Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-20

Gwilym A. Price 1112s''1'-- a'1'zs2AAss
trust officer of the W. w. SPAID.
Peoples Savings &
Trust Co. of Pittsburgh. will deliver the
principal address. discussing generaly
the subject Life Insurance Trusts.
Ee has had much experience in this
work and his record in Pittsburgh In
educating the public on this subject has
been unusual. .,.
William A. Montgomery, president OF
the Acacia Mutual Life Insurance AS
ISOLATION. and Harold D. Kraft. the
new president of the District of Column
bia Life Underwriters Association, VIII
also speak.
an the DEVELOPMENT of the life insurance
trust business since the formation OF
this section last year, and likewise the
interest of the life insurance men mas
been so evidenced through the WORK Oh
the life insurance trust committee OF
which T. Stanley Holland, assistant
trust oficer of the American security
81 Trust Co. is chairman
THE president of the bankers asso-
citation. Robert v. Fleming, and other
of1cers will be present. Other invited
C1Iests are Earl D. Krewson, chairman
Of the life insurance trust committee Oh
the District of Columbia Underwriters
Association: Robertson Griswold, preSl-
dent of the Corporate F1ducarles AsSo-
citation of Baltimore City. and MISS
Grace M. Bromley. assistant secretary
Of the local association.
Spaid Elected Association Official.
w w. Spaid. member of the broker
age firm of w B. Hibbs & Co., has just
been elected vice president OF the Asso-
citation of New York Stock Exchange
Firms. Mr.. Spaid's selection for TINS
office is regarded here as deserved
and distinguished honor and is one sell
dom bestowed upon any one other than
a New York broker. The Washington
broker. however. won the distinction by
service as chairman of the executive
council of the out-of-town section OF
the Association of New York Stock Elk
change Firms and as a member OF the
board of governors. In helping TO get
this organization on solid founoatlon
he attended many sectional meetings all
over the East
II is of interest to note that w. B.
Hibbs. founder and senior partner OF
the firm. was the first out-of-town
broker ever elected to the board OF
governors of the parent association.
Mr.. Spaid has made an enviable repu-
tation in both the local and national
financial fields. Born near Pleasant
City, Ohio, in $780, he came to Wash
entered the employ of the HibbS or
ganization, being admitted to partner
ship in 1912. He Is q graduate in Law
and a member of the District of Co
lurnbia Bar Association, also a gradu-
ate Of the American Institute OF Bank
ing and was president of washington
Chapter in 1914.
In 1918 he was elected president of
the Dupont National Bank. holding the
fwr 81 60 hi hVn lyaV oeyn
connection until 1922, when the bank
was taken over by the Merchants Bank
& Trust Co. Mr.. Spaid was president
Of the District of Columbia Bankers
Association in 1926, after having held
many other important Offices and COM
nittee assignments.
Sauter Goes With GiIIet & Co.
Announcement was made today by
Gillet & Co., Baltimore bankers, that
Elmer F. Sauter has become associated
with them In their Washington Office.
Mr.. Sauter has been with Dillon Read
81 Co. for the past 10 years. prior to
which he was with the National City
Co. for 2 years and the Riggs National
Bank Of Washington for Z years.
Mr.. Sauter has an unusually wide
acquaintance in local financial circles
through his varied activities.
Bonds Attract Market Interest.
Bonds attracted the most interest on
the Washington Stock Exchange today
when the weeks trading began.
Washington Gas 6s, Series A, sold
IN $1,100, $500 and $4,000 denomina-
tons at 1921 Two 81, 900 transactions
we're recorded in Potomac Electric Pow
cr Consolidated IS at 102. and $4,000
End 81, 900 Washington Railway 81 Elec-
- \r aI,A dc at
trading closed with Anacostia g. Poto-
mac r. r. IS selling at 95.
On the stock side Capital Traction
'old in two very small lots at &c. Poto-
nae Electric Power sig per cent pre-
erred sold ex dividend to the extent
If 80 shares at 1862. Riggs National
5ank stock came out at SIT. and the
market closed with 20 shares of Wood
lard & Lothrop preferred selling at
OF.
In addition to the Potomac Electric
lower and Washington Railway q Elec-
rio issues, Lanston Monotype is now
being quoted ex dividend.
Cleaned in Financial District.
John B. Larner, president of the
Washington Loan g. Trust Co, who has
'1sen confined at George Washington
hospital for several weeks with an in
ured knee, was able to return home
Iaturday. Mr.. Larner is able to walk
nd has made such an excellent re-
overy that he Is expected back at the
',ank by June /.
Rapid increase in the volume Of funds
administered by trust companies as
duciarieS, trend which is nationwide
shown in reports of leading trust
ompanies of New England made public
oday In Boston the eight largest
rust companies had in their trust
528,478929 on March 27 1929. which
ompared with $433, 300, 965 on February
8, 1923: 1921 .343,833 on April 6, 1925
for six trust companies), and but
75,743,239 on November 10, 1915 fol
i've companies).
Eastern trunk lines have asked Inter
ate Commerce Commission permission
put into effect, on one days notice
nergency rate reductions amounting
- 3.33 cents per 100 pounds on wheat
our shipments from Lake Erie port:
} Atlantic seaboard.
Subject to Service Charge.
Eighteenth century banking in the
nglish provinces was carried on as
define by grocers, tailors, diapers anc
her trade groups. In those days,
US Sir D. Drummond Fraser in Bar
1n'S Weekly, "pankS rose and fell Ike
nepins. The story is told of mar
no came down the steps OF his de
anct bank, stumbled into the arms o
friend. and apologized by saying. The
act is, had lost my balance