Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-01-09

bia University and editor of the Journal
of Commerce. To many ne Is better
known as an author than educator.
He has been asked to speak on the
present money situation and also 10
discuss the outlook. His views at this
time are sure to be of special value to
all bankers. The program for the meet
ing is in charge of w. w. Spaid.
Metropolitan Bank Organizes.
The directors of the National Metro
politan Bank met early this afternoon
and organized for the coming year by
electing the following officers:
George w. White. president; Q. H. z.
johnson. vice president; A. A. Hoehling,
vice president and general counsel;
Frederick De c. Faust, trust officer: r..
P, Hollingsworth, assistant trust officer
G. F. jacobsen, cashier: c. E. Bright,
A. H. Bedford and c. L. Eckloff, as
sistant cashiers.
Mr.. White has been at the head of
the Metropolitan Bank for about 20
years. and has played a vital part in
the institutions steady growth. The
directors did not fill the position CT au-
ditor left vacant by j. Gales Moore,
who recently retired because of his age.
Prices Steady cn ID. c. Exchange.
Trading was broad on the Wash
ingtod Stock Exchange today bank
stocks drawing considerable attention.
Ten shares of Federal-American Ma
tional sold at $40. Riggs National sold
to the extent of eight shares at SOS and
10 shares of National Savings &, Trust
sold at 517l2. After call, IL shares of
National Bank of Washington changed
hands at 313.
Bonds. which were so popular yes
terd".v. were quite active again today
Washington Gas SIS figured in 81 600
sale at 1929. Washington Railway g.
Electric As sold at 81 in $1,000 turn
over. Washington Railway g. Electric
General IS moved at 102 and 1929.
Capital Traction stock sold today at
1864. Potomac Electric 5la per cent
preferred at 1924 and 103ls and Wash
ington Railway & Electric preferred at
1914. Four shares of Peoples Drug
Stores preferred came out at 1884.
Fifty shares of National Union Fire
Insurance Co. stock changed hands at
2Sla, and 100 shares of National Mort
gage & Investment preferred at 55s
Foreign Issues Compared.
Foreign securities issued in the United
States during 1923 totaled 81 1926, 487,-
$50, being exceeded only by the foreign
issues offered in 1927, amounting to
1882, 595, 760 according to the Com
merce Department.
Issues offered during the last half of
1928 totaled S379, 900 900. lowest for any
corresponding period since first half of
1924 period. The decrease is attributed
to high level of interest rates in this
country In the first half 1928 foreign
issues totaled more than $1,000,0 100000,
of which nearly two-thirds were brought
out in the second quarter.
Peoples Drug Sales in 1928.
Sales of Peoples Drug Stores, Inc, of
Washington totaled $11 ,348, 645 in 1928,
against $8,142,24l in 1927.
The S. S. KreSge Co. recently dis
tributed Christmas bonuses totaling
S412,788, compared with S372,l in
1927. OF the 1928 distribution. S379,-
949 went to store employees and $751;
S39 to Office emp eyes.
Schultz Retail Stores Corporation has
declared the regular quarterly dividends
of 8712 cents in cash on the common
and u of l per cent in common stock
on the common, both payable March
to stock of record February Is.
The meeting of the bank auditors
section of the District Bankers Asso-
tomorrow night, has been postponed
until January II, j. Damn Faber an
nounced today.
Other Financial Notes.
The majority of chain stores report
ing sales for 1928 show good increase
over the previous year. McCrory Stores
Corporation reports sales in the month
of December of $7,215.955, as compared
with $6,857 ,307 in the 1927 period Fol
the IL months aggregate sales were
s4l.103,418. against 1885, 10l in 1927
an increase of AS per cent.
The Stable Money Association an.
nounced yesterday that Myron T. Her
rick, Ambassador to France and chair
man of the board of the Society fol
Savings of Cleveland, has accepted ap-
pointment as an honorary vice presi.
dent Of the association.
The Miller Train Coz trol Co. an.
nounced yesterday the signing of con.
tracts for the installation of traffic.
regulation systems in Upper Derby, Pa.
West Philadelphia, Everett, Pa; Staun
ton, Va, and Danville, Ill.