Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-17
D. c. EXCHANGED LED
BY MERGENTHALER
Stock Closes at 107 After
Days Turnover of 1877
Shares-0ther Notes.
BY EDWARD c. STONE.

BY EDWARD c. STONE.
IN the final trading of the week on
the Washington Stock Exchange. Mer-
genthaler Linotype took the lead in
volume Of turnover. The stock opened
ut 1os and dropped by fractions TO lot
at the close, the days transactions in
Volving nine sales totaling 1877 shares
The last sale Of the day was block Of
100 shares.
Riggs National Bank stock was
strong, five shares commanding 533.
Washington Mechanics Savings Bank
was the only other stock of this class
appearing on the board, 20 shares SELL
ing at so. Thirty-five shares of Lam
son Monotype sold at the recent price
of 125.
Potomac Electric Power 5ia per cent
preferred sold at 1881, while 20 shares
OF Peoples Drug Stores preferred also
changed hands at the same figure.
Forty shares Of Carpet Corporation sold
at 26%.
In the bond division $4,000 Wash
ti1gton Gas S. series A, sold at 102;
$1,000 City g. Suburban SIS sold at 81
and $4,000 Capital Traction SIS at s6
The unlisted securities we're called of
and showed no important changes dur
ing the week
Bankers Oppose Senate Bill.
At meeting of the council of admin
istration of the District Bankers ASSo-
citation late yesterday opposition to the
Senate bill regulating the foreclosure of
mortgages and deeds OF trust in the
District of Columbia was formally ex-
pressed and the committee on law and
legislation was authorized to appear at
the hearings.
The council meeting was called espe-
cially for consideration Of this matter,
and action was taken following the
committees recommendations that the
Bankers Association oppose enactment
OF the bill as written. Among the most
important objections expressed were the
fear that home buyers would have
greater difficulty in obtaining loans of
the size now available; that the bill
would tend to increase interest rates on
such loans, and that rates Of commits
sion and other costs of procuring such
loans might be increased.
From the standpoint of the lender, 1t
was declared expenses in foreclosure
would be increased: the delay in fore
closing would tend to keep outside capi-
tai from seeking investment in real
estate loans in the District, and that
where small-priced payments now make
IL possible for many people to be home
buyers, instead of renters, this law
would likely discourage selling OF prop
erty on small cash payments except by
contracts of sale where the title remains
In the seller.
Earlier Closing Issue Comes Up.
Next Monday afternoon at 4 o'clock
the District Bankers Association will
hold regular meeting. The question
of earlier closing hours for the city's
banks will come up for consideration.
This matter was placed before the
local banks about three years ago, but
shorter hours we're not adopted, because
no unanimous agreement could be
reached at that time. Since then the
earlier closing idea has been adopted
by a great many banks outside OF
Washington and sentiment in favor Of
the shorter business hours is believed
to have increased in this city.
The idea is to close the doors to the
public an hour earlier every day, so
that the officials will have more time to
attend to their mail and other matters
that need uninterrupted attention.
Under present conditions some of the
local banks close at o'clock, others at
4 and on Government pay days at
or $50.
At Mondays meeting several commit
ports before the annual convention.
Brawner Elected Vice President.
John F. Brawner, son of the late
John w. Brawner, has been elected
vice president and general manager of
WaggaInan, Brawner & Co., Inc, in
vestrnent bankers, taking the place of
Frank B. Pryor, who resigned, owing
to ill-health. Thomas z. Kelley, as
Sistant treasurer, has been elected sec
rotary and a member of the board OF
directors.
Dunlop Made Assistant Manager.
A. McC. Dunlop has been appointed
assistant manager of the Washington
Office of Maynard, Oakley 81 Lawrence,
members of the New York Stock Ex-
change. He was connected with the
Washington office Of Eastman, Dillon
q Co. for a number of years. The
young broker is a graduate of Prince
ton, class of 1928 where he was mem
Der of the Princeton Charter Club and
active in several undergraduate organi-
cations He is a member of the Chevy
Chase Club.
c. g. o. First Quarter Earnings.
Chesapeake g. Ohio Railway will re-
port first quarter earnings equivalent tc
nearly SIS a share on its !, 49,, 1855 COM
mon shares. This would compare WITH
$5.T6 share earned on ], 180 $40 shares
in the first quarter last year.
Roads net operating income was ad-
versely affected in February and Marcf
by reduced revenues from its coal trafnc
Principal reasons for decline in Goa
loadinRs were the unseaSonably warm
weather and the smaller industrial de.
nand as compared with year ago.
Coal traffic on the Chesapeake 3
Ohio for the last week in March, how
ever, showed gain over last year, anc
the road was one of the few in tht
country to show an increase in tota
loadings in that week over the CORE
spending period year ago.
Another factor tending TO reduct
Chesapeake g. Ohio'S share earnings II
the first quarter is the larger number o.
shares outstanding as compared with
last year.
Heard in Financial District.
julius H. Barnes, chairman of thu
National Business Survey Conference
said today that reports from many
sources indicate that the emphasis laic
upon repairs and bettermentS as a con
business has been effective. Permits is
sued for this purpose show a Substan
tial growth. Since the early part o
the year the average daily permits TO
additions, alterations and repairs hav
increased 80 per cent. The stimulu
given these activities has aided appre
ciably in relieving unemployment.
The sixty-ninth meeting of tn
board Of governors of the Investmen
Bankers Association of America will b
held at the Greenbrier Hotel, Whit
Sulphur Springs, w. Va, May IL to II
inclusive. About $50 officers, governor
hot