Evening star., 1928-11-22

Brooklyn and Chicago without any new
| financing Interruptions to dividends
| The company has total assets of $l3,-
/, lT7,007 and current liabilities of $2,918
With the exception of the usual minor
bills, the company has no Indebtedness
Norman Dodge presided at the meet
ing. Edward j. McQuade, president of
the Liberty National Bank Of this city
was reelected director. Joseph T.
.Maekey, former secretary and treasurer,
was elected director and also made
executive vice president. Other officials
elected included Frederic D. McKenney,
vice president and general counsel;
Conrad A.. Hanson, vice president in
charge of works; Thomas j. Mercer.
vice president in charge of auditing,
and William c. Mcguire, in charge of
/ sales. -
Other directors are Ogden Mills,
Ogden L. Mills, Albert H. Sawyer, Nor
man Dodge. Ogden M. Reid. Mr.. Nc
Kenney. A H. Pollen and Mr.. Mackay.
Busy Day on Local Exchange.
George o. Watson, newly elected
president, took his seat and presided
over a busy session of the Washington
Stock Exchange today.
Chestnut Farms Dairy preferred was
CSPCCAaAAy oCEF0, OP0AliAS az AVo74 G"G
closing at 109. The days sales totaled
200 shares. Another lively stock was
Potomac Electric Power 515 per cent
preferred, which opened at 108 and
moved up to 1882 during 10 transac-
tionS involving a transfer of 172 shares.
Railway g. Electric preferred sold at
99$, District National Bank stock at
238 and Riggs National Bank warrants
at 315. Lanston Monotype registered
118 and 118B Mergenthaler Linotype
reflected the favorable annual report
made yesterday by selling at the highest
price in many months. The stock
opened at 103 and closed with 100
share block changing hands at 103Ks.
Bonds were in moderate demand at
recent prices
Edward L. Hillyer, who was reelected
vice president of the exchange yesterday,
was reported today as holding his own
following his recent operation. Mr. Hill
yer is vice president of the Union Trust
Co., with which company he has been
connected for just 80 years. in other
words, since the bank was founded
When in good health he rarely misses
session of the exchange.
Railroad officials Have Feast.
As the result of an election bet be-
tween Edwin T. Brandenberg and Har-
ley P. Wilson, won by the latter, Mr..
Brandenberg gave dinner to the board
of directors of the Washington Railway
& Electric Co., last evening". at the Will
lard. Those present included Charles j.
Bell, Woodbury. Blair, Daniel j. Gala
han, Frederick w. Doolittle of the North
American Co., New York; Robert v.
Fleming, William T. Gallaher, Julius
Garflnkle, President William S. Ham,
Robert N. Harper. Leonard H. Mitchell,
Clarence F. n ment, Mr.. Wilson, S. r.
Bowen and M. KeySer, secretary Of
the compaLy Mr. Brandenberg paid
the let in royal manner and the direc-
tors had delightful evening.
Auditors in Enthusiastic Session.
There was large attendance, includ-
ing number of prominent bank officers
not members of the organization, at the
open meeting of the District of Colum-
bia conference of auditors and control
lers held at the University Club last
night at which an address was delivered
by Deputy Controller of the Currency
E. H. Cough. President J. Damn Faber
Of the organization, presided.
The meeting was one of the most
enthusiastic sessions held since organ
ization. The group is looking forward
with great interest to affiliation as a
section of the District Bankers Associa-
ton. Plans for this move were advanced
during last nights gathering.
Mr.. Coughs address proved highly
instructive and entertaining. The banks
were unusually well represented
Company to Increase Capital.
The Guaranty Co. of New York, the
Washington Office reports, has taken
corporate proceedings to increase the
capital stock of the company from
IS ,000, 900 to 100000. When this in
crease in capital becomes effective a
stock dividend of $4,000,00 will be de-
clared out of the company's surplus and
reserve accounts. AS the Guaranty
Trust Co. of New York owns all of the
stock of the Guaranty Co. of New York,
the dividend will be paid to the Guar
anty Trust Co. of New York.
New Insurance Still Growing.
A compilation of new business re-
cords of Al life insurance companies
which have 50 per cent of the volume
F, outstanding in all legal reserve COM
panies in this country, submitted by
the Association of Life Insurance
Presidents, shows that new life insur-
ance production during October was
AT per cent greater than during
october of last year. Insurance pro-
/ ductiOn during the first IN months M