Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-07-18

time, but recently
has become far more active in finan-
cial circles.
Today's election gives the firm two
memberships on the exchange, as
Frank B. Pryor, associated with the
same company. also holds seat ano
is one of the most regular attendants
at the regular sessions.
Bonds Again Draw Attention.
Bonds were again quite popular on
the local Stock Exchange today, the
largest single transaction being in Po-
tomac Electric Power 6s at 100. Wash
ington Railway q Electric IS soio ~
86 and 857s, Washington Gas SIS came
out at 1Ol, while Gas A bonds moved
at l02 and 1O1, and the Gas B issue at
1O45a in small denominations.
Capital Traction stock sold to the
extent of 80 shares at 95A4, Railway
preferred again sold at SO. while Poto-
mac Electric Power 512 per cent pre-
ferred changed hands at 1885 and 1OS
Federal American National Bank sold
at 1872, and Riggs National at 573
Merchants Bank u Trust came out al
$50.
Columbia Sand & Gravel sold at
3d.. Federal American Co. common al
47l4, Federal Storage preferred at lib
and Merchants Transfer & Storage pre-
ferred at 1061s. Mergenthaler in very
light trading moved at 1o47s, single
at 1917 and the market closed with
30 shares of Real Estate Mortgage &
Guarantee preferred selling at 73s.
Firm Passes Third Anniversary.
The investment banking firm of Y
E. Booker g. Co has just passed Its
third anniversary, having opened for
business on July Is, 1925 through a
partnership formed by Yelveton E
Booker and George Hewitt Myers. Dur
ing the past year Harry w. Finney, who
had been with the firm since 1t started
was taken into the partnership.
Y E. Booker, head of the firm, holds
membership in the Washington Stock
Exchange, and Myles H. Quail. aSso-
ciated with the firm for the past three
years also obtained a seat on the eX-
change during the present year
Mr. Booker was elected a director in
the District of Columbia Paper Co. at
the annual meeting several months ago
Before he started his present success
full career in the financial district, Mr.
Booker was financial editor of the
Washington Post.
Second Nationals Growth Steady.
The Second National Bank is dis
a
showing the institutions growth during
the past 10 years. The figures reveal
that the bank has more than doubled
deposits in that time.
On June 80, 1919, the controllers call
found deposits standing at $3,lll.-
1871: five years later, on June 80,
1924. the banks deposits had risen to
$5,145443s3, while the end of the next
fiye-year period and the date OF the
last bank call, June 90 1929, deposits
had increased to $6,616 .488.09.
The folder also states that capital,
surplus and undivided profits on June
80 1919, amounted to 6l,250.55: on
June 80, 1924, to $857,935.73. and on
the date of the last call to $3.50, 1856. 80.
The banks officials are much gratified
with the healthy growth shown. To
the president, Victor B. Deyber, and his
associates. the directors are giving full
credit. The Second National was or
Fanized on July "a, 1872.
Insurance Output Shows Gain.
In the first six months of this year
new life insurance production was 4,8
per cent greater than in the CORE
spending period OF 1928; AS compiled
by the Association of Life Insurance
Presidents, the report combines the
records of new life insurance produc-
ton of A. member companies having
81 per cent Of the total life insurance
in all United States legal reserve COM
panies. exclusive of revivals, increases
and dividend additions.
For the first half of this year new
ordinary insurance amounted to $4,-
519,341 900, against $4,241 ,003, 900 in the
1928 period, a gain of sc per cent
New industrial insurance was $3.50
SAT 900, against 81 ,423, 043 900, a gain
of 81 per cent. New group insurance
was $510711 900, against $577,245, 900, a
decrease of lis per cent. The total
written in the first six months of 1929
was $3.50 500 900, against $6.241 POI 600
in the 1928 period, an increase of 4s
per cent.
Mellon Reports on Note Offers.
Secretary Mellon has announced that
tenders aggregating $75,869, 450 have
been received at the Federal Reserve
Banks, all of which have been accepted
by the Treasury. This is in connection
with the offer made July IL to pur-
chase $75,000,000 aggregate face
amount of 3l2 per cent Treasury notes
of series A 1930-32 at option of the
holders for account of the cumulative
sinking fund.
The offer closed Tuesday night. Pay.
ment for the notes rendered will bt
made at once at SO and accrued in.
tereSt from March Is.
Heard in Financial District.
The American Stores Co., which own
the former Old Dutch Market stores II
this city, has decreased the regular
dividend of SO cents per share payable
october / on stock of record Septem
Der IA.
Total resources of District of Colum
bia banks at the close of business jun
o. last call date. were 1881 1877, 600, tn
most recent abstract of the Office o
Controller of the Currency Pole re
veals. This was a decrease of $4,000
from those of March 81, last call date
but an increase of $5,359,000 abov
those of AZ banks of June 80, 1928.
Resources of the seven trust com
panies totaled $ll0, 622 900: those o
the % savings banks, 1883, 900, an
those of the IL national banks, $l73,
$4,000.
william John Eynon, director OF tn
Federal-American National Bank,
spending some of the hot weather day
at the seaside at Spring Lake, N. J.
Five nearby States have been aSsigne
to T. Hunton Leith, assistant cashier Sc
curity Savings & Commercial Bank, TO
his supervision as member OF the execu
tive council Of the American Institute @
Banking, to which position ne wa
elected at the national convention {
the institute In Tulsa, Okla, last JUNE
r. Golden Donaldson, president OF tn
Commercial National Bank, Is returnin
today after making cruise from Me-
York to Boston on the steamship Levia
than as a guest of the United State
Lines.
J. Edgar Probyn of Probyn & G.
has opened an office in the Evan
Building as correspondent of w, e. WI
hard Il Co. Inc. of New York.