Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-13

man Woodward is 49,
most enthusiastic
over the outlook, a'.Aaza -
and other local Claude II. Woodward
bankers are ex-
pressing a great deal OF interest over
going to a new place this year and
especially to Asheville and the Grove
Park Inn which Is so widely known as
q resort hotel.
Chairman Robert S. Stunz Of the
sports committee, has announced the
following program of special events;
June 5, at 2 o'clock in the afternoon
golf tournament for the Pop" Fleming
trophy; June 6, at 2 o'clock in the after
noon. golf tournament for the William
same hour, the bankers handicap tour
nament will be played. Players in this
will be divided into two classes, one
competing for the Herbert T. Shannon
cup and the other for the Lanier P.
McLachlen cup.
The tennis tourney for the Coleman
Jennings trophy will begin on the after
noon of June 6, at 1880 O'Clock, and the
finals will be played Saturday at the
contest will be held on the morning OF
June Z, at 10 o'clock, and the indoor
putting contest may be played any time
during the convention up to 4 O'Clock
on the afternoon of June Z. The top
spinning contest for the Edward B. Nc
Lean cup will be held at 1870 o'clock on
the afternoon of June 6.
The programs for speakers, entertain
ment and all other features OF the con-
vention are completed, according to the
general chairman, George Q. Vass.
Coast Lines Odd Situation.
The Atlantic Coast Line Railroad Co.
IA confronted with the necessity OF re-
placing five miles of line in Florida, be-
tween Yuste and Monticello, which 1t
had abandoned and dismantled without
permission of the Interstate Commerce
Commission.
The situation arises out of COM
missions refusal to authorize the aban-
donment and its dismissal of the roads
belated application on the theory that
for commission to regard the line, which
has been removed, as legally existent Tor
the purpose of the case, would amount
to a ratification of an illegal act.
Road Is faced with mandamus is
sued by Florida Supreme Court, on the
suit of that State, compelling 1t to
mandamus has been withheld as q
matter of comfy pending outcome OF
the case before the commission.
Oficials say abandonment was on the
theory that commissions order author
ling construction Of line from Mon
ticello to Perry, which was intended as
q substitute for the Yuste-Monticello
segment, also permitted abandonment
of the fstter section. ,,'-r
American Stores Sales Up.
American stores Co. reports for the
five weeks ended May 8, 1880, sales OF
$14,090,912, an increase OF $685., 241
when compared with the five weeks
ended May 4, 1929. For the period
from January l to May 8, 1880, the
sales aggregated $49,660, 357, against
$49,042,0 in the corresponding period
Of last year.
The Federal Reserve Boards condi-
ton statement of weekly reporting
member banks in leading cities or
May z, made public here today, shows
decreases for the week of $l08, 1000 ,00t
in loans and investments, 1854 ,000, 00C
in net demand deposits and $45, 000.-
600 In Government deposits, and in.
creases of $24,o00,0o0 in time deposits
and $4,000 900 in borrowings from Fed
eral Reserve Banks.
Bankers to Visit Baltimore.
Several members of the safe deposit
section Of the District Bankers Asso-
citation will be the guests tonight Of
the Baltimore Safe Deposit Association
Following a dinner there will be dis.
cussion Of several important safe de-
post topics. Among the Washington
bankers who will be present are Charles
E. Howe, chairman Of the local safe de-
post section; Joseph D. Yerkes, Sec
rotary of the section; H. w. IRELAND
of the American Security & Trust Co.
and j. M. Boteler of the National Saw.
ings & Trust Co.
On the washington Stock Exchang,
today Washington Gas Bonds, series A
sold at 1919 on $500 and 5000 trans
fers and the series B bonds came on
at los on two $500 and one 81 600 sales
In the stock division 20 Norfolk &
Washington Steamboat rights sold a
IT, Columbia Sand & Gravel sold a
s5, Mergenthaler Linotype at lot, ant
Federal Storage preferred at 100.
Financial District Notes.
Invitations have been issued by Presi
dent Maurice D. Rosenberg of the Banl
Of Commerce d Savings to officers, di
rectors and employees to an outing a
the Town and Country Club next Sat
urday.
Several teams IN the District Ma
tional Banks new business contest hav
already reached their quota allotmen
and are swinging along well on tn
road to doubling the original mark sci
The New York Stock Exchange ha
admitted to dealings: Imperial Japa
nese government $50 ,o00,0 900 externa
loan of 1890, 35-year sinking fund 81
per cent gold bonds, due May l, 1855
when issued.
Now that stock prices have been re
adjusted to the cold realities in tn
business situation, says the Unite
Business Service, in this weeks repor
it might appear that caution is n
longer necessary. 1t is, nevertheless
because some stocks are not going
snap back as readily as others, an
many are likely to remain in tn
dolrums until signs of betterment 1
trade and industry become substan
TALLY more widespread than they are 9
present.