Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-04-02

So per cent issue came out at 1os34
and l08A.
washington Railway & Electric sold
at 81, 80 shares of Mergenthaler Limo
type changed hands at 10TH and 100
shares of National Mortgage & Invest
ment preferred sold at asa. Two bank
stocks appeared on the board, Federal
American National selling at 293 and
Riggs National at $50
In the bond division trading was
confined to Washington Gas IS, series
B, at 104sa and Barber & Ross 612s
at 80.
w. M. ]. van Luttervald, member
Of the Amsterdam Exchange, was
visitor at the local exchange today and
was accorded privileges Of the floor.
Associates to Honor Owings.
The officers and directors of the Bank
of Commerce g. Savings will give g
dinner tomorrow night in honor of
Frank Owings, who recently resigned
as cashier of the bank after Is years
of service with the institution, to de-
vote ali his time to personal business.
President Maurice D. Rosenberg will
preside and Joseph H. Milans, the
secretary, make the chief address.
Practically all the employees viii attend.
Those giving the dinner, to take place
at the Ambassador Hotel, include:
Maurice D. Rosenberg, president; Jo-
seph Sanders and Irving Owings, vice
presidents; John NJ. Riordon, executive
vice president; Thomas j. Groom, vice
president and cashier; Joseph H.
Milans, secretary: Dr. Clarence A.
Weaver, auditor; Alexander Wolf, gen.
eran counsel; Oliver Exline, assistant
cashier, and the following directors:
Louis Bush, j. e. Colliflower, z. T.
Chewing, Floyd z. Davis, r. L. Elliott,
G.. E. Edwards, A. S. Galley, G. A.
KneesSi, So, Lansburgh, M. A. Leese,
Harry e. Mayer, J. F. Maury, Vernon
G. Owen and Ellie Sheetz.
Southern Trust Farley.
The third Southern Trust Confer
ence under the auspices of trust COM
pany division, A. B. A., will be held in
Montgomery, Ala, on April Is and 20.
Trust officers from the States of Ala
bana, Florida, Georgia, Kentucky,
Louisiana, Mississippi, North Carolina,
South Carolina, Tennessee and Viz
ginia will participate in the sessions,
which will be devoted to a consideration
of the most effective methods of de-
veInping trust business in the Southern
States, with special attention to tax
problems. william c. Bowman, presi-
dent Of the First National Bank of
Montgomery, is general chairman Of
the conference.
Credit and the Stock Market.
The boisterous conduct of the stock
market lately has given rise to appre-
hension In some quarters that new
and unbridled wave of speculation is
about to start, says the New York
Times. The spectre Of voracious mar
ket which once more viii gobble up all
available credit, multiplying the efforts
~ he n0nly IN
vide business with easy money, is be-
ing paraded. Leading bankers profess
to see no such alarming symptoms,
however. They say rampant bull
market can hardly be expected with
business conditions as they now are.
On the other hand buoyant market
will have a valuable effect in lifting
public morale and stimulating business
optimism, the Times believes.
Official announcement of the merger
of North American Co.'S California sub
salaries with Pacific Gas & Electric Co.,
subject to approval of the California
Railroad Commission, reveals the fact
that North American will become the
largest stockholders of Pacific Gas
through ownership of 1876, 900 shares Of
common stock, or more than 80 per cent
Of total common stock to be outStand-
ing.
Pacific Gas will turn over this block
Of stock to Western Power Corporation,
North American subsidiary, in return
for the Great Western Power Co., San
Joaquin Light g. Power Corporation and
Midland Counties Public Service Cor
poration.
The consolidation will give California
one of the largest interconnected power
systems under single ownership in the
United States, Frank l.. Dame, president
Of he North American Co said
Financial District Brevities.
Reservations were coming in rapidly
today for the District Bankers ASSo-
citation Spring dinner at the Columbia
Country Club, April IA. An unusually
large attendance is forecast by Presi-
dent w. j. Waller and the committee
members.
Pat Harrison, one of the speakers,
addressed the American Bankers As
ISOLATION Spring counsel meeting last
year at Biloxi, Miss, and was heard
with intense interest by f1nanciers from
all over the country. Attorney Carter
B. Keene, the other speaker, has al
ready served the local bankers on one
occasion as POSTMASTER.
Mackubin, Goodrich g. Co. have pre-
pared an analysis of the Houston Oil
Co. of Texas and its wholly owned
natural gas subsidiary the Houston
Pipe Line Co. The analysis covers in
detail operations for the past 10 years
and shows a book value for the COM
mon stock at $143 per share.
The resignation Of Louis A. Dent as
a director, vice president and general
manager Of the Capitol Title g. Guar
antee Co. was announced yesterday,
Mr.. Dent stating he would be able to
devote more time to other business
affairs.
The controller of the currency has
received application to organize Peoples
National Bank of Lewisburg, w. Va,
capital, $4,000, and has approved
same.
The current number of Trust Com
panies Magazine has a review Of the
40 years service rendered by the Wash
ington Loan & Trust Co. The publ
cation also contains pictures of Presi-
dent John B. Larner, Vice President
Harry G. Meem and Vice President
william II. Baden.
The general convention committee
Of the District Bankers Association will
meet Friday afternoon at the call Of
Chairman George o. VaSs.
Gov. Roy A. Young of the Federal
Reserve Board told the House commit
tee on banking and currency that
many bankers all over the United
States predict extension Of chain and
branch banking, although many regret
such trend.
BANK CLEARINGS.