Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-05-20

Fire Insurance Co. moved AT "a ana ou
more at 2312.
106, dropped to 1854, to 104% and
closed at 1041a on turnover OF only
SO shares. The company has omitted
the usual extra dividend. Lanston also
sold lower, a single share moving at
l22. Washington Railway g. Electric
preferred sold at 98N.
The recently listed Prince Georges
Bank g. Trust Co. stock appeared Tor
the first time, 80 being bid for the
stock with no offer.
Coolidge Year in Business.
Former President Calvin Coolidge has
completed his first year as an insurance
man. He was elected member OF the
board of directors Of the New York
Life Insurance Co. at the May meeting
in 1929, and since that time has served
as chairman of the agency committee,
which has supervision of the more than
10000 agents of the company. He has
taken an intimate and personal inter-
est in the details Of the company's
business.
He was absent from only two board
meetings during the year, once wniie
on q trip to the far West, and once In
January when he left with other direc-
tors and officers to address a meeting
in Florida.
Commodity Prices Again Drop.
Commodity prices declined five-tenths
OF per cent during the week ended
price index of the National Fertilizer
Association. The total decline during
the past two weeks has amounted TO
nine tenths of per cent, and the index
Is now IL per cent below the low point
Of March Is.
Nine groups declined and only one
showed a slight advance. OF the total
items 81 declined and 16 advanced. The
larger declines occurred in fats, grains,
feeds and live stock, fertilizer materials,
textiles, miscellaneous commodities, Ger
tain foods, and fuel.
Based ON l926-Is2s as 100 and on 476
quotations the index stood at COL for
the week ended May IT; 90.6 for May
10, and $40 for May 8.
Beach Railway Raises Wages.
The Chesapeake Beach Railway Co.
announces effective as Of May !, an in
crease of 10 per cent In the present
scale of wages Of all trainmen, en-
ginemen and employees Of its mechan-
zeal department.
1.-THE advance is granted not so much
on account Of increased living condi-
tions as 1t Is by way OF appreciation
of the earnest efforts that the employees
concerned have been making toward
assuring the success Of our project, and
a greater attention in handling and
serving the public" said Col. Lee H.
Lands, general manager Of the road, to-
day.
The company's business has increased
considerably during the past year un-
der the new management. Because Of
the growing importance Of the Chesa-
peake Beach station as shipping point
and as q center Of Summer travel, J..
A. Coleman, who has had wide expert
ence In railroading. has been appointed
agent at that station.
Convention Plans Move Forward.
Convention plans are moving forward
steadily In connection with the coming
conclave of the District Bankers Asso-
citation, which takes place at Ashevilla
N. C., June 5 to 8. As the time APP
proaches there Is marked interest in
the annual event and the members Of
the association are looking forward to
one Of the best meetings yet held. The
program Is sure to be interesting and
helpful and the surroundings at Ashe-
vile are considered ideal. Those who
have already visited the Grove Park Inn
are tremendously enthusiastic over the
accommodations and special features
which it offers. As one of the best
known resort hotels in the country, 1t
will compare favorably with any other
hotel the Washington bankers have Wis
tied during previous conventions.
Chairman Claude H. woodward of
the transportation committee reports
that reservation requests are coming In
steadily and Is confident that the
attendance will break all previous
records. He Is anxious to get all the
reservations In at once In order to
facilitate the work Of the hotel COM
mittee, Of which Luther Z. Schreiner is
the chairman.
Loans and Investments Drop.
The Federal Reserve Boards condi-
ton statement of weekly reporting men,
Der banks in leading cities on May II,
shows decreases for the week of $29.-
100000 in loans and investments and
$32 100000 in borrowings from the Fed
eral Reserve Banks and increase of
$l40,000,000 in net demand deposits
and $21 5000 in time deposits
Decline in motor car production has
now nearly run its course and by next
year 1t should have recovered to q level
equal to or exceeding that of 1928,
Eastman, Dillon 81 Co. say in a discus
sion Of the outlook for manufacturers of
automottve parts and equipment The
appraisal of the motor production sit
uation is based on the experience Of the
industry in the past Is years, they say.
Cleaned in Financial District.
Loew's Inc. has declared the regu-
lar quarterly dividend Of rs cents q
share, payable June 80, to stock OF
record June IA
President Wade H. Cooper of the
Commercial National Bank, has re-
turned from trip to Atlantic CITY
and Bethlehem Pa, attending the
Bach festival at Bethlehem.
Frank Hyatt, Paul D. Keller and
George A. Sacks, will be associated with
the Washington Office of Prince &
Whitley, opened yesterday.
The North American Co. reports thai
expenditures on new construction b,
subsidiaries totaled $16,792,38 in the
first quarter compared with $8,742 ,O0t
in the same period in 1929. In Wash,
ington the company spent $944,4
The Baltimore &, Ohio plans to spent
$1,000, 900 in double tracking and othel
improvements on the Wheeling division
An amendment to the Federal Re
serve act that would provide for dis
tribution of the earnings of the Fed
eral Reserve banks to their RESPECTIVE
stockholders and depositors was ad
vocated by the New Jersey Bankers
Association, in convention at Atlantis
City.
The Virginia Carolina Chemical Cor
poration declared regular quarterly divi
dend OF $l.75 on per cent prior pref
erence stock payable June 2 to stocl
Of record May 20.
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