The Washington times., 1929-08-21
FIRMS
B0OST,PRICE !.
Of STOCKS

Investment trusts and holding
companies are getting increased. at.
tenticn in financial circles. This Is
said to be due to the appeal they
make from q direct Investment and
speculative standpoint and from the
important position they occupy in
connection with group trends In the
stock market.
IT IL claimed that the influence
these organizations exert on the
market was shown in the upward
movement that developed I'm power
stocks when several companies were
formed to specialize in that group.
Form 500 Trusts
There are already about 500 In
vestment trusts and holding COM
paniesN Of a similar nature In the
: country that have been formed with
In the past 10 years. Their forma-
ton was necessary. it Is claimed, be-
cause of the increase Of the wealth
of the United States, due to the
World War. This wealth created
the need. 1t is stated.
Strict rules Of the New York
Stock Exchange are complied with
by the trusts and holding COM
panies In order to secure hstings
on that market.
Get Bank Backing
Some of the largest and oldest
banking houses in the country are
sponsoring the larger enterprises.
and 1t is said that the hackers
have made big profits out OF the
bull market.
The corporations are similar to
the investment trusts and like con-
Germs in England. 1t is shown,
however, that the ones in America,
in q larger proportion. are more
speculative than those abroad.
A quarterly dividend Of $1.25 a
share and an extra dividend of SO
cents per share, payable September
so to stockholders OF record Sep
TENDER 3 is to be paid by the Mer-
genthaler Linotype Company of
New York.
Frederick D. McKenna and Ed.
ward J, McQuade are the local direc.
tors Of the company.
The announcement shows that
there will be 81 per share in divi.
dends payable for the fiscal year
Of the company, or an equivalent
on the old stock of $14 share.
Earnings were reported for the
also had encouraging foreign bust
ness, it was learned.
At the regular meeting of the
board of trustees of the Equitable
Trust Company, of New York, held
yesterday. Ia quarterly dividend of
per cent was declared payable
September 30 to stockholders of
record September IA.
John r. Harper, 70-year-old or
ganizer OF the Colonial Mortgage
Investment CO., Baltimore. died yes
terday at his home in Baltimore,
according to word received here to-
day. Mr.. Harper was we'll known
here as well as in Baltimore and
had host of friends in local fl
nancial circles.
He was instrumental in founding
the Colonial National Bank of
Cleveland, Ohio, which later merged
with the Union National Bank. He
had been i'll for only a few days.
Two sons survive, him.
The annual golf tournament of
Washington Chapter, American In
stitute of Banking, began yester-
day at the East Potomac Park
municipal links, Three prizes are
offered, the first prize being a
silver cup. The four best scorers
will represent the local chapter in
a match against one representing
the Baltimore chapter.
Play in the local meet will con.
tinue through until Friday. H. F..
Kimball, of the American Security
and Trust Company, chairman of
the athletic committee of the chap
ter, has charge Of the meet. There
are % entries in the play and no
handicaps.