Evening star., 1926-12-11
d. C.. BANKERS HONOR WB. HIBBS
ON HIS cd BIRTHDAY TODAY
Dean of Washington Brokers
Is Presented Flowers by
Stock Exchange.
Rise From Newsboy to Head
of Big Firm Is Due to
Business Genius.
BY EDWARD G. STONE.

The news spread so fast through
the financial district that the dean
of Washington brokers had to give
up all his time to accepting con-
gratulations. He went to the Wash
ington Stock Exchange to attend Il
supposedly quiet Saturday session.
To his surprise he was presented a
huge basket of flowers, Charles j.
Bell acting as spokesman and eX-
tending the best wishes of every
member Of the exchange. SO i'm.
pressed was the veteran banker that
he found it far from easy briefly TO
express his gratitude. Mr.. Hibbs
was president OF the exchange from
1899 to 1901, again in 1905 and l9o6
and later in 1910, and at present Is
on the board Of governors.
w. B. Hibbs arrived on this planet
at Gordonsville, Va, on December
II. 1854, has spent practically all his
life in Washington, and has hand
some country estate at Leesburg,
where he often goes for week ends
The veteran banker was not always
as prosperous as he is now. 1t belns
a fact that as a boy he sold papers
on the spot where his own building
now stands on Fifteenth street. HE
began his financial career by han
ding quotations in a brokers' ofnce
Soon his genius and ambition to
get to the top of the heap" asserted
themselves, enabling him not so very
many years later to found the In
vestment and brokerage firm OF
which he is still the head. For, many
years he has held a seat on the New
York Exchange.
Aside from banking, Mr.. Hibbs has
often shown almost uncanny ability as
a political prognosticator. Cabinet
officers, Senators, editors, diplomats
railroad presidents and many others
have held long consultations in his
palatial apartment on the top floor
Of the Hibbs Building and discussed
far-reaching political as well financial
problems His firms market letter
mirroring Washington news have
often surprised New York financiers
when forecasts contrary to Wall
Street opinion have proved accurate.
Close friends assert that in quiet
way Mr.. Hibbs has helped scores OF
young men get a real start in life.
Incidentally, he has always stood
solidly back Of such organizations as
the Chamber Of Commerce and the
Board of Trade, and it would be very
difficult for him to attend the meet
ings Of all the social organizations to
which he belongs. He is a Mason
member of the Metropolitan, Racquet
Alibi, Chevy Chase, Congressional and
several other prominent clubs.
New Southern Stock Popular.
AS already noted, the Southern Rail.
way has authorized an issue of $780,
100000 new common stock at par, of
which $10,000,000 is now being offered
to preferred and common stockholders
on the basis of new share for each Is
now held. Many shareholders in
Washington have been taking advan.
tage of this offer during the past
few days. The road officials report
that the additional funds are needed
because of the railroads steady ex.
pansion. During the first nine months
OF this year the Southern spent $36,.
10000 for maintenance and improve.
ments, or 31.5 per cent Of it's total
operating revenues, this huge outlay
calling special attention to the amaz.