Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-09
H|GH-SPEED STOCK
+. ICKERS INSTALLED
Washington Brokerage Firms
Are Now Using Latest
Model Machines.
BY EDWARD c. STONE.

EDWHND -. SAONbs
Visitors to board rooms of Washing
ton brokerage and investment Offices
have read their last New York Stock
Exchange stock quotations from the ia
familiar glsss-demed stock tickers.
The passing Of the old ticker was
marked by no ceremonies. Workers in
different brokerage houses each day
recently have found new high-speed
tickers, tested and ready fer operation,
had been installed Turing tn night.
Executives of the Western Union, IN
charge of the small army of men which
has worked night and day since last De-
cembsr 9 to effect the most sweeping
shift of stock quotation facilities IN
history, breathed sigh of relief this
week as the ticker conversion neared
completion They predict that all old
tickers in their New York Stock Ex-
change quotation service in the United
States and Canada will be removed and
high-speed ones will be operating in
their place in time TO permit the be-
ginning of high-Speed service Septem-
Der 2.
The force this week plunged into
anal drive to complete installations in
advance of September /, to leave time
for final tests and adjustments of more
than 1000 high-speed tickers in $50 cit
les and towns from coast to coast. The
new tickerS are expected to handle a
5000. 000-share market without getting
behind in transmitting the quotations.
Common Dividend Settled.
In accordance with information re-
eeived by Gen. Kenzie w. Walker,
president Standard Collateral Shares
Corporation, from the Empire Trust
Co., trustee. the dividend to be paid
holders of Standard Collateral trusted
common stock shares by the trustee
on August Is, 1890, for the six-month
period ending July Is, 1880. will be at
the rate Of 45.482 cents per share.
Bank Resources Grow.
Total resources of 1852 reporting
national banks on June 80, 1880, the
date of the last call for reports of con-
dition, aggregated $29, JIG, $50 900, an
increase. of 81 ,768, 04l 900 since March
~. 1880, the date of the previous call,
when 1916 banks reported, Controller
Pole reports. An increase of 81 ,676,31l.-
600 over the amount reported by 1886
banks on June 81, 1929. also was shown.
Loans and discounts. including re-
discounts, on June 80, $780, amounted
TO $14887, 752 900, an increase of $685.
See, Zoo since March 81, 1880, and an
Holdings of United States Govern
ment securities totaled $2,753, 94l 900,
which was an increase of $31 .098,O00 in
the three-month period, but decrease
Of SAC $4,000 in the year.
Personal and Other Notes.
I. A. Fleming reports from Atlantic
City that it has been delightfully."- cool
at the popular New Jersey resort where
IHa Hn1
forlte MADDEN Hall. President John
Poole of the Federal-American National
Bank is stopping at the same hotel.
Clarence F. Norment, ST., has been
there for several weeks, and another
Washington visitor has been G. Louis
Eckloff assistant cashier of the Ma
tional Metropolitan Bank, now back at
his desk. In passing. Mr.. Fleming mem
lions the fact that there are now 1900
guests at the hotel AS there are many
other. big hotels at Atlantic City it looks
as II the resort was having good sea-
son.
The American Ice Co. and subsidi-
aries report for six months ended June
so. 1890, profit of 81 1853, 454 after ex-
penses, interest, ETC.. but before depre-
citation and Federal taxes, comparing
with profit Of $2,l07,927 in first half OF
1929. Outstanding stock consists OF
144.319 shares of per cent preferred
and 5S4, 100 shares of no-par common
stock.
The volume of business during the
week ended August 2, as measured by
bank debts outside New York City, de-
clined from the preceding week and was
some Is per cent below the 1929 level,
according to the weekly review of the
Commerce Department yesterday.
John R. Waller, president OF the In
ternational Bank. leaves here today for
a study of financial conditions in the
Middle West.
President John B. Larner of the
Washington Loan & Trust Co. will be
back at his desk on Monday after an
extended motor trip through New Eng
land with Mrs. Larner and their daugh-
ter. Miss Anna Southland Larner.
1t is expected that Vice President
Harry @. Meem of the same institu-
ton will leave the latter part of next
week for his vacation after the regular
monthly meeting of the board on We'd
nesday.
More Reserve Credit Used.
The daily average volume of Federal
Reserve Bank credit outstanding dur
ing the week ending August 6, as re-
ported by the Federal Reserve Banks,
was $3.50, 000, 900, an increase of $54,-
200 900 compared with the preceding
week and a decrease of $40l 900 900
compared with the corresponding week
of 1929.
On August total Reserve Bank
credit outstanding amounted to S940,-
600, 900, an increase of $13,000.000 for
the week. This increase corresponds
with an increase of S40,000.000 in
money in circulation and declines of
So, 100000 in monetary gold stock and
100000 in Treasury currency, offset
by a decrease of s51 600, 900 in member
bank reserve balances