Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-09-18

automobile firm 1or william Tyler Page.
show rooms ana
also contains the Dupont Circle Phar-
macy as we'll as several smaller shops.
THE second-f1oor entrance is the same
as that of the branch bank ana the
second floors of the two buildings are
also on the same level.
According to President Fleming, the
branch Office does not propose 10 JAKE
over the whole building for banking
purposes at present. In the past Few
years. however, there has been steaoy
expansion of business along that sectioli
Of Connecticut avenue both above ana
below the circle. Several embassies with
which the bank has done business 1or
wears are also located in this part OF
the city. Acquisition of the property
viii make 1t possible to use the new
building for banking purposes at any
time in the future when business ex-
pansion might make such move neces-
eaFy and desirable. A.
semr1es property have been under way
for several months. Bank officials con-
slider the property situated on one OF
the most valuable locations In WASH
ineton and are much pleased thaC Cne
transfer finally has been completed.
eve regard it highly important move
toward meeting any requirements tnat
NAV arise in the future" Mr.. Fleming
explained.
Enter "Million Dollar Class"
All life underwriters of Washington
are looking forward with expectation 70
the fortieth convention of the National
Association of Life Underwriters to be
held here September Is to q, at the
Mayfiower Hotel. Two local unoer-
writers have occasion to regard TINS
convention with unusual interest. They
are Ieopold v. Freudberg and Joseph
A. MARI, who will be. indicted on
Wednesday morning. September rs, into
the Million Dollar Round Table Break
fast Conference.
This is conference of premier
nroducers of life insurance gathered
from the entire country, and IN order
to be allowed to breakfast With them
next Wednesday one must have produc-
ed and paid for one million dollars or
more, of life insurance during the past
wear. Freudberg and Mari have &C
complished this enormous production
within the allotted time and their friends
and clients as we'll as the local aSSocla-
ton, are rejoicing at their success. or
the MANY thousand of life insurance
men in America, only SO underwriters
were eligible and attended the break
fast last year.
Mr., Freudberg represents the Massa
chusetts Mutual Life and is manager OF
the life insurance department. of the
firm of Young and Simon in the Wood
ward Building He has always produced
a large volume of life insurance. Mr..
Mari is associate general agent of the
State Mutual Life in the Barr Build
ing of this city and is well known as
a progressive life underwater. Mari ana
Freudberg are both members OF the
District of Columbia Bar. Mr.. Freudberg
is also a member of the faculty OF the
Washington College of Law, where he
teaches insurance law.
Local Dividends Announced.
Local dividends have been coming
thick and fast during the past few days.
Probably the one that has aroused the
most interest is the regular quarterly
disbursement declared by the directors
of the Capital Traction Co. At their
last meeting the board voted the usual
payment of SITS per share, payable on
October to shareholders of record Sep
TENDER a. Because of declining street
car earnings in Washington there is
always more or less talk about the
possibility of this dividend being re-
duced and the fact that the regular
disbursement wac voted will be cause
for general rejoicing among the large
number of stockholders.
The District National Securities Corp.
has declared the quarterly IA per cent
dividend on the preferred stock, due
october l on stock OF record Sep
TENDER 20.
The Union Trust Co. has declared
the regular 2 per cent quarterly divi-
dend, payable october Is to share
holders of record September 80.
The District National Banks regular
quarterly dividend of 2 per cent has
been declared, payable September 80 to
stock of record on September %:
The Merchants Transfer & Storage
Co.. at the regular meeting yesterday,
declared the quarterly dividend of 134
per cent on the preferred stock, 1t is
payable october 1 to stockholders
September %.
Banker to Attend Convention.
Ba-t-e,n Chesterman, the president Of
the Morris Plan Bank of Washington
will leave on Sunday to attend the con-
vention of the Morris Plan Bankers
Association to be held at White Sulpher
Springs, w. Va, on September 70, "a
and Is.
s, At this convention there will be
delegates from about 100 Morris Plan
Banks throughout the country.
Page to Address Young Bankers.
William Tyler Page will address the
Junior bankers of the city tonight at
the Willard Hotel when the Institute of
Banking certificates are to be awarded
a very large number of students who
completed the banking courses last
Spring. Many special prizes are to be
awarded and highly interesting pro-
gram has been arranged.
Bonds Feature Local Trading.
II Bonds again drew special attention on
the Washington Stock Exchange today
siCapital Traction IS, Potomac Electric
Consolidated IS, the Washington Gas
issues. and Potomac Electric Power 6s
were in excellent demand at recent
price levels. Railway & Electric As also
figured in the days transactions. The
total turnover in these different issues
was the largest in several weeks.
In the stock division there was
very heavy turnover in National
mortgage g. Investment preferred. Ter
shares sold at Az, 1000 more at anc
400 more at 434. Potomac Electric
Power stocks, Washington Railway &
Electric preferred LanSton Monotypt
and Mergenthaler Linotype appeared or
the board in small lots.
q fHalsey Stuart & Co. in Chicago anc
several New York financial houses have
recently been suggesting the purchase
i of bonds. Some of these market letter:
have been factor in the greater inter
est manifested in today's local market