Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-01

assisting. Edmund D. Rheem.
President Robert
v. Fleming of the Riggs National Bank,
has donated a handsome silver cup to
be competed for during the afternoon
of golf which always precedes the eve
ming dinner The golf competition is
open only to active bank officials and
partners in brokerage houses which are
members of the bankers association
The winner of the cup will have his
name inscribed on it and hold the tro-
ply for q year or longer, if he is able
to capture it two years in succession. :.
Lanier P. McLachlen, president OF
the banking corporation by that name,
and c. H Pope. vice president OF tie
Munsey Trust Co., are in charge OF
arrangements for the dinner. President
w. J. Waller expects record turnout
of local bankers.
Investment Firm 81 Years Old.
Swartzell, Rheem g. Hensey, mortgage
bankers, located at 727 FIFTEENTH street
northwest, today are celebrating the
FIRMS sixty-flrst birthday anniversary.
They have received host of congratu-
Iatfons from their regular customers and
q host of business associates throughout
the financial district. The company
started business ON Seventh street, but
has been in its own building for several
years In the heart Of the banking
section.
The firm was organized by George W.
=. Swartzeli, Clarence p. Rheem, Alex
ander T. Hensey and Luther A. Swart-
zeIl. They started the concern on the
way to solid business success. For six
decades the company has maintained an
enviable reputation, which has extended
far beyond the limits of the National
Capital.
The present officers include Luther A..
Swartzell, president; Edmund D. Rheem,
son of one of the founders, first vice
president: j. Newton Brewer, second
vice president; John H; Holmead'
treasurer; George F. Hunt secretary,
and Harry T. Domer, general counsel.
Local Bank CIearings to Date.
washington bank clearings so far
this wear have reached total of $685.
STS,17242 In comparison with total Of
$50, 1888 ,260.68 in the corresponding
period Of the first three months OF
1929. Comparison by months follows:
Month. 1880. 1925.
February ........ ee545212 lose4se4o
March ........... ll4llS6ss lSl'7soszS
Total ......, s32S.s7S, 172 s370.ss326o
The above tabulation, which does
not include the cents in each total,
presents an interesting picture OF busi-
ness conditions so far in 1880. The
first Of the year it was predicted that
business here and all over the country
would start of slowly and gain momen-
tum as the year progressed. To meet
last years clearings in this city, some
sharp advances will have to be re-
corded later in 1880.
Good Business on Exchange.
Another good days business was re-
corded on the Washington Stock Ex-
change today. Washington Gas bonds,
series A, were in good demand at 1O3.
Gas B bonds came out on the board at
los. Capital Traction IS sold at 96B
and 96.
In the stock division single share
Of washington Loan g. Trust Co. stock
sold at 500. Real Estate Title Insurance
Co. moved at 1855, Title Insurance Co.
of Maryland, common, sold at 20 and
so shares OF Lanston Monotype az
1l41a.
out at 81. dropped a half point and
closed where it opened. Capital Traction
figured in a 5S-share turnover at 70
and Potomac Electric Power 512 per
cent preferred changed hands at 1924.
GEORGETOWN Gas sold at 101 and the
last transaction of the day was sale
Of six shares of National Bank OF
Washington at 248.
Concern Pays Three Dividends.
The Continental Finance Corporation
Of New Jersey, which has ofices in the
Second National Bank Building, 1881
q street northwest. announces the pay
faent today of the regular quarterly
dividend of Is cents per share and an
extra dividend Of 81 cents per share on
the company's preferred stock to stock
holders of record on March IS. A divi-
dend Of 81 cents per share also was paid
today on the company's common stock
to stock of record March Is.
8 Charles Delmar, formerly manager OF
the Washington Office of the WimSett
Co. which was sold to another firm not
long after 1t was established here, now
Is connected with the local Office of the
above corporation.
Convention Dates Set.
October IL to is, inclusive, have been
selected as the dates of the nineteenth
annual convention of the Investment
Bankers Association Of America, to be
held in New Orleans.
A new form Of program, recently ap-
proved by the associations board OF
governors, will become effective at this
meeting. Instead of running for sis
days, as heretofore, the convention viii
run from Sunday to Wednesday, g
time viii thus be saved for the dele.
gates. About 1000 investment bankers
from all parts Of the United States anc
Canada are expected to attend.
The following are the members of the
associations 1880 convention commit.
tee: Alden H. Little, Chicago, executive
vice president, Investment Bankers AS.
ISOLATION, chairman; Walter T. Collins
Hemphill, Moves 81 Co., New York; Lar;
r Jones, New On leans; George H. Nus.
loch, New Orleans George w Robert.
son, New Orleans; Kenelm Winslow
jr., Seattle; Kelton E. White, St. Louis
Harold E. Wood, Chicago, and E. C
Wampler, Chicago.
Financial District Brevities.
Frank Owings, who recently resigned
as cashier of the Bank of Commerce
Savings, after 16 years service, viii b
rendered dinner by the officers anC
directors tomorrow evening at the Am
bassador Hotel.
+. B. Keechl g. Co., members of thu
New York Stock Exchange, announces
that J.. Clarke Dean has been admitted
as a general partner in the firm, effec
tive April !, 1880. They also. announce
the retirement of Charles Reed as
general partner and I. Chauncey Nc
Keever as special partner, effectiv
March 81.
The Interstate Commerce Commits
sion has authorized Erie Railroad to is
sue and sell $50 900 900 of its s per cen
refunding and improvement mortgag
gold bonds series 1880 at 931z per cent
The Virginia Bankers Association
win have its annual convention thi
year at Hot Springs, June 1928.
The Maryland Bankers Association
VIII meet this year for It's annual con
vertiQn &c Atlantic City On May 2
and 22ss