Evening star., 1928-04-13
TRADING IS LIGHT
ON EXCHANGE HERE
Merchants Transfer Leader
Sanitary Grocery Holds
Up Around 40.
BY EDWARD c. STONE.

Sanitary Grocery preferred sold up Il
ITO again today and Peoples DruI
Stores preferred came out at 1873. Mer
genthaler moved at l03 and Columbi;
Sand & Gravel preferred sold at 100
Trading in all issues was light. the larg
est turnover being in Merchants Trans
fer & Storage preferred at l07i2. Com
mercial National Co. preferred sold a
los and Railway & Electric preferred
at l02.
In the bond division Washington Gas
6S. series b. in small denominations
brought l06 and l0534, while $1,000
Gas s, series A. registered l05ai Wash
registered two transfers at l03ia. recent
levels being well maintained.
Stockholders Meet in Richmond.
The annual meeting of the Stock.
| holders Association Of the Federal Re-
serve Bank OF Richmond is being helt
| in the Virginia capital today, with q
! large number of Washington banker:
present The program included report:
by w, w, HoXton. chairman. and George
| J. Seay, governor of the Fifth District
/ Reserve Board, and the election oi
members of the advisory committee
whose terms expire this year. these in
! cluding Robert V. Fleming and H. II
Mckee of this city.
John Poole, retiring president, in
J brief remarks mentioned the success at
tanned by theFederal Reserve system
follows;
1t has given business greater conf
dence in the ability of banks to care for
credit needs.
1t has provided an elastic currency
and eliminated money panics.
1t has stabilized interest rates. elimi-
mating extreme seasonal fluctuations In
the price of money and credit.
1t has saved millions to business
through its par payment system for
check collections.
1t has made the gold reserve more
effective as basis for credit extension
in times of extraordinary demands.
1t has aided in the financing of for
eign and domestic trade by developing
discount market for acceptanceS.
1t has provided means for handling
huge financial operations of the Gov
ernment without interference with buSi-
ness.
Ii Has 6tuEQ AL Tic VA
the gold standard abroad.
1t has given us an experienced bank
ing organization which win assist us in
meeting the future exigencies of busi-
ness at home and abroad with courage
and confidence.
Greece Honors Charles f. Howe.
Charles E. Howe, treasurer of the
American Security &, Trust Co., has
been presented with a medal of honor
by the government of Greece through
Minister Simopoulos. The ceremony took
place at the Greek legation on r street
late yesterday.
The honor came TO Mr. Howe for con-
spicuous services as treasurer for this
area Of the fund for the relief of father
less children of Greece. The Greek
treasury was greatly depleted by the
war and the enormous influx of refugees
after the war. Relief work was too
great for the home government 10 carry
on alone and fund was started I'm this
country.
Mr. Howe's deep interest in the suc-
cess of the campaign made a lasting
impression on the officials in Athens
The medal conveying the thanks and
appreciation of the Greek government
consists OF the Greek crown of silver
and the Greek cross of gold on an en-
aEnel base. II is most artistic and came
as rare and happy surprise TO the
Washington banker. who started to ex-
press his thanks in Greek but decided
TO finish his remarks in English He Ii
spending today translating the words
on the certificate accompanying the
gift.
Bank President SO Years Old Today
Flowers on his desk gave away the
fact that George l.. Starkey. president
Of the National Bank Of Washington. Is
SO years old today. the veteran banker
being swanped with congratulations by
the bank patrons and host Of other
friends
Mr.. Starkey is considered TO be one
Of the ablest bankers in the Capital
and next Fall will have been I'm the
service of the Bank Of Washington con-
tinuouSly for the past 40 years. Starting
at the bottom. he became familiar with
every department of banking and climb
ed steadily 10 assume the presidency
of the institution upon the retirement
OF &, r. Norment to become chairman
Of the board.
The bank has shown continued ex.
panSion since Mr. Starkey took the
II Is only natural that he should take
pride In being at the head OF bank
that long since passed the century
mark, its only rivals In point OF age
. being the National Metropolitan and
the Farmers IL Mechanics National.
The bank president is In excellent
health and Is always on the job. lie
usually spends his vacations on lone
motor trips, this diversion being one oi
| his hobbies. His home on Michigan
avenue includes such spacious ground
/ tist he has room to keep flock oi
| thoroughbred sheep that are the envy
Of the Agriculture Department.
Mortgage Issue Offered Today.
Shannon & Luchs. mortgage invest
ment bankers, are Offering an issue d
/ $500 900 Chandler Building per cen
| five-year, first-mortgage notes, dn'
April 2. 1888. The notes are issued IL
i denominations from Si00 To S. 900.
/ The Chandler Building Is al l42l
street. not far from the Veterans Bu
roau and the site selected for the neg
Southern Railway Building II Is al
II STORY building. the ground floor 10 b
devoted 10 shons and the remainder Z
offices 1t has been Appraised
ssS0000
The title is held by the Chandle
building CoFporati0n and certified b
the Peal Estate Title Insurance Co. an
the Columbia Title Insurance co.
Local Bank Has New President.
Joseph gel1iay0ne has resigned a
president ~ the International Excilarg
Bank in order 10 take long rest An
The directors have elected FFrsDd
CtinibeFfi AS his successor MT Schia