Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-01

time that any pur- EEzfzz zkssszsaazzz
chaser has been John r. Waller.
anxious enough to
get it to pay such a high price. While
the new peak is highly interesting, the
turnover of only 80 shares is not con-
sidered of any special sinifcance.
Lanston Monotype also scored a new
high mark today by selling at l23. Inc
stock opened at 122 and closed at the
high for the day. Railway 81 Electric
preferred sold at 99A, and there were
some more transactions in washington
Gas Light at l25, perhaps in connection
with the scramble for control of the
company before the annual meeting
which takes place next Monday.
Other stocks and bonds sold on the
exchange today around recent levels
Peoples Drug registered 1913 and SIN
gle share of American Security 81 Trust
stock sold at ATS for the first time.
Local Bank i'm New Quarters.
The International Bank opened for
business today in handsome new quar-
tiers in the Brookings Building, at 16
jackson Place, which will now be known
as the International Bank Building. The
bank has taken the entire street floor
and the mezzanine, has ample space,
fine light and ventilation, and a gener-
ally convenient arrangement in every
way. One of the innovations Is a ticker
carrying the days leading financial
news in condensed form. Flowers from
business associates gave the new head
quarters a most charming appearance
when the doors were thrown open today.
Officers and directors are Joh's II.
Waller, president: Austin c. Waller.
William L. Symons, j. A. M. Ada1r ana
j. r. Guthrie, vice presidents; Thomas
B. Lawler, OBSERVATION-DISCLOSURES; resident
and regional directors, j. A. M. Adair,
r. P. Andrews, William T. Brown, Ed
mund D. Campbell, Charles A. Douglas,
George B. Furman, K. j. Farup, j. Il.
Guthrie. w. E. Hartman, DR.. B. L. jar
man. Frank Kenna, Thomas B. LAWYER,
w. F. Milliga.l, S. A. Nelson, Charles M.
Pepper, Eugene A Smith, Benjamin w.
Steele, william L. Symons, A. G. Waller
John r. Waller, John r. Wallis ana
George D. Wybrant.
John r. Waller, and his brother,
Austin c. Waller, got their first bank
ing experience in Iowa, where they or
ganized and directed the Federal Bank
&c Trust Co. at Dubuque. This bank
has grown to splendid proportions.
These men have been equally success
full with their Washington venture, their
annual reports showing steady expan-
sion year by year.
Reserve Board Reviews Trade.
The Federal Reserve Board reported
today that department store trade
showed greater activity in December
than in any other month OF the year,
except September, even when allowance
is made for the usual seasonal expan-
sion Of trade and for number of bust
ness days The total volume Of sales
during the month was the largest on
record, exceeding that of December.
1927, which had one more business day.
For the entire year 1928 the volume
of sales increased about per cent over
the preceding year.
Sales of mail order houses and re-
porting chain stores in all lines ex-
cept cigars were larger during Deem
Der than a year ago, the largest in
creases being reported by drug and ap-
parel and dry goods chains. For the
year as whole sales of chain stores
Z in all lines of trade except cigars in
creased in comparison with 1927, and
sales of mail order houses were II per
cent larger. These increases reflect in
part the establishment during the year
Of additional retail outlets.
4ICIGdSG0 SdlES IOI Lie IIIOIlbll, d
compared with December. 1927, were
reported by department stores in the
! New York, Richmond and Chicago Fed
eral reserve districts, while large de-
creases occurred in the Atlanta and
Minneapolis districts.
! Merchandise stocks of reporting de-
! partment stores decreased by less than
the usual seasonal amount during De-
cember, as compared with the pre-
] viouS month, but were smaller than a
year ago, and the rate of stock turn
over of department stores during the
year 1928 was higher than during 1927
Washington's Stock Turnover.
Washington reported higher rate OF
. stock turnover in December, the 81
with SO in December, 1927. For the
year ended December 81, the rate Of
stock turnover here was 1853, an i'm
provement over the 3.51 reported in
1927. The turnover for the entire fifth
! district was at the rate of 1856 asst year
comparing with 1888 the year before.
Stocks on hand in Washington de-
partment stores on December 81 were
! 40 per cent smaller than the supply g
year ago, and were 1876 per cent be.
low the level on November 80, 1928
. In the entire fifth district there was 9
decrease of "a per cent in stocks or
December 81, compared with the same
date in 1927, and decline Of 1872 pei
cent when compared with November 80
1928.
Banking Fraternity Suffers Loss.
The local banking fraternity wa.
shocked by the death of Howard A
Wilson, assistant cashier of the Lincoln
National Bank, who died yesterday from
pneumonia. Mr.. Wilson had been very
i'll for seceral Gays.
Mr. Wilson had been with the banl
. since 1894 when he started in as mes.
senger. In the intervening "a years HI
I. had become of greater and greater valu,
to the bank and for the past 10 year.
had been assistant cashier He wa
quiet and reserved in his nature ans
80 never took any active part in the Dis
trict Bankers Association, yet his as
sociateS say that he had UNUSUAL,
sound banking judgment.