Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-04-19

ing what is left Of n
the old Nickel Plate
merger, will pro- e3--'--'-'--'4A
vide $30,000,000 lame, A. souer.
with which to pur-
chase a controlling stock interest in
q The rights to the additional stock will
expire July /. Holders of the Series A
stock, in order to avail themselves OF
subscription rights, must convert their
preferred into common stock on or be-
fore April 80 on share for share basis.
The original issue of this stock made in
1922, consisted of 125,585 shares.
70 OF the 100000 shares of outstanding
Chesapeake & Ohio common about $780,
900 shares are held by the Chesapeake
Corporation, a holding company con-
trolled by the Van Sweringens.
With Chesapeake & Ohio selling AT
around 22634 on the New York Stock
Exchange, rights are worth $25.S5.
:, Bankers Get Certificates.
/, Certificates for completion of courses
and awards for the finishing of certain
Studies were awarded at an open meet
ing of Washington Chapter, American
Institute of Banking, last evening at
the new Mckinley High School. James
A. Soper, chapter president conducted
very busy one.
Following the presenting of the vari-
GUS awards, the Security Club of the
American Security & Trust Co. present.
ed the play, THE Whole Towns Talk
Ing" in manner which delighted the
big audience. The arrangements for the
entertainment were in charge OF the
chapters women's committee, OF which
Miss Mabel Royce is chairman, she
being assisted by Judith M. Fishburn,
vice chairman; Hilda Shomo, Esther
Iau, Alace H. Written, Laila M. Sloat,
Eleanor Dankmyer and Mildred Wood
cock.
Those participating in the play were
Clara Gainor, Mary Hughes, w. A. Cady,
Walter Jones, Francis Carrick, Paul
Vanderbilt Bruce Carpenter, Elsie Nc
Fadden, Virginia Heron, Thomas How
ard, Helen Souder, Roberta Offutt.
Serving as usherS were Stuart S. Ogllv1e,
Clivie F. Wilson, Arthur G.. Harmon,
Robert G. Whitton, Charles w. Werden
and Nelson Stokes.
=, Brawner Made National Director.
u. At Yesterdays meeting of the Nation
al Dairy Products Corporation Henry
N. Brawner, jr., president OF Chestnut
Farms Dairy. Inc, was elected to the
board. This is a distinct honor to the
washington man, as National Dairy
Products is one of the largest firms Of
the kind in the country. The action
was taken because of the recent afhl-
iation of the local dairy firm with the
larger organization, Mr.. Brawner still
acting as president of the unit in this
city.
Mr.. Brawner has been at the head of
Chestnut Farms Dairy for nearly 80
years. About a year ago the firm put
out an issue of 81 Zoo, 900 in preferred
stock through the Office of Crane, Paris
& Co. This issue was recently redeemed
at ITO and interest. Holders OF the
common stock we're permitted to ex-
change it for stock in the National
Dairy Products Corporation.
The latter company now has sub
,sidiary units in 1000 cities. 1t was
stated at the meeting yesterday that
business has shown substantial i'm
provement so far this year, and that
the per cent annual stock dividend
on the old stock will be continued on
the new stock.
Railway Preferred Leads Market.
Washington Railway e. Electric pre-
,ferred stock led trading on the Wash
ling Exchange today in market In
(which bonds were more active than
most of the stocks. Railway & Electric
.opened with a block of 40 shares SELL
ing at e71k. Two other sales, involving
rs shares, were also recorded at the
same figure.
Potomac Electric sig per cent pre-
sferred was in favor to the extent OF
IS shares at 1919. The per cent pre-
ferred sold at 112. Gas Light stock |
Has one small transaction in Capital !
Traction at 98a4. Sixty shares OF Real |
Estate Mortgage & Guaranty preferred /
appeared on the board at III.
s Only one bank stock came out TO-DAY, |
10 shares of American Security & Trust, |
telling at 458. The first sale in the |
Sond department was in Chesapeake & |
Potomac Telephone SIS, $1,000 selling at
491as Washington Gas 6s, series A. sold
b 1881 and 1924. Series B Gas 6s
Recorded a $500 transfer at 10412.
I Railway & Electric IS were the most
popular bonds today, two $500 sales |
Ind one $4,000 sale taking place at
s6A.
Heard in Financial District.
1 In connection with next Wednesdays |
institute forum at the Raleigh, the |
usual dinner will be omitted and buff |
let supper will be served after the adj |
eress by Undersecretary Mills on Fed |
tral Financing" Reservations must be |
tn before o'clock Monday morning.
D. w. Pierce, manager of the Wash |
mgton Office of the Toledo Scale Co., |
reports that the concern has bought a !
new sO-acre plant site, the investment |
Involving an outlay of 100000. A new |
factory is to be ready for use on jan |
barry |.
4 This afternoons meeting of the |
standardized forms committee of the !
District Bankers Association is expect |
ed to be, an important one. Decision |
must be reached on several new bank |
zng forms in order to have them printed
and ready for the annual June con-
Jention.
{ During the past week, total Of 81
financial inquiries have been answered
by the Better Business Bureau as a re-
suit of its Before You -Invest-
rate" program. bringing the total num-
Der of inquiries answered to date to
H,002.
9 President Wade H. Cooper Of the
continental Trust Co. and of the United
States Savings Bank Is now serving as
a member of the board Of directors Of
The Nashville Conservatory Of Music
and is still displaying keen interest In
his former home city. Whiteford Z.
Cole. president Of the Louisville &
Nashville Railroad, was made director
At the same time.
Wholesale Prices Gain.
d General level of wholesale prices
allowed a slight increase In March, Blu
Teau of Labor Statistics reports. The
bureaus weighted index number STANDS
at CTS for March, against 96.7 for Feb
Nuary. Compared with March. 1928, an
increase Of more than " per cent Is
shown. Based on these figures the pur-
chasing power Of the dollar IN March
was 1925 compared with 1000 IN 1926.
Farm products as group were up
10 per cent over the preceding month.
THE food group as q whole showed no
schange.