Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-03

the exchange at - Mns>.
9125 per share Tor
the first time.
Yesterdays sales I;s,.r waite
totaled go shares.
The situation has aroused more inter-
est locally than the fierce contest now
going on over control of the Standard
Oil Co. of Indiana between John D.
Rockefeller, jr., and Col. Robert
Stewart
Lanston scored another new high on
the local board yesterday, when a sim
gle share sold at 124. Potomac Electric
Power 6 per cent stock was strong at
1l3. and the 51a per cent issue moved
at l09l4. Washington Railway & Elec-
trio preferred sold at 99s4 Railway
common stood at $40 bid. but not Of
fered, after Fridays great advance Of
SS points from the last previous sale.
Federal American National Bank
stock sold at 343., and Union Trust
changed hands at 353 Columbia Sand
e. Gravel preferred made further re-
covery, closing at 9512 Federal-Ame
can Co. common sold at SIS and the
preferred at 103 Mergenthaler closed
the week at l04L4.- Merchants Transfer
81 Storage common came out at 1923
and closed at 1877. Park Savings sold
at So
Bonds were in excellent demand.
Washington Gas IS sold at 102 and the
B bonds at 107. Capital Traction SIS
moved at 102. and Potomac Electric
Consolidated IS at 1921. Gas IS. series
A sold at los. c. g. P. Telephone SIS sold
at par. while one of the late transac-
tions was $4,000 sale in Washington
Gas SIS at 1914 Barber & Ross 615s
r1d =
Speakers on Credit Announced.
Plans for the annual Midwinter ban
gue6 and dance of the Washington As
oCciation of Credit Men, to be held at
the Willard Hotel on February l6 at Z
pm. are nearing completion. according
to announcement made yesterday by r.
Jesse CLANCY, chairman of the COM
mittee in charge, Present indications
are that large; number WILL attend.
Short talks will be made by Frank D.
Rock, president of the National Asso-
citation, and E. Paul Phillips, Eastern
branch manager of the National Asso-
citation. Lister T. Watts. president of
the Washington Association, will pre-
side and John j. Boobar act as toast
master.
The membership of the Washington
Association Is composed of about 125
wholesale houses, iobbers and financial
institutions, the National Association
being, made up of $50 such locals, with
3 total membership of approximately
10000. The association has during re-
cent years been very much interested in
protection against credit fraud and
raised through its members fund of
0ver 81 100000 to fight any fraudulent
BUSINESS. This first effort of thhe asso-
6a k4aa ~ to-
ing the conviction of credit crooks that
the association is planning to- raise in
che near future an additional 81, ESQ, 900
for the purpose.
Stephen I. Miller, formerly educa-
tional director of the American Insti-
tute of Banking, is executive manager
OF the National Association The BAN
qiet committee follows: John N. Auth,
II. T.. BiSselle, Emory Galliher, Mrs. E.
j. Hess, Raymond D. Lewis, John A.
Reilly, Eugene Ruark w. F. Simpson.
James A. Soper. lister T. Watts and
r. Jesse Clancy.
Bank Officers to Meet Here.
The Joint Stock land Bankers Asso-
citation. made up of the officers of the
Federal Land Banks, will hold its an
nual meeting with the Federal Farm
Loan Board on Monday, Tuesday and
Wednesday Several of these bankers
are already in the city. About SO are
expected. -. ~ Ia {
A. w. Hendrick, president of the San
Francisco Joint Stock Land Bank and
vice president of the Bank of Italy, is
McCune of Cleveland. Ohio, is secre-
tary. The meetings take place at the
headquarters of the Farm Loan Board.
The mc rs discussed relate largely
to the inside workings Of these banks,
policies to be followed and the present
and future business outlook.
Bankers Forum Is Postponed.
Chairman I. j. Roberts of the local
Institutes forum committee announced
late yesterday that the meeting plan
ned for next Wednesday evening ct the
Raleigh had been postponed. MIR. Rob-
erts received a telegram yesterday from
Undersecretary of the Treasury Ogden
L. Mills stating that he could not be
present on account Of the death Of his
father He was to have spoken on
Federal Financing"
Washington Bank CIearings Up.
Bank clearings in the United States
for the week ending January 81, as re-
ported to Bradstreet's Journal, aggre-
gated $l3.176,567 ,000 as against Sl3,-
740,O65, 900 last week and $ll,573, 751.-
600 in this week last year. This weeks
total shows a. decrease of Al per cent
from last week, but gain of 1873 per
cent over the like week a year ago.
Washington reported an excellent
gain for the week, clearings toSaling
34,S07 900 against S28,835 900 for the
previous week and an increase Of 40.3
per cent over the corresponding week
.. year ago.
Richmond reported clearings of $46,-
100000 against 2.771 900 in the pre-
vious week and an increase of 10 per
cent over the same week last year.
Baltimore reported a gain over the
previous week but decline of "a per
cent over the corresponding week in
1928
Memory at Least Is Years Long.
H Parker Willis, who addressed
Washington bankers recently on the
money situation, has a memory at
least Is years in length just IS
years ago he made an address before
local bankers at which Charles j. Bell
chairman of the board of the American
Security & Trust Co., sat In the front
row
Il noticed" said Mr.. Willis the other
night, that Mrt sell kept his hand
over his eyer most of the time and