Evening star., 1928-10-30

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The National City A>>.sA
Co. Is contributing
most generously to
the new member Thomas +. Hickman
ship Nine members of the Washington
office, including the manager, are nov
enrolled with the club. The local bono
men just elected to the active list ar
as follows:
Richard w. Hynson, Laurence G
Hoes, G. Clifford Howard Charles P
Light, James P. Nolan, T. Baker Rob
inson, Robert j. Baggett, William M
Candy and Homer L. Shantz jr, Ma
tional City Co.; George Ferris, N. w
Straus & Co.; Charles P. Lukens. jr
HalSey, Stuart g. Co.: Edward S. Hull
Bonbright & Co.; Charles P. Rollins anC
William r. Boger, Stein Bros. 81 Boyce
James M. Johnston, Irving & Johnston
Richard Winder, Henderson. Winder
Co.; William Doeller. F. B. Keech Co.
and F. S. Montgomery and F. B. Pryor
Waggaman & Brawner.
Ennalls Waggamsn and John Brawnel
of Waggaman & Brawner. and S. M
| Thrift. assistant cashier Of the Frank
lin National Bank. have been elected
to associate membership.
Fifth District Business Reviewed.
There were declines in business ir
several lines in the Fifth District ir
September. according to reports from
79 wholesalers and jobbers to the Fed.
eral Reserve Bank It Is reported that
! groceries, dry goods and furniture hao
better month than in the correspond.
ing period of last year. although sales
Of shoes, hardware and drugs showed
a decline
Stocks of groceries increased, but dr.
| goods, shoes and hardware stocks fel
! OF. Collections were better in Septem.
Der than in August in hardware anc
| furniture. but lower in other lines. Sep.
| tember sales of 80 leading department
stores averaged 23.6 per cent above
August Sales we're per cent above
September, 1927.
The volume of production and dis
tribution of commodities increased
seaSonally In September and was large
than year ago." the Federal Reserv
Board says in its summary of genera
business and financial conditions
There was a further advance in tn
general price level. Loans of membe
banks in leading cities increased il
September and October In response t
the seasonal demand for commercial
credit.
Demand for bank credit for com
mercial purposes increased between tn
middle OF September and the middle O
October, refiecting seasonal activity Il
trade and the marketing of crops
There was also growth in loans +
brokers and dealers in securitie:
though total loans on securities of re
porting members showed little change
During the four weeks ended Octo
Der "a growth of about SAC. .0OO. 900 /,
the total volume of Reserve bank credi
in use was due chiefly to continue,
increase In the demand for currency
onset in part by small inflow Of gol,
from abroad.
With Franklin Bank IL Years.
Thomas p. Hickman, vice presiden
and cashier Of the Franklin Nationa
Bank, is now completing II years con
nection with the institution. MI
Hickman Is one of the charter members
having been made director when tn
bank was organized in 1914. He becam
actively connected with the Frankli]
National in 1918, first as vice presiden
and two months later being asked +
serve in his present dual capacity.
Before becoming associated with Johl
3. Cochran, who is president of tn
Franklin and also of the Planters Ban
at Staunton, Mr.. Hickman was con
nected with the old Traders Nations
Bank which gave up its identity wear
ago BY figuring in a merger. Vic
President Hickman is native O
Loudoun County, Va, and has been
resident OF Washington 80 years.
Bonds Prominent on Exchange.
Bonds held the limelight in fairl
moderate trading on the local exchang
today. Washington Gas 6s, series A
opened at l05B and closed at 1853. OF
81, 100 turnover. The Gas B bond
moved at l071s. Capital Traction 5
commanded 1919 and a $4,000 sale h
Potomac Electric Power consolidated 5
took place at l01.. A $4,000 transfer il
Chesapeake e. Potomac Telephone 5
was recorded at 997s.
On the stock side, Sanitary Grocer
preferred made a new high by sellin
at l53, up points. Gas Light stoc
moved at l0l3z, Railway e. Electric pre-
ferred at 100$s and National Mortgag 2
81 Investment preferred at 5%. Si
shares OF American Security e. Trus
ASS.
Mergenthaler Linotype overshadowe
all other issues in the amount of trad
ing. Two hundred shares opened tn
sales at 101, 100 more sold at 1908
and still another 100 at 10l.
Virginia Bonds Put on Sale.
An issue OF $3.0OO,0O0 first morteag o
and refunding 20-year. Sla per cent
gold bonds, series A, of Virginia Publ
Service Co. is being marketed by
syndicate. The bonds are priced a
9712 and interest to yield over 81
per cent, and the proceeds will be use,
to retire $l,400,000 divisional mortgag
bonds and to reimburse the compan
for additions. Improvements and exten
sions to property.
The company supplies electric ligh
and power in 1877 communities in Vir
ginia with a population of over 265 ,00C
Gas is furnished in 10 communitie
and ice in 38, including Newport New
and adjacent towns. Street railway
are operated in Newport News an,
through a subsidiary In Charlottes
Vile.
The company is a part of the syster
OF the Middle West Utilities Compan!
Cleaned in Financial District.
Albion K. Paris, veteran financie
and member of the original brokerag
firm of Crane, Paris & Co., is no.
seen much more frequently in tn
financial district He has been i'll fo
several months, but recently has bee
making a rapid recovery.
The Washington branch of the Uni
versal Credit Co., the Ford Motor Co.
new authorized financing agency, wi
open for business Thursday in the In
vestment Building j. Cassin william
is manager of the branch.
Joseph Schiavone, former presider
of the International Exchange Banl
left Washington yesterday to speak
Trenton tonight at political rally. o
Wednesday night he will speak
Baltimore.
william A. Scully. resident partne
of Wright, Slade g. Co., who has bee
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