Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-05

iOnal Bank were
arried on by Frank j. Hogan, attorne
g for the bank. and were based on
decision in a Wisconsin case. AT Tn
tine these proceedings were started
was suggested that all banks belongin
the District of Columbia Banker:
association should pay their taxes un
'ar protest, pending the outcome of thi
zion. They did so and are now en-
.sled to propcrtionate refunds.
Attorney Hogan is also the aSsocia
sons counsel and all steps taken in tn
r'ay of protests were made at his sug
ro5tion. the proper legal phrasing bein
f''rnished each bank. Bankers express
keen satisfaction today over the out
7-ne of the refund plea and becaus
decision was reached by Justice Val
~sdel so promptly. Robert v. Flemin,
IS doubly pleased, since he is hea'
/: the Riggs Bank and also of tn
s,ankers' Association.
Assemblies d. c. Exchange History.
Albion K. Paris, one of the founder
ri Crane, Paris g. Co.. and now re-
tired flnancier, has gone to the troubl,
r. arranging the history OF the Wash
.Tgton Stock Exchange in exception
a'!y interesting form. Mr.. Paris ha:
also made a scrapbook, which con-
rims g great deal of news matter thai
tas appeared from time to time regard
rs, this body. This book contains pic
tlres of exchange members, and botf
i',e facts and illustrations are sure tt
aocome of more and more value a.
me goes on.
Mr.. Paris presented the results Of his
.@oors to the members Of the exchange
- yesterdays session. The members
IRE much impressed by the work N
rs accomplished and on motion Of
t,arles J. Bell the exchange extended
9 special vote of thanks to him.
The local exchange is now nearly hall
century old and is growing rapidly ir
= volume of trading and the number
local securities listed under its rules
Fire Insurance Stocks Popular.
During 1928 the investing public
iced more than 100000 of new
soney' into stocks of fire and marine
'1urance companies. it is estimated BY
NEST Sturm. chairman of the Fidel-
--Phenix Fire Insurance Co, the Sc
1rities taken being largely those of new
corporations, although some OF the
>ld-line" companies added to theil
,7ital structures.
I'm addition to this investment,
I'd Mr.. Sturm, there was. of course
arge quota of funds placed in shares
established companies that ar
ALT in on the Stock Exchange ans
3ewhere."
Hibbs New Boardroom Completed.
The street floor boardroom at W. B
-:'abs &, Co., which has been doubled
size, was thrown open yesterday tt
- public for the first time. Thu
viding partition was removed aftel
- market closed Saturday and tn
ats installed
The bcardroom is handsomely finished
walnut and does away with over.
rnwdcd conditions which have pre-
f7iled in the past when the New Yorl
market was particularly active.
7ow end much larger order counter ha
t7cn installed and the number of tele
T-1ores also increased and new bulletin
e>ards have been arranged to carry al
Fle latest news flashes from Wal
s'treet. In addition to the big boart
socks" quotations are also carried OF
eonds and New York Curb stocks.
w. B. Hibbs, senior member of tn.
H~rc and his partners, W. w. Spaid
;rcrl w. Corby and j. T. Hendrick, ar
gocaiying hearty congratulations on TIL
striking improvements.
HcaVy 1raulnS IN BANK SHOCKS.
Trading in local bank stocks was on
IT the features on the Washington Stool
.;charga today. The market opene,
''ith a single share of National Capita
INK selling at 265 and IL more chang
t1y HANDS at 252 Riggs Nationa
'aencd ct SIT. the same as the las
sale, and then advanced to 578, d
shares selling at this high mark.
National Bank of Washington record
cd a small sale at 1924, after whicl
tve shares of American Security {
trust came out at 475. The final BAN
seek sale was in Union Trust at 353.
CHESTNUT Farms Dairy preferred sol
?. ITO and 1O934 and l097a. Two 100
s12are blocks changed hands. This stoc
Is 10 be called soon at ITO in connection
With the ccmpany'S merger with tn
National Dairy Products Corporation.
Potomac Power .6la per cent prefer
e9d was still strong at 113 and 1871
while the Sig per cent issue moved a
1904. Columbia Sand & Gravel prefer
I'd made further recovery by selling a
IS. Mergenthaler was more active to
;ay, 80 shares changing hands at I04 ,.
tational Mortgage sold at recent level,
Bonds drew considerably more at
tcntion. Capital Traction SIS opened a
loi, and Washington Gas IS at 1Ol :
and l02. Gas 6S, series A. came out a
1881 on a small turnover. Traction 5
moved UP to 1909 before the clos,
Railway e. Electric As came out at 89l
and Georgetown Gas SIS at 1011s.
Dctwilcr Opens Office Here.
Detwiler & Co, Inc, investmer
Bankers. have opened new Washing
ton branch office in the Investmer
Building. Joseph A. Mclean, for man
years resident of Washington, will b
in charge.
This is the fifth branch Office thu
DetWiler 81 Co. have opened. the Other
being in Newark, New Haven. Readin
end EaSton. L. Edgar DetWiler is one
the pioneers in consolidating water CON
p2nieS.
Among officials in Detwiler 81 CO
Incorporated, is Bernard Sieme, WI
was vice president of the America
Water Works Association and for mar
years has been connected with Il
water works system of Baltimore.
Local Financial Notes.
Robert C. Jones of G. Mp. Murpf
& Co.'S Washington Office. is in Nc
York for few days on business in col
uect1on with the firm.
Prices CT commodities during Il
week ended February 2, declined thre
tcntfS of / per cent according to u
wholesale price index of the Nation
Fertilizer Association. Seven groups
ciincd and only two advanced. The
two were foods and fats. The large
declines occurred in live stock, meta
fuel, miscellaneous, mixed fertilizer, al
textiles.
President w. j. Harahan, of Il
chesapeake e. Chic Railway announc
that improvements approximating ST.
$4,000 are to be made on this road
the near future.