Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-10-21
BANK STOCKS HERE
IN FAIR DEMAND
Four Issues Change Hands in
Local Market Today-New
Listing Active.
BY EDWARD C. STONE.

business opened with a substantial
amount of trading. Bond sales vert
confined to four issues, Washington Ca
S. which moved at 97l2; Washington
Gas IS. series A, which changed hanuS
at 102, at the high for the day. AND
Washington Gas IS, series B, which
opened at 1903 and closed at l03l4. and
Chestnut Farms 612s at l06.
Bank stocks were considerably IN
evidence Riggs National figured IN
two single-share transactions a Clio
Lincoln National sold at 425 and 424
American Security e. Trust moved al
468, and Commercial National at 265
All were small-lot transactions.
Capital Traction opened the weei
with a five-share transaction at 85 g
Both type stocks were out, Lanston sell
ing at 1870 and Mergenthaler command.
ing 104. Fifty shares of Barber d Ross
common changed hands at l734. PEG.
pies Drug Stores opened at ll5A anc
closed at 1857.
National Mortgage & Investment pre-
ferred figured in a 400-share turnover
at Az. Real Estate Mortgage & Guar
anty preferred sold at 7as. and so more
sold at 7l2. One hundred shares OF
Terminal Refrigerating & Warehouslng
Corporation brought 5ll2 and 200
shares of the newly listed Carpet Cor
Merchants Transfer & Storage common
came out on the board at ll6.
Market Grips Attention Here.
Both local brokers and bankers were
intensely interested today in the move
ment of the New York stock market.
The opinion expressed was that the
stock market will be nervous and ir-
regular for some time, but that the
worst of the selling in the latest break
may have passed.
Members of the District Bankers As
ISOLATION are awaiting with unusual In
terest the coming Of Irving Fisher
Wednesday evening to the Willard
when the noted economist will speak
on stock Market Levels" DR.. Fisher
gives an address tonight before the
New York Credit Mems Association, his
subject being The outlook for Bust
ness"
President w. ]. Waller of the local
association returned to his Office at the
Federal-American Bank today and re-
ported that plans are completed for the
Wednesday evening meeting.
Returns From A. b. A. Convention.
Hilleary c.. Hoskinson, vice president
of the Riggs National Bank, has re-
attended the annual convention of the
American Bankers Association. He
listened to some most informative dis
cussions on branch banking, group
banking and unit banking. He con-
sidered the address by Controller John
w. Pole one of the finest on the pro-
gram and one that perhaps aroused
more comment than any other. Con-
trollerS Poles address favoring branch
banking under territorial limitations
took no half way position in this vital
issue.
In Mr. Hoskinson's opinion the most
important result of the entire conVen-
ton was the appointment of special
committee of bankers to study the
banking situation and make recon-
mendations to Congress aimed to pre-
vent national banks from withdrawing
from the national bank system and take
out State charters.
Investment Bankers Arrive Home.
The four local members of. the In
vestment Bankers Association, who
attended the annual convention at
Quebec, were back in the city today.
Those who attended were Paul v.
Keyser. C. C. Morgan, Kenneth S. Wales
and Y. E. Booker. Mr.. Keyser is at
torney for the association.
AS already stated in The Star, many
of the speakers forecast a gradual re-
turn to bonds by many investors. Mr..
Booker said today that this widely eX-
pressed view seemed to be the highlight
of the convention. The speakers did
not predict bull market in bonds"
at once, but stressed the trend toward
standard securities.
Children Deposit S2S,672, 496.
A total of 4,222,935 school children
participated in school savings banking
in the United States during the last
rolling up net savings of $10,539, 1923,
bringing total bank balances now cred
tied to this movement to above $50
10000, according to the annual report
just issued by the savings bank division
of the American Bankers Association.
Schools to the number 1887 are en-
rolled in the plan, the report says. All
these figures are in marked advance
over all previous annual figures. The
number of schools having school saw
ing has increased by 1,762, or 1927 per
cent. The pupils enrolled in schools
affording an opportunity for school saw
ings increased 1852, 974, or Sc per cent;
and 242, 698, or ST per cent, more pupils
participated than during the preceding
year.
Heard in Financial District.
September United States motor We
hicle production, as recorded in factory
sales, 4l5,332 units, decrease 83, 029 from
preceding month and increase 10 over
September, 1923; nine months, 4637, All
against 3,470,219.
H. Cochran Fisher and PAD D. Sleep
er are among the local insurance men
who are attending the three-day trust
development conference being held in
New York on invitation of the Equitable
Trust Co. The methods pursued by the
insurance trust department of the
Equitable Trust Co. will be explained in
detail, and many round-table discus
Sions have been arranged.
w. w. Spaid. partner in W. B. HibbS
& Co., has returned from New York.
where he attended a meeting of the
executive committee of the out-of town
section of New York Stock Exchange
f rms.
In letter to stockholders of Amer
lean Telephone & Telegraph Co, Walter
S. Clifford, president, announced that
another reduction in toll and long-dis-
lance telephone rates would be made
effective January !, 1890
Offering is made of $13, 100000 Balti-
more g. Ohio Railroad Co. 412%o equip
ment trust certificates, series F., by
Bankers Co. of New York, Continental
Illinois Co., Inc, and Evans, Stillman g.
Co. The certificates, which mature in
serial installments of 100000 annually
from November !, 1880, to November /
1914. are priced to yield from sc
to 5.l259s.
Natural Gas Developments.
G. M. p. Murphy e. Co. have issued
review of natural gas developments, in
which they say Construction of natu.
raj gas pipe lines has been active thi:
year to a degree which is indicated a,
strikingly perhaps as in any other way
by the fact that demands from builder!
OF gas lines have been mentioned from
time TO time as real contributing
factor to the notable prosperity of thu