Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-11
new FIRM FORMED
BY D. c. F|NANC|ERS
Waggaman & BraWner, Inc,
Has Delaware Charter.
Drop in Time Deposits.

BY EDWARD C. STONE.
It was announced in the financial dis
trict here today that new corporation
to be known as Waggaman g. Brawner
Inc, of Delaware, has just been formed
The new concern is to be an operating
company and win take over the real es.
tate and various other interests of Wag.
gaman a. Brawner, Inc, of Virginia
the latter becoming holding company
John F. Brawner will head the new
corporation as its president and gen.
eral manager, and the board of direc-
tors will be the same as that serving
the old company. The new Delaware
corporation will carry on its business in
Washington, the same as the other cor
poration has been doing
Mr.. Brawner who has followed in the
footsteps of his father, the late John
w. Brawner, Is q director in the Lin
coin National Bank, q member of the
Washington Stock Exchange and vice
president and general manager Of the
investment firm of Waggaman q
Brawner, Inc, which companys affairs
he and his associates will continue to
direct.
The corporation chartered under the
laws of Delaware will enter into the
real estate, loan and insurance fields
more actively than the officials have
been doing with the Virginia corpora
ton They will at the same time re-
main ins charge of the holding COM
pa1y.
Time Deposits OF $30,OOO.O 900.
The Federal Reserve Boards condi-
Hon statement of weekly reporting
member banks In leading cities on No
venber shows relatively little change
for the week in total loans and invest
ments and In net demand deposits
Time deposits declined $50 100000 and
Government deposits $42 100000, and
borrowings from Federal Reserve banks
increased $l6,000,000.
Loans on securities increased $33, 000,-
600 at reporting banks In the New York
district, S6,000,O0O in the Kansas City
district and $4,000 900 at all reporting
banks. and declined $11 100000 in the
Boston district and $10,000,0o0 in the
Chicago district.
"AIi other loans increased $3e, 0O0,-
900 in the Boston district and declined
$4,000, 900 in the New York district and
$4,000. 600 each in the Cleveland and
San Francisco districts, all reporting
banks showing 8 net increase of $8,000,-
900.
LanstOn Attracts Attention.
Attention has been attracted to the
stock of the Lanston Monotype Co.,
which is so widely held in washington,
by its recent decline to 100, the low
for the year. Only q comparatively
small amount of the stock has been sold
at that figure, however. 1t is under
stood on the local exchange that earn
ings for the first half OF Lanston's
fiscal year were equal to the sales re-
corded during the same period in the
previous year. Since then earnings have
not been as good, but there are several
months to go before the end of the
year so that good IL months show
ing is expected.
Lanston is in a particularly strong
position as the last annual report show
ed very clearly. The company has such
a large surplus that the present 8 per
cent dividend could be maintained for
some four years regardless Of earnings
during that time. The per cent divi-
dend is made up Of Z per cent regular
and four 25 cent extras, declared at
the quarterly meetings of the directors.
j. T. Hendrick of this city. partner
in w b. Hibbs 81 Co, is chairman of
the Lanston board, and George w.
White, president of the National Metro
politan Bank, has been director for
many years.
American Stores Sales on.
The American Stores Co. sales for
October amounted to $13,64S, 431
against s14,024,524 in the correspond
ing period last year, a decrease of ~
per cent For the first 10 months of
the present year the company's sales
totalled S118,350, 1873, compared with
$118,6S6,286 in the same period in
per cent, according to reports out to-
Jay.
In commenting on the sales Of Al
chain store companies which have so
TAR reported for the month of October,
Merrill, Lynch 81 Co. state that while
the sales Of the group for october
amounted to $241 ,087 ,819, against
1851 ,s70,6 In October 1929, de-
crease of 1886, there is encourage
ment in the fact that the same num-
Der Of chains reported sales Of $207,-
SCI 1877 in September, an increase of
1917.
While this is a normal seasonal gain,
It Is significant because the volume
shows an increase in the face of low
commodity prices. The sales Of the
81 chains for the 10 months ended
October 81, amounted to $2,096, 1877 1877,
against $2.137, 693,617 for the same
period in 1929 decrease of 1871.
The decrease Of 1870 Is Insignificant
when it is considered that in this period
commodity prices have declined any
where from to IS per cent. thus in
1icating that practically all Of the
chains have been doing a much larger
unit business, although their dollar
sales have decreased slightly during
this period, the review says.
Capital Traction Closes Higher.
Capital Traction closed up quarter of
Q point on the Washington Stock Elk
change today. The stock opened with
20 shares selling at so nat. same as yes
terdays close. After call 20 more shares
were sold at 50H.
Washington Gas Light stock figured
In 20-share turnover at 121, Potomac
Electric Power preferred came out at
ll0& and 10 shares Of Commercial Ma
tional Bank sold at 233.
Barber e. Ross common moved at
1871. Columbia Sand g. Gravel pre-
ferred sold at S4$ and Mergenthaler
at S9Ss. There was considerable trading
in local bonds during the session, Wash
tngton Gas, Potomac Electric Power and
Washington Railway g. Electric issues
maintaining recent levels.
MARGINS MAINTAINED