Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-15

very slow down. ZS2
ward trend for ". Kurtz wimsats
some time,
Bank stocks were quite active on til
exchange today. Riggs National opene
at SIS and closed at 572 on a 30-shar
turnover. Ten shares of National Saw
ings & Trust sold at $40, same at tn
last price. Bank of Bethesda again ap
peared on the board opening at 81 ]
and closing at 82ls
Other stocks were around recen
levels. Potomac Electric Power 5l2 pc
cent preferred came out at 1087s. San
& Gravel preferred sold at 93ls and 9:
Merchants Transfer g. Storage common
at 1872 and 131, while the company
preferred stock moved at 113. Mergen
thaler registered 107la. There were sew
eral transfers in the bond market q
recent levels.
Another Local Broker Office.
That Washington's financial distric
Is expanding steadily is again shown
today in the announcement that tn
New York Stock Exchange firm of Har
Southern Building next Monday, il
charge of E. Jackson Enrich and Nc
Elroy Moss. A department exclusivel,
for women will be in charge of Mis-
Resale H. Dill, who has been con
nected with Hartman & Co. for sew
eral years. She will act in advisor,
capacity to the firms woman customers
The joint managers of the offices art
well known in the financial district
MFR. Enrich has been associated with
G. M. p. Murphy & Co. in the Washing.
ton offices for the past two years. HI
is member of the Washington STOCK
Exchange and was formerly treasurer
OF the Merchants Bank g. Trust Co.
Mr.. Moss is the son OF Judge McKen.
Eie Moss of the United States Court oil
Claims, and has been connected with
the local Office of Eastman, Dillon &
Co. about a year or more. Previous tc
!. moving to the Capital he was connected
with the Chicago Offices of E. H. Rollins
/ & Sons.
The new Offices are those occupied by
the International Bank before its recent
removal to Jackson place.
Mellon Wins Hearty Praise.
All the bond house managers and
] statesmen in Washington were loud in
their praises today of the pronounce
inent which Secretary Mellon made yes
terday regarding the present ACCESSIBILITY
of buying bonds. While the Treasury
Secretary was careful to state that there
are many sound stocks available for pur.
chase, he said that it appeared al
present to be easier to select SOUND
bonds than stocks.
Bond men started out this morning
with their pockets filled with clippings
giving Mr.. MELONS views. They believe
the Secretary's opinion will help the
bond market all over the country, as
the interview was dispatched every
where. Easier money will surely mean
q substantial advance in bonds, they
assert. Some Of the city's most con-
I sentative bankers, who have for years
favored bonds in preference to stocks,
!. were also referring to the Secretary S
statement as unusually interesting. The
fact that it came just at the time OF
. the new Government bond offering
made no difference In their estimate OF
its Importance.
Secretary Mellon announces today
that total subscriptions received on
offering of Treasury certificates March
Is amounted to $524, 100 900, of which
allotments were made totaling $475, 1893,
500 OF the allotments $32, 796, 500 were
on exchange for maturing certificates.
Smith Company Pays Dividend.
Tire F. H. Smith Co. announces The
dend of $375 per share on its 'outstand.
Ing ~ per cent cumulative preferred
stock and $3.50 per share on its out
standing Z per cent cumulative pre-
4 ferred stock. The books which CLOSED
March will reopen March Is.
!, Takes Place on Bank Board.
w. Kurtz Wimsatt has taken his
place on the board of directors of the
National Metropolitan, to which ne wa:
elected earlier in the week. AS pre-.
! viously stated, he takes the chair left
vacant by the death of his father VIII.
liam A. Wimsatt, who was one of the
banks directors between 80 and AZ
years. The new director is first vict
president of the johnson & Wiinsati
Co, one of the city's leading wholesale
] lumber firms.
Insurance Gains Reported.
New life insurance written by United
States companies during February wa
four-tenths of per cent greater than ir
] February, 1923, and new insurance dur
Ing she first two months of this veal
: was 8 per cent greater thar during
( the corresponding period of last year
according to Association of Life In.
/ surance Presidents. Figures are re-
ceived from Al member companies
{ which have 80 per cent of the tota
volume Of life insurance outstanding II
! all United States legal reserve COM
! panies.
For the two-month period the tota
/ new business of these companies wa.
s 1897, 526.o0O this year, against $l,s32,.
/ $4,000 last year.
i Financial District Gleanings.
/ Cdlston, Head g. Trail. with an offic,
In the Woodward Building, are offer
+ ing 100000 shares of Glass A common
| stock of the Insuranshares Corporation
/ of Delaware, priced at 217s per share
1 Application is to be made to list thu
/ stock on the Boston Stock Exchang
i and the New York Curb.
/ Swift & Co. has called IS ,0000 900 o
! the s37. 900, 900 10-year gold notes nov
] outstanding. These notes were issuet
/ October 16. 1922, and due october Is
I 1882. The notes are called for pay
/ merit April Is. 1929. at par and accrue'
Z, interest, plus a premium OF l per cent
- c. & o. Plans Expansion.
i The eastern section of Pike County
KY. bordering Virginia and especiall
! the Levisa Fork and Johns Creek ter
ritory, are in the limelight with TIL
early possibility of railroad extension
1 by the Chesapeake IL Ohio Railwa
opening up almost virgin fields of hard
wood timber and extensively rich, un
developed coal areas. Engineers ar
making the preliminary surveys. A
3 the same time Chesapeak 81 Ohio Off
IS Gals are getting into readiness to begil
obtaining rights-of-way for the ne'
lines.