Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-11


have Just reported
to the District Bankers Association
total membership of 87,701, against
membership in 1928 of 83,178. In 1872
there were 78,145 members in the club
In 1925, 1855. and 66,279 in 1925:
The amounts invested in the Christ
mas savings clubs each year show tn
same steady increase. In 1925 tn
amount placed in the clubs was S4,414,
TAI. in 1925 it had advanced to S., 544,
e67, in 1927 it reached $5,994, 9O3, wnil
in 1928 bankers were startled by
Jump to $T.o46, ACT. While the mcreas
In club savings between 1927 and l92
was much larger than 1t is in 1929, We
bankers consider the new figures higni
gratifying.
Much of the increase in savings
due TO the work of the District Bankers
Association committee, which handle
the special cooperative advertising i
the newspapers. Eliot H. Thomson O
the Washington Loan g. Trust Co.. fla
been chairman of this committee sine
the Christmas savings clubs were frs
stiopted here, To him and his aSSoci
ates on the committee bank official
give unstinted praise for the work &C
complished.
The increase of 4,523 members thi
wear is considered a brilliant stroke il
thrift progress, especially as quite
percentage of the money saved by Thu
method eventually goes back into per
manent savings accounts.
Prices Steady on Exchange Here.
Prices were steady on the Washing
ton Stock Exchange today following
Saturdays holiday. Potomac Electrl
5i2 per cent preferred was the mos
active issue, opening at 1924 and ais
cent preferred opened at 1881 ant
closed at ia, a new high.
Capital Traction opened at 1861 AM
closed at 1865. Ten shares of Lanstol
sold at 1913. while Mergenthaler changes
hands at 104ss and 104l2. Commercial
National Co. preferred stock sold a
los and 81 shares of Federal-Americal
Co. preferred moved at 102. Nationa
Mortgage sold at So.
Only one bank stock came out, L
shares of Riggs National selling at 57e
same as the last previous sale. Bond
were in steady demand. Trading opene'
with Washington Gas IS, series A, sell
ing at los. Railway g. Electric IS cam
out at 893s and Barber & Ross 6l5
sold at o.
washington Consolidated Title
changed hands at 100. Washington Ga
B bonds sold UP to lot. The last sal
was in Potomac Electric Power first 5
at 1914.
The board of governors voted to clos
the exchange tomorrow, Lincoln's birth
day.
Underwriters to Hear Graffiin.
A. L. Baldwin, president of the Dis
trict of Columbia Underwriters Asso
citation, announces that Samuel W
Graffiin of Me- York will be the CUES
speaker at the monthly meeting Thurs
day noon at the Arlington Hotel. d.
] Grafilin is a former Washingtonian, wa
In business for 16 years in Baltimore
and is now secretary of the West Sid
I'm. G. A. in New York.
He has given many addresses befor
life insurance men in other parts OF tn
country. Last Spring he addressed tn
local chapter of the American Institut
of Banking, his talk being one Of tn
f1nest Of the year.
Local underwriters are already givin
good deal of thought to the 1872
national convention which Is to be bel
here.
Institute Classes Well Started.
Students in the American Institut
of Banking are now getting good star
in their work for the second half yea
So far there are 268 enrolled, accordin
to A. E. Henze, chairman of the educa
Honal committee of Washington chapte
Two advanced courses were added t
the second semester program, both {
which are considered of vital import
ance'to young bankers. One is bushes
.forecasting, in charge of Walter
Dunlap, and the other the analysis c
financial statements under the leader
ship of William G.. Buchanan.
Business forecasting is becoming NOR
and more important in the bankin
world, the work requiring most care
fully trained minds. The importanc
Of the other course speaks for itsel
chairman Henze said today it was nc
too late to enroll in these classes
such action is taken at once.
Heard in Financial District.
Howard Moran, vice president of til
American Security g. Trust Co., an
Edward j. McQuade, vice president {
the Liberty National Bank, and secre
,tary of the District Bankers Associs
ton, have returned from a trip [
FLORIDA. While away they visited /.
Fleming at Melbourne. They repol
l'Pop" to be in unusually good healt
this Winter and greatly enjoying h
Southern sojourn. They also repo
the Florida resorts doing good bus
ness and looking forward to an extra
fine February, the best month in tt
year.
Four regional savings conferences w
he held during the Spring in variol
parts of the country under the auspic
of the savings bank division, America
Bankers Association, for the purpo
of bringing to savings bankers Il
best and most up-to-date ideas app
cable to this phase of banking. IT
first meeting will be held Februa
t27-28, in Grand Rapids, Mich, for Il
Central States.
Stocks Make Good Showing.
3. One thousand dollars at 6 per ce
interest compounded annually grows
nearly $1,000 in 10 years, but 81 o
invested in Nash Motors in 1918 gr'
to practically $65.000 in the 10-ye
period ended the first of the year. II
increase In value of Nash stock, viii
amounted actually to 6490 per &c
gain, is believed to represent virtua
the greatest rise in value for the peri
among leading American inoustrials.
Other corporations showing SINH
large returns in capital valuation on
investment of 81 900 10 years ago a.
S. S. Kresge, $34, 290: United States G.
Iron Pipe, 17,790; Loose Wiles, $16,7l
F. w. Woolworth, $12,470; Americ
Can Co, 1,480: General Mote
$1,000; Reynolds Tobacco, 500
Gillette Safety Razor, $8,460: Gene
Electric. S7430. and Southern RaiIw
$6,l60. The figures are from Brookn1
Service.