Evening star., 1928-03-20
BUSINESS IS QUIET
ON EXCHANGE HERE
Savings Bank Principles Laid
Down at Chicago Area
Conference.
BY EDWARD c. STONE.

Stock Exchange apparently reached the
Washington Exchange today, as business
was decidedly quiet. The first two
transactions we're in bonds, Capital
Traction SIS selling at I04 and Railway
& Electric 4S at 93Ss.
Potomac Electric Power 81, per cent
preferred stock came out at i07Ss for
10 shares, 10 more selling at 1917. Ten
shares of Riggs National Bank stock
changed hands at SOL. Mergenthaler
Linotype gained point during the Ses-
sion, opening at l0Sia and closing at
l0Sie on 9-Share turnover Terminal
Refrlgerating & WarehouSing Corpora
ton sold at so
The market closed with four sales in
/ Washington Gas Light stock. Twenty
shares sold at 89sS. 10 at S9l4 while
| the other 10 sold back at the opening
price. In addition to Mergenthaler.
Capital Traction is now being quoted
ex dividend.
Banking Principles Outlined.
AT q regional savings conference in
Chicago similar to the one in this area
soon to be held at Richmond. Craig B.
| Hazlewood, vice president of the Ameri-
/ can Bankers Association laid down
some of the fundamental principles of
sound savings banking. as follows:
/ Minimum capital requirements of
$25,000. segregation of savings funds,
maintenance of proper secondary re-
| serves. constant effort to reduce operat-
/ ing costs. emphasis of quality rather
than quantity of business. adequately
trained bank officers. responsible direc-
tors and high degree of cooperation
among bankers.
Certificates for 140 Graduates.
Certificates will be awarded to l40
students of Washington Chapter, Ameri-
can Institute of Banking, Friday night
al Wardmau Park Hotel showing that
they have satisfactorily completed the
various courses offered during the first
semester. This is one OF the largest
! groups of students. TO receive such hon.
ors at nlidyear. and the occasion will
be memorable one for them. The di-
plomas will be presented by I. j. Rob-
ertS, president of the chapter Most
If these banking students are continuin2
their work during the second semester
and will get further class honors later
in the year
Reserve Loans on Increase.
The Federal Reserve Boards condi-
ton statement of $40 reporting member
banks in leading cities as Of March
Il shows increases for the week of
Sl73,000,0 600 in loans and discounts, of
$4,000 900 in investments. of $146,000,-
600 In net demand deposits, and of S25,-
100000 in time deposits, and a decline
| of Ss,000.0 900 in borrowings for the Fed
eral Reserve banks.
Trading in Warrants Reported.
Trading lover the counter" is report
ed In the warrants attached to Peoples
Drug Stores preferred stock These war
rants permit the purchase of the COM
mon stock at so, the option not expiring
for several months. The common stock
sold yesterday on the New York Curb
at 55A4 and closed at SIS, the days
sales being 200 shares.
willard Calls Deal Reasonable"
The ALLEGATION of the Reading and
Jersey Central TO the Baltimore g. Ohio
is the latest suggestion in the pro-
posed rail consultations. President DAN
lei Willard was asked today by the AS
sociated Press as TO what he thought
Of such deal
Well, 1t sounds reasonable. doesn't
~" was the railroad magnate's reply.
Employees Large Stockholders.
Employees OF the Pennsylvania Rail-
road held l0l.204 shares of its capital
stock as Of March L. In February they
bought 19l shares. making $50 shares
purchased this year. OF the total
i4,248 employees purchased 73.507 shares
through the Provident and Loan Asso-
clation and 5,307 bought 1851 shares
! through the Mutual Benefit Association
OF Pennsylvania Railroad Employees.
Bank Oficial Has Birthday.
c. J. Gockeier. vice president Of the
District National Bank and secretary
OF the Washington Stock Exchange,
celebrated another birthday Yesterday.
being congratulated by a host OF friends.
He was also deluged with postal cards
calling his attention 10 the event Mr.
Gockeler is. a member of the Board of
Trade. Chamber Of Commerce, National
Press Club. Blue Ridge Rod and Gun
Club and many business and civic
organizations. He is one of the most
regular attendants at all sessions of the
local Stock Exchange and has held his
present of1ce as secretary for several
years as well as being a member Of the
board Of governors. He is So.
Heard In Financial District.
Charles Carroll Morgan. head of the
bond department of @. M p. Muir
ply &, Co. was the happiest man In the
tiKdI1Clal GlELGlCL DOCay. n son arrived
in his household at 5 o'clock this morn
ing.
Several friends from New Jersey are
expected 10 be among the guests at
the dinner 10 be rendered President
Joseph Echiayone Of the International
Exchange Bank, at the Willard this
evening
/ Members of the Security Club. who
viii present its seventh annual play
/ al the Wardman Park Hotel on Thurs
/ day evening, include Miss Clara l..
/ GainoY, Alfred w Sherman. Miss Ruth
( Gochenor. Miss Margaret J. Buckley.
! Willard II. Higbie. Denis r. conneli,
Miss Eva M Johnson, Raymond d.
( Lewis and William A. Cady The COM
+ nittee Is made up OF Miss Margaret
| Buckley chairman Messrs Cady,
I Lewis and Kenneth J Winfield
| Rapid spread among State banking
/ departments Of the requirement that
banks under their jurisdiction maintain
credit files on all borrowers with un~
secured loans Of $500 or more ia re-
YesJed by an investigation Just con-
ciuded by the public service committee
ssS fCsH