iUSing managers were reelected 10
the coming yeAY: William A. n
Cs1s1eh. n r. Saul, James r. Petty. c
Kztt<imann, l.. Pierce Eot<ler. Edwil
e. HfaudenbaIrs and Frank A. johnson
W. A. H. Church. ttss president, re-
portkd the Compsny's affairs in an ez
SeilaF1t condition. The balance sheet o
Dectms,er 81. 1927. showed assets b
s314l<5S 20, compared with t2e5.z3i 2
on December 81 Of the previous yea,
The company ended 1927 with q surpIu
Of *277 so. against d surplus In 1872
Of s2eo, ,s9s.23.
Hzsksss' Bulletin Out To-day.
The District Bankers Association
Monthly Bulletin appeared today, re-
yIeNfbg In detail resent activities, pub
ii@hsag convention and making vsri0a
announcements
IN Wednesday. February n, Wash
hgiHn's birthday. all banks viii b
cloS<G and the usual weekly Iuneheo
d, tle Willard Eilj ba ilNlc on the pre-
yip'1 Hsy NJ its usual Mnis
Ike council Of administration meet
on friday. February ~, snd one Of th
Elost important matters 10 come up wi
nsaQrsIIy be the decision regarding th
bssg place for holding the snn,isl Jun
eoissSntlon
&c. &. bead Authority R<susste1.
Tty vyginiaa Railway Co has ssks