Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-09-05
BONDS IN DEMAND
ON D c. EXCHANGE
List Shows Greater Activity
Than for Some Time.
Utilities Active.
BY EDWARD C. STONE.


Both the volume of trading and the
number of different issues appearing
on the board attracted considerable at
tention.
The first transaction was $500 trans
fer in Capital Traction SIS at 95A. This
same bonds at IS. Washington Gas SIS
opened with a $1,000. sale at par and
IA and later sold in the same amount
at 100.
Washington Gas IS, series B, figured
in two 81 900 sales at los. washington
Railway g. Electric As were the most
active bonds on the list. They opened
with a $500 transfer at 85 followed
by a 81 900 bond selling at 859s, two
$1,000 sales at 85la and two closing
$1,000 sales at 85A.
Business in the stock division opened
with Capital Traction moving at 931 to
the extent of 20 shares. Potomac Elec-
trio 6 per cent preferred registered liz,
while the ~ per cent preferred changed
hands at 1865. One share OF Ameri.
can Fire Insurance Co. came out at
325, Barber & Ross sold at IL, Columbia
Sand 81 Gravel at 80 and District Ma
tional Securities preferred at 80.
American Security g. Trust, selling at
ass, was the only bank stock out today
Lanston sold at 1924 and Mergenthaler
ex dividend at 1035s. woodward d
Lothrop preferred figured in several
small lot sales at 10712 ana lOT.
Ninety-five shares of Firemen's InSur-
ance Co. sold at 43la.
Stonier to Address A. I. b. Members.
Harold Stonier, director of education
in the American Institute OF Banking.
will address members Of the local chap
ter tomorrow evening at the Ralelgn.
This year the members of the faculty,
the consuls and the members OF the
educational committee are uniting IN
having a dinner, at which plans Will pc
completed for opening the Fall courses
at the institute.
Frank M. Perley, chairman OF the
local educational committee. has mace
plans for this important event. CLASS
work begins soon and the ofncers are
already looking for a very large attend
ance. Mr.. Stonier has spoken mere
before and is always heard with the
keenest interest. He Is a brilliant
speaker.
New Investment Trust Formed.
Sponsored by Gillet & Co.. the Appa.
lachian Corporation has been organzed
under the laws Of Maryland, Win
authorized capital of 1000 600 shares
Of no mar value stock, of which 200, 900
shares will be issued Immediately, Tor
which subscribers will pay total OF
GilIet e. Co. have purchased a sub
stantial amount of the stock OF the
new corporation and have been granted
options for the purchase In the aggre-
gate of an amount OF STOCK equal 10 %
per cent of all stock issued. -,
Under its charter the corporation Will
be empowered to buy, sell, trade In,
or hold stock and securities OF every
kind, to participate in syndicateS ana
underWritingS, and to exercise other
powers as the board of directors may
from time to time determine.
The directorate is composed of MEM
bers of the Gillet firm and others. APP
plication will be made to list the stock
on the Baltimore Stock Exchange.
Investment Company Organized.
The Hambleton Corporation, an in
vesting company which will begin ousi-
ness with capital in excess of $1,000, 900,
has been formed by Hambleton q Co.
Inc, an investment banking house
which has been in existence since 1865.
It is understood the offering Will con-
Sist of one share each OF participating
cumulative SO dividend preferred stock
and common stock without par value.
The company will have an authorized
capital consisting of 100000 shares Of
the preferred STOCK half of which will
be offered now, and 100000 shares OF
common stock, all of which will be
presently outstanding.
The corporation has been formed
for the purpose of acquiring control
or substantial interest in banks, public
utility, industrial and investment COM
panies and other concerns in order to
bring about consolidation or to engage
in development work, looking to the
creation Of seasoned securities.
Edward J. McQuade, vice president of
the Liberty National Bank left Wash
ington Yesterday for the Pacific Coast,
where he will enjoy an extended va
cation tour and attend the annual con-
vention of the American Bankers AS
ISOLATION early in october.
Hilleary G. Hoskinson, vice president
of the Riggs National Bank, will leave
here next Saturday to attend the same
convention So far as known these two
bankers will be the only Washington
representatives at the big conclave at
San Francisco. This is due to the fact
that the convention two years ago was
held at Los Angeles and many local
bankers went West at that time.
Other Financial District Notes.
Frank P. Hartman. jr., vice president
of the Merchants Bank & Trust Co., Is
Ridge Summit.
Thomas w. Brahany of Crane, Paris
& Co., has returned from a hurried
trip to Wisconsin, where he went to
bring his family home from a long
Summer visit in that State.
Miss Mary j. Winfree, secretary Of
the Continental Trust Co., is on a two
week vacation motor trip through
Joseph A. Rafferty,, trust officer of the
Merchants Bank q Trust Co., who has
been on a vacation in Canada. Is back
at his desk.
p. j. Mcmahon, assistant treasurer
of the MunSey Trust Co., and Secretary
T. C. Willis Of the same institution
have returned from their vacations.
George T. Summerlith, jr., OF the
Washington Loan g. Trust Co., has re-
turned from a short visit to Atlantic
City.
George L. Starkey, president Of the
National Bank of Washington, left here
today for an extended motor trip
through the New England States.
Insurance Club Popular.
Evidence of the success of the Acacia
Club of the Acacia Mutual Life Asso-
citation, is found in figures just made
public by President William Montgom-
ery. From April /, the club has been
host to more than 100 guests from
every State in the Union.
New York Stock Exchange brokers
loans increased $407. 1926, 1872 during Au'
gust to 1881 ,619 ,426, new high record
Ioew's. Inc, has declared regular
quarterly dividend for so cents on COM
mon stock, payable September 80, tt
stock of record September ID.
Virginia. Carolina Chemical Corpora
ton has declared q dividend OF 50 OF
its 6 per cent preferred on account o.
accumulated dividends, payable DC,
49, IL g NrA