Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-04-05

district,
The program. which is a one-day al
Fir and includes an important moo
1ncheon, will include an annual re
,,ort from Chairman Mckee and othe
chcials of the association, annual re
ports from the Federal Reserve Ban
CT Richmond and discussions on an
matters that may be considered of vita
concern to the association.
This years meeting is expected to b
unusually interesting, as the presen
loney situation is almost sure to b
5.Fen informal discussion. However, a
re stockholders are really the guest
- the Richmond Reserve Bank, what
cr discussion takes place is likely {
: highly conservative.
No doubt Washington will send
-'od-sized delegation. With Mr.. Nc
&c. Those already expecting to attent
,-lude Victor B. Deyber, president @
re Second National Bank and forme
,airman of the association; Johl
cole, president, and w. j. Waller, vic
resident of the Federal-American Ma
t:onal Bank. and j. Frank White
esther of the National Bank of Wash
;rgton. C. E. Tiffany, a WarrentoI
F"nker. is president of the association
oout 200 bankers attended the session
st year.
Urges Investment Caution.
IN talk over the radio last nigh
~. H. Aylesworth. president of the Ma
t'"nal Broadcasting Co.. emphasized tn
-lportant part newspapers are playing
: guiding the new investment publi
itch has risen in recent years. HI
no ~ Of he la r1
'~ups of newspapers as saying that thu
rgest increases in the budgets of hi
-wspapers for the coming year woult
;se from the greater use of space TO
e~'ancial news. This increase was nee
--4ry because the manager felt every
l,-Tv was interested in investing.
Commenting on the need for invest
INT counsel and sound advice from al
~vthwhile channels. Mr.. Ayleswortf
r~inted out that while nearly everybody
as dabbling in what they thought were
'restments, 90 per cent of the people
--'1o have suddenly taken an interest II
lance know very little about it. many
20 them not even distinguishing the
''7damental difference between specu-
lion and investment.
How Southern Stock Is Held.
speaking of the investment status Of
F-lthern Railway stock, Fairfax Harri'
-, president of the road, said in hi:
3~nual report:
There has been a steady flow o.
-'ithern stock from the market place
the strong boxes of investors. During
- past five years the total number OF
ares registered in the names of stock
nSerape firms has decreased more
IN so per cent, there being now only
D 900 shares in street names out OF
total issue of 1895, 200 shares. Last
ar the names of 1904 individuals were
-'ded to the stock list. the average
l-7ldi1g of these new stockholders being
~ shares. 1t is significant. and to the
r-anagement particularly gratifying, that
> substantial part of this increase was
y residents of the States served by
~-uthern Railway system lines, a COM
r>Inity which has only begun to invest
= industry of a national scope during
tie past decade"
Local Stock Market Quiet.
Barber & Ross common led trading
~ the Washington Stock Exchange
t9iay. when transactions were In only
..,oderate proportions. This stock sold
+, rs. rs and 100 share blocks at 90.
Columbia Sand & Gravel preferred
VS. rather weak today. opening with a
lie of 10 shares at GIL and closing
TIL another 10-share sale at 81 IS. Ten
.',ares Of Washington Gas Light stock
c-ne out at 1l01z. Chevy Chase Dairy
deferred appeared on the board at
1884. and 10 shares of Merchants
transfer 81 Storage common sold at 1917
Potomac Electric Power per cent
referred changed hands at 111M. with
TIE So per cent issue moving at 10134
= of Mergenthaler Linotype at 107h
md 80 of Terminal Refrigerating &
'-Tsrehousing Corporation at 81, same
IS Yesterdays close.
Both Security Storage and Federal
: torage are now being quoted ex-divideno
= ong with National Metropolitan, Riggs
: merican Security & Trust, Union
rust and American Telephone.
Acacia Reports Good Month.
A notable month-to-month increase
E, the business done by the Acacia
: -ntual Life Association since the flrst
~ the wear is revealed in figures for
; arch made available at headquarters
= are. Gross business written during
rferch was $5.000.o00. which. wher
compared with the figures for February
nd January, indicates a 40 per cent
rim. The net gain for March was
: ) SOC, 900.
President william Montgomery has
inst returned from a business trip
through the South, which brought him
into close contact with the field staff in
t:lat territory.
Heard in Financial District.
president Robert v. Fleming of the
district Bankers Association and How
ord Moran. representing the savings
hang section of the association. are pre-
raring to attend the Spring meeting Of
the executive council of the American
Bankers Association at Biloxi, Miss.
April Is to 10.
Luther E. Schreiner, vice president
and manager of the Dupont Branch
of the Merchants Bank & Trust Co., Is
suffering with a mild attack of pneu-
nioria. Mr.. Schreiner has held hi;
present position for many years and
has been active in the affairs OF the
bankers association.
The McCrory Stores Co. has declared
the regular quarterly dividend OF $f.5o
per share on preferred stock. payable
May / to stock of record April 20.
The next meeting of the. fiduciary
section of the bankers association VII
take place On April II.
r. w. Woolworth March sales totalec
s24. 52S.483, an increase Of 1913 per cent
over the same period year ago. Three
months sales show an increase Of 81
per cent.
r. & w. Grand 5-1O-25-cent store
Gales In March made gain Of 81 pei
cent over the corresponding period In
1928.
Railroad Election Date Set.
The annual election of the Pennsyl-
vania Railroad Co. win be held April %
when three directors to serve for tern
Of four years will be elected. Directors
whose terms expire April %. 1929, arc
Howard Heinz, John T. Dorrance ant
r. 3. Mellon.