Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-03

order to obtain the '2SS$ls -
distinguished Yale HSz
professors services Edward n. Hurley.
it was. a pleasure
to the local committee to move the date
forward two days.
DR.. Fisher is one of the most widely
known economists in the country and
local bankers will be elated to learn that
he is coming here to make a special
address. His subject is yet to be an
nounced but it is sure to be timely and
of vital interest to all bankers and In
vestment leaders in Washington. He Is
one of the closest students in the coun-
try of stock market conditions, and his
weekly summaries of financial condl-
tons are read everywhere. Prof. Fisher
has been on the Yale faculty for MANY
years and his financial influence and
knowledge has grown steadily.
President Waller of the local aSsocia-
ton also announced the appointment
of a special committee to attend the
funeral of Charles j. Bell at Bethlehem
Chapel this afternoon. MIR. Bell was a
former president of the association, had
served on the most important commit
tees and his advice was always closely
followed.
The committee consists of George W.
White. president Of the National Metro
politan Bank; John B. Larner. presi-
dent of the Washington Loan & Trust
Co: Frank Stetson. trust officer of the
National Savings & Trust Co.. Robert
N. Harper. president of the District
National Bank. and the present head
of the association, Mr.. Waller.
A special meeting of the association
has been called for next Tuesday after
noon at o'clock for the passage of
resolutions suitable to Mr.. Bells
memory.
Hurley Joins Securities Firm.
Edward N. Hurley, former chairman
of the Federal Trade Commission and
wartime head of the United States
Shipping Board, has joined the securi-
ties firm of Hurley & Co., in New York,
as chairman of the board. His son,
Raymond j. Hurley, will continue as
president of the enlarged firm, the
capital of which has been increased
to 100000 shares of $25 par value,
total of S5,0O0O0O. The firm will deal
in general investment securities.
Over 500 to Attend Convention.
There is considerable local interest
in the coming annual convention of the
Investment Bankers Association of
America, which opens at Quebec on
october IL. 1t is reported that more
than 800 investment bankers from the
United States and Canada will be pres
ent More than 80 reports will be pre-
sented, touching on investment condi-
tions and the present revolutionary
trend in security buying. News from the
head Office in Chicago indicates one OF
the best conventions in years. This
years president of the association is
Rollin A. Wilbur of Cleveland.
Heard in Financial District.
The October Trust Companies Maya
zine pays a glowing tribute to John
YOrcciio1f 0f tho Wa ShinOfOn
Loan & Trust Co., for his success at
the head of the local institution. The
commentator is made in connection
with the banks recent observance Of
its fortieth anniversary.
Hilleary L. Offutt, jr., vice president
and cashier of the District National
Bank. is concluding a months vacation
at his desk Monday.
Word has been received here OF the
safe arrival in Europe OF George E..
Fleming, vice president of the Union
Trust Co. Mr.. Fleming crossed on the
steamship Rochambeau, landing at
Havre.
Support of President Hoover's posi-
ton on the flexible provisions OF the
tariff bill was unanimously voted by
the board of directors of the National
Fertilizer Association in a meeting here
october l.
Rapidly changing conditions within
the fertilizer industry, both with re-
spect to production of materials and
consumption of finished goods, inf1u-
enced the board in taking this position,
according to Charles J. Brand, executive
secretary and treasurer.
w. 0. Woods, Treasurer of the United
States was a guest at the regular We'd
nesday luncheon of the District of
Columbia Bankers Association yes
terday.
Trading Quiet on d. C. Exchange.
Riggs National Bank stock came out
today after several days without any
sales. Five shares changed hands at
607l2. This is lower than the last
transaction, but the stock is now selling
eX-dividend.
Capital Traction sold to the extent of
only Is shares. Ten shares opened the
market at STA and eight more later
Peoples Drug at 118 and 1874 and so
shares of Woodward e. Lothrop pre-
ferred changed hands at 107
Three bank stocks were out. In adj
dition to the above noted sales in Riggs,
Federal-American National moved at
326 and East Washington Savings Bank
changed hands at 35. Bonds were quiet
at recent price levels.
Only four local stocks are now selling
ex-dividend, Riggs National, American
Security & Trust, Union Trust and
Federal Storage. October l saw the
slate almost cleaned up.
Dividends and Other Notes.
F. g. w. Grand 5-10-25 Cent Stores
have declared quarterly dividends of IS
cents on common and $1.62R on pre-.
ferred. Common is payable October 81
to stock of record October IL and pre-
ferred November 1 TO stock of record
october IL.
S. H. Kresge & Co. yesterday declared
an extra dividend on the common stock
of so cents, payable in special $40 par
preferred stock, and the regular quar-
terly dividend of IS cents. On the spe-
cial preferred dividend of Is cents was
declared. All dividends are payable
November l to stock of record Octo.
Der TO-
New York Stock Exchange brokers
loans increased $667 1854, $50 in Septem.
Der to $8,549, 383,979. new high record
against $5,513, 539, 685 a year ago.
Public debt of United States decreased
$85, 453,722 in September to $16,719,982
TIL, against $17,367, 350.788 a year ago
William B. johnson has been elected
a vice president of the Knickerbockcl
Ice Co. Starting as an Office boy will
the company 80 years ago, Mr.. johnson
rose to become general sales manager
of both the Knickerbocker Co. and thu
parent concern, the American Ice Co.
and last year was elected vice preSiden
~ fIan lott