Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-08-18

=
ending August 18,
1928. m
The increase in M
washington was in
line with that re- -
fiected throughout Charles E. Bright.
the Nation, as dis
closed yesterday by Dun'S Review.
which showed total increase OF 48.7
per cent for clearings at important cities
Of the country.
Baltimore, for instance, showed a
total Of $529,000,000 for the week, an
increase of ALL per cent, according to
the Review.
Growth Of Insurance.
The growing nature of the insurance
business Is illustrated in a summary
prepared by j. K. Rice, jr. 81 Co., giving
the increase in assets during the past
six months as compared to increases
during the entire year of 1928 of insur-
ance companies whose half-year state
mentS have been published to date.
Although great sums have been added
to the assets and surplus of these COM
panies through increases in value OF
security portfolios, 1t is pointed out
that the market prices of insurance
stocks do not seem to have discounted
this factor. The insurance stocks, as q
group. are selling on the average only
slightly above the quotations of Deem
Der 81, 1928, while other groups, such
as the banks, public utilities, coppers
and railroads, are from as per cent to
40 per cent higher. Other kinds Of
business and industries often suffer
from new processes and trade varia-,
tions, which result in staggering losses
from large inventories, but the insur-
de- ratt vrolNy fron frOp
such hazard, says the firm.
The report indicates a banner first
half year for most of the leading COM
panies.
The policy of issuing stock dividends,
long customary in the field of industrial
corporations. has been adopted by the
Colonial Trust Co. Of Philadelphia.
This institution has inaugurated
policy of dividend payments to its
stockholders under which q stock
holder has the choice Of receiving pay
ment in cash or payment in stock OF
the bank. This Is the first financial
institution to adopt this plan which
enables It's stockholders to increase
their stock interest in the bank al
though the plan has been in successful
operation by some OF the large indus
trial corporations of the country.
Payments Apportioned.
The payments will be apportioned so
as to make attractive to the stock
holders acceptance of the dividend in
stock rather than In cash. The divi-
dend just declared by the Colonial
Trust in inaugurating the plan has q
value in cash of $3.50 share, whereas
the payment In stock has q value Of
$3.50 on the basis of the present mar
ket value of the banks shares. The
additional advantage in accepting the
stock dividend is that the stakeholder
retains his proportionate interest in
the bank, 1t is pointed out.
The substantial stock interest in the
Colonial Trust Co. was acquired some
months ago by the Goldman Sachs
Grading Corporation, which is controlled
BY the investment banking house of
Goldman Sachs & Co. Early this
month the Colonial Trust Co. an
nounced the incorporation of a Sc
curity company affiliated as the wholly
owned subsidiary of the bank.
Record Freight Traffic.
The volume of freight traffic handled
by the Glass I railroads in the first
six months this year was the greatest
ever reported. according to reports for
that period just received by the Bureau
OF Railway Economics and made pub
JIG today.
Freight traffic for the first half of
1929 totaled 23s, 500, 592 900 net ton
miles, an increase of 1884, SIS. 900 net
ton miles, or 2 per cent over the pre-
ViouS high record for any corresponding
period, established in the first half of
1927. 1t also was an increase of
1857. 10000 net ton miles, or e.s per
GENT, above the first half of 1928.
Railroads in the Eastern district for
she first six months period this year
reported an increase of SO per cent in
the volume of freight traffic handled,
compared with the same period in
1928, while the Southern district re-
ported an increase of 16 per cent. The
Western district reported an increase
Of So per cent.
Freight traffic in June amounted to
A0,724, 921 900 net ton miles, an increase
OF 3,418166000 net ton miles or 90
per cent over the same month last
year. 1t also was an increase of
100000 net ton miles or 5.8 per
cent above that for June, 1927.
In the Eastern district there was an
increase in the volume of freight han
died OF 90 per cent in June, 1929,
compared with the same month in
1923. while the Southern district re-
ported an increase of 81 per cent. The
Western district reported an increase
Of l0.1 per cent.
Power Output Grows.
Further new high records in power
output are shown by the Associated
Gas & Electric System in its report
covering the month Of July and the IL
months ending July 81, 1929, with
gains in the various territorial divisions
ranging as high as % per cent for the
month and over 81 per cent for the IL
months. This Is the first IL months
statement of output of the enlarged
system.
According to liquidation compiled by
Merrill, Lynch & Co., Al chain store
companies report sales for July
amounting to $233 sos, 77s, as compared
with $183, 045, 100 in July, 1923, an in
crease of 27.67 per cent. Sales for the
seven months period were reported at
$1,563, 530,205, as compared with
$3.50, 610.6 $50 in the corresponding Pc
Rod Of 1928, an increase of 25.02 per
cent.
Safeway Stores showed the largest
percentage of increase of any chain,
being 114.S0 per cent for July and
1OO.l6 per cent in the seven months
period Safeway Is now operating ap-
proxinately 2,400 stores, as compared
with 2O2O at the end of 1928 and 916
at the end of 1927. The leaders In
volume are:
July July Pct.
Scar. Ro.suek .ss5 1875 .ad ss7 us us
Kroser Grocery . o.... ..os
Montg. Ward :. 1e30834g l59ISSSs 81.
5st g. B.a 81: iss55s , fssssssssSS it
Amariean SITS -