Evening star., 1924-02-05
NEW BROKER OFFICE
IS OPENED HERE
W. E. Lewis Is Representing,
New York Firm-Bankers
Pay Respect to Wilson.

Fenner & Beane, New York stoca
| brokers with fifteen branches ano
forty-f1ve correspondents, today open
| the New Willard Hotel in charge Of
| William E. Lewis.
The firm are members Of tho New
York Stock Exchange. New York Cot
ton Exchange. New Orleans Cotton
Exchange. Chicago Board of Trade.
New York Produce Exchange, New
York Coffee and Sugar Exchange and
other markets
Mr.. Lewis was formerly afiliated
with Samuel Ungerleider & Co. when
that firm maintained offices in the
Willard, and since has been connectec
with Halle & Steiglitz, successors to
Ungerleider in the Willard.
Banks to Remain Open.
Cancellation of the weekly luncb
of members Of the District Bankers
Association will constitute the onl:
breach in local financial routine tomor-
row, when ex-President Woodrow viii
son Will be buried.
Harry V. Haynes. president Of the
District Bankers Associa ton, today is
sued the following bulletin: "As
mark of respect to a former illustrious
President of the United States. the
weekly luncheon of District bankers
which would occur on Wednesday has
been Cancelled.
NO further observance can be given
by the bankers, because under the laws
they are required TO remain open dur
ing the regular business hours"
Fewer Bonds Issued.
The output of municipal and state
bonds in January was sufficiently re
duced. as compared with earlier
months. to suggest that scarcity or
bonds might soon became market
factor. Bond dealers call attention to
the reduced supply in explanation OF
the rise in prices which has occurred
in recent weeks.
A comparison Of the s72534.o25 bonds
sold in January with the three pre-
seeding months lends weight to this
argument. In December total sales
amounted to S132. 167.SeS: in Novem-
Der, ss4,61s,15S, and in October. $1o1.-
January is normally an active
month in the bond market. due to
the first of the year reinvestment de-
mand. This year, however, state and
municipal bond emissions were small
er than in the corresponding month
in 1920. 1921, 1922 and 1928, indicating
the tendency of municipal borrowing
toward reduced volume.
Market Stock Hits so.
Stock OF the Washington Market
Company was bid UP to 90. with one
sale of ten shares, on the Washington
Stock Exchange this morning. The
rise is attributable to todays favor
able decision in the Court of Appeals.
carried elsewhere in this issue of The
Star.
Trading. generally, was at highe~
prices. Lanston scored a further rise
&yF@ ho
and Washington Gas Light was ur
changed at 48S. district National
Bank held at $50.
Bonds were unchanged and for TIL.
most part inactive.
Surplus Cars Reduced.
Increased demand for transporta
tion facilities continued to cause 4
reduction in the number of surplus
freight cars. according to reports
filed today by the carriers with the
car service division of the America
Railway Association. Surplus freight
cars in good repair on January 22s
totaled 236,114. a decrease OF 56,I4'
compared with the number on Janu-
ary Il, at which time there were
Surplus box cars in good repair
numbered 106,543, a reduction of 26.-
021 compared with January IA, while
there also was a reduction, durins
the same period of 29,065 in the mum
ber of surplus coal cars in good re-
pair which brought the total number
for that class of equipment to 100,-
ISL.
Surplus stock cars on January g
totaled 1879. an increase OF elc
within approximately a week, while
surplus refrigerator cars numbered
1865 or a decrease OF 1912 within
the same period.
Reports showed on January % a
total shortage of 2.4s4 freight cars.
an increase of sos compared with
the number on January "a. Sod