Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-01-18

1erred S0IQ at 993S 8s%
and 400 shares of
National Mortgage
& Investment pre-
ferred moved at Ogden L. Mills.
SIS.
In the bond division Chestnut Farm
Dairy 61as sold at 107, washington
Railway g. Electric general IS at 1927
Chesapeake g. Potomac Telephone @
Virginia SIS at 1031s and Potomac Elec
trio Power first SIS at 100. Only on
stock in the entire list is now bein
quoted ex dividend that being Wash
ington Gas. Today's market as
whole was unusually quiet.
66 Peoples Insures $50 Employees.
M H. Gibbs, president of People
Drug Stores Inc, reports that ms com
pany has entered into an agreemen
with the Equitable Life Insurance so
ciety to provide life and total dis
ability insurance to employees by grou
insurance contract under which tn
x;r1Ig chain UNDERWRITERS substantial
portion of the premium. The plan en-
ables employees to obtain insuranc
which might otherwise be too expensive
or for physical reasons impossible to OBJ
tain. The offer was made as token o
appreciation of the work done durlni
the past year. :,
Mr.. Gibbs said that new employees vii
be eligible for the insurance after
brief period of service At present owe
$50 employees have been insured and tn
total amount covered by the plan Is IL
excess of 100000.
Peoples Drug Stores. Inc, was estab
Ashed by Mr.. Gibbs in 1905 and ha
steadily grown until today the com
CT
Washington, Virginia. Maryland, Penn
sylvania, Ohio and West Virginia. It i
estimated by officials that the volume
of business for 1929 will reach $l4,
100000.
Undersecretary Mills to Speak,
Chairman I. j. Roberts of the insti
Cute forum committee announces tina
Ogden L. Mills, Undersecretary OF TIT
Treasury, will be the speaker at TIT
next meeting to be held on wednesday
February 6, at the Raleigh. His sublec
will be Federal Financing" Instead o.
the usual dinner the meeting is to beglr
at 8 O'Clock and be followed by buf'
tet supper, a plan that has been adopted
at bankers meetings with marked sue
cess. Working with Chairman Robert;
on the committee are Frederick H. Cox
Commercial National Bank; Harold w
Burnside, Riggs National; T. Hunter
Leith, Security Savings & Commercial
and Miss Ruth Lau, Riggs National.
Peyser Again Heads Corporation.
The annual meeting of the stockhold
ers of the Bankers Consolidated Cor
poration was held at the office OF tn
company, 1918 K street northwest, OF
Tuesday. These officers were elected
for the coming year:
Julius I. PeySer, president; Fred Nc
Kee, vice president and trust of11cer
Milton StraSburger, counsel; Benjamin
r. Adams, treasurer, and Jerome p
FTiedlander, secretary.
The foregoing, together with E. Stuart
Poston, we're elected as the board o.
directors for the ensuing year.
Bank Mails Dividend Checks.
The Bank Bnei Brak, a commercial
bank in Palestine, through its Ameri'
can Office of the Peoples Life Insurance.
Building in Washington, has just mailed
cut dividend checks to 1000 Stockhold
ers throughout the United States for thu
second successive year. Arthur M
Schiller, the secretary, is also sending
out statement comparing the state
ment of condition on September 26
1928. with that of September 26, 1927.
The bank reported an increase fol
the year of SAL ,26718. Cash on hand
9oans. securities held, capital, reserv,
elnds, deposits and profits all showed
marked gains during the year.
Railroad Valuations Discussed.
An interesting pamphlet on tn
''Valuation of Railroads has just beer
mt hxT to- h erfn off 10
of the National Association of Owner
of Railroad and Public Utility Securi
ties. 1t is a non-technical discussion
of the development of great regula
tory problem and Is inspired at thi
time because of interest in the O'Fallol
case, known as the million-dollar law
suit. The case was given oral argumen
before the United States Supreme Cour
only few days ago. Bankers an,
others interested in the valuation prob
Gem can obtain the new booklet from
o. P. Artaud. head of the research Office
IN the Mills Building.
Mount Vernon Elects Officers.
Organization Of the directors of tn
Mount Vernon Savings Bank for tn
coming year, late yesterday, resulted il
the reelection of these officers: F
Golden Donaldson. chairman OF tn
board; Claude H. Woodward, president
A. o. Wharton, William H. Johnston
Z. C. Dawson and Frank w. Lee, vic
presidents; Leo E. Maddigan, controller
Robert r. Highfield, cashier: T. Edwt
Norris and A. Mistretta, assistant cash
aers, and Hayden Johnson, counsel.
Continental Employees Insured.
An increase of so per cent in tn
amount of group life and accidents
death insurance provided for employe
of the Continental Baking Co. was an
nounced today by William Jorg, mana
ger. from the Washington office.
The cost of the additional insuranc
will be borne entirely by the compan
Snd it will be available to all employs
of one years service, as well as to thoS
insured in the previous group insurane
plan, under which the company and tr
employees share the cost, the announce
'snent stated.
Che schedule of benefits is based o
weekly salaries. with a minimum
hs750 and a maximum of $4,000. and II
same amounts for accidental death an
ACKNOWLEDGMENT benefits" Mr.. Jorg sal
Heard in Financial District.
The class in credits at the America
Institute of Banking presented
instructor, Edward J. McQuade, with
handsome fountain pen desk set at u
final examinations ending the nr
semester.
w, w. NARROW, cashier of the Secor
National Bank, who is confined to =
home with pneumonia, has passed u
most critical point and Is slowly IN
proving. -. a.
+he washington Loan & Trust Co. w
address group 3 of the Virginia Ban
ers' Association, tomorrow morning
at ife Insurance Trusts"
David Baer was added to the dire
torate of the Washington Finan
Service Corporation at the annu
meeting.