Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-13
BANK STOCKSLEAD
IN DAYS TURNOVER
ON D. c. EXCHANGE
Washington "BIue Chip" Is
sues Prove Feature at
Quiet Session.
GAS COMPANY DECLARES
QUARTERLY DIVIDEND
Local Market Will Be Closed
Good Friday and Next
Day Also.
BY EDWARD C. STONE.


Three high-priced local bank stocks
appeared on the board during Saturday
trading on the Washington Stock EX-
change, all blue chip" issues, so to
speak.
American Security & Trust Co. stock
was the first to change hands, figuring
in small sale at 42512.
Next to appear on the list was Wash
ington Loan & Trust, two five-share
lots changing hands at $500 per share.
The other bank stock was National
Metropolitan, which sold ex-dividend
to the extent of IL shares at $375.
Other trading was quiet on the ex-
change. Lanston failed to furnish the
fireworks it had on Friday. Just four
shares changed hands at the new high
for the year of SIPS. The low for the
year in this issue is $113. On Friday
the stock jumped from Silt to $125.
Lanston pays 8 per cent, the company
Is splendidly managed and an excellent
report is expected at the annual meet
ing to be held on May l, in Alexandria.
Merchants Transfer & Storage pre-
ferred sold yesterday at $500, Barber
& Ross common came out at SIC,
Mergenthaler Linotype moved at SOB
and Peoples Drug Stores preferred again
registered $10850 After CALL one of
the recently active issues, Emerson's
tomac Electric Power 51s per cent pre-
ferred brought $l08.50. Railway g.
Electric preferred sold at $97.
Governors Vote Holiday.
In the bond division Capital Traction
IS sold at 500, Anacostia Potomac Rail-
rad SIS sold at $3.50. Unlisted depart
ing the week. The asked price was
raised on Chapin-Sacks per cent pre-
ferred to $40.
The board of governors has voted to
close the exchange on Good Friday
and on the Saturday following the
New York Stock Exchange having taken
similar action. Off1cials have received
many inquiries lately as to whether the
handsome new quarters are open to the
public.
In reply it should be stated that all
sessions are open to the public and
that visitors are always cordially well
coined. Seats are provided especially
for visitors. the new headquarters being
on the sixth floor Of the Washington
Building.
1t was announced on the exchange
yesterday that the directors of the
Washington Gas Light Co. have de-
clared the regular quarterly dividend
of 80 cents per share. This disburse-
ment is payable May to stockholders
OF record on April is.
Childs Boosts Net 100000
The Childs Co., largest chain restaur-
ant system in the country, has found
It more profitable to give customers
what they want than to attempt to
educate them to "meatless menus" and
other things officials of the company
thought they ought to have.
Were IT, not for the sale of real estate
last year, Childs would have been
$4,000 in the red, William H. Barber,
principal director and acting head of
the company, told Sales Management.
AS a result of the new policy,
launched after a reorganization a year
ago, net operating income OF 1929
jumped $1,081, 483, he said. The in
creased use Of consumer advertising
was also factor.
Heard in Financial District.
George Wood of Chicago will assume
his duties at once as president Of the
Washington Gas Light Co., having been
elected to that position yesterday by
the board of directors. He succeeds
Ord Preston, who recently resigned.
More than 200 bankers are expected
at the annual Spring dinner of the Dis
trict Bankers Association tomorrow
evening at the Columbia Country Club.
Senator Pat Harrison and Attorney
Carter B. Keene are the speakers.
General Chairman George O. VasS
will outline plans for the coming Ashe-
vile convention at this meeting. The
dates are June S, 6, and 8. The
party leaves here at pm. June and
reaches home Monday morning, June 8.
While it is the longest trip the bankers
have taken to their convention, the
expense has been held down to last
years figure.
Among the special guests at tomor-
row nights bankers dinner will be John
w. Pole, controller of the currency, and
Roy A. Young, governor of the Federal
Reserve Board