Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-12

cr are neIplflS DuS- :x#s::::%:::::::3
mess in the New
York area, which M N
is maintaining the
average of late
January. r tail -
trade has been re- C. Francis Jenkins.
tarded in New '
England by bad weather and influenza
but business is called generally salts
factory. Philadelphia reports marked
increase In new building contracts, but
considerable unemployment.
The Richmond report stresses the
awarding of the $5,799, 900 contract for
the Internal Revenue Bureaus new
building in this city and the calling for
bids on the $17,000,000 Department OF
Commerce building. Leasing of the S.
900 900 municipality owned grain ele-
vator at Norfolk by the Norfolk 81
| Western is the recent outstanding in
dustriaI development in this section.
| The Chicago Reserve Board report
features wholesale trade activity. Buy
ers are visiting the city in great num-
bers. Department store sales are re-
ported as favorable in st. Louis. Re
tail trade in Kansas City, Minneapolis
and San Francisco is also reported as
more active.
Noted Inventor Joins Bank Board.
Recent election of C. Francis Jenkins
of this city to the board OF directors
of the Merchants Bank & Trust GO.
brings into banking circles an inventor
of international reputation. 1t Is rather
rare that science and finance are thus
linked together. Mr.. jenkins is pest
known because of his invention or the
motion picture protector which is now
| in Use in all the theaterS in the coun-
try and of his similar relation to tele-
| vision. He has made a host OF otner
scientific discoveries Of hardly less I'M
portance than these two.
Member Loans Gain S133,0O0,0oo.
The Federal Reserve Boards weekly
condition statement of reporting mem
Der banks in leading cities on FEBRUARY
! 6 shows an increase for the week OF
$133, 100000 in loans and dechne Oh
| $l2.OOG, 900 in investments.
| Rorrowings from Federal Reserve
banks increased $39, 100000 and net de-
mand deposits $4,000, 900, while Gov
| eminent deposits declined $34, 1000 ,O0O.
Loans on securities were $112,000,O00
above the January 80 total of all report
| ing banks, the principal changes IN
| this item by districts being increases OF
| s63 600 900 in the New York district,
SIG 900 900 in the Chicago district,
S1500O. 600 in the Cleveland district ana
100000 in the Philadelphia district,
and a decline of $4,000, 900 in the Bos-
| ton district. 900
600 at reporting banks in the New xork
district and $2l 100000 at all reporting
| banks.
Commodity Prices Advance.
Prices of commodities during the
| week ended February advanced one
| tenth of l per cent, according 10 tne
wholesale price index Of the Nationai
| Fertilizer Association.
The chief items In this Slignt aovanCe
| were butter and copper, with siignI az
vances in hogs and certain punonis
| materials. A material decline occua t;s,a
| in hides. which Is a very indicative
| market. NV
The recovery of one-tenth OF ! per
cant did not OFFSET the decline OF three
tenth, of / per cent for the previous
| week.
washington Gas Officers Reelected.
The board of directors OF the WASH
| ington Gas Light Co. eiected at Lle
annual meeting of shareholders Fepru-
ary 4 met today and reelected Objects
as follows: 1919
Weaver, vice president; George "a
/ Whitwell, secretary; Edward I. StaI-
ford assistant secretary; Thomas B.
Gardner. second assistant secretary;
lawrence Townsend, treasurer; A. Gray
| Dawson. assistant treasurer; Frank n.
! Holt. second assistant treasurer; Rich
ard A. Ennis, controller; c. G. Bayly,
assistant controller; John L. Schick,
| assistant controller, and Minor, Gatiey
& Drury, general counsel.
Cleaned in Financial District.
r. Golden Donaldson, president OF
the Commercial National Bank, Is now
in Cuba, after spending part OF MS
Winter outing In Florida.
| w. j. Waller, vice president OF the
Federal-American National Bank, VIII
attend the annual banquet OF New
| York Chapter, American Institute OF
Banking, Saturday night. Last year
1000 member guests attended this din
ner.
| The trust section conference OF the
American Bankers Association viii open
| tomorrow in New York. A particularly
| fine program has been arranged, one OF
| the speakers being Joseph s. MCCOY OF
the Treasury Department.
In their recently enlarged boardroom
| w. B. Hibbs & Co. have adopted the
plan of placing the names OF all cor
| porations on the board. This Is IN ad-
dition to the trading symbols and is OF
particular value to those not accustomed
to these symbols
Railroad Earnings Reported.
The Chesapeake g. Ohio Railway
earned $24.29 a share on 1871, $50 COM
mon shares in 1928, against $24.08 a
share on 1,178,105 shares in 1927.
/ The Atlantic Coast Line earned $10.24
per share on the common stock in
1923, compared with $1195 share on
the same stock in 1927.
The Commercial Credit Corporation
earned $4.01 a share on the 691 ,407
average number of common shares out
standing in 1928, against 81 05 a share
on $50, 900 shares in 1927
The Virginia Electric & Power Co.
has declared regular quarterly dividends
OF $3.50 on the per cent preferred
and SITS on the per cent preferred
both payable March 20 to stock of
record February %.
The local broker houses were silent
today because of Lincolns birthday, but
the offices were kept open with skele-
ton forces. All local banks were open
as usual Maryland bankers, however
were resting from their labors, either
following or setting the example for the
New York banks, which were also closed
The feeling Is almost universal among
! Id, kIaaA