Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-04-01

ness, gradually spe-
cializing in the IN pA..
handling of first
mortgage investments. So marked was
the growth of this end of the business
that during the last decade the other
branches have been discarded and to-
day, as mortgage bankers, this house
furnishes investments to host of in
Vestors not only in Washington but
throughout the world.
The history of the company runs par
allel with the growth of the Nations
Capital, for by means of their distribu-
ton of first mortgages the firm fur
nlShed the capital for the erection of
hundreds of new homes as well as
liberal portion of the other buildings
which now adorn the city.
During the last decade the following
landmarks of Washington are among
the new buildings which have risen
from the seeds of their first mortgages
Wardman Park Hotel, Carlton Hotel,
Hay-Adams House, Annapolis Hotel,
Securities Building, Printcraft Building,
Windermere = Harrowgate Apartments,
Cathedral Mansions, La Salle-Dulin &
Martin Buildings, Department Of JUS
tice Building.
The present officers of Swartzell, Rheem
& Hensey are Luther A. Swartzell pres
ident; Edmund D. Rheem, first vice
president; j. Newton Brewer, second
vice president; John H. Holmead, treas
urer, and George F. Humid. secretary.
The firm starts off its sixty-first year
with the brightest of prospects.
Lanahan Opens Washington Office.
w. w. Lanahan & Co., members of
the New York and Baltimore Stock Ex-
changes and associate members of the
New York Curb Market, announce the
opening OF a Washington office, with
EDWIN d. Flather as resident manager
The new Office, located in the Hill
Building, IS equipped with New York
Stock Exchange ticker and with direct
private wires to the main Offices of the
Lanahan firm in Baltimore, as well as
to the New York offices of Hornblower
d Weeks, one of the firms New York
correspondents. Other New York cor
respondents are Clark. Dodge & Co. and
Dominick & Dominick.
The members of the firm are w. w.
Lanahan, Henry Lay Duer, Ellicott H.
Worthington, Daniel H. Flynn and Will
liam C. Stettinius, all of Baltimore.
Edwin D. Father, manager of the
new Office, is well known in the f1nan-
cial district of Washington. For 80
years he was associated with the Riggs
National Bank, and for the past eight
years has been Washington manager
for Baker, Watts & Co.
Additional Stock Being Offered.
The District National Securities Cor
poration board of directors has author
lied the sale Of the remaining 1,341
shares OF 2 per cent cumulative pre-
ferred stock Of the authorized issue of
81 ,00o,0 900. The additional shares are
being offered to present stockholders |
first. There already are 1859 shares |
The new stock is offered at $101 per |
share, redeemable at the option of the |
corporation at any dividend period |
three years from the date of issue at |
S110 per share. The securities corpora /
ton is sponsored by the same oficers |
and directors who are in charge Of the |
District National Bank. The notices |
sent to stockholders are signed by Rob-
ert N. Harper, the president. The man
ager Of the company is Robert L. |
O'Brien.
Exchange Governors Elected.
At the special meeting of the mem
bers Of the Washington Stock Exchange |
today George Weber and William w. |
Mackall, jr., were elected temporary |
members of the board of governors. |
They take the places temporarily of |
Eugene E. Thompson and Y. e. Booker,
who withdrew from the board while |
the election Of new member Is pend
ing.
Upon the return of John Poole, presi-
dent Of the Federal-American National |
Bank, to the city the matter is ex-
pected to be taken up by the govern
ing committee and settled. The point |
at issue is the election of a member |
to the exchange who is not a partner |
In the firm with which he is connected. |
Two or three members have been |
given seats in the past who were not |
partners in the firms by which they |
are employed. They were elected with |
out opposition In the present case |
here is opposition which has resulted |
Ia several different interpretations Of
he constitution.
Trading Light on Exchange.
Following the three-day closing, trad
Ing was light on the Washington Stock
Exchange today. Potomac Electric Pow
er per cent stock sold at l0712 and the
Sc per cent stock at 107A. Capital |
Traction opened with 20 shares selling |
1T 983s and closed at the same figure.
Washington Railway & Electric pre-
ferred moved at 971a, Columbia Sand |
& Gravel preferred opened at 925s,
went to q and closed at go, while. 10 |
shares of Mergenthaler changed hands |
at 1071a. One hundred and forty shares !
Of National Mortgage & Investment |
preferred sold at 534, 10 shares of COM |
mercial National Go. preferred sold, at |
l03 and Peoples Drug Stores preferred |
came out at 100. @
Only two bond sales were recorded, a |
small Washington Gas 6, series B, SELL |
ing at l03 and $4,000 Capital Traction |
SIS commanding 991a. The ex-dtvidend
list was greatly reduced by the dividend |
of April /.