Evening star., 1928-05-24
HAzEN REELECTED
TO MILLER BOARD
Reservations for Bankers
Convention Above Total for
1927, Slaughter Says.
BY EDWARD C. STONE.

BY EDWARD C. STONE.
Melvin c. Hazen of Washington wa,
reelected q member of the board oi
directors of the Miller Train Contro
Corporation at the nineteenth annual
meeting of the stockholders held at the
head offices of the company in Staun-
ton, Va. yesterday. William NJ. du
Pont. jr., was made chairman of the
executive board to fill the vacancy
caused by the death of his father last
January
Miller Train Control stock is largely
held IN Washington and many local
shareholders attended the meeting.
Most of the remaining stock is held in
Virginia, Maryland. New York and
Delaware. An unusually large percent
age of the stock was represented at the
meeting
The officials reported the company to
be in excellent financial condition and
declared that prospects for future busi-
ness are bright. Mr.. HaZen. the WASH
ington director, is city surveyor and
has served the company capably for
some years.
Convention Outlook Bright.
Lawrence A. Slaughter. vice president
OF the Commercial National Bank. and
chairman Of the transportation COM
mittee for the District Bankers ASSo-
citation convention at Montauk Beach.
reported today that reservations for the
annual meeting are now ahead of the
number received at the same time last
year This indicates that the attend
ance will break all former records as
last years turnout at Hot Springs made
q new record
AS only about two weeks remain be-
fore w w Spaid will call the con-
vention TO order, the remaining reSer-
vation requests must come in rapidly
or the most desirable accommodations
will be taken. A special attempt has
been made this year TO get more bank
directors to attend the sessions and
the drive is reported to be bearing fruit.
Every one of the special committees
have their work practically completed
and the annual reports are almost
ready.
Ample Credit in Fifth District.
At the Richmond Federal Reserve
Bank money conditions are little
changed from year ago. The report
ing members of the fifth district show
loans and investments OF $694, 10000,
an increase in year Of $35 ,074 900
Their commercial loans show decrease
of sl6963. 900 f.om May IL. 1927; loans
against corporate issues an increase
of SOS. .95l 600, and their own invest
.ment holdings an increase of S.3lS.-
600. The Richmond banks are borrow
ing S2i .532 900 at the Federal compared
with only S7,000000 a year ago.
Prices Firm on Local Board.
Security prices were firm on the
local Stock Exchange today, with Lam
ston Monotype figuring in the largest
amount of trading. so shares changing
hands ex-dividend at lis. Capital
Traction sold at 1882. Potomac Elec-
tric 5lz per cent preferred, at 10I.
Peoples Drug at ll4l2 and Sanitary
Grocery at 1l6I4.
There was a Io-share sale of WASH
ington Railway g. Electric common al
$50. OF nine points from few days
ago. Federai-American Co. preferred
came out at l0734, while 10 shares
Of Mergenthaler moved at 1924. WASH
ington Gas remained at 95lz.
Washington Gas SIS. Series A. brought
fD53k in $1,000 and $4,000 transfers.
GEORGETOWN Gas SIS registered q $4,000
sale al iO31z. Capital Traction 5s sold
At 1921 on a $4,000 turnover. A sale
was also recorded IN Wardman Park
Hotel 5izs at 1894.
American Ice Profits Increase.
April profit Of American Ice Co, was
s2I7 ,664 before interest and oeprecla-
ton, compared with sl7i.7S4 IN April
1927.
sidiary, the Knickerbocker Ice Co. Is
negotiating for purchase Of a large Ice
plant In the Bronx, IN New York City.
II this plant Is acquired, the company
win have manufacturing facilities Tor
the first time in this territory.
Company Passes Dividend.
The directors Of the Stanley Co. Of
America, operators Of theater chain,
at a meeting in New York yesterday,
omitted the quarterly dividend due at
this time The company paid dividend
OF rs cents on April 2, the previous
quarterly rate having been 81. Waddin
Catchings Of Goldman Sachs Co. was
elected a director.
Entertains Local Bankers.
william c. johnson, assistant 10 John
Poole, president Of the Federal-Ameri-
can National Bank, entertained the offi-
Gals of the bank and their wives yester-
day al the estate of z. j. Steilwagon.
known as the Oaks, on West River.
There were about 20 in the party. and
several remained at the handsome old
homestead until today, returning 70
Washington this afternoon.
Financial District Notes.
The Washington Bank Women's Club
viii mold It's May meeting at the Har-
rington Hotel tomorrow evening, with
Mss Lois E. White presiding. Follow
ing the dinner there are several b1si-
ness matters TO come up.
G. j. Gockeler, vice president OF the
District National Bank and secretary OF
the Washington Stock Exchange, VIII
"a 10 Margate City. n j.. Saturday 70
remain until after Memorial day.
While there he viii select cottage for
his August vacation
J. william Harrington has returned TO
his post a. w b. Hibbs 81 Co. after an
operation for the removal OF his tonsils
at Garfield Hospital.
Joseph Eciaiavone, former president oi
the International Exchange Eank, was
accorded q complimentary dinner at ms
old horne in Trenton. N. j., last night
The last bankers luncheon before the
convention viii take place next TUESDAY
instead Of Wednesday On account oi
Memorial day.