Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-06-04

closing at lUo "a.
Potomac Electric Power per cen
preferred moved at 11214 and the Y pc
cent preferred registered 1855 and los
Railway & Electric preferred also ap
peared on the board, selling at 95es
ONLY one bank stock came out, 20 snare
of Liberty National selling at 245.
In the bond division the largest sale
were in Capital Traction 5s at 9t
Potomac Electric Power IS at 1914 an
Washington Gas IS, series b, Whlci
figured in two $500 sales at 1882 an
six other sales at 1903. The Gas A oono
came out at 1929.
There were no sales today IN WASH
ington Gas Light stock, which reache'
lis yesterday, a gain over the week CIV
of 3 full points. The stock, which close.
yesterday with 124 bid and 126 asked
wound up today's session with 12o Oh
and 125 asked.
New Georgetown Gas Directors.
Three new directors were elected t
the board of the Georgetown Gas Lien
Co at a meeting yesterday, accoroln
tn announcement by Secretary FREQ
erick K. Heupel. James M. Green wa
elected to succeed Joseph Letter. WI
ton j. Lambert to succeed James .. Mc
Ilhenny and George B. Frazer 10 sue
coed A Gray Dawson. :,
Charles C.. Glover, Jr.: Rooert
Weaver, Ord Preston and William KIM
were reelected directors. One OF IN
new directors Mr. Lambert, memoe
Of the washington Gas directorate, wa
the connpany'S general counsel Tor man
wears when the late John r. McLeal
was president. Mr.. Frazer Is nnancla
secretary to Edward B. Mclean, oWne
of the washington Post, and was Tor
rnerlv vice president and trust omcer 9
the Munsey Trust Co. The otner aooi
ton to the board Mr.. Green, Is a a.
rector in the washington Gas blgnI ~
and in the American security q Aius
Co. 1s :.
The New York interests. headed o.
n A. Pearson, which purchased
large number of shares Of the WASH
inrfon Gas Light Co. last year and Oh
+ained recognition on the board
the washington concern at the annua
meeting, are now represented on IN
Georgetown board.
Brahany Proud of Program.
In addition to a comprehensN
rrorram of constructive discussion a
the coming convention OF the Dlstrlc
of Columbia Bankers Association 3
Montar1k Beach. Long Island, there
~ he a series of entertainments unde
the direction of Chairman Thomas
Brahany of the entertainment com
nittee. A. n.
In arranging his program. Mr.. Bra
hanv has had the cooperation an
assistance of Carl Fisher, who Is max
ing every effort to insure a presenta
tion of some of the best talent availa
BILE in the several entertainment
Chairman Brahany believes that tn
entertainment provided for the lS2
convention will be something memor
able, beginning with the first night Q
the convention and climaxing with IN
family dinner to be held the last nlgn
of the convention.
Federal Reserve Borrowings Up.
The Federal Reserve Boards cond
ton statement of weekly reportr
member banks in 10l leading cltlI
shows an increase for the week OF $50
600 900 In borrowings from Federal RI
serve banks, decreases Of $4,000
net deposits. and of $24 100000 in tin
deposits. and a small decrease in tot
loans and investments.
Loans on securities declined S42 900
900 at all reporting banks. $39. 600 O0O
the New York district and $l1,oOO,0I
in the San Francisco district, and II
creased $1,000. 600 at the Chicago oil
trict and 100000 in the Minneapol
district. All other loans increased So
600 900 at all reporting banks and $4e
900 900 at banks in the New YORK oil
trict.
Will Address New York Bankers.
Nathan B. Williams, well know
Washington lawyer, has accepted an II
yitation to address the New York sta
Bankers Association at the annual col
vention which this year Is TO De ne
at the Hotel Royal York in Toront
Canada. Mr.. Williams will speak
June l8 on the subject, Business n
lations With Government" He
made a special study Of this subject al
was at one time associate counSei
the National Association OF Manu1a
turerS.
Market Company Names Trustees.
Stockholders of the Northern Ma
ket Co. Of washington held their a.
nual meeting yesterday for the electi'
of trustees at the company'S ONT
seventh and Q streets northwest, al
passed a resolution to borrow $lS,U
for construction Of an extension at
north end of the existing market hou
facing Seventh.
The following trustees were, J
elected: w. w. MILAN, Edward
Dom, Charles Morgan, Floyd E. DaV
R E. L. smith, A. F. Harlan, ]. En-
Raw, IT., and Frederick L. Vogt.
Southern Earnings Gain.
April showed a decided improveme
In Southern Railway Co.'S traffic a.
earnings in contrast with the pc
showing in March due to bad Weatf
and heavy flood losses. The turn abe
In traffic resulted in an increase
freight revenues of more than 81 90
600 in April, compared with April, 10
For the first four months OF the ye
total operating revenues were S47,25
40, against $46,928,144 in the cor
spending period of 1928, an increase
S326.266. Freight revenues increaS
1884 900, while passenger revenues
creased S574,O00. Mail revenues
creased $150,000.
Commodity Prices Lower.
The wholesale price index of co
modities declined one-fifth OF !
cent during the week ended June
offsetting the advance of an eq
amount during the previous week,
cording to the index Of the Natto
Fertilizer Association. Since Marcf
the index has declined "a per cent
is 80 per cent below the like periot
year ago. During the week SO decli
occurred and only 16 advances.
chief declines were grains, feeds, cat
textiles, sodium nitrate and cottons
meal. The largest advances were ga
line, certain foods, hides and denatu
alcohol.
Production of electric power of p
lie utility power plants in United Sta
for April amounted to 1874, l91,
kilowatt hours, against 1884 ola,
kilowatt hours for March, according
rQspaEtmept4 of 4ntsEaoE, $3.50 4. II.