Evening star., 1929-06-03

at 90.
Lanston was prominent with Al shares
at 1870 and Mergenthaler figured In
several small sales. The stock opened
at 1861 and closed an eighth higher
Merchants Transfer & Storage preferred
came out at lO8. the common at l24
and Federal-American Co. preferred
at 10l.
Commercial National Bank stock
registered a sale at 260 and Riggs Ma
tional recorded a small sale at SIG.
Bonds were considerably slower than
they have been for some time. Prices
were little changed from recent similar
transactions. The utility issue, which
vas paid of June /, has freed con-
siderably money for other bond pur-
chases.
Banks Drive Brings in SSS6,6lO.
Depositors in the Security Savings g.
Commercial Bank have been deeply in
rested in the new business campaign
,-hich has been carried on for several
eeks and closed on June /. Final fig
res available today showed that the
rive had brought in $886,6lO.48, just
bout three times the original goal,
flich was 100000.
Francis G. Addison, jr., was captain
val of S2O7, ,O50.72 The captains OF
,veral other teams secured practically
,e same amounts. Among the cap
,ins we're President Julius I. Peyser,
n Herzog, Fred Mckee, E. C. Baltz,
r. Baulsir, D. S. Birney, T. H. Leith,
William Roberts, D. S. Bishop, Os-
aid Lehman, w. j. Shipman, j. II.
7all. N. T. stiles and F. Bronson.
The contest aroused great rivalry
nong officers, directors and employees.
1ily records were kept and posted In
lie main ONCE and at the branch. The
.,1ployes secured the largest number
new accounts, while the officers OBJ
ined the largest sums OF money. Tne
rectors led the stockholders in the
mount of new business secured. The
i've included savings accounts, check
2 accounts, certificates OF deposit,
al estate loans and safe deposit box
ntals. :,
The campaign was conducted IN
uch the same manner as the one re-
-r1tlv described in the American Bank
s. Journal. In that drive, however.
.emiums were offered. In the local
:. nk's contest the only expense was for
ira stenographic work in keeping SC
any records.
&tennenS0n DFutAdHb
Local bankers are expressing great
tisfaction that Rome c. Stephenson
cond vice president of the American
,nkers' Association, is to address the
invention at Montauk. Mr.. Stephen.
n halls from South Bend, Ind. and
IS made a brilliant record in banking
the natural course OF events ne VIII
president Of the American Bankers
,sociation two years hence. For that
>ason Washington bankers will be es-
,cially glad to meet him at their own
invention and to hear him speak.
Reservations were reported today by
Clairman Claude H. Woodward as COM
In every rapidly, while Chairman
9rrv L. Selby of the hotel committee
already studying the layout OF the
otel closely with a view to making
erybody happy in the room selections
President Robert v. Fleming ana :
: legation will go to Montauk Point
"a last of this week to make the ma
-rangements for the opening OF the
invention on June 20.
Long-PulI Outlook Held Good.
Optimism over the long-pull outlooF
: convened in the weekly review OF the
.lsiness Economic Digest. which says
During the last week the stock mar
as a whole reflected consloerapis
mount of fear on the part OF traders
Id short-swing spectators, resulting
general downward tendency II
ices. Undoubtedly the uncertainty
~er advances in the rediscount rates
1ntributed largely to this unsettiee
ndition.
The satisfactory progress OF genera
,siness continues and evidence OF
IS than normal Summer seasonal let
,vn in business activity continues u
,cumulate. We find a more genera
,clination on the part Of various imam
al advisory organizations to dlsregart
jrrent reactionary tendencies IN tn'
,,arket and to confine their discussion
:, favorable long-pull outlook.
The bond market remains weai
..nder the pressure of higher none.
ties and authorities look for no sub
antial strengthening in quotation
,uring the immediate future, although
le long-pull outlook of sound bonds
.ewed with favor"
Ready for Institute Convention.
Washington's junior bankers are read
:, board the special train next Frida
nd start for the annual convention O
he American Institute of Banking
~hich opens at Tulsa, Okla, on June l
nd lasts until June IA. The neWl
lected president of the local chapter
4. z. Henze, and T. Hunton Leith. can
date for position on the natlona
,xecutive council, will leave here tw
avs ahead of the rest of the delegation
delegates on the special will stop owe
It Hot Springs. Va, for eight hours o
aturday. where they will have Dime
nd dance. They will also stop of
charlottesville long enough to visit tn
University of Virginia and Monticell
N a hurried auto trip.
In addition to Henze and Leith. tn
Washington delegation is composed
G. Whitton, William Winstead, Ray
lond Lewis. Frank M. Perley, l.
,oberts. James A. Soper, Miss Ros
2oyce. r. A. Sisson, j. F. English, @. v
yeene. John De Marco and Richard
4,orris.
Heard in Financial District.
The Riggs Bank staff is natural
highly elated over the fact that a
nree winners of the Institutes essa
contest were from that bank. Last yes
he bank furnished two Of the winner
This year the bank had fourth er
rant, but there were only htree award
Bankers today expressed regret tn;
here were only seven contestants Tn
rear against nearly 20 last year. 1t
believed that the subject may have bee
considered more difficult than usu
rather than the junior bankers a.
losing interest in a contest of this kin
c. j. Gockeler, vice president of Il
District National Bank and secretal
Of the Washington Stock Exchang
mas returned from four-day visit
Margate City, N. j.
Frank e. Ghiselli, vice president
the Merchants Bank g. Trust Co., is a
tending the annual Shrine conyenti'
which is being held this year in L