The Washington herald., 1929-11-02
CLERKS LABOR
AS BROKERAGE
OFFICES CLOSE
Washington Houses Attempt
to Catch Up With Details
of Weeks Heavy Trading
By RICHARD HATTON


OCAL board rooms and broker.
age offices were deserted yes
terday owing to the closing of
the New York Stock Exchange.
The quiet atmosphere in the
financial district was in noticeable
contrast to the activities of the past
few days. However, there was no
rest for the personnel of the offices
and behind the scenes clerks and
bookkeepers weer as busy as ever
over the great mass Of detail ac-
cumulated during the heavy trading
that marked the beginning of the
week.
While the volume of transactions
during recent days has been tire.
mendous, far greater than ever be-
fore handled in Washington, broker
organizations. from long experience
and co-ordinated consideration for
detail supplemented by trained ex-
ecutive direction, handled the great
volume Of extra work in highly
efficient manner. With the present
two-day holiday and the extra holi-
day next Tuesday, when the New
York Exchange will be closed
again, 1t is believed that the middle
of next week will find the details
of recent transactions we'll in hand.
Executives of local offices. who
have been almost worn out by the
long continued strain, yesterday
were giving ungrudging praise to
their staffs. which carried on dur
ing the long hours of especially
heavy trading and then worked
long hours of overtime to keep up
with the volume of business.
The Washington Stock Exchange
Is conforming to the action taken
by the New York Exchange and
will be closed today and next
Tuesday.
Announcement was made yester-
day that A. We're Shaw. of Boston,
member of the firm of Shaw, Loomis
& sayles, investment counseliors,
of New York and Boston, will talk
on Current Investment Trends j" on
Monday morning, November 4. at
1890 at the Mayflower Hotel. Inc
talk liz under the auspices OF the
Continental Trust Company and Mr..
Shaw will speak in lieu OF James
Westerfield, whose illness necesslt'
ates the postponement OF his scheo'
uled address.
This is the first of a series OF
lectures sponsored by the Continent
tai Trust Company for the oenetlt
of women who desire to know more
about investments and how 70
differentiate between the good ano
the bad. -.
The increased prominence oi
women in the business and invest
ment field since the war has oeen
marked and it is authoritatlVely
estimated that $4,000 women are
| now working for pay in the unlteo
states: that taxes on more than
three and one-quarter billion dohafs
of individual income are PAID oy
| women; that women receive 80 per
| cent of estates left by men and d
per cent of estates left by women.
To a large extent this great multi
tude is more or less ignorant in the
matter of handling business ana III
yestment and 1t is In order to meet
demand for necessary Information
| that Wade H. Cooper, president OF
| the Continental Trust Company. Il
arranging the present series Of in
formative talks.
Wilmer ]. Waller, president Of the
District of Columbia Bankers Asso
citation, will address the luncheon
meeting of the Advertising Club O
Washington Tuesday, taking Cor hi!
subject, Strike Up the Band. Here
Comes Santa Claus" The meeting
will be held at the National Press
Club at 1890.
Congratulations and floral tributes
were showered upon the Park sav
ings Bank yesterday on the occa
sion Of its twentieth birthday. Incl
dentaily, the directors of the banl
have declared an extra per cen
dividend payable November 10. Th,
Park Savings Bank was organized
in 1909 and on the opening day hat
deposits of $S2, 2,278. Its development
Is indicated by the report made Il
the Treasury Department in re
sponse to call for statement Of condi
ton as of October 4 this year, which
showed deposits of $3,6S4,S2S.
| 81
Members Of the fiduciaries' section
of the District of Columbia Bankers
Association will be called togethe
in the near future to conside
changes in the bylaws of the sec
tion which will bring them into con
formity with the bylaws of the othe
! two new sections.