Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-26
PRICES HOLD FIRM
ON D. c. EXCHANGE
syor -
Bends Share Interest With
.:.sStocks in Active Trad
''1s%
.ai.l,g ing Session.
aaBY EDWARD C. STONE.

+Ts@Fs 81
srsnBY EDWARD C. STONE.
Prices held steady in active trading
on,the Washington Stock Exchange to-
day, fully half of the transactions agar
being in, bonds. Apparently Secretary
Melons advice is being followed fal
more closely now than when he gavt
it several weeks ago.
}The bond issues appearing on the
board today were Potomac Electric
Power IS, Washington Gas SIS, Washing
ton7Gas SIS, series A and series B, Wash
ington Railway 81 Electric and Ana
costa 81 Potomac Railroad SIS. Recent
price levels were maintained, and the
largest turnover was in Railway g. Elec-
trio As.
In the stock division Federal Ameri-
can National Bank sold at 295 and
Security Savings 81 Commercial at 476
Capital Traction figured in small trans
fers at rs. Potomac Electric Power
1o494.
Mergenthaler was strong at 104,
Lanston sold at 107I9, and Peoples Drug
Stores preferred at 102. Merchants
transfer & Storage common sold at
Ill and the preferred at 80. National
Mortgage & Investment preferred fig
ured in 100-share sale at 334.
c. & p. Phone Net OFF Slightly.
Net increase of the Chesapeake e.
Potomac Telephone Co. in october de-
creased 1921 from the same month in
1928, the report of operations, Just filed
with the Public Utilities Commission,
shows.
Telephone operating revenues for Oc-
tober were S7l4,693, with operating ex-
lectable amounted to $49,457, making
net operating income $l49,179.
For the first 10 months of the year
the company's operating revenues
amounted to $6.897,221. Operating ex-
penses during this period were SIS ,O76,-
277. making net operating revenues
$1,820,944. Taxes and uncollectable for
the 10 months period were $495, 1885,
making net operating income 81 1926 ,2O9
Net additions to outside plant and
central office equipment added to the
telephone companyS system in the Dis
trict of Columbia for the 10 months
ending october 81 amounted to S3.l45.-
189. Gross additions for this period
were $4.S54,337, with retirements of
$1,209,148.
The company has shown a substantial
increase in telephones during the first
10 months of the year, 1856 having
been added to the system, making l58,-
ole in service at the end of the month.
Telephone calls. both local and toll, also
show an appreciate increase.
Washington Gas Report Filed.
The statement of operation of the
Washington Gas Light Co., filed with
the Public Utilities Commission, showed
net income for October of $56,l94.76
and one of $708,755.62 for the year to
date. Net income for the month was
$30,044 in excess of that for October,
1928, and that for the 10 months a
$l52,021 .88 improvement over the CORE
spending period last year.
Financial gains were also recorded
for the Georgetown Gas Light Co., net
corporate income of which for last
month was $l2,087.97, gain Of 1,610.38
over the same month last year. It's in
come for the year thus far is $119, 282.50,
or S26,845.02 more than the compare
tive period year ago.
Bond Club Hears Thorpe.
There was large turnout of the
members of the Washington Bond Club
this noon at the National Press Club
to hear Merle Thorpe, editor Of The
Nations Business, on "AdvertiSing's
Opportunity" The bond experts were
guests of the Washington Advertising
Club. Several Washington bankers who
are associate members of the bond or
ganization were present. Mr.. Thorpe's
address is covered elsewhere in todays
Star. His talk was highly entertaining
and instructive.
Mr.. Thorpe believes that the need of
the moment is salesmanship, not high
pressure, but intelligent selling. intelli-
gence in eliminating wastes. He an
nounced that within the past "a hours
he learned that leading publications
and advertising agencies had been in
formed of increased appropriations for
advertising in the immediate future. So
far this month his own publication has
gained more than $250,000 in new bust
ness for 1880.
Advertising is not the mystery which
the laynlan thinks it is. Advertising
comes from the Latin advert" which
means in its virginity to turn the mind
toward" or ito call attention to-" We
are all concerned with turning the at
tention to what we have to sell, whether
it is the services of a housewife, pro-
fessional man, or the commodities Of
factory.
Selling is no longer the pushing of
an article across counter to an in
curing customer, who stands ready with
the price. The real selling brought the
customer to the counter long before the
actual sale was made. Selling today is
encourage, to stimulate, to dignity to
help forward" At any rate, that is
what Noah Webster says it means and
the chief tool of selling is advertising
Mr.. Thorpe asserted
Treasury Financing Announced.
For the first time the United States
Treasury will make use of the power
granted by the last Congress to issue
Treasury bills as part of the quar-
terly financing on December Is. In
addition to the bills, which will bv
offered at discount through competitive
bidding, there also will be an issue Of
certificates of indebtedness.
On December 15 this year there
comes due total of $705 900 900, con-
sisting of an issue of $268, 0O0,0 ceI-
tif1cates, bearing "A per cent, and a
second issue Of" $4,000, 900, bearing
434 per cent.
The leading influence in determining
rates on Treasury certificates is the
current yield on outstanding obliga-
tons. This would indicate that If the
certificates were to be issued at presenL
the rate would be fraction below 4
per cent However, conditions in this
respect may change before Deem
Der is.
Heard in Financial District.
Pittsburgh 81 West Virginia Railroad
has filed an amended application with
the I. C. c. on its proposal to acquire
control of the Western Maryland Rail
road which modifies its original papers
by stating specific stock which 1t would
acquire and designating the prices i
would pay.
Paramount Famous Lasky Corpora
ton receipts from domestic film rental
in the first eight weeks of the fourth
quarter broke all records for any con
secutive eight-week period in the his
tory Of the company and were 26 pc