Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-01-23

Negotiations with ~ M
the Metropolitan -
Club have been $@
under way for @2zz----A2AaNa-a * s1SEai ''sa'a
nearly year. The Georr. A c.rrstt
matter was prac-
tically dropped for a time, but was re-
Gently revived and the contracts have
now been signed. Mr.. Garrett hopes
that the actual opening date will be
March f.
A special entrance is now being made
in the front of the Metropolitan Club
Building which will lead direct to the
brokerage offices. It will be of an at
tractive design and most convenient to
the public The new quarters will con-
Itain a large boardroom and up-to-date
brokerage facilities Of every kind. The
Offices will be convenient for the men,
bers of this old and exclusive club as
well as to outsiders.
The management of the brokerage
house considers the location unusually
FAVORABLE. The nearest brokerage firm
to it will be E. A. Pierce g. Co., in the
Transportation Building. B. F. Keech
& Co will continue to maintain an
Office in the Carlton as at present.
Educational Plans Boosted.
Harold Stonier, national educational
director of the American Institute of
Banking. gave an inSpirational address
before the officers, faculty members,
educational committee and consuls of
Washington Chapter at the Raleigh
Hotel last night. There were just SO
present and high enthusiasm over the
second semester, which opens next
Monday, was manifested.
James A. Soper, chapter president:
A. E. HenZe, educational chairman, and
all the instructors spoke briefly. The
first semester revealed gain of z per
cent in the number of students and
it is hoped that the attendance in the
last half year will show as good an
increase If not better.
The course in negotiable instruments
will be under Raymond B. Dickey,
standard banking under F. j. Donohue
and business forecasting under Walter
H. Dunlap. Banking fundamentals will
again be taught by Eliot H. Thomson,
while Bolitha j. Laws will conduct the
course in commercial law. Type and
analysis of financial statements will
come under William G.. Buchanan, and
Arthur Deering will again have charge
of the course in business English.
Among those present were E. j. Nc
Quade and Y E. Booker, two instructors
during the first half year. There were
many expressions of regret over the
sudden death of B. A. Leavell who had
been one of the institutes most en-
thusiastic and capable instructors.
WI E. Bonded Debt and Taxes.
In his annual report to the stock
holders of the Washington Railway d
Electric Co., President William F. Ham
said:
'fThe total bonded debt of the Wash
ington Railway & Electric Co. and its
subsidiaries, including the Potomac
Electric Power Co., now outstanding
to this the $15,000,000 capital stock
of the parent company, and $1,000. $50
outstanding capital stock of subsidiary
companies, makes the total outstanding
capital at this time of S45,817, 500. This
excludes from outstanding bonds those
purchased for sinking fund and for
temporary investment.
Taxes assessed against our companies
are constantly on the increase During
the year 1928 the amount accrued for
the entire Washington Railway g. Elec-
trio Co.'S system amounted to SLAB
184.7l, of which $940, $500 was against
the power companies, and the balance
against the transit properties These
taxes consist of the per cent gross
earnings or gross receipts tax, Federal
income tax, real estate tax, personal
tax, crossing police tax and certain
licenses
Gravel Stock Is Market Leader.
Columbia Sand & Gravel preferred
furnished the feature on the Washing
ton Stock Exchange today, opening at
"a and climbing to 98la on a turnover
of 85 shares. This is the highest point
reached by the stock for nearly a year.
or since the price war on sand and
gravel was launched here many months
ago.
Washington Gas Light stock came
out at 100 today for the first time.
The stock has been sold at that figure
on the exchange recently and as high
as 125. Today'S transactions on the
big board included only 80 shares.
The new high mark was said to be due
to the efforts of interests outside of
Washington to gain control of the gas
company, it being claimed in some
quarters that such control has already
been obtained
Riggs National sold today at 581 and
q single share OF American Security &
Trust brought ATS. Merchants Trans
Ter q Storage preferred sold at l09
Railway & Electric preferred at 9o3l
and Chestnut Farms Dairy preferred
at 100. Bonds were neglected.
Industrial Bank Elects Officers.
Stockholders in the Industrial Saw.
tngs Bank, Eleventh and U streets
northwest met yesterday for the cleo.
ton OF officers and directors
walter 5. Carter was confirmed al
chairman of the board of directors, w
II. G. Brown as president, John S
Slmms, vice president and treasurer
William A. Bowie, cashier, and Walter
L. Carter, assistant cashier.
The following were appointed di.
rectors: William A. Brown, W. H. c
Brown, Joseph H. Briggs, Walter S. Car.
ter, Louis Saulson, William H. Jackson
John H. SimmS and James H. Wash
ington.
Cleaned in Financial District.
w. w. Spaid received word this morn
ing that H. Parker Willis, professor o
banking at Columbia University, vii
address local bankers at the Willar,
tonight on Money Rates and None
Prospects in the United States" Presi
dent Robert V. Fleming will call tn
meeting to order at 8 o'clock, and sew
eral important reports are to be pre-
scented. 1t is possible that the date an
place of the next convention will ais
be announced.
Announcement was made yesterda
that stockholders of the Christia
Heurich Brewing Co., at their annus
meeting in Alexandria, elected John 4
Schaefer to the board of director
Other directors were reelected as fol
lows Christian Heurich, ST.; Charlie
.IaNOhcaYn 2 IL GannMicnh Christie