Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-19

ing member banks
in the New York
district, $21 900 900 "A
in the Boston dis
trict, $10,000,000 in 49, A'''''~-
the Cleveland dis Howard Moran.
trict, 100000 in
the Richmond district and $377,000,.
600 at all reporting banks.
"All other" loans increased $4,000
600 in the Boston district, $4,000 in
the Philadelphia district and S6,000,-
900 in the San Francisco district and
declined 100000 in the New York
district and $7,000,000 in the Chicago
district, all reporting banks showing q
net increase of $3,000,000.
Condition of Member Banks.
Summary figures showing the condi-
ton Of all member banks on October 4,
1929, which have. just been released by
the Federal Reserve Board, give their
loans and investments as $35,914,-
100000. an increase of 5000 900 900 for
the three months since June 20, the
preceding call date, and of $685. ZOO, 900
since october of last year. Total
loans increased $506000 900 during the
quarter and $1,840,000,O00 during the
year, while investments in United
States Government and other securities
OCSA1IlCu oOO9,OOUsOUU LllG
and 855,000,000 during the year.
Moran on Legislation Body.
Howard Moran, vice president of the
American Security g. Trust Co., has
been appointed a member of the Fed
eral legislation committee of the Saw
ings Bank Division of the American
Bankers Association. Mr.. Moran has
o1rnodu caPIJaA fhic ond CnUaral
other important committees Of the asso-
citation and has also acted for the Dis
trict Of Columbia Bankers Association
as q member of the executive council
He is former president of the local
bankers association and one of the best
known bankers in the city.
MergenthaIer Declares Extra.
An extra dividend of rs cents and a
quarterly payment of $3.50 were de-
clared on. the common stock of the
Mergenthaler Linotype Co., the latter
increasing the annual rate from SIS to
Sc In the four previous quarters, extra
dividends of so cents each were paid.
Both the extra and regular dividends
are payable December 81, to stock of
record December 4.
Bank Merger Rumors Numerous.
Discussion of the possibility Of the
merging of half dozen Washington
banks has been revised in the financial
district. Such reports were frequently
heard before the recent crash in the
New York stock market, but the stock
break greatly reduced the chances OF
any early combinations of banks any
where in the country. In connection
with the present move the name Of
julius I. Peyser. president Of the Sc
curity Savings e. Commercial Bank, is
mentioned as the leader. Mr.. Peyser
refuses to deny or affirm the reports,
and sufficient progress has not yet been
made to permit announcement Of the
identity of the banks involved 1t is
understood that Mr. Peyser's own bank
is not being considered in the conson-
dation proposals. 1t tan be stated def
nitely that it will be some time before
any mergers are completed in this city.
Trading on ID. C. Exchange.
Potomac Electric Power 51a per cent
preferred stock led trading on the
Washington Stock Exchange today. The
stock opened at 10334, went to 1037s
and then closed at 10334.
Only five shares of Capital Traction
GENE out today, selling at rs. Thirty
five shares Of Lanston sold at los, while
65 shares of Merchants Transfer &
Storage preferred moved at SO.
Mergenthaler was steady at 1925 and
1929 on light sales. Twenty shares of
Peoples Drug Stores preferred sold at
103, and 100 shares of National Mort
gage & Investment preferred at 4. -Four
hundred shares of Real Estate Mort
gage & Guaranty preferred came out
at IL.
Bond sales were confined to Washing
ton Gas issues. Gas SIS sold at 9S%
and Gas IS, series A, at 1904.
New Stockholders Record.
Another new high record in the num-
Der Of Pennsylvania Railroad stock
holders was reached on November /
when 188,047 shareholders were regis
tered. This is the second successive
month in which the stock has risen to
record-breaking levels for widespread
public distribution.
Number of stockholders November
showed an increase of 80, DAB, compared
with the corresponding date year ago,
and an increase of $3.50 over the pre-
ceding month. A large proportion of
this increase is accounted for by the
addition, during September and Octo-
Der, Of many new employe holders.
Large numbers of employees, who sub
scribed, are not yet registered as stock
holders as their instalments are not
yet all paid.
pennsylvania railroad SUOck Is SIAl
largely held in Pennsylvania, total OF
SO. 504 shareholders, or over A per cent,
living in the State under whose laws
the company is chartered. New York
follows with 81 ,246 holders, or 1866 per
cent. New England has 22,869 stock
holders, or approximately IL per cent.
Heard in Financial District.
John Poole, president of the Federal
American National Bank, is attending
the sessions of the Federal Reserve
Boards advisory council, having beer
made a member of this body OF oank'
ers several weeks ago.
The Virginia Electric q Power 90
declared the regular quarterly diVldenoi
of SITS on the per cent preferred
and 81 so on the per cent preferred
both payable December 20 TO stock o
record November 90.
Local brokers were pleased with Tn
manner in which the New York stool
market acted in today's early trading
There were no extra large blocks o
stock changing hands as has been Tn,
case in so many recent sessions.
For the eighth consecutive week com
modify prices have declined, accordin
to the wholesale price index of the Ma
tional Fertilizer Association. For tn
week ended November 16 the declln
was O4 per cent, for the eight week
ended November Is it was 2.8 per cen
and since July 81 it has amounted to 8.
per cent.