Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-04-29
WHOLESALE TRADE
HOLDING UP HERE
:, onds in Fair Demand on
Exchange-S1, 900, 900
in Notes Paid Off.
BY EDWARD C. STONE.

BY EDWARD c. STONE.
Wholesale sales in March in the
Washington area and elsewhere in the
fifth Federal Reserve District were be.
i3w 1928, but above February, according
ID announcement today by the Fedora
deserve Bank of Richmond. Spring
requirements and favorable weather re.
suited in larger refill orders than in Feb
Fuary and otherwise stimulating retail
trade.
Sales during the first quarter of this
rear were higher in drugs but lower in
groceries. dry goods, shoes, hardware
and furniture.
Stocks on hand at the end of March
we're larger in hardware than last year,
but were lower in other lines. This
was considered seasonal development
after the bulk of Spring and early Sum-
mer shipments had been made.
Collections in dry goods, hardware
and drugs for March were higher than
for March last year. but lower in gro
ceries and shoes. All of the changes in
percentage were slight.
Bonds in Moderate Demand Here.
Bonds were in moderate demand on
he Washington Stock Exchange today,
Railway g. Electric As leading the trad
ing, with 81 900 and $4,000 transactions
at 8634. A $1,000 Washington Gas g.,
Series A, sold at 1903. Washington Gas
IS sold in $1,000 and $4,000 denomina-
tons at 1907, while $1,000 Capital
Traction SIS came out at 9915. Gas SIS
closed the bond market with $500
sale at 1904.
Potomac Electric Power 5Ik per cent
preferred sold at 1071s, Chevy Chase
Dairy preferred registered 1861, and
30 shares of Mergenthaler Linotype ap-
peared on the board at 10715.
District National was the only bank
stock out, selling at 235, while 10 shares
Of Chaplin Sacks s per cent preferred
changed hands in the unlisted depart
ment at lot.
SI,000,000 In Notes Paid OF.
Southern Diaries. Inc, has just paid
of 81 100000 in outstanding notes, ac-
cording to announcement made today
by President Perot.
1t will be recalled that the company's
annual report was published recently
and showed marked increase in earn
ings during the past year. The calling
of these notes is another indication of
the big dairy concerns growing pros
perity.
Southern Diaries has two stock issues
On the New York Stock Exchange, the
class A stock closing Saturday at 3S34
and the class B at 1888. The high for
the year in the class A is A and in the
class B issue 159s.
Iglehart to Offer Bonds.
A group headed by j. w. Iglehart
d Co. and Arthur Perry 81 Co. of Bos-
ton and Philadelphia viii offer tomor-
row a new issue of $2,500,0 900 collateral
trust per cent convertible gold bonds
of the National Food Products Corpora
ton. a Maryland corporation, which op-
crates primarily in the chain grocery
field.
The bonds, dated May /, 1929 and
maturing May /, 1914, viii be offered at
1912 and accrued interest to yield ap-
proximately SOS per cent. Application
win be made to list the bonds on the
New York Curb Market.
National Food Products Corporation
controls the David Fender Grocery Co.,
which operates 396 stores In Virginia
and North Carolina, and has Just ac-
quired control of the Southern Grocery
Stores, Inc, which operates 3S5 stores
IN South Carolina. Georgia and Ala
bama. Although these two chains will
not be consolidated, present plans call
for their operation under cooperative
management.
Chapman Purchases Summer Home.
G. Bowie Chapman, resident partner
OF Hartman d Co.. was back at his
ONCE today after trip to Maine, where
ne purchased Summer home. The new
Summer place Is way down East" at
Castine, being situated on q high bluff
overlooking Penobscot Bay. It is one
OF the most attractive spots along the
Maine coast. By motoring. to Rockland
Mr.. Chapman can get train service
which will bring him to washington
in a day In case market conditions
should call for hurried trip. He spent
last Summer abroad. but decided he
would rather join Names throng of
visitors this year.
Stock Placed on Curb Market.
Perot. Adair & Co., private bankers
with Offices in Washington and New
York, have purchased a substantial in
terest in the Orange Crush Co. The
stock has been listed on the New York
Curb Exchange, trading taking place in
the issue for the first time today. The
company was organized in 1916. Among
the directors are j. L. Kraft and H. j.
firm. which has now become financially
interested in the concern.
Brokers on Daylight Time.
All the broker offices In Washington
went on daylight saving time this morn
ing when the New York Stock Exchange
opened at instead of 10 o'clock. Some
Offices set their clocks ahead an hour.
The new schedule will be in force until
the last day of September. While the
experts In high Wall Street finance have
to get down town earlier, they enjoy
the extra hour later in the day.
Heard in Financial District.
Eugene z. Thompson of Crane, Paris
&, Co, Is attending the annual sessions
Of the United States Chamber Of Com
merce as representative of the Asso-
ciated Stock Exchanges of which organ
tzation he Is president, and also for the
Investment Bankers Association OF
America in which organization he is a
member of the national council.
Local investment bankers have re-
ceived notices of the coming Spring
outing of the Investment Bankers
Association which will be a two-day
visit at Virginia Beach. The party will
leave Baltimore on Friday afternoon
June Z, on the new City OF yorktown
returning to Baltimore Monday morn
ing. Golf will be one of the special
features at Virginia Beach.
The Pennroad Corporation, in a let
ter which is being sent to stockholders
of the Pennsylvania Railroad Co., offers
to them at SIS a share voting trust
certificates for 100000 shares Of COM
mon stock of the corporation. The offel
Is open also to employees of the railroad
who now hold stock in 1t.