Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-06-18

ed are John L.
Newbold, ST., presi- ~
dent; Ben L.
Prince, first vice
president: G. B. John r. Waller.
Buck. second vice
president; David P. Smith, third vice
president and secretary, and John l.
Newbold, jr., treasurer.
The quarterly dividend of $1.75 per
share on the preferred stock was de-
clared. as we'll as semi-annual olVl-
dend of SIS per share on the common
stock. Books will be closed for transfer
from June 81 to June 80, inclusive, &C
cording to announcement of Secretary
David P Smith following the meeting
Both the preferred and common stock
Of the company are listed on the Wash
tngton Stock Exchange. The common
last sold at 10 and the preferred at
100.
Bank Has Plans for Expansion.
II Is announced that the plans for ex-
handing the branch Office of the Wash
knrton Loan & Trust Co., at Seven
feenth and G. streets northwest. will be
carried out next Fall. The officers OF
the bank already have the plans, these
showing that the safe deposit depart
ment on the street floor will be moved
to the basement. It Is in the basement
that the most important changes must
be made to accommodate safe deposit
vaults and also provide ample room for
customers when using their safe deposit
boxes.
Removal of this department from the
main floor will furnish needed space for
other departments of the bank and
supply additional lobby space If needed.
The growth of the West End branch
has surprised the banks officials. When
S~..sIA q
ago it was expected to care for all needs
for a long period without any changes.
However President John B. Larner and
his associates have no objections to en-
1arging the banking rooms as often as
business compels such action.
Charles H. Doing is manager OF the
branch. having held this position ever
since the office was opened.
Accountants Elect Governors.
At the annual meeting of the District
of Columbia Institute of Certified Pub
lie Accountants, held at the Chamber
of Commerce of the United States, the
following were elected to the board of
governors: Harold C. Anderson, Wayne
Kendrick and Arthur j. Linn. The
membership of the board now consists
of the three named, together with Oscar
j. Bernstein, James B. Grice, Howard
C, Beck and Dwight N. Burnham. I'M
mediately after the meeting the board
named the following officers for the
ensuing year: Dwight N. Burnham,
president: James B. Grice, vice presi-
dent, and Oscar j. Bernstein, secre-
tary-treasurer.
Local Auto Sales Up 10 Per Cent.
Sales by companies affiliated with
the Washington Automotive Trade AS
1takS lwa sVznW sod
the first five months this year as COM
pared with the same period in 1929,
officials announced today.
The report disclosed that dealers sold
21.O70 used cars for District regiStra-
ton from January / to June 10, as
AGAINST 1929 during that time last
year Practically no change was shown
in the transactions involving new cars,
e,7i7 being sold so far.
OficiaIs of the organization also were
encouraged by statistics revealing there
had been a decrease in repossessions
while the number of cancellations OF
new orders had grown less than one
half of l per cent. The figures were
interpreted as indicating that residents
of Washington are in q sound imam
cial condition.
Waller Addresses Yale Law Grads.
John r. Waller, president Of the In
ternational Bank, on Jackson place,
was one of the speakers last night at
the 1905 Yale Law School class dinner
at New Haven. Mr.. walters subject
was "Hadley and Taft"
w. w. Spaid of w. B. Hibbs & Co.
Is in New York attending a meeting
of the board of governors of the out
of-town section of New York Stock EX-
change firms.
where is the bottom" was the one
question being asked in the local brok-
erage houses today as stocks took an
other tumble at the opening.
Some local financiers believe that
New York bankers ought to come for
ward and support the market, just as
they did in the November break. The
banks have too many loans on stocks,
they say, TO sit quietly and watch Sc
curities go lower.
Members of the auditors section of
the District Bankers Associatin will
elect the executive council for the COM
ing year at meeting tomorrow evening
at Olney Inn. The present chairman
is RAYMOND G. Marx and the secretary
Arthur j. Linn.
Bernard j. Mullaney, president OF the
American Gas Association, will be the
speaker Saturday evening, June %, tr
the Romance of American Industry
series over the Columbia Broadcastinf
system.
Trading Quiet on Exchange.
Trading was moderately quiet on TIT
Washington Stock Exchange today. Thu
first sale was in Norfolk & Washing
ton Steamboat rights at Is, the marke
closing with a similar sale.
Potomac Power per cent preferred
came out at 110l2 and the 5l2 pc
cent issue moved at 1862 and 107 Rail
way & Electric preferred again sold a
sS14.
Mergenthaler was off on a small sale
going ex-dividend at 97lz. There wa
a 720-share turnover in National Mort
gage & Investment preferred at an
100 shares of Real Estate Mortgage
Investment preferred at z.
Carpet Corporation opened with 5
shares selling at 2112, so more at 2
and so more at 2012. Bonds wer
neglected.
BALTIMORE BOND CLUB.
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