Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-15

1uE DIpEld lh Va sB25H& YNN~
the opening day is n
to be devoted larg- IA -.
" to conferences
and two sightSee-
ing trips. One Is Charles E. Howe.
to Annapolis and
the other TO York, Pa, the nome U
the York Safe 81 Lock Co., where TIT
delegates will be the guests pf ina
company on a tour of the plant ane
at'dinner afterward. The real address
es and other business Of the conVen'
ton will begin Friday. -,
The delegation from this city VII
include the following. it being antlcl'
pated that others will go over Tor one
dav at least: Charles E. Howe, h =
Harris. Hans w. Ireland and Harry r
White. American Security d trust 90,
Robert H. Lacey, Columbia Natlona
bank: William H. Schof1eld. CONNER
cia1 National Bank; John M. Riordan
Rank of Commerce and Savings; E. E
Miller and Joseph D. Yerkes, Federal-
American National Bank: Mrs. Helen
y Reed. Lincoln National Bank; Jonr
NJ Boteler. National Savings tLus,
Co. Albert E. Fisher, Riggs Na1lonal
bank: William H Harper. Washington
loan & Trust Co.. and John d. Leonard
and G. L. Walden, Washington Savings
Bank.
Credit Institute Makes Awards.
washington Chapter Of the National
Institute of Credit. the educational DE-
nartnent of the Washington Assocla-
fion of Credit Men, today AWARDED 70
the students who have successfully
completed. this year, the course IN
credits. collections and basic eco
Monies" their certificates OF compile
ton. 49,.
The certificates we're presented at the
regular meeting of the association, held
eft the Raleigh Hotel. by Lister I,
watts. president of the local assocla-
tion Mr.. Watts urged the students TO
continue their educational work, stat
ing that nothing is more lmporlaht
in the business world today than tne
education of those who must assist IN
the solution of the many important
business problems"
c. Vincent Griffin of the Rossiyn
Steel & Cement Co. and Louis M. HeW-
lett of the Griffith Consumers co. were
awarded first honors and Miss Lillian
M. Ingram, member OF the admin
istrative staff of the local association,
was awarded second honors in the class.
Those receiving certificates were Mi
chael Clepatch, Paul j. Eichhorn, G.
Vincent Griffin Louis NJ. Hewlett. Lii
Ian NJ. Ingram, Thomas S. Pitt, Wllfred
A Simpson, Spencer B. Walz, Martin
M Watson. The officers and directors
of the local chapter include: President
w. r. Simpson: first vice president, @
Emery Galliher; second vice president,
E. G. Baczenas; secretary, Lillian In
gram. treasurer John A. Reilly; Ii
brariar. Mrs. E. j. Hess; directors, L.
M. Hewlett, E. P. Rickmeier, M. M
Watson, z. A. Brown and j. Frank
Kelly.
Kraft Heads Life Underwriters.
-
ors of the District of Columbia Life
Underwriters Association. held yester-
day, the following officers were elected
for the new fiscal year: Harold D.
Kraft. State Mutual Life Assurance
Co. president: H. Cochran Fisher,
Aetna Life Insurance Co, first vice
president: c.. Lea Stabler. New York
Life, second vice president; Alton @.
GrinneI, New England Mutual, secre-
tary, and George B. Farquhar, Penn
Mutual treasurer.
The local life insurance underwriters
are looking forward to an exceptionally
busy year, as they are to entertain the
national convention this Fall.
Stoddard Addresses Bond Club.
An investment trust of managerial
type is the best qualified agency to
handle the great amounts OF money
Americans are destined TO invest in for
eign enterprises, Lothrop Stoddard,
economist author and member OF the
advisory board of the United Invest
ment Assurance System OF Boston, told
local men in the bond business at a
luncheon sponsored by the Bond CLUB
of Washington and rendered by Found
ers Securities Trust OF Boston at the
Carlton Hotel yesterday.
Speaking on Europe, America and
Our Money" Mr. Stoddard advocated
foreign investment of American money,
hut, only through we'll informed, estab-
Iished and intelligent mediums which
are equipped to afford greatest possible
safety.
Founders Securities Trust of Boston
also spoke. Kenneth S. Wales pre-
sided.
First Quarter Records Broken.
Factories and mines have broken al
production records in the FIRST quar-
ter of this year, the Federal reserve
Board announced today.
Industrial output, rising rapidly fol
IS months. was about 10 per cent
larger in the first quarter than in the
same period of last year. The auto
mobile industry produced more cars
than in any previous quarter, and wa'
lone of the chief factors in the rise
OF INDUSTRIAL pTOOuCIlOn 10 IJS pIcocu
high level" the board said.
Increased demand for bank credit Il
finance industry and trade has ex'
panded commercial loans in leading
cities, while security loans and in
vestment holdings of the Federal Re-
serve member banks have declined.
There was a continuous flow of com
modities through the channels of trade
to the consumer, the boards summary
continued, and inventories, except in &
few industries, showed no evidence o.
unusual growth.
d. C. Market Highly Selective.
Most of the letters sent out by New
York brokerage houses these days statt
that the New York market is highly
selective. The same could be said o.
todays session of the Washington Stool
Exchange.
Trading was so selective that only
seven issues appeared on the board
The market opened with $4,000 Poto
mac Electric Power Consolidated s.
selling at 1917. The opening stool
sale was in Capital Traction. IS share
moving at 9612 and 80 shares changing
at 9&l4.
Potomac Electric Power per cen
preferred opened at 1872 and closed a
l13 There was a 25-share transfer il
Washington Gas at the recent highe
price level of 109l4. Federal America
Co. preferred sold at 101 u and a small
lot Of Mergenthaler Linotype register
ed 107I2. The market closed with S
shares of Railway g. Electric preferre'
appearing on the board at 9712.
Heard in Financial District.
The Georgetown banks-the Farmer