Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-08-05
: RANKS AND TRUST COMPANIES
PROVE EFFICIENT EXECUTORS
ID. G.. Estates Valued at Nearly $4O0 ,0O0,O 600
Are Administered by Financial
Institutions-Plan Is Wise.

limitation on the securities that can
he sold or on those that can be pur-
chased. There are frequently qualifl-
cations and limitations upon the
trustees power to hold. sell or invest,
and in such cases the provisions OF the
trust instrument must be closely al
hered to-
"The oficer having investments In
charge should have a broad general
knowledge OF such matters and also
particular knowledge Of many OF the
leading investment securities.
He must study the daily financial
news and keep In touch with economic
conditions. He must have the dill
ferent manuals, particularly Moodys
and Poor's. at his right hand, and In
addition, should be continually ask
ing for reports on securities held N
the trust from the different concerns
who make speciality Of reporting on
securities.
he will not always be controlled by
such reports, but in most cases they
would be very helpful. Most trust
companies have trust committees, the
members of which meet as often as
the needs of the trust department re-
quire and which pass on all sales
and purchases of securities"
Washington Securities.
Y. E. Booker 81 Co, investment
brokers' members of the Washington
Stock Exchange, have just issued the
third edition of Washington Securities,
a record of the formation. the officers
and directors OF the various corpora
tions doing business in the District of
Columbia, capitalization, stocks and
bonds. including listed and unlisted,
details as to maturities of various is
sues, earnings of public utilities and in
addition, the District intangible law.
A feature of the records, In COM
pact pamphlet form, is found in he
bank statistics. giving full details re-
garding the various bank shares CAPT
talization, surplus. undivided profits,
total resources, high and low for IL
months ended with June 30 and the
| book values of the shares.
| In the bank group are included listed
and unlisted shares In the preparation
| of this work Y. T. Booker and his asso-
ciates performed veritable task re-
curing the most intimate patience and
study, and at a cost that is no small
matter.
Mr.. Booker, himself q seasoned finan-
cial editor before developing into one
of our most successful brokers, has lons
| been familiar with securities and also
with the need of such work. also with
its value as an advertising medium.
| The present issue Is the most COM
plete since 1918, when the last boune
| volume of Washington Securities wa:
issued under the editorship of Eugene
E. Thompson of Crane Paris a. Co.
who also published many annual issue;
before 1913
| Y. E. Booker & Co. say: "The fac
that the securities Of any company are
| included in this booklet must not b,
| construed as Recommendation of them
/ by u.s."
General Business Conditions.
The optimist now has distinctly thu
| 1929 is to show improvement over 1922
| or the reverse. The last quarter o.
1927 showed a let-down of activity
which caused misgiving about the new
| year. but the first quarter of 1921
showed recovery. the second quartz
gave increased confidence. and the be
ginning Of the third quarter has es
| tahlished a general belief that thu
years record will surpass that of 1927
Retail trade has improved with tn
advent of more seasonable weathe
than that Of the Spring months o
June. The crop situation as Who'll
Is good. with the prices of most agri
cultural products better than last year
the iron and steel industry Is havin,
the greatest year In its history which
is significant OF general industrial activ
ity. The employment situation is bet
ter than year ago. ana the nationa
income Is higher. The country Is hold
| ing its own in foreign trade. and. al
though it has lost approximately $500,
| 100000 In gold during the past year
the financial situation is essential,
sound. Interest rates are higher. bui
| this is to be regarded as a wholesome
development the effect of which will be
to curb the tendency to undesirable
credit expansion. City Bank