Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-08-02

aCJlOnS nave Deen
in small lots, but John Poole
the total turnover
up to the. end of last week amounted
to 4.923 shares.
Next in this group has been Wash
ington Railway & Electric preferred,
sales reaching 2,705 shares. Almost as
active. Potomac Electric Power sig per
cent preferred has figured in turn
over of 2,608 shares, trading in this
stock being followed closely by Wash
ington Gas Light stock, with 2,507
shares changing hands.
In the bank stock list Riggs National
shares have been the leaders, lib
shares having changed hands this year
And it happens that Riggs is also the
highest priced bank stock on the board
Next in order has been American Sc
curity 6; Trust with a turnover Of 357
shares, and Federal American, with
sales totaling 339 shares. The Bank of
Bethesda comes fourth. with 339 shares.
In the miscellaneous list Mergenthaler
has been pretty lively 5,197 shares hav-
ing changed hands. Fcderal-American
Go. common has recorded a turnover OF
1,177 shares. Lanston Monotype has
also been active, and there has been
lot of trading in Merchants Transfer &,
Storage, common and preferred. Peo-
pies Drug Stores preferred has appear
ed on the board frequently at advance
ing prices. In the loW-priced issues
National Mortgage & Investment pre-
ferred has led the market with a turn
over of nearly 10000 shares, while 1868
shares of Real Estate Mortgage & Guar
antee preferred have changed hands
The most active bonds have been
Washington Railway & Electric conSol-
idated is in a S2l4,000 turnover, a
Sl97.500 turnover in Capital Traction
first SIS, sales of S154 800 in Washing
ton Gas. Series A. IS, and sales of
S147.700 in Washington Gas B bonds.
Potomac Electric Power SIS and Wash
ington Gas IS also have been in excel
lent demand.
Cheer for Automobile Shareholders.
1.-THE automobile stocks have been
1aggards in the market. Not many
Journal. they we're the star perform
ers. There has been lot of selling
of automobile issues on the ground that
there will be a falling off in produc-
ton in the last half of the year. There
is truth in this. A substantial falling
off in output and sales is looked Tor,
because there is always a shrlnkage IN
the last half of every year.
The concensus is that If general
prosperity continues, 1880 will be pig
wear for the automobile industry. with
prospects of a new high record in out
put. If this forecast is correct the auto
mobile shares will begin to discount the
event many months in advance.
There are more automobiles In &C
tual use in the world today than ever
before. and new high records in regis
trations mean increased safes. N mn
persons out of ten who buy car Will
turn it in for a new one before 1t Is
five wears old. A big source of outlet
for the automobile industry will be sales
to foreign countries. The markets OF
Europe, South America, Africa. China,
Japan and other foreign countries nave
barely been scratched"
Gleanings in Financial District.
John Poole. president of the Federal
American National Bank, is taking his
vacation. Mr. Poole is remaining IN
and around Washington. In spite of
the heat. he has made some excellent
golf scores.
George o. Vass. vice president of the
Riggs National Bank, is back at his desk
after a months vacation spent largely
in the atmosphere of the National Capt.
tai and Chesapeake Bay.
Frank j. Thiel. manager of the Wash
ington Office of M. j. Meehan & Co., has
returned from a motor trip to Yorktown,
Williamsburg, jamestown and Rich
mond.
Earl M. Amick. assistant cashier of
the Riggs National Bark. has returned
from tnree-week motor trip to Canada
and Northern New York State.
E. r. Finckenstaed of G.. M. P: Muir
ply g. Co., who is on a six-week tour
of Europe, is expected back shortly.
Potomac Power Issue Strong.
Potomac Electric Power 512 per cent
preferred stock led interest in todays
trading on the local stock exchange. 1t
time
The stock opened at 1922 and the
days sales amounted to 81 shares.
Riggs National Bank stock sold today
to the extent of 25 shares at 578. The
only other bank stocks out were Mer-
chants Bank & Trust which registered
1902. and Federal National,
which moved at 332.
Capital Traction sold at a. Mergen-
thaler at 1O434, Chevy Chase Dairy pre-
ferred at lot, Federal-American Co.
common at 4412 and the preferred at
1902. Bonds we're neglected. trading
being confined to Gas and Potomac
Electric Power issues at recent price
levels.
The unlisted securities were called
OF. The only notable change was an
advance in the asked price for Interna-
tional Bank stock from 80 to 100.
Seaboard Time Extended.
With more than 10 per cent of Sea-
board Air Lines Railway Co. adjust
ment bonds deposited under the re-
capitalization plan, the company and
the adjustment bondholders' commit
tee announced today that the period
for deposit of bonds had been extend
ed to August 16.
Deposits of adjustment bonds under
the plan at the close of business, July
81, marking the end of the first ex-
tension, plus additional bonds since Of
fered for deposit aggregate $17,602,000,
which is in excess of 10 per cent of the
total of $25,ooO,0o0 of these bonds out
standing.
Childs Votes Dividend.
Directors of Childs Co. have declared
the regular quarterly dividend of &C
cents share on the no par value COM
mon stock and ia per cent on the pre-
ferred stock. both dividends being pay
able September 10, 1929, to stockholders
Of record August %.
Clark, Childs g. Co., members OF tnt
New York, Boston and Chicago Stock
Exchanges, with Offices in New York
Boston, Albany, Detroit, New Bedford
Syracuse and Washington. announce
the opening of branch Office in Provi'
dence, r. 1.