Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-10-04

PICbCu d'JOub tWN
| years ago.
| G. Bowl. Chipman. 1T is reported ir
I Wall Street." sale
| Mr.. Chapman. that on January l the
| New York Stock Exchange will en-.
large its facilities sufficiently to handle
| 10000, 900 share days more easily than
the present business is now handled. In
my opinion, however, 100000 share
days will not come for another five
years, although we shall eventually have
that amount of trading"
The new facilities in the company's
, local office include a new and COM
pletely furnished boardroom The
quotation service is in the center of the
board. In addition to the symbol for
each stock and the dividend figures, the
novel plan has been adopted of having
the name of every corporation printed
on the board just above the symbol.
the aim being to assist customers who
are familiar with only a part of the
issues on the exchange.
Mr.. Chapman is to have new office
on this floor, the firms telephone board
has been installed there, next to this
being a customers private room with
ticker service Just off the boardroom
is the wireroom, with the operators
n
One of the special features of the board
room will be files containing all the
leading financial publications in the
country, some of which give advice and
others the results of Investigations into
different stocks.
l.. w. Todd, former Office manager,
has been placed in charge of the fin
ances Of the Office here, and Chester
w. Lockwood has been appointed gen.
cral manager of the Washington Office.
L. w. Suter. Henry M Camp. William
Sturtevant, ir., and Frank NJ Rum
bolt are associate managers.
Trust Company Adds to Surplus.
At regular meeting of the board
OF directors of the Washington Loan
d. Trust Co. yesterday it was voted
to transfer 100000 from undivided
profits to surplus, this action making
the banks present surplus 50 100000.
1t also means that the total capital and
assets become $3.200,000
The board also voted the regular
quarterly dividend of per cent. payable
October "a.
Metropolitan Votes Dividend.
The directors of the National Metro
politan Bank yesterday declared the
usual ASemi-annual dividend of S per
| cent on the capital stock. The dividend
| is payable on October Is. The transfer
books will be closed from October to
October "A, both dates inclusive.
Broker Arrives Here in Plane.
E. L. Mcdonnell, one of the partners
In G. M. p. Murphy e. Co., has been
visiting the Washington offices for a
few days. He came in a Curtis plane.
which he piloted himself, which is capa-
bic of speed of $50 miles per hour.
The broker Is such good aviator that
he came over from New York in about
two hours. He left here this afternoon
to fly back.
Riggs National Stock Scars.
Riggs National Bank stock scared to
$50 per share on the Washington Stock
Exchange today, new all-time high
and a jump of 20 points over the last
sale made on the exchange at $50.
Thirty-eight shares changed hands
during the session. The advance was
attributed to yesterdays announcement
in The Star of the proposed consolida-
ton of Riggs and the Farmers &
( Mechanics National Bank of George
town, the merger already having been
approved by both boards of directors.
Another high priced Washington bank
stock appeared on the board today when
five shares of Washington Loan & Trust
sold at Sos. having advanced to that
figure from 507.
Other Local Securities Steady.
Sanitary Grocery preferred opened at
1924 and closed at 1925. The turnover
was So shares. Merchants Transfer e.
Storage common came out at 129, up a
point from the last SALE Two shares of
Washington Gas moved at 99A. Sixty
shares Of copies Drug Stores changed
hands at 11412.
In the bond division Capital Traction
SIS sold at 101, 101S4 and l01A Wash
ington Gas IS moved at 1925. Gas
bonds. series A, came out at 1854 and
Gas B baby bond sold at 1855.
New Institute Course Started.
A. E. Henze. chairman Of the educa-
tional committee of Washington Chap
ter, A. I. B.. announced today that
Arthur Deering of Catholic University
has been secured to teach the new spe-
cial course in business English and let
ter writing. The new class will meet on
Wednesday evenings beginning next
week
Banker Visits Eastern Shore.
Thomas z. farrell, president of the
WaShin1 on Savings Bank, is visiting
his old home town of Greensboro, on
the Eastern Shore, Maryland. About
80 years ago Mr.. FARRELL came to Wash
ington, modest telegrapher, with few
funds. but a large stock of energy,
industry and determination. These
qualities in the years that have elapsed
have made him a prominent local
banker and realtor
Trust Company Has Open House.
The Union Trust Co.'S reception last
evening was complete success, the
enlarged banking facilities showing off
to splendid advantage. Many of the
most prominent bank presidents and
other business men in Washington
dropped in to extend congratulations
There was profusion of flowers from
other banks and business associates
All the facilities aroused high praise