Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-16


Trust Co., is preSi- wuI;.r NJ J.ra;ns
dent of the cor
poration; Henry Shepperd, associated
with the Washington Office of Clark
Childs & Co., secretary, and j. V. Tar.
ter assistant secretary. The company
was organized over year ago and the
stock is quite widely held locally. Mr.
Jardines connection with the firm is
considered very important move by
the other directors.
Surety Company Increases Capital.
L. Bert Nye. manager for Washing
ton. Maryland, Virginia and North
Carolina for the American Surety Co:
of New York, reports that the trustees
have approved an increase in the COM
pany's capital from $5,000,000 to ST.
10000. The increase is to be repre-
scented by $4,000 additional shares OF
SIS par value each, to be offered to
the stockholders of the American
Surety Co. on the basis of one new
share for each four old shares held on
June 10. 1929 at SIS per share, and
another $4,000 shares of $25 par value
each, to be utilized in connection with
the acquisition of the shares OF capital
stock of the New York Casualty Co.
simultaneously, directors OF the New
York Casualty Co. approved the plans
of a committee representing stockhold-
ers for affiliation with the American
Surety Co. and providing that stock
holders of the casualty company be
given an opportunity of receiving one
share of American Surety stock for
each one-and-a-half shares OF New
York Casualty stock. In addition, each
New York Casualty stockholder will
be permitted to subscribe for one ad-
ditional share of American Surety
stock for each six shares of New York
Casualty stock which he deposits, at
SIS share The plan also contemplates
a special dividend of IS per share on
the New York Casualty stock prior
to the acquisition of that stock by the
American Surety Co.
Washington Gas Sells at ITO.
Washington Gas Light sold on the
Washington Stock Exchange today at
ITO, the highest mark reached since
before the annual meeting, when there
was a contest on for control Of the
company and sharp scramble to OBJ
tain the stock. Today's turnover, how
ever, was very small. The stock closed
with 1927 bid and Ill asked.
Security Savings & Commercial Bank
stock showed a Jump of 20 points since
the last sale, when it registered SCI on
a 10-share transfer. Federal Storage
Co. preferred sold at l22. Firemens
Fire Insurance sold to the extent OF SO
shares at 404 and 401s, and 100 shares
of Real Estate Mortgage & Guaranty
preferred changed hands at III. Riggs
National sold at SIS.
Georgetown Gas SIS opened the bond
trading, selling at par. Gas IS, series
A, came out at 1929, while the series B
bonds sold at 1031a. There were two
$4,000 sales in Chesapeake g. Potomac
Telephone SIS at 99s4.
Institute Governors Meet.
The board of governors of Washing
ton Chapter, American Institute OF
Banking, held their final meeting Of the
year last evening. The newly elected
members for the coming year were also
present.
Important committee reports covering
the years work were submitted, one OF
the most important being that Of the
educational chairman, A. E. Henze. This
report showed a substantial gain IN the
classwork during the year.
President James A. Soper presided.
Before the gov errors met, the delegates
to the coming annual convention at
Tulso, Okla. held a short session 10
make further plans for the trip. the
candidacy of T. Hunton Leith for
membership on the executive council
appears to be making splendid progress.
Life Insurance Output Larger.
New life insurance production during
April was 81 per cent greater THIS
year than in April. 1928, according to
Association of Life Insurance Presi-
dents. Such writings during the first
four months of this year were 7.8 per
cent greater than during the CORE
spending period of last year. Statistics
cover "A member companies having 81
per cent of the total life insurance in
all United States legal Reserve COM
panies. .
For April, ordinary insurance amount
ed to S793, 1876, 900. against $7l0,435, :
600 In 1928, an increase of III per cent
1929 and S259,962 900 in 1928, de-
crease of IA per cent. Group was $72,-
238 900. against $62, 007, 900 in 1928, a
gain of 1875 per cent. The aggregate
of all classes amounted to $1,l22,303,-
600. compared with s1,o32, 404, 900 in
1928. -.
For the four months period. new
ordinary insurance amounted to $2,967,-
4l5,000 against $2.727 .425, 900 during
the corresponding period OF last year
a gain of 8.8 per cent.
Notes in Financial District.
Albion K. Paris will give an addres.
before the Columbia Historical Society
in the assembly hall at the Cosmo!
Club next Tuesday evening, his sub
ject being 1.-THE History of the Wash
ington Stock Exchange" This is thu
meeting postponed from last month
on account of bad weather.
Frank P. Morse, local manager o
j. g. w. Seligman & Co, is leaving
for New York today to sail Saturda!
aboard the Lapland for an extended
motor tour in Europe. He will be &C
companied by Jesse l.. Suter of Harri
man & Co. They have secured tn
same driver who took G. B: Shipmal
on similar trip last Summer.
w w Spaid of w. B. Hibbs & CO
is in New York today attending
meeting of the board of directors o
the Association of Stock Exchang
Firms.
The American Telephone g. Tele
graph Co. has declared regular quar-
terly dividend of S225, payable Jul
Is to stock of record June 20.
Shubert Theaters has declared reg
ular quarterly dividend of SIPS. pay
able June Is to stock of record June
The George A. Fuller Co has de
clared, in addition to the regular quar-
terly dividends of $3.50 share on tn
cumulative participating second pre-
ferred stock, participating dividend
of $3.50 a share on the prior preferre
and $193 share on the second pre-
ferred stock, participating dividend
July l to stock of record June 10.
Debenture Bonds Might Help.
Farm products cost more than the
used to, suppose" said the city visito
Yes" replied the farmer. When
farmer is supposed to know the botan
cal name of what he's raisin,' an tn
chronological name of the insect ths
eats it, an the pharmaceutical name
the chemical that will kill It. some