Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-02-04


preceding year. Debts to individual
accounts were larger. more cotton was
consumed in the districts mills and
there was a slight betterment in the
total amount involved in commercial
failures.
A decline in employment is seen in
the past six weeks, due to seasonal in
f1uences, the survey states. Textile mills
in December, the Richmond report
states, consumed less cotton than in
the same month last year, but for the
year there was a gain. Coal produc-
ton in December was better than in
December. 1928.
The tobacco market was reported
strong, with prices better than earlier
in the season.
Irish potato growers, on the other
hand, received approximately three
times as much per bushel for their 1929
crop as they did in 1928.
Building operations in December
were 40.5 per cent lower than in that
month of 1928. Richmond and Balti-
more reported increases, but Washing
ton, Norfolk, WinSton-Salem and Char
lotte were off, the decline in Washing
ton being nearly S5,500,000.
Last week the Federal Reserve Board
IN Washington reported that retail trade
in this district in December, 1929 was
1.6 per cent above December, 1928. The
report also showed that it was better
than any of the IL other Federal Re
serve Districts. The comparative steadi-
ness of the Governments pay roll in
Washington undoubtedly accounts for
this happy condition, the national de-
preston since the stock crash being felt
much less severely here than elsewhere.
Father Holds Amazing Record.
William ]. Father, vice president of
the Riggs National Bank, was today re-
ceiving congratulations on rounding
out So years of continuous service with
the Riggs National Bank, remarkable
record. His long connection with the
bank is exceeded only by that OF
Charles C.. Glover, chairman of the
board, now inactive because of i'll
health.
1t was on February 4, 1877. that Mr..
Father became connected with Riggs
e. Co. as messenger boy He advanced
steadily and remained with the original
company until the firm was converted
into the Riggs National Bank in 1896.
Many years ago Mr.. Father was adj
Yanced to the vice presidency.
Mr.. Father is in excellent health, is
at the bank every Cay and turns of
more than his full share of work, the
SO years in banking apparently resting
lightly on his shoulders. During his long
career he has naturally come in con-
tact with great many prominent bank
ers and other fnanciers of national as
well as local fame. Few bankers in the
city are in closer touch with local finan-
cial conditions or are better informed
on all the latest moves in the banking
field.
New Record for American Ice.
From the standpoint of both sales of
ice and earnings, American Ice Co.
established new high records in 1929.
In the face Of exceptionally unfavorable
weather during August, last year, ice
tonnage showed net gain of $4,000
tons and net income was up about
$500 900, equal to about so cents share
on the common stock.
Years net will be around So, $50, 900
or about S4.40 a share on 500, 900 COM
mon shares. after allowing for dividends
on the $50 900 shares of preferred stock.
This would compare with net income
in 1923 of S3,252, 1862, or 1892 a common
share, and with S2y651 ,090. or S295 a
common share, in 1927. Such earnings
will include homecoming income of APP
proximately S225,000 received as profit
on sale Of properties. Earnings from
operations, however, were in excess of
those for 1923.
AhsAkAsN %NCdAs OOdAs
Washington Chapter, American Insti-
tute of Banking, has recorded about $50
registrations for the second semester
according to the chapter president,
A. E. Henze. About 20 more students
are needed to equal last years enroll
ment, and it is expected that this num-
Der will be reached in the next few
days.
The chapter has sent out invitations
for the coming twenty-flfth annual din
ner, which takes place at the Willard
on the evening of February %. An at
tendance of over 800. which is capacity
is anticipated by the committee In
charge. Many out-of-toWn guests have
already accepted invitations to be
present.
Much interest is already being mani
Tested in the first institute forum of
the season. DR.. Schultz has motion
pictures which show the educational
training given all employees connected
with the New York Stock Exchange
and also views of the Exchange in
action. He already has many friends
mere, as he attended the annual A. I. B.
convention at Tulsa, meeting all the
Washington delegation and travelling
with them.
Review Covers Warner Brothers.
Hartman & Co. has brought out an
analysis of Warner Brothers Pictures,
Inc, showing the growth of the firm in
the motion picture industry, also taking
up the companys prospects, manage
ment and financial condition. The
review IS particularly timely right now,
as most Of the stocks in the amusement
group on the New York Stock Exchange
are unusually active
In yesterdays trading alone there was
a turnover of I29500 in Warner
Brothers, $4,000 in Paramount, II 100
In RadiO-Keith, 1900 in Loew's, Inc,
and $500 in Pathe. And these are only
a portion Of the amusement issues. A
review Of Warner Brothers will be close
ly studied in Washington, as this COM
pany owns the Stanley Co. which in
cludes the Crandan theater group In
this city.
Business Dull on Exchange.
sign, reading game called on &C
count OF rain and wet grounds" might
have been hung on the door TO the
palatial trading quarters of the Wash
1ngton Stock Exchange today. Busi-
ness was confined TO six transactions
all but one in bonds.
washington Gas Is, series 3. sold al
los, while 1000 Gas IS. series A
changed hands at 1887. Capital Trac-
ton 5s sold TO the extent of $500 at so
and $1,000 at 93K.
Two small stock sales were recorded
IN Potomac Electric Power 6 per cent
preferred at 112. The annual report
OF the Washington Gas Light Co. ap.
parently made strong impression
When the market closed today the bic
price was still lot and the asked price
had advanced to 100, an unusuallI
wide quotation spread.