The Washington times., 1928-05-14
WIMSETT BANK
WILL OPEN
DOORS
By RICHARp HAITON

Announcement is made today OF
the opening for business tomorrow
of the Washington Wimsett Com
pany. The officers Of the new
local unit of the industrial bank
ing organization are located at
Ninth st. and New York Ave. NJ.
W., and have been fitted 4p with
particular attention to the con-
venience OF customers and the
rapid transaction OF business
The office will be in charge Of
Secretary-Manager WistaI M. Bald.
erston, who Is well known in Wash.
ington. having been connected with
large mercantile and financial in
terests here for the past 20 years.
He is especially familiar with the
credit here. as well as with the
local business situation In general,
the operation OF the Wimsett sys.
tenn of industrial banking.
Officers Of the washington VIM
sett Company have been announced
as follows: Austin C. Waller, presi.
dent; Stephen III. Takes. vice presi-
dent; Wistar M. Balderston, secre-
tary-manager; John r. Waller.
Joseph A. Rafferty,, George e..
Furman. Roland s. Stehb:ns, Harry
A. Seay. William Symons. Charles
ID. Hamel, Francis R. Weller. Rich
ard d. Daniels, Austin G. Waller,
stephen Fl. Takes, Samuel S. Clark,
FredericIp M. Pelzman, James A..
Councillor and w. S. Walker, di-
rectors
Bankers Dine Tonight
The dinner OF the District OF Co
Iumbia Bankers Association, which
precedes the annual convention by
several weeks and is in the nature
OF an inspirational affair, which
starts the convention enthusiasm go.
ing full blast, will be held at the
Columbia Country Club this evening
following an afternoon of golf and
other sports. The program has been
in the hands of Lawrence A. Slaugh.
ter and G. I'll. Pope. and 1t Is APP
parent that this will be the largest
prc-convention affair of the kind
yet hell.
The committee in charge has In.
vited the following guests: ]. r.
McCarl, Comptroller General; j. W.
Mcintosh, Comptroller of the Cur
rency; F. g. Await and +. w.
Stearns. Deputy Comptrollers OF the
Currency; william r. Folger, CHIEF
national bank examiner for the Dis.
trict of Columbia; j. w. Pole. r. =.
Mountjoy, local representative of the
American Bankers Association;
Frank j. Hogan general counsel,
Arthur Shelton, John c. Walker,
I. A. Fleming, F. w. Patterson.
Richard Hafton and Edward G..
Stone.
Investors Increase
The number Of American investors
has increased more than S,VOV per
cent in the last Is years, although
the nations gain in population. IN
approximately the same period, was
only "a per cent. This estimate Is
made by economists OF Stone q
Webster and Blodget, Inc, invest
ment bankers, who have calculated
in a survey soon to be pubhsneo:
thar there were Is 600, 900 buyers OF
securities last year as compared
with half a million Is years ago.
In anproximately the same time the
population increased from 9l,9f2'zoo
in 1910 to 117,136 900 in 1925.
The growth, both of number of in
yestors and volume Of securities pur-
chased by them, has been at stead
ilv increasing rate. In the last five
years, 1923-1927. inclusive, this army
of investors has purchased 1886 is
sues of stocks and bonds to value
of 1874, SOC, 7S3. 600. The steady growth
is shown by these yearly totals: 1923,
81 ,912, 76O 900; 1924, $6,064, OOO, 900;
1925, $6,S11 $40, 900; 1925. $7.21S,52O.-
900, and 1927, $9,8O4, 100000.
The securities involved in these
vast transactions comprised 1895 is
sues of bonds at $28, 1891, $50 900; 1853
issues of preferred stock at $1,000
29O 900 and 8O7 issues of common
stock at 1870, 900.
Approximately q per cent of the
exceptional growth in 1927 Is estl'
mated to have represented refunding
operations. The unusually abundant
supply of money prevailing through
out the greater part OF the year, with
the inevitable low rates of interest,
offered attractive opportunity to cor
porations for such .readjustment.