Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-07
TRADING IS ACTIVE
ON D. c. EXCHANGE
.Lanston, Pepco Preferred
and MergenthaIer Leaders
in 'Today's Session.
BY EDWARD C. STONE

started OF the week today with an eX-
cellent volume of trading.
Potomac Electric Power per cent
preferred figured in seven transactions
totaling Sc shares, at lib, while the
corporations SIC per cent stock
changed hands at 1884.
Lanston Monotype stock, which has
been becoming more and more active
in recent sessions, recorded 5O-snare
turnover today, all sales being made at
1862. The annual meeting is not lar
off and the anticipation Of another fine
earnings report may be the cause OF
this stock appearing on the board so
much more frequently.
Mergenthaler Linotype also held its
place in the sun, 40 shares changing
hands at 1875. Capital Traction opened
the week at 80. 1t closed the session
at 1884, on a very small turnover.
Federal-American National Bank
stock sold at 1872 and an odd lot of
Continental Trust Co. changed hands
at 127. Federal-American Co. common
moved at 80, and 20 shares OF Mer-
chants Transfer & Storage preferred
sold at 100. The Carpet Corporation
witnessed 50-share sale at 2612.
Bond trading was confined to Capital
Traction, Potomac Electric Power and
Washington Gas Light issues at recent
levels.
New Brokerage House Opens.
Stein Brothers g. Boyce opened for
business today in their new street floor
quarters in the recently completed an
mex to the Woodward Building, Fiji
teenth and H streets. The new Offices
are on the H street side, the location
being that occupied for many years by
John L. Edwards & Co. The old build
ing was torn down to make way for
the fine new addition erected in its
place.
Stein Brothers & Boyce have mod
ern Office in every way, plenty of room.
fine light for the board, special room
for women customers, and ample desk
space for the officers handling the in
Vestment part of the business. While
the Offices were opened to the public
today, there are further finishing
touches to be made in the next few
days.
The firm greeted many customers to-
day in the new quarters and received
hearty CONGRATULATIONS This veteran
brokerage house has its main office in
Baltimore where it opened for busi-
ness in 1853.
Mellon Plans Spring Financing.
Secretary of the Treasury Mellon has
asked for bids on Treasury bills to the
amount of S5OOOO000 or Whereabouts, to
be opened April IL, for the regular
Spring financing of the Government.
This is the third issue of new
form of offering, recently authorized
by Congress, and will take the place
of the financing formerly accomplished
through Treasury certificates of in
debtedneSs. The bills are sold to the
highest bidder and redeemed at par
instead of being sold at par and re-
deemed at par plus interest
Bankers Back From Ashville.
The local bankers who went to Ash
vile, N. G., over the week END to make
final arrangements for the coming an
nual convention of the District
Bankers Association, got back this
morning. They worked out many de-
tails in connection with the conclave
and report everything in readiness for
a splendid convention. Those in the
party were George o. VaSs, general
chairman; w. w. Spaid entertainment
chairman; Robert S. Stunz, chairman
of the sports committee, and Luther E.
Schreiner, chairman of the hotel
committee.
The committee members are brim full
of enthusiasm. The hotel offers every
comfort, the surroundings are charm
ing, while the golf facilities could hardly
be improved upon. The Grove Park
Inn management has arranged for the
bankers to have the use of the Biltmore
Forest Country Club and the Ashville
Country Club, both fine 18-hole
courses.
Suter Joins Brokerage Staff.
George R. Suter. for several years
manager of the Connecticut avenue
branch of the Franklin National Bank,
has Joined the brokerage staff of West
heimer & Co., in the Woodward Build
ing. Mr.. Suter started his banking
career in the old Northwest Savings
Bank which was at that time controlled
by Francis M. Savage, but taken over
several years ago by the Riggs National
He is a native of this city.
C. g. o. Earnings Show Increase.
The Chesapeake & Ohio Railway Co.
has issued its pamphlet report for year
ended December 81, 1929. General
balance sheet as of December 81, last
shows total assets of 5000, 125 ,301, COM
pared with S569,453, 655 at end of 1929
and profit and loss surplus S115,1l0,742
were s30,419,5S6 and current liabilities
Sl8,033,489 as compared with $3l ,045,-
OIL and S15,580.143, respectively, on
December 81, 1928.
Income account for year ended
December 81, 1929, shows net income
of S32, 069,272 after taxes, charges and
sinking fund appropriations, the same
This is equivalent after 612 per cent
preferred dividends, to $21.60 share
on 1.482855 shares of common stock
and compares with net income OF
$28,798,102 or $24.33 share on 1,180,-
GAO shares of common stock in previous
year.
Financial District Brevities.
President William D. Hoover Of the
National Savings & Trust Co. was a
weekend visitor at Old Point Com
fort, Va. stopping at the Chamberlin-
Vanderbilt
Vice President E. ]. McQuade of the
Liberty National Bank was a weekend
visitor to Old Point Comfort and Rich
mond.
President George L. Starkey Of the
National Bank of Washington took a
weekend trip down the Potomac to
Old Point Comfort.
Charles B. Lyddane, vice president
Of the Federal-American National Bank,
is on a short vacation at Pinehurst
N. c.
S. S. Kresge Co. March sales SILL
25e,914, against $12,567,017 in March,
1929; for three months, $3o,555,545,
against $31 ,360,268.
I, C. G. examiners recommend rejec-
ton of L. F. Loree plan to build 344-
mile line across Pennsylvania to form
New York-Chicago trunk line.
Exports of automotive products dur
ing February were valued at $32, 784,-
139, increase of $1.617,465, or So per
cent. over January, Department OF
Commerce reports.
March Building Contracts.
Building contracts in March esti.
mated at As per cent increase over
February and per cent decline under