Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-01-14

offered and l0o k4N E
asked. When Wash AA1N1-----------A'--sa 1aA
ington Gas first II. F. Bisselle.
crossed 100 local
market observers accredited its strength
to reports that out-of-town interest
were seeking to obtain control of tn
company through purchase of stock.
Monday trading in other local issue
was also light. Capital Traction opened
the session with 15-share sale at 106 q
the price recently prevailing. Potomac
Electric Power sig per cent preferred
stock opened at 108A for 20 shares ant
closed with 10 shares changing hand
at 1885. Thirty-one shares of Wash
ington Railway & Electric preferred
sold at 99i4. =.
Mergenthaler figured in four small
lot transfers totaling A shares. l
opened at 104 and closed at 1037s
Five shares Of District National Secur
| tiles Co preferred came out at l0l
Bond sales were confined to Capita
Traction IS. The market opened with
$500 bond selling at 1925, followed b.
$4,000 and $4,000 bonds moving at lo5
Two Changes Among Officers.
In connection with the organization
of the official family of the Washington
Loan & Trust Co. for the coming year
Herbert W. Primm, an assistant treas
urer. has been made assistant real estat
officer, while Ralph Endicott was mad
an assistant treasurer in addition to hi
duties as auditor. The complete list o
officers follows:
John B. Larner, president: Andrey
/ Parker, vice president: Harry G. Meem
vice president; Arthur Peter, vice presi
dent and general counsel; Charles II
| Doing, vice president in charge o
branch office; Charles r. Grant, treas
urer; William H. Baden, trust officer
Leonard Marbury, assistant trust officer
| Alfred H. Lawson, real estate officer
Herbert W. Primm, assistant real estate
| officer; James M. Mason, George M
Fisher and Ralph Endicott, assistan
| treaSurerS.
| Ralph Endicott, elected assistan
organization of the auditors section o
the District Bankers Association. TIL;
chairman of this banks board of direc
tors is John Joy Edison. At the annua
meeting last Tuesday one new membeI
was added, A. Chambers Oliphant.
Monetary Crisis Seen.
A monetary crisis during 1929 tx
occur possibly as early as Spring, prob
| ably not later than Fall, is expected BY
| the Brookmile Economic Service. None.
| conditions are now tight because pres,
| sure on reserves Is becoming acute, and
| the Service states, they will remain tigh
| until there has been a general llqulda
ton of bank credit. At present severa
factors are influencing conditions. Re
sources are available to support any ex
pansion of bank credit required by in
j fyxts f11fc hauyoupr will no Qv4iiQ hi
only through increased borrowings b.
| member banks at higher rates. Sever
| strain has already been placed on bank
| ing reserves as evidenced by rates of 81:
per cent on commercial paper and PEI
| cent for stock exchange time money
BisselIe Frequent Essay Winner.
H. T. Bisselle, just elected an assist
ant cashier at the Riggs National Bank
| has been an active member of thu
American Institute of Banking for sew
/ eral years and holds certificates in man.
courses. He has been an outstanding
| figure in the annual essay contec's b.
] the institute under the auspices Oh thu
| District of Columbia Bankers Associa'
ton, having won first prize in 1925
| 1927 and 1928. These Essays are writer
on banking subjects assigned by TIT
/ association for the purpose of stimulat
| ing research in connection with curren
! banking problems. Contestants winning
| the first. second and third prizes are re-
warded by being sent to the annual con
vention OF the association as the guest
of the association.
Mr.. B.sselle was born in Washington
January q, 1900, and attended the loca
| public schools and after graduatint
from Central High School, ATTENDED
| To l1irntnY IT1iNnrcifU He T.
married and resides at 4458 Reservoir
road.
Business Shows Improvement.
Business and industry are swinging
back into the rapid stride which wa
so evident before the holiday and in
ventory-taking periods interrupted II
1t is to be noted that not all lines hay
| advanced simultaneously, but, never
theless, in such important industries a
iron and steel, copper, automobll
manufacturing, implement and toe
construction and in the coal trade
there has been very sharp and un
mistakable upturn during the last !
days, with substantial increases il
employment in the key cities OF thes
industries.
Reports by telegraph from the Fed
| eIdl tSGSSIk6 Va tllC COulASA
indicate that business generally has &c
away to a good start in January, say
the New York Times. Employment
on the increase in practically all c
them, and it may be said, general!
that these reports reflect state {
trade moderately more active than
this time last year and with especial
good results in such important district
as Chicago, st. Louis, Cleveland an
Philadelphia. The sum total of reta
trade in 1923 in a few sections of tn
country is shown to have fallen belo
that of 1927, but by small fractions.
In the Richmond Federal Reserve dis
| trict mail order houses report large
sales. New England reports speedin
up of the shoe factories, Philadelphi
notes normal retail trade, and Altar
4 ia reports construction holding up wei
| Sales are improving in Chicago.
/ Heard in Financial District.
\ William w. Hoxton, chairman of tt
Il board of directors and Federal Reser,
4 agent of the Federal Reserve Bank {
H Richmond, was a recent visitors at tf
II Federal National Bank. job
h Poole, president of the bank, was RI
\ Gently elected member of the FEEDER
II Advisory Council of the Federal r,
II serve Board to represent the fifth Fec
Il eral Reserve district. In this capacit
\ Mr.. Poole will be associated with son
Il of Americas most distinguish
H bankers.
II President Joseph T. Exnicious h:
H issued statement showing the cor
II dition of the Departmental Bank
II the close of 1925, 1927 and 1928. I'll
II report shows substantial growth in 6
departments. Deposits in 1926 amour
II ed to $619,20414, in 1927 they had riss
to $848, l72.42 and on December 8
1928, they stotaled $1,147,42212 Du
ing the three years surplus was II
II creased and undivided profits we
H about doubled, now standing at $2s