Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-24
PRICES ARE STEADY
ON D. C. EXCHANGE
Smah-Lot Trading Feature Of
!Session--NeW r. n. Smith
Protective Committee.
BE EDWARD c. STONE.

variety In small lot trading. Capital
Traction opened the market at 70 and
closed, At TIN on O. turnover Of Il
shares. Five 10-share lots of Columbia
Sand &c Gravel preferred came out al
95, Mergenthaler Linotype opened at
lot and closed at 107i4, with 80 shares
Changing hands.
Forty-four shares Of Carpet Corpora
ton moved at 20, and so more sold at
26h. Real Estate Mortgage g. Guaran-
ty preferred came out at 2. Potomac
Electric Power per cent preferred sold
at 113, and the 5R per cent issue at
1857. Twelve shares Of Washington
Railway g. Electric preferred moved at
seA.
Electric As sold at S7A, and $500
Gas IS, series B, figured in $4,000
transaction at 1851, and $500 more
moved at 1854. Washington Gas SIS
closed the bond trading at 10l.
Washington Gas Light stock, WASH
ington Loan g. Trust and National Saw
ings & Trust are being quoted ex-divi-
dend. American Fire Insurance Is also
to pay q dividend in few days.
New #. III. Smith Protective Group.
Owners of the preferred stock Of the
r. II. Smith Co. have been notified OF
the formation in New York City OF q
new protective committee, composed OF
Harry M. Blair, president of Associated
Bond & Share Corporation, as chair
man; George r. Baker, vice president
Chatham henix National Bank &
dent Of Westchester First National
Corporation; g. s. Newhall, vice
president of the Pennsylvania Co. for
Insurance on Lives and Granting
Annuities of Philadelphia, and J..
Hambleton Ober, vice president Of
Baltimore Trust Co. Of Baltimore. j. w.
Edwards is secretary Of the new COM
mittee and Beekman, Bogue d Clark
are counsel.
The Interstate Trust Co. has resigned
as depository under the protective
agreement dated February 10 and the
Chatham-Phenix National Bank q
Trust Co. has been designated as the
new depository.
Montgomery Again Heads Acacia.
William Montgomery, who has been
at the head Of the Acacia Mutual Life
Association for more than 80 years, was
reelected president at the annual meet
ing held here yesterday. The other
ningham, vice president; j. p. Yort,
secretary and actuary; DR.. J. B. Mich
OILS, medical director; J. Claude Keeper,
treasurer, and Charles e. Baldwin, as
sistant treasurer.
During Mr.. Montgomery's af1liation
with Acacia the organization has grown
from a small local insurance associa-
ton with two small rooms for head
quarters to its present national stature,
occupying fine home ONCE building
in the Capital, having branches in lead
ing cities throughout the Nation, and
with approximately $350,000,000 Of in
surance In force.
The directors were informed that
April business Of the association Is set
ting new records and that 1t already
Is clearly apparent that a new high
mark will be established for this period
Investment Trust Resources.
The net resources Of q number Of
representative investment trusts show
gains varying from Is per cent to more
than ~ per cent at the end Of the
first quarter, as compared with Decem-
Der 81, 1929, according to survey
made public by Analyst Associates, Inc.
Total earnings Of the individual COM
panies and the group, computed on the
basis OF percentage earned upon aver
age capital employed, show a rather
close paraellelism with the stock market
averages In general use. The company
gains appear to be less during period Of
rapidly rising stock prices, whereas the
1929 results definitely favor the invest
ment trusts as opposed to the stocks
comprising the averages. This appears
to be In line with the usual policy Of
investment trusts in holding part OF
their resources In cash.
The purpose of this study Is to point
out the important factors one should
consider In purchasing investment trust
stocks such as managerial accomplish
ment, relation of nquidating value to
market price, common stock Leverage
and other capitalization characteristics
Better Business Indicated.
The report that new life insurance
written in Washington in March was Is
per cent ahead Of March 1929 Is held
by local bankers as an indication that
business conditions here are gradually
improving. Life insurance sales also
are declared to be so closely allied with
business throughout the country that
they may be safely used as q business
indicator. For the first quarter life In
surance sales in Washington are also
better than last year. The volume OF
life insurance written in 1929 broke all
records, yet the figures so far in 1880
exceed those of 1929 by substantial
margin. The figures are reported by 7e
companies which claim to do 80 per
cent Of the country's underwriting.
Heard In Financial District.
Beginning next Monday, April %. the
New York Stock Exchange will run on
daylight-saving time, opening at 9 am,
Washington time, and closing at 2 pm.
It will close at IL o'clock, Washington
time, on Saturdays. All local broker
age houses will conform to these hours.
The Electric Bond & Share Co. &C
Quired much OF its interest in SubSidi-
aries through stock bonuses voted the
holding company, A. r. Colbert, utility
expert, told the Federal Trade Com
mission.
Mr.. Colbert said the company OBJ
tanned in this manner $50 per cent OF
its common stock in American Power
81 Light, ITO per cent of its Interest
in Electric Power &. Light, 98.7 per
cent in Lehigh Power Securities Cor
poration and 1858 per cent In National
Power & Light.
It has been suggested In the local
financial district that the adoption OF
daylight saving time by the Govern
ment departments would help solve the
move for earlier closing of local bank.
in the Summer months. No doubt al
the business interests In the city, in.
GLIDING the banks, would conform II
the daylight schedule, which would re.
suit In all business closing an houl
earlier every day.
Directors of the Pennsylvania Rail
road Co. confirmed the appointment o.
James H. Cheston as assistant genera
solicitor, to become, effective May
Mr.. Cheston, who is now assistant gen
eral solicitor of the Norfolk & Western
Railway, succeeds James E. Gowen, wht
resigned to become vice president o
the Philadelphia Saving Fund Society
POTATO MARKET.
CHICAGO, April "a R.-(Unite'