Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-06
BONDS ARE ACTIVE
ON D. c. EXCHANGE
Title Company Elects Four
New Directors-0ther
Financial Notes.
BY EDWARD C. STONE.

recent price levels. Capital Traction 5S
sold in $4,000 turnover at 10o1a. Po-
tomac Electric consolidated SIS figured
in an $4,000 sale at 1919, while Po-
,omac Electric IS moved at l0834.
Washington Gas IS came out at 10l "a
and Washington Gas 6s. series A, sold
It 1o4. Washington Railway g. Electric
Is brought 88i2 and Barber & Ross
IN the bond division was in Chesapeake
& Potomac Telephone SIS, which moved
1T 1894.
Trading on the stock side opened
with 20 shares of Potomac Electric
Power per cent preferred selling at
112L. Washington Railway g. Electric
preferred sold at 987s to the extent of
20 shares. Real Estate Title Insurance
came out at 235, and Sand e. Gravel
preferred changed hands at 95.
Federal American Co. common was
7ctive, opening and closing at 53l4.
The days sales totaled 80 shares.
Peoples Drug Stores preferred was
c-rcng. "a shares changing hands. ex-
dividend, at 100 Among the unlisted
securities Park Savings Bank stock was
strong at "a for a small lot.
The first annual meeting of the Capt.
Sol Title & Guarantee Co. was held yes
.erday afternoon and four new directors
~dded to the board. William H. Nc
Neal vice president of the New York
title &, Mortgage Co.. with which the
zeal firm is very closely associated
',eads the list. w. Meade Holiday
resident of the Eastern Shore Trust
20. of Annapolis; John H. Duncan.
-ormer vice president of the Title Guar
-1tv & Trust Co. of Baltimore, and
William S. Ouinter. president Of the
~iStrict Building a. Loan Association OF
lis city. were the other members made
''irectors.
The shareholders reelected to the
lard F. Charles La Sale Bryant. Ed
md s. Djckev. John Paul Earnest. DIR.
'ark r. Finley, Lyle S. Lipscomb,
Jorge r. Springston. luke G. Striter,
-n1uel S. Spruce, William C. Taylor.
''ot H. Thomson and Nathaniel S.
Teinstein. The new board will meet
MORROW for organization.
The new COMPANY is hardly a year
y. but President Earnest reports ex-
-llent business. the past six months
wing shown particularly good prog
>~s. The company onerates in Wash
~rton and surrounding territory in
raryland and Virginia.
Banker Wins Golf Honors.
The following special dispatch needs
- exclamation:
MELBOURNE. Fla. March Cen
,'nrd Mitchell, rrominent capitalist
Washington. D. c., and director of
ne Liberty National Bank, today won
re gold tournament on the 1ndialantic
-otel links. The prize was handsome
It of Walter Hagen irons. Mr.. Mitchell
boots left-handed. drives hard. but is
'rongest on the greens. The five irons
r~e right-handed clubs, but will be
BANGED to suit Mitch"
Mr. Mitchell is the fourth Washington
Tnancier to visit Indialantic this
Jason. I. A. F.
Big Gain in Phone Earnings.
Detailed figures from the report to
tockholders of the American Telephone
= Telegraph Co. reveal many surprising
~,ins Operating revenues in 1928 were
>975 ,426,823,1 against 1884,, 699,173 in
927. Balance sheet as of December 81,
928, shows total assets and total
abilities of $2,213,327, 685, against
81 .949, 690,057 in 1927. Temporary cash
Investments of $122, 1886, 1924, compared
u
ssociated and other companies were
Il, $50, 559, 248, against 81 ,428, los, 696 in
previous year. Bonds and notes of aSso-
lated companies of s198, 760873 con-
trast with $211, 524, 712 in 1927. Surplus
IF $317. 405, Ala compares with $272 ,435,-
$50 in the preceding year.
Stockholders rose from 423,580 to
A54,596. the average holding now be-
ing % shares The offer of $l85, 1863, 900
IF new stock brought in more than 264,-
coo subscriptions
New Investment Service Urged.
Association Journal, Craig B. Lakewood
says:
Nowhere have bankers failed more
completely than in their ignorance on
he subject of general investment Sc
curitieS, and In their failure not only
% invest their own funds wisely, but
also to encourage sound and diversified
Investment among their customers. This
3ounds like an indictment It Is not so
Intended. 1t is stage in the evolution
OF new and more adequate type of
oank manager. But If this condition
prevails 10 years from now it should
be stated as an indictment. During the
course of the coming year it is my
hope that the American Bankers As
ISOLATION may devise ways and means
whereby the association will be of prac-
tlcal assistance to bankers on the intri-
cate subject of investments"
Heard in Financial District.
George E. Fleming, vice president of
the Union Trust Co., who has been con-
fined to his home for several weeks
with neck infection, is reported as
GAMING CtnadilB MN a.
former president of the District Bank
ers' Association and has been an active
figure in the financial section for many
years.
Ezra Gould, president of the Wash
ington Mechanics Savings Bank. has re-
turned to the city after a five-week
trip to Cuba and Palm Beach He was
accompanied by Mrs. Gould and Mrs.
Walter K. Bachrach. Mr.. Bachrach is
director in Mr.. Gould's bank
David H. Blair, commissioner of In
ternal Revenue, will be the speaker on
the Halsey. Stuart g. Co.. radio pro-
gram tomorrow night, taking Federal
Taxes and Their Administration" as his
subject.
Commodity Prices Steady.
Prices Of commodities during the week
ended March 2 showed no change from
the previous week, according to the
wholesale price index of the National
Fertilizer Association. Material ad-
vances occurred, however, in the textile
group, fats, metals, hogs and feeds A
decline of l.3 per cent occurred in the
food group, due Target to a sharp de-
cline in eggs and more moderate de-
cline IN number of other foods.
Pennsy In Strong Position.
The general balance sheet of the
Pennsylvania Railroad Co, as of De-
cember 81, 1928, has been completed.
The investment in the road and equip
ment of the company, at the close OF
the year, amounted to $1,13l 400 ,844, an
increase in the 12-month period of
S45,936,363 The increase was due to
nnrn4r hot 70