Evening star., 1928-11-23

way & Electric
common, came out sssN NS
at 425. same as the
last previous sale. kssSs sE sSssAli Essss'sSSSSss
Potomac Electric r co.ro,o.
Power 6 per cent
preferred moved at HE and the 81
per cent issue at 1031b.
Riggs National Bank warrants wit
messed fractional sales at 315, and 4
shares of Federal-American Nations
sold at 336. American Security 1
Trust registered Asa In the bon
division Potomac Electric first IS wcr
IN particularly good demand at 993
and 99;S. Railway g. Electric 4s move
at 9l34 and 915s, Capital Traction 5
at 103A, and Anacostia & Potomac 5
at 95.
The Washington Exchange will folloy
the example of the New York Exchang
and be closed tomorrow, the Gotham
action being taken to clean up tn
deluge of delayed reports on stock pur
chases and sales.
Adkins Reelected Insurance Head.
The annual meeting of the Insuranc,
Club of Washington was held Wednes
day evening at Wardman Park Hotel
James c.. Adkins was reelected presi
dent; A. j. Voorhees, was elected vict
| president Climber l.. Mantz was re.
elected treasurer and Henry A. Latimel
was reelected secretary
The following were elected to the
! board of trustees for three years
Eugene G.. Adams, T. Bryce Conlyn
John T. Jones and Bertram G. Lennon
The other trustees of the club are Ed.
ward S. Brashears, Thornton P. Bo-
land. William D. Elicit, Edgar. K. Legg
Jr.; William N. Payne, jr., and William
H. Ronsaville.
The club was organized in the Au.
tumn OF 1922 and its members include
many of the leading fire, casualty and
surety agents in the city. 1t is perform
ing a useful service along educational
lines and has done much to promote
harmony and good will among its mem
berS. The year just ended has been an
outstanding Cne of accomplishment and
President Adkins was heartily thanked
for his capable leadership.
Govern Local Stock Exchange.
The board of governors of the Wash
ington Stock Exchange. as it stands
since Wednesdays annual meeting, in
cludes W. B. Hibbs, Y E. Booker, Ed
ward L. Hillyer. c. j. Gockeler, Eugene
E. Thompson, Charles Carroll Glover
jr., and George Q. Watson, the presi.
dent, serving ex-officio, Mr. Thompson
has been elected chairman of the board
for another year. Both Mr.. Thompson
and Mr.. Hibbs have served the Ex-
change many times as president AL
| these men are experienced in finance
and form one OF the strongest governing
boards that the Exchange ever had
Tho annual Y1anntfr1o hrnYYrrIaf asYf =
old members who do not attend regu-
larly, and all were most enthusiastic
over the present status of the organiza-
ton.
C. j. Gockeler, who was reelected
secretary, has held this position for
several years. His annual report showed
many new issues added to the list dur
ing 1928, and the membership up to the
limit of 40. Secretary Gockeler is vice
president of the District National Bank
Convention Hall Dividend Voted.
The directors of the washington
Convention Hall Co. have declared their
regular semi-annual dividend of 31s pei
cent, payable December /, on the pre-
ferred stock of the corporation. The
for transfer of stock on November %
to be reopened on December 4.
Capital Leads in Insurance Sales.
The Life Insurance Sales Research
Bureau reports that the South Atlantic
section records a very Slight decrease
! in sales in October and is the only Sec
| ton of the country which failed to sur
pass its 1927 record. Maryland leads
with an 18 per cent gain. For the year
to date and the l2-month period just
ended sales in the South Atlantic Sec
! ton equal the 1927 records The Dis
trict of Columbia leads both these
| periods.
The East South Central section as a
! whole records a IA per cent increase
which is shared by every State except
Alabama, which experienced slight
| decrease. Tennessee leads with %
| per cent gain. For the first 10 months
| the section shows per cent increase
| which is also shared by every State ex-
| cept Alabama.
The Worlds Richest Family.
Gulf Oil is not company as vel
known publicly as some of the Standard
| Oil and other oil issues that are active
in the market" says the Wall Street
Journal. 1T is a curb stock, selling
above $160 share Not many months
ago it was selling below 500 share
The largest holders of the stock are thu
Melons. The street has it that they
own close to 80 per cent. but this, Of
course, is a guess. If true, the Mellor
| family is likely to become the richest
| family in the world If Gulf Oil share:
sell at a figure predicted by some whc
! have been buying it.
There are 4,450,116 shares of Gull
Oil outstanding. At $165 share tht
recent hight, the stock capitalization
has market value of nearly $3.50, 0,000,.
000"
Mcintosh Dinner Marked Success.
The dinner given by President r
Golden Donaldson of the Commercial
National Bank to former Controller 10
| seph w. Mcintosh, an account of which
| appears elsewhere in today's Star, wa
a complete success. There were no eX
tended speeches, but the program of en-
tertainment arranged by Thomas w
Brahany was unusually pleasing, tn
hundred guests reporting thoroughly
enjoyable evening. Other than to sa,
he expects to enter the banking field i.
New York, Col. Mcintosh has not We
made definite statement regarding hi
future plans.
Railroads Earnings Improving.
"It is estimated that our Octobe
gross will approximate S10,400,00 ne
operating income $4,000 and net in
come latter taxes and charges) $4,000,
000," said Arthur c. Needles, presiden
of Norfolk & Western Railway, to tn
Wall Street Journal In October, 1922
gross revenues were So, ,668 ,225, net oper
ating income $3,29O, ,667 and net incom
$2,995, ,159.
Financial District Notes.
James A. Soper, president of Wash
inpton ChaDter A R and his com