Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-09-06
RECORD IN TRADING
ON D. c. EXCHANGE
Largest Volume for Present
Year Is Established in
Dealings Today.

The Washington Stock Exchange to-
day experienced the largest volume Of
trading for the current year.
Capital Traction easily lead the list in
total amount of turnover and its stock
went to a new recent high of ITO
Chestnut Farms Dairy rose to 1862
the highest point ever reached by this
stock, and Columbia Sand & Gravel
staged a recovery in a turnover of five
shares at 80.
Capital Traction SIS sold at 101 in
five blocks totaling $4,000. The stock
og this company, starting in at 108,
which was a half point above yester-
day, rose to 109 on 10-Share sale
and then in the period after call went
at ITO, 1922 and back to ITO on three
sales of five shares each.
Washington Gas SIS were also active,
selling at 1929. a fraction off from
yesterday, in four blocks totaling $40
600. washington Gas 6S A rose a point
and a half to 1912 on $4,000.
Wardman Park Hotel 5l2s sold in two
blocks, falling off from 103 to 1929.
Mergenthaler was active in turnover
of several blocks at 9978, 1894 and 9958.
Woodward and Lothrup's preferred
SUOCk SOlu dG 1lU.
Title Co. Directors Meet
The first meeting of the complete
board of directors of the newly or
ganized Capitol Title & Guarantee Co.
was held today, following a luncheon
at the Racquet Club.
The stock market now is higher than
before the June break according to
computation of the market value of 100
stocks prepared by Frazier Jelke q Co.
At the end of August the quoted ap-
praiSal of 100 representative issues was
S27, .512 900, compared with S26,l65.-
100000 at the end of May, when stocks
were selling only a trifle under the
highs reached before the June cor
receive movement.
The computation shows a $2,219,946,-
900, or 834 per cent, gain in valuation
during August. Six utilities advanced
1881 ,621 900, or I'LL per cent; II IN
dustrials gained $462 $4,000, or 1910
per cent; Is miscellaneous induStrialS
appreciated S255, Isl 900, or 10 per cent,
and 8 merchandising stocks added
1924, 1886, 900. of 1859 per cent. gain
was recorded in each of the IL groups,
the smallest percentages of increase be-
ing in the oils, % per cent, and in the
rails, 3.12 per cent.
Investment Financing.
In contrast with many months in the
past two years, which produced record
breaking volume of new investment
financing, August showed the smallest
total for any month in the last five
years. according to Lawrence Stern q
Co, of Chicago. New note and bond
offerings in August totaled only $183,-
1863, 200, according to the compilation OF
the company. This compares with
offerings of S473, 464, 800 in August, 1927,
and S283,456,80O in July, 1928.
1.-The fall-off in last months f1nanc-
ing" said a statement analysing the
situation. was chiefly at the expense
of foreign offerings. in which class there
was not a single new issue. Railroads
also failed to produce single new loan:
Less than S12,000,000 of industrial
issues were brought out on the market
last month. In the public utility field
there we're offerings totaling $77,340,-
900: this was the only classification to
show an increase over July, 1928"
For the fourth consecutive month
State and municipal borrowing in ALL
gust fell below the total for the CORE
spending month last year, according to
the Daily Bond Buyer of New York.
Flotation of S69.577 ,038 new securities
last month, as against S88,878,0 59 in Au-
gust, 927, brings the total for the eight
months of the current year to $921,-
$3.50, as compared with $l,013,72S,-
$50 for same period in 1927 and ST.
O64, 2O8. 22O in the record year, 1924.
Fertilizer Business Gains.
Virginia Carolina Chemical Corpora
ton thoroughly reflected the improve
ment in the fertilizer business in its
latest annual report. For the fiscal year
ended June 80 net profits totaled 81
5lO.7O2 after expenses, depreciation, de-
nletion and provision for doubtful &C
counts. equivalent, after deduction OF
2 ner cent prior preference DIVIDENDS
and allowing for dividend requirements
on the per cent cumulative preferred
stock, to So cents share on the OUT
standing $500 shares of no-par con-
mon stock.
Heard in Financial District.
John Poole. president of the Federal
American National Bank, has been ap-
pointed a member of the National Bet
ter Business Bureaus auxiliary COM
mittee, composed principally OF f1gures
nationally known in finance and law.
Graham Hodges, formerly with Fra
9ier & Co. of this city, has joined the
sales organization of Crane Paris q
Co., which yesterday moved into its
new home. -,-.
William D. Hoover, president OF the
National Savings e. Trust Co., has left
for vacation in Maine.
Charles c. Lamborn. treasurer OF the
National Savings g. Trust Co, has re-
turned from vacation motoring
through Virginia.
M. F. ShoWalter, assistant cashier OF
the Commercial National Bank. has re-
turned from a vacation at Harrison
burg. Va.
Raymond G. Marx, auditor of Riggs
National Bank, has returned from va
cation motoring through New England.
Charles P Light of the National City
Co. has returned from "a vacation in
Canada
Thomas ]. Groom. vice president of
the Washington Mechanics Savings
Bank. has left for a months vacation
at Mobile. Ala, his former home, and
points along the Gulf Coast.
George L. Starkev. president of the
National Bank of Washington, left to-
dav on a motor trip, during which he
will visit his mother at Belfast, Me, and
tour through Canada.
Lawrence D. Hoes of the National
City Co. has returned from his vacation
AT Cape May, N. j.
POWER MERGER HINTED.