Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-12
PRICES HOLD FIRM
On D. c. EXCHANGE
LarSton Goes Higher-Bonds
in Fair Demand-NeW Era
in Banking Predicted.
CY EDWARD c. STONE.

NGtCn SUCK EXcnange yesterday, local
securities closed the week with prices
firm, Lanston Monotype again scored
Gnother new high BY a fractional gain
to 1925.
Capital Tracticn ended the week at
eSai after selling at u, Potomac Elec-
trio power per cent preferred closed
at 1l3, and the only transfer in Wash
jngton Gas took place at 1885. Rail-
way & Electric preferred opened at 81
ana closed 70 higher on a so share
turnover.
Chevy Chase Dairy preferred came
out at l07. Real Estate Mortgage &
Guaranty preferred moved at 7Ss, Sand
& Gravel preferred registered GOA. and
an odd-lot transaction in Merganthaler
Linotype was recorded at 1912. The
usual checking of unlisted securities
showed very few changes in bid and
asked prices. There was considerable
investment buying in the bond division.
City 81 Suburban IS moved at 1913,
Potomac Consolidated SIS changed hands
at lO0lA, small denominations in WASH
ington Gas Is, series A, registered
1925, and the B bonds 103Sa. and
104ls for a, 81 900 bond One of the
closing bond sales was in D. c. Paper
IS at 9415 The week as whole re-
fected growing interest in local
securities.
BANS Report on Earnings.
Two Of New York's oldest banks
First National and Fifth Avenue Bank
which have withstood the extensive
merging activity of the past year
eTcyed the highest earnings OF all New
york and BROOKLYN banks during 1923.
according to an interesting survey OF
banks, trust companies, title ana mort
gage and surety companies prepared ny
Clinton Gilbert, bank stock speclallsG;
First National reported S2l3.44 earned
ror share and Fifth Avenue Sl59. Inc
limited states Trust Co. was hlgneSC
er1ong the trust companies with S159.03.
the National City Bank led IN oe-
,,osits with a total of $1,3l1 ,64l.Ol 1o!-
lowed closely by Chase National WIN
Fl O33 AGA 400 National City also
showed the largest surplus and unol..
vided profits-Slll,246,5o0 Banks and
trust companies lettering the S5OO'OOo,,
ooO mark for deposits were Natlonal
Rank of Commerce, S576, 775,000; Bank
ers Trust. S500.872, 800, and Guaranty
Trust, 1894, 500.
Of Brooklyn banks and trust com
largest deposits of Sl17839,000, while
Kings County Trust earned most per
share-S155.32.
Retail Sales Comparisons.
Comparison of retail sales in Wash
ington stores in March of this year
and March. 1928, shows percentage
increase this year of 81 per cent.
The percentage increase in total sales
since January /. over sales during the
same period in 1923 was 40 per cent.
The percentage in March, 1929. sales
over average March sales during the
three years, 1923-1925, inclusive, was
$50 per cent.
The percentage increase in stock on
hand March 81, 1929, over stock on
February %. 1929, was SIS per cent
The percentage of sales in March,
1929 to the average stock carried dur
ing that month was 31.6 per cent.
The percentage of sales since Janu-
airy l to average stock carried during
each of the three elapsed months was
80 per cent.
The percentage of collections in
March to total accounts receivable on
March l, 1929, was 31.4 per cent.
New Management Era Predicted.
President Craig B. Lakewood of the
A. B. A, makes this forecast on bank
management a subject which is to be
given special attention at the coming
convention of the District Bankers As
ISOLATION:
Gradually we shall all have in bank
ing what we require of our customers
in other lines-control by men with a
genius for management, conSideraG:cSS
Of every essential of the problem, mar
ket analysis, elimination of unprof1t-
able units and wasteful practices, closer
budgetary control, economical and
profitable operation. faster turnover OF
capital, lower costs larger gross and
net profits, and greater 1iquidity with
even greater safety and service.
THE banking business has been
making great progress the past few
years The time is ripe for the ap-
plication of higher and more definite
standards No business has greater re-
sponsibility-none has the right to be
more efficiently managed. BY the CO.
operation of all. the time element in
accomplishing this great achievement
may be minimized."
Dollars and Sense Features.
The leading article in the current
issue of Dollars and Sense is the text
of the speech delivered recently by
Ogden L. Mills, Undersecretary Of the
Treasury before the forum of the
chapter on the subject of Treasury
Bills" Outlines of this interesting talk
have already appeared in local news
columns. Second Assistant Postmaster
General w. Irving Glover contributes
an article on THE United States Air
Mail Service" and The New Currency"
is Interestingly described by Controller
of the Currency j. w. Pole.
"Co-Operation Between Trust OFF,
GERS and Life Underwriters" a subject
now occupying considerable attention
in the banking and trust world, is set
forth under the name of Roger B.
Hull, managing director and general
counsel of the National Association of
Underwriters. and Harold Stonier, edu-
cational director. American Institute
of Banking, contributes an article under
the title Educational Preparation a
Growing Requirement for Success in
Modern Business"
Autos Costly to u. S. Treasury.
The growth in the number of auto
mobiles In the country has contributed
DEFINITELY to the paper currency prob
lem OF the Treasury. The passage of
paper money through the hands of
service stations with unavoidable ac-
cumulation of grease and dirt appre-
ciably decreases the average life of
smaller denomination bills. An expert
ment with dollar bills gives rise to the
estimate that denominations of this
size are spent one time in seven at
automobile service stations.
M0MTuI H0DDEp PED0pT