Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-04-08

ElecCrlC POWER 0t2
per cent preferred came out at 1111s
and the 5l2 per cent preferred at 107A
Ten shares of Washington Railway &
Electric preferred appeared on the
board at 973s.
Ten shares of Woodward & Lothrop
preferred again changed hands at ITO,
District National Securities preferred
sold at 10l and so shares of National
Mortgage & Investment preferred
moved at So. Mergenthaler figured in
one sale Of 10 shares at the recent
price of 107l4.
Bonds played their share in the days
transactions. The first sale was a 81 900
transfer in AnacoStia & Potomac r. r.
IS at 95. Chesapeake g. Potomac Tele-
phone SIS came out on $1,000 sale at
1917.
washington Gas IS moved at 1904
while Washington Gas 6s, series B, fig
ured in a ST 900 turnover at 104l2. The
bond market closed with Chestnut
Farms Dairy 6l2s registering a $1,000
sale at 107.
Fifth District Business Status.
Business in the fifth Federal Reserve
district, which includes Washington
and the surrounding territory, Is hold
ing up we'll, according to latest reports
from the Federal Reserve Bank of
Richmond. Reports that employment
in the territory are we'll ahead OF this
time year ago, are indicative that
business is better than it was in April,
1928.
Reports just issued in the other IL
Federal Reserve districts are almost uni
versally favorable. New York reports
trade up to last year at this time, as
does the Philadelphia district. The
Boston district reports that industry
last week reached the highest mark in
several years.
Chicago notes that trade before
Easter and the week afterward was I'M
usually good, mail order houses being
particularly favorable. The Atlantic
district is another that reports retail
trade as unusually good.
Seeks Reserve Board Inquiry.
Representative Frank r. Reid of
Illinois will introduce in the House next
week resolution calling for an investi-
cation of Federal Reserve Board policy
to curb speculation in the stock
Market
The resolution will state, according
to a dispatch from Chicago, that this
policy has forced security holders to
sell and has assumed the right to re-
strict and regulate the public'S use OF
its own money in investing in stocks,
that this policy is unnecessary under
existing financial conditions and has
forced usuriouS interest rates. It also
will state that prices of stocks have
been artificially depressed to the in
jury of thousands of security holders
and general prosperity OF the country.
Father Long in Bank District.
Edwin D. Father, who recently be-
came resident manager of the Washing.
ton Office of w. w. Lanahan & Co. OF
Baltimore is veteran in the local
financial district. For about 20 years
he was with the Riggs National Bank
in charge of the foreign department
and was connected with the bank some
80 years in all He Is a brother OF VIII
liam J. Flather. vice president of Riggs,
who has been associated with that m
stitution longer than any other official
with the exception of Charles G. Glover,
ST. chairman of the board.
Edwin D. Father is a native OF This
city, His Office in the Hill Building
is located in a section which in recent
years has seen many brokerage. BOND
and other investment houses opened Tor
business.
Another Forum Dinner Planned.
It was announced today by I. ]. Rob-
erts, chairman of the local Institutes,
forum committee, that Undersecretary
of the Treasury Ogden L. Mills has
been secured as speaker for dm-
ner meeting to be held on wednesday,
April "A, at the Raleigh Hotel.
This will probably be the last meet
ing of the kind this year and record
breaking attendance is anticipated.
Undersecretary Mills agreed to address
the institute members several weeks
ago, but the meeting had to be post
poned The dinner committee is
greatly pleased over obtaining such a
high Government offcial as speaker.
For several years these forum din
Junior bankers of the city. Matters OF
particular importance to the banking
world are always the subjects chosen
and the bankers are permitted to ask
questions at the close of each address.
The subject of Mr.. Mills address will
be announced shortly.
Heard in Financial District.
At the last meeting of the directors
of the Washington Loan & Trust Co.
the regularly quarterly dividend of 8
to stockholders of record April "a.
The recently declared dividend of
$3.50 per share on Lanston Monotvpe
will be paid on Nav 81 to shareholders
Of. record on May 81.
Safeway Stores. with which the SAM
tarv Grocery Stores in this city are
affiliated, reported an increase Of COS
per cent in March sales and gain of
91.2 per cent for the first quartre.
John Poole president of the Federal
American National Bank. has returned
from two-week visit at White Sulphur
Springs, w. Va.