Evening star., 1928-06-13

/ Hottie d by the .,h.r, c.u.x
Treasury was "'"e' ""'''''
| S5,032.500, on the 4 per cent issue
| On the 37s per cent series the tota
subscriptions were $5.818500, and the
amount allotted $4.947 500.
Crane, Paris & Co. Buys Building.
1t was announced today that Crane
Paris & Co., investment bankers and
brokers, have purchased the building
next to their present location, the new
property being numbered 821 Fifteenth
street northwest. This is one of the
most important real estate transfers
in the financial district for some time
in which an investment banking house
has been involved. The purchase was
| made from the Mcpherson Square Cor
poration.
Although the firm owns the building
| in which the business is now carried on
1t Is intended TO move into the new
building in about month. The new
building was completed about a year
ago, four stories high and unusually
deep. Crane. Paris 6s Co. will be the
first firm to occupy 1t.
Eugene E. Thompson is head Of the
firm. While Albion K Paris, one of
the founders, retains Office space at the
present location, yet he is not active
in the management.
Treasurer Has Brilliant Record.
Albert S. Gatley's reelection as treas
urer Of the District of Columbia Bank
ers' Association brings to mind the long
and able service he has rendered the
local organization He was first chosen
TO the office in 1911, so that this was
his seventeenth reelection.
AS the association has steadily grown
in recent years. the funds required for
its operation have increased at the
same time, or a greater rate Of speed.
Almost by magic Bert" Galley has
met all bills, and at the end of each
year gone to the convention to report
So remarkable has been his record that
his friends think such a financial genius
really ought to be Secretary of the
Treasury.
Mr.. Galley Is vice president of the
Lincoln National Bank and one Of the
leading financiers In Washington.
Bankers Open Years Luncheons.
Robert " Fleming. newly elected pres.
ident Of the District Bankers Associa
ton, presided at the first luncheon oil
the new administration az the WiiIarc
this noon. The success Of the conven.
ton provided the leading topic Of con-
versati0n.
1t Is understood that Mr.. Fleminc
plans TO appoint his standing commit
| tees for the year at an early date. He
mas already had a meeting Of the officers
at which he briefly outlined the pro.
gram proposed for the coming year. Tfs
retiring administration passed along sey
eral matters which are considered ol
more than ordinary importance To thu
local banking fraternity.
Directors Vote Dividend.
The directors Of the Federal Storage
Co, have declared the regular ouarterl,
dividend Of 81 per share on the cor.
poration's preferred stock. The diyi.
dend is payable on July l6 10 stock.
holders Of record at the close Of b,1si.
| ness JUNE 30. according to announce.
nnent BY z. X. Morris the president.
Auditors Arrange June Meeting.
The June meeting Of the District Of
| Columbia Auditors Conference will taks
place tomorrow evening at the Univer.
sity Club, the dinner starting al $50
The subject this month will be Loans
and Discounts" and the speakers vii
be Thomas d. Carson. from the Office
of the controller Of the currency, who
Is a national bank examiner in tIli,
district. Mr.. Stokes. another natfona
bank examiner, from the same ofiice
mas also been invited 10 be present.
New Curb Ticker Service Here.
The new curb ticker service, which
has been in course Of preparation fol
/ some time, WAS started In Gegera
/ broker Offices In this city today. This
/ innovation now gives Washington people
| an instantaneous and continuous recor1
1 OF transactions on the New York Curt
/ Market similar To that furnished on
the New York Stock Exchange for many
years.
Reserve Boards Latest Report.
| The Federal Reserve Boards condi.
/ tion statement of 64I reporting mem.
| Der banks in leading cities as OF Juna
8 shows decreases for tl1e week Of 94a,
900 900 In loans and discounts, Of $50,
| 900 900 In Investments, OF 137 ,0OD, ,0Os
In Government deposits and eI3,D00,0 ,00'
/ IN time depogitE and increases Of SS2.
/ 900 900 In net demand deposits and o
/ sss 600 600 In borrowings from Fedora
Reserve banks.
L Local Market Quiet.
Prices we're strong today on tn
Washington stock Exchange, but tn
break On the New YORK Exchange ap
peared 10 have a tendency ~ slow VI
trading. Chestnut Farms Dairy pre-
ferfed and the Potomac Power stock
were actiye and firm. Fifty shares o
American Security h Trust Ca. StOcl
changed hands at 453. Bonds we're ais
steady In light transactions.
Heard In financial District.
Thomas r. farrell, president of To
Washington Savings Bank, Is back
pis desk after attending the baukeTf
convention at M0utank Beach, Lon
Island. lie was one ~ the III bea
hank presidents at The eGnciaye, Jotl
~, Leonard, vice president and easfie
~ the SANS hank, returned yesterday
r. y. H. Giddons, secretary of IN
American Security ~ Trust Co, return
70 from the Long Island convention ~
motor, arriving home yesterday.
WASHINGTON broker ofiices Wef
crowded " tk4e doors today ~ the Re'
York Dgarket opened Tne margin SIT
uatioH 3s causing q lot of worry.
Nathan Weill, who fa1 persons
charge 0f the bankers special" ~ IN
convention, IL the Pennsylvania Rail
roads District passenger agent ana ils
been here for many years he kne
many NJ the bankers In the party pei
GgHaily,
A. lhe first meeting ~ the board {
4 TRUSTEES af fha fast WgRt4tnztDn Esg