Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-07

investment field one finds small COM
fort as to the indications for any radi-
cal recovery, for the passing of the
industrial dullness and for the return
Of the big men of Wall Street to the
market. One even wonders what the
big men can be doing with themselves,
If there are really any big fellows left
on the Street; what the investment
trusts are doing and how much further
the decline must 60 before the final
turn.
Eventually Orders Must Come.
1t has come to the place where one
persons guess Is good as another's, per-
haps a little better. Gradually trad
ing has moved into narrower lines as
room traders, who must do something.
keep pegging away trying to make an
honest penny. One finds tips less
numerous, but none the less dangerous
as many a person will bear witness.
Money continues in great supply and
comparatively little demand from in
terests that are entitled to borrow.
security loans are of nearly five mil
lions, evidencing the fact that the oper-
atoms today In stocks are more of the
scaIping order and not cumulative.
one OF these days there will be steel
and car orders coming into the market
from railroad companies that have been
holding of against better times, like
wise scores OF other manufacturers will
ma that the buying movement, slow
as 1t may have been, has necessitated
the replenishment of supplies and the
movement will spread for much better
times, less unemployment and eventually
some recoveries in stocks and bonds. All
records of the past will be broken If
they do not come back"
The Sinking Fund.
What splendid thing the sinking
tund is. It matters not for what pur-
pose 1T Is arranged, although the gen
eral term usually applies to provisions
lor the retirement of a bond issue at
maturity, II every bond issue provided
LOT sinking fund of sufficient amount
more saIaL-~ ano t''elf would be fewer
foreclosures. If mar would establish
a sinking fund to take care of his OBJ
ilgatlons at maturity there would be
FEWER suits, fewer requests for curtail-
ment renewals Maturities sneak up
on one like thief in the night. with
out warning, and In doing so arrive
before expected and unless prepare
ton is made for the reception, one
must ask favors or default.
There was a time in Washington
Wnen IL was by-word that demand
note would never be paid off-ilst re-
newed and renewed again. It Is diff
terent now. Some of our banks will
not make demand loans, insisting on
time loans with definite date for paw
ment, curtail or renewal, as the case
may be. N
It's just another way of preparing
for eventualities-thrift against ex-
penses.
Investment Department.
The Washington Loan & Trust Co.
recently announced the formation of
an investment department. If there
Is one thing a trust company needs
more tnan another 1t is a department
70 look after the interests of It's clients
and care for its own Investments. for
trust company must select ali in
vestmentS for itself no less than for
trusts and estates conflded to its care
hundreds OF customers have come to
look 70 the banker for advice and mega
tive warning may often prevent serious
loss and make O friend-a new GUS
toner.
New Estate Law.
The enactment Of q new estate law
Tor the residents Of the State of New
YORK, which became effective Septem-
Der !. 1880, should prove of great in
terest to institutions In the District of
Columbia doing a trust. and fiduciary
business and to the public generally.
involving as 1t does many changes in
the law governing the disposal of prop
erty at the death Of its owMer.
Among the most Important changes,
says g. j. McQuade In the BANKERS
Bulletin Is the removal Of &nbsolete
distinctions IN dealing between 81
astate and personal property a. nnsstas