Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-20

| StoAAuAlS alC uOW IA Tile 1ldIluS VI u
I: public.
The company proposes to redeem tt
issue at 102 per cent of the face valu
and accrued interest 1t is also ar
nounced that the corporation will tax
them up prior to May / If holders pre-
fer to sell them at once. In this cas-
the price paid will be 102 net, plus intel
est to the date of the purchase. TIL
American Security & Trust Co. is tn
trustee and the bonds must be presente
at the banks main Office for payment.
Power Bond Issue Authorized.
The Potomac Electric Power Co. wa
authorized by the Public Utilities Com
mission yesterday to issue 81, 100000
consolidated mortgage per cent gol
bonds to redeem like amount of 2s
year first mortgage S per cent gol
bonds maturing June 80.
The bonds are to be sold to the trus
tees of the first mortgage bonds at no
less than par and will not be offered
the public. The issue will complete re
tirement of the 100000 issue of frs
mortgage bonds, which was floated i
1906 and natures in 1886.
Convention Chairmen Announced.
The following chairmen Of the specis
convention committees have been an
nounced by c. H. Pope, general chair
man:
Program committee, Frederick p. +
SiddonS, American Security g. Trus
Co.: entertainment committee. Thoma
w. Brahany, Crane, Paris g. Co.; trans
portation, Claude H. Woodward, Noun
Vernon Savings Bank; hotels, H. L. Sci
by, Farmers 81 Mechanics branch O
Riggs National Bank; sports, Frederic
H. Cox, Commercial National Bank
publicity and press, James A. Sopel
Lincoln National Bank; ladies, Mrs
Robert v. Fleming.
The new committees chairmen, to
gether with the officers of the associa
ton, met at the home of President Rob
ert v. Fleming last evenig and had al
extensive discussion of methods to max
the June gathering the best one We
held. 1t Is expected there will be
number of innovations at Montauk
which will make strong appeal to a.
local bankers. President Fleming leave
here today for short visit to Florida
and will see Manager Fisher Of tn
Montauk Beach development Will
there.
Dividend Payments Due Soon.
The Chevy Chase Dairy directors nav
declared the regular quarterly dividen
of IA per cent on the per cent cumu
latiye preferred stock. The diSburse
ment is payable March to stock Of rec
ord February Is.
The Potomac Electric Power IL pc
cent dividend on the 6 per cent pre-
ferred and l y per cent on the 5h pc
cent preferred stock is due on Marc
/, stock of record February IA.
The Washington Railway 81 Electri
Semi-annual dividend on the preferre
stock was recently declared, payabl
on June to stock of record May II
Stockholders holding certificates chang
ing the time and manner of paymer
to quarterly disbursement, will. b
paid half of the dividend on Marc
/. The ia per cent dividend on tn
common Is also payable on the sam
date to stock Of record FEBRUARY Is.
Lanston Monotype stock is now sell
ing ex-dividend on the Washingto
Stock Exchange, the regular quarterl
/ u per cent divident having been de
clared a few days ago. 1t is payabl
February % to stockholders of recor
February Is.
AirpIane Stock Offered.
Offering of 10000 shares of capt.;
stock of no par value, at price {
s12.5o q share, is being made by til
United States Air Transport, Inc
which operates the Washington-Ne
York air line, the Washington airpol
and the Gettysburg flying field.
The purpose of the financing. as an
nounced by Robert E. Funkhouse
president of the company, is to expan
| the present Washington-N York a
line to include other keyports an
metropolitan sections, such as Pitt:
burgh, Philadelphia, Atlantic City, Ba
timore and Norfolk. 1t also is propose
to purchase additional equipment, an
to improve present ports by the cor
struction of additional hangers, office
runways and similar facilities.
Lemon Made Partner in Firm.
James Hanson Lemon, who has bee
associated with Irving g. johnson for
number of years. has been admitted
partnership in the firm. Mr. Lemon
a graduate of Central High School an
Princeton University, where he We
| prominent in athletics. He entered til
financial field here just after his grac
uation from Princeton.
AS recently announced, Edison b. Old
| jr., has also become associated with tn
firm. He is a graduate of the Univcl
sity Of Maryland and son of Edison
Olds. vice president and treasurer {
the Union Trust Co.
Stocks Strong on Local Exchange.
Lanston Monotype sold ex-dividen
up to 126 on the Washington Stock E,
change today. Mergenthaler Linotyr
also reached new top on the presei
move, opening at los and closing /;
1851.
Capital Traction sold at 1063s, Raj
way & Electric preferred, ex-dividen
at 98% and 80; Potomac Electric Pow
per cent preferred at 112 and the S
g. Gravel moved at 95X WashingtC
Gas IS, series A, moved in small demon
nations at 104 and 1929, while Gas
sold at 1912 and 1929.
Heard In Financial District.
T. Howard Duckett has assumed h
new duties as president of the Title
Investment Co. of Maryland, which h
its head Offices here. Mr.. Duckett
concerned with several important co
porations in Maryland and Washingto
The Monthly Bulletin of the Distri
Bankers Association came out toda
containing complete review Of recel
activities.
All the banks in Washington will
closed on Monday, March 4, Inaugur,
ton day.
A slight upward tendency of Who'll
sale prices from December, 1928,
January, 1929, is shown by reports
! Bureau of Labor Statistics. Bureau
weighted index number, computed {
prices In the year 1926, as the base al
including $50 commodities or pri
series, stands at 97.2 for Januar
against 96.7 for December, or an Il
crease of u of per cent and an il
crease Of nearly per cent over Januai
1923. ,....-.--.........-.-...--.-.--.---.-