Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-03

many years. 1
fact. Mr.. Hibbs has frequently serve
as president of the organization an
has always been one of the heavieS
traders.
Mr.. Corby is a widely known Wash
ington business man. He was original
active in the management of the Corb
Baking Co., but when that compan
became affiliated with the Continents
Baking Co. Mr.. Corby became free t
make other business connections an
decided to enter the brokerage business
He is a director in several importan
corporations, including the LanStol
Monotype Co.
The seat purchased by Mr.. Corby to
day was formerly held by j. william
Harrington. Mr.. Harrington is also con
nected with w. B. Hibbs & Co, but wa
manager of the brokerage house OF tn
late John L. Edwards at the time n
was elected member.
Lanston Leader on Exchange.
Ianston Monotype stock was by IA
the most active issue on the Washing
ton Stock Exchange today, block o
$50 shares changing hands at 1851
and a single share at 1854. Thl
was the largest transaction in any ISSUE
on the board for a long time.
The market recorded $4,000 pur'
chase of Washington Gas 6S, Series B
at 1925 and a host of other bond Sale'
of smaller denominations. Potomac
Electric Consolidated SIS, Anacostia &
Potomac Railroad SIS, Gas IS, Capita
Traction SIS and Washington Railway &
Electric As were among the popular
issues.
There was broad trading in stocks
around recent levels. Capital Traction
figured in several good sized sale:
around 97&, Railway & Electric pre-
ferred moved at 971a, Riggs National
Bank stock at SIS, Potomac Electric {
per cent preferred at 1922 and the 5 Il
per cent preferred 10712.
The large amount of bond trading TO-
day indicated reinvestment following
the redemption on May l of the Wash
ington Railway & Electric General 6s
This was a very important issue, ano
was largely held by local investors.
Controller to Attend Dinner.
John w. Pole, controller of the cur
rency, has accepted an invitation from
the District of Columbia Bankers AS
ISOLATION. to attend the annual Spring
get-together dinner, which takes place
at the Columbia Country Club mex
Wednesday evening, May s.
Another high Treasury official WHIT
has accepted the committees invitation
to be present is F. w. Await, deput!
controller of the currency His duties
keep him in close touch with Washing
ton banking, and he has many FRIENDS
among local bankers and has already
attended several of these dinners.
It was announced today that thirc
guest will be Merle Thorpe, editor Of
the Nations Business, which Is pub
1iShed by the United States Chamber
of Commerce. He is not down to speak
although he made one of the best ad'
dresses of the convention two years ago
at Hot Springs. The program include:
no extended speeches.
The dinner will be served around
T:3O. or as soon as possible after the
conclusion of the afternoon golf con
test. Reservations are coming in rapid
", a fine attendance already being as
sured.
1t was further announced at noon to-
day that Strickland Gilliland, humor'
ist, writer and lecturer, who has wide
reputation as an entertainer, would bf
the headline attraction. Mr.. Gillilanc
is a member of the National Press Clut
and is now making his home in Wash
ington. George O'Connor and Mat
Horn are also on the bill.
Stability Big Business Factor.
Stability of the business trend, anc
at the same time adaptability Of man
agements to new changes are two fac
tors in the motion picture industry Of
particular interest to the investor, &C.
cording to William Fox, motion picture
executive, who spoke on the Halsey
Stuart g. Co. radio program last night
He pointed out that motion picture
theaters are among the last business
enterprises to feel a depression, ant
- - nEif q
among the first to recover. AS evidence
of the adaptibility OF arrangements, III
cited the rapid development OF the talk
ing picture as soon as its merit wa
demonstrated.
Mr.. Fox reviewed the tremendou
progress which has been made by In
dustry since its inception in the earl.
part of the century when the motor
picture theater consisted of darkenet
room with few temporary chairs. It
present position was made clear b,
figures showing there are now som
10000 motion picture theaters in thi
country with a seating capacity o
about 100000 and total investmen
in the industry of more than $l,75O,
100000.
Heard in Financial District.
John B. Larner, president of tn
been confined at George Washington
Hospital with an injured knee, IS tn
happiest banker in Washington toda
because of the removal Of the cast.
George L. Starkey, president OF TN
National Bank of Washington. is IN Bal
tinore today on business. Excavation
for the banks new branch In South
vest Washington is being pushed rap
idly. The branch should be ready I
operate by August or early September
Figures in the Lanston Monotyp
Co.'S annual report show that the cor
poration earned S13.27 a share for tn
wear ended February %, 1929. TIL
compares with SO a share in the prev
Gus year. All the officers were re
elected late yesterday.
President Victor B. Deyber OF tn
Second National Bank is back at n
desk after a weeks absence due
illness.
The new business contest Of the 81
curity Savings & Commercial Bank M
passed the 100000 mark and Is mol
than 5000 900 ahead of the objective 81
at the start of the contest March z.
Examinations in types and analyS'
of financial statements took place la
night for students of courses sponsort
by the Washington Chapter, America
Institute of Banking.
A meeting of the commercial traC
activities committee of the District
Columbia Bankers Association has bet
called by Chairman Frederick P. St'
dons for May %.