Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-05

TSlHNeSleu
In yesterdays market Merchants
Bank & Trust Co. stock sold at 1873.
while 100 shares of Real Estate Mort
gage 81 Guaranty preferred came out
at 7ss and Commercial National Co
recorded a small sale at 103A. The
unlisted securities were checked over
and but few changes noted. The bid
price on Washington Base Ball Club
stock has been advanced one point to
81 up.
Governor Honors Local Banker.
Wade H. Cooper, president Of the
Continental Trust Co. and the United
States Savings Bank. has just been
commissioned colonel on the staff of
Gov. Elem D. Sampson of Kentucky.
Col. Cooper already holds the same
rank on the STATS of several other State
executives.
In addition to his prominent place
"a the banking field of Washington Col.
Cooper is active in civic affairs both
here and in other sections of the coun-
try. He owns and manages large pub
fishing house in New York, while one
Of his chief interests is in providing
scholarships for worthy boys and girls
in different parts OF the country BY
means Of which they are enabled to
secure an education.
Cooper Is trustee of Lincoln Memorial
University at Cumberland Gap, Tenn.
He is president of the National Civil
Legion, with headquarters in Chicago.
He is a member of the American Bank
era Association, Board of Trade,
Racquet Club, Congressional Country
Cipb, Capital Yacht Club, National
Press Club, Columbia Historical Society,
EngliSh-speaking Union, American So
ciety of International Law, American
Peace Society, Sons of the American
Revolution, Archaeological Society of
Washington. National Geographic So
ciety, American Bible Society and is
interested in various other corporations
here and in New York.
Nominating Committee Named.
The following nominating committee
of the fiduciaries section of the Dis
trict Bankers Association, to consider
nominations for the sections executive
council. has been named
David N. Houston, truss officer, Amesri-
can Security & Trust Co.; Barnum L.
Cotton, trust officer, District National
Bank; Irving zirpel, secretary, Union
Trust Co; Aubrey o. Dooley, assistant
trust oflcer. Federal-American Ma
tional, and George M Mckee, assistant
trust officer, Riggs National.
The nominations will be announced
at the May meeting Of the section and
be voted for at the bankers convention
at Montauk in June.
New Stock Issue Announced.
A new issue of the class "a" common
stock of the Interstate Utilities Cor
poration was announced yesterday by
the Washington Office of the Inter-
wilkins Building.
The Interstate Utilities Corporation
is identified with the operation of COM
panies covering all. branches of the
public utility industry, including gas,
ice, telephone and electric power COM
panies.
The new stock is entitled to prior
annual dividends of 81 per share pay
able July /, and January l. The Manu-
facturers Trust Co., of New York. is
transfer agent and the Empire Trust
Co. the registrar.
Automobile Outlook Reviewed.
Despite the fact that automibile COM
panies are operating at a very high
percentage of capacity and at rate
much above the average rate Of con-
sumption in recent years, there Is a
decided tendency for stocks Of cars
to accumulate in dealers hands, and
the demand for automobiles is at pre-
sent governed almost entirely by local
conditions which are spotty in many
instances, according to reports made
public by Fenner & Beane received as
a result of QUESTIONABLE addressed
to their local managers in SIS princi-
pal cities of the company's territory,
principally in the South and South
west.
Out of the replies received from IS
different States, reports from II cities
show an upward movement in sales as
compared with % reporting a slump in
sales. Dealers inventories of cars on
hand show a majority with an excess
supply. In this connection the reports
reveal hiatt in 10 different cities stocks
of cars are larger than the current
demand justifies, while in six cities
stocks have decreased.
Warns Aviation Industry.
A warning that care must be exer-
cised lest the command of large capt.
tai resources made available to the
aviation industry and the desire to
obtain a profit thereon tempt manage
mentS to embark too rapidly on an ex-
pansion program is sounded by G. M.
P. Murphy & Co., in a review on The
Progress of Aviation"
Perhaps no American industry here
Tofore has had such large sums of
capital made available to it so early
in its commercial development as has
aviation" the review states This
capital, too, has been supplied on a
basis most favorable to the develop
ment of the industry, namely as stock,
and mostly as common stock, SO that
there is no problem of compromising
the owners of this capital during its
early stages"
Heard in Financial District.
Luther E. Schreiner, manager of the
Dupont Circle branch of the Mer-
chants Bank & Trust Co., who has
been confined to his home with an
attack of pneumonia, has recovered
sufficiently to go South for a short
period of rest and recuperation.
Harvey T. Hill assistant TO the pres
ident of the Chicago Stock Exchange,
spent several days in Washington dur
ing the week attending the Chamber
of Commerce convention. Mr.. Hill re-
ported a surprisingly rapid growth in
interest in the financial pages Of both
Eastern and Western newspapers, fol-
lowing calls on many newspaper editors.
It is the intention of five or six local
broker houses to install Chicago Stock
Exchange tickers in the near future.
The officers of teh Chicago Exchange
are making a tremendous EFFORT 10
increase the size and Importance OF
a., the mart and are meeting with great
success.
The Crorca Crush CO. declared a
ouortcrlv dividend Of 81, cents on
TIE common stoc', r'a"ing il on 81 30
annual b-ci@. ravS ntc Nav p TO stock
e. rpoori Nav Is This Is the frSt
.Cividend ON the NV sick outstand