Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-23
capital TRACTION
FEATURES TRADING
49,
Stock Drops to New Low
-. .s1.9 on Exchange, but
tz1 n
-kt.~saf nGCUV6TSs
BY EDWARD c. STONE.

BY EDWARD c. STONE.
Trading was again quiet on the Wash
ington Stock Exchange today Capita
Traction dropped to new all-time low
but the final quotation was the same Al
yesterday. The market opened with II
shares of the stock changing hands a.
6OZ but after call 81 shares sold at 81
The closing quotation was 50%4 bid anc
61ix asked.
Washington Railway g. Electric pre-
&erred, which has recently figured In ar
unusually large turnover, sold to the
extent of 80 shares at 981a, the same az
other recent quotations. Potomac Elec'
trio Power per cent preferred wa:
firm at Ill.,. Eighty shares OF Ma.
tional Mortgage & Investment preferred
moved at 5.
snInt the bond division two $1,0)0 sales
were recorded in Anacostia & / otomac
r. r. IS at 80, and one sale in Wash
ington Gas 6s, series A, was recorded al
1924. The ex-dividend list was en-
larged by the addition of Washington
Loan g. Trust which pays the regular
quarterly dividend in few days.
Loan President Coming Here.
r. Holtby of Los Angeles, president
Of the United Gates Building and Loan
League, will visit the District Of Colum-
bia Council of Building and Loan
Associations next Wednesday and be
the guest of honor at dinner, at the
Ambassador Hotel,
Edward C. Baltz is president of the
local council, Chaplin B. Bauman, vice
president: William S. Quinter, secretary,
and William Neuland, treasurer. Officers
and the following form the Executive
Committee: c. Clinton James, James l..
Sherwood. James F. Shea, John B.
Geier, George M. Emmerich and Carl
C. Bergman.
On January 3. 1881, a group OF men
met in back parlor in Frankford, Pa,
and laid a few hundred dollars on a
table. organizing the countrys first
Building and Loan Association. On
January 3, 1881, the building and loan
business. grown into billions of dollars,
will celebrate it's hundredth anniversary
in hundreds of modern offices, where
thousands of people lay their money
down every month on grilled tellers
windows.
The United States Building and Loan
League is in charge of the plans 70
honor the Pennsylvania cities VINO
founded this business.
Resources of Local Banks.
Resources of Washington's 40 banks
on September "a were $326,633, 900,
an abstract of reports of condition
Of local institutions made public by
the Office of the controller OF the
currency shows. This amount was
$780, 900 in advance of resources on
June 30, date set by the controller s
previous call, but 1881 900 behind
those of Al banks on october 4, 1929.
date set by the corresponding call OF
last year.
Resources of the IL national hanks
September "a aggregated Sta, 199, 600;
those of the % savings banks, S48,-
10000, and those or the six trust COM
panies, $io4,S06,0OO.
Made Rubber Exchange Head.
John L. Julian. a partner in the
Stock Exchange firm of Fenner 81
Beane, has been elected president OF
the Rubber Exchange of New York,
to succeed r. r. Henderson, who has
been president of the exchange since
its organization in 1925.
William A. Oyerton, who Is with
George H McFadden g. Bros, was
elected vice presidents and 3D. Chester
Cuppia of E. A. Pierce 81 Coz was re-
elected treasurer.
Firm Opens Boston Once.
Eastman, Dillon 81 Co. announces
that Laurence B. Leonard has become
associated with its investment de-
in Boston. Mr.. Leonard was formerly
sales manager for Brown Bros,
and is a trustee of the Lynn Five
Cents Savings Bank This Is the first
representation which Eastman, Dillon
& Co. has had in Boston, according
to Arthur Foraker, manager Of the
Washington Office.
Candy Business Is Improving.
During September 435 manufacturing
wholesale and retail candy concerns had
sales of $50 ,634,l73, an increase of 47.2
per cent over August sales and 141
per cent below sales in September, 1929,
Commerce Department reports.
Sales by 391 wholesale manufacturers
amounted to $26,804 ,2l2, an increase of
46.6 per cent over August. but a de-
crease of 1913 per cent below Septem-
Der year ago.
Sales by 80 manufacturing retailers
were $1,5l7726, a decrease Of % per
cent under August and 2.3 per cent I'M
der September, 1929.
Heard in Financial District.
B. Gwynn Dent, assistant cashier in
charge of the foreign department of the
Riggs National Bank, and w. H. Taylor,
chief teller in the same institution, were
given happy surprise on the occasion
of their recent birthdays. In some way
the clerks and stenographers found out
about these two important events. The
girls got busy and made two big birth
day cakes. and not knowing the exact
ages, placed rs candles on each cake
They came within 80 or 40 years of the
right ages and the presentation Of the
cakes proved the most interesting and
important event of the day in the bank
The Pennsylvania Railroad has de-
clared the regular quarterly dividend OF
81, payable November 20 to stock OF
record November /.
Grip is getting hold of some of the
local brokers. w. We Spaid, partner
in w. B. Hibbs g. Co., was back at his
Office yesterday after being confined to
his home with the prevailing illness
G. Bowie Chapman, resident partner
in Hartman g. Co., is confined to his
home with the same illness. He hopes
to be out tomorrow.
George Z. Fleming, vice president OF
the Union Trust Co., was back at the
bank today after a months vacation
most of which he spent in New England