Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-24

ried out by the
Washington Gas
Light Co. in sew C. ]. GockeIer.
eral years.
The purpose of the new issue is to
raise funds for the paying off of GER
tain bank loans and for general expan-
sion. It will be recalled that the COM
pany recently took over the Alexandria
gas plant and in other ways Is now
entering upon an extensive expansion
program.
The gas company has been estab-
1ished for 80 years and directly or
through aff1liated companies now serves
o population in and around Washington
estimated at 100000. The 100000
issue was offered by syndicate OF In
vestment bankers.
GOckeler Starts Sixth Term.
o. j. Gockeler, who has just been
reelected secretary OF the washington
Stock Exchange, has started on his sixth
term In this important office. MT.
Gockeler is one Of the most enthusiastic
members of the Exchange, having held
seat for many years. He Is vice pres.
ident of the District National Bank and
was formerly widely known as secretary
Of the Washington Board Of Trade.
He is treasurer of the Washington
Auditorium Corporation, member OF the
National Press Club, Blue Ridge Rod
and Gun Club and the Columbia Coun-
try Club. He is a director in the
Chapin-SackS Corporation and has
other business Affiliations. An ardent
Washingtonian, Mr.. Gockeler has al
ways lived in this city.
Thrift Week Plans Begin.
Extensive plans for observing Ma
tional Thrift week, January 1928, were
made at q meeting of bankers, trust
company officials, life insurance leaders
and civic organizations at luncheon
at the Bankers Club. New York, with
Adolph Lewisohn, New York philan-
thropist presiding. Marshaling their
forces under the banner Prepare NOW
for Prosperity" it is proposed to call the
attention of the citizens Of the United
States to the unusual opportunity this
season to practice the higher thrift
that includes wise spending, systematic
giving and careful investing as well as
the saving of money.
A prominent feature of the national
program will be radio broadcasting with
a Nation wide hook-up and nationally
known speakers. Among those invited
to participate are President Herbert
Hoover. former President Calvin Cool
idge, Secretary Andrew w. Mellon,
Gov. Pincf1ot, Secretary Henry L. Slim
son and Dwight w. Morrow.
Stephenson to Discuss Trusts.
J. L. McElfresh, chairman 7of the
Bank and Trust Company Co-Opera-
ton Committee of the District Of
Columbia Life Underwriters, has sent
out notices announcing the joint dinner
meeting with the flduciary section OF the
District Bankers Association on Decem-
Der at the Willard. The principal
speaker will be Gilbert T. Stephenson,
president of the trust company section
Of the American Bankers Association,
and he viii discuss life insurance trusts,
on which subject he Is an authority.
His visit here will be one Of unusual
importance on account of the position
he holds with the A. B. A. The chair
man of the underwriters committee
expects a record attendance. It Is the
first meeting Of the kind held since
last Winter.
According to figures published In the
American Bankers Association Journal
in a comparative table of school savings
in so cities, AZ schools in washington
maintained this thrift effort in 1929-30
with 5,978 students participating, and
with net savings of $44,709.02.
Although there were 440 more de-
positors. there was q falling of in de-
posts of $5,7o0,28.
Taking the country as whole, it was
found that the total amount of money
deposited in school savings in the year
ended June 80. was 100000 greater
than in the previous year and there
were registered the largest number of
students participating. since the found
ing Of the system.
TOday's Exchange Trading.
Fifteen shares of Capital Traction
stock sold at 4834 on the Washington
Stock Exchange today, the lowest price
in the history of the issue. The mar
asked.
Potomac Electric Power 5l2 per cent
preferred opened at lot and closed at
1878, In small lot transactions. Peoples
Drug Stores preferred was of fraction
ally, 10 shares changing hands at 991s
One bank stock appeared on the
board, Prince Georges Bank g. Trust
Co., selling at 80. The only other stock
transfer was in the unlisted depart
ment, where 20 shares of Raleigh Hotel
Co. sold at A..
In the bond division $4,000 Barber 8,
Ross 6 rs sold at 81 and $500 Washing
ton Gas IS, series A, at 1929. In addi-
ton to the Potomac Power and Wash
ington Railway 81 Electric stocks, Lam
ston Monotype is now being quoted ex-
dividend.
Financial District GIeanings.
Evidence of improvement in the sta
bility of business in nearly every COM
mercially important foreign country is
indicated in dispatches to the Com
merce Department from its agents
abroad. Foreign credits and collections
have been greatly improved during the
past few months due in major part to
the seasonal revival in many indus
tries and trade"
The Federal Reserve Board announced
today that the total volume of credit
at member banks showed relatively lit
tie change in the four-week period
ending November IL. Loans on securi-
ties dropped $3.50 900, 900. while other
1oahs increased $50 600, 900. The banks
increased their holdings Of investments
and money rates eaSed slightly.
The first issue Of Dollars & Sense for
the present year appeared In the finan-
cial district today This is the officia
publication of Washington Chapter
American Institute of Banking. To-
days issue is unusually interesting anc
contains a great deal Of interest to the
chapter as well as to the banking fra
ternity at large.
An optimistic view of the future o.
Washington is expressed by Presiden
John r. Waller OF the international
Bank in a recent letter to shareholder!
in which he states that the institution
Is fortunate in being located in the Ma
tional Capital, where workers are pros
porous and business Is sound.
Stanley Co. of America, over 90 PEE
cent of the capital stock of which L
owned by Warner Brothers Pictures
reported for the year ended August 81
net profit of $l.366,992. In addition