The Washington herald., 1914-03-17

ter exceptionally well as secretary one
term, treasurer one term. and member
OF the oard Of six terms. and has been
chairman OF our debate committee
every year we have had debates. He
has taken part in seven intercity de-
bates and innumerable local debates,
and our trophy cabinet bears worthy
testimony OF his ability along these
lines We feel that this chapter has
never had a more worthy candidate
in the field for a national ONCE than
the one she presents this year, and
we believes that our sister chapters
will give us their support. Last, but
not least, he is an institute graduate,
and is giving bountifully of his time
this year toward increasing the num-
Der Of graduates.
Owings Vice President.
At a meeting yesterday OF the board Of
the Bank OF Commerce and Savings Ir-
wing owings was elected third vice presi-
dent OF the institution.
Mr.. Owings has served as an officer In
the Home Savings Bank and through the
various regimes of the old Merchants and
Mechanics Bank. He was assistant
cashier of the latter bank up to the time
il absorbed the Travellers National Bank.
when he was made manager OF the Sew
enth street branch, which office he filled
until the branch was purchased by the
Security Savings and Commercial.
Vice President Owings will have active
charge of loans Of the bank.
Question of Margins.
Brokers say that the work OF their mar
gin clerks is slight when the market
breaks in comparison with their labor
five years ago. Customers keep their
accounts supported by a more generous
m than thaxy mead tn
plantations for this advance to a more
stable trading basis could be made, one
CT them being that the reform program
OF the New York Stock Exchange de-
mands the presence OF sufficient margin
at all times under penalty OF discipline
for the house which grows lax. Another
explanation lays in the evident improve
ment of knowledge among spectators
about stocks and market conditions. The
class of speculative investors has grown
substantially. They buy dividend-pay-
ing stocks with the hope OF a rise, but
are sufficiently cautious to consider their
purchases as investments,
Southern Prosperity Mirror.
The earnings of Southern railroads at
tract much attention, not only in the
South, but in the country at large. Gross
earnings have been maintained excellently
in spite of expenses.
For the six months with December the
total operating revenues of the Southern
group Of railroads showed an increase OF
i.9 per cent over the previous year.
Decreases occurred in both the Western
and Eastern roads during the period. The
net operating revenues of the Southern
roads showed an increase OF 2.5 per cent
for the half year. whereas those of the
Eastern group decreased IL per cent, and
those of the Western district "a per cent
At the monthly meeting Of the board
of directors of the National Savings and
Trust Company no action was taken on
the bids for the new building, owing to
the absence of President Hoover.
The Census Bureaus report on the con-
sumption of cotton in February will be is
sued at 10 O'Clock this morning.
The American Security and Trust to-
day declares the regular quarterly divi-
dend.
According to the recent annual report
of the Bank of France. received by a To-
cal bank yesterday. one-third of all the
shareholders of that institution hold only
one share apiece. and &c per cent OF the
total hold no more than two apiece.