Evening star., 1925-10-01
CRANE, E,PARRIS & CO.
ADD NEW MEMBERS
Y. E. Booker, Jr., and OgIe
Harper Today Admitted
to Partnership.
BY CHAS. p. SHAEFFER.

BY CHAS. r. SHAEFFER.
Crane. Paris & Co. announced to-
day that Yelverton E. Booker, jr..
and B. Ogle Harper, both of whom
have been with the organization for
a number of years. have been ad-
mitted to partnership in the firm.
it was announced
that w. J. Boothe has retired from
the partnership. but will remain with
the firm in an executive capacity.
Mr.. Booker has a financial ac-
quaintance second to none in the
city. For many years he was finan-
clal editor Of the Washington Post re-
signing this position in September,
1921, to join the selling organization
of Crane, Paris & Co.
Mr.. Harper also has had a wide
financial experience. He was for nine
years an employe of the Washington
Loan and Trust Co., during which
time he worked his way up through
the ranks to the position of note
teller. He has been affiliated with
his present firm for seven years in
the capacity of office manager and
cashier.
Crane, Paris G. Co. is the Oldest
and largest exclusively investment
banking house in Washington, having
been established in 1888. 1t is best
remembered as the agent of the North
Co. in acquiring a substan-
tial interest in stock of the two local
railway companies.
The new membership roster of
Crane, Paris & Co. now consists of
Eugene E. Thompson, George Hewitt
Myers, Yelverton E. Booker, jr., and
B. Ogle Harper.
Southern Diaries Bought.
The large block of Southern Diaries
A and B stock sold in the recent de-
cline on the New York Curb Exchange
has been bought by strong but un-
named group, according, to officials
who see nothing in the situation of the
company to warrant such drastic de
clines as have been witnessed in the
last two days. Rather, the losses are
charged by these officials entirely to
the technical position of the market in
these shares
Net profits of the company are said
to be running at the rate of $40
share on the A issue without any rev
enue from new plants nearing COM
pletion in West Palm Beach and
Miami, Fla. Current asset ratio of
the company is given at better than
5 to l.
Gross sales in the nine months
period ending yesterday were 5000
600, with a net, after taxes and depre-
citation, Of $4,000, against sales of S4,-
100000 and net Of S390,000 in the
same period Of last year.
Dividend Is Declared.
A dividend of per cent was de
clared on the capital stock of the Ma
tional Metropolitan Bank at the reg
ular meeting of the board yesterday.
The dividend will be paid on October
Is to all stockholders of record at the
01 of hItC n.r A Ia hn
for the transfer of stock to be closed
October to October IA, both dates
inclusive.
New President Elected
Louis E. Kilmarx has been elected
president of the North american Sc
curities Co., distributors of the com
mon stock of the North American Co.
to succeed Loring r. Hoover, who re-
Gently became president of the In
veStorS' Bond and Share Co. Mr.. Kill
marx has been identified with public
utility securities for years, and at pres
ent is head of Central States Electric
Corporation and Federal Utilities. Inc.
ROLAND T. Veitch has been elected
vice president of the security distribu-
tors.
Local Exchange Strong.
Led by advances in stock of the
thaler Linotype and Federal-American :
National Bank. the Washington Stock
Exchange presented a strong tone in
today'S trading
The fuel issues activity was restrict
ed to a single sale of 10 shares at 642s,
the highest figure to be reached in
months. while Mergenthaler netted a
full point gain to 1882 on sales total
ing AZ shares. Ten shares of Federal
AyoOa -ifoy, No Do ,,ly cold
an appreciation of 80 points over the
last sale of this issue.
The remainder of the market follow
ed a relatively even tenor. American
Security and Trust Co. suffered a
negligible decline Of n few points in
odd-lot trading. easing off to 1885,.
Traction stock was unchanged at 99ln
but Railway common gained a point
to 1863. Other issues were unchanged.
Western Electric Melon"
Directors of the Western Electric
Co. have voted disbursement of a com
mon stock dividend of so per cent
The present capital is $50 500 600, rep
resented by 100000 outstanding com
mon shares of no par value. The
board voted to increase this to $50. 900
shares, issuing the additional 250.0O0
shares to stockholders of record Sep
tember 2S as stock dividend. More
than SO per cent of the shares are
owned by the American Telephone and
Telegraph Co.
THE sale of the company's holdings
in the International Western Electric
Co, Inc, which has been authorized
by the directors and consented to by
the stockholders. has been consum-
mated" H. A. Halligan, vice president,
announced, land as a result the com.
pany's undivided profits are substan-
TALLY increased. 1t is deemed for the
best interests of the company to re
tain such undivided profits for the re
quirements of the business.
Interest i'm Money Rates.
Increased confusion regarding a
change in the Federal Reserve Bank
of New York discount rate has been
created by the unexpected reduction
in the Bank of England's rate TO 1
per cent. Many financiers hold the
recent stiffening of money rates will
be recognized by the reserve bank
through its rediscount policy, but il
is recalled the last lowering of the
British rate in August started a flow
of money to the United States and
quickly checked talk of an increase in
the New York rate at that time.
MORGAN JOINS BOARD.