Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-09-29
BROKERAGE HOUSE
EXTENDS OFFICES
G. Mp. Murphy & Co. Pro-
vides More Space for
Its Customers.
BY EDWARD C. STONE.

Announcement is made by G.. Mp.
York Stock Exchange, of the extern
sion Of their downtown Office to in
clude the entire main floor of 1910 H
street. This will give the firm extensive
quarters in its downtown Office, as we'll
as its uptown Office, located at Con-
necticut avenue and K street. The new
Office, which directly adioins and has
been connected with the old space in
the Glover & Flather Building at
1903 II street, will contain the private
Offices of Robert c. Jones and Charles
Carroll Morgan, also the investment
department, the library. consultation
rooms and the cashiers department.
The library, which will occupy a large
space in the front of the building, rep
resents the firms desire to offer its
clients and friends in Washington, an
attractive place wherein they may get
any financial information they desire
It will be under the supervision of
Lewis H. Craven. head Of the statistical
department, who has recently come
from the New York Office to join the
organization.
The present board room will be en-
larged to include curb board. on
which New York Curb stock quotations
will be displayed. The present bal
cony in this room, formerly used by
the investment department. has been
converted into four private trading
rooms which overlook the board room
proper and from which the transluX
ticker and the board quotations can be
easily read.
In the downtown Office Mr.. Jones and
Mr.. Morgan will be assisted by John
E. Parker, Joseph N. Thompson. Will
liam v. Freeman and August Schmidt
In the Connecticut avenue Office, A.
Chester Flather has on his staff E. r.
Finkenstaedt, Benjamin w. Theron,
Kenneth Murray and Lawrence Leeby
Several members of the firm will ar
rive in Washington tomorrow to assist
the firms local managers in the OPEN
ing of the new Office. The Offices have
until recently been occupied by the
Southern Railway Co. On completion
of the Southern Railway Building on K
street the ticket department was moved
there. The brokerage firm has been in
business here for years. having bought
out John L. Edwards & Co., following
the death Of the head of that firm.
Fall Business Gains Forecast.
In discussing the business situation
at glance the United Business Service
OF Boston. said yesterday:
Although some authorities on the
business situation are switching from a
bullish to a semi-bearish position, it is
hard to see how this attitude can be JUS
titled by the following facts: Cd both
bank debts and industrial production
are at or near peak levels for all time;
90 American business is including the
most satisfactory third quarter in his
tory; 90 out of 40 different divisions
of industry only about six are failing
rpOiSfpr ir1nrOVprn0nfc' nf
the major branches of industry are
entering the Fall with a substantial
backlog Of untitled orders. Although
the outlook for business beyond Deem
Der is still rather uncertain, in view of
the favorable current trend and the
foregoing facts, we see no reason to
change our previous forecast that bust
ness in october and November will
continue to outStrip its record of last
year"
New Investment Firm Organized.
Edward j. Walsh, Washington man.
ager of the Northwestern National Life
Insurance Co. and Joseph G. Sheehy, a
member of the District of Columbia
bar. yesterday announced the forma-
ton of partnership under the name of
E. j. Walsh & Co.
The new firm will deal in invest
ment securities, with Offices at 1906
K street northwest, on the ground floor
of the new Southern Railway Building.
They will begin financial operations on
Tuesday.
In handling investment securities, the
company will be correspondents of w.
r. K. Taylor & Co., 40 Wall Street, New
York. Wr. Walsh has wide business
acquaintance in the city and Mr..
Sheehy was at one time associated in
the practice of law with Frank j. Ho-
gan.
Price Declines Exceed Advances.
In commodities, as In stocks, the
present week was marked by an excess
of declines. The easing in wholesale
quotations, however was By no means
general, although in Dun'S list 80 OF
total of SIS changes were in down.
ward direction. That margin of reduc-
tions was considerably wioer than was
witnessed last week, and it contrasted
with a slight upward trend year ago.
One of the reasons for the surplus OF
declines this week was the pressure
against prices for hides, in which
number of concessions appeared, and
some of the metals moved to lower
level.
On the other hand, most commodities
apart from foodstulfS were fairly
steady, and cotton goods derived sup
port from the higher cost Of the raw
material. The latter was influenced by
q large demand from spot interests,
while rains in some sections of the belt
also had a bullish effect.
Bank Women Attend Convention.
Thu greatest event of the year in
banking circles starts tomorrow when
the American Bankers Association
opens the annual convention. While
this big meeting is in progress the As
ISOLATION of Bank Women will also meet
at San Francisco.
Word has come to the Washington
Bank Womens Club that approximate
~ 300 woman bank executives from "a
States will be present. The first SeS-
sion will be presided over by Miss Nina
M Bruere. assistant secretary of the
Hanover Bank 81 Trust Co., of New
York, president of the association.
Woman bank executives have made
rapid progress in the financial field in
recent years They are generally in
charge of the women's departments of
banks, often holding the title of as
sistart secretary or assistant treasurer.
Many have been instrumental in en-
larging the holdings of their sex in
stocks and bonds. The last report of
the American Telephone 81 Telegraph
Co showed that women now control so
per cent of the stock of that company
and they have long held more than
half of the stock in the Pennsylvania
Railroad.
Daylight Saving Schedule Ends.
Quotation service in all the broker
houses in this city will start at 10 am.
tomorrow, an hour later than during
A.. C,,,,a,,aar IN o0eAily1f Nf tho ending