Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-12

every mouse DullD,
when sold, how long ii. took to sell it,
etc. The report also covers the per-
centage of apartments vacant and
estimates the amount of apartment
house new construction needed when
based on the population Of the city.
The aim Is to show how many new
apartment houses can be absorbed each
year. even If some builders do disregard
the figures.
On January of this year, the report
states, there were $50 houses and apart
ment units under construction. the low
est number being built at this time
since 1928. These $50 additional houses
and apartment houses are due to be
completed by July /. The association
assumes that the reduced number Of
new buildings will take up some Of the
slack In present apartment buildings
and the number of unsold new houses
now on hand On January / there
we're LIS new houses on hand, 200
more than In January, 1929. The as
ISOLATION says that 80 of these have
been taken of the market by being
rented instead Of sold.
The report states that the number
of houses now being finished Is less
than the number being sold. For the
first, two months of this year it took
an average of 10.7 months to sell q
in 1929 it was 12.4 months. The asSo-
citation considers this an indication
that houses are now selling more
quickly and in greater numbers than
a year ago Charts contained in the
report cover the city by districts and
the information presented is sure to
prove of unusual interest to bankers.
Woman Assumes New Bank Duties.
Mrs. NJ. H. Buckingham has assumed
her new duties as secretary Of the
washington Mechanics Savings Bank,
to which position she was elected by
the directors last week. Mrs. Bucking-
ham entered the bank as q Stenog-
rapher and about seven years ago
was appointed assistant secretary. Her
new position includes that of secretary
of the washington Mechanics Mortgage
Co. and gives her the distinction OF
being one of the very few women bank
oficials in the National Capital. Mrs.
buckingham has lived in Washington
practically all her life, having been
educated in the public and high schools.
She obtained her special business train
ing in local business college.
The Federal Reserve system has un-
der way a definite credit-easing pro-
gram, Clear indications of this in the
form of an increase in the Reserve
hanks holding of Government Securi-
ties are likely to be shown in the regu-
lar condition statement due THURSDAY
Just when this easing will be re.
fected in a lowering Of the rediscount
rate. SAYS the Wall Street Journal, de-
ponds on the working out OF the me-
chanics of the situation-that Is, wnen
other factors are brought into harmony
with 4 lower rate. Action will not be
r,eciritated. nor viii it be unduly de-
iayed. Probt. ,ly It would be difacult for
officials Of the system themselves TO
saw at this time just when 1t VIII De
The apparent decision for easing
money below the present Level repre-
sents some change in sentiment wnicn
has been taking place in the last lew
weeks. The change Is dictated by pusl.
ness conditions as they have developed
over that period.
Heavy Trading in Traction.
CAPITAL Traction stock led the Wash
ington Stock Market today in ACTIVITY
A block Of 100 shares changed HANDS
at aIX. The stock opened with q sale
of seven shares at 85I4, ten shares
then sold at IS, two at S47s and then
the market closed, with the 100-share
sale.
other stocks and bonds were quiet
and Arm.
Heard in Financial District.
J. Edmonds Stodder has been made
note teller of the Columbia National
Bank, following the recent death OF
Robert L. Russell, who held the same
position in the bank for many years.
MFR. Stodder went with the Columbia on
February 20, 1925, and has made rapid
strides since that time. He is the son
of Carl Stodder, who Is prominently
connected with The Evening Star Co.
William J. Chewing has resigned his
position with the Washington Loan q
Trust Co. and is considering entering
the brokerage field. He has been con-
nected with the trust company for sew
eral wears at the time of his recent
marriage being employed at the West
Enc once, at Seventeenth and G streets
northwest.
Arthur Foraker, manager OF the
washington once of Eastman, Dillon g.
Co., is spending two weeks on q vaca-
ton In Florida. The South has drawn
an unusually large number of local
brokers during the present Winter sea-
son.
At the annual meeting Of stockhold-
ers of the Becker Paint 81 Glass Co. all
officers and trustees were reelected.
They are: W. r. Winslow, president;
Joseph c. Klinge, secretary, and v. o.
Schooley, treasurer. The foregoing,
with L. A. Smithers, are trustees.
Westinghouse Electric 1929 earnings are
sl0.24 a share on 2,666,315 combined
preferred and common shares, against
1918 a share on 2,370,063, combined
shares In 1909 the Wa ShinOt0n office