Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-17

ferred stock sold at a
1903. Merchants
Transfer 81 Storage C,,r.ne. =. Burtcr.
common changed
bands at t3l. Mergenthaler Linotype at
1879 and IL shares of Peoples Drug
Stores preferred at 124.
Ten shares of Bank of Bethesda stock
sold at 50 and so shares of Chaplin
Sacks per cent preferred. in the I'M
listed department, brought 1882 and
5 shares 108. In the bond division,
Barber & Ross 6l2s moved at 95 2, Cap
ital Traction SIS at 1907, City & Sub
urban SIS at 93as and Washington Gas
IS. Series B. at i06.
The unlisted department showed sew
eral small advances in bid, and the
asked price on Park Savings Bank was
raised to IS.
Washington Bank Clearings Up.
Bank clearings in Washington for the
week ended March IA. aggregated 500
666 000 against the lower figure of $29,-
$4,000 for the previous week and an in
crease over the corresponding week a
year ago of 20.4 per cent.
Baltimore and Richmond did not
make such good records Baltimore re-
ported $94, 1922 900 for the week ended
March IA. against $l16,565, 900 for the
week ending March Z. and a decrease
of almost : per cent over the same
week in 1928
Richmond clearings totaled $4o.736.-
900, against S42.911 900 in the previous
week and but an increase of 81 per
cent over the corresponding week a
year ago. Norfolk clearings for the week
were bit under the previous week and
also below the record of last year.
Bank clearings in the United States
for week ended March IA aggregated
s12,s11 1894, 600. as against S15,273,63S,-
GOO In preceding week and S11,105. 4ol.-
600 year ago. decrease of 1874 per
cent from last week, but gain of 1863
per cent over q year ago.
Local Dividends Declared.
The directors of the Capital Traction
Co. have declared the regular quarterly
dividend Of / per cent. The disburse-
ment is payable on April l TO stock
holders of record on March IA.
The directors of the Union Trust Co.
have just declared the regular quarter
~ per cent dividend due at this time
It Is payable April Is to shareholders
Of record on March 81
The Norfolk & Washington Steam
boat Co. directors have voted the usual
quarterly dividend payment of 8 per
cent. Checks will be received on April
By stockholders Of record on March 20
The District National Securities Co.
board of directors. has declared the reg
ular quarterly dividend Of 1s4 per cent
on the preferred stock. tlrf. payment
also being announced for April /.
The usual quarterly dividend on
Chestnut Farms Dairy preferred Of pa
per cent was paid on March Is. The
dividend Of 81 per share on common
will be paid on April to stock of rec
ord March Is.
Burton Joins Banks Board.
Clarence F. Burton, who was elected
during the past week to the directorate
Of the Washington Mechanics Savings
Bank, was an active business man In
the Middle West for several years. He
is member of the District Bar Asso-
citation, came to Washington shortly
after the war and Is now connected
with r. B. Keech g. Co., brokers. He
has long been personal friend of Ezra
Gould, president of the bank
Fred N. Shepherd, executive man
ager OF the American Bankers Associa-
ton, was a visitor in Washington dur
ing the week.
I. A. Pop" Fleming. who has been
passing the Winter at Hotel Indialantic,
Melbourne, Fla, is expected back in the
city the latter part of this month.
q. M. P. Murphy has returned to New
York after a week spent at the firms
local ofdces. He announces the opening
of an Office in Philadelphia.
David Friday. we'll known economist
Of this city, is the author of an article
in the March Bankers Magazine on
Time Deposits and Brokers Loans"
Contrast In Stock Exchanges
Unusual events affecting many people
and great properties sometimes make
Hra etiN AranYfNaF7
Bankers Association Journal. The gov
ernors of the New York Stock Exchange
asked the members to approve an in
crease in membership from 1,l00 to
1875.
While the governors of the New York
Stock Exchange were working out plans
for increasing the membership and
thus creating an even greater market
than the present establishment, Dictator
Mussolini was moving to regulate all
the stock exchanges in Italy, not that
they might have greater freedom and
more facilities but that they may labor
under greater restrictions.
The Italian plan Is to prohibit short
selling and to require the submission OF
all transactions with names of the par
Elephants daily to government inspec-
tors
'It-would be difficult" says the Wall
Street Journal, ito imagine more COM
plete piece Of financial suicide.
Mr. MuSsolini's adventure will be brief
but highly instructive. He will ind
himself compelled within compare
lively short time to remove his re-
striction. 1t will take him years TO
restore the free market he is throwing
away and il will cost Italy's financial
center uncounted millions"
Index Shows Trade Gains.
Sales at wholesale increased in Janu-
arv more than is usual at this season.
according to the Federal Reserve
Boards revised index of wholesale sales
in eight lines of trade. The largest
increases from the previous month were
in sales of boots and shoes, men
clothing and dry goods, and were largely
seasonal in nature. Sales of drugs,
meat and groceries also increased some
what, while sales OF furniture and hard
ware declined.
In comparison with the previous year,
the volume of distribution at wholesale
in January showed an increase OF )
per cent, rejecting larger sales OF drugs
and meat as in other recent months
and also an increase in sales Of shoes
which since June, 1929, have been
lower than in the corresponding month
of the preceding year.
orders for machine tools and agrl-
cultural implements. which are not IN
Guided in the boards index, were con-
siderably larger than In January, 1928
Silver Production Drops.