Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-07
CAPITAL TRACTION
lNLARGE TURNOVER
Stock Shows Slight Loss on
Day-Bond Trading Is
Quiet.
BY EDWARD C. STONE.

Il BY EDWARD c. STONE.
The heaviest trading in Capital Trac-
ton Stock in many months, possibly In
years, took place on Washington Stock
Exchange today.
There was a turnover of 452 shares
in 20 different transactions. the market
for the stock opening at 7614 and clos
ing at rs.
The first sale was 10 shares at 1914
the next was a 50-share block at 76
nat, while the next four sales were re-
corded at 1874. The largest sale was a
20o-share block which changed hands
at rs. The other sales were in 20, 10
s and share lots.
Potomac Electric Power per cent
preferred came out at 1927 and the
512 per cent issue at 1881. Columbia
and Federal American Co. common
nnoved'at 311a.
Bonds were quiet, the most important
sales being 81 900 City g. Suburban SIS
ut SO, and $1,000 Capital Traction IS
OF 9412.
Banker Addresses Underwriters.
irving Zirpel. assistant trust officer
and secretary of the Union Trust Co..
Headquarters before local underwriters
on Trust Organization and Admins
tration." This was the last of series
of seven addresses planned by the
fiduciaries section of the District Bank
ers' Association, all Of which has been
well attended and aroused marked in
terest.
The other speakers were George F.
williams, trust officer, Lincoln National;
Kenneth F. Brooks, assistant trust OH
Ger, Riggs National; Erskine Gordon,
trust officer, Federal-American; Leonard
Marbury, assistant trust officer, Wash
ington Loan 81 Trust Co.; David Bonet,
assistant trust officer, National Savings
& Trust Co., and T. Stanley Holland,
assistant trust officer, American Security
8 Trust Co.
20 A. i. b. Essays Submitted.
It was reported today that 20 essays
have been submitted by members OF
Washington Chapter, American Insti-
tute Of Banking, in connection with the
contest conducted by the District Bank
ers' Association. Those winning first,
second and third honors will be re-
warded with trips to the bankers con-
vention at Asheville, N. c., June 5 to 8.
There has been decided increase
in interest In this contest. Last year
the writer's were from the same bank,
and three of the winners from that
GENE institution The interest was so
low that the senior bankers considered
disseminating the contest.
This year, however, the interest Is
much different and the 90 contestants
have put a great deal of hard work into
their papers, all hoping to land at the
top. The judges are George Q. Watson,
TNo Addison
Moran.
In connection with the coming con-
vention, President w. j. Waller has an
nounced the fourth leading speaker. He
Is @. w. Dyer, a professor in Vanderbilt
University, Nashville, Tenn, a man
greatly sought as public speaker all
over the country. He is an authority
senting very heavy subject in most
popular way.
The other speakers are Oscar Wells,
former president of the American Bank
ers, Association; Controller Of the Cur
rency John w. Pole, and Robert v.
Fleming.
Peoples Drug Sales Improve.
Sales of Peoples Drug Stores, Inc,
for April totaled $1,414,653, against ST.
171,277 in April, 1929, an increase Of
$243,376, or 2o.2 per cent. Sales for
the first four months of the present
year amounted E s5:442,lss, in COM
spending perior last year, gain Of
$853, 310, or 1876 per cent. The report
was the first made since the preferred
stock of the company was listed on the
New York Stock Exchange and the
common transferred from the Curb to
the big board
The schulte-United 5-Cents-to-sl
Tnn >~;I -
$2,444,29 compared with $990,O50 in
April, 1929, an increase of 1869 per
cent. The company operated 81 stores
in April, compared with SIS in April,
1929. For the four months ended April
80 sales were $7,327,000, as compared
with S3,323,068 in the corresponding
period of 1929, an increase of 1905 per
cent.
Great Atlantic & Pacific April sales
es6.137,So6, increase 11.4o per cent over
year ago and new high April record.
Lonsdale Talks About Trade.
Comparison of present figures with
those for 1928 and earlier years reveals
that the general level OF business is
satisfactory, according to statement
issued yesterday by John G. Lonsdale,
president of the American Bankers AS
ISOLATION. Mr.. Lonsdale said that COM
partson Of current conditions with those
Tor the frSt quarter OF 1929 was unfair
since a new high level for the general
run of business and record figures for
many Of the more important industries
had been experienced last year.
1.-THE readjustment In 1880 is move
ing forward in an orderly manner, with
out credit stringency," Mr.. Lonsdale
said. Recovery is in progress, slow in
some lines and in some sections, faster
in others. Progressive adjustment Of
production to current consumption is
well under way.
"Our banking position is favorable
10 support fully all conservative de-
rnands for credit. Rates have eased con-
siderably and a diffusion Of credit into
the smaller centers is beginning to be
noticeable. Individual bank transac-
tons, outside of the larger centers, in
dictate weekly average only slightly
less than year ago, but larger than
n the first quarter of 1929"
Other Financial Notes.
A group headed by the Lehman Cor
poration and including j. g. w. Selig-
man g. Co. and Wertheim & Co. have
purchased a substantial block OF the
common stock of the j. c. Penney Co.
F. Edison White, president of Armour
IL Co., Chicago, will speak on Supply
ing the World With Meat Foods" Sat-
Nrday evening May 10, in the romance
of American industry series over the
columbia Broadcasting System.