Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-19

lOW0k volume VI E$# # r.
sales than in Feb @
r.c-y, 1923. Lynch L-4ssGz. Il -
burg's increase was Alfred p. Sloan, Jr
2l2 per cent and
Washington's gain was an even pc
cent. But Baltimores retail trade fe
off rs per cent, Huntington, w. Va, wa
down 8.S per cent, while other elite
registered a decline of 1873 per cen
Richmond was off less than l per CEN
The Reserve Board reports that MAJ
order and 5-and-10-cent chains shoWe
substantial gains. due partly to an IN
crease in the number of stores. Fertl
lizer sales are still declining, and farm
ers are planning to raise less Tobacco
and fewer potatoes this year.
Industrial progress has had no set
hack The open Winter is speeding
protects under way and many ney
building plans are announced: In
biggest single item is the projected ex
penditure of $35,000,000 on a secons
unit of the Allied Chemical Co.'S plan
at Hopewell. Va. The first unit, cost
ing S45,000,000, was recently put II
operation.
Road building throughout the dis
trict is being resumed. Virginia ha!
allotted Sl2,0O0,000 for roads this year
= Assets Exceed $IO,UUU,OUU.
!. n F. Cellarius, secretary of the
United States League of Local Build
ing 81 Loan Associations, has made
compilation of building and loan as
sociations in the United States with
assets exceeding $10,000,ooo on Decem-
Der 81, 1928.
!, There are now two associations with
assets exceeding 100000 there are
4 in the s40, 900 900 class; in the
$40 900 900 class; Is in the $4,000, 900
class and SO having assets from $780,
100000 to S20,000000.
The District of Columbia Association
Is among these having assets exceeding
$4,000. 600. The growth of these inStl-
buttons in the recent past has been
amazing. From $2,500,000 the asso-
Citations had increased in total resources
to S7.l78,0 100000 by the end of 1927.
Although exact figures are not yet avail
able for 1928, it has been authorita-
lively estimated that the increase last
year was approximately S976,500. 900,
bringing the total building and loan
resources of the country up to 3d.
155, 100000.
Security Loans OF s62,o00,000.
The Federal Reserve Boards condi-
lion statement of weekly reporting MEM
Der banks in 1ol leading cities on March
10 shows an increase for the week OF
500 600 900 in net demand deposits, de-
creases of S16,00o,00 in time deposits,
of sac, O0O, 900 in borrowings and OF So
O0O. 600 in investments, and an increase
of $4,000, 900 in loans.
Loans on securities declined $62 ,O0O,-
GOO during the week, a reduction OF
S112,O0O,0OO at reporting banks IN the
New York district being partly offset by
an increase of S18,000,000 in the Chi
capo district. of S1300O,000 in the San
Francisco district and smaller increases
IN most of the other districts. All
other" loans increased ST. 900, 900 at all
reporting banks. s48,000,0 900 In the New
york district, 100000 in the Phila-
delphia district and 100000 in the
Atlanta district.
Heavy Trading on d. C. Exchange.
Capital Traction opened heavy trad
ing on the Washington Stock Exchange
today, selling ex-dividend at 1894 and
later at 995s, the days sales reaching
1872 shares. Potomac Electric Power z
per cent preferred came out at 1o854
and as shares at 1087s. Twenty shares
of Washington Gas came out at 1l5
and 20 more sold at 1l412.
Riggs National sold at 573A and STA.
American Security 81 Trust moved at
46S and 467 and National Savings 81
Trust appeared on the board at $40.
National Union Fire Insurance Co. came
out at 271k, Title g. Insurance Co. OF
Maryland common at IS and Columbia
Sand & Gravel preferred at 1924.
Twenty shares of District of Columbia
Paper moved at 81. Merchants Trans
O. NJ On 0fad
1879 and 10 shares of the preferred at
ia. Mergenthaler showed much &C
tivity. opening at 10TH, going to Il
and closing at lot, sales reaching 1903
shares. Peoples Drug sold at 125 and
Chevy Chase Dairy preferred at ITO.
There were a number of bond sales at
recent levels.
Attention of the more than $4,000
stockholders in General Motors has been
especially focused on Alfred P. Sloan
jr., president of the company, by the
announcement that he has just on
cluded S30000,0 900 deal in Germany
by which his company gets substantial
interest in the Adam Opel Co., said to
manufacture about As per cent of all
the automobiles produced in Germany
Recent pictures of Mr.. Sloan indicate
that taking the lead in the affairs of q
company as large as General Motors is
far from soft job, burrows in his face
having developed rapidly in the more
recent past.
Heard in Financial District.
c. j. Gockeler, vice president of the
District National Bank and secretary OF
the Washington Stock Exchange, was
showered with congratulations and pos
tai cards today on the occasion of an
other birthday. Chris" is getting
younger every year.
The Federal Trade Commission hao
pending on March / total of 5o4 APP
plications for complaints of variou:
forms of alleged unfair competition
This compares with 588 such applica.
tons on February /.
The midyear open meeting of Wash
ington Chapter, American Institute o,
Banking, takes place next Friday eve
ming. Graduates Of the first semester
course will be awarded certificates anc
the women's committee has planned 6
splendid entertainment.
Gerald c. Brant, jr., has become con-
nected with the new Washington Office
of Harriss g. Vose, the New York bro
erage firm commencing business here
yesterday in the Southern Building.
Louis Rothschild. manager of tn
Washington Better Business Bureau, ha
issued another warning to local in
vestors against crooked promoters. Will
the majority of investments are ION thu
level" he says that just now some par
ticularly strong drives are being mad
to get money from unsuspecting persons
The Federal Reserve Board report
that during the past month more peopl
have been borrowing money from thei
banks, thereby reducing the amount q
funds borrowed from brokers. Tn
March bulletin gives high money rate
and higher margins as the chief rea
sons.
Prices of commodities during tn
week ended March 16 showed a declin
of 0.3 per cent, according to the whole
sale price index of the National Fert
liZer Association. The chief declines OF
Cured in fats and other foods, but 81
rrro,,pS declined While 01lV two &C