Evening star., 1927-12-19
NOTED ECONOMISTS.
WILL MEET HERE.
ctable Money Association
Meeting to Draw Many
Financial Experts.
By EDWARD c. Stone.

Many noted economists are coming
30 WASHINGTON to attend the annual
meeting of the Stable Money Assocla-
ion. which opens at Hotel Washing
ton on December %.
In seeking to promote stahiuzauoh
# the purchasing power OF money
he convention viii study the serious
wills attending wide fluctuations IN
he general price levels; the prevent
ibility OF such fluctuations, and the
various methods proposed for stapill'
~zation."
John r. Rovensky, president OF the
association, VIII preside. Dr. John
Bauer, director Of the American Pub-
ic Utilities Bureau, will discuss Pub |
ic Utility Rates and Valuations and |
he Unstable Dollar" while Prof. tfua- /
.on r. Hastings of Yale Will talk on /
What Are the Fundamental Princi- |
ples Underlying Stablization?" Others |
Who will be present include: DIR. +. w. |
Eemmerer of Princeton. who has an |
International reputation in finance; |
Prof. Josef Schumpeter, former minis /
ter of finance in Austria: DR.. wesley /
- Mitchell. DR. Arthur B. Adams, |
Nagnus w. Alexander, John p. Frey, |
Or. John r. Commons. Wilford L. /
King. Allen A Young and Carl Sny'
der of the New York Federal Reserve
Board
Former Senator Robert L. owen |
and Irving Fisher Of Vale are also on |
he program. Secretary Hoover has
tentatively accepted an invitation to |
speak. In the list are also Prof. Da-
vid Friday. Washington economist;
George Soule. DR. Royal Meeker and I
Dr. Frederick c. Mills of the National
Bureau Of Economic Research. Most
If the four-7ay sessions will be open
10 the public.
Heavier Buying Seen in 1923.
Purchases and output will be great
or in 1928, even though profits per
unit of sale are smaller, according to
a survey of predictions by business
leaders made by Ray NJ. Hudson, as
sistant director of the Bureau or
standards. He finds that while there
are forecasts that sharp competition
will continue through 1928. with the
margin of profit narrow, other lead
ers nite the steady increase in indus
trial efficiency. making possible con
+inuaDce of high wages. as the chief
assurance of sustained high purchas-
ing power of the mass of the people.
Banks Assuming Christmas Aspect.
Local banks are taking on the at
naosnhere of Christmas cheer brought
about annually by special decorations.
The Liberty National blossomed out
this morning with a handsome tree
brilliantly decorated with colored
lights and all the other Christmas
tree decorations. Beneath the tree is
a very clever rural scene, in which
cows and many other animals appear.
several goats being among them.
When Vice President E. J. McQuade
espied the goats he hunorously asked
IL they represented the depositors.
''No" replied President George o.
Watson, they are the officers.
Brokerage House Declares Bonus.
The directors of Hartman & Co.,
the New York Stock Exchange firm,
have just declared a Christmas bonus
of II per cent of the past years sal
aries for all their employees, accord
ing TO George b. Chapman, manager
of the Washington office. This action
is in accordance with a custom of sew
eral years standing.
Bright 1928 Outlook Forecast.
Twenty-nine members of the board
of directors of the United States Cham
ber of Commerce have issued opti-
mistic statements regarding the bust ,
ness outlook for next year, which will
appear in the next number of the Ma
tons business. In a general way the
statement backs up the recent asser-
tions of Secretary Mellon and Secre-
tary Hoover in their annual reports.
An upward trend in industry and
trade is considered highly probable.
Woodward & Lothrop at New Top.
Woodward & Lothrop preferred
nfr ~ oh ral. cor on "a
local Stock Exchange, came out to-
day at 10Sl5. new high since the
issue was listed. The last sale was
made at 107 Today's transaction in
volved but 10 shares.
Capital Traction opened the week at
709%, later dropping to 109b on 25-
share turnover. Potomac Electric
Power 6 per cent preferred was strong
at 112 and the 512 per cent equally
strong at 1918. Eighty shares of Gas
Light moved at "a. and so shares or |
National Mortgage & Investment pre-
ferred sold at SIS. !
Twenty-Five shares of District Ma
tional Bank sold at 250. One share OF |
Commercial National Co. preferred |
registered 106. District Title Insurance |
Co. sold at 53%, while an odd lot OF
Washington Title Insurance Co. came
out at II.
Bonds were strong. A $1,000 Wash
ington Gas 6. series b, sold at 10612; |
Chestnut Farms Dairy 6l2s recorded
Z. $4,000 turnover at 1859, while two
other $4,000 transactions took place
1T 1851. Railway & Electric gen.
eral 6s opened at 1041s and closed at
l04.
The ex-dividend list now includes
American Telegraph and Telephone,
Capital Traction, Lincoln National
Union Trust, Washington Mechanics |
and Mergenthaler Linotype.
Heard i'm Financial District.
The members of the Washington |
American Telephone & Telegraph /
the Yuletide season this evening with |
n dinner and Christmas tree at the |
Huguenot.
George o. Vass, vice president and !
cashier Of the Riggs National Bank /
has been elected a director in the |
Kiwanis Club.
Frank p Harmon, jr.. vice president |
Of the Merchants Bank & Trust CO., |
recently spent a few days al Asheville, |
~ G.
Collateral Bankers Report.
Bondholders in this city will be in |
terested to know that the total busi |
ness transacted during the month of |
November by Collateral Bankers. Inc. |
amounted to 81 ,201,771. as compared |
with S845l4S for the same month of /
1926. The cumulative total for the |
first eleven months of this year /
amounted to S1l 1l630.7S0. as against /
S6.480227 for the corresponding period |
of 1926. an increase Of 80 per cent
The volume of business transacted !
during the past eleven months has
amounted to one and one half times |
hat of the entire year of 1926, eclips- |
ing last years total by $3,S77,764.
NEW YORK MARKETS.