Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-01-29

and Pennsylvania avenue, to vote OF
making the company a subsidiary o
the National Dairy Products Corpora
ton.
1t is expected that the entire out
standing issue of 81 100000 in preferred
stock will be called at $110 per share
This is a per cent issue, listed on th'
Washington Stock Exchange. the las
sale having been made at 1O9. Tit
company also has 1880 shares of com
mon stock on the local exchange, the
last sale in this issue being recorded a.
205. with 217 bid and 227 asked, since
that time.
One of the most important announce.
ments made today was that the com
pany will retain its present officers, di
rectors and management. Calling o.
the preferred stock will be handled BY
Crane, Paris & Co. investment bank
ers, who had charge of both the stoci
and bond issues when they were placed
on the market. Payment for all pre-
ferred stock will be made at the firm:
Office on Fifteenth street.
The present Chestnut Farms Dairy
officers are Henry N. Brawner, jr.
president; Edgar N. Brawner, vice
president; Herman A. Schulteis, treas
urer, and jeremiah w. McCarty, secre-
tary. The present company was organ
lied on January 3, 1924, as successor tC
a business started in 1896 While
Washington never faces milk famine
yet if such an emergency should ever
arise, the local concern could secure
from the parent company all the milk
that might be desired.
Company Reports Successful Year.
The annual meeting of stakeholder!
of Federal Services Finance Corpora
ton was held recently at the COM
pany's offices. 26 Jackson place. OF the
1872 stockholders of the company all ex'
cept about 20 are officers of the Army
and Navy, both active and retired, OF
members of officers families.
The president reported that the com.
pany had just completed very profit
able years business; that net earnings
were sufficient to meet regular dividend
requirements plus approximately so pei
cent of that amount added to undivided
profits, and that the companyS policy
of selling its five-year 6 per cent de.
bentures on monthly payment plan
was working satisfactorily.
The usual quarterly dividends Of
SITS per share on the preferred anc
so cents per share on the common
stock were declared, payable Jan.
uary 81.
The officers for the ensuing year are
President, Francis E. Pope; vice presi.
dent, Col. David S. Stanley, U. S. A.
retired; vice president. Maj. William
H. Garrison, U. S. A., retired; vice
president, secretary-treasurer and at
torney, Lieut. Col. Lewis w. CasS, U. S
A, retired.
The board of directors consists Of
ha oh off ialc oy1f
Clay Anderson, Corps of Engineers, u
S. a.; William G. Wheeler, Washing
ton, and H. H. Votaw of Takoms
Park, Md.
Institute Has Large Enrolment.
A. E. Henze, chairman of the educa.
tional committee of Washington Chap.
ter, American Institute of Banking, re.
ported splendid interest shown on the
part of students on the opening night
of the second semester. 1t is expected
there will be $50 or more registrations
in the various courses.
Three classes were organized at chap.
ter headquarters last night-the course
in negotiable instruments, under Ray.
mond B. Dickey; class in standard
banking, under F. j. Donahue, and thu
class in business forecasting, under
Walter H. Dunlap.
Tonight three more classes will bt
organized. These are the class in bank.
ing fundamentals under DR.. Eliot H
Thomson, the largest and. from tn,
standpoint of foundation work in prac.
tical banking, the most important
course in the curriculum: the class ir
commercial law, under Bolitha j. Laws
and the class in analysis of financia
statements. under William Corridor
Bechanan. The class in business Eng
Asn ana letter writing. under Arthur
Oeerlng VIII meet on Wednesday eve
ming.
Local Bank Stocks Active Today.
Riggs National Bank stock sold or
the Washington Stock Exchange TO-DAY
at 5771a and SIT. National Bank O.
washington appeared on the board al
SIZE. East Washington Savings Banl
registered 80, and seven shares of Fed
eral-American National sold at 342. TIL.
maj nank stock sale was 10 shares O
american Security g. Trust at 4703L.
Chestnut Farms Dairy preferre,
changed hands today at 109, Com
merclal National Co. preferred came on
az lO4 and 40 shares of Merchants
transfer d Storage preferred moved a
1O9. Mergenthaler was quiet at 1O4
terminal Refrigerating &. Warehousin,
corporation came out at 521s and 81
shares of Washington Mechanics Mort
gage common sold at IL.
After call Potomac Electric SO pc
cent preferred sold at 1882, Washing
ION Gas opened at 100 and closed a
III. Potomac Electric 6 per cent pre-
1erred moved at ll2 and the days trad
ing closed with 40 shares of CAPITA
1ractlon selling at 1862.
Commodity Prices Higher.
Prices of commodities during tn
week ended January 26 advanced one
nan OF l per cent over the previou
week, according to the wholesale pric
index of the National Fertilizer Asso
citation. The chief advances occurre
IN grains, feeds, live stock and food.
Slight advances occurred in sodium
nitrate, copper and miscellaneous. Ma
terial declines occurred in petroleum
gasoline and kerosene.
Fiduciary Section Meeting.
The fiduciary section OF the Distric
Bankers Association will have betwee
80 and so bankers and guests at to
nights dinner meeting at the Willard
beginning at 7 O'Clock. AS previousl
noted, the chief speakers will be Reube
A. Lewis of the American Bankers As
ISOLATION and Robertson Griswold, pres
Oent OF Cne FlQuclarleS' ASSOCIATION
Baltimore. F. P. H. Siddons. chairma
of the section, will preside. F.. v
Demio, vice president of the Old Co
ony Trust Co. Boston, and presider
of the Massachusetts, Fiduciaries' Assc
citation, is in the city today and wi
attend the dinner.
Heard in Financial District.
Robert V. Fleming, president Of tt
Riggs National Bank and of the Distri
Bankers Association. has gone to Florlc
to take a weeks rest at Miami.
Loew's, Inc, has declared the regulf
quarterly dividend of $l62l2 on tt
$3.50 cumulative preferred. payab
February IS to stock of record Febrl
airy T.