Evening star., 1928-12-11

| lar aCC6nQanLS at ali the eACIldIlSe SSS
sions and one of the largest traders. ,
session without some Of his rapid-fil
| bidding would be rather tame.
His long financial career, is too we
| known to be repeated here. In connee
ton with his ancestry 1t Is tnterestm
to note that his paternal grandfathe
came to this country from England ~
I wears ago. and Who's Who in Finance
saws his father was the first chill
of English parents born in Washington
Mr.. Hibbs, however, is native OF VIZ
ginia.
Heavy Trading on Exchange.
Trading on the Exchange was heav
today, with broad interest In Mergen
thaler and Lanston. Mergenthale
eased off a bit, opening at los an
closing at 10434, on a 70-share turn
over. Lanston moved at lib and llSf
sales reaching As shares.
washington Gas, which commando
so much attention last week, figure
in but one sale today, five shares g
| 99A. Railway & Electric preferre
moved at 995s, SO shares OF Caplts
Traction changed hands at. 107h, an
Potomac Electric Power ~ per cer
preferred sold at 108ss and 108A. TIL
6 per cent issue registered 112.
Ten shares of Riggs National Ban
stock changed hands at SAC. Tradin
| in Riggs Bank warrants ended yester
day and this issue has been taken oi
the board. The final details in til
merger with the Farmers & Mechanic
National will be completed in a yer
| few days.
In the miscellaneous list toda
Merchants Transfer & Storage prefer
red sold at 1882, District Nations
| Securities preferred at 101& and Barbe
g. Ross at 81. Chestnut Farms Dairy pre-
| ferred came out at 106 and 40 share
! of National Mortgage & Investmer
preferred moved at SIS. There wer
| 10 transactions in bonds around recen
levels. In the unlisted department 5
shares of East Washington Saving
Bank stock sold at 40.
Savings Bank Declares Dividend.
The directors of the Chevy Chas
Savings Bank have declared the semi
annual dividend of 2 per cent. tn
disbursement is payable December 3
to stockholders of record on Decembe
20. DR.. Frederick E. Darlington, tn
president, announced that the past 81
months had been unusually successful
from business standpoint.
Stockholders Elect Directors.
The annual meeting of the stock
holders of the Potomac Savings Bank
in Georgetown, is taking place thi
afternoon in Alexandria, as the banl
holds Virginia charter. No change
were expected in the present director
ate, which is as follows: William P
Ames, William w. Anderson, Alphons
NJ. Baer, Emory H. Bogley, B. Age
Bowles, William II. Clarke, Davenpor
B. Elgin, James G. Hoyle, DR.. Nal
colin W. Morgan, George W.. Offutt
NJ Wilson Offutt, Henry w. Offutt
DR.. Anthony M. Ray, G. Wendell Shoe
maker, j. William Stohlman, Henr,
A. Storm and j. Clinton Tribby.
Fewer Failures; Lower Liabilities.
In the fifth reserve district CONNER
cial failures in October, 1928, numbere,
| 106, compared with liz in Septembe
this year and 104 in October last veal
The aggregate liabilities reported fo
October totaled $1,633,885, a lowe
| amount than either the $2,700,752 re
ported for September, 1928, or $1,761,
| 672 for October. 1927. The fifth distric
record for October is therefore contrar
to the seasonal and the national trenC
both the number of failures and tn
total of liabilities involved being les
than in September.
Employment conditions, according I
the Richmond Reserve Bank, appear t
/ be distinctly better than they were 3
this time last year or earlier in 1872;
Industrial plants are generally operat
l - F,,II s~~
district, building construction is NOR
active than in the Fall of 1927 and coa
| mines are seaSonally busy.
s125,oO0,oOO in Airplane Issues.
! The end of the year will see approx
mately 100000 miles in the flyin
schedules of the air services in tn
United States, it is declared in an articl
in the current issue of the America
Bankers Association Journal
"Air transport has assumed the 81;
and responsibility of big business an
big business is becoming interested
the article says. Combinations I,
capital IN America are already formir
themselves into groups in air transpo
similar to the railway groups long e1
tant in transcontinental transportation
Investment of capital amounting
at least $125,000,000 in the construt
ton and operation of commercial a
planes and the entrance Of all the gres
railway systems into the air transpo,
business in some manner or degre
keeps pace with further general develop
| ments in better service to the the publ
and increased business for the Govern
ment and carriers.
"At the close of the last fiscal yea
there were 26 air way operating con
Germs operating SO routes aggregatin
1880 miles, and 1920 miles wer
flown daily.
Wide Interest in A. I. b. Forum.
Such wide interest is being man
tested in the first forum dinner of tf
season under the direction of Washing
ton Chapter, American Institute {
Banking, at the Raleigh tomorrow eve
ming, that an unusually large attenc
ance is assured
Frederick H. Cox, who is the commits
tee member in charge Of reservation
was most optimistic today over the ou
look. AS already stated, the que
/ speaker will be, DR.. Stephen I. Mile
formerly education director of the IL
stitute and now connected with tt
National Association of Credit Men.
| MI. M1lEI Will Ldlk O1 OTeuIL,
most important subject to all banker
I. j. Roberts will preside.
Underwriters to Hear Wells.
F. L. Wells, general agent for Mar,
land of the Aetna Life Insurance Ct
will be the speaker at the Decemb
meeting of the District of Columbia Ii
Underwriters Association, which NEE
Thursday noon at the Arlington Hot
Mr.. Wells has been most successful
insurance work and will talk on II
problem of increasing production.
President A. L. Baldwin also al
nounces that the Community Chest pl:
will also be briefly described.