Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-02-19


of less than one hundred million dollars
and most of them assets of less than
10 million. OF the remaining 10 per
cent, however, he asserted, there are at
least o half dom with personal trust as
sets of more more than billion dollars
each.
A. r. Young. vice president of the
Guardian Trust Co., Cleveland, Ohio,
pointed out that due TO the desire to
render better trust service banks and
trust companies are facing an ever in
creasing danger Of doing business
without profit"
Charles E. Clark, dean of Yale Law
School, reported his progress in the
task Of drafting a uniform principal
and income act, task delegated TO
him four years ago. The act, he ex-
planned, viii be one which, If adopted
BY the various State Legislatures, will
provide a Nationwide law covering
questions concerning the determination
Of principal and income of trust funds
as between life tenants and remainder
men.
Local Bankers Talk on Radio.
Francis G. Addison, jr.. vice presi-
dent Of the Security Savings & Com
mercial Bank, and I. j. Roberts, as
sistant cashier of the Riggs National
Bank, talked over the radio last night
in connection with the American Insti-
tute of Banking's educational week
program. Mr.. Addison, in urging in
vestigation before investing, gave these
important don'ts:
Don't buy stock in mines you know
nothing about. While some mines are
rood. often INSCRIPTIONS men start
mining ventures just to get your money.
Iii
are rich. In many cases there never Is
q well at all-except on paper.
Don't speculate unless you can az
foru to lose.
Don't trust a salesman who says:
Invest quick or it may be too late. An
honest man welcomes investigation. A
swindler fears 1t.
Don't invest in q new and untried
venture unless you know all about II
yourself or have the favorable opinion
Of an honest and genuine expert.
Ordinarily" he continued, the
average investor will, over a term OF
years. be further ahead in dollars and
cents If he confines his purchases TO
high-grade investmet: bonds. But II
he is not satisfied With a reasonable
return on his money and is determined
10 speculate and buy stocks, let him BUY
them in well established companies
which have demonstrated good earn
ing capacity over term OF years.
Roberts Lauds Institute.
Mr.. Roberts, in discussing the insti-
tute's 80 years Of progress, declared
that the organization deserves large
measure of credit for the splendid man
ner in which the banks conducted
themselves during the stock market col
lapse. The training that bankers have
been receiving during the past three
decades in principles OF banking, law
and economies is always reflected
among banking leaders in times of
stress.
Prom the beginning" Mr.. Roberts
said. the institute has been a volun-
tary organization, the work Of which
has been carried on almost entirely by
young men and women elected by their
associates to direct and carry out the
educational plans outlined by the ma
tional organization and modtted To
meet local conditions.
THE degree Of success which the
American Institute Of Banking has
achieved in its objective is shown by
the fact that each year over 1000
graduates are awarded the standard
certificate Of the institute, evidencine
that they have been thoroughly
grounded in the principles of their pro-
that high type of service which the
public has the right to expect from the
institutions to which. they look fol
guidance in the handling Of theil
financial affairs"
Peoples Drug Preferred Active.
One Of the most active stocks on thu
Washington Stock Exchange today wa:
Peoples Drug Stores Preferred, so shares
changing hands at l03. Washington
Railway Electric preferred came ou
eX-dividend at So, Liberty Nationa
Bank sold at 2O5 and Federal-Americar
Co. common at 80.
Potomac Electric Power 6 per cen
preferred changed hands at 1llh, 81
shares of East Washington Saving
Bank at 80 and $50 shares Of Real ES
tate Mortgage g. Guaranty preferreC
sold at 7 and 20 more at 71k.
Trading in the bond division wa
confined to Washington Gas IS, Serte
A, which moved at 103.
MergenthaIer Votes Dividends.
The Mergenthaler Linotype Co. yes
terday declared the regularly quarterl
dividend of 81 so and an extra dividen
of Is cents per share, both payabl
March 81 to stock Of record March
Similar dividends we're declared at tn
last quarterly meeting.
The Hambleton Corporation, forme
in August Of last year by the invest
ment house of Hambleton g. Co., hs
declared an initial semi-annual div
dend Of $50 a share on its participat
ing cumulative So preferred stock, pay
able March / to stock Of record Fet